Investigation shows KT concealed malware infections, security failures leading to hacking breach

KT Corp., South Korea's second-largest mobile carrier, was found to have concealed critical malware infections and failed to report the security breaches that led to a recent hacking and data theft incident, a government-led investigation revealed Thursday. The joint government-private investigation team, which is examining KT's recent cyberattack linked to illegal micro base stations, said the company learned between March and July of 2024 that 43 of its servers had been infected with so-called

Nov. 6, 2025

Dunamu defends compliance as regulator moves to levy fine

Dunamu, operator of South Korea’s largest cryptocurrency exchange Upbit, said Thursday that it has resolved all issues raised by financial regulators, defending its compliance record amid an ongoing legal dispute with the Korea Financial Intelligence Unit. The statement came after the KoFIU, an affiliate of the Financial Services Commission, imposed a 35.2 billion won ($24.3 million) fine on Dunamu for alleged violations that day, including failures to meet customer due diligence requirements. A

Nov. 6, 2025

KT&G lifts outlook after best quarter in 5 years

South Korean tobacco manufacturer KT&G said Thursday it posted record third-quarter revenue of over 1.8 trillion won ($1.24 billion), buoyed by solid growth in its core overseas operations. Consolidated revenue rose 11.6 percent on-year to 1.83 trillion won, while operating profit increased 11.4 percent to 465.3 billion won, marking the highest quarterly level in five years. The record-breaking performance led the company to raise its full-year guidance for both revenue and operating profit to d

Nov. 6, 2025

AmCham, new FTC chief discuss Korea’s fair trade policy, regulatory challenge

The American Chamber of Commerce in Korea on Thursday held a roundtable in Seoul with Fair Trade Commission Chair Ju Biung-ghi to discuss on the government’s fair trade policy and regulatory challenges facing global companies operating in Korea. In his remarks, AmCham Chair and CEO James Kim underscored the importance of transparent and predictable regulation to enhance Korea’s competitiveness as an investment destination. “Building on the successful momentum from the APEC CEO Summit, AmCham loo

Nov. 6, 2025

Woori Bank partners with Malaysia's AmBank to support bilateral business

Korea's Woori Bank said Thursday it has forged a partnership agreement with AmBank Group, Malaysia’s largest banking group, to expand financial support for Korean and Malaysian companies entering each other’s markets. Under the memorandum of understanding signed in Kuala Lumpur on Wednesday, the two banks will cooperate on advisory and financing services, assist companies in opening local accounts, conduct joint marketing, and build a coordinated support system for firms seeking to establish ope

Nov. 6, 2025

Hana Financial ramps up digital asset, AI strategy

Hana Financial Group, one of South Korea's leading banking groups, announced Thursday that it will pursue financial transformation by embracing digital assets and AI. As part of these efforts, the group has launched a task force under its holding company to lead digital asset-related initiatives to keep pace with the rapid growth of the market. Through the initiative, the group plans to accelerate the development of digital asset products, services and infrastructure in line with the country's l

Nov. 6, 2025

JB Financial Group hosts global forum to boost digital competitiveness

JB Financial Group opened the first chapter of its annual global collaboration event, holding the 2025 JB Forum last week to advance its digital finance strategy with domestic and international partners, the company said Thursday. The two-day forum, held at the group’s Aurum Campus in North Jeolla Province from Oct. 30 to 31, brought together group executives, employees and key partners to share collaboration case studies and explore new joint business opportunities under the slogan “Hello Tomor

Nov. 6, 2025

Mirae Asset’s overseas profit share hits record high

Mirae Asset Securities’ overseas business is taking on a larger role in its earnings profile, with foreign subsidiaries posting a record pretax profit of nearly 300 billion won ($207 million) through the third quarter, representing 23 percent of total company profit, the highest to date. “Supported by robust flow trading operations in advanced markets and expanding wealth management businesses in emerging markets, including Vietnam, Indonesia and India, the company maintained solid recurring pro

Nov. 6, 2025

Seoul stocks slightly rebound from 3% dip on bargain hunting

South Korean shares slightly rebounded from a nearly 3 percent fall the previous day, as retail investors continued their buying spree with unwavering risk appetite. The Korean won slightly gained ground against the US dollar. The benchmark Korea Composite Stock Price Index added 22.03 points, or 0.55 percent, to close at 4,026.45. Trade volume was slightly heavy at 418.8 million shares worth 21.2 trillion won ($14.6 billion), with winners outnumbering losers 630 to 266. Retail investors and ins

Nov. 6, 2025

Hyundai bets on Nvidia to reboot its autonomous driving ambitions

For Hyundai Motor Group, the road to autonomous driving has been far longer than expected. Once an early mover among legacy automakers, the company’s self-driving push has lost momentum in recent years amid technological setbacks and internal struggles. While rivals like Tesla and Waymo have advanced their autonomous driving technology, Hyundai’s own road map — despite a high-profile investment in US joint venture Motional and the acquisition of Seoul-based startup 42dot — remains mainly in the

Nov. 6, 2025

Why are beauty retailers rushing to festivals?

As Korea’s beauty market picks up steam, festivals are emerging as a major battle ground for brands, especially among digital-first players expanding into beauty. Once known for online-only sales playbooks and algorithm-driven marketing, these companies are now pouring resources into large-scale, in-person events to build emotional connection and brand stickiness with customers. “We’re in an era where brands and consumers need to meet in the same space,” said one industry insider. "Beauty festiv

Nov. 6, 2025

Samsung completes FlaktGroup acquisition

Samsung Electronics said Thursday it has completed the acquisition of FlaktGroup, Europe’s largest heating ventilation and air conditioning company, in a push to expand its footprint in industrial cooling and data center infrastructure. The tech giant said it will leverage FläktGroup’s manufacturing and sales networks to strengthen research and development and supply chains, while progressively integrating product portfolios to create synergies. The company plans to operate FlaktGroup as an inde

Nov. 6, 2025

APR profit more than triples on robust US sales

South Korean beauty tech firm APR saw third-quarter profit jump over 250 percent from a year earlier, driven by surging demand in the US market, where sales are now more than twice those in Korea. According to the beauty firm on Thursday, consolidated revenue for the July-September period rose 122 percent on-year to 385.9 billion won ($266 million), while operating profit soared 253 percent to 96.1 billion won. Its strongest-ever quarterly performance puts the company on track to hit its 1 trill

Nov. 6, 2025

Naver to roll out AI agents, ramp up GPU investments

South Korean internet giant Naver is planning to introduce AI agents across key services like shopping and search next year, while investing over 1 trillion won ($691 million) to purchase graphic processing units to bolster infrastructure, ramping up its drive to become a global AI leader. At the company’s flagship tech conference, Dan25, held at Coex in southern Seoul on Thursday, CEO Choi Soo-yeon outlined Naver's AI strategy in a keynote speech, focusing on artificial intleligence agent servi

Nov. 6, 2025

HD Hyundai Infracore sales take off in Ethiopia amid gold rush

HD Hyundai Infracore has seen Develon-branded heavy machinery sales in Ethiopia jump around 470 percent this year, with roughly 1,300 units sold on rising gold mining demand. The company said Thursday that demand surged as Ethiopia’s mining sector accelerated, with government data showing the industry grew 162 percent year-on-year in the 2024-25 fiscal year and gold exports hitting a record $3.4 billion. At the center of the growth is the Develon DX360, a 36-ton excavator that now accounts for r

Nov. 6, 2025