Most Popular
-
1
Korea added to key bond index
-
2
North Korea notifies UN Command of plans to fortify border with South
-
3
Will Apple quit smart ring race with Samsung?
-
4
[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
-
5
[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
-
6
More deaths in ICU following doctors' mass walkout: lawmaker
-
7
Security issues to take center stage at ASEAN summit
-
8
South Korean author Han Kang wins 2024 Nobel Prize in literature
-
9
[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
-
10
Patients opting to die with dignity on steady rise
-
Samsung Electronics accounts for 84% of Q3 smartphone sales
Samsung Electronics Co. accounted for more than 80 percent of South Korean smartphone sales in the third quarter amid contracted demand for high-end gadgets, industry data showed Monday. Some 3.4 million smartphones were sold in the country during the July-September period, down 10 percent from a year ago, according to the data by market research firm Counterpoint Research. Samsung's smartphones dominated the market, capturing 84 percent of total sales, thanks to the popularity of its new f
Nov. 13, 2023
-
Kumho Petrochemical comits to net zero by 2050
Kumho Petrochemical Group has reiterated its corporate-wide commitment to enhancing environmental and safety measures while developing a sustainable management system to begin carbon-neutral growth by 2035 and achieve complete carbon neutrality by 2050. Kumho Petrochemical and its affiliates, including Kumho P&B Chemicals, Kumho Mitsui Chemicals, Kumho Polychem, Kumho T&L, and Kumho Resort, have coordinated through an internal ESG council to align on environmental and safety management
Nov. 13, 2023
-
[Photo News] Inspection before Suneung
Engineers of Hi-MSolutek, LG Electronics’ service and maintenance affiliate, inspect an air conditioner in a classroom designated as a venue for the Suneung, Korea’s College Scholastic Ability Test, slated for Thursday this week. LG Electronics said it is running inspections of its air conditioners installed at 250 examination sites across the country until Wednesday. (LG Electronics)
Nov. 13, 2023
-
Franchise issues in Korea
News has emerged that famous franchise CEOs in the food service industry were severely criticized during an inspection conducted by the National Assembly. Abuse of power and unfair contracts in the franchise sector have been continuously pointed out as chronic issues. At this juncture, a better understanding on franchises and the Fair Trade Commission is needed. We will examine the related issue with Jeong Yeon-jae, attorney at law. Q. How did franchises become a widely used business model? En
Nov. 13, 2023
-
Korean banks to offer loans for Polish weapons deal
South Korea's top five commercial banks will provide the first tranche of a syndicated loan worth 3.5 trillion won ($2.65 billion) to the Polish government to finance a follow-up weapons purchase deal with Korean arms companies, industry sources said Friday. This decision came after South Korea's Defense Ministry asked the top five commercial banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- to provide the lending during a meeting held on Nov. 6, as state-run banks hit their lo
Nov. 12, 2023
-
LG Display set for turnaround next year, buoyed by Apple’s first OLED iPad
LG Display is expected to get out of the red next year earlier than expected, by supplying organic light-emitting displays for Apple's upcoming iPad Pro, of which the panels are to be three times more expensive than that of the iPhone. According to industry sources on Sunday, the Korean panel maker will start OLED production for the upcoming iPad Pro in February next year at its plant in Paju, Gyeonggi Province. This is about three months earlier than predicted, with Apple forecast to launc
Nov. 12, 2023
-
[From the Scene] CJ Logistics aims to operate global hub for cross-border e-commerce
INCHEON -- At CJ Logistics' Global Distribution Center, a total of 140 red, box-shaped robots with four wheels zoom across rows of stacked-up bins. The robot then drops down wires and hoists up a bin filled with goods. Carrying the bin, the robot scurries along the metal railings, transporting the bin to the packaging station, where an employee selects a set number of items from the bin to pack into a box for delivery. The robot then bustles back again and heads for another bin, repeating t
Nov. 12, 2023
-
Hyungji Group chairman wins Gold Tower award
South Korean retail giant Hyungji Group Chairman Choi Byung-oh has won the Gold Tower Order of Industrial Service Merit, the highest honor in the trade sector awarded by the government, for his outstanding contributions to the nation’s textiles industry. The Ministry of Industry, Trade and Energy and the Korea Federation of Textile Industries on Friday recognized 47 business leaders in commemoration of the 37th Textile Day. Choi, in particular, was recognized for boosting the competitivene
Nov. 12, 2023
-
Samyang Roundsquare aims to lead future K-food culture
South Korean food giant Samyang Roundsquare, formerly known as Samyang Foods Group, has been rapidly expanding its global presence with the soaring popularity of its bestselling spicy ramyeon products. Over the past decade, its flagship Buldak Ramyeon has established itself as a leading Korean brand, gaining footholds in a total of 95 countries. Since the export of Buldak series came into full swing in 2016, Samyang’s earnings have also seen a surge. The company posted 909 billion won ($
Nov. 12, 2023
-
Modern pentathlete wins Dong-A Otsuka scholarship
South Korea’s leading beverage maker Dong-A Otsuka said Friday that it delivered scholarship funds worth 5 million won ($3,800) to Shin Su-min, a teenage modern pentathlete, at the 17th Youth Hero Prize ceremony hosted by the Korea Scout Association. The award, launched in 2007 by the KSA, aims to nurture future talents by recognizing prospective youths in a total of five categories including physical sports, academics, culture & art, community service, and scouting. Among those five
