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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Hyundai's Hillstate Dongtan Forest offers unique opportunities
Hyundai Engineering & Construction, South Korea's construction giant, announced on Thursday its search for additional tenants at Hillstate Dongtan Forest, a public-supported private rental apartment complex in Dongtan, Gyeonggi Province. The complex, featuring eight 20-level buildings and offering a total of 585 units, provides a diverse array of living spaces. Comprising 198 units with 84 square meters and 387 units with a more spacious 101 square meters, it caters to various accommoda
Feb. 29, 2024
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Kakao Pay vice president appointed head of securities unit
Shin Ho-cheol, vice president of Kakao Pay, was appointed as new chief executive officer of the stock brokerage arm, Kakao Pay Securities said Wednesday. The appointment was approved during the board of directors meeting on the same day. Pending approval at the group's regular general meeting of shareholders scheduled for March 27, Shin is set to officially assume leadership. “Given the significant responsibility of this position, I will spare no effort in expanding our growth and con
Feb. 28, 2024
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Daewoong names Nabota chief as new co-CEO
Daewoong Pharmaceutical, South Korea’s leading pharmaceutical company, is expected to appoint Vice President Park Seong-soo as its new co-CEO during its annual shareholders meeting in March, according to industry sources Wednesday. “Daewoong aims to accelerate the expansion of its overseas businesses with Park's appointment,” a source familiar with the internal matter said on condition of anonymity. Park has held diverse positions, handling global issues since he became th
Feb. 28, 2024
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Celltrion begins shipment of Remsima SC for US debut
Biopharmaceutical giant Celltrion announced Wednesday that the first batch of its new autoimmune disease treatment Zymfentra, also known as Remsima SC, has been shipped for its planned debut in the US next month. Zymfentra is the first and only subcutaneous injection version of Remsima, Celltrion’s infliximab biosimilar, to have been approved by the US Food and Drug Agency. The company said its more patient-friendly administration compared to the current intravenous injection version is ex
Feb. 28, 2024
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US Navy secretary scouts Korean shipbuilders for fleet support
US Secretary of the Navy Carlos Del Toro toured the shipyards of HD Hyundai Heavy Industries and Hanwha Ocean on Tuesday to explore their military shipbuilding capabilities for handling comprehensive support services for the US Navy fleet, as part of US defense needs to bolster its naval presence in Asia. Del Toro's visit to Korea comes as the US contemplates outsourcing naval ship maintenance, repair, and overhauls, or MRO, to alleviate domestic capacity constraints. These services keep na
Feb. 28, 2024
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Coupang reports first profitable year
New York-listed e-commerce giant Coupang on Wednesday reported its first-ever annual operating profit of $473 million last year, marking a milestone since its inception in 2010. It also reported $24.4 billion in sales, a notable 20 percent jump from 2022. In the fourth quarter alone, its quarterly sales soared 20 percent to a record $6.6 billion, while its operating profit saw 51 percent on-year growth to $130 million. "Since the beginning of this company, we have made foundational bets on
Feb. 28, 2024
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SK Telecom, SK Enmove, UK’s Iceotope join hands for data center innovation
SK Telecom said Wednesday it had teamed up with Iceotope Technologies, a precision liquid cooling firm in Britain, and its sister firm SK Enmove to develop a liquid cooling solution with high energy efficiency for artificial intelligence data centers. The leading mobile carrier in Korea said it has signed a partnership agreement with Iceotope and SK Enmove, a base oil and lubricants provider affiliated to SK Group to come up with a data center air conditioning and cooling system to cut large pow
Feb. 28, 2024
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LX Hausys to ramp up presence at KBIS trade show
South Korean construction and interior materials company LX Hausys on Wednesday said it is participating in this week's Kitchen and Bath Industry Show in Las Vegas, which runs through Thursday. The company said it aims to showcase its latest collection of engineered stone and artificial marble, aligning with its strategic goal of expanding into the thriving overseas market. Artificial marble, known for its cost-effectiveness and durability against impact, scratches and stains, constitutes a
Feb. 28, 2024
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Fescaro provides all-in-one solutions for vehicle cybersecurity
With a growing number of industries becoming digitalized to cut costs and boost efficiency, the potential of cyber security measures and software-defined vehicles has been a hot topic for carmakers across the world. Fescaro, a leading cybersecurity specialist, seeks to spearhead the change with its all-in-one cybersecurity solutions customized to meet the needs of its clients, in accordance with changing international standards. The European Union in 2022 introduced cybersecurity regulations, ma
Feb. 28, 2024
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DAPA clears HD Hyundai Heavy to bid in gov't contracts
The state arms procurement agency on Tuesday cleared major shipbuilder HD Hyundai Heavy Industries Co. to bid in government contracts after deliberating on its possible restriction over the company's involvement in a military secret leak. Last November, employees at HD Hyundai Heavy Industries were found guilty of violating the Military Secret Protection Act by acquiring military secrets related to the Korea Destroyer Next Generation (KDDX) project and sharing them on their company server f
Feb. 27, 2024
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Mirae Asset Securities strengthens foothold in India
South Korea's brokerage Mirae Asset Securities announced Tuesday that its Indian unit hit a significant milestone, with its retail customer accounts surpassing one million in five years after its launch in 2018. India, the world's fifth-largest economy, holds strategic importance for Mirae Asset Financial Group, leading to substantial investments to bolster its presence in the country. The financial giant made its mark in India with the introduction of the online brokerage platform, m.
