[Photo News] Korean defense firms target Middle East

At the 2024 World Defense Show in Saudi Arabia on Monday, Hyundai Rotem's defense solutions business unit head, Lee Jung-yup (eighth from left), and LIG Nex1’s overseas business manager, Lee Hyun-soo (ninth from left), formalized a defense export cooperation agreement aimed at the Middle East market. This collaboration targets surging demand for modernized defense capabilities in the region, strengthening the global footprint of Korean defense technologies. Hyundai Rotem has showcased

IndustryFeb. 6, 2024

[Photo News] Forex roadshow in London

South Korean First Vice Finance Minister Kim Byoung-hwan (second from left at table) speaks during an investor relations session in London on Monday about the current status of the South Korean economy and the country's economic policy plans. Ten global investment banks, including JP Morgan, Fidelity, Wellington, UBS and Morgan Stanley, attended the session to introduce Korea's new policies to boost accessibility for the country's foreign exchange market. (Ministry of Economy and

EconomyFeb. 6, 2024

[Photo News] Ex-Premier Leaguer Lingard in Seoul

Jesse Lingard, former Manchester United midfielder and England men’s national football team member, arrived at Incheon International Airport on Monday afternoon as he is expected to finalize a deal with FC Seoul of the K League 1, South Korea’s highest professional football league, later this week. If the deal with FC Seoul goes through, the former English Premier Leaguer will become the biggest international football star with the highest name value that the Korean league has ever s

SoccerFeb. 5, 2024

[Photo News] Foreign reserves fall

Two employees sort out dollars at Hana Bank's Counterfeit Notes Response Center in central Seoul on Monday. Korea's foreign reserves stood at $415.7 billion as of end-January, down $4.39 billion from the previous month, according to the Bank of Korea. It was the first time in three months for the figure to fall. The US greenback has been strengthening as the market has lowered its expectation of an early pivot in the Federal Reserve's monetary policy. Korea was the world's ni

EconomyFeb. 5, 2024

[Photo news] Seoul's biggest blessing is you

The new quote "Seoul's biggest blessing is you" is seen on the signboard on the front side of the Seoul Metropolitan Library building in central Seoul. Seoul Metropolitan Government put up the quote in celebration of Seollal, Korea’s traditional New Year's day, which falls on Saturday, the city announced Monday. The city government has displayed quotes collected from citizens since 2013 on the signboard hung at the former Seoul City Hall main building.

Social AffairsFeb. 5, 2024

[Photo News] Hanwha in Saudi

Hanwha Group's defense affiliates -- Hanwha Aerospace, Hanwha Systems and Hanwha Ocean -- are showcasing their latest weapons systems at the World Defense Show 2024 held in Riyadh, Saudi Arabia, from Sunday to Thursday. Displaying the defense solutions covering the air, land and ocean such as an advanced engine for a fighter jet, K9 howitzer and submarine technology, Hanwha said it will look to explore partnerships in the Middle East. (Hanwha Aerospace)

IndustryFeb. 4, 2024

[Photo News] IBK chairman starts second year at helm

Industrial Bank of Korea Chairman and CEO Kim Sung-tae convened a meeting with top executives from the bank's subsidiaries and branches at the IBK training center in Chungju, North Chungcheong Province, on Friday, marking the start of his second year in office. Emphasizing the bank's pivotal role in "driving Korea's economic growth by leveraging policy financing for small and medium-sized enterprises," Kim underscored the importance of boosting support for small business

IndustryFeb. 4, 2024

[Photo News] 'Squid Game' to return with second season in 2024

"Squid Game," the South Korean Netflix original drama series which took the world by storm upon its release in 2021, will return with a second season in 2024, according to Netflix. The new season of the thriller will follow the story of Sung Ki-hun (played by Lee Jung-jae), who gives up his flight to the United States after discovering that the organizers of the death game are continuing to recruiting participants. The drama series will also follow the stories of various contestants wh

TelevisionFeb. 2, 2024

[Photo News] Winter Youth Olympics concludes with celebration of athletic feats

The fourth Winter Youth Olympics concluded in eastern South Korea on Thursday with a celebration of the feats accomplished by teenage athletes over the past two weeks. The closing ceremony began at 8 p.m. Thursday under the theme, "Shine Again" at the open plaza in front of Gangneung Hockey Centre in Gangneung. A highlight video of the 14-day competition was shown on the main screen, and rapper Lee Young-ji and dancing group 1Million performed for the athletes and spectators. The two-w

CultureFeb. 2, 2024

[Photo News] Digital transformation in finance

Shinhan Financial Group Chairman Jin Ok-dong (center) attends a discussion session with employees to talk about the group’s efforts for digital transformation at the headquarters in central Seoul on Wednesday. Top executives and working-level engineers specialized in artificial intelligence and data analysis joined the event to share the latest digital trends in the financial market and Shinhan’s future strategy. “Each of you should become a ‘business designer’ to

