Most Popular
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Korea added to key bond index
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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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South Korean author Han Kang wins 2024 Nobel Prize in literature
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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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Samsung family pays tribute to late founder
Samsung Group commemorated the 36th anniversary of the death of Lee Byung-chull, the founder of Korea’s largest conglomerate, in a memorial service Friday. Lee's relatives, including former Leeum Samsung Museum of Art Director Hong ra-hee, Lee's daughter-in-law, and his two granddaughters Lee Boo-jin and Lee Seo-hyun, who are presidents of Hotel Shilla and Samsung C&T, respectively, paid tribute to the late founder, gathering at Hoam Art Museum in Yongin, Gyeonggi Province. C
Nov. 17, 2023
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Prosecutors seek 5-year sentence for Samsung chief over fraud connected to 2015 merger
The prosecution on Friday demanded five years in prison for Samsung Electronics Chairman Lee Jae-yong on charges of stock price rigging and accounting fraud connected to the controversial 2015 merger of two Samsung affiliates. Prosecutors also requested a fine of 500 million won ($387,000) for Lee during the final hearing at the Seoul Central District Court. Lee is charged with stock price rigging, breach of duty and accounting fraud in the course of the controversial 2015 merger of two Samsung
Nov. 17, 2023
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KB approves of Yang Jong-hee as its new chief
KB Financial Group’s shareholders approved of Vice Chairman Yang Jong-hee's appointment as the next chairman during a special shareholders' meeting at its headquarters in Seoul on Friday. The financial group's shareholders overwhelmingly supported Yang's appointment, with 97 percent of votes in favor. "Despite various challenges in the domestic economy and financial industry, there are high expectations from shareholders for KB Financial Group. I am aware of this a
Nov. 17, 2023
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IMF raises South Korea's inflation forecast to 3.6% for 2023
The International Monetary Fund has upwardly revised its inflation forecast for South Korea to 3.6 percent for this year and 2.4 percent for next year, and advised the country to maintain its current interest rate policy to ensure price stability. In the IMF’s annual report released by the Finance Ministry on Friday, the IMF projected a 3.6 percent inflation rate for this year, which is 0.2 percentage points higher than the 3.4 percent projected in the IMF's October report. The IMF
Nov. 17, 2023
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Yoon attends IPEF summit to discuss regional economic collaboration
South Korean President Yoon Suk Yeol attended the Indo-Pacific Economic Framework summit in San Francisco on Thursday, where leaders of the 14 member countries discussed strengthening regional economic cooperation. Yoon is in the US for a three-day trip to attend the Asia-Pacific Economic Cooperation forum, and took part in other multilateral and bilateral meetings, including the IPEF summit hosted by US President Joe Biden. In 2022, the Biden administration launched the IPEF in an effort to str
Nov. 17, 2023
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LG celebrates 1st baseball championship in 29 years with discounts
LG group on Friday has kicked off promotional discounts across its affiliated companies in commemoration of its professional baseball team winning its first championship in 29 years, cutting the price in various forms related to the magic number 29. LG Twins, an affiliate of the LG Group, won Game 5 of the Korean Series against KT Wiz on Monday to clinch its first title since 1994. LG Electronics, the flagship corporation of the group, will be giving 29 percent discounts starting 10 a.m., next T
Nov. 17, 2023
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Global Kimchi Day declared
Korea Agro-Fisheries & Food Trade Corp. on Thursday declared "Global Kimchi Day" to raise awareness about the Korean staple food globally, together with Korean food buyers and foreign diplomats during the Buy Korean Food trade fair in Seoul. The state-run food trade agency, known as aT, has already celebrated Nov. 22 as Kimchi Day following a revision to the Kimchi Industry Promotion Act in February 2020. At Thursday’s event, aT vowed to seek the day’s global recognitio
Nov. 16, 2023
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LG to debut EV chargers in US next year
LG Electronics will make its official debut in the US electric vehicle charger market with its own slow and rapid charger models, the tech giant said Thursday. The company plans to roll out an 11-kilowatt charger and a 175kW fast-charging model in the US market in the first half of 2024. To meet the increasing needs of the growing EV users, the company also said it will expand its lineup of fast chargers in the second half of next year. "We will respond to the ever-increasing demand for EV
Nov. 16, 2023
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iStaging Asia eyes patents for spatial web tech
iStaging Asia, a joint venture between South Korean company I&OK and Taipei-based iStaging, said Thursday it has applied for a total of three patents in the field of three-dimensional spatial web transformation. The patents include: 3D spatial transformation from a 2D model, 3D spatial editing and 3D floor plan rendering. The technologies will enable businesses to transform their products into 3D models by simply recording a video of a product with a smartphone, which also reduces costs and ti
Nov. 16, 2023
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Chinese beer imports plunge amid Tsingtao scandal
