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CU launches visa support services for foreign nationals
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SK Telecom scrambles to restore trust after massive data breach
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Korea’s per capita GDP set to fall below 2022 levels: IMF
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What Trump wants from the won
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Inflation understanding falls sharply among S. Koreans as financial literacy slips
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Trump says he heard Samsung will build 'massive' production facilities in US
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Short selling turnover decreases one month after resumption
Short selling activity in South Korea has returned to near pre-ban levels about a month after a yearlong suspension was lifted, the bourse operator said Sunday. On March 31, South Korea reinstated short selling for all listed companies, ending a ban that began in November 2023 following revelations of naked short selling violations involving several global investment banks. According to the Korea Exchange, short selling on the main KOSPI and secondary KOSDAQ markets averaged 848.5 billion won pe
May 4, 2025 -
Nearly 20 mln sign up for SKT's USIM Protection Service after data breach
SK Telecom Co. said Sunday that nearly 20 million subscribers have signed up for its USIM Protection Service following a large-scale data breach. A total of 19.9 million people had registered for its USIM Protection Service as of Sunday morning, while 956,000 have already replaced their universal subscriber identity module chips, SK Telecom said in a daily briefing. An additional 7.6 million subscribers have booked USIM replacements online. SK Telecom explained that the USIM Protection Service p
May 4, 2025 -
Won's volatility over dollar deepens over Washington's tariff uncertainties
The Korean currency's volatility over the dollar deepened last month due to uncertainty surrounding Washington's sweeping tariffs on American imports, according to central bank data on Sunday. The average daily fluctuation in the won-dollar rate for April was 9.7 won, or 0.9 percent, according to the data by the Bank of Korea. This marked the largest volatility since November 2022, when fluctuations reached 12.3 won and 0.9 percent amid optimism over a potential shift in the U.S. Federal Reserve
May 4, 2025 -
What's K-beauty's top firm in Q1? Amorepacific rises as LG H&H falls
The first quarter earnings of South Korea’s top two beauty giants, Amorepacific and LG Household & Health Care, have been largely shaped by their approaches to international market diversification beyond China. In the January–March period, Amorepacific Holdings reported consolidated revenue of 1.16 trillion won ($817 million), up 15.7 percent from a year earlier, with operating profit climbing 55.2 percent on-year to 128.9 billion won. Noticeable in the company’s profit growth was the strong per
May 3, 2025 -
When YouTube replaces TV, news and politics: what South Korea learned the hard way in 20 years
When YouTube launched its Korean-language service on Jan. 23, 2008, it entered a nation ready to embrace it — and be transformed. Seventeen years later, South Korea has become one of the most YouTube-centric societies in the world, using the platform not just for entertainment, but to wage political battles, reshape pop culture, and redefine the public square. Now, as YouTube marks its 20th anniversary globally, the scale of its influence in South Korea is almost unmatched. According to a 2024 g
May 3, 2025 -
Won gains to 5-month high
The Korean won gained its value sharply against the greenback on Friday, reaching the 1,390 won range for the first time in five months during after-hours trading. The won against the dollar strengthened to 1,397.2 won at around 18:42 p.m., gaining value by 30 won from 1,426.9 won, the closing price of the previous after-hours trading session. Its value per dollar stood at 1,393.27 won as of 9:50 p.m. The won's appreciation came amid the gain of the Chinese yuan. With China indicating a softenin
May 2, 2025 -
GM Korea's April sales fall 6.3% on weaker demand
GM Korea Co., the South Korean unit of General Motors Co., said Friday its sales fell 6.3 percent in April from a year earlier on lower demand for its models. The company sold 41,644 vehicles last month, down from 44,426 units in the same period last year, the company said in a press release. Domestic sales plunged 42 percent on-year to 1,326 units last month from 2,297, while exports declined 4.3 percent to 40,318 from 42,129. From January to April, total sales dropped 9.1 percent to 154,161 un
May 2, 2025 -
Economic leadership vacancy intensifies uncertainty in Korea
South Korea faces heightened economic uncertainty after Finance Minister Choi Sang-mok’s abrupt resignation late Thursday, disrupting key policy initiatives that include imminent US tariff negotiations. Choi resigned Thursday night shortly after the main opposition Democratic Party of Korea filed his impeachment motion, with acting President Han Duck-soo — who had himself already announced his own resignation earlier in the day to be effective at midnight — accepting the resignation soon after.
