Most Popular
-
1
Korea added to key bond index
-
2
South Korean author Han Kang wins 2024 Nobel Prize in literature
-
3
North Korea notifies UN Command of plans to fortify border with South
-
4
Will Apple quit smart ring race with Samsung?
-
5
[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
-
6
[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
-
7
More deaths in ICU following doctors' mass walkout: lawmaker
-
8
Security issues to take center stage at ASEAN summit
-
9
North Korea already cut off inter-Korean roads in Aug.: JCS chief
-
10
NewJeans’ Hanni to attend National Assembly audit as witness
-
Aging cities more vulnerable to climate change: study
Cities with large populations of older residents show greater vulnerability to climate change due to inadequate investment in green infrastructure and spaces such as parks and forests, according to a study conducted by the Korea Advanced Institute of Science and Technology on Tuesday. A research team led by Kim Seung-kyum, professor at the Moon Soul Graduate School of Future Strategy at Daejeon-based KAIST, discovered the correlation between an aging population and its impact on vulnerability to
April 9, 2024
-
IMM plans to sell up to W300b Hanatour shares
Korea's leading travel agency Hanatour has been listed in the merger market with its ownership stake up for sale. Reports from the industry on Tuesday indicate that IMM Private Equity, Hanatour's largest shareholder, has recently commenced the selection process for a new stakeholder, which is anticipated to amount to up to 27.78 percent of the shares. Market sources predict that the sale price may reach around 300 billion won ($224 million), considering the management premium and mar
April 9, 2024
-
Hotel Shilla CEO to sell W440b of Samsung shares
Lee Boo-jin, the president and chief executive of Hotel Shilla, will reportedly sell some 440 billion won ($325 million) in Samsung Electronics stock, in an apparent bid to pay off her inheritance tax. Industry sources revealed Tuesday that Lee, a member of the Samsung Group founding family, is assessing buyer demand for a block deal involving 5,247,140 shares in the tech giant. Should the sale proceed, her shareholding in Samsung Electronics would decrease from 0.89 percent to 0.8 percent. The
April 9, 2024
-
Dethroned king of apps, KakaoTalk user numbers in decline
Mobile messenger KakaoTalk's once-overwhelming lead in the instant messaging industry in Korea has continued to falter, as a report Tuesday showed that the number of people regularly using the application has fallen to the lowest figure in 22 months. The monthly active users -- those who used a service at least once a month -- for KakaoTalk in March was 44.97 million, down from 45.19 million the previous month. It marked the first time the figure for the instant messaging service had dipped
April 9, 2024
-
Daewoo E&C wins Red Dot Awards
Daewoo Engineering & Construction announced Tuesday that three of its projects were winners of the 2024 Red Dot Design Award. Among the awarded projects is the Artistic Playground, installed at the Daechi Prugio Summit apartment complex in Gangnam-gu, southern part of Seoul. This space incorporates free-form play structures that resemble artworks drawn with a 3D pen in circular patterns. It was designed to inspire creativity and imagination, beyond conventional playground models. The playgro
April 9, 2024
-
US unveils some $11.6 b in grants, loans to TSMC
The US government announced a plan Monday to award Taiwan Semiconductor Manufacturing Co. some $11.6 billion in grants and loans to support the chipmaker's investment for three fabrication plants in Arizona, as it strives to boost domestic semiconductor production. The Department of Commerce has signed a preliminary agreement with TSMC Arizona Corporation, a TSMC subsidiary, to provide up to $6.6 billion in grants and about $5 billion in loans under the CHIPS Act to back TSMC's investment of mor
April 8, 2024
-
[KH Explains] Banks puzzled by derivatives misselling proposal
South Korean regulators’ push for banks to make up for investors’ losses incurred from equity-linked securities tied to a Hong Kong index has left both Korean and foreign banks baffled. Korea's major lenders accepted compensation guidelines suggested by financial watchdog the Financial Supervisory Service last month, agreeing to partly redress investors for the losses from the ELS products. The payback scheme is expected to cost around 2 trillion won ($1.47 billion) in total for
April 8, 2024
-
Late Hanjin chairman’s legacy honored in new biography
Hanjin Group, the South Korean aviation conglomerate behind the nation's flag carrier Korean Air, announced Monday the release of a biography honoring the life and accomplishments of its late chairman Cho Yang-ho. The book, titled “Charting New Horizons: the Life and Legacy of Cho Yang-ho”, was unveiled during Cho's memorial ceremony held on the same day in Singal, Yongin, Gyeonnggi Province. After joining Korean Air in 1974, Cho Yang-ho emerged as a visionary figure in the
April 8, 2024
-
7 in 10 Korean retailers feel threat from Chinese e-commerce rush
Seven out of 10 retailers in Korea say they feel threatened by the rapid expansion of Chinese e-commerce platforms, especially the big three -- AliExpress, Temu and Shein -- an industry-wide survey found Monday. Of the 500 retailers surveyed by the Korean Chamber of Commerce and Industry, the nation’s largest business lobby, 69.4 percent said their businesses are under threat by the Chinese rush, while 74.4 percent expected heightened competition in the market. Almost 60 percent of online
April 8, 2024
-
Hanwha’s succession plan picks up pace
