Most Popular
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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'Culinary Class Wars' producers deny trying to spice up results
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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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Netflix, streaming platforms come under fire for loose ratings
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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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20 minors registered as CEOs making over 100 million won
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Yoon honors veterans of Korean War in trip to Philippines
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K-pop CEOs sidestep key issues at National Assembly audit
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LG Electronics to post strong Q2 earnings on home appliance biz: analysts
LG Electronics Inc. is likely to report strong second-quarter earnings, analysts said Friday, as its mainstay home appliance business continued to rack up solid results. The South Korean tech company was projected to log 17.6 trillion won ($15.5 billion) in sales in the April-June period, up 37 percent from a year earlier, while its operating profit was estimated to soar 140 percent on-year to 1.2 trillion won over the period, according to the data from seven local brokerage houses compiled by
July 2, 2021
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Hanwha Group chief links up with Heritage Foundation founder
Hanwha Group Chairman Kim Seung-yeon met with Edwin John Feulner Jr., the founder of the Heritage Foundation, in Seoul on Wednesday, continuing their friendship that dates back almost 40 years, the Korean group said Thursday. Meeting over dinner at the Plaza Hotel Seoul, Kim and the former president of the Heritage Foundation exchanged candid thoughts on many things including how relations between South Korea and the US can prosper in the post-coronavirus era, Hanwha said. Kim was accompan
July 1, 2021
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Exports up 40%, in best June in history
South Korea just had the best June ever in terms of export performance on strong global demand, as vaccine rollouts in major economies raise hopes for a recovery. According to the Ministry of Trade, Infrastructure and Energy, the country’s total volume of exports last month came in at $54.8 billion, up 39.7 percent from a year earlier. It was the best export performance that Asia‘s fourth-largest economy has ever recorded in June, and the third-best performance for any month of
July 1, 2021
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GS Caltex to offer ESG consultation to partners, runs supply chain check
GS Caltex said Thursday it will help partner firms across its supply chain to improve business practices in accordance with environmental, social and corporate governance management principles. According to the South Korean total energy company, about 320 partners will conduct self-examinations on their ESG capabilities and submit the results by July 9. After review, GS Caltex will provide risk management consultations. In 2019, GS Caltex developed an ESG questionnaire and 107 partners car
July 1, 2021
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SK Innovation makes battery biz split-off official, Nasdaq IPO on the table
SK Innovation on Thursday officially announced the split-off of its battery business, with plans to list the fast-growing business on the US stock market. During a briefing session held at Conrad Seoul in Yeouido, western Seoul, SKI President and CEO Kim Jun said that the company is mulling an initial public offering of the envisioned battery-focused firm on Nasdaq, or both on Nasdaq and South Korea’s main bourse Kospi. “The exact timing of the split-off and IPO hasn’t bee
July 1, 2021
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[Herald Interview] K-water in charge of CO2-free energy for manufacturers
DAEJEON -- South Korea is making full-fledged efforts to be practically cooperative in the global community’s concerted effort to tackle climate change by developing renewable energy and reducing greenhouse gases. A core joint effort by the global community is the “RE100” club, whose member companies have pledged to use 100 percent renewable energy without resorting to fossil fuels. In South Korea, the Korea Water Resources Corp. -- also known as K-water -- is the first
July 1, 2021
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SK invests W140b in Japanese eco-friendly material maker
SK Inc., the holding firm of South Korean conglomerate SK Group, said Thursday it has struck a 140 billion-won ($123.5 million) deal to buy a 10 percent stake in TBM, a Japanese maker of eco-friendly materials. SK's Japanese investment arm made the investment in the Tokyo-based startup known for LIMEX, a recyclable material derived from limestone and used in products from bags to business cards. In May, SK and three other chemical subsidiaries invested 408 billion won to establish the Japanese
July 1, 2021
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S. Korea to expand tax incentives, lift more regulations for chip biz
South Korea said Thursday it plans to offer more tax incentives and lift more regulations for chipmakers in line with its vision to become a global powerhouse in both memory and non-memory chips. The country is seeking to have major research and development (R&D) projects and facility investment in the chip sector receive incentives through a law revision, according to the Ministry of Trade, Industry and Energy. The proposed bill on expanded tax incentives and eased regulations, a follow-u
July 1, 2021
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Commercial breaks to be allowed for terrestrial TV networks
The government will allow commercial breaks for terrestrial broadcasters beginning this week as part of efforts to buttress the industry suffering from falling ad revenues, officials said Wednesday. The Korea Communications Commission (KCC) said a revised enforcement ordinance of the Broadcasting Act, aiming to allow all networks to broadcast commercials during programs, will take effect Thursday. Terrestrial broadcasters have been prohibited from such advertising si
June 30, 2021
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Daewoo E&C vows enhanced safety management
South Korean builder Daewoo Engineering and Construction is making renewed efforts to enhance its safety management, it said Wednesday. Since adopting a safety-first doctrine in February, the company has rolled out various measures aimed at drastically reducing major disasters at the construction workplace. They included the establishment of a committee under the auspices of the chief financial officer to oversee the operations of safety control teams, launched at every division of the firm la
June 30, 2021
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Shinsegae, Lotte back off from Yogiyo takeover: sources
South Korea's top two retailers -- Shinsegae Group and Lotte Group -- have not joined the race to take over Yogiyo, the country's second-largest food delivery app, industry sources said Wednesday. The rivaling retail giants had been considered the two most viable potential bidders for Yogiyo, run by Germany's Delivery Hero (DH), in a deal that could change the landscape of the country's food delivery industry. "After considering the potential synergy effect in combining the retail and the
June 30, 2021
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[News Focus] Is China reopening to Korean games?
