HD Hyundai wins order for first phase 2 autonomous ship navigation solution Autonomous navigation solutions provider Avikus under HD Hyundai, the holding entity of the world’s biggest shipbuilding group, has succeeded in commercializing the industry’s first phase 2 autonomous..

SK Telecom reports 6% quarterly growth in Q2 on steady 5G application expansion SK Telecom reported Tuesday its second-quarter operating income rose 6 percent from the previous quarter on steady growth in 5G-based application businesses from pay TV to enterprise data clouding. T..

Korean builders show mixed results depending on housing market exposure Korean major builders have been grappling with shortage of supplies and high prices of commodities like cement and steel on top of housing slump at home, but with some exceptions with building orders ..

French fashion house Lanvin joins with Korea’s Handsome to launch golf wear in Korea South Korean fashion brand Handsome under Hyundai Department Store Group is launching premium golf label in collaboration with French high fashion house Lanvin to ride on the golf-wear boom in Korea. ..

BGF Retail beats bigger rival GS Retail in stock performance and income estimate South Korea’s second largest convenience store chain operator BGF Retail in terms of outlet count proving a winner in a bearish stock market is projected to outperforms its bigger rival GS Retail in a..

LG U+ joins heated race of Korean wireless majors to fend off Netflix on OTT front LG Uplus has joined the intensified over-the-top (OTT) media battleground among Korean wireless carriers by establishing stand-alone original contents and streaming unit through spinoff of children’s ..

KEPCO’s H1 loss to have neared $10 bn, options limited to relieve power monopoly State power monopoly Korea Electric Power Corporation (KEPCO) is projected to have incurred over 5 trillion won ($3.8 billion) in losses from operation in the second quarter after record quarterly red..

Korea Zinc brings Hanwha onboard for hydrogen sourcing, to up capacity in cooper foil biz South Korea`s metal giant Korea Zinc has entered into a strategic business alliance with Hanhwa Group to expand sourcing for renewable and hydrogen business, while ramping up copper foil capacity to d..

SKC achieves record sale H1, but income falls Q2 amid rising raw material prices SKC Co., chemical and tech material producing unit of South Korean conglomerate SK Group, suffered an 18 percent on-quarter fall in operating profit for April-June period on rising raw material cost, ..

Samsung Electronics to sign its first-ever collective bargaining agreement with unions Samsung Electronics is set to sign its first-ever wage agreement with a group of internal labor unions after 10 months of collective bargaining. The four labor unions of Samsung Electronics on Monda..

IPO delays of major Korean group units to hamper hereditary succession The chain of IPO setbacks and pullouts by big South Korean conglomerates could hamper their business expansion and hereditary succession schemes. Among high-profile withdrawals from this year`s IPO ..

Korean department stores betting high on home décor amid stay-at-home environment South Korea’s department stores are betting high on the home decor section amid growing interest in home interior as consumers are being forced to spend more time indoors in virus-risk environment. A..

HiteJinro resumes shipments of popular beer through emergency measure South Korea’s top liquor maker HiteJinro Co. on Monday has been able to renew shipping at its Gangwon plant responsible for most of its popular beer lineup during summer peak season by dispatching hea..

Shinsegae employs big-data curation to art collection on online shopping mall Shinsegae International under South Korea’s retail conglomerate Shinsegae Group is leveraging on big-data technology for art curation to better meet consumer tastes and build up aesthetic and luxury a..

Kia outselling Hyundai cars for the first time since joining Hyundai Motor family South Korea’s Kia Corp. no longer can be referred as a smaller sibling to Hyundai Motor Co. as its SUV-strong lineup has been outselling Hyundai cars and is set to finish the year as the No. 1 finishe..

Naver’s Q2 revenue at $1.5 bn without Line on blooming overseas online business Naver Corp. achieved quarterly revenue of over 2 trillion won ($1.5 billion) in the second quarter even without Japanese flagship chat app Line as thriving overseas demand for digital contents, mostly..

Korean Air flew strong H1, but H2 climate foggy on recession fear South Korea’s flag carrier Korean Air Lines Co. surprised with its operating and net income more than tripling against a year-ago period as a recovery in passenger flight added to still-strong cargo s..

