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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Yoon set for talks with Marcos in Philippines
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Can Jennie break the K-pop solo artist slump?
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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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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Yoon honors veterans of Korean War in trip to Philippines
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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[KH Explains] Can G-Star level up?
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Conglomerates post sharp fall in operating profit, investment
Major South Korean companies saw their operating profit fall to half in 2019 on-year and have cut their investments by more than 10 percent, amid the worsening global economic crisis, according to a local corporate tracker Wednesday. CEOScore analyzed the financial records of 358 affiliates of Korea’s conglomerates -- with more than 10 trillion won ($8.2 billion) in assets -- submitted to the Financial Supervisory Service. Booyoung Group, GM Korea and Jungheung Construction were exclud
April 1, 2020
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Korea’s exports hold up despite virus, for now
South Korea’s exports in March managed to stabilize, although the fall in export prices and lowering overall sentiment portend a drop amid the worldwide COVID-19 pandemic, according to the Trade Ministry on Wednesday. The nation’s exports reached $46.9 billion, down 0.2 percent from a year ago. Export prices went down by 11.7 percent on-year, while the amount of outbound shipments went up by 13.1 percent, the largest leap in the last 17 months. Export prices of oil products, for i
April 1, 2020
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[Graphic News] S. Korean exports to China perk up in March
South Korean exports to China are picking up in March as the new coronavirus retreats in the neighboring country, data showed. Daily exports to the world’s second-largest economy averaged $436 million during the first 10 days of this month, up 20.8 percent from the same period in February, according to the data from government and industry sources. Yet the daily average was down 8.2 percent from the same period a year earlier. Daily exports to China soared to $530 million in the
March 31, 2020
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[Video] When will social distancing end? Messages from around the world
When will social distancing end? Is there light at the end of this tunnel of “stay-at-home and postpone-your-weddings” while listening to news about rising mortality? As this prolonged period of COVID-19 outbreak chips away at our morale, global neighbors from hard-hit regions of Iran, Italy, Germany, the UK, the US and Mexico came together to share how they are getting through this time. (Yoga and Animal Crossing, anyone?) Meet in this video Hamed Soleimanzadeh (@hamedsoleimanzade
March 31, 2020
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GemVax & Kael expands GV1001 patent to cover COVID-19
South Korean biologics company GemVax & Kael said Tuesday it will expand its antiviral pipeline’s treatment scope to cover COVID-19. GemVax’s GV1001 is a telomerase-derived peptide that helps maintain the length of telomere, which is located at the end of human chromosome. Telomere acts as anti-inflammation, antioxidant, anti-aging and stem cell activation agent, effectively preventing cytokine storm. A cytokine storm is increasingly being recognized as the leading cause of COV
March 31, 2020
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Samsung Display pulls plug on LCD production
Samsung Display is planning to pull the plug on its liquid-crystal display business, which has been reeling from Chinese manufacturers’ low-priced large-volume cargo, according to industry sources Tuesday. The display unit of Samsung Group will reportedly close its seventh-generation and eighth-generation LCD manufacturing lines in South Korea and Xuzhou, China, in the first half of 2021. Currently, it manufactures 165,000 seventh-generation and 363,000 eighth-generation displays per mo
March 31, 2020
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COVID-19 crisis shakes up brand value ranking
Brand value rankings of companies in South Korea are facing an upheaval as the COVID-19 crisis is greatly influencing the consumption patterns, a local poll showed Tuesday. According to the BrandStock Top Index of Brandstock, e-commerce platform operators are seeing a boost in their value, reflecting the increased amount of time people are spending at home, due to social distancing and remote working. Leading e-commerce platform Coupang witnessed its rank jump from No. 54 at the end last ye
March 31, 2020
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Demand for Isu Chemical’s ingredient spikes in Europe
Domestic chemical firm Isu Chemical said Tuesday it is ramping up production of a hand sanitizer ingredient as demand is soaring in Europe. The company manufactures isopropyl alcohol -- a vital ingredient for hand gels and alcohol wipes -- as the stocks of the IPA are running low amid the worsening COVID-19 outbreak. “Isu Chemical has already got marketing approval in the European Union, so there is no issue with sales in the region,” a company official said. “Though faci
March 31, 2020
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Hyundai E&C to open sales of premium residences in Daegu
Hyundai Engineering and Construction said Tuesday it will open sales of 1,150 high-quality residential units in Daegu, Gyeongsang Province. The new residential complex, named Hillstate Dowon Central, consists of five 49-story high-rises located near Dalseong Park Station in Junggu, central Daegu. The Junggu area is expected to offer new 11,000 housing units in the future, attracting potential buyers with the location’s proximity to social and commercial infrastructures, including dep
March 31, 2020
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SK hynix’s non-memory sales increase, while overall sales dip