Feb. 27, 2024
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Hahn & Co., Kolon to form joint venture for industrial film
Hahn & Co., the nation's largest private equity firm in terms of assets under management, is to set up a joint venture with Kolon Industries, a chemical and textile manufacturing unit under Kolon Group, to bolster its industrial film business. The two entities have signed a binding memorandum of understanding to cooperate for the launch of the joint venture, according to a disclosure filed by Kolon Industries Tuesday. “The related parties are discussing the details. An announcemen
Feb. 27, 2024
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Merck’s Keytruda tops drug sales in Korea
Merck’s immuno-oncology drug Keytruda, one of the best-selling drugs in the world, topped drug sales in Korea for the second consecutive year in 2023, according to market tracker IQVIA on Tuesday. Keytruda’s sales in Korea came to some 399 billion won ($300 million) in 2023, up 159 billion won from the previous year, while global sales of Keytruda hit $25 billion, making it the top-selling drug worldwide. “Keytruda’s success in the country came as the drug can be prescrib
Feb. 27, 2024
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Samsung eyes AI chip leadership with highest-capacity HBM3E
Samsung Electronics said Tuesday it has developed HBM3E 12H, the industry’s first 12-stack HBM3E DRAM and the highest-capacity HBM product to date, going one step further than its rivals in the burgeoning artificial intelligence chip market. The world's largest memory chip maker said it has begun providing samples of HBM3E 12H to customers, and mass production is slated for the first half of this year. “The industry’s AI service providers are increasingly requiring HBM wit
Feb. 27, 2024
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New KITA chief urges readiness for US election
Former Industry Minister Yoon Jin-shik officially took the reins of the Korea International Trade Association, the nation's largest trade lobby group, after being approved at a general meeting on Tuesday. "Korea's exports experienced difficulties with the slowdown of the global economy but it will improve," Yoon said at a press event held after the meeting. "The biggest problem with exports is that they focus heavily on a certain region, while products are limited. The s
Feb. 27, 2024
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Kyobo Life secures most-admired insurer title for 2nd consecutive year
Kyobo Life Insurance has been named the nation's most-admired life insurer for the second consecutive year, reflecting CEO and Chair Shin Chang-jae's steadfast commitment to a sustainable management philosophy. The Kyobo subsidiary announced it received the honor on Tuesday from the Korea Management Association Consulting, marking its second straight year being recognized as the top life insurer at KMAC's most-admired companies ceremony. This year, Kyobo Life also secured a place
Feb. 27, 2024
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Korea's BBQ Chicken tops US fast-food chicken ranking: magazine
In a significant achievement for South Korean cuisine, BBQ Chicken has topped a fast-food chicken ranking in the United States, the Korean fried chicken franchise announced Monday. Genesis BBQ Group, the franchise operator, said BBQ was selected as No.1 fast-food chicken by a prestigious American food magazine "Taste of Home." Founded in 1993, Taste of Home is a US media outlet specialized in food with a readership of 1.9 million and average monthly website traffic of 20 million visits
Feb. 26, 2024
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Hyundai E&C share jumps on potential Bulgarian deal
Hyundai Engineering & Construction shares jumped Monday as the company has been tapped as the preferred bidder for a $14 billion worth nuclear plant project in Bulgaria. The builder's shares ended at some 34,000 won ($25.5) on Monday, around 2 percent higher than last week. On Sunday, the company said that it has been selected as the preferred bidder for a nuclear plant project to build two nuclear reactors, with a combined capacity of 2,300 megawatts (MW), in Kozloduy, located around 2
Feb. 26, 2024
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New regulation on housing loans comes into force
South Korea has tightened household debt regulations with the introduction of "stress interest" to the debt service ratio system across the banking sector, effective Monday. The Financial Services Commission has implemented the stress DSR system, which imposes surplus interest -- called stress interest -- to reflect potential future interest rate hikes when the borrower executes the loan. The DSR gauges the amount a borrower has to pay for principal and interest relative to annual inco
Feb. 26, 2024
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[KH Explains] India: Make-or-break market for Krafton
South Korean game developer Krafton logged surprise earnings in the fourth quarter of last year thanks to the revival of PUBG: Battlegrounds, a battle royale shooter game. In particular, Kratfon highlighted the rise of Battlegrounds Mobile India, or BGMI, as one of the key factors that drove the revenue upturn during the conference call on Feb. 8. BGMI was launched in India as a country-dedicated mobile version of PUBG in July 2021. The game developer said that BGMI quickly recovered after the g
Feb. 26, 2024