[Gadget Review] Apple's new iPhone 16 Pro: Professional camera phone

Apple’s latest flagship smartphone series -- the iPhone 16, iPhone 16 Plus, iPhone 16 Pro and iPhone 16 Pro Max -- debuted in Korea on Sept. 20 as the US tech giant included the country among the first regions for its newest phones’ launch. Since the first iPhone debuted here in 2009, it marks the first time that Korea has been included in the list of the first countries to have new iPhones. Despite the early release, Korean sales remain lukewarm. Coupang, a major online seller, saw

Oct. 2, 2024

Seoul shares open lower amid escalating Middle East tensions

Seoul shares opened lower Wednesday tracking overnight losses on Wall Street amid growing concerns over an all-out war in the Middle East after Iran attacked Israel with missiles. The benchmark Korea Composite Stock Price Index fell 0.89 percent, or 23.04 points, to 2,570.23 in the first 15 minutes of trading. Overnight, US shares tumbled after Iran fired missiles directly at Israel, with the Dow Jones Industrial Average losing 0.41 percent and the tech-heavy Nasdaq composite plunging 1.53 perce

Oct. 2, 2024

Consumer inflation slows to 3 1/2-year low of 1.6 % in Sept.

South Korea's consumer prices slowed to the lowest level in 3 1/2 years in September, falling below 2 percent for the first time since early 2021, data showed Wednesday. Consumer prices, a key gauge of inflation, rose 1.6 percent on-year last month, compared with a 2 percent increase a month earlier, according to the data from Statistics Korea. September's figure marked the lowest level since February 2021, when consumer prices grew 1.4 percent. The figure last came to the 1 percent ra

Oct. 2, 2024

Korean Air wins US awards for best first, business class cabins

Korean Air announced Tuesday that it has topped the 2024 USA Today 10 Best Readers’ Choice Awards in the business and first class category for the second year in a row. The airline also placed second for best in-flight food for the second consecutive year, while its cabin crew ranking improved from sixth to fourth place. The USA Today 10 Best Readers’ Choice Awards honors top performers across a range of categories. Nominees are selected by a panel of experts, with the final winners

Oct. 2, 2024

[KH Explains] Hanwha Aerospace vies for Chunmoo export to Norway

Hanwha Aerospace is looking to export Chunmoo, the self-developed multiple rocket launch system, to Norway as the Korean defense firm pins hopes on expanding its market presence in Europe. Hanwha Aerospace showcased a life-sized Chunmoo for the first time in Europe at the Eurosatory defense show in Paris in June this year, emphasizing the company’s willingness to secure more clients in the region beyond Poland. Defense industry experts say weapons system manufacturers do not exhibit actual

Oct. 1, 2024

KT chief vows to secure AI leadership

Telecom carriers can further expand their roles in the era of artificial intelligence as they hold the lead in offering diverse services, KT CEO Kim Young-shub said at a mobile conference in Seoul on Tuesday, saying collaboration with tech rivals is crucial to boost service quality. "AI-based services have already been realized across all areas, including telecommunications, health care, public transportation, manufacturing and logistics," Kim said in his keynote speech at this year�

Oct. 1, 2024

[Herald Interview] Sleep tech startup Munice seeks bigger footing in US

In a world where sleep disorders reportedly affect millions, South Korean startup Munice is offering a unique and science-based solution. Their app, Nightly, specializes in using a specific type of rhythmic sound frequency, called monaural beats, designed to promote relaxation and deep sleep. According to CEO Kwon Seo-hyun, 26, Nightly helps users fall asleep faster and experience deeper rest through brainwave entrainment. The app encourages electrical oscillations of the brain to synchronize wi

Oct. 1, 2024

Posco chief stresses innovation for survival at CEO forum

Posco Group Chairman Chang In-hwa underscored the urgent need for a "future-oriented strategy," during his address to executives at the 2024 Posco Forum, which took place at the Posco Global R&D Center in Songdo-dong, Incheon on Tuesday. Now in its sixth year, the theme of this year’s forum is "Navigating Crisis, Innovating for Future." Some 100 executives from the group's affiliated companies will convene for two days to gain insights from external experts and

Oct. 1, 2024

[KH Explains] Korea pursues ‘fire-free’ batteries amid EV fears

Ever since a Mercedes-Benz electric vehicle burst into flames in Incheon in August, an “EV phobia” has gripped drivers here. Less than two weeks from the massive fire, Hyundai Motor Group, the nation’s largest carmaker, preemptively disclosed the list of its EV battery manufacturers, prompting its foreign rivals to hustle to reveal their respective battery origins. A series of safety measures have also been unveiled from a new battery certification system to EV charger upgrades

Oct. 1, 2024

SK Innovation develops low-cost membrane for carbon capture

SK Innovation, with its subsidiary SK IE Technology and researchers from Yonsei University, has developed a next-generation technology designed to capture carbon emissions more efficiently and at a lower cost. This breakthrough could have significant implications for the biggest carbon-emitting industries, such as power plants, steel mills and cement factories. The research, a collaboration between the SK Innovation Institute of Environmental Science and Technology, SKIET’s R&D Center,

