Former South Korean president Yoon Suk Yeol sentenced to two years in political funding case

Former South Korean President Yoon Suk Yeol has been sentenced to two years in prison after a Seoul court found him guilty of violating the country's political funding laws. The ruling marks another chapter in the legal challenges facing the former leader following his removal from office and multiple criminal proceedings. According to......

Korean Air reports 34% drop in quarterly profit despite record revenue

Korean Air reported a sharp decline in second-quarter operating profit as higher fuel costs weighed on earnings, even as the airline posted its highest-ever revenue for a second quarter thanks to robust passenger demand and a booming cargo business. The South Korean flag carrier said strong inbound tourism and sustained freight activity helped......

Samsung accelerates Yongin semiconductor plant launch to meet AI chip demand

Samsung Electronics is accelerating the development of its semiconductor manufacturing network by bringing forward the launch of its first chip fabrication plant in Yongin, South Korea. The facility is now expected to begin operations in 2029, two years earlier than originally planned, as the company seeks to respond to rapidly growing global......

Seoul stocks plunge 9% as Samsung and SK hynix extend AI-driven market sell-off

South Korea's stock market suffered one of its sharpest declines of the year on Monday, with the benchmark KOSPI index falling nearly 9% as heavy selling in semiconductor giants Samsung Electronics and SK hynix intensified concerns over technology valuations linked to the artificial intelligence boom. The sharp decline reflects growing......

Hyundai Motor workers launch three-day nationwide strike in South Korea after wage talks fail

Workers at Hyundai Motor Company have begun a three-day nationwide partial strike after negotiations with management over wages and benefits reached an impasse, raising concerns about production disruptions at South Korea's largest automaker. The industrial action follows months of unsuccessful bargaining between the company's main......

South Korea seeks North Korea’s assistance in search for missing seaman near maritime border

South Korea has appealed to North Korea for assistance in locating a navy seaman who went missing near the maritime border in the East Sea, in a rare humanitarian request despite the absence of direct communication channels between the two countries. The appeal comes as South Korean authorities continue search operations amid concerns that......

South Korea issues first-ever highest-level heat alert amid extreme temperatures

South Korea has issued its highest-ever heat alert for the first time since introducing a new emergency warning system designed to address increasingly severe weather events linked to climate change. The unprecedented alert was activated on Sunday for parts of the country's southeast, where soaring temperatures and dangerous heat index......

SK Hynix raises $26.5 billion ahead of landmark Wall Street listing fueled by AI chip demand

South Korean memory chip manufacturer SK Hynix has secured $26.5 billion ahead of its Wall Street debut, marking one of the largest capital raises ever completed before a stock market listing. The company announced on Friday that it had priced the shares to be offered in its U.S. listing later in the day. The fundraising ranks as the second-largest......

South Korea’s Supreme Court upholds seven-year prison sentence for former President Yoon Suk Yeol

South Korea's Supreme Court has upheld a seven-year prison sentence imposed on former President Yoon Suk Yeol, bringing a decisive conclusion to a high-profile legal case stemming from his efforts to obstruct authorities attempting to arrest him following the country's 2024 martial law crisis. The ruling, delivered on Thursday, affirms......

South Korean bank manager fired after replacing stolen cash with fake banknotes

A branch manager at a South Korean bank has been dismissed after an internal investigation uncovered an unusual embezzlement scheme in which stolen cash was replaced with counterfeit-looking notes purchased online. The incident took place earlier this year at a branch of Saemaul Geumgo in the city of Gyeongju. According to local reports,......

South Korea seeks deeper NATO defence industry partnership through joint innovation

South Korean President Lee Jae Myung has called for a broader defence industry partnership with NATO allies, proposing expanded cooperation in advanced technology research, weapons development and joint production programmes. Speaking at the NATO Summit's Defence Industry Forum in Ankara, Lee said South Korea aims to move beyond traditional......

Samsung consumer electronics workers plan protest over widening bonus gap

Workers in Samsung Electronics' smartphone, television and home appliance businesses are preparing to stage a large-scale protest later this month, highlighting growing tensions over disparities in employee compensation across the company's divisions. The demonstration, scheduled for July 16, follows a recent wage agreement secured......

SK Hynix weighs 0.5% underwriting fee as landmark US ADR listing moves closer

South Korean semiconductor manufacturer SK Hynix is reportedly considering an underwriting fee of around 0.5% of the proceeds from its planned American Depositary Receipt (ADR) offering, as preparations accelerate for one of the largest U.S. equity listings in recent years. According to reports citing people familiar with the matter, the......

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