Most Popular
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Korea added to key bond index
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South Korean author Han Kang wins 2024 Nobel Prize in literature
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North Korea notifies UN Command of plans to fortify border with South
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Will Apple quit smart ring race with Samsung?
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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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More deaths in ICU following doctors' mass walkout: lawmaker
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Security issues to take center stage at ASEAN summit
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North Korea already cut off inter-Korean roads in Aug.: JCS chief
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NewJeans’ Hanni to attend National Assembly audit as witness
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[Photo News] Shinhan supports families
Shinhan Financial Group Chairman Jin Ok-dong on Friday cleans up the home of a family with multiple children, as part of the group’s volunteer program to support financially vulnerable groups. Shinhan plans to donate 150 million won ($109,000) to aid financially vulnerable families with multiple children. Following Friday's activity, Jin noted, "Shinhan Financial Group will continue paying attention to families with many children and will spare no effort in addressing the natio
April 28, 2024
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Samsung chief bolsters ties with Germany’s Zeiss
Samsung Electronics Chairman Lee Jae-yong met with top executives of German optics manufacturer Zeiss, a crucial partner for the Korean tech giant's push to lead the burgeoning market for artificial intelligence chips, during his recent trip to Europe. According to Samsung on Sunday, its chief toured the Zeiss headquarters in Oberkochen on Friday and discussed long-term partnerships with Zeiss Group CEO Karl Lamprecht and Zeiss Semiconductor Manufacturing Technology CEO Andreas Pecher. Lee&
April 28, 2024
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Woori Financial jumps in race to take over Lotte Insurance
The competition to acquire Lotte Insurance, South Korea's seventh-largest nonlife insurer, is intensifying, with Woori Financial Group recently joining the race. Woori Financial Group's Chief Financial Official Lee Sung-wook stated Friday that the company is reviewing the acquisition of the insurer "to fortify our competitiveness in the nonbanking sectors." The remarks came during the company's quarterly conference call. The move represents Woori's effort to reenter
April 28, 2024
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HD Hyundai CEO to co-chair WEF Special Meeting
HD Hyundai Vice Chairman and CEO Chung Ki-sun will serve as a co-chair of the Special Meeting of the World Economic Forum held in Riyadh, Saudi Arabia from Sunday to Monday. This session convenes 900 leaders from a broad array of sectors, including public and private enterprises, international organizations, NGOs, academia and civil society. The agenda is centered on addressing critical global challenges that are vital to sustainable growth: revitalizing global cooperation, fostering inclusive g
April 28, 2024
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Nongshim launches dance challenge for new ramyeon products
Leading ramyeon producer Nongshim has announced the launch of a dance challenge event to mark the release of its latest products: Pu Phat Phong Guri Big Bowl and Kimchi Jja Guri Big Bowl. The newly launched products are inspired by Thai curry and Korean kimchi and pork stew, respectively. The product name "Guri" comes from the Korean word for raccoon, "Neoguri." The new initiative, tailored to resonate with the younger demographic’s love for dance challenges, also aims
April 28, 2024
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More eateries went out of business in 2023 than pandemic years
Roughly 1 out of 5 businesses in the food service industry here went out of business in 2023 -- a higher rate than during the years of economic slump sparked by the COVID-19 pandemic -- according to figures disclosed by a local data analysis firm. According to Finda, 176,258 restaurants, takeout joints and food delivery locations across the country shut down for good last year, accounting for 21.5 percent of the 818,867 eateries in total. It implied that the food service industry had a worse yea
April 28, 2024
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[Photo News] OLED train windows
LG Display said Sunday that it has delivered transparent organic light-emitting displays for the windows of the latest Great Train Express trains, the new high-speed trains connecting the Greater Seoul area. It is the first time that transparent OLED screens have been used in train windows here to display route maps and other entertainment content for passengers. LG has been supplying transparent OLED train windows to China and Japan since 2020, with plans to extend their applications to other i
April 28, 2024
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Naver’s Line ownership in jeopardy as Japan ups pressure
Concerns are mounting that Korean portal giant Naver may lose its management rights for Line, the immensely popular messaging app in Japan it has nurtured over the past 13 years, amid a rare intervention by the Japanese government. Since last month, Japan's Ministry of Internal Affairs and Communications has directed Tokyo-based LY Corp., the operator of Line, to lower its dependency on Naver in the wake of a data breach incident last year. Currently, almost 70 percent of the Japanese popul
April 26, 2024
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Korea’s top finance firms put aside W1.7tr for Hong Kong-tied ELS compensation
Korea’s top finance firms -- KB, Shinhan, Hana, Woori and NongHhyup -- have set aside a total of nearly 1.7 trillion won ($1.2 billion) in reserve for the compensation of losses related to the misselling of equity-linked securities products tracking the Hang Seng China Enterprises Index in Hong Kong. While KB Financial Group, the top seller of the ELS products, set aside 862 billion won to cover the compensation, NongHyup and Shinhan each allocated 341.6 billion won and 274 billion won.
