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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Korean, Romanian leaders discuss defense tech, nuclear energy
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Medical standoff deepens as doctors reject new med school plan, talks
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[Graphic News] 77% of young Koreans still financially dependent
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N. Korea sends economic delegation to Iran amid suspected military cooperation
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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Jan. inflation in OECD countries highest in 31 years
The average year-on-year inflation in Organization for Economic Cooperation and Development countries hit 7.2 percent in January, the highest since February 1991, amid rising energy prices. Consumer prices in South Korea rose 3.6 percent in January from a year ago, marking the 29th highest among 38 OECD member countries. The average year-on-year inflation of G-20 and G-7 nations stood at 6.5 percent and 5.8 percent, respectively, in the first month of this year. Turkey suffered the worst infl
March 7, 2022
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Samsung Electronics Galaxy smartphones embroiled in ‘GOS’ scandal
Samsung Electronics is facing accusations that it exaggerated the performance of its flagship smartphone Galaxy S22 series. The controversy revolves around an application called game optimizing service, or “GOS.” When users play games with Galaxy S22 smartphones, GOS is activated and adjusts the performance of smartphones to help batteries last longer and prevent overheating issues. Gamers have complained about GOS for some time because the app, which cannot be switched off by th
March 7, 2022
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Samsung expected to launch Galaxy A series in mid-March
Samsung Electronics Co. is widely expected to launch its entry-level Galaxy smartphones later this month in response to the March 8 release of Apple's new iPhone SE, industry sources said Monday. Samsung's mid-low tier Galaxy A series is forecast to come in various new models -- A73, A53, A33 and A23 -- a product line the company said would provide "cutting-edge innovations, services and features at an accessible price." Apple is expected to announce the next-generation version of the
March 7, 2022
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S. Korea joins global move to suspend transactions with Russia's central bank
South Korea said Monday it plans to suspend transactions with Russia's central bank, joining the global move to impose additional sanctions against Moscow over its invasion of Ukraine. The government said it will announce details after consulting with related government agencies. The US has banned transactions with Russia's central bank, the finance ministry and sovereign wealth funds as part of fresh sanctions against Moscow. The European Union also announced similar sanctions. South Korea has
March 7, 2022
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S. Korea faces heightened economic uncertainty amid Ukraine crisis: KDI
The South Korean economy is on a recovery track, but external economic uncertainty has markedly increased as the Russian invasion of Ukraine has jacked up prices of oil and raw materials, a state-run think tank said Monday. Asia's fourth-largest economy is maintaining its moderate recovery on the back of solid manufacturing output, with the latest upsurge in COVID-19 cases having limited impacts on in-person services, the Korea Development Institute (KDI) said in a monthly economic assessment re
March 7, 2022
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SeAH Besteel exports spent nuclear fuel casks to US firm
South Korean steelmaker SeAH Besteel Corp. said Monday it will deliver three dry casks used to store spent nuclear fuel to a US nuclear logistics company. The delivery comes some six months after SeAH Besteel signed a deal for 17 casks with Orano TN, which provides total system solutions for used nuclear fuel and radioactive waste management. SeAH Besteel said it marks the first time for a South Korean firm to export finished casks for spent nuclear fuel to the US market. The three casks will be
March 7, 2022
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Seoul stocks open steeply lower on soaring oil prices
South Korean stocks opened steeply lower Monday as the United States and its allies mull ways to suspend imports of Russian crude, raising concerns the soaring oil prices may weigh on corporate performances. The benchmark Korea Composite Stock Price Index (KOSPI) had retreated 46.26 points, or 1.7 percent, to 2,667.17 points as of 9:17 a.m. Investor sentiment for risky assets decreased as Brent crude hit an intraday high of US$139 a barrel, the highest since 2008, following reports the US and it
March 7, 2022
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Number of EV taxis surges as driving ranges get longer
The number of newly registered electric taxis has surged to some 5,000 last year, as more taxi drivers are increasingly opting for EVs with better driving range. According to the Korea Automobile Manufacturers Association on Sunday, a total of 4,991 EV taxis were registered last year, which is a 453.9 percent jump from a year ago. The number increased rapidly last year compared to previous years. The number of new EV taxis was 1,018 in 2019 and 901 in 2020. The business lobby cited increase
March 6, 2022
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Genesis GV60 gets remote software updates
Hyundai Motor’s standalone luxury brand Genesis announced Sunday that it is offering an “over-the-air” software update for its GV60 model that was launched last October. The software update will enhance the car’s advanced driver assistance system by improving forward and backward collision warnings, parking distance warnings, and remote smart parking assist features. With GV60, drivers will be able to download the updated software “over-the-air” while drivin
March 6, 2022
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[MEET THE CEO] With fresh IPO capital, Krafton looks into metaverse, NFT and C2E
