Most Popular
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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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S. Korea, Singapore seal supply chain agreement
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Netflix, streaming platforms come under fire for loose ratings
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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20 minors registered as CEOs making over 100 million won
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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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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Hyundai set to sell over 3m in cumulative eco-friendly car sales in H1
Hyundai Motor Group is expected to achieve 3 million units in accumulated environment-friendly vehicle sales in the first half, driven by new models, industry sources said Sunday. The South Korean automotive group, which has Hyundai Motor Co. and Kia Corp. under its wing, sold a cumulative 2.53 million eco-friendly vehicles as of November last year, according to industry people. From January to November, the two carmakers sold a combined 656,479 eco-friendly models in global markets, higher th
Jan. 9, 2022
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GS launches its venture capital for investment in promising startups
South Korean conglomerate GS Holdings said Sunday that it has set up a corporate venture capital (CVC) firm to invest in promising startups. GS Ventures plans to invest in local startups that focus on the new growth industries, such as bio, climate change, resource recycling, retail and renewable energy, GS Holdings said. Heo Jun-nyeong, vice president at GS Holdings who is a merger and acquisition expert, was named the first chief executive officer of GS Ventures. GS Holdings holds a 100 per
Jan. 9, 2022
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[Market Eye] Samsung-Hyundai auto chip alliance? It's more complicated than you think
South Korea’s largest automaker Hyundai Motor, like other major carmakers around the world, suffered big from global semiconductor shortages last year, despite wide growing demand for new vehicles. Deliveries of preordered vehicles have been delayed for months, not because of Korea‘s notorious labor strikes or price hikes in materials, but because of the tiny missing auto chips, which are essential for their digitized auto control system. Not just sharing common roots as Kor
Jan. 7, 2022
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Chaebol groups sell shares in subsidiaries over strengthened intercompany trade measures
Descendants of South Korea's chaebol founders have recently sold their stakes in spin-offs in an apparent move to avoid the antitrust watchdog’s tougher intra-group trade scrutiny based on the revised fair trade act. The Korea Fair Trade Committee’s revised fair trade act came into effect on Dec. 30, expanding the list of target companies in order to prevent chaebol family owners from fattening their wealth through affiliates in family business. Previously, the regulation ta
Jan. 7, 2022
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[From the Scene] CES vs. COVID vs. My safety
LAS VEGAS – With just one more day to go, the Consumer Electronics Show 2022, though requiring attendees to be fully vaccinated, is a potential incubator of next variant of you-know-what thanks to people without masks spread out all over town. An unpleasant experience began right after touching down at McCarran Airport on Sunday. Paul, a Lyft driver who gave a brief tour of the Strip throughout the ride to the Westgate Hotel, wasn‘t wearing his mask. Vaccinated or not, Lyft manda
Jan. 7, 2022
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SPC Group acquires Shake Shack operation right in Malaysia
SPC Group said Friday that it has acquired the operation rights of US burger chain Shake Shack in Malaysia and will open the first store there in 2023. The Korean confectionery conglomerate owns the operating right of Shake Shack in Korea and Singapore. It has opened 20 stores in Korea and eight in Singapore since 2016 and 2019, respectively. Michael Kark, chief global licensing officer of Shake Shack, said that the US burger chain and SPC will have more than 45 Shake Shacks across Korea
Jan. 7, 2022
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Posco breaks ground for galvanized steel plant in China
POSCO, the world's fifth-largest steelmaker by output, said Friday that it has started the construction of a plant in China that will produce galvanized steel sheets to be used in making cars. The plant in Tangshan in northern China's Hebei Province, whose construction is to be completed by 2023, will have a production capacity of 900,000 tons, according to POSCO. In June last year, POSCO signed a deal with HBIS Group, China's second-biggest steelmaker, to set up a $600 million joint venture i
Jan. 7, 2022
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[CES 2022] At CES, Hyundai Motor presents robots, not cars
LAS VEGAS -- After unveiling its new vision of expanding a human reach to robotics and metaverse, Hyundai Motor opened its CES booth filled with robots, not cars, to present the future of mobility. The exhibition taking place at the tech show featured three Spots, a quadruped robot, dancing in sync to a BTS song titled “Ioniq: I’m on it.” L7, a micro-mobility concept based on a platform that combines 4 large PnD modules, followed Spot’s lead by demonstrating how it can
Jan. 6, 2022
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[CES 2022] Samsung says open to manufacturing OLED TVs
LAS VEGAS/SEOUL -- Samsung Electronics vice chairman and CEO Han Jong-hee told reporters on Wednesday that the doors for collaboration with panel supplier LG Display is “wide open” for its launch of organic light-emitting diode television sets. At a press conference in Las Vegas, when asked about the rumored partnership with its archrival in TV industry ahead of the world’s largest tech show CES 2022, Han said, “I cannot say because there is nothing confirmed regarding
Jan. 6, 2022
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[CES 2022] Coway introduces smart sleep and air care technology