Naver’s commerce biz in Japan to gain boost from SmartStore-PayPay collabo South Korea’s internet giant Naver Corp.’s commerce business in Japan is expected to gain a boost from enhanced ties between its online shopping platform solution SmartStore and PayPay, the largest QR..

CJ ENM posts net loss while Studio Dragon reaps quarterly best income Q2 South Korean media and entertainment giant CJ ENM behind award-winning Korean films recorded a net loss due to reduced box-office ticket revenue and home shopping upon lifting of social distancing mea..

KT&G’s Q2 OP up 1% to $250 mn with solid cigarette sales despite setbacks KT&G’s consolidated operating profit for the second quarter reached 327.6 billion won ($249.7 million), up by 1 percent from a year earlier, the Korean tobacco monopoly said in a regulatory filing on ..

Quantum-resistant cryptosystems to be widely adopted in 5 years: Professor Damien Stehle It was August 2016. The White House National Security Council (NSC) and the National Institute of Technology and Standards (NIST), a US government agency, issue a short memorandum of about 1,000 chara..

Pericarditis cases nearly double after Covid-19 vaccinations in Korea The number of patients with pericarditis that occur following Covid-19 vaccination has increased sharply in Korea this year, raising alarm about vaccine side effects.Pericarditis was recently recogniz..

Pharmicell pins hope for investigational stem cell therapy to treat alcoholic cirrhosis South Korea’s Pharmicell Co. will speed up the development of a stem cell therapy to treat alcoholic cirrhosis, while strengthening its market leadership in nucleoside business. Pharmicell sales in ma..

Korean biotech firms need active M&As to build economies of scale More active mergers and acquisitions (M&A) are needed in the Korean biotech industry to enhance global competitiveness, industry experts and government officials advised. “There are too many small-si..

Korean firms under spotlight for nasal spray protection against Covid-19 Several Korean companies are under the limelight with their exploration of simple nasal spray medicines to prevent respiratory viral infections, including coronavirus amid the resurgence of Covid-19 c..

Medytox’ China market plan hits snag due to partner’s cancellation letter Korean botulinum toxin manufacturer Medytox faces a setback in its plan to enter the Chinese market as its local partner Bloomage Biotechnology has expressed intent of terminating business partnership..

Celltrion files IND for Humira biosim interchangeability trial in U.S. Celltrion has filed an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) for a global Phase 3 clinical trial to demonstrate the interchangeability of its bios..

LG Chem files IND for Phase 3 study of gout drug in U.S. South Korea’s LG Chem has submitted an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) to evaluate its gout drug tigulixostat in a planned Phase 3 clinical tr..

Korean pharmas stride towards orphan drug development Korean traditional pharmaceutical companies are actively engaging themselves to orphan drugs for global recognition in rare disease treatment. Hanmi Pharmaceutical, Chong Kun Dang, and Daewoong Pharma..

Seoul moves to expedite support and deregulation in bio-healthcare sector The Korean government grooming biotech and healthcare sectors as key growth drivers for economy in the post-Covid world will expedite support and deregulations to encourage the development of blockbus..

K-bio names eagerly pursue open innovation with overseas partners for drug discoveries Major Korean biotech names have eagerly turned to open innovation with overseas partners in various forms and functions for faster access to innovative molecules and global markets.On July 13, JW Phar..

Cha Biotech’s CDMO arm envisions joining top five players by 2030 Cha Biotech’s U.S. subsidiary Matica Biotechnology is aiming to become among the top five players in the global contract development and manufacturing organization (CDMO) market with 1 trillion won ($..

HLB’s rivoceranib proven effective in esophageal cancer Precision cancer drug rivoceranib has demonstrated excellent therapeutic effectiveness, with 85 percent of patients showing tumor cell disappearance and/or more than 30 percent reduction in tumor size..

Samsung develops 2nd Gen SmartSSD with twice the computational performance Samsung Electronics Thursday said it has successfully developed a second generation of its computational solid-state drive (SSD), which features improved system performance and much higher energy effi..

Samsung may unveil Galaxy Z Fold 4, Z Flip 4 during Aug. 10 unpacked event Samsung’s upcoming Galaxy Unpacked event has been set for August 10, where the world’s largest smartphone vendor will unveil its latest gadgets and platforms, which may include the Galaxy Z Fold 4, th..

