Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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Court upholds jail term for man who attempted to murder ex-girlfriend
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[Herald Interview] Son Suk-ku chooses to be swayed by others in navigating life
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[KH Explains] Kakao’s ‘Beyond Korea’ strategy hits snag
The ongoing legal risks surrounding Kakao Corp. seem to be eating into subsidiaries' plans for global expansion, with a series of acquisition deals toppled recently. Kakao Mobility's stock purchase deal with German taxi-hailing service provider FreeNow has reportedly fallen through, with the two companies failing to come to a consensus on the final conditions. Kakao Mobility has been seeking to acquire about 80 percent of FreeNow, Europe's largest taxi-hailing platform, and the Ko
Dec. 27, 2023
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[Photo News] LG AI home manager
LG Electronics said Wednesday it will unveil its artificial intelligence smart home robot at the upcoming CES 2024 next month. The latest AI agent boasts robotics and multimodal technologies that enable it to move, learn, comprehend and engage in complex conversations. The company said the latest device will play a role as an all-around home manager and a companion to enhance users’ daily lives by lessening the burden of house chores. (LG Electronics)
Dec. 27, 2023
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[Best Brand] Innovative marketing enhances brand power
Brand power refers to the influence the name holds over the spending behavior of consumers, which can also be used to predict future spending patterns. Merely offering a good-quality product based on decades of expertise no longer entices the fickle consumers. This, on the other hand, also means there is more opportunity for lesser-known products with innovative marketing strategies to quickly advance into markets once dominated by conventional brands. Since 1994, The Korea Herald has been rel
Dec. 27, 2023
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Posco gears up to produce rare gases for chipmaking
Posco Holdings said Wednesday it has joined forces with a Chinese cryogenic equipment and engineering firm to produce rare gases essential for chip fabrication in South Korea, securing a domestic supply chain. Rare gases, or noble gases, are a group of chemically inert gases that include krypton, neon and xenon. While found in extremely small amounts in the atmosphere, these gases are widely used in the production of semiconductors, displays and satellite technology. On Friday, Posco Holdings an
Dec. 27, 2023
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JungKwanJang launches new red ginseng product using edible bird’s nests
JungKwanJang, South Korea’s leading red ginseng brand under Korean Ginseng Corp., said Wednesday that it has launched a new red ginseng product using edible bird’s nests to target the Chinese market. Swallow’s nests, in particular, have long been considered a delicacy in Chinese cuisine, and more recently they are widely used in skincare products as they contain sialic acid, a type of amino acid, as well as various minerals and collagen. The market for edible bird’s nests
Dec. 27, 2023
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[Graphic News] Auto exports hit new record in Nov. on EVs
South Korea’s car exports hit a record high in November on strong demand for premium electric cars in the US market, data showed. The combined value of car exports reached $6.53 billion in November, marking an all-time-high monthly figure, according to the Ministry of Trade, Industry and Energy. Over the January-November period, the combined car exports came to $64.5 billion, also setting a new record for the period, it added. The ministry anticipated the annual automobile shipments to hov
Dec. 27, 2023
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US supply chain review to boost Korean chip sales: analysts
The US government’s survey on its semiconductor supply chain would likely boost sales for Korean chipmakers, with the heightened surveillance on the usage of Chinese chips raising uncertainties for US tech giants, according to an analysis, Tuesday. Last week, the US Department of Commerce said it will start the survey in January to identify how US companies are sourcing so-called legacy chips -- the current-generation and mature-node semiconductors. The purpose of the analysis is to &ldquo
Dec. 26, 2023
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Samsung Biologics CEO to attend JPMorgan conference
Samsung Biologics CEO John Rim is heading to San Francisco next month to share the company’s mid-term business plans during the JPMorgan Healthcare Conference, the company said Tuesday. The JPMorgan conference, one of the largest investment events for pharmaceutical and biotechnology industries that marks its 42nd year in 2024, will be held in the US city on Jan. 8-11. Some 600 companies and 8,000 industry officials and investors are expected to attend this year’s event. This year, S
Dec. 26, 2023
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Failed Hankook takeover a lesson for conglomerates
The attempt by homegrown private equity firm MBK Partners to acquire a stake in Hankook & Co. -- the holding company behind South Korean tire giant Hankook Tire & Technology -- has failed, but it has served as a wake-up call for Korean conglomerates with poor corporate governance. MBK’s move in the last few weeks for a hostile takeover of Korea's No. 1 tire company and its demand for the improvement of Hankook’s governance structure raised some eyebrows, especially at
Dec. 26, 2023
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Taihan Cable acquires first cable ship for offshore wind power
South Korean undersea cable maker Taihan Cable & Solution said Tuesday that it has acquired Korea's first cable-laying vessel designed specifically for offshore wind power projects, addressing a critical need in the sector. Priced at 50 billion won ($38.4 million), the 6,200-ton CLV outperforms traditional cable-laying barges in enabling faster, more precise cable installation. Capable of sailing at an average speed of 9 knots under its own power, it can transport and lay cables more
