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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Kakao proposes tackling illegal content distribution with Japanese counterparts
Kakao Entertainment, a content arm under Korea’s IT giant Kakao Corp., said Friday that it proposed Japan's manga industry take joint legal action to tackle illegal distribution of webtoons and web novels. In the latest exchange session jointly held by Korea’s Copyright Overseas Promotion Association (COA), an organization of major Korean content companies for overseas copyright protection, and Japan’s Content Overseas Distribution Association (CODA), a leading Japanese
Dec. 1, 2023
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S. Korea's exports increase for two consecutive months on chip sales recovery
South Korea's exports rose for the second consecutive month in November as semiconductor shipments rebounded, government data showed Friday. According to data released by the Ministry of Trade, Industry and Energy, South Korea’s exports rose 7.8 percent on-year to $55.8 billion in November. The country’s exports in November are currently the highest this year, surpassing the figure in October when the country’s exports saw a 13-month downturn and increased by 5.1 percent
Dec. 1, 2023
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SK chief suggests Korean, Japanese businesses form ‘union’ to overcome global crisis
SK Group Chair Chey Tae-won suggested that South Korean and Japanese business circles form a "union" to handle the global economic crisis triggered by geopolitical conflicts and division, speaking at a forum in Japan on Thursday. "The era of a single global market has passed due to geopolitical conflicts, climate change and digital transformation," said Chey, who doubles as the head of the Korea Chamber of Commerce and Industry, in his opening speech at the Tokyo Forum 2023
Dec. 1, 2023
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KAI, SpaceX to launch Korea's next-gen satelllites in 2025
Korea Aerospace Industries announced Friday that it has inked an agreement with US space firm SpaceX to launch South Korea's next-generation mid-sized satellite No. 2 into orbit in 2025. With the latest deal, KAI has entered a second partnership with SpaceX following a similar agreement signed in July 2021 to launch the next-generation mid-sized satellite No. 4. Under the agreement, both No. 2 and No. 4 satellites will be mounted on Space X’s Falcon 9 rocket for launch into space orbi
Dec. 1, 2023
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LG Energy Solution CEO emphasizes qualitative growth
Kim Dong-myung, the newly appointed CEO of South Korean battery giant LG Energy Solution, on Friday vowed to execute winning strategies to lead qualitative growth and create a professional culture aimed at achievement. “If the past three years were the era of LG Energy Solution 1.0 where we laid the foundation for quantitative growth and business, now is the time to make the era of LG Energy Solution 2.0 that results in qualitative growth by securing a dominant upper hand among the competi
Dec. 1, 2023
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Toss Bank logs first quarterly profit
Toss Bank, a Korean internet-only bank, saw its first quarterly profit in the third quarter. The company on Thursday announced it logged a net profit of 8.6 billion won ($6.65 million) in the third quarter, shifting from a net loss of 10.5 billion won the previous term. This marked the first time the company posted a quarterly profit since its launch in October 2021. The company attributed the growth to increased interest revenue during the pandemic when mobile banking services saw an influx of
Nov. 30, 2023
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KITA holds sourcing fair to support exporters
The Korea International Trade Association held the Korea Grand Sourcing Fair 2023 at Coex in southern Seoul on Wednesday and Thursday as part of its efforts to help domestic exporters enter overseas markets. According to KITA, this year’s event was attended by 152 buyers from 26 countries, who conducted more than 2,300 consultations with nearly 800 Korean companies. In particular, the proportion of buyers from the US, Vietnam, India, China and Japan, all key export markets, made up more th
Nov. 30, 2023
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Celltrion's Zymfentra to make US debut in February
Celltrion Healthcare, Celltrion Group's sales arm, announced Thursday that the company’s autoimmune disease treatment Zymfentra will make its debut in the US market on Feb. 29 next year. Zymfentra, which is also known as Remsima SC, is a subcutaneous injection formulation of Celltrion's infliximab Remsima, a treatment for patients with rheumatoid arthritis, Crohn’s disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis and psoriasis in adult patients. Zymf
Nov. 30, 2023
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Corning appoints company veteran as new Korea head
US tech giant Corning Inc. said Thursday that it had appointed Vaughn Hall, its international vice president, as the president of Corning’s Korea Region and Corning Precision Materials. Starting his career at Corning in 1995 as a senior engineer in the company's Harrodsburg plant in Kentucky, Hall has served a number of leadership roles in production management of the company's glass business in the US and Asia, including Japan, Taiwan and China. "As we celebrate 50 years in
Nov. 30, 2023
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[Herald Interview] Samyang CEO envisions elevating K-food as global cultural content
In the journey to establishing Samyang Roundsquare's global presence with its ramyeon products, CEO Kim Jung-soo has played a pivotal role. Taking on the position of CEO in September, Kim has been a key figure in the family-owned Samyang Group's leadership since 2017, being the daughter-in-law of Samyang Foods' founder, Chun Joong-yoon. Kim envisions the global market growth not merely as a culinary delight but as a cultural phenomenon extending beyond food. For example, the "
Nov. 30, 2023
