Most Popular
-
1
S. Korea, Singapore seal supply chain agreement
-
2
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
3
Korean language teaching expert says demand has outstripped supply
-
4
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
5
Conscripting women to lead to 'more babies,' claims military think tank
-
6
Who is pollster roiling politics with claims of government string-pulling?
-
7
Taking away phones during school hours not a human rights violation: watchdog
-
8
Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
-
9
Korea launches antidumping probe into Chinese steel
-
10
[Grace Kao] Why K-pop lip-syncing doesn’t bother me
-
Hyundai Motor invests in automotive semiconductor startup
Hyundai Motor Group said on Tuesday it has decided to invest in Bos Semiconductors, an automotive semiconductor startup. Bos Semiconductor is a fabless startup which specializes in manufacturing system semiconductors used in automotive software. The startup aims to design high-performance semiconductors that consume low amounts of power. It also aims to manufacture central processing units and high-speed interfaces that are essential for automotive semiconductors. Hyundai Motor’s inv
Aug. 24, 2022
-
Samsung C&T wins W800b solar power plant project in Qatar
Samsung C&T said Wednesday it has inked an 800 billion won engineering, procurement and construction contract with QatarEnergy to build solar power plants with the capacity to generate 875 megawatts of electricity. The project involves building one solar power plant with 417 megawatt capacity in Mesaieed and another one in Ras Laffan with 458 megawatt capacity, which will start generating electricity by the end of 2024. Around 1.6 million solar panels will be installed in these power
Aug. 24, 2022
-
LG Uplus rebrands K-pop platform to Idol Plus with foreign language support
LG Uplus Corp., South Korea's third-largest mobile carrier, said Wednesday it has rebranded its K-pop content platform and has newly enabled official foreign language support for foreign users. The company's U+ Idol Live platform has been renamed as Idol Plus and its menu and subtitles now officially support English, Chinese, Japanese, Thai and Indonesian, in addition to Korean. LG Uplus said it has analyzed overseas customer usage during its beta web service period since November in s
Aug. 24, 2022
-
Regulator OKs KG Group's takeover of SsangYong Motor
SEJONG -- South Korea's antitrust regulator said Wednesday it has approved a deal by chemical-to-steel business group KG Group to buy the debt-ridden SsangYong Motor Co., as the takeover does not hurt market competition. In July, KG asked the Fair Trade Commission (FTC) to review its deal to acquire some 61 percent stake in SsangYong Motor for 950 billion won ($ 708 million). The FTC said it has given the green light to the deal, saying that the acquisition is not likely to hamper competiti
Aug. 24, 2022
-
Hyundai Motor chief visits US amid new tax break law
Hyundai Motor Group said Wednesday its Chairman Chung Euisun is visiting the United States amid growing concerns over a new US law excluding electric vehicles (EVs) built outside the US from tax breaks. The South Korean carmaker didn't provide any details about Chung's US schedule. Chung is expected to meet US government officials and business leaders to ask them to "help improve an unreasonable part" of the recently passed Inflation Reduction Act (IRA), auto industry officia
Aug. 24, 2022
-
Hanwha Aerospace bags $165m order from UK’s Vertical
South Korean aircraft engine manufacturer Hanwha Aerospace established a $165 million supply deal with British air taxi developer Vertical Aerospace last month, according to a regulatory filing released on Tuesday. Under the deal, which follows a development agreement announced in July, Hanwha Aerospace is set to exclusively supply three types of electromechanical actuators to Vertical for its VX4 air taxi from 2025 to 2035. The four-seater VX4 is currently under development for commercializat
Aug. 23, 2022
-
LS Cable & System launches system for remote-control cable management
LS Cable & System will commercialize a remote-control cable management system that detects operational abnormalities, prevents power outages and sends online alerts, said the company on Tuesday. The new system called i-check allows IoT sensors attached to cables to detect malfunctions such as electricity leakages and overheating, to prevent power outages and fires. Users will be able to check the status of the cable in real time on the web and mobile devices, and receive push notificatio
Aug. 23, 2022
-
[Contribution] Delivery unit price indexation system to benefit both small, big companies
Latest issues such as the COVID-19 outbreak and the Russia-Ukraine war have prompted active discussions about the introduction of an interlocking system for cost of goods delivered. The small and medium-sized enterprises have long been calling for the introduction of this system, and the legislation of delivery unit price indexation system is one of the agenda items for the Special Committee on People’s Livelihood and Economic Stability, which was launched in July 2022. Alongside this, the
Aug. 23, 2022
-
Global TV sales slip more than 6% on-year in H1, with Samsung being top seller: data
Global TV sales fell more than 6 percent from a year ago in the first half of this year on slow demand and macroeconomic woes, research showed Tuesday, as Samsung Electronics remained the top player in the TV segment. In global markets, 92.6 million units of TVs were sold, down 6.6 percent from a year earlier. By value, the decrease was sharper at 12.5 percent, according to industry tracker Omdia. Consumer electronics companies have been struggling to combat lackluster demand after two years of
Aug. 23, 2022
-
Korea to review WTO complaint on Biden’s IRA
