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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Taking away phones during school hours not a human rights violation: watchdog
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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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Worker dies following accident at bakery factory
A worker in her 50s who was injured earlier this week while working at a bakery factory in Seongnam, south of Seoul, died at a hospital Thursday, police said. The accident occurred Tuesday at a bread-making facility operated by Shani, a subsidiary of food and beverage conglomerate SPC. The worker became trapped in a dough machine at the bakery factory after a colleague operated the machinery without proper safety confirmation, according to police. She was promptly transported to a hospital in a
Aug. 10, 2023
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[KH Explains] Why Nexon shines alone in Q2
Nexon has come out on top in second quarter earnings among major Korean game developers, becoming the only company to post on-year growth in both sales and operating profits during the period. Nexon on Wednesday reported 902.8 billion won ($685.3 million) in sales and 264 billion won in operating profit in the April-to-June period, up 12 percent and 22 percent on year, respectively. The game maker thrived in the second quarter thanks to the success of strong intellectual properties and new title
Aug. 10, 2023
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Behind jamboree's halal food efforts
South Korea has bolstered efforts to offer diverse catering services for the World Scout Jamboree, taking particular care to offer adequate halal food options for Muslim Scouts. "Currently, we are aiming to create a halal ecosystem for the remaining 2,160 scouts in North Jeolla Province," said Lee Kwan-youn, the president of the Certified New Halal Industry Association and the CEO of Pacific Korea, a Korean textile retailer. Together with Wonkwang University, a university in North Jeol
Aug. 10, 2023
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[Herald Interview] ‘Empowering women goes beyond representation’
Achieving diversity and inclusion within a company goes beyond merely increasing the quantity and presence of female employees, said Tanuj Kapilashrami, the head of human resources at Standard Chartered Bank. In a country that often ranks near the bottom of global gender equality indices, SC Bank Korea has achieved approximately 30 percent representation of senior female leaders. “In Korea, we've made great progress. I'm incredibly proud of the fact that 30 percent of our senio
Aug. 10, 2023
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Hana teams up with Incheon, FSS to support SMEs on ESG efforts
Hana Financial Group said Thursday it signed a fresh agreement with the city government of Incheon and the Financial Supervisory Service to support small- and medium-sized businesses to better respond to calls for environmental, social and governance management. The signing ceremony was held at Hana Global Campus, the financial group’s human resource development center, in Incheon. Chairman Ham Young-joo, Incheon Mayor Yoo Jeong-bok and FSS Governor Lee Bok-hyun attended the event. "A
Aug. 10, 2023
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Hyundai Elevator vows to boost market share in China
Shanghai Hyundai Elevator, the Chinese affiliate of South Korea’s largest elevator manufacturer, has pledged to achieve a 5.9 percent market share in China by 2030, the company announced during its 30th anniversary ceremony held in Shanghai, China earlier today. The anniversary was held in the Smart Campus auditorium located in Geumsan Industrial District, Shanghai, China, with top executives, including Hyundai Group Chairperson Hyun Jeong-eun and Hyundai Elevator CEO Cho Jae-chun, in att
Aug. 10, 2023
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Nvidia’s new AI chip to offer boon for Korean chip giants’ HBM business
Nvidia’s newest AI chip utilizing the world’s first HBM3e processor is expected to boost growth for SK hynix and Samsung Electronics, the two chipmakers dominating the still-nascent High Bandwidth Memory market. Nvidia, a leading producer of GPUs based in the US, unveiled Tuesday its next-generation NVIDIA GH200 Grace Hopper platform at this year's SIGGRAPH Conference, an annual event on computer graphics, held from Sunday to Thursday in the US. The latest chip has been built
Aug. 10, 2023
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Posco-backed Senex Energy wins 7 gas supply deals
Posco International, a trading and energy firm under Posco Group, said Thursday that its Australian subsidiary Senex Energy has signed seven consecutive supply deals for natural gas with multiple international companies. Senex Energy has agreed to provide some 133 petajoules of natural gas -- an amount that can produce about 250 million metric tons of liquefied natural gas -- to seven companies, including Australia's leading energy firm AGL Energy, Australian steel supplier BlueScope Steel,
Aug. 10, 2023
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SK hynix unveils world’s first 321-layer NAND
SK hynix, the world’s second-largest memory chip maker, unveiled samples of the world’s first 321-layer NAND and next-generation memory solutions for AI demand at a global industry conference in the US on Wednesday. At the Flash Memory Summit, the world’s biggest annual conference for the NAND flash industry running from Tuesday to Thursday, SK hynix showcased its latest NAND flash chips and made public the progress on its development of the industry’s first NAND with mor
Aug. 9, 2023
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Korea to unveil medical care plans for pets in Oct.
