Most Popular
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S. Korea, Singapore seal supply chain agreement
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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Korean language teaching expert says demand has outstripped supply
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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Conscripting women to lead to 'more babies,' claims military think tank
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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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Taking away phones during school hours not a human rights violation: watchdog
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Korea launches antidumping probe into Chinese steel
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[Grace Kao] Why K-pop lip-syncing doesn’t bother me
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Samsung Biologics, AstraZeneca shutting down their joint venture Archigen Biotech
Samsung Biologics Co., the biotech arm of South Korea's Samsung Group, is shutting down its joint venture with multinational pharmaceutical company AstraZeneca Plc., a company official said Tuesday, due to the suspension of the development of a biosimilar product. The move came two months after Samsung Biologics' board approved the liquidation of Archigen Biotech Ltd., a 50-50 joint venture set up with AstraZeneca, in 2014. Archigen Biotech was responsible for developing SAIT101, a bio
May 24, 2022
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Samsung SDI-Stellantis battery JV to be built in Indiana
Samsung SDI Co., a major South Korean battery maker, will build an electric vehicle battery plant in the US state of Indiana with Stellantis N.V. and plans to make the announcement this week, industry sources said Tuesday. The announcement, reportedly set for Tuesday (US time), would come after the two companies said in October they were forming a joint venture to build what would be the first US battery cell plant for the South Korean battery maker. An official from Samsung SDI declined to comm
May 24, 2022
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Korean robot maker Rainbow Robotics records W3.6b in sales, up 182 percent
South Korean robotics maker Rainbow Robotics said Monday that it recorded 3.6 billion won ($2.8 million) in sales in the first quarter this year, up 182 percent on-year. The Korean robot maker said the local market’s demand for collaborative robots that work with humans has pulled up its sales, as well as increased exports of its device that tracks certain targets with accuracy to the global market. Its operating profit came to 600 million won. Collaborative robots assist hu
May 23, 2022
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Posco to supply steel for hyperloop
Posco said it will supply 2,100 tons of hot-rolled steel material to be used in a hyperloop, or a high-speed transportation system where pressurized vehicles travel through a low-pressure tube, at a test facility in the Netherlands. The steelmaker said it will begin supplying the PosLoop355, specially developed to be used for the hyperloop tube, to Hardt, the Dutch company that is building the European Hyperloop Center, from next month. The PosLoop355 absorbs vibrations at 1.7 times the rate o
May 23, 2022
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SK Bioscience wins $31.3m deal to supply chickenpox vaccines to Latin America
South Korean vaccine maker SK Bioscience Co. said Monday it has secured a $31.3 million deal from the Pan American Health Organization (PAHO) to supply chickenpox vaccines to Latin American countries. SK Bioscience said it has recently delivered its first batch of shipments of SKY Varicella, the company's chickenpox vaccine introduced in 2018, to Central and South American countries through PAHO. SK Bioscience said it won the deal from PAHO in February. PAHO is an international public healt
May 23, 2022
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[Photo News] When Biden was in Seoul
Lotte World Tower, the world’s fifth-tallest building, located in Jamsil, Seoul, is illuminated with images of US and Korean flags and messages welcoming the US president during his three-day visit to Korea. President Joe Biden left Sunday afternoon for the second leg of his Asia tour.
May 22, 2022
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Hyundai Steel joins hands with KIER for advancing carbon neutral tech
Hyundai Steel has signed a memorandum of understanding with the Korea Institute of Energy Research to push for comprehensive cooperation on technologies in the energy and environment sectors with the goal of leading the steel industry’s movement towards carbon neutrality. According to the South Korean steelmaker, Hyundai Steel CEO Ahn Dong-il and KIER President Kim Jong-nam attended the MOU ceremony held at the KIER in Daejeon on Friday. The two sides agreed to work together to develop
May 22, 2022
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SK ecoplant acquires 30% shares in Malaysia’s Cenviro
SK ecoplant, the engineering and construction unit of South Korean conglomerate SK group, has partnered with Malaysia’s state-operated waste management firm Cenviro to expand its environmental business in the global market. SK ecoplant inked a share purchase agreement on Friday with Malaysian sovereign wealth fund Khazanah Nasional to acquire 30 percent of Cenviro shares. The Malaysian waste management company is wholly owned by Khazanah Nasional. Cenviro built Malaysia’s first
May 22, 2022
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Biden to meet Hyundai Motor chief on new investment plan
US President Joe Biden will meet Hyundai Motor Group Chairman Chung Euisun on Sunday in Seoul to thank him for investment in the state of Georgia, Washington’s national security adviser Jake Sullivan said Thursday. The US president is scheduled to arrive in Seoul later in the day for his three-day state visit for summit talks with President Yoon Suk-yeol. His planned meeting with the Hyundai Motor chief comes amid reports that the South Korean auto giant will announce a $7 billion inv
May 21, 2022
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Hyundai to build $5.54 bln EV, battery plant in Georgia
