KB Kookmin Card said Friday that it has received approval from Cambodia’s Ministry of Commerce to merge its two local subsidiaries -- auto finance firm KB Daehan Specialized Bank and leasing company i-Finance Leasing. Under the merger, iFL will be integrated into KDSB, with the new entity retaining the name KB Daehan Specialized Bank to leverage its brand recognition. “By merging our Cambodian subsidiaries, we have established a foundation for sustainable growth in the global market,

Industry Dec. 20, 2024

HD Hyundai Chairman Kwon Oh-gap has donated 200 million won ($138,000) to his alma mater, Hankuk University of Foreign Studies, to enhance its educational facilities and support scholarships, the company said Thursday. Of the total donation, 150 million won will be allocated to introduce the latest equipment and renovate deteriorating facilities, while 50 million won will fund four students' living stipends. “As an alumnus, I felt it was my duty to give back what I received from socie

Industry Dec. 19, 2024

The KDI School of Public Policy and Management said Thursday that its public administration professor, Kim Soon-hee, has been ranked among the world’s top 2 percent of social scientists in the Elsevier-Stanford University list for the second consecutive year. Affiliated with the Korea Development Institute, the KDI School is a government-run graduate school based in Sejong. Kim joined the School in 2014 after serving as a professor at Maxwell School of Citizenship and Public Affairs, Syrac

Industry Dec. 19, 2024

Korean lender Woori Bank announced Wednesday that its Indonesian subsidiary has signed a memorandum of understanding to provide financial support for PT Krakatau Posco, the Indonesian joint venture of Korea’s steel giant Posco. With plans to offer $200 million in funding, Bank Woori Saudara will support PT Krakatau Posco in areas such as operating funds, supply chain financing, exchange rate hedging and employee loans. Posco is expected to enhance its cost efficiency and maintain financial

Industry Dec. 18, 2024

The HD Hyundai 1% Nanum Foundation held its annual HD Hyundai Honor Awards ceremony on Tuesday, recognizing “citizen heroes” who have selflessly supported those in need. This year’s grand prize was awarded to the Purme Foundation. Since 2005, Purme has been a driving force in supporting people who live with disabilities. It has supported rehabilitation treatments for over 600,000 children and has operated a smart farm that provides employment opportunities for young adults with

Industry Dec. 17, 2024

JobKorea's Klik, a job search service for foreigners, hosted a networking event in Seoul on Thursday. Some 300 participants from 60 countries joined the event to share information about job opportunities and daily life. Recruiters from domestic companies were also present to connect with attendees. To further enhance the experience, Klik employed survey data to match participants with similar academic backgrounds and career interests. Attendees were grouped into broad categories such as inf

Industry Dec. 16, 2024

Daewoong Pharmaceutical announced Thursday that it has partnered with TionLab Therapeutics, Daehan New Pharm and Dalim Biotech to jointly develop a long-acting obesity treatment with a four-week injection interval. The semaglutide-based drug is designed to enhance drug release and durability. Daewoong and its partners will collaborate on non-clinical and clinical trials, drug development, and the regulatory approval processes. Daewoong will integrate TionLab Therapeutics’ long-acting drug

Industry Dec. 12, 2024

Mirae Asset Global Investments announced Wednesday that its total global exchange-traded fund net assets have exceeded 200 trillion won ($139 billion). Mirae Asset currently manages 624 ETF products across 13 countries, including Korea, the US, Canada, Australia and Japan. In just three years, after surpassing 100 trillion won in 2021, its ETF net assets have doubled to 202 trillion won, placing the company 12th among global ETF operators. Mirae Asset was the first Korean asset manager to list E

Industry Dec. 11, 2024

South Korean logistics company Hanjin Logistics said Tuesday that it has hosted its “Unboxing Day” event, aimed at sharing marketing strategies and insights to help e-commerce sellers enter the global market. The event, which attracted around 390 attendees, featured an awards ceremony, panel discussions and networking opportunities. Following last year's inaugural event, Hanjin continued to honor key clients with awards. In the “Heritage” category, four clients were

Industry Dec. 10, 2024

Milwaukee Tool Korea said Tuesday that it has launched a compact cordless impact wrench, powered by a 12-volt system. Founded in 1924 in Milwaukee, Wisconsin, the power tool maker has earned a reputation for producing durable, high-quality tools under the slogan, “Nothing But Heavy Duty.” The company expanded its global presence by establishing a Korean branch in 2022 and has since experienced steady growth here. Its new product, 12V Fuel Impact Wrench 1/2" III, delivers enhance

Industry Dec. 10, 2024

Mirae Asset Global Investments announced Monday that its European exchange-traded fund assets under management have exceeded $2 billion, just four years after entering the market in late 2020. Global X EU, the ETF subsidiary of Mirae Asset, manages 42 ETF products across Europe as of Thursday. This year, the company achieved a remarkable growth rate of nearly 136 percent year-on-year, with AUM rising from $850 million to $2 billion. Europe is the world’s second-largest ETF market, followin

Industry Dec. 9, 2024

Krafton, the South Korean gaming giant behind the popular title PUBG: Battlegrounds, announced Monday the launch of the Krafton Jungle Game Tech Lab, aimed at fostering game programmers as part of its corporate social responsibility efforts. The Game Tech Lab’s curriculum will emphasize key values such as immersion, self-directed learning and team-based collaboration, the company said. Participants will engage in an intensive, 24-week program designed to build expertise in areas including

Industry Dec. 9, 2024

South Korean biopharmaceutical firm Celltrion said Monday that it has received approval from Health Canada for Omlyclo, its omalizumab biosimilar referencing Xolair, designed to treat allergic asthma and chronic spontaneous urticaria. Celltrion has obtained approval for the full range of indications covered by the original drug, including allergic asthma, chronic rhinosinusitis with nasal polyps and chronic idiopathic urticaria. The company supported its application with a global phase 3 clinica

Industry Dec. 9, 2024

Citibank Korea on Thursday hosted the Korea Digital Leaders Summit 2024 to explore the future of the digital market and support companies’ global expansions. The event gathered executives from Korea’s digital firms across industries such as e-commerce, gaming, tourism and finance. Key speakers included officials from Krafton, Silicon2, KOTRA and Smilegate Investment who delivered presentations on their insights into current market trends. Kim Jin-wook, chief economist at Citibank Kor

Industry Dec. 5, 2024

Crossfire and Lost Ark developer Smilegate said Wednesday that it had made a strategic investment in Absurd Ventures, a media and entertainment firm in the US, aiming to expand its presence in the global market. The size of the investment was not revealed immediately. Absurd Ventures was founded last year by Dan Houser, who spent over 20 years at Rockstar Games as the creative director for iconic game series like Grand Theft Auto and Red Dead Redemption. Houser is now focused on creating success

Industry Dec. 4, 2024