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Toss gains US broker-dealer license, eyes Q3 launch for direct trading
Toss Securities plans to offer direct trading for US shares soon, following the recent broker-dealer approval obtained by its subsidiary, the Internet brokerage firm announced Monday. TSA Financial, a US subsidiary of Toss Securities, was registered in June as a member of the Financial Industry Regulatory Authority, a self-regulatory organization for the US brokerage industry, according to the firm. With this license, Toss Securities can now provide direct brokerage services through TSA Financia
Aug. 4, 2025 -
LG, SKT, Naver among five selected for Korea’s sovereign AI push
The Ministry of Science and ICT on Monday announced the final selection of five teams to lead South Korea’s ambitious “sovereign AI foundation model” project, aimed at building homegrown, high-performance artificial intelligence models. The selected teams are Naver Cloud, Upstage, SK Telecom, NC AI and LG AI Research. Each will be granted the titles of “K-AI model” and “K-AI company,” the ministry said. The final selection followed an evaluation process that assessed each consortium’s technologi
Aug. 4, 2025 -
Early data shows stimulus coupons are helping retailers. Opticians see biggest boost
Small business sales are already seeing an uptick a week after South Korea rolled out its stimulus coupon program, with data from July 21 to 27 showing noticeable gains, according to figures released Monday. A card sales analysis from Korea Credit Data showed that optical shops saw the biggest jump, with sales surging nearly 57 percent from the previous week. Fashion and clothing stores followed with a 28.4 percent increase. Noodle restaurants were up 25.5 percent, foreign language academies 24.
Aug. 4, 2025 -
L’Oreal Korea appoints digital veteran as new CEO
L’Oreal Korea, the local unit of the French beauty giant, announced Monday the appointment of Rodrigo Pizarro as its new CEO, a seasoned executive who has led data-driven initiatives across the group’s global operations. Drawing on more than three decades of global experience within the group, the new CEO aims to lead L’Oreal Korea into its next chapter of growth through strategic, people-focused leadership and digital innovation. “It’s an honor to serve as CEO of L’Oreal Korea in the birthplace
Aug. 4, 2025 -
Seoul shares open higher on tech gains
South Korean stocks opened slightly higher Monday, despite US losses, as investors went bargain hunting following a steep fall last week. The benchmark Korea Composite Stock Price Index rose 5.5 points, or 0.18 percent, to 3,124.91 in the first 15 minutes of trading. On Friday, the Kospi sank at the steepest pace in nearly four months as investor sentiment was dragged down by the government's tax revision proposal to raise taxes on corporations and stock investors. Wall Street lost ground last w
Aug. 4, 2025 -
Foreign money returns to Kospi, piling into Samsung Electronics
Foreign investors net purchased shares of over 6 trillion won ($4.3 billion) on the benchmark Kospi in July, driven largely by a massive 3.5 trillion won buying spree on the country’s leading chipmaker, Samsung Electronics. Offshore investors bought a net 6.28 trillion won worth of local stocks on the main bourse Kospi in July, according to the data from the bourse operator Korea Exchange. It was the largest amount since the 7.86 trillion won net buying in February 2024. Since turning to a net b
Aug. 3, 2025 -
Trump’s China tariffs reshape US ESS market, offer boon for Korean batteries
The market for energy storage systems, or ESS, in the US is at a critical juncture, as Korean battery-makers move to fill the gaps left by domestic players hurt by tariffs. Oregon-based Powin, once a top-three ESS integrator, filed for bankruptcy after tariff-driven costs on Chinese battery imports surged, exposing how vulnerable US firms are to foreign supply shocks. The shift, driven by Donald Trump’s push to curb Chinese dominance, is opening the door for Korean firms to ramp up local product
Aug. 3, 2025 -
Air Zeta debuts as Korea’s no. 2 cargo carrier after Asiana deal
Korea’s sole all-cargo airline, Air Incheon, has officially rebranded under the name Air Zeta, after acquiring Asiana Airlines’ cargo business, becoming the nation's second-largest cargo carrier. In a regulatory filing on Friday, Asiana Airlines announced that it had finalized the 470 billion won ($338 million) deal, nearly two years after receiving board approval in November 2023. Air Incheon was named the preferred bidder for Asiana’s cargo division in June 2024. Asiana’s divestment was a cond
Aug. 3, 2025 -
Amorepacific glows abroad, sending profit soaring sixfold
Amorepacific Holdings, the parent company of South Korean beauty giant Amorepacific, reported a more than sixfold increase in second-quarter operating profit on the back of robust overseas expansion and solid gains in the domestic market. In a regulatory filing on Friday, the company posted an operating profit of 80.1 billion won ($57.6 million) for the April to June period, up 555.5 percent from 12.2 billion won a year earlier. Consolidated revenue rose 8.9 percent on-year to 1.09 trillion won.
