Hanwha seeks to buy Paraspara Seoul from developer tied to Banyan Tree Busan fire

Hanwha seeks to buy Paraspara Seoul from developer tied to Banyan Tree Busan fire

Hanwha Hotels & Resorts Co. is in talks to acquire Paraspara Seoul, a five-star hotel and resort, up for sale by a property developer facing lia...

Kumho Tire shuts Gwangju plant after fire, derailing record sales run

Kumho Tire shuts Gwangju plant after fire, derailing record sales run

Kumho Tire Co. has suspended all operations at its Gwangju plant in South Korea after a fire destroyed 50-60% of the production lines in one of its ...

Meritz backs half of ex-manager’s $210 mn hedge fund

Meritz backs half of ex-manager’s $210 mn hedge fund

Meritz Financial Group Inc., one of South Korea’s most aggressive alternative asset managers, has committed 150 billion won ($105 million) to ...

Korea’s pension fund NPS rules out investing in MBK’s hostile M&A deals

Korea’s pension fund NPS rules out investing in MBK’s hostile M&A deals

South Korea’s National Pension Service (NPS) said on Monday it will not participate in investments related to hostile mergers and acquisitions...

Meritz drops bid for troubled MG Non-Life Insurance; Liquidation looms

Meritz drops bid for troubled MG Non-Life Insurance; Liquidation looms

Meritz Financial Group Inc., South Korea’s second-most valuable financial holding firm, has dropped its bid to acquire financial distressed MG...

Meritz leaps to No. 2 financial holding firm in South Korea

Meritz leaps to No. 2 financial holding firm in South Korea

Meritz Financial Group Inc., once a medium-sized financial service firm in South Korea, has become the second-most valuable publicly traded financia...

Meritz cheers record profit in 2024, boasts top 3 market cap

Meritz cheers record profit in 2024, boasts top 3 market cap

Meritz Financial Group Inc. has reported its best-ever net profit for last year thanks to handsome gains from investments by its insurance and secur...

Samsung Life, Samsung Fire sell $193 mn in Samsung Electronics shares

Samsung Life, Samsung Fire sell $193 mn in Samsung Electronics shares

Samsung Life Insurance Co., South Korea’s largest life insurer, and Samsung Fire & Marine Insurance Co., the country’s No. 1 non-lif...

Samsung Life mulls putting Samsung Fire under its wing as subsidiary

Samsung Life mulls putting Samsung Fire under its wing as subsidiary

Samsung Life Insurance Co., South Korea’s largest life insurer, is considering bringing Samsung Fire & Marine Insurance Co., the country&r...

Hanwha Systems to export K11's tactical control to Egypt

Hanwha Systems to export K11's tactical control to Egypt

Hanwha Systems Co., a leading South Korean defense company, said on Monday it will export fire tactical control systems of K11 Fire Direction Center...

Korean funds offer rescue financing for global offices

Korean funds offer rescue financing for global offices

South Korean institutional investors are offering rescue financing for overseas office buildings, which their local peers have yet to exit, as they ...

Hyundai Rotem to unveil unmanned firefighting robot

Hyundai Rotem to unveil unmanned firefighting robot

South Korea's Hyundai Rotem Co. unveiled on Thursday an unmanned firefighting robot designed to tackle fires in hazardous environments without riski...

Hyundai Glovis introduces EV drill lance on car carriers

Hyundai Glovis introduces EV drill lance on car carriers

South Korea's Hyundai Glovis Co. said on Thursday that it will introduce a special fire suppression tool, the EV (Electric Vehicle) - Drill Lance, f...

LG Elec builds EV chargers safety net for fire prevention

LG Elec builds EV chargers safety net for fire prevention

LG Electronics Inc. equipped its slow electric vehicle (EV) chargers with dual overcharge prevention technology to alleviate customer concerns and a...

Hyundai to develop unmanned robot for EV fire suppression

Hyundai to develop unmanned robot for EV fire suppression

Hyundai Motor Group said on Thursday that it plans to jointly develop the unmanned firefighting robot vehicle with the South Korean National Fire Ag...

