psy 5 billion
Scope
Date
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Economy
Korea returns to current account surplus in Dec but faces export slump
South Korea’s current account balance returned to the black in December from the previous month mainly thanks to gains in dividend payments bu...
Feb 08, 2023 (Gmt+09:00)
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Artificial intelligence
SK Telecom to launch multimodal AI to match ChatGPT
South Korea’s SK Telecom Co. will adopt natural language generation and processing capabilities for its nascent artificial intelligence servic...
Feb 08, 2023 (Gmt+09:00)
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Automobiles
Hyundai's IONIQ 5 named Best Electric Vehicle of 2023 in US
Cars.com, a US automobile evaluation website, named the Hyundai Motor Co.'s IONIQ 5 as the Best Electric Vehicle of 2023 on Tuesday. According to Hy...
Feb 08, 2023 (Gmt+09:00)
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Airlines
Jeju Air resumes daily flights to Hanoi, Ho Chi Minh City, Vientiane
South Korea's low-cost carrier Jeju Air Co. said on Monday that it would run daily flights from Korea to Hanoi and Ho Chi Minh City in Vietnam and V...
Feb 07, 2023 (Gmt+09:00)
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Korean stock market
Korea's growing ETF market sees net assets jump $5.9 billion in Jan
The net assets and trading volume of South Korea's exchange-traded funds (ETFs) this year have seen major growth.The Korea Exchange on Monday said t...
Feb 07, 2023 (Gmt+09:00)
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Foreign exchange
S.Korea-Australia renew $8.1 bn currency swap deal for 5 years
The Bank of Korea (BOK) and the Australian Central Bank have agreed to extend the valid date of the current Australian dollar/won currency swap cont...
Feb 07, 2023 (Gmt+09:00)
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Sovereign bonds
S.Korean institutional investors inject more capital in MMFs
South Korean institutional investors, such as pension funds, mutual aids and corporates, are rushing to money market funds (MMFs) for short-term pro...
Feb 06, 2023 (Gmt+09:00)
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Mergers & Acquisitions
Dongwon Industries in talks to buy McDonald’s Korea as exclusive suitor
Dongwon Industries Co. will discuss a deal with McDonald’s Corp. to buy the latter’s Korean operations in hopes of riding on the renewed...
Feb 06, 2023 (Gmt+09:00)
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Economy
Korea’s inflation picks up 5.2% in January on high utility prices
South Korea’s headline inflation accelerated 5.2% year on year in January, reversing its course of slowing in the past two months due to gains...
Feb 02, 2023 (Gmt+09:00)
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Automobiles
Hyundai, Kia post record-high Jan. sales figures in US
Hyundai Motor Co. and Kia Corp. posted the highest sales record in the US market in January. Hyundai Motor America said on Wednesday that it sold 52...
Feb 02, 2023 (Gmt+09:00)
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Shipping & Shipbuilding
Samsung Heavy wins $495 million order for two LNG ships
Samsung Heavy Industries Co., a leading South Korean shipbuilder, said on Wednesday it has won a 609.7 billion won ($495 million) deal to build two ...
Feb 01, 2023 (Gmt+09:00)
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Sovereign bonds
Foreigners net sell S.Korean bonds for first time in four years
Foreign investors dumped South Korean bonds in Janaury, becoming net sellers of the securities for the first time in four years as they booked pro...
Jan 31, 2023 (Gmt+09:00)
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Food & Beverage
One in 5 South Koreans claims Starbucks Rewards stars
Starbucks Korea saw members of its rewards program surpass 10 million this month, meaning that one in every five South Koreans is a registered membe...
Jan 31, 2023 (Gmt+09:00)
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Earnings
Hyundai Mobis bags record $4.6 bn orders from global carmakers
South Korea's Hyundai Mobis, a key affiliate of Hyundai Motor Group, last year enjoyed its best year in orders received from abroad.The company on T...
Jan 31, 2023 (Gmt+09:00)
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Pension funds
NPS underperforms global peers by returns for Q1-Q3 2022
South Korea's National Pension Service (NPS), the world's third-largest pension fund, ranked 10th out of the global 42 state-owned investors by rate...
