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
20 minors registered as CEOs making over 100 million won
-
5
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
6
Conscripting women to lead to 'more babies,' claims military think tank
-
7
K-pop CEOs sidestep key issues at National Assembly audit
-
8
Who is pollster roiling politics with claims of government string-pulling?
-
9
Man killed by fellow hunter who mistook him for wild boar
-
10
Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
-
Samsung's foundry market share rises in Q4, narrowing down gap with TSMC: report
Samsung Electronics Co. expanded its share of the global foundry market in the fourth quarter, slightly narrowing down the gap with the industry's leader TSMC, a report showed Tuesday. The South Korean chipmaker's share rose 1.1 percentage points to reach 18.3 percent in the October-December period, according to market analyst firm TrendForce, while the dominant market player Taiwan's TSMC shed 1 percent to 52.1 percent. Samsung's foundry business grew 15.3 percent from the previous quarter, com
March 15, 2022
-
SK Geocentric invests $55m in US plastic waste recycling company
SK Geocentric Co., a chemical materials unit of South Korean conglomerate SK Group, said Tuesday it has acquired a stake worth $55 million in a US plastic waste recycling startup, in a step to bolster its green business. It acquired the stake in PureCycle Technologies Inc., a Florida-based plastic recycling company, through a recent rights offering, SK Geocentric said in a release, without disclosing details on the size of the stake. SK Geocentric has already partnered up with PureCycle to build
March 15, 2022
-
Daewoo Shipbuilding, Babcock sign MOU for warship partnership
Daewoo Shipbuilding & Marine Engineering Co., the world's fourth-biggest shipbuilder by orders, said Tuesday it has signed an initial pact with a British shipbuilder for warship technology development. Daewoo Shipbuilding has signed a memorandum of understanding with Babcock International for a "strategic partnership" in developing technologies in aircraft carriers, the company said in a statement. Babcock was involved in developing the UK aircraft carrier HMS Queen Elizabeth. &quo
March 15, 2022
-
Korean Air suspends routes to Russia until April
South Korean national flag carrier Korean Air Lines Co. said Tuesday it will suspend routes to Russia until April due to safety concerns involving Russia's invasion of Ukraine. Korean Air will temporarily halt the operation of passenger jets to Moscow and Vladivostok and cargo planes that are bound for Europe via Moscow until the end of next month, the company said in a statement. Flights on some routes from Incheon to Europe and the United States will take a detour to avoid the Russian and Ukra
March 15, 2022
-
Only 0.2% of Koreans avoid meat, vegans even rarer, study finds
A report released by Korea Agro-Fisheries and Food Trade Corporation on Monday found that only 13 out of the 5,510 respondents, which represents a mere 0.2 percent, chose not to eat meat, specifically beef, pork, poultry, and fish. The questionnaire covered seven different types of vegetarian diet, from the most restrictive form, veganism, to more lenient ones along the scale. Out of the 5,510 respondents, 418 followed some kind of meat restrictive diet. These include some less restrictive p
March 14, 2022
-
Celltrion shares soar on lenient penalties
South Korea’s leading drugmaker Celltrion saw its shares rise Monday after financial authorities had decided not to press charges for accounting fraud as long as the company pays fines, names an independent oversight board and removes the executives responsible. On Friday, the Financial Services Commission said Celltrion, Celltrion Pharm, and Celltrion Healthcare -- three listed firms that respectively develop anticancer drugs, make biopharmaceuticals, and distribute the products -- had o
March 14, 2022
-
Booyoung Group donates W500m, 300 housing units to wildfire victims
South Korea’s construction giant Booyoung Group said Monday it will donate 500 million won ($403,000) to victims of the recent wildfires that ravaged the east coast, as well as 300 flats to shelter those who lost homes to the fire. The donation fund will be delivered through the Korea Disaster Relief Association, a non-profit organization that serves victims of domestic natural disasters. As for the flats, Booyoung plans to secure 300 housing units from its own apartment complexes in th
March 14, 2022
-
[Newsmaker] Naver's new CEO all-in on going global
Naver will become an incubator that creates innovative technology penetrating the global market and seek to go beyond providing services that are popular today, the company’s new CEO said Monday. “Not only all businesses owned by Naver began with the thought of going global from the start, but all of the objectives also point to going global,” Naver CEO Choi Soo-yeon said at a meeting with shareholders and board of directors where she was appointed as the new chief. The IT g
March 14, 2022
-
Top shipper HMM halts two Far East routes amid Russian invasion of Ukraine
HMM Co., South Korea's leading container shipper, said Monday it has decided to temporarily suspend two Far East shipping routes in the wake of Russia's invasion of Ukraine. The decision affects HMM's shipping routes between South Korea's southeastern port of Busan and Russia's Far East ports of Vostochny and Vladivostok. "The temporary suspension of bookings for the routes is inevitable as the war between Russia and Ukraine has sent cargo volume tumbling," HMM said. "We will push
March 14, 2022
-
Samsung set to unveil new Galaxy A series this week
