Most Popular
-
1
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
2
Military aircraft evacuating S. Koreans in Lebanon returns home
-
3
Yoon set for talks with Marcos in Philippines
-
4
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
5
Can Jennie break the K-pop solo artist slump?
-
6
Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
-
7
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
8
2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
-
9
First lady’s Dior bag scandal to be at center of Assembly audit
-
10
Firefighters’ 3,000 won meals spark nutrition concerns
-
Hyundai Heavy Industries uses AI to create ‘smart’ vessels
Hyundai Heavy Industries, South Korea’s leading shipbuilder, said Monday that it had developed an optimal vessel operation system by equipping its generator-engine model with advanced information and communication technologies. According to HHI, it utilized artificial intelligence and its own Hyundai Intelligent Equipment Management Solution to enhance its independent Hi-Touch Marine and Stationery Engine and cut fuel expenses by over 10 percent. HiEMS and AI collect and analyze the
Jan. 13, 2020
-
[Monitor] Asset values of Samsung Electronics’ shareholders soar
Samsung Electronics’ share price has skyrocketed on the back of a rosy outlook for this year’s semiconductor business and revitalized smartphone market, giving a boost to the asset value of major shareholders, according to data from the Korea Exchange.Since December last year, the value of shares held by Chairman Lee Kun-hee and the National Pension Service rose by 2 trillion won and 6 trillion, respectively, in a month. (khnews@heraldcorp.com)
Jan. 13, 2020
-
Samsung’s top executives ink compliance pledge
Top executives of Samsung Electronics have vowed to abide by the law ahead of the launch of an in-house anti-corruption committee, officials said Monday. The firm’s three chief executives -- Kim Ki-nam, Kim Hyun-seok and Koh Dong-jin -- signed a compliance pledge at an event held in Samsung Digital City, Suwon. Other top executives also joined the pledge with their digital signature.They pledged to comply with local and foreign laws and company regulations, not to tolerate any violation of
Jan. 13, 2020
-
KT&G Welfare sends 60 college volunteers to Cambodia, Myanmar
KT&G Welfare Foundation has sent a total of 60 college student volunteers to Cambodia and Myanmar to improve the educational environment in the countries, the tobacco company said Monday. KT&G said the volunteering activities will be done for nearly two weeks at Siem Reap, a town in northwestern Cambodia, and the suburbs of Yangon in Myanmar, which have poor educational environments. Since 2005, the foundation has dispatched 1,390 international volunteer groups to improve the educat
Jan. 13, 2020
-
Beauty firms, duty-free operators soar amid hopes for lifting of China sanctions
Major South Korean cosmetics and duty-free operators traded higher Monday amid hopes that China may lift its retaliatory economic measures under way for years against Seoul's decision to deploy a U.S. anti-missile system here. Amorepacific Corp., the country's top cosmetics maker, closed at 232,000 won($200), up 5.22 percent from the previous session's close, after touching as high as 236,000 won, the highest mark since April 24 last year. Shares in LG Household & Health Care, the second-lar
Jan. 13, 2020
-
Hyundai Mobis to spend big for for future car technologies
Hyundai Mobis Co., South Korea's biggest auto parts maker, will secure 9 trillion won ($7.8 billion) in the next three years for investment in future vehicle technologies, a company executive has said. In a group interview with South Korean reporters on the sidelines of the Consumer Electronics Show in Las Vegas last week, Hyundai Mobis Vice President Ko Young-suk briefed on how the company will secure the capital and where it will be spent, according to a company spokesperson. "
Jan. 13, 2020
-
Korea's hydrogen economy drive going smoothly
South Korea's bold drive to promote the use of hydrogen for power generation, vehicles and other industires is witnessing progress as sales of hydrogen fuel cell cars increased sharply last year and more charging stations were installed, the industry ministry said Monday.Seoul unveiled its so-called hydrogen economy drive last year, seeking to utilize the resource as the main source of energy for power generation, vehicles and other daily uses, while reducing reliance on fossil fuels and nuclear
Jan. 13, 2020
-
Korean drugmakers accelerate phase-3 clinical trials in China
Major South Korean pharmaceutical companies are ramping up the phase-three clinical trials of their key products in China as they seek to tap deeper into the world's second largest bio market.Samsung Bioepis Co. said it is awaiting approval from Chinese health authorities for the final stage of clinical development for its SB8, a biosimilar candidate referencing Avastin.Samsung Bioepis expects the China National Medical Products Administration to give it the green light this year, making SB8 the
Jan. 13, 2020
-
Kia Motors, 2 others still haunted by labor disputes
Labor disputes are still posing a major hurdle for some of the country's carmakers as they have yet to finish wage deals for the year of 2019 amid a still murky outlook, industry sources said Monday.Of the country's five carmakers, Hyundai Motor Co. and SsangYong Motor Co. sealed their wage deals last year without strikes. But three carmakers -- Kia Motors Corp., Renault Samsung Motors Corp. and GM Korea Co. -- have had difficulties in narrowing a gap over wages and working conditions with their
Jan. 13, 2020
-
Samsung’s market cap rises to world’s 18th
