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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Yoon set for talks with Marcos in Philippines
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Can Jennie break the K-pop solo artist slump?
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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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Yoon honors veterans of Korean War in trip to Philippines
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Seoulites celebrate coexistence at Wellness Seoul 2024
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[KH Explains] Can G-Star level up?
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Ex-president's daughter investigated for drunk driving accident
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Amorepacific opens pop-up store to support single mom biz owners hit by COVID-19
Amorepacific said Thursday it has opened a pop-up store selling products made by single mom business owners at its headquarters to boost their sluggish sales amid the coronavirus outbreak. According to the South Korean cosmetics giant, some 250 staff and executives purchased a total 550 products at the store, which was stocked with items from Hope Stores run by single mom owners and delivered profits worth 27.5 million won ($20,180). Amorepacific paid half the price for every purchase made
May 28, 2020
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Hanwha Q Cells to sponsor Korea’s solar power competition
Hanwha Q Cells said Thursday it will sponsor a local green energy competition to raise awareness on solar energy and deal with fine dust and climate change. According to South Korea’s No. 1 solar module maker, it will sponsor the 2nd K-Solar League, the Korean version of Germany’s Solar Bundesliga, a renewable energy drive since 2003 that ranks all regions in Germany by the amount of electricity generated by solar power and solar heat. This year, 17 regional local governments, 2
May 28, 2020
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Posco uses slag to form sea forests off coast of Ulleungdo
Posco said Thursday it has started cultivating sea forests ahead of the Oceans Day, which falls on May 31. The steelmaker said it has installed 100 Tritons -- the firm’s artificial reef brand made of steel slag -- and 750 Triton blocks approved by the Ministry of Maritime Affairs, in waters off Namyang-ri, southern Ulleungdo, to create a 0.4-hectare sea forest. The 100 Tritons will be installed on the edge of the sea forest, where seaweed will grow, and 750 Triton blocks will be piled u
May 28, 2020
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Pandemic to bring big change in electronics, mobility: KITA
Companies should grab opportunities in electronics and mobility industries in the post-pandemic era as they will undergo vast changes, experts said during a two-day on-line seminar hosted by the Korea International Trade Association from Wednesday to Thursday. Among those attending the seminar broadcast live on YouTube were Hi Investment & Securities head of the center Ko Tae-bong, Kookmin University professor Jeong Gu-min and Future Designers CEO Choi Hyung-wook. They spoke on prospects
May 28, 2020
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[Monitor] Air transport hit hardest by pandemic
The production performance of many Korean companies was found to have deteriorated in the first quarter this year due to the global economic downturn and the impact of the pandemic, latest data showed Wednesday. Local corporate tracker CEOScore surveyed 127 companies, which submitted quarterly reports and disclosed their production capacity and performance, among the nation’s top 500 companies. According to the survey, the air transport sector was hit hardest as demand for travel a
May 28, 2020
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S. Korea to promote open trade to overcome pandemic
South Korea's trade minister said Wednesday the country will continue to promote open trade amid growing protectionism in the aftermath of the new coronavirus pandemic, calling for major trade partners to join efforts to normalize the virus-hit global supply chains. "In the post-pandemic era, the global environment for trade and commerce will change drastically," Trade Minister Yoo Myung-hee said during a videoconference with experts around the globe, hosted by the Korea Internationa
May 27, 2020
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[Photo News] Regular check-up right beside chairman
Hyundai Heavy Industries Chairman Kwon Oh-gap (first from right) visits Hyundai Oilbank’s Daesan plant in South Chungcheong Province to inspect its regular maintenance on Wednesday. (khnews@heraldcorp.com)
May 27, 2020
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[Feature] Chinese solar firms suck air from Korean industry
Although South Korea’s No. 1 solar module maker Hanwha Q Cells’ power business posted a record operating profit of 100 billion won ($81.4 million) in the first quarter, it faces challenges not only from the demand crunch due to the COVID-19 outbreak but also its weak price competitiveness against Chinese rivals. On May 15, Korea Electric Power Corp. announced it would build solar power generation facilities in Guam with a capacity of 60 megawatts with solar power modules manufact
May 27, 2020
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[Exclusive] Nexon mulls launching FPS game Sudden Attack on Steam
Korea’s No. 1 game company Nexon said Wednesday it was positively reviewing whether to provide its first-person shooter game Sudden Attack on Steam in response to an online petition calling for the game to be made available globally. Steam is a global digital platform where users can install PC games online directly to their cloud drives after purchase. On May 23, a US-based fan called Fox R. launched an online petition on Change.org, requesting “Sudden Attack be made available
May 27, 2020
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GS Caltex unveils all-in-one pump station in Seoul
South Korean oil refiner GS Caltex said Wednesday it would begin the operation of its first all-in-one pump station that can accommodate all types of vehicles running on gasoline, diesel, liquefied petroleum gas, electricity and hydrogen, starting Thursday. According to GS Caltex, it has recently added a hydrogen charging station, jointly constructed with Hyundai Motor in Seoul, completing its 3,305-square-meter hybrid charging station in Gangdong-gu, eastern Seoul. The hydrogen station is th
