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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SPC Samlip partners with Asian supermarket chain H Mart
South Korean confectionery company SPC Samlip said Thursday that it had signed a partnership with H Mart, the largest Asian supermarket chain in North America, as part of efforts to further increase its global presence. H Mart operates some 120 supermarkets in the US, Canada and the UK. In 2022, it posted 4.3 trillion won ($3.28 billion) in sales. Under the partnership, SPC Samlip will increase its supply of confectionery products to be distributed through H Mart's extensive sales network.
Nov. 9, 2023
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[Photo News] Samsung chief at pacific islands forum
Samsung Electronics Chairman Lee Jae-yong (far right) poses with Cook Islands Prime Minister Mark Brown (center) and South Korean Maritime Affairs and Fisheries Minister Cho Seung-hwan at the Pacific Islands Forum held on the Cook Islands in the South Pacific Ocean, Wednesday. The Samsung chief also met with Fiji Prime Minister Sitiveni Rabuka during the event. Lee promoted the tech giant’s corporate social responsibility program and Busan’s bid to host the 2030 World Expo, according
Nov. 9, 2023
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Global minimum corporate tax to take effect in Korea next year
Starting from 2024, multinational companies such as Samsung Electronics and SK hynix, which have overseas factories or subsidiaries, are expected to face increased tax obligations. The Ministry of Economy and Finance announced Thursday that a new law to implement the global minimum corporate tax -- which will require multinational enterprises to adhere to a minimum effective tax rate of 15 percent -- will begin as early as January 2024. Until Dec. 7, the administrative authorities will gather p
Nov. 9, 2023
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Woori Bank's new app to offer multilingual assistance
South Korean commercial bank Woori Bank said Thursday that it has launched an updated mobile banking service for foreigners residing in Korea, “Woori WON Global,” that is available in up to 17 languages. While foreigners in Korea find it difficult to use mobile banking services, Woori Bank offers more quick, easy and convenient options to the customers, the bank said. With a total of 17 languages, Woori Bank’s new service boasts the largest number of foreign language options am
Nov. 9, 2023
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AI in your pocket: Samsung Galaxy S to feature real-time phone call translator
Samsung Electronics’ flagship Galaxy S smartphones will offer a real-time translation function for phone calls, the tech giant said Thursday. The surprise announcement comes a day after it unveiled Samsung Gauss, its own generative AI model, which will make its commercial debut on the upcoming Galaxy S phones in 2024, possibly the Galaxy S24 series. With a vision to open a “new era of AI” for mobile devices, Samsung said it will be introducing Galaxy AI for its smartphones to
Nov. 9, 2023
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Doosan Bobcat to build $300m loader plant in Mexico
Korean construction equipment maker Doosan Bobcat said Wednesday it will build a production base worth $300 million in Monterrey, Mexico, situated close to the US-Mexico border, to boost supply chain efficiency and cater to the increased post-pandemic demand within North America. With operations expected to commence in early 2026, the new Monterrey plant is projected to increase Doosan Bobcat's loader production capacity in North America by 20 percent. Specifically, the 65,000 square meter
Nov. 8, 2023
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[Contribution] Middle East, opportunity for Korean smart farming firms
The State of Qatar, also known as the pearl of the Arabian Peninsula, is a small nation with a population of 3 million and a total land area spanning only one-tenth of South Korea. However, Qatar has emerged as a hub of diplomacy, culture and education in the Middle East, and is growing as a soft power leader. With the 2023 Doha Expo 2023, the first A1 International Horticulture Exhibition, being held under a desert climate, the world is paying attention again to Qatar which was in the spotlig
Nov. 8, 2023
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Coupang logs record Q3 earnings, stays in black for 5th straight quarter
South Korean e-commerce giant Coupang announced record third quarter earnings amid an increase in its customer numbers and the strong performance of its core businesses. Coupang has continued its winning streak for five consecutive quarters since reporting profits for the first time in 2022. According to the New York-listed company's earnings conference call Wednesday, the company's quarterly sales for the July-September period logged $6.18 billion, posting on-year growth of 21 percent
Nov. 8, 2023
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Hyundai Mobis raises $940m in green loan for EV parts plants in US
Hyundai Mobis, a South Korean auto parts manufacturer, said Wednesday it has secured a $940 million green loan for the construction of electrification parts plants in North America, marking the company's first overseas foray into sustainable mobility financing. It finalized the funding from seven international financial institutions, leveraging a long-term 10-year maturity period and low-interest rates supported by a credit guarantee from the Korea Trade Insurance Corp. Such financing mecha
Nov. 8, 2023
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Samsung Electronics unveils own generative AI, Samsung Gauss
Samsung Electronics on Wednesday debuted its own generative artificial intelligence model, dubbed Samsung Gauss, renewing competition with its archrival Apple and other tech giants in the burgeoning AI market. The world’s largest smartphone maker by shipments also hinted that the new AI chatbot will power its upcoming Galaxy smartphone, possibly the Galaxy S24 in 2024. "We will continue to support and collaborate with the industry and academia on generative AI research," said Kim
