Most Popular
-
1
S. Korea, Singapore seal supply chain agreement
-
2
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
3
Korean language teaching expert says demand has outstripped supply
-
4
Conscripting women to lead to 'more babies,' claims military think tank
-
5
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
6
Who is pollster roiling politics with claims of government string-pulling?
-
7
Taking away phones during school hours not a human rights violation: watchdog
-
8
Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
-
9
Korea launches antidumping probe into Chinese steel
-
10
Korea added to key bond index
-
Air traffic rises 16% last year but still below pre-pandemic levels
South Korea's air traffic rose 16 percent in 2022 from a year earlier on unleashed pent-up demand for travel amid eased COVID-19 virus curbs, the transport ministry said Wednesday. Airlines, domestic and foreign, made a total of 539,788 flights over South Korea last year, up from 465,469 flights a year ago, the Ministry of Land, Infrastructure and Transport said in a statement. The ministry said the 2022 number of flights still stood at 65 percent of the pre-pandemic levels. Air traffic in
Jan. 18, 2023
-
[Herald Interview] BOK likely to turn attention to growth: SC Bank strategist
Arup Ghosh, Standard Chartered Bank’s co-head of Asia (excluding China) rates research and global research, sees that the Bank of Korea now has room to pause its rate hike and focus more on reviving the Korean economy. “Now, the domestic economy -- particularly the housing market, private consumption and falling exports -- matters more to the BOK,” Ghosh said during an interview with The Korea Herald on Friday. The Singapore-based researcher was in Korea to take part in the Glo
Jan. 17, 2023
-
SK Innovation donates W3.6b for shared growth
South Korea’s largest energy company SK Innovation said Tuesday it has delivered a total of 3.6 billion won ($2.9 million) to seek shared growth with smaller partner companies, as part of a corporatewide campaign now in its sixth year. Of the fund, 3.2 billion won came from the 1 Percent Happiness Sharing Fund, which is created by collecting 1 percent of the base salaries of employees, while the remainder was raised by collecting contributions from the government and a welfare fund for par
Jan. 17, 2023
-
Korea, UAE ink $6.1b in business deals
Upon Yoon's state visit, 23 memorandums of understanding signed to boost mutual ties South Korea and the United Arab Emirates are to further strengthen ties for joint growth, agreeing to $6.1 billion worth of cooperation on energy, defense and new industry businesses, according to Seoul officials on Tuesday. A total of 23 memorandums of understanding and a contract were signed between the two countries during a business forum held in Abu Dhabi on the sidelines of President Yoon Suk Yeol
Jan. 17, 2023
-
KSOE wins W971b order for 3 LNG carriers
South Korea’s top shipbuilder Korea Shipbuilding & Offshore Engineering said Tuesday it has landed its first contract of the year worth 971 billion won ($784 million). The company said it sealed the deal with a shipping company in Oceania to build three large liquefied natural gas carriers, each measuring 200,000 cubic meters in size. The company declined to reveal the name of the client, citing contract conditions. The carriers will be manufactured by Hyundai Heavy Industries, one of
Jan. 17, 2023
-
Samsung unveils new high-end image sensor for smartphones
Samsung Electronics unveiled Tuesday its latest 200-megapixel image sensor, the Isocell HP2, with significantly improved resolution and upgraded picture quality for premium smartphones. The new image sensor packs 200 million 0.6-micrometer pixels in a 1/1.3-inch optical format, a sensor size that is widely used in 108MP main smartphone cameras, according to Samsung. This enables the latest high-end smartphones to create higher resolutions, while minimizing the camera bumps on the devices. &ldquo
Jan. 17, 2023
-
US beef takes up over half of S. Korea's total imports in 2022
US beef accounted for more than 50 percent of South Korea's total imports of the meat in 2022, taking up the top spot for six years, industry data showed Tuesday. Asia's fourth-largest economy imported 256,910 tons of American beef last year, or 54.1 percent of its total beef imports of 474,511 tons, according to the data from the US Meat Export Federation. The proportion was up 2.8 percentage points from a year earlier. Last year's volume and market share of US beef imports marke
Jan. 17, 2023
-
Corporate Korea pins high hopes on $30b UAE investment
South Korea's high-tech industries such as nuclear power plant operators, mobility, aerospace, materials and parts and biotechnologies are expected to benefit heavily from United Arab Emirates' 30 billion dollars’ worth of investment, according to industry insiders Monday. According to the Ministry of Strategy and Finance, South Korean President Yoon Suk Yeol and Emirati leader Sheikh Mohammed bin Zayed Al Nahyan on Sunday held a meeting, during which the two leaders signed total
Jan. 16, 2023
-
LG Energy Solution, Hanwha bolster ties on batteries
LG Energy Solution, South Korea’s largest electric vehicle battery maker, and Hanwha Group, a defense and energy giant, are teaming up to seek business synergy in the burgeoning battery market, they said in a statement on Monday. According to the statement, LG Energy Solution and three Hanwha companies – Hanwha Q Cells, Hanwha Momentum, and Hanwha Aerospace – signed a memorandum of understanding earlier in the day to bolster bilateral ties. Under the MOU, the two agreed to secu
Jan. 16, 2023
-
SMEs Ministry boosts partnerships with UAE on startups
South Korea’s Ministry of SMEs and Startups said Monday it has forged a partnership with the United Arab Emirates to boost cooperation in nurturing startups. The ministry signed a memorandum of understanding with the UAE’s Ministry of Economy to step up as a major partner country for Dubai’s Entrepreneurial Nation 2.0 project. The state-led project aims to nurture 8,000 small and medium-sized firms and 20 unicorns that is worth more than 1 trillion won ($810 million) in corpora
Jan. 16, 2023
-
SK, UAE sovereign wealth fund to create carbon credit market
SK Group, South Korea’s semiconductor-to-telecommunications conglomerate, said Monday it had signed a partnership deal with the United Arab Emirates’ sovereign wealth fund to tackle climate change together by establishing a carbon credit market in Asia. SK Group Chairman Chey Tae-won, who doubles as chairman of the Korea Chamber of Commerce and Industry, signed a memorandum of understanding with Khaldoon Khalifa Al Mubarak, CEO and managing director of the Mubadala Investment Compa
Jan. 16, 2023
-
Will Woori Financial chief seek third term?
