Samsung Elec seats outside director as head of board for the first time South Korea’s Samsung Electronics Co. has named outside director and former finance minister Bahk Jae-wan its board chairman, marking the first time for the tech behemoth to sit an independent directo..

LG Hausys looking for buyer of its auto materials biz LG Hausys Ltd., an industrial materials unit of South Korean conglomerate LG Group, is looking for a buyer for its automotive and advanced materials division to focus on core business by divesting the..

Korean oil refiners begin to cut back output as coronavirus outbreak adds to woes South Korea’s oil refiners have begun to cut back production as they face tougher times after losing 20 to 40 percent in income last year, as fueling and petrochemical demand takes toll from the worse..

LG Household & Health Care acquires Physiogel’s Asia, N. America brand rights South Korea’s LG Household & Health Care Ltd. has acquired Physiogel’s business rights in Asia and North America for 125 million pounds ($161 million) from global pharmaceutical company GlaxoSmithKlin..

Hanwha Solutions to pull out of polysilicon biz due to growing losses South Korea’s Hanwha Solutions has decided to close its solar-grade polysilicon business after years of losses, joining the country’s largest solar polysilicon maker and its only local rival OCI that ..

SK Hynix quarantines 800 workers, ensures no disruption in chip operation South Korea’s second biggest chipmaker SK Hynix Inc. has quarantined more than 800 employees upon discovering two novices in training showing symptoms after contact with a new coronavirus (COVID-19) p..

Hotel Lotte likely to speed up IPO as group chair resigns from CEO position Lotte Group Chairman Shin Dong-bin has resigned as chief executive officer of Lotte Hotel Co. in a move projected to be a part of its steps towards initial public offering. Hotel Lotte in a regulator..

Kakao ramps up taxi van service to take on bigger rival Tada Kakao Mobility, a transportation unit of South Korea’s largest messenger operator Kakao, is rapidly scaling up its fledgling taxi van service to take on the van-hailing giant Tada, whose core business..

Samsung Elec’s global TV market share tops 30% first time in 2019 Samsung Electronics Co.’s share in the global TV market topped 30 percent for the first time last year as its global predominance for 14 straight years was cemented by premium quantum-dot based QLED T..

Hanjin heiress union builds ammunition to ready lengthy fight with chairman front A majority shareholder backing Hanjin Group heiress Cho Hyun-ah challenging her brother and current Hanjin KAL chairman Cho Won-tae in his single leadership over South Korean transportation conglomera..

Hyundai Motor to specify future mobility as business goal under younger leadership Hyundai Motor Group is expected to mandate future mobility as its business goal in corporate articles once younger Chung Euisun formally takes over the helm at South Korea’s automaking conglomerate. ..

Korean LCC Eastar Jet to cut work hours, salary amid coronavirus challenge South Korean budget carrier Eastar Jet Co. joined its bigger peers to cut back work hours and salaries as most of its flights are grounded amid self-suspended services to China and elsewhere amid fast..

Korea’s Samsung C&T wins $977 million power plant order in UAE South Korea’s Samsung C&T Corp. bagged a $977 million order to build a power plant in the United Arab Emirates. Under the deal signed with F3 Holding Company B.V., Samsung C&T will build a 2,400-meg..

Asiana Airlines executives offer to resign, employees go on unpaid leave The management at South Korea’s full-service carrier Asiana Airlines Inc. offered to fully resign before enforcing sweeping cost-saving measures as the country’s air business faces its worst year, wit..

Hanjin heiress caught off guard by resignation of her director nominee A coalition led by Hanjin Group heiress Cho Hyun-ah to challenge single leadership by her brother and current chair of Hanjin KAL Cho Won-tae has hit a snag after a candidate to serve as her ally on t..

Samsung Elec to produce Qualcomm’s 5G modem chips on 5-nm process Samsung Electronics Co. will be responsible for producing Qualcomm’s new 5G modem chips on its 5-nanometer (nm) process in a deal that would enhance its position in the foundry segment. The Korean ch..

Samsung Elec strikes partnership with BTS Samsung Electronics Co. has struck an official partnership with the K-pop phenomenon BTS to leverage the group’s massive global appeal in promoting its Galaxy smartphones and other mobile gears. The..