Korean businesses in new round of marketing war pledging full refund Full refund has emerged as a core marketing strategy to win consumers in South Korea in an uncertain business environment, raising concerns over unnecessary business cash bleeding. Domestic e-commer..

Naver’s hyperscale AI expedites commercial advance with hundreds of clients South Korea’s information technology (IT) giant Naver Corp. is speeding up commercial deployment of its hyperscale Korean-language artificial intelligence (AI) model Hyper Clova as a growing number of..

S. Korea succeeds in maiden flight test of its first stealth aircraft South Korea succeeded in the first flight test of its homegrown stealth aircraft KF-21 on Tuesday, moving a step closer to becoming the world’s 8th country with supersonic fighter jet development capa..

Samsung Biologics adding a new campus to double capacity at $5.3 billion Samsung Biologics is building a new campus at 7 trillion won ($5.3 billion) to double its capacity from its current rank, already at the world’s largest among biologics contract development and manufa..

Samsung Bioepis’ biosim SB11 further demonstrates similarity to reference Lucentis Samsung Bioepis Monday said the results of a post hoc analysis of the Phase 3 study of Samsung Bioepis’ biosimilar SB11 presented during a medical conference in the United States last week further dem..

SoCar sticks to IPO, but in 38% humbled pricing and 20% reduced offering South Korea’s app-based car-sharing pioneer SoCar has kept to IPO commitment after cutting back pricing of initial shares by 38 percent and offering by 20 percent, humbled by tepid institutional deman..

Local activist fund asks SK chemicals to dole out SK bioscience shares to shareholders South Korean activist fund Anda Asset Management has requested SK chemicals to dole out some of its holdings in SK bioscience to enhance shareholder value following plunge in stock value in the wake o..

Foreigners return with net buying near $2 bn on the Kospi in August Foreign investors who had cashed out of Korea Inc. worth 16 trillion won ($12 billion) in the first half have turned into bargain hunters, net buying 2.4 trillion won worth on the Kospi for eight cons..

Korean retailers migrate to bond market amid risk aversion environment Individual investors in South Korea are dumping the bearish stock market and shifting to the bond market in preference over safer assets amid growing economic uncertainties. According to the Korea Fi..

Naver, Kakao in cutthroat race in global e-fiction market ups fight vs piracy Korean platform behemoths Naver and Kakao fiercely vying over web fiction at home and abroad have upped defense against piracy and illegal distribution for the fight for sustainability in their conten..

SoCar IPO prospects murky upon disappointing institutional demand South Korea’s app-based car-sharing pioneer SoCar may be discouraged to go through its defiant IPO upon meeting scanty institutional demand in last week’s bookbuilding session in another proof of jitt..

Foosung mulling IPO of overseas operation, Kospi parent’s shares tumble South Korean chemical and materials company Foosung which has familial ties to the Hyundai owner family, is planning the IPO of its overseas holding company Foosung Global to expand its secondary batt..

Apollo Global Management and EMP Belstar to set up credit investment JV in Korea Apollo Global Management, a multinational asset manager with $512 billion under management, is setting up a private credit joint venture in South Korea with another U.S-based investment manager EMP Be..

Diageo’s sale of Windsor hits snag after key member of buyout drops out World’s top Scotch whiskey producer Diageo’s plan to sell Korea-origin whiskey brand Windsor has hit a snag as a key member of the buyout consortium has decided to abandon the ship to the upset of the..

Korea’s sovereign fund KIC may have insider Lee Hoon as new CIO Lee Hoon, head of strategy and innovation, will be promoted as the chief investment officer of Korea Investment Corporation (KIC), overseeing the management of the sovereign wealth fund through invest..

SK hynix, HANMI Semicon Kospi winners in operating margin with ratio over 30% SK hynix Inc. and HANMI Semiconductor Co. were the sole two Kospi members who earned more than 30 percent of their revenue from operations in the second quarter, whereas the overall operating margin o..

Samsung, Hyundai Motor lose market worth while LG and HHI add value in bear market South Korea’s top 20 business groups have lost 168 trillion won ($128.04 billion) in market capitalization due to bearish run for most of the year, while shipbuilding and defense heavyweights Hyundai ..

