Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Yoon set for talks with Marcos in Philippines
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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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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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First lady’s Dior bag scandal to be at center of Assembly audit
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Firefighters’ 3,000 won meals spark nutrition concerns
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KT affiliate joins hands with Hytera to tap Asia-Pacific two-way radio market
KT powertel Co., an affiliate of South Korean telecommunications giant KT Corp, said Wednesday it has joined hands with China-based walkie-talkie producer Hytera Communications Corp. to tap deeper into the Asia-Pacific LTE-based two-way radio market. KT powertel and Hytera will cooperate to explore business opportunities in the member states of the Regional Comprehensive Economic Partnership, the trading bloc that involves 10 South East Asian nations and six other partner countries, including So
Dec. 18, 2019
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S-Oil lauds promising scientists, pledges research funds
South Korean oil refiner S-Oil said Tuesday that it has awarded 20 doctorate researchers and science professors and contributed funds to six young rising scientists. S-Oil Science and Culture Foundation, a public trust established by the oil refiner, wholly owned by Saudi Aramco in 2011, said it held a ceremony to award outstanding science thesis and young rising scientists. A total of 10 doctorate researchers and 10 science professors in the field of mathematics, physics, chemistry, l
Dec. 17, 2019
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Amorepacific partners with US vegan cosmetics firm Milk Makeup
South Korea’s Amorepacific Group and US vegan cosmetics company Milk Makeup are partnering in the areas of marketing and business operations, the Korean firm said Tuesday.Milk Makeup, established in New York in 2015 as a cruelty-free and 100 percent vegan cosmetics firm, is popular for its “clean beauty” concept. Its products are sold in major markets via personal care and beauty chain Sephora and online retailer Cult Beauty. Market sources estimated that Milk Makeup will
Dec. 17, 2019
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Samsung execs sentenced to jail in union-busting case
Samsung execs sentenced to jail in union-busting caseA Seoul court handed down jail terms to key Samsung executives on Tuesday and detained them for sabotaging labor union activities at the top conglomerate's customer service unit.The Seoul Central District Court sentenced Lee Sang-hoon, Samsung Electronics Co.'s chairman of board, to 18 months in prison for breaching labor union-related laws when he served as chief financial officer. "While Lee claims there were many areas he did not know
Dec. 17, 2019
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[Herald Interview] ‘In influencer-economy era, even internet giants require 3rd-party big data’
When Korean telecom firm KT decided to open a platform leveraging its big data on consumer behavior, it searched for other models to benchmark, but found it difficult. It finally zeroed down on the Shanghai Data Exchange, founded in 2016. The two organizations have since signed a memorandum of understanding to work on cross-border collaboration to nurture a global big data platform.SDE’s Vice President Lu Yong and COO Shen Xiangyu said in an exclusive interview with The Korea Herald that t
Dec. 17, 2019
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KT opens Korea’s first AI-based big data platform
Telecommunications firm KT said Tuesday it has opened South Korea’s first artificial intelligence-based big data platform to be shared and used by individuals and business on demographics, real estate and consumption trends, among others.The new platform, named KT Big Data Platform, will enable 113 terabytes’ worth of big data trading between individuals and 16 institutions, the firm said. It started operations Monday. Some of its most prominent features are the AI-powered data predi
Dec. 17, 2019
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Daewoo Shipbuilding bags $160m order for 2 ships
Daewoo Shipbuilding Marine & Engineering Co., the world's second-largest shipbuilder by orders, said Tuesday that it has secured a $160-million order to build two liquefied petroleum gas carriers.Under the deal, Daewoo Shipbuilding will build two very large gas carriers for Avance Gas Holding Ltd., the company said. Daewoo Shipbuilding said the two carriers, each with a capacity of 91,000 cubic meters, will be delivered to the Bermuda-based company by the first quarter of 2022. With the late
Dec. 17, 2019
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Samsung, SK hynix hit fresh yearly highs amid rosy outlook
Shares in Samsung Electronics and SK hynix -- South Korea's two largest chipmakers -- soared to close at fresh yearly highs on Tuesday, buoyed by expectations for growing demand and a recovery in global chip prices. Samsung, the world's No. 1 memory chipmaker, spiked 3.66 percent to close at a fresh 52-week high of 56,700 won ($48.40) and SK hynix advanced 4.74 percent to end at a new yearly high of 92,800 won after rising as high as 93,800 won.The broader KOSPI, advanced 1.27 percent to close a
Dec. 17, 2019
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LS Cable & System to list EV parts arm on Kosdaq
LS Cable & System said Tuesday it is pushing ahead with the initial public offering of its electric vehicle parts unit LS EV Korea, with the aim of achieving sales of 1 trillion won ($858 million) in 2030 in the global market.The Korean cable firm plans to file for preliminary screening of the EV unit at the nation’s tech-heavy secondary Kosdaq bourse. LS EV Korea was established in November 2017 after LS Cable & System spun off its electric vehicle parts business to nurture i
Dec. 17, 2019
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S. Korea aims to expand prowess in artificial intelligence
South Korea is aiming to stay ahead of rivals in the field of artificial intelligence by 2030 to bolster its economy and improve the living standards of its citizens, the science ministry said Tuesday.Under the national strategy, the country plans to leverage its prowess in memory chips to build the world's most competitive AI chip industry, with new semiconductors having 25 times the processing speed and just one-thousandth the power consumption of existing integrated circuits.Asia's fourth-lar
