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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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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Conscripting women to lead to 'more babies,' claims military think tank
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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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Forest Ministry strives for ecological restoration in DMZ
The Korea Forest Service said on Sunday it would establish its third comprehensive forest management plan in a bid to ramp up its attempts to advance the ecology in the Demilitarized Zone that divides South and North Korea. The five-year plan, set to be enacted in January, aims to enhance the biodiversity within the forest and expand the role of the DMZ as a carbon sink. Carbon sinks are areas that store carbon-containing chemical compounds for an indefinite period and remove carbon dioxide from
Dec. 11, 2022
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Over half of EU citizens have positive view of S. Korea: study
More than half of European Union citizens hold a positive attitude toward South Korea, according to a study presented by Han Jeong-hun, a professor of Korean politics at Seoul National University Wednesday. According to the study, 55.3 percent of EU citizens said they had a positive view of South Korea, while another 18 percent said they had no opinion. Meanwhile, 26.8 percent said they had a negative view. However, when asked about how interested they were in Korea, only 38.6 percent responded
Dec. 9, 2022
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Hyundai Motor and SK On to invest $4b for EV battery plant in Georgia
South Korea’s leading carmaker Hyundai Motor Group and SK Group’s battery-making arm SK On are set to invest $4 billion to build a joint battery production plant in Georgia, US state officials said Friday. Construction is expected to be completed in 2025. The two companies had signed a business agreement late November on building a joint facility in Bartow County, about 100 kilometers northwest of Atlanta. The batteries produced at the plant will power Hyundai Group’s electric
Dec. 9, 2022
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Hyundai Steel to develop anti-flood door for manufacturing facilities
Hyundai Steel on Thursday said the company has forged a new alliance to develop anti-flood measures that will protect its manufacturing facilities. On Wednesday, representatives from Hyundai Steel, Hyundai Engineering, Haejeon Industry and the Korean Society of Steel Construction signed a memorandum of understanding, according to the steelmaker. Choi Ju-tae and Park Chan-woo, senior managing directors at Hyundai Steel and Hyundai Engineering, joined the signing ceremony held in Hyundai Steel
Dec. 8, 2022
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Korea vows to ease regulatory hurdles for foreign firms
The South Korean government pledged to make pan-governmental efforts to lift some of the regulations on businesses as part of its drive to draw more foreign-invested companies, the Trade Ministry said Thursday. According to the Ministry of Trade, Industry, and Energy, foreign investments play a major role in the Korean economy. Korea received $21.52 billion worth of foreign direct investment commitments from January to September this year, up 18.2 percent from the same period of the year before
Dec. 8, 2022
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Citibank named best international bank in Korea
Citibank Korea has been honored with the Best International Bank in Korea for 2022 award by Asiamoney, a monthly financial magazine published in Hong Kong. Asiamoney said it selected Citibank Korea for the award as the bank has been “a trusted financial partner to corporate clients, offering innovative and comprehensive solutions with Citi’s global expertise and network despite the significant challenges of the global economy.” “Thanks to the passion and devotion of all o
Dec. 8, 2022
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[Newsmaker] Wemix delisting sends shockwaves through crypto market
A Seoul court’s denial of an injunction against the delisting of Wemade's cryptocurrency wemix on Wednesday sent shock waves through the local virtual asset market. During this delisting process, wemix's market capitalization plunged by more than 380 billion won ($287.52 million). Wemix tokens were removed from the four crypto exchange platforms -- Bithumb, Upbit, Coinone and Korbit -- on Thursday at 3 p.m. The court's ruling came as Wemade filed a petition for a preliminary
Dec. 8, 2022
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SK hynix develops world’s fastest server DRAM
South Korean chipmaker SK hynix said Thursday it has developed the world's fastest server memory module that has greatly improved the operation speed of existing module chips in the market. The new product, DDR5 Multiplexer Combined Ranks Dual In-line Memory Module, boasts a data transfer rate of a minimum 8 gigabits per second, almost 80 percent faster than the 4.8 gigabits of the current DDR5 chips. Developed in collaboration with global chip giants Intel and Renesas, SK hynix said their
Dec. 8, 2022
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Starbucks customers in Korea prefer iced drinks even in winter
Seven out of 10 Starbucks users in South Korea ordered iced drinks this year, the coffee chain said Thursday, with their craving for iced coffee and tea showing little sign of abating despite cold wave alerts more recently. According to a big data analysis by Starbucks Korea, purchases of iced drinks made up 76 percent of all Starbucks sales this year, a 12 percentage point growth from last year’s 64 percent. Even during the winter season between November 2021 and February 2022, the portio
Dec. 8, 2022
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Coway launches choir of blind singers
South Korean home appliance maker Coway said Thursday it held an inauguration ceremony on Wednesday to kick off a choir group made up of blind singers at its headquarters in Seoul. Coway said the choir group project was part of its effort to promote employment for the disabled. It comes after the home appliance company signed an agreement with the Korea Employment Agency for Persons with Disabilities in April to create sustainable jobs for the disabled. During the inauguration ceremony, Coway Vi
