Most Popular
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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'Culinary Class Wars' producers deny trying to spice up results
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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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20 minors registered as CEOs making over 100 million won
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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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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LG Household & Health Care Q1 net up 10.5% on brisk sales
South Korean household goods and cosmetics maker LG Household & Health Care Ltd. said Thursday its first-quarter net profit rose more than 10 percent on robust sales despite the coronavirus pandemic. Net income came to 258.8 billion won ($231.9 million) in the January-March period, up 10.5 percent from a year earlier, the company said in a regulatory filing. Its operating profit expanded 11 percent on-year to 370.6 billion won. Sales climbed 7.4 percent to 2.04 trillion won. The operating
April 22, 2021
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Samsung to introduce BESPOKE HOME products globally next month
Samsung Electronics Co. will introduce its expanded lineup of customizable home appliances to global audiences next month as the South Korean tech giant aims to boost sales amid the pandemic-driven stay-at-home trend. Samsung sent media invitations on Wednesday for its BESPOKE HOME online event on May 11 to showcase its latest products and technologies that can enrich users' home experiences. BESPOKE is a brand promoted by Samsung that allows consumers to tailor their own configurations by mat
April 22, 2021
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S. Korea to invest W114tr by 2030 to expand railway network
South Korea will invest 114.7 trillion won ($102.7 billion) over the next decade to expand the railway network for major cities across the nation, the transport ministry said Thursday. The fourth nationwide railway plan aims to extend the railway from the current 4,274 kilometers to 5,137 km by 2030 to allow people to travel across the nation in less than three hours, the Ministry of Land, Infrastructure and Transportation said. The project would raise the railway transportation capacity to ab
April 22, 2021
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Hankook Tire supplies tires for Porsche sports car
Hankook Tire & Technology Co., the world's seventh-largest tiremaker by sales, said Thursday it began to supply tires for the Porsche 718 Boxter this year. Hankook Tire has provided the high-performance Ventus S1 evo 3 tires for the sports car since early this year, the company said in a statement. The company did not provide the exact time frame for the supply deal or the value of the deal. It has provided its original equipment (OE) tires for Porsche's Macan SUV, Cayenne SUV, and elect
April 22, 2021
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Samsung SDS swings to black in Q1
Samsung SDS Co., an IT service unit of Samsung Group, on Thursday said it swung to the black in the first quarter of 2021 on the back of robust cloud business and logistics platform projects. The company reported net profit of 158.5 billion won ($141.7 million) in the January-March period, shifting from a loss of 30.3 billion won a year earlier. Its operating profit jumped 26.8 percent on-year to 217.1 billion won, while sales rose 25.7 percent on-year to 3.06 trillion won in the first three m
April 22, 2021
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Naver Webtoon eyes IPO in US
Naver is considering listing its web cartoon in the US as part of efforts to go global, Bloomberg News reported Wednesday. Naver’s chief financial officer Park Sang-jin said the company is eyeing more dollar bond sales and a possible future US initial public offering for Naver Webtoon, according to the wire service. “To grow, it’s inevitable that we go global,” Park was quoted as saying. “We should find business opportunities and meet capable partners to suppleme
April 21, 2021
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FTC digs into Google’s disputed app billing
South Korea’s antitrust watchdog set out to investigate US-based tech giant Google on its enforcement of the disputed “in-app billing” system, responding to market backlash that the given payment system is an abuse of power by a market monopolizer. The Fair Trade Commission has recently placed a research and service order to figure out ways to restore fair competion in the mobile app market, officials said Wednesday. The research will involve interviews with app developers on
April 21, 2021
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KT says sorry for slow internet provided to most expensive plan subscribers
KT, one of South Korea’s top three telecom carriers, said Wednesday it has found 24 subscribers to its most expensive internet plan, which guarantees a connection of 10 gigabits per second, were not getting the high-speed connection they were paying for. “Our investigation has found that an error has occurred in our customer data during the process of expanding and upgrading network facilities,” the firm said in a statement posted on its website, offering an apology and compe
April 21, 2021
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S. Korea to introduce standardized ESG index
South Korea will launch a standardized environmental, social and governance index as businesses are confused by more than 600 different ESG indices existing home and abroad. The Ministry of Trade, Industry and Energy on Wednesday held a conference with firms interested in ESG efforts and unveiled a draft of the envisioned measure, following President Moon Jae-in’s call for ESG standards at the 48th Commerce and Industry Day ceremony held on March. 31. The government-envisioned index, w
April 21, 2021
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Kimchi exports hit all-time high in Q1
South Korea’s kimchi exports hit an all-time high in the first quarter of this year, recording the biggest trade surplus, government data showed on Wednesday. Overseas sales of kimchi recorded $46.6 million in the first quarter, breaking the previous record of $42 million in the second quarter of 2020, according to the Korea Customs Service and the food industry here. Imports was $38.5 million in the first quarter. The trade surplus of $8.06 million marks the biggest in 11 years and th
