President Lee Praises Record Exports and Calls for Startup Revitalization
President Lee Jae-myung praised the Ministry of SMEs on August 4, stating, "This year, exports in the first half reached an all-time high. Thank you for your hard work."During a report from the Ministry of SMEs held at the Blue House, President Lee emphasized, "The growth of small and medium enterprises, which are the roots and true backbone of the South Korean economy, is essential for everyone's growth."The export amount for small and medium enterprises in the first half of this year was $64 b
K-Battery Industry to Benefit from South Korea's Version of IRA
The South Korean government is set to introduce a tax credit system, akin to the U.S. Inflation Reduction Act (IRA), that will reduce taxes based on the volume of secondary batteries produced and sold domestically. This new system, which focuses on actual production rather than investment amounts, is expected to alleviate operational burdens for battery manufacturers such as LG Energy Solution, Samsung SDI, and SK On.According to industry sources, the Ministry of Economy and Finance has included
Nexters Reports 5.3 Billion Won Operating Loss, 8.1 Billion Won Net Profit Due to One Store Acquisition
Nexters announced on August 4 that it recorded approximately 5.8 billion won in revenue and an operating loss of about 5.3 billion won for the second quarter, according to its consolidated financial statements under Korean International Financial Reporting Standards (K-IFRS). The company reported a net profit of approximately 8.1 billion won, reflecting a gain of 15.7 billion won from the acquisition of One Store.For the first half of the year, cumulative revenue reached 17.42 billion won, a 9.4
Naver Hires Kim Sun-ho as Senior Management Advisor to Strengthen Defense AI Initiatives
Naver has hired Kim Sun-ho as a senior management advisor. This move is seen as a strategy to enhance its public and defense sector artificial intelligence (AI) initiatives and its Sovereign AI strategy by bringing in an expert with experience in defense policy and organizational operations.According to industry sources on August 4, Kim is currently coordinating his start date with Naver.This hiring is viewed as a response to the expanding adoption of AI in government and defense sectors. Given
Challenges Ahead for POSCO Chairman Jang In-hwa as Term Expires
Jang In-hwa, chairman of POSCO Group, is focusing on improving management performance in the second half of the year as he approaches the end of his term early next year. The market views the recovery of profitability in the steel sector, growth in the lithium business, and safety management outcomes as key factors determining the success of Jang's leadership.According to industry sources, Jang's term lasts until March 2027. Within POSCO, there is uncertainty regarding Jang's reappointment due t
One Year to the 2027 World Youth Day: Exploring Catholic Culture in Seoul
The 2027 World Youth Day (WYD) is just a year away, and Seoul is transforming into a cultural stage to welcome young people from around the globe.The '2026 Catholic Culture Expo,' taking place on August 8-9 at Deoksugung Stone Wall Road, is not merely a religious event. It is a participatory cultural festival open to all, including Catholics, local citizens, and international tourists, free of charge.This expo serves as a 'dress rehearsal' for the 2027 WYD, aiming to introduce the history, spiri
Musinsa Provides Relief Supplies to Customers Affected by Kumamoto Earthquake
Musinsa has begun providing relief supplies to customers in Japan's Kyushu region affected by a recent earthquake.According to industry sources on August 4, Musinsa is shipping relief supplies along with orders from customers residing in the Kyushu area who shop at the 'Musinsa Global Store.' This initiative follows a magnitude 7.1 earthquake that struck near Uki City in Kumamoto Prefecture on July 28, resulting in 13 fatalities and significant damage.The relief supplies include arm sleeves and
Toyota Raises Profit Outlook Amid Yen Weakness, Shares Decline
Japan's Toyota Motor Corporation has raised its profit forecast for the fiscal year 2027 (April 2026 to March 2027) by 250 billion yen (approximately $2.27 billion), now projecting a net profit of 3.25 trillion yen (about $29.5 billion). This increase is attributed to a revised yen-to-dollar exchange rate estimate, which was adjusted from 150 yen to 160 yen per dollar, resulting in a profit boost of 480 billion yen. Toyota also announced a plan to buy back up to 1 trillion yen worth of its own s
South Korea and Bangladesh Reach Preliminary Agreement on CEPA, Reducing Tariffs on Cars and K-Food
South Korea and Bangladesh have reached a preliminary agreement on a Comprehensive Economic Partnership Agreement (CEPA). This agreement will lower tariff barriers on key exports, including K-food items like ramen and seasoned seaweed, as well as diesel, automobiles, and home appliances, paving the way for access to Bangladesh's market of 170 million people.The Ministry of Trade, Industry and Energy announced that Yeo Han-goo, head of the Trade Negotiation Headquarters, and Khandaker Abdul Mukta
IPO Market Declines Despite Record Trading Volumes in South Korea
The initial public offering (IPO) market in South Korea is cooling down. Despite record levels of trading volume in the domestic stock market, the returns on newly listed shares have decreased. Regulatory uncertainties, prolonged listing reviews, and delays in the submission of securities registration statements are expected to hinder the recovery of new listings this year.According to the financial investment industry on August 4, the cumulative IPO amount, excluding SPACs and REITs, reached 12