[Contribution] Vintage audio is not a prop

By Winter Choi Visit the trendiest places and you’ll be bound to see them: turntables flanked by 33’s, album art on the wall, maybe even a ghettoblaster if you’re lucky. Retro audio formats have enjoyed a comeback in recent years. And with people spending more time at home during the pandemic – and spending more money on goods than experiences – sales are higher than ever. But are people buying physical formats for the music, or only to display them on a shelf? Classic audio

Sept. 13, 2023

Hyundai Motor, labor union reach tentative agreement on wage increase

Hyundai Motor Group said Wednesday it has signed a tentative wage agreement with the company’s labor union, extending their strike-free negotiation streak to five consecutive years. The management and labor union members including Lee Dong-suk, president of the domestic production department at Hyundai Motor Group, and the company’s union representative Ahn Hyun-ho carried out the 21st round of negotiations at the Ulsan plant on Tuesday. The key agendas on the table were the wage hik

Sept. 13, 2023

[Photo News] McLaren 750S unveiled

Head of Asia Pacific at McLaren Charlotte Dickson (second from left), McLaren Seoul CEO Lee Tae-heung and other executives pose for a photo next to the McLaren 750S to celebrate its launch in Korea, in Seocho-gu, Seoul on Wednesday. The spider model features a more advanced weight-saving option, powertrain performance and dynamic driving experience than the renowned 720S coupe, according to the company. “With the new 750S, the British luxury sports car brand plans to expand its footing in

Sept. 13, 2023

[Photo News] Sold out

Samsung Electronics said Wednesday that more than 110,000 people applied to order the Galaxy Z Fold5 Thom Browne Edition during the seven-hour lottery event held via its website on Tuesday. The limited-edition bundle, priced at 4.29 million won ($3,230), includes a phone, a smartwatch and accessories featuring the American fashion house’s color scheme. (Samsung Electronics)

Sept. 13, 2023

Incheon Airport plans W1.2tr massive renovation

Incheon Airport's Terminal 1 will undergo a 1.2 trillion won ($903 million) refurbishment starting from next year, the airport's operator said Wednesday. Separately, it added that it would seek to attract Chinese travelers, whose travel demand is expected to surge amid China’s recent lifting of a group travel ban to South Korea. “After conducting an open survey of Terminal 1’s facilities’ operational status, Incheon Airport will conduct a comprehensive repair of

Sept. 13, 2023

BBQ Chicken catches US food magazine’s eye

Korean fried chicken franchise Genesis BBQ on Wednesday said BBQ Chicken was introduced as the leader of the K-chicken craze in the United States in a recent report by Quick Service Restaurant magazine. Last month, QSR, a US publication that covers the fast food restaurant industry, released an article that highlights BBQ Chicken’s distinctive strategies behind its sharp growth in the country. The “mouth-watering” crispy Korean fried chicken BBQ is rapidly expanding its presenc

Sept. 13, 2023

Innocean named 2nd best advertising agency in Indonesia

Innocean Worldwide said Wednesday that its Indonesian unit was named the second-best agency of the year by Campaign Brief Asia, a global online portal specialized in marketing and advertising. Campaign Brief Asia assessed firms in Indonesia based on their history of receiving creative awards and an internal evaluation, conferring second place to Innocean Indonesia in the Agency of the Year 2023 ranking on Sept. 7. Despite being a relative newcomer to the Indonesian market, the firm outpaced reno

Sept. 13, 2023

Import prices up by most in 17 months in August on higher oil prices

South Korea's import prices spiked by the most in 17 months last month due to the higher price of crude oil, central bank data showed Wednesday. The import price index rose 4.4 percent in August from a month earlier, following a 0.2 percent fall the previous month, according to the preliminary data from the Bank of Korea. The rise marks the sharpest since March last year, when the comparable figure was 7.6 percent. From a year earlier, the prices fell 9 percent. Import prices are a major fa

Sept. 13, 2023

S. Korea's on-year job additions rebound in Aug.

South Korea's job additions rebounded in August after slowing for four consecutive months, but the growth was led mostly by seniors, data showed Wednesday. The number of employed people came to 28.67 million in August, up 268,000 from a year earlier, according to the data compiled by Statistics Korea. The country's jobless rate came to 2 percent last month, down 0.1 percentage point over the period. In July, the country added 211,000 jobs on-year, the lowest in 29 months. South Korea&#

Sept. 13, 2023

Seoul shares open higher ahead of US inflation data

South Korean stocks opened slightly higher Wednesday, as investors await US inflation data for August that will offer clues as to what direction the Federal Reserve will take in its interest rate hike cycle. The benchmark Korea Composite Stock Price Index rose 4.94 points, or 0.19 percent, to 2,541.52 in the first 15 minutes of trading. The United States is set to release the consumer price index for August later in the day, with the reading on producer prices to be released Thursday. The upcomi

