Most Popular
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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S. Korea, Singapore seal supply chain agreement
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Korean language teaching expert says demand has outstripped supply
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Korea added to key bond index
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Conscripting women to lead to 'more babies,' claims military think tank
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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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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Who is pollster roiling politics with claims of government string-pulling?
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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SKC signs MOU with Vietnamese city for green, advanced materials investment
SKC Co., a South Korean manufacturer of advanced materials, signed Monday a preliminary agreement with the government of Vietnam's Hai Phong city to explore potential investment in advanced materials for secondary batteries, semiconductors and other green sectors. Under the memorandum of understanding, SKC will consider ways to invest in Hai Phong, a major port city in northeastern Vietnam, as a site for its expansion into those high-tech materials, the Seoul-based company said in a release
June 12, 2023
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[Herald Interview] Canada a crucial partner for Korea in reducing China risks
Canada has high potential to become a key trading partner for South Korea in its ongoing efforts to reduce geopolitical risks fueled by the escalating US-China rivalry, according to partners from an Ottawa-based international law firm. As Korea looks to make the most of the Inflation Reduction Act in the US, more companies are seeking to expand their presence in Canada, appreciating its proximity to the all-important US market and abundant natural resources. “Korea has the technology and C
June 11, 2023
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KB, Japan’s Sompo team up for nursing care services
KB Financial Group, the leading financial services provider in South Korea, said Sunday it has signed a memorandum of understanding with Japanese insurance giant Sompo Holdings with an aim to facilitate collaboration in developing customized nursing care services. The signing ceremony was held at Sampo’s headquarters in Tokyo on Thursday, with KB Financial Chairman Yoon Jong-kyoo and Sampo Holdings Chairman Sakurada Knego in attendance. Sompo Holdings is Japan's largest insurance grou
June 11, 2023
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HanmiGlobal to promote employees expecting third child, introduce policies encouraging birth
South Korean construction management firm HanmiGlobal announced a new welfare policy Friday under which it will promote any employee who will have a third child, and offer financial support for all workers expecting a child. The company said any employee expecting a third child will be promoted, regardless of the employee’s performance or the length of their service at the company. For those employees who will have a fourth child, HanmiGlobal will give financial support for hiring babysitt
June 9, 2023
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Repair cost for Asiana plane forced open in mid-air estimated to be W640m: ministry
The Ministry of Land, Infrastructure and Transport estimates the repair cost of an Asiana Airlines aircraft that was forced open by a passenger mid-air, to be about 640 million won ($494,000), according to data released by a lawmaker Friday. In its interim probe, the ministry found the aircraft involved in the incident suffered damages to three areas, the emergency door and slides, according to data from the Transport Ministry received by office of Rep. Jang Chul-min of the main opposition Democ
June 9, 2023
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Hahn & Co. to acquire medical device maker Lutronic
South Korea’s largest private equity firm, Hahn & Company, announced Friday it has signed a definitive agreement with Lutronics jointly to launch a tender offer for all remaining shares of the Korean medical device maker, worth 957 billion won ($735.9 million). Lutronic, established in 1997, has been expanding its global presence supplying aesthetic medical devices in overseas markets, according to Hahn & Co. In 2022, Lutronic reported sales of over 264 billion won in 2022, with 40
June 9, 2023
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Business lobbies of S. Korea, Japan to work together on Busan expo bid
The chambers of commerce of South Korea and Japan agreed Friday to work together to promote Busan's bid to host the 2030 World Expo, the Korea Chamber of Commerce and Industry said. The agreement was reached between the KCCI and the Japan Chamber of Commerce and Industry during a meeting held on Friday in Busan, attended by KCCI Chair Chey Tae-won and JCCI Chair Ken Kobayashi. Under the partnership, the KCCI will support its Japanese counterpart for a successful opening of the Osaka-Kansai
June 9, 2023
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South Korea joins world's 1st digital trade pact to boost exchange
South Korea has become the fourth country to join the world’s first multilateral digital trade agreement, the Digital Economic Partnership Agreement, to boost its digital content and service exchange, the Trade Ministry said Friday. Trade Minister Ahn Duk-geun met with his counterparts from the three DEPA member states -- Singapore, New Zealand and Chile -- on the sidelines of their Organization for Economic Cooperation and Development ministerial council meeting in Paris, to finalize the
June 9, 2023
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[Bio USA] Who’s behind Samsung Biologics' evolving technology?
