Leadership reshuffle looms as Samsung struggles to remain atop

Samsung Electronics, facing challenges from its smaller rivals, is expected to carry out a major personnel reshuffle later this year, according to industry sources Monday. The world’s largest maker of memory chips and smartphones has been battling growing competition at home and abroad. When it comes to artificial intelligence chips, for instance, it has been outpaced by its crosstown rival SK hynix, as it failed to secure an earlier edge. “Samsung’s losses in HBM and foundry a

IndustryOct. 28, 2024

Seoul shares rise over 1% on strong Samsung Electronics

South Korean stocks rose more than 1 percent to hit a two-week high Monday led by a sharp rebound in top-cap Samsung Electronics shares. The Korean won gained against the US dollar. The benchmark Korea Composite Stock Price Index rose 29.16 points, or 1.13 percent, to 2,612.43, marking the highest closing price since Oct. 15 when the bourse finished at 2,633.45. Trade volume was slim at 327.6 million shares worth 9 trillion won ($6.5 billion), with winners outnumbering losers 615 to 271. Institu

MarketOct. 28, 2024

Year-end melodies to light up the winter season

As the year draws to a chilly close, it's time to book year-end concerts by your favorite artists. Peppertones, a duo known for bright and warm music, will cap off their 20th debut anniversary year with a year-end concert. The band will host "Twenty" on Dec. 14-15 at Daeyang Hall of Sejong University, Gwangjin-gu, Seoul. "Twenty" marks Peppertones' 20th anniversary and follows their successful sold-out tour in July, "Party Plenty." Singer Crush's ye

PerformanceOct. 28, 2024

36-week abortion an apparent murder: police

Doctors accused of performing a late-term abortion at 36 weeks could face murder charges, police said Monday, concluding in their investigation that the fetus was delivered alive. The case, which has drawn significant attention, involves a YouTuber in her 20s who sought pregnancy termination and later shared her experience online. “If a fetus is born alive, the case is subject to the crime of murder. After delivery, it is a living person," said Woo Jong-soo, head of the National Off

Social AffairsOct. 28, 2024

Bipartisan panel formed to address livelihood issues amid tension over first lady probe

The ruling People Power Party and the main opposition Democratic Party of Korea on Monday officially launched a joint consultative body for livelihood issues amid persistent tensions over various controversies surrounding the first lady. The establishment of the joint consultative body aimed at carrying out common policy pledges comes nearly two months after an agreement was made between leaders of the two rival parties early last month during their first official talks. The consultative body wi

PoliticsOct. 28, 2024

Deoksugung exhibition to explore traditional crafts

An annual exhibition of traditional Korean crafts by select master artisans will take place from Tuesday to Nov. 10 at Deoksugung, one of the five palaces of the Joseon era (1392-1910) in Seoul. The exhibition entitled “Brilliance” will showcase 24 pieces by four artisans: Park Seon-hee, a “maedeupjang,” or decorative knots master; Ahn Yoo-jin, a “dancheongjang,” or decorative painting mater; Yoon Soon-il, a “somokjang,” or master carpenter; and Le

Arts & DesignOct. 28, 2024

Korea Zinc dispute to drag on without clear winner

The first round of the power struggle over the world’s largest zinc smelter, Korea Zinc, has wrapped up without a solid winner, the results of a tender offer launched by the company's management showed Monday. The dispute is expected to continue as both sides have failed to secure a majority stake in the company. The current management of Korea Zinc, represented by Chairman Choi Yun-beom, secured an additional 2.33 million shares in the company through a tender offer that closed Wedne

IndustryOct. 28, 2024

S. Korea to hold talks with NATO allies amid NK troops in Russia

South Korea is set to convene its first 2+2 foreign and defense ministerial meeting with the United States in more than three years, paired with inaugural 2+2 talks with Canada, at a critical juncture marked by concerns of possible North Korean troop deployment to the Ukraine-Russia combat zone. The high-stakes meetings will take place in a pivotal week of diplomacy and include top diplomats and defense leaders from founding NATO members -- staunch allies of Ukraine since Russia's invasion.

Foreign AffairsOct. 28, 2024

[Exclusive] Thailand's No. 1 food delivery platform to set up R&D center in Korea

Line Man Wongnai, Thailand's leading food delivery app and digital solutions platform, is expected to open a research and development center in Korea in December in a move to tap into the nation’s deep pool of tech talent ahead of its planned stock debut next year. In an exclusive interview with The Korea Herald on Friday, the company’s Chief Financial Officer Chung In-young revealed that the company is actively recruiting Korean talent particularly in three sectors -- fintech

IndustryOct. 28, 2024

When two worlds collab: K-pop flexes power with global stars

Collaborations between K-pop idols and global pop stars have evolved into a mutually beneficial relationship that elevates both sides in unprecedented ways. Once seen primarily as a strategy for K-pop stars to break into Western markets, these partnerships now enable major pop icons to harness the power of K-pop fandoms -- known for their intensity, organization and unwavering dedication. K-pop fans, renowned for their streaming efforts and coordinated promotions, have become a valuable asset fo

