[From the Scene] Jewel Changi offers glimpse of how to make airport fun

SINGAPORE -- A picturesque scene unfolds at the Jewel Changi Airport -- a lush entertainment and retail complex hemmed in and connected to Changi Airport, the main gateway to Singapore. The metallic-hued automated people mover dubbed the Changi Airport Skytrain smoothly glides across a rail standing high off the ground to carry the passengers to their destinations in an average of four minutes. Across from the rail on which the APM leisurely transports passengers, water pours down with thunder

IndustryNov. 23, 2023

Seoul shares up for 4th day amid Fed's rate path woes

Seoul shares closed higher Thursday, helped by foreign buying, while investors remain concerned about the Federal Reserve's future policy path. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index was up 3.26 points, or 0.13 percent, to close at 2,514.96. Trade volume was slim at 353.45 million shares worth 6.43 trillion won ($5 billion), with decliners outnumbering gainers 469 to 403. Foreigners bought a net 119 billion won worth of stocks, offsetting

MarketNov. 23, 2023

[KH Explains] Why Hyundai Motor is pursuing future mobility in Singapore

Hyundai Motor Group on Tuesday held a grand opening ceremony for the Hyundai Motor Group Innovation Center Singapore, a non-traditional vehicle manufacturing facility filled with cutting-edge technologies such as artificial intelligence, automation, data analysis and robotics. As for the question of why the South Korean automaker chose Singapore to build the unprecedented site, Hyundai Motor says the answer lies in the fact that it attracts the world's top talent as a global innovation hub.

MobilityNov. 23, 2023

15 human rights groups urge BIE to reject Saudi Expo bid in final week

A coalition of 15 human rights groups has issued a plea to the 2030 World Expo organizer Bureau International des Expositions, imploring the members to reject Saudi Arabia’s bid on Wednesday, just six days ahead of the final decision. The group, represented by Democracy for the Arab World Now, called on the members to reject the bid from Saudi Arabia, citing the kingdom’s troubling human rights record. The appeal lays out a detailed dossier of human rights abuses in Saudi Arabia, arg

EconomyNov. 23, 2023

Korea to test central bank digital currency with public vouchers

From the fourth quarter of next year, individuals can test out the central bank digital currency with public vouchers, under a real-world test plan introduced by local authorities on Thursday. The Bank of Korea, Financial Services Commission and Financial Supervisory Service jointly announced the details on the pilot project, following a previous notice in October. Thursday’s announcement was made on the sidelines of a visit by Agustin Carstens, general manager of the Bank for Internationa

EconomyNov. 23, 2023

Shinhan Bank to invest W1.6tr into UK projects

Shinhan Bank said Wednesday that it has signed an agreement worth 1 billion pounds ($1.25 billion) with the United Kingdom Department for Business and Trade to invest in the country's infrastructure and environmental sectors. On Tuesday, the memorandum of understanding signing ceremony took place with the attendance of British Business and Trade Secretary Kemi Badenoch and Shinhan Bank CEO Jung Sang-hyuk, at the mayor's residence in London. Under the deal, the Seoul-based bank will inv

EconomyNov. 23, 2023

K-food exports surpass $10b milestone in November

South Korea's exports of food, agricultural products, smart farm equipment and technology, have achieved a new high this November, passing the $10 billion mark, the Ministry of Agriculture, Food and Rural Affairs said Thursday. Fueled by the global Korean food boom, the collective exports of Korean food, related agricultural products and technology -- collectively referred to as the "K-Food+" sector by the government -- reached $10.48 billion by the third week of November. The fig

IndustryNov. 23, 2023

Tesla opens Superchargers to rivals in South Korea

Tesla has begun making its Superchargers in Korea accessible to all non-Tesla electric vehicles, tightening its grip on the mobility charging network on the home turf of Hyundai and Kia. Starting Wednesday, non-Tesla electric cars can use around 570 of the EV maker’s V3 chargers that can give 261 kilometers of range in approximately 15 minutes at 84 stations. That is around half of the 1,007 Superchargers at 148 stations in Korea. To use the chargers, drivers should download the Tesla app,

MobilityNov. 23, 2023

Kim Sung-hwan tapped as Korea Investment & Securities CEO

South Korean financial group Korea Investment Holdings announced Thursday that it has selected Kim Sung-hwan, the executive vice president and head of private customer business of its brokerage subsidiary Korea Investment & Securities, as the final candidate for the brokerage firm’s CEO position. Kim, born in 1969, joined Korea Investment & Securities in 2004 after working at LG Investment & Securities for about three years. He is recognized for his expertise in overseeing vari

IndustryNov. 23, 2023

KB highlights anti-fragility as 2024 investment strategy

KB Financial Group held a conference Thursday, diagnosing the current market situation and sharing with its individual and corporate clients the group’s future investment philosophies to tackle uncertainties surrounding the global market. Titled “KB Investor Insights 2024,” the event was held at the KB Kookmin Bank's headquarters in Seoul, under the theme “anti-fragility," which refers to an ability to respond to and gain from uncertainties, and disorder. The te

