The korea economic daily

Korea’s Hanjin Heavy up for sale, preliminary bidding by Oct. 26

Creditors of Hanjin Heavy Industries & Construction Co. will put the cash-strapped South Korean shipbuilder up for sale next month as the lenders ...

Hyundai exports hydrogen vehicles to world’s No. 1 oil producer Saudi Aramco

Hyundai Motor Co. has shipped four hydrogen-powered vehicles to Saudi Arabian Oil Co., the world’s largest oil producer, at a time when even the...

KB Financial to end coal project financing for low-carbon economy

KB Financial Group will no longer finance coal power projects at home and abroad, nor invest in them, said the South Korean banking group, with a set ...

LS Electric develops battery temperature sensor for ESS

LS Electric Co., a South Korean electric power and automation equipment maker, has developed a battery cell temperature sensor (BTS) that can monitor ...

Samsung creeps up on Apple in US online smartphone sales

Samsung Electronics Co. has sharply narrowed its gap with Apple Inc. in the US online smartphone market during the second quarter of this year to arri...

Foreign cloud service providers led by Amazon, MS play big in Korea

Global cloud service providers such as Amazon Web Services (AWS) are taking a greater share of South Korea’s serverless computing market, where ...

Korean unicorn Krafton eyes 2021 IPO to raise over $850 mn

South Korean games developer Krafton Inc., 13.2% owned by Tencent Holdings’ investment arm, is seeking to raise over 1 trillion won ($852 millio...

Hyundai Motor hires two AI experts to strengthen foothold in future mobility

Hyundai Motor Group has hired two artificial intelligence experts as the company aims to secure its position in the future mobility sector, including ...

Tesla unveiling offers opportunity for Korean EV battery makers; shares down

Tesla Inc.’s announcement that it will adopt a new battery technology to significantly improve an electric vehicle’s range and power shoul...

Tesla CEO's tweets allay concerns over EV battery supplies; LG Chem shares rise

Shares of LG Chem Ltd. rebounded on Sept. 22 from their shaky performance in the past few sessions, buoyed by Tesla Inc. founder Elon Musk’...

Korea’s tractor and farm machinery maker envisions smart mobility firm

Daedong Industrial Co., South Korea’s leading tractor and farm machinery maker, aims to transform into a smart mobility company, applying a...

BTS label Big Hit’s caginess upsets investors ahead of IPO bookbuilding

Big Hit Entertainment Co., home to the seven-member boy band BTS, is set to hold its first official IPO-related conference for South Korean institutio...

S. Korea to grow green biotech industry to $10.6 bn by 2030; nurture talent

The South Korean government said on Sept. 21 that it will triple the size of the country’s green biotechnology industry over the next decade and...

AXA General sale off to shaky start with Kyobo Life as sole bidder

The sale process of AXA General Insurance Co. got off to a shaky start with only Kyobo Life Insurance Co. making a preliminary bid on Sept. 18. S...

LG Chem says dual listing of battery subsidiary possible, rules out pre-IPO

South Korea’s LG Chem Ltd. may list its soon-to-be-launched battery subsidiary not just on the local bourse but also on overseas exchanges to ra...

Korean Air seeks to sell 73-story skyscraper amid financial woes

Korean Air Lines. Co. is reaching out to overseas investors to gauge their interest in acquiring Wilshire Grand Center, a landmark building in Los Ang...

Urgent need to expand Korea's EV charging infrastructure: lobby group

It is critical that the South Korean government and carmakers swiftly move to increase local charging stations for electric vehicles and secure raw ma...

LG Chem to launch battery affiliate Dec. 1; IPO under review

LG Chem Ltd., South Korea’s leading chemicals maker, has endorsed a company plan to spin off its battery business as a standalone entity to stre...

Korean Air to lend $950 mn to US hotel unit for debt repayment

Korean Air Lines Co. will provide $950 million in loans to its fully owned US hotel operator which has $900 million in debt maturing this month, the c...

LG Chem to spin off battery business as wholly owned subsidiary

LG Chem Ltd. will spin off its secondary battery business into a wholly owned subsidiary in a move to foster its automotive battery business, accordin...

S. Korea's Kakao Work to rival Slack, messenger platform apps

Kakao Enterprise Corp., the artificial intelligence service unit of South Korea’s Kakao Corp., has launched a business messenger platform to com...

Korea’s car-sharing platform becomes 12th unicorn following $42.5 mn injection

South Korea’s leading car-sharing platform Socar Inc. has become the country's 12th unicorn valued at around 1.1 trillion won after re...

Studio Dragon sets sights overseas, $3.4 bn market cap possible: analyst

South Korea’s leading drama producer Studio Dragon Corp. is expected to post handsome earnings in coming years, boosted by a steady stream of jo...

Hyundai Motor ships fuel cell system to non-automotive European startups

Hyundai Motor Co. has exported its fuel cell system to non-vehicle startups in Europe, expanding its hydrogen business beyond the automobile industry,...

Celltrion group tipped to exceed 1 trillion won in profit; first among bio firms

South Korea’s Celltrion Inc. and its affiliates are expected to post robust operating profits this year on the back of strong sales of Remsima a...

LG launches world's first rotatable T-shaped smartphone

LG Electronics Inc. unveiled its new smartphone LG Wing on Sept. 14 in an online event, the first product rolled out under the company’s Explore...

Korean display makers poised to suffer from US ban on Chinese app WeChat

Korea’s two largest display panel makers – Samsung Display Co. and LG Display Co. – are widely expected to suffer from the US ban on...

LG Chem flies lithium-sulfur battery-loaded aircraft into stratosphere

LG Chem Ltd. has completed a test flight of an unmanned plane in the stratosphere using its lithium-sulfur battery for the first time in South Korea.T...

Samsung to make new Qualcomm chips for 5G smartphones with 5nm technology

Samsung Electronics Co. has secured a deal to manufacture Qualcomm Technologies Inc.’s new mobile application processor for 5G smartphones, the ...