Kim Jong-kook truly ‘unnatural’? What does science say?

Singer and entertainer Kim Jong-kook has enjoyed over two decades of success in TV and music. But the 45-year-old recently made headlines for something other than his voice: his workout routine. Controversy broke out one faithful Halloween to spook fans of the beloved TV personality, when a fitness YouTuber named Greg Doucette called him out for likely not being “natural” when working out to build his body. “Is he natural? Of course not!” Doucette said in his video. He

Nov. 15, 2021

Seoul stocks open higher on Wall Street gains

South Korean stocks opened higher Monday, taking a cue from the Wall Street gains. The benchmark Korea Composite Stock Price Index (Kospi) rose 16.43 points, or 0.55 percent, to 2,985.23 points in the first 15 minutes of trading. The tech-heavy Nasdaq composite rose 1 percent, and the Dow Jones Industrial Average added 0.5 percent Friday. Investors are waiting for the release of China's economic data and the virtual summit of the leaders of the US and China set for this week. China's October

Nov. 15, 2021

S. Korea's EV sales nearly double this year, 7th-largest worldwide

Sales of electric vehicles (EVs) in South Korea almost doubled in the first three quarters of this year from a year earlier, ranking seventh in the world, data showed Monday. A total of 71,006 EVs were sold in Asia's fourth-largest economy in the January-September period, up 96 percent from a year earlier, according to the data from the Korea Automotive Technology Institute. The figure was the seventh-largest in the world. China sold the largest number of EVs with 1.76 million units in the nin

Nov. 15, 2021

S. Korea's household debt-GDP ratio highest worldwide: report

South Korea has the highest ratio of household debt to gross domestic product (GDP) among major economies in the world, a report showed Monday, indicating it could crimp consumption and weigh on the economy down the road. The country's household debt stood at 104.2 percent of its GDP as of end-June this year, the highest among 37 economies, according to the report by the Institute of International Finance. Hong Kong came next with 92 percent, followed by Britain with 89.4 percent, the United S

Nov. 15, 2021

Hyundai Futurenet co-hosts metaverse conference ‘Coming-M 2021’ with The Korea Herald

The “Coming-M 2021” metaverse conference kicked off Monday, with representatives from around 50 companies from 11 different countries taking part. Hyundai Futurenet announced Friday that it was co-hosting the interactive metaverse conference with The Korea Herald to “make an arena where global corporations, governments, and individuals preparing for the post-pandemic era can share ideas and work together.” The conference will be held for five days from Monday to Fr

Nov. 15, 2021

AmCham, US senator discuss greater opportunities for businesses in US, Korea

Members of the American Chamber of Commerce in Korea and Georgia Sen. Jon Ossoff discussed measures to increase cooperation between the United States and South Korea in various industries that seek innovation, AmCham said Friday. AmCham’s delegation met with the American senator on Thursday during his weeklong trip to Seoul and conveyed the organization’s mission to promote the growth of US businesses in Korea as well as investment in the US by Korean companies, AmCham said. The

Nov. 15, 2021

Hyundai Mobis develops driving assistance system for tight spaces

Hyundai Mobis, Hyundai Motor’s future mobility software and component unit, announced Sunday that the company has developed a new driver assistance system, specifically designed to help drivers navigate narrow streets and get in and out of small parking spaces. The company said the Mobis Parking System, the first of its kind in the world, is specialized for countries like South Korea and European countries, which have a lot of urban areas with narrow streets. Hyundai Mobis expects its

Nov. 14, 2021

Corporate sector secures 64 million liters of urea solution amid supply crunch

South Korean firms have set out to secure urea or urea solution using their global networks with foreign partners in an effort to help alleviate the domestic shortage of an additive critical for diesel cars.  According to figures gathered by The Korea Herald, some 64 million liters of urea solution, or diesel exhaust liquid, has been sourced by the corporate sector.    The supply accounts for more than two-thirds of some 82 million liters of urea solution the government said woul

Nov. 14, 2021

[Weekender] Who needs staff, when there are robots and tech-savvy customers?

At this year’s annual Seoul International Cafe Show which took place earlier this month, automation and smart devices such as drip coffee-making robots enjoyed the spotlight. “From smart coffee roasters to drip coffee-making robots, there were various opportunities to get a taste of the ‘smart cafe’ experience,” one official at the event said. These are the latest sign of automation and a demographic shift in South Korea where cashier-free stores have increasingly

Nov. 14, 2021

US Trade Representative to visit S.Korea next week

US Trade Representative Katherine Chi Tai will visit Seoul on Thursday, according to government officials on Sunday. It will mark the first time in 10 years for the country’s chief trade negotiator to visit South Korea since Free Trade Agreement talks were held in 2011. It is expected that Tai will discuss a number of economic and trade issues with South Korean counterparts including the semiconductor supply chain and a digital trade agreement. Other topics include incentives for South

