Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Seoulites celebrate coexistence at Wellness Seoul 2024
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First lady’s Dior bag scandal to be at center of Assembly audit
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Yoon honors veterans of Korean War in trip to Philippines
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Online platform operators to face stern measures over unfair biz practices: regulator
South Korea's antitrust regulator said Friday it will seek to take punitive actions against unfair business activity by online platform operators in a bid to protect contractors and consumers. The Korea Fair Trade Commission (KFTC) plans to submit a bill designed to prevent unfair business activity by online platform operators to the National Assembly next week, the regulator said in its 2021 policy plan. Under the bill, online platform operators will be levied with a hefty fine if they conduc
Jan. 22, 2021
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At least 5 ships to be deployed to address soaring freight rates
South Korea said Friday it plans to deploy at least five vessels by the end of February to support exporters facing troubles from a hike in freight costs amid soaring demand. Under the plan, HMM Co., the country's leading shipper, will operate a ship with a capacity of 4,600 twenty-foot equivalent units (TEU) on the American route in January, according to the Ministry of Trade, Industry and Energy. TEU is a measure used for the capacity of container transportation. SM Line Corp., another loca
Jan. 22, 2021
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ULikeKorea, Sumitomo sign deal on Japanese pet care market
ULikeKorea on Thursday announced that it had signed a memorandum of understanding with Sumitomo Corporation Korea to develop a health care tracker chip for pets in Japan. While existing microchip implants for dogs and cats reveal their identification serial numbers and can be used to trace lost animals back to their families, the proposed new product could enable real-time monitoring of an animal’s body temperature and activity levels through a mobile application. With this information, p
Jan. 21, 2021
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Hanwha sets eyes on green hydrogen
Market turbulence brought on by the pandemic has left many companies in shambles. Some forward-looking corporations took the unease as an opportunity to reset and refocus, in order to emerge stronger in the post-pandemic era. For Hanwha Solutions, this was a prime time to invest. Aiming to dominate the global solar-to-hydrogen business, the Hanwha Group company announced last month a plan to raise 1.2 trillion won ($1.09 billion) through rights offering. The new share issue is part of the
Jan. 21, 2021
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LG Group chief is richest Korean under 50
Among South Korea’s rich stockholders aged under 50, LG Group Chairman Koo Gwang-mo ranks No.1 with an estimated stock value of 2.8 trillion won ($2.55 billion), industry data showed Thursday. Also, in the superrich group of those with stock assets worth more than 1 trillion won, two were chaebol heirs while the other two were self-made men in the up-and-coming entertainment and game industries -- reflecting the market changes over recent years. The number of those under 50 and with s
Jan. 21, 2021
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Kim Dong-kwan reinvents Hanwha’s identity as renewable energy leader
From a wartime gunpowder supplier to a retail-to-finance conglomerate, Hanwha Group has made quite a transformation in its near seven-decade history. Yet, its change from now on may be even more dramatic, as the group with 86 affiliates and total assets of 71 trillion won redefines its core to future-leading technologies such as solar power and hydrogen. At the very center of this ongoing shift in Hanwha’s identity stands Kim Dong-kwan, the eldest son of Hanwha Group Chairman Kim Seun
Jan. 21, 2021
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To infinity, and beyond: Hanwha enters global satellite race
A new space race has begun in the US, as billionaire entrepreneurs Elon Musk and Jeff Bezos set out to launch thousands of small satellites to provide high-end internet coverage everywhere around the globe. Although a late comer to the space in general, South Korea, too, has an ambitious player seeking to join the race -- the defense units of Hanwha Group. At the forefront is Hanwha Aerospace, which manufactures aircraft components and commercial engine parts. The group announced last mont
Jan. 21, 2021
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LG Energy Solution No.1 in battery, Hyundai No.5 in electric vehicle markets
LG Energy Solution topped the global market of electric vehicle batteries in 2020, while Hyundai Motor and its sister company Kia have ranked fifth in the global electric vehicle market. According to market tracker EV-Volumes, the country’s battery giant LG Energy Solution deployed the most electric vehicle batteries in the world – a total of 34.5 gigawatts, or enough to power 700,000 electric vehicles. LG was followed by China’s CATL and Japan’s Panasonic, which sold
Jan. 21, 2021
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Lee’s 1st message from prison: ‘Compliance drive should continue’
Samsung heir Lee Jae-yong finally broke his silence, three days after he was sent back to prison on Monday for bribing former President Park Geun-hye. In a message sent via his attorneys on Thursday, the Samsung Electronics vice chairman reaffirmed the importance of his ongoing drive to establish a law-abiding culture at the conglomerate. “While reaffirming my continued support for Samsung’s legal compliance monitoring committee, I implore its chairman and its members to carry
Jan. 21, 2021
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[Photo News] Wait in line
Hydrogen-powered vehicles wait in line for a free refueling at a rest area along a highway in Chuncheon, Gangwon Province, Thursday. The hydrogen station, which is on a trial run, is offering free refueling Thursday and Friday between 11 a.m. and 4 p.m. for up to 2 kilograms of hydrogen. (khnews@heraldcorp.com)
Jan. 21, 2021
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Pfizer to submit application for COVID-19 vaccine approval by end-Jan.
