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The Korean government announced on Wednesday a policy support package totaling 1.2 trillion won ($871 million) to address damage from Tmon and WeMakePrice payment delays, with refunds for general products to be completed within the week. The measures, part of a follow-up support plan announced by ...
World Bank's new Vice President for Digital Transformation Kim Sang-bu outlined his mission to enhance the impact of digital technologies in accelerating development. "Digital technology has become a critical focus as the World Bank advances initiatives aimed at eradicating poverty," Kim said at a...
The South Korean stock market partially rebounded Tuesday from the previous day's massive rout, as bargain-hunting investors sought to profit. The benchmark Kospi stood at 2,531.91, up 90.36 points, or 3.7 percent, as of 2:30 p.m. It opened at 2,533.34, showing limited recovery, but fluctuated thr...
Customers who have yet to receive refunds after purchasing general products from e-commerce platforms Tmon and WeMakePrice due to a liquidity crisis surrounding the companies will get their money back by the end of this week, officials said Tuesday. Finance Minister and Deputy Prime Minister Choi ...
Thailand’s largest financial group SCBX has reaffirmed its commitment to the digital banking partnership with Kakao Bank despite growing legal risks surrounding Kakao Corp., the controlling shareholder of the Korean internet-only bank. "We do not foresee any changes to our current business relati...
South Korean shares dived more than 8 percent on Monday, triggering the stock exchange to temporarily halt the main Kospi and secondary Kosdaq markets, as investors were gripped by fear that the US economy may head toward a recession. A record 190 trillion won ($139 billion) was wiped off the Kosp...
SK Group Chairman Chey Tae-won called for its memory chip-maker SK hynix to seek next-generation profit models to continuously secure its leadership in the burgeoning artificial intelligence semiconductor market. “SK hynix is currently recognized in the high bandwidth memory market, but competiti...
Woori Investment & Securities, a brokerage house under Woori Financial Group, is poised to bolster its presence in investment banking, backing the potential of its group affiliates. The securities firm, formed through the merger of Woori Investment Bank and Korea Foss Securities, officially launch...
A total of eight participants — four each from Indonesia and Vietnam — were selected. Of these, four will be chosen for scholarships and offered employment opportunities at the bank's regional offices in their home countries. "Along with their understanding of the Korean language and culture, gl...
Qoo10 Group CEO Ku Young-bae could lose control over the group’s logistics arm Qxpress, as its financial investors are reportedly mulling taking over his management rights. According to a local news report Friday, a group of private equity firms, including Crescendo Equity Partners, Corstone Asia...
The South Korean government is considering stricter regulations on e-commerce platforms' involvement in financial services, aiming to avert another payment failure crisis amid ongoing investigations into cases involving Tmon and WeMakePrice. According to industry sources, local financial regulator...
South Korea's leading card firm, Shinhan Card, has strengthened its foothold in Kazakhstan's auto finance market by establishing a joint venture with the nation's top used-car seller Aster Auto. Shinhan Finance, the Kazakh unit of Shinhan Card, announced on Sunday the launch of this joint venture ...
South Korea's kimchi exports have hit a record high in the first half of this year, largely driven by increasing demand for a healthier diet and the growing popularity of Korean culture and cuisine, particularly in the US and European markets. The country exported more than 23,852 tons of kimchi i...
As the world tunes into the Paris Olympics, the Korean national team has received a boost from home -- not just in spirit, but in flavor. The Korea Agro-Fisheries & Food Trade Corp., or aT, on Friday said it had delivered an additional shipment of Korea’s beloved culinary staple kimchi to the ath...
LG Display said Friday it picked its Chinese rival CSOT as a preferred bidder for its liquid crystal display plant in Guangzhou, China. CSOT, a display-making subsidiary of China appliance giant TCL, is the world's second-largest LCD maker following its crosstown rival BOE. LG said it plans to co...
[From the Scene] How robotics reflect shift in S. Korea's food industry
Kia logs record-high operating profit for 3Q
Shinhan Financial net profit up nearly 4% in Q3
Lulumedic explores digital health collaboration with Russia
Woori Financial’s cumulative Q3 earnings increases by 9.1% on-year
Hanwha Ocean strengthens partnership with US Navy