South Korea's Hyundai Motor Group said Saturday it will invest US$5.54 billion to build a dedicated electric vehicle and car battery manufacturing plant in the United States to further solidify its electrification push in the world's most important automobile market. The announcement comes as US President Joe Biden is visiting South Korea as part of his first trip to Asia amid ongoing tension with China and continued provocations from North Korea. Hyundai Motor Group plans to start constructi
May 21, 2022
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[Herald Interview] Korea’s first coloring shampoo seeks breakthrough in overseas markets
Moda Moda, the South Korean producer of the world’s first coloring shampoo using the browning reaction in stale bananas, is seeking a breakthrough in overseas markets to sidestep cumbersome regulations at home. The company is revamping overseas operations to extend its sales network connecting the US, China and Japan. Korean beauty products are increasingly popular in these countries, riding high on the popularity of K-content. Unlike many other K-beauty brands that depend heavily on l
May 20, 2022
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S-Oil CEO apologizes for Ulsan refinery explosion
S-Oil Chief Executive Officer Hussain A. Al-Qahtani on Friday apologized over the explosion of its refinery in Ulsan, about 415 kilometers southwest of Seoul, and promised to take all measures possible to prevent such incident from happening again. “I would like to express my deepest condolences and apologies to the deceased who lost his life from an incident in S-Oil Onsan Refinery and to his family. My apologies also go out to the injured workers and local residents close to the refine
May 20, 2022
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Biden to meet Hyundai Motor chief on new investment plan
US President Joe Biden will meet Hyundai Motor Group Chairman Chung Euisun on Sunday in Seoul to thank him for investment in the state of Georgia, Washington’s national security adviser Jake Sullivan said Thursday. The US president is scheduled to arrive in Seoul later on Friday for his three-day visit for summit talks with President Yoon Suk-yeol. His planned meeting with the Hyundai Motor chief comes amid reports that the South Korean auto giant will announce a $7 billion investment
May 20, 2022
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Netflix subsidiary to invest $100m in S. Korea
A subsidiary of Netflix will invest $100 million in South Korea over the next six years to build special visual effects facilities in a move that will help turn the country into an Asian hub for high-tech content creation, Seoul's industry ministry said Friday. Scanline VFX will carry out the investment plan by 2027, according to the Ministry of Trade, Industry and Energy. An event to officially announce the plan took place in central Seoul, with Stephan Trojansky, the head of the global vi
May 20, 2022
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S-Oil’s Ulsan refinery explosion leaves one dead, nine injured
An explosion at an S-Oil refinery in Ulsan, some 400 kilometers southeast of Seoul, left one person dead and nine others injured, firefighters said Friday. Firefighters were notified of an explosion at the S-Oil refinery at 8:52 p.m. on Thursday. The injured workers were transported to a hospital nearby. While the exact cause has yet to be determined, fire authorities said the accident occurred inside S-Oil’s refinery at Onsan industrial park while crude oil was being processe
May 19, 2022
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Hyundai Glovis enters Thai market
Hyundai Glovis, a supply chain management arm under Hyundai Motor Group, said Thursday that it has launched an overseas corporation in Bangkok, as part of its business expansion strategy in the Southeast Asian market. Hyundai Glovis Logistics Thailand, a joint venture that has been formed with local auto parts manufacturers and logistics firms, will be responsible for creating synergy with its existing logistics points in Vietnam and Indonesia, the company said in a statement. According
May 19, 2022
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[Newsmaker] Hanwha builds Korea's first beehive monitored by using solar energy
To honor the United Nation’s World Bee Day, Hanwha Group said Thursday that it has created the country’s first solar beehive which has been designed with a photovoltaic low-carbon structure that uses electricity generated through solar panel. Hanwha Group said it has installed the solar beehive at the Korea National University of Agriculture and Fisheries (KNUAF) as a part of its pilot program. At this beehive, about 40,000 bees will help pollinate the fruit trees on campus and vege
May 19, 2022
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Scholar says Korea should overcome fear of embracing innovation
Digital innovation in South Korean industries faces a major hurdle from the country‘s older generation weary of technological changes having unexpected side effects, said professor of mechanical engineering at Sungkyunkwan University Choi Jae-boong on Wednesday. “We as a society need to be more tolerant of people who may create side effects while leading the digital civilization,“ Choi said at the Global Business Forum hosted by The Korea Herald in Seoul on Wednesday. &ldqu
May 19, 2022
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Oriental Brewery’s new TV ad roots for get-togethers
Oriental Brewery began a new television advertisement campaign to encourage get-togethers after two years of social distancing. The commercial “Let’s meet now" shows words of greetings and ends with friends and family toasting and having a good time. Major OB brands such as Cass, OB Lager, Hanmac and FiLGood are shown in the ad as something that connects people. OB beer accounted for more than 50 percent of the beer bought from convenience stores and supermarkets in the first
May 19, 2022
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SsangYong signs conditional investment deal with KG consortium
SsangYong Motor Co. said Wednesday it has signed a conditional investment deal with a local consortium ahead of the auction later this month to find a new investor for the carmaker. The Seoul Bankruptcy Court recently selected the consortium led by chemical-to-steel firm KG Group as the preliminary bidder for SsangYong Motor. The new auction comes two months after local electric bus maker Edison Motors Co. failed to make a full payment of 304.8 billion won ($249 million) fo
May 18, 2022