[Herald Design Forum 2022] Genesis designer on 3 elements that built the brand’s success

When designing a Genesis car, Yoon Il-hoon, vice president of HMC Genesis Design Group, says he focuses on three key pillars -- audaciousness, progressiveness, and infusing Korean traits. “The journey of Genesis has not been that long but we are always owning up to audacious challenges when designing new models by exploring progressively and incorporating the most Korean-like traits that can accentuate the brand’s originality,” Yoon said in an interview with The Korea Herald.

Sept. 21, 2022

[From the Scene] Manpower shortage amid travel surge strikes Schiphol Airport

Korea Herald correspondent AMSTERDAM -- Upon arrival at Schiphol Airport, the third-busiest airport in the world, hundreds were lined up at closed check-in counters. For a flight that was to take off at 9 p.m. to Incheon, South Korea, there were more than 200 people waiting in line already for the check-in counter to open at 4 p.m. “We came here as early as possible because our tour guide told us Schiphol Airport is extra busy these days due to a manpower shortage. He said we could miss ou

Sept. 21, 2022

Trade deficit casts clouds on markets, growth

SEJONG -- South Korea is likely to record a trade deficit for the sixth consecutive month, as the nation suffered a trade deficit of $4.1 billion for the first 20 days of September, down 8.7 percent on-year, state data showed Wednesday. According to the Ministry of Trade, Industry and Energy, the nation posted $32.9 billion in exports while imports increased 6.1 percent on-year to $37 billion over the corresponding period. It would be the first time in 25 years for Asia's fourth-largest econom

Sept. 21, 2022

ADB cuts Korea’s 2023 growth outlook to 2.3%

The Asian Development Bank lowered South Korea’s growth outlook for next year by 0.3 percentage point to 2.3 percent in its updated outlook published Wednesday, while keeping its forecast for this year at 2.6 percent. It also maintained Korea’s inflation outlook at 4.5 percent for this year, and 3 percent for 2023. “(Korea’s) private consumption is expected to slow in the second half of the 2022 as stimulus from the economy’s reopening fades and interest rate increa

Sept. 21, 2022

Seoul stocks dip almost 1% on growing woes over Fed rate hikes

South Korean stocks slipped back into negative territory again Wednesday, as investors took to the sidelines ahead of a widely expected sharp rate hike by the Federal Reserve. The Korean won fell against the dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 20.64 points, or 0.87 percent, to close at 2,347.21. Trading volume was light at 367.1 million shares worth 6.2 trillion won ($4.4 billion), with losers outpacing gainers 580 to 279. "Today's losses came as invest

Sept. 21, 2022

BMW, Mercedes-Benz, Volkswagen lead recall tally in South Korea

Germany’s top three carmakers – BMW, Mercedes-Benz and Volkswagen – topped the list of the most recalled cars in South Korea over the past five years, a recent report showed Wednesday. According to the report based on data from the Ministry of Land, Infrastructure and Transport, vehicles produced by the German big three made up 92.1 percent of the total recalled cars between January 2018 and August 2022. BMW was ranked first with 2,702 recalls over five years, with the numbe

Sept. 21, 2022

Dyson's Gen5 Detect vacuum cleaner makes debut in Korea

Consumer electronics giant Dyson said on Wednesday it would begin to sell its brand-new cord-free vacuum cleaner Gen5 Detect that boasts stronger power density, deeper cleaning ability and longer battery life compared to its predecessors in South Korea and China. Its Hyperdymium Motor allows Gen5 Detect, the newest release on the lineup since V15 Detect in May 2021, to have up to 262 airwatts of suction power, higher than the V15 Detect's 230 airwatts. The Gen5 motor, which is lighter than

Sept. 21, 2022

Supply disruption looms as Hyundai Steel union threatens to go strike

Concerns over steel supply disruption is rising over unionized workers at South Korea's second-largest steelmaker Hyundai Steel threatening to stage sit-in protests. The workers’ threats come amid stalled wage negotiations at a critical time, as the country’s largest steelmaker Posco is reeling from typhoon damage. According to industry news reports on Wednesday, Hyundai Steel’s labor union, which has been at the negotiation table since March, warned of going on strike if its

Sept. 21, 2022

[Newsmaker] Researchers discover silver lining in autism treatment

South Korean researchers have discovered how early diagnosis and medication may help ease symptoms of those with autism spectrum disorder, the Institute of Basic Science said Wednesday. Autism is a type of brain development disorder found in about 2 percent of the world population, according to the IBS. Common symptoms include a lack of social communication and interaction skills as well as repetitive behaviors and unexpected reactions. The exact cause of autism and its treatment still remain u

