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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[Photo News] CEO becomes Santa
LG Uplus Chief Executive Officer Hwang Hyun-sik, dressed as Santa Claus, delivers a gift to a boy at a Christmas party at an orphanage in Yongsan, central Seoul, Monday afternoon. As part of the telecom carrier's social contribution program that started in 2017, company executives visit welfare facilities every year to donate goods and spend time with children there.
Dec. 13, 2022
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[Newsmaker] JTBC’s ‘Reborn Rich’ intrigues with enigmatic chaebol stories
The latest JTBC TV series “Reborn Rich” is a hit in South Korea. The drama's popular “reincarnation” fantasy plot is mixed with real-life stories of chaebol, a subject of both admiration and dislike in South Korea. Three weeks after the first episode aired on Nov. 18, the latest episode saw its viewership rating hit the 20 percent mark over the weekend, the only TV drama to have breached that level this year in Korea. It is also ranked high on other popular global streami
Dec. 13, 2022
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[Herald Interview] Going global a matter of survival: Startups minister
After some high-profile success stories like Coupang and Toss, going global is an ultimate goal for South Korean startups -- but many of them are still struggling to tackle decades-old regulatory hurdles and hostile financial investors, even at home. SMEs and Startups Minister Lee Young, who took office in May upon the inauguration of the Yoon Suk-yeol administration, vows to create a more investment-friendly startup ecosystem, saying getting funding should be the starting point of their overs
Dec. 13, 2022
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Samsung sends limited Galaxy Z Flip 4 to iPhone user Son Heung-min
Samsung has gifted the limited Galaxy Z Flip 4 Maison Margiela edition to Son Heung-min, the captain of the South Korean soccer team, a publicly known iPhone user. Son shared photos of the gifted phone on his Instagram story, last Friday, with a thank you message written over the photo, also tagging the official Samsung handle. The Z Flip 4 gifted to Son is a limited edition made in collaboration with the French designer brand Maison Margiela. This model is priced at 2.25 million won ($1,956), 7
Dec. 13, 2022
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Big shot bureaucrat named to lead NongHyup Financial Group
After NongHyup Financial Group announced on Monday it selected Lee Suk-joon, 63, as the new chairman, the news made headlines as Lee is the first former high-ranking official to become a financial group’s head under the Yoon Suk-yeol administration. According to the financial group, it held meetings on Monday with the board and shareholders and approved sole candidate Lee as the new chairman. He will start a two-year term on Jan. 1. Born in 1959 in the nation’s second-largest city,
Dec. 13, 2022
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GI Cell inks research agreement with Optieum Biotechnologies
GI Cell, the cell therapy affiliate of South Korean pharmaceutical company GI Innovation, said Tuesday it has signed a research agreement with Japanese bio company Optieum Biotechnologies to study hematological tumors. Hematological tumors refer to tumors that begin in the cells of the immune system or bone marrow. According to the agreement, the Japanese bio company will provide its South Korean counterpart with single-chain variable fragment (ScFv) antibodies that target hematological tumors.
Dec. 13, 2022
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Plane ticket sales more than triple in November: Interpark
South Korean e-commerce company Interpark Corp. said Tuesday its sales of plane tickets more than tripled in November from a year earlier on the back of pent-up demand for travel. Interpark said sales of plane tickets booked on its website amounted to 121.2 billion won ($92.8 million) in November, up 203 percent on-year. The figure is more than 15 percent higher compared with November 2019, the company added. Interpark attributed such results to seasonal factors and pent-up demand as Japan resum
Dec. 13, 2022
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Time spent on KakaoTalk messenger back to pre-service disruption level: data
The amount of time Korean people spent on the country's most popular mobile messenger KakaoTalk was restored to the normal level two months after it suffered extensive service disruptions stemming from a fire at a data center, industry data showed Tuesday. Users spent an average of 32.18 minutes using the KakaoTalk app per day as of Friday last week, compared with 33.3 minutes tallied a year ago, according to the data from Mobile Index. The time dropped to 18.2 minutes on Oct. 15 when a fir
Dec. 13, 2022
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S. Korea predicted to log record trade deficit this year
SEJONG-- South Korea is widely expected to post a record trade deficit this year due to soaring international energy prices amid a slowdown in exports, sources said Tuesday. Asia's fourth-largest economy had a trade deficit of $47.46 billion as of Saturday this year, the largest-ever yearly red ink, according to the Korea Customs Service. The figure is nearly 2.3 times the previous all-time high of $20.62 billion recorded in 1996. It is also well above forecasts made by major economic thi
Dec. 13, 2022
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Regulator looks into possibility of Apple Pay violating privacy law
South Korea's financial regulator is reviewing the possibility of Apple Pay’s payment process violating a law to protect personal credit information, ahead of its launch in Korea. This review came after the Financial Supervisory Service official said it has completed a review of Apple Pay’s terms and conditions last week. When a purchase occurs in local stores using Apple Pay, the American tech company plans to adopt a payment processing method that approves the purchase via the
