Test case looms for Korea’s revised Commercial Act as VIP Asset challenges Lotte Rental’s rights issue to Affinity

Lotte Rental Co., South Korea’s No. 1 car rental and leasing company, is facing a backlash from a key minority shareholder over its planned ri...

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...

South Korea accelerates stablecoin framework amid global race

Just one week after electing President Lee Jae-myung, an apparent backer of stablecoin adoption, South Korea is swiftly moving to clear the path for...

Korea’s ruling party revives corporate law reform with stricter rules

South Korea’s ruling party is reviving its push for an amendment to the Commercial Act with tougher mandates aimed at protecting minority shar...

Lee names nominees for prime minister, spy agency chief, other key posts

South Korean President Lee Jae-myung on Wednesday unveiled his nominees for major government posts, including prime minister and spy agency chief, i...

Ritz-Carlton to return to Seoul, tapped by IGIS Asset for landmark project

IGIS Asset Management Co., South Korea’s leading real estate investment firm, has named The Ritz-Carlton the preferred hotel brand for its amb...

Hanwha Aerospace slashes planned rights offering size to $1.6 billion

Hanwha Aerospace Co., a leading South Korean defense company, said on Tuesday it plans to slash the size of its proposed rights offering to 2.3 tril...

Korean court reinstates impeached PM Han as acting president

South Korea’s constitutional court on Monday ruled against the impeachment of Prime Minister Han Duck-soo, restoring him to his position as ac...

Opposition-controlled Korean Parliament passes slashed $470 bn budget

South Korea's opposition-controlled National Assembly on Tuesday passed a government budget bill for 2025, slashed from the government's proposal am...

Samsung Electronics to buy back $7.2 bn in shares

Samsung Electronics Co. will buy back 10 trillion won ($7.2 billion) in shares over the next year to prop up its share price, which has plunged more...

With Samsung Bespoke AI kitchen, anyone can be a Michelin-star chef

Lim Hee-won, a celebrity chef who appeared on Netflix’s cooking competition show Culinary Class War, made a special trip to a studio in Seoul ...

S.Korea set to scrap financial investment income tax

South Korea is set to scrap a plan to impose a tax on gains from financial investments – a scheme slated to be introduced early next year &nda...

CJ Logistics, Baropharm to cooperate on pharmaceutical logistics

South Korea's CJ Logistics said on Monday it signed a strategic partnership and exclusive pharmaceutical logistics contract with Baropharm, an integ...

Big Tech get slap on wrist for tax avoidance in Korea

Global Big Tech companies such as Google, Meta and Netflix have paid a pittance in South Korea taxes and were fined as little as one-ten-thousandth ...

Lotte Shopping to set up Singapore holding firm, eyes its IPO

Lotte Shopping Co., South Korea’s leading retail company, will transform its special purpose company (SPC) in Singapore into a holding firm to...

Chip winter looming? Micron, Samsung give opposite views

Micron Technology Inc. on Wednesday delivered stronger-than-expected quarterly results and gave a bullish outlook for the current quarter, shrugging...

CJ Logistics joins hands with Affinity for third-party logistics

CJ Logistics announced on Wednesday that it has signed a strategic memorandum of understanding (MOU) with Affinity Equity Partners.Affinity is a glo...

MBK Partners’ sale of Homeplus Express hits snag over valuation gap

MBK Partners’ planned sale of Homeplus Express, the supermarket chain of South Korean hypermarket operator Homeplus, has hit a snag as potenti...

HD Hyundai Samho, Wan Hai sign LOI for methanol-powered ships

South Korea's HD Hyundai Samho secured a potential order for four methanol dual-fuel container ships from Taiwan's Wan Hai Lines, according to the...

Samyang Roundsquare holds 'Buldak Ferry Party' in Denmark

Samyang Roundsquare, formerly known as Samyang Foods Group in South Korea, announced on Friday that it held a consumer event called the "Buldak Spic...

LG CNS, Aeon to collaborate on EdTech in Japan

South Korea's LG CNS announced on Thursday it signed a memorandum of understanding (MOU) with Aeon, an education company operating over 300 direct l...

LG Electronics acquires Athom to facilitate AI smart home push

South Korea’s home appliance giant LG Electronics Inc. said on Wednesday it has acquired Athom B.V., a Netherlands-based home automation compa...

Samsung, KEPCO to collaborate on power facility tech

Samsung Electronics Co. and Korea Electric Power Corp. (KEPCO) announced on Friday that they signed a memorandum of understanding (MOU) to cooperate...

Burger, chicken franchises raise prices after elections

Fried chicken and hamburger franchises in South Korea have sharply bumped up their food prices following the parliamentary elections last week as th...

Louis Vuitton opens its first 'Watches & Jewelry' store in S.Korea

Louis Vuitton announced on Friday that it opened its first Watches & Jewelry store in South Korea at the Shinsegae Department Store Gangnam loca...

AhnLab to form joint venture with Saudi SITE

AhnLab Inc., South Korea's information security solutions company, announced on Monday that it signed an agreement to establish a joint venture (JV)...

South Korea Boosts Security for Politicians as New Threats of Violence Emerge

SEOUL—South Korea beefed up security for prominent political figures as new threats of violence materialized against top officials, including ...

Foreign net buying of Samsung Elec at record high in 2023

Foreign investors turned net buyers of Samsung Electronics Co. in 2023, reversing their selling spree of the stock over past three years, as the sem...

KAI inks support deals for exported fighter jets to Poland

Korea Aerospace Industries Ltd. (KAI), the country’s sole military aircraft manufacturer, agreed with Polish companies on follow-up support me...

Cho Yang-rai to fight back in MBK Partners’ bid to acquire Hankook Tire

Cho Yang-rai, honorary chairman of Hankook & Company Co., has vowed to fight MBK Partners Ltd.’s bid to take over the holding company of S...