Aug. 3, 2025 -
SK On rebrands R&D arm to boost battery innovation
South Korean battery-maker SK On has renamed its core research and development center the "Future Technology Research Institute," strengthening its commitment to innovation-led growth and next-generation battery technologies. The institute, previously the SK On Battery Research Institute, has played a central role in the company’s battery development since its early days, including the world’s first NCM9 cell with 90 percent nickel content as well as the introduction of Z-folding technology. The
Aug. 3, 2025 -
LG deepens bio push with US anticancer biotech
LG Group is accelerating its push into the biohealth sector by investing in Strand Therapeutics, a US-based developer of messenger RNA-based cancer therapies. LG recently participated as a Series B investor in Strand Therapeutics through its venture capital arm, LG Technology Ventures, according to industry sources Sunday. Headquartered in Cambridge, Massachusetts, the biopharma firm was founded in 2017 by a group of synthetic biologists from the Massachusetts Institute of Technology. The firm s
Aug. 3, 2025 -
High-value gas orders lift Korean shipbuilders' profit outlook
South Korea’s major shipbuilders ― HD Hyundai Heavy Industries, Samsung Heavy Industries and Hanwha Ocean ― are set to post stronger profit growth over the coming quarters, as high-margin gas carrier orders placed since 2023 begin to flow into their earnings. These liquefied natural gas, ammonia and liquefied petroleum gas carriers, typically priced more than 10 percent higher than earlier contracts, are expected to sharply boost shipyard profitability amid stabilizing construction costs. HD Hyu
Aug. 3, 2025 -
Seoul draws red line: Why high-precision map data excluded from US trade deal
A key issue pushed by US tech giants Google and Apple ― the export of South Korea’s high-precision map data ― was notably excluded from last week’s Korea-US tariff negotiations, underscoring Seoul’s firm stance that its national security is not up a bargaining chip. According to industry sources and the presidential office on Sunday, the Korea-US trade discussions on Thursday focused largely on conventional tariff and commerce issues. The topic of high-precision map data exports, previously flag
Aug. 3, 2025 -
Major S. Korean shipbuilders launch joint task force for massive US investment project
Major South Korean shipbuilders have launched a joint task force to support the government's cooperation with the United States under a recently agreed-upon large-scale investment project in the US shipbuilding sector, officials said Sunday. The top three shipbuilders -- HD Hyundai Heavy Industries Co., Hanwha Ocean Co. and Samsung Heavy Industries Co. -- along with the Korea Shipbuilding & Offshore Engineering Association, have formed the TF and held an inaugural meeting recently, according to
Aug. 3, 2025 -
Poland signs $6.5 billion deal to purchase 2nd batch of K2 tanks
Poland on Friday signed a deal worth about US$6.5 billion to purchase the second batch of K2 tanks from major South Korean defense contractor Hyundai Rotem Co., Seoul's defense ministry said. The deal marks the largest-ever arms export contract won by a South Korean company and the first major one since the launch of the Lee Jae Myung administration in June. Under the deal, Poland will be supplied with 180 K2 tanks and 81 other support vehicles. It follows up on a contract Poland signed in 2022
Aug. 1, 2025