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Hana Bank pledges $348m to boost K-defense exports in Europe
Hana Bank said Sunday it will provide 300 million euros ($348 million) in export financing to support Korea’s defense industry in Europe, including major contracts in Poland, through a joint initiative with the Export-Import Bank of Korea. The deal marks the first time a commercial bank has partnered with the state-run lender to deliver financing specifically for K-defense exports, creating a new public-private model that pairs policy finance with private capital for large-scale weapons projects
Nov. 30, 2025 -
Why burgers became a safe bet in Korea
Hamburgers have long served as an informal gauge of inflation across countries. Now, in Korea, they have taken on a new role as a go-to budget meal. As dining costs continue to rise, an increase in the revenue of major fast food franchises here indicates that more consumers are turning to burgers. According to DART, the Financial Supervisory Service’s electronic disclosure system, burger chain Lotteria operator Lotte GRS recorded 995.4 billion won ($678.24 million) in revenue and 39.1 billion wo
Nov. 30, 2025 -
EcoPro boosts global footprint with new Hungary plant
EcoPro has completed its cathode materials plant in Debrecen, Hungary, and begun commercial production, becoming the first Korean battery materials maker to establish a manufacturing base in Europe. The company announced Sunday that it had held a completion ceremony on Friday, attended by EcoPro founder Lee Dong-chae, EcoPro CEO Song Ho-jun, EcoPro BM CEO Choi Moon-ho, Hungarian Investment Promotion Agency head Istvan Joo, GEM Vice Chairman Wang Min and SK On CEO Lee Seok-hee, along with other e
Nov. 30, 2025 -
From shipyards to steel mills, manufacturers get meme makeovers to woo Gen Z
Korea’s traditional manufacturing giants are reinventing themselves online, rolling out memes, characters and humorous videos to win over millennials and Generation Z — a demographic increasingly shaped by workplace culture, relatability and digital storytelling rather than by legacy brand power. Once defined by rigid hierarchies and a smokestack-era image, the country’s manufacturing sector is now fighting a perception gap as it competes with IT firms and startups for young talent. Companies fr
Nov. 30, 2025 -
Korean Air to build W176b maintenance hub at Incheon Airport
Korean Air said Sunday it will invest 176 billion won ($120 million) to build a major new maintenance hangar at Incheon Airport, bolstering its safety infrastructure and expanding its aircraft servicing capacity. The flag carrier signed an agreement with the Incheon International Airport Corporation on Nov. 24 for the H3 Maintenance Facility Development Project. The ceremony at the Grand Hyatt Incheon drew more than 90 attendees, including Korean Air Vice Chairman Woo Kee-hong, IIAC President Le
Nov. 30, 2025 -
Hyundai, Kia to invest W1.2tr in new battery R&D hub in Anseong
Korea’s two largest automakers, Hyundai Motor Co. and Kia, announced Friday that they will invest 1.2 trillion won ($816 million) to build their first battery-dedicated research and development facilities, signaling a stronger commitment to developing batteries for their own vehicles, future mobility and robotics. The two Hyundai Motor Group affiliates held a ceremony wishing the safe completion of the Future Mobility Battery Anseong Campus, marking the first official confirmation of the project
Nov. 28, 2025 -
AmCham, NTS discuss tax reforms to improve Korea's investment edge
The American Chamber of Commerce in Korea held a roundtable on Friday to discuss tax reforms to bolster Korea's appeal to global investors, inviting National Tax Service Commissioner Lim Kwang-hyun to share the government's tax policy priorities. During the roundtable in Seoul, AmCham Chairman and CEO James Kim pointed to the uncertainties foreign companies face in areas such as audit procedures, tax interpretation and filing requirements. "Foreign companies also hope to be treated under the sam
Nov. 28, 2025 -
Foreign nationals own over 104,000 homes, 270m square meters of land in Korea
