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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[Herald Interview] Why Toss invited hackers to penetrate its system
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[Graphic News] 77% of young Koreans still financially dependent
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Korean, Romanian leaders discuss defense tech, nuclear energy
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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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How will Hyundai’s entry reshape used car market?
South Korea’s used car market, which has long been dominated by brick-and-mortar dealers, is bracing for a major change after large companies, especially carmakers with extensive sales networks and quality control systems, have gotten the green light to enter the market starting next year. Industry watchers are pinning high hopes on the fresh entry of large companies -- the outcome of a 10-year tug of war -- to drastically improve transparency in the whole transaction process to be
May 1, 2022
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The Korea Herald, AmCham Korea to hold Metaverse Forum 2022
With the growing buzz around the metaverse driven by every sector of industry around the world, The Korea Herald and the American Chamber of Commerce (AmCham) in Korea are co-hosting a forum on Monday to discuss what the hyper-interactive virtual world holds for the future. The two-hour forum, held from 1 p.m. at Four Seasons Seoul, has invited a number of business leaders and experts, who are leading the rise of the metaverse to share their insights on the recent frenzy and how it will shape
May 1, 2022
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Seegene eyes US facility for molecular diagnostics
South Korea biotech firm Seegene is expected to build production facilities for molecular diagnostics in West Coast of the US in a bid to expand its presence in the all-important market, its US chief hinted in a recent media interview. “Seegene Technologies will move beyond serving as a distribution channel of Seegene-made products and self-produce bio products tailored to the needs of the US market,” Richard S. Creager, CEO of the US affiliate Seegene Technologies, said in an int
May 1, 2022
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Hyundai sees surge in IONIQ 5 purchase orders in Indonesia
Hyundai Motor Co. said Sunday it has bagged purchase orders for more than 1,500 of the all-electric IONIQ 5 in Indonesia within about a week after its official release in the Southeast Asian country. The South Korean automaker clinched purchase deals for 1,587 vehicles in the first five days since its official release on April 22, Hyundai's sales unit in Indonesia said. The amount of purchase orders marks double the number of entire EVs sold in Indonesia for all of last year, reflecting the grow
May 1, 2022
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Hyundai Glovis, Swisslog join hands for smart logistics
Hyundai Glovis, a logistics unit of Hyundai Motor Group, said Sunday it is launching a new smart logistics business supplying cutting-edge solutions for clients to better respond to the latest tech trends and improve operational efficiency overall. The market for smart logistics solutions, based on diverse technologies such as artificial intelligence, big data and robotics, is fast growing on the robust demand for larger and more sophisticated warehouses, especially for the burgeoning e-
May 1, 2022
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Posco’s Park1538 wins three iF Design Awards
Posco’s cultural complex space Park1538 located in Pohang, North Gyeongsang Province, has won International Forum Design Awards, the steel giant said Sunday. In the category of urban, landscape design and wayfinding system, Posco’s Park1538 has been recognized by the Germany-based forum for integrating its headquarters, company memorial, visitor center and parks, converting the whole site into open and public space under concept of sustainable connection and autogenous vitalization
May 1, 2022
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Hyundai, Kia exports of eco-friendly cars top 100,000 units in Q1
South Korea's leading carmakers Hyundai Motor Co. and Kia Corp. saw their combined exports of eco-friendly cars top 100,000 units in the first three months of this year, thanks to the brisk sales of all-electric and plug-in hybrid vehicles, data showed Sunday. In the January-March period this year, the two carmakers exported a total of 111,252 units of eco-friendly cars -- gasoline hybrid, plug-in hybrid and all-electric vehicles -- according to the data compiled by the Korea Automobile Manufact
May 1, 2022
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Budget carriers reopen, expand Guam routes amid eased COVID-19 entry curbs
Jeju Air Co., South Korea's biggest low-cost carrier, said Sunday it will offer more flights to Guam starting this month to meet the growing travel demand amid relaxed COVID-19 entry restrictions. Jeju Air will run four flights a week for the Incheon-Guam route, from the current two, the company said in a release. It plans to add more flights to the Incheon-Saipan route that currently operates two flights a week. Air Busan Co., a budget carrier unit of Asiana Airlines Inc., also said it has resu
May 1, 2022
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S. Korea's exports up 12.6% in April, trade deficit widens on high energy prices
South Korea's exports rose 12.6 percent in April from a year earlier on the back of brisk demand for chips and petroleum products, but the trade deficit widened on soaring global energy prices, data showed Sunday. Outbound shipments stood at $57.69 billion last month, up from $51.23 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. It is the highest tally for any April since the ministry began compiling related data in 1956. The previous reco
May 1, 2022
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[Newsmaker] [Reporter's notebook] What's all the fuss over the weak Korean won?
