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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Kia workers to vote on potential strike for higher wages
Kia Motors Corp.'s union said Wednesday its unionized workers plan to vote on a potential strike next week to demand higher wages and performance-based bonuses. Kia Motors and its union have held nine rounds of meetings in this year's wage talks but haven't narrowed the gap running deep between them over wages and bonuses. The carmaker's 30,000-strong union will have the right to go on strike if more than 50 percent of the union members support a walkout in the vote due Nov. 3. The union dem
Oct. 28, 2020
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Remembered as superb biz mogul, Samsung chief Lee Kun-hee laid to rest
Samsung Group chief Lee Kun-hee, one of most influential businessmen in South Korea's post-war era, was laid to rest in a funeral Wednesday as his family, friends and associates mourned his death. Lee, who built the country's largest conglomerate, died Sunday at age 78, more than six years after being hospitalized for a heart attack. The send-off ceremony for Lee was held in a private manner at a funeral hall at Samsung Medical Center in southern Seoul around 7:30 a.m., with his wife, Hong Ra-
Oct. 28, 2020
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[KH Biz Forum] Pandemic fostered direct cross-border e-commerce
Cross-border e-commerce allows sellers to meet end users directly in the global market, quickly respond to consumers’ feedback and sell their products in more marketplaces, head of Amazon’s Global Selling Korea Lee Sung-han said Tuesday. He said more business owners should go online and branch out into other countries despite the COVID-19 crisis, as he touted Amazon’s support for such moves. “Crisis breeds opportunity. As noted by experts, instead of only focusing on
Oct. 27, 2020
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Krafton selects 5 underwriters to seek IPO in 2021
Krafton said Tuesday it has designated five underwriters to publicly list the company in 2021. According to the South Korean game company best known for the shooter game PlayerUnknown’s Battlegrounds, Mirae Asset Daewoo is the lead underwriter while co-underwriters include Credit Suisse Securities, Citigroup Global Markets Korea Securities, JP Morgan and NH Investment & Securities. “Our goal is to list the company in Korea next year. After selecting underwriters, we will make
Oct. 27, 2020
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Posco International selected as top ESG firm for 2nd year
Posco International was selected as the grand prize winner in the ESG segment at the 2020 Outstanding Companies Awards hosted by the Korea Corporate Governance Service, the firm said Tuesday. The firm said its efforts and achievements in promoting sustainable management had been recognized by winning the prize for two consecutive years. The KCGS is an organization that conducts evaluation, research and surveys on corporate governance, social responsibility and environmental management. I
Oct. 27, 2020
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[KH Biz Forum] Faster changes, greater chances in post-COVID-19 era
South Korean business representatives, policymakers and government officials gathered at the annual The Korea Herald Biz Forum in its third iteration Tuesday to share insights on changing consumer patterns, business regulations and new economic growth engines in the post-COVID-19 world. Under the theme “Contact less, connect more,” this year’s forum was held at The Shilla in Seoul and was livestreamed due to the COVID-19 pandemic. Among the speakers were Kim Jae-shin, vice c
Oct. 27, 2020
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[KH Biz Forum] Future of health care amid COVID-19
Digital transformation and COVID-19 are reshaping health care on an irreversible course, said Choi Yoon-sup, managing partner of Digital Healthcare Partners at The Korea Herald Biz Forum held Tuesday at The Shilla in Seoul. The forum, held under the tagline of “Contact less, connect more,” had speakers deliver talks on business outlook in the post-COVID-19 era. Choi’s speech outlined digital health care trends surrounding telemedicine, digital therapeutics and medical artifi
Oct. 27, 2020
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[KH Biz Forum] Korea to prepare delicate legal push to keep e-commerce market fair
Kim Jae-shin, vice chairperson of the Fair Trade Commission of South Korea, said legislation regarding the growing platform businesses would continue to evolve to secure fair trade and competition during the Korea Herald Biz Forum held Tuesday. Kim said the new legislation regarding the ecommerce market would be introduced in South Korea as the market was rapidly expanding, especially after the COVID-19 pandemic. According to a previous report by the government, the e-commerce transactions,
Oct. 27, 2020
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LG International awarded for outstanding ESG efforts
LG International has been recognized for its practices in environmental responsibility, social responsibility and governance at the 2020 Outstanding Companies Awards hosted by the Korea Corporate Governance Service, the company said Tuesday. According to the commodity trading and mining affiliate of LG Group, it received an “A” ESG rating from the KCGS, an improvement from a B+ from a year earlier. Specifically, LG International was given an A in environmental responsibility, an
Oct. 27, 2020
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Samsung SDI's Q3 operating profit spikes 61.1%
Samsung SDI enjoyed a 61.1 percent surge in revenue to 267.4 billion won ($237.4 billion) in the third quarter, fueled by a strong performance of its battery business, according to a regulatory filing posted on Tuesday. The South Korean battery giant recorded 3.08 trillion won and 240.7 billion won in revenue and net profit, a 20.2 percent and 10.7 percent jump in the same period. The company’s booming battery business registered a revenue of 2.3 trillion won, a 22 percent spike compa
Oct. 27, 2020
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[KH Biz Forum] ‘Coronavirus didn’t change anything. It only accelerated existing trends’
Some say the coronavirus has changed everything. But Kim Ran-do, a renowned scholar on fast-emerging trends in South Korea, said the change was already happening and the pandemic has only accelerated it. At The Korea Herald Biz Forum: “Contact less, connect more,” held Tuesday at The Shilla in Seoul, the professor of consumer studies at Seoul National University said the COVID-19 outbreak has changed the speed of today’s trends but not their direction. “In 2018, I coi
Oct. 27, 2020
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Unity’s game engine expands market to VR/AR, but is it profitable?
