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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Netflix, streaming platforms come under fire for loose ratings
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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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20 minors registered as CEOs making over 100 million won
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Yoon honors veterans of Korean War in trip to Philippines
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K-pop CEOs sidestep key issues at National Assembly audit
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SsangYong to select preferred bidder next month
SsangYong Motor Co. and its lead manager said Tuesday they will select a preferred bidder and a secondary preferred bidder for the financially troubled carmaker by mid-October. SsangYong Motor, the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., and the bankruptcy court-appointed lead manager EY Hanyoung accounting firm were originally planning to pick the preferred and secondary bidders by the end of this month. "We are planning to announce the selection of a preferred b
Sept. 28, 2021
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Number of farmers, fishermen continues to fall in S. Korea
The number of South Koreans in the agrofisheries sector is continuing to fall because of a rapid aging and urbanization trend in the country, government data showed Tuesday. Households engaging in the farming business totaled 1.03 million last year, down 4.9 percent from 1.08 million tallied in 2015, according to the data compiled by Statistics Korea. The number of farmers also fell to 2.34 million in 2020, compared with 2.56 million tallied in 2015. In the fishing sector, the number of families
Sept. 28, 2021
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1 in 5 Korean companies unable to meet interest obligations in 2020: survey
One out of 5 companies in South Korea could not meet its debt obligations for the past three years, a report showed Tuesday. According to an analysis by the Korea Federation of Industries, Korea ranked fourth among 25 member nations of the Organization for Economic Cooperation and Development, with 18.9 percent of its large companies classified as “marginal” as of 2020. A company is categorized as being marginal when its operating profit fails to cover interest payment obligation
Sept. 28, 2021
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Guatemala eyes joining S. Korea-Central America FTA
South Korea's trade ministry said Tuesday it is currently under negotiations with Guatemala to invite the Central American country to a multilateral trade pact that fully went into effect this year. Trade Minister Yeo Han-koo met his Guatemalan counterpart, Antonio Malouf, in Seoul to discuss Guatemala's entry into the free trade agreement (FTA) between Asia's No. 4 economy and a group of Central American nations. South Korea and five Central American nations -- Costa Rica, El Salvador, Panama,
Sept. 28, 2021
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S. Korea, Italy to join deeper ties in biotechnology, green energy sectors
South Korea's trade ministry said Tuesday it is seeking to forge a deeper partnership with Italy in the biotechnology and eco-friendly energy segments to brace for the post-pandemic recovery and seek sustainable economic growth. South Korea and Italy plan to hold their first round of the strategic meetings for bilateral cooperation in industry and energy in Rome on Tuesday (Italy time), according to the Ministry of Trade, Industry and Energy. The meeting comes as South Korea and Italy agreed to
Sept. 28, 2021
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[Herald Interview] Improving R&D productivity crucial amid growing tech competition: IP agency chief
In this time of escalating rivalry for technology hegemony, it is crucial for countries to stake claims on advanced technologies in core industries in order to survive the patent war, South Korea’s intellectual property agency chief said Monday. As for South Korea, the country should work on improving research and development productivity, and also utilize big data analytics for patent protection, Kim Yong-rae, commissioner of the Korean Intellectual Property Office, said in an interview
Sept. 28, 2021
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S. Korean shippers forecast to log record earnings for Q3
South Korean shipping lines are expected to chalk up record earnings for the third quarter of the year thanks to surging freight rates, a market tracker said Tuesday. HMM Co., South Korea's largest container shipper, is projected to post a consolidated operating income of 1.82 trillion won ($1.54 billion) for the July-September, according to an analysis of brokerage house forecasts. That would break HMM's operating income record of 1.39 trillion won set in the previous quarter, which was up 901
Sept. 28, 2021
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Samsung loses ground in smartphone image sensor market in H1: report
Samsung Electronics Co. remained in second place in the global smartphone image sensor market in the first half of the year, a report showed Tuesday, although its share declined from a year earlier. Samsung captured a 25 percent revenue share in the first six months of the year, down from 28 percent a year ago, according to market researcher Strategy Analytics. Sony dominated the market with a 42 percent revenue share, slightly down from 45 percent a year earlier, while OmniVision came in t
Sept. 28, 2021
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SK Innovation, Ford to invest W13tr to build three US battery plants
South Korean battery maker SK Innovation Co. and American automaker Ford Co. said Tuesday they will invest 13 trillion won ($11 billion) to build three electric vehicle batteries in the United States by 2025. A joint venture between the two companies, called BluOvalSK, will build an assembly and battery complex in Tennessee, and two additional battery factories in Kentucky, which will be the single largest investment in Ford's 118-year history, the two companies said in a statement. The three fa
Sept. 28, 2021
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[Herald Interview] Cars are going electric. What about ships and airplanes?