K-popOct. 28, 2024

Seoul aims to halve current suicide rate by 2030

The Seoul Metropolitan Government introduced a set of measures on Monday -- including increasing the staff of its 24-hour call center for people struggling with suicidal impulses -- to reduce its current suicide rate by 50 percent by 2030. It aims to shift its current suicide prevention policy, which currently solely focuses on high-risk groups, to addressing the broader public. “We want to shift the focus of our policy to a more comprehensive approach that empowers our citizens to take ca

Social AffairsOct. 28, 2024

Taeyeon to release new album ‘Letter To Myself’ in November

Taeyeon of the legendary K-pop girl group Girls' Generation will release her sixth EP, “Letter To Myself,” on Nov. 18. She posted a short clip teasing her upcoming release on her official YouTube channel on Monday. The clip shows Tayeon writing a letter in front of a window in a room. The album features six tracks, including title track "Letter To Myself." This album comes approximately a year after her previous release, “To. X,” which continues to enjoy re

K-popOct. 28, 2024

Veteran actors Shin Gu, Kang Boo-ja to receive cultural merit medals

Veteran senior actors Shin Gu and Kang Boo-ja will receive the Eungwan Order of Cultural Merit, the second-highest medal, at the 2024 Korea Popular Culture and Arts Awards to be held at the National Theater of Korea in Seoul on Thursday. According to the Culture Ministry and the Korea Creative Content Agency, a total of 31 celebrities including singers, actors, comedians, voice actors, screenwriters and musicians will receive awards this year. The annual awards, now in its 15th edition, are the

CultureOct. 28, 2024

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

CompaniesOct. 28, 2024

[Herald Interivew] Mercedes stands by Farasis batteries in EV fire scrutiny

STUTTGART, Germany -- Following a fire involving a Mercedes-Benz EQE electric vehicle in South Korea in August, executives are defending their use of batteries from Chinese supplier Farasis Energy, even as investigations continue to probe the cause of the incident. The August fire, which occurred in the basement of an apartment building in Incheon, has raised questions around the safety of the vehicle's battery cells and the automaker’s quality control practices. During an Oct. 21 med

MobilityOct. 28, 2024

103 autumn foliage paths in Seoul

Seoul City introduced 103 streets and trails where pedestrians can enjoy the fall foliage of around 70,000 deciduous varieties, including maple, ginkgo, cherry and metasequoia trees. The list revealed last Wednesday introduces well-known fall foliage spots such as Deoksugung-gil along the wall of Seoul’s Deoksugung, Songpanaru Park around Seokchon Lake in southern Seoul and Ansan Trail in Seodaemun-gu, western Seoul, as well as routes for a brief stroll in nearby residential areas. The t

TravelOct. 28, 2024

Stroke patients in Korea show more history of smoking, diabetes: report

Diabetes and smoking are common causes of strokes, which can damage blood vessels and cause death, and stroke patients in South Korea have a higher rate of both stroke factors compared to Western countries, a study showed Monday, suggesting a need to strengthen prevention efforts to improve public health outcomes. According to an analysis of stroke treatment patterns in the country for 2021 by the Korea Disease Control and Prevention Agency's National Institute of Health, 35 percent of st

Social AffairsOct. 28, 2024

Mercedes-Benz raises Drive Pilot speed limit

Mercedes-Benz announced Monday that it is upgrading its automated driving system, Drive Pilot, allowing it to operate at speeds of up to 95 kilometers per hour on German motorways. The upgrade is expected to be available in early 2025, following this year’s anticipated approval from Germany’s Federal Motor Transport Authority. With this update, Drive Pilot will become the fastest Level 3 automated driving system in a production vehicle. The enhanced system will allow drivers to hand

MobilityOct. 28, 2024

Posco earns top marks for shared growth with SMEs

South Korean steel giant Posco Group said Monday that it has received the highest grade in the 2023 Shared Growth Index Evaluation for five consecutive years. Earlier this month, the 80th Korea Commission for Corporate Partnership released the win-win index for 218 large-sized companies. The index encourages shared growth within the industry by measuring large enterprises’ efforts to make room for small and medium-sized enterprises. Posco scored highly for its clear and fair transaction pr

IndustryOct. 28, 2024

Two injured after bus causes gazebo collapse

Two people were injured Sunday morning when a passing bus precipitated the collapse of a suspended pavilion structure in rural Yangyang, Gangwon Province, according to fire officials. The incident occurred at approximately 9:21 a.m. Sunday when a bus's roof snagged wiring that was supporting a gazebo-style structure in front of the Daechi-ri town hall, fire officials said. The pavilion subsequently collapsed, striking two individuals who were underneath. The victims, identified only as wome

Social AffairsOct. 28, 2024