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On April 26, Lee met with top executives of the German optics manufacturer Zeiss, a crucial partner for the Korean tech giant's push to lead the burgeoning market for artificial intelligence chips. He toured the Zeiss headquarters in Oberkochen and also discussed long-term partnership with Zeiss G...
Korea’s new state space agency, the Korea AeroSpace Administration, or KASA, will focus on rearranging roles with the private sector to support companies to lead commercial space developments while the government concentrates on long-term space projects, the nominee for the top leadership position...
South Korea's inflation fell to the 2 percent range as the country’s directive to lower price growth goes down a “bumpy” path on fluctuations in the oil and agricultural prices, data showed Thursday. Consumer prices, a key metric of inflation, rose by 2.9 percent in April, marking a 0.2 percent...
Mirae Asset Global Investments announced Thursday that its Canadian exchange-traded fund subsidiary, Horizons ETFs, is rebranded as Global X Canada, aligning with an integrative strategy of its global ETF offerings under the unified brand, Global X. Since being acquired by Mirae Asset Global Inves...
The Paris Agreement, an international treaty on climate change, calls for limiting the global temperature increase to 1.5 degrees Celsius above pre-industrial levels, stressing that emissions need to be reduced by 45 percent by 2030 and reach net zero by 2050. Nobuo Tanaka, former executive direct...
Korea’s stock market is set to enter a new phase with the upcoming launch of the first alternative trading system for the Korea Exchange, the nation’s sole bourse operator that has enjoyed almost 70 years of monopoly. Nextrade, a consortium of 34 securities and tech firms established in November...
South Korea's exports increased for seven straight months, jumping 13.8 percent in April on strong chip demand and record-high automobile sales. Exports to the US, in particular, reached an all-time high, further widening the gap with China, the country's second-largest export destination. Outbou...
More than 250 startup companies have joined KB Financial Group’s accelerator program over the past 10 years to scale up businesses into unicorns in the fintech industry. KB Financial Group held an event on Tuesday marking the 10th anniversary of the KB Innovation HUB Center, the first organizatio...
Korean banking groups maintained solid capital adequacy despite significant payouts for consumer compensation due to misselling equity-linked securities tracking a Hong Kong index. Industry sources reported that the average capital adequacy ratio, or Common Equity Tier 1, among five major Korean f...
The Ministry of Agriculture, Food and Rural Affairs on Tuesday launched a special commission dedicated to ending dog meat consumption in the country by 2027. Earlier on Jan. 22, the ministry had introduced a task force to iron out the details of implementing a government plan to end the practice, ...
Korean banks may face diminishing profitability due to mounting pressure to take on social responsibilities amid the country's slowing economic growth, a senior official at global credit appraiser Fitch Ratings said. Commercial banks, often criticized for making money from excessively high interes...
MBK Partners Chairman Michael ByungJu Kim has recently donated $25 million to his undergraduate alma mater, Haverford College, according to the asset manager's announcement on Monday. The $25 million donation, the largest amount in the school's history, was made on April 23. It will fund the estab...
The competition to acquire Lotte Insurance, South Korea's seventh-largest nonlife insurer, is intensifying, with Woori Financial Group recently joining the race. Woori Financial Group's Chief Financial Official Lee Sung-wook stated Friday that the company is reviewing the acquisition of the insure...
Korea’s top finance firms -- KB, Shinhan, Hana, Woori and NongHhyup -- have set aside a total of nearly 1.7 trillion won ($1.2 billion) in reserve for the compensation of losses related to the misselling of equity-linked securities products tracking the Hang Seng China Enterprises Index in Hong Ko...
The report also highlights that the total assets of wealthy individuals shrunk from an average of 7 billion won to 6 billion won during the COVID-19 pandemic, primarily due to falling real estate and stock prices. As of the end of last year, real estate accounted for 50 percent of the wealthy's to...
Samsung chief returns from Europe after meeting with Pope, business leaders
Hugel to develop next-generation botulinum toxin product
B-Robotics teams up with Hanwha Robotics for restaurant automation
Samsung Life Science Fund invests in US gene therapy firm
Hyundai Motor aims to lead hydrogen truck business in US
KASA chief vows full support for private-led space missions