Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Korean, Romanian leaders discuss defense tech, nuclear energy
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Medical standoff deepens as doctors reject new med school plan, talks
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N. Korea sends economic delegation to Iran amid suspected military cooperation
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[Graphic News] 77% of young Koreans still financially dependent
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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Hyundai unveils versatile commercial EV platform
Hyundai Motor Company launched its new ST1 series of electrified, purpose-built vehicles for commercial use on Tuesday, aiming to diversify and enhance the efficiency of commercial vehicles for both logistics applications and beyond. An open API-based software platform -- a first for Hyundai vehicles -- is a standout component of the series, which expands the possibilities of today's commercial vehicles by providing the exact telematics data that each business user needs. The unveiling too
MobilityApril 24, 2024
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KGC eyes broader customer base with Lim Young-woong
Korea Ginseng Corp., the leading manufacturer of ginseng products in the country, has launched a new promotional video featuring trot singer Lim Young-woong. Released on Wednesday, the video showcases a day in the life of Lim, from morning routines to exercise and singing practice. The video highlights the use of JungKwanJang, the company's premium red ginseng brand, portraying its products as essential for daily vitality. Lim, known for his victory in a popular singing competition, appeals
IndustryApril 24, 2024
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4 conglomerates see combined operating profit plunge 65% last year: report
Four major conglomerates saw their combined operating profit plunge 65 percent last year, hit by sluggish sales amid an economic slowdown, a report showed Wednesday. Some 306 affiliates of four conglomerates -- Samsung, SK, Hyundai Motor and LG -- posted a combined operating profit of 24.51 trillion won ($17.9 billion) in 2023, down from 71.91 trillion won a year earlier, according to the report by the Korea CXO Institute, a corporate data firm. Samsung Group, the country's biggest conglome
EconomyApril 24, 2024
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Crypto mogul Kwon appeals against Montenegro court's extradition verdict
Montenegrin lawyers of disgraced South Korean crypto entrepreneur Do Kwon are struggling to have him extradited to his home country, not the United States, according to local news reports. Kwon's legal representatives in Montenegro appealed against the Podgorica High Court's recent ruling that found the conditions for his extradition to both South Korea and the US were met, local daily Vijesti reported on Tuesday. In their appeal, the lawyers said that the high court's April 8 dec
EconomyApril 24, 2024
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Seoul shares open sharply higher on US stock gains
South Korean stocks opened stronger Wednesday as investors snapped up blue chips across the board following overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index climbed up 46.43 points, or 1.77 percent, to 2,669.45 in the first 15 minutes of trading. Overnight on Wall Street, the S&P 500 rose 1.2 percent and the tech-heavy Nasdaq jumped 1.59 percent, while the Dow Jones Industrial Average gained 0.69 percent, as tech heavyweights lifted the broader US stock market.
MarketApril 24, 2024
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S. Korea's nanosatellite launched from New Zealand for satellite constellation project
A South Korean nanosatellite was launched into orbit as part of the nation's project to create a satellite constellation by 2027, officials said Wednesday. The Earth observation satellite lifted off aboard Rocket Lab's Electron rocket from a spaceport in Mahia, New Zealand, according to the Ministry of Science and ICT. The satellite, named NEONSAT-1, was deployed into space at an altitude of 520 kilometers, about 50 minutes after the rocket's launch. NEONSAT stands for the New-spa
TechnologyApril 24, 2024
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SC Bank Korea offers special rate for new customers
Standard Chartered Bank Korea said Tuesday it will offer special interest rates of up to 3.5 percent for as long as 60 days to first-time SC customers who deposit 30 million won ($21,800) or more, up to 2 billion won, in money market deposit accounts. Money market deposit accounts pay interest based on the daily account balance. The bigger the deposit, the higher the interest. The promotional rate is offered to first-time customers of SC Bank Korea who open accounts by April 30. The promotion wi
CompaniesApril 24, 2024
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AmCham seminar explores Korea’s potential as regional business hub
The American Chamber of Commerce in Korea hosted the sixth Doing Business in Korea seminar on Tuesday to explore strategies for bolstering Korea’s competitiveness as a regional business hub in the Asia-Pacific region. This year’s event was held at a Seoul hotel, drawing participation from officials and policymakers from the Korean and US governments, as well as representatives from domestic and foreign companies. AmCham CEO James Kim stated in his opening remarks, "Given Korea&r
IndustryApril 24, 2024
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KITA partners with German VC fund to bolster auto firms in Gwangju
The Korea International Trade Association is ramping up its efforts to support the overseas expansion of local mobility companies in the Gwangju area. On Tuesday, the state-run trade agency's regional headquarters for Gwangju and South Jeolla Province announced that it had signed a memorandum of understanding with MobilityFund, a German venture capital fund, and the Gwangju Green Car Promotion Agency to help boost the global competitiveness of local future and eco-friendly automobile firms.