Galaxy Z Flip’s initial batch sold out globally Samsung Electronics Co.’s Galaxy Z Flip has proved again that foldable phones could create new smartphone demand with its initial shipments out of stock on its first day in several markets including t..

Korean budget carriers in cost-saving mode as losses to deepen in Q1 South Korean budget carriers are taking cost-saving measures to brace for a hit from the coronavirus outbreak in the first quarter, with operations already crippled by a loss of travelers to Japan and..

NCSoft to return to Los Angeles game expo E3 2020, Pearl Abyss also to attend South Korean game publisher NCSoft Corp. will show up at the Electronic Entertainment Expo 2020 (E3 2020) running on Jun. 9-11 in Los Angeles, the United States, to penetrate deeper in North American ..

KT launches industry-academy alliance to boost AI competitiveness KT has launched an industry-academy alliance to nurture talent and develop new business opportunities in the areas of artificial intelligence, joining a growing trend of the private sector building a ..

Hyundai-Kia release world’s first automatic gearshift that moves on real-time data South Korea’s largest automakers Hyundai Motor Co. and Kia Motors Corp. said Thursday they have developed the world’s first self-controlling gearshift that reads incoming data and automatically shifts..

Brazil added to Daewoong Pharm’s market list for botox product sale South Korea’s Daewoong Pharmaceutical said on Thursday it has received marketing approval of Nabota in Brazil, selling the neurotoxin product across the country for the indication of improving glabell..

Panagene’s multiple diagnostic kits approved in Kazakhstan Panagene, a Korean molecular diagnostic (MDx) assay developer, has received marketing approval of seven MDx tools as medical devices in Kazakhstan, a member of the Commonwealth of Independent States (..

NCSoft to return to Los Angeles game expo E3 2020, Pearl Abyss also to attend South Korean game publisher NCSoft Corp. will show up at the Electronic Entertainment Expo 2020 (E3 2020) running on Jun. 9-11 in Los Angeles, the United States, to penetrate deeper in North American ..

JW Holdings wins US patent for technology to detect early-stage pancreatic cancer JW Holdings has obtained a patent in the United States for the world’s first multi-biomarker diagnostic kit that can detect pancreatic cancer early only through a simple blood test, raising expectatio..

Samsung Elec sued by UK’s Nanoco for QD patent infringement Samsung Electronics Co. and affiliates face a patent infringement lawsuit by U.K.-based nanotechnology developer Nanoco over quantum-dot (QD) technology applied to its flagship QLED TVs in the United ..

Koreans demo stem cell delivery via microrobot for knee cartilage surgery Korean researchers have successfully demonstrated knee cartilage regeneration by using stem cells delivered by a magnet-controlled microrobot, raising hope to broaden a non-invasive procedure for pati..

Mediforum swings to operating profit on record sales Mediforum Pharmaceutical (formerly C-Tri) said on Friday it swung to an operating profit of 1.5 billion won ($1.26 million) last year on record sales driven by new product launches and profitability m..

Daewoong Pharma joins 1-trillion-won sales club last year, Q4 OP down 71% South Korea’s Daewoong Pharmaceutical Co. passed milestone 1 trillion won ($844 million) in revenue last year on global sales of self-developed botulinum toxin Nabota, but saw operating profit in the ..

Kosdaq-listed HLB to seek rivoceranib approval as 1L therapy in U.S. HLB, a Korean bio name working on targeted gastric cancer drug rivoceranib, has decided to file with the U.S. Food and Drug Administration (FDA) for approval of the drug as a first-line therapy follow..

Samsung Elec uses Nonacell tech to upgrade world’s only 108-Mp image sensor Samsung Electronics Co. has upgraded its 108-megapixel (Mp) image sensor, which is the world’s only and first of its kind, by applying pixel-binning technology Nonacell that guarantees brighter and cr..

Korean cell therapy developer SCM Life kicks off process for Kosdaq IPO in March SCM Life Science, a Korean company founded in 2014 with focus on the isolation of high-purity homogeneous stem cells for therapeutic purposes, will go public on the secondary Kosdaq in March. It will..

Bio stocks are likely to lead Korean rebound in possible post-coronavirus rally Korean bio stocks are the first to watch this month for a possible strong rebound fueled by short covering when investor worries over the coronavirus outbreak begin to fade away, some analysts advice,..

