South Korea Finance & Banking

Coupang Eats Expands Heat Wave Support for Delivery Partners

Coupang Eats Service is expanding heat wave support for delivery partners, including cooling shelters, water, sports drinks, and safety guidance, in p...

Daiso's Online-Offline Growth Drives Record Monthly Payments

Daiso achieved record monthly credit card payments of 247.6 billion won in May, with online app users up 30% year-on-year, strengthening its omnichann...

Pan Ocean Wins 20-Year Crude Oil Transport Deal With SK Worth 2.47 Trillion Won

Pan Ocean signed a 20-year crude oil transport contract with SK Energy and SK Incheon Petrochemical worth 2.47 trillion won, deploying four VLCCs orde...

Apple, Google Eye Chinese Memory; Samsung, SK Unfazed

One Cup Sold Every Second: Summer Menus Spark Cafe Craze in Korea

Korea's cafe franchises launch summer menus with seasonal fruits and carbonation. Mega MGC Coffee sold 2.8 million watermelon drinks in 50 days—one cu...

Shinsegae Renews Jewelry Hall at Gangnam Flagship Store

Shinsegae Department Store has reopened the jewelry hall on the first floor of its Gangnam store, doubling the space to feature 17 brands, including 1...

Why Young Koreans' Wallets Run Empty: Expert Points to Overspending

Author Kim Kyung-pil explains why young Koreans struggle to save, pointing to everyday overspending and speculative FOMO investing, and advises buildi...

Hong Kong Dessert Yangzhi Ganlu Emerges as Korea's Next Sweet Craze

Yangzhi Ganlu, a Hong Kong summer dessert with mango, grapefruit and sago, is emerging as Korea's next sweet craze as convenience stores and cafes inc...

Korea to Boost Egg Imports as Prices Climb

Korea's agriculture ministry will boost fresh egg imports from the U.S. and Thailand to curb soaring prices, supplying 21.12 million eggs through next...

AI City Rises on Haenam Plains as Solaseado Becomes Green Transition Hub

Solaseado in Haenam is becoming a hub for Korea's green transition, combining AI data centers and renewable energy, with a National AI Computing Cente...

Korean Design Brands Bring 'A Day in Korea' to Europe

Korean design brands Ilkwang Bulb, Rareraw, and Flat Point held a joint exhibition titled "Portrait of Korean Living" at Copenhagen's 3daysofdesign, N...

Convenience Stores Score Another World Cup Boom on Mexico Match

Korean convenience stores CU, GS25 and Emart24 enjoyed a World Cup windfall during the Mexico match, with non-alcoholic beer, ice cups and bottled wat...

Korean Air Revamps Incheon, New York Cargo Terminals to Maximize Chip Boom

Korean Air is renovating its Incheon and New York JFK cargo terminals by 2026 to boost capacity 25% and capture semiconductor demand, ahead of its Dec...

Last-Minute Hotel Booking Saves 44%, Hotels.com Finds

Hotels.com's 2026 Hotel Price Index finds last-minute bookings a week before departure are 44% cheaper than booking four months ahead, with Southeast ...

Young Koreans Cut Spending Yet Sink Deeper Into Debt

Koreans in their 20s and 30s have cut spending sharply, but rising interest and housing costs are driving them deeper into debt, with record individua...

Lee Jae-myung Government's First Public Institution Review: AI Adoption Reshapes Scorecards

In the Lee Jae-myung government's first public institution evaluation, 15 institutions earned A grades on AI innovation and safety, while Intel and Te...

Intel Hires Former SK hynix CEO Lee Seok-hee to Lead Foundry

Intel has hired former SK hynix CEO Lee Seok-hee as senior vice president of its foundry division, as Tesla, Micron, and Lam Research aggressively rec...

View and Manage All Subscriptions at Once: New Service Launches in September

The Korean government will mandate disclosure of studio and officetel management fees and launch a subscription management service in September. The w...

Even as Middle East War Ends, Dollar Stays Strong

The dollar index soared to 101.08, a one-year-plus high, even as the Middle East war ends, while Samsung Electronics and SK hynix made up 45.6% of KOS...

AI Takes Over Broadcasting: SOOP Develops AI Streamers

SOOP is developing a Large Video Model to create AI streamers from 5 billion annual communication data points, while Jusung's IPO drew a 2,784-to-1 su...

Chip Talent War Heats Up; Salaries Reach 400 Million Won

Korean chip engineers emerge as global strategic assets as Nvidia offers up to $258,800 to HBM talent and Intel hires former SK hynix CEO, while Intel...