May 2, 2025 -
TheBorn Korea unveils W5b relief package to calm franchisees' discontent
South Korean food franchise firm TheBorn Korea has introduced a 5 billion won ($3.5 million) relief initiative to support its franchises nationwide, which have been hit hard by a slew of controversies over quality and hygiene issues. The package includes a full waiver of franchise royalties for three months across all brands, helping alleviate fixed operational costs for owners. Throughout May, TheBorn Korea will run a company-funded promotional campaign designed to increase foot traffic and boo
May 2, 2025 -
Hyundai, Kia see minimal impact from Trump’s ease of auto parts tariff
Although US President Donald Trump recently walked back parts of his automotive tariff policies, Hyundai Motor Company and Kia are anticipated to experience only insignificant benefits, sources said Friday. “The partial tariff exemption eases the tax burden for Hyundai Motor and Kia, lowering some of the price hike pressures due to rising costs,” said an industry source close to the matter on condition of anonymity. “However, this could benefit the carmakers only to some extent, as the 25 percen
May 2, 2025 -
Hanwha Group expands defense footprint into Latin America
Hanwha Group’s three major defense affiliates -- Hanwha Aerospace, Hanwha Systems and Hanwha Ocean -- are stepping up efforts to expand into the Latin American defense market, using Chile as a strategic gateway. On Monday, the three companies participated in “Korea Defense Day 2025” held in Santiago, Chile, where they showcased key defense solutions tailored for the region. Jointly organized by KOTRA and the Embassy of the Republic of Korea in Chile, the exhibition aimed to support Korean defens
May 2, 2025 -
SKT freezes new sign-ups, toughens consumer protection amid hacking fallout
SK Telecom said Friday it will suspend new subscriber sign-ups at its retail stores starting from Monday, to expedite USIM card replacements and to enhance customer protection in the fallout of a massive data leak from a recent hacking incident. In a press briefing at the company's headquarters in downtown Seoul on Friday, CEO Ryu Young-sang announced that all 2,600 T World stores nationwide will halt receiving new subscriptions so the company can focus on replacing compromised USIM cards. It wi
May 2, 2025 -
Daemyung Sono to sell Air Premia stake amid aviation portfolio pivot
Daemyung Sono Group, a South Korean resort and condominium operator, said Friday that its holding company, Sono International, will sell its entire 22 percent stake in Air Premia, dampening speculation that the group intended to merge the hybrid carrier with its other budget airline, T’way Air. The stake, split at 11 percent each between Sono International and private equity firm JC Partners through a joint venture, will be sold to local tire retailer Tire Bank at 1,900 won per share by the end
May 2, 2025 -
Hyundai Ioniq 5 to receive IRA subsidy with US production shift
Hyundai Motor Co.’s Ioniq 5, its flagship electric, midsized SUV, became eligible to receive the US government-sponsored $7,500 consumer subsidy following the relocation of its vehicle and battery production to the US. According to a Hyundai Motor Group official on Friday, the US Department of Energy granted the subsidy for the Ioniq 5 for the second half of this year. The three-month delay in approval was reportedly due to the vehicle’s failure to fully meet requirements outlined in the Inflati
May 2, 2025 -
Zyx Technology partners with Chung-Ang University to provide CAD training
Zyx Technology, a Korean AI digital design platform company, announced Friday that it signed a memorandum of understanding with Chung-Ang University to collaborate on CAD software training and workforce development. Under the agreement, Zyx Technology will provide the university with three years of free educational licenses of ZyxCAD, its proprietary computer-aided design software. The software, known for its compatibility with AutoCAD and support for DWG-based 2D/3D design, will be used in clas
May 2, 2025