Most Popular
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Yoon visits ancient Uzbek city, wraps up Central Asia trip
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N. Korean military's construction activities spotted inside DMZ: source
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[Weekender] IV drips: A quick energy shot for overworked Koreans
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[AtoZ into Korean Mind] Korea's broken ladder of social mobility
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Top 4 conglomerates convene strategy meetings to navigate uncertainties
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[Drama Tour] Follow Suwon’s fortress to find traces of ‘Lovely Runner’
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Yoon returns amid tensions over Putin's Pyongyang visit
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Unlicensed driver rams day care center van into wall
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Doctors to go on indefinite walkout as government rejects final demands
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How Korean convenience stores became big names in Central Asia
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HD Hyundai and Shell to collaborate on next-gen liquefied hydrogen carriers
HD Hyundai announced Friday a partnership with Shell to advance liquefied hydrogen (LH2) transportation technologies. HD Korea Shipbuilding & Offshore Engineering and HD Hyundai Heavy Industries, both integral parts of HD Hyundai's shipbuilding division, have signed a joint development agreement with Shell International Trading and Shipping Company Ltd. The agreement was signed at the HD Hyundai Global Research and Development Center in Gyeonggi Province. Executives in attendance incl
May 24, 2024
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Posco’s steel technology brings aesthetics to cultural heritage restoration
Posco has harnessed its cutting-edge steel technology in the delicate task of South Korean cultural heritage restoration, transforming conventional sites in Seoul into vibrant spaces of public art and relaxation. At the heart of this project is PosART, or Posco Advanced Resolution printing Technology. It is an innovative steel sheet developed from PosMAC, or Posco Magnesium Alloy Coating Product, Posco’s proprietary corrosion-resistant steel. PosART also boasts the ability to render vivi
May 24, 2024
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Celltrion's Omlyclo gets EU nod as first Xolair biosimilar
Korean biosimilar giant Celltrion announced Thursday that its anti-IgE antibody biosimilar Omlyclo has been approved in Europe, after a series of clinical trials with the reference product Novartis' Xolair. Omlyclo, also called by project name CT-P39, received formal product approval from the European Commission on Tuesday, approximately two months after receiving the initial approval recommendation from the Committee for Medicinal Products for Human Use under the European Medicines Agenc
May 24, 2024
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[From the Scene] Korean Air's new operations center highlights full commitment to safety
GIMPO, Gyeonggi Province -- Korean Air has unveiled its newly revamped Operations and Customer Center after 23 years, emphasizing the airline's increased focus on risk management in light of variables such as the merger with Asiana Airlines and the introduction of newer aircraft. "Air operations are possible only when real-time communications, from transportation to operation to cabin maintenance, are smoothly organized and seamlessly prepared," said Korean Air President Woo Kee-h
May 23, 2024
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South Korea unveils W26tr support program for chip industry
South Korean President Yoon Suk Yeol on Thursday unveiled a national support program worth 26 trillion won ($19 billion) to boost the country's semiconductor industry, in a move to up its game amid the global competition. The comprehensive chip support package includes financial programs, research and development strategies and infrastructure support. But it came short of direct subsidies which industry players here have been requesting to compete with international rivals. "With tax c
May 23, 2024
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[Photo News] Green heroes honored
The winners of this year’s H.eco Awards pose for a group photo with Choi Jin-young, president of Herald Media Group, the organizer of the annual award and the H.eco Forum, during an award ceremony held at Some Sevit, Seoul, Wednesday. From left: Choi, and the four award winners Jung Ju-yeon, founder and executive director of Wear Again; Jin Gwan-woo, founder of Soom-Tan-Geot-Deul; Byeon Su-bin, president of Diphda Jeju; Julian Quintart, a goodwill ambassador for EU Climate Actions. Also
May 22, 2024
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Hyundai Rotem, STX sign $60m armored vehicle deal with Peru
Korean defense company Hyundai Rotem and trading firm STX signed a $60 million contract with Fabrica de Armas y Municiones del Ejercito SAC, the Peruvian state arms procurement agency, to export K-808 White Tiger wheeled armored vehicles. It is Korea's first export of armored vehicles to Latin America, according to Hyundai Rotem on Wednesday. Under the contract, Hyundai Rotem and STX will supply 30 units of K-808 vehicles to Peru by the end of 2024. Hyundai Rotem will be responsible for pro
May 22, 2024
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Hanwha Q Cells' EnFin completes $250m ABS sales
EnFin, the US-based residential solar financing subsidiary of Hanwha Q Cells, has recently completed the sales of the first asset-backed securities worth $250 million, the Korean energy solution provider said Wednesday. EnFin provides financial solutions to consumers who install solar panels in their homes. The company began its operation in January 2023. According to Hanwha Q Cells, the ABS sales comprise bonds backed by thousands of consumer loans. RBC Capital Markets acted as the sole structu
May 22, 2024
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Hyundai Elevator marks 40 years with vision for future innovation
South Korea's largest elevator manufacturer Hyundai Elevator celebrated its 40th anniversary on Wednesday, pledging to solidify its path toward becoming a centennial company with a vision centered on ESG management practices and urban air mobility. "Hyundai Elevator has grown into a cornerstone of the Korean industry through relentless challenges and innovations since honorary chairman Chung Ju-young planted the seeds 40 years ago," Hyundai Group Chairwoman Hyun Jeong-eun was quot
