Naver posts $1.05 billion in operating profit in 2022 South Korean internet portal giant Naver Corp. said Friday its operating profit growth slowed in 2022 from a year ago due to a one-off factor from business integration despite brisk sales in the conte..

LG Energy Solution inks 19GWh battery module deal in U.S. South Korea’s LG Energy Solution Ltd. has signed a large-scale battery module deal with Michigan-based Freudenberg e-Power Systems (FEPS) to target a fast-growing electric commercial vehicle market.Un..

Hyundai Doosan Infracore wins order for Turkish tank components Hyundai Doosan Infracore Co. signed a deal to sell its 1,500-horsepower engines for battle tanks manufactured by Turkey’s BMC Otomotiv Sanayi ve Ticaret A.S., according to the Korean company on Thursd..

Woori Financial Group likely to drop administrative suit against FSC sanctions South Korea’s Woori Financial Group is highly likely to drop its plan to raise an administrative action against the sanctions imposed by the Financial Services Commission (FSC) in November for the inc..

Samsung chief Jay Y. Lee focuses on talent, network for breakthrough Jay Y. Lee, executive chairman of Samsung Electronics Co., has been devoted to nurturing talents and expanding global network over the 100 days in leadership as the tech giant strives for innovative t..

Samsung Elec unveils Galaxy S23 with 200-megapixel camera, sustainable design Samsung Electronics Co. on Thursday unveiled its latest Galaxy S smartphones, which come with improved camera performance and environmentally-friendly features.Samsung Electronics’ flagship Galaxy S s..

President Yoon vows full support for semiconductor companies President Yoon Suk-yeol Wednesday emphasized that the government will spare no effort to support semiconductor companies that make bold investments, repeating his earlier pledge of improving the busin..

Samsung Elec simplifies job titles of executives for horizontal work culture Manager-level employees and executives at Samsung Electronics Co. are now being called by their English names or initials as the company has banned the use of work titles also in the higher ranks from..

Mercedes-Benz to strengthen EV lineup in Korea Mercedes-Benz Korea plans to raise the share of electric vehicles from its entire sales in South Korea to 15 percent this year based on an enhanced lineup to meet growing demand.“The basic goal of the..

POSCO International to expand LNG terminal capacity POSCO International Corp., the trading arm of South Korea’s steel giant POSCO Holdings Co., is expanding storage capacity at its liquefied natural gas (LNG) terminal as part of its efforts to support ..

Hyundai Mobis wins largest overseas orders of $4.65 billion in 2022 Hyundai Mobis Co. received new orders worth $4.65 billion in total from overseas carmakers last year, a two-fold increase from the previous year and the best performance in overseas business for mains..

Daewoo E&C reports record OP in 2022 on strong construction orders Daewoo Engineering & Construction Co. (Daewoo E&C) on Tuesday reported its largest-ever operating profit for 2022 on the back of robust orders for housing and plant construction at home and abroad.Dae..

SK hynix posts first quarterly loss in 10 years on weak chip demand South Korea’s SK hynix Inc. posted its first loss in almost 10 years in the fourth quarter last year due to a sharp drop in memory chip prices as demand slowed in the smartphone and electronics market..

LG Chem to increase cathode material production by 50% in 2023 South Korea’s LG Chem Ltd., the parent of world’s No. 2 battery manufacturer LG Energy Solution Ltd. (LGES), plans to up cathode materials production by 50 percent this year from last year as it hopes..

Hyundai, Kia’s cumulative car sales to hit 150 million units in first half Cumulative sales of Hyundai Motor Co. and Kia Corp. vehicles are expected reach 150 million units in in the first half of this year, a new feat achieved 61 years after they started selling cars in 1..

K-bakeries racing to lure U.S. customers Two of Korea’s leading bakeries are fiercely competing for market leadership in the U.S.Paris Baguette, Korea’s largest bakery franchise run by SPC Group, has aggressively expanded its stores to reach..

Korea to ease recruiting cap for 4 public science, engineering schools The Korean government has decided to lift the designation of four state-invested science and engineering schools as public institutions, granting them discretion in faculty recruitment and budgeting. ..

Samsung Elec’s Q4 earnings shock investors as memory chip profit plunges Samsung Electronics Co. reported a 69 percent decline in operating profit in the fourth quarter last year as the memory chip business remained sluggish on slowing global economy.The South Korean elect..

