Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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Seoul shares open higher on tech, battery gains
South Korean stocks started a tad higher Monday on gains from tech and battery shares. The benchmark Korea Composite Stock Price Index added 8.46 points, or 0.31 percent, to 2,757.02 in the first 15 minutes of trading. Tech and battery heavyweights led the upbeat start. Samsung Electronics, the world's No. 1 memory chipmaker, rose 0.51 percent and its rival SK hynix increased 1.53 percent. Leading battery maker LG Energy Solution edged up 0.12 percent, and Samsung SDI went up 2.75 percent.
MarketMarch 25, 2024
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Competition heats up in HBM market as Nvidia endorses Samsung chip
The race for leadership in the burgeoning high bandwidth memory chips market is growing fiercer, as Nvidia revealed its plan to secure orders for the cutting-edge component from Samsung Electronics, the Korean chip giant seeking to outsmart crosstown rival SK hynix. At a media briefing last week, Jensen Huang, the co-founder and CEO of Nvidia, openly endorsed Samsung Electronics and unveiled the company's plan to use the Korean chipmaker's HBM chips in the future. US-based Nvidia is the biggest
IndustryMarch 24, 2024
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Bithumb set to spin off non-exchange biz in IPO push
Local crypto exchange operator Bithumb Korea is set to simplify its corporate governance, spinning off its non-exchange business in a move designed to accelerate its stock market debut planned for next year. Bithumb Korea will separate its holdings business under a new name, tentatively coined Bithumb Investment, the company announced through a regulatory filing Friday. While the existing unit will be in charge of operating the country's No. 2 crypto exchange Bithumb, the newly launched uni
IndustryMarch 24, 2024
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Walter Cho charts course for seamless integration with Asiana Airlines
Korean Air Chair and CEO Walter Cho secured his position as a board member of the national flag carrier and pledged to steer the company toward successful integration with Asiana Airlines this year, marking a leap toward establishing a megacarrier. Cho received an 85 percent endorsement from participating shareholders during their annual meeting on Thursday. "Despite the prolonged timeline, the merger between Korean Air and Asiana Airlines will be a substantial driver of long-term growth,
IndustryMarch 24, 2024
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Paris Baguette, Pascucci partner for Italian market entry
SPC Group's bakery chain Paris Baguette is poised to enter the Italian market in collaboration with Italian coffeehouse chain Caffe Pascucci. SPC Group Chair Hur Young-in inked a business agreement with Mario Pascucci, CEO of the Italian coffee brand Caffe Pascucci, during Pascucci’s visit to Korea on Sunday, for the Korean franchise bakery's expansion to Italy. Paris Baguette's entry into Italy will mark its third expansion into Europe, following launches in France and Brit
IndustryMarch 24, 2024
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Kumho Tire wins highest rating in German performance tests
Kumho Tire’s model ECSTA HS52 tire has garnered recognition from tire performance tests conducted by German automotive magazines ADAC and Auto Bild, the company said Wednesday. In this year's comprehensive tire performance evaluations, the ECSTA HS52 model achieved third place with a "Good" rating from ADAC and fourth place, also rated as "Good," from Auto Bild. This made it the top-performing tire from a South Korean manufacturer. ADAC’s testing was among 16
MobilityMarch 24, 2024
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Posco extends child care support to tackle low birth rate
South Korean steel firm Posco Group has woven social welfare into its corporate strategies through its child care centers, open not just for their own workers but also those of its partner firms, as part of efforts to help tackle the nation's falling birth rate. The Shared Coexistence Work Child Care Centers, initiated in June 2020, are collaborative ventures between Posco and its suppliers, underscoring the group's dedication to supporting a work-family balance in response to national
IndustryMarch 24, 2024
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KB Financial Group names first woman board chair
KB Financial Group picked banking expert Kwon Seon-joo as its board chair, making her the first woman to serve in the role. The decision was approved at a board meeting on Friday. With over 30 years of experience in the financial industry, Kwon served as the CEO of the Industrial Bank of Korea from 2013 to 2016. She was the first woman to take the top position at a local bank. She joined KB Financial Group's board as an outside director in 2020. Kwon currently serves as the head of Women Co
IndustryMarch 24, 2024
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Hyundai Motor to double E-pit fast chargers by 2025
Hyundai Motor Group revealed on Sunday its plans to double the number of its ultra-fast chargers for electric vehicles in South Korea to 500 by 2025. As of March, the group operates 286 E-pit EV chargers in 54 locations in Korea. This initiative kicked off in April 2021, with a modest yet strategic deployment of 72 chargers distributed over 12 key rest stops on highways. Achieving the 2025 target of 500 units would mean a 600 percent increase from 2021. E-pit is Hyundai Motor Group’s ultra
MobilityMarch 24, 2024
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Executives get paid 11 times more than average employees: report
The average salary of an executive of a major South Korean corporation is almost 11 times that of an average employee working at those companies, a report by an online think-tank monitoring local conglomerates showed Sunday. Chaebol.com analyzed the salaries of the people working for 162 subsidiaries of 20 major conglomerates in South Korea in the 2023 fiscal year, and found that the executives of those companies get paid an average salary of 1.09 billion won ($810,000) a year, compared to 99.6
