LS Marine wins first overseas subsea cable deal for Taiwan wind project

LS Marine Solution announced Monday that it has secured a $15.8 million contract to install subsea cables for Taiwan Power Company’s offshore wind project, marking its first overseas order in the power grid sector. It is also the first time a Korean company has bagged an international subsea cable installation project. According to LS Marine, the project is part of the TPC wind farm’s phase 2 initiative, with a generation capacity of 294.5 megawatts. It is a core project within the Taiwanese gov

April 28, 2025

Samsung SDI to showcase energy storage innovations at InterBattery Europe

Korean battery maker Samsung SDI announced Monday that it will participate in InterBattery Europe 2025, to be held in Munich, Germany, as part of its effort to strengthen its presence in the region’s rapidly growing energy storage market. The exhibition, a part of Europe’s largest energy industry gathering, The Smarter E Europe, will host around 200 companies and run from June 7 to 9. As Europe’s data center energy demand is projected to triple between 2024 and 2030, Samsung SDI plans to showcas

April 28, 2025

Shinhan Bank freed from US money-laundering oversight after 8 years

Shinhan Bank America, the US unit of South Korea’s Shinhan Bank, has been released from an injunctive order by the US government that subjected it to heightened scrutiny under its anti-money laundering program. The Federal Deposit Insurance Corporation, the US agency insuring deposits in commercial banks and savings institutions, announced its consent order against the bank terminated as of March 13, ending nearly eight years of intensified supervision for the New York-based institution. Shinhan

April 28, 2025

LG CNS posts record Q1 earnings on cloud, AI growth

Korean IT solutions provider LG CNS said that on Monday, it achieved its highest-ever first-quarter sales and operating profit, driven by the accelerating adoption of cloud and artificial intelligence solutions across industries. Its first-quarter sales reached 1.21 trillion won ($840 million), an increase of 13.2 percent compared to a year earlier. Operating profit came in at 78.9 billion won, up 144.3 percent from a year ago. The IT solutions provider said its sales have continued to grow stea

April 28, 2025

Cosmax Bio secures halal certification, eyes growth in Indonesia's health market

Cosmax Bio, a Korean original design manufacturer specializing in health functional foods, has obtained renewed halal certification for its Jecheon plant from the Korea Muslim Federation, the company said Monday. This move is part of the company’s broader strategy to expand into Indonesia, not only the world’s largest halal market but also one of the fastest-growing health markets. According to Euromonitor, Indonesia’s health functional food market is expected to reach approximately 3.65 trillio

April 28, 2025

[Contribution] Defining the 'yard' in the age of economic security

By Kim Yoo-suk President of Chey Institute for Advanced Studies As globalization gives way to a new era of economic security, the phrase “small yard, high fence” has become a strategic touchstone. Before building ever-higher fences — through tariffs, export controls and other protectionist tools — we must first define the yard we intend to protect. For the United States and its allies, including South Korea, this requires not just a defensive posture, but strategic clarity on what technologies a

April 28, 2025

Nongshim opens Shin Ramyun experience space near Machu Picchu

South Korean food and beverage giant Nongshim has opened its first "Shin Ramyun Boonsik" near Machu Picchu, Peru, creating a unique space for tourists there to experience its signature spicy noodles. The new venue, located in Aguas Calientes -- the main entrance to Machu Picchu -- is a three-story facility. The first floor features a hands-on experience zone where visitors can cook and taste Shin Ramyun themselves. The second and third floors serve as exhibition spaces, showcasing the history of

April 28, 2025

Trade ministers of S. Korea, Costa Rica discuss expanding economic cooperation

South Korea's Trade Minister Cheong In-kyo held talks with his visiting Costa Rican counterpart, Manuel Tovar, on Monday to discuss ways to bolster comprehensive economic cooperation between the two countries. During the meeting, Cheong lauded the steady growth in bilateral trade and investment based on the Korea-Central America Free Trade Agreement, which took effect in 2019, the Ministry of Trade, Industry and Energy said in a press release. He proposed further expanding trade in key sectors w

April 28, 2025

Samsung Heavy wins W561.9b order from Asia

Samsung Heavy Industries Co., a major South Korean shipbuilder, said Monday it has secured a 561.9 billion-won ($391.2 million) order in Asia to build two container ships. Samsung Heavy plans to deliver the vessels to an unidentified Asian shipper by January 2028, the company said in a filing. The company did not provide the name of the shipper. With the latest contract, the company has so far won about $2.6 billion worth of orders, or 27 percent of its annual order target of $9.8 billion, it sa

April 28, 2025

DeepSeek discloses Korean version of revised info processing policy

Chinese artificial intelligence service DeepSeek, which stirred controversy last week for the overseas transfer of Korean user information, disclosed a Korean-language version of its partially revised information processing policy Monday. The move came five days after the Personal Information Protection Commission revealed that DeepSeek transferred Korean users' personal information to three companies in China and one in the United States without obtaining their consent and disclosing the transf

April 28, 2025

Seoul shares open higher on retail buying

South Korean stocks opened a tad higher Monday as investors continued to navigate the path of the Donald Trump administration's tariff scheme. The benchmark Korea Composite Stock Price Index rose 5.93 points, or 0.23 percent, to 2,552.23 in the first 15 minutes of trading. Retail investors bought shares, offsetting selling by foreigners and institutions. US shares rose on Friday on tech gains. The Dow Jones Industrial Average edged up 0.05 percent, and the tech-heavy Nasdaq composite jumped 1.26

April 28, 2025

Samsung SDI to promote ESS battery products in Europe

Samsung SDI Co., South Korea's second-largest battery maker, said Monday it will promote its latest energy storage system battery products at a major European battery exhibition next month. Samsung SDI will take part in InterBattery Europe 2025, one of the key exhibitions under The Smarter E Europe -- the continent's largest energy industry event -- set to take place in Germany from May 7-9, the company said in a press release. At this year's show, the company plans to introduce a variety of nex

April 28, 2025

ABS issuance drops in Q1 on decline in mortgage-backed securities

The issuance of asset-based securities in South Korea fell markedly in the first quarter due to a sharp decline in the issuance of mortgage-backed securities, data showed Monday. The ABSs issued last year came to 8.3 trillion won ($5.77 billion) in the January-March, down 43.8 percent, or 6.5 trillion won, from a year earlier, according to the data from the Financial Supervisory Service. ABS refers to securities based on such assets as mortgages, auto loans, credit card receivables and student l

April 28, 2025

Four major banking groups post record Q1 earnings

South Korea’s four largest banking groups reported record-high combined earnings in the first quarter, approaching 5 trillion won ($3.48 billion) despite a broader economic slowdown and declining interest rates. Shinhan Financial Group on Friday posted a net profit of 1.49 trillion won for the January-March period, up 12.6 percent from a year earlier and marking its highest-ever first-quarter result. “Despite heightened economic volatility at home and abroad, we delivered solid results on the ba

April 28, 2025

Posco teams up with builders to boost cement performance, cut waste

Korea’s steelmaking giant Posco Group is partnering with the domestic construction industry to explore the use of its steelmaking byproduct in enhancing cement quality, the company announced Friday. Posco signed a joint agreement with five Korean construction firms, including GS Engineering & Construction, as well as seven cement and ready-mixed concrete producers, on April 11 in Seoul. Academic institutions such as the Korea Concrete Institute and Posco's research unit, the Research Institute o

April 28, 2025