Most Popular
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Industry experts predicts tough choices as NewJeans' ultimatum nears
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Jung's paternity reveal exposes where Korea stands on extramarital babies
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Samsung entangled in legal risks amid calls for drastic reform
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[Herald Interview] 'Trump will use tariffs as first line of defense for American manufacturing'
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Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
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Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations
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[Herald Review] 'Gangnam B-Side' combines social realism with masterful suspense, performance
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[Health and care] Getting cancer young: Why cancer isn’t just an older person’s battle
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Prosecutors seek 5-year prison term for Samsung chief in merger retrial
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[More than APT] Changing the value of 'home'
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Hyundai, Kia's EV exports set to exceed 100,000 units this year
Hyundai Motor Co. and its affiliate Kia Motors Corp. said Thursday they are set to export over 100,000 electric vehicles this year on growing demand for environment-friendly cars. Hyundai and Kia shipped a combined 98,505 EVs from January to October, jumping 71 percent from 57,517 units during the same period of last year, according to the companies. "Stricter emission rules in Europe drove up demand for all-electric and less-emitting models," a Hyundai spokesman said. Hyundai's
MobilityNov. 26, 2020
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[Graphic News] KT maintains top spot in pay TV market in H1: data
KT, a South Korean telecom giant, and its affiliate had the most number of pay TV subscribers in the country in the first half of this year, maintaining the top status in terms of market share, ministry data showed. The mobile carrier and its satellite TV unit KT Skylife had a combined 31.4 percent share of the market, or 10.7 million subscribers, in the January-June period, followed by LG Uplus and its pay TV unit LG HelloVision at a total 25.1 percent, according to the Ministry of Scien
BusinessNov. 26, 2020
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Seoul stocks open lower on Wall Street losses
South Korean stocks opened slightly lower Thursday, taking a cue from overnight losses on Wall Street over disappointing US economic indices. The benchmark Korea Composite Stock Price Index fell 0.94 point, or 0.04 percent, to 2,600.6 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average retreated 0.58 percent to 29,872.47 points on an increase in weekly US jobless data, weakening hopes for a quick recovery from the pandemic. The Nasdaq composite gained 0.48 percent,
MarketNov. 26, 2020
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BOK keeps key rate at record low, ups economic outlook
The South Korean central bank on Thursday held its policy rate unchanged at a record low of 0.5 percent, while slightly revising up this year's economic outlook, amid growing concerns over a winter wave of coronavirus infections. As expected, the monetary policy board of the Bank of Korea (BOK) voted to leave the base rate steady in this year's final rate-setting meeting. Driven by signs of a modest recovery in exports, the BOK revised up this year's economic growth outlook to 1.1 percent cont
EconomyNov. 26, 2020
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[Herald Interview] Customs service promotes global program for safe, risk-free trade
The global economy has been seriously affected by the coronavirus pandemic, with trade and international travel being restricted due to economic lockdowns worldwide. Amid the ongoing battle against the economic fallout from the virus, the Korea Customs Service will hold a conference Friday to promote the authorized economic operator (AEO) program, which helps both exporters and importers carry out customs procedures swiftly. After the Sept. 11 terrorist attacks, the World Customs Organization
MarketNov. 26, 2020
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Banks' bad loans inch down in Q3
Nonperforming loans at South Korean banks edged down in the third quarter from three months earlier due to a decline in overdue corporate loans, data showed Thursday. Nonperforming loans came to 14.1 trillion won ($12.7 billion) at the end of September, down 900 billion won from the end of June, according to the data from the Financial Supervisory Service (FSS). Overdue corporate loans reached 12 trillion won at the end of September, compared with 12.8 trillion won from a quarter earlier, the
EconomyNov. 26, 2020
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S. Korea's Nov. exports tipped to rebound 6.6%: poll
South Korea's exports are expected to rebound by rising 6.6 percent on-year in November following a brief fall in the previous month, on the back of stronger demand for chips and automobiles, a poll showed Thursday. The country's outbound shipments are estimated to reach $46.9 billion this month, according to the poll by Yonhap Infomax, the financial news arm of Yonhap News Agency. The survey was conducted on eight local brokerage houses. Imports were estimated at $40.3 billion this month, res
EconomyNov. 26, 2020
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S. Korea's trade deficit with Japan inches up amid weaker boycott
South Korea's trade deficit with Japan edged up in the first 10 months of the year, data showed Thursday, as a local boycott of Japanese consumer goods shows signs of losing steam. Seoul posted a trade deficit of $16.56 billion in the January-October period, compared with $16.42 billion during the same period a year earlier, according to the data from the Korea International Trade Association (KITA). Exports to the neighboring country fell 13 percent on-year to $20.63 billion over the cited pe
IndustryNov. 26, 2020
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LG U+ names Hwang Hyun-sik as new CEO
LG U+’s Chief Executive Officer Ha Hyun-hwoi stepped down Wednesday, recommending in his place Hwang Hyun-sik, president of consumer business. According to LG U+, Ha has determined that now is a critical point for LG U+ in its preparation for the post-COVID-19 era and digital transformation. He has recommended Hwang to helm the leadership, saying his 20 years of experience in the telecommunications business will stably guide LG U+ through the rapidly evolving market. Hwang,
IndustryNov. 25, 2020
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Is COVID-19 like the flu?
