New KCS task force targets drugs, scams, illicit cash flows

The Korea Customs Service has formed a special unit dedicated to rooting out transnational crimes, ranging from drug trafficking and organized scams to illicit financial flows. The emergency unit, called the Transnational Crime Eradication Task Force, is tasked with the interception of illegal trade, including drugs, firearms and Intellectual property-infringing items, at the border. The new unit consists of two primary wings: a specialized operations team responsible for intensive investigation

Nov. 26, 2025

Korea’s customs chief aims to lead ‘fair growth’ with AI, digital border control

South Korea’s customs chief has pledged to use artificial intelligence and digital tools to strengthen fair growth at home while deepening cooperation with developing countries, positioning the Korea Customs Service as a “border guardian” for both trade and national security. In a recent interview with The Korea Herald, the KCS head said the agency is moving beyond its traditional image as a tax collector to become a strategic actor in trade security, digitalization and global standard-setting.

Nov. 26, 2025

Hana Financial to foster 3,000 data specialists by 2027

Hana Financial Group on Tuesday completed the third phase of its Hana Data eXpert Program and set a new target to train more than 3,000 data specialists across the group by 2027. The 3,000 by 2027 initiative is designed to strengthen groupwide data-driven decision-making and bolster service and marketing capabilities. Earlier, Hana announced a 2,500 by 2025 vision in 2022 and reached that milestone with the latest cohort. The third course focused on developing “convergence experts” capable of le

Nov. 26, 2025

GS E&C, Evoloh partner on next-gen hydrogen plant

South Korean construction giant GS Engineering & Construction said Tuesday it has signed a contract with US-based electrolyzer stack maker Evoloh to develop an anion‐exchange-membrane, or AEM, electrolysis plant package, with full-scale development scheduled to begin at the end of November. The deal follows an April agreement between the companies to collaborate on a basic design package and front-end engineering, as well as an EPC contract covering engineering, procurement and construction. Evo

Nov. 26, 2025

After 70 years in Korea, Rieckermann doubles down on high-tech growth

Hamburg-headquartered industrial solutions provider Rieckermann has been a quiet but consequential player in Korea’s industrial development for more than seven decades. Founded in 1892, the privately owned German group has grown into a global organization with over 750 employees across 26 offices in 18 countries. Its Seoul branch, established in 1953, is one of its earliest and longest-running Asian operations. “There is a long tradition of cooperation between Korea and Germany, and I believe th

Nov. 26, 2025

Seoul to set up special corporation for $350b investment pledge to US

South Korea will "temporarily" establish a strategic investment corporation that will operate a special fund for the country's $350 billion investment in the United States as agreed under a bilateral tariff deal finalized last month, the government said Wednesday. The envisioned corporation, tentatively named Korea-US Strategic Investment Corp., will be created for a maximum 20-year operation under a special bill submitted by the ruling Democratic Party to support Seoul's investment plans in the

Nov. 26, 2025

Finance chief says S. Korea's economy at 'turning point' to reshape growth trajectory for decades

Finance Minister Koo Yun-cheol said Wednesday that South Korea's economy is at a "turning point" that will shape its growth trajectory for decades, vowing to push ahead with projects aimed at creating new growth engines. The government earlier announced 15 flagship projects under President Lee Jae Myung's five-year economic development blueprint to build what it calls a "super-innovation economy." The government views the next five years as the nation's final window to secure long-term, sustaina

Nov. 26, 2025

Biz sentiment reaches 1-yr high in Nov. on semiconductor boom: BOK survey

Business sentiment in South Korea rose to the highest level in more than a year in November, supported by an ongoing boom in the semiconductor industry and improving consumer sentiment, a central bank survey showed Wednesday. The Composite Business Sentiment Index for all industries came to 92.1 this month, up 1.5 points from October, according to the survey from the Bank of Korea. It marked the highest level since October 2024, when the index reached 92.5, and the largest monthly increase since

Nov. 26, 2025

Seoul kicks off annual export fair with K-consumer goods on center stage

South Korea's major export fair kicked off Wednesday, with this year's focus on promoting South Korean consumer goods, such as beauty and food products, amid soaring global popularity of Korean culture, the industry ministry said. The 2025 Korea Grand Sourcing Fair is set to run through Thursday in Seoul, bringing together 880 Korean firms and 150 foreign buyers from 30 countries, including US-based retail giant Walmart, Japanese retailer Marui and Chinese variety store chain Miniso, according t

Nov. 26, 2025

Seoul shares open higher amid rate-cut hopes

South Korean stocks started higher Wednesday, tracking overnight gains on Wall Street amid hopes for the Federal Reserve's rate-cut decision. The benchmark Korea Composite Stock Price Index added 21.6 points, or 0.56 percent, to 3,879.38 in the first 15 minutes of trading. US stocks finished in positive territory as investors bet on another Fed rate cut at its December meeting. The Dow Jones Industrial Average rose 1.43 percent, and the Nasdaq composite gained 0.67 percent. In Seoul, market bell

Nov. 26, 2025

Samsung, Reliance chiefs push deeper AI-chip alliance

Samsung Electronics Chair Lee Jae-yong met with Mukesh Ambani, chair of India’s Reliance Industries and Asia’s richest business leader, in Seoul on Tuesday to discuss expanding cooperation in future growth sectors, including semiconductors, next-generation telecommunications, AI data centers and batteries, the Korean tech giant said. During the meeting, Samsung presented Ambani with a full lineup of its latest technologies from AI and extended reality devices to foundry services, data center sol

Nov. 25, 2025

Seoul shares snap 2-day drop on hopes for rate cut, eased AI fear; won rebounds

South Korean stocks rose slightly Tuesday to end a two-session losing streak as revived hopes for a US rate cut and eased fears over artificial intelligence uncertainties boosted appetite for risky assets. The local currency gained sharply against the US dollar. The benchmark Korea Composite Stock Price Index added 11.72 points, or 0.3 percent, to close at 3,857.78. It marked the first daily gain since Friday, when it tumbled 3.79 percent. Trade volume was light at 275.5 million shares worth 13.

Nov. 25, 2025

Seoul’s foreign-exchange defense faces rising US pressure

As the National Pension Service moves to help stabilize the weakening won, a new challenge looms: mounting pressure from Washington for greater transparency in Korea’s foreign exchange practices. On Monday, South Korean foreign exchange authorities and the NPS held the first meeting of a new consultative body aimed at addressing the won’s slide against the dollar. Although officials did not disclose specific measures, several options are under consideration, and each carries political and regula

Nov. 25, 2025

Samsung taps new AI talent in biggest reshuffle in years

Samsung Electronics on Tuesday carried out its largest executive promotion round in recent years, elevating a wave of rising leaders in AI, robotics and advanced chips as the tech giant accelerates a generational shift for the AI era. In its annual reshuffle, Samsung promoted 161 employees to executive positions — a sharp increase from 143 in 2023 and 137 in 2024 — signaling a pivot toward younger, next-generation leadership capable of steering the tech giant through intensifying global competit

Nov. 25, 2025

[Photo News] Currency jitters return

The Korean won is quoted at 1,472 per dollar at a currency exchange booth in Myeong-dong, central Seoul, Tuesday. With the won sliding to a seven-month low against the dollar, the National Pension Service is set to take action to stabilize the currency's valuation, having joined hands with the forex authorities through a consultative body. But with mounting pressure from Washington for greater transparency in Korea’s foreign exchange practices, its intervention could be limited. (Yonhap)

Nov. 25, 2025