May 22, 2024
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Dongsuh Foods' Kanu Barista woos coffee lovers
As the domestic capsule coffee reaches an annual market size of 400 billion won ($293 million), South Korean food and beverage manufacturer Dongsuh Foods aims to attract more consumers through its brand, Kanu Barista. Launched in February last year, Kanu Barista is a premium capsule coffee brand that contains 9.5 grams of coffee beans, which is 1.7 times more than conventional espresso capsules, delivering a richer flavor. The brand offers a diverse selection of 11 capsule types, including light
May 22, 2024
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[Herald Interview] 'Lifting regulations key to corporate push for RE100'
Regulations are holding back companies like Samsung Electronics in speeding up their renewable energy commitments, so the government should remove them and pursue grid transformation, the head of Climate Group said Tuesday. Noting how Korea had a lot of regulatory limitations on implementing renewable energy plants, Helen Clarkson, the chief executive officer of the London-based entity, highlighted the role of the government and that its initial moves are the key for the country to "get on
May 22, 2024
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[Photo News] Show of appreciation
Hana Financial Group Chairman Ham Young-joo (fourth from right) pose for a photo with company employees and their parents at a concert held at Olympic Park in Seoul on Tuesday. The group arranged a music concert, inviting employees who have shown outstanding performance in their work and their parents. (Hana Financial Group)
May 22, 2024
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Digital Marketing Summit 2024 explores marketing roles in heightened AI era
Artificial intelligence’s impact on the marketing sector will become much greater in the following years, said experts who joined the Digital Marketing Summit 2024. The Digital Marketing Summit is an annual digital marketing conference that invites marketers and experts to share the latest tactics, trends technologies and insights from the industry. The latest summit runs between Tuesday and Wednesday at Coex in Seoul. “AI is going to have such a big impact on us. Technology today is
May 22, 2024
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[KH Explains] Hong Kong rally spurs hope for ELS loss mitigation
Hong Kong stocks surged to a 10-month high Monday, continuing a bullish rally and sparking hopes of South Korea's recovery from significant losses tied to equity-linked securities tracking the Chinese index. The Hang Seng China Enterprises Index, tracking major Chinese stocks on Hong Kong's main bourse, reached an annual high of 6,954 on Monday, setting daily records. The following day, it opened slightly lower at around 6,909, but this was still 38 percent up from January's annua
May 21, 2024
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Samsung replaces semiconductor chief amid heightened AI race
Samsung Electronics said Tuesday it has appointed Jun Young-hyun as the new head of its semiconductor business in an apparent move to strengthen its market position amid fiercer competition in burgeoning artificial intelligence chips. Kyung Kye-hyun, who previously held the position, has been tapped to lead the company's future business planning team. The announcement comes as Samsung struggles to compete with rivals in advanced chips such as SK hynix, the market leader in producing high ba
May 21, 2024
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[Herald Interview] TikTok, K-pop are evolving together: TikTok exec
In the globalization of K-pop, TikTok has played a very large role. “People used to listen to music by playing CDs or tuning into the radio, and with the advent of MTV and YouTube, it became the era of watching music through video media such as music video," said You Kyung-cheol, head of TikTok’s artist and label partnership, artist services in Northeast Asia. "Then, TikTok ushered in an era where people don't just consume music passively but actively participate in it
May 21, 2024
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Hanwha chief calls for defense unit to spur growth overseas
Hanwha Group Chairman Kim Seung-yeon on Monday urged the group’s space business and defense arm Hanwha Aerospace to increase efforts to expand its presence in the global defense market. "We need to tirelessly work on securing future orders for Romania's K-9 project, in order to expand our share in the European market and extend our global market reach to North America," the chairman was quoted as saying during his visit to the company’s Changwon plant. It was Kim'
May 21, 2024
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Foreign holdings of top 4 Korean finance giants hit record high
Foreign holdings in South Korean banking groups' shares have surged to a record high, driven by government and corporate efforts to boost local stock values. Industry reports indicate that the average foreign ownership of shares in four major local finance groups -- KB, Shinhan, Hana and Woori -- reached 62.7 percent Friday, marking an all-time high. This figure reflects a 3.1 percent increase from the end of last year, significantly higher than the average 1 percent increase observed on Ko
May 20, 2024
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XR partnership between LG, Meta falls through
The highly-publicized partnership between LG Electronics and Meta for an extended reality device seems to have fallen through largely due to the lukewarm outlook for the XR market overall, according to industry sources on Monday. “LG and Meta may continue collaborating in other areas such as artificial intelligence and metaverse. But for an XR device, they are pushing back their plans after seeing the sluggish sales of the earlier models, especially Apple’s Vision Pro,” an indu
May 20, 2024
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Chinese e-commerce sales slow in April amid safety concerns
Chinese e-commerce platforms, including the big three -- AliExpress, Temu and Shein -- suffered a more than 40 percent fall in sales in April, possibly hit hard by consumer concerns over product safety. According to a Monday report by BC Card, the nation’s largest payment processing company, payments on Chinese e-commerce platforms dropped more than 40 percent last month compared to the previous month. The transaction volume also decreased by 38.1 percent over the same period. Payments for
May 20, 2024