Lotte chief Shin stresses innovative new ideas, quality growth for long term South Korea’s fifth largest conglomerate Lotte Group chair Shin Dong-bin who has been emphasizing the importance of breaking down conventional approaches has ordered employees to cut bureaucratic red ..

Seoul orders 7 import, domestic carmakers to recall about 30,000 units Tesla, Bayerische Motoren Werke AG (BMW) and Hyundai Motor are among seven car makers that have been ordered to recall nearly 30,000 vehicles for various vehicle defects. The Ministry of Land, Infra..

SeAH Besteel to split into holding entity and unlisted special steel business unit SeAH Besteel Corp. will split into a holding entity spearheading new growth engines and a business unit focusing on special steel manufacturing operations to better respond to rapidly changing busines..

Hyundai Motor, IonQ cooperate to develop more efficient, safer EV battery South Korea’s Hyundai Motor Co. has embarked on the process to produce its own electric vehicle (EV) battery as it has joined hands with U.S. quantum computing company IonQ to initiate research on the..

Kakao opts for Namgoon Hoon as solo CEO in hopes to restore confidence Kakao Corp. will nominate Namgoon Hoon, head of Kakao Future Initiative, as solo CEO, dumping co-leadership structure amid scandal over stock options. Kakao said Thursday that its Director Candidate..

Samsung Elec returns to top in global chip sales last year, SK hynix third Samsung Electronics has returned to the peak in the global chip industry last year upon beating Intel in sales, according to research firm Gartner. The company’s revenue from memory chips amounted t..

Korea’s big-box stores enhance gourmet and shelf choices to woo back consumers South Korea’s major big box supermarket chains are going bulkier, gourmet, and trendy to woo back consumers from online shopping and delivery sites. Offline retailers endured a loss of 10.3 percent i..

SK hynix celebrates 10th year as SK family with epic success story Over the 10 years SK hynix has become a part of SK Group, the chipmaker has turned around nicely as the world’s third largest in terms of sale after Samsung Electronics and Intel and the most importan..

Osstem may go under new ownership if management found liable for embezzlement Osstem Implant Co. under investigation by law enforcement and financial authorities for fraud and mismanagement following a major employee embezzlement scandal may have to be sold to save South Korea’..

Edison Motors demands co-management of SsangYong, court unlikely to accept South Korean electric bus maker Edison Motors leading a consortium which has signed a final contract to take over SsangYong Motor Co. has recruited a former SsangYong executive to field him as a co-ma..

SK Innovation develops fire suppression technology for ESS SK Innovation has developed a heat transmission prevention technology that can block the spread of fire inside a battery pack, making a breakthrough in the lithium-ion battery energy storage system (E..

S-Oil to develop low-carbon energy solutions with Saudi Aramco South Korea-based petroleum and refinery company S-Oil Corp. under ownership by Saudi Arabian Oil Company (Saudi Aramco) will develop new energy solutions with its parent company. S-Oil and Saudi Ara..

Doosan Heavy I&C, Aramco to build Saudi’s largest casting & forging factory South Korea’s Doosan Heavy Industries & Construction Co. (Doosan Heavy I&C) will build Saudi Arabia’s largest casting and forging factory with an annual capacity of 60,000 tons, which would be the lar..

Ably achieves largest $583 mn in GMV in 2021 on robust cosmetics biz Ably, South Korea`s major fashion platform, posted record high 700 billion won ($583 million) in gross merchandise volume (GMV) last year thanks to brisk sales of beauty products, the company announce..

Owner helm behind Korean Air shaken after chair’s mother sells shares in Hanjin KAL The owner helm behind South Korean flag carrier Korean Air Lines readying to become a monopoly in full-service air transport could come another challenge after the stake ownership by Hanjin Group chai..

KT to back Yandex’s delivery robots’ entry to Korea by year-end South Korea’s telecom major KT Corp. is introducing delivery robots of Russian tech giant Yandex N.V. this year to ready entry into the robotics delivery market before it becomes fully liberalized.KT ..

Samsung Elec releases mobile processor from 4nm in collabo with AMD Samsung Electronics Co. unveiled latest version of its mobile processor in enhanced graphics architecture designed by Advanced Micro Devices (AMD) to better support gaming capabilities in smartphones...

