‘Cash cow’ SK Siltron draws strong PE interest despite cyclical risks

South Korea's leading private equity firms are eyeing a controlling stake in semiconductor wafer producer SK Siltron, which has been put on the market by energy-to-chip conglomerate SK Group as part of an all-out restructuring drive. SK Inc., the group’s holding company, has reportedly expressed interest in selling its 70.6 percent stake in SK Siltron to optimize its business portfolio and address inefficiencies and financial strain. With the wafer producer’s valuation estimated at around 5 tril

April 18, 2025

Korean steel exports to US tumble 19% in first month under US tariffs

Korea’s steel exports to the United States plunged nearly 19 percent in March, the first month under a 25 percent US tariff that took effect on March 12. According to data from the Korea International Trade Association, steel shipments to the US in March fell by 18.9 percent on-year to $341 million, while exports by volume declined by 14.9 percent to 250,000 metric tons. The drop coincided with the imposition of US tariffs -- 25 percent on steel and 10 percent on aluminum -- which ended Korea’s

April 18, 2025

Alaska governor, DOE official call for stronger Korea-US LNG cooperation

The governor of Alaska signaled the state’s interest in partnering with South Korea on liquefied natural gas development and reaffirmed its commitment to long-term energy cooperation at a forum hosted by the American Chamber of Commerce in Korea on Friday. Speaking via video at the event held under the theme, “A New Era of Korea-US Cooperation in the Energy Sector,” Alaska Gov. Mike Dunleavy championed his openness to business regarding the Alaska LNG project, which could foster sustainable ener

April 18, 2025

Daewoo E&C signs framework deal for major fertilizer plant in Turkmenistan

Daewoo Engineering & Construction has signed a framework agreement with Turkmenhimiya, Turkmenistan’s state-owned chemical company, for the construction of a mineral fertilizer plant, the company said Friday. The agreement, signed at a ceremony in Seoul, represents a significant milestone toward finalizing the contract, following Daewoo's selection as the preferred bidder in October 2023. The signing event was attended by Daewoo E&C CEO Kim Bo-hyun, Turkmenhimiya Chairman Dovrangeldi Sapbayev as

April 18, 2025

Daewoong expands type-2 diabetes treatment Envlo to Latin America, Russian markets

Daewoong Pharmaceutical said Friday that it has submitted regulatory applications for its type 2 diabetes medication Envlo (enavogliflozin) in seven countries, including six in Latin America — Costa Rica, Honduras, the Dominican Republic, Panama, El Salvador and Guatemala — as well as Russia and the other members of the Commonwealth of Independent States. Envlo is Korea’s first domestically developed SGLT-2 (sodium-glucose co-transporter 2) inhibitor, a class of drugs that lowers blood sugar by

April 18, 2025

Naver signs licensing deal with Universal Music to elevate creators’ content

Naver said Friday it has signed a music licensing agreement with Universal Music Group, the world’s largest record label, allowing creators on its short-form video platform Clip to use a vast library of global music in their videos. Through the agreement, Clip creators will have access to over 2.1 million tracks from top international artists including The Beatles, Taylor Swift and Billie Eilish. The latest deal builds on Naver’s efforts to expand its music offerings, following the addition of a

April 18, 2025

JB Financial chief buys W200m in treasury shares

Kim Ki-hong, chair and CEO of JB Financial Group, has purchased an additional 200 million won ($141,000) worth of treasury shares as part of ongoing efforts to enhance corporate value and shareholder returns. According to a recent regulatory filing with the Financial Supervisory Service, Kim acquired 12,127 shares on the open market on April 9 at 16,542 won per share. The latest purchase raises Kim’s total holdings to 160,000 shares, equivalent to 0.08 percent of JB Financial Group’s outstanding

April 17, 2025

Korean sunscreen flying off US shelves amid tariff fears

Amid the US government's tariff-fueled standoff with the rest of the world, some Americans appear to be stockpiling imported goods in anticipation of looming price hikes. Among the more unlikely items flying off the shelves are Korean-made sunscreen brands, which have quietly built a cult following in the United States. According to a report last week by The Washington Post, Korean sunscreen ranks among the most hoarded consumer goods amid tariff fears, based on data gleaned from social media po

April 17, 2025

Japan’s SBI to become Kyobo Life's second-largest shareholder

Japan’s SBI Holdings is set to increase its stake in Kyobo Life Insurance to 20 percent, becoming the second-largest shareholder of the South Korean insurer. According to industry sources Thursday, the Tokyo-based financial group is seeking to acquire an additional 11 percent stake from other financial investors, following its purchase of roughly 9 percent in March from private equity firm Affinity Equity Partners. “SBI acquired about 9.1 percent last month from Affinity and is in the process of

April 17, 2025

Amid global tensions, Korea’s arms exports hit all-time high

Korea’s defense exports surpassed $4 billion for the first time last year as the top industry leaders, namely Hanwha Aerospace, Hyundai Rotem, LIG Nex1 and Korea Aerospace Industries, enjoyed record-setting annual performances while continuing to expand their presence on the global stage amid ongoing geopolitical uncertainties worldwide. According to data from the Korea International Trade Association, the country’s weapons exports totaled $4.05 billion last year, roughly a 10-fold increase from

April 17, 2025

LG CNS makes US debut with smart poles, EV chargers

Korean IT solutions company LG CNS is expanding its global footprint with its first contracts in the US public sector through projects in New York City and Hogansville, Georgia, the company said Thursday. LG CNS signed a pilot project agreement with the New York City Economic Development Corporation to build electric vehicle chargers and a control system at the Brooklyn Army Terminal, the city’s startup hub for real-world technology testing. The company will provide an integrated solution that i

April 17, 2025

[Photo News] Hana empowers inclusive art

Hana Financial Group Chairman Ham Young-joo (center) poses with Grand Prize winners of the “Hana Artverse” contest during the awards ceremony held at Hana Bank’s headquarters in Eulji-ro, central Seoul, on Thursday. Now in its fourth year, the annual contest honors artists with developmental disabilities in celebration of South Korea’s Day of Persons with Disabilities, observed on April 20. This year’s contest drew 877 submissions, with 30 winners selected — 21 adults and nine children. “At Hana

April 17, 2025

Govt. to bolster IP protection efforts amid global tech war

The government will strengthen its cooperation with related authorities to better protect industrial technologies and intellectual properties amid fierce global competition in advanced technologies, the industry ministry said Thursday. The Ministry of Trade, Industry and Energy discussed joining hands with the Korean Intellectual Property Office to strengthen their capabilities in IP protection in a joint forum on economic security, according to ministry officials. The move comes amid a continue

April 17, 2025

Wealthy Koreans shift focus from real estate to gold, bonds and crypto

More wealthy South Koreans are eyeing diversification of their investments, seeking out safe-haven assets such as gold and bonds in their portfolios instead of real estate, a traditional investment here, research conducted by a think tank under Hana Financial Group showed. The wealthy are increasing their stake in cryptocurrency as well. The Hana Institute of Finance released the 2025 Korea Wealth Report Wednesday. This year, the online survey was conducted on 3,010 Hana Bank customers in Decemb

April 16, 2025

KT pushes for full-scale AI integration in media value chain

South Korean telecommunication giant KT announced Wednesday its plan to ramp up its artificial intelligence strategy in the media sector, including introducing a new AI agent for its internet TV platform Genie TV an AI-powered content studio. With the goal of positioning its media business as one of its three core growth pillars, the company said it will invest 500 billion won ($370 million) by 2026. “With global OTT giants rapidly dominating the content supply chain, there is growing concern th

April 16, 2025