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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Conscripting women to lead to 'more babies,' claims military think tank
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Korea added to key bond index
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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Who is pollster roiling politics with claims of government string-pulling?
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Taking away phones during school hours not a human rights violation: watchdog
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North Korea notifies UN Command of plans to fortify border with South
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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[Photo News] For Busan's expo bid
Posco International CEO Jeong Tak (second from bottom right), who heads Posco Group's task force for promotional activities for Busan's bid to host the 2030 World Expo, holds a meeting with Uzbek government officials in Fergana, Uzbekistan, Monday.
March 15, 2023
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Samsung to spend W60tr for balanced growth in rural areas
Key tech companies of Samsung Group, South Korea's largest conglomerate, will invest a combined 60.1 trillion won ($46.1 billion) over the next decade for the country’s manufacturing business in rural areas to pursue balanced regional development. This equates to about 10 percent of the South Korean government’s budget of 638 trillion won for this year. The spending plan by Samsung’s affiliates, including Samsung Electronics, Samsung Display, Samsung SDI and Samsung Electr
March 15, 2023
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Posco Chemical to present full battery components lineup at Seoul battery fair
Posco Chemical Co., a leading South Korean manufacturer of secondary battery materials, said Wednesday it is showcasing a full lineup of its cathode and anode products and related technologies at an international battery show this week. Posco Chemical will present high-nickel cathodes, a key component that determines the power of lithium-ion cells for electric vehicles, as well as cathodes for lithium iron phosphate batteries and cobalt-free cells at InterBattery 2023, set to kick off in souther
March 15, 2023
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S. Korea, Dutch trade ministers pledge to bolster ties on chips
Trade ministers of South Korea and the Netherlands on Tuesday agreed to further strengthen bilateral cooperation on various industries, especially in the semiconductors amid growing pressures from the US to curb investment in China. South Korean Minister for Trade Ahn Duk-geun met with Dutch Minister for Foreign Trade and Development Cooperation Liesje Schreinemacher to exchange views on the two countries' partnership on economic security. They agreed to further strengthen complementary c
March 14, 2023
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SPC Group names ex-Hotel Shilla exec as new PR chief
South Korean food and bakery giant SPC Group said Monday it has appointed Ha Joo-ho, former communications director of Hotel Shilla, as its new communications chief. Ha is a communications veteran who spent most of his career at Samsung companies. The 59-year-old graduated from Seoul National University with a degree in journalism. After joining Samsung Life Insurance in 1989, he served in diverse communications positions at Samsung’s key affiliates, including Samsung Group. He was promote
March 14, 2023
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Apple Store to open near 'Samsung Town' in Gangnam
US tech behemoth Apple said Tuesday it will open its fifth retail store in South Korea later this month, expanding its presence in the country, home to its archrival Samsung Electronics. Named Apple Gangnam, the store will open near the Shinnonhyeon Subway Station in southern Seoul on March 31. The location is less than a kilometer away from three skyscrapers owned by Samsung Group. The three buildings are home to Samsung’s financial units after Samsung Electronics relocated to an office b
March 14, 2023
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Toss Securities names TikTok marketing exec as new CEO
Toss Securities announced Tuesday that it has named Kim Seung-yeon, general manager of TikTok’s Southeast Asia global business solution, as its new CEO. Born in 1980, Korean American Kim is known to be a marketing expert with over 15 years of experience in the field. “Our current CEO Oh Chang-hoon wants to focus on his original CTO position and contribute to the firm further in that capacity. Although Oh still has remaining tenure, we have decided to name a new CEO,” a To
March 14, 2023
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Diplomacy urged to ease concerns over US CHIPS Act
South Korea's chip industry is feeling pressured to take a side between the United States and China in the two superpowers’ strategic rivalry, as Washington recently disclosed some "unusual" requirements for its $52 billion semiconductor funding program aimed at securing an upper hand against Beijing. Home to two of the world's largest memory chip makers, Samsung Electronics and SK hynix, the South Korean government has also raised concerns, as the US CHIPS and Scienc
March 13, 2023
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[KH Explains] Will Apple Pay-backed Hyundai Card renew credit card rivalry?