POSCO Chem signs $33 bn cathode materials supply deal with Samsung SDI POSCO Chemical Co. under South Korean steel giant POSCO will supply 40 trillion won ($32.5 billion) worth of cathode materials for electric vehicle batteries to battery maker Samsung SDI Co. for 10 ye..

Services at Korean airlines not yet at pre-Covid levels despite surge in traffic Demand for air travel in South Korea has picked up as countries ease Covid-19-related restrictions but services at Korean airlines have not yet returned to pre-pandemic levels.According to data from t..

Korean big techs in double bind on manpower amid economic downturn Korean big tech companies such as Naver Corp. and Kakao Corp. are struggling with workforce management as U.S. tech giants are making massive job cuts in response to the global economic downturn.Unlik..

Korean game makers eye overseas markets in blockchain push Korean video game makers are looking at markets overseas as domestic regulators are putting the brake on games that use blockchain technologies.Following recent court decisions banning play-to-earn (P..

South Korean startups begin layoffs amid market chill South Korean startups, both big and small, have launched intensive restructuring that includes mass layoffs as they fear a cash crunch amid an investment slump.According to multiple sources from the i..

LG Group to boost image captioning technology LG Group is poised to engage deeper in artificial intelligence (AI) technology, namely image captioning that describes the content of an image in words, as it sees the area growing in the image search..

Naver in final stages to release film adaptation of Wattpad’s “Boot Camp” South Korea’s platform giant Naver Corp. has completed the production of a film based on the intellectual property (IP) of a Wattpad story “Boot Camp” and is readying global release.Maeil Business New..

South Korean startup Asleep in talks with Google, L’Oreal for partnership: CEO Asleep, a South Korean sleep tracking software startup, is in talks with big tech companies like Google LLC and cosmetics giant L’Oreal Group for partnership in the field of applying its artificial in..

Samsung Bioepis, Celltrion speed up launch of Humira biosim this year A total of 10 Humira (adalimumab) biosimilars are scheduled to be released in the U.S. this year alone as U.S. and Korean manufacturers are speeding up their commercial development after AbbVie Inc., ..

SK bioscience opts to contribute to global health security Ahn Jae-yong, chief executive officer of SK bioscience Co., on Wednesday proposed global cooperation on the development and production of vaccines in a biotechnology event in Riyadh, Saudi Arabia, the..

South Korean biopharmaceutical, healthcare firms under pressure to repay bonds South Korean biopharmaceutical and healthcare companies are under growing pressure to repay convertible bonds as investors exercise their put options to redeem the notes amid a fall in stock prices.Ac..

Samsung Biologics undergoes organization change ahead of 4th plant operation Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, has launched a major reshuffle of its organization ahead of the full operations of its fourth plant in Songdo, Incheon.According ..

U.S. startup successfully tests ammonia-based fuel cell on 15-ton truck Amogy Inc., a U.S. ammonia-based emission-free power solution developer backed by South Korea’s SK innovation Co., has successfully carried out a test-drive of a 15-ton semi-truck running on its ammon..

Slow ageing to become new beauty trend in Korea Anti-ageing skincare products are becoming highly popular among not only middle-aged women in South Korea but those in their 30s as they wish to delay the ageing process from early years.According to ..

President Yoon to oversee exports of Korean creative industry products The export strategy meeting chaired by South Korean President Yoon Suk-yeol is expected to discuss strategies for the service industry including K-contents as the country beefs up efforts to accelerat..

Naver Webtoon to widen U.S. presence to become the next Disney Naver Webtoon Ltd. plans to widen its presence in the U.S. this year to become the next Walt Disney Co. as the Korean company had the highest number of monthly active users in the second quarter of la..

Dongkoo Bio to focus on expanding overseas this year South Korea’s Dongkoo Bio&Pharma Co. will go all out to increase its overseas sales this year by securing a production base in Association of Southeast Asian Nations (ASEAN) or Commonwealth of Indepen..

Medytox to build Korea’s first finished botox product plant in Dubai Medytox Inc. will build a plant for finished botulinum toxin products in Dubai, making it the first for a Korean biopharmaceutical company.Medytox on Tuesday said it signed a memorandum of understandi..

Foreign pharmas in Korea cut field workers amid digital shift Multinational pharmaceutical companies operating in Korea are cutting down on payrolls mostly in front-line field jobs partly because of a response to market dynamics and digital transformation.Accord..