By Park Han-na Korea Herald correspondent BOSTON – Providing speedy drug-producing service with the world’s largest production capacity has been the main driving force of the rapid growth Samsung Biologics has enjoyed over the past 10 years. In the next 10 years, the company will focus on innovative technology in pursuit of becoming a global top-tier biopharmaceutical company, said Chung Nam-jin, executive vice president and head of the Bio R&D Center at Samsung Biologics. La
June 8, 2023
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Samsung Biologics wins record Pfizer deal
Samsung Biologics said Thursday the company won a $411.3 million contract manufacturing deal from Pfizer to produce the US-based pharmaceutical giant’s biosimilar products. Even though the company didn’t specify the product name, industry watchers predict that the deal is highly likely to involve producing Pfizer’s Abrilada, a biosimilar to the autoimmune disease drug known as Humira. In the statement, Samsung said it will produce Pfizer’s multiple biosimilar products wit
June 8, 2023
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KSOE vows to lead eco-friendly innovation at Nor-Shipping
HD Korea Shipbuilding and Offshore Engineering said Thursday it has participated in Nor-Shipping 2023, an exhibition where Norwegian and international companies showcase solutions and innovations for maritime business and sustainable ocean development. HD Hyundai President Chung Ki-sun and HD Korea Shipbuilding & Offshore Engineering Vice Chairman Ka Sam-hyun also attended the event, which was held in the Norwegian capital of Oslo from Tuesday through Friday. During their visit, the top ex
June 8, 2023
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SK hynix begins mass production of industry's highest-layer-count NAND chips
SK hynix, the world’s second-largest memory chip maker, said Thursday it has begun mass production of its 238-layer 4D NAND Flash memory, boasting the industry's highest layer count and widening the technological gap with its rivals. The chipmaker said it has also begun product compatibility tests with a global smartphone manufacturer. When completed, it will begin supplying the 238-layer NAND product for smartphones, and expand usage across its product portfolio, such as Peripheral C
June 8, 2023
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Finance minister predicts trade surplus in Q4 on chip rebound, China reopening
Finance Minister Choo Kyung-ho on Thursday predicted South Korea’s trade balance is highly likely to turn surplus as early as in the fourth quarter, citing a rebound in chip prices and China’s reopening. "In April, the trade balance was not favorable due to overseas dividend issues, but I believe that after May, it will improve," Choo said at a press conference hosted by the Kwanhun Club, an association of Korean journalists, in Seoul. "Considering this trend of decrea
June 8, 2023
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Posco International wins new motor core deal from Hyundai Motor
Posco International announced Thursday that its subsidiary, Posco Mobility Solution, has signed a contract with Hyundai Motor Group to supply additional 2.5 million units of automotive motor cores for Hyundai's flagship electric vehicles, to be produced between 2025 and 2034. The latest deal came after two previous supply agreements Posco International signed with the Korean auto giant in November last year and January this year, under which the company would supply 3.4 million and 950,000
June 8, 2023
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[Photo News] LG StandbyMe Go preorders sell out
LG Electronics said Thursday that its new portable touch-screen OLED TV, StandbyMe Go, sold out in 10 minutes in a livestreamed preorder event for the first batch of 200 units. The latest portable TV, a new addition to the original StandbyMe TV lineup, allows users to view media content while enjoying outdoor activities like camping. It is priced at 1.17 million won ($896).t
June 8, 2023
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[Bio USA] Yposkesi’s 2nd plant to be in full swing in 2025: VP
BOSTON -- Yposkesi, the French contract development and manufacturing arm of Korean biopharmaceutical firm SK pharmteco, expects that its second plant will be at full capacity as the cell and gene therapy market is rapidly evolving, the firm’s executive said. The SK’s clinical and commercial viral vector manufacturing arm for cell and gene therapies is seeking to capitalize on the growing cell and gene therapy market with its new manufacturing plant, which is under construction nea
June 8, 2023
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[Exclusive] SKC joins hands with Indonesia’s Chandra Asri to boost biodegradable business
SKC, the chemical unit of SK Group, has joined hands with Indonesia’s leading petrochemical producer, Chandra Asri, to expand its burgeoning eco-friendly materials business in Southeast Asia, according to an industry source familiar with the matter on Thursday. According to the source, Ecovance, a subsidiary of SKC, inked a memorandum of understanding with the Indonesian firm on their business partnership last month. Under the agreement, the two companies plan to develop products using Eco
June 8, 2023
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[Photo News] Hanwha Ocean makes debut
Hanwha Group Vice Chairman Kim Dong-kwan (second from left) on Wednesday visited Hanwha Ocean's exhibition booth at the International Maritime Defense Industry Exhibition, or MADEX 2023, held at the Busan Exhibition and Convention Center. The exhibition marked Hanwha Ocean's official debut after Hanwha completed the takeover of Daewoo Shipbuilding and Maritime Engineering last month and rebranded DSME to Hanwha Ocean. According to Hanwha, Kim underscored the importance of quickly norma
June 7, 2023
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LS Cable & System to build Korea's largest offshore wind farm
South Korean cable maker LS Cable & System said Wednesday it won an order worth some 100 billion won ($76 million) to build the country's largest offshore wind farm in joint cooperation with Hanwha Corporation Engineering & Construction. According to the company, LS Cable & System has been selected as supplier of submarine communication cables for Hanwha Corp. E&C's Shinan Ui offshore wind power project. The project, which is scheduled to be completed by 2026, aims to c
June 7, 2023
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LG Energy Solution to enhance battery supply chain in US
LG Energy Solution has joined hands with Novonix, an Australian battery materials and technology firm, to strengthen the supply chain of a core battery material in North America, the South Korean battery maker said Wednesday. According to the announcement, LG Energy Solution signed a joint development agreement with Novonix to co-develop artificial graphite, a core anode material in making lithium-ion batteries for electric vehicles. Novonix also agreed to issue $30 million worth of unsecured no
June 7, 2023