Hahn & Co. grants Namyang staff shares after profit rebound

Hahn & Co. said Wednesday that it will distribute shares of its portfolio company Namyang Dairy Products to employees as part of a shared growth initiative rarely seen in Korea’s private equity industry. Namyang Dairy’s board has approved a plan to allocate treasury shares totaling 1.6 billion won ($1.16 million) to employees. Under the plan, all 1,546 employees of Namyang Dairy will be eligible for the shares valued at about 1.08 million won each, as of Wednesday's closing price. “The decision

July 9, 2025

Hybe’s Bang Si-hyuk referred for IPO fraud probe

South Korea's top financial watchdog plans to refer Bang Si-hyuk, founder and chair of Hybe and chief producer behind the K-pop sensation BTS, to the prosecution for alleged fraud charges related to the listing of the entertainment powerhouse. Following a decision made by a subordinate committee to refer Bang to the prosecution made earlier this week, the Securities and Futures Commission under the Financial Supervisory Service is to deliberate on the case through a meeting slated for next week.

July 9, 2025

LG’s new AI slashes genetic testing time to under 1 minute

LG AI Research on Wednesday unveiled its next-generation artificial intelligence model, Exaone Path 2.0, which can diagnose diseases by analyzing patients’ pathology images alone. This new AI model is expected to drastically reduce the time required for genetic testing from two weeks to under one minute, marking a step forward in the early diagnosis of diseases such as cancer. Exaone Path 2.0 has been upgraded from the first edition, trained on higher-quality data. It offers enhanced capabilitie

July 9, 2025

S. Korea's biggest unmanned systems exhibition kicks off

South Korea's largest unmanned systems exhibition kicked off Wednesday, showcasing the latest cutting-edge unmanned mobility technologies for defense, automotive, space and other industries. The Unmanned System World Congress 2025 will run through Friday at the Convention and Exhibition Center in southern Seoul, unveiling unmanned system technologies of major Korean companies, according to the Ministry of Trade, Industry and Energy. Leading defense firms, such as Hyundai Rotem Co., Korea Aerospa

July 9, 2025

Hanwha Ocean wins US Navy ship maintenance deal

Hanwha Ocean Co., a major South Korean shipbuilder, has secured a contract to provide maintenance, repair and overhaul (MRO) services for the US Navy ship Charles Drew, industry sources said Tuesday. The company won the US Navy's regular MRO project for the Charles Drew, a dry cargo and ammunition ship assigned to the Navy's 7th Fleet, the sources said. The non-combat vessel is expected to arrive at Hanwha Ocean's Geoje shipyard, about 330 kilometers southeast of Seoul, later this month and be d

July 8, 2025

[Herald Interview] Chairman of Thailand’s Amata eyes Korea to create ‘city of tomorrow’

Vikrom Kromadit, founder and chairman of Thailand-based Amata Corp., has placed South Korea at the heart of his vision for the future of Southeast Asia‘s smart cities. "Korea has shown the world what innovation and determination can achieve in both business and culture," the chairman said during an interview with The Korea Herald at Herald Media Group's office in Seoul on Saturday. ”We are ready to partner with Korean companies and create a bigger future together, step by step. We have the land,

July 8, 2025

South Korea races to avert 25% tariffs as Trump extends deadline

South Korea has until Aug. 1 to cut a deal with the US after President Donald Trump delayed crushing 25 percent tariffs on Korean imports, with Seoul vowing all-out efforts to negotiate its way out of looming duties. Trump on Monday posted a letter to South Korean President Lee Jae Myung on Truth Social, warning that the 25 percent “reciprocal” tariffs will take effect next month unless South Korea eliminates its tariff and nontariff policies and trade barriers. Along with Korea, Trump disclosed

