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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Taking away phones during school hours not a human rights violation: watchdog
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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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Jay Park returns with quintessential R&B album after 8 years
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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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Netflix's latest runaway hit is a Korean reality cooking show
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[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
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Korea Aerospace Industries Q2 net profit down over 80 pct due to investment in new businesses
Korea Aerospace Industries Ltd. (KAI), South Korea's sole aircraft manufacturer, on Monday reported its second-quarter net profit plunged 80.3 percent from a year earlier mainly due to investment in new businesses. Net profit for the three months ended in June was 9.9 billion won (US$7.6 million), according to the company's regulatory filing. The operating income for the April-June period fell 75.6 percent on-year to 8.4 billion won, while sales increased 9.7 percent to 733.5 billion
Aug. 7, 2023
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CJ Cheiljedang Q2 net profit nearly halves on global economic slowdown, cost burden
South Korean food giant CJ Cheiljedang Corp. said Monday its second-quarter net profit plunged almost 50 percent from a year earlier due to a global economic slowdown and higher cost burden. Net profit for the three months ended in June was 127.5 billion won ($97.6 million), down 49.6 percent from the same period last year, the company said in a regulatory filing. The operating income for the April-June period fell 31.7 percent on-year to 344.6 billion won, and revenue decreased 4 percent to 7
Aug. 7, 2023
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[KH Explains] Are women well represented in clinical trials?
Efforts are underway to consider sex differences in drug development by increasing woman’s participation in clinical trials, but the lack of regulatory guidelines remains a barrier to taking gender diversity into account, experts say. The COVID-19 pandemic and South Korea’s vaccination programs have shed light on how a disease and its treatment can affect men and women differently. According to the Korea Disease Control and Prevention Agency’s data, the percentage of female pat
Aug. 7, 2023
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Korean companies offer support for Scouts
Korean companies have stepped up efforts to support the World Scout Jamboree as the event's host announced an early withdrawal from the campground in North Jeolla Province due to inclement weather on Monday afternoon. Some major conglomerates, including Samsung and Hyundai, have invited Scouts to their business sites, following President Yoon Suk Yeol's order to offer tour programs for the jamboree participants. Hyundai Motor Group on Monday opened its commercial vehicle plant in Jeonj
Aug. 7, 2023
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Osaka, Tokyo two most popular destinations in H1
Japan’s Osaka and Tokyo were the two most popular outbound destinations for South Korean travelers in the first half of this year, according to government data Monday. Data from the Ministry of Land, Infrastructure and Transport showed that the route connecting Incheon Airport and Osaka’s Kansai International Airport was the most popular flight route in the January-June period with about 1.7 million passengers. The second busiest international flight route was the Incheon-Tokyo (Nar
Aug. 7, 2023
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[Photo News] Power demand nears peak
Real-time electricity usage is displayed at the Korea Electric Power Corp.’s Seoul branch on Monday. Electricity demand is expected to peak this week, amid a record-breaking heat wave that has persisted nationwide. The government said it will closely monitor the supply situation to prevent any interruptions. (Yonhap)
Aug. 7, 2023
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K-water offers accommodation, transportation for Singaporean scouts
Korean Water Resources Corp. (K-water) has provided one of its buildings in Daejeon to accommodate scouts from Singapore after they left the World Scout Jamboree campsite in Saemangeum, North Jeolla Province due to safety concerns last Saturday. During the 65 Singaporean scouts' stay at the institute for five days, K-water provided them with tour programs to explore the industry, culture, history and nature of Daejeon and South Chungcheong Province. On Monday morning, the scouts visited the
Aug. 7, 2023
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LG Display named as Bosch’s top supplier
LG Display announced Monday that it has won a Bosch Global Supplier Award for its technological prowess, becoming the first company in the industry to gain global recognition in the automotive display sector. The Bosch Group, the world’s No. 1 automotive parts manufacturer, reserves the award for only 46 suppliers from the pool of its 35,000 global partners worldwide. Since 1987, the award has recognized outstanding performers in the manufacturing and supply of raw materials, products and
Aug. 7, 2023
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Carrot Insurance hires ex-Apple AI specialist as CTO
Carrot General Insurance, the nation’s largest digital insurer, said Monday it has hired Lee Jin-ho, a former Apple specialist in artificial intelligence and machine learning, as its new chief technology officer. "Incorporating my expertise and experience gained in Silicon Valley, I am committed to supporting Carrot General Insurance in its transformation into a data-driven platform business," Lee said in a statement. Carrot General Insurance is a joint venture set up by Hanwha G
Aug. 7, 2023
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SK Nexilis to supply copper foil to German battery maker Varta
