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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Hyundai Motor, UAE fund team up on hydrogen, future mobility
Hyundai Motor Co. and Mubadala Investment Co., the United Arab Emirates sovereign wealth fund, have entered into a partnership set to advance projects in hydrogen energy, green aluminum production, eco-friendly mobility solutions, and advanced air mobility. This agreement was sealed at a signing ceremony in Abu Dhabi's Mubadala Tower on Friday, with Chang Jae-hoon, president and co-CEO of Hyundai Motor, and Waleed Al Mokarrab Al Muhairi, the deputy group CEO of the Investment Committee at
Dec. 17, 2023
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Mirae Asset's Hong Kong unit marks 20th anniversary
Mirae Asset Global Investments said Sunday that its Hong Kong unit, its first overseas operation, has marked its 20th anniversary. The Hong Kong subsidiary, founded in 2003, has been pivotal to the company's overseas expansion. In 2005, it launched Mirae Asset Asia Pacific Star Securities Investment – the first fund to be managed directly overseas. It also facilitated overseas investment opportunities for Korean investors by introducing various emerging market funds including BRICS --
Dec. 17, 2023
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LG donates W12b to support neighbors in need
LG Group said Sunday that it has donated a total of 12 billion won ($9.24 million) to Community Chest of Korea, a local charity organization, as part of its year-end charitable giving. The ceremony was held at the charity’s Seoul office on Friday, with officials including CCK Chairman Kim Byong-joon and LG President and Head of Management Support Division Ha Beom-jong in attendance. "We hope that our neighbors in need can spend a warm year-end with hope and courage," said LG Pres
Dec. 17, 2023
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LG Electronics supplies automatic frying machines to BHC
BHC, one of South Korea’s biggest fried chicken franchises, said Friday it has adopted automatic frying machines from LG Electronics on a trial basis. “BHC has introduced LG Electronics' automatic frying machines to some BHC stores in the country. The company plans to expand the adoption of the machine after testing its efficiency,” the BHC official said. The automatic frying machine, known as Tuiibot, developed by an internal venture unit under LG Electronics’s busi
Dec. 15, 2023
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Hugel wins award for $70m exports of cosmetic products
Hugel, South Korea's botulinum toxin products maker, has been recognized by the government for its recent accomplishments in exports, the company said Friday. According to Hugel, the company has been awarded by the Ministry of Trade, Industry and Energy and the Korea International Trade Association for reaching the $70 million export milestone between July of 2022 and June this year. The value of the company’s exports in the 12-month period was the highest among the companies based in
Dec. 15, 2023
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Korean battery, clean energy firms expected to benefit from US tax incentives
South Korean battery and energy firms that have already built production sites in the United States are expected to receive tax credits from the US Inflation Reduction Act, Korea's Ministry of Trade, Industry and Energy said Friday. The US Department of Treasury earlier unveiled proposed guidelines for manufacturers looking to receive consumer tax credits for making eco-friendly energy components such as batteries for electric vehicles and solar panels. The incentive, named the Section 45X Advan
Dec. 15, 2023
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Samsung's AI model to be trained on 20,000 telecom-related academic papers
Samsung Electronics inked a partnership with the Korean Institute of Communications and Information Sciences for access to telecommunication-related academic papers to use in the training of its artificial intelligence program, the company said on Friday. Samsung Executive President Cheun Kyung-whoon leading Samsung Research signed the agreement with Korean Institute of Communications and Information Sciences President Hong Een-kee at the company's research and development campus in Seoul o
Dec. 15, 2023
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Samsung chief returns from Netherlands, satisfied with ASML deal
Samsung Electronics Chairman Lee Jae-yong hinted at his satisfaction over his trip to the Netherlands with President Yoon Suk Yeol on Friday, saying that most of the achievements made there were focused on semiconductors. "About 90 percent of the achievements made in the trip to the Netherlands are on semiconductors,” Lee told reporters when asked about the achievements of the trip, at Gimpo International Airport on Friday, with a satisfied smile on his face. Lee returned from the tri
Dec. 15, 2023
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Taihan Cable eyes W526b share sale for facility investment
Taihan Cable & Solution Co. said Thursday it will raise 526 billion won ($406 million) in a rights issue to expand its production facilities amid rising demand for submarine cable products. Taihan Cable plans to issue 62 million common shares at 8,480 won per share, and the shares will be sold to its existing shareholders, the company said in a regulatory filing. The South Korean cable company said it will use 470 billion won out of the proceeds to build its second domestic submarine cable p
Dec. 14, 2023
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KAI signs MOUs with Polish defense firms for FA-50 jet maintenance
Korea Aerospace Industries Co. (KAI) said Thursday it has partnered with two defense industry companies in Poland to establish a support system for maintenance and related services for its FA-50 fighter jets exported by KAI. KAI said it signed a memorandum of understandings with WZL-2 and WCBKT, subsidiaries of Poland's state-owned defense group PGZ, for the establishment of the support system for FA-50s in Warsaw on Monday. In July 2022, KAI signed a $3 billion deal with Poland to export 4