July 8, 2025

Samsung’s Q2 profit falls short as chip slump, tariffs take toll

Samsung Electronics forecast its earnings to fall significantly short of market expectations in the second quarter this year, dragged down by weak semiconductor sales, unexpected inventory-related costs and growing uncertainties including US tariffs. In its earnings guidance Tuesday, the tech giant predicted its consolidated sales to post 74 trillion won ($54.1 billion) for the April-June period, down 0.09 percent on-year. The operating profit estimate plunged 55.9 percent to post at around 4.6

July 8, 2025

Samsung to acquire Xealth to expand digital health

Samsung Electronics said Tuesday that it has signed an agreement to acquire Xealth, a US-based digital health care company, in a move to strengthen its connected care services across wearable devices, including Galaxy smartphones, smartwatches and the Galaxy Ring. The acquisition marks a significant step in Samsung’s long-term vision for Samsung Health, which aims to integrate wellness and medical care to help Galaxy users manage their health in daily life and prevent disease. Founded in 2016 as

July 8, 2025

Taipei Fubon Bank opens first Seoul office to bolster Asia-Pacific push

Taipei Fubon Bank has officially launched its first representative office in Seoul, advancing the group’s push to expand across the Asia-Pacific region. Fubon Financial Holding, the bank's parent company, said Tuesday that the office opened its doors in Yeouido, Seoul’s financial district in Yeongdeungpo-gu, on Friday. This makes Fubon the second Taiwanese bank to establish a foothold in Korea. Fubon Financial is Taiwan’s largest financial conglomerate by market capitalization, valued at around

July 8, 2025

ING names finance veteran as Korea manager

Global finance giant ING has appointed a seasoned corporate and investment banking expert as its country manager for South Korea, the firm announced Tuesday. Helen Hae-youne Jung, former head of the corporate coverage group at BNP Paribas Korea, is to lead ING’s wholesale banking strategy here, deepening strategic partnerships and advancing financing solutions. With over 27 years of experience in wholesale banking at global investment banks, Jung played a key role in expanding BNP Paribas Korea’

July 8, 2025

[Photo News] Kia EV5 unveiled

Kia on Tuesday unveiled its fifth all-electric model, the EV5 — the first SUV addition to the carmaker's previously sedan-based EV lineup. While key details such as driving range remain undisclosed, the exterior design features a boxy yet dynamic silhouette. A standout interior element is the panoramic wide display, which integrates a 12.3-inch digital cluster, a 12.3-inch infotainment screen and a 5-inch climate control display into the crash pad. The EV5 is set for official launch later this y

July 8, 2025

Korea hosts largest offshore wind event, doubles global participation

The Korea Wind Energy Industry Association said Monday it successfully hosted the nation’s largest offshore wind power event, solidifying its role as a hub for international collaboration in renewable energy. The second annual Offshore Wind Supply Chain Conference & Exhibition was held on Wednesday and Thursday at Bexco convention center in Busan. This year’s event brought together 74 offshore wind supply chain companies from around the world, including those from the United Kingdom, Japan, Taiw

July 7, 2025

SKT loses 800,000 subscribers amid fallout from hacking scandal

SK Telecom, South Korea’s largest telecommunications firm by market share, is facing mounting fallout from a massive cyberattack, with subscriber churn accelerating despite the company’s compensation measures, such as allowing customers to cancel their contracts early without penalty. While the company may retain its No. 1 position for now, its market dominance is increasingly under threat, with over 800,000 subscribers having already left as of the end of last month. As rival carriers ramp up e

July 7, 2025

Global PEFs eye K-beauty boom

Overseas private equity firms are ramping up their pursuit of South Korea’s beauty brands, eager to capitalize on the global K‑beauty boom. CLSA Capital Partners, a private equity firm headquartered in Hong Kong, has been selected as the preferred bidder for a 50 billion won ($36 million) investment in Jungsaemmool Beauty, a cosmetics brand founded and directed by the renowned makeup artist Jung Saem-mool. Driven by the rising popularity of Korean cosmetics, the company posted a revenue of 110 b

July 7, 2025