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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[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
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Patients opting to die with dignity on steady rise
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[Photo News] New year dumplings
Standard Chartered Bank Korea CEO Park Jong-bok (third from left) attends a dumpling-making event to celebrate the new year at the bank’s headquarters in Seoul on Monday. As part of the bank’s “Diversity & Inclusion” drive, the event invited multicultural families and employees to share Korea’s traditional culture. The bank has been cooperating with the Jongnogu district office to bring the local community closer together. (Standard Chartered Bank Korea)
Jan. 16, 2024
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Celltrion Holdings pushing for listing on Nasdaq: sources
Celltrion Holdings, the parent company of major South Korean pharmaceutical company Celltrion Inc., is pushing for a listing on the Nasdaq stock exchange, industry sources said Monday. Celltrion Holdings' Chairman Seo Jung-jin announced the company's initial public offering plan during an event hosted by the Federation of Korean Industries a day earlier, according to the sources. Seo said the company will push for an IPO on the tech-heavy Nasdaq around the end of this year at the earli
Jan. 15, 2024
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Samsung family members sell W2.7tr worth of shares in group units in block deal
Three members of Samsung Group's founding family have sold their shares totaling 2.7 trillion won ($2 billion) in group affiliates, including Samsung Electronics, in an apparent bid to pay inheritance taxes. Samsung Electronics said in a regulatory filing Monday that Hong Ra-hee, the mother of Samsung Electronics Chairman Lee Jae-yong, and her two daughters -- Hotel Shilla Co. CEO Lee Boo-jin and Lee Seo-hyun, chief of the Samsung Welfare Foundation have unloaded a combined 29.8 million sha
Jan. 15, 2024
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Harvard Business School studies CJ's K-food success
Korean food giant CJ CheilJedang's success in globalizing its K-food portfolio has been recently chosen as a subject for a case study at a Harvard Business School lecture in the US. This is the first time a Korean food brand to be featured in such a capacity at the HBS, according to CJ CheilJedang. Titled "CJ Foods: The Path to Global Food Leadership," the research delves into the company's management strategy, achievements, and the secrets behind its success in pioneering overs
Jan. 15, 2024
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[CES 2024] K-water helps startups gain global reach at CES
Korea Water Resources, the state-run water management agency also known as K-water, joined this year’s CES, the world’s largest tech show, to support Korean startups to expand their presence in global markets. During the four-day event, K-water set up a 232-square-meter pavilion at Eureka Park, where entrepreneurs and budding startups can connect with mentors, investors, and corporate leaders. This is the second year of the agency has hosted its booth at the CES. The water agency o
Jan. 15, 2024
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[CES 2024] LG Innotek’s CES booth attracts more than 60,000 visitors this year
LG Innotek, the electronic component manufacturing unit under LG Group, said Monday that it had attracted more than 60,000 visitors to its exhibition booth during the CES 2024 tech show last week, a threefold increase from a year before. “At this year’s CES, LG Innotek has positioned itself as a leading company in the field of future mobility as well as accelerating the acquisition of potential customers with highly scalable basic technologies,” said Moon Hyuk-soo, CEO of LG In
Jan. 15, 2024
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KFS plants sandalwood in East Timor for better future
The Korea Forest Service on Friday celebrated East Timor’s National Day of Sandalwood and Forestry by planting sandalwood, the Southeast Asian country’s national tree, with local officials. Sandalwood, prized for its distinctive fragrance, is used for perfumes, incense, cosmetics, medicines, and furniture. The tree holds considerable cultural, economic, and historical importance for the Timorese people. Unlike other regions, sandalwood is widely distributed up to 1,300 meters above s
Jan. 15, 2024
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Korea takes lead in sustainable forest management
The Korea Forest Service is ramping up its commitment to a green transition by consolidating efforts in the forest industry, now securing nearly 40 partnerships with foreign countries. The nation's forest agency has been actively establishing bilateral agreements for forest cooperation, starting with Indonesia in 1987. A total of 39 countries are now maintaining such cooperative relationships with Korea, and the number is expected to grow. The goals of the partnerships, at first, were to bo
Jan. 15, 2024
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Catastrophic losses pile up from HK-tied ELS
The equity-linked securities fiasco is turning into a reality for South Korean banks as a load of the derivative products tied to the slacking Hong Kong's benchmark Hang Seng China Enterprises Index started maturing this month. As of Friday, around 106.7 billion won ($81.14 million) in principal losses have been confirmed from the sales of the Hong Kong index-tied ELS products sold by the five major Korean commercial banks, according to sources from the financial ring on Sunday. The five ba
Jan. 14, 2024
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Creditors to begin due diligence of Taeyoung for debt restructuring
Creditors of Taeyoung Engineering & Construction Co. were set to begin due diligence of the troubled builder as they voted to move forward with a debt restructuring program for Taeyoung, an industry source said Sunday. An accounting firm will be commissioned this week to carry out due diligence on the financial health of Taeyoung, the source said on the condition of anonymity. Taeyoung, the 16th-largest builder in South Korea in terms of construction capacity, applied for a debt restructurin
