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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[Herald Interview] World's first NFT film and art festival to start in Newport Beach
A South Korean movie director and the mayor of Newport Beach will jointly host the world’s first non-fungible token film and art festival in Newport Beach -- a coastal mecca in California just an hour away from Hollywood. “I thought of hosting the Beach Cities NFT Film & Art festival because of the currently centralized and inefficient way to make movies,” Kim Jeong-jung, a film director and the festival's organizer, said during an interview with The Korea Herald. “Cu
Oct. 26, 2022
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Ginseng good for treating memory and muscle loss: experts
The Korean Society of Ginseng kicked off its 13th International Ginseng Symposium on Tuesday in Seoul, bringing together experts from around the world who study the health effects of ginseng. This year’s event was held under the theme “Ginseng, a phytoceutical for health.” It runs through Friday. The event comprised 13 themed sessions, during which hundreds of scholars gave both oral and poster presentations on their studies and findings. The event ends on the third day with a
Oct. 26, 2022
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OECD recommends Samsung Heavy ensure workplace safety over 2017 deadly crane accident
The Korean branch of the Organization for Economic Cooperation and Development called on Samsung Heavy Industries Co. on Wednesday to fulfill due corporate responsibility to better ensure worksite safety following a deadly crane accident in 2017. In May 2017, two cranes collided at the shipbuilder's shipyard in the southeastern port city of Geoje, killing six and injuring 25 others. Civic groups filed a complaint with the OECD's Korean National Contact Point in 2019 against Samsung Hea
Oct. 26, 2022
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SK hynix posts sharp drop in Q3 profit, cuts investment by half next year amid chip downturn
SK hynix Inc. reported its third-quarter earnings Wednesday, falling short of analysts' expectations on the top and bottom lines, amid a cyclical downturn of the global semiconductor industry. The chipmaker's third-quarter net income was 1.1 trillion won ($769.4 million), down 66.7 percent from a year earlier, according to a regulatory filing. Operating profit for the three months ending in September came to 1.65 trillion won, compared with 4.17 trillion won a year ago. Sales fell 7 pe
Oct. 26, 2022
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Hyundai holds groundbreaking ceremony for US EV plant
South Korea's Hyundai Motor Group said Wednesday it has held a groundbreaking ceremony for its dedicated electric vehicle plant in the United States as it seeks to make a presence in the North American EV market. Hyundai Motor Group's Chairman Euisun Chung attended the ceremony held in Bryan County, Georgia where the plant named Hyundai Motor Group Metaplant America will be built, the company said in a statement. Chung said Hyundai and the state of Georgia will make HMGMA into a "
Oct. 26, 2022
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Lawmaker claims Netflix Korea may have been evading tax
Netflix Korea, a Korean subsidiary of the global streaming platform Netflix, saw over 1.2 trillion won ($836 million) in sales for last three years but paid only 0.5 percent of its revenue in tax, a ruling party lawmaker said on Tuesday, raising suspicion that the US company may have been evading local taxes. According to an audit report of Netflix Korea released by Rep. Kim Seung-su of the People Power Party, from 2019 to 2021, Netflix Korea gained 1.23 trillion won and transferred 959.1 billio
Oct. 25, 2022
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Posco Holdings’ Q3 operating profit plunges 71% over typhoon damage, dropped steel price
Posco Holdings said Monday that its third quarter operating profit plunged 71 percent to 920 billion won ($363.9 million), largely due to operation suspension and damages from typhoon that hit the company’s steel plant in Pohang, North Gyeongsang Province, last month, as well as the continuously falling global price of steel. The holding company of the steelmaker Posco said in its regulatory filing that its third quarter net profit dropped sharply to 592 billion won, a 77.2 percent fall on
Oct. 24, 2022
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[Contribution] A new order for transforming our shared oceans
For a long time, the ocean functioned as a set of passageways for ships and a space to catch fish. However, today’s ocean offers us much more. Some may enjoy the sea as a leisure venue for surfing as they ride across the cool waves, and others may think of it as a place with a marine science base that continues to respond to climate change. The sea also serves as a repository for renewable energy, including tidal, wave and wind power. Ninety-nine percent of the world’s internet traff
Oct. 24, 2022
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Chip firms invested 10 times more in China than US: lawmaker
SEJONG -- South Korea’s chipmakers are likely to suffer losses from US sanctions against the Chinese semiconductor industry, as Korea has invested far more in China than the US, an opposition lawmaker said Monday. According to data handed over to Rep. Kim Hoi-jae of the Democratic Party of Korea by the Ministry of Trade, Industry and Energy, Samsung Electronics invested $3.8 billion in the US market between 1997 and 2020. This was equal to just 22.2 percent of the chipmaker’s inves
Oct. 24, 2022
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Unionists at HD Hyundai's shipyards begin strike vote
ULSAN -- Unionized workers at HD Hyundai's three shipyard units kicked off a joint strike vote Monday amid little progress in their collective negotiations. Unionists at the three shipbuilders -- Hyundai Heavy Industries Co., Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co. -- are slated to cast votes till Wednesday, according to union officials. It marks the first time that the labor unions of the shipbuilders have held a joint strike vote. The outcome of the vote is due la
Oct. 24, 2022
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Korean Air flight overruns Cebu runway, no injuries reported
Korean Air Lines Co. said Monday its flight KE631 with 173 people on board overran the runway while landing at Cebu International Airport in the Philippines a day earlier but no injuries were reported. Korean Air expressed its "genuine" regret as it always prioritizes safety in all of its operations. "A thorough investigation will be performed together with the local aviation authorities and Korean authorities to determine the cause of this event," Korean Air President Woo Ke
Oct. 24, 2022
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[Photo News] Joint effort
A Bangkok Skytrain is shown on Sunday advertising Samsung Electronics’ newest Galaxy Z Flip4 smartphone on its exterior. Samsung launched a campaign with Google to put full exterior advertisements created by a Thai designer on four of Bangkok’s Skytrains on its busiest line to promote the two companies. The promotion will run until January 2023, according to Samsung.