Perhaps one of the most frequently posed questions since the pandemic’s onset is how the new virus may compare to seasonal influenza. Infectious disease specialist Dr. Oh Myoung-don, who leads the National Medical Center’s committee for clinical management of emerging infectious diseases, said during a press conference Tuesday that complications from “COVID-19 might not be more severe than the flu.” “Certain cardiovascular and neurological complications have been
TechnologyNov. 25, 2020
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IATA exec says more consolidation in aviation possible
The International Air Transport Association’s regional vice president said on Wednesday that the aviation industry could see more consolidation between airlines from the same country in the wake of Korean Air and Asiana Airlines acquisition deal. “We’ve had a number of airlines who’ve tried to set up regional operations but they’ve tended to be challenged by the ownership and control rules that apply in different countries with respect to air operator certificates,
MobilityNov. 25, 2020
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LG Display appoints new CTO, first female senior vice president
LG Display, in its annual personnel appointment announcement Wednesday, introduced a new chief technology officer, Yoon Soo-young. Yoon will replace incumbent CTO Kang In-byeong. All new appointments are effective January 1st, LG Display said. Yoon, formerly the head of LG Display Laboratory, has been acknowledged for his role in leading the company‘s business transition to next-generation organic light-emitting diode technology. LG Display said that it has promoted 19 more officials
IndustryNov. 25, 2020
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Top 10 conglomerates’ market cap exceeds W1,000tr
The recent spate of records in South Korea’s stock market on hopes of a global coronavirus containment has brought the market capitalization of the 10 largest business groups’ listed affiliates to fresh highs, data showed Wednesday. As of Monday, the market cap of all 102 listed affiliates of the 10 largest business groups came to 1,069 trillion won ($964.3 billion), topping 1,000 trillion won for the first time in history, according to data from financial market tracker FnGuide.
MarketNov. 25, 2020
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[Correction]
The Korea Herald on Nov. 25 erroneously published an article “COVID-19 test required for foreign residents flying to France, Netherlands: Air France-KLM.” Those departing South Korea to France and the Netherlands do not require a COVID-19 test in advance. Foreign residents in Korea must obtain re-entry permits before departing the country. They must also obtain medical certificates or negative COVID-19 PCR certificates within 48 hours before returning to Korea. Foreign residents tha
IndustryNov. 25, 2020
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Hyundai Motor chief meets Lotte chairman for future mobility partnership
Hyundai Motor Chairman Chung Euisun on Wednesday held a meeting with Lotte Group Chairman Shin Dong-bin at Lotte Chemical’s advanced materials plant in Uiwang, Gyeonggi Province, according to news reports Wednesday. The two chiefs reportedly discussed how to apply Lotte Chemical’s new materials under development to Hyundai Motor’s future eco-friendly vehicles such as electric vehicles and hydrogen vehicles. However, neither Hyundai Motor Group not Lotte Group officials said
IndustryNov. 25, 2020
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Smilegate donates tablet PCs to low-income students as classes go online
South Korean game company Smilegate said Wednesday it has donated 50 tablet PCs worth 30 million won ($27,100) to eight youth institutions, providing the tools for students from low-income households to take online classes amid the coronavirus outbreak. For the donation, Smilegate Foundation’s Hope Studio collaborated with SundayToz, a Korean mobile game developer. After launching a donation campaign among users of its popular puzzle game Anipang 4, SundayToz raised 30 million won, which
IndustryNov. 25, 2020
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Samyang wins contract to supply ion exchange resin to KHNP
Samyang said Wednesday that it has won a contract to supply ion exchange resins used in the purification of nuclear power plants to Korea Hydro and Nuclear Power. The chemical firm, affiliated with Samyang Holdings, said it had competed against foreign suppliers to obtain the order, becoming the first South Korean company to do so. Previously the country imported all its ion exchange resins, Samyang Corp. explained. Under the agreement, Samyang will supply 700,000 liters of four types of ion
IndustryNov. 25, 2020
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GM Korea, labor union reach tentative agreement on wages
General Motors Korea and its labor union reached a tentative agreement on wages Wednesday, four months after their talks began in July. According to GM Korea, the two sides came up with a draft agreement during negotiations that started Tuesday. In the tentative agreement, GM Korea promised to offer an incentive of 4 million won ($3,600) to its workers as a message of encouragement amid the COVID-19 pandemic. As the labor union asked for the management to maintain operations at the two aut
MobilityNov. 25, 2020
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[Behind the Wheel] SsangYong’s Rexton returns younger, stronger
YEONGJONGDO, Incheon -- SsangYong Motor’s new Rexton has returned, with a bolder look and enhanced driving assistance systems. Introducing the new Rexton after launching the previous Rexton G4 model in 2017, the automaker said it sought to create a young and trendy vibe for the upper-mid-sized sports utility vehicle, targeting families that enjoy leisure activities. The company expects the upgrade to raise the popularity of Rexton, which has been preferred by those seeking abundant inte
MobilityNov. 25, 2020
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[Photo News] Incheon Airport Bags New Project
The Transport Ministry and Incheon International Airport Corp. said Wednesday that IIAC has been chosen as the strategic advisory consulting partner for Poland’s new airport project known as the Solidarity Transport Hub. With the 5.6 billion-won ($5.06 million) deal set to be signed later this year, IIAC will take on multiple responsibilities, including reviewing the master plan and writing a white paper for the development and operation of the new airport that is set to replace War
IndustryNov. 25, 2020