Korean authorities need more time for regulatory review of new drugs The average period for regulatory review to approve novel drugs from multinational pharmaceutical companies in Korea was 314 days in the last 10 years until 2020, which is two weeks longer than the av..

Pure-Lex teams up with U.S. Nvidia for AI-powered anti-snoring pillows Pure-Lex, a South Korean startup engaged in healthcare business, has joined hands with U.S. tech company Nvidia Corp. to launch an artificial intelligence (AI)-based pillow that helps reduce snoring a..

Poshmark aims to turn profitable next year on back of Naver’s technology Manish Chandra, chief executive officer of Poshmark Inc., said that the company’s link with Naver Corp. will create new opportunities and make it competitive in the cutthroat secondhand market to beco..

Kbank puts off IPO for now due to market slump South Korea’s app-based lender Kbank has decided to scrap the plan of going public on the Kospi market this year as it expects it will be difficult to receive the right valuation during a market slump..

S. Korean shipbuilding stocks gain ground on positive earnings outlook for 2023 South Korean shipbuilding stocks are on a rise as shipbuilding majors clinch high value-added vessel orders this year and are back on track for recovery. Shares of Korea Shipbuilding & Offshore En..

Investors turn away from IPO funds amid subdued market Investors are shunning initial public offering (IPO) funds in South Korea as they deliver a low return of 2 percent versus other equity funds of near 10 percent despite the strong stock markets in 202..

Credit card firms’ bond sales attracting investors on debt market rally South Korean credit card companies are cutting their borrowing costs as the bond market is attracting investors this year.According to sources on Tuesday, the average interest rate on three-year credi..

Hyundai Glovis to raise dividend payout by up to 50% over next 3 years Hyundai Glovis Co., the logistics unit under South Korea’s Hyundai Motor Group, announced plans on Tuesday to offer up to 50 percent more dividend payouts to shareholders over the next three years as ..

Key Korean firms see rebound in stocks in January despite earnings shock Stocks of major Korean companies have gained this year, even after their disappointing earnings for the fourth quarter, on optimism that the U.S. Federal Reserve could ease its tightening campaign.The..

Musinsa seeks investments to expand into global markets Musinsa Co., a leading Korean fashion platform, is seeking investment of up to hundreds of billion won to expand its reach this year into overseas markets, including the U.S. and Japan.A total of abou..

South Korea’s corporate bond market on recovery amid improved investor sentiment South Korea’s corporate bond market is expected to gain momentum in February after debt issuance in January hit an all-time high in 7 years as Korean Inc. readies to raise funds through public offerin..

OCIO funds gain traction among retail investors Demand for funds managed by outsourced investment managers are on a rise as investors prefer less risky, high profit funds through portfolio diversification.According to financial market tracker FnGui..

EV battery stocks rebound on improved sentiment in S. Korea South Korea’s electric vehicle battery-related stocks, which had stagnated this year, gained momentum on Thursday thanks to growing optimism after Tesla Inc.’s surprising earnings report.LG Energy Sol..

Investors prefer putting money in Korean bonds Investors are tending to prefer bonds the most in the first month of the year among public offering funds with 1 billion won ($810,000) or more in assets under management, according to data from local..

Korean REIT stocks draw attention with 7% gain this year Real estate investment trust (REIT) stocks are attracting investors amid growing awareness that interest rate hikes are nearing their peak. In addition, these stocks looks better than those on the bro..

Oasis aims to become No. 1 dawn delivery service provider after Kosdaq debut Oasis Corp., operator of South Korea’s dawn delivery platform Oasis Market, has set the goal of becoming a top player in the domestic fresh food market through its Kosdaq debut in February. “Dawn deli..

Sale of 30% stake in AirFirst heats up A race to buy a minority stake in AirFirst Co., an industrial gas business company, from South Korea’s leading private equity firm IMM Private Equity has drawn interest from many investors including f..

South Korean PE firms set to pool record $14 bn in blind funds this year South Korean private equity firms are expected to raise a record 17 trillion won ($13.8 billion) in blind funds this year, which will be used to spur investment in the merger and acquisition (M&A) mar..

Align Partners puts pressure on financial holding firms for more dividends Align Partners Capital Management, a South Korean activist fund, called for dividends of at least 50 percent of net profit from seven listed financial holding companies, according to a shareholder pro..

