EcoPro founder returns to work, tasked with surviving EV chasm

EcoPro’s former Chairman Lee Dong-chae has returned to management after a yearlong hiatus, at a critical time when the battery materials maker and the entire EV industry are reeling from slowing demand. According to the company on Tuesday, Lee was recently named an executive adviser on the board following a presidential pardon granted last month. He had been serving prison time for insider trading since May last year. It remains to be seen when Lee could be reinstated as chairman, but expe

IndustrySept. 10, 2024

Samsung-Apple rivalry renewed as first AI iPhone debuts

Apple has launched the first generation of its artificial intelligence-focused smartphone series, the new iPhone 16 and iPhone 16 Pro, which are highly anticipated to go up against its rival Samsung Electronics' Galaxy S24, touted as the "world's first AI smartphone." To the disappointment of users in South Korea and countries outside the US, however, Apple is expected to introduce the full and multilingual version of its much-hyped Apple Intelligence next year. “The ne

IndustrySept. 10, 2024

[Photo news] Mercedes-Benz trains next auto experts

Mercedes-Benz Korea said Tuesday that it has launched its 17th Automotive Electric Traineeship and 8th Ausbildung Program. The AET program focuses on college students, while Ausbildung targets vocational high school students, offering hands-on experience in Mercedes-Benz dealerships. Both programs emphasize electric vehicle technology, preparing participants for the future of the automotive industry. Upon completion, trainees receive certifications recognized globally. Since their inception, the

IndustrySept. 10, 2024

Seoul shares dip for 6th session ahead of key US inflation data

South Korean shares extended their losing streak to six sessions Tuesday as investors took a cautious approach ahead of key US inflation data that would affect the upcoming rate-setting meeting. The local currency traded lower against the US greenback. The benchmark Korea Composite Stock Price Index lost 12.5 points, or 0.49 percent, to close at 2,523.43. The main index has continued its bearish mode since Sept. 3. Trading volume was light at 341.2 million shares worth 8.3 trillion won ($6.2 bil

MarketSept. 10, 2024

Nicolas Bourriaud reinterprets Korea's pansori for audiences globally

GWANGJU -- The 15th edition of the Gwangju Bienanle, which kicked off on Saturday in Gwangju, in Korea's southwest, presents “Pansori, a soundscape of the 21st century" as its theme, featuring 72 artists. Behind this theme of reinterpreting pansori -- a traditional Korean form of musical storytelling accompanied by a drummer -- is French curator Nicolas Bourriaud. Asia’s prestigious biennale has maintained its foundation in the "Gwangju Spirit," also known as the

Arts & DesignSept. 10, 2024

Warm temperatures to continue into Chuseok holiday

Though Chuseok is drawing near, the weather for Korea's traditional midautumn harvest festival remains similar to summer conditions, as heat wave advisories were issued in most parts of the country Tuesday. As of Tuesday, several major cities in Korea saw their highest September temperatures on record, with cities such as Daejeon seeing daytime temperatures reach as high as 35.3 degrees Celsius, marking the first time since 1969 that the city saw a temperature as high as 35 C in September.

Social AffairsSept. 10, 2024

Korean asset managers vie to ride Indian wave

South Korean asset managers are eagerly introducing diverse fund products tracking the Indian stock market, seeking lucrative opportunities in its strong growth. Korea Investment Management, a big-name asset manager here, listed two active funds tracking India-domiciled companies Tuesday, the ACE India Consumer Power Active ETF and ACE India Market Representative Big5 Group Active ETF. According to the firm, Korea Investment Management is the first company in Asia to launch an actively managed f

MarketSept. 10, 2024

Korea pledges W5tr to improve medical training amid prolonged standoff

Amid a monthslong stalemate between the government and medical communities over the state's decision to increase the medical school enrollment quota, South Korea said it will inject about 5 trillion won ($3.7 billion) by 2030 to improve medical education conditions. In line with the expansion of medical schools, the Ministry of Education and related ministries announced an investment plan Tuesday, including increasing the number of professors at national universities by 1,000 over three yea

Social AffairsSept. 10, 2024

[2024 IFA] Samsung to bolster B2B AI services

BERLIN -- Samsung Electronics has unveiled its vision to expand its AI presence from mobile devices and home appliances to residential and commercial buildings. Under the vision “AI for all,” the tech giant said it will launch diverse AI-based services for business-to-business areas, including "AI apartment," "AI office," "AI store" and "AI stay," taking advantage of its leadership in AI-powered home appliances. AI apartment, for instance, allo

IndustrySept. 10, 2024

Yoon raises ER physician fees temporarily

President Yoon Suk Yeol on Tuesday laid out a plan to raise physicians' fees temporarily during the next two weeks, as the crisis in short-staffed emergency rooms in South Korean hospitals is expected to deepen during the Chuseok holiday in mid-September. Yoon said in a Cabinet meeting that fees for emergency room doctors -- supported by the nation's universal single-payer health care system -- will be temporarily raised 3.5 times what they currently are during the period. The hikes wi