Samsung Electronics Co. says it will unveil new Galaxy A smartphones Thursday, the tech giant's entry-level gadget targeting users looking for more affordable smartphones with flagship features. Calling the Galaxy A series the company's "most popular smartphone category," Samsung said it "is taking the impactful Galaxy innovations for the A series even further." The series will be shown at a live online event slated for 10 p.m. (US time) Thursday. Samsung's mid-low tier Galax
March 14, 2022
-
Asiana to resume Incheon-Nagoya route next month
Asiana Airlines Inc. said Monday it will resume flights on the Incheon-Nagoya route next month, one year after its suspension due to the COVID-19 pandemic. Starting April 1, Asiana plans to provide one flight a week on the Nagoya route, while expanding flights on the routes to Tokyo, Osaka and Fukuoka from March 27, the company said in a statement. The move is aimed at preemptively preparing for an increase in travel demand in the post-pandemic era, it said. The quarantine period recently fell t
March 14, 2022
-
Yoon’s pledge signals a U-turn from nuclear-free power policy
South Korea is likely to see a major change in its nuclear-free power policy with President-elect Yoon Seok-yeol‘s campaign pledge to bolster energy policies in use of atomic power. Yoon has vowed to make a U-turn from the Moon Jae-in administration’s nuclear energy phase-out policies, citing plans to use nuclear to account for 30 percent of total energy generation. “(I’ll make sure) Sin-Hanul No. 3 and No. 4 resume construction and operate old nuclear reactors after e
March 13, 2022
-
War in Ukraine raises salmon prices in supermarkets
As Russia’s invasion of Ukraine threatens key supplies of energy and food, salmon has proven to be no exception. A ban from flying over Russian airspace is forcing Norway-farmed salmon to take a major detour to reach Asia, driving up freight costs, and ultimately retail prices. In one supermarket, 100-gram salmon filet prices increased by 15.5 percent, from 3,880 won to 4,480 won. The same day another supermarket lifted prices of its Norway-farmed fresh salmon by 26.4 percent. A 100-gram
March 13, 2022
-
NPS to vote against Samsung’s new chip CEO nominee
The National Pension Service, the second-largest shareholder of South Korean tech giant Samsung Electronics, is poised to vote against Kyung Kye-hyun, who was named head of Samsung’s chip business in December, a disclosure showed Sunday. As the public pension fund of Korea with 8.53 percent voting rights, NPS cited Kyung’s “history of undermining the enterprise value or violating shareholders’ rights,” without elaborating further. Kyung was one of three board mem
March 13, 2022
-
A win-win: Korea-US FTA marks 10th year
South Korea and the US have seen their trade volume surge almost 70 percent since a free trade pact was signed in 2011, with their economic ties being enhanced as a key partnership to resolve the current supply chain disruptions. According to a report released Friday by the Korea International Trade Association that marks the 10th anniversary of the Korea-US Free Trade Agreement, trade volume between the two countries soared 67.8 percent to $169.1 billion last year from $100.8 billion in 2011.
March 11, 2022
-
Samsung Heavy wins W609b order in Europe
Samsung Heavy Industries Co., the world's third-biggest shipbuilder by order backlog, said Friday it has received a 609 billion-won ($494 million) container ship order in Europe. Samsung Heavy obtained the order to build four liquefied natural gas-powered container carriers from an unidentified European shipper by 2024, the company said in a statement. With this latest order, Samsung Heavy has already achieved $1.3 billion, or 15 percent, of its order target of $8.8 billion this year. In 2021, t
March 11, 2022
-
Korea Shipbuilding wins ship orders worth W290b in Asia, Oceania
Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Friday it has won ship orders totaling 290 billion won ($235 million) in the Asia and Oceania regions. KSOE obtained orders to build one liquefied natural gas carrier for an Asian shipper by the first half of 2024 and four container ships for an Oceania-based shipper by March 2024, the company said in a statement. Hyundai Heavy Industries Holdings Co. has KSOE as a subholding company under its wing. KSOE has three affiliates -- Hyunda
March 11, 2022
-
At Semicon to raise W10.1b via stock offering
At Semicon Co. on Friday announced that it will sell stocks to raise 10.1 billion won. The proceeds from the stock sale will be used mainly to finance its operations. According to a regulatory filing, the company will issue some 9.28 million common shares at a price of 1,089 won per share. The stocks will be sold to the investors that the firm designated. (Yonhap)
March 11, 2022
-
S. Korean regulator unveils guideline on world‘s 1st in-app payment law
South Korea‘s telecommunications regulator on Thursday unveiled a guideline to clarify potential violations of a revised law banning store operators, like Apple and Google, from forcing developers to use their own in-app payment systems. Earlier this week, the country’s Cabinet approved an enforcement decree revision of the Telecommunications Business Act that went into effect in September. South Korea became the first country in the world to introduce such curbs on in-app billin
March 10, 2022
-
Chaebol reform not on Yoon’s agenda
Chaebol reform had been a key agenda in previous presidential campaigns, but it was no longer present in this year’s election. Except for Justice Party candidate Sim Sang-jung, none of the major presidential contenders mentioned chaebol reform in their campaign pledges. With more pressing economic issues such as runaway home prices, small business owners struggling from the pandemic and inflation, chaebol reform was pushed aside in campaigns. “There seems to be a consensus that is
March 10, 2022