Honeywell taps strategy expert to lead Korean office

Honeywell, a multinational integrated operating conglomerate, on Monday announced that it has appointed Dean Park as the head of its Korean office as it looks to bolster growth here. According to Honeywell, Park will oversee the delivery of tailored products and solutions designed to meet the local needs of Korea’s key industries that align with the three megatrends -- automation, the future of aviation and energy transition -- shaping Honeywell’s portfolio. The new Korea chief will

CompaniesAug. 19, 2024

[Out of the Shadows] War on drugs comes to Korean campuses

A 30-something graduate student at KAIST, South Korea's top science-specialized university, was recently arrested by the Seoul Southern District Prosecutors' Office for distributing and using drugs within a social fraternity he created in 2021 which included members from 13 other elite universities. Three other university students were also apprehended, and two others were indicted without physical detention for breaching the Narcotics Control Act. Eight other students who took drugs b

Social AffairsAug. 19, 2024

Experts downplay COVID-19 threat despite resurgence

COVID-19 cases have been trending upward since the summer wave arrived in South Korea, with more people admitted to hospitals for treatment compared to previous weeks and health authorities seeing an increase in COVID-19 levels in wastewater. Despite growing concerns about COVID-19's summer spread, health care experts and authorities said Monday that an increase in virus cases should not be a cause for fear. Instead, they noted that taking precautions could minimize the potential spread of

Social AffairsAug. 19, 2024

Samsung tops global TV sales, closely chased by Chinese rivals

While Samsung Electronics maintained its No. 1 position as a TV-maker in the first half of this year, Chinese rivals seem to be ramping up their game to close the gap. Market tracker Counterpoint Research said Monday that global TV shipments grew in the April-June period for the first time in four quarters, fueled by an Olympics spending spree. It reached 56 million units in the second quarter this year, up 3 percent on-year. Samsung took the largest share of 15 percent of total shipments, but i

IndustryAug. 19, 2024

SK's top executives convene to discuss AI at Icheon Forum

SK Group kicked off its annual Icheon forum -- one of the biggest gatherings of its top executives -- in Seoul on Monday to explore strategies for expanding the artificial intelligence ecosystem and reinforcing the value of SK Management Systems, the group’s unique philosophy introduced by former SK Chairman Chey Jong-hyun about half a century ago. About 100 guests and speakers from both Korea and abroad, together with Chairman Chey Tae-won, Executive Vice Chairman Chey Jae-won and SK Supe

IndustryAug. 19, 2024

Bankers better paid than Samsung, Hyundai Motor workers

The average earnings of bankers at South Korea's four major banks in the first half of this year amounted to 60.5 million won ($45,300), surpassing the pay at some of the country's largest companies. According to recent public disclosures reported by the banks to the Financial Supervisory Service, Hana Bank led the pack, offering 67 million won on average to its employees over the first six months. KB Kookmin Bank and Woori Bank followed at 60 million won each, while Shinhan Bank provi

EconomyAug. 19, 2024

Top concertmasters gather in Seoul to celebrate 30 years of Sejong Soloists

Four esteemed concertmasters will gather to celebrate the 30th anniversary of the Sejong Soloists at the Seoul Arts Center on Saturday. Frank Huang, concertmaster of the New York Philharmonic, David Chen, concertmaster of the Metropolitan Opera Orchestra, Andrew Wan, concertmaster of the Montreal Symphony Orchestra and Daniel Cho, concertmaster of the Hamburg Philharmonic State Orchestra, all share a significant connection: they are alumni of the Sejong Soloists, an ensemble founded 30 years ago

CultureAug. 19, 2024

Yoon urges readiness for NK's 'hybrid warfare'

The Ulchi Freedom Shield exercise of the military forces of South Korea and the United States jointly kicked off on Monday with South Korean civilians, with the primary focus on addressing North Korea's nonkinetic operations, such as public opinion warfare, cyberattacks and the spread of fake news. The annual summertime joint military exercise that runs through Aug. 29 is the third such exercise since President Yoon Suk Yeol took office in May 2022, as Pyongyang increasingly blends unconven

PoliticsAug. 19, 2024

Typhoon Jongdari approaches S. Korea

Typhoon Jongdari is slowly approaching South Korea, and it is expected to bring heavy rains accompanied by strong winds to the southern parts of the country, according to the Korea Meteorological Administration on Monday. The KMA said Typhoon Jongdari, the ninth typhoon of this year and the first typhoon to hit Korea this year, formed on the southwestern coast of Okinawa at 3 a.m., Monday, moving at a slow speed of 10 kilometers per hour. Typhoon Jongdari is expected to approach Jeju Island on T

Social AffairsAug. 19, 2024

Brutal competition ahead for 1st-generation Fifty Fifty members

The original four members of the K-pop girl group Fifty Fifty are set to compete with one another as Keena returns with new members as the second generation of Fifty Fifty in the second half of this year and the three former members -- Saena, Aran and Sio -- debut as a trio under a new agency. Saena, Aran and Sio recently signed an exclusive contract with Massive E&C, a label under IOK Company. IOK Company is an agency that represents actors such as Go Hyun-jung, Zo In-sung and Shin Hye-sun.

