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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Philips seeks to fight health care shortcomings with digitization
By Lee Yoon-seo Korea Herald correspondent SINGAPORE -- Philips APAC, the multinational health care solution provider Philips' headquarters for the Asia-Pacific region, on Wednesday said it is committed to digitizing the APAC health care industry to enable better patient outcomes and drive greater work satisfaction, focusing on its state-of-art technologies as the health care sector grapples with escalating financial pressures and staff shortages. Via a media event at Philips APAC's
July 26, 2023
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Samsung Biologics posts all-time-high earnings for H1
Samsung Biologics said Wednesday that the company’s earnings in the first half reached all-time highs, with 1.59 trillion won ($1.23 billion) in sales and an operating profit of 445.2 billion won, supported by a solid contract-winning spree. Compared with the first half of last year, Samsung Biologics' sales increased by 36 percent, while its operating profit climbed 29 percent. Samsung Biologics’ attributed its improved earnings this year to the large-scale contract manufacturi
July 26, 2023
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SK hynix remains in red for 3rd consecutive quarter
SK hynix, the world’s second-largest memory chip maker, reported an operating loss of 2.8 trillion won ($2.1 billion) in the second quarter of this year, falling into the red for the third consecutive quarter amid a severe market downturn. While the quarterly loss is the second-largest since SK Group acquired the chipmaker in 2012, the company said earnings are on track for recovery with market demand increasing for high-value-added chips related to artificial intelligence technology. In a
July 26, 2023
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Battery stock frenzy drives Kosdaq volatility
The total market capitalization of the secondary bourse Kosdaq surpassed 458.4 trillion won ($354.8 billion), reaching an all-time high on Wednesday morning. However, in the afternoon, stock prices began fluctuating. Just a day after hitting a record-high of 454.57 trillion won on Tuesday, the Kosdaq market capitalization continued to expand, surpassing the previous day's record. The recent rise and drop can be attributed to significant influence of the market capitalization of battery mate
July 26, 2023
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GS E&C to join UK's largest modular housing project
GS Engineering and Construction announced Wednesday that its UK-based subsidiary modular company Elements Europe has secured a construction contract for the Camp Hill project, the largest modular housing project in the UK. The project, valued at around 210 billion won ($164 million), is a city redevelopment project by the UK's Goodstone Living at Camp Hill site located around 1.6 kilometers from the Birmingham city center. The project aims to construct six buildings, spanning three to 26 f
July 26, 2023
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Hanwha Aerospace to develop fighter jet engine materials
Hanwha Aerospace on Wednesday said it is poised to develop engine materials for fighter jets in a move to bolster the nation’s self-defense capabilities. The defense and aerospace unit of Hanwha Group signed a memorandum of understanding with the Korean Institute of Metals and Materials, the Korea Aerospace Technology Research Association, the Korea Evaluation Institute of Industrial Technology and Seoul National University on developing, forging and casting materials for Inconel 718, a sp
July 26, 2023
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Vine Group, Goodwill Store host donation campaign for disabled
Vine Group has teamed up with Goodwill Store to host a donation campaign throughout July, marking their fifth collaboration since 2019. Under the theme "connecting hearts, connecting sharing and connecting values," this year's campaign aims to encourage recycling and create job opportunities for the disabled. Goodwill Store, Vine Group's longtime collaboration partner, is a company committed to transforming the lives of people with disabilities through employment. The company
July 26, 2023
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Posco’s Steel ContiNew project revitalizes abandoned rural houses
South Korean steelmaker Posco is ramping up its efforts to revitalize depopulated areas in the provinces by renovating abandoned houses under its ongoing project, Steel ContiNew. The project was first launched in December 2021 to address growing concerns over an increase in the number of abandoned houses in areas outside of Seoul caused by a combination of factors including the country's declining birth rate, rapid aging and the shrinking population particularly in the countryside. By u
July 26, 2023
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SK hynix flags losses for 3rd consecutive quarter, sees market bottoming out
SK hynix Inc. said Wednesday it logged losses for three quarters in a row as a demand slump continued amid macroeconomic woes, but it called the bottom on the chip market. The world's second-largest memory chip maker said in a regulatory filing its operating losses amounted to 2.88 trillion won (US$2.25 billion) in the April-June period, compared with a profit of 4.19 trillion won a year ago. Net losses came to 2.98 trillion won, plunging from a net profit of 2.88 trillion won a year earlie
July 26, 2023
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[Exclusive] BTS’ Suga to appear at Samsung's Galaxy Unpacked event in Seoul
Suga of K-pop phenomenon BTS is set to participate in Samsung Electronics' upcoming Galaxy Unpacked event, which will be the tech giant’s first unveiling of its flagship phones at home, according to industry sources Tuesday. “Suga will attend the event as a guest, but he will not be performing on the stage,” an industry official, who wished to remain anonymous, told The Korea Herald. Another source close to the matter also confirmed his appearance, saying, “Samsung p
