Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Wealthy parents ditch Korean passports to get kids into international school
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First snow to fall in Seoul on Wednesday
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Man convicted after binge eating to avoid military service
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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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S. Korea not to attend Sado mine memorial: foreign ministry
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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SpaceX seeks tie-up with telecom carriers
US space firm SpaceX, which is set to launch its low-orbit satellite communication service in South Korea within the second quarter, is seeking to work with the major telecom operators here, sources told The Korea Herald Monday. The Elon Musk-owned firm, approaching SK Telecom, KT Corp. and LG Uplus separately, had offered to sell its satellite internet network service, Starlink, to the telecoms firms, the sources said. The contract terms were not disclosed due to a nondisclosure agreement. As t
April 17, 2023
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China’s reopening has limited impact on S. Korea: BOK
China's reopening has shown limited effects on the South Korean economy, dampening expectations that it would reignite tourism and export industries, a report by the Bank of Korea showed Monday. The trade balance with China, which had been worsening since April last year due to China's lockdowns, failed to make a rebound despite the easing of COVID-19 measures in December, the report said. The trade deficit with China stood at $7.85 billion in the first three months of 2023, following
April 17, 2023
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[Photo News] Hyundai sponsors archery
Hyundai Motor Group said Monday it has renewed its sponsorship of the World Archery Federation for three more years until 2026. The carmaker will be sponsoring the archery games for 10 years, with this year’s Hyundai Archery World Cup and Hyundai World Archery Championships slated for Apr. 18 and July, respectively. Hyundai Motor Group Executive Chair Chung Euisun is serving as the head of the Korea Archery Association since 2005.
April 17, 2023
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[Beyond Earth] ‘Space can give dreams to children’
Space is not just about new opportunities for future industry, but changing perspectives and presenting challenges and dreams for generations to come, says Paul Yun, a Korean American solar system ambassador for NASA. “What would be wise for Korea is to utilize space to its fullest to bring out every positive factor from it. If space can become a bigger area, not all smart children will be trying to go to medical school. If more children chase space-related dreams, Korea’s space ecos
April 17, 2023
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FSC to ease regulation on Korean investment firms' foreign lending
The Financial Services Commission will revise the net capital ratio regulation to create a more favorable environment for Korean investment firms' overseas lending business, the financial regulator said Monday. At a seminar held at the Korea Exchange Monday, many securities firms here -- including Mirae Asset Securities -- raised the issue on how the current regulation makes it difficult to conduct their business outside of Korea. Currently, all investment firms are obligated to maintain a
April 17, 2023
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[Photo News] 1st rollable display for cars
Hyundai Mobis said Monday it has developed a rollable display for cars -- the first of its kind globally. The 30-inch display can be rolled up and down depending on the mode the driver chooses. The automotive parts unit affiliated with Hyundai Motor Group said it aims to secure orders from luxury carmakers globally.
April 17, 2023
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Pet spending surges during pandemic
South Korean's annual expenditure per capita on pets, along with the nation's pet-related businesses, is growing steadily, data released Monday showed. Purchase records from 2019 to 2022 compiled by the big data center at major Korean card firm Shinhan Card showed that the average annual spending per person at a slew of pet-related services or products -- such as animal hospitals, dog hotels, dog cafes, and dog salons -- recorded 353,000 won ($268) last year, the highest in four years.
April 17, 2023
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[Photo News] Robot chefs
Doosan Robotics on Monday launched a food and beverage collaboration robot that can aid basic operations in the kitchen. According to the company, the robot arm can lift up and carry objects weighing up to 5 kilograms with an operational reach of 90 centimeters. Doosan Robotic said it will look to expand the application of the robot arm to bakeries and fast food restaurants.
