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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Hyundai to temporarily suspend Indian plant amid spreading pandemic
Hyundai Motor Co., South Korea's biggest carmaker, said Tuesday it will temporarily suspend its Indian plant due to the rapidly spreading coronavirus pandemic. Hyundai Motor will halt the Indian plant in the southern state of Tamil Nadu for five days starting Tuesday, a company spokesman said over the phone. The decision came after two workers were infected with COVID-19 and several workers staged a sit-in at the plant Monday amid rising virus fears among workers. Tamil Nadu is one of the
May 25, 2021
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SsangYong likely to pick lead manager for sale process
SsangYong Motor Co., currently under court receivership, is expected to select a lead manager as early as this week to find a new investor, industry sources said Tuesday. The carmaker didn't confirm the plan to select a lead manager. US vehicle importer HAAH Automotive Holdings Inc. reportedly remains among the potential bidders though it failed to submit a letter of intent (LOI) to a bankruptcy court to acquire the financially troubled carmaker. SsangYong's Indian parent Mahindra & Mah
May 25, 2021
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Posco teams up with ministry to support immigrant mothers
South Korea’s top steelmaker, Posco, is expanding its social outreach effort to help immigrant mothers and their children. The company said Monday that it is launching a three-year support program in collaboration with the Ministry of Gender Equality and Family and the Korea Institute for Healthy Family. A three-way memorandum of understanding is to be signed Tuesday. The institute, an agency under the auspices of the Gender Ministry that supports the social integration of multi
May 24, 2021
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Hyundai Steel runs coffee waste upcycling campaign
Hyundai Steel is running an upcycling campaign to find new uses for discarded coffee grounds as part of its social contribution project, the company said Monday. From May 17 to June 16, the steelmaker is putting up advertisements showing eco-friendly products made from coffee waste inside subway stations and on city buses operating in Incheon, the company said. The campaign is designed to promote the idea of upcycling coffee waste. People who take selfies with the advertisements and post th
May 24, 2021
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SK E&C begins afresh as ‘SK ecoplant’
SK Engineering & Construction, the building arm of South Korea’s third-largest conglomerate SK Group, has officially changed its corporate name to “SK Ecoplant” as part of the group’s effort to enhance ESG management. The company on Monday released its new corporate identity and future vision on the company‘s intranet under the title “Deep Change Story.” The new corporate name was approved at the extraordinary general shareholders’ meeting
May 24, 2021
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Criminal complaint filed against Samsung, Kumho chiefs over employment ban
A civic group in South Korea said Monday it has filed a criminal complaint against Samsung’s de-facto chief Lee Jae-yong for breaking an employment ban imposed on him following a conviction of bribery. The Seoul-based Solidarity for Economic Reform, in its complaint lodged with the Seoul Metropolitan Police Agency, accused the Samsung Electronics vice chairman for violating a local law that bans economic figures convicted of breach of trust, embezzlement or bribery from working for rele
May 24, 2021
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Korea Shipbuilding wins W348b order for 6 ships
Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday that it has signed deals worth 348 billion won ($308 million) to build six ships. Under the deal with a Liberian company, Hyundai Samho Heavy Industries Co., a unit of KSOE, will deliver a 91,000-cubic-meter liquefied petroleum gas (LPG) carrier starting in the first half of 2023, KSOE said. An order for an 86,000-cubic-meter LPG carrier and two 50,000-ton petrochemicals carriers was placed by an Asian company, KSOE said. Th
May 24, 2021
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Samsung expands monitor lineup with upgraded features
Samsung Electronics Co. on Monday added more products to its monitor lineup with enhanced connectivity options as the South Korean tech giant targets to boost sales amid the pandemic-induced stay-at-home trend. Samsung said its latest Smart Monitor, powered by the Tizen operating system, includes a 43-inch M7 model supporting ultra-high definition resolution. The company previously introduced a 32-inch M7 last November. The 43-inch M7, which supports 65W charging through a USB Type-C port and
May 24, 2021
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[Herald Interview] ‘Keeping forests young is key to net-zero emissions’
With the Earth’s rapidly changing climate and its consequences being felt around the world, calls are growing for nations to take immediate action to tackle the issue. To play its part in the global fight against climate change, South Korea is implementing measures to become a net-zero emitter of greenhouse gases. Among them is a plan to plant 3 billion trees by 2050, and the key is to keep the country’s forests young, Choi Byeong-am, the minister of the Korea Forest Service tol
May 23, 2021
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Business bodies welcome outcome of summit
Major business associations in South Korea welcomed the outcome of President Moon Jae-in’s visit to the US, and praised announced partnerships on strategic business areas including semiconductor chips and batteries. The Federation of Korean Industries, a major business lobbying group here, issued a statement on Sunday on the business agreements made over the weekend in line with President Moon’s summit talks with his US counterpart Joe Biden. “We view the agreement of the
May 23, 2021
