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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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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Man killed by fellow hunter who mistook him for wild boar
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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[Newsmaker] Samsung heir's return to jail postponed due to extended hospital stay
Samsung Electronics Vice Chairman Lee Jae-yong, the de facto leader of Samsung Group convicted of bribery, will return to jail later than the scheduled date, industry sources said Friday, after doctors recommended longer hospital care following his appendicitis surgery. Lee was transferred from Seoul Detention Center in Uiwang, Gyeonggi Province, to Samsung Medical Center in southern Seoul on March 19 to receive the surgery after suffering a ruptured appendix. The 52-year-old tycoon was suppos
April 9, 2021
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GS to ramp up ESG efforts with green biotech startups
GS Group kicked off a mentoring camp with biotech startups on Thursday as part of environmental, social and governance efforts, with plans to pursue eco-friendly business projects together. A total of six startups have been chosen to be part of the camp dubbed the GS Challenge based on their business potential after 85 startups in the biotech field applied for the acceleration program. The South Korean conglomerate known for its energy and retail businesses said it will provide mentoring on tec
April 8, 2021
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Renault Samsung brings back XM3, eyes growing SUV market
Renault Samsung, the South Korean unit of French carmaker Renault, has successfully brought back its popular XM3 model to the market after dealing with technical issues, officials said Thursday. The subcompact SUV comeback follows after facing a string of challenges right from the beginning. Its launch in March last year came amid the country’s first mass outbreak of COVID-19 but the automaker managed to pull off the event by introducing contactless promotion and sale strategies. Anot
April 8, 2021
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Daewoo Shipbuilding opens digital center for shipbuilding process
Daewoo Shipbuilding & Marine Engineering Co. said Thursday that it has opened a center to control the shipbuilding process at its shipyards. The center at its Okpo shipyard on Geoje Island, 398 kilometers south of Seoul, is made up of two parts -- the smart production management center and smart sea trial center -- Daewoo Shipbuilding said. The smart production management center will check the locations of blocks being built at the shipyard and will help workers make quick decisions by sha
April 8, 2021
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Samsung Heavy wins certificates for wind turbine installation vessel
Samsung Heavy Industries Co. said Thursday that it has obtained approvals for its conceptual design for a wind turbine installation vessel (WTIV) from three global ship quality assurance and risk management companies. The three companies are ABS from the United States, DNV GL from Norway and Lloyd's Register from Britain, Samsung Heavy Industries said. A conceptual design refers to the basic concept and characteristics of the vessel before confirming its specifications and required technologi
April 8, 2021
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KT Sat to expand satellite telecommunications services in Indonesia
KT Sat Co., a satellite service arm of South Korean telecom giant KT Corp., said Thursday it has won an order to establish a high-speed satellite telecommunications network in Indonesia's Papua province. The company said it will take part in the Indonesian government-led project to offer telecommunications services for 3.4 million Indonesians and up to 1,300 schools and public facilities in the province by partnering with local satellite internet service provider DTP. A KT Sat official said th
April 8, 2021
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Hyundai Motor halts plant amid chip shortage
Weighed down by a prolonged global semiconductor shortage, South Korea’s leading carmaker Hyundai Motor is temporarily halting some of its key production lines this month. The suspension raised the alarm not only for the auto company but also for its subcontractors and local staffers. Hyundai Motor said Wednesday that it has suspended its No. 1 plant in Ulsan for a week until April 14, due to the lack of electric control units. The corresponding plant is where the automaker manufacture
April 7, 2021
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Hanwha to study building solar panels above crops
South Korea will launch a pilot study into dual-use solar farms where panels are installed above crops so as to maximize the use of limited land space while striving towards a renewable future. Hanwha Q Cells will join a consortium led by Yeungnam University to research and develop necessary systems and standardize the solar farm model. MDS, a local solar company, is also participating in the project. “Solar panels and crops can coexist because crops have limits in the amount of sunlig
April 7, 2021
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HYBE shares hit a 5-month high after Ithaca acquisition announcement
The stock price for HYBE, the company behind BTS, continues to rise after it announced last week plans to purchase media company Ithaca Holdings. According to Korea Exchange, HYBE’s shares were traded at the price of 271,000 won ($242) per share at 2:08 pm Wednesday, up more than 4 percent from a previous close and extending its rising streak to a fifth day after the announcement of the surprise move. HYBE is traded on the bourse as Big Hit Entertainment, the company’s name before i
April 7, 2021
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SK hynix in talks with Bosch over supply of automotive memory chips: sources
