Finance chief vows tighter control on household debt

Finance Minister Choi Sang-mok vowed Thursday to curb snowballing household debt and thoroughly control the payment crisis involving e-commerce platforms Tmon and WeMakePrice. The nation's household debt has been on fast growth, sparked by a rise of mortgage loans with the increasing number of housing transactions since around June, Choi said at a meeting of economy-related ministers held at the governmental complex in central Seoul. "The government will work to stably control the risi

EconomySept. 12, 2024

[Photo News] Making Songpyeon for Chuseok

S-Oil CEO Al-Hejazi (right) poses for a photo with a child while making Songpyeon, a traditional Korean halfmoon-shaped stuffed rice cake, in collaboration with the Loveaid Foundation at the company’s headquarters in Mapo-gu, Seoul, on Thursday. With the help of international students from Saudi Arabia and children from the company child care facility, the CEO and 150 company officials prepared Songpyeon and gift bundles worth 60 million won ($44,800) for low-income households. Since 2007,

IndustrySept. 12, 2024

New season, new members, new ideas: Global Biz Forum kicks off fall run

The 6th edition of The Korea Herald’s Global Business Forum kicked off its three-month run in Seoul on Wednesday, with a packed agenda aimed at sparking discussion on global business trends and opportunities in an era of rapid change. The forum will convene weekly on Wednesdays, except on public holidays, for a total of 13 sessions, to facilitate knowledge exchange among global business leaders, finance experts, academics, diplomats and top civil servants. The goal is to build valuable

PeopleSept. 12, 2024

Seoul mulls removing W110b Sewoon walkway

The Seoul Metropolitan Government is mulling removing an elevated walkway at Sewoon Shopping Center in central Seoul, which cost the city government 110 billion won ($82 million) for its construction. The walkway which opened only two years ago has sparked "public discontent," said the city government, citing issues like inadequate sunlight underneath the walkways and problems such as water leaks. By removing the walkway, the city plans to enhance the ground-level pedestrian pathways.

Social AffairsSept. 12, 2024

PM vows stern action over 'blacklist' of nonstriking doctors

Prime Minister Han Duck-soo on Thursday vowed to take stern action against those behind a "blacklist" of nonstriking doctors and medical students, amid intensifying tensions between the government and the medical community. During a central disaster response meeting, Han discussed allegations of a blacklist created by striking doctors to mock colleagues who have refused to participate in the strike, which has been ongoing since February. Calling it a "cowardly act," Han descr

Social AffairsSept. 12, 2024

Life sentence finalized for killer in Sillim rampage

The Supreme Court on Thursday finalized life imprisonment for 34-year-old Cho Seon who carried out a stabbing rampage near Seoul's Sillim Station in 2023, leaving one person dead and three others injured. The top court upheld lower courts' decision to sentence Cho to life in prison, finding him guilty on multiple charges including murder, attempted murder and contempt. The court also ordered him to be tracked via an electronic ankle monitor for 30 years, with or without parole. "

Social AffairsSept. 12, 2024

Samsung’s yearly dilemma looms: Exynos vs. Snapdragon

A seasonal dilemma looms over Samsung Electronics’ flagship Galaxy S phones: using more its own Exynos processors or sticking to rival Qualcomm’s Snapdragon chips. Samsung has poured considerable resources for years into equipping its most important smartphone lineup with its own chipset so that it could expand its presence not just in chip production but also in chip design, while reducing production costs. But industry sources say that the upcoming Galaxy S phones, tentatively call

IndustrySept. 12, 2024

Nvidia CEO hints at possibility using Samsung to make GPUs

Nvidia CEO Jensen Huang raised the possibility of fabricating its cutting-edge graphic processing units at foundries other than Taiwan-based TSMC, making Samsung Electronics a likely alternative. At Goldman Sachs Communacopia and Technology Conference in San Francisco, California on Wednesday, Huang said he is willing to consider other companies to produce Nvidia's chips "if necessary," acknowledging the brewing geopolitical tension between Taiwan and China. "We use them (TSM

IndustrySept. 12, 2024

S. Korea asked to join Latvia-led drone coalition for Ukraine

Latvia has asked South Korea to join a global coalition to supply Ukraine with thousands of drones, according to officials in Seoul on Thursday, as military drones are becoming increasingly critical in its ongoing war against Russia. The invitation was made during a bilateral meeting between the visiting Latvian Foreign Minister Baiba Braze and her South Korean counterpart Cho Tae-yul, held Monday in Seoul. “I have invited the Republic of Korea to join the Drone Coalition established by

Foreign AffairsSept. 12, 2024

Samsung produces industry’s first 1-terabit QLC 9th-gen V-NAND

Samsung Electronics, the world's No. 1 memory chipmaker, said Thursday it has begun mass production of its one-terabit quad-level cell ninth-generation vertical NAND, solidifying its leadership in the high-capacity and high-performance NAND flash market. It is the industry’s first mass production of QLD ninth-generation V-NAND, followed by its first triple-level cell ninth-generation V-NAND production in April this year. “Kicking off the successful mass production of QLC ninth-g

TechnologySept. 12, 2024

Pulmuone launches frozen gimbap in China

South Korean food giant Pulmuone said Thursday that it has become the first Korean food company to introduce frozen gimbap into the Chinese market by selling its products at a leading retailer there. Pulmuone’s Tuna Kimbap, sold in packs of three rolls, is now available at Sam's Club, which operates 49 stores in China. A full 136,000 units will be exported to China by September, with plans to export a total of 620,000 units annually, the company said. The product packaging brandishes

