Most Popular
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Korea added to key bond index
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North Korea notifies UN Command of plans to fortify border with South
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Will Apple quit smart ring race with Samsung?
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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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Jay Park returns with quintessential R&B album after 8 years
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More deaths in ICU following doctors' mass walkout: lawmaker
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Security issues to take center stage at ASEAN summit
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Netflix's latest runaway hit is a Korean reality cooking show
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[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
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Patients opting to die with dignity on steady rise
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Upbit at forefront of fighting phishing scams
South Korea's largest cryptocurrency exchange Upbit has been at the forefront of preventing fraudulent digital transactions, with its state-of-the-art artificial intelligence-based fraud detection system, amid increasing virtual asset investment and related crimes. Using its latest technology, the company said Tuesday it has prevented voice phishing scams of some 25 billion won ($18.9 million). According to South Korea’s financial authorities, the annual scale of financial damages f
Aug. 29, 2023
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DGB to establish asset management firm in Singapore
DGB Financial Group, a Korean financial holding company, said it plans to establish an asset management company in Singapore. The company recently submitted an application to the Monetary Authority of Singapore seeking a license to operate as a registered fund management company. "Our primary focus for now is securing the approval as Singapore financial authorities have tightened their approval processes due to the substantial influx of Hong Kong funds into the country," a DGB Financia
Aug. 29, 2023
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S. Korea to export premium 'hanwoo' beef to Cambodia for 1st time
South Korea will export "hanwoo," or premium Korean beef, to Cambodia for the first time, the agriculture ministry said Tuesday. The two nations signed the first contract for South Korean beef to be exported to the Southeast Asian country Monday, eight years after reaching an agreement on quarantine negotiations, according to the Ministry of Agriculture, Food and Rural Affairs. South Korea aims to export 2,000 tons of hanwoo worth US$100 million over the next five years, it added. In M
Aug. 29, 2023
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Hyundai E&C ranks 11th worldwide in 2022 overseas sales
Hyundai Engineering & Construction Co., South Korea's No. 2 builder, has placed 11th among global construction companies in terms of overseas sales, an industry report showed Tuesday. Hyundai E&C posted $6.83 billion in overseas sales in 2022, up 18.6 percent from a year earlier and the 11th-largest worldwide, according to the 2023 international builder ranking by the US trade journal Engineering News Record. Hyundai E&C's 2023 ranking was up two notches from the previous y
Aug. 29, 2023
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GS E&C to look abroad as business suspension looms
South Korean builder GS Engineering & Construction, facing an unprecedented business suspension for up to 10 months over the recent collapse of an underground parking lot it built, seems to have no other way but to go abroad to seek new business opportunities for the time being, industry sources said Monday. According to an official from the Ministry of Land, Infrastructure and Transport, the government will push to suspend the company’s operations for eight months under the land minister&
Aug. 28, 2023
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Export slump to recover in first half of 2024: KITA
Korea's export downturn will see a recovery in the first half of next year, with the semiconductor market expected to rebound in the fourth quarter of this year, the Korea International Trade Association forecast on Monday. The prediction was based on findings that the primary factor behind Korea's export slump is the slowdown in the global information and communications technology market, according to KITA. “Upon closer examination, I realized that the decrease in the global d
Aug. 28, 2023
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BBQ Chicken ranked among US' fastest-growing restaurant chains
Genesis BBQ, the operator of Korean fried chicken franchise BBQ Chicken, said Monday it has been ranked one of the fastest-growing restaurant chains in the United States, for three consecutive years. BBQ Chicken was named seventh among the top 25 restaurant brands that achieved the fastest growth ranked by Nation’s Restaurant News, a US publication that covers the food service industry. The criteria for the ranking includes the growth in the number of outlets, total sales and sales per s
Aug. 28, 2023
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[KH explains] Is a third-party buyout of Asiana Airlines around the corner?
