Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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Monthly users on local streaming platforms outpace Netflix, Disney+
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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[Photo News] US Congress Rep gets Korean name
Korea International Trade Association Chairman Koo Ja-yeol (right), who doubles as LS Group's chairman, shakes hands with Joe Wilson, the US representative for South Carolina, after their meeting on ways to boost economic cooperation in supply chains between the two countries at the Trade Tower in Seoul, Wednesday. During the meeting, Koo gifted Rep. Wilson a name card engraved with the Korean name Cho Il-seon, which sounds similar to his English name and has the meaning of the "front
Jan. 25, 2024
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[Photo News] Seollal inflation
Piles of apples are displayed at a large supermarket chain store in Seoul on Wednesday. Ahead of the Lunar New Year’s holiday season next month, grocery prices have soared more than 20 percent compared to a year ago, according to price tracker Korea Price Information on Wednesday. The average price of three apples at a traditional market was 15,000 won ($11.20), a 42.86 percent surge from the same period last year. (Yonhap)
Jan. 25, 2024
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[Graphic News] Air traffic in S. Korea’s airspace up 45% in 2023
Air traffic in South Korea’s territorial airspace jumped 45 percent in 2023 from a year earlier on unleashed pent-up demand for travel following years of the COVID-19 pandemic, the Transport Ministry said. The number of airplanes that flew over the Korean airspace reached 780,635 last year, up from 539,788 a year ago, the Ministry of Land, Infrastructure and Transport said in a statement. But last year’s air traffic over Korea’s airspace has yet to recover to pre-pandemic level
Jan. 25, 2024
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Chambers call for more incentives, eased regulations in health care, renewables
Korea would be more attractive for global renewable energy and health care companies if they were given higher financial incentives and eased regulations, chiefs of foreign business lobby groups said Wednesday. The Korea Chamber of Commerce and Industry held the 2024 Foreign Chamber Day with representatives of foreign business networking organizations to share opinions on difficulties faced by global firms operating here in the fields of economic cooperation, labor, trade and regulatory appr
Jan. 24, 2024
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Samsung Biologics' profit exceeds W1tr for 1st time
Samsung Biologics’ annual operating profit topped 1 trillion won ($749 million) last year for the first time, according to the company’s regulatory filing on Wednesday. Its operating profit came to 1.14 trillion won last year, up 13 percent from the previous year. Sales also surged 23 percent during the same period. The sales figure, in particular, exceeded the full-year earnings guidance the company had announced earlier. The company previously anticipated sales to reach 3.60 trilli
Jan. 24, 2024
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[KH Explains] Financing limbo threatens W30tr Polish arms deal
South Korea's ambitious multibillion-dollar arms export deals with Poland may be at risk, as the National Assembly continues to sit dormant on a bill that must be passed in order to for the deals to come through. Having signed an initial comprehensive arms export agreement worth 17 trillion won ($12.7 billion) for tanks, howitzers and fighter jets in July 2022, the related Korean defense companies -- Hyundai Rotem and Hanwha Aerospace -- and the Polish government have been negotiating to fo
Jan. 24, 2024
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Celltrion, China’s WuXi bolster ties on ADC partnership
Celltrion said Wednesday that the company has signed a business agreement with China’s WuXi XDC to accelerate its development of antibody-drug conjugates. WuXi XDC, a 60:40 joint venture between WuXi Biologics and WuXi STA, is a Chinese pharmaceutical company that provides contract research and development manufacturing organization services, mainly on ADCs and bioconjugates. The latest agreement is an extension of a contract development and manufacturing organization deal signed in Decemb
Jan. 24, 2024
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Homeplus rolls out Lunar New Year gift sets
South Korean discount store chain Homeplus on Wednesday said it will start selling 2024 Lunar New Year gift sets from Saturday through Feb. 11, as the season of gift-giving is once again upon us. During this holiday season, Homeplus offers a curated selection of some 1,060 items at discounts of up to 50 percent. Based on consumer purchase data collected during about three weeks of pre-orders, the retailer has prepared a variety of gift sets, ranging from budget packages to high-end meat or seafo
Jan. 24, 2024
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HD Hyundai Oilbank seeks bigger footing in N. America's lubricants market
South Korean oil refinery and petrochemical firm HD Hyundai Oilbank said Wednesday it is making significant inroads into the North American lubricants market by supplying its XTeer products for HD Hyundai XiteSolution's industrial vehicles. The strategic push by the two subsidiaries of HD Hyundai aims to secure a foothold in the lubricants market traditionally dominated by major industry players, where Korean manufacturers currently hold less than a 0.1 percent share. The refinery company
Jan. 24, 2024
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[Photo News] First Samsung experience store in India
Samsung Electronics said Wednesday that its flagship brand experience store, dubbed “Samsung BKC,” has opened at Jio World Plaza Mall in Mumbai, India. The 732-square-meter site is the first of its kind in India where visitors can experience and purchase Samsung’s latest devices. Samsung said preorders for the new Galaxy S24 series exceeded 250,000 units in three days in India -- a record for the flagship smartphone there. (Samsung Electronics)