South Korea’s beer imports from China decreased by over 40 percent last month after a hygiene incident at a Tsingtao brewery was revealed. Imports of Japanese beer products, on the other hand, increased by over 300 percent. According to data from the Korea Customs Service on Thursday, Korea’s imports of Chinese beer reached 228.1 tons in October, down 42.6 percent on-year. The import value of Chinese beer products shipped to Korea during the same period came to $1.9 million, also dow
Nov. 16, 2023
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K-water unveils new vision to tackle climate change
Korean Water Resources Corp., or K-water, on Thursday declared its new vision to be that of a “global water corporation leading solutions for climate change,” with the aim of promoting the nation’s green industry and providing people with clean water resources. On Thursday, CEO Yun Seog-dae announced the corporation’s new management principles for a “new age of water,” in response to rapid climate change, at K-water headquarters in Daejeon. As a corporation th
Nov. 16, 2023
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[Photo News] Hana chief joins 'zero waste' campaign
Hana Financial Group Chairman Ham Young-joo (center) poses for a photo as he joins a relay "zero-waste" campaign that aims to reduce the use of single-use items, such as plastic cups, at the financial giant's headquarters in Seoul on Thursday. (Hana Financial Group)
Nov. 16, 2023
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Ex-Shinhan chief tapped to lead Korea Federation of Banks
Shinhan Financial Group's former Chairman Cho Yong-byoung has emerged as the final nominee for the chairman position of the Korea Federation of Banks to head the association for the next three years. In a meeting held on Thursday, the KFB's Chairman Candidate Recommendation Committee chose Cho as the final candidate from a pool of six contenders for the position. The KFB is slated to hold a meeting on Nov. 27, bringing together representatives from 23 member companies to formally appoi
Nov. 16, 2023
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Samyang post record sales on China's Singles Day
South Korean food manufacturer Samyang Foods said Thursday it posted new record sales of 13 billion won ($10 million) on this year’s Singles Day, a Chinese shopping festival celebrated every year on Nov. 11. The figure is a jump of 39 percent from a year ago, beating the previous record high of 11 billion won in 2021. Of the total earnings, 8 billion won came through e-commerce giants Alibaba and JD, while short-video platforms Douyin -- China’s version of TikTok -- and Kuaishou as w
Nov. 16, 2023
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Food trade agency launches global low-carbon diet campaign
The Korea Agro-Fisheries & Food Trade Corp. said Wednesday it has launched a consultative body to promote low-carbon diets, against the backdrop of escalating calls to combat climate change. According to the food trade agency, the newly launched Low-carbon Diet Campaign Forum aims for the voluntary cooperation of officials from some 600 institutions -- such as major K-food buyers and international Korean organizations -- to spread low-carbon diet practices. A low-carbon diet refers to the co
Nov. 15, 2023
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SK to create world's first advanced plastic recycling cluster, breaks ground in Ulsan
South Korean chemical company SK Geocentric has started the construction of a new advanced plastic recycling cluster -- the first of its kind in the world -- in the southeastern city of Ulsan. With the new cluster, named the Ulsan Advanced Recycling Cluster, or ARC, the company aims to expand its presence in the eco-friendly plastic solution market as well as bolstering its response to escalating regulatory pressure and corporate demand for recycled plastics. The company held the ground-breaking
Nov. 15, 2023
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Posco International to build modular factory in Ukraine
Posco International announced Wednesday that the company would join Ukraine’s reconstruction, starting with setting up a factory to manufacture modules for new buildings in war-torn regions of the country. Posco International Vice Chairman Jeong Tak on Tuesday met with Vitaliy Kim, governor of Mykolaiv, in Ukraine's capital Kyiv to sign a memorandum of understanding for the construction of a modular factory in Mykolaiv, the city on the Black Sea in southern Ukraine. Modular constructi
Nov. 15, 2023
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Samsung Bioepis to develop MSD's Keytruda biosimilar
Samsung Bioepis, a biosimilar developer under Samsung Group, will embark on the development of a biosimilar candidate referencing MSD’s Keytruda (pembrolizumab), one of the best-selling drugs in the world. According to the Ministry of Food and Drug Safety on Wednesday, Samsung Bioepis has received approval for its phase 1 clinical trial of SB27, a biosimilar candidate referencing Keytruda. Samsung Bioepis is now the first Korean biosimilar company to receive approval from the government to
Nov. 15, 2023
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[Photo News] Fundraising event for students
Partners for the Future Foundation, the charitable arm of the American Chamber of Commerce in Korea, held the 16th AmCham CEO Servers' Night event, aimed at raising scholarship funds for university students from financially challenged backgrounds, on Tuesday night at the Conrad Seoul in Seoul. From left to the right: Dave Oh (fourth from left, front), country manager of Pfizer Korea, Jeffrey Jones, chairman of the American Chamber of Commerce in Korea Partners for the Future Foundation, L
Nov. 15, 2023
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BNK Busan Bank to pilot English-speaking services
BNK Busan Bank, a commercial lender based in the southern port city of Busan, will pilot English-speaking services at three branches in collaboration with the Busan city government, starting in January 2024. Special counters staffed by English-speaking personnel will be set up to cater to the needs of foreign customers. The selected branches are the lender's headquarters in Munhyeon-dong, the Haeundae Financial Center branch in Jung-dong and the Gwangandong Financial Center branch in Gwan
Nov. 15, 2023