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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Ex-president's daughter investigated for drunk driving accident
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Seoulites celebrate coexistence at Wellness Seoul 2024
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S. Korea, Singapore seal supply chain agreement
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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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Hyundai Futurenet co-hosts metaverse conference ‘Coming-M 2021’ with The Korea Herald
The “Coming-M 2021” metaverse conference kicked off Monday, with representatives from around 50 companies from 11 different countries taking part. Hyundai Futurenet announced Friday that it was co-hosting the interactive metaverse conference with The Korea Herald to “make an arena where global corporations, governments, and individuals preparing for the post-pandemic era can share ideas and work together.” The conference will be held for five days from Monday to Fr
Nov. 15, 2021
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AmCham, US senator discuss greater opportunities for businesses in US, Korea
Members of the American Chamber of Commerce in Korea and Georgia Sen. Jon Ossoff discussed measures to increase cooperation between the United States and South Korea in various industries that seek innovation, AmCham said Friday. AmCham’s delegation met with the American senator on Thursday during his weeklong trip to Seoul and conveyed the organization’s mission to promote the growth of US businesses in Korea as well as investment in the US by Korean companies, AmCham said. The
Nov. 15, 2021
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Corporate sector secures 64 million liters of urea solution amid supply crunch
South Korean firms have set out to secure urea or urea solution using their global networks with foreign partners in an effort to help alleviate the domestic shortage of an additive critical for diesel cars. According to figures gathered by The Korea Herald, some 64 million liters of urea solution, or diesel exhaust liquid, has been sourced by the corporate sector. The supply accounts for more than two-thirds of some 82 million liters of urea solution the government said woul
Nov. 14, 2021
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US Trade Representative to visit S.Korea next week
US Trade Representative Katherine Chi Tai will visit Seoul on Thursday, according to government officials on Sunday. It will mark the first time in 10 years for the country’s chief trade negotiator to visit South Korea since Free Trade Agreement talks were held in 2011. It is expected that Tai will discuss a number of economic and trade issues with South Korean counterparts including the semiconductor supply chain and a digital trade agreement. Other topics include incentives for South
Nov. 14, 2021
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Six Korean companies added to Dow Jones Sustainability World Index
Six Korean companies have been added to the Dow Jones Sustainability World Index (DJSI) said a public institution under the Ministry of Industry, Sunday. The six companies are Samsung Biologics, Kakao, SK Telecom, Hyundai Motors, logistics company Hyundai Glovis and car parts maker Hyundai Mobis, the Korea Productivity Center said. The Dow Jones Sustainability World Index is part of a larger family of Dow Jones Sustainability Indices (DJSI) launched in 1999 as the first global sustainabilit
Nov. 14, 2021
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Hyundai Motor chief Chung Euisun reappointed as president of World Archery Asia
Hyundai Motor Group Chairman Chung Euisun was approved as head of World Archery Asia, the biggest group promoting archery in Asia region, for the fifth time, the carmaker announced Sunday. Chung was reappointed as the institution’s president at the group’s general meeting held in Dhaka, Bangladesh, Friday. Of the 28 member countries that attended the event, 26 voted in favor of Chung leading the association for the next four years, the group said. Following the appointment, Ch
Nov. 14, 2021
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CJ Logistics to invest W2.5t by 2023 to foster high-tech business sector
CJ Logistics Corp., the logistics arm of South Korean conglomerate CJ Group, said Sunday that it will invest 2.5 trillion won ($2.12 billion) by 2023 in a project to be reborn as an "innovative technology" firm, especially by strengthening platform-related businesses. The investment is largely aimed at upgrading its e-commerce and delivery operation amid the high popularity of ordering on mobile and online platforms. CJ Logistics said it will expand its fulfillment infrastructure by
Nov. 14, 2021
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[Battery+] Elon Musk wants LFP batteries for Tesla. Here’s why Korean battery trio shouldn’t produce them
Elon Musk strikes again. With every word he posts on Twitter, the market swings like a pendulum. From bitcoin to space, the eccentric leader’s influence has no bounds. This time, the Tesla CEO is shaking up the electric vehicle market by challenging the decades-long paradigm of lithium-ion batteries. Last month, Tesla announced that it would use a cheaper, safer alternative called lithium-iron phosphate, or LFP batteries, in all of its standard-range cars. Taken aback by Tesla&rsqu
Nov. 14, 2021
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Lee Jae-yong's US trip signals his return to Samsung management
After staying under the radar for more than three months since his parole in August, Samsung Electronics Vice Chairman Lee Jae-yong on Sunday revealed himself at an airport in Seoul leaving for an overseas business trip for chips and vaccine, signaling his return to the forefront of management. The Samsung Electronics executive arrived at Seoul Gimpo Business Aviation Center at around 7:45 a.m. on Sunday and hopped on a Korean Air charter flight to Canada after briefly talking to the press.