Cheaper, prettier, lighter Samsung Z Flip may be a hit among the young Samsung’s newest folding phone Galaxy Z Flip may steal the hearts of females as it looks more like a stylish compact powder than a phone, which wondrously opens up to 90 degrees for a hands-free exper..

Samsung Elec, SK Telecom, Kakao to create dream team Korea on AI solutions The best of the Korean high-tech will form a dream team on artificial intelligence power. Samsung Electronics Co., SK Telecom Co., and Kakao Corp. will forge an alliance to create AI venture against..

South Korea becomes largest ransomware victim last year South Korea was the biggest victim to ransomware attacks from infamous Russian hacker group GandCrab in the first half of last year, according to security sources.Korean entities paid the largest rand..

Doosan to venture into African drone mkt with hydrogen drone solutions Doosan Mobility Innovation Inc. (DMI), a technology company under South Korea’s Doosan Group, announced Wednesday it showcased its hydrogen fuel-cell powerpack drone technology at the 2020 African Dro..

Korea’s SoCar raises $43 mn funds despite legal setbacks South Korea’s largest car-sharing service provider SoCar has raised a total 51 billion won ($43.1 million) from a number of investors since December even after its van-hailing platform Tada failed to ..

Update: Korea joins race to find vaccine, cure for coronavirus (Updated with new announcement) The National Health Institute under the Korea Centers for Disease Control and Prevention (KCDC) announced Wednesday it has embarked on the research and development of ..

Korean gov’t plan to sell Woori Financial stake hits snag due to dip in price South Korean government’s plan to start offloading remaining holdings in Woori Financial Group early this year has hit a snag, with the company’s stock price hovering below a pre-determined level amid..

NH Investment, KB Asset buy office building in Texas at $370 mn NH Investment & Securities Co. and KB Asset Management Co. have acquired an office building in Dallas, North Texas of the U.S. for $370 million from U.S.-based real estate developer RED Development. T..

Kolmar Korea agrees to sell pharma business assets to IMM PE Kolmar Korea Holdings Co. has agreed to sell Kolmar Korea’s pharmaceutical business unit and Kolmar Pharma to local private equity fund (PEF) IMM PE at estimated 750 billion won ($625 million) to impr..

Celltrion Q4 OP doubles, sales hit record high on brisk biosimilar sales overseas South Korea’s leading drugmaker Celltrion Inc. hit record sales and more than doubled its operating profit in the fourth quarter last year as its biosimilars made huge inroads in overseas markets. T..

AlpenRoute Asset Management seeks to sell stakes in Market Kurly for liquidity South Korea’s AlpenRoute Asset Management that recently suspended redemption of 230 billion won ($193 million) worth funds is readying to sell its stake in Market Kurly, a fast-rising local online gro..

Winix stock on fire as sales of Korean air purifier flies in US and China Winix, a Korean air purifier brand, has emerged as a hot stock this year with fast improvement in earnings amid growing exports and new product launches. The stock was bullish over the past year wit..

Kospi’s rebound restricted to a few while 72 hit 3-yr lows, 50 at 5-yr lows Polarization in Korean stocks deepened as return of capital into Kospi stayed restricted to IT blue-chips, whereas the bulk touched new bottoms for three to five years, data showed.The Kospi bourse on..

Six out of 10 Korean big firms expect sales damage of 8% from coronavirus outbreak Six out of 10 South Korean companies fear business toll from the ongoing spread of new coronavirus called COVID-19, expecting the outbreak to translate into losses of 8 percent in overall sales and 9 ..

Lime admits to near 50% loss ratio, leaving little for retailers after liquidation Korea’s liquidity-short hedge fund Lime Asset Management Co. admitted nearly half has been lost in some of the funds it had been suspending withdrawals and that there would be little left for retail i..

Parkinson’s disease drug developer Kainos Medicine okay to go public after merger Kainos Medicine Inc., a Korean clinical-stage drug developer company, said on Friday that it has received approval from Korea Exchange (KRX) on its planned merger with Kosdaq-listed Hana Financial Ele..

