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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Korean air carriers ordered to inspect safety of Boeing fleets
The Ministry of Land, Infrastructure and Transport has ordered South Korean airlines to carry out safety checks on their Boeing 737 Max 8 aircraft, according to the ministry on Monday. The order came as a preemptive measure following an emergency landing on Friday of an Alaska Airlines' Boeing 737 Max 9 jet in Portland, Oregon. Alaska Airlines' B737 Max 9 bound for Ontario, California, was carrying 171 passengers. The aircraft made an emergency landing due to a cabin panel blowout. Som
Jan. 8, 2024
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Taeyoung inches closer to avoiding court receivership
Debt-ridden Taeyoung Engineering & Construction made a U-turn to stick with its initial self-rescue package to avoid court receivership, which could put over a thousand of its subcontractors at risk. The 16th-largest construction company in South Korea in terms of capacity is expected to unveil additional plans, which could include offering the ownership family's stake in Taeyoung Group's holding firm, to win creditors' approval by Thursday for the launch of a debt workout p
Jan. 8, 2024
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Pernod Ricard supports spread of Korean culture
Pernod Ricard Korea, the Korean unit of the French wine and spirit giant, said Monday it has donated 40 million won ($30,385) to the Corea Image Communication Institute, or CICI, to help boost the nation’s global image in 2024. Adding to its financial contributions, the company also aims to provide some essential supplies for the events organized by the foundation this year. It will start by sponsoring the upcoming “CICI Korea 2024” on Wednesday, an annual award ceremony honori
Jan. 8, 2024
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[Photo News] Era of AI screen
Samsung Electronics Executive President Yong Seok-woo, in charge of the display division, delivers a speech about the company's vision to open the "era of artificial intelligence screen," at the Samsung First Look event held on the sidelines of CES in Las Vegas on Sunday. At the event, the tech giant unveiled its third-generation AI processor, named NQ8 AI, which will support TVs to become the connector and controller of home appliances, as well as the Neo QLED 8K TV featuring the
Jan. 8, 2024
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[Photo News] Wireless, transparent
LG Signature OLED T, the world's first wireless and transparent OLED TV, is displayed at the tech giant's exhibition booth for CES 2024, the world's largest tech show that kicks off in Las Vegas on Tuesday. The 77-inch TV, equipped with the Alpha 11 processor, has upgraded graphics and app processing speed. When turned off, the transparent screen offers openness to the space as well, the company said. (LG Electronics)
Jan. 8, 2024
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[CES 2024] Korean finance giants eye new opportunities at CES
The leaders of Hana Financial Group and Shinhan Financial Group are headed to the CES 2024, the world's largest consumer technology event slated to open in Las Vegas on Tuesday. Hana Financial Group Chairman Ham Young-joo is taking part in the tech event for his second consecutive year. This year, the Hana chief is reportedly taking with him a team of employees in the artificial intelligence sector, in line with the theme of this year's CES, which seeks to highlight the possibilities o
Jan. 8, 2024
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[CES 2024] Merck to unveil vision for 'material intelligence' at CES
Merck, a German-based science and technology company, will present its contributions to advancing the electronics industry through "material intelligence" at CES 2024, the company said Monday. “We are pushing the boundaries of science and technology to make future trends possible. Together with our customers, we enable artificial intelligence,” said Kai Beckmann, a member of Merck's executive board and CEO of the electronics division. “Our customers use our mater
Jan. 8, 2024
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Oriental Brewery seeks to connect with younger generation
South Korea’s largest beer maker, Oriental Brewery, made efforts to broaden its outreach to Generation Z and university students in 2023, in a bid to more closely communicate with young consumers. In November and December, OB CEO Ben Verhaert gave lectures on OB’s marketing strategies at Korea University and Ewha Womans University, where he was able to meet face-to-face with students. Verhaert has built a strong career in the sales and logistics fields at Anheuser-Busch InBev -- the
Jan. 8, 2024
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PM urges cash-strapped Taeyoung to draw up drastic self-rescue plan
Prime Minister Han Duck-soo on Sunday urged Taeyoung Engineering & Construction Co. to come up with a more drastic self-rescue plan to tide over its cash crunch. Taeyoung, the 16th-largest builder in South Korea in terms of construction capacity, applied for a debt restructuring program last month due to a liquidity shortage over real estate project financing loans. Taeyoung Group founder Yoon Se-young unveiled a self-rescue plan Wednesday, but creditors led by the state-run Korea Developmen
Jan. 7, 2024
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FSS cracks down on HK-tied ELS misselling
The South Korean financial authorities are launching an official probe into the misselling of equity-linked securities tied to Hong Kong's benchmark index, with massive principal losses set to occur starting this month. On Monday, the Financial Supervisory Service is set to open an on-site investigation over 12 financial institutes suspected of violating rules while selling ELS products tracking the Hang Seng China Enterprises Index. An ELS is a type of fixed-income derivative that pays o
Jan. 7, 2024
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Posco International to accelerate global push in 2024
