Most Popular
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Korea added to key bond index
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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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South Korean author Han Kang wins 2024 Nobel Prize in literature
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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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Samsung, SK chiefs may accompany president during visit to Netherlands
The heads of South Korea’s top two conglomerates Samsung Group and SK Group are expected to travel to the Netherlands, a semiconductor powerhouse, next month to accompany President Yoon Suk Yeol on his state visit there, according to industry sources on Wednesday. Yoon is scheduled for a state visit to the Netherlands upon the invitation of Dutch King Willem-Alexander on Dec. 12 and 13. It is the first time a South Korean president will make a state visit to the small European country sinc
Nov. 15, 2023
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[Herald Interview] Korean team wins James Dyson Award with ‘hands-free’ IV drip
A group of Korean university students has won the top honors at The James Dyson Award, an international engineering competition for young innovators, with their unique invention -- a “hands-free” intravenous drip device. The award was launched by The James Dyson Foundation, an international charity of Sir James Dyson, the founder and chief engineer of the UK appliance giant, in 2005. The billionaire inventor handpicks the award winners every year. This is the first time that a Korean
Nov. 15, 2023
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S-Oil supports Korea Coast Guard
South Korean oil refiner S-Oil on Wednesday donated a fund of 270 million won ($207,408) at a ceremony held at the headquarters of the Korea Coast Guard in Incheon, together with the Korea National Council on Social Welfare, as part of its ongoing program to support the nation’s coast guard officers. The fund will be used to honor coast guard officers it deems "heroes," support medical treatment for coast guard officers and provide tuition scholarships for children of officers ki
Nov. 15, 2023
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Posco vows to foster startups, regional economies
Representatives from South Korean steel giant Posco on Wednesday met with government officials to explore ways to boost Korean startups and revitalize the regional economy, discussing the performance of its in-house venture development platform and its future outlook. The meeting took place at Change Up Ground in Pohang, North Gyeongsang Province, one of its venture incubator facilities, with more than 40 people in attendance. It included Chairperson Woo Tong-ki of the Presidential Committee for
Nov. 15, 2023
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Naver's QR payment service available in 42 countries
Internet giant Naver’s payment platform, Naver Pay, said Wednesday that its QR-based offline payment service is now available at Alipay Plus merchants in 42 countries, mainly catering to Korean tourists. "We are committed to actively expanding our payment service to establish it as the preferred payment method for Koreans traveling abroad," said a Naver Pay official. The 42 countries span across Asia, including China, as well as European nations, the US, and Australia. Followin
Nov. 15, 2023
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[Photo News] BBQ honored by NYPD
Genesis BBQ Group Chairman Yoon Hong-geun received an official commendation from the New York Police Department for his contributions to enhancing the public safety of 32nd Street in Manhattan's Koreatown, the firm said Wednesday. The Korean fried chicken franchise has been implementing increased security measures at its US branches while offering police officers special discounts to encourage them to visit, which has helped reduce crime in the area. Genesis BBQ currently operates over 250
Nov. 15, 2023
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Han Sung Motor commits to give back to society
Han Sung Motor, the largest Mercedes-Benz car dealer in Korea, is ramping up efforts to carry out diverse corporate social responsibility activities, buoyed by the voluntary participation of employees. As ESG efforts continue to emerge as key corporate principles, Han Sung Motor is giving back to society via eco-friendly volunteering as well as activities for underprivileged people, the company said. On Nov. 7, 53 employees of Han Sung Motor's after-sales service department gathered at Yeou
Nov. 15, 2023
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Korea, Japan airport operators hold first post-COVID talks
Korea Airports Corp. said Tuesday the head of the state-run airport operator met with the head of Japan Airport Terminal, in a bid to discuss the two airport operators' future strategies for airport operations. According to the KAC, Chief Executive Officer Yoon Hyeong-jung met with Isao Takashiro, the CEO of Japan Airport Terminal, during the two airport operators' annual meeting, which was last held in 2019, took place in Tokyo on Monday. The KAC currently operates Gimpo International
Nov. 14, 2023
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Business groups demand more flexible working hour system
Korean business groups were not fully happy with the government's proposal to mostly retain the existing 52-hour workweek system on Monday, calling for further reforms. The Ministry of Employment and Labor proposed to maintain the current workweek system while applying complementary measures for some industries that require greater flexibility in working hours. The Korea Enterprises Federation, in particular, strongly criticized the proposal. “The proposal is not as comprehensive as t
Nov. 14, 2023
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Daewoong's Nabota tops botulinum toxin exports
Daewoong Pharmaceutical said Tuesday that its botulinum toxin product, Nabota, posted 113.3 billion won ($85.3 million) in sales as of the third quarter this year. Overseas sales made up 93.5 billion won or 83 percent of the total, the company added. Nabota's overseas sales have continued growing in recent years, an outcome of Daewoon's global push. The portion reached 61 percent in 2021 and then surged to 77 percent last year. US sales, in particular, reached 44.5 billion won, making