SK hynix’s said Monday its non-memory semiconductor sales marked a 1.5-fold increase last year, while sales of memory products decreased by 33 percent on-year. The DRAM sales of SK hynix marked 20.3 trillion won ($16.6 billion), down 37 percent from a year earlier, while sales of NAND flash reached 5.1 trillion won, down 31 percent. The sales of SK hynix’s non-memory business, however, increased by 139 percent to reach 1.6 trillion won last year, from 650 billion won in 2018. Of
March 31, 2020
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LG donates 50,000 coronavirus test kits to Indonesia
LG Group said Tuesday its four affiliates -- LG Electronics, LG Chem, LG Innotek and LG International Corp. -- have donated 50,000 coronavirus test kits to the Indonesian government. The donation was made in response to a request by the country, which lacks diagnostic kits due to the surge in COVID-19 cases, and to contribute to overcoming international difficulties caused by the infectious disease, the group said. Supplies of some diagnostic kits to the Indonesian National Board for Dis
March 31, 2020
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Nexon aims to bring gaming to stock exchange platform
Nexon’s holding company NXC said Monday it is developing an online trading platform in the form of a game, targeting young people held back by the complexity of conventional systems. The company has established a subsidiary Arques, to develop a friendly trading platform with a user interface of tycoon games for Generation MZ -- millennials and Gen Z -- who are discouraged by intricate systems despite their deep interest in investments. “Arques aims to develop a service where use
March 31, 2020
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OCI delivers lunch boxes to locals hit by coronavirus outbreak
South Korean chemicals firm OCI said Monday it has launched a lunch box campaign for five days to support the socially vulnerable amid the coronavirus crisis. The company said its Pohang plant in North Gyeongbuk Province has started delivering lunch boxes to support the elderly people and the underprivileged in local areas from March 30 to April 3 as free community meals have been unavailable due to the COVID-19 outbreak. With voluntary donations made by the employees of Pohang plant and wi
March 31, 2020
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Korea should prepare for stronger US protectionist trade policies: report
South Korean companies should keep a close eye on the protectionist trade policies in the US as President Donald Trump is expected to raise trade barriers there ahead of the November presidential election amid the worldwide spread of coronavirus, a local trade association said Tuesday. The Korea International Trade Association’s new report said the coronavirus pandemic has emerged as an important variable in the Trump administration’s trade policy and the US presidential election
March 31, 2020
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[News Focus] Winter Olympics scheduled 6 months after Summer Olympics
SEJONG -- Since 1994, the world’s four biggest, quadrennial sports games have been held in pairs on even-number years – the Summer Olympics and the UEFA Euros on one year, with the FIFA World Cup and the Winter Olympics two years later. And none of these events has been held on an odd-number year for more than a century since 1896. International sports fans had been eagerly waiting for the Euro 2020 (also called the European Football Championship) and the 2020 Tokyo Summer Ol
March 31, 2020
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Lotte chairman highest-paid exec in S. Korea in 2019
Lotte Group Chairman Shin Dong-bin ranked as the highest-paid corporate executive in South Korea last year, industry data showed Monday. Shin topped the list by receiving 18.18 billion won ($14.78 million) in wages from seven group companies, including Lotte Shopping Co., according to the companies' public disclosures. Lotte is the nation's fifth largest business group. He was the highest salary earner in 2017 with 15.2 billion won, but his compensation nearly halved the following year
March 31, 2020
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Employee at Samsung's chip plant tests positive for coronavirus
A n employee at Samsung Electronics Co.'s chip production line in Yongin, south of Seoul, was confirmed to have contracted the novel coronavirus on Monday, a local government said. The worker in his 20s first showed symptoms of the COVID-19 virus last week and took a test on Sunday, according to the city government of Hwaseong, where he resides. After the result came out Monday, he was taken to a hospital and the authorities are tracing his contacts. Th
March 31, 2020
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Solgent moves to meet global RT-PCR kit demands
COVID-19 real-time PCR diagnostic kit manufacturer Solgent is working to meet rising global demands, the company said Monday. Solgent is genome precision medicine company Eone Diagnomics (EDGC)’s affiliate that is currently at its full capacity churning out 3,000 kits per week. With one kit, 100 people can test whether or not they are infected with the novel coronavirus. Over 20 nations are requesting Solgent to export its independently developed DiaPlexQ Novel Coronavirus Detection Kit
March 30, 2020
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[Monitor] Korea’s consumer sentiment falls to 10-year low
South Korea’s consumer sentiment fell to the lowest level in more than a decade in March, affected by the continued spread of the COVID-19, data from the Bank of Korea showed last week. The composite consumer sentiment index reached 78.4 this month, a drop by 18.5 points and the lowest since March 2009. Consumer sentiment toward the current economic conditions plunged 28 points to 38, according to a subindex, also the lowest since March 2009. (khnews@heraldcorp.com)
March 30, 2020
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Posco Chemical invests W217.7b for EV materials facility
Posco Chemical said Monday it will invest 217.7 billion won ($178 million) to produce key materials for electric vehicle batteries. According to the company, its board of directors has approved the investment to construct a production facility for synthetic graphite anode for EV batteries. “Demand for synthetic graphite anodes for EV batteries is expected to spike as the market size is expected to grow from 194 GWh in 2020 to 3,066 GWh in 2030. It’s essential to be equipped wit
March 30, 2020