Most Popular
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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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Ex-president's daughter investigated for drunk driving accident
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Seoulites celebrate coexistence at Wellness Seoul 2024
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S. Korea, Singapore seal supply chain agreement
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Netflix, streaming platforms come under fire for loose ratings
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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20 minors registered as CEOs making over 100 million won
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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K-pop CEOs sidestep key issues at National Assembly audit
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Hanwha Energy launches ESG committee to beef up sustainable management
Hanwha Energy Corp., a South Korean renewable energy company, said Friday it has launched a committee to beef up sustainable management in light of the Environmental, Social and Governance (ESG) principles. The ESG committee, established within its board, will serve as the company's key division tasked with devising and reviewing mid- to long-term objectives and strategies in line with the ESG factors, which refer to business behaviors and practices that determine a company's future sustainabi
Oct. 15, 2021
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Daewoo Shipbuilding wins W640.8b order for 4 container carriers
Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Friday that it has signed a 640.8 billion won ($542 million) deal to build four container carriers. Under the deal with a European country, DSME will deliver the vessels by November 2024, it said in a regulatory filing. In the first nine months, DSME posted $8.04 billion in new orders, surpassing its annual order target of $7.7 billion won. It is the first time for the company to achieve its annual order target since 2014, when the
Oct. 15, 2021
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Battle for smartwatch market likely to intensify with release of new Apple product
Apple Inc. on Friday released its new smartwatch -- Apple Watch Series 7 -- in South Korea in the latest move to further boost its presence in the growing smartwatch market. The release came as the pandemic-driven stay-at-home trend and rising health concerns have fueled the popularity of smartwatches fitted with health care and fitness features. The latest Apple smartwatch comes with a 20 percent bigger screen and a 40 percent thinner body than the Apple Watch Series 6. Its battery runs for
Oct. 15, 2021
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Samsung Electronics breaks record for 5G upload speed
Samsung Electronics said Friday that it has set a world record for 5G upload speed: 711 megabits per second. According to the South Korean IT giant, the feat was achieved in a recent trial conducted together with Verizon and Qualcomm in Texas. “For comparison, 700 Mbps is fast enough to download a 1 gigabit movie in 10 seconds. Multi-gigabit speeds have been recorded on downloads before, but this is the fastest speed the companies have been able to reach while uploading data to the net
Oct. 15, 2021
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Posco Chemical recognized as ‘rising star’ at S&P Global Platts Global Metals Awards
Posco Chemical was chosen as the “Rising Star Company” at the 2021 Global Metals Awards, hosted by S&P Global Platts, the company said Friday. It is Posco Chemical’s first overseas award. “Posco Chemical has built a large, successful business in the lithium-ion battery market and forms a crucial part of Posco Group’s value chain integration for green mobility solutions. The company has a significant presence in the secondary battery materials business, which it
Oct. 15, 2021
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KIPO outlines plan to prevent unfair competition, protect trade secrets
With the reorganization of global supply chains and accelerating digital transformation since the outbreak of the COVID-19 pandemic, securing cutting-edge technologies in fields such as artificial intelligence and semiconductors is becoming ever more crucial. In addition to investing heavily in technological development, countries around the world are strengthening protection of trade secrets and control of technological exports to prevent leaking their core technologies to rivals. The South K
Oct. 15, 2021
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Korea’s patent office expands international cooperation
As the grueling seven-year patent war between Samsung and Apple through 2018 showed, intellectual property rights can be used as spears and shields in the global fight for technological hegemony. Amid an intensifying patent war and the COVID-19 pandemic, applications for intellectual property rights in South Korea rose 12.3 percent from a year ago to 284,135 cases in the first half of this year, and the figure is expected to break 600,000 this year. To keep the spirt of innovation alive, the
Oct. 15, 2021
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Yanolja to acquire Interpark, enter global tourism market
Travel and leisure platform operator Yanolja said on Thursday that it will acquire a 70 percent stake in Interpark, one of South Korea’s first e-commerce platforms, for 294 billion won ($248 million). Following the announcement of the deal, Yanolja said it would enter the global tourism market with the new “growth engine.” “The international tourism market has been dominated by foreign platforms. The acquisition will see Yanolja enter the market as a South Korea company
Oct. 14, 2021
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[Herald Design Forum 2021] Sustainability the new trend for Gen Z, industrial designers say
Sustainability is a key trend in industrial design as Generation Z consumers prioritize conscious and valuable consumption when it comes to making purchases. The latest trend for those born between 1997 and the early 2010s, is not about being trendy, but about creating designs that people do not get sick of for a long period of time and thus leaving a smaller carbon footprint, said experts in industrial design who took part in the Herald Design Forum 2021 on Thursday. Benjamin Hubert, a Londo
Oct. 14, 2021
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[Photo News] Flying in Seoul, controlled in California
A pair of Hogreen Air’s hydrogen drones fly across the sky at a park in Gwangju, Thursday, remotely controlled by operators 9,042 kilometers away in California’s Silicon Valley using the 5G network. Hogreen Air said that with Thursday‘s experiment, it became the world’s first drone company to succeed in remote control of a drone over such a long distance.