Lunchflation Drives Boom in Ready Meals, Buffets and Burgers

As lunchflation soars in Korea, demand is shifting to home meal replacements, low-cost burger franchises and mid-priced buffets, while conventional re...

Hanwha to Build Mega LNG Infrastructure in Canada in Final Push for 60 Trillion Won Submarine Deal

Hanwha Ocean joins a $15.7 billion FLNG project in Canada, boosting its economic contribution ahead of the 60 trillion won Canadian submarine deal dec...

Hanwha Aerospace Slips for Second Session; Brokerage Sees 1.78 Million Won

Hanwha Aerospace fell for a second session to the 1.1 million won range, but Hyundai Motor Securities set a 1.78 million won target, citing order mome...

All 8 Provincial Subscriptions Fall Short as Seoul Hits 153-to-1

Seoul's apartment subscription competition rate hit 153-to-1 in May, 24.3 times the national average, while all 8 provincial complexes failed first-pr...

Who Drinks to Get Drunk? 7 in 10 Korean Students Prefer the Vibe

A survey of 500 Korean university students finds 74% see drinking gatherings as social occasions, not a way to get drunk. Soju and Cass top brand pref...

Hana Bank Teams Up With Lotte E&C, KODIT to Provide 120 Billion Won to SMEs

Hana Bank signed a tripartite agreement with Lotte E&C and KODIT to provide up to 120 billion won in guaranteed loans to about 2,000 partner SMEs faci...

Sunyang's 'Oak Somaek,' Soju and Beer in One Can, Named Hanwha Eagles Cheer Drink

Sunyang Soju Chairman Cho Woong-rae Throws Ceremonial First Pitch

Chinese Tourists Flock to Korea for K-Beauty Makeovers, Not Plastic Surgery

Young Chinese tourists are flocking to Korea for K-beauty experiences like personal color diagnosis, hair styling, and ID photos, shifting away from p...

Hidden Welfare Subsidies via Tax Breaks Hit 39 Trillion Won, Need Redesign

Korea's welfare spending through tax breaks hit 39.2 trillion won in 2025, nearly quadrupling in 15 years and outpacing fiscal spending growth, prompt...

Korean Air Sees Asiana Integration Costs Up to 1 Trillion Won, Offset by 2029

Korean Air estimates integration costs with Asiana Airlines at up to 1 trillion won, with annual synergies of 300 billion won expected to offset costs...

Dollar Surges Despite Middle East War's End, Defying Rate-Hike Cures

The U.S. dollar is surging despite the Middle East war's end, with the Dollar Index hitting a 1-year high as a hawkish Fed, AI investment flows and U....

Hyundai Motor Group Acquires SoftBank's 9.6% Stake in Boston Dynamics

Hyundai Motor Group is acquiring SoftBank's 9.6% stake in Boston Dynamics for around 500 billion won, making the robotics firm a wholly owned subsidia...

Merged Korean Air Expands High-Value Cargo to Fuel Growth

Korean Air is expanding its high-value cargo business, renovating Incheon Airport's Cargo Terminal 1 by September to boost throughput 25% and upgradin...

Global Tech Giants Target Korea's Chip Veterans as Samsung, SK Battle to Retain Talent

KB's Korea Value-Up Covered Call ETF Returns Over 99% This Year

Korea to Recommend Dismissing Heads of Pension Fund, KOICA Over Poor Reviews

Korea's finance ministry will recommend dismissing the heads of the Government Employees Pension Service and KOICA after both received the lowest grad...

Former SK hynix CEO Joins Intel as Big Tech Courts Korean Talent

Korea to Launch One-Stop Subscription Tracker in September

Korea will launch a one-stop service in September to view and manage OTT, music and other subscriptions, while tightening sanctions on dark patterns t...

Korea Producer Prices Rise 0.8% in May, Ninth Straight Monthly Gain

South Korea's producer prices rose 0.8% in May, marking a ninth straight monthly gain. Year-on-year, prices climbed 8.5%, the biggest jump in 46 month...

KB Conducts On-Site Audit of Bithumb as Crypto Exchange Re-Contract Season Heats Up

KB Kookmin Bank audits Bithumb ahead of real-name account contract expiry, while Kakao Bank-Coinone and Shinhan-Korbit renewals look likely. Upbit-K b...

KEPCO, KHNP, K-Sure Earn Top Grades as AI, Safety, Finance Decide Scores

Korea's 2025 public institution evaluation, the first under the Lee Jae-myung government, rated 15 institutions excellent for AI and safety while KOIC...