Korea’s major listed firms estimated to report 30% better profit this year Major publicly trading Korean names will likely contribute to a 30 percent gain in cumulative operating profit this year, according to estimations by brokerage houses predicting a reversal in the chip..

Four out of 10 Kosdaq firms face scrutiny for noncompliance in auditor rule A bulk of companies listed on South Korea’s junior bourse Kosdaq could end up on the stock exchange operator’s special watch list after general shareholders meeting this year due to anticipated challe..

CJ shares buoyed by strong performance of major units and “Parasite” halo Shares of CJ Corp., holding company of the South Korean food and media conglomerate, are on a bull run, buoyed by strong earnings of its key food unit and the Oscar victory of “Parasite,” a movie fina..

Foreign capital inflow hits 7-mo high in Korean money market in Jan. Foreign capital inflow to the Korean securities market hit a seven-month high last month when the global financial market was rattled by fears that the coronavirus (COVID-19) outbreak would dent growt..

Woori CEO-nominee vows priority in restoring confidence after derivatives scandal Woori Bank’s nominated CEO vowed to place top priority in reviving customers’ confidence after scandal over its mismanagement of derivatives-related products that ended up causing major losses for ret..

Korean airliners bottom line hit hard by loss of travels to Japan, virus outbreak South Korean airliners are crashing down amid hiatus in travel business due to spread of the China-originated novel coronavirus (COVID-19) that can further wreck their bottom line that bore the burn f..

Vestas prepping fund devoted to overseas real estate to retailers in Korea Individuals in Korea will be able to invest in a fund devoted to overseas real estate assets later in the year.Vestas Investment Management Co. a third in the real estate fund category with 7 trillion..

Korean banks employ high-tech to prevent mis-selling of risky products South Korean banks are employing artificial intelligence to toughen customer protection amid scandalous losses from mis-selling. According to industry sources on Monday, Shinhan Bank will launch a t..

Korea’s NPS investment rate averages 10-year high of 11% in 2019 South Korea’s state pension fund National Pension Service (NPS) performed its best in managing the world’s third largest assets in a decade with an average return rate of 11 percent, thanks to strong ..

NHN’s Q4 OP up 7.1% on year, ends 2019 in record earnings South Korea’s leading game and online service provider NHN Corp. recorded a 7.1 percent on-year increase in fourth-quarter profit and ended 2019 in best-ever performance as mobile payment and other no..

Korea’s Feb. exports to China slump due to virus disruption South Korea`s exports to China fell in the first 20 days of February and overall outbound shipments per working day sank as the coronavirus outbreak began to affect supply chains, dashing hopes for re..

Income of bottom 20% Korean families rise on govt-made jobs, handouts South Korea’s household income disparity between the top and bottom brackets eased for the first time in two years in the quarter ended December, largely through social benefits and subsidized jobs fr..

Korean bonds jump on renewed bet on rate cut amid worries on econ from virus South Korea’s government debt prices have reversed direction to north as rationale for another rate cut as early as this month built up amid growing pessimism about an economic recovery in line with t..

Seoul heeds advice of conglomerate leaders to ease blow of coronavirus South Korea will temporarily flex the statutory 52-hour workweek and lower air freight tariffs to soften the blow of the coronavirus outbreak on Korean businesses. In a meeting with top business leade..

S&P slashes Korea’s 2020 growth outlook under virus crisis Global credit ratings agency Standard and Poor’s (S&P) revised down South Korea’s economic growth outlook for this year to 1.6 percent from 2.1 percent, joining others in turning more negative about A..

Korean pres. orders “all possible actions” to cushion harm from virus on the econ South Korean President Moon Jae-in turned most urgent-to-date in the battle against the new coronavirus (COVID-19), commanding “all possible actions” to rein in the spread as it is “absolutely” necess..

Korean banks and others face FSS probe, lawsuits over Lime fund fiasco South Korea’s financial watchdog next month will begin its field investigation on the scandal from the suspension of investment return by Lime Asset Management Co., starting with major sellers of the ..

FTC reports Naver founder to prosecutors for omitting key reports South Korea’s antitrust watchdog has reported Naver founder Lee Hae-jin to prosecutors on charges of deliberately withholding information on some Naver affiliates to avoid designation as the portal gi..

