Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Ex-president's daughter investigated for drunk driving accident
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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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First lady’s Dior bag scandal to be at center of Assembly audit
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Daewoo Shipbuilding's Q3 loss narrows on strong operating profit
South Korea's Daewoo Shipbuilding & Marine Engineering Co. said Monday that its net losses narrowed in the third quarter from a year earlier on the back of its strong operating profit. Net losses shrank to 29.2 billion won ($26.3 million) in the July-September period from a loss of 296.4 billion won a year earlier, the company said in an emailed statement. Operating profit came to 33.6 billion won in the period, a turnaround from an operating loss of 256.3 billion won, while sales fell 2
Nov. 16, 2020
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S-Oil recognized by Dow Jones Sustainability Indices for 11 consecutive years
S-Oil said Monday it has made the Dow Jones Sustainability Indices World, the list of world’s most sustainable companies, this year. According to the South Korean refinery, it has been included in the DJSI World list for 11 consecutive years. In the Oil & Gas category, S-Oil is the first and the only refinery in the Asia-Pacific region to be included on the list for 11 years straight, the company said. Co-operated by global index providers S&P Dow Jones Indices and RobecoSAM,
Nov. 16, 2020
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[Advertorial] LG Chem bolsters CSR activities under new slogan, ‘Green Connector’
LG Chem recently announced its new corporate social responsibility slogan, “Green Connector,” in response to global climate change and is focusing its efforts on four major fields: ecology, education, energy and the economy. To boost its corporate social responsibility activities for ecology, the South Korean chemical-to-battery giant joined hands with the Korean Federation for Environmental Movements last month, forming a team of 20 university students and supporting them in stu
Nov. 16, 2020
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LG Electronics’ OLED TV production in full throttle in Mexico ahead of holidays
LG Electronics said Monday it has ramped up the production of its organic light-emitting diode TVs in Mexico by more than 30 percent to respond to a surge in demand anticipated for the upcoming holidays. According to the South Korean consumer electronics giant, its OLED TV plant in Reynosa, Tamaulipas, Northeastern Mexico, has increased its production by more than 30 percent to prepare for Black Friday and Christmas season. All OLED TVs manufactured in the Reynosa plant are shipped througho
Nov. 16, 2020
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LG Group to split off non-electronics affiliates
LG Group, the fourth-largest conglomerate in South Korea, is set to split off multiple affiliates with the former chief’s sibling, according to industry sources on Monday. Koo Bon-joon, an uncle of current LG Chairman Koo Kwang-mo and younger brother of late former Chairman Koo Bon-moo, is preparing to take control of multiple affiliates. The affiliates expected to be separated from the group are LG International Corp., LG Hausys Ltd., and Pantos Co., according to news reports. It
Nov. 16, 2020
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Korean firms likely to benefit from RCEP trade deal
South Korea signing the Regional Comprehensive Economic Partnership is expected to benefit Korean companies, especially in steel, automobiles and electronics, through the elimination of tariffs across Asian countries. The pact will also help better protect Korean firms’ intellectual property rights in the region, experts said Monday. RCEP is made up of 10 Southeast Asian countries, South Korea, China, Japan, Australia and New Zealand. The region covers nearly a third of the global economy
Nov. 16, 2020
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Samsung launches new monitor highlighting enhanced usability, connectivity
Samsung Electronics Co. on Monday launched a new monitor highlighting enhanced usability and connectivity amid the pandemic-driven stay-at-home trend. Samsung said its Smart Monitor is a "do-it-all screen" that meets consumers' needs in remote working, learning and at-home entertainment with better mobile and PC connectivity. The flat-screen monitor comes in two models, with the M7 supporting ultra-high definition resolution in 32-inch and the M5 featuring full HD
Nov. 16, 2020
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Samsung’s global dishwasher sales cross 1 million mark
Samsung Electronics sold more than 1 million dishwashers globally this year, the company said Monday. The record stands in accumulated figure as of the second week of November. Samsung credited the dishwasher sales growth to an expanded line of products and technological features that helped them stand out in South Korea, North America and European markets. In Korea, the newly launched “bespoke” dishwasher line helped quadruple third quarter sales volume on-year. The bespoke washer
Nov. 16, 2020
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Cinema chains, distributors remain in red in Q3, but have likely bottomed out
South Korean movie theaters and film distributors again struggled with operating losses in the third quarter due to the protracted novel coronavirus pandemic, but their deficit contracted from three months earlier, industry reports showed Monday. CJ CGV, the leading multiplex chain in South Korea, saw its third-quarter operating loss reach 96.8 billion won ($87.3 million), swinging from an operating profit of 31 billion won tallied a year earlier, according to a regulatory filing. Its sales tu
Nov. 16, 2020
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[Herald Interview] With community-driven accelerator program, duo seeks startups with global impact
The world of venture investments is largely constrained to experts like venture capitalists and entrepreneurs who are well-versed in the industry. But what if the role of finding promising startups was extended to everyday people? This is exactly what Ho Chang-seong and Moon Ji-won, the co-founders of TheVentures, a South Korea-based investor and incubator for early-stage startups, did with their Impact Collective, a community-driven accelerator program. Launched this year, Impact Collective,