Ahead of the long-awaited Korean debut of Apple Pay later this month, all eyes are on whether Hyundai Card, the official partner of the mobile payment service for iPhones, will raise its market share to outpace bigger rivals Shinhan Card and Samsung Card. Credit card companies compete head-on in a crowded market here. According to the Credit Finance Association, Shinhan Card was the largest credit card issuer with 19.6 percent as of the fourth quarter of last year, closely followed by Samsun
March 13, 2023
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Samsung Pay boosts ties with Naver, Kakao to cement payment leadership
In an apparent move to counter Apple Pay’s long-awaited debut this month, Samsung Pay is seeking a stronger alliance with local mobile payment providers to consolidate its digital payment service's dominant position at home. Samsung Electronics has been in discussion with Kakao’s payment leg Kakao Pay over a potential partnership deal, seeking business synergy between the two popular payment services, according to industry sources on Monday. If the service integration is realize
March 13, 2023
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Hyundai E&C begins petrochemical project
Hyundai Engineering & Construction and Hyundai Engineering have officially embarked on a project to build the largest petrochemical facilities to date in the South Korean city of Ulsan. The plan, dubbed “the Shaheen Project,” is the construction of high value-added petrochemical production facilities in which South Korean oil refiner S-Oil has invested a whopping 9.3 trillion won ($7 billion). It is the largest investment made by Aramco -- a Saudi Arabian state-operated oil and g
March 10, 2023
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Daewoo E&C secures W1tr deal to build power plants in Libya
Daewoo Engineering & Construction announced Friday that the company has secured a deal to build gas-fired power plants in Libya. The construction deal, which Daewoo E&C signed with General Electricity Company of Libya, is worth $790 million (1 trillion won), the company added. Under the deal, Daewoo E&C will build gas-fired power stations in Libya’s Mellitah and Misurata regions. The construction order was made as the Libyan government needed additional power plants to manage i
March 10, 2023
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BlackRock emerges as Samsung Securities’ 3rd-largest shareholder
US-based investment management firm BlackRock has become the third-largest shareholder of South Korean brokerage house Samsung Securities, a filing showed Thursday. BlackRock’s 12 affiliated entities hold a total of 5.46 percent stake (4.87 million shares) in Samsung Securities as of Feb. 28, according to a disclosure filed with the Financial Supervisory Service. A minority shareholder with at least 5 percent of shares in a company is subject to filing obligations as a block holder of th
March 10, 2023
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TGS Group makes foray into art investment market
South Korean retail and finance company TGS Group said Thursday it has opened a boutique-style community center in Cheongdam-dong, southern Seoul, to introduce young artists and their artworks, and nurture experts in art investment. The new facility comes after TGS launched a new unit, named ArtFin, last month to start an art-related investment business, a burgeoning investment sector. ArtFin comes from the words "art" and "fintech." TGS said it pins high hopes on the recent
March 9, 2023
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JB rejects activist fund’s request for dividend expansion
South Korea’s JB Financial Group said Thursday that it is against activist fund Align Partners’ demand for dividend expansion. Align Partners, which holds a 14 percent stake in JB, is the financial firm's second-largest shareholder. “In order to boost shareholder benefits in a sustainable way, excessive dividend expansion could hurt corporate value as well as shareholder interests,” JB said in a statement. The latest announcement comes after Align Partners submitte
March 9, 2023
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LG sets up automotive R&D unit in Vietnam
LG Electronics said Thursday it has elevated its research and development center in Vietnam into a corporate entity as the tech giant seeks to further bolster its fast-growing automotive solutions business. The new unit, called LG Electronics Development Vietnam, will be in charge of developing and testing software for in-vehicle infotainment systems, one of the key products of LG’s vehicle solutions division. The IVI systems encompass telematics, audio, video and navigation solutions prov
March 9, 2023
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Ex-TSMC engineer joins Samsung’s chip packaging team
Samsung Electronics has hired veteran engineer Lin Jun-cheng, who previously worked at the tech giant’s foundry rival, Taiwan-based TSMC, according to local reports on Thursday. Lin was recently appointed as senior vice president of the advanced packaging team under Samsung’s chip business division, Device Solutions. His key responsibility is expected to be overseeing the development of cutting-edge packaging technology, which plays a key role in enhancing advanced higher-performance
March 9, 2023
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Sulwhasoo partners with the Met to promote K-culture
South Korean beauty giant Amorepacific's luxury skin care subsidiary Sulwhasoo said Thursday it signed a partnership with the Metropolitan Museum of Art in a bid to conduct various collaborative works with the New York-based art museum, including the preservation of Korean cultural artifacts. Sulwhasoo, which has been promoting traditional Korean art and craftsmen through its exhibition series, will be working with the Met for a year starting this March. Throughout the year, Sulwhasoo will
March 9, 2023
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[Herald Interview] 'Soft power plays key role in green push'
SK Ecoplant, the green business unit of SK Group, aims to solidify its footing into the US battery recycling market this year by working with partners to make aggressive investments, the company’s investment executive said. The company has made a major transformation from a builder into an environment and energy company though an array of merger and acquisition deals worth over 3 trillion won ($2.3 billion) in Korea and abroad. “This year’s biggest goal would be supporting SK
March 8, 2023
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Korea has far fewer female managers than OECD peers
South Korea ranked second to last in terms of the percent of women in management positions among 36 countries in the Organisation for Economic Co-operation and Development (OECD), according to OECD statistics released Wednesday. The OECD said Korea has reported steady progress in elevating women leaders but still has a long way to go. The percentage of female managers in Korea was 16.3 percent as of 2021, less than half the OECD average of 33.7 percent. Japan with 13.2 percent was the only count
March 8, 2023