Korea’s auto sales, output, exports all fall sharply in Jan on fewer work days South Korean car shipment for domestic sales fell to a seven-year low in January as output was interrupted by the Lunar New Year holiday break and partial strikes at some car producers. According to ..

Korea’s export prices in Jan hit 40-month low The much-awaited rebound in South Korean exports may not come easy as export prices slid back in January to hit the lowest in more than three years, even without the new virus outbreak setback. The..

Fitch keeps S Korea’s rating unchanged, warns of growth hit from virus attack International rater Fitch Ratings on Wednesday affirmed South Korea’s sovereign credit ratings at “AA-“, the fourth highest in its rating scale, with a stable outlook and kept its growth outlook for t..

Korea’s job growth in Jan accelerates, led by record state-led hire of seniors South Korea’s job growth in January accelerated to the fastest pace in more than five years, primarily led by state-sponsored temporary jobs for the elderly that pushed their job gains to record highs..

Korea’s household debt growth slowed sharply in January amid new regulation South Korea’s household loans extended by commercial banks retreated sharply in January compared to a month ago due to the seasonal factors. According to data released by the Bank of Korea on Tuesday..

Coronavirus accelerates migration to online shopping in Korea The coronavirus outbreak has kept more Koreans indoors, giving more traction to online and mobile shopping for grocery, food deliveries and other everyday necessities. Eight credit card companies in ..

Korean exports on Feb 1-10 up sharply on year, but negative in daily volume South Korea’s exports in the first 10 days of February showed a whopping rebound against a year-ago period with fewer working days. But whether the month can snap a 14-month-long losing streak is yet ..

Korean tour industry seeks gov’t help to prevent chain bankruptcies The South Korean tourism industry has turned to the government for aid to prevent chain bankruptcies as short-haul travel has virtually come to a stop due to the spread of coronavirus originating from..

Korean retailers brace up for worst-to-date biz due to absence of Chinese South Korean retailers could face their worst-to-date year in 2020 due to the sudden outbreak of a new deadly disease from China as they could lose over 10 trillion won ($8 billion) from their primary..

Korea’s tax revenue in 2019 slips for first time in 5 yrs South Korea’s budget balance last year deteriorated sharply, with tax revenue falling short of target for the first time in five years and causing the biggest fiscal deficit in eight years due to redu..

Institutions at home and abroad turn negative about Korean econ due to virus China-originated coronavirus outbreak is expected to interrupt the feeble recovery of the Korean economy which performed at its worst in a decade last year, given its heavy reliance on its neighboring..

Korea to ease regulations in stem cell research, fintech to spur growth South Korea has set out to ease stiff regulations in healthcare, fintech and other key sectors by the first half of the year, in efforts to jumpstart a weak economy that is likely to slow further from..

Korea declares Daegu a special zone after spike in coronavirus cases South Korea designated the southeast cities of Daegu and Cheongdo as a “special management zone” after a super-spreader from a religious cult there nearly tripled the national infection tally to over ..

Food delivery soars in Korea due to unabated COVID-19 spread Consumers in South Korea are increasingly turning to ‘contactless’ services as infection cases from no relevance to China surges in the country and causes panic about the danger of the mysterious new ..

S. Korea to discuss upping virus warning alert to highest after surge in new confirmed cases The South Korean government said on Wednesday that it will consult whether to raise its current infectious disease warning to the highest level based on the results of the ongoing epidemiological inve..

Iran warns of punitive actions on Samsung Elec for its phone service restriction Tehran threatened to ban entry of Samsung Electronics employees and registration of mobile phones in Samsung label in protest to the Korean company’s decision to restrict Iranian access to its smartph..

Ride-hailing service Tada wins first court battle vs taxi industry South Korea’s rental van-hailing service Tada has won the first court battle against prosecution, gaining impetus to normalize its mobility business that has faced multiple challenges, from die-hard c..

S. Korea’s proposed game law revision faces strong complaint from local players South Korean government’s proposed revision in the gaming law to toughen regulations and raise adult age has stoked strong protest from the industry fearing weakening in competitiveness against foreig..

Korea successfully launches environment-monitoring Cheollian Satellite 2B South Korea’s geostationary earth orbit satellite was successfully launched into orbit, ready for its mission of observing the marine ecosystem around the Korean Peninsula for the next 10 years. The..