Dec. 17, 2019
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HHI Group finalizes 17% stake sale of oil refining unit to Aramco, raises W1.37tr
The world’s biggest oil company Saudi Aramco has become the second-largest shareholder of Hyundai Oilbank by paying its parent group Hyundai Heavy Industries Group 1.37 trillion won ($1.1 billion) for a 17 percent stake, according to a regulatory filing on Tuesday.This is in line with the investment agreement signed between HHI Group and Aramco on Jan. 28. HHI Group said it plans to use the proceeds to pay off borrowings to improve its financial structure and to invest in new business
Dec. 17, 2019
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China biggest buyer of Korean cosmetics in 2018: report
China was the biggest buyer of South Korean beauty products last year, accounting for more than 60 percent, a report showed Tuesday.The report compiled by the Korea International Trade Association showed that 65.6 percent of outbound shipments of locally made cosmetics products headed to China, Hong Kong and Taiwan in 2018.Exports of cosmetics products to the 10-member Association of Southeast Asian Nations market only accounted for 10.6 percent last year. The report expressed concerns tha
Dec. 17, 2019
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S. Korea facing trade barriers in 29 nations: data
South Korea faces non-tariff and anti-dumping barriers in 29 countries, the trade ministry said Tuesday, vowing to resolve or lift such trade hurdles to promote exports.As of this month, a total of 208 trade barriers targeting South Korea are in effect, according to the Ministry of Trade, Industry, and Energy.Since August, 15 new trade barriers have been launched against South Korean products, while six others were terminated, it added. Despite growing protectionism around the globe, howev
Dec. 17, 2019
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Boeing to halt production of 737 Max airliner in January
(AP) -- Boeing Co. said Monday that it will temporarily stop producing its grounded 737 Max jet starting in January as it struggles to get approval from regulators to put the plane back in the air.The Chicago-based company said production would halt at its plant with 12,000 employees in Renton, Washington, near Seattle. But it said it didn't expect to lay off any workers "at this time."The move amounts to an acknowledgement that it will take much longer than Boeing expected to win appr
Dec. 17, 2019
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LG CNS unveils real-time verification solution using actual transaction data
LG CNS Co., an IT service subsidiary of South Korea's LG Group, on Tuesday unveiled a real-time system verification solution that utilizes actual transaction data. LG CNS claimed PerfecTwin is the world's first IT system verification tool that conducts tests entirely with actual transaction data. After capturing data from an existing system, the tool automatically applies data on a new system and runs tests to detect errors, allowing engineers to compare and verify system in real-time, according
Dec. 17, 2019
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Airlines to freeze fuel surcharges on int'l routes in Jan.
South Korean airlines will freeze their fuel surcharges on international routes in January because there has been no change in jet fuel prices, industry sources said Tuesday.The surcharges for one-way tickets on long-haul international routes will be capped at 34,800 won ($30) next month, almost unchanged from December.If the average jet fuel price on the Singapore spot market rises over $1.50 per gallon, local airlines are allowed to impose fuel surcharges, starting one month later.Jet fuel pri
Dec. 17, 2019
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S. Korea to nurture industry for eco-friendly vessels
South Korea's Cabinet approved a motion on Tuesday that centers on nurturing industries for eco-friendly vessels to better deal with tightened international regulations and reduce emissions of fine dust.The trade ministry said it would roll out a set of measures to speed up the development and supply of such ships using an array of resources ranging from liquefied natural gas, methanol, to hydrogen.The country will gradually replace 140 state-owned ships with those utilizing clean energy sources
Dec. 17, 2019
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Korean drug safety authority reviewing metformin
The Korean drug safety authority said Monday that it is directly reviewing products containing metformin, the Type 2 diabetes treatment whose commercialized variants in Singapore have been tested to contain an unacceptable level of a cancer-causing impurity. This impurity, called N-nitrosodimethylamine, or NDMA, was found in three out of 46 metformin finished products sold in Singapore. Singapore’s Health Sciences Authority recalled the products. Metformin is widely used to treat Type 2 di
Dec. 16, 2019
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Hyundai’s Sonata named best sedan in Saudi Arabia
The freshly revamped Sonata by Hyundai Motor was named the best sedan at a motor show held in Saudi Arabia last week, raising prospects for its sales performance in the Middle East.In a vote by a group of auto journalists in the country Sonata won high scores in overall categories that examined the sedan’s design, safety technology and entertainment features, the company said. The result came amid the carmaker expanding its presence in the region’s largest auto market of 400,000-500,
Dec. 16, 2019
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Shipbuilders, chipmakers tipped to turn around in 2020: analysts
South Korea's major exporters such as shipbuilders and chipmakers are likely to see their business performances improve next year as eased uncertainties over the Sino-American trade dispute help jack up demand overseas, analysts said on Monday.Last week, the United States and China announced a much-awaited phase-one deal for their protracted trade war, which has weighed heavily on the global economy since early 2018, although details have not yet been unveiled and there are still lingering uncer
Dec. 16, 2019