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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Seoulites celebrate coexistence at Wellness Seoul 2024
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Ex-president's daughter investigated for drunk driving accident
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Yoon honors veterans of Korean War in trip to Philippines
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'Culinary Class Wars' producers deny trying to spice up results
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[Monitor] Gap in preference between large and small firms remains large
The general perception of small and mid-sized businesses remained negative compared to that of large conglomerates, according to a survey conducted by the Korea Federation of Small and Medium Business. Out of a total 100 points, a preference for SMEs came in at 52.6 points, compared to 75.5 points for conglomerates. By category, the lowest points were given to working conditions of SMEs. But 52.6 percent of the respondents also said their perception towards the smaller businesses have improv
Sept. 3, 2020
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Posco discusses survival strategies after COVID-19
Korea’s largest steelmaker Posco on Wednesday opened its two-day 2020 Posco Forum to diagnose the fast-changing business environment and assess the group’s future business strategies. According to the company, the livestreamed forum was organized with a limited number of in-person participants, including the presidents of Posco and affiliate companies in the Greater Seoul region alongside experts, following the strengthened social distancing measures amid the COVID-19 pandemic. &
Sept. 2, 2020
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[News Focus] SK Group marches toward ‘deep change’
South Korea’s No.2 conglomerate SK Group had 125 companies as of May, more than any other conglomerate in the country. But under Chairman Chey Tae-won’s command, the group appears to have finally decided which branches to trim, and which seeds to sow, so that the whole field can flourish. Through Chey’s “deep change” initiative, SK Group plans to liquidate its gas and lubricants businesses -- which guarantee stable profits but with little growth potential -- an
Sept. 2, 2020
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Kumho Petrochemical puts environment, safety as top priorities for 2020
Kumho Petrochemical said Wednesday the company and its affiliates are putting more emphasis on business management based on environment and safety in response to stricter environmental regulations. According to the world’s No.1 NB latex manufacturer, it has pursued a rigorous campaign to respond to environmental regulations and will take further measures such as upgrading air pollutants reduction facilities and curbing greenhouse gas emissions. As for safety, Kumho Petrochemical&rsqu
Sept. 2, 2020
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Booyoung provides scholarships for international students
Woojung Education & Culture Foundation established by Booyoung Group is set to provide scholarships for international students for the second semester of this year, the group said Wednesday. The foundation decided to grant about 380 million won ($320,215) in scholarships to 96 foreign students studying in Korea. They are from 38 countries, including Vietnam, Bangladesh, Uzbekistan, and Cambodia. The scholarships will be provided without holding any ceremonies to prevent the spread of coro
Sept. 2, 2020
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[Monitor] Corporate hiring dives to 11-year low
The number of new employment planned by companies in South Korea during the second and third quarters this year dropped to the lowest in 11 years, according to the Employment and Labor Ministry. The planned size of hiring is the smallest since the first quarter of 2009, when the figure had dropped to 208,000 due to the global financial crisis. The crunch in the job market has been largely anticipated with the on-going COVID-19 pandemic that has led to delayed school openings, closings of p
Sept. 2, 2020
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[Herald Interview] By turning biomass into fuel, 4EN eyes to become impact unicorn
4EN is a South Korean startup with an ambition to become Asia’s largest greenhouse gas reduction initiative. The company aims to tackle the climate change problem using sustainable businesses ideas such as mitigating greenhouse gases and reducing toxic agricultural by-products, produces solid fuel, organic fertilizers, and bioplastic from coffee grounds and agricultural by-products, such as peanut shells. Up until a few years ago, the 9-year-old company was best-known for coff
Sept. 1, 2020
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[Herald Interview] 'Eco-friendly initiatives now present corporate opportunities'
At a forum held in Jeongseon last month, Kang Tae-sun, founder and CEO of leisure clothing brand BYN Black Yak Korea, showed off the company’s new black shirts, which have been made in Gangwon Province. “We made this T-shirt from recycled plastic bottles carefully collected in Gangwon to help the province reduce its environmental impact and encourage customers to become more comfortable using products made from harmless recycled materials, such as these,” Kang said. “I
Sept. 1, 2020
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[Herald Interview] Environment activist sees future in eco-smart city
The Leonardo DiCaprio environmental movie awards are one of Choi Yeol’s current ambitions. As a prominent South Korean environmental activist who leads the Environment Foundation, Choi, who is a big believer of cultural ripple effects, has already carried out several movie events and exhibitions to promote environmental awareness. His interests in the cultural movement and international collaboration are not coincidental. He believes that climate change is the most pressing environmental
Sept. 1, 2020
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Unity develops system to automatically create multiple versions of single game
Unity said Tuesday it has officially launched Unity Distribution Portal, which allows developers to create a single version of a game that can be published in multiple app stores. According to Unity Technologies Korea, UDP is capable of automatically creating different versions of a single game that can meet software requirements of each app store, saving developers a substantial amount of time when publishing in multiple app stores. “Previously, developers had to create different ver
Sept. 1, 2020
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Korea’s electricity sales to dip similar to during 1998 financial crisis
Due to the prolonged coronavirus outbreak, South Korea’s electricity sales are projected to shrink 3.3 percent this year compared to a year prior, signaling the worst retreat in demand since 1998, according to a research body under Korea Electric Power Corp. on Tuesday. Kepco Management Research Institute said Kepco’s electricity sales volume this year is expected to suffer a negative growth of 1.8 to 3.3 percent on-year, its second-worst figure next to minus 3.6 percent in 1998
Sept. 1, 2020
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[KH Explains] How effective are antimicrobial films on elevator buttons?