Dec. 26, 2023
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Harim vows to use cash reserves for HMM’s growth
South Korean agri-food giant Harim Group reaffirmed its commitment to use container transportation and shipping company HMM's substantial cash reserves to bolster the shipping firm's global competitiveness as it moves close its acquisition deal, denying concerns about potential misappropriation of funds. “We are committed to making strategic use of HMM's 10 trillion won ($7.7 billion) reserves to navigate the current challenges in the shipping industry effectively. This mirr
Dec. 26, 2023
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[Herald Interview] Zyx Technology aims to shatter AutoCAD dominance
South Korean design software developer Zyx Technology plans to enter overseas markets next year with its own computer-aided design (CAD) program as an affordable alternative for budget conscious, small-sized architectural firms. ZyxCAD is a homegrown CAD program developed by Zyx Technology. The design program was launched in August 2022 as an alternative to AutoCAD, an industry-leading software that has dominated the global market for the past few decades. "Many companies are shifting to ch
Dec. 26, 2023
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OB’s Cass retains top post as bestselling beer for 12 years
Oriental Brewery's flagship beer brand Cass has once again secured the top spot in the domestic beer market with a market share of 42 percent this year, despite renewed competition at home after the COVID-19 pandemic, said the country's largest beer maker Tuesday. According to market research firm Nielsen Korea, Cass logged the largest market share of 42 percent in terms of retail sales during the January to November period this year. The figure also marks a 0.7 percentage point rise c
Dec. 26, 2023
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Foreign workers in S. Korea reach all-time high of 1 million
The number of foreign nationals working in South Korea reached an all-time high of nearly 1 million in 2023, though most of them were working at smaller companies, according to government data, Monday. According to the data compiled by Statistics Korea, the number of people with foreign nationalities who have jobs here reached 923,000 as of May this year, jumping 10 percent on-year to hit a record high. By nationality, ethnic Koreans with Chinese nationality constituted the largest number at 35.
Dec. 25, 2023
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Posco's 'Fantasteel' ad campaign nabs awards
Posco, South Korea's biggest steelmaker, has swept a local ad awards ceremony with its creative digital campaign that was produced in celebration of its 50th anniversary of its first steel mill. Posco's "Fantasteel" campaign -- which contains the company's achievements in steelmaking technology in Korea over the past 50 years and presents its vision for the next few decades -- grabbed the top honor, the Grand Prix, at the 2023 Korea Digital Advertising Festival on Dec. 1
Dec. 25, 2023
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BNP Paribas, HSBC face record fines for naked short selling
South Korea's financial regulator on Monday said it had imposed its largest ever fine on two Hong Kong-based investment banks for illegally practicing short selling on the domestic stock market. The Financial Services Commission said its Securities and Futures Commission decided during a meeting on Friday to fine the Hong Kong unit of French investment bank BNP Paribas and its securities affiliate operating in Korea as well as HSBC's Hong Kong arm 26.52 billion won ($20.35 million) for
Dec. 25, 2023
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LG Nova to offer glimpse into future startup tech at CES 2024
LG Nova, LG Electronics’ North American Innovation Center, will offer a glimpse into the technologies that will lead growth in the future at CES 2024, slated to be held in January in Las Vegas, the company said on Monday. At the annual consumer electronics show, LG’s US entity will open its showroom under the theme “Building a brighter tomorrow together.” Its 10 partnering startups will present their innovative technology ideas in four fields: digital health, clean tech,
Dec. 25, 2023
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Unit price of S. Korean car exports reaches record high in 2023
The average unit price of South Korean car exports is expected to hit an all-time high in 2023 thanks to stellar overseas demand for sport utility vehicles and electric vehicles, industry data showed Monday. In the first 11 months of this year, South Korea exported a total of 2.52 million units of automobiles, worth 64.5 trillion won ($49.5 billion), with the average unit price reaching 25.6 million won, according to the data from the Korea Automobile & Mobility Association. It is the first
Dec. 25, 2023
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Posco normalizes production at Pohang factory after fire
POHANG, North Gyeongsang Province -- Posco, South Korea's biggest steelmaker, said its key furnaces resumed operations in the country's major steel manufacturing complex in Pohang on Sunday after its facilities were partially suspended in the wake of a fire. The No. 2 and No. 3 furnaces were operational again starting at 2 p.m., with the No. 4 furnace to be put back into operations Sunday after some repair work and a safety check, officials said. Its steelmaking and hot rolling mills
Dec. 25, 2023
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Hanwha Ocean clinches W1.1tr deal to build 3,600-ton submarine
South Korean shipbuilder Hanwha Ocean clinched a 1.1 trillion-won ($845 million) deal Friday to build a 3,600-ton submarine for the Navy, the state procurement agency said. Hanwha Ocean signed the deal with the Defense Acquisition Program Administration (DAPA) to construct the third and last submarine under the Changbogo-III Batch-II program. The company, formerly known as Daewoo Shipbuilding and Marine Engineering, has been building two other Changbogo-III class submarines since 2021. It is the
Dec. 22, 2023