By Baek Seung-bo South Korea's public procurement has grown to a market worth 210 trillion won (about $150 billion). Each year, central government agencies, local governments, and other public institutions spend this staggering amount procuring goods, services, and infrastructure. This represents nearly 10 percent of Korea’s GDP. With such an immense scale, it’s no surprise that the public procurement market involves numerous participants -- approximately 600,000 companies and

Industry Nov. 29, 2024

By Lee Seong-woo, Vice president of Korea Chamber of Commerce and Industry Living up to its reputation as a “small but mighty” country, Singapore has been an economic hub of Asia and is home to the Asian headquarters of many global companies. Its business-friendly investment environment, talented workforce and strategic location have made it a center of the Asian economy. The government of Singapore offers nondiscriminatory investment incentives to both local and foreign companies,

Industry Oct. 24, 2024

Emily Cho, president and chief marketing officer of Hanjin Logistics Corporation, visited 11 countries in the first half of this year alone as she continued adding impetus to extending the global shipping network of the company her grandfather founded 79 years ago. "I try to be present in meetings with our global clients, hoping to help foster long-term, solid partnerships with them," Cho told The Korea Herald in a recent interview at her office in central Seoul, a day before her busin

Industry Oct. 21, 2024

ABU DHABI, United Arab Emirates – A fleet of chartered busses lined up to drop off Chinese tourists at the entrance of the Louvre Abu Dhabi, the Arab franchise of the famous French museum – a rare scene in the capital of the United Arab Emirates where most of the visitors come from India, Saudi Arabia, the US, and the UK. Located on a 24,000 square-meter site within the city’s Saadiyat Cultural District, the museum, known for its enormous metallic silver canopy, is a testament

Industry March 5, 2024

ABU DHABI -- Miky Lee, vice chair of CJ Group and its entertainment and media subsidiary CJ ENM, has won this year’s Abu Dhabi Festival Award, a top honor offered to individuals in recognition of their outstanding contributions to culture and the arts. The Abu Dhabi Music & Arts Foundation held the award ceremony in the UAE capital Saturday. Lee attended the event in person to receive the award. The annual award, inaugurated in 2012 by the foundation in association with the Swiss luxur

Industry Feb. 5, 2024

By Nam Sung-hyun Minister of the Korea Forest Service The United Nations General Assembly designated June 17 as "World Day to Combat Desertification and Drought" in December 1994. The annual UN observance day aims to raise awareness of global efforts to combat desertification, land degradation and drought. In 2023, the UN day holds special significance for Korea, as this year commemorates the 50th anniversary of Korea's national reforestation plan launched in 1973. Land and fore

Industry June 16, 2023

By Nam Sung-hyun Today is the International Day of Forests. Forests account for 31 percent of the land surface area of the Earth. They play a crucial role in responding to climate change as they absorb 2 billion metric tons of carbon dioxide yearly as a major terrestrial carbon sink. Forests also provide habitats to 80 percent of terrestrial species, proving to be the cornucopia of biodiversity. In other aspects, approximately 1 billion people worldwide obtain essential nutrients from forests

Industry March 20, 2023

HANOI, Vietnam - Provincial governments of Korea and Vietnam boasted their abundant infrastructure, key industries, and investor incentives during the Korea-Vietnam Economic Cooperation Forum held on Friday in Hanoi, Vietnam, pinning high hopes on elevated ties between the two countries. Kim Young-hwan, governor of North Chungcheong Province, suggested Korea and Vietnam work together to diversify global supply chains that are heavily reliant on China amid the escalating US-China rivalry. North C

Industry Dec. 18, 2022

HANOI, Vietnam - South Korea’s Myongji Hospital and Vietnam’s Thai Binh Province on Friday signed a memorandum of understanding to boost the healthcare partnership between the two parties, on the sidelines of the Korea-Vietnam Economic Cooperation Forum 2022 held at InterContinental Hanoi Landmark72. The agreement, signed by Lee Wang-jun, chairman of Myongji Medical Foundation, and Pham Quang Hoa, director of Thai Binh Department of Health, aims to develop the Vietnamese provincial g

Industry Dec. 18, 2022

HANOI, Vietnam - Jeong Man-ki, vice chairman of the Korea International Trade Association, stressed now is the time for South Korea and Vietnam to seek the next level of economic ties as the two nations face structural and geopolitical challenges in his keynote speech during the Korea-Vietnam Economic Cooperation Forum held in Hanoi, Vietnam, on Friday. Under the title “Great Together, Next Prosperity 100,” Herald Corp., publisher of The Korea Herald and Herald Business, held the for

Industry Dec. 18, 2022

Mobility Nov. 27, 2022

SK Group said Sunday it is ramping up efforts to bolster the role of outside board members in a way to help its board of directors play a more active role as the top decision-making body and elevate corporate value ultimately. After giving them more authority like evaluating CEO performance, the chip-to-energy giant said it is launching new measures to boost the board’s expertise and prowess across affiliates. Currently, SK Inc., the holding unit, has a nine-member board consisting of four

Industry Nov. 13, 2022

KT Corp. said Thursday it is making a strategic investment worth $2 million in Sonde Health, a US voice biomarker tech startup that analyzes people’s voice to recognize depression, anxiety and respiratory problems. The Boston-based firm, equipped with the world’s largest amount of data on voice health, has already secured partnerships with global tech companies like Qualcomm and GN Group. Vocal biomarkers are gaining renewed attention recently, with voice-related services from smartp

Technology Nov. 10, 2022

Foldable phones may have prompted the demand for devices with an expandable screen, but Samsung Electronics seems not interested in slidable phones due to lukewarm marketability, an analyst said Wednesday. “The market for foldable phones overlaps with that for slidable phones. It will be difficult for slidable phones to create its own market,” said Yi Choong-hoon, CEO and top analyst of Seoul-based display market tracker UBI Research at a conference. “Samsung seems uninterested

Technology Nov. 9, 2022

LG Display said Tuesday that it has developed the world’s first high-resolution stretchable display that can be elongated by 20 percent, a technological breakthrough with numerous potential industrial uses. According to the company, the full-color 12-inch display can be extended to a size of 14 inches. Despite the heightened flexibility, the display supports 100 pixels per inch, a similar resolution to other monitors on the market. Stretchable displays are also called “free-form disp

Technology Nov. 8, 2022