Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Yoon set for talks with Marcos in Philippines
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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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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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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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First lady’s Dior bag scandal to be at center of Assembly audit
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Firefighters’ 3,000 won meals spark nutrition concerns
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Exports of processed rice goods up 20% in 2019
South Korea's outbound shipments of processed rice products shot up last year amid the booming popularity of Korean dramas, K-pop and other cultural assets abroad, data showed Thursday.Exports of these products reached $106 million in 2019, marking a sharp rise from $89 million posted a year earlier, according to the Ministry of Agriculture, Food and Rural Affairs.It also nearly doubled from $55 million posted in 2015. These products cover a wide range of foodstuff, such as snacks, noodles, drin
Jan. 16, 2020
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Kora's auto exports down 1.9% in 2019 amid slowdown
South Korea's auto exports moved down 1.9 percent in 2019 from a year earlier amid a global economic slowdown and a lack of new models from local producers, data showed Friday. South Korean carmakers shipped a combined 2.4 million units overseas last year, compared with 2.45 million units a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. In terms of value, auto exports moved up 5.3 percent on increasing popularity of high-end cars, including eco-friend
Jan. 16, 2020
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SKT eyes cooperation with Microsoft on Xbox game development
SK Telecom Co., South Korea's top mobile carrier, said Wednesday it aims to expand cooperation with Microsoft Corp. on console games.SKT said it plans to support the development of games for Xbox, a home video game console manufactured by Microsoft, by boosting investment and marketing activities. To initiate the move, SKT said it participated in Microsoft's first Xbox Discovery Day event in Seoul. The event is a seminar organized by Microsoft for game developers and officials in the gamin
Jan. 15, 2020
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Baedal Minjok labor union fights to work longer
Woowa Youngmen, the operator of Baemin Riders -- a platform connecting restaurants and delivery drivers -- is facing opposition against its announcement to limit the weekly working hours of its delivery workers.Woowa Youngmens is a subsidiary of Woowa Brothers, the operator of Korea’s No. 1 food delivery application by market share. On Friday, it released a new work guideline, “2060 policy to prevent overworking,” to limit the workhours of drivers for Baemin Riders to 60 hours
Jan. 15, 2020
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Why going small is going big for Samsung Biologics
SAN FRANCISCO -- It may not be music to the ears of small and medium-sized contract manufacturing organizations, but Samsung Biologics said Tuesday it plans to expand its current business to cover smaller volumes. “We decided to add sCMO to our service for client satisfaction, to keep providing support to our contract development clients who need small batches of drug substance for their subsequent clinical phase one trials,” said Regina Choi-Rivera, head of the sCMO business unit at
Jan. 15, 2020
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LG Electronics to open robotics lab in Boston
LG Electronics Inc. said Wednesday it will open a robotics lab in the United States to boost its competitiveness in bot technologies. LG's new robotics lab, set to open later this month in Boston, will allow its researchers to better check the latest robotics technologies. To beef up its robotics research, LG will also collaborate with Kim Sang-bae, a renowned robot scientist and a Massachusetts Institute of Technology professor who has been leading MIT Biomimetics Robotics Lab since 2012. Using
Jan. 15, 2020
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Samsung's chip revenue 2nd-largest after Intel in 2019: data
Samsung Electronics Co., South Korea's top tech firm, was relegated to second place in terms of chip sales in 2019, industry data showed Wednesday, due to the downturn in the memory chip market. Samsung's chip business logged $52.2 billion in revenue last year, down 29.1 percent from a year earlier, according to data from US-based research firm Gartner. The latest performance dragged Samsung down to the No. 2 spot in the global semiconductor market for the first time since 2016. Samsung's share
Jan. 15, 2020
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Netflix in Korea ordered to change unfair terms of use
South Korea’s antitrust regulator said Wednesday that Netflix would make changes in their terms of use that are deemed unfair, including changing subscription plans and prices without consent, in accordance with instructions it made to the company. The company’s revised terms of use will take effect starting on Jan. 20. This is the first time the government has ordered such changes to be made by a global over-the-top streaming service.The Fair Trade Commission also signaled that it w
Jan. 15, 2020
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NHN invests W5b in local ride-hailing platform Macaron Taxi
Ride-hailing platform Macaron Taxi’s operator KST Mobility said Wednesday it has received additional 5 billion won ($4.3 million) investment from NHN, capping the initial 18-billion-won investment required for its app-based service. The two firms also agreed to collaborate on adding new services to the platform for user convenience, starting with NHN’s online payment system Payco.KST Mobility started its test run of the platform, titled “Series A,” in February last
Jan. 15, 2020
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[Monitor] Food takes up less in household spending
