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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K-pop CEOs sidestep key issues at National Assembly audit
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Who is pollster roiling politics with claims of government string-pulling?
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Taking away phones during school hours not a human rights violation: watchdog
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Korea launches antidumping probe into Chinese steel
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Mercedes-Benz works for children’s traffic safety
Mercedes-Benz Korea has continued to raise funds and run programs for social contributions through its Corporate Social Responsibility Committee since 2014. In March, the Korean arm of the German automaker raised 1 billion won to help residents in eastern coastal regions affected by forest fires. In 2020, the company raised 1.8 billion won to help medical staff and those vulnerable to COVID-19. Since its launch eight years ago, Mercedes-Benz CSR Committee has raised a total of 35 billion won
April 27, 2022
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[Herald Interview] Seoul to act as bridge between beauty biz and world: agency
Seoul aims to become a global hub for beauty and cosmetic businesses by providing full support to small- and medium-sized companies eyeing opportunities to enter overseas markets, a business support organization run by the municipal government said. The Seoul Business Agency, run by the Seoul city government, plans to hold a weeklong event this year with a focus on the beauty and cosmetic industries, according to Han Dong-yeol, the organization's chairman of the board. “Especially this
April 26, 2022
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GS E&C’s Elements Europe to build 23-story hotel in London
GS Engineering & Construction’s UK-based modular building pod manufacturing affiliate Elements Europe has clinched a deal to construct a 23-story hotel in London, the Korean builder said Tuesday. As the main contractor and pods and modules supplier, Elements Europe said it will start the construction within this year, targeting for the completion by second half of 2024. The building comprises of two basement floors, five floors for an office area and seven floors for a hotel.
April 26, 2022
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Korean red ginseng relieves stress, fatigue and perhaps long COVID: study
Korean red ginseng improves stress resistance and alleviates fatigue, especially effective in relieving stress among the under-energetic who experience chronic fatigue and have low blood pressure, studies showed on Tuesday, At the 2022 Spring Ginseng Conference held last week by the Korean Society of Ginseng, a series of studies showed that the regular intake of red ginseng products showed an improvement in stress and fatigue management. According to a comparative study by a local family medi
April 26, 2022
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S. Korea to ramp up policy support for electric, hydrogen cars
South Korea plans to invest 397.5 billion won ($318 million) in building charging stations for electric and hydrogen-powered vehicles this year in an effort to foster the next-generation car industry, a senior government official said Tuesday. The government also plans to focus on building the infrastructure and developing technology for self-driving vehicles this year, according to First Vice Finance Minister Lee Eog-weon. "The government will continue to craft policy support for the next-
April 26, 2022
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Australian firm makes $6m settlement with US over N. Korea sanctions
An Australian logistics company has agreed to pay $6.13 million to settle a potential civil liability for apparent violations of US sanctions against North Korea, Iran and Syria, according to the US Treasury Department's website Tuesday. Toll Holdings Limited, a Melbourne-based international freight forwarding firm, made the settlement with the Treasury Department's Office of Foreign Assets Control (OFAC) for nearly 3,000 apparent violations of multiple sanctions programs, the department said in
April 26, 2022
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Fried chicken chain Genesis BBQ opens 6 new US shops
South Korean fried chicken chain Genesis BBQ Co. said Tuesday it has recently opened six new shops in the United States as part of efforts to tap deeper into the American market. Genesis BBQ said it launched three stores in Aurora, Denver and Inglewood in the US state of Colorado. A new shop was also opened in North Quincy, Massachusetts, with two more outlets starting operations in Walnut and Rowland Heights, California. Genesis BBQ now has 150 shops in 19 US states, up from 100 at the end of S
April 26, 2022
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Lobby groups call for Moon's pardon of Samsung chief
Five South Korean lobby groups on Monday called for a presidential pardon to be issued to Samsung Vice Chairman Lee Jae-yong, the de facto leader of the family-owned electronics giant, with businesses saying the leadership void is taking a toll on the group even after Lee was released from prison on parole last year. The plea for Lee’s clemency was submitted to Cheong Wa Dae and the Justice Ministry, in hopes that it would make it onto the list of incumbent President Moon Jae-in’s l
April 25, 2022
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Amid K-pop boom, instant noodle exports break $70m mark in March
Exports of Korean instant noodles, or “ramyeon,” last month broke the $70 million mark for the first time amid continued global popularity of Korean pop culture and the pandemic. March exports of ramyeon grew 20 percent from a year ago to $71.58 million, up 35.8 percent from February, according to the Korea Customs Service and food industry sources. The previous monthly record for ramyeon exports was $66.66 million in December last year. The export volume of ramyeon also surpassed
April 25, 2022
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Asiana Airlines to reopen route to India, offer more to Japan, others