Coway introduced its latest home appliances at the Consumer Electronics Show 2022 in Las Vegas on Wednesday, highlighting its smart solution-embedded products such as mattresses, water purifiers, air purifiers and bidets. Under theme of “We innovate for your better life,” Coway showcased the adjustable Smart Care Air Mattress which has been applied with its patented technology. According to the company, its mattress can detect the user’s body pressure and sleeping posit
Jan. 6, 2022
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[CES 2022] Hyundai Heavy Industries sets vision to become “future builder”
Hyundai Heavy Industries Group, which has topped the global shipbuilding industry for the past 50 years, will embark a new mission to become a “future builder,” the company’s CEO said at the Consumer Electronics Show 2022 on Wednesday. “Starting from the sea, HHI Group’s technological innovation will change the lives of people in the future,” said Hyundai Heavy Industries Holdings CEO Chung Ki-sun during the group’s debut press conference at CES. Speci
Jan. 6, 2022
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Nexon invests $400m in Avengers directors’ production company
Korean gaming giant Nexon said Thursday it has decided to invest $400 million into US production company Agbo, co-founded by Anthony and Joe Russo, the directors of Marvel’s global megahits. Through the latest investment, the Tokyo-listed Nexon plans to accelerate the global expansion of its existing and new intellectual property in the film and TV sectors, while Agbo looks to further boost its influence in the global entertainment market by strengthening its production power. Valued at
Jan. 6, 2022
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Daewoo Shipbuilding wins W502b LNG ship order
Daewoo Shipbuilding & Marine Engineering Co. said Thursday it has received a 502 billion won ($420 million) liquefied natural gas (LNG) ship order in Greece. Daewoo Shipbuilding will deliver the LNG carriers to an unidentified shipper in Greece by November 2025, the company said in a regulatory filing. The company is the world's third-largest shipbuilder by orders after Hyundai Heavy Industries Group and Samsung Heavy Industries Co. in terms of 2021 orders. Last year, Daewoo Shipbuildi
Jan. 6, 2022
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Celltrion's COVID-19 self-test kit available on Amazon
South Korean biopharmaceutical company Celltrion Inc. said Thursday that its self-diagnostic kit for COVID-19 is available for purchase on global retailer Amazon. Celltrion DiaTrust COVID-19 Ag Home Test, co-developed by local health care business Humasis, received the US Food and Drug Administration's Emergency Use Authorization approval last year. The product is supplied through Amazon after Celltrion directly signed a contract with the world's largest online retailer. Celltrion said Amazon
Jan. 6, 2022
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Hyundai Motor chairman, father sell 10-pct stake in logistics unit to Carlyle
Hyundai Motor Group Chairman Chung Euisun and honorary group chief Chung Mong-koo sold their combined 10 percent stake in Hyundai Glovis to the global private equity firm Carlyle Group, the logistics unit of the group said Wednesday. The junior Chung sold a 3.29 percent stake and his father unloaded a 6.71 percent interest in Hyundai Glovis at 163,000 won (US$136) per share through block trading, the company said in a regulatory filing. The stake sale is valued at around 610 billion won. Th
Jan. 5, 2022
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[CES 2022] Hyundai Motor vows to expand human reach with robots, metaverse
LAS VEGAS -- Laying out the groundwork for its future with robotics technology and the metaverse, the chairman of South Korean carmaker Hyundai Motor Group unveiled a new concept that materializes future mobility even in virtual spaces. Speaking at the Consumer Electronics Show taking place in Las Vegas, Hyundai Motor Chairman Chung Euisun introduced “metamobility” -- referring to an integration of robotics and the metaverse -- as the automaker's new growth engine. The concept is a
Jan. 5, 2022
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[CES 2022] Hyundai Heavy Industries, Palantir to build new big data platform
Hyundai Heavy Industries and US company Palantir Technologies will work on building a new big data platform, the companies said Wednesday. The two firms clinched a partnership in Las Vegas a day before the official kickoff of the CES 2022. The deal is reportedly valued at above $25 million, according to the industry. Their multiyear deal will improve the way Hyundai Heavy’s affiliates operate their businesses in shipbuilding, offshore engineering and energy and industrial machiner
Jan. 5, 2022
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[CES 2022] Hankook Tire unveils airless tire i-Flex
South Korean tire manufacturer Hankook Tire unveiled an airless tire i-Flex at CES 2022, which has been used for Hyundai Motor Group’s latest robotics module Plug & Drive. According to the company, a 10-inch tire is applied with biomimetic design and requires no air inside unlike a traditional tire. Inspired by a cell structure of living body, the tire maker said i-Flex adopted multi-layer interlocking spoke design to bolster the load bearing structure and shock absorption.&nbs
Jan. 5, 2022
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[Herald Interview] Young designers launch brands through Han Sung Motor’s Dream Gream project
Jung Ji-won, a graphic designer at a fashion company, always thought it was a waste to discard countless pieces of leftover fabric every day. Inspired by the piles of discarded cloth samples and fabric pieces, Jung came up with an idea to create a brand that makes hats from recycled fabric, such as Mipan regen that is made from reclaimed waste. “I believe that the MZ generation spend money based on their values. That’s why I thought the brand I created, Crayon Studio, could a
Jan. 5, 2022
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CJ Bioscience eyes global microbiome market leadership
CJ Bioscience, a biotechnology subsidiary of CJ CheilJedang, has been officially launched with its eyes set on becoming a global leader in the microbiome sector, the Korean food giant said Wednesday. The establishment of the biotechnology firm is part of CJ Group Chairman Lee Jay-hyun’s earlier pledge to strengthen the group’s wellness business, one of the four growth engines he had vowed to cultivate for the future. CJ Bioscience on Tuesday held an inauguration ceremony with key
Jan. 5, 2022