Amid ongoing delays in a high-profile merger between South Korea’s top two air carriers Korean Air and Asiana Airlines, some market watchers are speculating that strategic investors are preparing for a possible third-party buyout of Asiana. Private equity funds are reportedly releasing requests for proposals to interested parties regarding the 1.8 trillion won ($1.3 billion) Korean Air-Asiana deal to solicit responses, according to some investors. The requests come amid delays in the deal
Aug. 28, 2023
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LG Chem leads innovative efforts in carbon neutrality
Amid mounting global calls for sustainable development, South Korea’s largest chemical firm LG Chemical has been researching ways to produce eco-friendly plastics. Under the global campaign of achieving carbon neutrality by 2050, the international race has intensified across the petrochemical industry to reduce carbon emissions, and plastic recycling is considered the most expedient approach. In this aspect, LG Chem has successfully secured a competitive edge over its rivals by developing
Aug. 28, 2023
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Samsung recruiting foreign tech talent to work at Korean operations
Samsung Group's key technology affiliates -- Samsung Electronics, Samsung Display and Samsung SDI -- will hire experienced workers with research and development capabilities from outside the country, according to industry sources on Monday. South Korea's largest conglomerate has been carrying out recruiting activities to secure outstanding R&D talent from around the world. It newly introduced the foreign experienced employee recruitment process this year for foreign skilled worke
Aug. 28, 2023
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‘Samsung needs control tower’: compliance committee chief
Samsung Group is a "massive aircraft carrier" and so it needs a control tower for better efficiency and unity, the chief of the tech giant's compliance committee said in an interview with a local news outlet on Aug. 23. "A small sailing boat does not need a control tower, but Samsung is a giant aircraft carrier. Unless the company’s different divisions completely divide to stand on their own, the lack of a control tower can lead to problems in efficiency and unity,&rd
Aug. 27, 2023
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[Photo News] Samsung Galaxy Z Flip 5 arrives in Japan
Campaign clips for Samsung Electronics’ latest Galaxy Z Flip5 are played on the digital signage boards in Sibuya, the busy shopping district in Tokyo, Sunday. Preorders started for the new foldable phones in Japan last Tuesday, with their official launch set for Sept. 1. (Samsung Electronics)
Aug. 27, 2023
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Food trade agency chief wins leadership award
Kim Chun-jin, CEO of the Korea Agro-Fisheries & Food Trade Corp., won the 2023 South Korea Leadership Award presented by the Korean Association for Public Administration on Thursday. The chief of the state-run food trade agency was recognized for bolstering a low-carbon diet campaign called “Green Food Day” in collaboration with 522 organizations based around world. The campaign urges global populations to produce eco-friendly certified agricultural products, reduce waste in the
Aug. 27, 2023
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LG Energy Solution grows together with workers
South Korea’s leading battery maker LG Energy Solution strives to create a happier corporate culture, under the philosophy that corporate growth is achievable when employees are truly satisfied with their workplace. The nation’s overall corporate culture is now moving away from its obsolete hierarchical culture along with the rise of the so-called “MZ Generation” -- millennials and Generation Z, who were born between the early 1980s to early 2010s -- putting importance on
Aug. 27, 2023
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[Photo News] World's first wireless OLED TV
LG Electronics on Sunday debuted the world’s first wireless OLED TV globally. The tech giant’s 97-inch LG Signature OLED M TV and its 83-inch and 77-inch variants will hit the European market following release in North America and South Korea. (LG Electronics)
Aug. 27, 2023
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Hana donates educational supplies for Mexican students
Hana Financial Group said Sunday that it has donated educational supplies for students of a female boarding school in Mexico to support their English education. Escuela Villa de las Ninas, located in the state of Chalco, was founded by the Korean Catholic congregation called the Sisters of Mary in 1991, with the aim of funding the education of female students from economically disadvantaged backgrounds. Currently, the school is housing some 3,300 students in its dormitories. The donation cerem
Aug. 27, 2023
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Ex-Ssangyong Group Chairman Kim Suk-won dies at 78
Kim Suk-won, former chairman of the now-defunct Ssangyong Group, has died of old age, his aides said Saturday. He was 78. Kim took over the midsized business group, which started as a cement-making company in 1975. The business group went on to aggressively expand into the construction, financial and automaking sectors. In 1986, Ssangyong Group took over a local automaker that focused on producing SUVs. But Kim's empire crashed in the aftermath of the 1997 Asian financial crisis, and he was
Aug. 26, 2023
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Celltrion expects 50% jump in 2024 sales after merger
South Korean pharmaceutical company Celltrion said it aims to log 3.5 trillion won ($2.6 billion) in revenue 2024 once its merger with two affiliates is completed, an increase of over 50 percent from the revenue estimated for this year. During an online meeting with investors on Thursday, Celltrion Founder and Chairman Seo Jung-jin said the company will consider an initial public offering of Celltrion Holdings, the holding firm of Celltrion Group, if necessary after the merger. When the merger o
Aug. 25, 2023
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President Yoon appoints chief of broadcasting watchdog
President Yoon Suk Yeol on Friday approved the appointment of Lee Dong-kwan as the new head of the state broadcasting watchdog, the Korea Communications Commission, despite controversy surrounding Lee and his son. Yoon conferred a letter of appointment to Lee, a former journalist who served as a senior secretary for press affairs during the Lee Myung-bak administration, at the presidential office in Yongsan-gu, Seoul, on Friday in the late afternoon. The appointment decision came even after the
Aug. 25, 2023
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E-Mart 24 to enter Cambodian market next year, aims to run 100 outlets by 2028
E-Mart's convenience store chain, E-Mart 24, said Friday it will foray into the Cambodian market next year to tap into the country's economic growth potential. E-Mart 24 plans to open its first outlet in the country by the first half of 2024, becoming the first Korean convenience store operator to do so. The Korean retailer said it signed a three-way memorandum of understanding with a Cambodian retail firm, Saisons Brother Holding Corp. and Korean real estate Hanlim Architecture Group
Aug. 25, 2023