As Woori Financial Group is set to hold its meeting for selecting the next chairman candidates on coming Wednesday, eyes are now on whether the current head Son Tae-seung will be able to secure a reappointment for a third term. Son’s second term ends in March. A Woori Financial Group official told The Korea Herald on Friday that Son is included in the “long list” as a candidate for chairman of Woori Financial Group. “After the meeting on Wednesday, final candidates will b
Jan. 15, 2023
-
LG to ramp up dryer production in US
LG Electronics said Sunday it has added a new production line for dryers at its Tennessee plant in the US, with aims to ramp up production of premium home appliances and bolster its responsiveness to market demand. Adding to the existing two production lines for washers built in 2018, a total of three lines will be operated at the plant to produce front- and top-loading washing machines and dryers. Its production capacity is expected to reach 1.2 million washing machines and 600,000 dryers per y
Jan. 15, 2023
-
Chaebol leaders join Yoon's trip to UAE, WEF
Top executives of Samsung, SK and Hyundai are accompanying South Korean President Yoon Suk Yeol on his state visit to the United Arab Emirates as well as to the World Economic Forum, as part of an official business delegation aimed at boosting economic cooperation. Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won and Hyundai Motor Group Chairman Chung Euisun are among the chiefs of 100 South Korean companies making up the business delegation, according to industry source
Jan. 15, 2023
-
SK Energy joins hands with state-run power supplier for future car charging stations
SK Energy Co., a major South Korean oil refiner, said Friday it is joining hands with a state-run electric power supplier to build electric vehicle charging infrastructure at traditional gas stations across the country. SK Energy will work with Korea Hydro & Nuclear Power Co. to build "energy super stations" that provide both refueling of internal combustion engine vehicles and charging of EVs, in a move to facilitate the adoption of the eco-friendly car charging system, SK said in
Jan. 13, 2023
-
[Photo News] Paying tribute
Lotte Group Chairman Shin Dong-bin lays a flower in front of a statue of the food giant's late founder and his father, Shin Kyuk-ho, in commemoration of the third anniversary of his death, at Lotte World Tower in Seoul, Thursday. The Lotte chairman on the same day convened a CEO meeting across affiliates to discuss the retail giant's mid- to long-term management plans and analyze this year's business sentiment.
Jan. 12, 2023
-
[KH Explains] Apple’s move to ditch Korean displays met with skepticism
Having announced its plans to make more chips on its own, Apple, the world’s largest consumer electronics company by revenue, is now reportedly seeking to use its own displays whose supplies are heavily reliant on South Korea’s Samsung Display and LG Display. Bloomberg reported Wednesday that Apple is planning to start using its own micro light-emitting diode displays on its smartwatches as early as the end of 2024, possibly with the aim to reduce its reliance on Korea-made displays.
Jan. 12, 2023
-
Hana Financial chief visits Google amid big digital push
While staying in the US to attend the 2023 Consumer Electronics Show, Hana Financial Group Chairman Ham Young-joo took time to visit Google Bay View Campus on Friday. According to the group, Ham intended to get some inspiration for digitalization through communicating with employees of the global IT firm. “It was a meaningful time to think about the future path of the group together with young talented people," Ham said. When meeting with the global company’s employees, Ham st
Jan. 12, 2023
-
Temporary owners of two homes to be given more leeway on taxes
South Korea's finance ministry said Thursday owners of two homes will pay less taxes if they dispose of one of them during an extended period amid a slump in the home market. Under the plan, such homeowners will not be subject to heavier taxation if they offload one of the two homes within a three-year period, according to the Ministry of Economy and Finance. The ministry earlier extended the period from one to two years in May 2022. While the revised policy will be officially implemented in Feb
Jan. 12, 2023
-
Hanwha Solutions to invest W3.2tr in US solar energy business
Hanwha Solutions will invest 3.2 trillion won ($2.57 billion) in expanding its solar energy businesses and building additional facilities to complete the manufacturing line in the United States through next year, the South Korean company said Wednesday. The company said it plans to set up a solar hub that will be capable of producing four of the five core parts -- ingot, wafer, cell and module -- in the solar energy industry. The hub will feature two different sites in the state of Georgia. Hanw
Jan. 11, 2023