Most Popular
-
1
Key suspects grilled over alleged abuse of power in Marine death inquiry
-
2
Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
-
3
S. Korean children, teens grow taller, mature faster than before: study
-
4
Army takes group action against Hybe for neglecting BTS
-
5
Some junior doctors are returning: Health Ministry
-
6
Debate rages over ‘overly fatty’ samgyeopsal
-
7
Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
-
8
[Weekender] Korean psyche untangled: Musok
-
9
Naver will consider company benefits in deciding on selling Line shares: CEO
-
10
Woman dangling from power lines rescued by residents holding blanket
-
Japan walks back earlier claims, says export controls unrelated to NK sanctions
The first round of working-level talks between South Korea and Japan ended without progress Friday evening, with Japan retracting its earlier claims and saying its decision to impose restrictions on the export of high-tech materials to South Korea has nothing to do with North Korea.Representatives of Japan’s Trade Ministry, instead, said the export control systems of both South Korea and Japan were being mismanaged and accused Japanese exporters of violating the country’s export
July 12, 2019
-
Prolonged Seoul-Tokyo trade dispute to further affect tech sector: Moody's Analytics
Moody's Analytics said Friday a prolonged Seoul-Tokyo trade dispute would deal a further blow to the "already depressed" global tech sector.Japan began last week to apply tighter regulations on exports to South Korea of three materials used in smartphone displays and chips, in an apparent retaliation for Seoul court rulings that ordered Japanese companies to compensate Korean plaintiffs mobilized for forced labor during World War II. "Our baseline is that this dispute will not dra
July 12, 2019
-
LS Cable & System inks $100 million deal to supply submarine power cables to Taiwan
LS Cable & System won a deal worth 89 million euros ($100 million) with Denmark’s state-run energy firm, Orsted, to build a submarine power grid in Taiwan, the firm said Friday. The Korean industrial company said it had agreed with Orsted to supply submarine power cables to offshore wind farms in Changhua, a city in central Taiwan, and put them in place by 2022. The Taiwanese government plans to invest around $23 billion to increase the amount of renewable energy generated in the
July 12, 2019
-
Medytox shares stumble following reports of alleged irregularities
Medytox shares on Friday fell on news reports that the botulinum toxin maker was responsible for illegal administration of Meditoxin prior to gaining the Ministry of Food and Drug Safety’s approval.Medytox shares finished Thursday at 415,000 won ($123), 1.96 percent down from a day earlier. At one point during the day the shares fell to 391,300 won, marking the lowest point in 52 weeks. The shares continued to vacillate undecidedly throughout Friday. Medytox admitted it had administe
July 12, 2019
-
Hyundai Mobis unveils autonomous robotaxi in Russia
South Korea’s auto parts maker Hyundai Mobis unveiled its first driverless robotaxi in Russia in a joint development with Russian information technology company Yandex, it said Thursday. The two companies will test up to 100 robot taxis across the cities in Russia including Moscow by the year-end. The robotaxis were developed on the platform of Hyundai Motor’s eighth-generation Sonata that was launched earlier this year. In March, Hyundai Mobis and Yandex signed a memorandum of
July 12, 2019
-
[Herald Interview] RISE co-host Paddy Cosgrave says in-app translation service may bring more CEOs onstage
Conferences can get dull when language barriers cloud a visionary’s message.Paddy Cosgrave, the co-host of Asia’s biggest tech conference, RISE, said in a closed-door interview with The Korea Herald on Wednesday that he hopes to bring more non-English speaking CEOs onstage at the global tech conferences he holds by using conference mobile apps to expand simultaneous translation services. “The RISE app this year provides Mandarin translations for all the sessions,” Cosgrav
July 11, 2019
-
[News Analysis] Why is Korea so dependent on Japanese materials?
The aggravating trade dispute with Japan reveals some hard truths about South Korea’s lack of basic technologies despite being dubbed as a tech powerhouse, not to mention the dire need to diversify its supply channels to reduce its heavy dependence on the neighboring nation. On July 1, the Japanese government tightened the export process to Korea of three classes of hi-tech materials crucial to the production of chips and display panels and removing it from the white list. The materials in
July 11, 2019
-
JTI Korea launches smoke and odor-free vapor Ploom Tech
Japan Tobacco International Korea, the local unit of a global tobacco manufacturer, announced Thursday the upcoming release of its odor-reduced tobacco vapor product Ploom Tech.The heat-not-burn vapor product, set to release on Monday next week is said to be the first vapor product to utilize hybrid technology, in which tobacco leaves are indirectly heated through vapor.According to JTI Korea, the liquid cartridge, which does not contain nicotine, is first heated at a low temperature to emit vap
July 11, 2019
-
[News Focus] China likely to benefit from Japan’s export curbs
If Japan-imposed restrictions on exports of key tech materials to South Korea are extended in the long term, the curbs would benefit China while hurting both the Korean and Japanese economies, according to experts on Wednesday. Industry and economic experts here say that China would benefit the most from the Korea-Japan spat, as Chinese players would get a chance to step into the broken supply chain of the global electronics industry that has been led by Korean companies. According to Cho Gyeong
July 10, 2019
-
Chip firms wary of criticizing Japan curbs