IndustryNov. 23, 2023

[Photo News] Galaxy Z Flip5 special edition

Samsung Electronics said Thursday that it would roll out a special edition of its latest foldable smartphone, the Galaxy Z Flip5, in collaboration with French luxury fashion house Maison Margiela. The tech giant will accept applications for the special edition via its official online shopping mall on Nov. 30 from 9 a.m. to 5 p.m. The limited-edition bundle, priced at 2.49 million won ($1,916), will include a phone and two phone cases featuring the French brand's designs. (Samsung Electronic

TechnologyNov. 23, 2023

[KH Explains] Bank stocks falter amid windfall tax proposal

A longstanding Korean market adage that "when the cold wind blows, it's time to invest in bank stocks" appears to have lost its luster, as those shares have struggled due to a proposed windfall tax on local lenders' profits from high interest rates. The adage stems from the historical tendency for bank stocks to rise in the fourth quarter, coinciding with the distribution of year-end dividends. This year, the prospect of hefty taxes is moderating dividend forecasts, causing h

IndustryNov. 23, 2023

Seoul shares open higher on US gains amid rate woes

Seoul shares opened higher Thursday, following gains on Wall Street, with investors remaining concerned about the Federal Reserve's additional rate hikes to tame inflation. The benchmark Korea Composite Stock Price Index rose 3.11 points, or 0.12 percent, to 2,514.81 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.5 percent to 35,273.03, and the tech-heavy NASDAQ also added 0.5 percent to 14,265.86. There have been expectations that the Fed has nearly

MarketNov. 23, 2023

[From the Scene] Incheon Airport goes global to Batam, Indonesia

BATAM, Indonesia -- Indonesian workers in red vests and yellow helmets can be seen rushing to and fro across sparsely-situated construction sites at the airport, conversing animatedly as they carry metal rods and other construction equipment to fulfill their duties. This airport, which is currently undergoing construction, is Batam Hang Nadim International Airport at Batam, Indonesia -- a 571 billion won ($440 million) public-private partnership led by a consortium between Korea's Incheon I

IndustryNov. 23, 2023

Korea inks 37 deals with UK, vows closer ties

Marking the 140th anniversary of diplomatic relations between Korea and the United Kingdom, the two countries' business leaders held a forum in London to seek cooperation in diverse sectors, from energy and defense to supply chains. The event, held Wednesday on the sidelines of President Yoon Suk Yeol’s state visit to the UK, was co-hosted by the Federation of Korean Industries and the UK's Department for Business and Trade. Yoon delivered a congratulatory speech at the forum, st

EconomyNov. 22, 2023

Dyson vows to enhance customer service in Korea

Dyson Korea said Wednesday it will enhance its customer service policy to reduce customer inconvenience, following a series of complaints on delays experienced by consumers here. "We sincerely apologize for the inconvenience caused to our customers in the repair service," Rob Webster, managing director in charge of Asia Pacific at Dyson, said. "We are committed to our customers, and we hope to resolve all current delays by the end of November," he said. Dyson Korea said it wi

IndustryNov. 22, 2023

SK, Hilleman team up to develop next-generation Ebola vaccine

SK Bioscience said Wednesday that the company signed a memorandum of understanding with Hilleman Laboratories to cooperate on the development of a second-generation Ebola vaccine and its global supply. Hilleman Laboratories is a Singapore-based vaccine research organization, founded as a joint venture between US drug maker MSD and British foundation Wellcome Trust. Under the new partnership, SK Bioscience will work with Hilleman Laboratories to improve its vaccine production efficiency and therm

IndustryNov. 22, 2023

Dunamu CEO set for third term

Lee Sirgoo, CEO of Dunamu, the operator of Korea's largest cryptocurrency exchange Upbit, was officially tapped by board members to lead the fintech firm for another three-year term, it said on Wednesday. Lee, who has been serving his second term at the company, was first named its chief in 2017. The appointment is to be finalized through approval at a shareholders meeting, set to take place on Dec. 5. If approved, Lee’s term will last until December 2026. “I decided to assume

CompaniesNov. 22, 2023

Zyx Technology donates CAD software to Sungkyunkwan University

South Korean design software developer Zyx Technology said Wednesday that it has signed a memorandum of understanding with Sungkyunkwan University to donate its own developed computer-aided design (CAD), dubbed “ZYXCAD.” Under the agreement, the ZYXCAD program, worth 1 billion won ($770,000), will be available free of charge to college students and academic staff for the next three years. The signing ceremony was held at Sungkyunkwan University College of Engineering building in Suwo

IndustryNov. 22, 2023

Samsung renews CSR push for multicultural families, seniors

Samsung Group affiliates introduced a new corporate social responsibility program offering support to children of multicultural families and older adults, holding the launching ceremony in Seoul on Wednesday. With Cheil Worldwide and S1 in the lead, nine Samsung affiliates are taking part in running the new CSR program. Samsung said the companies are collaborating with the government, non-governmental organizations and experts in various industrial fields for the new program supporting the disad

IndustryNov. 22, 2023