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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Security issues to take center stage at ASEAN summit
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South Korean author Han Kang wins 2024 Nobel Prize in literature
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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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Kosdaq volatility persists after short selling ban
Following the implementation of the short selling ban on Monday, the secondary Kosdaq market has been on a roller-coaster run, with five-minute suspensions of trading kicking in two days in a row to tame market volatility. Sidecar curbs were triggered on the tech-heavy Kosdaq once again Tuesday, just a day after they were imposed for the first time in three years. The trading curb was applied after the Kosdaq 150 futures plummeted 6.46 percent from the previous day, as the Kosdaq 150 index had
Nov. 7, 2023
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Hyundai E&C completes design of new hydrogen plant
Hyundai Engineering & Construction said Tuesday it has completed the basic design of the nation’s first water electrolysis-based hydrogen production plant. Since last year, the company has been working on the new plant located within an industrial complex in Buan, North Jeolla Province, as part of a project promoted by the Ministry of Trade, Industry and Energy. Converting electricity into hydrogen by splitting water is a promising strategy that addresses the issue of excess renewable
Nov. 7, 2023
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AmCham hosts AI forum for SMEs
The American Chamber of Commerce in Korea on Tuesday hosted the AmCham SME Collaboration Forum in Seoul to explore diverse collaboration opportunities between global companies and Korean small and medium-sized businesses in the evolving field of artificial intelligence. Several key government officials from South Korea and the US, including Rep. Ahn Cheol-soo of the ruling People Power Party, and Andrew Gately, minister counselor for commercial affairs from the US Embassy in Seoul, attended th
Nov. 7, 2023
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LX Holdings CEO promoted to president
LX Holdings Chief Executive Officer and Vice President Roh Jin-seo has been promoted to president in a regular personnel reshuffle, the business group announced Tuesday. A close confidante of the group’s chairman Koo Bon-joon, Roh served as the chief strategy officer in the holdings company before he took on the CEO position last March. “Roh led the growth of the group by coming up with strategies to strengthen business competitiveness and reorganizing the business portfolio. He also
Nov. 7, 2023
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Samsung C&T gears for 2023 Smart City Expo World Congress
The engineering and construction division of Samsung C&T Corporation is taking part in the “2023 Smart City Expo World Congress” held in Barcelona to showcase its innovative smart city model ideas, the company said Tuesday. Kicking off Tuesday, SCEWC is the world’s biggest expo on urban innovation, serving as a meeting point between industry and government leaders. This year, the E&C division of Samsung C&T is presenting a smart city model jointly developed with its
Nov. 7, 2023
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[Photo News] Expo bus in Paris
LG Group is launching 2,030 buses, dubbed Busan Expo Bus, in Paris to promote the South Korean port city’s bid to host the 2030 World Expo. The conglomerate will ramp up the promotional activities in the French capital until Nov. 28, when the host city of the upcoming expo is to be decided in a vote during the 173rd General Assembly of the Bureau International des Expositions. (LG Group)
Nov. 7, 2023
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[KH Explains] Why do Woori, NongHyup hold on to North Korean operations?
In the basement of its Seoul headquarters, South Korean lender Woori Bank has been running a small office that temporarily replaces its branch in North Korea since it pulled out of the North in 2016. In an office a little over 30 square meters in size, a lone manager handles occasional visits from businesspeople who own factories at the now-shuttered Kaesong Industrial Complex, a symbol of inter-Korean business engagement in the North Korean border city of Kaesong. While inter-Korean relations r
Nov. 7, 2023
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S. Korea retakes No. 1 spot in global shipbuilding orders in Oct.
