Daum Kakao to set up 100-bln-won new investment firm to seek out ventures

South Korea's top mobile messenger operator Daum Kakao said Monday it plans to invest 100 billion won (US$90.8 million) to start a new company that will seek out promising venture companies in and out of the country. The company s...

Korea cuts growth forecast

The South Korean government on Monday downgraded its economic growth forecast for the year 2015 to 3.8 percent from the 4 percent it predicted in July, citing weak consumption and investment amid growing economic uncertainties in ...

City takes aim at Uber

The Seoul Metropolitan Government said Monday that it would further ramp up its efforts to ban Uber, saying the controversial taxi-hailing service was not part of the sharing economy. “Uber does not go hand in hand with the city’...

[SUPER RICH] Lees’ Samsung reign to continue

The global community is closely watching Samsung Group, the country’s largest conglomerate, after it handed over its chemical and defense units to Hanwha Group. Samsung said the move was aimed at streamlining its portfolio ahead ...