Kurly targets $2.5 bn in GMV in 2022 ahead of IPO Kurly Corp., operator of South Korea’s fresh food delivery platform Market Kurly going public in the second quarter, anticipates to achieve 3 trillion won ($2.5 billion) milestone in gross merchandise..

Hyundai, Kia, Genesis connected car service brands to be integrated into one South Korean auto conglomerate Hyundai Motor Group will integrate its connected car service brands of each unit into one to meet the growing demand for advanced connected car services that have become..

US with tax and other incentives turns into battlefield for global chip leaders The United States has become a battlefield for global chip leaders Samsung Electronics Co., Intel Corp., and Taiwan Semiconductor Manufacturing Company (TSMC) as they capitalize on various incentives ..

Strict regulations block commercial launch of bloodless syringe in Korea An innovative bloodless syringe needle developed three years ago in South Korea is barred from going to market in the face of regulatory barriers despite its high demand for the prevention of secondar..

S. Korea emerges as major global manufacturing hub for Covid-19 treatments Domestic pharmaceutical companies have proved their manufacturing prowess to the world after they successfully won consignment production orders for oral Covid-19 medicines treatment on top of Covid-1..

Korean pharma cos challenging ever-growing diabetes market with novel treatments Big pharmaceutical companies in South Korea are rushing to challenge the global diabetes drug market estimated at 140 trillion won ($117.4 billion) through novel treatments. LG Chem Ltd. announced ..

S. Korea ups budget for AI chips and arranges business deal with Saudi govt South Korea is spending more than 1 trillion won ($840 billion) through 2029 to promote an ecosystem for AI chip as the government goes all-out to enhance AI power for national competitiveness. The ..

Korean startup Bepro rises as global coach behind ball games Son Heung-min is Korea’s star player on the English Premier League, but off the field, startup Bepro Company is a rising name among global soccer clubs for its AI-enabled solutions in football trainin..

Seegene expects to keep up sales hot streak on global test kit demand South Korean multiplex molecular diagnostics company Seegene Inc. has seen monthly sales more than double from the year-end and expects record-breaking streak in sales for the third year of pandemic a..

CrystalGenomics and GemVax advance clinical test for pancreatic and Alzheimer’s illness South Korean bio names CrystalGenomics and GemVax & Kael gained clearance from U.S. and domestic authorities to proceed with clinical trials for pancreatic cancer treatment and Alzheimer’s disease, re..

ILIAS gains speed in world’s first clinical trial of exosome-based novel drug ILIAS Biologics will submit an IND application to Australian authorities in February this year for the world’s first Phase 1 clinical trial of its exosome-based anti-inflammatory drug candidate (ILB-2..

KAIST achieves breakthrough in solid-state Li-Ion battery to drive 800km on a single charge South Korean scientists have achieved a breakthrough in solid-state lithium battery for electric vehicles that can dramatically lengthen drive on single charge and ensure greater safety. According to ..

Samsung Biologics readying to build more CMO plants, eyes global M&A South Korea’s Samsung Biologics will start building its fifth plant as its fourth plant will become partially operational this year to cement leadership in consigned drug production, according to its ..

Hanmi Pharm expects FDA nod for 2 drugs, to begin mRNA vaccine clinical trials South Korea’s Hanmi Pharmaceutical is expected to receive FDA approval for "Rolontis", a treatment for neutropenia and “Poziotinib”, an anticancer drug this year. The company also announced that it h..

Samsung Elec demonstrates novel in-memory computing for AI chip edge Samsung Electronics has successfully demonstrated the world’s first in-memory computing based on MRAM (Magnetoresistive Random Access Memory) and publicized it on the Nature, the company said on Thurs..

Liveome inks contract with two foreign CDMOs for IBD drug development Liveome, a subsidiary of Kosdaq-listed Medytox, said on Tuesday it has signed a contract development and manufacturing organization (CDMO) agreement with Australia’s Luina Bio and Britain’s Quay Pharm..

SK Pharmteco envisions $2 bn revenue by 2025 by adding CDMO for cell/gene therapeutics South Korea’s SK Pharmteco is aiming to generate annual revenue of about $2 billion within three years with its aggressive entry into cell and gene therapeutics markets based on stable growth in contr..

