[Photo News] Kia Sportage in Squid Game style

Kia is bringing the excitement of "Squid Game" Season 2 to its new Sportage launch with an interactive campaign. A teaser video released last Thursday has revealed the Sportage alongside iconic pink guards of "Squid Game," while a special pop-up showroom in Seoul from Nov. 15 to 24 lets fans dive into the experience firsthand. Visitors can join a scavenger hunt, explore themed rooms and get hands-on with the SUV. (Kia)

Nov. 11, 2024

LG eyes footing in aerospace with possible SpaceX deal

LG Energy Solution has reportedly forged a deal with Elon Musk’s SpaceX to supply its cylindrical lithium-ion batteries, further strengthening its partnership with Tesla and advancing its footprint to the global aerospace sector. According to industry sources on Monday, the Korean battery-maker has started developing batteries for the power supply units of SpaceX’s next-generation Starship launch vehicle, the world's first reusable rocket, as soon as next year. This marks SpaceX

Nov. 11, 2024

Seoul shares fall over 1% on chip slump amid US uncertainties

South Korean shares declined more than 1 percent Monday as Samsung Electronics fell to an over two-year low amid rising uncertainties over the new Trump administration's trade policies. The local currency sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 29.49 points, or 1.15 percent, to close at 2,531.66, following a 0.14 percent drop on Friday. Trade volume was heavy at 565.2 million shares worth 11.1 trillion won ($7.96 billion), with losers far out

Nov. 11, 2024

[Photo News] Bitcoin hits new high

A screen shows bitcoin trading at over $80,000 at local crypto exchange Upbit's headquarters in southern Seoul, Monday morning. The price of bitcoin hit an all-time high, marking a nearly 17 percent rise over the past week. Bitcoin traded as high as $81,784 on Upbit, as of press time. The recent surge was largely driven by US President-elect Donald Trump's victory, after he stressed his will to ease crypto-related regulations. (Lim Se-jun/The Korea Herald).

Nov. 11, 2024

[Photo News] Sharing love with kimchi

Hana Financial Group Chair Ham Young-joo (fourth from left) and other company executives join a "gimjang" or kimchi-making event at the group's headquarters in Seoul on Monday as part of the 2024 Modu Hana Day campaign. Some 300 people, including representatives of Hana's partner firms, participated in the annual event to donate 11,111 heads of kimchi to disadvantaged households. (Hana Financial Group)

Nov. 11, 2024

Young Poong's violations cast doubt on Korea Zinc bid

Young Poong, the world’s sixth-largest zinc smelter, has been ordered to close down its refinery facility for two months for discharging polluted wastewater without authorization, posing a possible setback in its attempt to take ownership control of Korea Zinc, its affiliate and the world’s largest zinc producer. Earlier this month, the Supreme Court dismissed Young Poong’s request to nullify an administrative order to shut down its Seokpo refinery in North Gyeongsang Provinc

Nov. 11, 2024

Hyundai Motor plays down missed IRA incentives for Georgia plant

Hyundai Motor has missed out on the United States tax incentives for its new $7.6-billion manufacturing plant -- Hyundai Motor Group Metaplant America -- in Bryan County, Georgia, but said the credit did not affect its investment in the plant. According to industry sources Monday, Hyundai Motor did not make the list of companies that will receive tax incentives in the second round allocations of the Qualifying Advanced Energy Project Credit, or 48C, which is an allocated tax credit funded by Pre

Nov. 11, 2024

Daewoo E&C chairman discusses expansion plans in Turkmenistan

South Korean builder Daewoo Engineering & Construction said Monday that Chairman Jung Won-ju recently visited Turkmenistan to attend CIET2024, an annual event focusing on the country’s construction, industrial and energy sectors. During the event, which took place in the capital Ashgabat from Nov. 3 to Nov. 5, Jung met with key officials to discuss Daewoo’s plans for local business growth, building on the company’s recent win of a mineral fertilizer plant project in Turkmen

Nov. 11, 2024

KT&G pledges to up shareholder returns

South Korea's top tobacco company KT&G unveiled a new program designed to enhance its corporate value, primarily focused on increasing shareholder returns, Monday. The program centers on improving profitability, optimizing asset efficiency and streamlining financial operations to reach a return-on-equity target of 15 percent by 2027. To drive profitability, KT&G will focus on its three core business areas: overseas cigarette sales, next-generation products and healthy functional foo

Nov. 11, 2024

[Herald Interview] JobKorea’s Klik brings jobs, community to growing foreign workforce in Korea

As Korea’s foreign workforce nears the 1 million mark, JobKorea, the nation’s leading online recruitment platform, has launched the spinoff Klik, or Kickstart Life in Korea, to bring quality jobs and community to foreign national job seekers. Chris Heo, a 33-year-old Canadian national who leads the Klik team, said that the platform’s birth was largely inspired by his own experiences and challenges as a foreign national living in Korea. “I’ve struggled with complex a

