Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Ex-president's daughter investigated for drunk driving accident
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'Culinary Class Wars' producers deny trying to spice up results
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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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Court rules in favor of late Lotte chairman in gift tax case
A Seoul court ruled Friday in favor of Shin Kyuk-ho, the late founder of retail giant Lotte Group, in a lawsuit he filed against the tax authority over hundreds of billions of won of gift taxes. The Seoul Administrative Court ordered a district tax office to revoke 212.6 billion won (US$196 million) of gift taxes imposed on the honorary chairman of the nation's fifth-largest conglomerate, who died in January at the age of 99. The taxes were levied after the prosecution charged Shin with tax e
Dec. 4, 2020
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SK Chairman says ESG governance will help overcome environmental crisis
SK Group Chairman Chey Tae-won said Thursday that it was important to embrace environmental, social and corporate governance and nurture empathy to overcome the current environmental crisis. Speaking at Tokyo Forum 2020, an event held jointly by the Chey Institute for Advanced Studies and the University of Tokyo, he said people are now living in the Anthropocene Epoch, a time when human activity has begun having a major impact on the environment. Chey said the “world is in urgent need&r
Dec. 4, 2020
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Korea’s exports of COVID-19 diagnostic reagents notch W2.5tr
South Korea has a new export item. COVID-19 diagnostic reagents notched a 2.5 trillion won ($2.3 billion) performance up to end-November. Diagnostic reagents are among the most fundamental components of diagnostic testing assays. Simply put, it is critical to have a well-functioning reagent to accurately discern a COVID-19 infection. According to the Ministry of Food and Drug Safety and the Korea Customs Service on Friday, Korea had exported enough COVID-19 diagnostic reagents to cover 496.8
Dec. 4, 2020
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Samsung Electronics conducts reshuffle after strong Q3 results
Samsung Electronics Co., the world's leading smartphone and chipmaker, on Friday conducted a large-scale personnel reshuffle to reward employees after reporting robust third-quarter results. Samsung Electronics has promoted a total of 214 officials to higher positions to reflect their contributions to the company's stellar performance in the July-September period, the company said in a statement. In the first and biggest personnel changes in three years, 111 general managers were promoted as
Dec. 4, 2020
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[Monitor] Lease prices for Seoul apartments soar
According to real estate prices tracked by KB Kookmin Liiv On, the average jeonse price of apartments in Seoul reached 560.69 million won ($509,829) as of November, up 23.91 million won from the previous month. Jeonse refers to South Korea‘s common lease system in which the downpayment is guaranteed for an average of two years. The rise in average jeonse price broke the 500 million mark in August following the government’s reinforced regulations aimed to protect the leasers, as we
Dec. 4, 2020
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[Time to Play] Smilegate’s Magical Atelier, adorable but overly exclusive to target users
Just like how the idea of magic rails against common knowledge, Magical Atelier appears to defy the odds, being an unconventional game that transgresses the basic laws of typical Korean mobile games. For busy commuters, mobile games are supposed to be simple and easy to play. Also, they must include elements that can trigger competition among as many users as possible to guarantee profitability. Magical Atelier, developed by Smilegate, meets neither of the two criteria. Released in South K
Dec. 3, 2020
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China opens door to Korean game, issues 1st license in 4 years
China has granted a license to a game made by a South Korean company for the first time in nearly four years, finally lifting an implicit ban on Korean games that has persisted since 2017. According to Korean mobile game developer Com2us, Summoners War: Lost Centuria has been given a foreign game service license from China‘s National Press and Publication Administration, the first such license issued since March 2017. In 2017, Korea deployed the US anti-missile Terminal High Altitude D
Dec. 3, 2020
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Posco hits lithium jackpot in Argentina, accelerates EV battery material value chain
Posco Group said Thursday its salt lake in Argentina contains 13.5 million metric tons of lithium reserves, more than six times greater than initial calculation of 2.2 million tons. Based on the massive reserves, which are enough for 370 million electric vehicles, the group aims to establish a robust value chain of EV battery raw materials. According to the South Korean steel giant, the latest exploration of the Hombre Muerto salt lake in northern Argentina conducted with a US consulting firm
Dec. 3, 2020
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[Newsmaker] How Korea held its nationwide college entrance exam with COVID-19
South Korea on Thursday held the nation’s annual rite of passage -- the Suneung, the standardized college entrance exam -- on which it’s an understatement to say that students stake their future. The question of how to hold a college entrance exam during a global pandemic has been a headache for many. In the US, the Educational Testing Service has made its graduate admissions test, the GRE, available at home in the interest of social distancing, while the College Board went back on
Dec. 3, 2020
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LS Cable & System releases series of new smart cables
