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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[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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First lady’s Dior bag scandal to be at center of Assembly audit
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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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Seoulites celebrate coexistence at Wellness Seoul 2024
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SsangYong's Oct. sales rise 0.6% on increased exports
SsangYong Motor Co. said Monday its sales rose 0.6 percent last month from a year earlier helped by increased exports. SsangYong Motor sold 10,197 vehicles in October, up from 10,135 units a year ago due to strong overseas demand for its SUV models despite the COVID-19 pandemic, the company said in a statement. Domestic sales fell 5.4 percent to 7,612 units from 8,045 during the same period, but exports jumped 24 percent to 2,585 from 2,090, it said. The SUV-focused carmaker said it will ex
Nov. 2, 2020
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Hyosung T&C invests W60b in Turkey to expand spandex production
Hyosung T&C said Monday it planned to invest 60 billion won ($52.9 million) in the Cerkezkoy area near Istanbul, Turkey to more than double the size of its spandex production plant with an annual capacity of 15,000 metric tons by July next year. The fiber production unit of Hyosung Group said the spandex plant production capacity in Turkey would be about 40,000 tons when the expansion is completed. The firm’s decision came from Hyosung Chairman Cho Hyun-joon’s judgment that a
Nov. 2, 2020
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LG Electronics reaffirms plan to build 2nd R&D center in Vietnam
LG Electronics Inc., a major home appliance maker in South Korea, on Monday reaffirmed a plan to build its second research and development (R&D) center in Vietnam as it tries to expand its presence in the Southeast Asian market. LG recently signed an agreement with Vietnamese real estate developer Trung Nam Land Joint Stock Co. to set up the center at the Da Nang Information Technology Park Tower in Danang, central Vietnam, according to the sources. The deal follows the company's memorand
Nov. 2, 2020
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Renault Samsung halts plant operations amid pandemic
Renault Samsung Motors Corp. said Monday it will suspend the operation of its sole plant in South Korea for two days to control its inventory amid the COVID-19 pandemic. Renault Samsung will halt the operation of the Busan plant, about 450 kilometers southeast of Seoul, on Monday and Tuesday to manage inventory and production amid weak sales, the company said in a statement. The company said it plans to have its employees work during daytime from Nov. 10-30. The South Korean unit of R
Nov. 2, 2020
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Samsung to unveil new mobile AP next week in China
Samsung Electronics Co. said Monday it will unveil its new mobile application processor (AP) next week as the South Korean tech titan eyes to sell more non-memory chips to smartphone manufacturers. The Exynos 1080 chipset will be introduced at an event in Shanghai, China, on Nov. 12, according to the company. Samsung has yet to unveil the specifications of the new mobile AP, but sources said it is built on a 5-nanometer process and uses ARM Ltd.'s latest Cortex-A78 central processing unit (C
Nov. 2, 2020
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[Monitor] Korea aims to see over 1M EVs by 2025
The Korean government on Friday announced the national strategy for future automobile proliferation and market domination, at Hyundai Motor’s factory in Ulsan. With Deputy Prime Minister Hong Nam-ki and officials from the Ministries of Trade, Environment, Transport in attendance, President Moon Jae-in pledged innovation in convenience, price and demand for future automobiles, aiming for 1.13 million electric vehicles and 200,000 hydrogen vehicles on the road by 2025. (khnews@heraldcorp
Nov. 2, 2020
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Celltrion inks supply agreement for COVID-19 test kit in US
South Korean biopharmaceutical giant Celltrion Inc. said Monday it has signed an agreement worth 210 billion won ($185 million) to supply a diagnostic kit for the novel coronavirus in the United States. Under the agreement, Celltrion's rapid antigen kit, Sampinute, will be distributed by Prime Healthcare Distributors in the US The kit was co-developed by local health care firm BBB. Sampinute won an emergency approval by the US Food and Drug Administration for commercialization late last month
Nov. 2, 2020
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Apple's ECG monitoring app available in S. Korea
Apple Inc. said Monday its electrocardiogram (ECG) monitoring app on Apple Watch is now available in South Korea as the US tech giant tries to expand its presence in the wearables market here with upgraded health-related features. Apple said local consumers who have Apple Watch Series 4 or later can use its ECG app through software updates after it recently secured an approval from South Korea's Ministry of Food and Drug Safety. Apple's ECG app records a person's heartbeat and rhythm using se
Nov. 2, 2020
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24 added to antitrust watch list in Aug.-Oct. period
The number of companies affiliated with major conglomerates under tight restrictions increased in the August-October period, data showed Monday, as they increased investment in financial or content firms. The total number of affiliates under such restrictions reached 2,325 as of the end of October, up 24 firms from three months earlier, according to the Fair Trade Commission (FTC). Major business groups newly launched or acquired 56 new affiliates, while offloading 32 others. Under South Ko
Nov. 2, 2020
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Number of int'l travel firms hits 4-year low on pandemic
The number of agencies for overseas trips in South Korea sank to a near four-year low this year due to travel restrictions caused by the coronavirus pandemic, data showed Monday. South Korea had 8,963 international travel agencies as of the end of September, down 5.3 percent, or 503, from the end of December, according to the data from the Korea Tourism Association. It represents the lowest tally since the 8,948 recorded in December 2016. After peaking at 9,732, the number had been on a stead