Household expenditure in South Korea logged 656.85 trillion won ($570 billion) in the first three quarters of last year, of which 11.42 percent was spent on buying food and nonalcoholic beverages. The ratio of money spent on buying food items by households was the lowest since 11.39 percent in 2014. (khnews@heraldcorp.com)
Jan. 15, 2020
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Samsung ranks No. 3 in global wireless headset shipments in 2019: data
Samsung Electronics Co., South Korea's top electronics firm, ranked third in global wireless headset shipments last year, industry data showed Wednesday, though it trailed far behind its rival Apple Inc. Samsung shipped 7.4 million totally wireless headsets for a 6.9 percent market share in 2019, according to data from market tracker Strategy Analytics. TWS refers to Bluetooth stereo headsets that do not have a wire connecting the two earpieces.Apple was the dominant force in the TWS market with
Jan. 15, 2020
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Samsung ranks 2nd in 2019 US patent grants
Samsung Electronics Co. took the No. 2 spot in US patent grants last year, industry data showed Wednesday.The world's top smartphone and memory chip maker, received 6,417 US patent grants in 2019, up 11 percent from the previous year, according to the data from IFI Claims Patent Services, a provider of a top global patent data platform. Samsung has been the runner-up in IFI's US patents grants rankings since 2006. IBM Corp. topped the list with 9,262 grants last year, up 2 percent from a y
Jan. 15, 2020
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Kia workers tentatively agree on revised wage offers
Unionized workers at Kia Motors Corp. have tentatively agreed on the company's revised offerings in wage negotiations for the year of 2019, the company said Wednesday.Last month, Kia and its union reached a tentative wage and collective bargaining deal but 56 percent of 27,050 Kia workers voted down the deal. The union workers staged three rounds of partial strikes last month and held an eight-hour strike on Monday. They demanded the company narrow an income gap with workers at bigger affi
Jan. 15, 2020
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Samsung Electronics to acquire US network service provider
Samsung announced Tuesday that it will acquire TeleWorld Solutions, a Virginia-based network service provider. TWS specializes in providing network designs, installations, testing and optimized solutions to mobile service and cable operators as well as original equipment manufacturers. With the latest deal with TWS, Samsung Electronics is expected to increase its presence in the network infrastructure market as an end-to-end service provider.The South Korean company has been supplying netwo
Jan. 14, 2020
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New GS chairman asserts ‘innovation’ for 2020
GS Group Chairman Huh Tae-soo presented “innovation” as his first management keyword since taking office last month, with the aim of expanding an open innovation culture in the conglomerate, officials said Tuesday. He took the baton to lead the group from his brother Huh Chang-soo last month. “We can increase the sustainability of our business and society by building partnerships with various other enterprises, including startups, and exchange healthy influences,” Hu
Jan. 14, 2020
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Companies joining ‘W1tr club’ double in 2 decades
The number of South Korean companies with revenue of more than 1 trillion won ($867 million) has doubled over the last two decades, although the growth has slowed in recent years, latest data showed Tuesday. The findings were disclosed in a study by Sustainable Growth Institute which surveyed large domestic companies between 1998 and 2018 to gauge the health of Korea’s economy. According to the report, the number of firms with sales of more than 1 trillion won increased from 83 to 197
Jan. 14, 2020
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Hyundai E&C secures W870b deals from Qatar, Singapore
Hyundai Engineering and Construction Co., a major South Korean builder, said Tuesday it has clinched orders worth a combined 870 billion won ($754 million) to build office buildings in Qatar and a sports center in Singapore.Hyundai E&C said it has received a letter of award from Qatar's Lusail Real Estate Development Co. for a project to build two of four Lusail Plaza Towers, for 609 billion won.The 65-story buildings, with an additional five underground floors, are part of the Lusail City F
Jan. 14, 2020
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LG joins hands with US firm for in-vehicle infotainment system
LG Electronics Inc. said Tuesday it has signed a partnership with US-based automotive voice recognition solutions provider Cerence Inc. to develop an in-vehicle infotainment system. Under the deal, which was signed on the sidelines of Consumer Electronics Show in Las Vegas, Nevada, last week, LG and Cerence will collaborate in developing a webOS Auto-based IVI system equipped with voice recognition features. WebOs Auto is a Linux-based automotive infotainment platform specially designed to provi
Jan. 14, 2020
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Samsung BioLogics’ CDO is lucrative strategy
San Francisco -- Samsung BioLogics’ newfound focus on small-scale contract development organization services will be the foundation for its plans to draw larger contract manufacturing organization deals, a top executive said Sunday.“The CDO business will bring in 30 percent of CMO clients by 2030 and 50 percent by 2035,” Yang Eun-young, head of Samsung BioLogics’ CDO business team, told reporters a day ahead of the JP Morgan Healthcare Conference slated for Monday through
Jan. 13, 2020
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Manila-bound flights canceled due to volcanic eruption
South Korean air carriers canceled flights connecting Incheon and Manila following a volcanic eruption that covered areas of the Philippines with ashes, industry sources said Monday.Earlier in the day, Korean Air Lines Co., South Korea's top flag carrier, canceled three flights departing from Incheon International Airport to Manila, along with three returning flights.Global flights bound for Manila have been disrupted since Sunday following the eruption of Taal Volcano, located 65 kilometers sou
Jan. 13, 2020