The South Korean government plans to propose new policies to improve its medical care system for pets amid a growing pet population in the country. The number of households with dogs or cats in Korea came to 6.02 million last year, rising sharply by 65.4 percent from 3.64 million in 2012, according to the Ministry of Agriculture, Food and Rural Affairs' report at an intergovernmental meeting held Wednesday. According to the ministry, local households spend an average of 60,000 won ($45) p
Aug. 9, 2023
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SK Bioscience acquires 7% stake in Novavax
SK Bioscience, a pharmaceutical affiliate of South Korea’s SK Group, said Wednesday it has acquired a 7 percent stake, or 6.5 million shares, in US biotech firm Novavax in a deal worth some 110 billion won ($83.5 million). The stock deal was inked as a mean of payment for Novavax, which owed SK Bioscience for manufacturing the former's COVID-19 vaccine. On top of the new agreement, the companies also extended their recent license contract on Novavax’s new vaccine targeted at COV
Aug. 9, 2023
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Hyundai Motor outpaces Samsung in economic impact for 1st time: data
Hyundai Motor Group’s economic impact on South Korea's economy outpaced that of Samsung Electronics for the first time last year, data showed Wednesday. The combined economic contribution of Hyundai and its smaller affiliate Kia came to 164.6 trillion won ($124.7 billion), going beyond the 148.1 trillion won of Samsung Electronics, according to data from market tracker CEO Score. The economic impact of companies measures the wealth they create and return through local business activit
Aug. 9, 2023
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Abnormal weather sends fruit prices soaring
The prices of apples and pears are expected to rise due to decreased fruit yields caused by poor weather conditions, according to data released by government-funded research organization Korea Rural Economic Institute on Wednesday. The projection for the agricultural sector for August raises concerns because the two fruits are typically in high demand in September, as they are the most popular choices for gift sets for the upcoming Chuseok, or Korean Thanksgiving, holiday. The major national har
Aug. 9, 2023
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Coway air purifier tops US Consumer Reports ratings
South Korean home appliance maker Coway said Tuesday its latest air purifier, called the Coway Airmega ProX, has topped a recent US Consumer Reports rating among 186 air purifier models. The Coway air purifier earned the highest 93 points in performance evaluations conducted by Consumer Reports, a nonprofit consumer organization. It was the first time that a Korean brand air purifier has topped the rating. The Coway Airmega ProX also outpaced its rivals in terms of cleaning performance, energy e
Aug. 8, 2023
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[KH Explains] Will heiress’ abrupt departure spark succession race at Amorepacific?
Suh Min-jeong – the elder daughter of Chairman Suh Kyung-bae of South Korean beauty giant Amorepacific and the prime candidate to inherit the company – recently went into an abrupt yearlong leave of absence, fueling speculation about the company’s business strategy and succession scheme. Having already liquidated all of her stakes in Etude and Espoir, the two budget brands affiliated with the beauty giant, the 31-year-old heiress also donated half of her stake in Innisfree, one
Aug. 8, 2023
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Hanwha boasts highest number of overseas units among chaebol rivals
Defense-to-energy giant Hanwha Group operates the largest number of overseas units among the nation’s top chaebol groups, with the figure surging from last year’s 102 to 739 this year, according to a recent report by corporate tracker Korea CXO Institute on Tuesday. Hanwha, the nation’s seventh-largest conglomerate, outpaced its bigger rivals such as Samsung, SK and Hyundai Motor. In particular, the number of affiliates in the US jumped by 45 to 241, while those in Spain increa
Aug. 8, 2023
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LG Energy Solution to build battery recycling plants in China
LG Energy Solution will build two battery recycling plants in eastern China under a joint venture with top Chinese cobalt producer Huayou Cobalt, marking the first collaboration of its kind in the industry between Korean and Chinese companies. The pretreatment factory, which will be set up in Nanjing, Jiangsu province, will extract battery scrap generated from battery production and process used batteries, LG Energy Solution said in an announcement Tuesday. The post-processing factory, which wi
Aug. 8, 2023
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Starbucks Korea gives scholarships to patriots' descendants
Starbucks Korea announced Tuesday that it has donated scholarship funds to descendants of Korean independence activists who supported the country’s fight against Japanese colonial occupation. The donation ceremony was held earlier on the day at Starbucks Academy Center, also Starbucks Korea's former headquarters, located in Sogong-dong, Seoul, in collaboration with the Ministry of Patriots and Veterans Affairs and Community Chest of Korea, a local charity organization. It was attended
Aug. 8, 2023
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[Contribution] ASEAN and Korea on road to sustainable and equal partnership
By Kim Hae-yong, secretary general of the ASEAN-Korea Center Every August 8th, the Association of Southeast Asian Nations celebrates ASEAN Day in commemoration of its founding in 1967. While the celebration lends ASEAN’s collective effort to consolidate the region’s unity, it is also an opportune time to reflect on how ASEAN and Korea have become indispensable partners. Amid the multifaceted challenges brought about by the regional dynamics, the significance of the ASEAN-Korea par
Aug. 8, 2023
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LG Uplus Q2 net up 32% on robust wireless service
LG Uplus Corp., South Korea's No. 3 mobile carrier, said Tuesday its second-quarter net profit rose nearly 32 percent from a year earlier, driven by its robust wireless business. Its net income amounted to 213.3 billion won ($163.3 million) in the April-June period, up 31.7 percent from the year-ago period. Operating profit for the April-June period was 288 billion won, up 15.9 percent from a year ago, the company said in a regulatory filing. Revenue rose 1.3 percent to 3.42 trillion won. T
Aug. 8, 2023