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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First lady’s Dior bag scandal to be at center of Assembly audit
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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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'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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[News Analysis] Will trade relations change under new Japanese PM?
As Yoshihide Suga, Japan’s chief Cabinet secretary and front-runner to replace outgoing Prime Minister Shinzo Abe, is seen as likely to carry forward his predecessor’s hard-line stance on South Korea, it is difficult to expect a major change in the strained trade relations between the two countries, experts say. Japan’s ruling Liberal Democratic Party is to hold a leadership election on Monday. Suga is estimated to have secured more than 70 percent of the party’s parlia
Sept. 10, 2020
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[Monitor] Dependence on coal to drop 0.7% yearly: report
Dependence on coal is expected to decrease by an average of 0.7 percent per year, a report by the Korea Energy Economics Institute said Wednesday. By 2024, the consumption proportion of coal is forecast to drop below 25 percent, it said. While demand for industrial coal in making steel will increase somewhat post-COVID19 as the world economy turns to recovery, demand from other sectors such as in cement manufacturing is expected to continue to decrease, the report said. Coal-fired electrici
Sept. 10, 2020
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[Herald Interview] Beverages legend bets on health drinks, overseas markets
“I’m very excited about this year, which will be the first year our beverage has truly made a foray into the US market,” Jo Un-ho, CEO of Hite Jinro Beverage, said in a recent interview. Hite Jinro Beverage is a subsidiary of Korea’s leading liquor conglomerate Hite Jinro and produces the group’s nonalcoholic drinks, including purified water and various tea products. This year, the company extended its market by adding US grocery chain Trader Joe’s as a ne
Sept. 9, 2020
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KITA establishes testbed in US to support Korean startups
The Korea International Trade Association said Wednesday it has partnered with Startup Junkie, a US-based venture catalyst and entrepreneurial support organization, to help Korean startups test their technologies and products overseas. According to KITA, it signed a memorandum of understanding Friday with Gangnam-gu Office, Korea Venture Business Association and Startup Junkie that will allow consumer goods companies in the US to test and verify technologies and products of Korean startups.
Sept. 9, 2020
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KCCI chief helps AI drones fly over regulatory hurdles
Korea Chamber of Commerce and Industry Chairman Park Yong-maan said Wednesday that the organization has managed to receive a greenlight from the government to test artificial intelligence-based drones in the skies above Busan and Daegu. The chairman on Wednesday uploaded a video to his Facebook account, explaining that the KCCI has won a regulatory sandbox approval for AI drones to inspect the safety of bridges and tall buildings in the two cities after a three-month long negotiation between
Sept. 9, 2020
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Philip Morris aims to acquire ‘risk modification’ nod from FDA
Philip Morris Korea on Wednesday called on the government to introduce separate regulations for heat-not-burn cigarettes, as it touted the latest authorization by the US Food and Drug Administration of its Iqos brand. The FDA decided in July to authorize the marketing of the company’s electronically heated tobacco system as a type of modified risk tobacco product in an industry first. There are two types of MRTP orders the FDA may issue: a “risk modification” order or an &ldq
Sept. 9, 2020
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GC Pharma’s Hunterase approved in China
GC Pharma’s Hunter syndrome treatment Hunterase has been approved by the Chinese drug authority, the company said Wednesday. Hunterase is indicated for long-term treatment for Hunter syndrome, and is the first of its kind to be officially approved for use by China’s National Medical Products Administration. CANBridge Pharmaceuticals is responsible for the distribution of Hunterase in China, and is expected to gradually widen the scope to Taiwan, Hong Kong and adjacent regions. Hu
Sept. 9, 2020
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FTC takes aim at Google’s OS monopoly
South Korea’s antitrust watchdog has set out to determine whether Google’s monopoly on mobile operating systems and app markets blocks the emergence of rival OSs and app markets. “Currently, the regulator is focusing its investigation on whether operators who dominate the mobile OS market obstructed the production of devices equipped with rival OS, or by forcing app developers to exclusively launch their apps on its app markets,” Fair Trade Commission Chairperson Joh S
Sept. 9, 2020
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LG Electronics expands software testing capability
LG Electronics Inc. said Tuesday that it has been recognized as an international certification institute to test the functional safety of software systems. LG said Tuesday its software testing center was accredited by the Korea Laboratory Accreditation Scheme as an institute to verify the IEC 61508-3 standard. IEC 61508-3 focuses on the functionality safety of software to make sure no errors occur in electronic products or systems. LG can now issue a certificate proving software meets IEC
Sept. 8, 2020
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Statistical model to predict Chuseok’s impact on pandemic
The South Korean Ministry of Science and ICT and the National Institute for Mathematical Sciences are planning to conduct computational research to determine the scope of a potential COVID-19 spike if Koreans go ahead with their typical cross-country movements during the Chuseok holidays at the end of September. “We are in the process of devising how to model the calculations. We anticipate to have the results of this research by Sept. 23,” a Science Ministry official told The Korea
