Most Popular
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Can Korea break away from apartment fixation?
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BTS members dominate charts, award shows despite military service
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Assembly clash looms as opposition pushes vote on W4tr budget cut
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[Reporter’s Notebook] Inside Korea’s diplomatic failure at Japan’s memorial ceremony
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Hyundai-Kia may face 19% profit loss from US tariffs: report
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Does cross atop Christmas tree at Seoul Plaza reflect religious bias?
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[Herald Interview] Director of 'Jeongnyeon: The Star is Born' discusses bringing together viewers across ages, genders
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Who helped bring star-studded K-drama series 'The Trunk' to life?
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[AtoZ into Korean mind] ‘Tell me I fit in'
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(G)I-dle confirms full-unit contract renewal at MMA
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[Herald Interview] ‘BYD will set no sales target in Korean debut year’
CHONGQING, China -- Chinese electric vehicle maker BYD will not focus on sales volume when it debuts in the Korean passenger car market early next year, the EV giant’s Asia Pacific head says. “We will not set a sales target for our first year (in Korea), “said Liu Xueliang, general manager of BYD Asia Pacific auto sales division, in a group interview with Korean reporters at BYD’s headquarters in Shenzhen, China, Wednesday. “Our hope is to give Korean customers hand
MobilityNov. 25, 2024
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[Photo News] Hyundai, Toyota chiefs at WRC finale
Hyundai Motor Group Executive Chair Chung Euisun (left) greets Toyota Motor Corp. Chairman Akio Toyoda Sunday at the Toyota Gazoo Racing Service Park in Nagoya as the final round of the World Rally Championship, FORUM8 Rally Japan 2024, concludes. Thierry Neuville and co-driver Martijn Wydaeghe of the Hyundai World Rally Team won the season’s drivers’ and co-drivers’ championships, a first for Hyundai since its WRC debut in 2014. The event, held on the challenging tarmac stages
MobilityNov. 24, 2024
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
Samsung Electronics, the world's largest memory chip maker, is expected to supply its cutting-edge chips to the top graphics processing unit maker Nvidia soon, stepping closer to securing a footing in the lucrative AI chip market. Speaking on the sidelines of a convocation ceremony at Hong Kong University of Science and Technology on Saturday, Nvidia CEO and founder Jensen Huang told Bloomberg Television that the company is "working as fast as it can to certify Samsung's AI memory
IndustryNov. 24, 2024
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S. Korea leads world in industrial robot adoption: study
South Korea leads the world in industrial robot adoption, with 1,012 robots per 10,000 employees deployed in 2023, according to a global study. The World Robotics 2024 report, presented by the Frankfurt, Germany-based International Federation of Robotics, reveals that the Asian country’s robot density far surpasses other nations. Singapore ranked second with 770 robots per 10,000 employees, followed by China at 470 robots per 10,000 employees. “Robot density serves as a barometer
IndustryNov. 24, 2024
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Doosan’s restructuring plan clears regulatory hurdle, awaits shareholder approval
Doosan Group’s ambitious corporate restructuring plan, which will separate Doosan Bobcat from Doosan Enerbility and merge it into Doosan Robotics, is entering its final stages. Following regulatory approval last Friday, the proposal now awaits a vote at a shareholders’ meeting on Dec. 12, marking the completion of a process that began four months ago. The restructuring process has undergone six amendments to its securities filings since the plan was first announced on July 11, as Doo
CompaniesNov. 24, 2024
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Woori Bank CEO to step down amid legal turmoil over loan scandal
Woori Bank CEO Cho Byung-kyu is stepping down in disgrace as legal risks surrounding the bank and its parent group intensify. According to industry sources on Sunday, the board of Woori Financial Group, the holding company of Woori Bank, on Friday decided against reappointing Cho following the expiration of his current term at the end of this year. The decision came hours after local prosecutors filed an arrest warrant for former Woori Financial Chairman Son Tae-seung on charges of breach of tru
IndustryNov. 24, 2024
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Purme Foundation honored with HD Hyundai charity award
The Purme Foundation, a South Korean nonprofit dedicated to helping people with disabilities lead independent lives, has been awarded the Grand Prize at the 2nd annual HD Hyundai Honor Awards. The announcement was made Sunday by the HD Hyundai 1% Nanum Foundation, which organizes the awards. The HD Hyundai Honor Awards were created to spotlight individuals and organizations making a real difference in their communities. Winners are chosen for their efforts to tackle social challenges and promote
CompaniesNov. 24, 2024
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Job creation lowest on record among under-30s
The number of newly hired workers in their teens and 20s marked the lowest figure since an official tally has been kept since 2018, a government data showed Sunday. A total of 1.45 million new hires among people under the age of 30 occurred in the second quarter of this year, down 8.6 percent from 1.59 million in the same quarter in last year, according to the Korean Statistical Information Service data by the Statistics Korea. The number of existing jobs held by the same worker for Q2 marked
EconomyNov. 24, 2024
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Hyundai Motor’s Genesis US push challenged by Trump’s tariff hike: sources
The US sales expansion of Hyundai Motor Company’s luxury brand, Genesis, may face setbacks with President-elect Donald Trump’s proposed tariff hikes, according to industry sources Friday. The incoming Trump administration, set to begin its term on Jan. 20 next year, reportedly plans to implement up to 20 percent tariffs on most goods from other countries in line with its campaign pledges. Currently, Genesis exports most of its vehicles manufactured in Korea to the US. Hyundai Motor&r
MobilityNov. 22, 2024
