Most Popular
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Korea added to key bond index
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South Korean author Han Kang wins 2024 Nobel Prize in literature
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North Korea notifies UN Command of plans to fortify border with South
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Will Apple quit smart ring race with Samsung?
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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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More deaths in ICU following doctors' mass walkout: lawmaker
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Security issues to take center stage at ASEAN summit
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North Korea already cut off inter-Korean roads in Aug.: JCS chief
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[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
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SK Bioscience exports cell-cultured flu vaccines to Thailand
South Korean pharmaceuticals firm SK Bioscience said Thursday that it exported its cell-cultured flu vaccine, SKYCellflu, to Thailand, marking its first entry into a market with southern hemisphere requirements. The company shipped out approximately 440,000 doses of SKYCellflu to its Thai partner Biogenetech from its vaccine manufacturing facility in Andong, North Gyeongsang Province. SKYCellflu, the world's first cell-cultured flu vaccine endorsed by the World Health Organization, aligns w
March 21, 2024
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AliExpress to open bidding for logistics partner in Korea
Chinese e-commerce giant AliExpress has chosen to solicit open competitive bids in Korea instead of extending its delivery contract with CJ Logistics, set to expire in April. According to industry sources Thursday, AliExpress recently submitted bid proposals to major logistics firms here to handle customs clearance and parcel delivery services. The new contract period, which reportedly spans one year from May, is seen as AliExpress' cost-saving measure, according to sources. In addition to
March 21, 2024
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[Photo News] Commerce & industry day
President Yoon Suk Yeol (center) and business leaders attend this year's Commerce & Industry Day ceremony held in Seoul on Wednesday. From right: LG Group Chairman Koo Kwang-mo, Hyundai Motor Group Executive Chair Chung Euisun, Samsung Electronics Chairman Lee Jae-yong, Minister for Trade, Industry and Energy Ahn Duk-geun, Yoon, and K Group Chairman Chey Tae-won who doubles as chairman of the Korea Chamber of Commerce and Industry. (Yonhap)
March 20, 2024
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[Photo News] Samsung president wins top industrial honor
Samsung Electronics Executive President Lee Young-hee, who is in charge of global marketing for mobile devices, poses with South Korean President Yoon Suk Yeol after receiving the Gold Tower Order of Industrial Service Merit in Seoul on Wednesday. Lee is credited for raising the brand value of Samsung. In 2022, she became the first female president at Samsung, apart from members of the founding family. (Yonhap)
March 20, 2024
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Samsung vows to seize opportunity of AI
While forecasting high uncertainties in the macroeconomic environment this year, Samsung Electronics Vice Chairman Han Jong-hee vowed to make efforts to expand technological innovation in burgeoning artificial intelligence and new businesses for sustainable growth. “Along with the high economic uncertainties, we expect new opportunities to increase through next-generation technological innovations such as the full-fledged launch of the AI era,” Han said during this year's annu
March 20, 2024
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Myeong-dong bustles again as retail shops fill up
Though plagued by emptied-out stores and quiet streets in the wake of the pandemic, the Myeong-dong area in central Seoul is looking to reclaim its title as a top retail district in Korea, seeing a sharp drop in its vacancy rate. Myeong-dong, a major tourist destination here, was hit severely by the lack of travelers during the COVID-19 pandemic, with its vacancy rate hitting nearly 50 percent at the end of 2021. But with pandemic rules lifted and an increase in face-to-face transactions, the ar
March 20, 2024
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Sephora exits Korea after years of losses
French cosmetics retailer Sephora, owned by LVMH Group, on Tuesday declared its withdrawal from the Korean market, following years of financial losses. "With heavy hearts, we have decided to cease operations in Korea. From May 6, we will gradually wind down our presence across online platforms, mobile applications and physical stores, ultimately withdrawing completely from the market," a social media post by Sephora Korea announced Tuesday. Sephora said that it will fulfill pending ord
March 20, 2024
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Hanwha to lead Korea’s next-gen space rocket project
South Korea’s largest aerospace company Hanwha Aerospace said Wednesday it has been selected as a private entity to lead the nation’s next-generation space rocket project. The Public Procurement Service started the bidding process in December last year and Hanwha competed against Korea Aerospace Industries. After a thorough review of its technical capabilities and project sustainability evaluation on March 12, Hanwha was decided as the preferred bidder. Hanwha plans to sign the final
March 20, 2024
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Hana pledges W30b for emergency child care
Hana Financial Group announced Wednesday the introduction of its 365 Day Hana Child Care initiative, aiming to tackle South Korea’s declining birth rate by offering reliable back-up child care options. An inauguration ceremony took place at a child care center in Nowon-gu, northern Seoul, on Tuesday, with Chairman Ham Young-joo in attendance. The program is designed to assist parents facing disruptions in their regular child care arrangements throughout the year, catering to their needs on
March 20, 2024
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Red-hot Nvidia dips after it unveils new AI chip