Lotte Targets Chip Materials with Japanese Partner, Breaks Ground on Plant

Handok Chemicals, a Korea-Japan joint venture between Lotte and Tokuyama, broke ground on a 130 billion won semiconductor developer plant in Pyeongtae...

Hyundai Rotem Wins 748.2 Billion Won Morocco Train Maintenance Deal

Hyundai Rotem won a 748.2 billion won maintenance contract for electric trains in Morocco, its largest overseas rail maintenance deal, covering 440 ca...

JoongAng Ilbo Defaults on 22 Billion Won in Commercial Paper

JoongAng Ilbo has been declared in final default after failing to repay 22 billion won in commercial paper, and has filed for a workout with main cred...

Dollar Surges on Fed Hawkish Shift; Won Closes at 1,527 After Nearing 1,540

The won-dollar rate closed at 1,527.0 won Thursday after nearing 1,540 during the session, as the Fed's hawkish shift drove dollar strength and the DX...

Sungkyunkwan Professor Park Yeon-hee Wins Boryung Cancer Academic Award

Sungkyunkwan University professor Park Yeon-hee won the 25th Boryung Cancer Academic Award for her contributions to breast cancer precision medicine r...

Oland Bio Develops Hybrid Scaffold to Regenerate Damaged Kidney Function

Oland Bio developed a bioinstructive hybrid scaffold that regenerates damaged kidney tissue, confirming improved kidney function in chronic kidney dis...

DB Savings Bank Raises 'Dream Big' Deposit Rate to 3%

DB Savings Bank raised its Dream Big instant-access deposit rate to a maximum 3.0% for balances up to 70 million won, as Daol Savings Bank also lifted...

Czech Lager Budvar Now Available for Tasting in Korea

M's Beverage, the official Korean importer of Czech beer brand Budvar, is holding tasting events at 55 major discount stores nationwide, featuring Bud...

Czech Lager Budvar Now Available for Tasting in Korea

Budvar, the Czech beer brand, is now available for tasting at 55 major discount store locations across Korea, featuring Budvar Original and Budvar Dar...

Woori Financial Pledges 3 Billion Won for Fallen Soldiers, Families

Woori Financial Group signed a "Woori Hero" partnership with Korea's Defense Ministry, pledging 3 billion won over three years to support fallen soldi...

Korea Financial Telecommunications Files Patent for Won Stablecoin Verification System

Korea Financial Telecommunications (KFTC) filed a patent for a system to verify stablecoin issuers' reserve assets, preparing for won stablecoin regul...

Korea Recommends Dismissal of Two Agency Heads Rated 'Very Poor'

Korea will recommend dismissing the heads of the Government Employees Pension Service and KOICA after they received "very poor" ratings in the 2025 pu...

Intel Eyes HBM Tie-Up With SK hynix Through Lee Seok-hee Hire

Intel hired former SK hynix CEO Lee Seok-hee as foundry EVP, fueling expectations of HBM cooperation with SK hynix and posing a new variable for Samsu...

Korean Insurers' Solvency Ratio Rises for Fourth Straight Quarter

Korean insurers' solvency ratio (K-ICS) rose for a fourth straight quarter to 216.1% at the end of March, up 3.8 percentage points, driven by rising s...

Meritz Targets MBK Again Over Homeplus Guarantee Refusal

Meritz Financial Group escalated criticism of MBK Partners, saying it earned over 1 trillion won in profit and 1.2 trillion won in fees from Homeplus ...

Hyungji Elite Holds In-House Cheering Event for World Cup

Hyungji Elite held an in-house cheering event during the South Korea-Mexico match at the 2026 World Cup, with about 250 employees from group affiliate...

SK hynix Joins HPE Discover 2026, Strengthens AI Server Alliance

SK hynix attended HPE Discover Las Vegas 2026, showcasing HBM, server DRAM, eSSD, and CXL memory products to strengthen its strategic partnership with...

NH Nonghyup to Pay 15.4 Billion Won to Onion Farmers Hit by Price Crash

NH Nonghyup Property & Casualty Insurance will pay 15.4 billion won to 950 onion farms after early-variety onion prices plunged about 58% from the ben...

Kinoton Marks 20th Anniversary, Vows to Become Global Content Firm

Kinoton marked its 20th anniversary by unveiling a vision to become a global digital media content company, expanding into content IP while pursuing a...

NH NongHyup Bank Opens 'NH Dream Bank' Pop-Up in Seongsu-dong

NH NongHyup Bank opens "NH Dream Bank" pop-up in Seongsu-dong through next month, featuring Kian84-designed cards, a Napoli Matfia cafe, and charity d...