Nov. 16, 2020
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NCSOFT Q3 net jumps over 30% on strong sales of key game titles
NCSOFT Corp., a major South Korean online and mobile game developer, said Monday its third-quarter net income rose 34.3 percent from a year earlier thanks to the continued popularity of its major mobile games. Net income stood at 152.5 billion won ($136.7 million) in the July-September period, compared with 113.6 billion won a year earlier, according to a regulatory filing. Operating income spiked 68.9 percent on-year to 217.7 billion won, while sales rose 47.1 percent to 585.2 billion won ove
Nov. 16, 2020
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17 Korean companies on this year’s DJSI list
A total of 17 South Korean conglomerates, including LG Electronics, SK Holdings and CJ CheilJedang, made the list of the 2020 Dow Jones Sustainability Indices, according to consulting agency Korea Productivity Center on Sunday. The DJSI, co-operated by US-based finacial data firm S&P Dow Jones Indices and Switchland-based RobecoSAM, serves as the evaluation method for global sustainability management and the standard for investment. The indices consist of three geographical breakdowns--wo
Nov. 15, 2020
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Hyundai Mobis appoints Axel Maschka as global sales head
Hyundai Mobis, South Korea’s biggest auto parts maker and a key affiliate of Hyundai Motor Group, announced Friday that Axel J. Maschka will become the new head of the company’s global sales division. Maschka is the first non-Korean executive to be hired by Hyundai Mobis in the non-R&D area. Maschka is also the highest-ranking foreign executive ever appointed in the company’s history. Hailing from Germany, Maschka has 30 years of experience in the automotive industry and
Nov. 15, 2020
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Hyundai Mobis hires ex-Valeo sales expert
Hyundai Mobis Co., South Korea's biggest auto parts maker, said Sunday it has hired an ex-Valeo sales expert as it strives to ride out an extended coronavirus pandemic. Hyundai Mobis appointed Axel J. Maschka as executive vice president in charge of the company's global sales division. He will directly report to Chief Executive Officer Park Chung-kook from Monday, the company said in a statement. It is the first time for the company to name a non-Korean executive in the significant sales divi
Nov. 15, 2020
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GM recalls EVs equipped with LG Chem batteries
General Motors Co. said Saturday it has decided to recall electric vehicles equipped with batteries made by South Korean producer LG Chem Ltd. due to safety concerns. The recall covers the Bolt EV produced from 2017 to 2019, installed with LG Chem‘s batteries made from Ochang, 120 kilometers south of Seoul. The measure came amid concerns that the batteries could cause fires when fully charged. The US National Highway Traffic Safety Administration has launched investigations into three f
Nov. 14, 2020
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Microsoft says N. Korean, Russian hackers attacking COVID-19 vaccine makers
WASHINGTON -- US tech giant Microsoft has detected cyberattacks from three foreign entities, including two from North Korea, against companies and research institutes working to develop a COVID-19 vaccine, a company official said Friday, urging government action to protect such facilities. “In recent months, we‘ve detected cyberattacks from three nation-state actors targeting seven prominent companies directly involved in researching vaccines and treatments for COVID-19,” Tom
Nov. 14, 2020
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S. Korean bio firm GL Rapha to produce Russian COVID-19 vaccine
South Korean bio company GL Rapha will produce over 150 million annual doses of Russia's COVID-19 vaccine for global distribution, Russia's sovereign wealth fund said Friday. The Russian Direct Investment Fund (RDIF) said GL Rapha will begin manufacturing Sputnik V in South Korea next month, which it described "the world's first registered vaccine" based on "human adenoviral vector-based platform." "The parties intend to commence production in December 2020 and a roll
Nov. 13, 2020
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Amorepacific plans voluntary retirement
Amorepacific is planning to cut its headcount through offering voluntary retirement in the wake of the pandemic. According to news reports on Friday, the cosmetics giant announced through an internal notice that it would accept applicants for voluntary retirement from employees who have worked for the company for more than 15 years. “We posted an announcement this afternoon that the firm would accept applicants for voluntary retirement. We have not decided on the number of people yet,&
Nov. 13, 2020
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Korean Air seeking to buy Asiana Airlines
Korean Air is seeking to acquire Asiana Airlines with the support of the Korea Development Bank, according to the airline industry on Friday. Industry sources said Asiana Airlines’ creditor KDB is considering mergers and acquisitions of the two nation’s largest airlines in a way to support Hanjin Group, which owns Korean Air. The most likely option is that the KDB invests in Hanjin Kal, the holding company of Hanjin Group, through a paid-in capital increase method allocated to a th
Nov. 13, 2020
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Hyundai Motor wins CSR list in China for 5th consecutive year
Hyundai Motor Group has been ranked first among carmakers operating in China in a corporate social responsibility index reported by the Chinese Academy of Social Sciences, the company announced Friday. The company has topped the list measuring carmakers’ corporate social responsibility activities since 2016, the company added. The South Korean automaker was especially recognized for the efforts it made earlier this year in China to help people fight COVID-19, the company explained. H
Nov. 13, 2020