Most Popular
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S. Korea, Singapore seal supply chain agreement
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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Korean language teaching expert says demand has outstripped supply
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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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Who is pollster roiling politics with claims of government string-pulling?
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Taking away phones during school hours not a human rights violation: watchdog
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Korea launches antidumping probe into Chinese steel
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Korea added to key bond index
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Team KAIST ready to show off latest autonomous driving tech at CES 2023
As the annual Consumer Electronics Show is slated to open in Las Vegas next week, a South Korean team is gearing up for an attention-grabbing autonomous driving competition. "It is very meaningful to participate in the event and try to solve technological challenges of making autonomous driving cars faster and safer," Shim Hyun-chul, a professor who leads Team KAIST, told Yonhap News Agency via phone on Monday. Shim's team, consisting of a handful of graduate students from the lab
Dec. 27, 2022
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China OKs Korean Air-Asiana combination
China's antitrust regulator has approved Korean Air Co.'s integration with smaller local rival Asiana Airlines Inc., with approval yet to come from four countries, Korean Air said Tuesday. The Ministry of Commerce of the People's Republic of China has demanded the merged Korean Air-Asiana entity reduce its market share due to competition concerns, Korean Air said in a statement. In response, Korean Air submitted solutions to a possible monopoly on nine routes between the two count
Dec. 27, 2022
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Is KAI on Hanwha’s mind after DSME acquisition?
Hanwha Group’s planned acquisition of Daewoo Shipbuilding and Marine Engineering, the nation’s No. 2 shipbuilder, is once again fueling speculation over its possible attempt to take over Korea Aerospace Industries, the sole aircraft maker here that would complete the conglomerate’s vision to become the Korean version of Lockheed Martin. The rumor of Hanwha looking into buying the state-run Export-Import Bank of Korea’s 26.41 percent stake in KAI began late September after
Dec. 26, 2022
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Public utility charges to rise to cover snowballing debts
The South Korean government will consider increasing public utility fees for the following year to offset widening deficits in the electricity, gas and subway sectors. While the government is set to announce its plan on raising utility prices on electricity and gas within this week, Seoul subway fares are also expected to go up after a yearslong freeze. According to the Ministry of Trade, Industry and Energy and the Ministry of Economy and Finance on Monday, the two government bodies are at the
Dec. 26, 2022
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Hyundai Heavy Industries renames itself HD Hyundai
Hyundai Heavy Industries Group said Monday it is rebranding as HD Hyundai, opening a new chapter in its 50-year history as the nation’s top shipbuilder. The group also unveiled its new mission for the future -- to “pursue innovation that leads the era, and constantly challenge itself to pioneer the future of humanity” -- during its 50th anniversary ceremony held at a research and development center in Pangyo, Gyeonggi Province. It presented a vision for each of its three key bu
Dec. 26, 2022
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Korean strawberries showcased in Vietnam
The Korea Agro-Fisheries and Trade Corporation (aT) said Sunday it had hosted the “Korean Premium Strawberry Launching Show” on Dec. 16, in Hanoi, Vietnam, together with Korea’s Ministry of Agriculture, Food and Rural Affairs and integrated strawberry export organization K-Berry. The event invited local food importers, online influencers, and retail firms to introduce them to different Korean strawberry breeds. Participants were able to try samples of four Korean premium strawb
Dec. 26, 2022
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Coway boosts eco-friendly projects
South Korean home appliance maker Coway said Sunday it has been expanding its eco-friendly management in 2022 through clean energy and environment preservation projects. Coway has been installing solar energy plants on the rooftops of its facilities since 2013. Most recently it began construction of a solar power plant in October on the roof of its global sleep technology subsidiary iOBED’s plant in Paju, Gyeonggi Province. The solar plant will begin operation in the first half of 2023, an
Dec. 26, 2022
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'Half-baked' chips act falls short of drastic corporate tax cuts
South Korea last week passed a revision bill being deemed the "Korean chips act," expanding tax benefits for investments in the semiconductors industry. But the bill has done little to appease stakeholders in the industry, who said the increased tax cuts are too little to boost their competitiveness against other countries that have adopted their own chips laws. The National Assembly on Friday passed the revision bill to the Restriction of Special Taxation Act, which raised the corpora
Dec. 25, 2022
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Posco, Energyn succeed in localizing hydrogen tanks
South Korean steelmaker Posco and local gas containment equipment manufacturer Energyn have localized the production of hydrogen storage tanks, according to Posco on Sunday. Hydrogen storage tanks are used to store highly compressed, gaseous hydrogen in electric vehicle charging stations. Currently, US-based global provider of gas containment equipment FIBA Technologies dominates Korea's hydrogen storage tank market. However, Energyn, a Korean producer of various modules for hydrogen chargi
Dec. 25, 2022
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Imported car registrations exceed 3m in S. Korea
