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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[Herald Interview] Ballantine’s master blender on new whisky expression full of memories
Sandy Hyslop, the master blender behind Ballantine’s, visited South Korea to celebrate the global launch of the first edition of Pernod Ricard's premium whisky series, the 40 Year Old Masterclass Collection. Marking his 40 years in the industry this year, Hyslop is widely known as the master blender of Ballantine’s, the Glenlivet and Chivas Regal. His job is to check the quality of what distilleries produce every single week, create new whiskies and manage the continuity and fla
April 25, 2023
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[Herald Interview] 2023 Procurement Expo to fuel post-pandemic growth
The Public Procurement Service is gearing up to host the Korea Public Procurement Expo 2023, an annual event which will serve as a platform for companies to showcase their products and technologies and broaden their global footprint in the aftermath of the COVID-19 pandemic. “The 23rd Korea Public Procurement Expo boasts the largest-ever turnout with over 560 companies and upwards of 1,000 booths,” PPS administrator Lee Jong-Wook said in an interview with The Korea Herald. The Public
April 25, 2023
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Meritz ascends to become No. 3 financial group
Meritz Financial Group on Tuesday completed the process of incorporating its nonlife insurance and brokerage affiliates into the group, making it the third-largest financial conglomerate in Korea. After the consolidation, the group's market capitalization is expected to extend to over 9 trillion won ($6.73 billion). Only KB Financial Group (19.85 trillion won) and Hana Financial Group (12.31 trillion won) are estimated to have higher market capitalizations. The group's decision to in
April 25, 2023
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S. Korean economy avoids recession in Q1; outlook dims amid weak exports
South Korea's economy narrowly avoided a recession in the first quarter of the year after a contraction the previous quarter, central bank data showed Tuesday. The economy grew 0.3 percent in the January-March period from the previous quarter, according to the preliminary data compiled by the Bank of Korea. The first-quarter expansion follows a 0.4 percent on-quarter contraction the previous quarter. Technically, two consecutive quarters of economic contraction are judged to be a recession.
April 25, 2023
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LG Innotek wins Edison Award for ultraslim TV technology
LG Innotek announced Monday it won the 2023 Edison Award in the commercial technology category for its ultrathin Nexlim magnetic component, which plays a crucial role in developing slim high-definition TVs. The world's thinnest magnetic component is used in TV power modules and vehicle chargers for voltage regulation and signal filtering. It improves energy efficiency in electronics and electric vehicles by reducing heat-induced power loss. LG Innotek started related research in 2017 as it
April 24, 2023
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[K-Financiers] KB Global Fintech Lab acts as catalyst for startups' Asia expansion
KB Global Fintech Lab is at the forefront of supporting South Korean startups to have Singapore as a launchpad and make their way into other overseas markets. At the same time, KB, the Korean banking giant, aims to seek new business opportunities in the Southeast Asian country’s sprawling digital finance sector. "Although some in-house teams for digitalization exist in our company, it's difficult to develop and create everything on our own. As a result, we are now supporting st
April 24, 2023
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Samsung, SK under renewed pressure to join US chip battle against China
South Korean chipmakers are facing increasing pressure amid an intensifying US-China rivalry, as Washington has reportedly requested the Korean government to hold back from filling China's shortfalls in chips. Seoul’s presidential office refused to comment Monday over a report from the Financial Times that the White House had asked the Korean government to urge its chipmakers to "not fill any market gap" in China, if Beijing bans US-based Micron Technology from selling chips
April 24, 2023
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SK On invests W470b to bolster domestic R&D
SK On will invest 470 billion won ($352 million) in expanding its domestic research and development capabilities through 2025, the South Korean battery maker said Monday. According to SK On, the company will upgrade its existing R&D foothold in Daejeon, also known as the Institute of Battery Technology, and newly establish a pilot plant for developing next-generation batteries and a global validation center at the same site. Parts of the investment plan have already begun, as the battery mak
April 24, 2023
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Netmarble to make big China push this year
South Korean online game developer Netmarble said Sunday that the Chinese authorities have recently granted a service license to distribute a new online game based on its mobile role-playing game, “StoneAge World.” China’s National Press and Publication Administration, the agency in charge of licensing new video games, on Thursday released a list of 86 foreign games that have gained approval for domestic distribution. One of the newly approved games is “StoneAge: Awakenin
April 24, 2023
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Posco named sustainability champion for 2 years in row
South Korean steelmaker Posco Group said Sunday it has been selected as the sustainability champion by the World Steel Association for two consecutive years, one of the industry’s top honors. Since 2018, the WSA has selected sustainability champions among its 140 member companies to recognize environmental, social and corporate governance efforts. Posco was one of the 10 companies selected this year. In order to win the recognition, companies are required to be selected as a sustainability
April 24, 2023
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Yoon joined by chaebol leaders on US trip amid concerns of protectionism
South Korea’s top conglomerate chiefs are heading to the US this week to accompany President Yoon Suk Yeol on his state visit, hoping to find a breakthrough in business uncertainties surrounding increasingly protectionist policies in the all-important market. Taking his biggest economic delegation to date in his weeklong state visit to the US from Monday, Yoon is expected to relay the difficulties Korean companies face with the US' introduction of the CHIPS and Science Act and Inflati
April 23, 2023
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[Photo News] Samsung's Ramadan offers
Visitors try out Samsung Electronics devices at Samsung's pop-up store at Dubai Mall in Dubai, Friday. The pop-up store, marking the Eid Al Fitr, offers hands-on experiences of Samsung's latest mobile devices and home appliances, and SmartThings, its smart home platform.