Jan. 14, 2024
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Celltrion's Yuflyma, Remsima win multiple bids in Europe
Celltrion said Friday that the company’s biosimilar products for autoimmune diseases -- Yuflyma and Remsima -- are set for further expansion in key European markets following the multiple bids it has secured there. Celltrion said that Yuflyma, a copycat version to AbbVie’s Humira, won state bids for adalimumab in Friuli-Venezia Giulia and Sicily, Italy, last year. Celltrion will supply Yuflyma for four and a half years in FVG and for two years in Sicily. Including the recent deals, Y
Jan. 12, 2024
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With nod from creditors, Taeyoung chief vows utmost self-rescue efforts
Taeyoung Group founder and Honorary Chairman Yoon Se-young urged its employees to make all-out efforts to bring its debt-ridden builder Taeyoung Engineering & Construction back on track, after creditors confirmed Friday their approval for a debt restructuring program. "The debt workout has begun, backed by the strong support of creditors. This is because (the creditors) saw a high possibility of Taeyoung E&C's normalization," Yoon announced in a statement uploaded on the
Jan. 12, 2024
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[CES 2024] SK attracts over 60,000 visitors to 'theme-park' showroom of AI, net-zero future
SK Group showcased its artificial intelligence and carbon-neutrality visions at its "theme-park" concept exhibition at CES 2024, attracting over 60,000 visitors in the four-day tech show. Wrapping up the exhibition on Friday, SK Group said it received more than double the number of visitors at its pavilion set up at Las Vegas Convention Center compared to last year. SK's seven affiliates, including SK Inc., SK Innovation, SK hynix, SK Telecom, and SK E&S, participated in setti
Jan. 12, 2024
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[CES 2024] GS Group leader calls for acceleration of future business
GS Group Chairman Huh Tae-soo has called on the conglomerate’s affiliates to take their respective technologies to the next level and move toward future businesses, during his visit to the CES 2024 held at the Las Vegas Convention Center, Las Vegas, from Tuesday to Friday. According to the Korean energy, retail and construction giant, Huh looked around the exhibition booths of not only Korean conglomerates such as Samsung, Hyundai Motor and LG, but also those of global firms such as Goog
Jan. 12, 2024
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SK Networks invests W25b in Upstage
SK Networks on Friday announced that it will invest 25 billion won ($19 million) in Upstage, a Korean startup specializing in generative AI solutions, as it seeks to expand its business in the emerging technology. The company, a general trading affiliate of SK Group, said it forged the deal to support Upstage, which is leading in the private large language model market, becoming the lead investor in the startup's Series B funding. “We are looking to back Upstage's market expa
Jan. 12, 2024
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[JPM 2024] Celltrion chief vows to set up W100tr fund via IPO
SAN FRANCISCO -- Korean biosimilar giant Celltrion's Founder and Chairman Seo Jung-jin on Wednesday pledged to establish a 100 trillion won ($75 billion) health care fund through the initial public offering of the holding firm of Celltrion Group, as soon as later this year or early 2025. Seo envisions the listing of Celltrion Holdings to harness the generated funds for future initiatives in the biopharmaceuticals sector. Seo holds a 98.5 percent stake in the firm. "With the forthcoming
Jan. 11, 2024
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[CES 2024] HD Hyundai CEO vows innovations as ‘future builders’
LAS VEGAS -- HD Hyundai's Vice Chairman and CEO Chung Ki-sun declared on Wednesday the company's transition to a technology-driven construction solutions provider, revamping its traditional heavy industry roots, in a keynote speech at CES 2024. It was the first time that the head of a South Korean company that does not make electronics has delivered a keynote speech at the world's largest tech show. "Construction has always played a pivotal role in building the bedrock of the
Jan. 11, 2024
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Samsung C&T builds world's 2nd-tallest building in Malaysia
Samsung C&T has completed the construction of a 118-story skyscraper in Malaysia, the second-tallest building in the world, the company said on Thursday. The construction and trading firm under Samsung Group held an opening ceremony on Wednesday for finishing Merdeka 118, a 679-meter complex building in the central area of Kuala Lumpur. “Samsung C&T has solidified its leading position in the high-rise construction sector through completing both the world’s first and second ta
Jan. 11, 2024
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[JPM 2024] Kakao Healthcare's AI diabetes solution to hit Japan, US markets
SAN FRANCISCO -- Kakao Healthcare, the digital health care unit under Korea's platform giant Kakao, revealed its aspirations to launch the AI-based blood sugar management service, PASTA, in Japan later this year, and the US by the end of next year, the company's CEO Hwang Hee said at the JPMorgan Healthcare Conference Tuesday. PASTA, developed in collaboration with global companies Dexcom, Novo Nordisk and iSense, is a blood sugar management service utilizing a continuous glucose monit
Jan. 11, 2024
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[CES 2024] Doosan chief highlights business synergy with AI
Doosan Group Chairman Park Jeong-won underscored the importance of applying artificial intelligence technology to other business areas as he toured CES 2024 in Las Vegas on Wednesday. “We are closely looking at how far the advancement of AI has come and how it could change the traditional manufacturing industry,” said Park. “We will look for the ties between AI technology and our business and seek business opportunities.” The Doosan chief along with the group’s mana
Jan. 11, 2024