South Korea regained the top spot in new global shipbuilding orders for the first time in three months in October, industry data showed Tuesday. Local shipyards clinched orders totaling 1.54 million compensated gross tons to build 18 ships, accounting for 62 percent of the global total of 2.49 million CGTs last month, according to London-based Clarkson Research Services. The world total decreased 44 percent from the same month a year earlier. China placed second with 820,000 tons to construct 34
Nov. 7, 2023
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LG Uplus Q3 net income down on higher costs
LG Uplus Corp., South Korea's No. 3 mobile carrier, said Tuesday its third-quarter net profit decreased 8.3 percent from a year earlier despite overall growth in sales due to an increase in costs, in particular, electricity rates. Its net income stood at 156.7 billion won ($120.8 million) in the July-September period on a consolidated basis, compared with 170.8 billion won for the same period last year, the company said in a regulatory filing. Operating income was 254.3 billion won, down 10
Nov. 7, 2023
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SK Ecoplant to supply advanced fuel cells to Irish data center
South Korean energy and environmental solutions provider SK Ecoplant said Monday that it signed a partnership with Lumcloon Energy, an Irish power generation firm, to supply solid oxide fuel cells for a new data center in Castlestown, Ireland, marking a step toward greener energy utilization in European data centers. On Thursday, SK Ecoplant had a signing ceremony with Lumcloon Energy to integrate fuel cell technology for a new data center located approximately 80 kilometers west of Dublin. This
Nov. 6, 2023
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BAT design chief stresses responsible design
Global tobacco giant British American Tobacco Group discussed its future design strategies during a design conference held in Seoul last week, highlighting the social and ethical responsibilities industrial designers must undertake when designing heating tobacco products, according to the company on Monday. "The role of designers is changing, from simply designing products to assuming social and environmental responsibilities. This (new role) is not a choice for individual designers to mak
Nov. 6, 2023
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SK Bioscience ramps up global cooperation to improve public health
South Korean pharmaceuticals firm SK Bioscience is ramping up efforts to enhance cooperation with global health care officials, especially in the biopharmaceuticals field in the post-pandemic era. According to the company on Monday, Jean Kaseya, director general of the Africa Centers for Disease Control and Prevention, visited the Korean firm's headquarters on Friday to discuss collaborative measures supporting African countries in developing their own vaccines. During the meeting, the tw
Nov. 6, 2023
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LG Electronics opens Alaskan lab to develop HVAC tech in extreme weather
LG Electronics announced Monday that it has launched a research facility in Alaska to enhance the resilience of modern heating and cooling systems, collectively known as HVAC systems, in extremely cold conditions. The LG Advanced Cold Climate Heat Pump Laboratory is part of a collaboration that includes the University of Alaska Anchorage and the University of Alaska Fairbanks. The partnership, made official on Monday as the Consortium for Advanced Heat-pump Research, will tackle the challenge of
Nov. 6, 2023
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Daewoong aims to reshape obesity market with patch-type treatment
Daewoong Pharmaceutical said Monday the company will develop a microneedle-based obesity treatment drug. The South Korean pharmaceutical company aims to start a phase 1 clinical trial next year and launch the treatment in 2028. Daewoong Pharmaceutical’s new obesity treatment will contain a synthetic peptide semaglutide, which is similar to glucagon-like peptide-1 (GLP-1), a hormone produced in the gut released in response to food to reduce appetite and the release of insulin. The patch-typ
Nov. 6, 2023
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S-Oil awards citizen heroes of this year
South Korean oil refiner S-Oil said Monday it had delivered 140 million won ($107,700) and citizen honor awards to recognize 21 citizens who accomplished feats of heroism by risking their lives to help others this year. Under the partnership with Korea National Council on Social Welfare, the 2023 Hero Neighbors Award ceremony was held at S-Oil headquarters in Seoul, on Monday. A 58-year-old bus driver identified by his family name of Lee, who died while saving his passengers in Osong, North Chun
Nov. 6, 2023
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Stock market soars as short selling ban takes effect
Korean stocks surged Monday on the expectation that investors will start to cover their short positions after the country’s financial authorities banned short selling. The main Kospi bourse climbed 5.66 percent, or 134.03 points, from the previous trading day to close at 2,502.37. The secondary Kosdaq jumped 7.34 percent, or 57.4 points, to close at 839.45. Earlier in the day, the buying pressure prompted sidecar curbs on the Kosdaq for the first time in more than three years. The five-m
Nov. 6, 2023
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Korean commercial banks mull financing arms export to Poland
South Korean commercial banks are considering loan syndication for the Polish government to finance a weapons purchase deal worth 30 trillion won ($23.1 billion) with Korean arms companies, as state-run banks hit their loan limit for the contract. South Korea's Ministry of Defense on Monday held a meeting with officials from five top local banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- to discuss providing loans to the Polish government for an arms export deal, according to sou
Nov. 6, 2023
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Samsung family to sell stakes worth W2.6tr to pay tax
Family members of Samsung Group, South Korea’s biggest conglomerate, are selling stakes worth some 2.57 trillion won ($1.97 billion) to pay their inheritance tax bill, according to a regulatory filing on Monday. Hong Ra-hee, the widow of the late former Samsung Group Chairman Lee Kun-hee, and her two daughters, Lee Boo-jin and Lee Seo-hyun, signed a trust contract with Hana Bank to dispose of stakes worth about 2.57 trillion won combined, on Oct. 31. The Samsung heirs began their five-year
Nov. 6, 2023
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CJ debuts K-food delivery service in UK
South Korean food giant CJ CheilJedang announced Monday that it has launched the delivery service brand “Bibigo to-go” in the United Kingdom, in an effort to ramp up Korean food’s presence in the global market. Under a partnership with the UK-based food brand operator Peckwater Brands, Bibigo to-go is now available on major food delivery platforms including UberEats, Deliveroo, and Just Eat. The menus were mainly developed from the Bibigo products sold in the UK. Before the off
Nov. 6, 2023
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Coupang opens 2nd fullfillment center in Taiwan
South Korea’s e-commerce giant Coupang said Monday it has opened its second logistics center in Taiwan a year after starting its foray into the market, with plans to launch a third one in the first half of next year. The new fulfillment center, located in the northwestern city of Taoyuan, is a highly automated facility using artificial intelligence and machine learning to predict and analyze customer demand and inventory. The inaugural ceremony of the second fulfillment center was held in
Nov. 6, 2023