Most Popular
-
1
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
2
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
3
Can Jennie break the K-pop solo artist slump?
-
4
Yoon set for talks with Marcos in Philippines
-
5
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
6
Ex-president's daughter investigated for drunk driving accident
-
7
Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
-
8
'Culinary Class Wars' producers deny trying to spice up results
-
9
First lady’s Dior bag scandal to be at center of Assembly audit
-
10
Seoulites celebrate coexistence at Wellness Seoul 2024
-
SK Innovation’s EV battery material subsidiary opens new separator factory in China
SK IE Technology, a wholly owned electric vehicle battery material subsidiary under SK Innovation, began the operation of a separator factory recently completed in Changzhou, China, the company said Tuesday. Equipped with an annual production capacity of 340 million square meters, the new plant will ramp up SKIET’s total capacity to 870 million square meters. When additional plants are completed in Poland and China, the figure will spike to 1.87 billion square meters by 2023. Separat
Nov. 10, 2020
-
ECCK calls for prudent approach to low-polluting car policy
The European Chamber of Commerce in Korea's Passenger Vehicle Committee has called on the South Korean government to take a more prudent approach to the nation’s low-emission vehicle supply target at a press conference hosted on Tuesday. The low-pollution vehicle supply target system, which was initiated by the Ministry of Environment last year, is a system that obliges car sellers to sell a certain minimum percentage of low-emission vehicles. The government is also considering imp
Nov. 10, 2020
-
South Korea advised to keep an eye on Biden’s clean energy policy
South Korean businesses will need to keep an eye on US President-elect Joe Biden’s plans to invest in clean energy and on his softer approach to trade deals ultimately to take advantage of the incoming administration’s policies, the head of the Korea International Trade Association said Tuesday. “South Korean businesses should focus on how different the Biden administration will be from the Trump administration when it comes to economic and trade policy,” said KITA Chai
Nov. 10, 2020
-
[Monitor] COVID-19 causing more layoffs at SMEs
About half of the employees at small and medium-sized companies who are taking time off from work are doing so due to business deterioration amid the COVID-19 pandemic, statistics showed Monday. According to the Korea Small Business Institute and Statistics Korea, among the 712,000 employees at small and medium-sized enterprises who were on temporary leave as of September, 50.1 percent, or 357,000, had taken leave due to a business slump or company shutdown. Small and medium-sized companies
Nov. 10, 2020
-
Doosan unit to develop fuel cells for ships with Navig8
South Korean fuel cell maker Doosan Fuel Cell Co. said Tuesday it has signed a preliminary deal with Singaporean shipper Navig8 to develop fuel cells for ships. Under the deal, Doosan Fuel Cell will provide solid oxide fuel cells (SOFCs), energy conversion devices generating electricity, for a 50,000-ton ship of Navig8, while the Singaporean shipping company will offer technologies to mount SOFCs on the ship. SOFCs for the 50,000-ton ship will be used to propel the vessel and generate electri
Nov. 10, 2020
-
LG Electronics wins supplier award from Renault for vehicle displays
LG Electronics Inc. said Tuesday it has received a supplier award from French automaker Renault SA as the South Korean tech powerhouse eyes to expand its presence in the vehicle component business. LG was honored with an Innovation award at this year's Renault Supplier Awards for its vehicle display products. This is the third time that LG has been recognized by Renault with a supplier award following its recognition in 2014 and 2017. Renault praised LG's 9.3-inch center information displa
Nov. 10, 2020
-
Hyundai Motor mulls acquiring US robotics firm from Softbank: reports
Hyundai Motor Co., South Korea's biggest carmaker by sales, is in talks with Softbank Group Corp. to acquire a US-based robotics company for $1 billion, news reports said Tuesday, as it increases investments in future mobility solutions. Hyundai Motor is mulling acquiring a controlling stake in Boston Dynamics, and the terms of the deal have yet to be finalized, according to reports. The maker of the Sonata sedan and the Palisade SUV declined to confirm the reports. "As a global busines
Nov. 10, 2020
-
Hyundai Motor to use Nvidia's infotainment system in all vehicles from 2022
Hyundai Motor Group, the world's fifth-biggest carmaker by sales, said Tuesday it will use US chipmaker Nvidia's in-vehicle Drive system across all of its vehicles from 2022. The South Korean carmaker will apply the Nvidia Drive "connected car" platform to all of its upcoming models from Hyundai Motor Co., its independent Genesis brand, and Kia Motors Corp. starting from 2022, the company said in a statement. Under the partnership, the group's next-generation vehicles will feature
Nov. 10, 2020
-
Celltrion’s 2020 Q3 performance best ever
Celltrion set a quarterly earnings record in the third quarter of 2020, the company’s regulatory filing showed Monday. The No. 1 South Korean biosimilars maker posted a revenue of 548.8 billion won ($492.6 million) and an operating profit of 245.3 billion won, up 89.9 percent and 137.8 percent, respectively. The pharma credited its buoyant performance to increasingly reliable distribution of its biosimilar products, which are expanding their presence in global markets. Cell
Nov. 9, 2020
-
Biden administration likely to benefit Korea's eco-friendly cars, energy, bio
As Joe Biden -- who has made energy and climate policy a high priority -- has won the US presidential election, Korean businesses related to eco-friendly cars, green energy and bio are expected to gain momentum in the US market. Earlier, the new president-elect pledged a $2 trillion plan to invest in eco-friendly infrastructure. He also promised to rejoin the Paris Agreement on Climate Change, which Trump withdrew from, and to push for carbon emissions to reach “net zero” by 2050.