SK Nexilis Co., a South Korean copper foil maker, said Monday it has signed a deal with German battery manufacturer Varta A.G. to exclusively supply its product for what will be Varta's first mass production of electric vehicle batteries. SK Nexilis said it is also in talks with Varta over a possible long-term supply agreement, at least for over five years, considering the potential additional demand from Varta should it increase production. SK Nexilis did not provide any further details ab
Aug. 7, 2023
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KB chief decides not to seek reappointment
KB Financial Group Chief Yoon Jong-kyoo has decided not to seek his fourth term, the group said on Sunday, just days before the conglomerate's planned announcement of its shortlist of candidates for the head position. Yoon said he made the decision for the group's "new future and transformation." The incumbent chairman has held the post since 2014 and his three-year-long third term is set to expire on Nov. 20. Yoon also hoped to see a new chief driving sustainable growth, ena
Aug. 6, 2023
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KB gets final nod to launch new unit in Cambodia
KB Kookmin Bank said on Sunday that it has received final approval to merge its two affiliates in Cambodia ― Prasac Microfinance and Kookmin Bank Cambodia ― on Friday. This announcement came after the bank sought the green light from Cambodian authorities to merge its two affiliates and launch a new commercial bank, KB Prasac Bank, in early 2022. Preliminary approval for this new commercial bank was granted July 16. In 2009, KB Kookmin Bank made its initial entry into the Cambodian market with t
Aug. 6, 2023
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Hana joins hands with State Bank of India to bolster global business
Hana Financial Group announced on Sunday that it had signed a contract with the State Bank of India to establish a strategic partnership, aiming jointly to expand their global business. The SBI is India's largest government-owned commercial bank, operating in 25 different regions worldwide, including the US and China. This partnership came after the two financial firms conducted a sideline business meeting during the 56th annual meeting of the Asian Development Bank Board of Governors in Ma
Aug. 6, 2023
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Energy demand hits peak this week amid heat wave
Electricity demand is expected to reach its peak nationwide in the next two days as South Korea grapples with a record-breaking heat wave that was raised to the highest alert level Tuesday. Electricity usage in South Korea is projected to reach 92.9 gigawatts both on Monday and Tuesday, to record the highest level this summer, according to the data from the Ministry of Trade, Industry and Energy released Sunday. As the use of air conditioning increases especially at businesses amid the scorchi
Aug. 6, 2023
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Hotel Shilla CEO Lee Boo-jin becomes director of family-run scholarship foundation
Lee Boo-jin, the president and chief executive of Hotel Shilla, has been appointed as the director of the Dooeul Scholarship Foundation, local reports said Friday. The Dooeul Scholarship Foundation was established in commemoration of Park Doo-eul, the late founder of Samsung Lee Byeong-cheol’s wife in 2000. Lee In-hee, an advisor to Hansol Group and an elder sister of Samsung Group Chairman Lee Kun-hee, ran the foundation until 2019 until she passed away. Since 2019, the director post has
Aug. 4, 2023
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Hyundai Card tops brand reputation among credit cards in August
Hyundai Card topped the brand reputation chart in August, followed by Shinhan Card and Samsung Card, in a monthly ranking announced by Korea Corporate Reputation Research Institute on Friday. The institute announces the Brand Reputation Index every month, analyzing big data information based on consumer trends online. It looks at six indices which include participation, media, communication, community, social contribution and CEO to evaluate the ranking of the credit card brands. The brand reput
Aug. 4, 2023
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Naver marks record operating earning in Q2, net profit jumps 80%
Naver, South Korea’s largest online portal, logged a record quarterly operating profit in the April-June period, backed by its strong performance in commerce, financial technology and content, the company said Friday. In a regulatory filing, the internet giant reported its sales posted 2.4 trillion won ($1.83 billion) in the second quarter this year, increasing 17.7 percent on-year and 5.6 percent compared to the previous quarter. The company’s operating profit stood at 372.7 billion
Aug. 4, 2023
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Department stores on high alert amid copycat crime threats
South Korean department stores on Friday boosted security measures after copycat crime threats went viral online, following a stabbing rampage at a department store in Bundang, Gyeonggi Province on Thursday. Lotte Property & Investment, one of the leading department store operators here, on Friday dispatched a security team of 130 members to the area around Lotte Tower near Jamsil Station. Lotte added it has also sent three anti-terrorism agents to search the area. Jamsil Station was one of
Aug. 4, 2023
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[Contribution] Koreans, be proud of your beers
By Ben Verhaert Oriental Brewery CEO Now is the best season for enjoying a refreshing beer, and Aug. 4 is International Beer Day and I would like to speak for beers today, especially for Korean beers. As one of the oldest human-produced drinks, the beer has many charm factors which have allowed humankind to enjoy it for so long as 8,000 years. First of all, beer is inclusive. Men and women across geographies and socioeconomic groups enjoy having a beer with friends. Beer has always been a great
Aug. 4, 2023
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Prices of warehouses in greater Seoul plunge over 20%
Real estate prices of logistics centers in the greater Seoul area in the first half of this year have dropped over 20 percent from the previous six month period, amid an oversupply of such facilities and a sluggish economy, according to a local report released on Thursday. According to real estate market research firm Rsquare's report, the average price of a plot of land measuring 3.3 square meters used by logistics centers in Seoul and the surrounding area came to 5.96 million won, down 23
Aug. 3, 2023