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Daewoo E&C chair honored in India for boosting bilateral economic ties
South Korean builder Daewoo Engineering & Construction said Friday that Chairman Jung Won-ju was honored with the Mahatma Gandhi International Award in recognition of his efforts to strengthen economic cooperation and exchanges between South Korea and India. The award, an accolade presented by the New Delhi-based Non-Resident Indians Welfare Society, recognizes international figures who foster mutual understanding and strengthen cultural and economic ties between India and other nations. Jun
CompaniesNov. 22, 2024
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SK chief underlines power of 'design thinking' amid global uncertainties
SK Group Chairman Chey Tae-won suggested responding to deepening global uncertainties with "design thinking" at the annual Tokyo Forum on Friday. “Most people think design and business are separate disciplines, but both fundamentally share the characteristic of creating new ventures with limited resources,” the chairman said in his opening speech at the event in Tokyo. Chey emphasized the importance of design thinking in the business domain, stating, “CEOs must act
IndustryNov. 22, 2024
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Hanjin inks partnership with DHL to boost logistics competitiveness
Hanjin Logistics Corporation said Friday it has signed a strategic partnership agreement with DHL Supply Chain Korea, to strengthen collaboration in logistics operations and expand its network in South Korea. The agreement will focus on key industries, including pharmaceutical, semiconductor, consumer goods, automotive and eco-friendly logistics, the company said. Through the partnership, the two companies plan to jointly target new customers, improve logistics efficiency for existing clients, a
IndustryNov. 22, 2024
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Hanwha Ocean drops police complaint against HD Hyundai in destroyer contract bid
Hanwha Ocean said Friday it withdrew its police complaint against rival HD Hyundai concerning the bidding process for the 8 trillion won ($5.7 billion) next-generation Korean destroyer (KDDX) project. In March this year, the shipbuilder filed a complaint requesting an investigation into HD Hyundai executives’ involvement in leaking Hanwha Ocean’s confidential materials related to the KDDX bid, hosted by the Defense Acquisition Program Administration, in 2013. Nine HD Hyundai employee
IndustryNov. 22, 2024
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OpenAI in talks with Samsung to power AI features, report says
OpenAI, the creator of ChatGPT, has reportedly engaged in discussions with Samsung Electronics to integrate artificial intelligence capabilities into Samsung’s electronic devices, according to a report Friday. This move could position OpenAI as a potential challenger to Google, the leading player in the browser and search markets. The discussions were said to mirror a recent agreement between OpenAI and Apple, where OpenAI’s technology powers Apple Intelligence features on new device
TechnologyNov. 22, 2024
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AmCham seminar discusses US-Korea trade outlook for Trump’s 2nd term
The American Chamber of Commerce in Korea hosted a seminar Wednesday in Seoul, partnering with local law firm Kim & Chang to explore key trade and tariff policy changes expected under a second Trump administration. The session, which drew attendance from local companies seeking to navigate the evolving US-Korea economic relationship, focused on anticipated shifts in US trade policy and their implications for Korean businesses. "Given President Trump’s campaign promises and his fir
IndustryNov. 22, 2024
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Seoul shares rise nearly 1% to top 2,500 on foreign buying
South Korean stocks rose nearly 1 percent to top 2,500 points Friday as foreign investors returned to net buyers for the first time in 11 sessions. The local currency fell to surpass 1,400 won against the US dollar. The benchmark Korea Composite Stock Price Index gained 20.61 points, or 0.83 percent, to close at 2,501.24. It is the first time that the main index topped the 2,500-point threshold since it ended at 2,531.66 on Nov. 11. Trade volume was moderate at 534.9 million shares worth 7.8 tri
MarketNov. 22, 2024
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Kia EV9 GT marks world debut at LA Motor Show
Hyundai Motor Group’s subsidiary Kia showcased the EV9 GT, the high-performance version of its large electric sport utility vehicle, at the Los Angeles Auto Show on Thursday. “The EV9 GT boasts the charm of the three-row EV9 and adds driving excitement for car enthusiasts,” stated Steven Center, chief operating officer and executive vice president of Kia America. Since its debut last year, the Kia EV9 has been given the acclaimed title of 2024 North American Utility Vehicle of
MobilityNov. 22, 2024
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Celltrion’s Prolia, Xgeva biosimilars receive approval in Korea
South Korean biosimilar giant Celltrion announced Friday that its biosimilars, Stoboclo and Osenvelt, have been approved by the Ministry of Food and Drug Safety. The two biosimilars, referencing Amgen’s Prolia and Xgeva, respectively, are the first denosumab biosimilars to be approved in Korea. Prolia is used to treat osteoporosis in postmenopausal women and increase bone density in men, while Xgeva is prescribed to prevent skeletal-related complications in cancer patients with bone metast
IndustryNov. 22, 2024
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LG Innotek invests W376b for Vietnam facility
LG Innotek said Friday it would invest 375.9 billion won ($268.3 million) in a facility in Vietnam to respond to new models in the optical solutions business and enhance its competitiveness. The investment period will extend until Dec. 31. of the following year. The new investment is part of the company’s previously announced plan to invest 1.3 trillion won in expanding its production subsidiary in Hai Phong, Vietnam. The Vietnam production facility primarily manufactures camera modules. T
IndustryNov. 22, 2024
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Insurance firms' lending down sharply in Q3
Loans extended by insurance companies in South Korea decreased sharply in the third quarter from a year earlier amid high interest rates and tightened lending rules, data showed Friday. Insurers' outstanding loans reached 266.9 trillion won ($191.4 billion) as of the end of September, down 6.4 trillion won from a year earlier, according to data from the Financial Supervisory Service. The figure also marks a 0.5 trillion-won decline from three months earlier. The on-year decrease was attri
EconomyNov. 22, 2024