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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[NCSI] Korea outranks US, Japan, Singapore in consumer satisfaction
South Korean customers were more satisfied with their goods and services in 2023, compared to those in the US, Japan and Singapore, according to the National Consumer Satisfaction Index published annually by the Korea Productivity Center. The index is not only a measure of consumer satisfaction, but an indicator of the economic performance of companies, government agencies and the economy as a whole. Similar standards have been adopted by over 30 countries worldwide, which use the same metrics t
Jan. 4, 2024
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SK Ecoplant to showcase net-zero solutions at CES
South Korean energy and environmental solutions provider SK Ecoplant said Thursday that the company would take part in CES 2024, the world's largest consumer electronics and technology trade show, to showcase its net-zero solutions with other SK companies. SK Group plans to operate a 1,850-square-meter exhibition booth during the CES in Las Vegas next week, with seven affiliates joining. SK Ecoplant will introduce its low-carbon construction materials, including glass fiber-reinforced polym
Jan. 4, 2024
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After yearslong legal battle, Hahn & Co. secures control over Namyang Dairy
Hahn & Co., the nation's largest private equity firm based on assets under management, secured control over Namyang Dairy Product on Thursday, following years of legal disputes. The Supreme Court sided with Hahn & Co., ordering Namyang Dairy Product Chairman Hong Won-sik and his family members to hand over their 53.08 percent stake in the company to the private equity firm. With the court decision, the equity manager is to become the dairy firm's largest shareholder, while the
Jan. 4, 2024
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Samsung, Hyundai Motor to boost home-car connectivity
South Korea's top makers of chips and cars, Samsung Electronics and Hyundai Motor Group, are joining hands for heightened connectivity by integrating their smart home and connective car solutions, the companies said Thursday. In a signing ceremony on Wednesday, the two sides agreed to expand Samsung's SmartThings platform to support Hyundai Motor and Kia's connected cars, including electric vehicles. The goal of their partnership is to develop "Home-to-Car" and "C
Jan. 4, 2024
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LG, West Virginia to collaborate on tech ventures
LG Electronics’ North American Innovation Center, also known as LG Nova, has forged a strategic partnership with the US state of West Virginia to advance technologies for renewable energy, health care and other future industries, the Korean tech giant said Thursday. The two entities agreed to form an impact fund dubbed the Nova West Virginia Investment Fund to channel $700 million in project investment into the state over the next five years and grow related businesses. The businesses deve
Jan. 4, 2024
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Ceragem to make CES debut next week
South Korean health care solutions provider Ceragem said Wednesday it will make its debut at the upcoming CES 2024, slated for next week in Las Vegas, to strengthen global partnerships and unveil the latest version of its flagship therapeutic thermal massager. In a 330-square-meter exhibition booth, Ceragem will present its Master V9, equipped with an upgraded massage module -- massage rollers -- as well as a reclining-back function. Besides the massager, Ceragem will also present new health car
Jan. 4, 2024
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Ex-Samsung employee indicted for alleged chip tech leak to Chinese firm
Prosecutors indicted a former employee of Samsung Electronics on Wednesday on charges of leaking key semiconductor technologies of the tech giant to a Chinese company in return for money, officials said. The Seoul Central District Prosecutors Office indicted the employee surnamed Kim, who formerly served as a department head at Samsung, under physical detention on charges of violating the industrial technology protection law, prosecution officials said. Kim is accused of having stolen Samsung&
Jan. 3, 2024
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[KH explains] How young are ‘young’ CEOs in Korea?
