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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[Herald Interview] Indiana looks to expand Korean ties in chips, AI
The state of Indiana has risen as one of the hottest investment destinations in the US for South Korean companies as of late, with Samsung SDI leading the pack by committing billions of dollars for joint battery plants there. Indiana is now hoping to expand the scope of collaboration with Korean players in the sectors of semiconductors and artificial intelligence. “There’s a lot of alignment when we talk about semiconductors. Purdue University was one of the first universities to hav
March 11, 2024
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[Herald Interview] Crypto.com eyes expansion into Korea
Cryptocurrency exchange operator Crypto.com hopes to expand its footing here by launching an exchange app for Korea in the first half of this year, said Eric Anziani, president and chief operating officer at the Singapore-based crypto trading platform. After more than two and a half years of working to build a foundation in Korea, Crypto.com is ready for full competition on the market. The company operates in 90 countries around the world and has more than 80 million global users. “We are
March 11, 2024
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Coupang expands overseas direct purchase service to Japan
South Korean e-commerce giant Coupang announced Monday that it will expand its Rocket Jikgu service coverage to Japan, following its fast-delivery service launches for the US, China and Hong Kong. The expansion of Rocket Jikgu, an overseas direct purchase service, will now allow the direct purchase in Korea of products from Japan. The Japanese overseas direct purchase market grew by 11 percent in 2023 compared to the previous year, with major categories including fashion, food and home goods, ac
March 11, 2024
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Daesang launches new K-snack lineup for global palates
South Korean food company Daesang has unveiled its new Korean Street Food product line through its international brand, O'food. According to the company on Monday, the launch signals a strategic push to adapt and expand the company’s offerings to meet the growing global appetite for Korean cuisine. In recent years, O'food's Tteokbokki product has seen a remarkable 4.7-fold sales increase over the previous year, highlighted by strategic placements in major US supermarket chai
March 11, 2024
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Doosan wins W150b supply deal for Saudi power plants
Doosan Enerbility, a leading energy solutions provider in South Korea, announced on Monday that it has signed a contract valued at 150 billion won ($114 million) to supply equipment for Saudi Arabia's largest combined-cycle power plant project. The agreement was reached with China’s SEPCO-3, responsible for the engineering, procurement and construction of the combined-cycle power plants in the Taiba and Qassim regions in the Saudi kingdom. Under the contract, Doosan Enerbility will su
March 11, 2024
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EcoPro to inject W1.2tr in Pohang battery hub
South Korean battery materials maker EcoPro said Sunday it would invest 1.2 trillion won ($910 million) in its Pohang campus in North Gyeongsang Province this year to expand its comprehensive secondary battery supply chain, which covers everything from producing key components to recycling. The company plans to allocate 690 billion won to expanding its precursor plant, with additional funds directed toward increasing production of anode material at 32 billion won, lithium hydroxide production fa
March 10, 2024
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Koreans lose appetite for fruits amid soaring prices
South Korea’s fruit consumption has diminished by almost 20 percent over the past 15 years amid supply shortages and soaring prices, government data found Sunday. According to the Ministry of Agriculture, Food and Rural Affairs, the nation’s per capita fruit consumption declined by 19 percent to 55 kilograms in 2022 after peaking at 67.9 kilograms in 2007. Tangerines and apples topped the per capita consumption with 11.8 kilograms and 11.0 kilograms, respectively, followed by pears (
March 10, 2024
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Samsung’s H1 hiring season starts Monday
Samsung Group, South Korea’s top conglomerate, said Sunday that its official recruitment in the first half of this year will start Monday, with 19 affiliates joining the large-scale hiring of entry-level workers. The key affiliates include Samsung Electronics, Samsung Display, Samsung Biologics, Samsung SDS and Samsung SDI, Samsung C&T, Samsung Life Insurance and The Shilla Hotel. Applicants are required to submit their applications via Samsung’s official recruitment website from
March 10, 2024
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SK Ecoplant, Austria’s Therme to develop luxury resort in Songdo
South Korean energy and environmental solutions provider SK Ecoplant announced Sunday that it has partnered with the global wellness company Therme Group to develop a resort and spa in Incheon, Gyeonggi Province. The collaboration was formalized with a memorandum of understanding signing ceremony at SK Ecoplant's headquarters in Seoul on Friday, attended by SK Ecoplant CEO Park Kyung-il and Therme Group Chair Robert Hanea. The Austria-based Therme Group, famous for its innovative wellness r
March 10, 2024
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[Photo News] Empowering women leaders
Shinhan Financial Group Chairman Jin Ok-dong highlighted the need to nurture female leaders during the 2024 Shinhan SHeroes Conference held at the group’s headquarters in central Seoul on Friday. The conference celebrated the launch of the seventh class of Shinhan SHeroes, an in-house leadership training program for women. "Female leaders are individuals responsible for promoting diversity," Jin said. "Shinhan will train them to lead changes of the times." The program
March 10, 2024
