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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CES attendants pick S. Korea as top-tier innovator, next to US
Those attending the Consumer Electronics Show this year received the impression that South Korea is one of the most innovative players in the world, standing next to the US and outrunning Germany and Japan. Autonomous driving was picked as the most promising business sector, while LG was seen as operating the most impressive booth, unveiling new products such as rollable phones. According to a survey conducted by the Federation of Korean Industries on 80 Korean companies that participated i
March 29, 2021
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S. Korea gives final nod to SK hynix's W120tr project
South Korea said Monday it has granted the final approval to SK hynix Inc.'s 120 trillion-won ($106 billion) project to build a new semiconductor complex, a move that could ease supply shortages in the global market. South Korea's No. 2 chipmaker has completed all necessary administrative procedures to go ahead with the project to build the complex in Yongin, about 50 kilometers south of Seoul, according to the Ministry of Trade, Industry and Energy. The announcement came about two years after
March 29, 2021
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S. Korean chipmaker Magnachip to be sold to Chinese PEF for $1.4b
South Korean chipmaker Magnachip Semiconductor Corp. has said it will be sold to a Chinese private equity fund for about $1.4 billion. Magnachip, listed on the New York Stock Exchange (NYSE), recently announced that it has signed an agreement with Wise Road Capital Ltd. and its partners to sell its entire shares. "Magnachip's management team and employees are expected to continue in their roles, and the company will remain based in Cheongju, Seoul and Gumi, South Korea," the company
March 29, 2021
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Hyundai Construction Equipment wins W250b in orders from China
South Korean construction equipment maker Hyundai Construction Equipment Co. said Monday it has bagged orders worth 250 billion won ($221 million) to provide excavators and loaders to China. The orders, the largest ones since the company began making inroads into China in 1995, include 2,200 pieces of construction equipment, such as 5.5- to 8.5-ton excavators and wheel loaders, the company said. They accounted for about 30 percent of its entire sale of about 7,800 units last year in China. Th
March 29, 2021
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Number of top 10 groups' units soars 17.5% over 5 years
The number of subsidiaries belonging to South Korea's top 10 conglomerates has jumped nearly 18 percent over the past five years to nearly 700, data showed Monday. No. 1 conglomerate Samsung and nine leading business groups had a combined 699 listed and unlisted companies under their wings as of end-December 2020, up 17.5 percent, or 104, from five years earlier, according to the data based on their business reports filed with the Financial Supervisory Service. SK Group and six other conglomer
March 29, 2021
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Are LFP batteries really safer than high-nickel batteries?
Public distrust is running high over the safety of high-nickel lithium-ion batteries after a series of electric vehicle recalls by renowned automakers including Volkswagen, BMW, Renault, General Motors, Ford and Hyundai Motor. Amid growing concerns, lithium iron phosphate batteries -- LFP batteries, which use iron instead of nickel -- have emerged as a safer alternative, though they are less powerful than high-nickel batteries. But despite the widespread belief that high-nickel batteries a
March 28, 2021
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[#WeFACE] For Posco, ESG is all part of ‘corporate citizenship’
The Korea Herald is publishing a series of interviews with executives of South Korea’s leading corporations on their response to environmental, social and corporate governance, or ESG, issues, which have become central factors globally in measuring the sustainability of an investment or business decision. -- Ed. Handling with the uncertainties and anxiety rising from the COVID-19 pandemic, businesses here and abroad have found themselves swept away by burgeoning ESG calls over th
March 28, 2021
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Doosan Infracore releases 100-ton excavators in global market
The South Korean construction equipment maker Doosan Infracore Co. said Sunday it has launched its 100-ton excavators, the biggest in its lineup in the global market, and won orders for them from Mongolia and Chile. Doosan Infracore bagged an order for one 100-ton excavator from a Chilean company, with a 100-ton excavator and a 80-ton excavator ordered by a Mongolian company, the company said in an emailed statement. Global demand for the large excavator market is estimated at about 1,000 unit
March 28, 2021
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LG Uplus to supply 5G content to Thailand's top telco
LG Uplus Corp., a major South Korean telecom operator, said Sunday it signed a deal to export $11.14 million worth of 5G solutions and content to Thailand's top mobile carrier, Advanced Info Service (AIS). Under the deal, LG Uplus will provide AIS with augmented reality (AR) and virtual reality (VR) 5G content and also oversee the rollout of the service from its testing to launch. LG Uplus said it expects its immersive 5G content, which includes Korean music shows, to gain popularity in Thaila
March 28, 2021
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[Eye Plus] A Visit to ASEAN National Recreation Forest
As spring creeps in, more people are seeking outdoor activities to take advantage of the warmer weather -- as evidenced by the recent uptrend in Korean-language Google searches for parks. Located 25 kilometers north of central Seoul, the ASEAN National Recreation Forest in the city of Yangju, Gyeonggi Province, makes for a good spot for outings with family and friends. The forest is especially accessible to those based in Seoul, Incheon, Ilsan and Uijeongbu, as it takes roughly an hour to make
