Most Popular
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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S. Korea, Singapore seal supply chain agreement
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Korean language teaching expert says demand has outstripped supply
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Korea added to key bond index
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Conscripting women to lead to 'more babies,' claims military think tank
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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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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Who is pollster roiling politics with claims of government string-pulling?
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Naver upgrades search engine with AI
South Korean internet giant Naver has carried out an extensive renewal of the interface of its search engine to maximize user experience for super-personalized results based on artificial intelligence, the company said Friday. Naver, which operates the country’s No. 1 web portal and search engine, said it has optimized the platform for AI search, responding to rising competition with the emergence of generative AI. Naver adopted the “Air Search” algorithm for its search engine
May 26, 2023
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Posco completes steel plant in China to meet EV demand
South Korean steel giant Posco said Thursday that the company completed a new high-strength steel plant in China in a preemptive measure to respond to soaring demand from the burgeoning Chinese electric vehicle market. The new facility, located at Posco-CSPC (China Suzhou Processing Center), is a plant specialized in producing “Giga Steel,” the brand name for Posco’s advanced ultra-high tensile strength steel. The company said the advanced high-strength steel product can withst
May 25, 2023
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LG starts mass production of EV chargers
LG Electronics said Thursday it has kicked off mass production of electric vehicle chargers, officially tapping into the burgeoning market. Celebrating the production of its first EV charger, the company introduced four new models in the works at a ceremony at LG Digital Park in Pyeongtaek, Gyeonggi Province, Wednesday. During the event, the company announced the rebranding of its EV charger affiliate AppleMango to HiEV Charger. “The start of EV charger production marks a significant miles
May 25, 2023
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Korean food makers win legal fights against Chinese counterfeiters
Korean food makers have won in legal fights against Chinese counterfeiters in a series of lawsuits filed in China, according to the Korea Food Industry Association on Thursday. Of the total seven cases raised, the Chinese court recently ruled in favor of Korean firms in five cases at the first trial stage. Following the rulings, the Chinese companies in question are now required to pay compensation worth 250,000 yuan ($35,353) to CJ CheilJedang, 350,000 yuan to Samyang Food, and 200,000 yuan to
May 25, 2023
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Colliers Korea closes $780m in real estate deals
Colliers Korea, the Korean branch of the Canadian commercial real estate firm, said Wednesday that it has successfully closed three deals with a total value of $780 million. "By concluding these three transactions this month, my team has shown that there are still plenty of opportunities for the smart investors (in Seoul), despite the high-interest rate environment," Colliers Korea Managing Director Robert Wilkinson said in a statement. According to Colliers Korea, the deals encompass
May 25, 2023
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SK IE Technology secures $300m to expand production in Poland
Electric vehicle parts maker SK IE Technology has secured a green financing package loan worth $300 million from the International Finance Corp. for its planned production expansion in Poland. Of the total amount, two-thirds will come directly from the IFC, while the remainder will be offered by other private banks participating in the funding program. The newly secured investment will be used for the planned expansion of its lithium-ion battery separator (LiBS) plant in Poland, as part of its e
May 25, 2023
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Technical inspection of Nuri space rocket under way after postponed launch
South Korean aerospace engineers have been inspecting the country's homegrown space rocket Nuri on Thursday following the last-minute cancellation of the scheduled launch over a computer glitch. The launch management committee, which oversees the entire process, called off the launch of Nuri on Wednesday after the engineers detected a communications problem between a launch control computer and a launch pad facility control computer about three hours before liftoff. The Ministry of Science and I
May 25, 2023
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[Photo News] New ASM facility in Korea
Dutch semiconductor equipment maker ASM held a groundbreaking ceremony for its second Korean manufacturing research innovation center, which will consist of an additional production line and expanded research and development facilities, in Hwaseong, Gyeonggi Province, on Wednesday. ASM President and CEO Benjamin Loh (eighth from left), ASM Korea CEO Kim Yong-gil (first from right) and Pauline Van der Meer Mohr (sixth from left), ASM's supervisory board chair, attended the event.