SEJONG -- Policymakers repeatedly sent alerts to the foreign exchange market last week as the Korean currency sharply lost its value against the US dollar. The greenback surpassed 1,250 won in the wake of investors’ preference in safe havens amid expanding global uncertainty, which include Russia’s Ukraine invasion, high raw materials prices and moves to raise the interest rate in major countries. This is not the first time that increased volatility in won-dollar rates have rung bel
April 29, 2022
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AmCham suggests president-elect lift regulations for foreign investment
American Chamber of Commerce in Korea suggested lifting regulations to make Korea an attractive investment destination for global companies to the new incoming Yoon Suk-yeol administration Friday. The AmCham Board of Governors sent a letter signed by its 34 members to the Transition Committee with some policy recommendations. They include the need to improve the flexibility of employment conditions, mitigate CEO risk, restore the flat tax rate for foreign residents and improve the regulatory e
April 29, 2022
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Pokemon gets ice cream, doughnut treat
South Korean food company SPC Group said Thursday that it will be adding Pokemon themed items to the menu at its donut and ice cream franchises. Baskin Robbins said it will launch two new flavors — Pika Pika Pikachu and Come out! Squirtle — in May. Pika Pika Pikachu is a banana flavored ice cream with chocolate flakes, popping candies and a custard ribbon, while Come out! Squirtle is a soda and lemon ice cream mix. Customers can enjoy the ice cream in Pokemon themed cones, said BR
April 29, 2022
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Samsung under fire for controversial ad of women running at night
Samsung Electronics is under fire for being “tone deaf” over women‘s safety, as the South Korean tech giant issued an apology Friday for an advertisement of a woman running down a street after midnight. The advertisement was meant to promote health and wellness as part of its “Night Owls” campaign, as well as a multidevice experience using Samsung’s wearable devices such as wireless earbuds and a smart watch. The advertisement, created by Ogilvy, had over 15
April 29, 2022
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Genesis GV70 rated above BMW X3, Lexus RX350
The Genesis GV70 3.5T Sport was rated as the best sports utility vehicle by Car and Driver, an American auto magazine, outpacing BMW X3 M40i and the Lexus RX350 F Sport, Hyundai Motor said Friday. Car and Driver evaluated these three cars based on four categories including vehicle, powertrain, chassis, and experience. Genesis GV70 3.5T Sport took the throne with a total score of 213 out of 240, followed by BMW X3 which scored 205, and Lexus RX350 178. The new luxury compact crossover under Ge
April 29, 2022
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NTS hosts in-house video contest to help public understand tax
National Tax Service has hosted an in-house video contest in which contestants submitted short clips designed to help people understand complicated tax procedures, officials said Friday. The contest was held to make the agency’s digital tax service more user-friendly for those unfamiliar with online services. In videos one to five minutes long, NTS officials introduced key services such as, income tax, corporate tax, and year-end tax adjustment. The winning videos can be watched on the
April 29, 2022
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S. Korea ready to take measures to stem won's sharp fall
South Korea plans to take steps to curb the Korean currency's "excessive" fall against the US dollar, a senior government official said Friday. First Vice Finance Minister Lee Eog-weon also dismissed the possibility of a sharp outflow of foreign capital, citing the country's strong economic fundamentals. "Volatility in the won-dollar exchange rate has amplified amid fears about the Federal Reserve's aggressive rate hikes and economic growth concerns due to China's COVID-19 lockdow
April 29, 2022
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LNG prices to further rise on surging global prices
Prices of liquefied natural gas (LNG) in South Korea will increase more than 8 percent in May amid rising global energy prices, the industry ministry said Friday. LNG rates for households and commercial users will go up between 8.4 percent to 9.4 percent starting May 1, leading to the users' extra payment of around 2,450 won ($1.93) per month on average, according to the Ministry of Trade, Industry and Energy. The government has frozen LNG prices for households and general purpose since July 202
April 29, 2022
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Seoul shares open higher on Wall Street gains
South Korean stocks got off to a strong start Friday, tracking an overnight rally on Wall Street fueled by upbeat earnings from major technology companies. The Korea Composite Stock Price Index (KOSPI) rose 16.43 points, or 0.62 percent, to trade at 2,683.92 in the first 15 minutes of trading. Estimate-topping results by Apple Inc. and Qualcomm Inc. sent their stocks higher, helping the key US indexes erase recent losses. The Dow Jones Industrial Average rose 1.85 percent and the tech-heavy Nasd
April 29, 2022
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Home transactions sink 47.6% in March on lending curbs
Home transactions in South Korea plunged 47.6 percent on-year in March on the government's tough lending curbs and rising interest rates, data showed Friday. The number of homes changing hands nationwide stood at 43,179 units last month, compared with 102,109 deals made a year ago, according to the data from the Ministry of Land, Infrastructure and Transport. The March figure also marked a 38.2 percent decrease compared with the average transactions logged over the past five years. The number of
April 29, 2022
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Industrial output rebounds, retail sales fall in March amid omicron wave
South Korea's industrial output rebounded in March after two straight months of decline, but retail sales fell on-month amid the fast spread of the omicron variant, data showed Friday. Industrial production increased 1.5 percent in March from the previous month, compared with a 0.3 percent on-month drop in February, according to the data from Statistics Korea. Compared with a year earlier, industrial output rose 3.1 percent. Asia's fourth-largest economy has been on a recovery track on the back
April 29, 2022