Kolmar teams up with Sungkyunkwan Univ to develop recombinant human collagen Kolmar Korea, a cosmetics and health care company based in Seoul, has joined hands with Sungkyunkwan University’s Biofoundry Center to develop recombinant human collagen that could be applied to funct..

Former Samsung men, Xsamsung and Maekyung to back Korean startups’ global push Xsamsung, a global community of former Samsung employees currently active as entrepreneurs, venture investors, and other big tech-firm employees, will team up with South Korea’s business news conglome..

Korea develops oral bacteria-based vaccine mechanism vs Covid-19 Korea University’s Allergy Immunology Center on Thursday said its research team has successfully developed an oral bacteria-based vaccine technology which can be safely used as a platform for an orall..

SK Biopharmaceuticals to develop new anti-seizure medication South Korea’s SK Biopharmaceuticals on Wednesday said it has forged a partnership with Biorchestra, a local bio-venture dedicated to RNA-based therapeutics, for joint research and development of new t..

Hyundai to use robots to enable unlimited freedom of movement: CES 2022 Hyundai Motor Group will expand the scope of human movement beyond the real world, leveraging its robotic technology, which has become one of its core future growth engines after the South Korean auto..

Tiniest baby in Korea survives non-surgical closure of ductus arteriosus Samsung Medical Center’s team of pediatricians have achieved a new milestone with a successful non-surgical treatment for patent ductus arteriosus (PDA) in a newborn baby weighing only 1,760 grams, ma..

Hyundai Engineering to lead IPO book-building next week Hyundai Engineering Co., the plant engineering unit of Hyundai Engineering & Construction, will kick off institutional book-building for its initial public offering (IPO) next week amid lingering conc..

LG Chem rebounds after losing 15% ahead of EV battery unit’s IPO subscription LG Chem Ltd. stock is expected to gain momentum on its solid business outlook after it was battered by hefty selloffs before institutional and retail subscriptions of its most lucrative business subsi..

SK Bioscience, SK IET employees enjoy profits from IPO, but Krafton with loss Employees of SK Bioscience Co. and SK IE Technology Co. that invested in equity offerings last year under employee stock ownership plan (ESOP) have reaped significant gains with the stellar stock perf..

Law & Company completes Series C investment, pooling 23 billion won Law & Company, South Korea’s legal service platform, succeeded in pooling 23 billion won ($19.3 million) in a Series C funding round last year, becoming Korea’s first legal tech startup to draw fundin..

Centroid to refinance TaylorMade Golf buyout loans at lower costs South Korean private equity firm Centroid Investment Partners will refinance its buyout loan for TaylorMade Golf Co. at lower costs just six months after its acquisition of the California-based golf e..

Korea’s big music label stocks set for rebound in H2: analyst Shares of South Korea’s big music labels sluggish amid monetary tightening environment are expected to go up higher from the second half on expectations for upbeat performance on expanded business usi..

Deposits and settlements for offshore securities by Koreans hit record high Korean deposits for offshore securities surged to record-high of $100.6 billion last year after rising 39.3 percent from a year-ago period amid booming U.S. stocks, according to the Korea Securities D..

PEFs sweep 85% of Korea’s major M&A deals last year, readies more this year Private equity firms were involved in 17 out of 20 biggest South Korean M&A deals, helping to push the M&A market to a record-high last year, and are gearing up for more this year, study showed.Their ..

KSOE set on Hyundai Samho Heavy Industries’ IPO for this year Korea Shipbuilding & Offshore Engineering, the shipbuilding holding company of Hyundai Heavy Industries Group, reiterated that it is set to go public with Hyundai Samho Heavy Industries this year, reg..

Korean corporate debt market gains heat before rates go higher South Korea’s corporate bond market has gained life after earlier year-end hiatus amid rising interest rate environment, enabling even the lower-investment grade issuers to raise funds.Korean Inc. has..

Retail credit loans add $1 bn on the first day retail bids opened for LGES South Korean banks’ credit loans grew by nearly 1.4 trillion won ($1.1 billion) on Tuesday alone when two-day retail subscription for initial shares in LG Energy Solution began.According to Korea’s fi..