Expectations are running high among South Korean game developers after China recently granted a business license to another Korean game, just the third since 2017, but experts warn that the unexpected approval does not signal an overall shift in China’s hostile licensing policy concerning Korean games. On Monday, Chinese authorities issued a business license to Black Desert Mobile, a mobile version of Pearl Abyss’ hit game of the same name. The news was met with surprise, coming
June 30, 2021
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Samsung further ups presence in domestic smartphone market in Q1: report
Samsung Electronics Co. further expanded its dominance in the domestic smartphone market in the first quarter of the year on the back of robust sales of the Galaxy S and A series, a report showed Wednesday. Samsung had a share of 67 percent in the South Korean smartphone market in the January-March period, up 9 percentage points from a quarter earlier, according to data from market researcher Counterpoint Research. Its first-quarter market share was also 3 percentage points larger than a year
June 30, 2021
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Manufacturer’s Q3 sentiment hits 7-year high on vaccine rollout
South Korean manufacturers’ business sentiment reached a seven-year high for the third quarter this year, as the global economy shows signs of recovery amid vaccine rollouts against the coronavirus pandemic, a poll revealed Wednesday. According to the Korea Chamber of Commerce and Industry, the Business Sentiment Index, which it compiles quarterly, stood at 103 for the July-September period, up four points from the previous quarter. It was the first time in seven years that it surpassed
June 30, 2021
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Samsung's kiosk machine available in more countries
Samsung Electronics Co. on Wednesday announced that its kiosk machine is now available in more countries as the tech giant eyes to bolster its self-service machine business amid the pandemic-induced contactless trend. Samsung Kiosk is now launched in 12 countries worldwide, including the United States, Britain, Spain, Australia and Singapore. Its kiosk machine was first unveiled in February in South Korea. The kiosk with a 24-inch touch-screen display is powered by Samsung's system on chip (So
June 30, 2021
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QLED, OLED TV shipments to reach record highs in 2021: report
QLED and OLED TV shipments are projected to reach record highs this year, a report showed Wednesday, boding well for the South Korean TV makers that lead the premium TV market. The annual shipment of QLED TVs for 2021 is expected to reach 11.02 million units, up 22.4 percent from a year earlier, while that of OLED TVs is estimated to be 7.1 million units, up 80 percent from a year ago, according to market researcher TrendForce. "Continued price hikes of TV panels, as well as a simultaneou
June 30, 2021
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S. Korea accounts for one-third of global EV battery market in Jan.-May
Three South Korean electric vehicle (EV) battery makers accounted for a third of the global market in the first five months of the year, but their share has slightly slipped since last year in the face of toughening competition with Chinese rivals, a market research firm said Wednesday. The trio -- LG Energy Solution Ltd., Samsung SDI Co. and SK Innovation Co. -- supplied a combined 88.4 gigawatt-hour (GWh) equivalents of EV batteries in the January-May period, up from 33.6 GWh a year earlier,
June 30, 2021
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Samsung, Deutsche Telekom to develop eco-friendly 5G smartphone
Samsung Electronics Co. has signed a partnership with Germany's telecom giant Deutsche Telekom AG to develop an environment-friendly 5G smartphone, company officials said Wednesday. Their strategic partnership for sustainability was signed during the Mobile World Congress 2021, according to officials. The deal includes collaboration in developing a "green smartphone" that is easy to repair and equipped with a removable battery. It is expected to be released by end-2022. The two sides
June 30, 2021
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LG Electronics to launch Mini LED TVs this week
LG Electronics Inc. said Tuesday its Mini LED TVs will hit the shelves this week as the South Korean tech giant eyes to expand its presence in the premium TV market. Starting with North America, LG's QNED Mini LED TVs will be available in major markets, including Europe, South Korea and Japan. Its first Mini LED TV comes in 65-, 75- and 86-inch sizes in 4K and 8K resolutions. In South Korea, four QNED Mini LED TV models will be sold with prices ranging from 5.09 million won ($4,500) to 16.8 mi
June 30, 2021
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Marvel Future Revolution signals Netmarble’s aggressive global expansion in second half
In an ambitious push for a global audience, South Korean game firm Netmarble on Tuesday showcased Marvel Future Revolution, an open world role-playing game featuring Iron Man, Doctor Strange, Captain America and other beloved characters from Marvel Comics. During a media showcase held at its headquarters in Guro-gu, western Seoul, Netmarble executives unveiled the details of the new title, set for a global launch in 240 countries and territories in the second half of the year. The event also
June 29, 2021