Nov. 14, 2023
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LG companies hint at grand promotions to celebrate Twins' big win
LG Group affiliates, including the country's leading home appliance maker, LG Electronics, are preparing grand promotional events to celebrate the first championship win of its baseball team, the LG Twins, in 29 years. The Twins defeated the KT Wiz 6-2 in Game 5 of the Korean Series at Jamsil Baseball Stadium in Seoul, claiming the best-of-seven series 4-1 on Monday, for their first championship since 1994. "I am really grateful to the fans who have shown unchanging love and support fo
Nov. 14, 2023
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KT&G unveils W2.8tr shareholder return plan
South Korea's largest tobacco company KT&G has unveiled a new shareholder return plan worth 2.8 trillion won ($2.1 billion), together with future business plans, during an online investor relations event. During the event held Monday under the title "KT&G Value Day," the company renewed its commitment to improving shareholder benefits from a long-term perspective. Under the new plan, which kicks off next year, the company plans to pay 1.8 trillion won in dividends, and to
Nov. 14, 2023
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[Photo News] Hyundai Oilbank forays into West Coast
HD Hyundai Oilbank's head of its global business division, Lee Seung-soo and Sunoco LP Chief Commercial Officer Austin Harkness pose for a photo after extending a contract to supply petroleum products to America’s largest independent fuel distributor through 2024. Since 2021, the Korean oil refiner has exported gasoline and diesel to Hawaii, switching to a long-term contract the following year. Under the updated contract, Hyundai will supply 3.6 million barrels of petroleum products p
Nov. 14, 2023
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Hana holds conference for future female leaders
Hana Financial Group on Monday held a conference for Hana Waves, an in-house program to nurture future female leaders, to share the stories of nearly 100 leaders produced through the program over three years. Under the slogan “Women’s Actions, Voice, Emotion,” Hana started the first Hana Waves program in 2021, hoping to boost female leaders to steer the group’s future. As part of the group’s gender diversity efforts at the C-suite level, members of the first series
Nov. 14, 2023
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Kakao founder vows to reassess all businesses from ground up
Kakao founder Kim Beom-su said he will review the entirety of the platform giant's services and businesses, including management personnel, from the ground up, ahead of an emergency management meeting held earlier Monday. "(We will) aim to become a company that meets the public's standards by reassessing all of (Kakao's) services and businesses," Kim told reporters at Kakao Mobility's headquarters in Pangyo, Gyeonggi Province. Kim, who currently serves as the head o
Nov. 13, 2023
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Bithumb to push for IPO in 2025
Bithumb, one of South Korea's four major cryptocurrency exchanges, is preparing to become the first cryptocurrency exchange to go public in Korea, in a move to expand its share in the market currently dominated by its larger peer, Upbit. "We selected Samsung Securities as our manager for initial public offering at the end of (October). We aim to go public during the second half of 2025," a Bithumb official said on Monday. The company is primarily considering a listing on Korea
Nov. 13, 2023
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Dunamu hosts forum on blockchain's potential
The Upbit D Conference, a leading blockchain event hosted by Dunamu, operator of the country's largest crypto exchange Upbit, took place Monday, sharing ideas on how to expand the blockchain industry. Under the slogan “All That Blockchain,” the event invited some 40 experts from 29 countries as speakers to discuss related trends, policies, finance and content involving blockchain. “As the blockchain industry evolves, the UDC continues to grow,” Song Chi-hyung, chai
Nov. 13, 2023
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Hanwha Ocean to raise capital for wind power business
South Korean shipbuilder Hanwha Ocean said Monday that it will expand investment in its wind power business from the initial target of 200 billion ($151 million) to 300 billion won to secure an edge in the burgeoning industry. The company said it plans to issue new shares to raise capital for the planned investment. Currently, the global market for offshore wind power generation is growing at an annual rate of 18 percent. The field is expected to become one of the major renewable energy sources
Nov. 13, 2023
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SK hynix starts supply of world’s fastest mobile DRAM for China's Vivo
SK hynix has started supplying 16-gigabyte packages of Low Power Double Data Rate 5 Turbo, the fastest mobile DRAM available today, to its customers, the company announced Monday. The world’s second-largest memory chipmaker said it has started shipping its up-to-date product to Chinese smartphone manufacturer Vivo, which will be using the memory chips in its latest smartphones, the X100 and X100 Pro. LPDDR is a low-power DRAM for mobile devices, including smartphones and tablets, which aim
Nov. 13, 2023
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STX to supply lithium with South American partners
South Korean trading company STX said Monday that it has signed a trilateral agreement with its partners based in Peru and Brazil, forming a secure supply chain that includes mining lithium and processing lithium concentrate. Lithium is a key mineral used for making rechargeable batteries. Under the partnership, STX announced a strategic equity investment in a lithium mine in Peru, which is estimated to have 18.1 million metric tons of lithium deposits. Signing an offtake agreement, it will also
Nov. 13, 2023