Jan. 24, 2024
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Nongshim’s Shin Ramyun hits record sales in 2023
The nation’s No. 1 ramyeon seller, Nongshim, said Wednesday that its flagship Shin Ramyun product posted record sales of 1.21 trillion won ($903 million) in 2023, a 14 percent jump from the previous year. The feat marks the second consecutive year that product sales surpassed 1 trillion won. Shin Ramyun sold about 1.66 billion packs last year globally, which is equivalent to 53 packets sold per second, the company said. Since its launch in 1986, its cumulative sales have amounted to 17.51
Jan. 24, 2024
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[From the scene] Immersive ‘Squid Game’ challenge thrills fans in LA
LOS ANGELES -- For fans of the Netflix series "Squid Game," the "Squid Game: The Trials" immersive experience at the CBS Television lot in Los Angeles is a must-visit spot for putting their competitive spirits to the test. Spanning about 3,000 square meters, the venue features "Squid Game"-inspired games, including the dalgona, marbles and glass tiles challenges. Visitors have to pass a total of six games to become the final winner. The 70-minute gameplay is made po
Jan. 24, 2024
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Posco Holdings 2023 net tumbles 48.5% amid steel slump
South Korea's top steelmaker POSCO Holdings Inc. said Tuesday its 2023 earnings nearly halved from a year earlier amid a global industry slump. Net profit stood at 1.83 trillion won ($1.37 billion) last year, down 48.5 percent from a year earlier, the company said in a regulatory filing. Sales declined 9 percent on-year to 77.13 trillion won, with operating income falling 27.2 percent to 3.53 trillion won. POSCO Holdings' 2023 operating profit was far below a median estimate of 4.09
Jan. 23, 2024
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Amazon's French warehouses fined over employee surveillance
France's data protection agency said Tuesday that it had fined Amazon's French warehouses unit 32 million euros ($34.9 million) for an "excessively intrusive" surveillance system to keep track of staff performance. Amazon France Logistique monitored the work of employees in particular through data from scanners used by the staff to process packages, according to the agency, known by its initials CNIL. Scanners alerted management of inactivity exceeding 10 minutes or the handl
Jan. 23, 2024
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Kakao Bank hits $1b in outbound remittances
South Korean internet-only lender Kakao Bank said Tuesday that the annual international transfers made on its app exceeded $1 billion last year. The figure is the highest annual overseas remittance via Kakao Bank since the company started its service in July 2017, the firm said, adding that the cumulative amount of outbound remittances on the app had reached $5.4 billion. Users of Kakao Bank can make international wire transfers to 22 countries in 12 currencies via the company's own foreign
Jan. 23, 2024
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Korean banks ready to step up their game in India
Local lenders are expanding their presence in India, the world’s fifth-largest economy, as Korea-India economic ties deepen amid the global supply chain reshuffle. KB Kookmin Bank, one of the top five lenders in Korea, will launch two new branches in India this year in Chennai and Pune. The lender has deployed six employees in the country for the setup. “An approval from local authorities came in October. We plan to open the branches in the early third quarter,” an official f
Jan. 23, 2024
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SK becomes No. 2 in market cap
SK Group has reclaimed its title as the nation’s second-largest conglomerate in terms of market capitalization, largely buoyed by its chipmaking unit SK hynix’s strong performance in recent months. According to market tracker Korea CXO Institute on Tuesday, SK Group’s market cap surged to 171.87 trillion won ($128.8 billion) as of Friday’s close, surpassing LG Group’s 167.77 trillion won on the nation’s main bourse Kospi. The figures included the value of pref
Jan. 23, 2024
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Samsung exec touts Galaxy S24 as true phone camera revolution
SAN JOSE, California -- The Galaxy S24 series is the "ultimate collection" of Samsung Electronics' artificial intelligence technology for cameras, allowing users to become "expert photographers" with just a few intuitive taps on the screen, according to the tech giant's visual solutions chief. Samsung Electronics Executive Vice President Cho Sung-dae, who is in charge of the visual solutions team, explained how the latest Galaxy S24 series employs 112 visual AI mode
Jan. 23, 2024
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[Herald Interview] Thoughtful approach keeps winning Korean investments in Indiana
"Breaking bread for some good talks has been super important in building solid relationships with Korean businesses, creating a trust that keeps them coming back to invest more," said Jillian Turner, the senior vice president of global partnerships and investments at the Indiana Economic Development Corp. Turner emphasized the importance of interpersonal dynamics in understanding the nuanced needs of Korean companies during a recent phone interview with the Korea Herald. Her primary re
Jan. 23, 2024
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[Photo News] For mutual growth
KB Kookmin Bank CEO Lee Jae-keun (right) and Korea Securities Finance Corporation CEO Yoon Chang-ho pose for a photo at the bank's headquarters in Yeouido, Seoul on Monday after signing an agreement to seek mutual growth with small and medium-sized enterprises. Under the agreement, KB Kookmin Bank will provide both financial and non-financial support to the SMEs, including reductions of loan interests and business consulting. (KB Kookmin Bank)
Jan. 23, 2024