EconomyFeb. 1, 2024

[Photo News] Cry for compensation

Petitions submitted by investors reeling from losses due to Hong Kong-tied derivatives are laid out at the National Assembly in Seoul on Tuesday. A group of investors held a protest, calling for compensation for their losses and accusing banks of misleading them. The principal losses from the financial product are estimated to reach 6 trillion won ($4.5 billion) in the first half of this year. (Yonhap)

MarketJan. 30, 2024

[Photo News] Coal for heat

Shinhan Financial Group Chairman Jin Ok-dong (center) and other company officials deliver coal briquettes to low-income households in Seodaemun-gu, northern Seoul, Thursday. The financial giant raised donations of 200 million won ($150,000), with some 150 million won coming from employees. The fund will be used to provide heat supplies through a local charity. (Shinhan Financial Group)

IndustryJan. 28, 2024

[Photo News] Record preorders

Customers line up to activate their preordered Galaxy S24 smartphones at Samsung Electronics’ flagship store in southern Seoul on Friday. The latest smartphone scored record preorders in Korea, selling more than 1.21 million units during the preorder period from Jan. 19-25. On Sunday, Samsung said it is extending the preactivation period to Feb. 8, due to an influx of customers. (Samsung Electronics)

TechnologyJan. 28, 2024

[Photo News] Hyundai-SK partnership

SK Enmove CEO Kim Wone-kee (left) and Hyundai Motor Company President Yang Hee-won attend a partnership signing ceremony for the development of next-generation vehicle refrigerants at the SK Building in central Seoul on Thursday. The two companies agreed to develop refrigerants for electric vehicles and enhance readiness for tighter emissions rules in key markets. (SK Innovation)

IndustryJan. 25, 2024

[Photo News] S-Oil sharing

S-Oil CEO Anwar A. Al-Hejazi (left) poses for a photo with Kim Byong-joon, chairman of Community Chest of Korea, to deliver a donation of 3 billion won ($2.24 million) to the charity at CCK’s headquarters in Seoul on Wednesday. The donation will be used to help underprivileged households and social workers, especially in the southeastern industrial city of Ulsan where the refiner aims to build the nation’s largest petrochemicals plant by 2026. S-Oil has joined CCK’s sharing cam

IndustryJan. 25, 2024

[Photo News] US Congress Rep gets Korean name

Korea International Trade Association Chairman Koo Ja-yeol (right), who doubles as LS Group's chairman, shakes hands with Joe Wilson, the US representative for South Carolina, after their meeting on ways to boost economic cooperation in supply chains between the two countries at the Trade Tower in Seoul, Wednesday. During the meeting, Koo gifted Rep. Wilson a name card engraved with the Korean name Cho Il-seon, which sounds similar to his English name and has the meaning of the "front

IndustryJan. 25, 2024

[Photo News] Seollal inflation

Piles of apples are displayed at a large supermarket chain store in Seoul on Wednesday. Ahead of the Lunar New Year’s holiday season next month, grocery prices have soared more than 20 percent compared to a year ago, according to price tracker Korea Price Information on Wednesday. The average price of three apples at a traditional market was 15,000 won ($11.20), a 42.86 percent surge from the same period last year. (Yonhap)

IndustryJan. 25, 2024

[Photo News] First Samsung experience store in India

Samsung Electronics said Wednesday that its flagship brand experience store, dubbed “Samsung BKC,” has opened at Jio World Plaza Mall in Mumbai, India. The 732-square-meter site is the first of its kind in India where visitors can experience and purchase Samsung’s latest devices. Samsung said preorders for the new Galaxy S24 series exceeded 250,000 units in three days in India -- a record for the flagship smartphone there. (Samsung Electronics)

IndustryJan. 24, 2024

[Photo News] For mutual growth

KB Kookmin Bank CEO Lee Jae-keun (right) and Korea Securities Finance Corporation CEO Yoon Chang-ho pose for a photo at the bank's headquarters in Yeouido, Seoul on Monday after signing an agreement to seek mutual growth with small and medium-sized enterprises. Under the agreement, KB Kookmin Bank will provide both financial and non-financial support to the SMEs, including reductions of loan interests and business consulting. (KB Kookmin Bank)

IndustryJan. 23, 2024

[Photo News] Citi-Kyung Hee sharing day

Citibank Korea CEO Yoo Myung-soon (11th from left, second row) and employees pose with some 65 students joining the 18th Citi-Kyung Hee University NGO Internship in Seoul on Friday. Since the internship’s launch in 2006, Citibank employees and student interns together have taken part in diverse activities to give back to society. This year, they made art supply kits consisting of brushes, paint and recycled canvases made from waste paper and cardboard to be used for art classes at local ch

IndustryJan. 22, 2024