Meritz Financial in epic fall this year on active shorting, profit taking South Korea’s Meritz Financial Group Inc. shares that soared more than 350 percent last year have lost more than 50 percent from its January peak due to active profit taking and short selling triggere..

SoCar proceeding with bookbuilding while CJ Olive Young pulls out of IPO pipeline South Korea’s app-based car-sharing pioneer SoCar is pushing ahead with this week’s book-building for initial shares bound for Kospi, even as another anticipated candidate CJ Olive Young withdrew from..

Korean exporters scored better than expected in Q2, but H2 outlook uncertain Korea Inc. generally fared better than expected in the second quarter thanks to a weaker Korean currency against the U.S. dollar that aided exporters and stronger selling prices to cover higher raw ma..

Kospi set for a bear market rally throughout August: brokerages South Korea’s main benchmark Kospi index is forecast to sustain a bear market rally in August but its gains are likely to be capped at 2,600 due to economic downturn coupled with strong inflation, acc..

S. Korean shipbuilding stocks gain ground as H2 biz prospects look up South Korean shipbuilding stocks are on a rebound as second-quarter statement of shipbuilding majors flagged earnings improvement from rising backlog in high value-added vessel orders that have been f..

Foreigners behind over 90% of illegal short sale activities in Korea Nine out 10 investors accused of illicit short sale on South Korean stocks from 2018 had been a foreign national, data showed. Rep. Lee Jung-mun of the Democratic Party (DP) disclosed after a study..

Seoul’s additional short-sale regulation raises doubts over effect on easing volatility South Korea has unveiled measures to better level the playing field for retail investors in short selling, but whether the additional regulatory action can prevent volatility from excess shorting is i..

Kospi members keep up quarterly or half-year dividend tradition despite uncertainties Korean Inc. has continued to increase dividend payout including quarterly and half-year grants to turn shareholder-friendly despite bearish market conditions and murky business prospects. According ..

Korea on track to see annual inflation above 5% for the first time in 24 years South Korea is expected to finish the year at an inflation topping 5 percent for the first time in 24 years and faces lengthier run of strong prices as the expected inflation also nears 5 percent. A..

Korea’s 2023 minimum wage confirmed at $7.4, up 5% from 2022 South Korea’s minimum hourly wage for next year has been finalized at 9,620 won ($7.4), up 5 percent from this year, as agreed by the representatives of employees and employers last month, the Ministr..

Seoul authorities float the option of split sale of DSME amid widening losses The consensus is building up among South Korean state authorities to break up Daewoo Shipbuilding & Marine Engineering Co. (DSME) to facilitate privatization of the shipwright stricken with deficit an..

Korea’s C/A surplus thins by $3 bn June and nearly $17 bn H1 vs yr ago The surplus in South Korea’s current account thinned more than $3 billion in June on imports running stronger than exports from spike in commodity prices, raising concerns for growth in the external-r..

U.S. pressure mounts on Korea to join Chip 4 amid Pelosi visit to Taipei and Seoul U.S. pressure to join the so-called Chip 4 value chain is building up on South Korea as U.S. House Speaker Nancy Pelosi arrived in Seoul on Wednesday after her controversial trip to Taiwan that includ..

Seoul’s FX reserve adds $330 mn July, first increase in 5 months as intervention eases South Korea’s foreign exchange reserves added $330 million last month—the first net increase in five months – to suggest less dollar-selling intervention to prop up the Korean won on renew..

Korea’s governing party proposes sweeping tax incentives for chip industry Governing People Power Party (PPP) has packaged a South Korean version of Chips Act proposing to exempt taxes of up to 30 percent for new chip facility and fast-track creation of chip clusters under s..

Korea’s inflation steepest in 24 yrs, rising above 6% for the second month in July South Korea’s inflation rate galloped at over 6 percent for the second straight month in July in the fastest pace in nearly 24 years as expensive fuel and commodity prices spilled across the board fro..

BOK chief sees inflation peaking out Q4, reiterates gradual rate increases Bank of Korea Governor Rhee Chang-yong reiterated that the Korean central bank would keep to incremental raises in 25 basis points as he sees the inflation running at 6 percent would peak out in the f..