IndustryApril 23, 2024
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Aging population to drive down Korea's housing prices from 2040: experts
South Korea's housing prices are expected to see a long-term decline starting in 2040, hit by the nation’s falling birth rate and quickly aging society, according to experts who joined a Seoul seminar hosted by construction project management firm Hanmi Global on Tuesday. "In 2025, South Korea will become a superaging society with an over-65 population surpassing 10 million, which will account for more than 20 percent of the country's total population. Due to the aging popul
IndustryApril 23, 2024
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[Herald Interview] Bridging Korea, Philippines for better future
Building bilateral ties between Korea and the Philippines could be a means to boosting the livelihoods of the people of each country for Luis Chavit Singson, chairman of the Philippines’ LCS Group of Companies, and boxing legend Manny Pacquiao. Singson and Pacquiao, longtime friends and investment partners, visited Seoul this week in a search for new business opportunities, along with Secretary of Agrarian Reform Conrado Estrella. Over the years, the two have been highly interested in coop
IndustryApril 23, 2024
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Polish delegation visits Seoul to push ahead with arms deal
South Korea and Poland have come to the table to seek progress in their arms deal, with Korea grappling with funding challenges for a follow-up agreement with Poland. On Monday, Pawel Bejda, Poland’s deputy defense minister, met with Seok Jong-gun, the head of South Korea’s Defense Acquisition Program Administration, marking the first high-level visit from the Polish government since the administration change there in December 2022. The Polish government's visit to South Korea c
IndustryApril 23, 2024
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SK CEOs vow to bolster corporate value-up drive
The chief executive officers of SK Group affiliates have agreed to ramp up efforts to bolster the conglomerate’s corporate value by swiftly carrying out rebalancing work to inspect and optimize businesses amid prolonged global management uncertainty. SK Group said Tuesday the latest decision came as top management agreed to bolster the corporate value-up drive at the April SK Supex Pursuit Council meeting held under the chairmanship of Chey Jae-won earlier in the day. Established in 2013,
IndustryApril 23, 2024
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K-water, Kyrgyzstan forge renewable energy, climate ties
Korea Water Resources Corp. is intensifying its international outreach to jointly tackle the climate crisis and bolster the export of water management technologies. In line with this initiative, the state-run water management agency announced on Tuesday that it has entered into multiple agreements with Kyrgyzstan to foster cooperation in the water sector and climate crisis response. Kyrgyzstan, a pivotal partner country for Korea, has previously concentrated its efforts in the environmental and
IndustryApril 23, 2024
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Seoul shares fall on foreign selling despite overnight US gains
South Korean stocks finished slightly lower Tuesday as foreign investors took profit despite overnight gains on Wall Street. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 6.42 points, or 0.24 percent, to 2,623.02. Trade volume was moderate at 316 million shares worth 9.43 trillion won ($6.84 billion). Winners, however, outpaced losers 671 to 403. Foreign investors sold a net 288.8 billion won, while institutions and individuals combined bought a
MarketApril 23, 2024
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CJ's processed rice sales soar in North America
With the rising number of Korean restaurants abroad and the global appeal of Korean food, CJ CheilJedang's processed rice product is experiencing a surge in popularity across North America. CJ CheilJedang announced on Tuesday that sales of Bibigo Cooked Sticky White Rice amounted to 160 billion won ($116 million) last year in North America, marking a 21 percent increase from the previous year, and doubling the figures for 2021. Processed rice stands as one of CJ CheilJedang's seven key
IndustryApril 23, 2024
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Samsung starts production of 290-layer V-NAND chips
Samsung Electronics, the world’s largest memory chip maker, said Tuesday it kicked off the mass production of its one-terabit triple-level cell vertical NAND, or V-NAND, which is about 50 percent denser and 10 percent more energy efficient than its predecessor that launched in 2022. “We are excited to deliver the industry’s first 9th-gen V-NAND which will take future applications leaps forward. To address the evolving needs for NAND flash solutions, Samsung has pushed the bou
TechnologyApril 23, 2024