South Korea’s Lee completes cabinet lineup with IT executive, lawmaker

South Korean President Lee Jae Myung has tapped an information technology firm executive as culture minister and a ruling party lawmaker as land min...

Samsung flexes financial muscle as insurance, card units top rankings

Samsung Group’s financial affiliates are closing in on KB Financial Group for the top spot in South Korea’s financial services sector, u...

Korean LCCs boost travel demand to global tourist hubs

South Korean low-cost carriers (LCCs), including Air Premia Inc. and Air Busan Co., have been expanding into underserved smaller cities, but also dr...

MBK’s Lotte Card sale gains momentum amid Homeplus fallout

North Asia-focused private equity firm MBK Partners’ second attempt to exit Lotte Card Co., South Korea’s fifth-largest car issuer, is g...

RedotPay lands in Seoul with crypto cards

RedotPay, a Hong Kong-based blockchain fintech company, has arrived in South Korea with its cryptocurrency-based payment cards and is poised to disr...

Kyobo Life poised to buy Japan’s SBI Group-owned savings bank

Kyobo Life Insurance Co. is in the final stages of negotiation with Japanese financial group SBI Holdings Inc. to buy about a 50% stake in SBI Savin...

Korean hotels bask in rising foreign visitors; travel agencies in trouble

Hotels in South Korea are booming thanks to a surge in foreign visitors on a weaker won currency, while domestic travel agencies are suffering from ...

Lotte Card Card to launch loans for affiliates in Vietnam

South Korea's Lotte Card said on Monday it will launch loans for affiliates in Vietnam.Lotte Finance Vietnam, the Vietnamese corporation of Lotte Ca...

S.Korean gov't to lift two-bottle limit on duty-free alcohol

South Korean government will lift the number restriction of duty-free alcohol bottles for inbound travelers and halve the patent fees to boost the d...

Korean stocks diverge: Winners, losers of Yoon’s martial law debacle

South Korean stocks showed clear divergences on Wednesday amid a mixed market outlook as President Yoon Suk Yeol’s martial law declaration, re...

MBK kicks off Lotte Card sale for about $1.4 bn in 2nd bid

Lotte Card Co. is expected to be up for grabs in the first half of next year amid a second sale attempt by its largest shareholder MBK Partners, a N...

KB Kookmin Card, UnionPay to cooperate on marketing

South Korea's KB Kookmin Card said on Tuesday it signed a memorandum of understanding (MOU) with China's UnionPay to cooperate on marketing. ...

S.Korean overseas card spending posts record $5.71 bn in Q3

With the increase in international travel during the summer, overseas card spending by South Korean residents reached a record high in the third qua...

Korean duty-free shops post Q3 losses; no signs of recovery

The four major duty-free shop operators in South Korea on Thursday posted operating losses in the third quarter, marking the first quarter in almo...

Lotte Card launches long-term rental car card in Vietnam

South Korea's Lotte Card Co. launched a long-term car rental exclusive card in Vietnam to expand its presence in the local market.Its Vietnamese s...

S.Korea's Hana Card, KFCC launch first PLCC

South Korea's Hana Card said on Tuesday it launched the first private label credit card (PLCC) product, the "MG+ Credit Card Primo Hana Card" of the...

CJ Logistics, KT&G introduce hydrogen cargo trucks

South Korea's CJ Logistics said on Thursday that it deployed two 11-ton hydrogen-powered cargo trucks in the logistics division of KT&G Corp.The...

Hyundai Motor sells over 1,000 Elec City FCEV

Hyundai Motor Co. said on Sunday it has sold more than 1,000 units of its hydrogen fuel cell bus Elec City Fuel Cell Electric Vehicle (FCEV) with cu...

Shinhan Card launches debit cards for foreign residents in S.Korea

South Korea's Shinhan Card said on Friday that it has launched two debit cards exclusively for foreign residents in the country: the SOL Global Chec...

Rising overseas trips to raise Korea’s travel account deficit

Demand for overseas travel among South Koreans during the upcoming holiday grew, while the number of inbound tourists from China is expected to shri...

Shinhan SOL Travel Cards' cumulative issuance reaches 1.2 mn

South Korea's Shinhan Card said on Wednesday that the cumulative issuance of its travel-specialized card, the Shinhan SOL Travel Card (available in ...

S.Korean travel retailers face downturn without Chinese big spenders

Before COVID-19 swept the world, South Korea’s top two travel retailers Lotte Duty Free and Shilla Duty Free Shop ascended to the world’...

Naver Map sees 30% increase in foreign user base

The foreign users of Naver Map, the map service of South Korea's online platform giant Naver Corp., have a 30% increase from last year.  Naver...

Hana Card's debit card overseas payment reaches 50%

South Korea's Hana Card reported on Friday that its domestic market share in overseas debit card payments has reached nearly 50%.The number of sub...

BC Card, Uzbekistan to connect payment network

South Korea's BC Card said on Monday that it signed a contract with Uzbekistan's state-run payment operator National Interbank Processing Center (NI...

Shinhan Card tops S.Korea's EPG ranking for financial institutions

South Korea's Shinhan Card said on Monday it was ranked as the leading company in the domestic financial sector in an environment, population, and g...

LG Uplus offers Korean Air gift cards to 5G subscribers

South Korea’s LG Uplus Corp. is expanding benefits for subscribers of its online-exclusive prepaid plan Nugget, including offering Korean Air ...

Hana Card, Toss Bank jointly launch PLCC card

South Korea's Hana Card announced on Friday that it partnered with Toss Bank to launch its first private label credit card (PLCC), the Toss Bank Cre...

Samsung releases 1-terabyte microSD cards for mobile devices

Samsung Electronics Co. on Thursday released higher-capacity memory cards for portable devices that can store up to 1 terabyte (TB) of data, almost ...

Korea’s Lotte Card sees 1st profit in Vietnam since launch

Lotte Card Co., South Korea’s No. 5 credit card issuer, is enjoying its first monthly profit in Vietnam after offering various financial produ...