Use of revolving credit, multiple loans surge in Korea amid rising inflation South Koreans are opting to carry over their credit card dues and increasing borrowing from multiple lenders as their living affordability worsens from rapid rises in interest rates and inflation. Th..

Korea’s power demand hit an all-time high in July and reserve nears alarming level South Korea’s electricity demand hit a record high in July, while supply reserves neared alarming level for the first time in nine years amid sweltering heat wave and increased business activity again..

Korea’s trade deficit at $15 bn by July, first red streak in trade with China (Updated with additional information and comments) South Korea added $4.67 billion in deficit from trade activities last month to put the cumulative red in the trade balance at $15.03 billion in July..

Korea’s factory output picks up on capex gain, consumption sluggish longest in 24 yrs South Korea’s factory output strengthened from the previous month in June, backed by increased corporate investment, while consumption contracted for four straight months, the longest period in 24 yea..

Seoul authorities to seek short-term USD liquidity via financial institutions to back KRW South Korean authorities will encourage local financial institutions to bring short-term dollar-denominated liquidity to home to help stabilize the Korean won as they see restrengthening in the U.S. d..

Korean markets shrug off another big Fed step placing U.S. rates above Korea’s South Korean markets shrugged off the back-to-back 75-basis-point hike in U.S. base rate that placed U.S. rates above Korea’s as they have already factored in speedy tightening in the U.S. and Korea. ..

Seoul lifts regulations to enable $1.23 bn capex in heavy industries South Korea’s three large companies – Hyundai Heavy Industries, LG Chem and Lotte Chemical –are free to proceed with their facility investments worth a combined 1.6 trillion won ($1.23 bil..

Korea to expand tax benefits for global M&As in chip, vaccines and battery sectors South Korea is seeking to expand tax benefits to facilitate domestic M&As of foreign entities in the areas of semiconductors, vaccines, and batteries dubbed national strategic assets amid intensifying..

Consumer sentiment dips to 2-yr low in Korea as expected inflation hits all-time high Consumer expectation for the inflation rate in the following year hit record-high of 4.7 percent in July to add more pressure to the inflation already running at 6 percent and unprecedentedly fast mon..

S. Korea’s GDP gains 0.7% Q2 vs Q1 on consumption recovery The South Korean economy added 0.7 percent in April-June period from the previous quarter despite reduced exports on the recovery of consumption from the lifting of Covid-19 social distancing rules. ..

Korea’s exports to China fall and those to U.S. rise amid shift in trade order South Korea shifting towards the U.S.-led alliance on global supply chain has been incurring trade deficit against China this year for the first time since normalization of ties as China-bound shipmen..

Jeju Air reduces chartered Jeju-Bangkok flights amid surge in illegal migrant workers Flight services to and from South Korea’s Jeju Island and Bangkok will be cut back from this week as authorities strengthen border controls to prevent illegal migrant workers abusing the visa waiver t..

Seoul to sell $12 bn worth of idle state-owned assets over 5 yrs to boost finances The South Korean government has decided to sell state-owned properties worth more than 16 trillion won ($12.3 billion) over the next five years, including idle and unused land and buildings, to aid wi..

Koreans free to trade used EV batteries, but lack of state rules may cause harm Reuse and recycling of used-up electric car batteries become available to private entities from this year in Korea, but confusion is inevitable due to lack of state safety and quality assessment stand..

Seoul to lay out conditions for joining Chip 4 alliance as not ruin exports to China South Korea will lay down the ground rules for joining the so-called Chip 4 alliance among the U.S., Japan, and Taiwan in a preliminary meeting with the United States early next month as not to damage..

S. Korean fighter jets join air show over pyramids to raise hope for deal with Egypt Upon the success of clinching a milestone $14.5 billion arms deal with Poland, South Korea is pushing harder on overseas defense campaign as its “Black Eagles” on Wednesday became the first non-Egypti..

S. Korea goes on its first trip to the moon on successful launch of lunar pathfinder The Korea Pathfinder Lunar Orbiter (KPLO) dubbed Danuri has embarked on maiden five-month journey to the moon on a successful liftoff by a SpaceX Falcon 9 rocket from Cape Canaveral in the United Stat..