Nov. 14, 2021

Number of Koreans with W1b in assets climbs 10%

Amid liquidity-driven booms in the real estate and stock markets amid the COVID-19 pandemic, the number of people with assets of more than 1 billion won ($847,000) increased by over 10 percent last year from a year earlier, a report showed Sunday.  The number of Koreans with financial assets worth over 1 billion won stood at 390,000 last year, taking up 0.76 percent of the total population, according to the Korea Wealth Report 2021 released by KB Financial Group Research Institute. The

Nov. 14, 2021

[Herald Interview] K-pop rises as retail investment option

Institutional and corporate investments have supported South Korean cultural contents such as the Oscar-winning movie “Parasite” and megahit Netflix series “Squid Game” on their way to global fame. And their success means a large return in profits from content, often considered as risky investment. A local online platform believes that market access to Korean content ready for production could open to a wider public as retail investors around the world are paying keen int

Nov. 14, 2021

Six Korean companies added to Dow Jones Sustainability World Index

Six Korean companies have been added to the Dow Jones Sustainability World Index (DJSI) said a public institution under the Ministry of Industry, Sunday. The six companies are Samsung Biologics, Kakao, SK Telecom, Hyundai Motors, logistics company Hyundai Glovis and car parts maker Hyundai Mobis, the Korea Productivity Center said. The Dow Jones Sustainability World Index is part of a larger family of Dow Jones Sustainability Indices (DJSI) launched in 1999 as the first global sustainabilit

Nov. 14, 2021

Hyundai Motor chief Chung Euisun reappointed as president of World Archery Asia

Hyundai Motor Group Chairman Chung Euisun was approved as head of World Archery Asia, the biggest group promoting archery in Asia region, for the fifth time, the carmaker announced Sunday. Chung was reappointed as the institution’s president at the group’s general meeting held in Dhaka, Bangladesh, Friday. Of the 28 member countries that attended the event, 26 voted in favor of Chung leading the association for the next four years, the group said. Following the appointment, Ch

Nov. 14, 2021

Korea needs to invest more to meet wind power target: EY

South Korea is in need of more aggressive investment in renewable energy sector in order to achieve its offshore wind capacity goal by 2030 and address the country’s geographical weaknesses in wind energy, a report showed Sunday. Korea was ranked 21st in terms of attractiveness of renewable energy investment and deployment opportunities, in a report that announces the top 40 countries in the assessment, according to London-based consulting firm Ernst & Young. Korea has slid down the

Nov. 14, 2021

[Law Talk] Importance of internal controls for financial institutions

For the past year, the financial crisis caused by the unsound business practices of certain financial companies such as Lime, Optimus and companies that sold derivative-linked funds, has been the hottest topic within the financial industry. Following the eruption of these well-publicized scandals, financial supervisory authorities began sanctioning financial companies for unsound business practices, fraud perpetrated by fund managers, and misleading sales practices known as “incomplete sal

Nov. 14, 2021

CJ Logistics to invest W2.5t by 2023 to foster high-tech business sector

CJ Logistics Corp., the logistics arm of South Korean conglomerate CJ Group, said Sunday that it will invest 2.5 trillion won ($2.12 billion) by 2023 in a project to be reborn as an "innovative technology" firm, especially by strengthening platform-related businesses. The investment is largely aimed at upgrading its e-commerce and delivery operation amid the high popularity of ordering on mobile and online platforms. CJ Logistics said it will expand its fulfillment infrastructure by

Nov. 14, 2021

[Battery+] Elon Musk wants LFP batteries for Tesla. Here’s why Korean battery trio shouldn’t produce them

Elon Musk strikes again. With every word he posts on Twitter, the market swings like a pendulum. From bitcoin to space, the eccentric leader’s influence has no bounds. This time, the Tesla CEO is shaking up the electric vehicle market by challenging the decades-long paradigm of lithium-ion batteries. Last month, Tesla announced that it would use a cheaper, safer alternative called lithium-iron phosphate, or LFP batteries, in all of its standard-range cars. Taken aback by Tesla&rsqu

Nov. 14, 2021

Lee Jae-yong's US trip signals his return to Samsung management

After staying under the radar for more than three months since his parole in August, Samsung Electronics Vice Chairman Lee Jae-yong on Sunday revealed himself at an airport in Seoul leaving for an overseas business trip for chips and vaccine, signaling his return to the forefront of management. The Samsung Electronics executive arrived at Seoul Gimpo Business Aviation Center at around 7:45 a.m. on Sunday and hopped on a Korean Air charter flight to Canada after briefly talking to the press.

Nov. 14, 2021

Computer failure causes massive disruption of budget carrier service

A computer system failure caused massive delays and cancellations of flights of Jin Air Co., a budget carrier, on Friday. The airline's passenger service system was down for 10 hours from 6:30 a.m., leaving thousands of passengers stranded at airports across the country. "The computer system failure occurred due to a problem in the server in Germany," Jin Air said. The system was restored at 4:40 p.m., it added. "We apologize for causing huge inconvenience to our customers.

Nov. 12, 2021