Foreign nationals own more than 104,000 homes in Korea and nearly 270 million square meters of South Korean land as of the end of June this year, government data showed Friday. Over half of those homes were owned by Chinese nationals, while the majority of the land was owned by US citizens. The Ministry of Land, Infrastructure and Transport released a report on foreign-owned domestic real estate, which showed that foreign ownership of housing and land continues to increase. Foreign nationals hel
Nov. 28, 2025 -
Hyundai E&C’s Hillstate Gaya draws interest ahead of Oceans Ministry relocation
As the Ministry of Oceans and Fisheries prepares to relocate to Busan, Hyundai Engineering & Construction’s Hillstate Gaya complex is gaining attention due to its proximity to the ministry’s temporary headquarters, the company said Friday. Hillstate Gaya, located in central Busan, will comprise two complexes with a total of 487 units. All units are 84 square meters or smaller, as compact sizes remain in high demand. The site is within walking distance of Dongui University Station on Busan Subway
Nov. 28, 2025 -
Samsung founding family in rare appearance as Lee's son joins Navy
Founding family members of the Samsung Group gathered on Friday to witness the commissioning of Lee Ji-ho, the eldest son of Samsung Electronics Chair Lee Jae-yong, as a Navy officer following his completion of an 11-week officer candidate course. The commissioning ceremony was attended by Chair Lee, his mother, Hong Ra-hee; the honorary director of Samsung’s Leeum Museum of Art; and his sister Lee Seo-hyun, the president of Samsung C&T. Lee Ji-ho’s mother and Chair Lee’s ex-wife, Lim Se-ryung,
Nov. 28, 2025 -
Biotech shares in Korea rise on buzz over local Mounjaro production
Rising speculation that Eli Lilly could produce its blockbuster weight-loss drug Mounjaro in Korea drove sharp gains in Kosdaq-listed biotech firm Peptron and drew renewed attention to SK Pharmteco on Friday, though the SK subsidiary declined to confirm. Mounjaro is a treatment for Type 2 diabetes, which is also known to be effective for weight loss. If confirmed, it would mark the first time a Glucagon-Like Peptide-1 agent is produced here. Peptron closed at 340,000 won ($231) on Friday, surgin
Nov. 28, 2025 -
Seoul shares snap 3-day rally; won sharply down
South Korean stocks fell by 1.5 percent Friday to end a three-day winning streak as investors sought profits. The Korean won declined sharply against the US dollar. The benchmark Korea Composite Stock Price Index lost 60.32 points, or 1.51 percent, to close at 3,926.59. The index had risen for three sessions in a row from Tuesday to Thursday. Trade volume was light at 237.7 million shares worth 11.7 trillion won ($8 billion), with winners outpacing decliners 592 to 281. Foreigners dumped a net 2
Nov. 28, 2025 -
Google's AI chip push spurs hope for Samsung, SK hynix
As Google emerges as a formidable new force in the artificial intelligence hardware space with its tensor processing units, expectations are rising that surging demand for high-bandwidth memory could benefit South Korean semiconductor giants such as Samsung Electronics and SK hynix. According to industry sources on Friday, Google is actively seeking to supply its TPU chips -- already deployed in its in-house AI model Gemini 3 -- to other Big Tech firms, including Meta, the parent company of Face
Nov. 28, 2025 -
Nexon breaks ¥3.1tr market cap on broad IP development
Game developer Nexon announced Friday that its Tokyo-listed shares have climbed to a new all-time high, pushing its market capitalization above 3.1 trillion yen ($19.8 billion). On Thursday, Nexon’s stock closed at 3,768 yen, continuing its upward trend to an unprecedented level, fueled by a dual growth strategy of launching new titles and enhancing its existing flagship games. Since the company reported its third-quarter performance on Nov. 11, the stock has hovered at around 3,700 yen — the hi
Nov. 28, 2025 -
Hanwha Aerospace secures W705b deal for Korea’s top-tier air defense system
Korea’s leading defense company Hanwha Aerospace said Friday it has secured a 705.4 billion won ($481 million) contract to supply its long-range surface-to-air missile system (L-SAM) to the Korean government. According to the company, it will deliver the anti-ballistic missiles and launch platforms to the Korean military by 2030, raising Korea’s indigenous air defense coverage to altitudes above 40 kilometers. Together with the L-SAM multifunction radar supplied under a separate 357.3 billion wo
Nov. 28, 2025