As one of South Korea’s online game pioneers, Kim Chang-han -- a computer engineer-turned-entrepreneur -- had early success in his life with his creation, PUBG: Battlegrounds. Since its debut in 2017, the popular battle royale game has sold over 75 million copies in 200 countries and also turned the small game company Krafton into a global studio generating 1.89 trillion won ($1.55 billion) of revenue a year. Kim, also known as the father of PUBG for his key role in developing the game, i
March 6, 2022
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Hana chief highest-paid banking CEO in 2021
Hana Financial Group Chairman Kim Jung-tai was the highest-paid banking CEO last year, taking home an annual salary of 2.4 billion won ($1.98 million), according to annual reports filed by financial firms Sunday. Kim ranked No. 1 in annual salary paid to executives among his peers, with KB Financial Group Chairman Yoon Jong-kyoo ranking No. 2 with 1.7 billion won and Shinhan Financial Group Chairman Cho Yong-byoung No. 3 with 800 million won. Woori Financial Group has yet to file a similar r
March 6, 2022
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Retail investors rush for Russia ETFs despite warnings
South Korean retail investors have been on a buying spree of Russia-related exchange-traded funds amid growing tensions between Russia and Ukraine, data showed Sunday. Analysts say that retail investors are hoping for a rebound in Russian stocks once the situation surrounding the Russia-Ukraine war calms down, but warned that the current volatility could be costly for them. Retail investors bought over a net 70 billion won ($57.4 million) worth of Russia-related ETFs sold both locally and ov
March 6, 2022
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LG debuts Chromebook for education market
LG Electronics said Sunday it has launched a brand-new laptop, Chromebook, to target the growing education market, the size of which is expected to increase five times in three years. According to the consumer electronics firm, the 11-inch laptop offers a touch screen and can be utilized as a tablet as it bends backward. Weighing just 1.44 kilograms, the laptop is available for 690,000 won ($567). The cheap price was possible as the laptop doesn’t require an expensive Windows operating
March 6, 2022
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Samsung joins Russia sanctions, donates $6m to Ukraine
Samsung Electronics has suspended its shipments to Russia and donated $6 million to Ukraine, according to industry sources Sunday. The South Korean tech giant has become the latest multinational firm to join comprehensive sanctions against Russia, where the market has crashed and the value of the ruble has plummeted. Despite its export embargo on Russia, Samsung Electronics will still operate its local factories there. “Shipments to Russia have been suspended due to the current geopol
March 6, 2022
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Hyundai Engineering wins used plastic processing plant deal in US
Hyundai Engineering Co. said Sunday it has received a front-end engineering and design (FEED) deal to build a plastic waste processing plant in the United States. Hyundai Engineering obtained the FEED deal from Encina Development Group to process plastic waste into 150,000 tons of circular chemicals products a year, the company said in a statement. Hyundai Engineering aims to win more deals from Encina as the US company plans to push more plastic waste processing plant projects in the US, Latin
March 6, 2022
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Samsung Electronics allegedly hacked by foreign entity, confidential data leaked
Samsung Electronics has allegedly been hacked by a foreign hacking group, which breached its confidential source code and other classified data, industry sources and media reports said Saturday. Data extortion entity Lapsus$ has claimed that it hacked the system of the South Korean tech giant and leaked up to 190 gigabytes of its data and source code online, according to the sources. It also said that it uploaded the leaked data for download via torrent. Samsung officials said they are
March 5, 2022
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[Eye Plus] Meet servants, suppliers for Joseon royal families in Wonseo-dong
In Jongno-gu, central Seoul, one of the most historical districts in the city, lies a town that preserves the culture and art from the Joseon era. Walking alongside the town offers a glimpse of how low-level officials who worked for kings and queens of the Joseon Dynasty lived. Located between Bukchon Hanok Village and the Changdeok Palace, the town is called Wonseo-dong, meaning the western part of the palace’s backyard. Crossing a small road from the palace, visitors are welcomed by
March 5, 2022
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S. Korea to release 4.42 mln barrels of oil reserves due to Ukraine crisis
South Korea has decided to release 4.42 million barrels of strategic crude reserves to help bring down soaring energy prices and prevent a possible supply shortage amid tensions surrounding Ukraine, the industry ministry said Saturday. Earlier this week, 31 member nations of the International Energy Agency agreed to release 60 million barrels of oil from their emergency reserves, as concerns have risen over a possible shortfall in global energy supplies and a further spike in prices due t
March 5, 2022
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Seoul stocks likely to be volatile next week amid Ukraine uncertainties
South Korean stock markets are expected to continue to face volatile sessions next week, largely on persistent uncertainties in Ukraine and the US Federal Reserve's stance on its monetary policy, analysts said Saturday. The benchmark Korea Composite Stock Price Index closed at 2,744.52 points Friday, up 0.14 percent from a week ago. The key stock index snapped its four-day winning streak Friday, as investors were spooked by a fire at a Ukraine nuclear plant and the U.S. Federal Reserve chairma
March 5, 2022
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[Newsmaker] K-drama filming locations among most popular attractions in Seoul: report
Foreigners flocked to famous K-drama filming sites in Seoul last year, propelled by a rising global popularity for Korean TV series, a report showed Friday. Among some 80 tourist attractions visited by 1.6 million foreigners last year, 57.6 percent were filming locations of Netflix-aired Korean dramas, a LG Uplus report showed. Milal Fine Art Museum in Gangnam-gu, the filming site of “Guardian: The Lonely and Great God,” saw a 195 percent surge -- the highest figure -- in the num
March 4, 2022