Asiana Airlines Inc., South Korea's second-biggest carrier, said Monday it will reopen the route to India this week as eased virus restrictions unleash pent-up demand. Asiana will offer one flight a week on the Incheon-Delhi route starting Friday after it suspended the route 33 months ago on July 8, 2019, due to the COVID-19 pandemic, the company said in a statement. The company will also expand the number of flights on routes to Sydney, Los Angeles, Osaka, Fukuoka, Hanoi, Ho Chi Minh City and M
April 25, 2022
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Samsung Card net swells 16.2% in Q1
Major South Korean credit card issuer Samsung Card Co. said Monday that its earnings rose more than 16 percent in the first quarter of the year on the back of a recovery in consumer confidence. Consolidated net income stood at 160.8 billion won ($129.2 million) in the January-March period, up 16.2 percent from a year earlier, the company said in a regulatory filing. Operating profit climbed 16.8 percent on-year to 216.4 billion won, with revenue increasing 1.4 percent to 930.8 billion won. Samsu
April 25, 2022
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Pokemon craze extends to Samsung’s Galaxy Z Flip 3
Samsung Electronics said Sunday that it is launching its limited smartphone package, Galaxy Z Flip 3 Pokemon edition on Monday. The package was co-designed with the Pokemon franchise and Nintendo to include a wide range of Pokemon themed accessories such as a Pikachu key ring, a Pokemon palette, a Pokedex design pouch, a Monsterball Pop socket and a selection of five different Pokemon stickers. The electronics giant has worked with 40 different brands to create accessories for its electronic
April 24, 2022
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Korean battery industry on alert as material prices skyrocket
South Korean battery cell makers and the materials industry are seeking supply chain vigilance as prices of key materials such as lithium and nickel continue to skyrocket due to geopolitical uncertainties such as Russia‘s invasion of Ukraine. On Monday, officials of the Korea Battery Industry Association are to fly to the United States to discuss ways to stabilize the battery supply chain for electric vehicles with the Office of the United States Trade Representative and US lawmakers. T
April 24, 2022
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SC Bank offers 2% interest rate for savings by new customers
Standard Chartered Bank Korea said on Friday that it will offer an annual before-tax interest rate of 2 percent on savings for new bank customers subscribing to its My Signature Account. The promotional event will last through May 31. My Signature Account, launched in July 2021, is a checking account that specializes in residual fund management. It has provided customers with high and stable interest rates since its release despite unstable market conditions, said bank officials. Account ho
April 24, 2022
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Posco pours W1tr to ramp up production of eco-friendly electrical steel
Posco said Friday that it has kicked off construction of a new 1 trillion won ($804 million) electrical steel manufacturing plant in Gwangyang, South Jeolla Province, in response to growing demand for the eco-friendly steel in vehicles and home appliances. The steel giant said based on its 40-year expertise in producing electrical steels, the new plant will be producing 300,000 tons of high-efficient, non-oriented electrical steels annually, which are used as core materials in rotating ma
April 22, 2022
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Hyundai Motor Group wins 17 iF design awards this year
Hyundai Motor Group said Friday it has received 17 awards at this year's International Forum (iF) Design Award competition, proving the "excellence" of the South Korean carmaker's models. Hyundai Motor Co., Hyundai's independent Genesis brand and Hyundai's smaller affiliate Kia Corp. obtained 17 awards in the five categories of product, professional concept, interior architecture, communication and user interface, the group said in a statement. In the product segment, Hyundai's Staria
April 22, 2022
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Hyundai Mobis Q1 net income down 13.7% to W521b
Hyundai Mobis Co., South Korea's biggest auto parts maker, said Friday its first-quarter net profit fell 14 percent from a year earlier due to a chip shortage and high manufacturing costs. Net profit for the three months ended in March fell to 520.98 billion won ($419 million) from 603.33 billion won a year earlier, the company said in a statement. "The quarterly net income fell as lack of semiconductors parts drove down vehicle production, higher raw materials prices pushed up automotive
April 22, 2022
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Korean Air chief says Asiana takeover to enhance bilateral partnership with US
The head of South Korea’s largest air carrier said Thursday that the company‘s acquisition of its domestic rival Asiana Airlines will contribute to enhancing the bilateral economic relationship between South Korea and the United States, expressing hope for Washington’s approval of the merger. “We are committed to increasing our activity in the US given the positive environment and we will continue to be a major contributor to the US-Korea economic relationship,” sa
April 21, 2022
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Posco’s eco-friendly steel brand gets international accreditation
Posco said its eco-friendly steel brand received certification from Norwegian classification society Det Norske Veritas. DNV provides testing, certification and technical advisory services to the energy value chain including renewables, oil and gas and energy management. DNV signed a memorandum of understanding to issue a material type approval on Posco’s Greenable brand of steel materials certifying its performance and quality on March 31 at the steelmaker’s headquarters in Seoul.
April 21, 2022
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[Newsmaker] YouTube threatens to cut down investments in Korea over ‘network usage fee’ bill
For the first time, YouTube has openly expressed concerns over the South Korean parliament’s push for global content providers to foot the bill for creating excessive network traffic. Gautam Anand, Vice President and Managing Director at Google’s YouTube Asia Pacific, wrote on Wednesday on the official YouTube Korea blog that if the revisions are enacted, it could “undermine YouTube’s opportunity to make continuous investments for Korean creators to be successful.&rdquo
April 21, 2022