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Spicing up the world: Samyang’s Buldak series makes global waves
South Korean food giant Samyang Roundsquare, under the leadership of CEO Kim Jung-soo, has been avidly pursuing its global market strategy, particularly focusing on key regions such as China and the US. With China contributing to 35 percent of overseas sales, the company is intensifying efforts to expand to the US, Europe and Southeast Asia, identified as the next growth drivers. During China's Singles Day shopping festival from late October to November, Samyang Roundsquare reached record s
Nov. 30, 2023
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[Global Finance Awards] Kyobo's new child insurance plan offers lifetime coverage
Kyobo Life Insurance, one of Korea's leading life insurers, has launched a cost-effective renewable child insurance product that provides lifetime coverage starting from the prenatal period to facilitate the healthy growth of children. The new plan offers tailored protection against major health conditions and diseases throughout one’s life cycle from pregnancy and childbirth to adolescence. Upon turning 30, subscribers can transition to adult coverage, renewing the period up to the a
Nov. 30, 2023
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[Global Finance Awards] Woori ramps up global foray to become Asia’s leading bank
Buoyed by its rapidly expanding global presence, Woori Bank has vowed to achieve up to 25 percent of its net profit from overseas sales by 2030. As of November, Woori runs 469 global branches across 24 countries. Its global division logged an annual asset growth of 9 percent over the last three years, reporting a net profit of $340 million in 2022. To continue the upward trend, it plans to pour resources into its three units in the burgeoning Southeast Asian market -- Indonesia, Vietnam and Ca
Nov. 30, 2023
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[Global Finance Awards] Kakao Bank at forefront of inclusive finance
Kakao Bank, Korea’s largest internet-only bank, has been leading efforts to achieve financial inclusivity in the industry, by developing various customer-friendly products and services. Since its founding in 2017, it has been catering to diverse financial needs by rolling out innovative savings accounts such as group savings accounts, 26-week and one-month installment deposit accounts, as well as tailored loan products for those with low credit scores. Buoyed by its user-friendliness and
Nov. 30, 2023
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[Global Finance Awards] JB Financial shapes future of digital banking
JB Financial Group has accelerated its digital transformation efforts to bring more convenient options to a broader customer base by seeking innovative collaboration projects. Under the leadership of Kim Ki-hong, the group's chairman, the group has achieved record earnings over the past few years. To further expand its presence in the market and customer base, the banking group also tapped into the fintech and online banking industries. In July, it inked a partnership agreement with Seoul-b
Nov. 30, 2023
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GS Group carries out largest executive reshuffle
GS Group, the South Korean energy, retail and construction conglomerate, on Wednesday said it promoted 50 executives across its affiliates, the most the group has carried out in its annual reshuffle since its establishment in 2005. The promotions include Kim Seong-min, new CEO at GS Caltex, Yoo Jae-young, CEO of GS Power, and Cheong Yong-han, CEO of GS Entec. Kim, along with Hur Sae-hong, the incumbent CEO of GS Caltex, will serve as independent heads of the oil refiner. GS Group last month appo
Nov. 29, 2023
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Corporate Korea explores new opportunities in Expo bid
Despite Busan’s disappointing loss in its bid to host the 2030 World Expo, Korea's economic circle viewed its rallying efforts in the past year and a half as having "expanded the horizon" for companies with new opportunities in the global market. Saudi Arabia's Riyadh was chosen to host the World Expo in 2030 on Tuesday, garnering 119 votes out of 165 in a secret ballot held during the Bureau International des Expositions general assembly in Paris. Busan and Rome were k
Nov. 29, 2023
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SK Bioscience to supply Novavax’s new COVID-19 vaccine in Korea
SK Bioscience announced Wednesday that the company would supply Novavax's updated COVID-19 vaccine in South Korea, as part of the government’s winter vaccine program running early next year. SK Bioscience's announcement was made after the Ministry of Food and Drug Safety of South Korea gave emergency use authorization for the Novavax COVID-19 vaccine earlier in the day. The Korean government’s approval marks the third of its kind for Novavax’s protein-based updated CO
Nov. 29, 2023
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Posco completes Korea’s first lithium hydroxide plant
Posco Holdings said Wednesday that the steel giant has completed the construction of the country’s first lithium hydroxide factory, a move to strengthen its competitiveness in the global lithium race. The new facility is located within the Yulchon Industrial Complex in Suncheon, South Jeolla Province. The plant can annually produce 21,500 metric tons of lithium hydroxide, one of the key components used for batteries for electric vehicles. The plant is owned by Posco-Pilbara Lithium Solutio
Nov. 29, 2023
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Hyundai Elevator, Erbud team up to rebuild Ukraine
Hyundai Elevator has joined hands with Erbud, the third-largest constructor in Poland, to cooperate on a reconstruction project in Ukraine, the Korean company said Wednesday. Hyundai Elevator and Erbud signed a memorandum of understanding in Warsaw, Poland, on Tuesday. The signing ceremony was attended by Hyundai Elevator’s Managing Director of Global Sales Division Cho Cheol-ho, Erbud’s Vice President Jacek Leczkowski and other company officials. Erbud specializes in commercial and
Nov. 29, 2023