Toss posts record revenue in Q3, led by brokerage biz

Viva Republica, the operator of mobile financial service Toss, posted record-high revenue in the July-September period, gaining traction for a potential US listing. According to the company on Thursday, its third-quarter revenue soared 47.5 percent to 502.1 billion won ($356 million) from a year ago, largely buoyed by its diverse business portfolio ranging from internet banking to digital brokerage. With the latest figure, the company's cumulative revenue this year stood at 1.41 trillion wo

IndustryNov. 14, 2024

Pastor sentenced to 18 months for embezzling W367m in church funds

A pastor who embezzled 367 million won ($261,063) in church funds, including offerings made by church members, was sentenced to 18 months in prison, according to a court ruling on Thursday. The Seoul Northern District Court said it handed down the prison term last Thursday on charges of embezzlement and breach of trust. The defendant, who served as head pastor at a church in Seoul, is accused of misappropriating church funds for personal expenses between 2010 and 2020. With the pocketed funds, t

Social AffairsNov. 14, 2024

NewJeans reassure fans after giving ultimatum to Ador

NewJeans members reassured fans after issuing an ultimatum to Ador that they would terminate their exclusive contracts if certain demands, including former CEO Min Hee-jin’s reinstatement, were not met. “Just in case, do not worry about us. Everyone has an important stage in their lives and for us, it’s just now. Don’t worry about us when taking the test,” Hanni of NewJeans shared on the fan community app Phoning on Wednesday, a day ahead of Korea's college ent

K-popNov. 14, 2024

[Security Forum] Uncertainties cloud security on Korean Peninsula, experts say

A second Donald Trump administration is expected to bring a slew of uncertainties to the security situation on the Korean Peninsula, which calls for Seoul to bolster its alliance with Washington and find a key role in the US’ potential policy shifts, experts pointed out Wednesday. During a panel discussion at the Korea Herald Security Forum titled "Alliance After US Election 2024: A Seoul Perspective" held at the National Assembly in Seoul, four experts addressed looming concerns

Foreign AffairsNov. 14, 2024

Proactive, calm approach needed in response to Trump 2.0

As US President-elect Donald Trump’s second term augurs the resurgence of his "America First" policy, a consistent message resonated at a timely Korea Herald forum: Seoul must forge a strategic pivot, carefully balancing its role as a US ally with its own autonomy and core interests. At the “Alliance After the US Election 2024: A Seoul Perspective” security forum held Wednesday at the National Assembly Museum, a pressing question took center stage: How can South Korea

Foreign AffairsNov. 14, 2024

[Security Forum] Forum gathers diplomats from 35 countries amid new security challenges

Reflecting growing interest in major foreign policy changes anticipated in the United States ahead of Donald Trump's return to the White House as well as the recent tension between the two Koreas, the Korea Herald Security Forum, held Wednesday in Seoul, brought together 21 ambassadors and diplomats from 35 embassies. The top envoys attending The Korea Herald’s Security Forum said efforts are needed to maintain strong ties among allies and partner countries for better security and s

Social AffairsNov. 14, 2024

[Security Forum] 'Korea-US alliance is never a tradable asset'

United States President-elect Donald Trump's return to the White House next year signals the possibility that parts of the South Korea-US alliance or regional security-related matters could be negotiated away. South Korea must brace for any attempt by Trump to do so, even when dealing with nuclear-armed North Korea and its leader, Kim Jong-un, said Chung Duck-koo, founder and chair of Seoul-based think tank North East Asia Research Foundation, on Wednesday. "The Korea-US alliance is ne

PoliticsNov. 14, 2024

[What to attend] Three musicals boasting unique music styles

A quality musical production begins with great music. Often, the songs can feel similar across different shows. However, "Lizzie," "Zorro: Actor-Musician" and "Gwanghwamun Love Song" stand out for their distinctive musical styles, offering audiences a refreshing experience. 'Lizzie': Feel the rock vibe “Lizzie” is inspired by the true story of Lizzie Borden, accused of brutally murdering her father and stepmother with an ax in the late summ

CultureNov. 14, 2024

[Herald Review] Cho Seung-woo takes 'Hamlet' crown

When the Seoul Arts Center announced its production of "Hamlet" for the year, it was met with mixed reactions, some asking, "Another Hamlet?" After all, the play had already been staged twice in 2024 -- once by Seensee Company (June 9 - Sept. 1) under the direction of veteran director Sohn Jin-chaek, and again by the National Theater Company of Korea in July in a genre-bending iteration with Princess Hamlet. Both productions had already captured the public’s attention,

PerformanceNov. 14, 2024

Professor calls for more support for Korean studies in N. America

South Korea needs a strategy to maintain the growth of the Korean language, according to Ross King, a professor of Korean language and literature at the University of British Columbia. The Korean language has gained popularity in North America in recent years, but a lack of strategy could jeopardize its future, King said. The number of students studying the Korean language has grown by about 75 percent in the US over the past 10 years, while student enrollment in other language courses has dropp

