Most Popular
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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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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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Celltrion’s anti-cancer biosimilars win multiple tenders in Europe
Celltrion said Thursday that the company’s three oncology biosimilar products -- Herzuma, Truxima and Vegzelma -- are making their foray into key European markets after winning multiple bids there. Celltrion secured bids in France to supply its cancer-fighting biosimilars to five regional drug purchasing organizations for public hospitals. Both Herzuma and Vegzelma will be supplied to two French public health agencies -- Graps and GAULoYS -- while Vegzelma alone won tenders from Grecaps, G
Jan. 18, 2024
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[Photo News] Honoring legacy of Lotte founder
Lotte Group Chairman Shin Dong-bin pays tribute to the group's late founder and honorary Chairman Shin Kyuk-ho, during a memorial service held at the retail giant's headquarters in southern Seoul on Thursday. The self-made entrepreneur passed away at the age of 97 on Jan. 19, 2020. (Lotte Group)
Jan. 18, 2024
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Samsung unveils AI-powered Galaxy, sets out to create new standards
SAN JOSE, CALIF. – Samsung Electronics on Wednesday unveiled the new flagship Galaxy S24 smartphone, its first smartphone powered by artificial intelligence, bringing generative AI to the everyday life of its users. The South Korean tech giant held its Galaxy Unpacked 2024 event at the SAP Center in San Jose, California, with some 2,000 journalists and industry people in attendance. It is the first time that Samsung has held its most important unveiling event of the year in Silicon Valley,
Jan. 18, 2024
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Budget carrier Jin Air logs record earnings in 2023 on brisk demand
South Korean budget airline Jin Air Co. said Wednesday it posted record earnings in 2023 on strong demand, shaking off the fallout of the coronavirus outbreak. Net income came to an all-time high of 135.8 billion won ($101 million) on a separate basis last year, the first black ink in five years, the low-cost carrier unit of top full-service airline Korean Air Co. said in a regulatory filing. Sales also hit a record high of 1.28 trillion won, up 115 percent from a year earlier and even up 40.3 p
Jan. 17, 2024
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Woori, BC improve profits in overseas card business
As local card issuers struggle to seek new growth engines on foreign ground, a handful saw improvements in 2023. Making a surprise breakthrough overseas last year was Woori Card, which posted a cumulative net profit of around 6.25 billion won ($4.64 million) as of the third quarter through its foreign subsidiaries in Myanmar and Indonesia. The figure was up by almost 78 percent on-year. Driving the flourish was Woori Finance Indonesia, the Korean card company's newly launched Indonesian cor
Jan. 17, 2024
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Hanwha heir maps out net-zero vision at Davos
Hanhwa Group Vice Chairman Kim Dong-kwan unveiled a new vision for the decarbonization of shipbuilding and outlined Hanwha’s plans to build a zero-emissions gas carrier, during the 2024 World Economic Forum held in Switzerland on Wednesday. The new vessel will be the industry’s first to be powered entirely by alternative fuels, using Hanwha’s proprietary green technology, according to Kim. Speaking at the Davos Forum under the title "The First Fossil-Free Ship on Water,&rd
Jan. 17, 2024
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Korea’s arms exports to Poland hit W1.5t in 2023
South Korea sent arms exports worth more than 1.5 trillion won to Poland last year, according to data compiled by a trade association, Wednesday. Backed by the increase in arms exports, Poland has also become the source of South Korea’s fifth-biggest trade surplus after the United States, Vietnam, Hong Kong and India. The Korea International Trade Association’s data said the combined exports to Poland reached $9 billion in 2023, up 14.8 percent from the previous year. The growth is l
Jan. 17, 2024
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HD Hyundai CEO talks global decarbonization efforts at Davos
Chung Ki-sun, vice chairman and CEO of the Korean shipbuilding and energy conglomerate HD Hyundai, attended the 2024 World Economic Forum in Davos, Switzerland, on Monday, where he discussed global collaborations in decarbonizing the transportation and logistics industries, according to the company on Wednesday. This engagement follows Chung’s address at the CES 2024 in Las Vegas last week, where he highlighted HD Hyundai's commitment to establishing a hydrogen energy ecosystem and de
Jan. 17, 2024
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[Photo News] Maritime heroes
S-Oil CEO Anwar A. Al-Hejazi (fifth from right, second row) and maritime officers of the Korea Coast Guard during a ceremony honoring their heroic actions at a Seoul hotel on Wednesday. Eight maritime officers will be recognized this year and offered a combined 90 million won ($67,000) in cash prizes. (S-Oil)
Jan. 17, 2024
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Hanjin Logistics hires China, US specialists for global expansion
Hanjin Logistics Corp., an affiliate of the nation’s airline-to-logistics conglomerate Hanjin Group, said Monday it has hired two global specialists as part of efforts to enhance its presence in overseas markets, especially the US and China. Rone Jeong, a China specialist, joined Hanjin in December and will be tasked with ramping up the shipper’s presence in Asia by connecting with more air and ocean shipping clients, as well as cross-border sellers based in China. Jeong earned an MB
Jan. 16, 2024
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OCI-Hanmi merger aims for Korean version of Bayer