“Generational shift” has long been a buzz phrase in the year-end leadership reshuffle at Corporate Korea for years. 2023 was no exception. The nation’s conglomerates, especially the top four, have touted having promoted younger executives to breathe fresh air into somewhat rigid operations and prepare for the next growth drivers in the ever-evolving business environment. Many of the CEOs in their 60s stepped down to be replaced by those in their 50s, while managers in their 40s
Jan. 3, 2024
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[Photo News] Donation for future generation
Mirae Asset Financial Group Chairman Park Hyeon-joo (left) poses for a photo after agreeing to donate 25 percent of his stake in Mirae Asset Consulting to the group's charitable entity, Mirae Asset Hope Foundation, during a ceremony in central Seoul on Dec. 26, 2023. Aiming to give back to society, the Mirae chief plans to donate more shares in Mirae Asset Capital and Mirae Asset Global Investments to the charity in phases. (Mirae Asset Global Investments)
Jan. 3, 2024
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Koreans flock to airports, malls during New Year's holiday: GPS data
Incheon International Airport and Starfield shopping malls were the top two destinations searched for on GPS app T Mobility, during the three-day New Year's holiday, the app’s operator said Wednesday. The big data analysis confirms a preference for either overseas vacations or shopping at mega malls during the holidays. From Dec. 30 to Jan. 1, T Map Mobility recorded 33,856 GPS-based routing requests from users heading to Incheon International Airport Terminal 1. Combined with reque
Jan. 3, 2024
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Samsung's AI-powered Galaxy S24 to debut this month
Samsung Electronics will unveil the Galaxy S24 series featuring the company’s latest artificial intelligence model in Silicon Valley -- the home turf of its archrival, Apple -- this month. Releasing the official invitation on Wednesday, the world’s largest smartphone maker said it will hold the Unpacked event for its flagship smartphone series in San Jose on Jan. 17. The company said it will be “opening a new era of mobile AI” with the latest smartphone series. “A
Jan. 3, 2024
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KFCC partners with Google for Fiji launch
The Korean Federation of Community Credit Cooperatives, the nation's primary mutual financial institution, also known as Saemaul Geumgo, held a capacity-building workshop ahead of opening its first branch in Fiji. Ten visitors, including government officials and villagers, from Fiji flew in for the workshop, which was held for 10 days in December at the MG Human Resources Development Institute in Cheonan, South Chungcheong Province. Held as part of the South Korean Interior Ministry's
Jan. 2, 2024
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Hahn & Co. completes sale of SK Eco Prime
Hahn & Company, the nation's largest private equity firm based on assets under management, said Tuesday that it has completed the sale of SK Eco Prime, a leading biodiesel manufacturer, to Hillhouse Capital, a global equity manager based in Singapore. The company declined to reveal the deal size, but the acquisition is estimated to have been made at between 400 to 500 billion won ($306 to 382 million), according to news reports. Hahn & Co. acquired SK Chemical's bioenergy divis
Jan. 2, 2024
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Battery, new energy sectors to feel pinch from global minimum tax
Hundreds of South Korean firms, including tech giant Samsung Electronics, are set to be hit by the newly implemented 15 percent global minimum tax rate. Under the new corporate tax rule that came into effect Monday, multinational enterprises with a consolidated revenue of over 750 million euros ($827 million) are subject to an effective tax rate of 15 percent on their profits in every jurisdiction where they operate. The global minimum corporate tax system was agreed upon by the Organization for
Jan. 2, 2024
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Mirae Asset chief to donate shares to charity
Mirae Asset Financial Group Chairman Park Hyeon-joo has decided to donate 25 percent of his stake in Mirae Asset Consulting to the group's charity foundation in phases, the company said Tuesday. The stock will be gifted to the Mirae Asset Hope Foundation, a charitable entity established in 1998 to nurture and help the younger generation, from college students to children and teenagers, to gain a foothold in society via scholarships and improved education infrastructure. “I hope this d
Jan. 2, 2024
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2024 set to be another profitable year for top 4 financial groups
South Korea's top four financial groups -- KB, Shinhan, Hana and Woori -- are expected to post a combined net profit of over 17 trillion won ($13 billion) this year, buoyed by their moneylending business, according to market tracker FnGuide. While the four firms posted an estimated net profit of 16.55 trillion won last year, the projected figure for this year is 17.23 trillion won, marking a 4.1 percent growth on-year. Securities firms predicted KB Financial Group to garner a net profit of
Jan. 2, 2024
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CJ eyes global expansion for K-street food products
Korean food giant CJ CheilJedang's Bibigo brand has set a target of 35 billion won ($26 million) in domestic sales this year for its K-street food products, after observing considerable sales momentum in the market in 2023, according to the firm on Tuesday. Among Bibigo's K-street food offerings, its bungeoppang products, or fish-shaped waffles, achieved monthly domestic sales of 1 billion won for both November and December. Launched in August, the bungeoppang series currently boasts r
Jan. 2, 2024
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Korean flag error sparks outrage after french news broadcast
French news outlet La Chaine Info sparked outrage among Koreans by broadcasting picture of the South Korean national flag with a red circle instead of the distinctive "taegeuk" mark at its center. The incorrect flag appeared in a visual aid used by the news presenter Sunday during a segment discussing North Korean leader Kim Jong-un's provocative remarks about war against South Korea, made during a meeting with high-ranking officers. The error was particularly concerning to many
Jan. 2, 2024
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[KH explains] Nexon’s failed stake sale reignites dispute over ‘punitive’ inheritance tax
Controversy over South Korea's high inheritance tax has resurfaced as the government failed again in its tender offer to sell a 4.7-trillion-won ($3.62 billion) stake in NXC, a holding firm of the nation's largest game developer, Nexon. The open bid, hosted by the Korea Asset Management Corp., to sell the Finance Ministry's 29.3 percent stake, or 852,000 shares, in NXC ended in another failure, according to Kamco's auction site Onbid on Friday, with no offers being made. Th
Jan. 1, 2024
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SK chief vows management overhaul in 2024
SK Group Chairman Chey Tae-won vowed in his New Year's message Monday to review and reorganize the management system of the nation's second-largest conglomerate to better handle challenges in 2024. "A loose 'geomungo' (a six-string Korean zither) can only produce the right notes if the strings are untangled and re-tensioned,” Chey said in the message sent to all executives and staff of SK Group affiliates via email. "Let's all review and refine our manage
Jan. 1, 2024