Social AffairsNov. 14, 2024

Yoon leaves for APEC summit; set for trilateral talks Friday

President Yoon Suk Yeol left South Korea on Thursday to attend the Asia-Pacific Economic Cooperation forum, or APEC summit, in Lima, Peru, later this week. Lima will be the first stop of Yoon's first official visit to South America since he was inaugurated in May 2022. After attending the APEC summit, Yoon will fly to Rio de Janeiro for the Group of 20 summit. Yoon boarded Air Force One at 11:48 a.m. at Seoul Air Base in Seongnam, Gyeonggi Province. In attendance were the ruling People Power Par

PoliticsNov. 14, 2024

Upbit D Conference explores how to bridge crypto with real world

Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, hosted the Upbit D Conference on Thursday, discussing how blockchain technology can bring changes into the real world. This year’s event, in its seventh edition, was held under the title of "Blockchain: Powering Real World Change." “Blockchain is no longer an invisible technology. Just a few years ago, blockchain was considered unfamiliar and complex, but now we can see that perceptions in Kor

IndustryNov. 14, 2024

Suneung retakes hit record amid med school expansion

South Korea’s annual College Scholastic Ability Test, or Suneung, took place on Thursday, witnessing a record number of retakers, drawn by the prospect of increased medical school enrollment quotas next year. With the highest number of retakers in 21 years, a total of 522,670 students, including high school seniors and graduates, were registered to take the state-administered Suneung, up 18,082 from last year. While the proportion of graduates was 0.7 percentage points lower than the previ

Social AffairsNov. 14, 2024

Jin of BTS to appear on NBC’s ‘The Tonight Show Starring Jimmy Fallon’

Jin of BTS will begin the global promotion of his upcoming solo album, “Happy,” by starring on NBC’s “The Tonight Show Starring Jimmy Falon,” on Nov. 21. The show dropped a trailer for Jin’s episode on its official social media Wednesday. The 33-second clip shows Jimmy, the host of the show, opening a “top secret” envelope in an 1990s-style office. In the envelope is a disk that says “Special Guest,” showing a photo of Jin with the date

K-popNov. 14, 2024

Korea to take action if currency falls more

South Korea’s finance minister warned against excessively volatile currency moves on Thursday, vowing to take swift action if needed amid the rapid depreciation of the Korean currency against the US dollar. Financial authorities will bolster efforts to stabilize the financial and foreign exchange market experiencing continued fluctuation stemming from uncertainties over major anticipated US policy shifts as Donald Trump won a second term in the White House. “As uncertainties remain

EconomyNov. 14, 2024

[Security Forum] Trump’s return mixed bag for Korean economy: trade experts

Trade specialists agreed that Donald Trump’s second term could be both a boon and bane for Korean businesses as they discussed the outlook for policy changes under the upcoming US president during The Korea Herald Security Forum held in Seoul on Wednesday. Over 200 foreign affairs and trade specialists, lawmakers and ambassadors joined the inaugural event, titled “Alliance after US Election 2024: A Seoul Perspective.” The second economic and technological security session was m

IndustryNov. 14, 2024

HD Hyundai vice chairman promoted in CEO reshuffle

HD Hyundai announced new nominees to head its affiliates on Thursday as the Korean shipbuilding conglomerate aims to cope with changes in the global business environment in the wake of the US presidential election. HD Hyundai Vice Chairman Chung Ki-sun has been promoted to the group’s executive vice chairman. With the promotion, Chung is expected to play a bigger role in leading HD Hyundai’s key projects and eco-friendly and technological innovation, discovering future growth engines

CompaniesNov. 14, 2024

Sejong mayor sees Korean studies as solution for demographic crisis

The growing popularity of the Korean language could help address Korea's demographic crisis, Sejong City Mayor Choi Min-ho said Wednesday. Speaking at the Global Business Forum, held at Simone in Uiwang, Gyeonggi Province, Choi said Koreans should be more open to building a multicultural society, and that Hangeul could play a key role. “It is good that Hangeul is called the pride of Korea. But it could also be something more that helps with Korea’s low birth rate,” he said

Social AffairsNov. 14, 2024

Samsung, SK to unveil supercomputer chips at SC24

South Korean chipmakers Samsung Electronics and SK hynix will showcase their latest chips for artificial intelligence applications and supercomputing at Supercomputing 24, the largest international conference on high-performance computing, next week. The annual event which first kicked off in 1988 and is organized by Association for Computing Machinery and the IEEE Computer Society, will take place at the Georgia World Congress Center in Atlanta, from Sunday to Nov. 22. The Korean chipmakers wil

IndustryNov. 14, 2024

[KH Explains] For Korean automakers, Chinese EVs may loom larger than Trump’s tariffs

Donald Trump’s impending return to the White House has reignited fears of trade protectionism in the global auto industry. But the real question for automakers may not be about tariffs or changes to the Inflation Reduction Act. Trump’s stance on Chinese electric vehicles could have a greater impact, especially as Chinese automakers continue their aggressive push into global markets. For South Korean automakers Hyundai Motor and Kia, who face the mounting pressure of China’s rap

MobilityNov. 14, 2024