Instagram becomes No.1 social networking app in Korea, beating Naver Band Instagram, a photo and video sharing app owned under Meta Platforms, has topped in terms of monthly active users (MAUs) in Korea, beating Korea’s homegrown social media Naver Band for the first time. ..

Beijing protest air drills around Taiwan cause a flurry of flight changes by Korean airliners South Korea’s airlines, full-service carriers Asiana Airlines and Korean Air Lines, revised their flight schedules to Taiwan, as China has started military exercises around the island amid the escalat..

S. Korea moves to countdown on maiden lunar mission of Danuri Korea’s first lunar probe Danuri, officially known as the Korea Pathfinder Lunar Orbiter (KPLO), is all ready for takeoff on Friday. According to the Ministry of Science and ICT on Thursday, Danuri ..

Seoul may relax minimum pay threshold for E-7 foreign working visa South Korea is mulling to lower annual minimum wage threshold for E-7 special occupation visa, the most commonly known working visa for foreigners in Korea, to make up for the dire labor shortages in ..

Korea Finance Society flourishing with more ethnic Koreans active on Wall Street The Korea Finance Society (KFS), a Korean-American financier community, has expanded to 2,500 from modest founding with 300 in 2010 with the backing of Korea’s top business news publisher Maeil Busine..

Korea’s financial watchdog could take its case vs Woori chief to top court South Korea’s Financial Supervisory Service (FSS) is out to go all the way, or the top court to appeal against lower court rulings relieving Sohn Tae-Seung, chief of Woori Financial Group, from liabil..

2022 WKF to discuss 4IR, environment, geopolitical stability for global prosperity Asia’s biggest business forum World Knowledge Forum this year will bring together entrepreneurs and pundits to deliberate on the theme of restoring global trust and order through Fourth Industrial Rev..

Korea`s antitrust move to identify foreign national as corporate chief faces US complaint The U.S. has formally complained against the South Korean antitrust agency’s plan to identify foreign nationals as business conglomerate representatives to make them subject to the same legal liabilit..

S. Korea’s population falls for the first time, likely join super-aged society faster at 2024 South Korean population officially has thinned for the first time last year since government founding, with faster-than-expected accelerating in aging to turn the country “super-aged” from 2024, data ..

S. Korea out to set legal grounds for urban air mobility H2 South Korea next month will propose setting the legal grounds for the take off of urban air mobility (UAM) transportation system as the first in the world. According to the Ministry of Land, Infrastru..

Music is a mixture of cultures just like food: Grammy-winning social entrepreneur Leong Think about where the food we eat comes from. If we think about it, we can see how precious it is to have different cultures around the world,” said Dana Leong, a two-time Grammy Award-winning musicia..

FSS probing over $3 bn suspicious foreign exchange remittances at local banks South Korea’s financial watchdog has found over 4 trillion won ($3.06 billion) worth of dubious funds remitted overseas through local bank branches and is investigating illicit profiteering and crypto..

Korea’s justice ministry proposes to make e-voting by shareholders valid from 2023 Shareholders of publicly trading South Korean companies may be able to exercise their voting rights via online from as early as next year as the Korean justice ministry seeks to revise the local comme..

Seoul to turn Yongsan’s former train depot into landmark business district The Seoul Metropolitan Government has unveiled an ambitious plan to turn a massive idle land near Yongsan Station in central Seoul into the “Asian Silicon Valley” with global high-tech firms, resident..

Firms expand investment in battery industry for EVs HÀ NỘI — As Việt Nam`s electric vehicle (EV) market grows, the demand for batteries and energy storage solutions is accelerating and attracting the attention of many investors. ..

Major logistics centre developing in the south of HCM City HCM CITY — With the advantages of geographical location and investment plans for land around ports, the 17-hectare Tân Cảng-Hiệp Phước (TCHP) Port situated in HCM Cit..

Palm oil prices to fall more due to distress selling by Indonesia Palm oil prices will weaken further in the short term due to softer demand and "distress selling" by top producer Indonesia, commodities consultancy LMC International forecast on Tuesday. Malaysia`s b..

Indonesia’s record trade surplus ‘unsustainable’ as CPO prices plummet Indonesia achieved its biggest-ever trade surplus in the first half of 2022, but experts warn that relying on raw materials like crude palm oil (CPO) and coal as the bulwark of productivity is unsusta..