Kakaopay Securities loses 20 employees, raising another stock option scare As many as 20 out of total 200 payroll on Kakaopay Securities have left the company to move to another, which could reignite ethical questions related to Kakao Pay with employees cashing in on generou..

Hyundai Capital sells $700 million global bonds to back Hyundai’s green drive Hyundai Capital Services Inc. has sold $700 million in green bonds to back Hyundai Motor Group’s push in electric and hydrogen vehicles. The dual-tranche bonds broke down to $400 million offering in..

LGES IPO draws near $100 bn retail bids, causes market selloff Retail frenzy was as hot as the astronomical institutional craze over the LG Energy Solution IPO, with deposits for public subscription swelling to near $100 billion at the expense of falls in both Ko..

EcoPro BM ascends to No. 1 market cap stock on Kosdaq Secondary battery materials maker EcoPro BM Co. has become the bellwether of South Korea’s junior stock market Kosdaq after its market capitalization was swelled to 10.05 trillion won ($8.4 billion) o..

Affinity Equity offering Burger King Korea, Japan operations for sale Global fast food chain Burger King operations in Korea and Japan with combined value of over 1 trillion won ($839.4 million) are put up for sale as Hong Kong-based private equity firm Affinity Equity ..

SillaJen shown out the door, unsettling shareholders from Kosdaq delisting South Korea’s scandal-ridden biotechnology company SillaJen Inc. is set to be kicked out of the secondary Kosdaq market, triggering strong backlash from shareholders and doubts about corporate viabili..

Shinhan Investment manages $120 mn financing in Baring PE’s HGS Healthcare buyout Shinhan Global Investment Banking (Shinghan GIB), an investment banking unit of South Korea’s Shinhan Financial Group, has arranged $120 million in mezzanine financing to back Baring Private Equity As..

KOFIA toughens rules for IPO institutional bidders South Korea will toughen the guidelines in institutional bidding for Korean initial public offerings to prevent expedient and irregular activities amid IPO frenzy. According to multiple sources from ..

Korean bio stocks struggle as series of scandals weigh down the category South Korean bio stocks have started the new year on a bearish note, weighed down by confidence issue in the category following the embezzlement scandal at Osstem Implant, whose stock is suspended on ..

S. Korea earmarks $11 bn for this year’s first extra budget for small businesses The South Korean government has proposed to allocate 14 trillion won ($11.7 billion) for this year’s first supplementary budget to support small business owners hit hard by Covid-19 social distancing ..

Korea’s real estate tax income jumps on soaring housing prices last year South Korea recorded large extra tax revenue close to 60 trillion won ($50 billion) last year after the country’s soaring housing prices swelled the government’s real estate tax income, especially wit..

One out 5 foreign cars sold in Korea had been luxury priced above $84,000 Sales of luxury foreign cars costing 100 million won ($83,815.27) or above soared more than 50 percent last year in South Korea, reflecting pent-up demand by the rich constrained at home amid protract..

Korea’s auto output, domestics sales fall, exports value rise in double digits in 2021 South Korea’s automobile output and domestic sales contracted last year against a year ago amid protracted Covid-19 situation and global chip shortages, although exports expanded in double digits in t..

Korea’s budgetary increases under pandemic outweigh past 20-year total Frequent budget increases in South Korea during the last two years under Covid-19 have come to outweigh 20-year additions before 2020.According to the Ministry of Economy and Finance on Monday, the Ko..

Korea Eximbank to finance $150 mn to Trafigura for stable base metal supply to Korea South Korea’s state lender Export-Import Bank of Korea (Korea Eximbank) last month agreed to provide a $150 million financial aid to Singapore-based multinational commodity trading company Trafigura t..

Rent demand to challenge Korean banks in keeping household debt in check The share of leveraged long-term housing lease in household loans surged to more than 40 percent last year amid soaring rent prices due to shortage from jump in housing value and taxation in South Kor..

KEPCO bottom line to deteriorate on soaring renewable cost State utility Korea Electric Power Corporation (KEPCO) projected to have incurred operating losses of more than 4 trillion won ($3.3 billion) last year would be further weighted down by the surge in r..

