Most Popular
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Industry experts predicts tough choices as NewJeans' ultimatum nears
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Opposition chief acquitted of instigating perjury
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Seoul city opens emergency care centers
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Jung's paternity reveal exposes where Korea stands on extramarital babies
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[Exclusive] Hyundai Mobis eyes closer ties with BYD
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[Herald Review] 'Gangnam B-Side' combines social realism with masterful suspense, performance
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Why S. Korean refiners are reluctant to import US oil despite Trump’s energy push
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Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations
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Prosecutors seek 5-year prison term for Samsung chief in merger retrial
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UN talks on plastic pollution treaty begin with grim outlook
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Global supply bottlenecks feared to ratchet up pressure on inflation: BOK report
Protracted global supply disruptions could send expected inflation higher and add larger-than-expected upward pressure on inflation in South Korea, a central bank report said Tuesday. The report by the Bank of Korea also said that the global "carbon neutral" initiative could rather exert pressure on inflation by causing imbalances in the supply of and demand for materials needed to produce clean energy. "The global supply bottlenecks have been impacting upward inflationary pres
Dec. 21, 2021
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S. Korea halts Canadian beef imports
South Korea on Tuesday suspended quarantine inspections of Canadian beef following the discovery of a mad cow case in the North American country. The agriculture ministry said the move effectively banning imports went into effect four days after Canada confirmed a cow in Alberta was infected with bovine spongiform encephalopathy (BSE), also known as mad cow disease. The ministry said the latest BSE case was the "atypical" type and less risky than "typical" cases as it doesn
Dec. 21, 2021
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Samsung takes over Intel as top chipmaker by revenue: report
Samsung Electronics Co. took over the top spot in the global semiconductor market by revenue in the third quarter, a report showed Tuesday, on the back of strong memory chip sales. Industry tracker Omdia said Intel, which had been the top chipmaker for 11 straight quarters, slipped to number two behind Samsung "as the memory segment, where Samsung is the number one DRAM and NAND supplier, was the largest growth area for semiconductor" in the three months ending in September. DRAM, o
Dec. 21, 2021
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[Graphic News] Samsung retains No. 1 spot in Q3 global smartphone market: report
Samsung Electronics retained the top spot in the global smartphone market in the third quarter of the year, a report showed. The world‘s largest smartphone maker held a market share of 20 percent in the July-September period, followed by Apple with 14 percent and Xiaomi with 13 percent, according to a report from market researcher Counterpoint Research. During the three months, the South Korean tech giant shipped 69.3 million smartphones, up 20 percent from the previous q
Dec. 21, 2021
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S. Korea to increase investment to double supply of eco-friendly cars
South Korea plans to spend 2.4 trillion won ($2 billion) next year to help double the accumulated sale of hydrogen and electric cars, the finance minister said Tuesday, in the latest move to reduce greenhouse gas emissions. Finance Minister Hong Nam-ki said the government plans to provide more subsidies and other incentives to increase the supply of zero-emission vehicles. Hong said the government aims to double the accumulated supply of eco-friendly vehicles to 500,000 units next year from an
Dec. 21, 2021
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Seoul stocks open higher on bargain hunting
South Korean stocks opened higher Tuesday, as investors sought to buy oversold stocks after the key index's recent plunge. The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.16 points, or 0.51 percent, to 2,978.16 in the first 15 minutes of trading. Stocks started strong after the stock index dipped nearly 2 percent the previous session over the global spreading of the omicron variant of the new coronavirus. Most large caps rebounded in Seoul. Top cap Samsung Electronics adde
Dec. 21, 2021
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Exports rise 20% in first 20 days of Dec.
South Korea's exports grew 20 percent on-year in the first 20 days of December on the back of solid demand for chips and petroleum products, customs data showed Tuesday. The country's outbound shipments stood at $36.9 billion in the Dec. 1-20 period, compared with $30.7 billion a year earlier, according to the data from the Korea Customs Service. (Yonhap)
Dec. 21, 2021
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Producer prices grow for 13th month in November on high energy costs
South Korea's producer prices increased for the 13th straight month in November as a rise in oil and energy prices drove up the costs of manufacturing products, central bank data showed Tuesday. The producer price index, a major barometer of consumer inflation, stood at 112.99 in November, up 0.5 percent from a month earlier, according to the preliminary data from the Bank of Korea (BOK). The reading marked the 13th consecutive month of a rise. Compared with a year earlier, it jumped 9.6 per
Dec. 21, 2021
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[THE INVESTOR] Renault’s Master becomes game changer of domestic mini bus market
Renault Samsung’s Master van has become a popular choice as a school bus and as a camping car in South Korea due to its safety and customizable features. The Master van, first introduced in 2018 in South Korea, offered enhanced safety and a business solution for its customers, the company said on Monday. “Parents are relieved to see that we use Renault Master as our academy bus to pick up students. The van has a 3 point seat belt so our students feel safe and comfortable when ridin
Dec. 20, 2021
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Louis Vuitton out, as duty-free suffers
Louis Vuitton, a brand that once symbolized the prestige that came along with overseas travel for Koreans, is exiting some duty-free stores in Korea, according to multiple officials in the industry. “Louis Vuitton announced mid this year it will pull out of all Korean duty-free stores operating in the city. It’s unclear exactly when, but we expect it will be around the end of the year to early 2022,” said one official from a local duty-free operator who requested anonymity.