Oct. 1, 2024

Hyundai partners with Saudi's Misk to nurture youth talent

Hyundai Motor Group has partnered with Saudi Arabia’s Misk Foundation to develop young local talent and explore collaboration in smart city development. The two organizations signed a memorandum of understanding on Monday in the Saudi capital Riyadh, with the agreement formalized by Lee Jae-yong, head of smart city development at Hyundai’s Global Strategy Office, and Badr Hamoud Albadr, CEO of the Misk Foundation. The Misk Foundation, established in 2011 by Saudi Crown Prince Mohamme

Oct. 1, 2024

Exports extend gains to 12th straight month in Sept. on robust chip demand

South Korea's exports extended on-year gains to the 12th straight month in September, data showed Tuesday, on the back of robust shipments of chips. Outbound shipments rose 7.5 percent on-year to $58.7 billion last month, according to data compiled by the Ministry of Trade, Industry and Energy. Imports added 2.2 percent on-year to $52.1 billion, resulting in a trade surplus of $6.66 billion. South Korea has maintained a trade surplus for 16 consecutive months. By sector, exports of semicond

Oct. 1, 2024

Wellness Seoul 2024 to highlight healthier, balanced living

Spending quality time for physical and mental well-being has become a mantra for people living in today’s fast-paced world. To promote a healthier and more balanced lifestyle, Herald Media Group, publisher of The Korea Herald, is launching its inaugural Wellness Seoul 2024 with support from the Seoul Metropolitan Government. Wellness Seoul 2024 aims to unite people from all walks of life in a shared celebration of healthier living and overall wellness, welcoming anyone seeking relaxation a

Sept. 30, 2024

Hahn & Co. to acquire SK Specialty for W4tr

Hahn & Co., a major private equity firm based in Korea, is set to acquire SK Specialty, a gas supplier under the country's chip-to-energy conglomerate, SK Group, for an estimated 4 trillion won ($3.05 billion). SK Inc., the holdings company of the group, announced through a regulatory filing on Monday that the private equity house has been named the preferred bidder for SK Specialty. “(SK) plans to sign a stock purchase agreement with the bidder within this year, after discussing

Sept. 30, 2024

Korean firms tap growth of nuclear power, defense in Slovakia

South Korean and Slovakian business leaders gathered in Seoul to deepen industrial cooperation, focusing on nuclear power plants and defense industries, according to a Korean business group on Monday. On the occasion of Slovak Prime Minister Robert Fico's state visit to Korea, the Federation of Korean Industries hosted a roundtable with businesspeople from the two countries to discuss ways for Korean firms to expand their footings in the central European country. Slovak Deputy Prime Minis

Sept. 30, 2024

Naver to cancel W400b of treasury shares to prop up value

South Korean portal giant Naver announced Monday it will buy back and cancel shares worth 400 billion won ($306 million) by the end of the year to boost its declining stock value. The latest measure will be separate from the ongoing shareholder return policy the company introduced in 2023, spanning three years. “From Oct. 2 to Dec. 28, we will repurchase about 2,347,500 shares which accounts for 1.5 percent of the total issued shares, and cancel them by Dec. 31," Naver said. "Giv

Sept. 30, 2024

Kakao to unveil Nvidia partnership at conference next month

South Korean IT giant Kakao will unveil its new artificial intelligence service Kanana at the upcoming developers conference next month, the company said Monday. Holding the annual event dubbed "if kakaoAI 2024" from Oct. 22-24, the company will also announce its AI partnership with Nvidia, the leading graphic processor unit maker, Kakao said. On the first day of the event, Kakao CEO Chung Shin-a will deliver a keynote speech on Kakao's AI road map and Chief AI Officer Lee Sang-ho

Sept. 30, 2024

Seoul shares dip over 2% ahead of US economic data; won at 9-month high

Seoul shares fell by more than 2 percent Monday as investors remained on the sidelines ahead of the releases of key economic data in the United States later this week. The local currency ended at a 9-month high against the US dollar. The benchmark Korea Composite Stock Price Index dropped 2.13 percent, or 56.51 points, to 2,593.27. Trading volume was moderate at 352.4 million shares worth 10.5 trillion won ($8.03 billion), with losers outnumbering winners 708 to 181. Institutions and foreign inv

Sept. 30, 2024

[KH Explains] Is Hyundai-GM partnership win-win to beat Tesla, Chinese rivals?

Hyundai Motor Company and General Motors seem like very different automakers. One is a South Korean juggernaut known for its efficiency and clean design, while the other is a symbol of American muscle, built on a century of dominance in trucks and sport utility vehicles. Yet earlier this month, these two giants signed a sweeping partnership. “In a time of intense competition from Tesla and an ever-growing Chinese EV threat, Hyundai and GM are probably betting that their combined strengths

Sept. 30, 2024

Daewoong's new drug patents reach 88% of total

South Korean drug maker Daewoong Pharmaceutical said Monday that more than 88 percent of its patents registered over the past five years in the country have been for new drugs, reflecting the firm’s efforts to enhance its competitiveness in both domestic and global markets through the development of advanced pharmaceuticals. According to data from the Ministry of Food and Drug Safety, Daewoong registered nine domestic patents from 2020 to September 2024. Of these, eight are related to the

Sept. 30, 2024