IndustryMarch 24, 2024
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Bosch, Lennox, Samsung vie for Johnson Controls HVAC assets, sources say
Robert Bosch GmbH, Lennox International and Samsung Electronics are among the industrial firms competing to acquire heating and ventilation assets worth over $6 billion from Johnson Controls International, people familiar with the matter said on Friday. Milwaukee-based Johnson Controls has been working with its advisers to sell its residential and light commercial businesses, including includes a US business and a 60 percent stake in an air-conditioning venture with Japan's Hitachi called
MarketMarch 23, 2024
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S. Korean shares fall on profit taking; won sharply down
South Korean shares closed slightly lower Friday as investors cashed in gains after the market rallied by more than 2 percent the previous session. The local currency fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index fell 6.3 points, or 0.23 percent, to close at 2,748.56. Trade volume was moderate at 501.3 million shares worth 11.3 trillion won ($8.42 billion), with gainers outnumbering losers 485 to 381. Foreigners bought a net 665 billion won worth of stocks,
MarketMarch 22, 2024
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Woori Bank first to start ELS compensation
South Korean banks are beginning compensation measures for losses stemming from the misselling of equity-linked securities tied to Hong Kong's Hang Seng China Enterprises Index, with the sector's smallest seller, Woori, leading the initiative. Woori Bank officially announced Friday it would begin the compensation process next month, in line with the outline issued by the financial watchdog. The decision was made during the company's board meeting that day. According to Woori Bank,
IndustryMarch 22, 2024
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[Test Drive] Hyundai Staria hybrid presents standard of multi-purpose vehicle
Hyundai Motor's flagship minivan Staria has returned with a hybrid engine powertrain and more comfort and safety options, paving the way for the future of multi-purpose vehicles. The Korea Herald had an opportunity to ride in the back of the Staria lounge hybrid model and got behind the wheel in a test drive in Goyang, Gyeonggi Province, Wednesday. The back of the seven-seater minivan gave a feeling of being treated from the beginning as a chauffeur opened the door with a touch of a button.
MobilityMarch 22, 2024
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Hyundai Motor to provide wheels for Korea-Africa summit in June
Hyundai Motor Group said Friday that it had joined hands with the Korean government’s preparatory committee to provide official transportation at the first Korea-Africa summit in June. Under the partnership, the automaker’s luxury brand Genesis will offer a total of 119 vehicles -- 77 units of the G90 flagship sedan and 42 units of the G80 luxury mid-sized sedan during the Korea-Africa summit slated to be held between June 4 and 5 in Seoul and Gyeonggi Province. The Genesis G90 has b
MobilityMarch 22, 2024
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Seoul shares open nearly flat on profit taking
South Korean stocks opened nearly flat Friday after hitting a nearly two-year high the previous session despite overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index edged down 2.76 points, or 0.1 percent, to 2,752.1 in the first 15 minutes of trading. On Thursday, the main index rallied by more than 2 percent amid growing hopes for US rate cuts in the near future. Overnight, the Dow Jones Industrial Average climbed 0.68 percent to a new high, while the S&P 500 and
MarketMarch 22, 2024
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Korean Air to sign $13.7 bln deal to buy 33 Airbus A350 jets
Korean Air Co., South Korea's No. 1 flag carrier, said Thursday it plans to sign a $13.7 billion deal with Airbus to buy 33 units of its latest A350 series aircraft. The company said the deal, which includes 27 A350-1000s and six smaller-sized A350-900s, will be clinched to supplement its long-term fleet operations as it retires its older aircraft. The A350-1000 is the largest in the A350 family, accommodating up to 410 passengers, and uses advanced composite materials to reduce fuel cons
IndustryMarch 21, 2024
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Samsung Display to pay out dividends for 1st time
Samsung Display Co. said Thursday it will pay out dividends for the first time since its establishment in 2012, a move that will lead its parent company Samsung Electronics Co. to receive about 5.6 trillion won ($4.2 billion) in dividends. At a shareholders' meeting Tuesday, Samsung Display decided to deliver 25,400 won per share in dividends totaling 6.65 trillion won, the company said in a regulatory filing. Samsung Electronics is the top shareholder of Samsung Display with an 84.8 perc
CompaniesMarch 21, 2024
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SK chief wins 2nd term as KCCI chair
SK Group Chairman Chey Tae-won was elected to head the Korea Chamber of Commerce and Industry, the nation's largest business lobby, for a second term, vowing to make more policy proposals to bring about disruptive innovation across industries. Chey was sworn in as the 25th chair of the KCCI after earning unanimous support from regional chamber leaders at the extraordinary general meeting held in Seoul on Thursday. He will serve his new three-year term until March 2027. In his inaugural re
IndustryMarch 21, 2024
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Galleria's foreign customer sales surpass pre-pandemic levels
Galleria Department Store, one of the nation’s leading luxury goods retailers, said Thursday that its sales to customers of foreign nationality soared to all-time highs in the first two months of this year, surpassing pre-pandemic levels. Its luxury brand stores posted 10 billion won ($8.4 million) and 7.5 billion won in sales to foreign customers in January and February, respectively, marking a 166 percent jump from the same period last year. "Foreign customer sales hit 26 billion wo
IndustryMarch 21, 2024