Nvidia shares dipped in premarket trading on Tuesday after having more than tripled in value in the past year, as the dominant AI chip supplier unveiled its latest flagship product that is expected to further cement its lead in the industry. Shares of Wall Street's third most-valuable firm were down about 1 percent, with some analysts saying investors had already factored in the launch and were looking out for more details. "If the brand-new Blackwell chip didn't trigger a fresh r
March 19, 2024
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Samsung-LG rivalry renewed in all-in-one washer
Samsung Electronics and LG Electronics are seen to be renewing their decadeslong competition in the home appliance market with their first all-in-one washer-dryer machines, which combined the two full-capacity laundry machines to complete the entire laundry process in one step. Both Samsung and LG first unveiled their new single-drum laundry machines at the IFA trade show in Germany in August last year, each claiming their products hold superiority over the other. Samsung presented the Bespoke A
March 19, 2024
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[Photo News] K-water partnership with Cambodia
Korea Water Resources (or K-water) CEO Yun Seog-dae (left) and Cambodian Minister of Water Resources and Meteorology H.E. Thor Chetha talk during a meeting in Phnom Penh, Cambodia, Monday. The two leaders discussed plans to enhance collaboration on water initiatives, including the upcoming smart water management project in Phnom Penh. As a key member nation of K-water’s Asia Water Council, Cambodia seeks official development assistance and cooperation funds to address water challenges. (K-
March 19, 2024
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Drugmakers feeling pinch from doctors’ walkout
The ongoing tug-of-war between the South Korean government and medical professionals over the proposed increase in the number of medical students could have negative impacts on local drug companies’ revenues as well, industry sources said Tuesday. According to officials from local pharmaceutical companies, the ongoing walkout of local doctors is causing a short-term decrease in the overall use of drugs and medical supplies at local hospitals where surgeries are being postponed and appointm
March 19, 2024
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[KH Explains] Will Kakao Bank secure footing in untapped Thai market?
Thailand has remained an untapped market for South Korean financial firms since their exodus during the financial crisis in the late 1990s. Now Kakao Bank, the nation’s No. 1 online-only bank, is eyeing an expansion into the burgeoning digital banking market in Southeast Asia's second-largest economy. Earlier this month, Thailand’s Ministry of Finance confirmed regulations for authorizing virtual banks, the equivalent of internet lenders in Korea. According to the regulations, a
March 19, 2024
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CJ CheilJedang showcases K-food innovations at US expo
CJ CheilJedang said Tuesday it participated in the 2024 Natural Products Expo West, the world's largest trade event in the food industry, to showcase its key products and K-food innovation overall. Held in Anaheim, California, the expo marked its 42nd anniversary, attracting around 3,000 companies and approximately 60,000 visitors over five days starting March 12. This year’s event focused on the latest trends in health and wellness, featuring new food products and nutritional supplem
March 19, 2024
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Samsung Electro-Mechanics to release high-voltage MLCCs for EVs
Samsung Electro-Mechanics announced on Tuesday the launch of its latest high-voltage MLCCs tailored for electric vehicles, in response to surging demand from global automotive component manufacturers. MLCCs, or Multi-Layer Ceramic Capacitors, play a crucial role in regulating the consistent flow of current in electronic circuits, particularly within automobiles, where each vehicle contains between 3,000 to 10,000 MLCCs. The company has unveiled five new high-voltage MLCCs, including three varian
March 19, 2024
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Tuggle joins Goyang, Yourside in promoting pet-related industries
DAO Research Institute, operator of pet service platform Tuggle, signed a memorandum of understanding with the city government of Goyang, Gyeonggi Province, and the Yourside volunteer group to collaborate on developing pet-related industries, officials said Tuesday. The memorandum was to ensure that the DAO Research Institute, Goyang Industry Promotion Agency, Goyang City Research Institute and Yourside will combine their resources to enhance their cooperation across various sections of the indu
March 19, 2024
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Trade specialist named new CEO of Hyosung Heavy Industries
Hyosung Heavy Industries on Monday announced that it has appointed Woo Tae-hee, an international trade specialist who currently serves as the vice chairman of the Korea Chamber of Commerce and Industry, as its new CEO overseeing the company's heavy industry and construction businesses. Woo, 62, a graduate of Yonsei University's Department of Public Administration in 1984, obtained his doctorate in business from Kyung Hee University in 2011. After passing the public service examinatio
March 18, 2024
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[Herald Interview] ‘Meaty rice will become reality sooner than you think’
A Korean research team has recently unveiled a bowl of pink rice, a new lab-made hybrid rice, which they say could offer a cheaper and more sustainable source of protein not just for those on a vegan diet, but also for countries still reeling from food crises. “The lab-made beef rice could hit supermarket shelves sooner than you think if regulatory issues are cleared,” Hong Jin-kee, a chemical and biomolecular engineering professor at Yonsei University and the leader of the research
March 18, 2024
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Celltrion's Zymfentra makes US debut
Korean biopharmaceuticals firm Celltrion announced Monday that its new autoimmune disease treatment Zymfentra has been launched in the US market. Zymfentra is a subcutaneous injection formulation of Celltrion's infliximab Remsima. In October last year, the US Food and Drug Administration approved Zymfentra (infliximab-dyyb) for the maintenance treatment of adults with moderately to severely active ulcerative colitis and Crohn’s disease. "Infliximab is a well-established treatment
March 18, 2024