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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[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
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Patients opting to die with dignity on steady rise
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From bees to polar bears, Korean banks' love of animated characters
Top financial groups here have put forward animated characters as their faces in a bid to woo a wider range of customers. Woori Financial Group has recently brought back its band of animated characters, WiBee Friends, pulling them out of a six-year hiatus. Woori Bank CEO Cho Byung-kyu pushed for the return of the characters, seeing the need to appeal to customers with a softer, friendlier image, according to the firm. With Woori jumping on the bandwagon, all four of Korea’s top financial g
Feb. 6, 2024
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High foreign reservations buoy Seollal tourism boom
The upcoming Seollal holiday is expected to see a significant rise in foreign tourists visiting Korea, prompting travel agencies and relevant tourism industries to prepare for a mass travel rush. According to global travel service provider Trip.com's report on Tuesday, reservation rates for foreign travelers between Feb. 9 to 12 have surged by approximately 40 percent, compared to the previous holiday season. The increase encompasses various regions, with Japan, Hong Kong, Taiwan, Thailan
Feb. 6, 2024
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Samsung Heavy Industries bags W4.6tr LNG carrier order
Samsung Heavy Industries scored a 4.57 trillion won ($3.43 billion) order with a Middle Eastern shipowner -- the single largest contract in its history -- to build 15 liquefied natural gas carriers, the South Korean shipbuilder said Tuesday. The 174,000-cubic-meter LNG carriers will be delivered to the shipowner in phases through October 2028. The previous record for the single biggest contract was the 3.96 trillion won deal signed with Taiwan-based shipping company Evergreen Marine for 16 metha
Feb. 6, 2024
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[Photo News] Korean defense firms target Middle East
At the 2024 World Defense Show in Saudi Arabia on Monday, Hyundai Rotem's defense solutions business unit head, Lee Jung-yup (eighth from left), and LIG Nex1’s overseas business manager, Lee Hyun-soo (ninth from left), formalized a defense export cooperation agreement aimed at the Middle East market. This collaboration targets surging demand for modernized defense capabilities in the region, strengthening the global footprint of Korean defense technologies. Hyundai Rotem has showcased
Feb. 6, 2024
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Court clears Samsung chief of all charges
A Seoul court acquitted Samsung Electronics Chairman Lee Jae-yong of all charges related to a 2015 merger fraud case on Monday, clearing the path for the country's biggest tech giant to push forward with investment for future technologies. In the final verdict handed down at 2:55 p.m., judges at the Seoul Central District Court found Lee and 13 other defendants -- former executives of Samsung -- all not guilty. The court dismissed the allegations proposed by prosecutors, who claimed that Lee and
Feb. 5, 2024
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[Gadget Review] Real-time call translation: SKT A. vs. Galaxy S24 Ultra
More and more artificial intelligence services are becoming available for use in daily life, and one of the breakthrough applications is set to come in real-time translation built into phone calls. In its latest flagship smartphone, the Galaxy S24 series, Samsung Electronics presented its Live Translate feature for the first time. This feature competes directly with SK Telecom's A., a mobile app developed by the mobile carrier to allow iPhone users in Korea to explore real-time translation
Feb. 5, 2024
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KCC chief reiterates call to abolish handset subsidy ban
Broadcasting watchdog chief said Monday that scrapping the controversial handset subsidy ban can provide "greater benefits" to consumers as the removal would boost competition among mobile carriers to lower smartphone prices to sell more. "The Mobile Device Distribution Improvement Act was legislated in 2014 to resolve excessive competition. As time passed, however, the act limited the local telecom carriers' competition and caused the cost of smartphones to become even more
Feb. 5, 2024
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GNT Pharma partners with Pfizer for animal drug development
GNT Pharma said Monday that the company has signed an agreement with Pfizer's contract manufacturing arm for overseas production of the company’s veterinary medication GedaCure. Under the recent agreement, Pfizer CentreOne, which has production facilities in around 30 countries, will provide GNT Pharma with CDMO services in the countries, including the US and Europe, where GNT Pharma launches GedaCure. GedaCure is a chewable tablet of crisdesalazine and the world’s first multi-t
Feb. 5, 2024
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Hahn & Co. makes offer to buy SsangYong C&E stakes
Hahn & Co., the nation's largest private equity firm based on assets under management, launched a bid on Monday to take full ownership of cement producer SsangYong C&E, offering over 700 billion won ($525 million) for the shares it does not hold. Hahn & Co. will offer 7,000 won per share for the cement producer to secure an additional 20.1 percent stake in the company, spending 701.8 billion won, according to an announcement made through regulatory filings from its special purpo
Feb. 5, 2024
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CJ’s Miky Lee wins Abu Dhabi Festival Award
ABU DHABI -- Miky Lee, vice chair of CJ Group and its entertainment and media subsidiary CJ ENM, has won this year’s Abu Dhabi Festival Award, a top honor offered to individuals in recognition of their outstanding contributions to culture and the arts. The Abu Dhabi Music & Arts Foundation held the award ceremony in the UAE capital Saturday. Lee attended the event in person to receive the award. The annual award, inaugurated in 2012 by the foundation in association with the Swiss luxur
