Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Medical standoff deepens as doctors reject new med school plan, talks
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Korean, Romanian leaders discuss defense tech, nuclear energy
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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. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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LS Eco Energy wins $30.51m supply deal to supply Denmark's Energinet
LS Eco Energy, a subsidiary of LS Cable & System, announced Wednesday that it is supplying extra high voltage cables to Energinet, a Danish state-owned transmission system operator of electricity and natural gas, over the next three years in a deal worth $30.51 million deal. The contract follows another Danish deal worth $13 billion signed earlier this month. The demand for EHV cables has been growing substantially in Denmark thanks to the nation’s growing infrastructure projects -- pa
April 17, 2024
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Chanel, Louis Vuitton see muted growth in Korea
Luxury fashion houses reported a slowdown in sales growth in Korea after years of upbeat sales that peaked during the COVID-19 pandemic, according to recent earnings reports. “Consumption of expensive luxury products soared over the past few years, particularly after the COVID-19 pandemic. But, luxury purchases started to slow down last year as consumer confidence remained low amid economic woes,” an industry source said on the condition of anonymity. The two largest luxury brands in
April 16, 2024
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Line Next redefines digital market in Web3 era
Line Next, the Web3 unit of Japanese-based LY Corp., has redefined the digital market with its mobile service Dosi, which made its official debut in January this year. Line Next says it has transformed Dosi from an NFT platform into a dynamic digital service that integrates Web3 technology with existing web features. Seeking to expand the non-fungible token ecosystem, Line Next is paving the way to lead the Web3 market by offering differentiated services and exclusive digital perks users want. T
April 16, 2024
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Pineapple, mango imports surge to record highs in March
South Korea witnessed its highest-ever import figures for pineapples and mangoes in March, largely driven by the government’s recent efforts to address the soaring prices of homegrown apples by diversifying demand toward alternative options. According to the Korea Customs Service on Tuesday, the import volume of pineapples reached 8,686 tons, worth $8.68 million, in March, up 44.7 percent from the previous year, marking a record high. Imports of mangoes also more than doubled to 6,264 tons
April 16, 2024
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SK hynix sees 30% surge in market cap in Q1
South Korea’s total market cap increased by nearly 100 trillion won ($72 billion) during the first quarter of this year, backed by jumps in stock prices in key industries, including semiconductors, data showed Tuesday. According to a report from local corporate tracker Korea CXO Institute, the combined market cap of 2,692 local firms jumped 96 trillion won during the January-March period to reach 2,599 trillion won. The figures exclude the value of preferred shares. The number of stocks wi
April 16, 2024
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[Photo News] Kyobo Life homecoming day
Kyobo Life Insurance CEO and Chairperson Shin Chang-jae (second row, second from left) poses for a picture with federation officials and former athletes during a ceremony celebrating the 40th anniversary of the Kyobo Life Cup Dream Sports Competition, at the Four Seasons Hotel in Jongno-gu, Seoul, Tuesday. Since 1985, the insurer has contributed 12 billion won ($8.6 million) to support 148,000 aspiring young athletes through its social contributions program. (Kyobo Life Insurance)
April 16, 2024
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Mom’s Touch opens first store in Tokyo
South Korean chicken and burger chain Mom’s Touch announced Tuesday that it has entered into the Japanese fast-food restaurant market by opening its first direct store overseas in Shibuya, Tokyo. The new venue, which used to be the former site of McDonald's Japan for 39 years, spans approximately 418 square meters of floor space and includes 220 seats distributed over three floors. Strategically located near Shibuya Scramble Square and Shibuya Station, the bustling hub of the Japanese
April 16, 2024
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ShinWon accelerates global expansion with big ESG push
Amidst increasing global awareness of corporate responsibilities across various sectors, South Korean fashion company ShinWon Corporation has been actively involved in extensive social initiatives at home and abroad. On International Women's Day in March, ShinWon's headquarters and its overseas subsidiaries organized various activities to commemorate advancements in women's rights and equality. In Vietnam, ShinWon's two production plants hosted a grand gala concert and a post
April 16, 2024
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S. Korea makes positive assessment of $6.4 bln grants for Samsung Electronics
South Korea on Monday reacted positively to a US plan to award up to $6.4 billion in grants to support Samsung Electronics Co.'s chipmaking investment in central Texas, calling it a "favorable" result. The assessment came after Washington said it has reached a nonbinding preliminary agreement with Samsung to provide the grants under the CHIPS and Science Act to support the tech giant's expected investment of more than $40 billion, in the establishment of a "leading-edge
April 15, 2024
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US confirms $6.4 billion chip subsidy for Samsung
The US government announced Monday that it will award up to $6.4 billion to Samsung Electronics for its chip fabrication facilities in Taylor, Texas. "The return of leading-edge chip manufacturing to America is a major new chapter in our semiconductor industry," said White House National Economic Adviser Lael Brainard in a press briefing. US Secretary of Commerce Gina Raimondo also revealed that the subsidy plan, coming under the US Chips Act, will support Samsung's two chip produ