Korea’s consumer goods imports from Japan in Jan falls 36% amid unfazed boycott Regardless of smaller-than-expected impact on the economy from Tokyo’s delisting of South Korea from white-country status for fast-track in exports, South Koreans stayed disapproving of Japanese label..

South Korea-made nuclear reactor in UAE ready for operation South Korea’s first exported nuclear reactor has been cleared by the United Arab Emirates (UAE) for operation, setting into motion the first commercial reactor in the Arab world. The UAE’s Federal Au..

Korea`s car production remains at world`s 7th in 2019 amid overall decline South Korea retained its seventh-place ranking among the world’s top 10 car manufacturing countries last year for a fourth consecutive year last year amid weaker domestic and global car demand, data s..

Seoul to dole out $355 mn in emergency loans for LCCs, tourism, dining biz The South Korean government will extend minimum 420 billion won ($355 million) in emergency funding for transportation, tourism and restaurant businesses hit hard by the spread of new coronavirus (COV..

Seoul recommends use of anti-HIV drug for COVID-19 treatment South Korean government endorsed use of Kaletra, a combination of two anti-HIV drugs, to treatment novel coronavirus (COVID-19)-infected patients who are old or severely ill, or have other underlying ..

Hyundai, Fiat, BMW, Volkswagen and others to recall 494,720 vehicles in Korea Hyundai Motor Co. and five auto and bike importers in South Korea will voluntarily recall more than 490,000 units of vehicles from 21 models due to faulty parts. The Ministry of Land, Infrastructure ..

Baedal Minjok food delivery app draws Korean youth eager for side gigs Delivery gigs are becoming an appealing side hustle for young Koreans in a tough job market. Woowa Brothers Corp., owner of Korea’s top food delivery app Baedal Minjok, said the number of Baemin rid..

Korean startups invited to compete at UN-led eXtreme Tech Challenge-Maekyung Maekyung Media Group announced Tuesday that it joined hands with a non-profit group ‘XTC’ to encourage applications of startups at home and abroad for ‘eXtreme Tech Challenge (XTC)’, the world largest..

Maekyung Media Group chosen as exclusive Korean media partner for VivaTech 2020 South Korea’s largest business news organization Maekyung Media Group will cover VivaTech, the largest startup forum in Europe with over 120,000 participants, exclusively from Asia.Maekyung Media Grou..

Nongshim drums up ‘Chapaguri’ frenzy amid Parasite wave South Korea’s food and top ramyeon maker Nongshim Co. moved fast to ride on the “Parasite” wave, packaging up for release in American grocery stores an instant cup version of ‘Chapaguri’, a mix recipe..

Korean conglomerate CJ shares credit for Parasite’s Oscar victory Parasite made Oscar history by becoming the first foreign-language film to win best picture through its witty satire on the conflict between the haves and the have-nots. But ironically, without the fu..

Parasite ends winning streak with Grand Slam at Academy Awards South Korean film Parasite directed by Bong Joon-ho ended a stunning yearlong winning streak across the world by dominating the most conservative Academy Awards, sweeping up four major wins including ..

Lime Asset’s retail investors could lose all their money if loss rate nears 60% Individual investors may not be able to redeem a cent if funds sold by Korea’s troubled hedge fund Lime Asset Management Co. post a loss ratio of near 60 percent, an outside auditor warned. The outs..

EU to boost garment industry in Myanmar The new phase of the European Union’s SMART Textile and Garments project will bring together brands, trade unions and business associations to boost social and environmental sustainability in Myanmar’..

Report: Wage growth sluggish for Msian youths, low-income households KUALA LUMPUR: Slowing income growth among lower-income households and younger workers has contributed to perceptions of Malaysians being “left behind”, reported the 1st edition of the World Bank’s Mal..

Japan Coast Guard to `eliminate` Chinese drones TOKYO -- The Japan Coast Guard plans to stop using and procuring Chinese-made drones in fiscal 2020 due to concerns over information security, Nikkei has learned. It will be the second case in which C..

Tesco may sell Thailand, Malaysia businesses LONDON: Britain`s biggest supermarket chain Tesco said on Sunday it had started a review of its businesses in Thailand and Malaysia, including looking at a possible sale. It said in a statement that ..