Seoul goes out of sync with monetary tightening via rare budgetary increase in Jan The South Korean government on Friday proposed further loosening in record-sized 608 trillion won ($513 billion) budget for this year by seeking the first increase in January since the middle of the K..

BOK delivers third hike in 5 mos in Jan, signals the key rate going up to 1.5% South Korea’s central bank has moved on with a third hike over a span of five months in January as inflation poses ongoing danger and plans to deliver at least one more increase as the economy could a..

S. Korea’s tax revenue larger by more than $46 bn from a year ago by Nov South Korea collected more than 55 trillion won ($46.2 billion) in tax revenue in the first 11 months of last year from a year-ago period, missing original surplus estimate by 9 trillion won by Novemb..

S. Korea’s national debt grows by largest-ever $256 mn under Moon government South Korea’s national debt stretched by largest-ever under President Moon Jae-in who kept up record-sized fiscal spending to increase welfare benefits and fight Covid-19.According to data obtained by..

S. Korea beats employment target with 7-year best gains in 2021 payroll South Korea delivered the highest addition in payroll in seven years last year, helped by tax-financed hires in the health and public sector and booming exports, data showed. The annual count in the ..

S. Korea’s exports up 24.4% in Jan. 1-10, imports stronger with 57% jump South Korea’s exports stayed robust in the new year after a record-breaking 2021, gaining more than 20 percent in the first 10 days of January against a year ago on strong demand for mainstay chips, p..

S. Korea’s C/A surplus tops $84 bn by Nov, but black narrows on faster imports gain South Korea was able to maintain its surplus streak for the 19th consecutive month in November, but the black sharply narrowed due to bigger rise in imports from soaring fuel cost, data showed. Accor..

Korea’s bigger tax surplus to fuel political demand for extra budget South Korean rivalling parties are pressing for a supplementary budget just a month into the new year budgeted with another record spending on increased tax revenue from surge in property taxes ahead ..

NPS plan on shareholder derivative action draws strong protest from business The National Pension Service (NPS) has put on hold its move to empower an independent body responsible for acting out stewardship role of South Korea’s largest public institution over listed companies..

FDI to S. Korea at record high last year amid bio and components strength Foreign direct investment (FDI) to South Korea surged 42 percent on year to a historic high of near $30 billion last year. According to the Ministry of Trade, Industry, and Energy Monday, FDI in regi..

KRW loses psychologically-important 1,200 vs USD, fanning inflationary pressure The South Korean won has broken the psychological level of 1,200 versus the U.S. dollar Thursday and may stay exceptionally weak to aggravate inflationary pressure amid surging imported fuel cost on f..

Korea’s agricultural and fishery hit record high of $11.36 bn in 2021 South Korea’s agro-fishery product export topped $10 billion last year through upgraded farming technology and growing popularity of Korean produces. The country’s agriculture and livestock products e..

South Korea’s EV subsidies for 2022 to be cut The price of electric vehicles in South Korea may rise this year as the government has decided to downsize subsidies on EV purchases, effective as early as this month. According to the Ministry of Env..

Smartphones become primary source for mass media in Korea with ratio at 70% Smartphones have become dominant means for mass media in South Korea as streaming becomes a norm to watch contents, survey showed.According to the Korea Communications Commission (KCC) Thursday, 70.3 ..

Some 100 IoT devices found to be malware infected in Korea Some 100 closed circuit TV and digital video systems connected to an IoT network in Korea were found to have been used as hacking tools, raising alarm about potential exploitation and damage amid IoT ..

Volvo Trucks to deploy electric heavy-duty trucks in Korea in H2 Volvo Trucks, the world’s leading heavy-duty truck maker, will introduce electric trucks in Korea from the second half, exclusively designed at smaller width of 2.5m to meet Korean regulations. Accord..

Korea’s leading presidential candidates vow to reintroduce ICOs South Korea’s two leading presidential candidates from the major political parties on Wednesday pledged an end to the country’s ban on initial coin offerings (ICO) and lower taxes on capital gains fro..

Ex-French minister and head of Korelya Capital bets in growth of K-software, IT Paris-based venture firm Korelya Capital has started work to discover promising startups in Europe and Korea after recently completing a setup of multinational investment alliance (K-Fund 2) supported..

