Most Popular
-
1
Contentious grain bill put directly to plenary meeting for vote
-
2
Yoon's approval rating plunges to all-time low
-
3
Will tug-of-war between doctors, government end soon?
-
4
Climate impacts set to cut 2050 global GDP by nearly a fifth
-
5
Trilateral talks acknowledge ‘serious’ slumps of won, yen
-
6
[Graphic News] More Koreans say they plan long-distance trips this year
-
7
[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
-
8
North Korea removes streetlights along cross-border roads with South
-
9
Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
-
10
Farming households dip below 1m for first time in 2023
-
Samsung chip plants look to stamp out carbon footprint
Chip factories have long been considered the biggest culprit in the computing industry behind climate change. Advancing abatement technologies to reduce carbon emissions is the top priority in the Samsung Electronics semiconductor unit's goal to become carbon neutral by 2050, a top official said Friday. "Treatment of gas used to manufacture semiconductor chips is our biggest focus in our spending (to achieve net-zero emissions)," Song Doo-guen, executive vice president and head of th
Sept. 18, 2022
-
Jeju Air signs MOU with Indonesian province for new route
Jeju Air Co., South Korea's leading budget carrier, said Sunday it has signed an initial pact with an Indonesian provincial government for a partnership to open a new route between the two countries. Jeju Air has signed a memorandum of understanding with North Sulawesi Province to explore opportunities to offer flights to the Southeast Asian country, the company said in a statement. The Indonesian government aims to develop new tourism sites to attract travelers from around the world under
Sept. 18, 2022
-
Hyundai E&C wins W1.9t railway deal in Philippines
Hyundai Engineering & Construction Co., South Korea's leading builder, said Sunday it has received a 1.9 trillion-won ($1.4 billion) railway order in the Philippines. Hyundai E&C will build a 56-kilometer railway connecting the capital city of Manila to the southern city of Calamba in the next six years, the company said in a statement. The company said it recently received notification that it was awarded the order from the Philippine Department of Transportation. (Yonhap)
Sept. 18, 2022
-
Seoul shares fall for 3rd day on Fed rate-hike jitters
South Korean stocks retreated 0.79 percent Friday, extending a losing streak to a third straight day, as the latest US economic data supported the view that the Federal Reserve will deliver another steep interest rate hike in next week's policy meeting. The benchmark Korea Composite Stock Price Index (KOSPI) lost 19.05 points to 2,382.78. Trading volume was moderate at 432.5 million shares worth 8.4 trillion won ($6.04 billion) with decliners outnumbering gainers 687 to 193. "The after
Sept. 16, 2022
-
NTS chief says 'no discrimination' for foreign firms
National Tax Service Commissioner Kim Chang-ki said that the tax agency will ensure transparent and impartial tax services for foreign firms operating here at a roundtable meeting with the American Chamber of Commerce in Korea on Friday. "We are thankful for the deep trust and constant investment US firms make in Korea," he said. "The NTS will continue to provide foreign firms with a world-class, transparent and fair tax system, with no discrimination." Kim was responding to
Sept. 16, 2022
-
Auto exports jump 36% in August on popularity of eco-friendly cars
South Korea's car exports jumped 35.9 percent on-year in August on brisk global demand for eco-friendly cars, data showed Friday. The value of outbound shipments of automobiles came to $4.12 billion last month, the largest ever figure for any August, according to the data from the Ministry of Trade, Industry and Energy. In terms of volume, a total of 168,155 vehicles were sold last month, up 29.1 percent from the previous year, it added. Rising demand for eco-friendly vehicles led the overa
Sept. 16, 2022
-
Won falls to new yearly low amid woes over Fed's tightening, economic uncertainty
South Korea's currency fell to a new yearly low in intraday trading Friday amid worries the US Federal Reserve will continue monetary tightening to tame inflation and its negative impact on the global economy. The local currency was trading at 1,396.1 won per dollar as of 9:50 a.m., down 2.4 won from the previous session's close. The won fell to as low as 1,399.0 won at one point, flirting with the 1,400 level that has not been breached since March 31, 2009, when it dived to 1,422.0 wo
Sept. 16, 2022
-
Seoul shares open lower on Fed rate hike jitters
South Korean stocks opened lower Friday, as the latest US economic data made it more certain that the Federal Reserve will deliver another steep interest rate hike in next week's policy meeting. The benchmark Korea Composite Stock Price Index (KOSPI) fell 17.31 points, or 0.72 percent, to 2,384.52 in the first 15 minutes of trading. US retail sales posted a higher-than-expected gain in August in the latest government release Thursday (local time), supporting the view that the Fed will push
Sept. 16, 2022
-
Unemployment rate hits all-time low in August; job growth slows
South Korea's unemployment rate hit an all-time low last month, but the pace of job growth slowed down for the third month in a row amid economic uncertainties, data showed Friday. The number of employed people stood at 28.41 million in August, up 807,000 from a year earlier, according to the data compiled by Statistics Korea. It is the highest on-year rise for any August since 2000, when the country added 848,000 jobs from the previous year. The country's job market has improved markedly after
Sept. 16, 2022
-
Import prices decline for 2nd straight month in Aug. amid falling oil prices