April 23, 2023
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Samsung Electronics likely headed for first quarterly loss in nearly 15 years: analysts
Samsung Electronics Co. is likely to post an operating loss in the second quarter on a chip downturn and decline in mobile demand, in what will be the first quarterly loss for the world's largest memory chip maker in nearly 15 years, according to analysts Sunday. Samsung Electronics could suffer an operating loss of as much as 1.28 trillion won ($961 million), according to an estimate by Hi Investment & Securities Co. Among the local brokerages that gave a similar outlook, SK Securities
April 23, 2023
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Apple Pay triggers surge in Hyundai Card users
Hyundai Card, the first partner of Apple Pay in South Korea, saw a 75 percent on-month increase in the number of its new card users during the first month since the payment service launched in Korea. The number of new Hyundai Card members has increased by 203,000 following the launch of Apple Pay in Korea on Mar. 21, according to data from the Credit Finance Association of Korea. The number of new members of Hyundai Card in March was the highest among eight local credit card companies -- Lotte,
April 21, 2023
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[Photo News] Samsung honors Korean War heroes
A video featuring Korean War heroes is displayed on a giant outdoor billboard Samsung Electronics set up in Times Square in New York on Thursday. Samsung released the video to mark the 70th anniversary of the South Korea-US alliance and the 1953 armistice agreement that brought about a cessation to the Korean War.
April 20, 2023
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[Photo News] LG honors Korean War heroes
A video featuring 12 high-profile US and South Korean war veterans plays on LG Group’s giant billboard in the heart of Times Square in New York on Thursday. South Korea’s Ministry of Patriots and Veterans Affairs made the video in commemoration of the 70th anniversary of the Korea-US alliance this year.
April 20, 2023
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Diageo Korea, British Embassy to sponsor Chevening Scholarships until 2026
Diageo Korea said Thursday that it has signed a memorandum of understanding with the British Embassy in Seoul to extend sponsoring the UK government's global scholarships program. Through the extension, the Korean unit of the British drinks group plans to continue to help foster global leaders in Korea until 2026. The Chevening Scholarships are a global scholarship program organized by the British Ministry of Foreign Affairs. They are awarded to talented people with excellent academic backg
April 20, 2023
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Korea eyes W20tr boost for secondary battery sector through 2030
South Korea will invest 20 trillion won ($15 billion) in research and development of secondary batteries for electric vehicles through 2030 to secure global competitiveness, the government said Thursday. "Secondary batteries are among the country’s crucial strategic assets, along with semiconductors. Their importance cannot be stressed enough. Secondary batteries are at the center of the global competition for technological supremacy. It is the power of EVs in times of carbon neutrali
April 20, 2023
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Hyundai Engineering, SK Ecoplant to cooperate on pink hydrogen
Hyundai Engineering announced Thursday that it has agreed to work with US-based reactor and reactor fuel developer Ultra Safe Nuclear Corporation and SK Ecoplant to develop a pink hydrogen production system. Pink hydrogen refers to hydrogen produced by using nuclear power to electrolyze water, splitting hydrogen from oxygen for use as a fuel. On Thursday, the companies signed a three-way memorandum of understanding at SK Ecoplant’s headquarters in central Seoul. Under the agreement, the th
April 20, 2023
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Samsung, LG resume talks on OLED partnership
Talks for a rare partnership between Samsung and LG appear to have been resumed recently as Samsung seeks to buy LG panels for its latest OLED TVs for the first time, according to industry sources on Thursday. “The two have resumed related talks ... with an aim to sign a deal by the end of the first half this year,” an industry source said on condition of anonymity. Samsung Electronics is reportedly interested in buying around 200,000 to 300,000 white OLEDs from LG Display, and when
April 20, 2023