Nov. 8, 2023
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Kakao Bank logs record-high net profit
Kakao Bank, an internet-only bank, announced Wednesday that it achieved a record-high net profit of 279.3 billion won ($214.12 million) during the first three quarters of the year, thanks to increased lending to borrowers attracted by its low interest rates. This represents a 37.9 percent increase from 202.5 billion won it recorded during the same period a year ago. "We pursued sustainable growth through balanced deposits and loans in the third quarter, along with stable risk management,&rd
Nov. 8, 2023
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Hyundai Elevator showcases smart lifts at trade expo
Hyundai Elevator is showcasing its cutting-edge elevator technology for smart cities and its latest urban air mobility vision at this week’s International Lift Expo Korea held at Kintex in Goyang, Gyeonggi Province. From Wednesday to Friday, Hyundai Elevator will present its vertical mobility system and smart elevator solution, dubbed Maintenance Innovation & Real-time Information (MIRI) service, at an exhibition booth. “The elevator industry today is facing unprecedented chang
Nov. 8, 2023
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Citibank Korea hosts SBTi seminar on ESG managment
Citibank Korea said Wednesday that it hosted a seminar for corporate clients to inform them about the procedures for gaining approval from the Science Based Targets initiative, a global climate organization, for their carbon reduction targets. The SBTi, jointly founded in 2015 by the World Wide Fund for Nature, the Carbon Disclosure Project and the United Nations Global Compact, defines and provides science-based international standards to verify the objectivity of carbon emission targets in bus
Nov. 8, 2023
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Posco's charity foundation supports 300,000 people
South Korean steelmaker Posco on Wednesday held a 10th-anniversary ceremony of its social outreach foundation called "Posco 1 percent Foundation," to reflect on its outcomes over the past decade and to honor those who made outstanding contributions to the campaign. The foundation has been run by voluntary participation of its employees and executives who donate 1 percent of their wages which is then used to organize social outreach programs both at home and abroad to support underpri
Nov. 8, 2023
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Nexon boasts IP leadership with latest titles
South Korean game developer and publisher Nexon has proved its global competitiveness in intellectual property through the two latest original titles -- Dave the Diver and Wars of Prasia. Shortly after its global release on June 28, the adventure video game Dave the Diver topped the July weekly sales chart on Steam, the US-based PC game distribution platform. It was also introduced and recommended by several major media outlets, including The Washington Post. As of September, the game's cum
Nov. 8, 2023
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Celltrion posts record earnings in Q3, buoyed by upbeat biosimilar sales
South Korean biopharmaceutical giant Celltrion said Tuesday it posted record earnings in the third quarter, largely buoyed by upbeat sales of biosimilar products and solid contract manufacturing orders. Celltrion's revenue in the July-September period climbed 4.1 percent on-year to 672.3 billion won ($514 million). Operating profit also went up by 25.2 percent to 267.6 billion won during the same period, while the operating margin came to 39.8 percent. Celltrion said sales of the company&rs
Nov. 7, 2023
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[Photo News] Korea-China mutual growth
Sohn Kyung-shik (left), the CJ Group chairman who doubles as chairman of the Korea Enterprises Federation, poses with China Center for International Economic Exchanges Executive Vice Chairman Bi Jinquan at the headquarters of the Chinese think tank in Beijing, Tuesday. During his three-day visit to China that started Monday, Sohn held a series of meetings with high-level officials of major business groups and research centers in Beijing to discuss ways to bolster economic cooperation between t
Nov. 7, 2023
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LX International to acquire 60% stake in Indonesian nickel mine
LX International, the trading arm of South Korea's LX Group, said Tuesday it will buy a major stake in a nickel mine in Indonesia as it pushes to expand its resources business. The company's board of directors has approved an agenda to invest 133 billion won ($101.6 million) to acquire a 60 percent stake in the Adhi Kartiko Pratama, or AKP, mine and secure its management rights. The acquisition will be LX's first nickel mine investment in the Southeast Asian country. Located near
Nov. 7, 2023
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Kyobo Life chairman wins top industry honor
Kyobo Life Insurance Chairman and CEO Shin Chang-jae has been awarded the 2023 Insurance Hall of Fame Laureate award from the International Insurance Society, one of the insurance industry’s top honors. The awarding ceremony was held during the gala event of the Global Insurance Forum in Singapore on Monday. “Shin embodied the spirit of the Insurance Hall of Fame through innovative activities, insightful leadership and people-centered management,” said Josh Landau, CEO of the
Nov. 7, 2023
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Spending on overseas tourism rises by most in 13 years
Korean tourists' total spending on overseas group tours posted the sharpest increase last month in 13 years, according to Statistics Korea on Tuesday, mainly due to rises in accommodation and flight costs. Consumer prices for overseas group tours in October showed a 15.9 percent increase from the same month last year, data from the Korean Statistical Information Service showed. Although the figure has been on a constant rise in recent months, advancing from 5.7 percent in August to 12.6 per
Nov. 7, 2023