The Korean Federation of Community Credit Cooperatives, the nation’s leading mutual financial institution, said Wednesday it successfully hosted a three-day workshop in Kenya, to discuss ways to foster financial inclusion and a transition to sustainable growth in Africa. The workshop titled “Cooperatives for a Sustainable Transition in Africa” kicked off in Nairobi on Monday in collaboration with the International Cooperative Alliance and the University of Leuven in Belgium.

Kolmar BNH, the health functional food developer and manufacturer under Kolmar Korea, announced Monday it has completed its third manufacturing plant in the city of Sejong, securing the largest annual production capacity in the industry. The four-story plant, built on a site occupying some 20,024 square meters in Sejong, has a total floor area of 24,871 square meters. The plant is capable of generating 1.8 billion units of solid-type health functional foods (tablets or pills) and 450 million p

Kakao Entertainment, a content arm under Korea’s IT giant Kakao Corp., said Friday that it proposed Japan's manga industry take joint legal action to tackle illegal distribution of webtoons and web novels. In the latest exchange session jointly held by Korea’s Copyright Overseas Promotion Association (COA), an organization of major Korean content companies for overseas copyright protection, and Japan’s Content Overseas Distribution Association (CODA), a leading Japanese

Korea Aerospace Industries announced Friday that it has inked an agreement with US space firm SpaceX to launch South Korea's next-generation mid-sized satellite No. 2 into orbit in 2025. With the latest deal, KAI has entered a second partnership with SpaceX following a similar agreement signed in July 2021 to launch the next-generation mid-sized satellite No. 4. Under the agreement, both No. 2 and No. 4 satellites will be mounted on Space X’s Falcon 9 rocket for launch into space orbi

Kyobo Life Insurance, one of Korea's leading life insurers, has launched a cost-effective renewable child insurance product that provides lifetime coverage starting from the prenatal period to facilitate the healthy growth of children. The new plan offers tailored protection against major health conditions and diseases throughout one’s life cycle from pregnancy and childbirth to adolescence. Upon turning 30, subscribers can transition to adult coverage, renewing the period up to the a

Buoyed by its rapidly expanding global presence, Woori Bank has vowed to achieve up to 25 percent of its net profit from overseas sales by 2030. As of November, Woori runs 469 global branches across 24 countries. Its global division logged an annual asset growth of 9 percent over the last three years, reporting a net profit of $340 million in 2022. To continue the upward trend, it plans to pour resources into its three units in the burgeoning Southeast Asian market -- Indonesia, Vietnam and Ca

Kakao Bank, Korea’s largest internet-only bank, has been leading efforts to achieve financial inclusivity in the industry, by developing various customer-friendly products and services. Since its founding in 2017, it has been catering to diverse financial needs by rolling out innovative savings accounts such as group savings accounts, 26-week and one-month installment deposit accounts, as well as tailored loan products for those with low credit scores. Buoyed by its user-friendliness and

JB Financial Group has accelerated its digital transformation efforts to bring more convenient options to a broader customer base by seeking innovative collaboration projects. Under the leadership of Kim Ki-hong, the group's chairman, the group has achieved record earnings over the past few years. To further expand its presence in the market and customer base, the banking group also tapped into the fintech and online banking industries. In July, it inked a partnership agreement with Seoul-b

Korean Air, South Korea's leading airline, said Wednesday that it has ordered 20 additional Airbus A321neo aircraft, as part of efforts to deliver a modern flight experience to its customers. With the latest order, the total number of its A321neo aircraft has reached 50. The Airbus A321neo is a small-sized, single-aisle airliner with a total of 182 seats. Its eight "Prestige" seat options in business class allow travelers to relax comfortably on a 180-degree fully horizontal sea

GM Korea, the Korean arm of the US auto giant General Motors, logged robust export sales in October, taking up nearly 20 percent of the nation’s total automobile exports, industry estimates showed Monday. Out of the total 225,391 Korea-made vehicles exported in October, 42,623 units or 18.9 percent were accounted for by GM’s two popular SUV models -- the Chevrolet Trailblazer and the Trax Crossover -- according to the Korea Automobile Manufacturers Association. GM Korea's number

