Coupang challenges record W624.7b privacy fine in court

E-commerce giant Coupang has taken South Korea's data protection watchdog to court over a record 620 billion won ($461 million) in fines tied to its massive data leak, sources said Thursday. The e-commerce giant filed two suits with the Seoul Administrative Court on Wednesday, asking it to cancel the penalties the Personal Information Protection Commission assessed in June. Coupang also sought to halt the fines until the court rules. The commission ordered Coupang and its affiliate to pay a comb

Oct. 8, 2026

Posco unveils steel landmark overlooking Gwangyang Bay

Posco and the city of Gwangyang in Jeonnam-Gwangju unveiled Panorama Walk, a massive interactive steel sculpture atop Gubongsan, on Thursday, turning the former beacon site into a new cultural landmark overlooking Gwangyang Bay. Unveiled to mark Gwangyang Citizens’ Day, the installation combines the steelmaker’s industrial identity with the city’s history, landscape and culture. The project dates back to a 2022 agreement between Posco and Gwangyang to develop Gubongsan as a tourist destination.

Oct. 8, 2026

Korea defense industry faces shifting battlefield demands in Estonia

Korea Herald correspondent TALLINN, Estonia — South Korea's defense industry rode into Europe on fast deliveries, competitive prices and a deep arsenal of conventional weapons, but it may now need to recalibrate that formula as European militaries shift their focus toward drones, air defense and other capabilities shaped by the war in Ukraine. K-defense gained momentum after Russia's invasion of Ukraine exposed gaps left by decades of post-Cold War downsizing in Europe. While many European count

Oct. 8, 2026

Seoul shares down for 3rd day amid inflation worries

Seoul shares closed lower Thursday to extend their losses for a third consecutive session, as elevated oil prices stoked inflation worries. The Korean won rose against the US dollar. After opening 0.07 percent higher, the benchmark Korea Composite Stock Price Index turned lower to close down 177.97 points, or 2.62 percent, at 6,625.93. This comes as the Dow Jones Industrial Average fell 0.66 percent overnight, while the tech-heavy Nasdaq Composite declined 0.22 percent. Institutions and foreigne

Oct. 8, 2026

Why Samsung’s memory boom is squeezing Galaxy profits

“We will not pass the full (cost) increase on to consumers,” Samsung Electronics co-CEO Roh Tae-moon told reporters in London in July as he unveiled the latest Galaxy foldables. Two weeks later, the Z8 series drew a record 1.44 million preorders in Korea. But by October, Samsung was raising prices on seven-month old Galaxy S26 phones by nearly 150,000 won ($112) in Korea and $100 to $200 in the US. Then came Thursday's earnings. Samsung projected record third-quarter operating profit of 107.4 tr

Oct. 8, 2026

LG Energy Solution sets sales record on EV, ESS growth

LG Energy Solution posted record quarterly revenue in the third quarter, fueled by stronger electric vehicle battery shipments in Europe and rapidly growing demand for energy storage systems in North America. The battery maker said Thursday that preliminary revenue reached 9.64 trillion won ($7.21 billion), up 59 percent from a year earlier and 27.6 percent from the previous quarter. Operating profit rose 25.7 percent on-year and more than sixfold from the second quarter to 756 billion won. Excl

Oct. 8, 2026

‘Seeing the unseen’ opens new doors: GBF speakers

The best business ideas often hide in plain sight, from gaps big companies miss to daily hassles people ignore, speakers at this week's Global Business Forum said Wednesday. The 10th edition of the weekly forum, organized by The Korea Herald and Herald Business, runs under the theme "See the Unseen," and Thai Ambassador to South Korea Tanee Sangrat opened its second official session. Wrapping up a three-year posting in Seoul, Tanee praised Korea's technology and invited its firms to partner with