OCI Group, a chemical, solar power and electric car battery material maker, looks to merge with drugmaker Hanmi Pharmaceutical Group, as the two entities seek business synergies to create the Korean version of Bayer, the German chemicals-to-pharmaceuticals giant. On Friday, OCI Holdings and Hanmi Science, the holding units of the two entities, made a surprise announcement that they were merging through a stock acquisition and new share issuances. Under the agreement, OCI Holdings is to acquire a
Jan. 16, 2024
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KEB Hana Bank to tap into Hungary in Q1
KEB Hana Bank said on Tuesday it will open a new overseas branch in Hungary's capital Budapest within the first quarter of this year. One of South Korea's top four commercial lenders, Hana will be the third to make inroads into the Central European country, following Shinhan Bank and Woori Bank. The state-owned Korea Development Bank also operates a local branch there. This marks Hana's first new overseas branch in almost two years, since it set up a Taiwan office in April 2022. H
Jan. 16, 2024
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[Herald Interview] Veteran trade lawyer urges readiness for heightened geopolitical uncertainty
Growing geopolitical risks are having profound impacts on the global economy, affecting policies, trade and competition in markets. In the business world, legal disputes across borders are likely to increase against this backdrop, and geopolitical factors may also affect how these cases play out, John Quinn, a veteran trial lawyer who specializes in patent and corporate law, said in a recent interview with The Korea Herald. Quinn founded Quinn Emanuel Urquhart & Sullivan, one of the top liti
Jan. 16, 2024
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[Photo News] New year dumplings
Standard Chartered Bank Korea CEO Park Jong-bok (third from left) attends a dumpling-making event to celebrate the new year at the bank’s headquarters in Seoul on Monday. As part of the bank’s “Diversity & Inclusion” drive, the event invited multicultural families and employees to share Korea’s traditional culture. The bank has been cooperating with the Jongnogu district office to bring the local community closer together. (Standard Chartered Bank Korea)
Jan. 16, 2024
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Celltrion Holdings pushing for listing on Nasdaq: sources
Celltrion Holdings, the parent company of major South Korean pharmaceutical company Celltrion Inc., is pushing for a listing on the Nasdaq stock exchange, industry sources said Monday. Celltrion Holdings' Chairman Seo Jung-jin announced the company's initial public offering plan during an event hosted by the Federation of Korean Industries a day earlier, according to the sources. Seo said the company will push for an IPO on the tech-heavy Nasdaq around the end of this year at the earli
Jan. 15, 2024
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Samsung family members sell W2.7tr worth of shares in group units in block deal
Three members of Samsung Group's founding family have sold their shares totaling 2.7 trillion won ($2 billion) in group affiliates, including Samsung Electronics, in an apparent bid to pay inheritance taxes. Samsung Electronics said in a regulatory filing Monday that Hong Ra-hee, the mother of Samsung Electronics Chairman Lee Jae-yong, and her two daughters -- Hotel Shilla Co. CEO Lee Boo-jin and Lee Seo-hyun, chief of the Samsung Welfare Foundation have unloaded a combined 29.8 million sha
Jan. 15, 2024
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Harvard Business School studies CJ's K-food success
Korean food giant CJ CheilJedang's success in globalizing its K-food portfolio has been recently chosen as a subject for a case study at a Harvard Business School lecture in the US. This is the first time a Korean food brand to be featured in such a capacity at the HBS, according to CJ CheilJedang. Titled "CJ Foods: The Path to Global Food Leadership," the research delves into the company's management strategy, achievements, and the secrets behind its success in pioneering overs
Jan. 15, 2024
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[CES 2024] K-water helps startups gain global reach at CES
Korea Water Resources, the state-run water management agency also known as K-water, joined this year’s CES, the world’s largest tech show, to support Korean startups to expand their presence in global markets. During the four-day event, K-water set up a 232-square-meter pavilion at Eureka Park, where entrepreneurs and budding startups can connect with mentors, investors, and corporate leaders. This is the second year of the agency has hosted its booth at the CES. The water agency o
Jan. 15, 2024
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[CES 2024] LG Innotek’s CES booth attracts more than 60,000 visitors this year
LG Innotek, the electronic component manufacturing unit under LG Group, said Monday that it had attracted more than 60,000 visitors to its exhibition booth during the CES 2024 tech show last week, a threefold increase from a year before. “At this year’s CES, LG Innotek has positioned itself as a leading company in the field of future mobility as well as accelerating the acquisition of potential customers with highly scalable basic technologies,” said Moon Hyuk-soo, CEO of LG In
Jan. 15, 2024
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KFS plants sandalwood in East Timor for better future
The Korea Forest Service on Friday celebrated East Timor’s National Day of Sandalwood and Forestry by planting sandalwood, the Southeast Asian country’s national tree, with local officials. Sandalwood, prized for its distinctive fragrance, is used for perfumes, incense, cosmetics, medicines, and furniture. The tree holds considerable cultural, economic, and historical importance for the Timorese people. Unlike other regions, sandalwood is widely distributed up to 1,300 meters above s
Jan. 15, 2024