Sept. 13, 2023

[Test Drive] Mercedes-Benz’s new CLE Coupe not your average 2-door

SAN SEBASTIAN, SPAIN -- If someone were asked to talk about the traits of a regular two-door coupe, words like quick, slick and compact might come to mind. Mercedes-Benz is looking to change these norms with the launch of its new CLE Coupe. The Korea Herald got to experience the new CLE Coupe 450 4 Matic first hand during a global media test drive event held in the northern Spanish city of San Sebastian from Aug. 31 to Sept. 1. The vehicle's facade embodies both athleticism and elegance, wi

Sept. 13, 2023

6 in 10 view chaebol favorably: FKI survey

Nearly 60 percent of Koreans expressed a favorable view of the country's chaebol -- large industrial conglomerates run and controlled by families -- indicating an improvement in negative sentiments toward these conglomerates over the past decade, according to a survey conducted by the Federation of Korean Industries. The survey, commissioned by the business organization, which includes over 600 members among Korean companies and industries, was conducted on a total of 1,005 individuals aged

Sept. 12, 2023

[Herald Interview] Crypto platform sees future in IP content

An expansion of the storytelling platform and content for cryptocurrency is the key to broadening the digital asset industry, said Eric Anziani, president and chief operating officer at Singapore-based crypto trading platform Crypto.com. “Our vision is ‘Crypto is more than trading.’ There are many use cases that can empower creators, developers and builders to reach global audiences,” Anziani said in an interview with The Korea Herald held in central Seoul, Wednesday. As

Sept. 12, 2023

Seoul shares fall ahead of US inflation data release

South Korean stocks closed 0.79 percent lower Tuesday, as investors kept a cautious mode ahead of the release of US inflation data that will offer clues as to what direction the Federal Reserve will take in its interest rate hike cycle. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index retreated 20.30 points to finish at 2,536.58. Trading volume was light at 354.5 million shares worth 8.78 trillion won ($6.61 billion), with decliners outstripping gain

Sept. 12, 2023

Samsung SDS unveils generative AI model for corporate clients

South Korean IT solutions provider Samsung SDS unveiled new services that will allow its clients to easily adopt generative artificial intelligence in their businesses to improve work productivity, with the aim to usher in hyperautomation innovation. “There has been a view that generative AI will fall into a chasm due to the variability of human languages, but large language models (LLMs) have paved the way for a true hyperautomation of office work,” Samsung SDS president and CEO Hwa

Sept. 12, 2023

[From the scene] Why Adidas shop owners in Korea are protesting

The South Korean unit of the global sports brand Adidas has been hit with backlash from its franchisees who claim that they have been subjected to years of repeated abuse of power from their parent corporation -- only to have their business contracts terminated via the head office’s unilateral announcement. The Adidas Franchisee Association -- comprising 76 Adidas Korea franchisees out of some 100 across the country -- said Tuesday it reported Adidas Korea to the Federal Trade Commission f

Sept. 12, 2023

Coupang Play outpaces streaming rivals

Korean streaming platform Coupang Play has showed the fastest year-on-year subscriber growth in the country, outpacing other local and global competitors to reach a milestone 6 million subscribers last month, less three years since its launch, according to a ranking announced by WiseApp on Friday. A total of 6.34 million people were subscribing to Coupang Play as of last month, according to WiseApp, which analyzes user behavior of mobile applications, in its August analysis of the number of subs

Sept. 12, 2023

LG Energy Solution makes big ESS push in US

LG Energy Solution said Tuesday it will expand its footing in the burgeoning energy storage systems market in the US. ESS refers to a device or group of devices assembled to convert the electrical energy from power systems and into energy that can be stored for later use. It can be used in a variety of settings ranging from power grids to commercial buildings and residences. The company has unveiled its latest ESS business vision and technologies at the Re+ 2023, one of the biggest renewable e

Sept. 12, 2023

[Photo News] IDB chief at Naver

Naver Cloud said Tuesday that Ilan Goldfajn (right), president of the Inter-American Development Bank, visited the South Korean tech giant’s new building, Naver 1784, at their headquarters in Bundang, Gyeonggi Province, on Monday. During their visit, IDB officials were briefed on Naver’s hyperscale AI model, Hyper Clova X, and cloud computing technologies. (Naver)

Sept. 12, 2023

[Photo News] Galaxy Flip cruising

A 70-meter ship featuring a light-emitting diode sculpture for Samsung Electronics' Galaxy Z Flip5 cruises down the Huangpu River in Shanghai on Thursday. Samsung launched its latest foldable phones in China last month, and says the phones have been selling better than their predecessors, without elaborating on the exact sales figures. (Samsung Electronics)

Sept. 12, 2023