South Korea and Kazakhstan agreed to forge deeper economic ties, especially in the field of energy, in line with Seoul's efforts to expand cooperation with new partners in Central Asia, the industry ministry said Friday.During a recent bilateral meeting in Nur-Sultan, the two countries shared id
Local activist hedge fund Korea Corporate Governance Improvement (KCGI) has become the No. 2 shareholder of the holding company of South Korean construction conglomerate Daelim Group, industry sources said Friday.The KCGI fund bought 32.6 percent of Daelim Corp. from the UniKorea Foundation for 120
SK Innovation Co., South Korea's leading refiner, said Friday it will sell all of its stakes in two Peruvian gas fields for 1.25 trillion won (US$1.05 billion).SK Innovation said its board of directors approved the plan to sell its 17.6 percent stakes in two Peruvian gas fields -- Block 88 and B
SK Group, an energy-to-telecom focused conglomerate, plans to invest US$10 billion over the next three years in the United States, the group's chief has said, as it seeks to expand its presence in the world's largest economy.SK Group Chairman Chey Tae-won made the remarks during a corporate
Hyundai Heavy Industries Group, South Korea's top shipbuilding conglomerate, has been given a US$47 million fine by the U.S. authorities for selling engines that violated environmental rules in the country.The U.S. Department of Justice and the U.S. Environmental Protection Agency (EPA) said Thu
South Korea's cathode material producers are likely to see solid earnings in the fourth quarter of the year on a surge in nickel and cobalt prices, analysts here said Saturday, amid growing demand for electric vehicle (EV) batteries.Nickel and cobalt are key raw materials for cathodes, one of th
Samsung Electronics Co.'s share price rallied this month on hopes for a recovery in the memory chip market and earnings in upcoming quarters.Shares of Samsung Electronics, the top market cap on South Korea's stock market, closed at 49,150 won (US$41.2) on Thursday, up 3.04 percent from the p
South Korea officially removed Japan from its list of trusted trade partners on Wednesday, upping the stakes in the two countries' high-profile trade row, which largely stems from their shared history.Under the new classification scheme, Seoul's trade ministry regroups its trading partners i
South Korea on Tuesday reported its first confirmed case of African swine fever at a farm near the heavily fortified border with North Korea.The animal disease was confirmed earlier in the day at a farm in Paju, just south of the inter-Korean border, the agriculture ministry said. The
Samsung Electronics Vice Chairman Lee Jae-yong visited a metro construction site in Saudi Arabia on Sunday to check on the project's latest progress, his company said.Lee visited Samsung C&T Corp.'s metro construction site in Riyadh on his first trip for the subsidiary's overseas project
SK Innovation Co., a major electric vehicle (EV) battery maker in South Korea, said Friday it will file lawsuits against its local rival LG Chem Ltd. and LG Electronics Inc. in the United States for patent infringement over EV battery technology. SK Innovation said it plans to file la
South Korea's industrial output rose 1.2 percent in July from a month earlier due to increased auto output and facility investment, government data showed Friday.The data compiled by Statistics Korea showed the production in the mining, manufacturing, gas and electricity industries also went up
Investment by South Korea's major conglomerates plunged 23 percent on-year in the first half of the year due mainly to flagging chip and display businesses, a corporate tracker said Wednesday.Investment by 353 subsidiaries of 59 business groups totaled 36.9 trillion won (US$30.4 billion) in the
South Korea's major refiners may see their earnings continue to slide in the current quarter due largely to weakened cracking margins, sliding oil prices and the Korean won's weakness, analysts here said Tuesday.South Korea's top four refiners -- SK Innovation Co., GS Caltex Corp., S-Oil
South Korea's tax-to-gross domestic product (GDP) ratio reached nearly 27 percent in 2018, but it was lower than that for other major economies, a report showed Monday.The country's tax-to-GDP ratio came to 26.8 percent last year, up 1.4 percentage points from the prior year, according to th
South Korea signed a free trade agreement (FTA) with Britain on Thursday, a step to help maintain the continuity of their trade and economic ties even after London's departure from the European Union (EU).There have been concerns that South Korean exporters may no longer enjoy the benefits under
Hyundai Motor Co.'s three SUV models have earned the highest safety rating issued by the U.S. National Highway Traffic Safety Administration (NHTSA), the company said Thursday.Hyundai's 2020 Kona subcompact, Tucson compact and Santa Fe midsize SUVs have obtained the 5-Star Overall Safety Rat
South Korea on Monday decided to remove Japan from its trusted trading partners, upping the ante in the trade haggling sparked by the neighboring country's export restrictions against Seoul. The trade ministry said it will revamp its export list into three groups of trading partners from the cur
South Korea's two largest carmakers -- Hyundai Motor Co. and Kia Motors Corp. -- are highly likely to see their combined auto production in China come below 1 million units this year, the lowest in a decade, as they moved out of the world's largest auto market to India and others amid a prol
Lotte Shopping Co., the operator of South Korea's biggest department store and a leading discount store, said Friday it swung to the black in the second quarter from a year earlier thanks to its department store business.The key unit of retail giant Lotte Group posted a net profit of 76.9 billio