K-popAug. 19, 2024

Meal expense cap for public officials raised to 50,000 won

The Anti-Corruption and Civil Rights Commission officially announced on Monday an increase in the meal expense limit for public officials from 30,000 won ($22) to 50,000 won, citing the need to account for inflation since the limit was set in 2016. The commission’s chairperson, Ryu Chul-whan, stated that the new cap is to take effect on Aug. 27 following the approval of a revised enforcement ordinance during a Cabinet meeting on Monday. This change comes eight years after the Improper Soli

Social AffairsAug. 19, 2024

Memorial concert for rockstar Shin Hae-chul to take place in October

A memorial concert will be held to mark the 10th anniversary of the death of legendary rock star Shin Hae-chul. The concert, titled “Mawang 10th: Ghost Stage,” will take place on Oct. 26-27 at Inspire Arena in Yeongjongdo, Incheon. The upcoming concert is a tribute concert prepared by musicians who remember Shin, where his music and philosophy will be reinterpreted through various genres, music and performances. The event organizers stated that the production team and participating m

PerformanceAug. 19, 2024

Govt. to crack down on illegal file-sharing websites

The Ministry of Culture, Sports and Tourism said Monday that a crackdown on online copyright infringements of content will run until the end of the year in collaboration with the National Police Agency and Interpol. In a joint probe that will continue throughout the remainder of this year, the officials will clamp down on the illegal sharing of webtoons, movies, dramas and other video content at websites. "Illegal site operators take away legitimate profits from creators and threaten the ec

Social AffairsAug. 19, 2024

379 taxed for sales made via secondhand goods trading

Nearly 400 users of second-hand trading platforms that logged "substantial" revenue were taxed by the government this year, tax agency data showed Monday. A total of 379 people that were taxed by the National Tax Service reported an accumulated 17.7 billion won ($13.2 million) in sales this year, equivalent to about 46.7 million won per person, according to the National Tax Service data revealed by Rep. Park Seong-hoon of the ruling People Power Party. The report showed that the 10 mos

Social AffairsAug. 19, 2024

Ford halts Quebec battery plant project with SK, EcoPro

Construction of a cathode material plant in Becancour, Quebec -- a joint venture between Korea’s EcoPro BM, SK On, and US automaker Ford -- has been halted for the second time this year, amid growing uncertainty surrounding Ford’s electric vehicle strategy. The plant's construction began in August last year and was initially paused in April this year due to issues with selecting a contractor and finalizing the facility’s design. At the time, Francois Legault, the Premier o

MobilityAug. 19, 2024

[Photo News] Promising columnists

The winners of the 2024 Student Column Contest and officials of The Korea Herald pose for a photograph at the award ceremony held at Herald Media Group is Seoul on Monday. The contest was co-hosted by The Korea Herald and Seoul National University’s English-language journal The SNU Quill. From left: The Korea Herald chief copy editor Paul Kerry, The Korea Herald managing editor Lee Joo-hee, first place winner Kim Ha-jin of Seoul National University, second place winner Chae Song-hwa and th

PeopleAug. 19, 2024

Celltrion eyes top 5 drug maker by 2030

South Korean biopharmaceutical firm Celltrion Pharm unveiled Monday a new vision to become one of South Korea’s top five pharmaceutical companies by 2023. Under Vision 2030, Celltrion Pharm said the company aims to make a quantum leap by enhancing its core business strengths and implementing differentiated growth strategies across its manufacturing, research and sales divisions. Celltrion plans to boost production at its Cheongju plant, which holds Good Manufacturing Practice certification

CompaniesAug. 19, 2024

Daewoong’s botulinum toxin debuts in Australia

Daewoong Pharmaceutical, South Korea’s leading drug maker, announced Monday the company officially launched its botulinum toxin, dubbed Nuceiva, in Australia in partnership with a Nasdaq-listed US company Evolus. Oceania is the fifth continent Daewoo Pharmaceutical has entered, after North America, South America, Europe and Asia, with its self-developed botulinum toxin. “Our market penetration into Australia will allow us to build on the momentum of expanding presence in the global m

IndustryAug. 19, 2024

[Photo News] Korean Air spreads wings of charity

Employees from Korean Air and Delta Air Lines pose for a photo after a homebuilding project in Cheonan, South Chungcheong Province, Wednesday. In collaboration with Habitat for Humanity Korea, the initiative aims to provide much-needed housing for local families. A team of 33 employees from the two airlines worked together on various construction tasks, including brick-laying, roofing and carpentry. Korean Air’s partnership with Habitat for Humanity Korea dates back to 2001, initially fo

IndustryAug. 19, 2024

[Bills in Focus] Shareholder rights, e-commerce safeguards

Proposed Bill: Partial Amendment to the Commercial Act Proposed by Rep. Kim Hyun-jung (Democratic Party of Korea) ● Although corporate directors have a duty of loyalty towards their company, they have no obligations toward their shareholders. Therefore, to protect shareholders from the decisions of directors, this bill imposes a duty of fairness on directors. Proposed Bill: Partial Amendment to the Act on the Consumer Protection in Electronic Commerce Proposed by Rep. Cheon Jun-ho (Democratic

Social AffairsAug. 19, 2024