Seoul delivers $80 mn fine on freight rate collusion in Southeast Asia sea route South Korea`s antitrust regulator on Tuesday announced it has decided to impose a combined fine of 96.2 billion won ($80 million) on 23 Korean and foreign shippers for their past price rigging in the ..

Seoul revises rule to ease budgetary losses over lawsuits with pharma firms Korean health authorities will soon apply a new drug reimbursement rule to stop healthcare budget leakage by preventing excessive injunction filings by pharmaceutical companies against the government ..

Tesla and Volvo keep up sales growth in Korea whereas other imports flounder Tesla and Volvo are making fast inroads in the South Korea due to their appeal in EV identity and reliability amid stagnated performance by other import car brands like Volkswagen, Ford, Jaguar, and L..

Louis Vuitton mulls shuttering downtown duty-free shops in S. Korea French luxury brand Louis Vuitton is considering further reducing its presence in downtown travel retail industry in South Korea to focus on airport and department stores to enhance its premium image,..

Korean fintech, crypto players face first audit by financial authority Korean fintech players and cryptocurrency exchanges come under their first audit by the country’s top financial authority which would mostly examine traces of money laundering. The Financial Services..

S. Korea signs $3.5 bn deal to export M-SAM II missiles to UAE South Korea signed a $3.5 billion deal to export self-developed medium-range surface-to-air guided weapon system to the United Arab Emirates (UAE), timed with President Moon Jae-in’s two-day visit to ..

Demographic challenges common threat to business in Korea, China, and Japan South Korean companies find excessive regulations as the biggest obstacle to business and economic growth, while their peers in Japan are worried about stagnated economy and in China aging population,..

Koreans aged 32 or younger may not get any state pensions from 2055 Those aged 32 or younger in South Korea may not be able to receive any monthly pension from the state after their retirement as the state-run National Pension Service (NPS)’s assets, which are current..

Police seizes gold and assets of Osstem bookkeeper charged with embezzlement South Korean police has recovered all 855 gold bars the bookkeeper of Osstem Implant Co. had bought with the money he had stolen from the company that had brought about shameful stock suspension and p..

Seoul to revise green taxonomy to include small module reactors South Korean government is considering classifying small module reactors (SMRs) as eco-friendly eligible for state funding, reversing from its stance to drop nuclear projects in taxonomy in line with ..

S. Korean public enterprises mandated to seat labor member on board From as early as July, Korean public enterprises such as Korea Electric Power Corporation and National Pension Service will have to seat a labor representative on their managing board under a revised ..

Apple to accept outside payment in app store in compliance with Korean law Apple Inc. is accepting outside payment means in Korea on its app store for the first time globally in compliance with a new law in Korea. Apple on Friday last week outlined its plan to allow the us..

Japan-made car sales recover in Korea on popular hybrid models, fast delivery Sales of Japanese cars in South Korea rose 13.4 percent on year last year, suggesting easing in the boycott against Made-in-Japan after Tokyo’s export curb on IT components amid conflict over wartime ..

FTC dismisses investigation filed by local cosmetics importer vs L’Oréal South Korea’s antitrust agency is under fire for neglecting a local importer pleading for help from unilateral supply cut for 18 months by multinational cosmetics company L’Oréal. The Maeil Busi..

Govt` to slash VAT from 10% to 8% in 2022 HÀ NỘI — Following the passing of a VNĐ350 trillion (approximately US$15 billion) economic recovery package, the Government is considering the implementation of a cut to VAT. As ..

Test & Go for overseas arrivals to be restored, fine-tuned The Test & Go programme will be reintroduced soon while entry rules under the scheme will be tweaked to allow close monitoring of overseas arrivals` health, said Gen Supoj Malaniyom, head of operation..

More capital flows come to economic, industrial parks in 2021 HÀ NỘI — Economic and industrial parks nationwide drew 539 foreign-invested and 615 domestic projects with a total registered capital of US$12.8 billion last year despite the COVID-19..

Domestic travelers ‘not enough’ to revive Bali tourism Bali’s tourist sector has been relying on domestic travelers since the government closed the borders at the onset of the COVID-19 pandemic, but this approach has not been enough to support the industr..

