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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Galaxy S24 series set new all-time presales record in Korea
Samsung Electronics’ latest Galaxy S24 series, touted as its first artificial intelligence smartphone, broke the company’s presales record in Korea, selling 1.21 million units in just a week. After the global Unpacked event in San Jose, California on Jan. 17, Samsung carried out a presales event for the latest Galaxy S24 series from Jan. 19 to 25 in Korea. During the weeklong event, the smartphone maker sold 173,000 units per day on average. The latest presale record not only surpass
Jan. 26, 2024
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[Newsmaker] SK hynix posts surprise Q4 profit, signaling chip recovery
SK hynix will upgrade its legacy chip fab in China to produce high-value-added products to enhance profitability and meet the demand for recovery, the company said on Thursday. In its regulatory filing on the same day, the world's second-largest chipmaker reported an earnings surprise for the October-December period in 2023, marking a turnaround after struggling from losses for four straight quarters earlier. "Unlike in the past, we will focus our investment decisions to deliver value
Jan. 25, 2024
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Inshorts introduces AI-based product placement for K-drama
South Korean advertisement company Inshorts has applied its "AI digital product placement solution" to promote products in the popular tvN drama "Maestra," marking the first time an AI-based technology has been used for product placement in the country. Samsung's "Bespoke Rug" and Wakti's "SW19 Hand Cream" were featured as part of the embedded marketing in a recent episode of the series aired via Disney+, tvN and Tving. The items, however, were i
Jan. 25, 2024
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LG Energy Solution invests in US lithium-metal battery firm
LG Energy Solution on Thursday announced a strategic equity investment in Sion Power, an Arizona-based battery technology developer, in a bid to take the lead in next-generation lithium-metal battery technologies. Established in 1994, the US battery technology firm boasts over 470 international patents, particularly in pioneering core technologies needed for lithium metal batteries. One of the company's advanced technologies includes a dendrite-resistant system that protects lithium metal a
Jan. 25, 2024
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[Photo News] Hyundai-SK partnership
SK Enmove CEO Kim Wone-kee (left) and Hyundai Motor Company President Yang Hee-won attend a partnership signing ceremony for the development of next-generation vehicle refrigerants at the SK Building in central Seoul on Thursday. The two companies agreed to develop refrigerants for electric vehicles and enhance readiness for tighter emissions rules in key markets. (SK Innovation)
Jan. 25, 2024
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[Photo News] S-Oil sharing
S-Oil CEO Anwar A. Al-Hejazi (left) poses for a photo with Kim Byong-joon, chairman of Community Chest of Korea, to deliver a donation of 3 billion won ($2.24 million) to the charity at CCK’s headquarters in Seoul on Wednesday. The donation will be used to help underprivileged households and social workers, especially in the southeastern industrial city of Ulsan where the refiner aims to build the nation’s largest petrochemicals plant by 2026. S-Oil has joined CCK’s sharing cam
Jan. 25, 2024
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LX Hausys eyes bigger footing in North American flooring market
Korean building materials company LX Hausys said Thursday it is joining the International Surface Event 2024, the largest flooring trade show in North America, in a bid to secure a bigger footing in the all-important market. More than 700 companies specializing in flooring, tiles and other building materials are expected to participate in the TISE 2024, which takes place in Las Vegas this week until Friday. The company’s exhibition booth, themed “Stage for Life," features a rang
Jan. 25, 2024
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[Photo News] US Congress Rep gets Korean name
Korea International Trade Association Chairman Koo Ja-yeol (right), who doubles as LS Group's chairman, shakes hands with Joe Wilson, the US representative for South Carolina, after their meeting on ways to boost economic cooperation in supply chains between the two countries at the Trade Tower in Seoul, Wednesday. During the meeting, Koo gifted Rep. Wilson a name card engraved with the Korean name Cho Il-seon, which sounds similar to his English name and has the meaning of the "front
Jan. 25, 2024
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[Photo News] Seollal inflation
Piles of apples are displayed at a large supermarket chain store in Seoul on Wednesday. Ahead of the Lunar New Year’s holiday season next month, grocery prices have soared more than 20 percent compared to a year ago, according to price tracker Korea Price Information on Wednesday. The average price of three apples at a traditional market was 15,000 won ($11.20), a 42.86 percent surge from the same period last year. (Yonhap)
Jan. 25, 2024
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[Graphic News] Air traffic in S. Korea’s airspace up 45% in 2023
Air traffic in South Korea’s territorial airspace jumped 45 percent in 2023 from a year earlier on unleashed pent-up demand for travel following years of the COVID-19 pandemic, the Transport Ministry said. The number of airplanes that flew over the Korean airspace reached 780,635 last year, up from 539,788 a year ago, the Ministry of Land, Infrastructure and Transport said in a statement. But last year’s air traffic over Korea’s airspace has yet to recover to pre-pandemic level
Jan. 25, 2024
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Chambers call for more incentives, eased regulations in health care, renewables