Tech investors wary amid volatile market While digital assets are still on the radar of local banks seeking long-term growth opportunities, they plan to be more cautious when investing in them amid a volatile market, say banking chiefs. Pru..

Explainer: Exploring the land scheme for foreigners The government`s latest bid to attract affluent foreigners involves offering the ability to purchase land for residential use in the country. While this proposal is intended to reinvigorate the econom..

Laos market favoured by many Vietnamese investors: Trade counsellor HÀ NỘI — The Lao market remains a top destination for many Vietnamese investors as the two countries are neighbours and Laos recognises most quality certifications from exporting coun..

Global economy to hit Thai tourism The Tourism Authority of Thailand (TAT) forecasts revenue of 1.2-2.38 trillion baht next year, according to its new 2023 strategy, but this is likely to be challenged by global inflation and rising in..

Wood exports forecast at $16.3 billion this year HÀ NỘI — The export of timber and wooden products is forecast to reach US$16.3 billion in 2022, close to the target set at the beginning of the year, according to the Việt Nam A..

Government removes palm oil export levy until Aug. 31 Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finance ministry officials said on Saturday, adding the mo..

SMEs call for suspension of planned fuel tariff increase The Federation of Thai SMEs is asking the government to delay an increase in the fuel tariff (Ft) scheduled for September as they struggle to stay afloat amid mounting economic problems. The Ft, whic..

Việt Nam`s economy is developing rapidly: expert According to the General Statistics Office, in the first six months of the year, Việt Nam`s economy showed signs of growth, such as a strong increase in the service industry and a rising number ..

Indonesia to enact mandatory B35 biodiesel program as global CPO prices fall The Energy and Mineral Resources Ministry is to start implementing the mandatory 35 percent biodiesel (B35) program for all biofuels by the end of July amid the global decline in crude palm oil (CPO) ..

Southeastern region’s 15-year development reviewed HCM CITY — Prime Minister Phạm Minh Chính stressed the need for a joint mechanism to manage the development of the southeastern region and the southern key economic region. He was sp..

Superapp Traveloka gears up for tourism recovery with digital innovations Travel and tourism, the industry hit hardest by the coronavirus pandemic over more than two years, has started to bounce back amid the increasingly eased restrictions and people’s growing interest in ..

South Korean hotel chain opens in Nha Trang NHA TRANG — South Korean hotel management company CHI Hospitality International has inaugurated a Stay7 International Hotel in the central city of Nha Trang to take the opportunity from the reco..

India`s July palm oil imports may surge to 10-month high India`s palm oil imports in July are set to jump to the highest in 10 months because of a hefty correction in prices and as Indonesia allows more exports of the tropical oil, four dealers told Reuters..

Rising costs cast doubt on wood companies growth prospects HÀ NỘI — As wood export turnover is rebounding with rising demand in the domestic market, the revenues of wood enterprises are expected to advance. However, skyrocketing prices of ..

Consortium involving Incheon operator starts running Batam airport A new consortium involving top South Korean airport operator and two Indonesian state-owned enterprises (SOEs) started work on a 25-year operatorship of the Hang Nadim International Airport in Batam, ..

Feed prices to increase in July HÀ NỘI — Livestock feed prices have increased five consecutive times since early 2022 and the six is to come in July. Koji Inoue, general director of the Kyodo Sojitz Animal Feed LTD..

Neowiz’s Neopin adds to Web 3.0 hype after Wemade creates slash with Wemix 3.0 Neopin, a blockchain subsidiary of South Korea’s mid-tier game publisher Neowiz, plans to introduce multi-chain services supporting multiple blockchains by June next year in a move to advance into glo..

Korea’s defense min implies BTS members can join global tours while on military duty BTS members could continue with their musical engagements and also join overseas tours while serving in the military, South Korea’s defense minister said, promising privileges for the K-pop global sta..

Naver WEBTOON published “Lore Olympus” wins Eisner Award Lore Olympus, a romance e-comic discovered and published by Korea’s Naver WEBTOON, won the Eisner Award for “Best Webcomic” on Friday, another feat representing South Korea`s production ability in ori..

