Hanwha Aerospace reports record Q3 profit on strong defense exports

Hanwha Aerospace, Korea’s leading defense company, reported a record third-quarter operating profit of 856.4 billion won ($600 million) on Monday, underscoring the firm’s growing global presence in the defense and shipbuilding sectors. Operating profit surged 79 percent from a year earlier, while sales jumped 147 percent to 6.49 trillion won, marking the highest quarterly performance in the company’s history. The robust earnings were led by Hanwha’s land defense business and its shipbuilding uni

Nov. 3, 2025

Korea starts exports of beef, pork to Singapore

South Korea has officially begun exporting beef and pork from Jeju Island to Singapore, following an agreement reached during the Asia-Pacific Economic Cooperation summit in Gyeongju, North Gyeongsang Province, last week. The Ministry of Agriculture, Food and Rural Affairs said Sunday that exports of frozen pork and beef can begin immediately, marking a milestone for Korean livestock products. The decision came after Singaporean authorities inspected slaughterhouses and processing facilities on

Nov. 3, 2025

Samyang revives beef tallow-fried ramyeon in flavor comeback

Samyang Foods is bringing back beef tallow-based ramyeon for the first time in 36 years, returning to its original flavor philosophy with an ingredient long set aside in the wake of past industry stigma. At a press conference Monday, the Buldak maker unveiled Samyang 1963, a new premium product named for the year it introduced Korea’s first instant ramyeon during the country’s postwar recovery. The launch comes more than three decades after Samyang Foods was accused in 1989 of using inedible-gra

Nov. 3, 2025

Hana Financial backs race for autism awareness

Hana Financial Group took part in the 2025 Autism Race, a running campaign aimed at promoting autism awareness, as part of its corporate social responsibility efforts, the financial services provider said Monday. The Autism Race is a running event hosted by the Autism Society of Korea to improve public understanding of autism and promote a more inclusive community. Hana Financial has been officially sponsoring the race for six consecutive years since 2020. This year, some 300 Hana Financial empl

Nov. 3, 2025

Korea’s big four banks ride high on record Q3 profits

South Korea’s four major banking groups — KB, Shinhan, Hana and Woori — posted record earnings in the July-September period, with their combined net profit for the year nearing 16 trillion won ($12 billion). Their cumulative net profit reached 15.81 trillion won as of September, up 10.4 percent from a year earlier, while third-quarter profit rose 10.2 percent on-year to 5.48 trillion won, marking all-time highs for both quarterly and year-to-date figures. KB led the pack with a net profit of 1.6

Nov. 3, 2025

AIA Korea raises W100m for cancer community

AIA Korea extended its sponsorship of the JTBC Seoul Marathon for a third consecutive year, doubling its donation from last year to support the cancer community and stepping up efforts to promote well-being across Korean society. Held Sunday in Seoul, the JTBC Seoul Marathon is one of the city’s most celebrated races, drawing more than 30,000 participants this year. At the event, AIA Korea, the local life insurance subsidiary of Hong Kong-based AIA Group, operated an expanded booth and showcased

Nov. 3, 2025

K-beauty pushes M&A scene into high gear

Korea’s beauty industry is putting a fresh sheen on the corporate dealmaking landscape, drawing in domestic and global capital chasing the country’s most glamorous rising export. According to US-based consulting firm McKinsey & Company, mergers and acquisitions in Korea’s beauty sector totaled $2.32 billion between January and September, more than double the food and beverage sector’s $977 million. The figures mark a sharp reversal from 2022, when food-related transactions were nearly eight time

Nov. 3, 2025

Local chain Frank Burger fined for unfair biz practices

Frank F&B Corp., operator of the handcrafted burger franchise Frank Burger, was fined for engaging in unfair practices against its franchisees, the antitrust regulator said Sunday. The Fair Trade Commission (FTC) said it imposed a fine of 641 million won ($448,032), along with corrective actions, for the company's violations of the Franchise Business Act. The company is accused of distributing franchise brochures containing false or exaggerated projected earnings to potential franchisees for abo