Mercedes-Benz EV sales tumble in South Korea after fire

Mercedes-Benz EV sales tumble in South Korea after fire

German luxury carmaker Mercedes-Benz AG suffered a nosedive in EV sales in South Korea in August after a fire broke out in one of its electric vehic...

August inflation puts BOK under fire for delayed pivot

August inflation puts BOK under fire for delayed pivot

South Korea’s inflation moderated to the government’s target of 2.0% in August, its slowest increase in three years and five months, put...

LG Energy looks to battery safety diagnosis software business

LG Energy looks to battery safety diagnosis software business

LG Energy Solution Ltd., one of the world’s top battery makers, said on Wednesday it is entering the battery safety diagnosis software busines...

After Mercedes Fire, EV Owners Want to Know What Battery They Have

After Mercedes Fire, EV Owners Want to Know What Battery They Have

SEOUL—The uproar over a Mercedes-Benz electric vehicle that burst into flames in South Korea this month wasn’t only about fire...

Hyundai, Kia to apply BMS to all EVs for fire prevention

Hyundai, Kia to apply BMS to all EVs for fire prevention

Hyundai Motor Group, the world’s third-largest automaker, plans to install its battery management system (BMS) in all its electric vehicles to...

Fire-plagued Mercedes uses Chinese cells for most EVs in S.Korea

Fire-plagued Mercedes uses Chinese cells for most EVs in S.Korea

Mercedes-Benz AG, a German luxury carmaker hit by an electric vehicle fire in South Korea, said most of its EV models in the country are equipped wi...

Half of EV imports in Korea run on Chinese batteries as EV fires rise

Half of EV imports in Korea run on Chinese batteries as EV fires rise

Of 58 electric vehicle models running on the streets of South Korea, 22 models are equipped with Chinese batteries, a survey showed on Friday.Accord...

S-Oil halts fire-hit paraxylene plant, faces revenue loss

S-Oil halts fire-hit paraxylene plant, faces revenue loss

ULSAN, South Korea -- It looks inevitable that S-Oil Corp., the South Korean unit of Saudi Arabian Oil Co., will take a substantial revenue hit from...

Samsung likely to buy The Asset office tower for more than $724 mn

Samsung likely to buy The Asset office tower for more than $724 mn

Samsung Group is poised to acquire the Samsung Fire & Marine Insurance Co. headquarters building in Seoul for more than 1 trillion won ($724.4 m...

Hanyang Securities up for sale; in talks with KCGI, Woori

Hanyang Securities up for sale; in talks with KCGI, Woori

Hanyang Securities Co., a small South Korean brokerage firm, has been put on the market as its parent Hanyang University Foundation scrambles to kee...

Meritz to return 50% of net profit to shareholders

Meritz to return 50% of net profit to shareholders

Meritz Financial Group Inc. became the first South Korean financial holding company to unveil a concrete shareholder return plan, pledging to alloca...

Lotte Chemical develops anti-thermal runaway material

Lotte Chemical develops anti-thermal runaway material

Lotte Chemical Corp., South Korea’s second-largest petrochemicals company seeking to ramp up value-added advanced materials production, has de...

Doosan Enerbility to introduce carbon reduction tech at Thai power plant

Doosan Enerbility to introduce carbon reduction tech at Thai power plant

South Korea's Doosan Enerbility Co. plans to introduce carbon reduction technologies, including ammonia co-firing and carbon capture, utilization an...

MBK drops out of Air Premia’s Asiana cargo unit takeover bid

 MBK drops out of Air Premia’s Asiana cargo unit takeover bid

Asian private equity firm MBK Partners has dropped out of a plan to back 300 billion won ($217.9 million) for South Korean budget airline Air Premia...

SK Gas eyes commercial operations of LNG power plant in 2nd half

SK Gas eyes commercial operations of LNG power plant in 2nd half

SK Gas Ltd., South Korea’s leading liquefied petroleum gas (LPG) supplier seeking to transform into a clean energy company, has moved a step c...

Kakao Pay backs out of acquisition deal for SSG Pay, Smile Pay Hanwha in talks to buy five-star hotel Paraspara Seoul Kia's Lego-like PV5 with 16 variants to hit market in July Stray Kids make K-pop history with landmark stadium show in Germany S.Korea’s most prominent business leader returns with all charges cleared