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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First lady’s Dior bag scandal to be at center of Assembly audit
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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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Seoulites celebrate coexistence at Wellness Seoul 2024
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[Advertising Awards] What makes a digital marketer shine?
This is the era of fourth industrial revolution. Traditional marketing platforms are rapidly receding in their stature now that we have big data-based artificial intelligence entering the realm of decision-making. Digital advertisement quotes had already begun to surpass the TV advertisement quotes since 2016, and this year, in 2020, they are expected to account for over 50 percent of the entire advertisement market. Digital marketing refers to the extensive marketing activity of pitching prod
Nov. 5, 2020
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Biz community on virus alert after reporter at Lee Kun-hee's funeral tests positive
A number of South Korean business leaders and senior government officials who visited the funeral hall of late Samsung Group Chairman Lee Kun-hee were either tested or planning to undergo tests for COVID-19 on Wednesday after a reporter who covered Lee‘s funeral was confirmed to be infected with the coronavirus. According to business community insiders, SK Group Chairman Chey Tae-won and Park Yong-maan, chairman of the Korea Chamber of Commerce and Industry, both received tests after rec
Nov. 4, 2020
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Korea asks Vietnam for fair anti-dumping probe into corn syrup
The government said Wednesday it has called for Vietnam to conduct a fair and objective investigation into an anti-dumping case related to high-fructose corn syrup from Korea and pledged to discuss “essential facts” with the country before a final decision is made. Essential facts are crucial facts that form the basis of the investigating authority’s decision to apply anti-dumping duties. According to the Ministry of Trade, Industry and Energy, it held a video conference
Nov. 4, 2020
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Kepco issues ESG bonds worth W200b for 2 consecutive years
Korea Power Corp. said Wednesday that it has become the first South Korean energy company to issue environmental, social and governance bonds worth 200 billion won ($176 million) for two consecutive years. According to the state-run utility, the bonds comprise two-year bonds worth 30 billion won, three-year bonds worth 100 billion won and five-year bonds worth 70 billion won. “Kepco issued the ESG bonds at the lowest interest rate out of all ESG bonds that have been issued by public
Nov. 4, 2020
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Foreign Company Day awards 44 firms for economic contribution
A total of 44 medals were awarded to foreign-invested companies and related organizations who contributed to the Korean economy, at the 2020 Foreign Company Day held on Tuesday in Seoul, according to the Korea Foreign Company Association, or FORCA. Inaugurated in 2001, the Foreign Company Day marks its 20th anniversary this year. The ceremony is held annually under the auspices of the Ministry of Trade, Industry and Energy and FORCA. At the event, medals were given to a total of 44 investm
Nov. 4, 2020
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[Photo News] SsangYong unveils brand new version of mid-size SUV Rexton
Automaker SsangYong Motor unveiled its brand new mid-size SUV Rexton at a showcase event on Wednesday in Seoul. The event was attended by former national football team goalkeeper Kim Byung-ji (far left), presenter Lee Hye-sung (second from left), popular trot singer Lim Young-woong (second from right), who is the carmaker’s brand ambassador, and racecar driver Seo Ju-won. With a 2.2-liter diesel engine, the new SUV model boasts the horsepower of 202 and the maximum torque of 45 kilogram-m
Nov. 4, 2020
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COVID-19 a fork in the road for Korean pharmas’ conflicting Q3 report
South Korean pharmaceuticals and biologics companies produced conflicting third-quarter reports, some of them boosted by their involvement in COVID-19-related pipelines. GC Pharma, Chong Kun Dang Pharmaceutical, Boryung Pharmaceutical, Daewoong Pharmaceutical and Yuhan Corp. reported stellar performances, while Dong-A ST and Hanmi Pharm saw their figures falter. The companies that fared better than the others had flu vaccines and treatments for chronic illnesses in their portfolios. Both
Nov. 4, 2020
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Hyundai signs MOUs to supply 4,000 hydrogen trucks to China by 2025
Hyundai Motor Co., South Korea's biggest carmaker by sales, said Wednesday it has signed two separate initial deals with Chinese companies to supply 4,000 hydrogen trucks by 2025 in a move to enter the Chinese hydrogen commercial vehicle market. Hyundai signed a memorandum of understanding (MOU) with Shanghai Electric Power Co., Shanghai Sunwise Energy Systems Co., and Shanghai Ronghe Electric Technology Financial Leasing Co. to supply 3,000 hydrogen fuel-cell electric trucks in the next five y
Nov. 4, 2020
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[Monitor] Contrasting sales performance of Korean carmakers
Korea’s five finished automobile companies showed contrasting sales performance results in October compared to their respective reports in the same month last year. Amid the COVID-19 pandemic’s crippling effects on the global economy and consumer reception toward newly launched vehicle models, Kia Motors’ sales picked up both overseas and domestically, while Renault Samsung’s sales more than halved. (khnews@heraldcorp.com)
Nov. 4, 2020
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Hyundai, Kia's US sales rise 6% on SUV models
Hyundai Motor Co. and its affiliate Kia Motors Corp. said Wednesday their US sales rose 6 percent last month from a year earlier on strong demand for their SUV models. In October, Hyundai and Kia sold a combined 113,489 vehicles in the United States, up from 107,101 units in the same month of last year, the companies said in separate statements. Hyundai's US sales gained 1 percent to 57,395 units last month from 57,094 a year ago, while Kia's jumped 12 percent to 56,094 fro
