Hanwha Solutions confirms W1.2tr rights offering

Hanwha Solutions on Monday finalized a rights offering of nearly 1.2 trillion won ($810 million), less than half the 2.4 trillion won it initially sought to raise. The energy and chemicals arm of Hanwha Group set the final subscription price at 22,100 won a share, according to a regulatory filing. Any unsubscribed shares will be offered to the public. The price is about 20 percent below the preliminary issue price of 27,900 won announced last month, following two rounds of revision requests from

2026-07-20 20:25:13:00

Lee Jae Myung's home finally sells

South Korean President Lee Jae Myung has completed the sale of his longtime home, five months after putting it on the market in February in a symbolic move meant to underscore his resolve to stabilize the housing market. Local reports said Monday that Lee sold the apartment that he jointly owned with his wife in Bundang-gu, Seongnam, Gyeonggi Province. According to property registry records, ownership was transferred Thursday, with the sale price recorded at 2.9 billion won ($1.96 million). The

2026-07-20 20:17:45:00

When one home isn't just a home: Korea weighs tax overhaul

Should someone who owns one ultra-expensive Seoul apartment receive more tax protection than a person with several modest homes in regional cities? And does owning only one property necessarily make it a home rather than an investment? Those questions are at the heart of what could become the biggest rethink of South Korea's property tax system in years. Long centered on the distinction between single-home and multiple-home owners, the system is now being reassessed around a different set of cri

2026-07-20 14:44:52:00

[Photo News] NH NongHyup, Amundi deepen partnership

NH NongHyup Financial Group Chairman Lee Chan-woo (right) poses with Amundi Deputy CEO Olivier Mariee at the French asset manager's headquarters in Paris on Wednesday. The two discussed expanding global investment cooperation, adopting artificial intelligence-based asset management systems and strengthening support for their joint venture, NH-Amundi Asset Management, during a partnership committee meeting. They also explored developing a global pension management model for Korea's evolving retir

2026-07-19 15:34:07:00

Kospi retakes 7,000 on strong foreign buying, triggering sidecar

Seoul stocks reclaimed the 7,000 mark on Wednesday, with the Kospi surging more than 8 percent at one point as foreign investors stepped up buying amid a rebound in risk appetite. The Kospi closed Wednesday's daytime trading at 7,284.41, up 6.24 percent. The index opened 3.3 percent higher at 7,082.9, before climbing as much as 8.2 percent to an intraday high of 7,424.18. The early surge triggered a buy-side sidecar, halting program trading for five minutes. Kospi 200 futures were up 6.5 percent

2026-07-15 15:04:59:00

KB Financial launches AI Lab for workplace AI

KB Financial Group has launched a hands-on AI talent program as part of efforts to accelerate artificial intelligence adoption across the group and integrate the technology more deeply into everyday work. The financial group said Wednesday it officially launched the KB AI Lab during its AI and data innovation seminar held Tuesday at KB Kookmin Bank's headquarters in Yeouido, western Seoul. The project-based program is designed for graduates of the highest level of KB AI Academy's AI expert nurtu

2026-07-15 14:26:17:00

Korea lifts growth outlook, bets big on chip boom

South Korea on Tuesday raised its 2026 economic growth forecast from 2 percent to 3 percent and unveiled plans to turn the current semiconductor boom into a lasting increase in the country's growth potential. The government expects nominal gross domestic product to expand 12.3 percent this year — the fastest pace in three decades. Exports are projected to surge 40 percent, while the current account surplus is forecast to more than double to a record $290 billion, driven by soaring semiconductor

2026-07-14 14:11:21:00

Big-ticket IPOs set to test Korea's market rally

South Korea's initial public offering market lagged the broader stock rally in the first half. But a pipeline of multitrillion-won listings in the second half could test whether investor enthusiasm finally spreads beyond large-cap technology stocks. Only 17 companies were listed on the Kospi and Kosdaq in the first six months, down from 38 a year earlier, according to market data. Total proceeds fell nearly in half to 1.13 trillion won ($730.8 million) from 2.21 trillion won. The slowdown was pa

2026-07-13 15:29:00:00

[Photo News] Shinhan chief mentors future leaders

Shinhan Financial Group Chairman Jin Ok-dong (center) speaks with scholarship recipients during the 2026 Shinhan Scholarship Camp at Shinhan Bank's Blue Campus in Yongin, Gyeonggi Province, Friday. The two-day event featured mentoring sessions, guest lectures and team activities aimed at strengthening ties among scholarship recipients. Since 2006, the Shinhan Scholarship Foundation has provided 41.5 billion won ($27.6 million) in scholarships to more than 3,000 students. (Shinhan Financial Group

2026-07-13 13:10:09:00

FSC chief vows swift plan to ease network separation rules

Financial Services Commission Chairman Lee Eok-won said Friday that authorities will move quickly to draw up plans to fully lift network separation requirements for financial institutions with sufficient artificial intelligence and cybersecurity capabilities. Lee made the remarks at an Information Security Day event hosted by the Financial Security Institute, where financial industry executives gathered to discuss joint responses to increasingly sophisticated AI-powered cyberattacks. "The tradit

2026-07-10 17:22:26:00