Blue chip Samsung Electronics, listed on South Korea’s main bourse Kospi, hit a record high last week pulling its market cap to the top 20 global list.The tech giant is expected to extend its winning streak on a widely optimistic forecast of its 2020 performance on the back of the recovering semiconductor market, according to industry sources.According to Bloomberg’s data, the total market valuation of Samsung as of Thursday last week came at $301.6 billion, the 18th-highest worldwid
Jan. 12, 2020
-
[Monitor] Long labor strikes in South Korea on decline
The number of working days lost due to labor strikes dropped to the lowest point last year since 2000, data from the Employment and Labor Ministry showed last week.A total of 402,000 days were lost last year, down 27.2 percent from 2018. The figure was calculated based on the total number of workers participating in strikes, the duration of the strikes, and businesses that have suffered from strikes for at least eight hours per day. The ministry attributed the decline to the deal reached between
Jan. 12, 2020
-
S-Oil CEO, employees participate in New Year’s hiking trip
South Korea-based oil refinery S-Oil said Sunday that it conducted a New Year’s hiking event which was attended by its CEO and employees to share New Year’s resolutions and reinforce their commitment.S-Oil CEO Hussain A. Al-Qahtani was joined by some 200 employees comprised of team leader-level managers, new employees and officers and hiked on Cheonggyesan on Saturday, the company said. During the hiking trip, Al-Qahtani told employees, “Uncertainties that we face today r
Jan. 12, 2020
-
Nuclear safety agency approves additional spent fuel storage facilities
Nuclear safety agency approves additional spent fuel storage facilitySouth Korea's nuclear safety agency said Friday that it has approved the construction of seven additional spent fuel storage structures at the Wolsong nuclear power plant to allow for uninterrupted power generation.The decision comes after the state-run Korea Hydro & Nuclear Power Co., said the load at the plant hit 93.1 percent of capacity in September 2019, according to the Nuclear Safety and Security Commission. Th
Jan. 10, 2020
-
SK Innovation to build 2nd car battery plant in US
SK Innovation Co., South Korea's leading refiner and chemical company, said Friday it will invest 1 trillion won ($860 million) to build its second car battery plant in the United States.SK Innovation has already invested 1.9 trillion won to build a car battery plant with a capacity of 9.8 GWh in Georgia.It has decided to make an additional investment to build a second plant in the US to meet soaring demand for all-electric vehicles there, a company spokesperson said. SK Innovation chief executi
Jan. 10, 2020
-
Korean business circles welcome data deregulation
A South Korean business association has welcomed on Friday the passage of three revised bills that ease regulations on the use of personal information. A day earlier, the National Assembly passed the revisions of three bills related to the promotion of information and communication networks, personal information protection and credit information protection in a plenary session. They were proposed in November 2018. “Data is like crude oil in the fourth industrial revolution. The amendm
Jan. 10, 2020
-
Renault to partially shut down S. Korea plant amid strikes
Renault Samsung Motors Corp. said Friday it has decided to partially shut down its sole plant in South Korea to reduce production losses resulting from strikes staged by its unionized workers. In the past 12 days, the union held partial strikes at the plant in Busan, 453 kilometers south of Seoul, demanding higher wages. It caused production losses of 6,000 vehicles worth 110 billion won ($95 million). "We have decided to shut down the plant for the night duty time that begins at 3:45 p.m.
Jan. 10, 2020
-
[Monitor] Ups and downs in chaebol leaders’ stock assets
Incumbent as well as titular leaders of South Korea’s major conglomerates saw changes in their stock assets over the past several years, according to data released by corporate tracker Korea CXO Institute.While the asset value of stocks held by ailing Samsung Electronics Chairman Lee Kun-hee has doubled since 2011, it has reduced by half for Hyundai Motor Group Chairman Chung Mong-koo.The stock assets were tracked between August 2011 to Jan. 2. The stock assets of late LG Group Chairman Ko
Jan. 9, 2020
-
Moon vows to promote new industries, regional economy in Pohang
President Moon Jae-in visited a special regulation-free district in Pohang, North Gyeongsang Province, on Thursday to highlight the need for bold action to encourage new industries and revitalize the regional economy. Moon attended an investment ceremony where GS Engineering & Construction and authorities of the province and city signed an agreement for a new battery recycling factory. He also visited a steel mill in the port city operated by the country’s leading steelmaker Posco.Duri
Jan. 9, 2020
-
Riot Games Korea chief passes away
Park Jun-kyu, country head of Riot Games Korea, passed away Thursday. He was 44. Riot Games Korea said that Park was diagnosed with liver cancer in 2019 and that his condition drastically worsened early this month. Due to his characteristic hardworking nature, Park refused to take leave or make his illness publicly known up until the day of his death, a Riot Games Korea official said. The industry responded in shock to the news of his passing. Park’s last public appearance had only b
Jan. 9, 2020
-
[Photo News] Doosan debuts at CES
Doosan Group Chairman Park Jeong-won looks at a cooperative robot being showcased at the Consumer Electronics Show 2020 in Las Vegas on Wednesday. It is the first time the infrastructure giant has taken part in the event. Park told reporters that the group was making efforts to take the lead in advanced technologies in its business areas. (khnews@heraldcorp.com)
Jan. 9, 2020