Nov. 9, 2020
-
Korean shippers, shipbuilders soar on rising freight rates, hopes for more orders
Shares in South Korean shippers and shipbuilders rallied on Monday on expectations that strong freight rates may work to improve their earnings and trigger more ship demand, analysts said. The Shanghai Containerized Freight Index, a barometer of global freight rates, came to a new high of 1,664.56 last Friday, according to industry sources. The previous record was 1,583.18 posted in July 2010. "Today's sharp advances in shippers and shipbuilders don't mean they will continue to turn for
Nov. 9, 2020
-
Korea Aerospace Q3 net plunges 66% on delayed parts delivery
Korea Aerospace Industries Co. (KAI), South Korea's sole aircraft manufacturer, said Monday its third-quarter net profit plunged 66 percent from a year earlier on delayed parts delivery to customers. Net profit for the three months ending in September fell to 12.4 billion won ($11 million) from 36.6 billion won a year earlier, the company said in a statement. "Delayed delivery of aircraft body and wing parts to customers, such as Airbus and Boeing, had an impact on the quarterly results
Nov. 9, 2020
-
Samsung tops US smartphone market in Q3: report
Samsung Electronics Co. sold the largest number of smartphones in the United States in the third quarter of the year, beating its rival Apple Inc. for the first time in three years, a report showed Monday. Samsung accounted for 33.7 percent in the US smartphone market in the July-September period, up 6.7 percentage points from a year earlier, according to market researcher Strategy Analytics. Apple was the runner-up with a 30.2 percent share, followed by South Korean smartphone maker LG Elect
Nov. 9, 2020
-
[Contribution] Five aces for marketing chiefs to overcome pandemic
The global pandemic has changed nearly everything for chief marketing officers, forcing them to scramble as consumers shift even more to online shopping. Meanwhile, CEOs are pressuring their marketing chiefs to find strategies for recovery. Deeper understanding of customers enables organizations to successfully pivot new business models by recalibrating sales approaches, finding new revenue streams, and introducing new products and services. Technology plays a role, of course, but it has to b
Nov. 9, 2020
-
Korea Shipbuilding wins W200b oil crude carrier order from Europe
Korea Shipbuilding & Offshore Engineering Co. said Monday that it has signed a 200 billion won ($179 million) deal with a European shipping firm to build two very large crude-oil carriers (VLCCs). The 300,000-ton vessels to be built by Hyundai Heavy Industries Co., a unit of Korea Shipbuilding, will be delivered from June 2022, the company said in an e-mailed statement. So far this year, Korea Shipbuilding has won orders to build 11 VLCCs, accounting for 55 percent of the global VLCC marke
Nov. 9, 2020
-
[Monitor] Global demand for eco-friendly vehicles on a steady rise
The global sales of eco-friendly vehicles increased by 14.4 percent to nearly 5.28 million units last year compared to a year prior, according to a recent report from Korea Automobile Manufacturers Association. Toyota ranked No.1 in sales by selling 1.98 million units, a 17.9 percent jump in the same period. Toyota was followed by Tesla, which sold 460,000 units, witnessing a whopping 80.3 percent spike on-year. Honda ranked third with 390,000 units, a 27.4 percent jump. Meanwhile, Hyundai M
Nov. 9, 2020
-
Hyundai Rotem wins $76b conveyer system order from Ford
Hyundai Rotem Co., a South Korean railway system and plant equipment maker, said Monday it has received a $76 billion order to supply conveyer systems to Ford Motor Co.'s plants by 2022. Hyundai Rotem will provide the conveyer systems to the US carmaker's plants in Argentina, South Africa and Thailand in the next two years, the company said in a statement. Hyundai Rotem has received orders for an accumulated 280 billion won ($250 million) worth of production facilities for Ford's assembly li
Nov. 9, 2020
-
Biden win bodes well for Korean exports
US President-elect Joe Biden’s multilateral approach to trade could work in export-reliant South Korea’s favor. But the next administration’s eco-friendly policies and a new approach to dealing with China could weigh on Asia’s fourth-largest economy, according to local sources Sunday. The Bank of Korea said global trade sentiment is expected to recover when President-elect Biden moves to woo US allies battered by Donald Trump’s trade sanctions and work with them
Nov. 8, 2020
-
[Photo News] Luminous, luxurious Christmas tree
Italian luxury fashion brand Fendi’s chandelier-concept Christmas tree is lit up in front of the Galleria Department Store’s eastern Luxury Hall in Apgujeong-dong, southern Seoul. (Yonhap) (khnews@heraldcorp.com)
Nov. 8, 2020
-
GS E&C opens Seoul-Munsan highway worth W2.1tr
GS Engineering & Construction has opened a new highway that connects Goyang, Gyeonggi Province, a satellite city just northwest of Seoul, and Munsan, a town within the border city of Paju, Gyeonggi Province, the company said Sunday. A total of 2.1 trillion won ($1.87 billion) was poured into the Seoul-Munsan Expressway, after it broke ground in November 2015. The highway is 35.2 kilometers long, ranging from two to six lanes. The Seoul-Munsan highway is expected to reduce traffic in th
Nov. 8, 2020