Oct. 14, 2021
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Posco chairman picked to lead World Steel Association
Posco Chairman Choi Jeong-woo has been chosen to lead the executive board of directors for the World Steel Association, the South Korean steelmaker said Thursday. Choi, who is a member of the association’s executive committee, was appointed to lead the entity along with two other board members, during the annual conference held online on Wednesday, Posco said. The World Steel Association is one of the largest industry associations in the world, representing global steel producers, natio
Oct. 14, 2021
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Hyundai Engineering to build e-learning infrastructure in Indonesia
Hyundai Engineering said on Thursday it has launched a new project to build e-learning infrastructure in the city of Balikpapan in Indonesia. The three-year Hello E-Dream Project will see the company team up with the Indonesian government and non-government organization Good Neighbors to improve the educational environment in the city. Marking the 11th project from Hyundai Engineering’s series of social contribution activities known as New Hope School, the latest move will focus on build
Oct. 14, 2021
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Jeju Air to raise W127b via stock sale for post-pandemic biz
Jeju Air Co., South Korea's biggest budget carrier, said Thursday it will raise 127 billion won ($107 million) by selling stocks in preparation for the post-coronavirus era. Jeju Air plans to issue 11.26 million shares at 18,350 won per share to employees and existing shareholders from Oct. 18-19 and list the stocks on the main Korea Exchange (KRX) on Nov. 19, the company said in a regulatory filing. "The planned rights issue is to secure operating capital as the country aims to g
Oct. 14, 2021
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[From the Scene] Firms offer carbon neutrality answers
Banners reading “No photos allowed” in bold letters are clearly placed right next to prototypes of Hanwha Q Cells’ next-generation tandem solar cells. Despite the warning, visitors couldn’t resist taking out their smartphones to take photos of the black, rectangular chips slowly rotating inside glass spheres. At the Net Zero Expo, the nation’s biggest energy exhibition that kicked off at Kintex in Ilsan, Gyeonggi Province, on Wednesday, it was clear that the thi
Oct. 13, 2021
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Technical regulations biggest challenge for foreign-invested firms: KCCI
Foreign-invested firms say technical regulations along with fair trade and labor laws are some of the biggest management challenges, the Korea Chamber of Commerce and Industry said on Wednesday. Nearly 1 in 2 foreign-invested firms based in South Korea said technical regulations such as certification, tests and inspection were the biggest challenge facing their business, according to a survey conducted by the KCCI with 252 foreign-invested companies. Technical regulations refer to administrati
Oct. 13, 2021
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SK Inc. to launch ‘turquoise hydrogen’ joint venture with Monolith
SK Inc., the holdings firm of SK Group, said Wednesday it will form a joint venture in South Korea with Monolith, the world’s first company to have successfully mass-produced “turquoise hydrogen.” According to the strategic investment arm of the country’s third-largest conglomerate, the joint venture will produce hydrogen and carbon black products. The US hydrogen maker will provide necessary technology while SK Inc. will be in charge of production, sales and distributi
Oct. 13, 2021
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Posco's Q3 operating income at record high on robust demand
Posco, the world's fifth-largest steelmaker by output, said Wednesday its third-quarter operating income more than quadrupled to a record high on robust demand amid the global economic recovery from the COVID-19 pandemic. Operating income for the three months that ended in September reached 3.11 trillion won ($2.6 billion) on a consolidated basis, sharply up from an operating profit of 670 billion won, the company said in a regulatory filing. The third-quarter operating income marks the highes
Oct. 13, 2021
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S. Korea's cartoon exports surge 40.9% in 2020
South Korea's cartoon exports jumped more than 40 percent in 2020 from a year earlier amid the growing global popularity of Korean pop culture, a report said Wednesday. Outbound shipments of cartoons, including webtoons, stood at $64.82 million last year, up 40.9 percent from a year earlier, according to the report from the Korea International Trade Association (KITA). The growth rate far exceeds the 6.2 percent on-year increase in exports of the country's overall cultural content. In particu
Oct. 13, 2021
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S. Korean shipbuilders outstripped by China in Sept. orders
South Korean shipbuilders lagged sharply behind their Chinese rivals in terms of new orders in September, losing the top position that they had maintained for the last four months. Local shipbuilders led by Hyundai Heavy Industries Co. grabbed a combined 910,000 compensated gross tons (CGTs) in new orders last month, accounting for 28 percent of 3.28 million CGTs of global orders, according to data provided by global market researcher Clarkson Research Service. Chinese shipbuilders far outpace
Oct. 13, 2021
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LG units to repay GM W1.4t for Bolt EV battery recall costs
LG Electronics Inc. and LG Energy Solution said Wednesday that they will repay General Motors Co. about 1.4 trillion won ($1.2 billion) in costs for the recalls of Bolt electric vehicles due to battery defects. The two flagship units of South Korea's LG Group have reached an agreement with GM on how to cover the expenses for the recalls on some 143,000 Bolt vehicles over battery fire risks. The two LG units said they will set aside 480 billion won and 620 billion won in costs in the third qu
Oct. 13, 2021