An emergency meeting with President Moon Jae-in was arranged on Wednesday with chiefs of the country’s major businesses to seek short- and long-term solutions to the problem of import-dependent manufacturing chains here, but it also appeared to have placed a burden on firms caught in the diplomatic crossfire between South Korea and Japan. Some industry observers raised concerns that it could send the “wrong signal,” instigating Tokyo to take additional restrictive measures.At t
July 10, 2019
-
[From the Scene] Rising #boycottJapan campaign faces mixed reactions
Like any other ordinary day at a shopping boulevard in Gangnam, a popular district in southern Seoul, stores conducted business as usual on Monday.A flock of shoppers were busy rifling through items at summer discount deal corners and walking down the aisle of new products at stores, including ABC Mart, a Japan-owned shoes and clothing company.“A call for boycott campaigns (on Japanese goods) doesn’t really affect me,” a shopper told the Korea Herald.“In the same way that
July 10, 2019
-
Cathay Pacific sponsors homegrown startups to take part in RISE 2019
HONG KONG -- What does an airline have to gain in leveraging early-stage startups?A seemingly unlikely match, Hong Kong’s Cathay Pacific Airways has set out to foster local tech startups to shape the city into a global innovation hub and lead more people to fly to and from Hong Kong for business. “This is our home, our most important market. Success of Hong Kong translates to success of Cathay,” said the company’s Chief Customer and Commercial Officer Paul Loo, in an inte
July 10, 2019
-
Hyundai E&C clinches W3.2tr contract deal with Saudi Aramco
South Korea’s Hyundai Engineering & Construction said Wednesday that it had obtained a whopping 3.2 trillion won ($2.7 billion) deal to expand the production capacity of an offshore oil field owned by Saudi Arabia’s state-run oil company Saudi Aramco.The contract encompasses two oil development projects, Package 6 and Package 12, to be undertaken at the Marjan offshore oil field in northeastern Saudi Arabia. For Package 6, the company will expand the production capacity of an exi
July 10, 2019
-
Asiana Airlines kicks off flights to Mongolian capital
South Korea’s second-largest full-service carrier Asiana Airlines said Wednesday it has newly added a flight route to Ulaanbaatar from Tuesday -- a lucrative route monopolized by Korean Air for almost three decades. In February, the Transport Ministry gave Asiana approval to fly the highly sought-after route linking South Korea and Mongolia. The Incheon to Ulaanbaatar route is being operated with Airbus A330-300 aircraft, which can seat 290 passengers. Flights on the route will
July 10, 2019
-
S. Korea, US hold talks on competition-related issues under FTA
South Korea and the United States on Tuesday held their first formal consultations on competition-related issues under their bilateral free trade agreement, the South Korean government said.The meeting in Seoul came at the request from the US Trade Representative, which claims that procedures of South Korea's Fair Trade Commission do not allow US parties a chance to review and rebut the evidence used against them in competition-related hearings. The USTR insists this violates the Korea-US FTA th
July 9, 2019
-
Kakao says its blockchain mining process is up to 15 times faster than Ethereum
After launching its blockchain platform for enterprise services last month, Kakao said Tuesday that its service can work up to 15 times faster than Ethereum.During a press conference in Seoul, Kakao’s blockchain subsidiary Ground X suggested that its blockchain platform Klaytn’s block mining took only one-fifteenth of the time Ethereum’s did. While Ethereum’s block mining time is 15 seconds, Klaytn completes the process in a single second.The reduced block mining time res
July 9, 2019
-
Delta's Hanjin KAL stake purchase is just "investment"
Delta Air Lines' recent purchase of a stake in Hanjin KAL, parent company of Korean Air Lines, was just an investment, not a ploy to help protect the airline's management rights, according to a local activist fund on Tuesday. In its reply to a letter sent by the Korea Corporate Governance Improvement fund, Delta Air Lines said its purchase of the 4.3 percent stake in Hanjin KAL was part of its investment plan, KCGI said in a statement. On June 20 (US time), Delta announced the stake investm
July 9, 2019
-
Lotte chief visits Tokyo amid anti-Japanese sentiments in Korea
The chief of South Korean retail giant Lotte Group -- with deep family roots in Japan -- is attempting to douse the flames following a diplomatic row between Tokyo and Seoul early this month that will hamper operations of domestic conglomerates.Lotte Chairman Shin Dong-bin has embarked on a trip to the neighboring country amid the spat over Japan’s decision to restrict shipments of key materials used by Korean chipmakers and display makers, according to the firm. The chairman, along w
July 9, 2019
-
Half of Korean firms say anti-bullying act ambiguous: survey
With the new anti-office bullying act coming into force next Tuesday, over half of surveyed companies in South Korea said the regulations are ambiguous and that voluntary change within each firm should come before legal measures.According to a poll of 300 Korean firms conducted by the Korea Chamber of Commerce & Industry last week, most large conglomerates said they had made due preparations, while some 20 percent of small and midsized businesses said they were not yet ready. Almost all, or
July 9, 2019
-
HHI signs $49m deal with India for nuclear plant engines
Hyundai Heavy Industries said Tuesday it has signed a $49 million deal with Indian firm Powerica to supply emergency generators for nuclear reactors.The generators include 10 units of the 6.3-megawatt HiMsen propulsion system developed by HHI. They will be supplied to Unit 3 and 4 of the Kudankulam nuclear power plant in the southern state of Tamil Nadu, by 2022. The generators help stabilize maintenance of a nuclear reactor by supplying power to a circulating water pump during emergencies.
July 9, 2019