Most Popular
-
1
Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
-
2
[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
-
3
Nicaragua shuts down Seoul embassy
-
4
Medical reform committee kicks off despite boycott from doctors
-
5
10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
-
6
Rocket engine expert, ex-NASA exec to lead Korea's new space agency
-
7
SK hynix pledges W20tr to ramp up DRAM production at home
-
8
DP leader says he will meet Yoon without conditions
-
9
Over 9,000 hotline calls made by stalking victims in 2023
-
10
[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
-
aT honored by New York Festivals for ESG efforts
The Korea Agro-Fisheries & Food Trade Corp. on Thursday said it has been recognized by the US-based New York Festivals Advertising Awards for its environmental, social and governance efforts, marking the first time a Korean government agency has won in the ESG category. The Korea Agro-Fisheries & Food Trade Corp., also known as aT, is a government agency entrusted with promoting the trade, export and marketing of Korean foods and beverages worldwide. The agency said it won the ESG manage
April 4, 2024
-
IBK Venture Investment to inject W500b into startups
IBK Venture Investment, an investment arm of the state-owned Industrial Bank of Korea, pledged to inject 500 billion won ($370 million) into local startups over the next three years at an event in Seoul on Thursday. The investment unit, the ninth subsidiary under the IBK Financial Group, was founded in December with an initial capital of 100 billion won to fund early-stage startups. It was licensed as a new technology venture capital business in March, according to the lender. While IBK Venture
April 4, 2024
-
LG Energy Solution breaks ground on $5.5b Arizona battery complex
LG Energy Solution has started construction on its second stand-alone battery manufacturing complex in the United States, located in Arizona, with a groundbreaking ceremony and stakeholder meeting on Wednesday. Announced last year, the $5.5 billion project will stand out as the first of its kind in North America, dedicated entirely to the production of cylindrical batteries for EVs and lithium iron phosphate pouch-type batteries for energy system solution applications. The company aims to comple
April 4, 2024
-
[Photo News] Promoting Korea's shipbuilding capabilities
HD Hyundai Heavy Industries on Thursday invited government officials from nine countries to observe its submarine and battleship building technologies as it hosted a delivery signing ceremony of the third Batch-1 3000t submarine Shin Chae-ho at its headquarters in Ulsan. The Korean shipbuilder said the international guests from Australia, Canada, Peru, the Philippines, Poland and the US had a closer look at not only the submarine but also at the Jeongjo the Great Aegis destroyer and the Chungnam
April 4, 2024
-
Shinhan Bank secures 10% stake in India’s Credila
Shinhan Bank, a major commercial lender in South Korea, is bolstering its footprint in India through a strategic share acquisition of the local student loan provider, Credila. The bank announced Thursday that it successfully secured an equity investment agreement with Mumbai-based HDFC Credila Financial Services the previous day. As per the agreement, Credila will undergo a capital increase, with Shinhan Bank injecting around $180 million through the acquisition of new shares. This transaction w
April 4, 2024
-
S-Oil earns certifications for SAF production
S-Oil announced Thursday that it has become the first refinery in South Korea to achieve three International Sustainability & Carbon Certification (ISCC) certificates: ISCC CORSIA, ISCC EU, and ISCC PLUS. This certification, also known as the Carbon Offsetting and Reduction Scheme for International Aviation, formally qualifies the production of sustainable aviation fuel (SAF) in the international aviation sector. The International Civil Aviation Organization (ICAO), a subsidiary body of the
April 4, 2024
-
CJ Foodville's overseas ventures propel profits to new heights
CJ Foodville, the operator of bakery chain Tous Les Jours and a subsidiary of South Korean food giant CJ Group, achieved its highest-ever operating profit of 45.3 billion won ($33.6 million) last year. Some 60 percent of the profit stemmed from overseas ventures in key markets like the United States, Indonesia and Vietnam, showcasing the firm's commitment to advancing Korean-style baked goods worldwide. CJ Foodville announced its consolidated sales for 2023 on Wednesday, totaling 844.7 bill
April 4, 2024
-
AI technology company Dabeeo wins fund from major defense investors
Spatial information firm Dabeeo has been selected for investment by Defense Innovation Technology Investment Consortium No. 1, South Korean fund for fostering future defense technology. The fund is formed by the Military Mutual Aid Association, IBK Capital, and LIG Nex1, a leading South Korean defense firm. With the investment from the fund, the total amount Dabeeo secured rose to $6 million in its recent Series B bridge round. With its selection as a Defense Innovation Company by the South Kore
April 4, 2024
-
S. Korea's beauty exports hit all-time high of $2.3b in Q1
South Korea’s exports of cosmetics jumped around 22 percent on-year to hit an all-time high in the first quarter of this year, amid the growing international popularity of Korean culture, government data showed Tuesday. According to the Korea Customs Service, the country’s exports of cosmetic products came to $2.3 billion in the January-March period, up 21.7 percent on-year from the same three-month period last year. The export figure is the highest ever for the first quarter. South
April 3, 2024
-
HD Hyundai Marine Solution ready for record IPO
HD Hyundai Marine Solution, an industry leader in ship life cycle maintenance formerly known as Hyundai Global Service, has detailed a growth framework for its stock market debut as it gears up for what is expected to be Korea's largest initial public offering in the first half of 2024. The company held a press conference on Tuesday at the company's Global Research and Development Center in Seongnam, just south of Seoul, as it prepares to join the Korea Composite Stock Price Index in M
April 3, 2024
-
How did Hyundai Motor end up becoming KT's largest shareholder?