Nov. 4, 2020
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SK hynix Q3 net more than doubles on Huawei effect, mobile demand recovery
SK hynix Inc., South Korea's second-largest chipmaker, on Wednesday reported estimate-beating third-quarter earnings on the back of a recovery in demand for mobile chips amid the pandemic. Its net profit stood at 1.07 trillion won ($950.4 million) in the third quarter of the year, up 117.5 percent from a year earlier, the company said in a regulatory filing. Operating profit for the July-September period more than doubled to 1.29 trillion won compared with 472.6 billion won a year ago, while
Nov. 4, 2020
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S-Oil deploys 2nd offshore crude oil offloading facility worth W172b in Ulsan
S-Oil has installed its second single point mooring unit in Ulsan, a loading buoy anchored offshore that allows tankers to offload their crude oil via pipeline to the refineries, the company said Tuesday. According to the South Korean refinery, the SPM unit, the second one at the company’s Ulsan plant, began its operation Tuesday. Installed in the waters off Ulsan New Port, the SPM unit is equipped with mooring equipment that can hold fast tankers and is connected with 44-inch diamet
Nov. 3, 2020
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SKC posts highest quarterly operating profit since 2015
SKC on Tuesday announced an earnings surprise for the third quarter of this year, recording a revenue of 723.7 billion won ($637.1 million) and an operating profit of 55.3 billion won, the largest-ever operating profit since 2015. According to the chemical and tech material producing unit under South Korean conglomerate SK Group, it saw a 19.7 percent and a 44 percent jump in revenue and operating profit on-year, respectively, thanks to its business model centered on mobility and semiconducto
Nov. 3, 2020
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Sugentech to export coronavirus, flu kits to Europe, US
South Korean biopharmaceutical firm Sugentech Inc. said Tuesday it has signed an agreement to export three different types of diagnostic kits for the novel coronavirus and seasonal influenza to the United States and Europe. Under the agreement with Germany-based DiaSys Diagnostic Systems, a total of 200,000 rapid antigen kits by Sugentech to detect the COVID-19 virus will be distributed in Germany. The value of the deal was not revealed. Sugentech's test kit that can detect both the COVID-19 v
Nov. 3, 2020
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[Monitor] Lee Jae-yong to take father’s crown in stock rich list
Assuming that the Samsung family inherits the shares of the late Chairman Lee Kun-hee at the legal ratio (1.5 for wife and 1 for children), his wife Hong earns the largest amount of 5.9 trillion won ($5.2 billion). Each of the three children, including Samsung Electronics Vice Chairman Lee Jae-yong, will inherit 3.9 trillion won. If so, the value of Vice Chairman Lee’s equity holdings will exceed 10 trillion for the first time, and he will be the largest holder of shares in South Korea.
Nov. 3, 2020
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Industry ministry to launch new division on future cars
South Korea's industry ministry said Tuesday it will launch a new division under its wing, which will be in charge of spearheading the country's future car sector in line with the country's blueprint on the automobile segment. The new division will also center on developing electric vehicle and hydrogen car-related technologies, according to the Ministry of Trade, Industry and Energy. The new body will officially launch Nov. 11. The decision came in line with the country's efforts to foster en
Nov. 3, 2020
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GC Pharma produces more COVID-19 plasma therapy amid growing demand
South Korean biotech company GC Pharma has begun additional production of its plasma therapy treatment for the novel coronavirus amid growing demand for treatment purposes, company officials said Tuesday. The plasma therapy, known as GC5131, is a type of hyperimmune globulin drug that uses blood plasma taken from people who have fully recovered from COVID-19. It is considered one of the earliest treatment options. The treatment candidate is undergoing clinical trials both at home and abroad,
Nov. 3, 2020
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[News Analysis] EV fires draw attention to separator tech of LG Chem, Samsung SDI, SK Innovation
The recent recall of Hyundai Motor’s Kona electric vehicle is shining a spotlight on separators, one of the four key components of EV batteries along with cathodes, anodes and electrolytes. Separators are basically thin walls with tiny holes that divide cathodes from anodes. When batteries are charged and discharged, ions go back and forth between cathodes and anodes through these tiny holes. Separators prevent cathodes and anodes from reacting to each other and triggering short circui
Nov. 2, 2020
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Kepco to build grids preemptively to meet growing renewable energy facilities
Korea Power Corp. said Monday it has launched a special task force dedicated to tackling structural and systemic constraints that keep South Korea’s burgeoning renewable energy industry from growing. According to the state-run utility, it will construct power grids preemptively in regions where renewable energy facilities are expected to be built, including Shinan and Yeonggwang in South Jeolla Province. Since October 2016, Kepco has initiated a policy that guarantees access to power
Nov. 2, 2020
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GM Korea's Oct. sales rise 4.1% on strong demand for SUV models
GM Korea Co. said Monday its sales rose 4.1 percent last month from a year earlier, helped by increased sales of its sport utility vehicle models despite the coronavirus pandemic. The South Korean unit of General Motors Co. sold 31,391 vehicles in October, up from 30,158 units the previous year, the company said in a statement. Domestic sales climbed 11 percent to 7,064 units last month from 6,394 a year ago. Exports were up 2.4 percent to 24,327 from 23,764, it said. Robust sales of S
Nov. 2, 2020