CompaniesSept. 12, 2024

HD Hyundai, Hanwha push zero-emissions agenda at Gastech 2024

Shipbuilding rivals HD Hyundai and Hanwha Group are gearing up for Gastech 2024, the world’s largest energy sector exhibition, held from Tuesday to Sept. 20 in Houston. Attracting over 50,000 attendees and more than 800 companies, the event will spotlight the companies' eco-friendly shipbuilding and energy technologies. HD Hyundai will be represented by Vice Chairman Chung Ki-sun, along with a team from sales, R&D and engineering, to meet with business partners and corporate clien

IndustrySept. 12, 2024

Posco Future M inks W1.8tr cathode supply deal

Posco Future M said Thursday it has signed a 1.8 trillion won ($1.4 billion) deal to supply high-nickel cathode materials for electric vehicle batteries with a battery maker. The details of the agreement including the other signing party will not be disclosed until Dec. 31, when the two companies will finalize the terms and conditions, according to Posco Future M. “We sometimes hold back the information on the parties involved following the company’s request (of not making a full dis

MobilitySept. 12, 2024

Hyeri’s teen flick ‘Victory’ embroiled in ‘ticket hoarding’ rumor

Singer-turned-actor Hyeri’s latest teen cheerleading flick “Victory” was embroiled in a rumor that people related to the movie have hoarded tickets to increase sales, causing production firm Mind Mark to release a statement. According to the Korea Film Council data, “Victory,” which opened in local theaters on Aug. 14, has topped the box office as of Thursday. On Tuesday and Wednesday, more than 26,000 moviegoers watched the film, placing the movie at the top of the

FilmSept. 12, 2024

[Photo News] Glimpse into SKT's AI strategy

SK Telecom welcomed 35 UCLA eMBA students to its Seoul headquarters on Wednesday, offering an exclusive look into its innovative AI strategies. The nation's top telecom carrier delivered presentations on its AI Pyramid Strategy and outlined plans to expand its global business through the Global Telco AI Alliance – a partnership with global telecom companies focused on advancing AI-powered services. As part of UCLA Anderson School of Management’s International Business Resident

TechnologySept. 12, 2024

S. Korea to provide $2m to typhoon-hit Vietnam

South Korea will provide Vietnam with $2 million in humanitarian assistance to help cope with the aftermath of a strong typhoon that killed more than 150 people, the foreign ministry said Thursday. The government hopes that the provision will help with the recovery efforts and help the affected residents be able to quickly return to their daily lives, the ministry said in a release. Typhoon Yagi, Asia's most powerful typhoon this year, swept through the northern part of Vietnam, bringing he

Diplomatic CircuitSept. 12, 2024

Bail granted to SPC chairman under trial for anti-labor charges

A court on Thursday approved a bail request by Hur Young-in, the chair of bakery giant SPC Group, who is currently standing trial on charges of coercing bakers to quit their labor union. The 74-year-old bakery mogul was arrested in April and has since been standing trial in detention on charges of pressuring some 570 union members at an SPC subsidiary to quit their union between early 2021 and mid-2022 over their labor activities critical of the company. The Seoul Central District Court approved

Social AffairsSept. 12, 2024

[해커스 TOEIC] 토익 점수 Up 단어, Part 5 문제

2) 파트 5 3문제 1. The deadline for the annual report is fast approaching, so the manager asked the staff to work -------. (A) quick (B) quickness (C) quickest (D) quickly 해석 연간 보고서의 마감 기한이 빠르게 다가오고 있기 때문에, 그 관리인은 직원들에게 빨리 작업하라고 요청했다. 해설 부사 자리 채우기 문제 동사(work)를 꾸밀 수 있는 것은 부사이므로 ‘빨리’라는 뜻의 부사 (D) quickly가 정답이다. 형용사 (A), 명사 (B), 형용사의 최상급 (C)는 동사를 꾸밀 수 없다. 어휘 deadline 마감 기한 annual 연간의, 연례의 2. The host hired a catering company instead of preparing the food herself so that she co

English EyeSept. 12, 2024

Iraq expected to conclude deal to buy S. Korea's missile defense system next week: reports

Iraq is set to buy South Korea's homegrown medium-range, surface-to-air missile defense system, called Cheongung-II, with a deal expected to be concluded next week, according to Iraqi media reports Thursday. The reports said that Iraq's defense ministry is expected to sign a US$2.5 billion contract with Korean defense firms to purchase eight units of the Cheongung-II system, which is designed to defend against aircraft, cruise missiles and ballistic missiles. The decision is part of Ir

Foreign AffairsSept. 12, 2024

Seoul shares open higher on US gains

Seoul shares opened higher Thursday, tracking tech-led gains on Wall Street, as investors expect the Federal Reserve's rate cut after the release of US inflation data. The benchmark Korea Composite Stock Price Index (Kospi) rose 1.2 percent, or 30.17 points, to 2,543.54 in the first 15 minutes of trading. In August, the US core consumer price index, excluding volatile food and energy costs, rose 0.3 percent from July. The inflation data dashed hopes for a big cut by the Fed next week but ma

MarketSept. 12, 2024