PoliticsSept. 10, 2024

Korea strengthens educational ties with Kazakstan

South Korea and Kazakhstan launched the Global Education and Innovation Alliance to foster international partnerships in education and research. Lee Ju-ho, South Korea's deputy prime minister and minister of education, and Sayasat Nurbek, Kazakstan's minister of science and higher education, discussed possible educational cooperation while emphasizing Korkyt Ata University and SeoulTech's successful collaboration on the establishment of an Artificial Intelligence Institute as a mo

Social AffairsSept. 10, 2024

[Herald Interview] GPE Deputy CEO urges global support for better education

Funding education is crucial in developing countries, particularly for those vulnerable to natural disasters and climate change. According to Charles North, Deputy CEO of the Global Partnership for Education, a World Bank-supported initiative focused on enhancing education in low-income nations, investing in education not only builds a future workforce but also strengthens communities' resilience and ability to recover and progress in the face of adversity, as evidenced by the experience

Social AffairsSept. 10, 2024

Hanwha, SK develop world’s 1st non-flammable ESS for ships

Hanwha Aerospace and SK Enmove announced Tuesday that they have developed the world’s first non-flammable energy storage system, or ESS, seeking to secure the lead in the eco-friendly maritime solution sector. The two companies under two of Korea’s largest conglomerates -- Hanwha Group and SK Group -- showcased the liquid immersion cooling ESS technology and how it fills up a lithium-ion battery module with thermal fluids to reduce the chances of a fire to zero. “Safety is a pr

TechnologySept. 10, 2024

Samsung SDI to sell polarizing film biz to China’s Wuxi for W1.1tr

Samsung SDI has decided to sell its polarizing film business to China’s Wuxi Hengxin Optoelectronic Materials for 1.12 trillion won ($833.3 million) as the company aims to focus on honing the competitiveness of its electronic materials unit, the Korean battery maker said Tuesday. Polarizing films, optical films that allow displays to show an image by controlling the amount of light, affect the image quality of the screen. According to the company’s regulatory filing, Samsung SDI&rsqu

CompaniesSept. 10, 2024

Minister pushes for inheritance tax overhaul

The South Korean government is stepping up efforts to overhaul its inheritance tax system next year, with the Finance Ministry preparing a bill to tax the inheritors instead of the estate that is being inherited. "To enhance fairness and ensure consistency in taxation, as well as align with global trends, the government plans to shift to an inheritance acquisition tax system," Finance Minister and Deputy Prime Minister Choi Sang-mok said Monday in a meeting with journalists at the gove

EconomySept. 10, 2024

Busiest spots in Seoul? Seoul shows foot traffic in popular districts

Seoul Metropolitan Government said Tuesday it has added information on foot traffic in major shopping districts to the real-time information service it provides on the most popular areas in the city. The service, accessible at the Seoul Open Plaza website, provides an overview of popular areas in the city with information including the estimated foot traffic, road and weather conditions, empty parking spots, adjacent public transportation routes and rentable bicycles. For example, Seoul Plaza ne

Social AffairsSept. 10, 2024

Hyundai-Kia EV powertrains named in best engines of 2024

Hyundai-Kia’s electric powertrains, featured in the Hyundai Ioniq 5 N and Kia EV9 GT-Line, have been recognized by US automotive publication WardsAuto as two of the 10 Best Engines & Propulsion Systems for 2024. This also is the third straight year that Hyundai Motor Group’s E-GMP electric vehicle platform, has earned this prestigious recognition. WardsAuto has been holding automotive powertrain awards since 1995. Expanded in 2019 to include electric propulsion systems, the award

MobilitySept. 10, 2024

Kenya studying Korean tech for housing

Kenya is studying South Korea's advanced technology to improve housing infrastructure and address the African country's housing challenges. “Our goal is to build 200,000 housing units annually, and we’ve already started over 100,000 units since July 2023,” Charles Hinga, principal secretary of Kenya's State Department for Housing and Urban Development, said in an interview with The Korea Herald on Saturday. Kenya plans to use Korean technology, such as aluminum f

Foreign AffairsSept. 10, 2024

[Hello India] India's Rajasthan government woos Korean investors

The Indian state of Rajasthan sought to encourage Korean companies at the Rising Rajasthan Roadshow event in Seoul on Monday. The roadshow comes in the lead-up the Rajasthan's government's Rising Rajasthan Global Investment Summit, to be held from Dec. 9-11 in Jaipur, the capital city of the state. Led by Rajasthan’s Chief Minister Bhajan Lal Sharma, the roadshow delegation highlighted the state's opportunities in renewable energy and automotive manufacturing, electronics an

Foreign AffairsSept. 10, 2024

[Pressure points] Workplace communication: To emoji or not to emoji?

In today's digital landscape, emojis contribute a great deal to communication, but how well do they translate to the corporate world? For some, these symbols are efficient tools for communicating in the workplace, while for others, they seem unprofessional. Over 60 percent of workers in South Korea use emojis at work, according to a recent survey conducted by tutoring platform Preply. While about 90 percent of those emoji users exchanged them with peers at work, use with senior colleagues

Hashtag KoreaSept. 10, 2024