May 27, 2020
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LS Group to respond to digital transformation by accelerating R&D
LS Group said Wednesday it is strengthening its digital capabilities by increasing research and development in automation, big data and artificial intelligence technologies in response to digital transformation amid the pandemic. “It will be difficult for the time being as uncertainties in achieving this year’s management goals have increased due to the pandemic, but I hope you will take an extraordinary step forward,” LS Group Chairman Koo Ja-yeol said in a recent message to
May 27, 2020
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S. Korean biotech firms in race for coronavirus treatment, vaccine
South Korean pharmaceutical companies have joined the global race to develop a vaccine for the novel coronavirus, but none of them have received approval for clinical trials for a vaccine or treatment candidates from the country's drug safety agency. Celltrion Inc., a major pharmaceutical giant, has announced that it plans to develop a "super antibody" candidate that can help prepare for potential future pandemics. Celltrion was earlier selected as a preferred developer for a monoc
May 27, 2020
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S. Korean duty-free operators grapple with pandemic-caused biz slump
South Korean duty-free shops are struggling to cope with an industry-wide slump as flight suspensions and a subsequent fall in the number of customers have severely dented their sales amid the new coronavirus pandemic. With no imminent signs of business turnaround, duty-free operators have called for support measures from the government, including an additional cut in airport rental fee. Duty-free stores saw their combined sales fall below 1-trillion won ($812 million) mark for the first time
May 27, 2020
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Doosan likely to finalize self-rescue package next month
South Korea's cash-strapped Doosan Group is likely to finalize its self-rescue plan next month, as creditors have yet to vet the books of the group's affiliates, industry sources said Wednesday. The country's 15th-largest conglomerate last month submitted to creditors, including the Korea Development Bank (KDB) and the Export-Import Bank of Korea (Eximbank), a plan to sell shares and non-core assets in a bid to secure more than 3 trillion won ($2.4 billion) in liquidity. Its creditors funnel
May 27, 2020
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Size of S. Korean insects industry up 8% in 2019
The size of South Korea's insects industry rose 8 percent in 2019 from a year earlier, data showed Wednesday, as a growing number of companies raise or process insects for foodstuffs, pets and other purposes. The combined sales of local insect-related companies reached 40.5 billion won ($32.9 million) in 2019, up from 37.5 billion won a year earlier, according to the data compiled by the Ministry of Agriculture, Food and Rural Affairs. The number of such businesses reached 2,535 in 2019, up 9
May 27, 2020
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[Monitor] New house supply to rise 22% in H2
Supply of new apartments across the country will increase by about 22 percent to 148,239 in the second half of this year compared to the first, according to real estate app company Jikbang. The figure amounts to 55 percent of the total supply of new houses this year, and is 7 percent more than that of last year, the company said. By region, 80,712 houses will be available in 85 apartment complexes in the metropolitan areas of Gyeonggi Province and Incheon, up 30 percent from the first half
May 27, 2020
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[Graphic News] Tesla 3rd highest-selling imported auto brand in Korea
US electric carmaker Tesla Motors ranked third in first-quarter sales in South Korea’s imported passenger vehicle market on strong demand for the Model 3, an industry association said. In the January-March period, Tesla sold a total of 4,070 vehicles in the Korean imported car market, following Mercedes-Benz (15,400) and BMW (11,331), according to data from the Ministry of Trade, Industry and Energy. Tesla’s sales jumped to 2,499 units in March from 1,433 in February and 138
May 27, 2020
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Samsung to sponsor esports company with gaming monitors
Samsung Electronics Co. said Wednesday it has signed a partnership with a global esports organization to boost its presence in the gaming monitor market. Samsung said it will sponsor its latest display products at T1 Entertainment & Sports (T1), a joint venture between South Korea's leading mobile carrier SK Telecom Co. and US entertainment firm Comcast Spectacor LLC. Under the partnership, T1 players will practice using Samsung's curved gaming monitors, the Odyssey G9 and G7, at their
May 27, 2020
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Hyundai Engineering posts growth globally since merger
Since merging with Hyundai Asset Management Co. in 2014, Hyundai Engineering has grown into a global construction firm logging a stable surplus. According to the company, its accumulated overseas contracts amounted to $31.3 billion in the six years as of 2019, which is 1.5 times more than the figure over 16 years before the merger. Hyundai Engineering, originally a firm specialized in EPC (engineering, procurement and construction) overseas plant construction, merged with Hyundai Amco, which
May 26, 2020
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COVID-19 delays Korea’s defense exports
South Korea’s 18-trillion-won ($14 billion) fighter jet project is facing payment delays amidst the COVID-19 pandemic, while officials involved have assured it does not mean it is being shut down. Korea Aerospace Industries -- the country’s only aircraft manufacturer -- is currently co-developing next-generation fighters with Indonesia. Launched in 2016, the KF-X project aims to develop a next-generation fighter jet and mass-produce 180 units by 2026. The project, the biggest in
May 26, 2020