Most Popular
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South Korean author Han Kang wins 2024 Nobel Prize in literature
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Korea added to key bond index
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North Korea notifies UN Command of plans to fortify border with South
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Will Apple quit smart ring race with Samsung?
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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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More deaths in ICU following doctors' mass walkout: lawmaker
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NewJeans’ Hanni to attend National Assembly audit as witness
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North Korea already cut off inter-Korean roads in Aug.: JCS chief
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Security issues to take center stage at ASEAN summit
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Doosan Enerbility shares jump on W2tr NuScale deal
Korean nuclear power plant builder Doosan Enerbility saw its shares soar more than 16 percent Monday following a news report that it is likely to secure over 2 trillion won ($1.46 billion) worth of orders for NuScale Power’s 50 trillion won small modular reactor project in the US. Its stock surged by 16.65 percent, closing at 21,300 won and reaching a 52-week high of 21,750 won during trading hours. Doosan Group’s stock also peaked at 218,500 won. The report suggests that NuScale Pow
May 27, 2024
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Business leaders eye trilateral consultative body to boost trade
Business leaders from Korea, Japan and China have announced plans to form a three-way economic consultative body among private sectors to effectively address pressing economic concerns and foster future cooperation among the three countries. Over 280 business leaders from the three countries attended the business summit Monday, shortly after the trilateral summit, including SK Group Chairman Chey Tae-won, also serving as KCCI chairman, Tokura Masakazu, chairman of the Japan Business Federation a
May 27, 2024
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LG debuts tumbler washer at Starbucks
LG Electronics said Monday it has launched its new “myCup” tumbler washer, with the first batches being installed at Starbucks stores here. In partnership with the Ministry of Environment and Starbucks Korea, LG developed the device to increase the use of reusable cups at the nation’s most popular specialty coffee chain. The “myCup” tumbler washer is based on LG’s Dios dishwasher technology. Customers are required to place their tumbler upside down in the wash
May 27, 2024
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Samsung Biologics to attend 2024 BIO International Convention next week
Samsung Biologics, one of the world’s largest contract and manufacturing organizations, said Monday that it will be participating in the upcoming 2024 BIO International Convention, the biopharmaceutical industry’s largest gathering of the year that kicks off in San Diego next week. This year, the event titled “Time for Science to Shine,” will be held on June 3-6 in the US, with some 1,500 companies joining from around the world. Taking part in the event for the 12th conse
May 27, 2024
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Korea’s EV investment in Georgia prompts more flights to Atlanta
South Korean companies’ growing investment in Georgia has led to increases in the number of flights and passengers traveling to Atlanta, the capital and most populous city in the state, according to industry sources Monday. “Delta Air Lines saw a significant increase in the number of business trips from Incheon to Atlanta and decided to deploy extra flights between the two cities,” said an official from Delta Air Lines' Korean office. Starting May 7, Delta Air Lines expand
May 27, 2024
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[Photo News] Tumbler washer at Starbucks
LG Electronics said Monday that its “myCup” tumbler washers have been installed at all Starbucks outlets nationwide as part of a partnership with the Ministry of Environment and Starbucks Korea. Based on LG’s Dios dishwasher technology, the tumbler washer offers two modes: a quick 30-second wash and a thorough wash course -- both using 65-degrees-Celsius hot water. (LG Electronics)
May 27, 2024
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Korea ushers in new space era with KASA launch
South Korea officially opened its first independent space-dedicated body, the Korea AeroSpace Administration, on Monday. “The role of KASA can be divided into four main sectors: establishing national aerospace policies, fostering talents while conducting R&D, promoting industry and international cooperation,” said Yoon Young-bin, chief of KASA and former aerospace engineering professor at Seoul National University, as he addressed his fellow officials in Sacheon, South Gyeongsang
May 27, 2024
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Innocean invites global execs to Seoul for cultural exchange, synergy
Innocean, the global marketing and communications arm of Hyundai Motor Group, said Monday that it invited a group of foreign executives working at its global operations to attend the Discovery 2024 leadership program held in Seoul last week. A total of 26 executives from 18 countries, including the US, Canada, Germany, the UK, Australia, India and Thailand, participated in the five-day program that allows them to experience Korean corporate culture and share keen insights. After five years of pa
May 27, 2024
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[Photo News] Samsung chief meets Chinese premier
Samsung Electronics Chairman Lee Jae-yong met Chinese Premier Li Qiang in Shilla Seoul on Sunday. During their meeting, Lee expressed gratitude for the Chinese government's support for Samsung affiliates during the COVID-19 crisis, including exempting them from the lockdown measures. Saying the cooperation between Samsung and China represented the Korea-China relationship in microcosm, Li encouraged the tech giant to further investment in his country. Li, traveling to Seoul to attend the Ko
May 26, 2024
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[Africa Forum] Korea ready to support Africa’s FDI push
