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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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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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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[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
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Igis to create fancy office complex in central Seoul
Local real estate asset manager Igis Asset Management is set to move forward with its plan to refurbish the office area near the Seoul Station, having recently acquired two office properties on the site. The asset manager announced Monday it had acquired Metro Tower (41,139.6-square-meters) and Seoullo Tower (27,897.5-square-meters) in the area, which connects with another property owned by the company, the Millennium Hilton Seoul. Through the project, the area, situated near the iconic Namsan,
March 18, 2024
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Dyson founder visits Seoul for global debut of new hair dryer
James Dyson, the founder and senior engineer of UK home appliance giant Dyson, visited Seoul on Monday to unveil the company’s new hair dryer, the Dyson Supersonic Nural. The new hair dryer, which is designed to better protect hair and the scalp from heat, made its global debut in Korea, one of the brand’s top-selling markets. The 76-year-old Dyson founder showed his appreciation for the local market as he took the stage to introduce the new machine in person. “What we are tryi
March 18, 2024
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K-water to share know-how with Vietnam
Korea Water Resources, the state-run water management agency, announced Monday that it has partnered with Vietnam’s National Center for Water Resources Planning and Investigation to address the country's water concerns and mitigate against climate change impacts. The collaboration was formalized through a memorandum of understanding signed at the International Conference on Water held in Hanoi, Vietnam, on March 15. Vietnam grapples with water scarcity as it is located downstream of t
March 18, 2024
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Korean Air to expand flights to pre-pandemic levels
Korean Air on Monday said it plans to expand the number of its international flights for the upcoming summer season, elevating its operational rate to nearly 96 percent of pre-pandemic levels. From March 31 through Oct. 26, the company will resume operations of weekly flights to four cities, including China’s Zhengzhou and Zhangjiajie, as well as Zurich and Bangkok. The Incheon-Zurich route will have three weekly flights to meet the high demand for summer travel to the Swiss city among Kor
March 18, 2024
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Asiana Airlines wins data transfer certification in China
Asiana Airlines on Monday announced that it has become the first domestic airline to win the Certification of Cross Border Transfers of Personal Information, as mandated by China's Personal Information Protection Law. This certification affirms the company's adherence to the stringent requirements necessary for the secure transfer and management of personal data to regions outside China. The achievement follows China's introduction of updated information protection regulations in
March 18, 2024
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Samsung Electro-Mechanics to launch ‘weatherproof’ camera modules for cars
Samsung Electro-Mechanics is set to start mass production of “weatherproof” camera modules with cutting-edge water-repellent capabilities and heating features for cars this year, the company said Sunday. In the wake of growing demand for enhanced image quality in automotive assistance features and the development of autonomous driving technology, Samsung aims to expand its presence in the camera module industry with its advanced technologies. "Accidents occur when camera sensors
March 17, 2024
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[Herald Interview] Lithium-rich Chile seeks to lure more Korean investment
Chile's Ministry of Public Works and the investment promotion agency, InvestChile, recently visited Seoul to boost the country's infrastructure and technology sectors, inviting investors in Korea to participate in its extensive portfolio of projects. During an interview with The Korea Herald at the Embassy of Chile in central Seoul on Thursday, InvestChile Director Karla Flores and Concession General Director Juan Manuel Sanchez shed light on their strategies to attract new investment
March 17, 2024
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[Photo News] Bank for senior customers
A new Hana Bank branch in Daejeon features a cultural space tailored to senior customers. The Hana 50+ Culture Bank, the 10th of its kind, aims to offer diverse cultural and educational programs to better meet the growing needs of the older generations. (Hana Financial Group)
March 17, 2024
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Korea ranks 8th in crypto gains in 2023: report
South Korea was ranked eighth globally in terms of cryptocurrency profits last year, according to a report by blockchain data analytics firm Chainalysis on Sunday. Investors around the world saw a combined $37.6 billion in their crypto gains in 2023. The figure was a 76 percent plunge from a $159.7 billion profit in 2021 but a drastic rebound from a $127.1 billion loss in 2022. The relatively modest gains last year imply a more cautious approach by investors in liquidating their crypto assets, t
March 17, 2024
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Samsung C&T shareholders vote down activists' dividend hike proposal
Samsung C&T has made it through a challenging proxy season with its shareholders backing its 10 percent increase plan for dividend payouts, averting resistance from activist funds that called for significantly higher returns. Its shares sank nearly 10 percent after the general shareholders meeting took place Friday. The company's proposal to pay a dividend of 2,550 won ($1.90) per common share and 2,600 won for each preferred share was approved. Among valid stocks with voting rights, 77
