Most Popular
-
1
1 in 3 Koreans live alone, family types becoming diverse
-
2
Korea, Japan finance chiefs vow to tame rampant FX market volatility
-
3
K-pop group's manager dismissed for setting up spycam in theater dressing room
-
4
Contentious grain bill put directly to plenary meeting for vote
-
5
Why is Apple Pay struggling to get purchase in Korea?
-
6
Yoon's office denies considering liberal figures for key posts
-
7
Trilateral talks acknowledge ‘serious’ slumps of won, yen
-
8
Will tug-of-war between doctors, government end soon?
-
9
Climate impacts set to cut 2050 global GDP by nearly a fifth
-
10
[Today’s K-pop] BTS pop-up event to come to Seoul
-
Kia likely to log better-than-expected Q2 earnings: brokerages
Kia Corp. is expected to post better-than-expected earnings for the second quarter on brisk sales at home and abroad, local brokerages said Monday. Kiwoom Securities Co. forecast the operating income of South Korea's No. 2 automaker to stand at 1.58 trillion won ($1.4 billion) for the April-June period, upgrading the carmaker's target stock price to 140,000 won from 120,000 won. "Kia is likely to register marked growth in sales in the domestic and North American markets, where its average
July 5, 2021
-
Auto parts maker Mando gets 'A' ESG rating from MSCI
South Korean auto parts maker Mando Corp. said Monday it has received an "A" environmental, social and governance (ESG) rating form global index provider Morgan Stanley Capital International (MSCI) for its environmentally friendly growth value. Mando said the company is the first among South Korean auto and auto parts manufacturers to have been awarded such an ESG rating by MSCI. MSCI grants an A ESG rating to companies with a mixed or unexceptional track record of managing the most
July 5, 2021
-
Imported auto sales fall 4.2% in June amid pandemic
Sales of imported vehicles in South Korea fell 4.2 percent in June from a year earlier amid the extended COVID-19 pandemic, an industry association said Monday. The number of newly registered foreign vehicles fell to 26,191 units last month from 27,350 a year ago as the prolonged pandemic weighs on consumer demand, the Korea Automobile Importers & Distributors Association (KAIDA) said in a statement. The three bestselling models last month were Volkswagen's T-Roc 2.0 TDI SUV, Mercedes-Benz
July 5, 2021
-
S. Korea set to unveil support plan for battery sector this week
South Korea's industry ministry said Monday it plans to soon unveil a detailed blueprint to nurture the rechargeable battery sector, with the goal of the country taking the lead in the segment. "We plan to spare no efforts to develop technologies for rechargeable batteries and foster businesses in the field of materials, parts and equipment," Industry Minister Moon Sung-wook said during his visit to a production line of Samsung SDI Co. in the southeastern city of Ulsan. Over the firs
July 5, 2021
-
Seoul stocks open higher on tech, bio gains
South Korean stocks opened higher Monday, led by gains in tech and bio shares. The benchmark Korea Composite Stock Price Index (KOSPI) added 10.16 points, or 0.31 percent, to trade at 3,291.94 in the first 15 minutes of trading. Stocks got off to a solid start on speculations of improved corporate earnings. Tech large caps Samsung Electronics and LG Electronics are scheduled to report their quarterly earnings guidance this week. Concerns about the recent spread of the new coronavirus and its
July 5, 2021
-
Samsung, Hanwha Q Cells join hands for home energy solutions
Samsung Electronics Co. said Monday it has signed a partnership with Hanwha Q Cells Co., a local solar power cells and modules producer, to develop home energy solutions. The two sides agreed to work together in establishing "zero energy homes," referring to homes that produce their own power with renewable energy sources to reduce carbon emissions. Their collaboration will be first available in the United States and Europe, where there is high demand for green energy, according to
July 5, 2021
-
Support measures eyed for $30b overseas construction order target
South Korea said Monday it will provide financial and policy support to local construction firms to help them achieve the $30 billion target of overseas orders this year. The government unveiled a set of comprehensive measures to support local builders as the overseas construction market is expected to rebound this year following slumps caused by the COVID-19 pandemic, according to the finance and land ministries. The global construction market is estimated at $12.4 trillion this year, up 12.2
July 5, 2021
-
[Best Brand] The enduring power of brand
The COVID-19 pandemic has had great significance for marketers around the world. In the face of the new coronavirus, consumer behavior changed drastically. The non-face-to-face trend shifted market dynamics in a way no one could have foreseen. Yet in this time of uncertainty, some brands managed to stay strong. This is proof of the sticking power of a brand built on good products and years of honest customer relationships. Consumer trust and loyalty are hard to come by, but once e
July 5, 2021
-
S. Korea's FX reserves fall in June as US dollar remains strong
South Korea's foreign reserves declined in June as the US dollar's strength reduced the value of non-dollar assets, central bank data showed Monday. The nation's foreign reserves came to $454.1 billion as of end-June, down $2.35 billion from the previous month, according to the Bank of Korea (BOK). Foreign reserves consist of securities and deposits denominated in overseas currencies, International Monetary Fund reserve positions, special drawing rights and gold bullion. The FX reserves decli
July 5, 2021
-
How do Korean asset owners brace for inflation?