African ambassadors and Korean trade experts explored the economic potential of bilateral ties between Korea and Africa during the Africa Day Business Forum, co-hosted by The Korea Herald and the African Group of Ambassadors in Seoul on Thursday. In a panel discussion mediated by Tunisian Ambassador to Korea Kais Darragi, they discussed ways to attract more investment into African countries. Hong Soon-young, vice president of the Export-Import Bank of Korea, urged African nations to go all-out t
May 26, 2024
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Banks to resume compensation talks for ELS losses
Major local banks are expediting compensation procedures for losses tied to Hong Kong-linked derivative products, with some poised to distribute payments this week. KB Kookmin Bank, the largest seller of equity-linked securities tracking the troubled Hang Seng China Enterprises Index, will officially begin negotiations for voluntary compensation with clients starting Monday, an official from the bank said Sunday. The bank plans to address accounts based on their order of maturation, starting wit
May 26, 2024
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Hyundai Steel sharpens edge to ride out tough market
As the construction industry grapples with years of high interest rates, rising raw material costs and increased risks associated with real estate project financing, Korea's second-largest steelmaker, Hyundai Steel, has been diversifying their businesses to enhance profitability and discover new demand. As part of this initiative, the steelmaker has signed a joint research and development agreement for steel structure refractory methods in partnership with Hyundai Engineering, KCC and the K
May 26, 2024
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Ottogi heir joins family business in US
South Korean food company Ottogi family's third-generation member Ham Yon-ji, 32, has recently joined Ottogi, after appearing in public for years as a musical actor and a YouTuber, according to industry sources Friday. As the daughter of Ottogi Chairman Ham Young-joon, Ham officially joined Ottogi America, a US subsidiary of Ottogi, this month and is reportedly working in the marketing division following an internship at the company. Ham graduated from New York University's Tisch Scho
May 24, 2024
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HD Hyundai and Shell to collaborate on next-gen liquefied hydrogen carriers
HD Hyundai announced Friday a partnership with Shell to advance liquefied hydrogen (LH2) transportation technologies. HD Korea Shipbuilding & Offshore Engineering and HD Hyundai Heavy Industries, both integral parts of HD Hyundai's shipbuilding division, have signed a joint development agreement with Shell International Trading and Shipping Company Ltd. The agreement was signed at the HD Hyundai Global Research and Development Center in Gyeonggi Province. Executives in attendance incl
May 24, 2024
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Posco’s steel technology brings aesthetics to cultural heritage restoration
Posco has harnessed its cutting-edge steel technology in the delicate task of South Korean cultural heritage restoration, transforming conventional sites in Seoul into vibrant spaces of public art and relaxation. At the heart of this project is PosART, or Posco Advanced Resolution printing Technology. It is an innovative steel sheet developed from PosMAC, or Posco Magnesium Alloy Coating Product, Posco’s proprietary corrosion-resistant steel. PosART also boasts the ability to render vivi
May 24, 2024
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Celltrion's Omlyclo gets EU nod as first Xolair biosimilar
Korean biosimilar giant Celltrion announced Thursday that its anti-IgE antibody biosimilar Omlyclo has been approved in Europe, after a series of clinical trials with the reference product Novartis' Xolair. Omlyclo, also called by project name CT-P39, received formal product approval from the European Commission on Tuesday, approximately two months after receiving the initial approval recommendation from the Committee for Medicinal Products for Human Use under the European Medicines Agenc
May 24, 2024
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[From the Scene] Korean Air's new operations center highlights full commitment to safety
GIMPO, Gyeonggi Province -- Korean Air has unveiled its newly revamped Operations and Customer Center after 23 years, emphasizing the airline's increased focus on risk management in light of variables such as the merger with Asiana Airlines and the introduction of newer aircraft. "Air operations are possible only when real-time communications, from transportation to operation to cabin maintenance, are smoothly organized and seamlessly prepared," said Korean Air President Woo Kee-h
May 23, 2024
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South Korea unveils W26tr support program for chip industry
South Korean President Yoon Suk Yeol on Thursday unveiled a national support program worth 26 trillion won ($19 billion) to boost the country's semiconductor industry, in a move to up its game amid the global competition. The comprehensive chip support package includes financial programs, research and development strategies and infrastructure support. But it came short of direct subsidies which industry players here have been requesting to compete with international rivals. "With tax c
May 23, 2024
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[Photo News] Green heroes honored
The winners of this year’s H.eco Awards pose for a group photo with Choi Jin-young, president of Herald Media Group, the organizer of the annual award and the H.eco Forum, during an award ceremony held at Some Sevit, Seoul, Wednesday. From left: Choi, and the four award winners Jung Ju-yeon, founder and executive director of Wear Again; Jin Gwan-woo, founder of Soom-Tan-Geot-Deul; Byeon Su-bin, president of Diphda Jeju; Julian Quintart, a goodwill ambassador for EU Climate Actions. Also
May 22, 2024
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Hyundai Rotem, STX sign $60m armored vehicle deal with Peru
Korean defense company Hyundai Rotem and trading firm STX signed a $60 million contract with Fabrica de Armas y Municiones del Ejercito SAC, the Peruvian state arms procurement agency, to export K-808 White Tiger wheeled armored vehicles. It is Korea's first export of armored vehicles to Latin America, according to Hyundai Rotem on Wednesday. Under the contract, Hyundai Rotem and STX will supply 30 units of K-808 vehicles to Peru by the end of 2024. Hyundai Rotem will be responsible for pro
May 22, 2024