South Korea's central bank is again facing pressure to deliver more interest rate cuts to shield Asia's fourth-largest economy from the fast spread of the new coronavirus that may already be undermining its consumption and exports.The Bank of Korea (BOK) had widely been anticipated to stand pat on i
Samsung Electronics Co. is set to unveil its new flagship and foldable smartphones this week as the South Korean tech giant aims to better target the premium mobile phone market.Samsung will introduce its new flagship smartphone, supposedly named the Galaxy S20, and a clamshell-like folding phone, e
SK Lubricants Co., an affiliate of refiner SK Innovation Co., said Sunday it has made a stake investment in a Vietnamese lubricants company for an expansion into Asian markets.SK Lubricants signed a deal to acquire a 49 percent stake in Mekong, Vietnam's biggest lubricants company, on Friday to stre
The outbreak of the new coronavirus will likely have a limited impact on South Korea's 5G network equipment vendors, analyst here said Saturday, since they have little business presence in virus-hit China.As China struggles to contain the spread of the deadly virus, which has killed more than 600 pe
President Moon Jae-in on Thursday welcomed a job creation project at an electric car cluster in Busan, calling it good news for the country that is struggling to combat a new coronavirus outbreak."While we are in an emergency situation due to the new coronavirus, sustaining and nurturing economic vi
KT Corp., South Korea's major telecommunication firm, said Thursday its net profit dived 12.2 percent last year from a year earlier as it ramped up spending on its network and marketing.In a regulatory filing, KT reported a net income of 669.3 billion won (US$ 565.7 million) last year, down from 762
The spread of coronavirus in China is likely to push up prices of semiconductors and display panels, analysts said Wednesday, amid possible supply chain disruptions of key industrial materials.China, where the outbreak originated, is home to manufacturing facilities of many of South Korea's major te
LG Electronics Inc. said Wednesday it has decided to withdraw from the upcoming mobile technologies trade fair due to concerns over the fast-spreading novel coronavirus.LG said it will not take part in the Mobile World Congress (MWC) 2020 in Spain, becoming the first South Korean company to cancel i
Ministry of Trade, Industry, and Energy (MOTIE) said today that it will exempt local producers of masks and sanitary products from the 52-hour workweek restriction, as such companies are experiencing an unexpected surge in their workloads amid the fast-spreading new coronavirus.In July 2018, South K
Daewoo Engineering & Construction Co., a major South Korean builder, said on Feb. 3, 2020 that it is pushing for a US$388 million project to build two high-rise buildings in Vietnam.The company is set to break ground for the two 35-story buildings, including two underground floors, in Starlake City
Korean Air Lines and other airlines in Korea said Monday that they will cut or suspend more flights to China amid mounting fears over the novel coronavirus.Korean Air Lines, Korea's national flag carrier, said it that will additionally reduce services on nine Chinese routes between Feb. 7 and 22. Th
LG Chem Ltd., South Korea's leading chemicals firm, said Monday that it swung to a loss in the fourth quarter from a year earlier due to one-off costs related to energy storage systems (ESS).The net loss stood at 56.8 billion won (US$47.5 million) in the three months that ended Dec. 31 from a net pr
TrendForce said overall production of memory chips, such as DRAM and NAND flash, is likely to remain unaffected by the deadly virus in the short term as global chipmakers' plants, including those run by South Korea's Samsung Electronics Co. and SK hynix inc., are operating as usual.The Chinese city
Hyundai Motor Co., Korea's top automaker, and its sister Kia Motors Corp. said Tuesday they have suspended assembly lines here due to shortages of parts from China amid the spreading coronavirus outbreak.Hyundai Motor halted the assembly lines for the production of the carmaker's independent brand G
South Korea's financial authorities said Tuesday that they are working on a plan to provide emergency liquidity to smaller firms and self-employed people hit hard by a new coronavirus.The plan includes extension the maturity of debts and provision of fresh loans to eligible smaller firms and self-em
Hyundai Motor Co. said Monday it will inevitably suspend some vehicle assembly lines at its domestic plants due to shortages of Chinese-made auto parts in light of the spreading coronavirus outbreak.Vice President Ha Eon-tae, head of the main plant in Ulsan, said that it is inevitable that the compa
Global memory chip production appears to be unaffected by the outbreak of the novel coronavirus in China, a market researcher said Monday, as no chip manufacturing facilities in the virus-hit country have so far closed or suspended operations.TrendForce said overall production of memory chips, such
Samsung Heavy Industries Co., a major shipyard in South Korea, said Monday that its net losses widened in the fourth quarter from a year earlier due to one-off costs.Net losses for the October-December period deepened to 124.2 billion won (US$104 million) from 105.7 billion won a year earlier, the c
Daewoo Engineering & Construction Co., a major South Korean builder, said Monday that it is pushing for a US$388 million project to build two high-rise buildings in Vietnam.The company is set to break ground for the two 35-story buildings, including two underground floors, in Starlake City in Hanoi
Hyundai Motor Co., South Korea's biggest carmaker, said Monday it will supply 1,000 Sonata taxis to a Saudi Arabian airport this year.Hyundai has signed a supply deal with Al-Safwa, one of Saudi Arabia's major transportation companies, to provide 1,000 Sonata sedans as taxis for operation at King Kh