South Korean cable maker LS Cable & System has recently released a series of new smart cables, including a long-distance Power over Ethernet cable and a hacker-proof optical fiber cable. PoE cables are capable of delivering both data connection and electric power, and are easy to install in places such as in ceilings and between gaps. But their standard distance has remained 100 meters. LS Cable & System’s SimpleWide cable, however, has extended the distance to 200 meters. The c
Dec. 3, 2020
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Daewoo Shipbuilding bags W282b order from ADNOC
Daewoo Shipbuilding & Marine Engineering Co. said Thursday that it has won a 282 billion-won ($257 million) order to build three oil tankers from Abu Dhabi National Oil Co. (ADNOC). The vessels will be delivered by the first quarter of 2023, Daewoo Shipbuilding said. The deal has an option to place an order for three additional oil tankers, the shipbuilder said. With the latest deal, Daewoo Shipbuilding has received orders worth $4.6 billion so far this year, achieving about 56 percent
Dec. 3, 2020
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1 in 4 companies cut head counts amid pandemic: survey
One in 4 companies in South Korea has implemented or is planning restructuring measures this year due to financial difficulties stemming from the prolonged COVID-19 pandemic, data showed Thursday. According to a survey of 437 companies carried out by local job search platform Saramin, 27.2 percent of the respondents said they had conducted layoffs or planned to do so. The most common reason given for restructuring was “the worsening business situation due to COVID-19” (69.7 perce
Dec. 3, 2020
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Korea Shipbuilding wins W100b order from Liberia
Korea Shipbuilding & Offshore Engineering Co. said Thursday it has clinched a 100 billion won ($91 million) order to build two liquefied petroleum gas (LPG) carriers from a Liberian company. The 40,000-cubic meter LPG carriers to be built by Hyundai Mipo Dockyard Co., a unit of Korea Shipbuilding, will be delivered from the second half of 2022, Korea Shipbuilding said in an emailed statement. The company also said it is in talks with the Liberian company for an additional order of the sa
Dec. 3, 2020
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ZEISS Korea honored with ‘Innovation in Business’ at 6th KGCCI Innovation Awards
The Korean German Chamber of Commerce and Industry held its 6th KGCCI Innovation Awards ceremony at JW Marriott Dongdaemun Square on Nov. 27. ZEISS Korea was honored as the winner of the “Innovation in Business” for pioneering work in lithography optics using extreme ultraviolet light. EUV technology enables a crucial technological leap forward by significantly reducing the size of semiconductor structures in a cost-effective manner allowing the successful continuation of Moore&rsqu
Dec. 3, 2020
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Samsung Electronics continues to surge on rosy chip outlook
Shares in Samsung Electronics Co. continued to surge on the Seoul bourse Thursday on the back of rosy outlook for its semiconductor business. Samsung shares advanced 0.29 percent to close at a new all-time high of 69,700 won ($63). During the session, Samsung shares surpassed the 70,000-won mark for the first time, reaching as high as 70,500 won at one point. Shares in Samsung have been skyrocketing recently with massive foreign buying on expectations of a big boom in the chip industry next y
Dec. 3, 2020
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[Monitor] South Korea's average life expectancy reaches 83.3
The average life expectancy for those born here in 2019 came to 83.3, up by over eight years from 20 years ago, data from Statistics Korea showed. As of last year, the life expectancy for those aged 40 would be 41.3 more years for men and 47.1 more years for women, according to the agency. (khnews@heraldcorp.com)
Dec. 3, 2020
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KITA chief sees exports rise 6 percent in 2021, driven by bio, chips
South Korea’s exports will recover next year to invigorate economic growth, which has been slowed in 2020 by the COVID-19 pandemic, a trade association chief said Wednesday. Speaking at a press conference, Korea International Trade Association Chairman Kim Young-ju said the organization foresaw export growth of more than 6 percent, and that the country’s trade volume will recover back above the $1 trillion mark next year. “OECD predicted Korea’s economy to grow 2.8 p
Dec. 2, 2020
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[Photo News] Ballantine promotes its single malt whiskies
South Korean actors Jung Woo-sung (left) and Lee Jung-jae pose for a picture at a pop-up shop designed to promote Ballantine’s Single Malt Whisky at cultural complex KOTE in Insa-dong, central Seoul, last Friday. The two actors, official models for the Scotch whisky brand, had a film shoot the same day. The pop-up shop will be open to the public for free until Sunday and offers six single-malt whiskies, according to the brand. Visitors must wear masks. The shop is also limit
Dec. 2, 2020
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Samsung tops smartphone production in Q3: report
Samsung Electronics Co. was the top global smartphone manufacturer in the third quarter of the year, a report showed Wednesday, as demand for its mobile devices increased in advanced markets amid the pandemic. Samsung led the industry in terms of smartphone production with 78 million units in the July-September period, up 42 percent from a quarter earlier, and accounted for 23.2 percent of the total share, according to market researcher TrendForce. "This result reflects Samsung's continu
Dec. 2, 2020
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Posco International offers consultations to startups
Posco International said Wednesday that it has partnered with the Korea Institute of Startup & Entrepreneurship Development to support small and midsized ventures and startup companies in entering overseas markets. Posco International and the institute held an online conference on the day to offer business consultations to 25 startup companies in fields including artificial intelligence, smart cities and the environment, the company said. From the business experience and global networks
Dec. 2, 2020