IMF says Korean currency should be further appreciated

The South Korean currency is undervalued in the range of 2 percent to 8 percent, theInternational Monetary Fund said in its latest report, encouraging further appreciation of the won over the medium term.The IMF report dated Thurs...

KT CEO calls for unity of affiliates

KT CEO Hwang Chang-gyu held a meeting with the top executives of KT’s affiliates for the first time since taking the helm of Korea’s second-largest mobile carrier last December.Hwang emphasized the importance of unity and manage...

Hyundai to launch EV sedan in 2016

Hyundai Motor will be making a comeback in the electric car market, a segment that the carmaker has long ignored after the dismal failure of its first full-electric BlueOne compact back in 2010. According to company executives on ...

NongHyup’s rise changes Korea’s financial landscape

NongHyup Financial Group finalized its takeover of the brokerage units of Woori Financial Group last week, signaling a major shake-up in the local financial industry. By acquiring and combining Woori Investment & Securities, Woori...