Oct. 8, 2026

Big AI ambitions, cautious lenders: Naver’s $10b financing test

Naver’s plan to build one of South Korea’s largest AI data centers in Sejong has heavyweight names behind it: Nvidia, global asset manager Brookfield and potentially some of the country’s biggest banks and securities firms. Yet financing a $10 billion AI infrastructure project is proving anything but straightforward. Naver and Brookfield are discussing up to $9 billion in financing for the first phase of an expansion of Naver’s Gak Sejong AI factory, which would increase its capacity to 200 mega

Oct. 8, 2026

LG CLOiD meets young innovators

LG Electronics is showcasing its robotics ambitions at the 2026 First Global Challenge, an international youth robotics competition running Wednesday through Saturday at Songdo Convensia in Incheon. The company is sponsoring the event, which brings together youth teams from 185 countries to design and build robots, complete missions and collaborate on solutions to global challenges. Held annually by US nonprofit First Global since 2017, this year's competition is themed “Igniting Innovation” and

Oct. 8, 2026

Samsung, SK hynix face investor test as buybacks wind down

South Korea's two biggest chipmakers are losing a major source of buying support as their share repurchases wind down, putting the focus on whether strong earnings can bring other investors back into the stocks. Franklin Templeton portfolio manager Yi Ping Liao said SK hynix's stronger commitment to returning cash gives it an edge as corporate buying fades. "That does not mean the stocks have to fall, but from that point the market needs other investors to step in," said Liao, a vice president a

Oct. 8, 2026

Budget minister calls for 'virtuous cycle' of spending, growth and tax revenue

South Korea's budget minister on Thursday stressed the need to establish a "virtuous cycle" of proactive fiscal spending, economic growth and higher tax revenue, noting the government's proposed Future Fund could play a key role in achieving this goal. Budget Minister Park Hong-geun made the remarks during a parliamentary audit at the National Assembly, outlining the ministry's vision for pursuing proactive and effective fiscal management to lay the groundwork for growth. "We will establish a vi

Oct. 8, 2026

SK chief pitches new capitalism in rare TV turn

SK Group Chairman Chey Tae-won is making a rare television appearance to share his vision for capitalism and growth in the AI era. Chey will open the sixth season of EBS’ Great Minds as its first lecturer, discussing how artificial intelligence is reshaping business, jobs and society — and why economic growth alone can no longer be expected to solve mounting social challenges. Having led SK Group for nearly three decades through shifts in semiconductors, energy and telecommunications, Chey will

Oct. 8, 2026

Seoul shares turn lower after opening up amid inflation worries

Seoul shares turned lower after opening up Thursday, largely due to inflation worries stoked by elevated oil prices. After opening 0.07 percent higher, the benchmark Korea Composite Stock Price Index lost ground, trading down 53.32 points, or 0.78 percent, to 6,750.58 as of 9:15 a.m. Overnight, the Dow Jones Industrial Average fell 0.66 percent, while the tech-heavy Nasdaq Composite declined 0.22 percent. Investors remain wary as higher oil prices are adding to inflationary pressures, and the US

Oct. 8, 2026

S. Korea extends current account surplus in Aug. amid solid exports

South Korea posted a current account surplus in August, the central bank said Thursday, the second highest on record, on the back of the robust exports amid the global semiconductor upcycle. The current account surplus totaled $46.1 billion in August, up $4 billion from a month earlier, according to data by the Bank of Korea. Compared with the same month in 2025, the figure jumped $36.2 billion. It marked the second-largest figure, following $49.73 billion set in June this year. The figure remai

Oct. 8, 2026

Samsung becomes first tech giant to top W100tr quarterly profit

Samsung Electronics said Thursday its third-quarter operating profit surged an estimated 782.5 percent from a year earlier to a record 107.4 trillion won ($80 billion), making it the first technology company worldwide to cross the 100 trillion won mark in quarterly operating profit. The milestone puts Samsung alongside Saudi oil giant Aramco, the only other company to have surpassed that threshold, and well above Nvidia’s $63.7 billion operating profit for its fiscal second quarter ended in July

Oct. 8, 2026