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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First lady’s Dior bag scandal to be at center of Assembly audit
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Ex-president's daughter investigated for drunk driving accident
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Yoon honors veterans of Korean War in trip to Philippines
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'Culinary Class Wars' producers deny trying to spice up results
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Busan to proceed with AI expo in September
The Busan government said Friday it would proceed with AI Korea 2020, despite the resurgence in new coronavirus cases in Seoul and Gyeonggi Province. The Busan government said it would strengthen COVID-19 prevention measures for the event, scheduled between Sept. 17-19 at Bexco in Busan. The expo, which will be held at 13,000 square-meter exhibition areas, has been designed to attract leading scientists, developers and entrepreneurs in related sectors. The Busan government said it would show
Aug. 21, 2020
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NCSoft launches entertainment subsidiary Klap
NCSoft said Friday it has launched an entertainment subsidiary Klap to expand its business portfolio. According to the South Korean game company, it established Klap on July 13 and invested 800 million won ($675,000) to control 66.7 percent of the subsidiary. Klap has 14 business objectives including video, webcomics, an online music service and internet broadcasting. Kim Taek-hun, senior vice president and chief publishing officer at NCSoft, has been appointed as the CEO of Klap. Also, N
Aug. 21, 2020
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US Congressman seeks investigation against SK Innovation for suspected illegal employment
SK Innovation’s battery business is facing uncertainties in the US as Congressman Doug Collins is accusing the firm of hiring Korean workers illegally to displace American workers at its two factories under construction in Jackson County, Georgia. On Wednesday, the congressman sent a letter to the directors of Immigration (ICE) and Customs Enforcement and Customs and Border Patrol (CBP) to investigate an alleged illegal employment scheme surrounding two battery plants worth $2.6 billion
Aug. 21, 2020
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KDB proposes meeting with HDC chairman over shaky Asiana-HDC deal
Korea Development Bank said Thursday it has proposed a meeting between its Chairman Lee Dong-gull and HDC Chairman Chung Mong-gyu over the delayed Asiana Airlines’ acquisition deal. The policy bank, main creditor bank of the airline, said it has suggested top-level talks to “alleviate uncertainties” regarding the purchase plan by the construction firm. The proposal came on the same day the CEOs of Kumho Industrial and HDC Hyundai Development Co. met at an und
Aug. 20, 2020
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SeAH Steel to supply key parts for wind power project in UK
SeAH Steel Holdings said Thursday it will participate in Britain’s state-led offshore wind power project to supply key parts. The South Korean steel firm said it has signed a memorandum of understanding with the UK’s Department for Business, Energy and Industrial Strategy to construct the world’s biggest monopile production facility. A monopile is a simple structure consisting of a steel pipe driven into the seabed, providing a fixed foundation for an offshore wind turbine
Aug. 20, 2020
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Will Tesla’s batteries hurt Korean battery makers?
Electric vehicle pioneer Tesla wants to make its own batteries, as they account for more than 40 percent of auto parts. Its ambition became official after Joerg Steinbach, economy minister for the state of Brandenburg in Germany, confirmed that Tesla will manufacture powerful batteries with “completely new technology” at Gigafactory Berlin. So here’s the question: When Tesla starts producing its own batteries and even sells them to other automakers, will it hurt Korean ba
Aug. 20, 2020
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Amazon Games to publish Smilegate games exclusively in Europe, North America
Smilegate said Thursday its games will be published in the European and North American markets exclusively by Amazon Games. According to the Korean game company, its subsidiary Smilegate RPG signed an exclusive publishing contract with Amazon Games and will publish one of its most popular titles in both markets by next year. “Amazon Games is the most suitable partner to help Smilegate enter European and North American markets, as Amazon is equipped with its own streaming platform Twit
Aug. 20, 2020
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Companies on alert as COVID-19 cases surge
As the coronavirus has resurged rapidly in the Greater Seoul area in recent days, industries are on alert again, fearing their business could face another bout of shutdowns. Many major companies resumed their remote work policies, or have flexible working hours to protect their workplace. Most large firms, including Samsung, LG, SK, KT, Posco and Hyundai Motor have a painful history of closing down their plants and office buildings due to coronavirus patients when the pandemic peaked in spr
Aug. 20, 2020
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[Monitor] Companies invest more despite falling profits
South Korea’s conglomerates increased their investment in the first half of this year despite a drop in operating profit due to the pandemic, data showed Wednesday. Local corporate tracker CEOScore analyzed 374 companies within 64 large business groups in the first half of this year. The result showed that the firms’ operating profit dropped 25 percent on average year-on-year in the wake of the pandemic. Still, their investments increased 15.8 percent to reach 43.2 trillion won
Aug. 20, 2020
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KAI to supply 2 more Chamsuri choppers to police
Korea Aerospace Industries said Wednesday it will supply an additional two units of Chamsuri choppers to police. According to South Korea’s sole aircraft manufacturer, it signed a contract worth 47.1 billion won ($39.8 million) with the Public Procurement Service to supply two Chamsuri helicopters -- a police version of the military helicopter Surion -- to police by February 2023. “The police will be able to expand their mission capabilities such as transporting emergency patien