Unity, a widely used game engine used to create multiple-dimensional, virtual reality, and augmented reality games, has emerged as a new platform for rising industries to test their new technologies such as self-driving cars in virtual reality. The engine is used in other industries as well, such as films, engineering and construction. But despite its outreach to industries seeking technological transformations, the company faces a dilemma over its subscription-based business model. Rega
Oct. 27, 2020
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Send-off ceremony for late Samsung chief to be held Wednesday, mourners in queue
Samsung Group on Tuesday was preparing for the send-off ceremony for its late chief Lee Kun-hee as more leaders from business and political communities mourned the death of one of South Korea's most influential tycoons. Lee died Sunday at age 78, more than six years after being hospitalized for a heart attack. The funeral ceremony for Lee, scheduled for Wednesday, is expected to start with eulogies featuring his decadeslong commitment to the country's top conglomerate and his achievements, tho
Oct. 27, 2020
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Hanwha Energy wins $185m solar project in US
Hanwha Energy Corp., a South Korean renewable energy company, said Tuesday that it has won a project worth $185 million to build a solar power plant on Hawaii's most populated island of Oahu. Under the deal with Hawaiian Electric Co., Hanwha Energy is set to build the 60-megawatt solar facility and energy storage systems (ESS) with capacity of 240 megawatt hours (MWh) by 2023. ESS refers to energy saving procedures in large batteries for the efficient distribution of power. Hanwha Energy sai
Oct. 27, 2020
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[Newsmaker] Samsung heir may get promoted to chairman following father's passing
Speculation is growing over when Samsung Electronics Vice Chairman Lee Jae-yong would take the position of chairman in South Korea's largest conglomerate following his father's death, industry insiders said Tuesday, though the heir has already been recognized as the tech giant's de facto leader. His father and a longtime Samsung Group head, Lee Kun-hee, died Sunday at age 78, more than six years after being hospitalized for a heart attack. Jae-yong, the eldest scion and the only son of the l
Oct. 27, 2020
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Samsung Display wins US approval for panel shipment to Huawei: sources
Samsung Display Co., a major display panel maker in South Korea, has received approval from the US government to supply certain display products to Huawei Technologies Co., sources here said Tuesday, amid Washington's sanctions against the Chinese tech giant. Samsung Display recently acquired a license from the US Commerce Department to export some of its smartphone OLED displays to Huawei. Samsung Display is the world's largest smartphone OLED display supplier. The US started to impose new
Oct. 27, 2020
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LG Electronics to provide Electrolux with refrigerator icing tech
LG Electronics said Monday it has inked a license agreement with European electronics company Electrolux to provide its patented icing technology for French door refrigerators. French door refrigerators feature a twin-door design up top and a full-width freezer drawer at the bottom. With LG Electronics’ patented icing technology, Electrolux refrigerators will be able to make ice inside the upper fridge as well as inside the bottom freezer so that users won’t have to bend over whe
Oct. 26, 2020
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Hyundai Steel receives eco-friendly certification from Sweden
Hyundai Steel said Monday its steel plates have been given an Environmental Product Declaration certification from Sweden, which would help the company respond effectively to the rigorous environmental regulations of Europe and facilitate exports to the continent. An EPD is an independently verified and registered document that gives transparent and comparable information about what a product is made of and how it impacts the environment across its entire life cycle. Hyundai Steel received
Oct. 26, 2020
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Tributes pour in for Samsung chairman
Renowned figures from the business, political and diplomatic communities made visits to Samsung Medical Center on Monday to pay tribute to the late Samsung Group Chairman Lee Kun-hee. Starting with former and current executives of Samsung, hundreds of officials across industries, politicians, government officials and foreign ambassadors to South Korea mourned the loss of the Samsung chairman and recalled their memories of Lee. Former Samsung Electronics President Chang Choong-ki, one o
Oct. 26, 2020
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Theragen Bio, Macrogen, DNA Link picked for K-DNA pilot biz
A trilateral consortium comprising of Theragen Bio, Macrogen and DNA Link has been selected for the Korean government’s bio big data pilot business, the companies said Monday. The K-DNA big data establishment business is a project backed by the Ministries of Health, Science and Business to gather genomic information of 20,000 Koreans in the span of the next two years. The analysis of these genomic data will provide a basis for various bio health care businesses. Starting November, the
Oct. 26, 2020