Most Popular
-
1
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
2
S. Korea, Singapore seal supply chain agreement
-
3
Korean language teaching expert says demand has outstripped supply
-
4
Conscripting women to lead to 'more babies,' claims military think tank
-
5
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
6
Korea added to key bond index
-
7
Who is pollster roiling politics with claims of government string-pulling?
-
8
Taking away phones during school hours not a human rights violation: watchdog
-
9
Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
-
10
Korea launches antidumping probe into Chinese steel
-
‘Responsibility’ beats ‘professionalism’ in conglomerates’ hiring priorities
Demonstrating a sense of responsibility during a job interview will boost one’s chance of getting hired by large companies in Korea, a report from business lobby group Korea Chamber of Commerce and Industry showed Monday. Since 2008, the quinquennial report has been mainly looking into job recruiting announcements and websites of the top 100 local companies in terms of sales to find out trends in qualification that they seek in their applicants. “As the job market is expected to tu
Jan. 30, 2023
-
[Newsmaker] Why is Samsung starting a legal fight against smartphone repair shops in US?
Samsung Display has recently filed a complaint against 17 smartphone repair shops in the US over their use of “illegal” panels that it says infringed its highly sophisticated OLED patents, according to industry sources Monday. The display-making unit of Samsung Electronics is a market leader making almost 70 percent of OLED panels used in high-end mobile devices, including Samsung Galaxy and Apple iPhone smartphones. Sources say the company seems determined to offer no leniency for
Jan. 30, 2023
-
[Photo News] New year's trekking
S-Oil CEO Hussain A. Al-Qahtani and some 100 company staff participate in a new year's trekking event at Seoul Grand Park in Gwacheon, Gyeonggi Province, Friday. During the event, the CEO urged united efforts for the successful completion of the Shaheen Project, the refiner's $7 billion mega project building a large-scale petrochemical plant in Ulsan by 2026.
Jan. 29, 2023
-
Oriental Brewery outpaces rivals in beer sales
South Korea’s largest beer maker Oriental Brewery led last year’s domestic beer market, as the spirits market began to see signs of recovery after years of pandemic disruptions. During the January to November period last year, OB topped beer sales here with a whopping 53.7 percent market share, the firm said in a Jan. 19 press release. During the summer season, when competition in the market is extremely severe, the company posted a 53 percent growth in sales from June to August year
Jan. 29, 2023
-
Samsung hires ex-Ericsson execs to boost network business
South Korean tech giant Samsung Electronics has hired two experts from Swedish telco Ericsson to reinforce its network business. According to industry sources on Sunday, Samsung recently established a task force under its network business division to oversee a new business strategy. For the task force chief, the company hired Henrik Jansson, formerly the strategic sourcing manager for Ericsson. The company also recruited Jo Mi-sun who served as the head of sustainability and corporate responsibi
Jan. 29, 2023
-
S. Korea's imports of wine up 3.8 % in 2022
South Korea's imports of wine rose 3.8 percent in 2022 from a year earlier, data showed Sunday, as more people enjoyed consuming alcoholic beverages at home amid the COVID-19 pandemic. The total value of wine imported by South Korea last year came to $581.2 million, according to the data compiled by the Korea Customs Service, after hovering above the $500 million level for the first time in 2021. Market watchers said the increase in the consumption of wine came as the prolonged pandemic has
Jan. 29, 2023
-
KT&G refuses ginseng unit spin-off, aims to double sales by 2027
KT&G, South Korea's dominant tobacco and ginseng company, rolled out an aggressive mid-term business plan Friday to bolster its investment and sales in an apparent move to fend off a campaign launched by a Singapore-based activist fund. Under the plan, the company will invest a total of 3.9 trillion won ($3.1 billion) until 2027 with it businesses focused three areas -- next generation tobacco and nicotine products, often referred to e-cigarettes, and health supplement products includin
Jan. 27, 2023
-
LG Energy Solution logs record earnings on increased shipments
LG Energy Solution reported a twofold jump in operating profit last year, driven by increased demand for electric vehicle batteries and energy storage systems, the South Korean battery maker said Friday. Revenue rose 43.4 percent to 25.6 trillion won ($20.8 billion) in 2022, and its operating profit hit 1.2 trillion won, a 57.9 percent increase on-year. Sales and operating profit both hit new heights last year. “We were able to record the highest annual revenue as the shipments of our pr
Jan. 27, 2023
-
Samyang Foods opens premium ramen popup in Seoul
Samyang Foods on Thursday opened a popup store to promote its new premium dried noodle brand in Seoul. The noodle boutique, called Salon de Cootique, is set up at the space LES601 Seongsu in Seongsu-dong, and runs until Feb. 5, it said in a statement. In December last year, the firm launched a new premium dried noodle brand, Cootique -- a portmanteau of “cook” and “boutique.” The brand is dedicated to curating products inspired by global noodle dishes. At the popup store,
Jan. 27, 2023
-
[Newsmaker] [KH Explains] Are ex-bureaucrat execs a boon or bane for banks?