Nov. 14, 2021
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Samsung to overhaul job ranking system for first time in 5 years
Samsung Electronics will overhaul its job ranking system for the first time in five years, Samsung Electronics said Friday. The move is seen as part of Vice Chairman Lee Jae-yong’s plan to create a new Samsung one year after his father’s death. According to the company, the tech giant posted an internal message saying it would revise its evaluation and promotion system. “The change will be completed within this month and an official announcement will be made,” a comp
Nov. 12, 2021
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Posco to cut emissions by 320,000 tons with carbon capture, utilization tech
South Korean steel giant Posco said Friday that it would test the feasibility of a carbon capture and utilization technology that could potentially eliminate 320,000 tons of carbon emissions from steel production. According to the world’s No. 6 steelmaker, the technology, once fully developed, will be applied to coke ovens installed inside its two steel mills -- one in Pohang, North Gyeongsang Province, and one in Gwangyang, South Jeolla Province. Each of the coke ovens emits 30,000-50,0
Nov. 12, 2021
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Samsung Fire Q3 net surges 42% on decreased loss rate
Samsung Fire & Marine Insurance Co., the non-life insurance arm of Samsung Group, reported a 42.2 percent rise in its third-quarter earnings amid a fall in accident-linked insurance payments amid tightened social distancing rules. Net income came to 278.15 billion won ($235.5 million) during the January-September period, compared with a net profit of 195.56 billion won a year earlier, the company said in a regulatory filing. The improved bottom line is attributable to a fall in loss ratio
Nov. 12, 2021
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Celltrion's COVID-19 antibody treatment wins EU drug agency's recommendation
The European Union's drug agency has recommended the approval of a COVID-19 antibody treatment by Celltrion Inc., paving the way for its sales in the region, the South Korean pharmaceutical giant said Friday. The Committee for Medicinal Products for Human Use (CHMP) under the European Medicines Agency recommended the application of Rekirona in adult patients aged 18 and older. The European Commission, which is authorized to approve medicines in the region, is expected to issue its decision wit
Nov. 12, 2021
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Disney+ lands in S. Korea amid competition in video streaming market
Disney+, the flagship streaming service of US media giant Walt Disney Co., landed in South Korea on Friday, heating up competition in the country's video streaming market. The streaming service is now available on its website or in Apple's App Store for iPhones and Google's Play Store for Android devices. The service distributes various films and TV series from Disney, Pixar, Marvel, Star Wars, National Geographic and Star, showing their original content hits, like "Loki" and "T
Nov. 12, 2021
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SK invests $340m in Crown X, strengthens partnership with Vietnam’s Masan Group
SK Group announced Thursday that it will invest $340 million in Crown X, a consumer retail platform within Vietnam’s Masan Group, in an effort to expand its strategic partnerships in Southeast Asia. SK Group recently bought a 9.5 percent stake in the Vietnamese consumer goods company, in line with its Global Story initiative to discover new market opportunities through direct foreign investment. Crown X is a subsidiary of Masan Group and owns Masan Consumer Holdings, a food and bevera
Nov. 11, 2021
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Seoul stocks down for 2nd day amid inflation woes
South Korean stocks closed lower Thursday, taking a cue from the estimate-beating inflation data in the United States that fanned concerns about faster-than-expected rate hikes. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) retreated 5.25 points, or 0.18 percent, to close at 2,924.92 points. Trading volume was moderate at about 563 billion shares worth some 13.3 trillion won ($11.3 billion), with losers outnumbering gainers 630 to 215. Fore
Nov. 11, 2021
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Daewoo Shipbuilding bags W487b order for 2 LNG carriers
Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Thursday it has signed a 486.7 billion-won ($410.9 million) deal to construct two LNG carriers. DSME will deliver the 174,000-cubic-meter LNG carriers to Maran Gas Maritime Inc. (MGM), a gas shipping unit of Angelicoussis Shipping Group, the largest shipper in Greece, by November 2024, the shipbuilder said. The Greek shipping group has been the largest buyer of DSME, which has placed orders for 112 ships since 1994, the shipbuilding
Nov. 11, 2021
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KT services suffer disruptions in Seoul
KT Corp. said Thursday it has suffered disruptions in its mobile and internet services in western Seoul, less than three weeks after an outage crippled businesses across the country. KT said the services were interrupted for nearly two hours in the Yeongdeungpo and Guro districts due to an accidental cut in the fiber-optic cables at around 10:25 a.m. KT said up to 90 percent of the disrupted services had been recovered as of 1:15 p.m. Last month, KT CEO Ku Hyeon-mo apologized for the abrupt d
Nov. 11, 2021
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Hanwha Defense wins ISO 37301 certification for compliance management
Hanwha Defense said Thursday it had become the first South Korean defense company to obtain certification for ISO 37301, a compliance management standard of the International Organization for Standardization. The ISO 37301, introduced by the international rule-setting body in April, examines whether a firm‘s compliance and risk management systems meet international standards. The ISO 37301 combines ISO standards with international agencies’ guidelines, including those from the Int
Nov. 11, 2021
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Hanwha Q Cells to supply power to 154,000 Texas residents
Hanwha Q Cells said Thursday it will break ground on its first energy storage systems project in Texas in January. According to the solar business unit of Hanwha Solutions, the 380-megawatt-hour project, once completed in December next year, will be able to store enough electricity for 154,000 Texas residents to use for one day. Energy storage systems are giant batteries designed to compensate for the intermittency of renewable energy. When renewables such as solar and wind power generate m
Nov. 11, 2021