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[News Analysis] Korea, US reinforce ties on chips, EV batteries to reset supply chains
South Korea and the United States have agreed to elevate the level of cooperation in major industries, including semiconductors and lithium-ion batteries, to reestablish global supply chains amid growing challenges from China and looming shortages of key components under the COVID-19 pandemic. The strengthened economic partnership is viewed as a major feat by President Moon Jae-in from his visit to the US for summit talks last week, paving a way to stabilize rocky global supply chain
May 23, 2021
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KT to establish AI research institute with KAIST
KT Corp., a major South Korean telecom operator, said Sunday it signed an agreement with the country's top science and technology university to establish a research institute for artificial intelligence (AI) and software development. Under the agreement, KT will work with the Korea Advanced Institute of Science and Technology (KAIST) to build the research institute in the central city of Daejeon, 164 kilometers south of Seoul, by the end of this year. KT said the institute will house around 20
May 23, 2021
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Clothes, accommodations invite more consumer complaints as people go out more
Consumer complaints about clothes and accommodations surged in April as outdoor activities increased sales of those products, the Korea Consumer Agency said Friday. Complaints about fashion goods saw the steepest increase. Compared with the previous month, the total number of inquiries about women’s dresses increased by 46.1 percent and T-shirts by 31 percent. Most complaints were about shipping fees when customers requested refunds for defective products. Complaints about accommodati
May 22, 2021
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S. Korean firms announce plans to invest $39.4b in US
WASHINGTON/SEOUL -- Four major South Korean companies, including Samsung and SK, on Friday announced plans to invest $39.4 billion in the United States, ahead of President Moon Jae-in's summit with US President Joe Biden in Washington. During a business roundtable attended by Moon, Samsung Electronics announced plans to invest $17 billion in a new foundry plant. LG Energy Solution and SK innovation, which make batteries, said they plan to invest some $14 billion in separate and joint projects
May 22, 2021
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DSME seeks to localize key eco-friendly motor technology
South Korea’s shipbuilder Daewoo Shipbuilding & Marine Engineering said Friday that it will localize a core technology to propel ships, in order to advance its competitiveness, especially regarding high value-added vessels. DSME has signed a memorandum of understanding with Hyosung Heavy Industries, the industrial motor manufacturer under Hyosung Group, to jointly develop a shaft generator motor using permanent magnet, according to officials. A shaft generator motor is a technolog
May 21, 2021
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Netmarble’s US mobile game subsidiary Jam City to go public
Jam City, Netmarble’s mobile game subsidiary in the US, will go public in a deal with a blank-check company in the second half of this year, company officials said Friday. The company has reached a merger agreement with a publicly traded special purpose acquisition company DPCM Capital, which will result in Jam City being listed on the New York Stock Exchange. The combined company will have a valuation of $1.2 billion, according to Jam City. Jam City will use the cash proceeds to acq
May 21, 2021
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‘Excessive’ controls reduce animal infections in Korea
SEJONG -- South Korea has been successful in minimizing the spread of contagious animal disease by building up a bolstered, preemptive livestock disease control system over the past few years. Three major livestock diseases -- African swine fever, avian influenza and foot-and-mouth -- have been subject to full-fledged control measures, led by the Ministry of Agriculture, Food and Rural Affairs. Among the ministry-led countermeasures and preemptive actions were intensive disinfection, immediat
May 20, 2021
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Hyundai Steel evolving as hydrogen provider
As the car industry is moving fast to migrate to environmentally friendly energy sources, Hyundai Steel is going full steam ahead with its hydrogen business. The steelmaker said Thursday that it will expand its hydrogen business to go in tandem with its biggest client Hyundai Motor Group’s fuel cell electric vehicle production. Hyundai Motor Group, in its Fuel Cell Electric Vehicle Vision 2030 unveiled in 2018, said it would produce 500,000 FCEV units by 2030. It was in 2016 that Hyun
May 20, 2021
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Beam Mobility expands e-scooter sharing service in Korea
Vivid purple e-scooters from Beam Mobility can be found on the roads at four new locations in South Korea, as the firm announced expansion of its service area here. According to the Singapore-based micromobility startup, Beam Saturn+, a state-of-the-art model equipped with a cellphone dock and a cup holder will be rolled out at the four new locations -- Seoul’s Nowon District, Seongnam’s Bundang District, Goyang City and Gwangju City. With an aircraft-grade aluminum frame, the mod
May 20, 2021
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LIG Nex1 to develop Korea's largest hydrogen cargo drone
LIG Nex1 said Thursday it will develop a hydrogen drone that can carry 200 kilograms of cargo, the largest in South Korea. According to the defense and aerospace firm, it was selected by the Ministry of Trade, Industry and Energy to carry out the 44-billion-won ($38.8-million) national project for the development of autonomous cargo drones powered by hydrogen fuel cells. “The development will be completed in 2025 and the drones will be deployed to the military as transportation drones
May 20, 2021