A local office of global pharmaceutical company Pfizer Inc. is expected to submit an application for the approval of its COVID-19 vaccine to South Korea's drug safety agency, industry sources said Thursday. The company is planning to submit the application to the Ministry of Food and Drug Safety before the end of this month, they said. Approval would mark the country's first batch of vaccines as part of a procurement program. Earlier, the government signed a COVID-19 vaccine procurement contra
Jan. 21, 2021
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Experts discuss how Korean biotech firms can attract US investments
Exactly a week after the year’s biggest global investor relations event JP Morgan Healthcare Conference wrapped up on Jan. 14, Korean biotech firms were still more than eager to pitch their businesses to the US investors in a spin-off event, held virtually on Thursday. There were several key takeaways from the event’s panel talk comprising members from US law firm Sidley Austin, US venture capital firm Novatio and a couple of Korean biotech firms who have made exemplary forays into
Jan. 21, 2021
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Posco’s LNG-powered bulk carrier successfully finishes first trip
The world’s biggest LNG-powered bulk carrier has successfully returned from its first trip to bring in iron ore to South Korea, the country’s leading steelmaker said Thusday. Posco introduced two bulk carriers, dubbed HL Eco and HL Green, in December in line with its efforts to reduce gas emissions in its business operations. According to Posco, HL Green has successfully completed its first trip from Mokpo, South Jeolla Province, to Australia, and brought back 180,000 metric ton
Jan. 21, 2021
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Preorders for Galaxy S21 tipped to be larger than its predecessor
Preorders for Samsung Electronics Co.'s new flagship smartphone line are estimated to be larger than those of its predecessor, industry insiders here said Thursday, as the South Korean tech giant targets brisk sales of its latest 5G handsets. Preorders for the Galaxy S21 series are expected to be 15-20 percent more than those of the Galaxy S20 family, according to industry officials, apparently on the back of increased orders for unlocked phones. In South Korea, a weeklong preorder period star
Jan. 21, 2021
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Hyundai Motor opens ultra-fast EV charging station in Seoul
Hyundai Motor Co. said Thursday it opened an ultra-fast charging station for electric vehicles (EVs) in southeastern Seoul in the latest move that could boost convenience for drivers of zero-emission cars. Hyundai Motor and SK networks, a chemical and energy company, jointly transformed an old gas station into South Korea's largest ultra-fast EV charging station spanning 4,066 square meters, the companies said. The station has eight 350 kWh high-speed chargers developed by Hyundai Motor, which
Jan. 21, 2021
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Samsung Display to mass-produce 90Hz OLED screens for laptops
Samsung Display Co. said Thursday it will mass-produce organic light-emitting diode (OLED) displays for laptops with a higher refresh rate in the first quarter of the year as the South Korean panel maker eyes increasing sales amid the pandemic. Samsung Display said the mass production of its 90Hz OLED screen for laptops will begin in March. The affiliate of Samsung Group said most laptops in the market currently come with a 60Hz refresh rate display, but its latest product will deliver a more
Jan. 21, 2021
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SK Innovation invests in China's EV battery swap station operator
SK Innovation Co., a South Korean refinery-to-battery company, said Thursday it has invested in a Chinese battery swap system provider to step up its battery business in the world's largest market. SK Innovation said it acquired a 13.3 percent stake in Blue Park Smart Energy Technology Co. (BPSE), a subsidiary of Beijing Automotive Group, without elaborating on the financial terms. The South Korean firm said the strategic investment will boost its electric vehicle (EV) battery business in Chin
Jan. 21, 2021
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Davos Forum invites LG Chem chief for his climate change plans
LG Chem Vice Chairman and CEO Shin Hak-cheol has been invited to the World Economic Forum in Davos, Switzerland, to share the company’s strategies on the climate change. According to South Korea’s leading chemical company, Shin will give a speech on the subject during the “Mobilizing Action on Climate Change” session of the forum which will be held online Jan. 25-29. “Korean business leaders have participated in the forum before, but Shin will be the first to t
Jan. 20, 2021
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Korean business leaders get ready for Biden era
As the United States prepares to inaugurate Joe Biden as its 46th president, South Korea’s business community on Wednesday took swift steps to align itself with the new Democratic US government that will take charge of the world’s largest economy for at least the next four years. Given that Biden’s policy direction largely centers on reviving multilateralism and boosting green and digital growth -- in tune with President Moon Jae-in’s Korean New Deal package -- local
Jan. 20, 2021
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Korea eyes Novavax deal for 20 million people: Moon
South Korea may be able to secure additional vaccines for 20 million people from US drugmaker Novavax, President Moon Jae-in said Wednesday. The deal is still under negotiation, Moon said, while earlier Korean media reports suggested only being able to cover 10 million people. Earlier on this day, Moon had a virtual meeting with Novavax’ CEO Stanley Erck, during which they held an amicable discussion regarding the latter’s probable technology license issuance to SK Bioscience this
Jan. 20, 2021