S. Korea's nominal GDP growth tops 26%, highest in 47 years

South Korea's economy expanded in nominal terms at its fastest annual pace in nearly 47 years in the second quarter, as a semiconductor-led export boom widened the country's terms of trade, Bank of Korea data showed Tuesday. Nominal gross domestic product rose 26.4 percent in the April-June period from a year earlier, the sharpest increase since the third quarter of 1979. Output for the quarter reached 834.9 trillion won ($622 billion), up 9.2 percent from the first quarter. The country's real G

Sept. 8, 2026

HMM signs W4.7tr long-term shipping deal with Brazil’s Vale

HMM said Tuesday it signed a 4.7 trillion won ($3.5 billion) long-term shipping contract with Vale, Brazil’s major mining company. Under the agreement, HMM will deploy eight 210,000-ton Newcastlemax bulk carriers under 25-year contracts per vessel starting in 2030. This marks HMM’s third major deal with Vale, following two 10-year agreements signed in May and September last year. The eco-friendly Newcastlemax vessels will feature the world’s first trifuel engines capable of running on methanol,

Sept. 8, 2026

HD Hyundai chief bolsters defense ties with Philippines

HD Hyundai Chairman Chung Ki-sun met with Gilberto Teodoro Jr., secretary of national defense of the Philippines, in Seoul on Monday to explore ways to deepen their strategic partnership across shipbuilding and naval defense. During the meeting, the two leaders reviewed a decade of defense ties and agreed to broaden cooperation aimed at modernizing the Philippine Navy and boosting the competitiveness of the local shipbuilding industry. Their defense ties dates back to 2016, when HD Hyundai Heavy

Sept. 8, 2026

Korean Air fined for sending international passengers to domestic terminal

Korean Air has been fined 10 million won ($7,461) after dozens of passengers arriving on an international flight were mistakenly taken to the domestic terminal, allowing four of them to leave the airport without passing through immigration. The incident occurred on June 7 after Korean Air flight KE2106 arrived at Gimpo Airport from Tokyo’s Haneda Airport, according to industry sources Tuesday. After the flight landed, passengers boarded several shuttle buses meant to take them to the internation

Sept. 8, 2026

Samsung SDS to expand partnerships with OpenAI, Anthropic to drive AI transformation

Samsung SDS Co., the information technology services arm of South Korea's Samsung Group, said Tuesday it will expand cooperation with major global artificial intelligence companies, including OpenAI and Anthropic, as it seeks to drive innovation through AI transformation. The company made the announcement at its annual summit, where it unveiled its vision for accelerating AI transformation dubbed AX across businesses and work processes. Samsung SDS said it will become the first South Korean comp

Sept. 8, 2026

Seoul shares open higher amid revived AI hopes

Seoul shares opened higher Tuesday, led by gains in semiconductor stocks, amid escalating tensions in the Middle East that pushed up oil prices. After opening 0.72 percent higher, the benchmark Korea Composite Stock Price Index extended gains, trading 54.51 points, or 0.78 percent, up at 7,049.90 as of 9:15 a.m. The index soared by more than 4 percent in the previous session on the back of a rally in tech stocks amid revived hopes for artificial intelligence-related earnings momentum. The US sto

Sept. 8, 2026

S. Korea's nominal GDP grows at fastest pace in 47 years in Q2

South Korea's nominal gross domestic product grew at the fastest pace in 47 years in the second quarter, driven by strong exports and investment related to artificial intelligence, central bank data showed Tuesday. The country's real GDP -- a key measure of economic growth -- rose 0.6 percent in the April-June period from three months earlier, according to preliminary data from the Bank of Korea. The on-quarter figure matched the BOK's earlier estimate released last month, but it revised up grow

Sept. 8, 2026

Korea Zinc management gains edge ahead of key shareholder vote

Korea Zinc’s incumbent management appears to have gained an edge ahead of a crucial extraordinary shareholders meeting Wednesday, as major proxy advisers lined up behind the board-backed candidate for a key audit committee seat and a court rejected an attempt by MBK Partners and Young Poong to restrict voting rights held by Chair Choi Yun-birm and related parties. The shareholder meeting, set to take place at the Mondrian Seoul Itaewon in Yongsan-gu, Seoul, will elect four independent directors

Sept. 8, 2026

Musinsa takes first step toward IPO

South Korean fashion platform Musinsa has applied for preliminary review to list on the main Kospi market, taking a formal step toward a potential initial public offering. Musinsa submitted the application to the Korea Exchange on Monday afternoon, the company said. According to Musinsa, the review will allow the company to determine whether it meets the requirements for a listing and whether going public would be beneficial. The company said it is considering an IPO as one way to raise funds fo

Sept. 7, 2026

LG Energy Solution develops technology to boost LMR battery life

LG Energy Solution and Seoul National University have developed a technology to suppress gas generation and improve cycle life in lithium manganese-rich batteries. The company said Monday that it achieved the results through a joint study with a research team led by Seoul National University professor Lim Jong-woo. The findings were published in Nature Communications. LMR is a cathode material that reduces material costs using relatively inexpensive manganese instead of cobalt. It can also achie

Sept. 7, 2026

HK inno.N secures world's first EPD for oral medicine

HK inno.N said Monday its gastroesophageal reflux disease treatment K-CAB Tab. 50mg has become the world’s first oral finished drug to receive an Environmental Product Declaration. The South Korean pharmaceutical company said it received the EPD certificate at a ceremony in Oslo, Norway, on Wednesday. An EPD measures a product’s environmental impact throughout its life cycle based on international standards. The results are publicly disclosed after third-party verification. It is also known as a

Sept. 7, 2026

Krafton chair meets Modi as India investment reaches $500m

Krafton Chair Chang Byung-Gyu met Indian Prime Minister Narendra Modi in New Delhi on Friday to discuss cooperation in gaming, technology and digital entertainment. The two sides explored ways to expand Korea-India ties and support the development of India’s gaming and emerging technology sectors, focusing on bringing locally produced games and digital content to global audiences. The discussions aligned with the Indian government’s “Viksit Bharat” vision and its “Create in India, Create for Ind

Sept. 7, 2026

Mom’s Touch moves Japan base to Shinjuku, targets 100 stores by 2027

Mom’s Touch has relocated its Japanese subsidiary’s office from Shibuya to Shinjuku as the Korean fast food chain accelerates its expansion in Japan with the opening of its sixth outlet. The company said Monday that Mom’s Touch Japan will use Shinjuku as a central base for site development, franchisee training and operational support, consolidating key management functions as it builds its local network. The new Shinjuku Park Tower branch opened on the building's first basement level, about a fi

Sept. 7, 2026

aT offers AI-backed consulting for flower farmers facing climate shifts

The Korea Agro-Fisheries & Food Trade Corp., known as aT, said Monday it held a consulting session pairing artificial intelligence-driven analysis of flower auction data with expert cultivation guidance to help farmers cope with rising costs and unpredictable weather. Held jointly with the Rural Development Administration on Friday at a rose farm in Jincheon, North Chungcheong Province, the session drew on auction prices, shipment volumes and trading data accumulated at aT's flower distribution

Sept. 7, 2026

Seoul shares spike 4.6% to 5-week high on renewed AI optimism

South Korean shares surged 4.6 percent to a more than five-week high Monday as OpenAI's new-generation model fueled demand for artificial intelligence-related shares. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index closed up 308.18, or 4.61 percent, to 6,995.39, extending its winning streak to three sessions. It marked the highest closing since July 23, when the Kospi finished at 7,096.89. Trade volume was light at 237.9 million shares worth 21.5 trilli

Sept. 7, 2026