Most Popular
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103 autumn foliage paths in Seoul
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Seoul aims to halve current suicide rate by 2030
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When two worlds collab: K-pop flexes power with global stars
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N. Korean troops may deploy to Ukraine-Russia front sooner than expected: Yoon
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Bipartisan panel formed to address livelihood issues amid tension over first lady probe
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Leadership reshuffle looms as Samsung struggles to remain atop
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Selected NK troops, generals may be deployed to front lines: NIS
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[Exclusive] Thailand's No. 1 food delivery platform to set up R&D center in Korea
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[Herald Interview] Shim Eun-kyung says 'The Killers' became turning point in career
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'1 million' Christians join anti-LGBTQ+ marriage rally
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Hanon Systems to build 1st electric compressor plant in North America
Hanon Systems, a Korean automotive thermal management supplier, announced plans to build a new manufacturing plant for electric compressors in Ontario, Canada, on Tuesday to cope with growing demand from global automakers. The new plant will mark the company’s first North American facility to produce electric scroll compressors, which are essential components for thermal management in hybrid and battery electric vehicles. Hanon Systems will invest $111 million in the new plant to produce u
Oct. 29, 2024
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Innocean hosts 2024 Partners Day for shared growth
Innocean, a South Korean marketing agency affiliated with Hyundai Motor Group, held its annual Partners Day event Tuesday. The event, which brought together around 180 executives and employees from partner firms, provided a platform for open dialogue and strategic discussions on shared growth, according to the company. This year’s gathering featured presentations on Innocean’s collaborative initiatives and introduced a range of new programs aimed at enhancing partner capabilities. Th
Oct. 29, 2024
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Posco, JSW team up to build integrated steel facility in India
South Korean steelmaker Posco Group said Tuesday it plans to establish a comprehensive steel manufacturing facility in India in partnership with Indian steel giant JSW Group. The facility will incorporate core processes -- ironmaking, steelmaking and rolling -- aiming for an annual production capacity of 5 million tons. Odisha, located on India’s eastern coast, is currently being considered as the site for the facility, with plans for future capacity expansion, the company said. The joint
Oct. 29, 2024
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LG Energy Solution to cut down investment next year
LG Energy Solution will tighten its belt next year to cope with uncertain market conditions due to the slowing growth of the electric vehicle sector, the Korean battery maker said Monday as it announced its third-quarter earnings. The company posted 6.88 trillion won ($4.97 billion) in sales in the third quarter of this year, down 16.4 percent on year. Its operating profit was 448.3 billion won, down 38.7 percent on year. The company would have logged a quarterly operating loss of 17.7 billion
Oct. 28, 2024
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Hanwha, HD Hyundai vie for Poland’s $2.7b submarine program
Hanwha Ocean and HD Hyundai Heavy Industries -- Korea’s two leading shipbuilders under conglomerates Hanwha Group and HD Hyundai, respectively -- are ramping up their efforts to win a $2.7 billion submarine procurement contract from Poland. According to HD Hyundai, Tomasz Szubrycht, commandant of the Polish Naval Academy, visited HD Hyundai Heavy Industries’ Ulsan shipyard on Thursday to assess the shipbuilder’s latest submarines and related technologies. HD Hyundai presented a
Oct. 27, 2024
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Posco completes Argentina’s first lithium hydroxide plant
Posco Holdings announced Sunday it has completed the first phase of its lithium hydroxide plant in Argentina, a key step in securing a stable supply of the key material for electric vehicle batteries. Located in Guemes, Argentina, the plant will produce 25,000 tons of lithium hydroxide annually, sourced from the lithium-rich Hombre Muerto salt flat, where Posco holds mining rights. The output is enough to power 600,000 EVs, making it the largest brine lithium facility operated by a single compan
Oct. 27, 2024
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Hyundai Motor's Q3 profit missses estimates
Hyundai Motor Company reported 3.58 trillion won ($2.5 billion) in third-quarter operating profit Thursday, down 6.5 percent from the same quarter last year and missing the market consensus of 3.9 trillion won. The automaker explained in a conference call that a proactive warranty extension for the North American Grand Santa Fe, a sport utility vehicle, caused a provision of about 320 billion won and affected the lower-than-expected operating profit for the July to Sept. period. Despite the dip
Oct. 24, 2024
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[From the Scene] S-Oil’s Shaheen project on track for 2026 completion
ULSAN -- The construction site of S-Oil’s Shaheen project at its Onsan plant in Ulsan showed little to no activity Tuesday afternoon. Although the day’s workflow had seemingly stopped due to heavy downpours in the morning, the officials from S-Oil and Hyundai Engineering & Construction said the building process of the Shaheen project had already reached 40 percent completion. “Four major construction firms -- Hyundai E&C, Hyundai Engineering, Lotte E&C and DL E&
Oct. 23, 2024
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SPC invited to Macron’s exclusive dinner in Paris
South Korean bakery giant SPC Group said Wednesday that President Hur Jin-soo attended a dinner banquet hosted by French President Emmanuel Macron at Elysee Palace in Paris earlier this week. He was the only Korean business leader to be invited to the exclusive event marking the 60th anniversary of SIAL Paris, one of the world’s largest food trade fairs. The dinner brought together around 40 global business leaders from major food and distribution companies, including the Netherlands&rsquo