Dec. 14, 2023
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Posco develops production system for battery-grade lithium
Posco Holdings announced Thursday that the group has developed a key system used to acquire lithium hydroxide together with local secondary battery company W-Scope Korea. Posco Holdings has been using a membrane electrodialysis process to produce battery-grade lithium hydroxide from lithium brine and ore. But the group was solely dependent on imports of components used in its membrane electrodialysis process. “The development of the membrane electrodialysis system used to acquire lithium h
Dec. 14, 2023
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[KH Explains] HMM sell-off talks enter stormy waters
The attempt to sell off South Korea’s largest container shipper HMM has been delayed while the two bidders -- Dongwon Group and Harim Group -- continue to battle over the bidding process. Dongwon last week filed a complaint over the fairness of the bidding process and raised the possibility of taking legal action if the state-run Korea Development Bank and the Korea Ocean Business Corporation, the owners of 39.879 million shares in HMM, accept Harim Group’s proposal, which has reques
Dec. 14, 2023
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Lunit to acquire Volpara Health for W252b
Korean artificial intelligence-based cancer diagnostics company Lunit will acquire global breast cancer solutions provider Volpara Health, in a deal worth 252.5 billion won ($194.7 million), the company said Thursday. Lunit said this is the first time for it to join forces with another company via mergers and acquisitions, a significant step forward in realizing its mission to combat cancer with AI. Under the scheme implementation agreement, Lunit will acquire all of Volpara’s shares for 1
Dec. 14, 2023
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CJ Foodville secures W70b in funding for US expansion
CJ Foodville, the operator of bakery chain Tous Les Jours and a subsidiary of South Korean food giant CJ Group, said Thursday it has secured funding worth 70 billion won ($54 million) from Seoul-based Arges Private Equity. With the new investment, Arges has become the second largest shareholder of CJ Foodville with a 12.3 percent stake. The funding comes three months after the private equity firm was chosen as the preferred bidder to acquire 1.29 million new shares of CJ Foodville in August. CJ
Dec. 14, 2023
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Kakao Mobility announces cheaper membership category for taxi drivers amid monopoly criticism
Kakao Mobility, the operator of South Korea's leading taxi-hailing service, said Wednesday it will introduce a new membership category for registered taxi drivers with cheaper commissions from drivers. Kakao Mobility said in a press release that the new membership for drivers will require 2.8 percent commission from taxi drivers, compared with the current 4 to 5 percent level, as part of efforts to relieve the drivers' financial burden. The company also said it will improve the service
Dec. 13, 2023
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Local retail giant Daiso becomes fully Korean-owned
Daiso, a popular 1,000 won store ($0.76) chain in Korea, has officially become fully Korean-owned, shedding its last Japanese corporate shareholder, Tuesday. Although Daiso is well-known in Korea, it has often been labeled as a Japanese company, mainly because Daiso Sangyo, a Japanese entity, had been its second-largest investor with a 34.21 percent stake. Just a day earlier, Asung Daiso announced that its parent company Asung HMP acquired Daiso Sangyo's entire 34.21 percent stake. This a
Dec. 13, 2023
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[KH explains] Will ‘chip alliance’ help Samsung, SK secure more ASML machines?
As global chipmakers are competing fiercely to get their hands on ASML's scarce extreme ultraviolet lithography equipment, the enhanced chip partnership between South Korea and the Netherlands this week is creating an upbeat mood for the Korean chip industry. On Tuesday, South Korean President Yoon Suk Yeol and the chiefs of the country's top two conglomerates -- Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won -- met with Dutch King Willem-Alexander and ASM
Dec. 13, 2023
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HD Hyundai to bolster ties with Saudi Arabia
South Korean shipbuilding and heavy industries conglomerate HD Hyundai is looking to further strengthen its business ties with Saudi Arabia. HD Hyundai Vice Chairman Chung Ki-sun on Wednesday met with two high-ranking officials from Saudi Arabia -- Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef and Saudi Industrial Development Fund CEO Sultan Bin Khalid Al Saud -- at the headquarters of HD Hyundai Heavy Industries in Ulsan. Chung was accompanied by HD Hyundai Oilbank CEO
Dec. 13, 2023
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SK Ecoplant completes battery recycling plant in China
South Korean energy and environmental solutions provider SK Ecoplant has completed the construction of a new battery recycling plant in eastern China together with its e-waste recycling subsidiary TES, the company said Wednesday. It comes after SK Ecoplant’s Nanjing subsidiary and the local battery recycling joint venture ZCycle joined forces in April to build a pretreatment facility in Yancheng, Jiangsu province. ZCycle is a joint venture established in 2019, under the partnership between
Dec. 13, 2023
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Samsung C&T to join Oman’s green ammonia project
Samsung C&T, the construction and energy arm of Samsung Group, announced Tuesday that it has won business rights for Oman’s megasized green ammonia project by joining forces with global partners. Samsung C&T has formed a consortium together with Japan’s Marubeni Middle East and Africa Power, Oman’s state-owned oil company OQ Alternative Energy and the United Arab Emirates-based Dutco Group, embarking on the joint development of Oman's green hydrogen plan called &
Dec. 13, 2023