May 24, 2023
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Hana Financial to spur biodiversity investment
Hana Financial Group Chairman Ham Young-joo pledged that the financial conglomerate will play proactive role in expanding investments in the biodiversity sector during an event held by the United Nations Environment Programme in Seoul on Wednesday. "We will fulfill our role as a financial institution in promoting environmental and social responsibility by formulating policies and expanding investments in the field of biodiversity conservation, which holds tremendous potential,” Ham sa
May 24, 2023
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Hanwha propels Nuri rocket project
Hanwha Group, South Korea’s seventh-largest conglomerate, stands at the forefront of the country’s efforts to grow and nurture its space industry, as Hanwha Aerospace became the first system integration company to lead the launch of the homegrown Nuri rocket. Hanwha Aerospace won the government bid in December to take charge of upgrading the Nuri rocket, also known as Korea Satellite Launch Vehicle-II, and launching it four times through 2027. The company signed a contract worth appr
May 24, 2023
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S. Korea asks US to give more leeway on chip expansion in China
South Korea has asked the United States to reconsider details of the guardrail provision of its CHIPS Act, to ease the regulations limiting Korean chipmakers from expanding their production capacity in China. In the comment unveiled by the US Federal Register on Tuesday, the Korean government has requested the US Commerce Department to review and clarify the guardrail provision, which limits the beneficiaries of its semiconductor boost program from expanding their production capacity in China an
May 24, 2023
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EU eases export rules on Korean ramen
The Ministry of Food and Drug Safety said Wednesday the European Union has decided to ease import regulations for Korean ramen products, 18 months after a mishap with a carcinogen in ramen imports sent to Europe. According to the ministry, the EU will be easing the inspection of ethylene oxide in imported Korean ramen products starting in July. EO, which is majorly used as a fumigant and sterilizing agent, is classified by the World Health Organization as a potential carcinogen. The EU strengt
May 24, 2023
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Biz outlook edges up for June on hope for corporate earnings, domestic recovery
South Korea's business sentiment slightly improved for June amid expectations that earnings in key sectors and domestic demand may improve, a central bank poll showed Wednesday. Local companies' business sentiment index for June came to 76, up from 74 tallied for the previous month, according to the survey by the Bank of Korea. The index measures corporate prospects for business conditions the following month. A reading below 100 means pessimists outnumber optimists. The rise appears t
May 24, 2023
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W14tr pledged to boost parts industry for future mobility
The South Korean government and major carmakers will jointly invest more than 14.3 trillion won ($10.9 billion) to promote the transition of the conventional auto parts industry to gear up for a "speedy" and "flexible" transformation for future mobility, the Industry Ministry said Tuesday. In a roundtable meeting of private auto and automotive parts companies, the Ministry of Trade, Industry and Energy announced a support measure under which the government and automakers will
May 23, 2023
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Demand for cold medicines soar as seasonal flu persists
Demand for cold medicines has increased recently, as the seasonal flu has continued longer than usual. With the spurt in cold and flu cases, sales of cold medicines have increased while some pharmacies face shortages, according to data from the government and local pharmaceutical companies on Tuesday. “Demand for over-the-counter cold medicines seems to be higher than usual, and some prescription medications for cold and flu are difficult to get,” a pharmacist operating a pharmacy in
May 23, 2023
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DSME rebranded as Hanwha Ocean
Hanwha Group, the new owner of Daewoo Shipbuilding and Marine Engineering, took the first step toward a fresh start for the shipbuilder by rebranding it to Hanwha Ocean at a shareholders meeting on Tuesday. This is the second rebranding in the world’s fourth-largest shipbuilder’s history spanning 45 years. The previous name change occurred in 1978, when DSME was acquired by the now-defunct Daewoo Group. At the shareholders' meeting at Daewoo Marine Ocean Plaza in Geoje, South
May 23, 2023
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ASM determined to expand investment in Korea: CEO
ASM, a global supplier of semiconductor wafer processing equipment, will break ground on its second headquarters in South Korea Wednesday, under expansion plans to boost research and production capacity of an advanced chip processing equipment solution it produces only in the country. Underscoring how South Korea already has the company’s third-biggest R&D and manufacturing facilities after the United States and Singapore, ASM President and CEO Benjamin Loh vowed to further invest to e
May 23, 2023
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Kakao, Saudi Arabia agree to expand partnership
South Korean internet giant Kakao Corp. announced Tuesday that it held talks with officials from the Saudi Tourism Authority on building mobile infrastructure to revitalize tourism in Saudi Arabia at the Kakao headquarters in Pangyo. Top executives from both sides, including STA’s President of APAC Markets Alhasan Aldabbagh, and STA’s Chief Technology Officer Choon Quek attended the meeting. Saudi Arabia has selected Korea as one of its strategic partners by presenting the "Saud
May 23, 2023
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Posco sweeps medals at Stainless Steel Awards
South Korean steel giant Posco said Tuesday it has won three medals for new stainless technologies at the Stainless Steel Industry Awards held by Worldstainless, a non-profit international association, earlier this month in Brussels. The company touted the latest feat as yet another recognition of its technical prowess following its gold medal win at the same awards last year. This year Posco was the only company to win all three medals -- gold, silver and bronze -- in the new stainless technolo
May 23, 2023
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[KH explains] Will Kakao Pay become Korea’s answer to Robinhood?
In a recent media event, Kakao Pay CEO Shin Won-keun unveiled the company’s ambitious goal of becoming a Korean version of Robinhood in its recent push for global expansion in partnership with Siebert Financial, the US brokerage firm. “We are considering making a solution that combines Siebert's stock trading solution with Kakao Pay Securities' mobile trading service,” CEO Shin said. “We believe we can become the next Robinhood with it." Robinhood is the re
May 22, 2023