Sept. 8, 2020
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Samsung to manufacture Qualcomm chips for 5G smartphones: sources
Samsung Electronics Co. has reportedly secured an order to manufacture Qualcomm Technologies Inc.'s mobile application processor (AP) for 5G budget smartphones, industry sources said Tuesday, as the South Korean tech giant eyes boosting its presence in the foundry industry. Samsung is likely to be a producer of the 5G version of Qualcomm's Snapdragon 4-series processors that are expected to be available on the market next year, according to the sources. Handset makers, like Xiaomi, Oppo and
Sept. 8, 2020
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[News Focus] Korea lags behind OECD average in demand for mobile broadband
SEJONG -- For the first time in history, last year consumer demand for mobile broadband services in South Korea fell short of the average level for members of the Organization for Economic Cooperation and Development. According to the Paris-based organization, subscriptions to mobile broadband, also called wireless high-speed internet, stood at 113.6 per 100 people in Korea as of December 2019, having inched up from 113.5 per 100 people the previous June. In contrast, the average for the 37-m
Sept. 8, 2020
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Mercedes-Benz Korea launches fourth vocational training program
Mercedes-Benz Korea said Tuesday that its fourth Ausbildung, a German vocational training program, began early this month. The online kickoff ceremony held Monday was attended by around 70 people, including Kim Jee-seop, interim president and CEO of Mercedes-Benz Korea, Susanne Wohrle, vice president of the Korean-German Chamber of Commerce and Industry, 18 newly selected trainees and 16 professional trainers. The fourth Ausbildung, which began Sept. 1, involves 18 senior high school student
Sept. 8, 2020
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[Monitor] Women still feel discriminated against at work, companies disagree
A recent survey showed that while the majority of women workers in South Korea felt they were discriminated against to some degree at work, most of those in charge of human resources felt there was no prejudice. According to the survey conducted with 300 women and 300 HR managers by the Korea Chamber of Commerce and Industry, 71 percent of women said they felt they were disadvantaged against their male peers at work. In comparison, 81 percent of HR managers said there was no discrimination. Sp
Sept. 8, 2020
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GIG, Total, HHI team up for offshore wind project in Ulsan
Top executives of Green Investment Group, Total and Hyundai Heavy Industries on Monday held a webinar to exchange ideas on how to cooperate regarding 1.5 gigawatts of floating offshore wind projects in Ulsan. GIG, a UK investment entity focused on green transition, and Total, a French oil and gas company, are set to co-develop the offshore wind power farms near the city. Ulsan Mayor Song Cheol-ho hosted the webinar, attended by GIG global head Mark Dooley, Total Senior Vice President Julien
Sept. 7, 2020
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Eastar to cut half of employees for new deal
Embattled Eastar Jet Co. said Monday it will reduce its workforce by more than half as part of efforts to find a new investor after Jeju Air Co. scrapped its plan to acquire the smaller budget carrier amid the coronavirus pandemic. Eastar plans to lay off 640 workers, or 53 percent, of its 1,216 employees on Oct. 14 before it begins the process of finding a new investor, Eastar Senior Vice President Kim You-sang said over the phone. "Our lead managers and two private equity funds (that h
Sept. 7, 2020
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SK Innovation pushes for 3rd EV battery plant in Hungary
SK Innovation Co., a South Korean refining-to-battery conglomerate, is pushing for its third battery plant in Hungary, people familiar with the issue said Monday. SK Innovation has begun a process of selecting subcontractors for the construction of the proposed plant, they said. SK Innovation denied that the selection process has begun, saying no decision has been made in regard to the third Hungarian plant. "We have just concluded that there is a need for further investments to prepare
Sept. 7, 2020
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Samsung to close TV factory in China
Samsung Electronics Co. will close its TV manufacturing plant in Tianjin, China, sources here said Monday, as the company tries to boost efficiency in its supply chain management. The South Korean tech giant plans to cease operations at its sole TV plant in China from end-November, according to the sources. The plant has some 300 workers. A Samsung official said the decision is part of its efforts to improve efficiency at its production bases worldwide amid fierce competition in the indus
Sept. 7, 2020
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McDonald’s receives PM commendation for environmental efforts
McDonald’s Korea has received the Prime Minister’s Commendation award for eco-friendly business operation, the company said Monday. The fast food chain received the award for its efforts to reduce the use of plastics and switch to more eco-friendly packaging. In May, the company ditched plastic lids for its ice cream McFlurry and it continues to introduce electric motorcycles for its McDelivery service to reduce greenhouse gas emissions. The award was granted on the 12th anniversa
Sept. 7, 2020
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Pandemic drives down overseas sales in Q2
South Korea’s top 100 companies by revenue saw overseas sales drop 19.8 percent in the second quarter year-on-year due to the global economic downturn caused by the pandemic, data showed Monday. According to the Federation of Korean Industries, which analyzed the disclosure data of the nation’s 100 largest companies, their overseas sales declined 19.8 percent to 146.3 trillion won ($123 billion) in the April-June period from a year earlier. This is compared with the first quarter
Sept. 7, 2020