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Handok-Genexine’s long-acting growth hormone gets orphan drug status in Korea
South Korean pharmaceutical company Handok announced Friday that GX-H9, a long-acting recombinant human growth hormone it co-developed with Genexine, has won orphan drug designation from the country's Ministry of Food and Drug Safety. Handok said the designation for GX-H9, which it received on Monday this week, will help the company speed up the launch of the medicine. In Korea, when a drug qualifies for the orphan drug designation, the drug is eligible for conditional approval based on res
March 8, 2024
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JB acquires stake in Vietnam's fintech app Infina
JB Financial Group on Thursday said it will acquire a minority stake in Vietnam’s retail investing app Infina, in a bid to help the group’s securities affiliate expand its customer base in the Southeast Asian country. In a strategic partnership deal, the group will buy 3.9 percent of Infina's shares and increase its holdings to some 5 percent depending on the results of collaboration between its brokerage unit JB Securities Vietnam and Infina. JB Securities Vietnam, based in H
March 8, 2024
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Lotte Group CEOs gather for AI conference in digital push
South Korean retail giant Lotte Group Chair Shin Dong-bin is stepping up efforts to increase the group’s artificial intelligence capability. Lotte Group, on Friday, announced that the company held a conference on AI technology at Lotte World Tower on Thursday. Around 110 officials from the group and its affiliates joined the conference, including Lotte Group Chair Shin, his eldest son and executive Vice President Shin Yoo-yeol, and chief executive officers of the group’s key business
March 8, 2024
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Samsung Display CEO named display industry association chief
South Korea will take back its sales lead in the global display market by 2027 with its technological edge, Samsung Display CEO Choi Joo-sun said Thursday upon his appointment as the new head of the Korea Display Industry Association. Choi vowed to boost the Korean industry's standing on the global stage through close collaboration with the government during his three-year term. "The Chinese government is spending a huge sum of money to foster its domestic display panel industry. So I
March 8, 2024
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Vine Group wraps up 2024 winter youth English camps
South Korean education provider Vine Group announced Thursday that its Sollute study abroad program has successfully concluded its 2024 winter vacation youth English camps. The winter vacation English camp, which attracted 141 participants, took place throughout January and February, lasting either three or seven weeks ahead of the new academic term. Its primary objective was to facilitate cross-cultural interactions while enhancing English language skills. Conducted in Canada, New Zealand, and
March 8, 2024
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Shinsegae heir apparent promoted to chairman
Chung Yong-jin, heir apparent of South Korea's Shinsegae Group, has been promoted to chairman to help the retail giant ride out unfavorable business environments and meet rapidly changing customer demands, the group said Friday. Shinsegae Group, which operates the country's biggest discount store chain and second-biggest department store chain, suffered a decline in sales for the first time last year since 1997, when it began to release the figures. "The appointment is aimed at ma
March 8, 2024
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Woori revamps private banking service
Woori Bank, South Korea's fourth-largest commercial lender, is enhancing its private banking services to solidify its reputation as a trustworthy institution for clients. In a press conference Thursday, the bank unveiled its renewed commitment to expanding its presence in the asset management sector amid ongoing trust issues within the banking industry. With this vision, Woori Bank has assembled a team of experts spanning various sectors, such as tax, foreign exchange and real estate. The l
March 7, 2024
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Lotte, LG in talks to sell petrochemicals plants
Korean petrochemicals firms are downsizing their businesses as they are grappling with lower demand and higher supply of products from China, according to industry sources Thursday. Lotte Chemical, South Korea’s leading petrochemicals company, has reportedly embarked on the process of selling its Malaysian unit Lotte Chemical Titan Holdings. In addition, its domestic rival LG Chem is said to be in talks with Kuwait Petroleum Corp. to sell a stake in its naphtha cracking center in Yeosu, So
March 7, 2024
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Seoul court bans former SK hynix chip researcher from working for US rival
In the wake of heated competition for chip supremacy, a Seoul court has stepped in to block a former chip researcher involved in chip design at SK hynix from working for US-based rival Micron Technology, alleging possible technology leaks. According to industry sources on Thursday, Seoul Central District Court granted permission to an injunction request filed by SK hynix late last month to prevent the former researcher from working for another company, and ordered the executive to pay 10 milli
March 7, 2024
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HD Hyundai Heavy Industries opens Manila office to foray into Southeast Asia
South Korean shipbuilding giant HD Hyundai Heavy Industries is seeking to continue its expansion into the burgeoning warship market in Southeast Asia as it opens a regional base in the Philippines. The company said Thursday it recently held the opening ceremony of its engineering office in Bonifacio Global City, Manila. The event was attended by HD HHI’s Naval and Special Ship Business unit chief Joo Won-ho and Philippine Deputy Minister of Undersecretary for Acquisition and Resource Manag
March 7, 2024