SK hynix Inc., South Korea's second-largest chipmaker, is in talks with German auto parts giant Robert Bosch GmbH over a long-term supply of automotive memory semiconductors, industry sources said Wednesday. SK hynix, the world's No. 2 DRAM vendor, is reportedly seeking to supply automotive DRAM chips to Bosch for at least 10 years, the sources said. The company declined to comment on the issue. If the two sides reach an agreement, SK hynix will get its first long-term contract in the area
April 7, 2021
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SK hynix settles chip patent dispute with Netlist
SK hynix Inc., South Korea's second-largest chipmaker, said Wednesday it has reached a settlement with US-based Netlist Inc. over memory technology patents. The two sides agreed to a patent cross license covering chip technologies of both companies. Under the deal, SK hynix will gain access to Netlist's portfolio of US and foreign patents. Netlist will receive a royalty from SK hynix, a cross license to SK hynix's patent portfolio and supply of its memory and storage products. Industry obse
April 7, 2021
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LG Electronics launches high-efficiency solar modules
LG Electronics Inc. on Wednesday introduced its new solar modules that boast high efficiency as the South Korean tech giant aims to expand its presence in the clean energy sector. LG said its NeON H series solar modules will hit the shelves later this month starting in countries like South Korea, the United States, Germany and Australia. The latest solar modules use N-type bifacial solar cells that are used in premium solar products, according to LG. It also applied half-cut technology that l
April 7, 2021
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Naver invests $150m in Indonesian media firm
Naver Corp., South Korea's top internet portal operator, said Wednesday it has made a strategic investment of $150 million in Indonesian media giant Emtek to strengthen its foothold in the Southeast Asian market. Emtek operates broadcast channels, as well as the over-the-top service Vidio, overseeing media content production and distribution. Through the investment, the two companies aim to collaborate and find new business opportunities, such as in webcomics and cloud technology, in Indonesia
April 7, 2021
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LG Electronics expects best-ever quarterly earnings in Q1
LG Electronics Inc. on Wednesday expected its best-ever quarterly performance in the first quarter as its home appliance and TV sales apparently basked in pent-up demand amid the pandemic. In its earnings guidance, the South Korean tech firm projected its operating profit at 1.51 trillion won ($1.3 billion) for the first three months of 2021, up 39.2 percent from a year earlier. Its first-quarter operating income estimate beat the market consensus of 1.27 trillion won in the survey on seven b
April 7, 2021
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Netmarble signs up star composer Joe Hisaishi for new game
From legendary Studio Ghibli composer to K-pop megastar Blackpink, South Korean game companies are recruiting big names to take things up a notch for their marketing schemes. On April 1, Korean game publisher Netmarble hired composer Joe Hisaishi as a spokesperson for the company’s new game Second Country: Cross Worlds, set for release on April 14. Often linked to “Star Wars” composer John Williams, Hisaishi is the artist behind the music for Japanese animation studio&rsq
April 6, 2021
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[Photo News] Korea sets yet another world record in perovskite solar cell
A researcher from the Ulsan National Institute of Science and Technology holds out a perovskite solar cell, which it says boasts the world’s highest efficiency rate, Tuesday. Co-developed by UNIST, the Korea Institute of Energy Research and Swiss Federal Institute of Technology Lausanne, the next-generation solar cell can convert solar energy into usable energy at a rate of 25.6 percent. The previous record holder was the Korea Research Institute of Chemical Technology, whi
April 6, 2021
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LG Innotek introduces AI patent analysis solution
South Korean electronics components maker LG Innotek said Tuesday it has launched an artificial intelligence-based patent search and analysis system that can handle a task 900 times faster than human. According to the affiliate of LG Group, the system can process 50,000 pieces of patent data in four hours, which would otherwise require five workers to work eight hours a day for 100 days. “This is possible thanks to the AI-powered automatic sentence recognition model co-developed with
April 6, 2021
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Creditor, authorities make last-minute efforts to revive SsangYong Motor
Market anticipations faded out on SsangYong Motor’s business restoration as its sole likely investor remained indecisive over acquiring the stake in the cash-strapped carmaker. While the carmaker struggles to stay afloat and financial authorities tilted toward allowing more time, eyes have turned to main creditor Korea Development Bank, which is likely to be the linchpin in the volatile scenario. State-run lender KDB is set to send its written statement to the Seoul Bankruptcy Court
April 6, 2021
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Posco unit may sever its biz ties with Myanmar's military conglomerate
POSCO C&C, an affiliate of South Korea's steel giant POSCO Group, said Tuesday it is studying various options to reconsider its business ties with Myanma Economic Holdings Public Company Limited (MEHL), one of Myanmar's two largest military holding companies. The move by the maker of surface-treatment steel sheets came amid mounting international outcry against Myanmar's military over its bloody crackdown on citizens following a coup in February. POSCO owns a 70 percent stake in Myanmar PO
April 6, 2021
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[Photo News] Music for everyone
S-Oil CEO Hussain A. Al-Qahtani (left) delivers 100 million won ($89,129) to Heart-to-Heart Foundation Chairman Oh Ji-chul at S-Oil’s headquarters in Mapo-gu, Seoul, Tuesday. The money will be used to support the foundation’s orchestra, made up of youngsters with developmental disabilities. (S-Oil) (khnews@heraldcorp.com)
April 6, 2021