Sept. 21, 2022

[Interactive] How to spot dementia in a man's best friend

Sept. 21, 2022

LG Innotek to show off substrate products at trade show

LG Innotek said Wednesday that it is showcasing its latest substrate products at an international trade show kicking off this week. The electronics component manufacturer will be participating in the Korea International Electronic Circuits and Packaging Show 2022 held in Songdo, Incheon, from Wednesday to Friday. One of the key products to be unveiled is its new FC-BGA -- flip-chip ball grid array -- substrate, the mass production of which is to start next year. A FC-BGA board is used to connect

Sept. 21, 2022

P&O Chemical starts construction of new battery material plant

Posco Chemical said Wednesday that its joint venture with OCI Co., called P&O Chemical, has started construction of a new local plant to produce a key coating material used in secondary batteries. The plant, located Gongju, South Chungcheong Province, will have an annual production capacity of 15,000 tons of pitch, a carbon material used for coating the surfaces of anodes, a key component in rechargeable batteries. The two companies held a ground-breaking ceremony on Wednesday, with their to

Sept. 21, 2022

Kolon FnC to launch upcycled bags featuring BTS stage outfits

South Korean textile company Kolon Industries FnC said Wednesday it will launch an upcycled bag collection featuring pieces of stage outfits worn by BTS, through its fashion brand Re;cod, on Sept. 28. Upcycling refers to the creative reuse of old products to create new merchandise of greater quality or value. The limited edition collection includes three types of bags made from white industrial airbags. Each bag is attached with a piece from a concert outfit one of the seven BTS members wore. Th

Sept. 21, 2022

Seoul stocks open lower on fret over aggressive rate hikes by Fed

South Korean stocks opened lower Wednesday, tracking an overnight loss on Wall Street, as investors bet that the Federal Reserve will deliver another sharp rate hike this week. The benchmark Korea Composite Stock Price Index (KOSPI) inched down 8.04 points, or 0.34 percent, to 2,359.81 in the first 15 minutes of trading. Overnight, US stocks slumped as investors fret that the Federal Open Market Committee (FOMC) would opt to push the US benchmark rate by 75 basis points, which could further acce

Sept. 21, 2022

[Photo News] Companion for the blind

A guide dog walks with a trainer during a press event at Samsung Guide Dog School in Yongin, Gyeonggi Province, Tuesday. Samsung Fire & Marine Insurance held the event to celebrate the 29th anniversary of the program, a pet project of the late Samsung Group Chairman Lee Kun-hee. Dogs for eight people were assigned to people after being trained for years. (Samsung Electronics)

Sept. 20, 2022

SCI Information Service, CrePASS Solution to create new credit rating model

SCI Information Service and CrePASS Solution signed a new partnership on Friday to boost business cooperation and create a new credit rating model for the financially marginalized. Under the partnership, the two South Korean credit rating agencies will seek synergy by combining SCI Information Services’ accumulated credit information and CrePASS Solution’s alternative information methodologies. Their new planned credit rating model, in particular, aims to help people who have difficu

Sept. 20, 2022

Seoul stocks snap 4-day losing streak ahead of Fed policy meeting

Seoul stocks ended their four-day losing streak on Tuesday as investors scooped up oversold stocks ahead of the Fed's policy meeting later this week. The Korean won rose against the US dollar. After opening higher, the benchmark Korea Composite Stock Price Index (KOSPI) stayed in positive terrain, closing at 2,367.85, up 12.19 points, or 0.52 percent. Trading volume was light at 407.9 million shares worth 6.9 trillion won ($4.96 billion) with decliners outnumbering gainers 654 to 198. "

Sept. 20, 2022

LG Energy Solution to unveil moduleless EV battery in 2025

South Korean lithium-ion battery cell maker LG Energy Solution plans to develop a moduleless concept for pouch-type high-nickel batteries to increase EVs’ space utilization, reduce weight and improve cost competitiveness by 2025. Unlike the existing module-to-pack concept, the new concept, called "cell-to-pack," will simplify the process of assembling pouch cells directly into battery packs, Choi Seung-don, LG Energy Solution's senior vice president and automotive battery de

Sept. 20, 2022

Portion of renewables in Korea's power generation tops 20% for 1st time

SEJONG -- South Korea has seen the portion of power generation facilities for renewable energy of the total generation output exceeding 20 percent for the first time this year, state data showed Tuesday. According to the Korea Power Exchange, the capacity of renewable energy came to 27,103 megawatts as of September, which marked 20.1 percent of 134,719 megawatts in collective power generation facilities. It is estimated that the portion surpassed the 20 percent level for the first time in Augu

Sept. 20, 2022

S. Korea to spend W200b for R&D digitalization

South Korea will spend 200 billion won ($144 million) on digital integration strategy projects over the next five years to shorten the time researchers take to solve complex problem surrounding new technologies by decades, the Ministry of Science said Tuesday. According to the ministry, the government will use the financial support for projects that integrate artificial intelligence, digital twin and big data into developing diagnoses of diseases such as intractable cancer and dementia, nine ne

Sept. 20, 2022