Korean investors’ interest in high-dividend ETFs grows Dividend-focused exchange-traded funds (ETFs) have continued a streak of fast growth since the beginning of this year as investors show growing interest in dividend stocks with lower volatility in the..

Foreign investors net buyers of 5 trillion won worth of Korean shares Foreign investor net purchases of Korean stocks have reached more than 5 trillion won ($4.1 billion) this year on expectations that monetary tightening could be eased soon.The latest buying spree is i..

Securities firms seek real estate project financing despite weak market Large securities firms are looking at real estate financing as lower investment thresholds for some development projects could provide good investment opportunities despite concerns of a weak property..

MBK, Unison Capital offer to buy 25 percent of Osstem Implant Osstem Implant Co. shares jumped nearly 15 percent on Monday after Unison Capital Korea and MBK Partners announced a tender offer to buy Korea’s No. 1 dental implant maker, which is under pressure fro..

Korea’s foreign reserves up $6.8 billion, rising for a third month Korea’s foreign reserves in January reached $429.9 billion, a $6.8 billion increase from a month ago, according to the Bank of Korea on Friday. The increase is understood to be attributed to the recen..

Lawmakers put pressure on companies with dispersed ownership structures Lawmakers are putting pressure on companies that have a “dispersed” ownership structure, particularly financial companies and some former state-owned companies, providing support to the government’s m..

Korean government goes all-out to support ailing manufacturing sector The South Korean government has rolled its sleeves to help breathe life into the country’s manufacturing sector that has been falling behind in exports and investments.In a meeting on Friday, the Mini..

KERI cuts growth forecast to 1.5% for Korea in 2023 The Korea Economic Research Institute (KERI) on Friday revised down its growth forecast for South Korea to 1.5 percent in 2023 from 1.9 percent, citing slow domestic demand due to high interest rates ..

Korea to scrap tax benefits for companies with seniority-based pay system South Korean companies that pay their employees seniority-based salaries are expected to be drawn back from tax incentives under a labor reform plan being pushed by the Yoon Suk-yeol government.Maeil ..

Korean CPI up 5.2% on rising electricity and gas bills Prices rose more than 5 percent, the biggest month-on-month increase in three months, in January as electricity, gas and water prices soared due to public utility rate hikes despite slowing oil price ..

Fed’s overnight rate hike eases financial market concerns, Choo says South Korea’s Finance Minister Choo Kyung-ho Thursday said that concerns in the international financial market are easing as the U.S. Federal Reserves slowed its pace of rate hikes overnight with a qu..

Korea to foster talent in science and technology for future growth President Yoon Suk-yeol highlighted the importance of talent and human resources, especially in the area of science and technology, during the first government meeting aimed at fostering national huma..

South Korea reports worst-ever trade deficit in Jan. due to weak chip exports South Korea suffered the worst monthly trade deficit of $12.7 billion in January on weak demand for semiconductors, the country’s key export item, and high energy prices, data showed Wednesday.Outboun..

Economists warn of social conflict in Korea due to low growth, rising debt South Korea could face a potential social conflict amid stagnant economic growth of under 1 percent and mounting debt that put an economic burden on the younger generation, local economists warned Wed..

Seoul to expand heating bill support for low-income households The Korean government will expand discounts on heating and energy bills, offering up to 592,000 won ($480) for low-income households during the winter months, to help ease cost burden from a surge in ..

Corporate cars to have new license plates from as early as July South Korea will introduce light green license plates for vehicles that companies use for official purposes to prevent private use of these cars to take advantage of corporate tax benefits and cost re..

Korea reviews heavier punishment on companies with ‘dispersed’ ownership The South Korean government is mulling imposing various sanctions against fatal incidents caused by companies with dispersed ownership to prevent their lack of internal control and moral hazard from a..

Yoon calls for joint efforts to speed up UAE’s $30 billion investment South Korean President Yoon Suk-yeol on Tuesday vowed to speed up efforts to execute the $30 billion investment by the United Arab Emirates (UAE) and called for the government and businesses to work a..

IMF cuts South Korea’s 2023 economic growth estimate to 1.7% from 2% The International Monetary Fund on Tuesday revised down its 2023 economic growth outlook for South Korea to 1.7 percent amid global uncertainties from interest rate hikes in major economies and the on..