Feb. 5, 2024
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Court set to rule on Samsung chief in controversial 2015 merger case
A Seoul court is set to deliver its ruling on Samsung Electronics Co. Chairman Lee Jae-yong on Monday on charges of stock price rigging and accounting fraud connected to the controversial 2015 merger of two Samsung affiliates. The Seoul Central District Court is scheduled to hold a sentencing hearing at 2 p.m. on Lee, three years and five months after the Samsung chief was indicted in connection with the merger of Cheil Industries Inc. and Samsung C&T Corp. Lee was charged with stock price r
Feb. 5, 2024
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HD Korea Shipbuilding attains one-third of yearly order goal
HD Korea Shipbuilding & Offshore Engineering Co., the world's top shipyard, has already achieved nearly one-third of its yearly order target on brisk demand for green vessels, industry sources said Monday. So far this year, the shipbuilder has clinched $4.65 billion worth of orders to construct 38 ships, or 34.4 percent of its yearly target of $13.5 billion, according to the sources. In light of the faster-than-expected pace, HD Korea Shipbuilding, a subholding company of shipbuilding,
Feb. 5, 2024
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[Photo News] Hanwha in Saudi
Hanwha Group's defense affiliates -- Hanwha Aerospace, Hanwha Systems and Hanwha Ocean -- are showcasing their latest weapons systems at the World Defense Show 2024 held in Riyadh, Saudi Arabia, from Sunday to Thursday. Displaying the defense solutions covering the air, land and ocean such as an advanced engine for a fighter jet, K9 howitzer and submarine technology, Hanwha said it will look to explore partnerships in the Middle East. (Hanwha Aerospace)
Feb. 4, 2024
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Court to rule on Samsung chief's alleged 2015 merger fraud
A Seoul district court is set to deliver a decisive ruling on Monday for Samsung Electronics Chairman Lee Jae-yong over the 2015 merger fraud case, under which he could face a prison term. The Seoul Central District Court will issue its decision on Lee, along with 14 current and former employees of Samsung, on charges of rigging company valuations and accounting fraud connected to the controversial 2015 merger of two Samsung affiliates -- Cheil Industries and Samsung C&T Corp. The final ruli
Feb. 4, 2024
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[Photo News] IBK chairman starts second year at helm
Industrial Bank of Korea Chairman and CEO Kim Sung-tae convened a meeting with top executives from the bank's subsidiaries and branches at the IBK training center in Chungju, North Chungcheong Province, on Friday, marking the start of his second year in office. Emphasizing the bank's pivotal role in "driving Korea's economic growth by leveraging policy financing for small and medium-sized enterprises," Kim underscored the importance of boosting support for small business
Feb. 4, 2024
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Posco International to invest W1tr in energy sector expansion
Posco International, the trading arm of Posco Group, is poised to invest 1 trillion won ($755 million) exclusively in the energy sector this year, paving the way to establish itself as a globally recognized eco-friendly conglomerate in its key business area. The company outlined its business plans Tuesday, emphasizing "global expansion" as its mantra for 2024 to strategically bolster its major business value chain. Specific plans include a threefold increase in natural gas production a
Feb. 2, 2024
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Hahn & Co. completes aquisition of SKC’s fine ceramics biz for W360b
Hahn & Co., the nation's largest private equity firm based on assets under management, announced Friday that it has acquired 100 percent stake in SKC's fine ceramics business for 360 billion won ($270 million). SKC operates as the semiconductor material arm under SK Group, the country's second-largest conglomerate. The acquisition comes three months after the contract was signed in late October. Under Hahn & Co.’s ownership, the company will operate with a new name
Feb. 2, 2024
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Toss kicks off IPO process, eyes 2025 listing
Viva Republica, the operator of financial technology app Toss, has kicked off procedures for an initial public offering, having selected lead underwriters. Securities firms estimate that the company's valuation could reach up to 20 trillion won ($15.1 billion). Viva Republica selected crosstown rivals in the local IPO market -- Korea Investment & Securities and Mirae Asset Securities -- as the lead underwriters, according to industry sources Friday. The securities firms have reportedly
Feb. 2, 2024
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Govt. to grow K-food industry to W300tr by 2027
The South Korean government aims to propel the K-food industry to reach 300 trillion won ($227 billion) worldwide by 2027, responding to the burgeoning global appetite for Korean cuisine. The vision was announced by the Ministry of Agriculture, Food and Rural Affairs, during an emergency economic ministers meeting Friday. The target signifies a doubling from the 2021 figure of 152 trillion won, with the number of overseas Korean restaurants set to increase to 15,000 globally, up from 9,923 in 20
Feb. 2, 2024
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Mastern to support local medical device maker expand US presence
Mastern America, the US subsidiary of local asset manager Mastern Investment Management, has joined hands with Hironic, a Korean medical device company, to expand its presence in the US market. Mastern America announced Friday that it has forged a four-party memorandum of understanding with Hironic, the city of Taylor, Texas, and the Taylor Economic Development Corp. A signing ceremony was held in Seoul on Wednesday, with Mastern America CEO Joseph Oh, Hironic CEO Lee Sang-won, Taylor Mayor Bran
Feb. 2, 2024