Oct. 23, 2022
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[Newsmaker] Another worker injured at SPC bread factory
A worker was injured at one of South Korean bakery giant SPC Group’s bread-making factories on Sunday, just two days after its chief extended a public apology in response to a deadly accident in another factory run by the bakery group. A factory worker in his 40s lost a finger when trying to sort out defective products from a conveyer belt at a Shany bread-making factory operated by SPC Group in Seongnam, Gyeonggi Province, at around 6:10 a.m., police said. Two more workers were reportedly
Oct. 23, 2022
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Koreans spend more on hotels, less on camping trips as pandemic wanes
South Korean accommodation sales in the third quarter rose 142.5 percent compared to the same period in 2020 when COVID-19 pandemic was at its peak, according data provided Sunday by hospitality tech firm Onda. The results revealed lodging firms' sales have been on a constant rise since the pandemic, with third-quarter sales this year increasing by 75 percent on-year, and 54.4 percent on-quarter. Among business types, hotels and resorts showed the highest increase rate. Hotels showed a 200.
Oct. 23, 2022
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Miracell announces psoriasis case cured with stem cell therapy
South Korean stem cell research company Miracell said Friday it had published the clinical trial results of a new regenerative skin stem cell therapy at a recent conference hosted by the IMCAS held in Bangkok. The clinical trial was conducted on a patient with psoriasis, a skin disease that is generally treated with steroids, but has a tendency to recur over time. The patent was found to have completed recovered after receiving intravenous injections with bone marrow stem cells and cells extract
Oct. 21, 2022
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Korean Air named world's 9th best air carrier by Skytrax
Korean Air, the country’s largest air carrier, said Friday it had been named the world’s ninth best air carrier by UK-based airline and airport consultancy Skytrax. The company climbed 13 slots this year to enter the world’s top 10, from 22nd last year. This year’s World’s Best Airline award went to Qatar Airways, followed by Singapore Airlines and Emirates in the second and third, respectively. Skytrax evaluates 390 full-service and 180 budget carriers each year
Oct. 21, 2022
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GS Inima recognized at 2022 IDA World Congress
GS Engineering and Construction subsidiary GS Inima said Thursday it received the Best Private Company Global award on Sunday at the 2022 International Desalination Association World Congress, held in Sydney, Australia. The IDA is a nongovernmental organization that promotes desalination and water recycling. It hosts the IDA World Congress biannually to recognize outstanding companies in the water industry. This year’s award for the best global private company was given to GS Inima for its
Oct. 20, 2022
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GI Innovation's skin cancer drug gets US orphan drug designation
Local drug developer GI Innovation said Thursday its Merkel cell cancer drug GI-101, used to treat a rare type of skin cancer, has received orphan drug designation from the United States Food and Drug Administration. The designation is given to drugs that treat rare diseases that affect less than 100,000 people. The status gives tax cuts during clinical trials, and waives certain restrictions and fees. It also allows market monopolization for seven years after the drug is launched. Merkel cell c
Oct. 20, 2022
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Top US envoy notes 'full commitment' to economic ties with S. Korea amid IRA concerns
The United States remains "fully committed" to enhancing the economic partnership with South Korea and open to talks as close allies, the top US envoy to Seoul said Thursday, amid mounting concerns over the new US law on electric vehicles (EVs) that Korea has called discriminatory. The South Korean government and industries have raised serious concerns over the US Inflation Reduction Act (IRA), which calls for giving tax credits to EV buyers only if the cars were assembled in North Ame
Oct. 20, 2022
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LG Energy Solution signs battery material supply deal with Australian producer
South Korean battery maker LG Energy Solution Ltd. (LGES) said Thursday it has signed a non-binding supply agreement with an Australian partner for a key mineral used in lithium-ion batteries. Under the memorandum of understanding with Syrah Resources Ltd., the Australian company will provide 2,000 tons of natural graphite anode material to LGES, starting in 2025, and gradually expand the supply over the years, the Seoul-based company said in a release. The two companies plan to sign the binding
Oct. 20, 2022