Oct. 23, 2024
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Daewoo E&C eyes bigger footing in Indonesia
Daewoo Engineering & Construction Chairman Jung Won-ju met with former Indonesian President Joko Widodo to explore new business ventures in the country, the company said Tuesday. The meeting took place at the presidential palace, Istana Merdeka, in Jakarta on Friday -- the last day of Widodo's term. During the meeting, Jung expressed appreciation for Widodo’s presidency which has enabled Indonesia to achieve steady economic growth through development policies related to social i
Oct. 22, 2024
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APR expands K-beauty influence in Hong Kong
South Korean beauty company APR announced Tuesday that it has strengthened its presence in Hong Kong’s competitive market through strong sales from both a pop-up store and a major e-commerce platform. Earlier this month, APR’s flagship skincare brand, Medicube, launched on HKTVmall, Hong Kong’s largest online shopping platform, generating 180 million won in sales within just three days. The brand’s success continued with live broadcasts featuring popular products like the
Oct. 22, 2024
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8 out of 10 companies support raising retirement age: survey
Eight out of 10 businesses support a proposal to raise the mandatory retirement age for employees, currently set at 60, according to a survey released Monday. The survey, conducted by online recruiter Saramin among 461 companies, also found that the preferred new retirement age averages 65.7 years, with more than half of respondents, 57.9 percent, choosing 65 as the ideal age. Support for allowing older workers to stay in the workforce longer is gaining momentum in South Korea, as the country is
Oct. 22, 2024
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Doosan attempts business restructuring plan again
Doosan Group announced Monday a revised business realignment plan to go ahead with its earlier bid to incorporate Doosan Bobcat into Doosan Robotics as a subsidiary as the conglomerate looks to create better synergy between its affiliates to expand businesses. The two boards of Doosan Enerbility, the parent company of Doosan Bobcat with a 46 percent stake in Doosan Bobcat, and Doosan Robotics approved the plan to spin off a new company that will own Doosan Bobcat’s shares from Doosan Enerb
Oct. 21, 2024
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Hanjin Logistics eyes bigger footing in Eurasisa
Hanjin Logistics, an affiliate of South Korean airline-to-logistics conglomerate Hanjin Group, said Monday that it is strengthening its logistics business in Eurasia, with a particular focus on Uzbekistan. According to the company, Hanjin Logistics CEO Noh Sam-sug and President and Chief Marketing Officer Emily Cho visited Uzbekistan from Oct. 13 to Tuesday as part of their overseas management initiative. This time, the visit aimed to assess logistics conditions and strengthen relationships with
Oct. 21, 2024
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Daewoo E&C wins W1tr plant project in Turkmenistan
South Korean builder Daewoo Engineering & Construction has been selected as the winning bidder for a mineral fertilizer plant project in Turkmenistan, valued at approximately 1 trillion won ($730 million), according to the company Monday. The project involves the construction of a mineral fertilizer plant in Turkmenabat, 450 kilometers east of the capital Ashgabat. The plant will have an annual production capacity of 350,000 tons of phosphate fertilizer and 100,000 tons of ammonium sulfate,
Oct. 21, 2024
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LG Chem to develop plant-based cosmetics ingredient
LG Chem said Thursday that it plans to commercialize an eco-friendly ingredient derived from plant-based oils for cosmetic products, becoming the first to do so. The South Korean chemicals giant is set to develop functional cosmetics using 100 percent bio-based 3-hydroxypropionic acid, a compound produced through the microbial fermentation of plant materials. This marks the first time 3HP will be applied as a cosmetics ingredient. While 3HP is considered as an innovative bio-material with vast p
Oct. 17, 2024
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Job Korea’s Klik to host networking event for foreign talent
Klik, Korea’s largest foreign talent recruitment service, operated by Job Korea, announced Wednesday that it will host a networking event for international students and job seekers on Oct. 24. Organized to ease the often difficult process of job hunting for foreigners and create stronger ties within Korea’s expatriate community, “Klik Happy Hour” will offer practical tips for job seekers, including guidance on how to effectively use the Klik platform. In addition to infor
Oct. 16, 2024
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[Photo news] Deacon whisky debuts in Korea
Pernod Ricard Korea on Tuesday debuted its premium blended Scotch whisky, The Deacon, in collaboration with Sovereign Brands. The whisky blends peaty Islay and fruity Speyside varieties, offering a smoky yet sweet flavor. "The Deacon captures our innovative style, delivering luxury, uniqueness, complexity and balance, while being easy to enjoy," said Brett Berish, CEO and founder of Sovereign Brands, at a showcase event held in Seoul on Tuesday. (Pernod Ricard Korea)
Oct. 15, 2024
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Hanwha eyes another shipyard takeover in US
Hanwha Group, South Korea’s defense-to-energy conglomerate, is looking to expand its shipbuilding and maritime businesses in the United States as it appears to be contemplating a second American shipyard acquisition. Mike Smith, who was appointed as the CEO of Hanwha Defense USA in August, a US subsidiary of Hanwha Aerospace, said in Washington last week that Hanwha is “not done” when asked whether Hanwha’s purchase of Philly Shipyard was a one-time deal. Hanwha Group ann
Oct. 15, 2024
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Paris Baguette opens 600th overseas store in Canada
The Korean bakery brand Paris Baguette has opened its 600th overseas store, the newest one in Toronto, Canada, just a year after celebrating its 500th store, the brand's company SPC Group announced Tuesday. This new location marks Paris Baguette’s seventh store in Canada. Paris Baguette has been expanding rapidly over the past year, recently securing agreements to enter new markets in Southeast Asia, including Thailand, Brunei and Laos. By the end of this year, the brand plans to open
Oct. 15, 2024