April 17, 2023
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S. Korea to send economic delegation to Hungary, Poland, Slovakia
South Korea will send a delegation to Hungary, Poland and Slovakia this week to discuss ways to boost economic and trade ties with the respective European countries, the industry ministry said Monday. The delegation led by First Vice Industry Minister Jang Young-jin will visit the three European nations from Monday through Friday to meet with senior officials from the nations for talks on enhancing cooperation on steel, batteries and other major industry fields and to hold business forums involv
April 17, 2023
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Seoul shares open slightly lower on rate hike concerns
South Korean stocks opened marginally lower Monday as investors took to the sidelines amid lingering concerns over rake hikes. The benchmark Korea Composite Stock Price Index shed 3.74 points, or 0.15 percent, to 2,567.75 in the first 15 minutes of trading. The Kospi finished higher Friday for a sixth consecutive session after softer-than-expected US economic data showed that inflation is slowing, adding to hopes the Federal Reserve will dial back its aggressive rate-hike cycle. Wall Street, how
April 17, 2023
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[Graphic News] Smartphone sales slide
Sales of smartphones in South Korea fell 6 percent last year from a year earlier, industry data showed. Samsung Electronics, the world’s leading smartphone maker, saw its smartphone sales decline 2 percent on-year in its home country in 2022, while sales of Apple’s iPhone inched down 0.4 percent from a year ago, market analyst firm Counterpoint Research said. Sales of others tumbled 71 percent on-year last year due to a base effect stemming from LG Electronics’ exit from the mo
April 17, 2023
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Finance minister rules out extra budget
South Korea was not considering planning a supplementary budget, its finance minister has said, despite a looming decline in this year's tax income. "We are not mulling a supplementary budget at this point," Finance Minister Choo Kyung-ho said during a meeting with reporters in Washington on Thursday (U.S. time), where he attended the G20 Finance Ministers and Central Bank Governors' meeting. The comment came as South Korea's tax income declined 15.7 trillion won ($12 billion) as of Fe
April 16, 2023
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LG chairman files suit over 'excessive' inheritance tax
LG Group Chairman Koo Kwang-mo is belatedly found to have filed a complaint against the South Korean tax administrative agency, claiming that the inheritance taxes imposed on him were excessively hefty, according to the business circles on Sunday. Koo took legal action against the head of the National Tax Service’s regional office in Yongsan-gu, central Seoul, in the latter half of last year to request the cancellation of inheritance tax overpayment. The chairman jointly filed a suit with
April 16, 2023
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Online luxury sellers suffer losses as shoppers return in-store
A slew of Korean online luxury retailers have capped last year with sharp falls in their profits as consumers have begun returning in-store while competition among online malls grow fierce. Korean luxury goods platform Must-it's operating losses widened by 68 percent on-year to 16.8 billion won ($12.9 million), according to the firm's regulatory filing on Friday. Other Korean major platforms also were in the red in 2022, with Korean luxury goods retailer Balaan seeing its operating los
April 16, 2023
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LG Chem, Huayou Cobalt to build W1.2tr battery material plant in Korea
LG Chem, South Korea’s chemical giant, and Huayou Cobalt, China’s leading cobalt refiner, will invest 1.2 trillion won ($918 million) to build a battery material plant in Gunsan, North Jeolla Province, according to reports Sunday. Citing anonymous industry sources, the reports said the two companies will officially sign the partnership Wednesday to jointly establish a production site for precursors. Precursors are core materials of cathode materials, one of the four critical battery
April 16, 2023
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Major crypto exchanges delist paycoin
Paycoin, the cryptocurrency issued by PayProtocol, was delisted from three major virtual asset trading platforms in South Korea after the issuer's petition for a preliminary injunction against the removal was rejected by a Seoul court on Friday. PayProtocol, a subsidiary of payment service company Danal, filed the petition on April 8, after the Digital Asset Exchange Alliance (DAXA) -- consisting of five major crypto exchanges-- announced on March 31 that it would stop trading paycoin on Bi
April 16, 2023
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[Photo News] Polestar among luxury brands
Polestar, a Swedish all-electric vehicle maker, has become the first auto importer to open a pop-up store at the Hyundai Department Store in Pangyo, Gyeonggi Province. According to Polestar Korea, the EV maker will operate the pop-up store on the first floor alongside luxury brands such as Gucci, Hermes and Tiffany & Co. through May 14. Customers can check out the Polestar 2 on display, take the vehicle for a test ride and receive their orders at the department store.
April 16, 2023
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ReWorld Forum to explore sustainable future
The SDX Foundation, a nonprofit seeking sustainable growth based on digital transformation, said Sunday it will hold the ReWorld Forum in Seoul on April 26 under the themes of net-zero transition as well as environmental, social and corporate governance. The upcoming forum will focus on exploring “transition finance,” which offers financial services to high carbon-emitting industries for their carbon-neutral transition. In Asia alone, the market for transition finance is expected to
April 16, 2023
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[KH Explains] Is US-China rivalry spilling over to displays?
The rare visit of Chinese President Xi Jinping to LG Display’s local manufacturing facility in China last week came as a surprise to South Korea’s display industry, raising both excitement and concerns over the intention behind the visit amid the intensifying Washington-Beijing tech rivalry. In his visit to the LG plant in Guangzhou, Guangdong Province on Wednesday, Xi underscored how China can provide an excellent ground for foreign businesses to thrive, and expressed hopes for fore
April 16, 2023
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Samsung’s Neo QLED TVs receive carbon footprint certification
Samsung Electronics, the world's largest TV maker by shipments, said Sunday that six of its Neo quantum-dot light-emitting diode TVs have been globally certified for carbon footprint by Carbon Trust, a UK-based carbon management and reduction organization. The models -- three of its 75-inch Neo QLED 8K and three of its 75-inch Neo QLED 4K screens -- obtained the certification in recognition of Samsung’s efforts to reduce the products’ weight and power consumption compared to pr
April 16, 2023