July 25, 2023
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Korea, Indonesia vow to bolster business ties
Top government officials and entrepreneurs from South Korea and Indonesia on Tuesday renewed their commitment to bolstering economic and business ties between the two countries, commemorating the 50th anniversary of bilateral relations this year. “As of 2022, South Korea became the seventh largest investor in Indonesia, reaching $2.29 billion, a 40.06 percent jump from a year earlier. Indonesia is ready to cooperate with Korea in the field of technology exchange, investment, education, R
July 25, 2023
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New AI alliance launched
A group of South Korea’s leading companies in 10 major sectors including automobiles, shipbuilding, battery, robots and steel, agreed to form an alliance to strengthen competitiveness by linking and cooperating on value chains across industries with the latest artificial intelligence technologies, the Ministry of Trade, Industry and Energy said Tuesday. The Industry AI Alliance is comprised of the Ministry of Trade, Industry and Energy, public organizations and over 400 domestic firms, inc
July 25, 2023
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LG’s upgradable home appliances to make global debut next year
LG Electronics introduced the new and improved version of its home appliance brand Tuesday to offer "hyperpersonalized" user experiences, raising connectivity and offering new subscription services to make doing household chores easier. Presenting the enhanced plan for the brand UP Appliance 2.0 to expand its business portfolio into nonhardware services and subscription services in Korea, the tech giant said it will be launching the upgraded brand overseas from next year. "UP Appl
July 25, 2023
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[KH Explains] New bourse operator to transform stock market
A new bourse operator is looking to shake up the Korean stock market next year, with a launch that would break up Korea Exchange's monopoly for the first time in nearly seven decades. On July 19, the Financial Services Commission granted preliminary approval for the alternative trading system called Nextrade. A total of 34 companies, including leading brokerage houses and ICT firms, as well as the Korea Financial Investment Association, a non-profit, self-regulatory organization which has
July 25, 2023
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Posco International secures oil share in Indonesia's gas block
Posco International announced Tuesday that it has inked a production sharing contract with the Indonesian government and its state-run oil company Pertamina Hulu Energi, in a move to secure the share of oil produced from the Bunga gas block located off Indonesia's eastern Java island. The signing event was held at Tangerang, Indonesia, earlier on the day with top executives including Posco International CEO and Vice Chairman Jeong Tak and PHE CEO Wiko Migantoro in attendance. A production s
July 25, 2023
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[Contribution] Cash or bonds?
By Manpreet Gill One of the biggest investment debates of our times is whether to own cash or government bonds. In the developed markets, one of the most rapid policy rate hiking cycles in history has meant that short-term returns from cash are now higher than what one can earn on a longer maturity bond. Unsurprisingly, this has led to a significant move into cash deposits or money market funds across major economies around the world. Despite this, many asset allocators (ourselves included) co
July 25, 2023
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Bacardi Korea teams up with artists for Bombay Sapphire exhibition
Bacardi Korea has collaborated with four emerging Korean artists in a Bombay Sapphire brand exhibition, under a global campaign named Stir Creativity, which is running until July 31 in Seoul. Bombay Sapphire, founded in 1761, is a premium London Dry Gin brand famous for its unique vapor infusion method that utilizes 10 botanical ingredients from various corners of the world. The brand ranked first in sales in the domestic gin market last year. Works by the artists -- Goo Gi-jeong, Park Seon-mi
July 24, 2023
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Posco Holdings’ quarterly profits recover to hit W1.3tr
Posco Holdings, the holding company of South Korea's top steelmaker Posco, said Monday that its operating profit in the second quarter reached 1.3 trillion won ($1.03 billion), recovering from a sluggish performance in the previous quarter this year. It is also the first time for the company's operating profit to surpass 1 trillion won since the second quarter of last year, the company added. During the three-month period, the company’s sales reached 20.1 trillion won, also up fr
July 24, 2023
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[KH Explains] KakaoTalk reigns at home, but falters overseas
KakaoTalk has dominated South Korea’s messenger app market, as it connects people and offers numerous services affiliated from taxi-hailing to banking. While an increasing number of local users heavily rely on the messaging app, about 2.25 million people abroad, which take up over 4.2 percent of all users, fled from the messaging app in the past decade, according to the latest data from its operator Kakao. Launched in March 2010 as a free mobile messenger, the number of KakaoTalk’s m
July 24, 2023
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[Photo News] Making K-chicken
A group of ambassadors, consuls and their families make Korean-style fried chicken during a class offered by South Korean fried chicken franchise Genesis BBQ in Gwangju, Gyeonggi Province, Friday. The event was attended by diplomats from nine countries, including Malaysia, Panama, Congo, Sierra Leone, Zambia, Nigeria, Uzbekistan, the Ivory Coast and the UK. BBQ plans to hold more classes until the year-end, inviting diplomats and their families to taste and make its signature chicken dishes, suc
July 24, 2023