Hanwha Group, Korea’s seventh-largest conglomerate by total assets, is poised to solidify its plan for succession, which will move from the current chairman to his three sons, as the company has taken a clearer stance on who will take charge of each business. According to the conglomerate, Hanwha Group Chairman Kim Seung-youn visited the headquarters of Hanwha Robotics in Pangyo, Gyeonggi Province, on Friday, with his youngest and third son Kim Dong-seon, who is the vice president of Hanw
April 8, 2024
-
Samsung, SK boost investment to secure hefty chip subsidies in US
South Korean chipmakers Samsung Electronics and SK hynix have been boosting investment in the US to secure federal subsidies and get ahead in the intensifying competition in the advanced chip packaging and artificial intelligence chip sectors. Samsung Electronics, the world's top memory chipmaker that also runs chip design and foundry businesses, is reportedly planning to increase its investment in its semiconductor fabrication plant currently under construction in Taylor, Texas. According
April 8, 2024
-
[Photo News] SK founder's legacy lives on
SK Group said Monday that it was opening the birthplace of its founder Choi Jong-gun and the second-generation Chairman Chey Jong-hyun to the public in celebration of its 71st anniversary. The "Ancient Residence of SK," located on a 1,111 square-meter site in Suwon, Gyeonggi Province, has been refurbished as a memorial hall exploring the history of South Korea’s economic growth and entrepreneurship. The current Chairman Chey Tae-won is the third-generation leader of the nation&rs
April 8, 2024
-
2 S. Korean banks compensate retailers for HK-tied ELS losses
Two South Korean banks have compensated retail investors for their losses involving troubled Hong Kong-tied equity-linked securities (ELS) after financial authorities' probe into possible illegal activities related to the sale of the high-risk notes, industry sources said Sunday. Shinhan Bank and Hana Bank provided the compensation to some of the individual retailers who invested in Chinese shares listed on the Hong Kong bourse through ELS products sold in their outlets, they said. Other ba
April 7, 2024
-
S. Korean exports grow rapidly amid lagging domestic recovery: KDI
South Korea's exports have grown rapidly, driven by the strong rebound in the semiconductor sector, though private consumption and investment remain weak, a state-run think tank said Sunday. "The Korean economy is experiencing a moderate downturn, buoyed by rapid growth in exports, particularly from the IT sector," the Korea Development Institute (KDI) said in a monthly economic assessment report. "But consumption remains weak, particularly in goods consumption, as financing
April 7, 2024
-
[Hello India] 'The Indian elephant has begun its stampede': Balancehero CEO
South Korean founder and CEO of India-focused mobile finance tech firm Balancehero is seeking to gain further momentum by taking a segmentation approach to India’s vigorous economic run. "My Indian friends often likened India to an elephant: challenging to set in motion, but once spurred into action, its force is thunderous. Now, it seems the elephant has begun its stampede,” said Balancehero CEO Charlie Lee said in a recent interview with The Korea Herald. Lee foresaw such expo
April 7, 2024
-
Shinhan joins race for Korea’s 4th internet-only bank
Shinhan Bank, one of the country's top commercial lenders, has thrown its hat in the ring for a license that would make it the country's fourth internet-only bank, competing in the digital space with K bank, Kakao Bank and Toss Bank. Shinhan has joined a consortium launched by Douzone Bizon, an enterprise resource planning software provider, to win approval to launch an internet-only bank. Online lenders here provide most financial services from savings to loans, operating without a ph
April 7, 2024
-
HD Korea Shipbuilding opens decarbonization R&D center
Korean shipyard conglomerate HD Korea Shipbuilding & Offshore Engineering said Sunday it has launched a new research and development facility dedicated to comprehensive testing of decarbonizing maritime technologies. The Marine Innovative Decarbonization R&D facility, located at the HD Hyundai Heavy Industries yard in Ulsan, was inaugurated in a ceremony attended by key executives, including HD Korea Shipbuilding & Offshore Engineering CEO Kim Sung-joon and Hyundai Mipo Dockyard CEO
April 7, 2024
-
Taiwan quake may push up memory chip prices in Q2: analysts
The powerful earthquake that hit semiconductor powerhouse Taiwan last week may push up memory chip prices temporarily, as chipmakers there face operational disruptions, according to market watchers on Sunday. The earthquake, which struck off the east coast of island with a magnitude of 7.4 on Wednesday, put the tech industry on edge, as Taiwan is home to 18 percent of global chip manufacturing capacity and approximately 92 percent of the world's advanced semiconductors are produced there. M
April 7, 2024
-
Febreze takes aim at smelly bathrooms, wardrobes
P&G Korea has brought out two new air fresheners designed for small spaces such as bathroom and wardrobes. Febreze Small Spaces air freshener is available in two types -- one is tailored for bathrooms and another for shoe cabinets and closets. The bathroom type is engineered to eliminate odors from toilet use, sewers and musty water, while the shoe cabinet-wardrobe version is designed for enclosed spaces, effectively combating odors from sweat and mildew. “Febreze Small Spaces is desig
April 7, 2024
-
Food delivery platforms compete with free delivery
The competition among Korea’s three largest food delivery platform operators is intensifying as each of them has recently launched free delivery services to increase their share of the market. On Friday, Yogiyo, the third-largest food delivery app provider, announced that the company would begin free delivery for users with Yogiyo membership. Yogiyo’s decision came after the other two companies, Baedal Minjok (Baemin) and Coupang Eats, rolled out membership-based free delivery servic
April 5, 2024