March 27, 2021
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[Photo News] Lacoste crocodiles come to Garosu-gil
To celebrate the launch of a collaborative collection with Polaroid, Lacoste recently set up six pop-up zones on Garosu-gil street featuring huge, brightly colored crocodiles. Visitors to the flagship Lacoste store on Garosu-gil in Gangnam, Seoul, look through a shop window at the exhibition “Lacoste X Polaroid.” Visitors take pictures of their reflections in the store’s rainbow mirror in southern Seoul. (Photos: Yonhap) By Yoon Chae-won (choenayoon@heraldcorp.com)
March 27, 2021
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[Obituary] Nongshim Group chairman dies at age 92
Shin Choon-ho, chairman of major food company Nongshim Group, died Saturday of a chronic illness, the company said. He was 92. The group's flagship unit, Nongshim Co., is South Korea's top instant noodle maker. Born in 1930, Shin founded the food company in 1965 and became the group's chairman in 1992. (Yonhap)
March 27, 2021
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Prosecution needs to stop probe into Samsung chief's alleged propofol use: expert panel
A panel of civilian experts decided Friday to recommend that the state prosecution service halt its investigation into the allegation that Lee Jae-yong, the jailed de facto leader of Samsung Group, had taken propofol shots illegally. The committee of outside experts plans to deliver the opinion, which is not binding, to the Supreme Prosecutors Office. Among the 14 members of the panel who took part in the voting, eight opposed the continuation of the probe, and the rest favored it. They faile
March 26, 2021
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S. Korean importers tense over Suez Canal blockage
In the wake of the Suez Canal blockage that is paralyzing regional and global logistics, South Korean companies are starting to feel an impact. With importers tense over possible delays in their material and product supplies, shipping companies are expected to gain from increased fees and surplus demands. HMM, Korea’s largest and the world’s eighth-largest shipper, saw its stock price climb 15.96 percent on-day to 34,150 won ($30.20) on Friday, prolonging the uptrend for nine co
March 26, 2021
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Samsung SDS CEO vows makeover into cloud business
Samsung SDS President and CEO Hwang Sung-woo urged the company to realign itself into a cloud-based business platform that focuses on logistics and security services. “It is now time for Samsung SDS to transform into a true cloud company. Let us concentrate all strengths on cloud, logistics and security,” Hwang said Friday in an email sent out to staff and executives. Marking his first official message since taking office last December, Hwang made it clear that cloud-based busine
March 26, 2021
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SK rejects LG compensation demands, unafraid of giving up Georgia plant
SK Innovation said it cannot accept rival LG Energy Solution’s demands for damage compensation it suffered after its battery technologies were stolen, dragging on an already drawn-out settlement dispute involving the two battery makers. The corresponding remark came during the company’s annual shareholders meeting on Friday and also in the wake of LGES’ vow on the previous day that it will fight to receive reasonable compensation from SK. At the 14th shareholders meeting hel
March 26, 2021
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LG confirms launch of new holding company LX Holdings
LG Corp., the holding firm of South Korea’s fourth-largest conglomerate by assets LG Group, received approval from shareholders on Friday to set up another parent entity as part of the conglomerate spinoff plan. Set for launch on May 1, LX Holdings will take four non-electronics affiliates with promising outlooks -- LG International, LG Hausys, LG MMA and Silicon Works under its umbrella. LG Corp. will keep electronics, chemicals and communications businesses and focus on future growth e
March 26, 2021
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Samsung C&T wins $448m deal from Singapore
Samsung C&T Corp., the construction unit of Samsung Group, said Friday it has won a $604 million ($448) deal to build a section of Singapore's Mass Rapid Transit (MRT) system. Under the deal with the Land Transport Authority, Samsung C&T will build Hougang interchange station and tunnels for the Cross Island Line, the city state's eighth MRT line. The Land Transport Authority said the deal also covers the construction of additional and alteration works to the existing Hougang station a
March 26, 2021
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Daewoo Shipbuilding establishes shipyard simulation system with game engine
Daewoo Shipbuilding & Marine Engineering said Friday it launched a shipyard simulation system based on a game engine for optimized operations. According to DSME, it utilized the Unity game engine and constructed a 3D version of its actual shipyard. Inside the simulated space, DSME developed an algorithm that provides optimized transporter routes and block assembly. DSME aims to further advance the simulation system by applying cloud computing and machine learning technologies. Also, th
March 26, 2021
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Korean automotive LED makers up presence in 2020 despite market decline: report
South Korea's two major automotive light-emitting diode (LED) makers saw their revenues increase last year despite an overall market slump amid the pandemic, a report showed Friday. Seoul Semiconductor Co. and Samsung Electronics Co. maintained their status as the world's fifth- and seventh-largest automotive LED suppliers, respectively, in 2020, but their market shares and sales grew, according to market researcher TrendForce. Seoul Semiconductor's revenue jumped 3.2 percent to $130 million
March 26, 2021