The whole world is talking about the electric future of mobility, with auto brands churning out a dizzying array of electrified passenger cars. But for commercial vehicles such as cargo trucks, airplanes and freight ships -- which have to carry as many payloads as possible -- batteries are simply too heavy and expensive. Like it or not, they need liquid fuels for the time being. In that case, why not just make a new, eco-friendly fuel out of renewable materials? During an interview with Th
Sept. 27, 2021
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Samsung to log robust Q3 earnings on chip biz, currency effect: analysts
Samsung Electronics Co. is expected to report strong third-quarter earnings on the back of its semiconductor business and a weak won, analysts said Monday. The South Korean tech giant was projected to log 16.3 trillion-won ($13.8 billion) in operating profit for the July-September period, up 31.9 percent from a year earlier, while its sales were forecast to increase 12.2 percent on-year to 75.1 trillion won over the period, according to the data from nine local brokerage houses compiled by Yonh
Sept. 27, 2021
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UNIST develops world‘s 1st all-in-one VR gloves with heat, vibration, motion controls
Ulsan National Institute of Science and Technology said Monday it has developed the world’s first virtual reality gloves with heat, vibration and motion controls all integrated together. According to UNIST, the VR gloves track angles of two joints on each of the fingers in real-time and reflect the changes on the display. Also, the gloves can feel subtle vibrations and temperatures. “If a user grabs an item inside hot water, a sudden change of temperature will be delivered realis
Sept. 27, 2021
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Doosan Fuel Cell ships first hydrogen fuel cells for power generation
Doosan Fuel Cell on Monday shipped four hydrogen fuel cells worth $13.2 million to China in what was marked as South Korea’s first export of the product. According to the Ministry of Trade, Industry and Trade Monday, the fuel cells with a combined capacity of 1.8 megawatts will be installed at seven apartment buildings of 400 households and one commercial building in Foshan, Guangdong province. The fuel cells will generate heat and electricity. The fuel cells were manufactured almost e
Sept. 27, 2021
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Hyundai restarts local plant on resumed parts supply
Hyundai Motor Co. said Monday it has restarted production at a local plant on the resumed supply of electronic components. Hyundai Motor halted the Asan plant from Sept. 15-17 due to a lack of chip parts, resulting in production losses of 3,000 vehicles, the company said in a regulatory filing. The 300,000-unit-a-year Asan plant produces the Sonata sedan and the Santa Fe SUV. Previously, the Asan plant suspended operations on Sept. 9 and 10 due to the parts problems and from July 13 to Aug.
Sept. 27, 2021
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LCS Group chief sees potential in Korea’s east coast
Luis Chavit Singson, chairman of the Philippines’ LCS Group of Companies, sees a lot of business potential on South Korea’s eastern coast, having recently committed $100 million investment in a residential, commercial and resort development project there, the group said on Sunday. LSG Group recently announced its investment by 2025 in the Mangsang District 1 development project in the East Coast Free Economic Zone (EFEZ), its first such project in Korea. The tycoon, who
Sept. 26, 2021
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[Herald Interview] SK Functional Polymer seeks to stay ahead of curve in green technology
SK Functional Polymer is a Paris-based subsidiary of petrochemical company SK Geo Centric that produces thermoplastic materials used in packaging and automotive industries. Pascal Sauvaire, chief operating officer of SK Functional Polymer, says the most important thing for the company is “to stay ahead of the curve in terms of green technology, trends and solutions.” “Recycling and the green economy have been the main trends in the packaging industry for some time,”
Sept. 26, 2021
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[Herald Interview] LIG Nex1 to develop Korea’s own satellite navigation system
This is the last installment in a series of interviews with executives of Korean companies with space ambitions. -- Ed. Every single one of South Korea’s 51 million inhabitants relies in some way on the Global Positioning System, the navigation system provided by a constellation of 31 satellites owned by the US. Since 1983, the US has offered its GPS service for free. Now, satellite navigation has seeped into every field of industry, from car navigation to logistics, and many aspects
Sept. 26, 2021
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[Advertorial] LG Chem makes materials procurement as simple as grocery shopping
From product browsing to technical support, LG Chem’s integrated digital sales platform “LG Chem On” allows customers to find the right materials they need with just a few clicks. Launched June 1, the platform makes the complicated process of business-to-business procurement as easy as ordering groceries online. Before, clients of LG Chem, such as manufacturers of home appliances or automobile parts, had to first register by email to access product information, then meet w
Sept. 26, 2021
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Samsung seeks to ‘copy and paste’ brain for chip design
Samsung Electronics and Harvard on Sunday introduced a new approach to mimicking the mechanism of a human brain on a memory chip. In a paper published in Nature Electronics, Samsung engineers and Harvard researchers explained how to create memory devices that can better mimic the unique computing traits of a human brain -- low power, facile learning, adaptation to environment and autonomy and cognition. The paper suggests copying the brain’s neuronal connection map using nano-electrod
Sept. 26, 2021
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Major carriers to see robust earnings in Q3 on increased cargo rates
South Korea's full service carriers, including Korean Air Lines Co., are predicted to post strong earnings in the third quarter of the year on the back of a rise in air cargo rates, analysts said Sunday. In a consensus estimate of 10 analysts by Yonhap Infomax, the financial news arm of Yonhap News Agency, Korean Air is forecast to record 176.8 billion won ($150 million) in operating profit in the July-September period, a turnaround from an operating loss of 31.4 billion won in the same period a
Sept. 26, 2021