Baht concerns abound More than two decades ago, the baht suffered heavy devaluation as a result of speculation, forcing Thailand`s central bank to de-link the local currency from the US dollar and adopt a managed floating..

Singapore resident employment rate edges up but income growth slows: MOM SINGAPORE - The resident employment rate was slightly higher in June this year compared to the same month last year despite economic headwinds, according to an advance labour force report on Thursday ..

US promotes inclusive agriculture-led growth in Kachin State Myitkyina - US Ambassador Scot Marciel met with more than 60 members of the Kachin State agriculture sector in Myitkyina last Thursday, to discuss how the new US Agency for International Development (..

PM declares new tourism perks The government is set to revise the perks for investment in tourism and related services. Officials also pledge to introduce additional short-term measures to stimulate tourism during the high season..

Power shortages again in dry season, says prime minister Cambodia will face power shortages again from the end of this year throughout the dry season, Prime Minister Hun Sen said on Thursday. Speaking at the official launch of the National Strategic Develo..

Myanmar lags as ASEAN sees record FDI Foreign direct investment (FDI) into Myanmar still lags other countries in ASEAN, according to a report issued by the ASEAN Secretariat last week. The report ASEAN Investment Report 2019: FDI in Serv..

Foreign investors turned net buyers of Malaysia`s debt securities Foreign investors turned net buyers of Malaysia`s debt securities in September with total foreign holdings expanded to RM189.1 billion. This is after FTSE Russell decided to keep the country in the..

Viet Nam, Cambodia issue joint statement Viet Nam and Cambodia have issued a joint statement on the occasion of the Viet Nam visit by Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen from October 4-5 at the invitation of h..

Myanmar, Thailand accelerate plans to link, electrify Dawei SEZ Myanmar and Thailand will speed up development of a Special Economic Zone (SEZ) and deep sea port at Dawei in Tanintharyi Region, officials said during the 9th Myanmar - Thailand Joint Coordinating Co..

BoT optimistic about Q3 growth on tourism, stimulus Thailand`s economic growth in the third quarter is likely to improve from the second quarter`s reading, mainly thanks to positive tourism growth and the government`s economic stimulus measures, says t..

Vietnam GDP in first three quarters climbs to 9-year high Local gross domestic product (GDP) climbed nearly 7 per cent in the first three quarters of 2019, reaching its highest level for the last nine years. Director General of the General Statistics Of..

Evergrande partners with global leading automotive firms to bolster new energy vehicle dev. China`s conglomerate China Evergrande Group has joined hands with the world`s five leading automotive engineering and technology enterprises to further optimize its industrial chain layout in the new ..

Myanmar launches workplace guide to respecting local culture Foreign executives and managers in Myanmar can now rely on a handbook about respecting the local culture in the workplace when it comes to defusing possible cross-cultural misunderstandings and potent..

Myanmar vows to take stricter action on illegal trade Myanmar will take strict action against illegal trade with the aim of substantially reducing the volume of fake or illegal products entering the market, said U Soe Win, Minister of Planning and Financ..

Thailand hosts 37th ASEAN Ministers on Energy Meeting Country Thailand`s Ministry of Energy has showcased its success in nominating Thai enterprises to win ASEAN Energy Awards 2019, with a total of 23 qualifying firms, setting a record for the highest number of ..

Cambodia Government unveils tourism masterplan to increase visitors The government is set to roll out the Four-Strategic Plan for Tourism Development aimed at reviving tourism in the Kingdom`s northern provinces, an inter-ministerial committee meeting has decided. ..

Oscar-winning Parasite grosses $2.15 mn a day in N. America, ranks No. 1 in Japan South Korean director Bong Joon-ho’s Oscar-winning film Parasite continues winning streak in box office after sweeping awards across the world, grossing $2.15 million on Saturday alone in the United S..

BTS-related shares roar in the run-up to BTS comeback on Feb. 21 Shares related to the K-pop sensation BTS are rallying ahead of the boyband’s Feb. 21 comeback. Shares of DPC, an affiliate of STIC Investments, one of the major investors behind the group’s label B..

Oscar winner Parasite out to make fortune after achieving fame Having reached the peak in global fame through sweeping wins at the Academy Awards, Parasite is now out to make history for Korean and non-English motion pictures in fortune-making.It is poised to joi..