S. Korean government seeks to reform inheritance and gift tax system South Korea will reform the inheritance and gift taxation framework to reflect aging trends and asset growth, as it has been somewhat outdated without any changes for 23 years.There is also growing pu..

Generation Z strongly against proposed reforms in national pension scheme Generation Z, those that were born in the mid-1990s and early 2000s, is strongly opposed to the proposed reform of the national pension scheme, which is attempting to shift to a “pay more, get less” f..

Movement of Korea’s population at slowest pace in 43 years in 2022 Migration of South Koreans in the country was at the slowest pace in 43 years in 2022 due to a steep drop in housing transactions and a rapid aging population, government data showed Monday.The number..

Korea marks triple gain in output, consumption, capex for 2nd year in 2022 South Korea’s factory output continued to gain for a second year in 2022 despite slow industrial activity in December with recoveries also seen across consumption and corporate investment.According to..

National pension fund projected to dry up by 2055 South Korea’s national pension fund will run a deficit from the year 2041 and completely run dry by 2055, two years earlier than earlier estimate, according to the government’s new projection.An exper..

S-Oil posts record earnings in 2022 on improved refining margins South Korea-based petroleum and refinery company S-Oil Corp. on Wednesday posted record earnings last year on the back of high oil prices and improved refining margin.S-Oil announced in a regulatory f..

South Korea unveils plan to combine childcare centers, kindergartens from 2025 Children under 5 years old in South Korea will get enrolled in a new type of institution from 2025 that combines the services of a nursery and kindergarten.Under a roadmap unveiled by the Ministry of ..

New alliance structures to pose challenges, opportunities to Korea’s HMM The global shipping landscape is expected to be reshaped after the Swiss-based Mediterranean Shipping Company (MSC) and Denmark’s A.P. Moller-Maersk A/S announced recently to split their alliance in 2..

Indoor mask mandate eased but restrictions in some places still remain Starting Monday, wearing face masks is no longer obligatory across most public spaces in Korea, said the government on Sunday. An indoor mask mandate will remain, however, for public transportation, h..

Chinese hacking group attacks 12 South Korean academic institutions: KISA A Chinese hacking group on Sunday attacked the websites of 12 South Korean academic institutions, the Korea Internet & Security Agency (KISA) said Wednesday.The 12 institutions include Korean Language..

Seoul police raid labor organization offices over alleged illegal activities South Korean police on Thursday raided the offices of construction unions affiliated with the country’s two biggest labor groups for alleged involvement in illegal activities at construction sites.Seo..

Elderly Koreans sharing homes with college students grow as rent surges Home-sharing program linking senior citizens with homes and college students looking for affordable living space is under the renewed spotlight in Korea amid rising rents and the widening generation g..

Korean women tying knot in 30s outnumber 20s for first time in 2021 The number of South Korean women getting married in their 30s has surpassed those in their 20s for the first time in 2021 as tying the knot at a later age has become a new norm, data showed Tuesday.Ac..

S. Korean cruise travel to resume after Covid led to temporary suspensions Cruise lines are expected to resume calling at Incheon after operations were halted for more than three years as easing Covid measures have led to the reopening of borders.“Europa 2, a 43,000-ton vess..

S. Korean President Yoon’s approval rating rises for 2nd wk: Poll South Korean President Yoon Suk-yeol’s approval rating has risen for the second week in a row since it recovered above 40 percent for the first time in 24 weeks in the third week of December, a poll s..

S. Korea may go mask-free indoors in phases from mid-January South Korea may go mask-free in public indoor spaces, except for hospitals and such places vulnerable to Covid-19 infections, before the Lunar New Year holidays in mid-January under the country’s plan..

Korea to give $540 a month in cash to infant-raising parents The South Korean government will pay each household with an infant 700,000 won ($540) a month starting next year as part of efforts to boost the country‘s low fertility rate, which is the world’s lowe..

Yoon gov’t seeks to ease business burdens from SAPA The South Korean government under President Yoon Suk-yeol will seek to come up with measures to reduce the burden on businesses caused by the Serious Accidents Punishment Act (SAPA) that holds busines..

Seoul to ease university building regulations for more R&D space The city of Seoul will ease regulations on university campuses to allow their building to go taller and bigger for more spaces for experiment, research, and business creation especially in the field o..