Transparent film covering surfaces in public areas such as elevator buttons have become a common sight in South Korea throughout the COVID-19 crisis. Containing ionized copper, these films assert to be antimicrobial and effective at deflecting fomite transmission of SARS CoV-2 virus. The films have become nearly imperative for people as they go about their lives pressing elevator buttons, pushing grocery shopping carts or tapping automated kiosks at take-out restaurants. The Seoul Housing &a
Sept. 1, 2020
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Chong Kun Dang proceeds to phase 2 trial in Russia to treat COVID-19
Chong Kun Dang’s anticoagulant and acute pancreatitis treatment Nafabeltan (nafamostat) is to undergo a clinical phase two trial in Russia repositioned as a potential COVID-19 treatment, CKD said Tuesday. Nafabeltan is a white substance that has to be dissolved into an injectable solution for administration. According to CKD, Russia’s Drug Ministry approved of its clinical phase two trial design targeting some 100 seriously afflicted COVID-19 pneumonic patients there. The patients
Sept. 1, 2020
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[Herald Interview] GI Innovation steadies IPO for 2021
GI Innovation is a fusion protein novel drug discovery firm that has made two license-out deals that are worth a combined $1.99 billion, just three years since its foundation. This feat for a small biotech comprising 50 employees has pinned GI Innovation as the next big catch in the health care sector after SK Biopharmaceuticals’ record-breaking initial public offering in June, which was 323 times oversubscribed. GI Innovation’s stock market listing on Kosdaq was previously antici
Sept. 1, 2020
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Daesung chairman receives honorary doctorate from KAIST
Daesung Group Chairman Younghoon David Kim received an honorary doctorate in science and technology from the Korea Advanced Institute of Science and Technology, the firm said Tuesday. Kim received the honorary doctorate at the 2020 online graduation ceremony held at KAIST in Daejeon on Friday in recognition of his contributions to the development of the nation‘s economy through corporate management over the past two decades. Kim has been taking part in diverse international activities
Sept. 1, 2020
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Samsung Heavy’s LNG liquefaction technology certified by ABS
Samsung Heavy Industries said Tuesday it obtained a detailed design approval from the US ship classification organization American Bureau of Shipping for its natural gas liquefaction cycle technology, the first in the shipbuilding industry. The shipbuilder said, upon the approval, it can save costs for the payment of technology fees and the restrictions on selecting equipment by breaking away from the dependence of overseas engineering companies that have original technologies. Natural gas
Sept. 1, 2020
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[Monitor] Much of COVID-19 emergency funds used at restaurants
A report by the Korea Food Service Industry Association showed that the use of emergency funds doled out by the government in May in the midst of COVID-19 pandemic was largest at restaurants. Although the funds were largely used at restaurants, the industry also the most vulnerable to the change in the number of moving population, the report added. (khnews@heraldcorp.com)
Sept. 1, 2020
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Hanwha skyscraper enjoys international exposure on MTV thanks to BTS
Hanwha Group’s skyscraper 63 Square, more commonly known as 63 Building, made a cameo appearance with BTS at the MTV Video Music Awards on Sunday. During the septet’s performance of their new single “Dynamite,” Seoul’s landmarks stood tall in the backdrop alongside a display of fireworks over what appears to be the Han River. “Shining through the city with a little funk and soul,” bandmate Jin belted out the last round of the chorus as the conglomerate
Aug. 31, 2020
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KOTRA undertakes digital transformations for local, foreign businesses
Korea Trade-Investment Promotion Agency (KOTRA) announced Monday that it would push digital transformation to provide quality services to local and foreign businesses. The agency said it would bring digital transformation into a wide range of tasks it manages. According to KOTRA, its customers can now easily access various types of market data that it has collected from its 125 offices in 82 different nations around the globe. The agency said the big data collected in different nations would
Aug. 31, 2020
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Stronger ad rules begin for social media stars in Korea
Reinforced rules by South Korea’s antitrust regulator began to take effect Tuesday to prevent social media influencers from advertising products without telling viewers of their business ties with corporate sponsors. According to the Fair Trade Commission’s guidelines, the online streamers and social media influencers should explicitly disclose their business ties when they are provided with financial means to produce promotional posts or videos. The FTC said it revised old guidel
Aug. 31, 2020