Online grocery delivery platform Oasis Market passed the preliminary approval for its planned initial public offering on the Korean stock exchange. In September, Oasis Market applied for a preliminary review for its IPO with lead managers Korea Investment & Securities and NH Investment & Securities. The Korean e-commerce company is planning to debut on the secondary tech-heavy KOSDAQ markets during the first half of 2023. Established in 2011, Oasis Market entered the online delivery mark

Boryung's risky bet puts over 10% of total equity into still-nascent space business

Top 4 banks – KB Kookmin, Shinhan, Hana, Woori – expected to shed over 2,000 employees by end of January

Trade Minister hints at raising energy bills by "considerable" margin next year

Dream Gream scholarship aims to connect climate crisis, artistic creativity

Samsung Electronics will provide a maximum of 50 percent of their annual salaries as bonuses to the employees of its chip business unit at the end of January, industry sources said Thursday. The world's biggest memory chipmaker has reportedly informed its executives and employees about the detailed plan for annual incentives, dubbed the overall performance incentive (OPI), a day earlier. Samsung rewards its executives and employees every January with up to 50 percent of their salaries withi

Korea International Trade Association Chairman Koo Ja-yeol on Thursday vowed to make all-out efforts to support export companies in finding new growth opportunities next year, as industries seek to transition toward a digital and carbon-neutral economy. “We will actively strengthen our export foothold in response to the changed trade structure and green and digital transitions that have been accelerated since the COVID-19 pandemic,” Koo said in his New Year's message. Diffic

Switzerland's cargo carrier MSC Air Cargo will launch an Incheon-Indianapolis route next year as a complementary service to its container shipping solutions, the operator of the Incheon airport said Thursday. MSC Air Cargo is the cargo airline launched by global shipping firm Mediterranean Shipping Company. MSC followed its rivals French shipping firm CMA CGM and Denmark's A.P. Moller-Maersk in launching the air cargo operations. The cargo carrier plans to begin operating two flights a

South Korea's imports of party supplies, such as decorations and balloons, hit a record-high through November this year, customs data showed Thursday, as the country has lifted social-distancing rules. The combined imports of party supplies over the January-November period came to $64 million, up 31.7 percent from a year earlier, according to the data compiled by the Korea Customs Service. The amount far exceeds $56 million tallied for all of 2021. The growth came as people hosted various p

South Korean shipbuilders lagged behind their Chinese rivals in terms of new global orders in 2022 to take the No. 2 spot in the world for the second straight year, industry data showed Thursday. Local shipbuilders clinched a combined 15.64 million compensated gross tons in new orders this year, accounting for 37 percent of the 41.93 million global total, according to the data provided by global market researcher Clarkson Research Service. It was down 11 percent from a year earlier. The global t

South Korea's industrial output rebounded for the first time in five months in November, data showed Thursday, while retail sales extended losses for the third consecutive month amid economic concerns. Industrial production edged up 0.1 percent on-month last month, turning around from a 1.7 percent decrease posted in October, according to the data from Statistics Korea. The rebound came as the output in the mining, manufacturing, gas and electricity industries advanced 0.4 percent on-month

South Korean tech companies are ready to showcase their latest products and innovative technologies at CES 2023, the world's largest consumer electronics show slated to open in Las Vegas next week. CES will be held in a bigger and more fully in-person fashion this time, with global tech giants like Google, Meta and Microsoft physically returning to the global stage for innovation after missing the previous one due to the fast spreading omicron variant. CES 2021 was held entirely online. The

Researchers develop world’s 1st meta-learning electric skin technology

South Korean telecom giant KT Corp. said Wednesday it has appointed its incumbent CEO, Ku Hyeon-mo, as the final candidate to take the helm at the company. The company’s CEO candidate review committee on the same day assessed whether Ku was eligible for a second three-year term. After conducting preferential reviews for seven times, the committee informed the company’s board of directors that Ku is qualified. The KT CEO will be elected at the regular general meeting of shareholders

The inappropriate behavior of senior management and a lack of financial control saw the largest increases among causes of Korean companies' internal control problems in 2022, according to the K SOX Audit Review published by Samjong KPMG, a Seoul-based consulting firm, Wednesday. A total of 46 cases of inappropriate behavior or negligence of senior management were spotted among Korean companies, surging from 18 cases last year, the report said. Companies that did not have proper financial co