April 15, 2024
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Hanlim, Kazakhstan partner on greenhouse gas reduction project
Hanlim Architecture Group said Saturday it was embarking on a joint collaboration with Kazakhstan's environmental group KMG and the city of Shymkent on a landfill greenhouse gas reduction project. The partnership went through a joint project agreement, which was marked by a visit to the landfill site in Shymkent, Kazakhstan, by KMG Chairman Choi Ik-jun, Hanlim Architecture Group Chairman Park Jin-sun, and other officials. During the site visit, Chairman Park detailed the project’s dev
April 15, 2024
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Greyd’s video platform helps Korean sellers go global
Greyd, a social commerce platform developed by Seoul-based software developer Arbaim, aims to secure a bigger footing in overseas markets as it offers an effective marketing tool for Korean sellers that is also entertaining to attract global customers. Short-form videos, typically defined as any video under 90 seconds in duration, have become increasingly popular on a variety of social media platforms, including TikTok, YouTube and Instagram. Advertisers are also turning their eyes to the new ty
April 15, 2024
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[Photo News] 23 years, and more
Incheon International Airport Corp. CEO Lee Hag-jae (third from left), Hana Financial Group Chairman Ham Young-joo (fourth from left) and Hana Bank CEO Lee Seung-lyul (third from right) pose for a picture at the opening ceremony of Hana Bank's relocated branch at Incheon Airport on Monday. Hana Bank stands as the only bank to have operated continuously for 23 years at the airport since its inauguration in 2001. (Hana Bank)
April 15, 2024
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KAI inks W1tr eVTOL parts supply deal with Brazil's Eve
Korea Aerospace Industries announced Monday that it signed a contract with Eve Air Mobility to supply structural components for electric vertical take-off and landing aircraft. Eve, established by the Brazilian aerospace corporation Embraer, leads in urban air mobility industry with the largest customer base. With the undergoing development of electric vertical take-off and landing (eVTOL) aircraft, the company aims to put the first vehicles into service by 2026. Having previously supplied major
April 15, 2024
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Samsung, LG showcase built-in lineup at Milan Design Week
Samsung Electronics and LG Electronics, the leading home appliance giants in Korea, are participating in this year’s Milan Design Week this week to showcase their new built-in appliances incorporating artificial intelligence and connectivity. Milan Design Week is one of the largest international design and furniture exhibitions, held in the city in northern Italy with the participation of some 2,300 companies. This year the event runs from Tuesday to Sunday. The tech giants have also set u
April 15, 2024
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HD Hyundai expands solar power business
HD Hyundai Energy Solution, a solar energy affiliate under South Korean shipbuilding conglomerate HD Hyundai, has recently completed the installment of rooftop solar power systems at CJ CheilJedang’s two plants, the company said Monday. With an installed capacity of 2.7 megawatts, the rooftop photovoltaic system can generate 3.5 gigawatts and cut down carbon emissions by 1,607 tons per year. According to HD Hyundai Energy Solution, the solar power systems will be operated under leases, so
April 15, 2024
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[Hello India] Venturing into India's regulatory landscape
The Indian government ostensibly fosters foreign investment to fuel economic expansion, yet, stringent and unclear regulations often result in mixed signals for foreign investors, observed Brian K. Oh, a senior lawyer at major Korean law firm Jipyong. "While the Indian government encourages foreign participation, particularly to strengthen the domestic manufacturing industry, strict compliance, especially in the tax system, poses significant obstacles," Oh said in a recent interview wi
April 14, 2024
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Korean steel companies' earnings expected to dip in Q1
Earnings of Korean steel companies in the first quarter are expected to fall due to increased prices of raw materials and the sluggish construction market, according to reports from local securities companies, Sunday. Analysts had a bleak outlook for Posco, the country's steel giant, expecting that both sales and operating profit will drop from the previous year, when its sales and operating profit came to 15.5 trillion won ($11.2 billion) and 338 billion won, respectively. Due to the decre
April 14, 2024
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HD Hyundai to develop uncrewed surface vessel by 2026
HD Hyundai has teamed up with Palantir Technologies, a US software company, to develop uncrewed surface vessels by 2026, the Korean shipbuilding conglomerate said Sunday. Officials from HD Hyundai and Palantir signed a memorandum of understanding at the US side’s office in Washington, DC, on Thursday. The two sides plan to develop reconnaissance USVs by 2026 and expand their portfolio to combat USVs later on. In doing so, Avikus, an autonomous navigation solutions developer that was launch
April 14, 2024
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CJ begins production of kimchi in Australia, US
CJ CheilJedang said Sunday that it has started local production of kimchi, under the brand Bibigo, in Australia, while reformulating its existing kimchi products exported from Korea to the country. The company is responding to growing demand for freshly pickled kimchi in Australia by using local ingredients, distinguishing these products from those conventionally made in Korea for export. The new locally sourced and manufactured Bibigo Sliced Kimchi, now available in Australia, comes in two size
April 14, 2024