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AmCham's annual scholarship event raises record W150m
The American Chamber of Commerce in Korea said Friday it raised a record 150 million won ($103,000) at its annual scholarship fundraising event. The 18th AmCham CEO Servers’ Night, held Thursday at the Conrad Seoul and organized by the chamber’s philanthropic arm, Partners for the Future Foundation, brought together senior leaders of the global business community to support university students facing financial hardship. More than 440 guests attended, including executives from Amgen Korea, Cerage
Nov. 7, 2025 -
Samsung Electronics triples AI home appliance lineup
Samsung Electronics announced Friday it has more than tripled its lineup of AI-powered home appliances this year, a strategic push toward its ultimate goal of achieving "zero household labor," according to Vice President Moon Jong-seung. Moon, who heads the development team for Samsung’s digital appliance division, said the AI technology embedded in the company’s premium Bespoke lineup aims to reduce everyday household tasks for users. “We will further advance the integration between AI technolo
Nov. 7, 2025 -
Kakao posts record quarterly earnings despite user backlash over messenger revamp
Kakao shrugged off public backlash over its recent KakaoTalk messenger revamp to post record earnings in the third quarter, with both revenue and operating profit hitting all-time highs on the back of steady platform growth and surging ad sales. The South Korean tech firm said Friday its July-September sales climbed to 2.09 trillion won ($1.4 billion) on-year, while operating profit jumped 59.4 percent to 208 billion won — beating market consensus of 2.02 trillion won in sales and 163 billion wo
Nov. 7, 2025 -
EQT to acquire controlling stake in Korea's Douzone Bizon for $930m
Sweden's EQT is set to acquire a controlling stake in South Korean enterprise software provider Douzone Bizon for about $930 million, the asset manager said Friday. EQT revealed it signed a share purchase agreement to invest approximately $930 million in the Kospi-listed company, securing a 37.6 percent stake and controlling interest. Under the deal, EQT will acquire the entire 23.2 percent stake held by Douzone Bizon Chair Kim Young-woo and a 14.4 percent stake owned by Shinhan Financial Group
Nov. 7, 2025 -
Kakao's Q3 net profit more than doubles on strong platform biz
South Korean tech giant Kakao Corp. said Friday its net profit more than doubled in the third quarter from a year earlier on strong growth in its key businesses. The company's net income came to 192.9 billion won ($133.2 million) for the three-month period ending in September, up 145.6 percent from 78.5 billion won a year earlier, the company said in a regulatory filing. The earnings beat market expectations. The average estimate of net profit by analysts stood at 117.5 billion won, according to
Nov. 7, 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 -
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 -
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 -
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 -
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 -
Samsung SDI wins CES Best of Innovation for high-output battery
Korean battery-maker Samsung SDI announced Thursday that its ultrahigh output battery, SDI 25U-Power, has been selected for Best of Innovation at CES 2026, marking a second consecutive year of recognition for the company at the world’s largest consumer electronics and technology exhibition. Presented by the US-based Consumer Technology Association, the honor will be awarded at the exhibition in Las Vegas in January. The award, in the Construction & Industrial Tech category, recognizes the most o
Nov. 6, 2025 -
NPS to divide investment oversight as assets soar
The National Pension Service plans to overhaul how it makes investment decisions, as the size of its assets continues to surge, aiming to sharpen expertise and adapt to increasingly complex global markets. The pension fund said Thursday it is considering splitting its Investment Committee into two divisions — one overseeing public investments and the other managing private assets — to create a dual decision-making structure aimed at improving specialization and operational efficiency. The change
Nov. 6, 2025 -
LG Energy Solution becomes 1st battery-maker to win CES award for software
Korea’s LG Energy Solution announced on Thursday that its battery life management software, Better.Re, will receive a CES 2026 Innovation Award, marking the company’s expansion from battery cell expertise into software-based battery management systems. The award, in the Vehicle Technology & Advanced Mobility category, was presented by the US-based Consumer Technology Association at CES, the world’s largest consumer electronics and technology exhibition, scheduled to be held in January in Las Veg
Nov. 6, 2025