Jan 31, 2023 (Gmt+09:00)
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Airlines
Asiana to introduce sustainable aviation fuel in partnership with Shell
Asiana Airlines Inc. has joined hands with multinational energy company Shell plc to introduce sustainable aviation fuel (SAF), an eco-friendly fuel...
Jan 30, 2023 (Gmt+09:00)
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Venture capital
Korea's venture capital investment falls 12% last year amid downturn
South Korea's venture capital investment last year fell more than 10% from a year ago due to the economic downturn caused by a series of global rate...
Jan 30, 2023 (Gmt+09:00)
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Energy
Korean refiners lift runs to 3-year high on record exports
Refiners in South Korea raised their operating rates to a three-year high in 2022 as petroleum product exports hit a record high in value.Refinery r...
Jan 29, 2023 (Gmt+09:00)
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Earnings
Hyundai vows $8.5 billion investment after record 2022 sales, profit
South Korea’s top automaker Hyundai Motor Co. said on Thursday it will spend 10.5 trillion won ($8.5 billion) this year to ramp up facilities ...
Jan 26, 2023 (Gmt+09:00)
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Energy
Hanwha Solutions, Microsoft sign solar energy partnership in US
Hanwha Solutions Corp., a unit of South Korea’s chemicals-to-construction conglomerate Hanwha Group, said on Thursday it has formed a strategi...
Jan 26, 2023 (Gmt+09:00)
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Electronics
Samsung's Galaxy S23 obtains Canstar Blue's Most Satisfied Customers award
Galaxy S23, the latest mobile handset of South Korea's electronics giant Samsung Electronics Co., obtained the Canstar Blue 2023 Most Satisfie...
Jan 25, 2023 (Gmt+09:00)
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Shipping & Shipbuilding
KSOE wins orders for 7 LNG carriers in 1 week
Korea Shipbuilding & Offshore Engineering (KSOE), a mid-level shipbuilding holding affiliate of HD Hyundai Co., has landed successive orders for...
Jan 20, 2023 (Gmt+09:00)
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Construction
Hyundai E&C wins record $28.4 billion in new orders last year
South Korean builder Hyundai Engineering & Construction last year earned sales of 21 trillion won ($17 billion) thanks to growth in the domestic...
Jan 20, 2023 (Gmt+09:00)
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Asset management
Mirae Asset sees 100-fold jump in deposits 15 years after entering India
South Korea's Mirae Asset Global Investments on Wednesday marked the 15th anniversary of its incorporated company in India that now has 21 trillion ...
Jan 19, 2023 (Gmt+09:00)
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Food & Beverage
Lotte to invest $55 mn in Indian ice cream subsidiary for 5 years
South Korea-based Lotte Confectionery Co. will invest 4.5 billion rupees ($55.1 million) in its Indian unit Havmor Ice Cream in the next five ...
Jan 18, 2023 (Gmt+09:00)
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Korean startups
Medical platform operator Integration raises $8 mn in Series B funding
Integration Inc., which operates specialized platforms for medical personnel such as Traditional Korean Medicine doctors and dentists, has raised 10...
Jan 17, 2023 (Gmt+09:00)
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Business & Politics
South Korean companies ink $6.1 billion MOUs with UAE partners
ABU DHABI – Business leaders from South Korea and the United Arab Emirates (UAE) have signed 24 initial agreements worth at least $6.1 billion...
Jan 17, 2023 (Gmt+09:00)
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Batteries
Hanwha, LG Energy team up for US battery production
South Korea’s Hanwha Group will invest in LG Energy Solution Ltd.'s battery production lines for energy storage systems (ESS) in the US, some ...
Jan 16, 2023 (Gmt+09:00)
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Business & Politics
UAE’s sovereign funds to invest $30 billion in South Korea
ABU DHABI – The United Arab Emirates will invest $30 billion in South Korea across strategic sectors, including the nuclear power, defense, hy...
Jan 16, 2023 (Gmt+09:00)
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Batteries
LG Energy, Honda to build $4.4 billion battery plant in Ohio
LG Energy Solution Ltd. and Honda Motor Co. have launched their first US joint venture to build an electric vehicle battery plant in Ohio, LG said o...
Jan 13, 2023 (Gmt+09:00)