Korea’s hottest mobile game Lineage 2M rakes in $3.46 mn every day NCSoft’s mobile MMORPG title Lineage 2M, the most popular game app on the Google Play Store in sales, generates as much as 4.1 billion won ($3.46 million) a day on average, according to an analysis on..

Krafton faces IPO setback due to friction in management Krafton Game Union, South Korean game company behind hit survival shooter game PlayerUnknown`s Battlegrounds, may face a setback in its initial public offering (IPO) scheme after an abrupt business cl..

K-pop stars increasingly inspire global luxury fashion brands Reflecting their growing influence in the entertainment and young community across the world, K-pop stars are being sought by global fashion houses to become their faces and models.Adidas featured Bla..

Nexon to shore up mobile releases to redeem revenue and image After the much-hyped flop in the corporate sale plan, South Korea’s leading game developer Nexon Co. this year plans to redeem its name through releases of mobile versions in best-selling games and bu..

Parasite adds historic SAG Awards win, first for foreign-language film South Korean dark social satire film “Parasite” was crowned at the 2020 Screen Actors Guild (SAG) Awards for outstanding performance by a cast in a motion picture on Sunday for the first time for a fo..

Kakao M strengthens music contents business Kakao M, entertainment unit of South Korea’s top messenger operator Kakao Corp. has reorganized its record labels to strengthen content competitiveness. According to entertainment industry sources o..

Maekyung Media Group’s MBN Y Forum to kick off on Feb.18 Maekyung Media Group will hold MBN Y Forum, its annual youth mentoring forum, on February 18 at Jangchung Arena in Central Seoul.Under the theme of ‘LIFE is YOURS’, Maeil Business Newspaper and Maeil ..

Naver Webtoon takes over Korean AI startup V.DO Naver Webtoon, a content distributing subsidiary of South Korea’s biggest portal Naver Corp., acquired local artificial intelligence (AI) startup V.DO that has been supported by Naver’s startup accele..

“Parasite” becomes first Korean film nominated for Oscar’s best picture Bong Joon-ho’s “Parasite” has become the first South Korean film to be nominated for a best picture Oscar as well as for five more categories including the best director, making history in a century-o..

BTS new album ‘Map of the Soul: 7’ out on Feb. 21 K-Pop superstar BTS will release its new album ‘Map of the Soul: 7” on February 21 and preorder begins on Thursday, its agency Big Hit Entertainment Co. announced on Wednesday at the group’s global fa..

Korea stays fourth in global game industry South Korea’s game industry maintained fourth global rank, with sales at 14.29 trillion won ($12.14 billion) in 2018. Game revenue rose 8.7 percent from 2017, exceeding the global average gain of 7.1..

Parasite adds Golden Globe trophy to its lengthy list of awards Bong Joon-ho’s black family satire “Parasite” was crowned the best foreign film at the 2020 Golden Globes on Sunday, opening a new chapter in South Korean film history and lifting its award prospects ..

BTS comeback, SuperM tour and other acts to delight K-pop fans in 2020 K-pop is geared to make bigger global strides in 2020, with BTS poised to drop their new album and other idol groups prepping world tours. The most anticipated event of the year is undoubtedly the c..

Pengsoo at peak of stardom to toll the Boshingak bell for New Year Ten-year-old genderless penguin character Pengsoo who has become omnipresent in Korean media both online and offline in less than a year of debut will celebrate this year’s rise to stardom by joining ..

ATU Partners creates esports fund to acquire DragonX team, invest in Azyt South Korean private equity fund ATU Partners has launched a fund dubbed ATU Esports Growth Fund to acquire the world’s famous League of Legends esports team DragonX and invest in California-based tal..

Big-screen smartphones in high demand in Korea by Lineage 2M and game enthusiasts Big-screen smartphones are in high demand in Korea following the release the blockbuster mobile games like Lineage 2M. LG Electronics Inc. said Sunday that it has sold about 900,000 units of LG V50 T..

Korean film distributors beef up 2020 pipeline to dethrone Disney South Korean film distributors have bolstered their movie pipeline next year after losing their home turf to Walt Disney Company who swept box offices with Frozen 2. Walt Disney Company Korea was th..