Aug. 19, 2020
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[Green Paradox] Naive ambition of Moon’s wind power project
Even the best of intentions can fall flat without full attention to vital details. The Korea Herald looks into flaws and shortcomings of Korea’s green policies. – Ed. To revive a comatose economy amid the coronavirus outbreak, Moon last month came up with his own answer: a Korean Green New Deal. As part of his Green New Deal initiative, Moon looks to the offshore wind farm sector to create 87,000 jobs a year by generating a total capacity of 12 gigawatts -- enough to power
Aug. 19, 2020
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LG Chairman selected as sustainable global leader by UN
LG Group Chairman Koo Kwang-mo has been selected as one of the 100 sustainable global leaders in 2020 by the United Nations, the organization said Wednesday. Koo was named in the list of the Global Sustainable Leaders 100 as selected by the Association for Supporting the SDGs for the UN under the United Nations Economic and Social Council. Other selected global leaders include Microsoft founder Bill Gates, Apple CEO Tim Cook, Tesla CEO Elon Musk and Google CEO Sundar Pichai. Korean corpor
Aug. 19, 2020
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Posco International sells steel on online platform
Posco International is set to boost online trading of steel in partnership with local steel e-commerce operators, the firm said Wednesday. The trading firm said it signed a business agreement with four steel e-commerce operators, Sinsteel, Chungnam Steel, Daeduck Steel and Steelman Networks. Through the agreement, they plan to connect each company’s sites in the form of banners on the online transaction site Steel Trade -- which was opened by Posco International in November last year
Aug. 19, 2020
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Committee launched for Korea-World Chinese Entrepreneurs Business Week
An organizing committee for the Korea-World Chinese Entrepreneurs Business Week 2020 was launched by Changwon City, the regional government said on Wednesday. The Korea-World Chinese Entrepreneurs Business Week 2020 is a business-oriented event that provides a venue for global Chinese enterprises and Korean companies to interact with each other. It will be held for three days from Nov. 12 to 14 at the Changwon Exhibition and Convention Center. The event will be hosted by South Gyeongsa
Aug. 19, 2020
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KAIST uses big data, AI to foresee foreign influx of pandemic
Researchers from Korea Advanced Institute of Science and Technology have developed a big data and artificial intelligence-powered software called Hi-COVIDNet to monitor incoming COVID-19 cases from overseas. KAIST said Wednesday that the Hi-COVIDNet predicts the volume of COVID-19 patients’ influx two weeks in advance, based on big data information of foreign nations’ confirmed patient numbers and deaths, the daily number of flights from those nations to Korea and the number of pass
Aug. 19, 2020
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Celltrion, Genexine stocks strong upon preclinical success of COVID-19 vaccine
Celltrion and Genexine stocks were upbeat Wednesday, on the back of Korea Research Institute of Bioscience and Biotechnology’s announcement the day before that Korean scientists have succeeded in deriving meaningful results from COVID-19 treatment and vaccine candidates’ animal tests. Celltrion shares started 1.48 percent higher than the previous day at 308,500 won ($260) while Genexine’s started 4.99 percent higher at 126,200 won. KRIBB said Tuesday that in primates modele
Aug. 19, 2020
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[Monitor] Seongdong-gu most popular among home buyers in 30s
Over half of the apartment purchases in Seoul’s Seongdong-gu and Jung-gu in June this year were made by people in their 30s or younger, an analysis by real estate service provider Zigbang showed. Zigbang, which used data from the Korea Appraisal Board, also said those in their 30s were the most active in apartment transactions that took place during the month. Those in their 30s made up 36.1 percent of all apartment purchasers, followed by those in their 40s (27.8 percent) and those i
Aug. 19, 2020
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S-Oil to use gas stations as electric bike-sharing hub
S-Oil said Tuesday it will utilize idle spaces at gas stations to establish an electric bike-sharing hub to provide parking, charging and maintenance services. According to the South Korean refiner, it will collaborate with electric bike-sharing app Elecle and open an “Elecle Zone” at gas stations where users can return electric bikes after use. S-Oil will expand the partnership with Elecle by adding charging and maintenance services. It is also planning similar services to ele
Aug. 18, 2020
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GCLC raises possibility of NK cell therapy for COVID-19
GC LabCell, a cell therapy specialist, said Tuesday that it has confirmed Natural Killer cells’ therapeutic effects against the SARS CoV-2 virus. NK cell therapy is an innovative treatment. There are no commercialization-approved NK cell therapies worldwide as of yet, meaning it is uncertain how long the research for NK cell therapy for COVID-19 could take. GCLC’s research is in the laboratory stage and will need to go through preclinical animal trials and three stages of human tr
Aug. 18, 2020
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KT&G launches HNB e-cigarette in Russia with PMI
South Korean tobacco maker KT&G said Tuesday it has launched lil Solid, its heat-not-burn e-cigarette, and three Fiit tobacco sticks, in Russia together with Philip Morris International. It is the first time for the Korean company to enter an overseas market with its e-cigarette product. KT&G and PMI established a strategic alliance in January, in which KT&G distributes its HNB e-cigarettes to overseas markets using PMI’s distribution networks for the first three years. The
Aug. 18, 2020