SK Group Chairman Chey Tae-won reinforced his commitment to supporting Busan’s bid to host the 2030 World Expo on Thursday, days before the final voting takes place in Paris to choose the host. Busan, South Korea's second-largest city, is competing against Saudi Arabia’s Riyadh and Italy’s Rome to host the global event. “When we first jumped into this international race, the prospect of Busan winning the expo bid seemed almost impossible," Chey wrote in an Insta

Top officials from the Bank for International Settlements and the Bank of Korea visited Naver 1784, the tech giant's second headquarters, to discuss ways to integrate artificial intelligence technology in the financial sector, Naver said Friday. BIS General Manager Agustin Carstens and BOK Senior Deputy Gov. Ryoo Sang-dai were among the officials visiting the Naver's second headquarter building in Seongnam, Gyeonggi Province. The officials were greeted by Naver's top executive

Samsung Electronics said Friday it is launching an outdoor advertisement campaign in major cities in Europe, including London and Madrid, to ramp up promotional efforts for Busan’s bid to host the 2030 World Expo. The ads feature famous attractions in the South Korean port city. In London, cabs sporting similar wrap-around ads will drive across the city, the company said. The tech giant will run the campaign through Nov. 28, when the host city of the global event is to be determined in a v

KB Financial Group held a conference Thursday, diagnosing the current market situation and sharing with its individual and corporate clients the group’s future investment philosophies to tackle uncertainties surrounding the global market. Titled “KB Investor Insights 2024,” the event was held at the KB Kookmin Bank's headquarters in Seoul, under the theme “anti-fragility," which refers to an ability to respond to and gain from uncertainties, and disorder. The te

Kakao Bank, an internet-only bank, launched promotional events on Wednesday for overseas remittance service users, as it recently hit over a cumulative 3 million international wire transfers. Both new and existing customers sending money internationally will automatically receive a 50 percent discount on transfer costs, with no limits on frequency, transfer amount and recipient countries. The event will run until Dec. 20. The current fee, in the range of 5,000 ($3.86) to 10,000 won, will be halv

South Korea’s largest chemical firm LG Chemical is ramping up efforts in social contribution projects as part of its ongoing environment, social, and corporate governance campaign. In August 2020, LG Chem declared its new ESG vision called Green Connector, unveiling its commitment to four key areas: education, ecosystems, economy and energy. To pursue this vision, LG Chem launched its flagship online education program Like Green later that year to educate elementary and middle school stude

SK Telecom’s decadeslong involvement in Korean esports has once again reaped dividends -- at least in glory -- as its T1 won the 2023 League of Legends World Championship title for a fourth time Sunday, defeating Weibo Gaming of China. The top telecom carrier in terms of membership launched T1 in 2004 when the nation’s esports industry was still in its nascent stage, as part of efforts to better engage with younger generations. As LoL, the multiplayer online battle arena game, star

iStaging Asia, a joint venture between South Korean company I&OK and Taipei-based iStaging, said Thursday it has applied for a total of three patents in the field of three-dimensional spatial web transformation. The patents include: 3D spatial transformation from a 2D model, 3D spatial editing and 3D floor plan rendering. The technologies will enable businesses to transform their products into 3D models by simply recording a video of a product with a smartphone, which also reduces costs and ti

South Korean oil refiner S-Oil on Wednesday donated a fund of 270 million won ($207,408) at a ceremony held at the headquarters of the Korea Coast Guard in Incheon, together with the Korea National Council on Social Welfare, as part of its ongoing program to support the nation’s coast guard officers. The fund will be used to honor coast guard officers it deems "heroes," support medical treatment for coast guard officers and provide tuition scholarships for children of officers ki

Representatives from South Korean steel giant Posco on Wednesday met with government officials to explore ways to boost Korean startups and revitalize the regional economy, discussing the performance of its in-house venture development platform and its future outlook. The meeting took place at Change Up Ground in Pohang, North Gyeongsang Province, one of its venture incubator facilities, with more than 40 people in attendance. It included Chairperson Woo Tong-ki of the Presidential Committee for