Extraordinary Attorney Woo set to become next Korean drama syndrome The ongoing Korean television series “Extraordinary Attorney Woo” about a genius novice lawyer with autism spectrum disorder (ASD) is a surprise sensation not only in Korea, but across the world and i..

Squid Game becomes first non-English drama to gain multiple Emmy nods “Squid Game” the most watched Netflix series of last year made another milestone for a Korean original content by becoming the first non-English series to be nominated for multiple Emmy Awards. Acco..

Demand for Korean language and studies rises on renewed K-wave fervor Global learning in the Korean language has spiked in line with renewed fervor over Korean entertainment contents and stars last year when BTS and Squid Game created a splash. According to the Nationa..

Korean celebrities in favor by luxury fashion houses as their global faces South Korean celebrities are being chased by traditionally picky luxury fashion houses to represent their brands in line with the ascension of Korean contents and their global popularity. K-pop girl ..

Kakao Games shares up 11% on successful debut of “Uma Musume Pretty Derby” Shares of Kakao Games Corp. are running high on successful debut of new title “Uma Musume Pretty Derby,” which ranked top on Apple’s App Store by revenue on the first day of release in Korea. Kakao G..

Home-taught Korean pianist Lim Yunchan becomes Cilburn’s youngest gold medalist South Korean 18-year-old pianist Lim Yunchan has been crowned the winner of the 2022 Van Cliburn International Piano Competition, becoming the youngest-ever gold medalist in the 60-year-old piano comp..

BTS nearing military enrollment legal age taking time off, Hybe shares 23% down After uninterrupted nine-year activity and stunning ascension to unquestionable global superstar, K-pop household name BTS is taking a breather, timed with military enrollment applied to all able Sout..

Squid Game director’s 18-rating film KO Club project to be brutal satire on age conflict “Killing Old People Club (KO Club)” could be more uncomfortably brutal dystopian movie screen version of “Squid Game” to underline the extreme collective rage of modernity, said the director of the Ne..

Yakuza is the villain in the second sequel to The Roundup: director In the third film in the “The Outlaws” franchise which starts filming in July, police hero Ma Dong-seok will be fighting Yakuza or Japanese gangsters, teased Lee Sang-yong, the director behind one of ..

Korean entertainment back in the global limelight with BTS, Squid Game 2 and Roundup Korean entertainment power after the Cannes feat is back under global spotlight with music and film ascending in charts and global syndrome Squid Game 2 under making. K-pop sensation BTS dropped the..

Korean painter Woo Kukwon’s artwork sells for $241,429 in Christie`s Hong Kong Art Auction Rising artist Woo Kukwon, dubbed Korea’s next Jean-Michel Basquiat, has sold his artwork for 300 million won ($241,429), more than 23 times its estimate, to suggest the ascension in his international ..

South Korean films shine at the 2022 Cannes Film Festival South Korean films won big at the 75th Cannes Film Festival held in France with actor Song Kang-ho taking home the best actor award for drama film Broker and director Park Chan-wook clinching the best..

Korea’s football superstar Son readying a goal in business with fashion brand Tottenham’s South Korean Hotspur Forward Son Heung-min is readying to launch his fashion brand dubbed “NOS7.” Son returned home Tuesday, carrying the First Golden Boot presented to an Asian from the ..

Korean game publishers fueling Q2 pipeline on new games after hiatus in Q1 South Korean game publishers will speed up rollout of new titles in hopes to win back gamers and investors after disappointing performance in the first quarter. Kakao Games Corp. will introduce “Uma ..

Biggest K-pop fan celebration KCON kicks off global premier roadshow in Tokyo An offline event by the KCON, the world’s largest fan celebration of Korean culture and music, held for the first time in two years in Tokyo was met with enthusiastic response by Japanese fans. The K..

League of Legends Mid-Season Invitational kicks off in Busan, Korea The League of Legends (LoL) Mid-Season Invitational (MSI), hosted by Riot Games, kicked off in Busan on Tuesday, in the first contest held in South Korea and first offline event in two years. The MS..

Kang Soo-youn, Korea’s first internationally recognized actress, dies at 55 Kang Soo-youn who had been among the first South Korean actresses to claim international awards, passed away on Saturday at the age of 55. She was admitted to the hospital last Wednesday after being..