Posco International, the trading arm of Posco Group, announced Sunday that bolstering its global presence in its main business areas, from renewable energy to electric vehicle parts, will be the key to the company’s business strategy for this year. The company will aggressively expand global production facilities and establish a value chain through partnerships with foreign firms to spur growth in 2024, it said. To grow its e-mobility business, Posco International will start construction o
Jan. 7, 2024
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Korean firms to flaunt tech supremacy at CES
South Korean tech companies are gearing up to showcase their latest cutting-edge products and innovations at the upcoming CES 2024, the world’s largest tech trade show that opens Tuesday in Las Vegas. After years of pandemic disruptions, this year’s CES is expected to attract over 130,000 visitors, making it second largest after a record 180,000 visitors in 2020, according to the event organizer, Consumer Technology Association. Under the theme of “All On,” the upcoming C
Jan. 7, 2024
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[KH Explains] Korean defense firms aim big in US market
South Korean defense firms are seeking to break through into the US market, the biggest in the world, as the industry looks to carry on its export momentum. Hanwha Aerospace on Thursday announced that it completed a field test of its multipurpose unmanned ground vehicle, Arion-SMET, with the US Army and Marine Corps in Hawaii in December. It was the first time a Korean UGV developer had taken part in the US Defense Department’s foreign comparative testing. “Arion-SMET’s partici
Jan. 7, 2024
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Korean ramyeon exports hit record high
South Korea’s exports of Korean instant noodles, also known as ramyeon, reached a new record high of nearly $1 billion (1.31 trillion won) in 2023, according to government data and industry sources, Sunday. According to data from Korea Customs Service, annual ramyeon exports were tallied at $952 million last year, a 24.4 percent jump from $765 million in 2022. The outbound shipments of ramyeon logged $785 million for the January-October period in 2023, breaking the previous year’s re
Jan. 7, 2024
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Samsung to boost patent leadership with ‘Ironflex’ trademark for foldable displays
Samsung Display has recently registered the "Ironflex" trademark for its next foldable display technology, according to a filing with the US patent agency and industry sources, Sunday. The filing said that the Korean display maker submitted the filing to the US Patent and Trademark Office on Jan. 3 and was waiting for the agency’s review. Similar filings are also found to have been made in South Korea and the UK. The Ironflex trademark consists of standard characters without clai
Jan. 7, 2024
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US finalizes antidumping duties on tin mill product imports from S. Korea, China, Canada, Germany
WASHINGTON -- The US Department of Commerce said Friday that imports of tin mill products from South Korea, China, Canada and Germany were found to have been dumped into the US market as it issued its final antidumping duty determinations. The department released the findings that the imports from the countries are "unfairly priced." Tin mill is a steel product widely used for food packaging or to store other items. In the list of companies subject to duties was TCC Steel Corp., a Sout
Jan. 6, 2024
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Subsidy for second child increases, but expected impact low
Despite the government's decision to raise the subsidy for parents having more than one child this year by 1 million won ($760), a survey suggests that the subsidy may not significantly influence parents' decisions to have another child. “Despite implementing the voucher subsidy, a recent decrease in the total fertility rate suggests there has been no direct impact (on having another child),” said Lee Yun-jin, a senior researcher at the Korea Institute of Child Care and E
Jan. 5, 2024
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Biz lobbies of S. Korea, Japan to hold annual meeting next week
Business lobbies of South Korea and Japan will hold their annual meeting early next week to discuss joint projects between the business communities of the neighboring countries, industry sources said Friday. The 30th Korean-Japan Business Council, co-hosted by the Federation of Korean Industries and the Japan Business Federation, or Keidanren, will take place over two days in Tokyo from Wednesday. Members of the FKI leadership, including Chairman Ryu Jin and Vice Chairman Kim Chang-beom, are exp
Jan. 5, 2024
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FSS chief slams Taeyoung's 'insufficient' self-rescue efforts
The head of South Korea's top financial authority on Thursday lashed out at Taeyoung Engineering & Construction's self-rescue efforts, saying they fell far short of expectations and urging a new plan within the week. Financial Supervisory Service chief Lee Bok-hyun made the comments during his New Year's press conference at the FSS headquarters in Seoul earlier in the day, just a day after the ailing construction firm announced a set of self-rescue plans to overcome a liquidit
Jan. 4, 2024
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[NCSI] Samsung Fire & Marine, Samsung Securities, Samsung C&T, Lotte Global Logistics top NCSI customer satisfaction ratings in 2023
South Korea suffered a slight decline in customer satisfaction across industries last year, an annual survey by the Korea Productivity Center said Thursday, in reflection of a sluggish economy and people’s increased belt-tightening amid high-flying interest rates. The KPC’s National Customer Satisfaction Index for 2023 was 78.2 points, down 0.2 points from the previous year. It was the first time the figure fell since 2010. The KPC, an affiliated agency of the Ministry of Trade, Indu
Jan. 4, 2024