Luxury brands see great potential in Việt Nam HÀ NỘI— Việt Nam pales in comparison with Japan and China in regard to the size of the luxury market, but it has a great potential to become a highly profitable market in the ne..

Renewables investment, energy mix misses 2021 targets Indonesia missed multiple renewable energy development targets set for 2021 with the government blaming the shortfalls on the prolonged COVID-19 pandemic and unrealistic targets. Renewables comprised ..

Demographic doomsday Having endured the pandemic for the last two years, Thailand`s workforce gradually changed over that period as many unemployed people started to run their own business or work as freelancers. More th..

Vietnamese airlines increase frequency of flights to and from Asian destinations HÀ NỘI — The Civil Aviation Authority of Việt Nam (CAAV) has decided to increase the frequency of international flights to Japan, Korea, Taipei (China) and Singapore. In its an..

National Assembly passes $15b economic recovery package for 2022-23 HÀ NỘI — On the final working day of an extraordinary session, the National Assembly of Việt Nam on Tuesday voted to adopt a Government-proposed socio-economic recovery programm..

Jokowi wants to speed up bauxite export ban President Joko “Jokowi” Widodo said on Monday that the government would ban bauxite exports starting this year to spur commodity downstreaming to industrialize the economy. The export ban was initiall..

Domestic insurance market expects double digit growth in 2022 HÀ NỘI — The country’s total insurance premium revenue in 2022 is estimated at VNĐ253.7 trillion (US$111.1 million), up 18.04 per cent compared to 2021, according to the Departme..

Philippines urges Indonesia to lift coal export ban as talks proceed The Philippines has become the third Asian country to publicly urge Indonesia to lift its coal export ban, adding more external pressure on the Indonesian government, which is also facing pressure at ..

PLN’s coal shortage over, ministers say Two ministers have said that state-owned electricity company PLN had secured enough coal to meet its power generation needs, addressing the underlying issue behind Indonesia’s coal export ban that has..

Can Thaksin secure a pardon? During an online chat hosted by the Care group on social app Clubhouse last week, the 72-year-old once again discussed ending his self-imposed expulsion and returning to his homeland as "a gift for Th..

Viet Nam News Economy Still plenty of potential for tech companies to tap HÀ NỘI — Although Việt Nam is placing great emphasis on the technology sector, the growth of technology stocks on the stock market is still modest compared to their potential. ..

Coal trade in disarray as export ban review delaye Indonesian authorities postponed a meeting with coal mining companies on Wednesday, leading to disarray on markets as coal miners consider declaring force majeure over an export ban that has left scor..

Fintech, e-commerce firms expected to become next unicorns Indonesia saw five new unicorn companies in 2021, the most the country has ever seen in a single year, and experts project the country will see another record-breaking number of unicorns in 2022, like..

Việt Nam’s growth rates of 6.3% in 2022 and 6.8% in 2023 `feasible`: UNDP Senior Economist HÀ NỘI — Việt Nam’s growth rate targets of 6.3 per cent in 2022 and 6.8 per cent in 2023 are feasible, but greatly rely on how the pandemic develops over the next two years. Un..

Jokowi digs in heels on coal export ban After announcing the January thermal coal export ban in a move apparently aimed at safeguarding domestic power supply, the government is standing its ground while markets are feeling the pinch. Econom..

First regular commercial international flights after nearly two years arrive in Việt Nam HÀ NỘI — The first regular commercial international flight operated by Vietnam Airlines in nearly two years since the outbreak of the COVID-19 pandemic landed safely at Tân S)..

Korean game developers fast moving as not to lag behind metaverse economy While multinationals Microsoft and Facebook steal international spotlight with their big migration to the metaverse, South Korean game names have been busily building up their economies of scale on th..

Kakao Entertainment holds web fiction contest, govt ups digital contents subsidy South Korean government and entertainment companies are bolstering Korean contents to capitalize on global attention and demand from award-winning and chart-topping streaks.Kakao Entertainment, alread..

LG Elec’s virtual Influencer Reah is debuting as a singer Reah Keem, a virtual influencer commanding 14,000 Instagram followers since creation by LG Electronics Inc. last year as a singer-songwriter, is debuting by signing a contract with an established agen..