Nov. 2, 2020
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Apple recalls AirPods Pro for faulty sound issues
Apple Inc. has announced a global recall of AirPods Pro wireless earbuds for faulty sound issues, such as crackling or static sounds. Apple said it has determined that a small percentage of AirPods Pro may experience sound issues, adding that affected units were manufactured before October 2020. The US tech giant said problems of an affected AirPods Pro included crackling or static sounds that increase in loud environments, with exercise or while talking on the phone. It also said active nois
Nov. 2, 2020
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SKT has best 5G availability, LG U+ fastest 5G download speed: UK research institute
Among Korean communications firms, SK Telecom has the best 5G availability in the capital areas of Seoul and Incheon, while LG U+ has the fastest 5G download speed, according to UK market research institute Open Signal on Sunday. “Korea’s 5G experience continues to improve with more users opting for a 5G handset,” said Open Signal, “The 5G network connection was faster in Seoul, Incheon and Busan than elsewhere in the country.” According to Open Signal in researc
Nov. 1, 2020
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Samsung silently marks anniversary
Samsung Electronics on Sunday marked the 51st anniversary of its foundation in silence, in the first memorial day under scion Lee Jae-yong just one week after Chairman Lee Kun-hee’s death. There was no official remark from Samsung regarding the anniversary, but the conglomerate was set to hold a ceremony Monday. Whether Vice Chairman Lee Jae-yong would release a message was not confirmed. Industry watchers are paying attention to what a new Samsung with heir Lee officially at the he
Nov. 1, 2020
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Hyundai Heavy fined for subcontractor's technology misuse
South Korean shipbuilder Hyundai Heavy Industries Co. has been fined 246 million won ($216,800) for misusing a subcontractor's technologies, the country's antitrust watchdog said Sunday. Hyundai Heavy shared the design of a subcontractor's lighting equipment with another subcontractor without permission to help it make the same equipment from April 2017 to April 2018, the Fair Trade Commission (FTC) said. The shipbuilder was found to have delivered the design of five ship engine parts provid
Nov. 1, 2020
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Hyundai Motor sells over 380,000 units of Genesis overseas
Hyundai Motor Co. sold over 380,000 units of its premium brand Genesis in overseas markets over the past five years since the brand launched in November 2015, industry sources said Sunday. Sales of Genesis came to a combined 384,471 units in September this year, showing its steady sales in the global passenger car market, they said. The current Genesis lineup is composed of the G70, G80 and G90 sedans and the GV80 SUV. In the first nine months, sales of the all models of Genesis were talli
Nov. 1, 2020
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GM Korea’s workers to go on partial strike
Unionized workers at GM Korea decided to go on a partial strike after they failed to reach an agreement with the company in wage negotiations, according to the union Friday. The union will proceed with a four-hour walkout on Friday and next Monday, it said. GM Korea and its unionized workers held 21 rounds of negotiations beginning in July. The last one ended after 10 minutes, according to the related parties. The partial strike is expected to weigh on GM Korea as it will deepen productio
Oct. 30, 2020
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LG Electronics Q3 net nearly doubles on strong TV, home appliance sales
LG Electronics Inc. said Friday its net profit nearly doubled in the third quarter from a year earlier on the back of strong global demand for its TVs and home appliances amid the coronavirus pandemic. The South Korean tech giant said its net income reached 649.2 billion won ($573.6 million) in the July-September period, up 87.8 percent from 345.7 billion won the previous year. Its third-quarter operating income stood at 959 billion won, up 22.7 percent on-year, while sales reached 16.9 trilli
Oct. 30, 2020
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LG Chem stays No. 1 in EV battery market this year
LG Chem Ltd. was the world's biggest supplier of electric vehicle (EV) batteries in the first nine months of this year thanks to robust demand from global automakers, a market research firm said Friday. South Korea's largest chemical company accounted for a 24.6 percent share of the global EV market in the January-September period, with 19.9 gigawatt-hours (GWh) of battery production capacity, according to SNE Research. China's CATL came next with a 23.7 percent share, and Japan's Pana
Oct. 30, 2020
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Korea Shipbuilding swings to loss in Q3 on stronger won
Korea Shipbuilding & Offshore Engineering Co. said Friday that it swung to a net loss in the third quarter from a year ago due to the stronger local currency. Net losses came to 77 billion won ($68.3 million) in the July-September period, compared with a profit of 20.4 billion won a year earlier, Korea Shipbuilding said in an emailed statement. Sales fell 5 percent to 3.46 trillion won in the three-month period and operating profit rose 34 percent to 40.7 billion won. "The appreci
Oct. 30, 2020
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LG International’s operating profit up 19.5% in Q3
LG International said its operating profit in the third quarter of this year was estimated at 34.9 billion won ($30 million), up 19.5 percent from the same period last year. Sales rose 14.3 percent year-on-year to 3.1 trillion won. Net profit rose 358.9 percent to 41.3 billion won. LG International explained that the rebound was the result of an increase in trading volume -- for example, for palm oil and information technology parts -- and a strong performance in the logistics sector. &ld
Oct. 30, 2020