Korea would be more attractive for global renewable energy and health care companies if they were given higher financial incentives and eased regulations, chiefs of foreign business lobby groups said Wednesday. The Korea Chamber of Commerce and Industry held the 2024 Foreign Chamber Day with representatives of foreign business networking organizations to share opinions on difficulties faced by global firms operating here in the fields of economic cooperation, labor, trade and regulatory appr
Jan. 24, 2024
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Samsung Biologics' profit exceeds W1tr for 1st time
Samsung Biologics’ annual operating profit topped 1 trillion won ($749 million) last year for the first time, according to the company’s regulatory filing on Wednesday. Its operating profit came to 1.14 trillion won last year, up 13 percent from the previous year. Sales also surged 23 percent during the same period. The sales figure, in particular, exceeded the full-year earnings guidance the company had announced earlier. The company previously anticipated sales to reach 3.60 trilli
Jan. 24, 2024
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[KH Explains] Financing limbo threatens W30tr Polish arms deal
South Korea's ambitious multibillion-dollar arms export deals with Poland may be at risk, as the National Assembly continues to sit dormant on a bill that must be passed in order to for the deals to come through. Having signed an initial comprehensive arms export agreement worth 17 trillion won ($12.7 billion) for tanks, howitzers and fighter jets in July 2022, the related Korean defense companies -- Hyundai Rotem and Hanwha Aerospace -- and the Polish government have been negotiating to fo
Jan. 24, 2024
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Celltrion, China’s WuXi bolster ties on ADC partnership
Celltrion said Wednesday that the company has signed a business agreement with China’s WuXi XDC to accelerate its development of antibody-drug conjugates. WuXi XDC, a 60:40 joint venture between WuXi Biologics and WuXi STA, is a Chinese pharmaceutical company that provides contract research and development manufacturing organization services, mainly on ADCs and bioconjugates. The latest agreement is an extension of a contract development and manufacturing organization deal signed in Decemb
Jan. 24, 2024
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Homeplus rolls out Lunar New Year gift sets
South Korean discount store chain Homeplus on Wednesday said it will start selling 2024 Lunar New Year gift sets from Saturday through Feb. 11, as the season of gift-giving is once again upon us. During this holiday season, Homeplus offers a curated selection of some 1,060 items at discounts of up to 50 percent. Based on consumer purchase data collected during about three weeks of pre-orders, the retailer has prepared a variety of gift sets, ranging from budget packages to high-end meat or seafo
Jan. 24, 2024
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HD Hyundai Oilbank seeks bigger footing in N. America's lubricants market
South Korean oil refinery and petrochemical firm HD Hyundai Oilbank said Wednesday it is making significant inroads into the North American lubricants market by supplying its XTeer products for HD Hyundai XiteSolution's industrial vehicles. The strategic push by the two subsidiaries of HD Hyundai aims to secure a foothold in the lubricants market traditionally dominated by major industry players, where Korean manufacturers currently hold less than a 0.1 percent share. The refinery company
Jan. 24, 2024
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[Photo News] First Samsung experience store in India
Samsung Electronics said Wednesday that its flagship brand experience store, dubbed “Samsung BKC,” has opened at Jio World Plaza Mall in Mumbai, India. The 732-square-meter site is the first of its kind in India where visitors can experience and purchase Samsung’s latest devices. Samsung said preorders for the new Galaxy S24 series exceeded 250,000 units in three days in India -- a record for the flagship smartphone there. (Samsung Electronics)
Jan. 24, 2024
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Nongshim’s Shin Ramyun hits record sales in 2023
The nation’s No. 1 ramyeon seller, Nongshim, said Wednesday that its flagship Shin Ramyun product posted record sales of 1.21 trillion won ($903 million) in 2023, a 14 percent jump from the previous year. The feat marks the second consecutive year that product sales surpassed 1 trillion won. Shin Ramyun sold about 1.66 billion packs last year globally, which is equivalent to 53 packets sold per second, the company said. Since its launch in 1986, its cumulative sales have amounted to 17.51
Jan. 24, 2024
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[From the scene] Immersive ‘Squid Game’ challenge thrills fans in LA
LOS ANGELES -- For fans of the Netflix series "Squid Game," the "Squid Game: The Trials" immersive experience at the CBS Television lot in Los Angeles is a must-visit spot for putting their competitive spirits to the test. Spanning about 3,000 square meters, the venue features "Squid Game"-inspired games, including the dalgona, marbles and glass tiles challenges. Visitors have to pass a total of six games to become the final winner. The 70-minute gameplay is made po
Jan. 24, 2024
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Posco Holdings 2023 net tumbles 48.5% amid steel slump
South Korea's top steelmaker POSCO Holdings Inc. said Tuesday its 2023 earnings nearly halved from a year earlier amid a global industry slump. Net profit stood at 1.83 trillion won ($1.37 billion) last year, down 48.5 percent from a year earlier, the company said in a regulatory filing. Sales declined 9 percent on-year to 77.13 trillion won, with operating income falling 27.2 percent to 3.53 trillion won. POSCO Holdings' 2023 operating profit was far below a median estimate of 4.09
Jan. 23, 2024