SEOUL– Two affiliates of South Korean refining-to-semiconductors conglomerate SK Group said Monday they have invested US$250 million in U.S. nuclear reactor design firm TerraPower for joint business opportunities.Through the investment, SK Inc., the h…
SEOUL– South Korea’s traffic authority said Monday that it will launch research to map out safety instructions for personal mobility devices, like electric scooters, amid a hike in deaths of their riders in recent years.The Korea Road Traffic Authorit…
SEOUL– South Korea’s four major refiners posted a record combined operating profit in the first half as high oil prices pushed up refining margins, their earnings data showed Monday.From January to June, SK Innovation Co., GS Caltex Corp., S-Oil Corp….
SEOUL– A local bank’s refusal to open an account for a foreigner with a long name is discriminatory, South Korea’s human rights watchdog said Monday.The move came 13 months after a foreigner filed a petition with the National Human Rights Commission o…
SEOUL– Foreigner ownership of South Korean stocks hit a 13-year low this month, the bourse operator said Sunday, as demand for riskier assets declined amid the Federal Reserve’s aggressive rate hikes.Foreign investors held 606.2 trillion won (US$464 b…
The South Korean government plans to cut its expenditures next year, the finance minister said Sunday, as the country aims to tighten its belt amid economic challenges and inflation.The remark indicates the government’s budget for 2023 will hover below…
SEOUL– Hanon Systems on Wednesday reported its second-quarter net income of 14.6 billion won (US$11.1 million), down 85.4 percent from a year earlier.The company said in a regulatory filing that operating profit for the April-June period fell 40.2 per…
SEOUL– Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Wednesday it has bagged a 1.96 trillion-won (US$1.5 billion) order to build seven liquefied natural gas (LNG) carriers for an Asian shipper.Hyundai Heavy Industries Co., a KSOE affil…
SEOUL– Shinsegae Inc. on Wednesday reported its second-quarter net profit of 82.3 billion won (US$62.8 million), up 394.1 percent from a year earlier.The company said in a regulatory filing that it posted 187.4 billion won in operating profit for the …
The South Korean economy faces increased downside risks due to high inflation and worsening external economic conditions, a state-run think tank said Sunday.Asia’s fourth-largest economy is on a mild recovery track, but downside risks are expanding in …
South Korea’s exports of instant noodles hit a fresh all-time high in the first half on the increasing popularity of Korean pop culture and a rise in demand for home-cooked food amid the pandemic, data showed Sunday.Exports of instant noodles, or “ramy…
Hyundai Motor Co. and its sister automaker Kia Corp. saw their combined exports of eco-friendly vehicles exceed 200,000 for the first time in the first half of this year, industry data showed Sunday.During the January-June period, the two giant carmake…