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Korean boardrooms face shakeup after Assembly passes Commercial Act revision
Boardrooms across South Korea could see dramatic changes after the National Assembly passed a revision to the Commercial Act on Thursday, holding corporate directors legally accountable to all shareholders, not just their companies. The move was hailed by investors as a watershed moment in tackling the long-standing “Korea discount” that has chronically undervalued South Korean equities. In contrast, the business community voiced concerns that the bill could hinder long-term growth, trigger a wa
July 3, 2025 -
AI demand spurs chip giants’ facility growth
South Korean semiconductor giants are ramping up facility investments to expand their future market share, encouraged by upbeat projections of explosive growth in the artificial intelligence chip sector. Samsung Electronics is reviewing plans to restart construction of new chip manufacturing plants in Korea, while SK hynix recently began construction of a new back-end processing facility. According to industry sources Thursday, Samsung is preparing to resume the construction of the Pyeongtaek Ca
July 3, 2025 -
Korea relaunches Nexon holding firm stake sale
South Korea is moving to offload its 4.7 trillion won ($3.46 billion) stake in NXC Corp., the holding company of game developer Nexon. The Ministry of Economy and Finance opened the sale process earlier this week, putting its shares in NXC up for public bidding, according to industry sources Thursday. NXC is the largest shareholder of Tokyo-listed Nexon Japan and the sole owner of its Korean subsidiary, Nexon Korea. The ministry acquired a roughly 30 percent stake — about 852,000 shares in total
July 3, 2025 -
Hanwha Asset bolsters alternative investment push
Hanwha Asset Management, the investment arm of South Korea’s defense-to-energy conglomerate Hanwha Group, is ramping up its capabilities in alternative investments as part of its strategy to diversify its global portfolio. The firm recently appointed private equity veteran James Kyu-hyun Kim as executive director. Kim is expected to spearhead new initiatives in the private equity sector, where firms generate returns by acquiring, managing and eventually selling stakes in private companies. Hanwh
July 3, 2025 -
K-pop in beauty stores: Olive Young diversifies as rivals gather
Beauty retail giant CJ Olive Young is tightening its grip on Korea’s cosmetics market with a fresh push that fuses Korean cultural trends and hyper-personalized beauty experiences — all while sharpening its global edge. With more than 1,300 stores nationwide, Olive Young has long dominated the local scene — and now it’s doubling down. As new challengers emerge in Korea’s booming beauty space, the company is evolving its content strategy and store experience to stay ahead of the curve. Olive Youn
July 3, 2025 -
Samsung bets on Nvidia to reclaim HBM lead
Samsung Electronics Vice Chair Jun Young-hyun, who oversees the company’s semiconductor business, has traveled to the US to meet with Nvidia, fueling expectations that Samsung could narrow the gap with competitors and win new orders for high bandwidth memory chips. According to industry sources on Wednesday, Jun visited Nvidia last week to discuss the supply of Samsung’s fifth-generation HBM3E 12-layer products for the GPU maker's Blackwell Ultra GB300, as well as their foundry partnership. This
July 2, 2025 -
Korea Zinc keeps AA+ rating on stable business outlook
Korea Investors Service, a major local credit rating agency owned by Moody’s, has affirmed its AA+ rating on Korea Zinc’s unsecured bonds, citing the company’s solid profitability, sound financial footing and diversified operations. “Korea Zinc, which operates the world’s largest single-site zinc smelter, has secured a near-monopoly in the domestic market thanks to its strong production capabilities,” the agency said in a report released Monday. “Its stable business profile is supported by a div
July 2, 2025 -
Japan shipyard merger challenges Korea's role in US naval projects
The recently announced merger of Japan’s two largest shipbuilders, Imabari Shipbuilding and Japan Marine United Corporation, is expected to have a limited impact on their Korean rivals but signals growing competition for contracts with the US Navy. Experts say the widening gap stems from Japan’s long-standing decline in shipbuilding, which cannot be fixed by size alone. Still, Japan’s renewed push is raising concerns that Korea’s bargaining power may weaken, given Tokyo’s established ties in ser
July 1, 2025 -
Foreign students eager to stay, work in Korea
Seven out of 10 international students in South Korea want to work and settle in the country, a new survey showed Tuesday, as Korean companies step up efforts to recruit foreign talent. The Korea Trade-Investment Promotion Agency said 71 percent of international students surveyed in its recent Global Talent Fair expressed interest in working and living in Korea. Among them, 42 percent cited a desire to gain work experience, while 29 percent said they hope to settle in the country long-term. The
July 1, 2025 -
China to keep anti-dumping steel duties on EU, UK, S. Korea and Indonesia
BEIJING - China will maintain duties on certain steel products from the European Union, the United Kingdom, South Korea and Indonesia, its commerce ministry said Monday, as overcapacity concerns drive global trade turbulence. The duties on stainless steel billets and hot-rolled plates, first levied by Beijing in 2019, range from 20.2 percent for Indonesian imports to 43 percent for those from the EU. China's commerce ministry said that an internal investigation found the potential termination of
June 30, 2025 -
MG Non-Life Insurance likely to be put back on selling block
Financially troubled MG Non-Life Insurance Co. may be put back on the selling block after the country's financial regulator and the company's labor union tentatively agreed on the matter, industry sources said Monday. In May this year, the Financial Services Commission said it has decided to liquidate MG Non-Life Insurance and its policy contracts would be transferred to five non-life insurers via a "bridge insurance company." MG Non-Life Insurance has been on the selling block before after bein
June 30, 2025 -
Saudi developer taps S. Korea as top partner for futuristic project
The head of New Murabba Development Company, the developer behind Saudi Arabia's futuristic urban development project, said Monday that South Korea has been chosen as the company's top partner for its advanced infrastructure and information technology capabilities, as well as its long history of collaboration with the Middle Eastern nation. "There is a long and strong history between the two nations of collaborating," said Michael Dyke, chief executive officer of the company, in an interview wit
June 30, 2025 -
Hyundai Steel accelerates zero carbon emission efforts
Hyundai Steel is driving its efforts to reduce carbon emissions in the steel and construction industries, under its commitment to achieving carbon neutrality by 2050. According to the company, it hosted the “3rd Symposium on Steel Byproduct Utilization for Construction Material Technology” on June 20 in Seoul. The event aimed to share ways to use steel byproducts as construction materials and to strengthen cooperation between Hyundai Steel and other related organizations. This initiative also ad
June 30, 2025 -
Hanwha Life completes investment in Indonesia's Nobu Bank
South Korean insurer Hanwha Life said Monday it has completed its strategic investment in Indonesia’s Nobu Bank, acquiring a 40 percent equity stake and marking its first foray into the overseas banking sector. The deal closed earlier in the day, more than a year after Hanwha signed a stock purchase agreement with Nobu Bank’s parent, Lippo Group — Indonesia’s sixth-largest conglomerate — in May 2024. The investment deepens Hanwha Life’s presence in Indonesia’s financial sector. The Korean insure
June 30, 2025 -
Tariffs, global slump cloud Korea's Q3 export outlook
South Korea's export growth is projected to slow in the third quarter, weighed down by major headwinds including Trump-led tariff policies and a sluggish global economy, according to a local trade agency on Monday. With US President Donald Trump showing no signs of rolling back hefty tariffs during a Sunday interview, industry sentiment is expected to dampen further, observers say. The Korea International Trade Association said its export business survey index of 1,066 exporting companies stood
June 30, 2025