Nov. 2, 2025

How 260,000 Nvidia chips could redefine Korea’s AI ambitions

South Korea’s plan to secure 260,000 of Nvidia’s latest Blackwell AI chips, in a deal worth up to $10 billion, marks one of its boldest steps yet to build world-class artificial intelligence infrastructure. But beyond the record figure, the deal underscores both Korea’s rising AI ambitions and the challenges ahead. Announced during Nvidia CEO Jensen Huang’s visit to Gyeongju, North Gyeongsang Province, for the APEC summit, the agreement represents one of the largest GPU allocations ever made to

Nov. 2, 2025

Hana Financial Group honored for elderly care support

Hana Financial Group on Friday received a plaque of appreciation from the Sisters of St. Paul of Chartres for its continued support of older adults in need. The award ceremony took place at Hana’s headquarters in Myeong-dong, central Seoul. Since 2017, Hana has supported Saint Paul Nursing Home, a care facility operated by the religious order for older people living with dementia and other age-related illnesses. The group has donated a wide range of equipment and supplies, including electric bed

Nov. 2, 2025

AI dominates discussions at APEC

GYEONGJU, North Gyeongsang Province — Artificial intelligence dominated the 2025 APEC CEO Summit as the overriding theme in conversations across energy, health care, infrastructure and governance. During the four days of the event held in Gyeongju, world leaders and business chiefs cast AI as the foundation of a new global economy, examining its requirements, from chip production to data center power, and the questions it poses for ethics and cross-border rules. The event also served to cast lig

Nov. 1, 2025

Exports up for 5th month at $59.57b in Oct. on robust chip demand

South Korea's exports grew 3.6 percent from a year earlier in October, rising for a fifth consecutive month, despite a slide in shipments to the United States, thanks to strong demand for semiconductors, government data showed Saturday. Outbound shipments came to $59.57 billion last month, according to data compiled by the Ministry of Trade, Industry and Resources. It marked the fifth consecutive month since June the country's monthly exports posted an on-year gain. Imports decreased 1.5 percent

Nov. 1, 2025

[Q&A] From Samsung, SK hynix to Huawei: Nvidia CEO talks physical AI, partnerships and perseverance

GYEONGJU, North Gyeongsang Province -- After announcing a landmark deal to supply 260,000 graphics processing units to South Korea, Nvidia CEO Jensen Huang faced the press in Gyeongju on Friday evening for a candid media session -- pausing between questions for sips of Coke, ice cream and a Korean chocolate snack to keep his energy up after a long day. During the hour-and-a-half-long session Huang reiterated the importance of Samsung Electronics and SK hynix as “incredible partners,” that their

Oct. 31, 2025

Industry minister discusses economic cooperation with Japan, Vietnam during APEC gathering

Industry Minister Kim Jung-kwan on Friday held bilateral meetings with his counterparts from Japan and Vietnam during the Asia-Pacific Economic Cooperation gathering here and explored ways to enhance South Korea's economic ties with the countries amid challenges in global trade, Kim's office said. Kim met with Japanese Minister of Economy, Trade and Industry Akazawa Ryosei in the southeastern city of Gyeongju and agreed to make joint efforts to strengthen ties between Seoul and Tokyo in advanced

Oct. 31, 2025

Silicon and spirits: Nvidia’s Jensen Huang, SK’s Chey Tae-won celebrate AI friendship

Nvidia CEO Jensen Huang and SK Group Chair Chey Tae-won reaffirmed their longstanding business friendship in a separate meeting following the APEC CEO Summit in Gyeongju, North Gyeongsang Province, on Friday, as the two leaders exchanged high-profile gifts and discussed next-generation AI collaborations. Chey, who was unable to attend the previous day’s high-profile "chimaek" gathering — a casual fried chicken and beer dinner with other top Korean conglomerate heads — met with Huang one-on-one a

Oct. 31, 2025