Nov. 12, 2023
-
LG Energy Solution, Ford scrap plan to build battery JV in Turkey
LG Energy Solution, South Korea's top battery maker, said Saturday its plan to build a battery plant in Turkey with Ford Motor has been scrapped as a Turkish partner revoked its participation in the project. In February, LG Energy Solution signed a non-binding agreement with Ford and Turkey's Koc Holding A.S. to push for a joint venture to build an EV battery in Baskent, a city near the Turkish capital of Ankara. But Koc decided to revoke its participation, citing its consideration of
Nov. 11, 2023
-
Celltrion Healthcare wins Brazil's bid to supply Remsima for 3rd year
Celltrion Healthcare, Korean biosimilar giant Celltrion’s sales unit, announced that the company has won the Brazilian Federal Government’s bid to supply biosimilar infliximab Remsima for the third consecutive year. Under its contract with the Brazilian government, Celltrion Healthcare will ship out all 360,000 vials of Remsima during the first half of 2024, the company said. Celltrion Healthcare is currently the sole infliximab provider for the Brazilian government, whose supply of
Nov. 10, 2023
-
National Assembly hosts first forum on online liquor sales
Korea's National Assembly on Friday took a significant step in addressing the evolving landscape of liquor sales with its inaugural "National Assembly Discussion Forum on Invigorating e-Commerce for Liquor." Hosted by Rep. Choi Seung-Jae of the People Power Party and organized by the Asia Pacific International Spirits and Wines Alliance, the event marked the first-ever discussion in the National Assembly on the topic of online liquor sales, attracting attention from both domestic
Nov. 10, 2023
-
HD Hyundai CEO promoted to vice chairman
South Korean shipbuilding and energy conglomerate HD Hyundai promoted Chung Ki-sun, the president and CEO of HD Hyundai, to vice chairman on Friday, as part of a leadership reshuffle that also included promotions for several other executives. Chung Ki-sun's tenure as president was marked by his role in steering the company through economic downturns over the last two years, especially in the shipbuilding sector. He was pivotal in developing ship sales and research initiatives, laying the gr
Nov. 10, 2023
-
Posco narrowly avoids strike as union accepts wage deal
Posco has avoided the first-ever strike in its 55-year history as its management and union reached an agreement following six months of wage talks. The wage negotiation was concluded as the union voted to accept a tentative agreement made by the two sides on Thursday night. Of 11,245 union members, 10,856 joined the vote, according to Posco. The number of union members who voted in favor of the agreement reached 5,527, accounting for 50.91 percent, while the number of union members who were agai
Nov. 10, 2023
-
Renault Korea's Busan plant to produce all-electric Polestar 4 from 2025
Renault Korea Motors said Friday it has signed a deal with Swedish carmaker Polestar and China's Geely Holding to produce the all-electric Polestar 4 at its Busan plant from the second half of 2025. Renault Korea has dedicated efforts since 2022 to prepare for the manufacture of high-end mid-size and semi-large electric vehicles. "Kicking off Polestar 4 EV production in Busan is a fresh start for us at Renault Korea Motors, reflecting our pledge to a forward-thinking approach. We'
Nov. 10, 2023
-
Hanlim to debut one-stop real estate service in India
Hanlim Architecture Group, Korea’s comprehensive real estate service company, said Friday that its Indian unit, Hanlim India, inked a partnership deal with India's construction and management company Innovative Construction, as part of its plans to secure a foothold in the country’s burgeoning real estate industry. The agreement was signed earlier this week during an eight-day business trip by Hanlim executives to India’s major cities, including Mumbai and New Delhi. Durin
Nov. 10, 2023
-
Lotte Chemical swings to Q3 net profit on narrowed losses in basic chemicals division
Lotte Chemical Corp. said Thursday it swung to a net profit in the third quarter from a year earlier due mainly to narrowed losses in the basic chemicals business division. Lotte Chemical shifted to a net profit of 32.77 billion won ($25 million) in the three months ended Sept. 30 from a net loss of 31.07 billion won in the same period last year, the company said in a statement. "On top of reduced losses in the basic chemicals division, the bottom line was buoyed by increased sales of high-
Nov. 9, 2023
-
[From the Scene] HD Hyundai Electric eyes W5tr sales target by 2030
ULSAN -- Right below the world’s biggest shipbuilder HD Hyundai Heavy Industries' shipyard in the southeastern industrial city of Ulsan, HD Hyundai Electric is gaining momentum in the energy sector with its advanced transformer manufacturing facility. The electrical equipment maker showcased its 500-kilovolt transformer production line on Wednesday, in which an investment of 80 billion won ($61 million) was made in 2020, during a period of declining profits and challenging market cond
Nov. 9, 2023
-
[KH explains] End of Chinese tourist boom?
South Korea's tourism and retail industries have long been dependent on China's big spenders traveling to the country in tour groups. So when the Chinese government lifted a travel ban on group tours for its nationals in August, expectations were high about a possible surge in Chinese travelers, the biggest spenders among visitors here, after years of pandemic disruptions. After three months, there is little sign of the so-called “Chinese spending boom.” Experts say that ov
Nov. 9, 2023