The South Korean government will review launching a complaint to the World Trade Organization over a new US bill regarding tax credits that immediately scrapped subsidies for electric vehicles made outside the US, South Korean Industry Minister Lee Chang-yang said Monday. Last week, US President Joe Biden signed the $430 billion Inflation Reduction Act, which would allow up to $7,500 of tax credits for “Made in US” EVs only, as part of the scheme to lift the portion of eco-friendly
Aug. 22, 2022
-
On rising rates, Seoul’s housing market seen entering recession
The housing market in Seoul appears to have entered a period of stagnation not only with the prices of apartments -- the major residential type in the city –dropping, but also the number of transactions falling due to increased interest rates on loans, data showed Monday. According to Zigbang, a local property technology firm, the number of apartment units in Seoul that traded at lower prices than before has surpassed that of apartments that traded at higher prices. Separate data from t
Aug. 22, 2022
-
Pulmuone’s tofu sales up 11% in US
Pulmuone’s wholly owned US subsidiary Pulmuone Foods USA said on Monday that sales of its tofu have increased 11 percent this year from last year. The South Korean food giant attributed its sales performance to the construction of its tofu production line at Pulmuone Fullerton plant. The production facility established in November in California contributed to increasing the total production of tofu in the US by 38 percent, according to the company. Pulmuone Foods USA is currently ope
Aug. 22, 2022
-
Posco International supports Busan’s Expo bid in Uzbekistan
Posco International, a trading firm under Posco Group, said Monday that it has sponsored performances of the South Korean opera “Chunhyang-jeon” in Uzbekistan, as part of the company’s effort to support Busan’s World Expo 2030 bid. According to the company, the Korean opera was staged at Bolshoi Theater in Tashkent, Sunday, to mark 30 years of diplomatic ties between South Korea and Uzbekistan. Posco International sponsored the performance in collaboration with Busan Me
Aug. 22, 2022
-
Lotte chief embarks on 1st overseas trip to Vietnam after presidential pardon
Lotte Group Chairman Shin Dong-bin will visit Vietnam next month on his first overseas trip after a presidential pardon granted last week lifted a legal hurdle that had limited his business activities in recent years. According to the group, Shin will attend the groundbreaking ceremony for Lotte E&C’s construction of Eco Smart City complex in Thu Thiem, Ho Chi Minh, on Sept. 2. Some $900 million have been invested into the construction of the 60-story building on a 680,000-squa
Aug. 22, 2022
-
[Herald Interview] Wind of change in workplace culture
A wind of change is blowing in South Korea’s rigid top-down workplace culture as a growing number of local companies, from fledgling startups to traditional manufacturing firms, feel the need to improve the quality of work environments in to attract and retain talent. To name a few changes: simpler decision-making processes, no more forced overtime work until late night or and more openness to outspoken opinions. It’s a trend that Khanzada Temur Khan, director of the people &
Aug. 21, 2022
-
Lotte Chemical makes bid to acquire Iljin Materials
Lotte Chemical has reportedly submitted a tender to acquire a controlling stake in South Korean copper foil manufacturer Iljin Materials on Friday. The Seoul-based petrochemical firm is considered one of the proposed buyers of the 53.3 percent stake in Iljin Materials from President and Chief Executive Officer Huh Jae-myung, which will cost around 3 trillion won ($2.24 billion). Citigroup Global Markets Korea Securities is the deal manager. Copper foil is one of the key components of seconda
Aug. 21, 2022
-
Hyundai Steel bets big on waste recycling in ESG push
Hyundai Steel, the nation’s No. 2 steel maker, said Sunday it is betting big on waste recycling in its renewed push for carbon neutrality. The company has recycled used coffee grounds as part of its social contribution activities. More recently, it signed a memorandum of understanding with the Incheon Yeonsu Rehabilitation Center to accelerate related research. The North Gyeongsang Province Government Public Institute of Health and Environment, the key beneficiary, will carry out a stu
Aug. 21, 2022
-
Posco chief touts battery materials as future growth driver
Posco Group Chairman Choi Jeong-woo recently touted battery materials as a key growth driver during his meeting with investors in Singapore, the steelmaker’s holding group said Sunday. The pledge came as Choi briefed officials from US-based investment giant BlackRock and the Government of Singapore Investment Corporation – a state-run investment agency – of Posco’s performance so far in management and strengthening its financial soundness on Friday, according to Posco H
Aug. 21, 2022
-
Korean chipmakers’ reliance on China jumps 13-fold over 20 years
South Korea’s reliance on China for semiconductor exports jumped nearly 13-fold in the last two decades and Seoul needs to take action to resolve any associated risks, a report said Sunday. Semiconductor exports made up 39.7 percent of Asia’s fourth-largest economy’s total exports to China last year, a surge from 3.2 percent in 2000, said the Korea Chamber of Commerce and Industry, a major business lobby that represents some 300 companies including Samsung Electronics and SK
Aug. 21, 2022
-
Hyosung donates AI care robots to older veterans
Hyosung Group said Friday that it has donated10 AI care robots, called Pibo, to older patriots and veterans, as part of its social contribution activities. Pibo, an AI care robot developed by a South Korean startup, Circulus, offers information such as news and weather while also monitoring the user’s body temperature and heart rate. It also manages medication tracking by setting a specific reminder of a user’s treatment schedule. The robot can monitor a user’s state of
Aug. 19, 2022