Dec. 12, 2022
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Scarcity of cold medicines looms in S. Korea following shortage in China
South Korea may experience trouble in importing raw materials for cold medicines in the near future due to a cold medicine shortage in China, according to industry insiders Tuesday. China, South Korea’s main importer of raw materials for cold medicine, is currently experiencing a dearth of cold medicines with people bulk-buying them following the country's relaxing of quarantine policies. The Ministry of Food and Drug Safety recently cautioned South Korean pharmaceutical companies reg
Dec. 12, 2022
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KIDP aims to nurture social enterprises
The Korea Institute of Design Promotion held a demo day event last week to allow social enterprises to share their success stories and have opportunities to get funding from investors. The KIDP, affiliated with the Ministry of Trade, Industry and Energy, has been carrying out a project, called "Social Enterprise Design Assistance Program," since 2019, with aims to nurture social enterprises in the design sector. The institution has been providing participating companies with consultati
Dec. 12, 2022
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Auto exports hit record high in Nov. on popularity of eco-friendly cars
South Korea's car exports reached an all-time high in November on strong demand for eco-friendly cars and stable supply of automotive semiconductors, data showed Monday. The value of outbound shipments of automobiles came to $5.4 billion last month, up 31 percent on-year to set the largest monthly record, according to the data from the Ministry of Trade, Industry and Energy. In terms of volume, a total of 219,489 vehicles were sold overseas last month, up 25 percent from the previous year a
Dec. 12, 2022
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Shinsegae International acquires exclusive rights to Laura Mercier in Korea
Fashion and cosmetics retailer Shinsegae International Inc. said Monday it has acquired the exclusive domestic license from French cosmetics brand Laura Mercier, as it seeks to expand its imported cosmetics business. Laura Mercier, founded in 1996 by a French makeup artist of the same name, is sold in some 40 countries globally. Asia is one of Laura Mercier's key markets, accounting for 20 percent of the brand's sales, Shinsegae International said. The local rights to the brand were pr
Dec. 12, 2022
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Exports down 20.8% during first 10 days of Dec.
South Korea's exports slipped 20.8 percent on-year in the first 10 days of December, data showed Monday, due mainly to weak shipments of chips and mobile devices. The country's outbound shipments stood at $15.4 billion in the Dec. 1-10 period, compared with $19.4 billion a year earlier, according to the data from the Korea Customs Service. Imports also went down 7.3 percent on-year to $20.3 billion during the cited period, resulting in a trade deficit of $4.9 billion. By sector, outbou
Dec. 12, 2022
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[Photo News] LG's charitable giving
LG Group said Sunday it has donated 12 billion won ($9.2 million) to the Community Chest of Korea as part of its year-end charitable giving. LG Corp. President Ha Beom-jong (center left) and Cho Heung-sik (center right), chairman of the Community Chest of Korea, pose for a photo during the ceremony held at the charity’s Seoul office Friday.
Dec. 11, 2022
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Hana looks to nurture future CEOs
Hana Financial Group said Sunday it has provided support totaling 150 million won ($115,000) for 18 startup projects launched by college students. The program, Hana Social Venture University, is part of the group’s outreach that aims to support young students to find jobs or launch their own businesses. Since July, 292 potential startups consisting of 550 university students from 10 different schools have taken part in the program, which offers eight weeks of training, one-on-one consultin
Dec. 11, 2022
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Korea’s patent chief named among most influential IP experts
South Korea’s intellectual property agency chief has been chosen as one of the 50 most influential people from the intellectual property industry this year by UK magazine Managing IP. Korean Intellectual Property Office Commissioner Lee Insil was named on the list released Tuesday, which also included US President Joe Biden and World Trade Organization Director General Ngozi Okonjo-Iweala. Lee was the only Korean IP expert to win the feat this year. The IP chief has been recognized for her
Dec. 11, 2022
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Will Apple Pay contend in land of Samsung Pay?
Apple Pay’s long-awaited South Korean debut seems imminent, even as local partner Hyundai Card’s lips appear tightly sealed. On Friday, a photo went viral on Asamo, a Naver blog for Apple products users. It showed a kiosk machine at Kimganae, a local gimbap chain, with a sign that read “Payment with Apple Pay.” Many blog readers did not hide their excitement. “Finally, Apple Pay in Korea,” a user commented on the post. “If it works in Kimganae, I gues
Dec. 11, 2022
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24 Korean firms named to Dow Jones’ sustainability index
A total of 24 Korean companies have been added to the Dow Jones Sustainability World Index (DJSI World) this year, the Korea Productivity Center said Sunday. The selected domestic companies include SK Telecom, LG Electronics, Kia, Hyundai Engineering & Construction, S-Oil, Shinhan Financial Group, KB Financial Group and Samsung SDI, according to the public institution. The DJSI World is part of a larger family of Dow Jones Sustainability Indices (DJSI) launched in 1999 as the first global sustai
Dec. 11, 2022