Dec. 20, 2021
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Banking giants set to deliver record dividends
South Korea’s four major bank holding firms are expected to hand out record-high dividends this year amid their highest net profit estimates buoyed by pandemic recovery, officials said Monday. The total dividends the four companies -- KB Financial Group, Hana Financial Group, Shinhan Financial Group and Woori Financial Group -- would pay is estimated to be 3.8 trillion won ($3.2 billion), about 26 percent of the combined net profit of 14.6 trillion won. “We were asked to refer to 2
Dec. 20, 2021
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Mirae Asset Securities chief named ‘person of the year’ by KRX
Mirae Asset Securities Chairman Choi Hyun-man was named person of the year by the Korea Exchange, Korea’s sole bourse operator, for his contribution to the local capital market, officials said Monday. “Chairman Choi heads a leading brokerage company that helped 21 firms go public this year, including game maker Krafton, in what was the biggest initial public offering in 2021,” the Korea Exchange said. The exchange credited its first awardee Choi for becoming the first non-fa
Dec. 20, 2021
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Krafton invests $5m in Indian dating app 'FRND'
Krafton Inc., the South Korean gaming giant behind the global smash hit "PlayerUnknown's Battlegrounds" (PUBG), said Monday that it has invested $5 million in the Indian dating app FRND. The investment into FRND is part of a Series A round of funding worth $6.5 million that includes other investors, such as India Quotient and Elevation Capital, the company said. A Series A round of financing is the first round of financing that a startup receives from a venture capital firm. FRND is
Dec. 20, 2021
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S. Korea ups 2022 economic growth outlook to 3.1%
South Korea's finance ministry on Monday revised up its 2022 growth outlook for the country's economy to 3.1 percent, saying that exports and private spending will likely gain ground despite heightened economic uncertainty. The government's latest projection is higher than the 3 percent growth forecast made in June, according to the Ministry of Economy and Finance. The ministry's outlook is more upbeat than the 3 percent growth estimates by the Bank of Korea (BOK) and the Organization for Econ
Dec. 20, 2021
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Seoul stocks sink to 3-month low amid virus scare
South Korean stocks plunged nearly 2 percent Monday morning amid spreading virus concern. The Korean won steeply fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) retreated 54.73 points, or 1.81 percent, to close at 2,963 points, the lowest closing since Dec. 2. Trading volume was low at about 371 million shares worth some 8.5 trillion won ($7.1 billion), with losers outnumbering gainers 785 to 117. Foreigners offloaded a net 552 billion won, and institutions
Dec. 20, 2021
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Korea seeks economic normalization next year via tourism boosting, new tech
SEJONG -- South Korea has publicized its goals of attaining full-fledged normalization of the economy beyond the pandemic crisis in 2022, alongside taking the lead in global competition to occupy future businesses. Deputy Prime Minister and Finance Minister Hong Nam-ki highlighted these dual goals during the government’s unveiling of economic policy directions for next year at the Government Complex in Seoul on Monday. In a bid to maximize the economic normalization, the Ministry of Eco
Dec. 20, 2021
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LG chairman urges customer-centric innovation
LG Group chairman and Chief Executive Officer Koo Kwang-mo urged its staff and executives across the world to focus on creating a “valuable user experience” for customers in his New Year’s speech for 2022. Koo, who serves in the top post of South Korea’s fourth-largest family-owned conglomerate, stressed in the mission statement that its staff should think outside the box and explore what is beyond the quality of goods and services, provided by the group dedicated to el
Dec. 20, 2021
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From cryptocurrency to EVs, ‘green’ chips are all the rage
“Green” chips, or low-power semiconductors, have become bestsellers among both crypto miners and electric vehicle makers looking to increase their profitability and driving range. According to industry sources Monday, major chipmakers including Taiwan Semiconductor Manufacturing Co. and Samsung Electronics are producing advanced, low-power chips at full throttle, as miners of cryptocurrencies desperately search for chips that consume less electricity. “Conventional chips c
Dec. 20, 2021
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Hanwha Q Cells’ low-carbon panels go online in France
Hanwha Q Cells said Monday that its low-carbon solar panels began generating electricity at TotalEnergies’ 55-megawatt solar farm in Gien, France. According to the solar business unit of Hanwha Group, its 126,000 solar panels will produce up to 64 gigawatt-hours of electricity per year -- enough for 71,000 people -- at Total’s solar farm that spans 107 football fields. “Over the course of 30 years, the solar farm will curb carbon emissions worth 550,000 metric tons,”
Dec. 20, 2021
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Kakao Brain’s AI models ‘more practical’ than Naver, says CEO
Kim Il-du, CEO of Kakao Brain, the artificial intelligence technology research and development subsidiary of Kakao, said Monday its supergiant AI models are more practical than Naver’s, amid growing competition between the two tech giants over leadership in the AI business in Korea. “Although Kakao Brain’s Korean-language AI model KoGPT contains less parameters than Naver’s, it is just the size to give fast and real-time feedback to the users,” Kim said during an o
Dec. 20, 2021