K-grandad O makes history for Korean artists with Golden Globe win for Squid Game It is the Korean granddad’s turn to steal the Hollywood spotlight this year after hippy grandma Youn Yuh-jung enthralled global audience with her Oscar-winning role in “Minari” last year, with 77-year..

Korean contents hotly chased by global streamers in search of next Squid Game Korean contents are hotly chased by global streamers as they continue to charm global audience following the mega-hit “Squid Game.”The Wall Street Journal highlighted how Korea has become “a content b..

Season 2 is not the end, says Squid Game director The Netflix megahit Squid Game may be extended to the third season, according to the Korean dystopian series’ writer and director Hwang Dong-hyuk.Hwang in an interview with KBS on Tuesday said he was ..

JYP and SM Enter shares gain on enlivened female acts South Korea’s top K-pop labels JYP Entertainment and SM Entertainment have been livened up by female artists’ vigorous activities. JYP Entertainment said Monday that its K-pop super girl group Twice ..

Sponsors and investors dump K-drama Snowdrop over history distortion controversy The fate of a new Korean drama “Snowdrop” featuring idol star of K-pop girl group BlackPink and popular actor Jung Hae-in has become murky after its risky mix of South Korea’s democracy legacy with No..

Kakao Enter buys web novel platform Wuxiaworld to take on Naver in North America Kakao Entertainment Corp., the content business subsidiary of South Korea’s Kakao Corp., took over Wuxiaworld, the U.S.-based Asian fantasy novel platform, to expand its presence in the North American..

Squid Game bags 3 nominations at Golden Globes “Squid Game,” South Korea’s survival contest thriller and most watched show on Netflix, has earned 3 nominations at the 79th annual Golden Globe Awards. The U.S. Hollywood Foreign Press Association (H..

Korea entertainment biz turns bolder on global scene amid rise of Korean contents South Korean entertainment contents producers have become bolder in global foray as they find themselves on equal footing on the international stage due to global raving over Korean original contents...

BTS earns $33.3 mn in ticket sale for four-day concerts at SoFi Stadium in LA South Korean K-pop superstar BTS has reaped $33.3 million in sale of 214,000 tickets for its first offline stage concerts at SoFi Stadium in Los Angeles, United States since the outbreak of the Covid-..

BTS tops 9 year-end charts of Billboard, Hybe impresario Bang named as Bloomberg 50 K-pop super group BTS has swept nine top ranks at the year-end charts of U.S. Billboard, while their impresario joined an exclusive list of 50 most influential figures by a U.S. media. Billboard anno..

K-pop exports to hit record high this year as fandom spreads beyond Asia Korean pop music exports are expected to hit a record high of $200 million this year thanks to K-pop fandom beyond Asia partly driven by booming unconventional media channels like YouTube. According..

Seoul may be the next stage BTS performs live after LA Seoul may be the next live stage BTS may go on after the entirely sold-out show in Los Angeles, according to the K-pop sensation. Although the K-pop super-group did not specify plans after the L.A. ..

LA brims with BTS fans for concert in 2 years, but shares plunge at home on military risk The City of Angels turned purple as enthusiastic fans across the globe swarmed SoFi Stadium in Los Angeles for the first real concert by K-pop superstar BTS in more than two years. Tickets for the “B..

BTS scores only one nod from Grammy, missing out on major categories K-pop sensation BTS is aiming for a Grammy for the second time this year in the best pop field, although failing to score a nomination in the big four categories despite a wildly successful year with ..

K-drama Hellbound tops Netflix’ global ranking in just a day after release Netflix original show Hellbound produced by a Korean team debuted at No.1 thanks to the global viewers’ high expectations for Korean original TV shows after the global sensation Squid Game, the stream..

WeMade CEO calls for access to P2E game in Korea to keep abreast of global trend Play-to-earn (P2E) should be permitted in South Korea through regulatory sandbox or exemption so that Korean publishers do not fall behind in global competition amid rapid employment of the business m..

Pinkfong Baby Shark collection to premier in NFT form in December “Baby Shark”, which has become an all-time favorite children’s song and dance, will become collectible in digital art form of non-fungible token (NFT) next month, according to its South Korean creator..