March 15, 2024
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Yuhan restores chairperson post after 28 years
South Korean pharmaceutical giant Yuhan has decided to reinstate the chairperson and vice chairperson positions for the first time in 28 years, since Chairman Yeon Man-hee stepped down from his post in 1996. Yuhan shareholders approved changes to the articles of incorporation to reestablish the posts during the 101st general meeting of shareholders on Friday. Who will become the company’s chairperson and vice chairperson, however, has not yet been decided, according to the company. “
March 15, 2024
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Naver to reform news service for transparency
Korean internet giant Naver said Friday it would introduce a set of news service policies to enhance transparency and impartiality, with the intention of preventing defamatory media reports and strengthening measures againsts users who leave comments that violate election laws. To protect users who have suffered defamation or infringement of their rights due to media reports, Naver will provide easier access to request corrections and respond to articles online. The company will create a separat
March 15, 2024
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Overseas direct purchases to lead e-commerce trends: data
Amid escalating competition in Korea's e-commerce landscape, direct overseas transactions between individual sellers and consumers have become a growing trend, according to eBay. On Friday, eBay unveiled insights into this year's online direct purchase market, drawing from comprehensive annual sales data of Korean sellers gathered through its platform. Three major keywords were "Collectibles," "North America" and "March." Particularly, the keyword "Co
March 15, 2024
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Samsung Electronics' workers threaten first-ever strike
Samsung Electronics could face its first-ever labor strike, as unionized workers have secured the right to legally conduct a walkout after wage talks between management and labor have fallen through, according to industry sources Friday. The National Labor Relations Commission, a government agency under the Labor Ministry, held a coordinating session to arbitrate the wage deal between the two parties a day earlier, but ended up deciding to stop the talks as the two sides could not reach an agree
March 15, 2024
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Nongshim earns over 50% of its profit from overseas on K-food hype
The sales and operating profit of South Korea's top ramyeon maker Nongshim hit all-time highs last year thanks to the popularity of ramyeon products in foreign markets, the company said Friday. The company’s operating profit in 2023 jumped by 89.1 percent from a year earlier to reach 212 billion won ($159 million), while its annual sales came to 3.4 trillion won, up 9 percent on-year. "As global inflation stubbornly remains high, ramyeon products have appealed to foreign consumer
March 15, 2024
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[Investor] Samsung Electronics to receive $6b subsidy in US
The US Department of Commerce is poised to grant Samsung Electronics subsidies exceeding $6 billion, according to a news report Friday. “The US plans to award more than $6 billion to Samsung Electronics, helping the chipmaker expand beyond a project in Texas it has already announced,” Bloomberg reported, citing multiple unnamed sources. The federal funding for Samsung, South Korea’s leading chipmaker, comes alongside significant additional US investments being made by the firm,
March 15, 2024
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Bank Shinhan Indonesia, Indodana collaborate for digital lending service
Shinhan Bank on Friday said that its Indonesian subsidiary has teamed up with an Indonesian financial technology company to bolster its presence in the digital platform-based loan market in the Southeast Asian country. Bank Shinhan Indonesia and PT Artha Dana Teknologi Indodana signed a memorandum of understanding at the bank's headquarters in Jakarta on Thursday. PT Artha Dana Teknologi Indodana is a licensed digital transaction solution provider with 830,000 active users, offering install
March 15, 2024
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[Photo News] Korean Air's new engine maintenance complex
Hanjin Group Chairman and Korean Air CEO Walter Cho (center) attends the groundbreaking ceremony of the flag carrier’s new aircraft engine maintenance cluster in Unbuk, near Incheon International Airport, on Thursday. The new 578 billion won ($439 million) facility, set to be operational by 2027, is expected to become the largest engine maintenance complex in Asia with an annual capacity of handling maintenance of some 360 aircraft. “The new facility will pave the way for Korean Air
March 14, 2024
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Alibaba pledges $1.1b investment for Korea expansion
Alibaba Group, the company of Chinese e-commerce giant AliExpress, renowned for its budget-friendly offerings, plans to invest more than $1 billion in Korea over the next three years, with a massive distribution center being built within the year. According to industry sources on Thursday, Alibaba has recently submitted its business expansion plan in Korea, including an investment of $1.1 billion, to the local authorities possibly for regulatory approval. The investment plan includes a new distr
March 14, 2024
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New space agency hints at ‘no salary cap’ for workers
South Korea on Thursday began the official recruitment process for its new space body, Korea Aerospace Administration, or KASA, hoping to attract the best talent from in and outside the country. The government’s preparatory office for KASA held its first offline recruitment presentation in Sacheon, South Gyeongsang Province, where the KASA headquarters will be launched on May 27. As Korea has repeatedly underlined its interest in drawing in top-tier space professionals regardless of nation
March 14, 2024