Pediatrician shortage in Korea stops childcare service at major hospital A shortage of pediatricians in South Korea has put a stop to hospitalization care for children at one of major general hospitals in Incheon, the country’s third biggest city and transportation hub wit..

South Korean companies could see many opportunities in Southeast Asia Scot Marciel, a senior advisor for BowerGroupAsia, a strategic advisory firm specializing in the Indo-Pacific, visited Seoul to present a keynote speech at the 10th ASEAN Connective Forum held on Thur..

Korea mulls lifting indoor mask mandate in late January South Korea is seeking to come up with guidelines to lift the nationwide indoor mask-wearing mandate by late this month to enable people to go completely mask-free by the end of January. Korean Prime ..

S. Korean Defense Ministry eases rules on drone photography Drone users in South Korea can now take aerial shots more easily by registering with the Ministry of National Defense as the government eased the permit system.The defense ministry said on Tuesday tha..

S. Korea, Vietnam to bolster ties in supply chain and defense industry South Korea’s President Yoon Suk-yeol and his Vietnamese counterpart Nguyen Xuan Phuc agreed to strengthen bilateral ties with a goal of expanding trade between the two countries to $100 billion by 20..

Young rich Koreans have more real estate assets than financial assets Rich South Koreans in their 30s and 40s have more real estate assets in their asset portfolios than older rich Koreans in their 50s and plan to expand financial assets mostly from stock investment, ac..

Indonesia trimming palm oil stocks with discounts, India sales Indonesian palm oil producers are whittling down their hefty inventory overhang with discounts versus rivals and aggressive sales to India, where demand is picking up for next month`s Diwali festival,..

Jeju Air to open direct Manado-South Korea flight in tourism bid South Korea’s Jeju Air has inked a deal with the North Sulawesi administration to offer direct flights between Manado and South Korea. Jeju Air CEO Kim E-bae and North Sulawesi Governor Olly Dondokamb..

Saigon Hi-tech Park attracts $12b worth of investment over 2 decades HCM CITY — The Saigon Hi-tech Park (SHTP) in HCM City has attracted more than US$12 billion in domestic and foreign investment since its establishment 20 years ago. Speaking at a meeting last w..

India’s rice export ban paralyzes trade in Asia as prices rise India`s restrictions on rice exports have paralyzed trading in Asia, with buyers scouring for alternative supplies from Vietnam, Thailand and Myanmar where seller is holding off on deals as prices ris..

Domestic instant noodle consumption growing 20 per cent annually HÀ NỘI — Việt Nam passed South Korea to lead the consumption per capita of instant noodles in the world in 2021, according to the World Instant Noodles Association (WINA). The ..

Coal far from ‘dead’: prices to remain high, IPO still lucrative The coal-mining sector will likely still be one of Indonesia’s key-growth drivers in years to come, despite the country’s steady shift to renewable energy, as the “black gold” commodity prices are poi..

QR payments help small vendors HÀ NỘI — Despite having no small cash in his pocket, Hoàng Dương can still pay for his cup of tea to a vendor in Quán Thánh street, Hà Nội, by scan..

Jokowi : RI must boost downstream investment, take over global green market Indonesia will pursue greater production in downstream industries and take over the world market in green products, President Joko “Jokowi” Widodo said on Tuesday. Jokowi noted that Indonesia’s commit..

NTU Singapore, RGE Group launch joint research centre to tackle textile waste As the latest trends crop up by the minute, textile waste is becoming a major issue when old and unwanted clothes end up in landfills. It comes at a time when an estimated 92 million tons of textile w..

Food prices ease at HCM City supermarkets HCM CITY – The sharp fall in fuel prices has caused the prices of goods such as vegetables and meats to decrease in HCM City supermarkets. Petrol prices have fallen four times since June 21 and..

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..

Korean entertainment firms introduce virtual stars on K-pop scene South Korean entertainment giants are engaged in a new experiment of staging virtual K-pop music artists with the help of artificial intelligence technology. SM Entertainment Co., the agency behind NC..

Naver Webtoon to turn popular webtoon “True Beauty” to mobile game Naver Webtoon Corp., a webtoon platform by South Korea’s internet giant Naver Corp., will launch a mobile game based on its webtoon “True Beauty” in the global market as it seeks to reach out to a bro..

