Most Popular
-
1
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
2
S. Korea, Singapore seal supply chain agreement
-
3
Korean language teaching expert says demand has outstripped supply
-
4
Korea added to key bond index
-
5
Conscripting women to lead to 'more babies,' claims military think tank
-
6
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
7
North Korea notifies UN Command of plans to fortify border with South
-
8
Taking away phones during school hours not a human rights violation: watchdog
-
9
Who is pollster roiling politics with claims of government string-pulling?
-
10
Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
-
Posco chief bolsters ties with global partners
Posco Group Chairman Choi Jeong-woo held a series of meetings with key investors and business leaders in his recent visit to the US and Canada in a bid to strengthen ties, according to the company. Choi delivered a keynote speech at the Global Steel Dynamics Forum held in New York on Tuesday, during which he discussed the trends facing the steel industry and stressed the need for cross-border solidarity to seek sustainable growth. Organized by World Steel Dynamics, the forum was attended by glob
June 28, 2023
-
LG’s market cap triples under Koo's leadership
LG Group, South Korea’s fourth largest conglomerate, has seen its market capitalization triple and sales jump about 30 percent under the leadership of Koo Kwang-mo, who marks his fifth anniversary as the group's chairman on Thursday. With bold decisions to restructure the business portfolio and concentrate investment in key areas of automotive solutions and energy, and future technologies, Koo appears to be solidifying his leadership after he took office on June 29, 2018, following th
June 28, 2023
-
Samsung unveils foundry road map to take on TSMC
Samsung Electronics, the world’s largest memory chipmaker, on Tuesday unveiled a new foundry business road map, saying it will expand the adoption of the 2-nanometer manufacturing technology in phases to mobile applications by 2025, high-performance computing by 2026 and automotive chips by 2027. The bold plan comes as Samsung, a distant No. 2 in terms of foundry sales after Taiwan Semiconductor Manufacturing Co., is investing heavily to boost its burgeoning foundry business and narrow the
June 28, 2023
-
[Best Brand] Uptown Cocktails jazzes up Korean drink market
Uptown Cocktails, a leading cocktail brand in the US, has hit the Korean market with its high-quality products with vibrant designs while delivering a memorable taste. Southern Champion, the brand’s producer, and The IB Korea, the wholesale retailer for the brand, have brought the Uptown Margarita, Blue Hawaiian and Pina Colada flavors to South Korea, which are now available for purchase. Another flavor, Caribbean Punch, will also be available in the second half of the year. Uptown Margari
June 28, 2023
-
[Best Brand] Jojo Kalguksu aspires to be leading hearty soup restaurant
Jojo Kalguksu, a brand that specializes in Korean knife-cut noodles, or kalguksu, has been gaining popularity among customers who crave the hearty noodle dish. The brand has four restaurants in its hometown of Daegu, North Gyeongsang Province, and two restaurants in Seoul. The first branch was established in Daegu in 2017, and the most recent branch opened this March in Seongsu-dong, a popular hotspot among the youth in Seoul. Jojo Kalguksu also sells kalguksu meal kits for people to cook and en
June 28, 2023
-
[Photo News] Samsung Gangnam unveiled
Samsung Electronics on Wednesday held a media tour of its new five-story flagship store, called Samsung Gangnam, in southern Seoul before Thursday’s official opening. Boasting 2,000 square-meter floor space, the facility allows visitors to experience and purchase Samsung’s latest mobile devices and their limited editions as well as join cultural and self-enrichment programs. Calling it “a playground for MZ generation,” Samsung said it will ramp up efforts to better commun
June 28, 2023
-
[Best Brand] Beating summer heat with Pocari Sweat
Dong-A Otsuka, South Korea’s leading beverage maker, initiated a campaign with the government to promote nationwide efforts in overcoming this summer’s expected heat waves. The company announced that it launched the second annual "Beat the Heat Campaign" from June 22 to 23 in collaboration with the Ministry of the Interior and Safety and the Korean Red Cross, following the first campaign held last year. The company kicked off the event at the Olympic Park Foreon in Gangdong
June 28, 2023
-
CJ Logistics, KOBC to invest W600b to open 3 new logistics centers in US
CJ Logistics Corp., a major South Korean logistics company, said Wednesday it will invest 600 billion won ($461.7 million), along with the Korea Ocean Business Corp., to build three new logistics centers in the United States by 2027. CJ Logistics and the KOBC signed a memorandum of agreement for what they call the "North America project" at the logistics company's US branch office in Illinois last week. Under the project, the centers will be built near the distribution hubs of Chi
June 28, 2023
-
HD Hyundai Electric scores W290b contracts in US, Europe
HD Hyundai Electric, an energy solution provider under HD Hyundai, has secured two orders worth about 290 billion won ($223 million) to supply eco-friendly electric equipment in the United States and Europe, the company said Tuesday. HD Hyundai Electric struck a 213.6 billion won deal to provide its electric power transformer to US energy firm Xcel Energy, marking the largest contract for a single product since the company’s spinoff from Hyundai Heavy Industries in 2017. The high-electrici
June 27, 2023
-
Japan restores South Korea to export 'whitelist' after 4 years