South Korea's import prices declined for the second straight month in August as global oil prices fell amid concerns about global economic slowdown, central bank data showed Friday. The import price index fell 0.9 percent in August from a month earlier after it declined 2.6 percent on-month in July, according to the preliminary data from the Bank of Korea (BOK). The BOK attributed the decline to falling oil prices which drove down prices of petroleum and mine products. South Korea depends o
Sept. 16, 2022
-
FSS to step up market scrutiny amid volatility
South Korea’s top financial watchdog chief said Thursday that the agency would step up checks on financial institutions bearing the bigger brunt of market volatility prompted by global inflation, while reinforcing internal oversight in the sector. The local currency hit an intraday low of 1,397.9 won against the US dollar in the onshore market before closing at 1,393.7, its lowest level since March 2009 during the global financial crisis. The benchmark Kospi fell to 2,401.83, losing 9.59 p
Sept. 15, 2022
-
Terraform founder could face ‘severe punishment,’ say legal experts
Terraform Labs founder and CEO Do Kwon now may face severe punishment with South Korean prosecutors recently charging him for violating the capital market law, not just on fraud allegations, legal experts said Thursday. The Seoul Southern District Prosecutors Office said Wednesday it has issued arrest warrants for Kwon and five others, including fellow Terraform labs founding member Nicholas Platias on charges of violating the capital market law. While a group of victims’ move to file a c
Sept. 15, 2022
-
[Photo News] After the storm
This photo provided by Posco on Thursday shows inside of a submerged steelmaking plant in Pohang, North Gyeongsang Province, on Sept. 6, when up to 110 millimeters of rain per hour was recorded in the region. Repair work is underway, the company said, targeting a full recovery in three months, after it resumed operations of three furnaces earlier this week. Flooded electricity connections dealt a heavy blow to the steelmaker, as power utilities are mostly located underneath the plants. Only 37 p
Sept. 15, 2022
-
Seoul shares down for 2nd day amid US inflation rout
South Korean stocks closed lower Thursday, paring earlier mild gains, as investors brace for more rounds of rate hikes by the US Federal Reserve after the strong US inflation data. The local currency fell slightly against the US dollar. After starting a tad higher, the benchmark Korea Composite Stock Price Index (KOSPI) slipped 9.59 points, or 0.4 percent, to 2,401.83. Trading volume was moderate at 417.7 million shares worth 7.3 trillion won ($5.23 billion) with decliners outnumbering gainers 4
Sept. 15, 2022
-
Nature meets science at Eco Farm City
Having studied eco-friendly farming techniques for 20 years, agricultural corporation Eco Farm City has developed what it calls “KDS convergence farming.” The KDS convergence farming combines primary industries of agriculture, fisheries, livestock, timber and regional specialties with secondary industries of manufacturing and processing, as well as the tertiary industry of service. Unlike conventional farming, the nature-meets-science method uses cutting-edge facilities and technolog
Sept. 15, 2022
-
LG Uplus vows to go all in on platform businesses
LG Uplus, South Korea’s third-largest telecom operator by market share, has pledged to increase the sales proportion of non-telecommunication services to 40 percent of the total by 2027 with a focus on developing platform businesses. “Now moving beyond the area of traditional telecom businesses, we are looking to open up the era of ‘U+3.0’ that creates data- and technology-based platforms and services centered around customers to discover future growth engines,” sa
Sept. 15, 2022
-
Incheon Airport's customer service certified with highest mark by ACI
Korea Herald correspondent KRAKOW, Poland-- Incheon Airport has become the world’s first airport to be granted level 5 Customer Experience Accreditation by the Airports Council International on Wednesday, in recognition of its customer service and systematic operations to cope with increased travel demand in the post-pandemic era. This is the first time that the ACI has granted the highest level since Customer Experience Accreditation began in April 2019 to evaluate world airports’ c
Sept. 15, 2022
-
Woori Card partners with Korean singer IU to attract Gen Z
Woori Card has partnered with K-pop singer and actor IU for a new credit card campaign to catch eyes of Generation Z and millennial customers, the firm said Thursday. The campaign dubbed “Nu I&U” will involve social media contents featuring the singer and a credit card with a list of perks for its users. The credit card offers its users a maximum 1 percent cashback regardless of the previous month’s total purchases. The annual fee is 12,000 won ($8.61). Other benefits includ
Sept. 15, 2022
-
VW Korea launches its first electric SUV
In its first debut outside of Europe, Volkswagen Korea launched its pure electric sports utility vehicle, ID.4, in Seoul on Thursday, stressing that the local market is "essential" for the German carmaker's e-mobility business. "Korea is one of the fastest pioneering EV countries. We decided to make sure we have our first ID.4 outside of Europe (in South Korea), as South Korea is essential for Volkswagen's e-mobility business," said Dr. Silke Bagschik, head of product line e
Sept. 15, 2022
-
Hyundai wins $3.5m for air pollution reduction project in the US
Hyundai Motor Group said Thursday that it has won $3.5 million in funding from the US Environmental Protection Agency (EPA) to participate in an air pollution reduction project. Under the project, the Korean carmaker will replace five diesel trucks with its hydrogen-powered Xcient Fuel Cell trucks, in California, by the third quarter of 2023. Under EPA’s Targeted Airshed Grant funding program, which began in 2015, the US aims to fund experiments for emissions reduction in cities with the
Sept. 15, 2022