April 21, 2021
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Regulator to accelerate review of SK hynix's acquisition of Intel's NAND biz
South Korea's antitrust regulator said Wednesday it will speed up its review of SK hynix Inc.'s deal to acquire US chipmaker Intel Corp.'s NAND business. Last October, SK hynix, the country's No. 2 chipmaker, signed a deal to buy Intel's non-volatile memory unit for $9 billion, and it submitted an application for approval to the Korea Fair Trade Commission (KFTC) in January. "We will proceed with the review as swiftly as possible in a way that does not hamper an industry realignment in th
April 21, 2021
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Hyundai Motor says not selling loss-making railway-making affiliate
South Korean automaker Hyundai Motor Co. on Wednesday denied rumors that it is considering the sale of its loss-making railway affiliate, Hyundai Rotem. Hyundai Motor said in a regulatory filing that it is not pushing to sell its 33.8 percent stake in Hyundai Rotem. Hyundai Rotem runs businesses in three main areas -- railway vehicles, defense products and industrial plants. Its railway business accounts for nearly half of its sales but has been in the red for the last three years, having pos
April 21, 2021
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Listed firms' dividend payouts at 5-year high in 2020
South Korean listed firms' dividend payouts reached the highest in five years last year as their earnings were better than expected and they sought to improve shareholder value, the bourse operator said Wednesday. Combined dividend payments by 529 out of 769 companies on the main bourse, which close their books in December, came to 33.2 trillion won ($29.7 billion) last year, up 60.3 percent from the previous year, according to the Korea Exchange (KRX). But their average payout ratio, the perc
April 21, 2021
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Hyundai Motor resumes production of sedans with eased chip shortage
South Korean automaker Hyundai Motor Co. said Wednesday it has resumed production at a domestic plant for Grandeur and Sonata sedans after two days of suspension following eased chip supply shortages. Hyundai Motor said in a regulatory briefing it reopened the Asan plant, about 100 kilometers south of Seoul, which went offline between Monday and Tuesday following a two-day suspension last week. The company estimated production losses of about 4,100 production units this month due to the suspen
April 21, 2021
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Doosan Mobility Innovation joins Dutch offshore energy project
Doosan Mobility Innovation (DMI), a South Korean drone maker, said Wednesday that it has teamed up with a Dutch government agency to utilize its drones for an offshore energy project in the European country. DMI has joined hands with the Development Agency Noord-Holland Noord (NHN) to take part in the offshore technology innovation program named Maritime Emerging Technologies Innovation Park (METIP), the company said. DMI's hydrogen fuel cell-propelled drones that can fly for more than two hou
April 21, 2021
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Kumho Mitsui Chemicals to invest W400b to expand chemicals production
Kumho Mitsui Chemicals Inc. said Wednesday it will invest about 400 billion won ($358.1 million) to expand its chemical manufacturing factory in South Korea's southwestern region. The joint venture between Korean synthetic rubber maker Kumho Petrochemical and Mitsui Chemicals of Japan said its shareholders approved the investment plan to scale up a methylene diphenyl diisocyanate (MDI) factory in Yeosu, 455 kilometers southwest of Seoul. MDI is a core material of polyurethane, which is used
April 21, 2021
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Hanwha Q Cells to supply solar modules for Angola's solar project
Hanwha Q Cells, a solar solutions unit of South Korean conglomerate Hanwha Group, said Wednesday it will provide solar modules for a 370-megawatt solar farm project in Angola. Hanwha Q Cells said it will supply photovoltaic modules for the project that plans to build seven solar farms in the South African nation, without elaborating on the amount of the contract. The solar project aims to provide electricity to 2.4 million residents in Angola, and will cut 940,000 tons of carbon emissions a ye
April 21, 2021
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Hyundai Motor, BTS collaborate for Earth Day campaign
South Korean automaker Hyundai Motor Co. said Wednesday it has collaborated with K-pop icon BTS to suggest people take eco-friendly actions in their daily lives to protect the environment in a campaign film celebrating Earth Day. In the one-minute YouTube video themed "For Tomorrow We Won't Wait," BTS raises awareness on the importance of sustainable practices and promotes hydrogen as a source of clean energy. It was Hyundai Motor's second Earth Day video starring BTS, following the
April 21, 2021
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S-Oil’s total car management platform ‘Eurecar’ assembles partners
S-Oil said Tuesday that the company has signed Kumho Tire as the first partner for its all-in-one car management platform “Eurecar.” Set for release next year, the mobile app will offer a wide spectrum of services from non-face-to-face charging and payment services at S-Oil gas stations, to dialing designated drivers, valet parking and making car wash reservations. “The partnership with Kumho Tire will allow customers to purchase tires on the Eurecar app and replace tires
April 20, 2021
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[Herald Interview] World’s No. 1 Tekken player vows to keep playing until 100 trophies
A falling apple prompts a young Isaac Newton to develop laws of gravity. Greek philosopher Archimedes figures out volume and density while taking a bath. For geniuses, every detail is a source of inspiration. For Tekken genius Bae Jae-min, also known as “Knee,” his inspiration for developing a killer combo move came from a frivolous skill that baffled other players over why it even existed. The “taunt” skill is a trademark move of Bryan Fury, a character from Tekken,
April 20, 2021