Japan is putting South Korea back on its “whitelist” of trusted trading partners, marking the end to a trade dispute that had dragged on for four years, as the two sides have renewed a commitment to improve bilateral economic ties. Japan’s Ministry of Economy, Trade and Industry announced Tuesday it has decided to redesignate Korea as a "Group A" country, returning to Seoul the preferential export treatment it had enjoyed until 2019. “The Republic of Korea will
June 27, 2023
-
Government raises limit for overseas remittances
The annual limit for overseas remittances without the need for additional documentation will be raised from $50,000 to $100,000 from July 4, following the passage of an amendment to the current limit on Tuesday. The current limit was created back in 1999 when the foreign exchange transaction-related law was first established. The changes are intended to reflect economic growth, according to the government. An amendment to the current law, which includes among other measures the increased limit f
June 27, 2023
-
JB Financial celebrates 10th anniversary
JB Financial Group celebrated its 10th anniversary with an event held in Muju-gun, North Jeolla Province, according to the financial firm on Tuesday. The event on Saturday, held under the slogan, "10 Years of Partnership, New Leap," was attended by over 3,500 executives and employees, including JB Financial Group Chair Kim Ki-hong, Jeonbuk Bank CEO Baek Jong-il, Kwangju Bank CEO Ko Byung-il, JB Woori Capital CEO Park Chun-won, JB Asset Management CEO Choi Won-cheol and JB Investment CE
June 27, 2023
-
Seoul ups the ante against 'ramen inflation'
The South Korean government on Monday met with local milling companies, upping the pressure on them to lower wheat prices in the fight on inflation, especially for daily food items such as instant noodles and milk. The Ministry of Agriculture, Food and Rural Affairs held a closed-door meeting Monday afternoon with officials from local milling firms including Daehan Flour Mills Corp., CJ CheilJedang and Samyang – the big three players in the industry. A ministry official declined to put too
June 26, 2023
-
Korean firms fight talent exodus as chip tech war intensifies
A former Samsung employee was banned from moving to US rival Micron Technology after the Korean tech giant took the issue to court amid growing concerns over illicit tech transfer. Seoul Central District Court on Sunday accepted Samsung Electronics’ petition for an injunction to ban a key employee from moving to US chip rival Micron Technology just three months after quitting the Korean chipmaker. "DRAM technology is designated as national strategic technology and protection of the te
June 26, 2023
-
Hyundai Card bolsters ties with Visa in digital push
Korean credit card issuer Hyundai Card and Visa, a world leader in digital payment, on Monday announced that they have signed a strategic business partnership deal to collaborate on businesses using analyzed data. The partnership signing ceremony was held at Visa’s headquarters in San Francisco on Wednesday with top executives, including Hyundai Card Vice Chairman and CEO Chung Tae-young and Visa CEO Ryan McInerney in attendance. “Hyundai Card and Visa have agreed to prioritize colla
June 26, 2023
-
LG Chem begins mass production of single-crystal cathodes
LG Chem said Monday that it has begun mass production of high-nickel single-crystal cathode materials for next-generation batteries at its plant in Cheongju, North Chungcheong Province, making it the first Korean company to do so. "High-nickel single crystal cathode materials are an innovative solution that will transform the landscape of the future battery material market and address customers' needs,” said Vice Chairman and CEO Shin Hak-cheol. Cathodes are a core component that
June 26, 2023
-
Samsung chief touts ‘meaningful trip’ to France, Vietnam
Samsung Electronics Executive Chairman Lee Jae-yong returned home Saturday after a seven-day business trip to France and Vietnam. He accompanied President Yoon Suk Yeol on his latest state visits to the two countries. As Lee arrived at Seoul Gimpo Business Aviation Center later in the day, he smiled and told reporters that it was “a meaningful itinerary.” But the Samsung chief declined to answer any of them when he was asked about the possibility of Busan’s winning to host the
June 25, 2023
-
[Herald Interview] Korea an ideal landing spot for megasized data centers
John Pritchard, the head of the tenant advisory group and global services at Cushman & Wakefield Korea, calls Korea a competitive investment destination for hyperscale data centers -- enormous tech complexes with soaring demand for data processing and storage in the burgeoning era of artificial intelligence. “The Korean market is primed for hyperscale data center investment,” the executive at the Korean unit of the US commercial real estate services firm told The Korea Herald in
June 25, 2023
-
Samsung's chip biz, SK hynix to remain in the red in Q2 amid weak chip demand
SK hynix Inc. and the chip division of Samsung Electronics Co. are expected to post quarterly losses in the second quarter after reporting losses in the previous three months as the chip downturn drags on, market data showed Sunday. Samsung Electronics is projected to report an operating profit of 100.4 billion won ($76.5 million) for the April-June period, a 99.3 percent drop from the 14.09 trillion won operating income it registered a year earlier, according to a median estimate based on the o
June 25, 2023
-
Korean companies eye new business opportunities in Vietnam
Accompanying South Korean President Yoon Suk Yeol on his state visit to Vietnam as part of the presidential delegation, South Korean companies were seen ramping up their business ties in the Southeast Asian country. In a banquet inviting his largest economic delegation on Thursday, Yoon urged the business leaders to take the lead to explore new business opportunities with Vietnam, which is South Korea's third-largest trading partner. "New opportunities are being created for South Korea
June 23, 2023