Nov. 11, 2024

SK to enhance board's role in readiness for AI era

South Korea’s second-largest conglomerate SK Group announced Monday its commitment to further enhance its governance structure by expanding the board's role beyond decision-making to setting directions and evaluating performance, intent to better navigate the era of artificial intelligence. At SK Directors’ Summit 2024 in Seoul on Thursday, SK Group Chairman Chey Tae-won and chief executives of the group’s affiliates, including Choi Chang-won, the head of the group’s

Nov. 11, 2024

Yoon govt. maintains 'stable' macroeconomic management in first half: finance ministry

The Yoon government has successfully maintained stable macroeconomic conditions to mitigate the impact of multiple global crises, the finance ministry said Monday, highlighting the success of the Yoon Suk Yeol administration's economic and fiscal policies over the past 2 1/2 years. The review was presented in a report issued by the Ministry of Economy and Finance to mark the midpoint of President Yoon's single five-year term, which fell on Sunday. "From the start of the administ

Nov. 11, 2024

Exports fall 18% in Nov. 1-10 period despite strong chip sales

South Korea's exports slid 17.8 percent on-year in the first 10 days of November due mainly to fewer working days and falling demand from major economies, data showed Monday. Outbound shipments reached $14.91 billion in the Nov. 1-10 period, compared with $18.13 billion tallied a year earlier, according to the data from the Korea Customs Service. The number of working days during the cited period of this year came to 7 days, compared with 8.5 days a year earlier. Per-day exports only slippe

Nov. 11, 2024

Seoul shares open lower on Trump uncertainties

South Korean stocks opened lower on Monday, as investors sat on the sidelines over policy uncertainties under the incoming Trump administration. The benchmark Korea Composite Stock Price Index fell 12.6 points, or 0.49 percent, to 2,548.55 in the first 15 minutes of trading. In Seoul, top tech giant Samsung Electronics moved down 2.11 percent, and No. 2 chipmaker SK hynix shed 1.8 percent. Top battery maker LG Energy Solution, on the other hand, increased 8.91 percent. Top steelmaker Posco Holdi

Nov. 11, 2024

Korean shipbuilders upbeat on Trump’s call for collaboration

Korean shipbuilders are raising hopes to expand their presence in the US, following President-elect Donald Trump’s call for more bilateral cooperation in the shipbuilding sector. According to Seoul’s presidential office, President Yoon Suk Yeol and Trump had a 12-minute phone call Thursday morning after Trump won a second nonconsecutive presidential term. After exchanges of congratulations and gratitude, Trump specifically mentioned Korea’s shipbuilding capabilities and the US&

Nov. 10, 2024

LG Display unveils world's most stretchable display

South Korean display maker LG Display announced Sunday it succeeded in developing the world’s first stretchable display capable of expanding up to 50 percent, the highest elongation rate within the industry. The latest breakthrough, the outcome of five years of research, was unveiled during an industrial gathering at LG Science Park in Seoul on Friday. LG's new prototype features a 12-inch screen that stretches up to 18 inches while delivering a high resolution of 100 pixels per inch

Nov. 10, 2024

Chubby banana milk bottle eyes national heritage listing

For over half a century, yellow banana-flavored milk has held a special place in Korean culture, gracing supermarket shelves as a nostalgic favorite across generations. Now, its maker, Binggrae Co., aims to elevate the beloved drink’s status even further. The Korean dairy maker said Sunday that it is launching an effort to have the chubby shape of its top-selling drink’s bottle included on the state-registered cultural heritage list. It is currently gathering data to apply for elig

Nov. 10, 2024

Loans from high-interest second-tier lenders soar amid tight lending rules

Loans from savings banks, credit unions and other secondary financial institutions rose sharply last month as authorities tightened credit regulations for major banks, officials said Sunday. Loans from savings banks, credit card firms, insurance companies and other second-tier lenders surged over 1.5 trillion won ($1.02 billion) in October, the largest gain since July 2021, according to the officials from the financial sector. In detail, cash advances and other loans from credit card firms and c

Nov. 10, 2024

Top court to review SK chief’s $1b divorce settlement

South Korea’s Supreme Court has decided to review SK Group Chairman Chey Tae-won’s bid to overturn the country's most expensive divorce suit, opening up the possibility for the head of the nation’s second-largest conglomerate to reduce the size of the settlement. On Saturday, the justices accepted the appeal by Chey who was ordered by the Seoul High Court in May to pay his estranged wife Roh Soh-yeong 1.38 trillion won ($1 billion), or 35 percent of their common wealth, in

Nov. 8, 2024

Celltrion hits record Q3 sales

South Korean biopharmaceutical company Celltrion said Friday it achieved record revenue in the third quarter, driven largely by increased global prescriptions of its flagship biosimilar products. According to a regulatory filing, Celltrion posted consolidated sales of 881.9 billion won ($645.7 million) for the quarter, a 31.2 percent increase from the same period last year. Operating profit totaled 207.7 billion won, with an operating margin of 23.6 percent. In particular, cumulative sales for t

Nov. 8, 2024