🇰🇷 South Korea · Business
279 storiesNetflix plans about 1,000 job cuts, roughly 6% of its global workforce
Netflix plans to cut about 1,000 jobs worldwide, roughly 6% of its workforce, according to Korean outlets citing US media reports. Product, technology, legal and human resources teams will be the main targets in its largest restructuring si…
HD Hyundai chairman Jeong Gi-seon marks one year: mergers, power and nuclear bets
Jeong Gi-seon (정기선), chairman of HD Hyundai (HD현대), reached the first anniversary of his chairmanship on 17 October. Korean outlets point to the merger of shipbuilding and construction equipment units, a push into the US market and investme…
Doosan names CFOs Kim Min-cheol, Park Sang-hyun vice chairmen; Song Yong-jin made COO
Doosan Corp said on October 16 that Kim Min-cheol (김민철), its CEO, president and chief financial officer, had been promoted to vice chairman. Doosan Enerbility said the same day that its CEO, president and CFO Park Sang-hyun (박상현) had also b…
TSMC's third-quarter profit rises 68.7% to record NT$763.1 billion
TSMC reported third-quarter net profit of about NT$763.1 billion on October 15, up 68.7% from a year earlier and above the LSEG consensus of NT$746.3 billion. Revenue rose 50.9% in Taiwan-dollar terms as demand for advanced chips expanded.
Kumho Tire promotes six executives: four managing directors and two research fellows
Kumho Tire said on October 16 that it had promoted six people to executive posts: four to managing director (sangmu, 상무) and two to research fellow. The new managing directors head the company's German subsidiary, Eastern Europe sales and K…
Hyundai Elevator to sell 116 billion won Hyundai Movex stake, cancel treasury shares
Hyundai Elevator said on October 16 it will sell 6.5 million shares of its subsidiary Hyundai Movex (현대무벡스) at 17,810 won each, about 116 billion won in total, cutting its stake from 48.89% to 43.04%. It will also cancel 2,487,323 of its ow…
Hyosung Heavy Industries completes export breaker plant in Changwon, doubling capacity
Hyosung Heavy Industries said on October 16 that it had completed a new plant in Changwon, South Gyeongsang Province, that will make only ultra-high-voltage circuit breakers for export. The plant covers about 18,996 square metres and will p…
Korean Air posts record quarterly revenue as fuel costs weigh on margins
Korean Air reported record third-quarter revenue of 5.0448 trillion won and operating profit of 421.2 billion won. Passenger and cargo growth lifted sales, but higher fuel costs reduced its operating margin.
POSCO and Hanwha Ocean plan high-manganese steel trial for LNG cargo tanks
POSCO and Hanwha Ocean signed an agreement on October 15 to secure a demonstration vessel with high-manganese steel LNG cargo tanks. The companies plan to test the material's safety, durability and operating efficiency at sea before pursuin…
LG Electronics Q3 revenue 23.8 trillion won, operating profit up 13.5% but below consensus
LG Electronics reported preliminary third-quarter revenue of 23.827 trillion won, up 8.9% from a year earlier, and operating profit of 781.8 billion won, up 13.5%. Both figures fell short of the average analyst consensus, and the shares dro…
Samsung Electronics posts Q3 operating profit of 107.4 trillion won on 195 trillion sales
Samsung Electronics reported preliminary third-quarter 2026 sales of 195 trillion won and operating profit of 107.4 trillion won on October 8. Sales rose 126.59% and operating profit 782.50% from a year earlier, according to Newsis and ZDNe…
LG Electronics signs 5GW AI data center cooling supply deal in North America
LG Electronics said its US subsidiary signed a long-term supply agreement with North American infrastructure platform company AIR Control Concept to provide chillers and other cooling solutions for a total of 5GW of AI data centers. The com…
SK's Chey Tae-won says Gwangju chip cluster is planned at two-thirds the scale of Yongin
SK Group chairman Chey Tae-won visited the Gwangju military airport, the planned site of the Honam semiconductor national industrial complex, on 9 October, his first visit there. He said the plan is for about two-thirds the scale of Yongin,…
Shinsegae invests $1bn in Warner Bros. deal as Paramount completes takeover
Shinsegae Group said its unit Shinsegae Property will invest $1bn (about 1.4 trillion won) in the takeover of Warner Bros. led by Paramount Skydance, alongside David Ellison and US investment firm RedBird. Paramount completed the acquisitio…
Posco Future M, Samsung SDI sign 6 trillion won LFP cathode supply deal
Posco Future M said on Oct 6 that it signed a long-term battery materials supply contract with Samsung SDI that includes lithium-iron-phosphate (LFP) cathode materials, reported at 6 trillion won. The contracted volume is more than double t…
HMM starts headquarters operations in Busan with about 120 staff
HMM began operating its Busan headquarters on October 12, with about 120 staff working in temporary offices. President Lee Jae-myung attended a ceremony marking the relocation on October 13.
Boston Dynamics names former Amazon AI executive Rohit Prasad as CEO
Boston Dynamics, described by Korean outlets as Hyundai Motor Group's robot affiliate, said it has appointed Rohit Prasad, a former Amazon executive who led work on the Alexa voice assistant, as its new chief executive. The company said the…
JYP Entertainment scraps planned Godeok-dong headquarters in Seoul after land-use change
JYP Entertainment, the agency of Twice and Stray Kids, said on October 8 that it has withdrawn its plan to build a new headquarters on land in Godeok-dong, Seoul, that it bought in 2023 for 75.5 billion won. The company said SH Corporation'…
Hanwha M&S rises 24% as Kim Dong-seon launches tender offer for 19% stake
Hanwha M&S shares closed 24.01% higher at 7,540 won on October 12 after executive Kim Dong-seon (김동선) announced a tender offer for 16.06 million shares at 8,000 won each. Buying the full target amount would raise his stake from 5.81% to 24.…
Shinsegae opens Korean-brand pop-ups at three Tokyo Shibuya venues
Shinsegae Department Store said it is holding Korean-brand pop-ups at three commercial venues in Tokyo's Shibuya district from October 15 through November 3. The event adds food and household products to its overseas fashion and beauty prog…