Samsung to support foreign language speaking test fees for DX division employees

Samsung Electronics Co. will support the cost of foreign language speaking proficiency exams for employees in its Device Experience division, a move aimed at strengthening the company's global competencies, industry sources said Thursday. According to the sources, the company announced this week that it will reimburse test fees for up to two language exams per year for all employees in the division, covering tests for foreign languages, including English, Vietnamese, Russian, Spanish, Chinese an

May 1, 2025

S. Korea designates Yeosu as 'industrial crisis response area' to support petrochemical firms

South Korea has designated the southwestern city of Yeosu as an "industrial crisis response area" to help the ailing regional economy amid a slump in the petrochemical industry based in the area, the finance minister said Thursday. Finance Minister Choi Sang-mok made the announcement in an economy-related ministers meeting, vowing efforts to support petrochemical companies in the city located 315 kilometers south of Seoul, boost investment and restore the job market there. The government plans t

May 1, 2025

S. Korea's exports rise 3.7% in April; shipments to US down 6.8%

South Korea's exports gained 3.7 percent from a year earlier in April, marking a third consecutive month of increase, while outbound shipments to the United States dropped sharply on the Donald Trump administration's hefty tariffs, data showed Thursday. Outbound shipments came to $58.2 billion last month, according to data compiled by the Ministry of Trade, Industry and Energy. Imports dropped 2.7 percent on-year to $53.3 billion, resulting in a trade surplus of $4.88 billion. Exports to the US

May 1, 2025

[Contribution] Avoid penalties, claim benefits: How NTS supports foreign taxpayers

By Choi Jae-bong There is a world-renowned football player whose exceptional positioning and goal-scoring prowess have earned him many fans here in Korea. This player, Cristiano Ronaldo, while playing in Spain as a foreign athlete, once drew international media attention not only for his athletic brilliance but also for his tax troubles. He established a shell company in the low-tax jurisdiction of the British Virgin Islands and funneled his advertising income through this entity, significantly

May 1, 2025

Trump says he heard Samsung will build 'massive' production facilities in US

US President Donald Trump said Wednesday he heard that South Korean conglomerate Samsung Electronics Co. will construct "massive" facilities in the United States because of his tariffs, as he enumerated his policy achievements made during his first 100 days in office. Trump made the remarks during a Cabinet meeting, as he defended his tariff policy following a Commerce Department report that US gross domestic product fell at an annual rate of 0.3 percent in the first three months of the year. "I

May 1, 2025

French-Korean Career Forum returns, connecting language and careers

The French-Korean Chamber of Commerce and Industry, the third-largest foreign chamber in Korea, announced Wednesday that it will be hosting the 2025 edition of its annual French-Korean Career Forum on May 15 in Seoul. Organized in collaboration with the Cultural Service of the French Embassy in South Korea, the Korea Chamber of Commerce and Industry and partners such as CCIP and France Alumni, the event highlights the role of the French language in shaping global careers. Open to students, gradu

April 30, 2025

Seoul shares snap 3-day rise on chip, battery losses

Seoul shares closed lower Wednesday, led by a slump in tech, auto and battery stocks, as Samsung Electronics reported a sluggish semiconductor business performance in its first-quarter earnings. The Korean won surged against the US dollar. The benchmark Korea Composite Stock Price Index dropped 8.81 points, or 0.34 percent, to close at 2,556.61. Trade volume was moderate at 480 million shares worth 8.33 trillion won (US$5.86 billion), with losers outnumbering gainers 547 to 345. Institutions and

April 30, 2025

Samsung Electronics beats Q1 estimates, but chip woes persist

Samsung Electronics on Wednesday reported a stronger-than-expected earnings for the first quarter, buoyed by robust sales of its AI-enhanced Galaxy S25 smartphones, even as its key chip division continues to tumble. For the January-March period, the tech giant posted an operating profit of 6.69 trillion won ($4.69 billion), up 1.2 percent from a year earlier. The figure exceeded analysts' expectations, which had hovered in the 5 trillion-won range. Revenue for the quarter came to 79.14 trillion

April 30, 2025

Buying apartment in Seoul now takes 24 years of full-salary saving

Buying an apartment in Seoul has become increasingly out of reach for average workers, with average home prices soaring past 1.3 billion won for the first time, according to latest data. KB Kookmin Bank’s monthly real estate report, released Monday, showed that the average price of apartments in Seoul reached 1.3 billion won ($913,500) in April, marking a 0.98 percent increase from the previous month. That figure is 2.5 times the national average of 522 million won. Experts suggest that rising c

April 30, 2025

Hyundai E&C recognized as No. 1 overseas builder with $140b milestone

Hyundai Engineering & Construction announced Wednesday that it received the highest honor in overseas construction from the Korean government, recognizing its cumulative overseas orders exceeding $140 billion. The award was presented at a ceremony celebrating the landmark achievement of $1 trillion in total overseas construction contracts secured by Korean companies. Hosted by the International Contractors Association of Korea and sponsored by the Ministry of Land, Infrastructure and Transport,

April 30, 2025

SK Telecom scrambles to restore trust after massive data breach

South Korea’s leading mobile carrier SK Telecom is facing mounting fallout from a recent hacking incident, with more than 70,000 users switching to rival providers in just two days after the company began offering free USIM card replacements. Amid growing concerns that the data breach could spill over into the financial sector, South Korean financial authorities on Wednesday launched an emergency response team and tightened security protocols. According to industry sources, 35,902 SK Telecom use

April 30, 2025

Jaguar Land Rover rolls out trust-driven overhaul in Korea

Jaguar Land Rover, British premium car manufacturer, announced the introduction of a new customer care initiative in Korea that aims to address long-standing concerns over consumer trust, which has been a key obstacle to the brand’s growth here. The One Strategy initiative is "designed to redefine what a premium ownership experience means in Korea,” said Robin Colgan, managing director of JLR Korea, during a media conference held Wednesday in Seoul. The strategy includes extending warranty cover

April 30, 2025

JD.com brings logistics power to Korea in bid to rival Coupang

As Chinese e-commerce players contend for market share in neighboring South Korea — an apparent hedge against tightening access to the US — JD.com has entered the fray, armed with its own logistics network. JD.com, one of China’s leading e-commerce platforms alongside AliExpress and Temu, sets itself apart with a direct-purchase model in contrast to the open-market approach favored by its peers. Last week, JD Logistics, the supply chain arm of JD.com, opened two self-operated logistics centers i

April 30, 2025

Trump Jr. taps Korean tycoons in Seoul visit

Donald Trump Jr., the eldest son of US President Donald Trump, held a series of closed-door meetings with around 20 business leaders from Korean conglomerates on Wednesday, during a private visit at the invitation of Shinsegae Group Chairman Chung Yong-jin. According to industry sources, Trump Jr. met with business figures including Hanwha Group Vice Chairman Kim Dong-kwan, Hanwha Life President Kim Dong-won, Hanwha Hotels & Resorts Vice President Kim Dong-seon, Lotte Corp. Executive Vice Presid

April 30, 2025

Hanwha Ocean bids for Poland’s Orka submarine program

South Korean shipbuilding giant Hanwha Ocean announced Wednesday that it is making a strong push to win Poland’s Orka submarine project, a key naval modernization program worth approximately 8 trillion won ($5.6 billion). Hanwha Ocean will participate in the Defense24 Days conference in Warsaw, Poland from May 6 to 7, alongside affiliates Hanwha Aerospace in Europe and Hanwha Systems, to showcase its competitive edge. At the center of Hanwha Ocean’s proposal is the delivery of three next-generat

April 30, 2025