K-pop groups hope for star year after BTS takes hiatus Global eyes are on the South Korean K-pop scene as many newbies and popular stars come on stage this year with hopes to grab the attention of fans around the world that miss superstar BTS take a hiatu..

Korean content second most loved on Netflix in 2022 Korean content has been the second most loved OTT programs on global streaming service Netflix platform this year, proving Korean content’s potential to appeal to the broad audience base across the wo..

Eldest BTS member Jin begins military service Jin of K-pop sensation BTS became the first member of the boy band to start mandatory military service in South Korea on Tuesday, fulfilling his pledge that ended a debate about whether to grant popul..

South Korean unveils plans to attract 30 million visitors by 2027 The South Korean government unveiled measures, including easing travel-related restrictions, in its efforts to attract 30 million tourists by 2027 as borders around the world reopen amid easing in Cov..

Kangta saw 91% return from sale of SM Entertainment shares Kangta, a member of the former boy band H.O.T., earned a return of 91 percent from selling SM Entertainment stocks.The signer sold 2,200 shares worth 179.56 million won ($136,855) for two days on Dec...

Korean webtoon Romance 101 debuts as TV drama in Japan Naver Webtoon’s Romance 101 will be reproduced and aired as a TV drama by Japan’s major broadcaster TV Asahi next year, setting a milestone to become the first Korean webtoon to be exported to an over..

BTS RM selected as one of 35 innovators in art by American art news outlet RM, the leader of K-pop sensation BTS, was selected as one of 35 innovators in art by American art news outlet Artnet.com.Artnet announced the list of 35 innovators who have led the art world, includi..

Korean art galleries head overseas with contemporary artists Global interest in Korean pop culture has spread to the Korean fine art scene, leading South Korea’s major art galleries to rush to open new exhibition spaces overseas to introduce the country’s conte..

NCSoft’s Lineage franchise achieves $10 bn sales milestone 24 years since debut South Korea’s game major NCSoft Corp. has achieved $10 billion sales milestone solely from Lineage franchise first released in 1998.According to game industry sources, cumulative revenue from intellec..

S. Korea’s odds for top 16 up slightly with draw match against Uruguay South Korea’s odds of joining Round of 16 in the World Cup 2022 have slightly increased after the country’s national team held South American power Uruguay to a 0-0 draw on Thursday.South Korea in wor..

Korean game and entertainment firms converging to maximize Kwave riches South Korean entertainment giants Nexon Korea Corp. and Hybe Co. are leveraging on their game and artist riches to broaden their media and audience outreach.Nexon listed in Tokyo has become the larges..

Korean pianist Lee Hyuk shares top prize at Long-Thibaud Int’l Competition South Korean pianist Lee Hyuk won the top prize in the piano category of the Long-Thibaud International Competition held on Sunday (local time) at the Chatelet Theater in Paris, France. Lee co-shares..

Korean business majors join a $67 mn fund to enhance K-contents South Korean majors in hardware, software, and financing including LG Electronics, Kakao Entertainment and Shinhan Financial Group have launched a 91.1 billion won ($66.9 million) worth fund to groom ..

Kimchi event to be held at Capitol Hill A kimchi event to celebrate Kimchi Day will be held at Capitol Hill in Washington D.C. for the first time next month. According to the Museum of Koran American Heritage (MOKAH) on Monday (local time)..

BTS taking turns on military enrollment starting with Jin, Hybe shares uplifted All 7 members of K-pop superstar BTS will take turns on military enrollment in honor of South Korean male citizen duty starting with the eldest Jin who turns 30 in December, their agency said Monday. ..

Netmarble partners with Google Cloud for Web 3.0 game ecosystem South Korean game developer Netmarble has formed a partnership with Google to create its own Web 3.0 game ecosystem, Marblex (MBX), on Google’s cloud, marking the first case that a major Korean game c..

Pivot west campaign by Korean game makers pays off, sales hit $709 mn milestone H1 Game revenue from North America and Europe by six major Korean publishers reached 1 trillion won ($709 million) milestone in the first half as Korean labels turned aggressively to indulge Western game..

Juhea Kim debut novel, a Dayton Prize finalist, inspired by grandfather and Tolstoy Korean American author Juhea Kim’s debut novel “Beasts of a Little Land” which was made a finalist in this year’s Dayton Literary Peace Prize`s fiction category, was inspired by her independent moveme..