Hyundai Motor Group has become the largest shareholder of the nation's telecom giant, KT Corp. -- a rare move that is driving speculation about the carmaker's investment strategy and the possible impacts on KT's business direction. The change came as the National Pension Service, previously the largest shareholder of KT, sold some 2.88 million shares on March 20, lowering its stake to 7.51 percent from 8.53 percent, the regulatory filing showed Tuesday. This is the first time that
April 3, 2024
-
Samsung, GS win record gas plant deals in Saudi Arabia
South Korean builders Samsung E&A and GS Engineering & Construction have secured a contract worth a combined total of $7.2 billion for the construction of a substantial gas plant in Saudi Arabia, the two companies announced Wednesday. The landmark deal represents the largest plant construction agreement secured by Korean companies in the kingdom. The two firms signed an engineering, procurement and construction contract with Aramco, Saudi Arabia's state-run oil giant, in Dhahran, Sa
April 3, 2024
-
[Photo News] LG Awards for innovation
LG Group Chairman Koo Kwang-mo (center) claps at the LG Awards ceremony, held at the LG Academy in Icheon, Gyeonggi Province, on Tuesday. The awards, launched in 2019, aim to recognize innovative technologies, products and services across LG affiliates. This year, 98 teams and 724 individuals received awards, including the life science business team at LG Chem that played a role in supplying essential infertility treatments during a supply shortage. "Customers recognize unique value when th
April 3, 2024
-
Hyundai Motor Group becomes largest shareholder of KT Corp.
Hyundai Motor Group has become the largest shareholder of a leading mobile carrier, KT Corp., the communications service provider said Tuesday in a regulatory filing. Hyundai's status as the largest shareholder, however, requires approval from the science ministry. The change came as the National Pension Service, previously the largest shareholder of KT, sold some 2.88 million shares on the day, lowering its stake in the mobile service provider to 7.51 percent from 8.53 percent, according t
April 2, 2024
-
Hanwha reaffirms will to pursue Austal takeover
South Korean Conglomerate Hanwha Group on Tuesday reaffirmed its willingness to continue pushing for a takeover of Australian shipbuilder Austal despite the latter’s earlier announcement to reject the former’s offer due to low chances of obtaining regulatory approvals. According to media reports and industry sources, the value of the acquisition offer has been estimated between 895 million and 1.02 billion Australian dollars ($581 million and $663 million). Noting Austal’s posi
April 2, 2024
-
Crypto.com makes Korean debut
Cryptocurrency exchange operator Crypto.com said Tuesday it would launch its exchange app service in Korea this month while expressing its hope for winning the regulatory nod for Korean won-based transactions soon, the company announced Tuesday. The firm said it will launch an exchange app for Korean users on April 29, enabling coin-to-coin transactions through the license earned by local exchange OK-Bit. Through the launch, Crypto.com will become the first regulated foreign player to operate a
April 2, 2024
-
Korea urged to step up incentives for chipmakers
As governments around the world fiercely compete to boost their semiconductor industries by distributing large subsidies, South Korea is pointed out as falling behind other chip powerhouses, raising concerns about the gap widening in the future. On Tuesday, the Japanese Ministry of Economy, Trade and Industry approved subsidies of up to 590 billion yen ($3.9 billion) for chip foundry venture Rapidus, adding to its promise earlier to provide funds worth some 330 billion yen into the chip project.
April 2, 2024
-
[From the Scene] LG Twin Towers refurbished to better connect with employees
LG Group’s symbolic LG Twin Towers, a landmark in Yeouido, where its major affiliates including LG Electronics are headquartered, has been transformed into modern office spaces incorporated with nature-inspired elements to create a harmonious work and life integration. When The Korea Herald reporter visited the LG Twin Towers on Monday morning, the first day of the building's completed renovation, employees seemed to have beaten the Monday blues and were filled with excitement and lau
April 2, 2024
-
Temu sets up Seoul office to tap deeper into Korean market
Chinese e-commerce platform Temu has recently established an entity for its operation in Korea, amidst Chinese platforms' broader entry into the Korean market. According to information obtained from open legal proceeding records, Pinduoduo, the parent company of Temu, formally registered a corporation named "Whale Co., Korea Limited" on Feb. 23. The purpose of corporation establishment is to engage in e-commerce and related activities. Notably, WhaleCo Inc. operates as a subsidiar
April 2, 2024
-
Hyundai Group marks 20 years of Vision Forum
Hyundai Group celebrated the 20th anniversary of its Vision Forum on Tuesday, coinciding with a special session dedicated to the 40th anniversary of Hyundai Elevator, the group announced the same day. The session featured a comprehensive 70-minute webinar by Seoul National University professor Kim Jang-woo on the evolution of high-performance system semiconductors, drawing significant participation from employees. Launched in 2005 by Hyundai Group Chair Hyun Jeong-eun, the Vision Forum was estab
April 2, 2024