April 26, 2024
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Jeju Air opts out of Asiana Airlines' cargo division bid
During the bidding process among domestic low-cost carriers for the acquisition of Asiana Airlines' cargo division, Jeju Air, previously considered the front-runner, has chosen not to participate in the bidding. According to industry sources, the main bidding process, organized by financial services firm UBS for the sale of Asiana Airlines' cargo plane division on Thursday, saw the participation of three budget airlines: Eastar Jet, Air Premia and Air Incheon. Jeju Air did not submit a
April 26, 2024
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Posco Future M, Honda to launch battery materials venture in Canada
Korean battery materials producer Posco Future M has partnered with Japanese automaker Honda Motor to create a joint venture focused on producing cathode materials for electric vehicle batteries in the Canadian province of Ontario to bolster the supply chain for electric vehicles in North America. Under the agreement signed Thursday, the joint venture will supply cathode materials directly to Honda for use in the production of electric vehicle batteries across the continent. They plan to finaliz
April 26, 2024
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Samsung mobile chief, Google device head meet in Seoul
Samsung Electronics President and mobile business chief Roh Tae-moon and Google Senior Vice President Rick Osterloh, who oversees the company’s platforms and devices team, met in Seoul on Thursday and discussed ways to strengthen their partnership on artificial intelligence. After a meeting with Roh on Thursday, Osterloh posted later in the day on X, previously known as Twitter, with a picture taken with the Korean tech giant’s mobile chief. “Had a terrific conversation with TM
April 26, 2024
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LG Chem eyes new leap into top science company
LG Chem, South Korea's leading chemical company, unveiled Thursday a new vision to transform into a global top-tier science company, centering on its three business pillars -- electric mobility, sustainable materials and pharmaceuticals. Under the new vision, it has set an ambitious goal of reaching 60 trillion won ($43.6 billion) in sales by 2030. “LG Chem has achieved more than 10 times the sales growth over the past 20 years by diversifying its business portfolio, from battery bu
April 25, 2024
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Hyundai, Kia seek to boost presence in China market
Hyundai Motor Group on Wednesday unveiled a slew of new vehicles at the 2024 Beijing International Automotive Exhibition, ramping up efforts to boost its sluggish presence in the world's largest automotive market. At the Beijing Auto Show, one of the biggest motor shows that has returned in-person after four years, all three brands of the Korean auto giant -- Hyundai Motor, Kia and Genesis -- promised to introduce electric vehicles tailored for Chinese customers. Unveiling the Ioniq 5 N hig
April 25, 2024
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Eximbank to nurture regional development specialists
The state-run Export-Import Bank of Korea said Thursday that it planned to dispatch 34 young regional specialists to 13 developing countries under its Economic Development Cooperation Fund, aimed at cultivating a new generation of experts in global development cooperation. As a member of the OECD Development Assistance Committee, South Korea has long been committed to supporting infrastructure development in emerging economies and crafting innovative models for development cooperation. Initiated
April 25, 2024
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[Photo News] Cleaning the skies
Korean Air conducts its annual aircraft cleaning at its maintenance hangar at Incheon International Airport on Thursday. The Boeing 777-300ER, designated for long-distance routes and boasting the largest fuselage among twin-engine planes in Korea, underwent a meticulous cleaning process to ensure safe and efficient flights. The cleaning process, which encompassed the fuselage, main wing, tail wing and cockpit windshield, took some three hours, with 17 personnel deployed for the task, according t
April 25, 2024
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Senior officials from S. Korea, US discuss cooperation in chip industry
Senior trade officials from South Korea and the United States have discussed ways to broaden cooperation in the semiconductor sector, officials said Thursday. Deputy Minister for Trade Yang Byeong-nae met with his US counterpart, Ramin Toloui, in Seoul earlier in the day during which Yang asked Toloui to offer sufficient support for South Korean firms seeking to invest in the US Last week, the US government revealed a plan to grant Samsung Electronics Co. up to $6.4 billion to support its chipma
April 25, 2024
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Samsung Biologics Q1 earnings hit all-time high
Samsung Biologics, a leading contract development and manufacturing organization, announced Wednesday that the company’s earnings in the first quarter this year hit an all-time high. In the January-March period, Samsung Biologics’ sales increased by 31.3 percent on-year to 946.9 billion won ($690 million) from the previous year’s 720.9 billion won. Its operating profit also reached 221.3 billion won, up 15 percent on-year. “The operation of the fourth plant has largely co
April 24, 2024
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SK Leaveo to produce biodegradable wet wipes
SK Leaveo, a subsidiary of South Korean chemical giant SKC specializing in biodegradable materials, has formed a partnership with paper product manufacturer KleanNara to create a new line of biodegradable hygiene products, starting with eco-friendly wet wipes. Under a newly signed agreement on Wednesday, SK Leaveo and KleanNara will focus on producing hygiene products that are not only sustainable but also practical for everyday use. The collaboration aims to harness new materials such as poly
April 24, 2024
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Orion's Turtle Chips sales soar in US
The popularity of the Orion brand's Turtle Chips continued to grow in the US last year, boosting its annual sales to around 12 billion won ($8.8 million). Orion, a South Korean confectionery and snack manufacturer, is supplying the chips at the snack bars of major firms such as Google and Netflix, the company said Wednesday. According to Orion, the annual sales of Turtle Chips in the US reached 12 billion, around 200 times higher than the figure in 2017 when the company first launched the s
April 24, 2024