Cumulative imported vehicle registrations in South Korea have exceeded 3 million units, as a growing number of customers purchase foreign brands instead of local ones, government data showed Sunday. The number of imported car registrations had reached 3.17 million, or 12 percent of the country's overall car registrations of 25.46 million, as of the end of November, according to the Ministry of Land, Infrastructure and Transport. In 2011, the country's import car registrations stood at
Dec. 25, 2022
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SKC to showcase semiconductor, secondary battery materials at CES
SKC Co., a chemical materials unit of SK Group, said Sunday it will present a range of key products, including a semiconductor glass substrate, battery-grade copper foil and bioplastics, at an upcoming US tech exhibition next week. The glass substrate, considered a "game changer" in semiconductor packaging, will be unveiled to the public for the first time at the Consumer Electronics Show due to take place in Las Vegas from Jan. 5-8, SKC said. SKC is investing up to $600 million to bui
Dec. 25, 2022
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KAI inks W302b deal to supply light armed helicopters
South Korean defense company Korea Aerospace Industries said Friday it signed a 302 billion won ($235 million) deal with Korea’s Defense Acquisition Program Administration to provide light armed helicopters (LAH). Under the contract, KAI will supply the South Korean military with 10 LAH units starting in December 2024. The deal also requires KAI to provide integrated product support, including training for first-time operators and a maintenance float. The KAI LAH is the second domestically
Dec. 23, 2022
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Hankook Tire chief quizzed over alleged unfair intra-affiliate trading
Prosecutors questioned the chairman of Hankook Tire & Technology Co., the nation's leading tiremaker, on Friday over alleged unfair intra-affiliate trading. The Seoul Central District Prosecutors Office brought in Cho Hyun-bum for questioning as part of an investigation into the alleged violation of a law that bans unfair business practices among the group's affiliates. The investigation came after the antitrust regulator decided to impose a fine of over 8 billion won ($6.2 million
Dec. 23, 2022
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SK Group chairman: Chip market's downturn will continue, but not for long
SK Group Chairman Chey Tae-won painted a gloomy outlook for the semiconductors industry, but predicted the downturn will not last long, as chip cycles have tended to grow shorter. “In the long run, semiconductors have always gone up and down, and recently, semiconductor cycles have become very short. In the old days, it took three years, but these days it seems to be shortened to one year,” said Chey, who also serves as the chairman of the Korea Chamber of Commerce and Industry,
Dec. 22, 2022
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[Photo News] Sea heroes
South Korean oil refiner S-Oil on Thursday awarded a total of 90 million won ($71,000) to eight Coast Guard officers for their lifesaving efforts over this year. According to the company, Assistant Inspector Lim Sung-rock was honored with the best hero award for rescuing three fishermen who were isolated in waters off the coast of Ulsan in January. S-Oil has awarded Coast Guard officers each year for their heroics since 2013.
Dec. 22, 2022
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LG Innotek to unveil most advanced optical zoom module for smartphones
LG Innotek said Thursday it will unveil the most advanced ultra-compact optical zoom camera module for smartphones, at the upcoming Consumer Electronics Show in Las Vegas early next month. The electronic parts supplier said it has succeeded in developing an optical telephoto zoom camera module that enables telephoto cameras for mobile devices to zoom four to nine times without causing image degradation. The new camera module is the world's first to apply the zoom lens mechanism of a mirrorl
Dec. 22, 2022
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[KH Explains] Will Korean economy be outpaced by Malaysia, Bangladesh in 2075?
A recent Goldman Sachs report was a bitter reality check for South Korea on its plunging birth rate and aging population -- chronic challenges with little solutions in sight. Earlier this month, the US investment bank released a report titled “The Path to 2075,” warning that the Korean economy could be surpassed by nations with smaller economies such as the Philippines, Malaysia, Bangladesh and more by 2075 due to its rapidly declining and aging working population. The report predict
Dec. 22, 2022
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SsangYong Motor to be renamed KG Mobility: new chairman
SsangYong Motor Co. will operate under a new name, KG Mobility, its new chief has said, in a move signaling a new chapter in the company's decadeslong history marked by long restructuring efforts. Kwak Jea-sun, new chairman of SsangYong Motor, said he will seek approval for the proposed name change at a shareholders' meeting in March next year. "The name, SsangYong Motor, has a fandom, but also has a painful image. SsangYong's new cars will come out in the world as 'KG,&
Dec. 22, 2022
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Cinema admissions remain below half of pre-pandemic level through November
Theater admissions sharply recovered in the first 11 months of the year compared with the deep slump a year ago but remained below half of the pre-pandemic level, industry data showed Thursday. A total of 986.3 million tickets were sold in the January-November period, up 89.3 percent from a year earlier when the film industry was hit hard by the COVID-19 pandemic, according to the data from the Korea Film Council. Still, the figure came to 48.3 percent of the tickets sold for the same period in
Dec. 22, 2022
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Posco outlines vision for battery value chain in North America
ATLANTA – Posco Group has unveiled its ambitious vision to become the most coveted company when it comes to battery materials, a burgeoning industry riding high on the electric push among global carmakers. “The world’s renowned electric vehicle manufacturers have been contacting Posco in recent years,” said Posco America Representative President Do Han-eui during a press conference in Atlanta on Dec. 10. Highlighting the group’s second battery material business va
Dec. 21, 2022