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Friday, May 9, 2025

BUSINESS

Bank of Korea holds rate steady at 3.5 percent

The Bank of Korea kept its policy rate unchanged Thursday for the fourth consecutive time, holding it at 3.5 percent. It was a widely expected...

Korean streaming platforms face uphill battle against Netflix

“Down with Netflix!” is presumably a slogan uniting all Korean streaming platforms, but they face a harsh reality. Netflix is still ranked at the top...

Strikers bring Hyundai Motor production lines to a halt

Production lines at Hyundai Motor ground to a halt on Wednesday after unionized workers launched a strike. According to the Korean Metal Workers’ Union under...

SM Entertainment’s Lee Soo-man to start new chapter in China

The founder and former chief producer of SM Entertainment Lee Soo-man is starting a new chapter in his career in China after being ousted...

Korean Air offers deficient mileage discount program for LA passengers

Korean Air has launched a mileage discount program for its frequent flyers, but it has faced criticism with the saying "All that glitters is...

Koreans buy into worldwide Threads hype

Korea is buying into the worldwide hype for Threads, with the number of users in the country sharply increasing. The number of daily active users of...

Automative chips in spotlight as EV popularity booms

Electric vehicles' popularity will continue to boost demand and increase prices for automotive chips, as EVs are equipped with more chips than diesel cars. Market...

Draining chip demand encourages SK hynix to sell water facilities

SK hynix plans to sell off its water treatment facilities to secure an estimated 1 trillion won ($766 million) in the face of deteriorating...

Samsung’s quarterly profit dives to 14-year low on chip glut

Samsung Electronics is expected to post its worst quarterly operating profit in 14 years in April-June period as a chip glut continues amid sluggish...

LG Energy inks massive lithium supply deal

LG Energy Solution has signed a massive lithium supply deal with a Chilean company, the battery maker said Friday. With the signing of the agreement,...