Starbucks takes spending crown, Mega Coffee leads visits in Korea

Starbucks ranked as the food and beverage retail brand with the highest total spending by Korean consumers, while budget coffee chain Mega Coffee recorded the most transactions, according to data released Friday by market analytics firm Wiseapp Retail. Based on a sample analysis of Korean credit and debit card payments, Starbucks topped the list of food and beverage retail brands by total payment value over the six months from September 2025 to February 2026. When Starbucks’ spending was indexed

March 13, 2026

LS Group rides power supercycle to record earnings

LS Group said Wednesday it posted record revenue and operating profit in 2025, driven by strong demand for power infrastructure during the global “electricity supercycle.” The Korean industrial group reported consolidated revenue of 45.7 trillion won ($31.4 billion) and operating profit of 1.49 trillion won last year, marking the highest figures since its establishment in 2003. Revenue and operating profit rose 9.1 percent and 23.1 percent year-on-year, respectively. LS attributed the strong per

March 13, 2026

Standard Chartered leadership gathers in Seoul for strategy talks

Standard Chartered Korea said Friday that senior executives from its parent organization, Standard Chartered, visited Seoul this week to hold a Group Management Team meeting and engage with employees and clients in Korea. The meeting took place from Monday to Wednesday at Standard Chartered Korea’s headquarters in Jongno, central Seoul. The visit included Standard Chartered Group CEO Bill Winters and other senior executives. Standard Chartered said its global leadership regularly holds managemen

March 13, 2026

Nol Universe partners with Woori Bank on prepaid card for foreign tourists

Nol Universe, a South Korean travel and entertainment platform operator, said Friday it has signed a memorandum of understanding with Woori Bank and Kona I to launch a prepaid card service tailored for foreign visitors to Korea. The agreement aims to improve financial accessibility and payment convenience for international tourists. The three companies plan to develop the necessary infrastructure ahead of the card’s official launch in April. The prepaid card will be offered through Nol World, No

March 13, 2026

Samsung Heavy launches US research hub in San Diego with SDSU

Samsung Heavy Industries said Friday it has opened its first research hub in the United States in partnership with San Diego State University, aiming to strengthen technological cooperation and support the revival of the US shipbuilding industry. The new facility, named the SHI-SDSU Advanced Maritime Center (SSAM Center), was established in San Diego. The opening ceremony was attended by about 60 officials, including Samsung Heavy Industries Chief Operating Officer Lee Wang-keun, SDSU Vice Presi

March 13, 2026

AI demand pushes LG Innotek chip substrate lines near full capacity

LG Innotek’s semiconductor substrate business is emerging as a key growth engine, with factories running at 80 percent of capacity as demand rises alongside the expansion of artificial intelligence infrastructure. According to the company’s 2025 business report released Thursday, the average use rate of its semiconductor substrate lines reached 80.8 percent last year, up sharply from 63.2 percent in 2023 and 75.6 percent in 2024. The rebound has driven strong growth in LG Innotek’s Package Solut

March 13, 2026

Mirae Asset US defense ETF tops W100b amid geopolitical tensions

Mirae Asset Global Investments said Friday that the net assets of its Tiger US Defense Top10 ETF have surpassed 100 billion won ($75 million), as rising geopolitical tensions and expectations of higher US defense spending draw investor interest to American defense stocks. According to the Korea Exchange, the ETF’s net assets reached 110.8 billion won as of Thursday, expanding roughly fourfold since the beginning of the year. The fund has gained 21 percent year-to-date, significantly outperformin

March 13, 2026

Krafton, Hanwha Aerospace team up on physical AI venture

Krafton and Hanwha Aerospace said Friday they have signed a memorandum of understanding to jointly develop physical artificial intelligence technology and establish a joint venture aimed at commercializing the technology. Krafton, the South Korean game developer best known for the global hit video game PUBG: Battlegrounds, is expanding its focus beyond gaming into AI and robotics. Hanwha Aerospace, the defense and aerospace arm of Hanwha Group, develops military systems including aircraft engine

March 13, 2026

Foreign stock outflows hit record in February as investors take profits

Foreign investors pulled a record amount of funds from South Korea’s stock market last month as they locked in profits following a rally, central bank data showed Thursday. According to a report on international finance and foreign exchange markets released by the Bank of Korea, foreign investors sold $7.76 billion more Korean securities than they bought in February. The February figure marked the second-largest net outflow on record and ended a five-month streak of net inflows that had continue

March 13, 2026

PM Kim Min-seok meets Vance in Washington to discuss trade, investment plan

South Korean Prime Minister Kim Min-seok met US Vice President JD Vance in Washington on Thursday, where the two discussed bilateral trade issues, including the implementation of a Korea-US investment framework agreed upon by President Lee Jae Myung and US President Donald Trump last year. Vance welcomed the South Korean National Assembly passing the US investment bill, and called for continued close cooperation between the two countries, South Korean the Prime Minister's Office said Friday. "(I

March 13, 2026

Mercedes-Benz Korea partners with chef Son Jong-won in brand campaign

Mercedes-Benz Korea has launched a brand partnership program called “Mercedes-Benz Mate,” collaborating with renowned individuals across fields to communicate the brand’s values to the public in a more approachable way. As the first partner in the program, the company has teamed up with Son Jong-won, a prominent figure in Korea’s fine-dining scene. Son currently operates a French fine-dining restaurant and a Korean restaurant, both of which hold one Michelin star. Under the partnership, Son will

March 13, 2026

STGEN Bio bets W110b on biologics capacity expansion

STGEN Bio, a South Korean biopharmaceutical contract development and manufacturing organization, said Friday it will invest about 110 billion won ($82 million) to expand its biopharmaceutical manufacturing facilities, aiming to strengthen its global position amid rising demand for biologics. The investment will be used to expand the company’s drug substance and drug product production facilities, along with upgrades to related infrastructure. Construction is scheduled to begin in the first quart

March 13, 2026

Korean won falls against dollar amid oil price surge over supply concerns

The South Korean currency fell against the US dollar Friday as global oil prices surged amid heightened tensions in the Middle East. The won opened at 1,490.6 per dollar, down 9.4 won from the previous session. The weakness came as global oil prices spiked again overnight, hovering around $100 per barrel, after Iran's new leader, Mojtaba Khamenei, warned that the Strait of Hormuz would remain closed, raising concerns about supply disruptions and escalating tensions in the Middle East. The foreig

March 13, 2026

Seoul shares open sharply lower as new Iran leader vows to keep Hormuz blockade

South Korean stocks started sharply lower Friday after the new Iranian leader vowed to maintain the blockade of the crucial Middle East waterway, pushing global crude prices toward the $100 level. The benchmark Korea Composite Stock Price Index (KOSPI) fell 170.86 points, or 3.06 percent, to 5,412.39 at the opening bell. The index edged down 0.48 percent Thursday. Overnight, the Dow Jones Industrial Average shed 1.56 percent to its lowest point this year. The tech-heavy Nasdaq Composite fell 1.7

March 13, 2026

Seoul shares close lower on extended Middle East tension; won sharply down

South Korean stocks closed lower Thursday amid escalating tensions in the Strait of Hormuz, which triggered extreme volatility in global oil prices. The local currency fell sharply against the greenback. The Korea Composite Stock Price Index moved down 26.7 points, or 0.48 percent, to close at 5,583.25. Trade volume was heavy at 794.1 billion shares worth 23.6 trillion won ($15.9 billion), with gainers outpacing losers 569 to 321. Foreigners sold a net 2.36 trillion won while individuals bought

March 12, 2026