Dec. 8, 2022
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Workforce of tour agencies nearly halves over 3 years on pandemic
The workforce of major South Korean travel agencies has nearly halved over the past three years due to the coronavirus pandemic, with the number of tour firms also plummeting, industry data showed Thursday. The headcount of industry leader Hana Tour came to 1,204 as of the end of September this year, down 52.3 percent from three years earlier, according to the data from the Financial Supervisory Service. Smaller industry players were also forced to furlough their employees or cut jobs in the w
Dec. 8, 2022
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FSS inspects Payco’s signature key leakage case
South Korea’s top financial watchdog on Tuesday launched an on-site inspection of NHN’s mobile payment service Payco after news that its signature key was leaked broke the day before. This key is a tool that app developers use when registering and distributing their apps on app stores. It certifies that an app is developed by a certified company—in this case, Payco. Apps that used this signature key are considered safe and not detected as malicious by security programs. Back
Dec. 7, 2022
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US ambassador visits Coupang fulfillment center in Daegu
Coupang, the South Korean e-commerce giant, on Wednesday showcased the investments and innovations it made over the past decade at its Daegu fulfillment center, one of Asia's largest. The event was attended by US Ambassador Philip Goldberg and Korean government officials, including the deputy mayor of Daegu Metropolitan City and officials from the Science and ICT Ministry. Kang Han-seung, the representative director of Coupang, and its Chief Administrative Officer Harold Rogers also joined
Dec. 7, 2022
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Vietnam’s industry minister urges resource investment from S. Korea
Nguyen Hong Dien, Vietnam’s minister of industry and trade, on Tuesday urged South Korea to invest in clean energy and mineral resource development, in a step toward strengthening the two countries’ bilateral ties. “In a few weeks, Vietnamese government will approve the country’s long-term eight master plans centering on renewable energy. We hope South Korean companies invest in mineral resource development here, that is essential to the energy industry,” the mini
Dec. 7, 2022
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SK chief stresses ties with Japan to tackle geopolitical challenges
South Korea, the United States and Japan should work closely together to address geopolitical challenges pressing Northeast Asia and beyond, SK Group Chairman Chey Tae-won said at a forum. Chey made the remarks at the 2022 Trans-Pacific Dialogue in the US, an annual gathering hosted by the Chey Institute for Advanced Studies, an SK-affiliated think tank named after the chairman's father, SK Group founder Chey Jong-hyun. The three-day forum, which kicked off Monday, was attended by former an
Dec. 7, 2022
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Philippines seeks cooperation with S. Korea on nuclear power plant project
The Philippines on Wednesday renewed its calls for cooperation with South Korea regarding its push to resume the long-stalled project to build a nuclear power plant, Seoul's industry ministry said. Mark O. Cojuangco, chief of the Southeast Asian nation's special commission on nuclear energy, made the request during a meeting with senior South Korean industry official Cheon Young-ghil in Seoul, according to the Ministry of Trade, Industry and Energy. The Philippines launched the project
Dec. 7, 2022
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Apple unveils new pricing policy for Korean app developers
Apple Inc. said Wednesday it will introduce the new pricing policy, including changes in tax calculation for South Korean app developers, from next year in a move to comply with the local antitrust regulator's probe. "Apple today announced the most comprehensive upgrade to pricing capabilities since the App Store first launched, including changes to tax calculation that will allow Apple to reflect taxes in the commission calculation to increase developer proceeds in South Korea and six
Dec. 7, 2022
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Court puts end to SK chief's high-profile divorce
A Seoul court on Tuesday ordered SK Group Chairman Chey Tae-won to pay 66.5 billion won ($50 million) in property division to Roh So-young, ending the couple’s marriage of 34 years. Chey will also have to pay 100 million won in alimony, the court added. The Seoul Family Court announced its ruling on the divorce suit that was filed by Roh in December 2019. The court dismissed a separate divorce suit filed by Chey, saying he is the person who is responsible for the divorce. The couple’
Dec. 6, 2022
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Samsung chief inspects Barakah nuclear plant site in UAE
Samsung Electronics said Tuesday Chairman Lee Jae-yong visited a Samsung C&T construction site of a new nuclear power plant in the United Arab Emirates and encouraged workers there. The construction unit of Samsung Group is building two nuclear reactors at the Barakah nuclear power plant. During his visit, Lee held a meeting with local employees, most of them in their 20s and 30s. “The Middle East, which is currently pushing for a ‘great transformation’ to find a new growth eng
Dec. 6, 2022
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Korea, Vietnam pledge economic alliance
More than 300 business leaders from Korea and Vietnam gathered to attend the Korea-Vietnam Business Forum, held in line with Vietnamese President Nguyen Xuan Phuc’s state visit to Korea, pledging to expand economic ties for bilateral growth. The Korea-Vietnam Business Forum, hosted by the Korea Chamber of Commerce and Industry, was held at Lotte Hotel Seoul on Tuesday to commemorate the 30th anniversary of bilateral diplomatic ties. The Vietnamese president and Korean Finance Minister Choo
Dec. 6, 2022