The bid by a former head of the country’s top financial regulator for the chairmanship of Woori Financial Group has stoked controversy and rekindled concerns of bureaucratic involvement in the highly regulated banking industry. Lim Jong-ryong was chairman of the Financial Services Commission from 2015 to 2017 under the Park Geun-hye administration. He also served as chairman of NongHyup Financial Group from back in 2013 to 2015. On Wednesday, Woori Financial Group’s union held
Jan. 26, 2023
-
Posco sets up task force to ride through uncertainties
South Korean steel giant Posco has set up a task force to overcome economic difficulties. Vice Chairman Kim Hak-dong will spearhead the task force, according to industry sources, Thursday. The task force is expected to focus on reducing costs spent on procuring raw materials, increasing profitability and maximizing business liquidity on the backdrop of difficulties in the global economy. In an email sent to Posco employees, Kim said, “let’s find out measures to save at least 1,000 wo
Jan. 26, 2023
-
Hanwha, Microsoft partner on solar energy
Hanwha Solutions on Thursday announced that it has signed a strategic partnership with Microsoft for solar energy projects, marking the first collaboration between a global solar supplier and an information and communication technology behemoth to reduce carbon emissions and boost the clean energy economy. Under the partnership, Hanwha Solutions, a chemical and energy company under South Korea’s seventh largest conglomerate Hanwha Group, said the two sides will push for various solar energ
Jan. 26, 2023
-
Samsung SDS posts record revenue on upbeat cloud sales
South Korean IT solutions provider Samsung SDS logged a record sales of 17.2 trillion won ($14 billion) in 2022 that was driven by an expansion in its cloud business, the firm said Thursday. In a regulatory filing, the company said its annual sales in 2022 saw a growth of 26 percent when compared to the previous year. It also posted an operating profit of 916.1 billion won. In the fourth quarter of 2022, the company garnered 4.25 trillion won in sales and an operating profit of 187.5 billion won
Jan. 26, 2023
-
SMEs Ministry readies plans to bolster support for exports
The Ministry of SMEs and Startups said Thursday it is ramping up efforts to facilitate the global expansion of small- and mid-sized firms by bolstering distribution and logistics support in overseas markets. The new plans were briefed during an emergency meeting of economy-related ministers earlier in the day. The ministry’s ultimate goal is raising the export contribution of SMEs from last year’s 39 percent to 50 percent of the nation’s total trade volume by 2027, with the amo
Jan. 26, 2023
-
Celltrion's anticancer biosimilar debuts in Japan
Celltrion Healthcare, the marketing unit of South Korean drug developer Celltrion, announced Thursday that it has expanded its product portfolio with the recent launch of its cancer-fighting biosimilar Vegzelma in Japan. Vegzelma is a biosimilar referencing Bevacizumab, which is sold under the brand name Avastin. In September of last year, the drug received sales approval from the Japanese Ministry of Health, Labor and Welfare for the treatment of metastatic colorectal cancer, non-small cell lun
Jan. 26, 2023
-
Samsung’s crisis management system wins ISO certification
Samsung Electronics said Thursday that it has won the ISO 22301 certification, a global recognition for crisis preparedness at its chip-manufacturing complex in Hwaseong, Gyeonggi Province. The ISO certification, awarded by the British Standards Institution, is the international standard for business continuity management system or BCMS, representing the highest level of commitment to business continuity and disaster preparedness. With the latest recognition, the world’s largest memory chi
Jan. 26, 2023
-
KT, Mongolia team up on rare earths supply
South Korean telecommunications giant KT Corp. said Thursday it has signed a partnership deal with the Mongolian government to secure a stable supply of some 80 kinds of mineral resources, including rare earth elements. KT CEO Ku Hyeon-mo signed the memorandum of understanding on mineral resources with Ganbaatar Jambal, Mongolia's Mining and Heavy Industry Minister, in Ulaanbaatar on the sidelines of a meeting that aimed to strengthen strategic cooperation in realizing digital transformatio
Jan. 26, 2023
-
Posco Chemical gets govt. approval for export of cathode technologies
Posco Chemical Co., a major South Korean producer of secondary battery materials, said Thursday it has obtained government approval for the export of its technologies related to producing cathodes, a key component used in electric vehicle cells. The decision was made earlier this month by the private-public committee handling industrial technology protection under the Ministry of Trade, Industry and Energy, according to Posco Chemical. South Korea has designated some 75 technologies in 13 indust
Jan. 26, 2023
-
Woori leads Korean banks in overseas sanctions in 2022
Woori Bank’s overseas subsidiaries received the most penalties last year among South Korea's top four commercial banks, according to DART, the Financial Supervisory Service's electronic disclosure board, on Wednesday. In 2022, Woori Bank that operates 11 overseas branches received a total of six penalties -- two in China, two in Indonesia, one in Russia and one in India. China's financial watchdog issued a warning and a fine of 200,000 yuan ($29,000) to Woori Bank China in A
Jan. 25, 2023
-
SK hynix develops world’s fastest DRAM for mobile devices
South Korean chipmaker SK hynix said Wednesday it has developed the world’s fastest mobile DRAM chips that have already been delivered to customers. The new product, named Lower Power Data Rate 5 Turbo, or LPDDR5T, operates at a data rate of 9.6 gigabits per second, 13 percent faster than the previous generation the company rolled out last November. According to the world's second-largest memory chipmaker, the low-power memory chip for mobile devices such as smartphones and tablet
Jan. 25, 2023