As global central banks talk of tapering the huge liquidity provisions they made to cope with the fallout from the COVID-19 pandemic, South Korean asset owners are rethinking their current asset allocation strategies. The 14th Institutional Investor Week Korea, a virtual conference hosted by Hong Kong-based publication AsianInvestor from June 21-25, invited discussions of how Korean institutional investors were preparing for the possibility of increased inflation and interest rate hikes. Histo
July 4, 2021
-
Kakao Pay sets IPO schedule
Kakao Pay set the date for its initial public offering for the first week of August, immediately trailing the much anticipated listings of Krafton and KakaoBank. On Friday, Kakao Pay said it had submitted its IPO application to the country’s stock operator, Korea Exchange. The financial technology arm of mobile giant Kakao said it seeks to raise up to 1.6 trillion won ($1.4 billion) when it goes public Aug. 4-5. Kakao Pay’s listing will immediately follow the mega IPO of game m
July 4, 2021
-
Volvo Concept Recharge reveals what carmaker is going for with EVs
Volvo recently unveiled a concept car that shows where the automaker is going in its electrification drive. The Volvo Concept Recharge, which the firms described as “a manifesto for the next generation of all-electric Volvos,” introduces a host of improvements in car design, functionality and safety features. They include a much roomier interior made possible by the removal of the internal combustion engine and the adoption of the flat floor. By replacing a battery pack under the
July 4, 2021
-
Biomedicines, batteries and OLEDs key export drivers
Biomedicines, batteries and OLED panels are rising as key drivers of exports in South Korea, which Seoul officials see as a hopeful sign of the economy becoming more resilient and future-oriented. According to the Ministry of Trade, Infrastructure and Energy on Sunday, the first half of 2021 reinforced a continuing trend of seven product categories, identified by the government as new growth items, making bigger contributions to the country’s total exports. The seven are bio and health
July 4, 2021
-
Visang Tax, Pharos Consulting to help taxpayers get back overpaid taxes
Visang Tax and Pharos Consulting signed a memorandum of understanding to work together to help taxpayers protect their rights by checking whether they have overpaid taxes, at a ceremony held in Seoul on Thursday. The agreement involves a measure called “claim for reassessment” and the two firms plan to run a one-stop service in which clients from conglomerates, small and medium-sized enterprises and small businesses reassess their tax payment to check whether there are any errors i
July 4, 2021
-
[Photo News] Art museum at home
Art is displayed on an LG Electronics’ OLED TV in this promotional image released by LG Electronics on Sunday. The South Korean home appliance brand has collaborated with local cultural and art content provider Polestar Art to add the K-Fine Art theme on its OLED Gallery app so customers can enjoy Korean artists’ works for free, the firm said. (LG Electronics) (khnews@heraldcorp.com)
July 4, 2021
-
[Newsmaker] How Minecraft became R-rated game in S. Korea
Minecraft is a 3D computer game where players can build anything. Often described as “online Legos,” the bestselling video game of all time involves building blocks and creating structures across different environments and terrains. Rated as suitable for ages 7 and up, some schools have started to incorporate Minecraft into the classroom, as kids can naturally learn teamwork, problem-solving skills and basic programming while playing the game with friends and helping each other bu
July 4, 2021
-
Oil prices in S. Korea hit 33-month high
Retail oil prices in South Korea rose for the ninth consecutive week to reach the highest level in nearly three years amid a global oil rally, data showed Sunday. The average gasoline price nationwide was 1,600.9 won ($1.40) per liter in the fifth week of June, edging up 13.5 won from a week earlier, according to the data provided by the state-run Korea National Oil Corp. (KNOC). The gasoline price surpassed the 1,600 won level for the first time since November 2018. Diesel prices also gained
July 4, 2021
-
Coupang investigated by FTC over accusations of meddling with algorithms
South Korea’s antitrust watchdog has launched a probe into e-commerce giant Coupang over the accusation that the company has meddled with algorithms to prioritize its own products, according to multiple reports on Sunday. According to the reports, the Korea Fair Trade Commission conducted an on-the-spot inspection at Coupang’s headquarters office in Seoul late last month following accusations that it had violated the Fair Trade Act. One of the accusations claims that Coupang had me
July 4, 2021
-
Demand for courier service soared during pandemic: study
As the coronavirus pandemic swept across Korea, courier services enjoyed a surge in popularity, a new study has revealed. The average number of times people used a courier service rose from 6.22 per month to 9.74 after the pandemic began, according to the recent study, the Korea Transport Institute said Sunday. The study was conducted by researchers at the institute with a sample of 1,153 respondents during November last year to highlight the differences in how people use delivery services in
July 4, 2021
-
FSC to decide on major Samsung Life’s shareholders
South Korea’s top financial regulator will give a ruling on whether the late Samsung Group Chairman Lee Kun-hee’s two daughters -- Hotel Shilla CEO Lee Boo-jin and Samsung Welfare Foundation chief Lee Seo-hyun -- are qualified to become major shareholders of Samsung Life Insurance. This decision is expected to go in their favor, paving their way to become the company’s largest shareholders, industry sources said on Sunday. The policymaking Financial Services Commission is sl
July 4, 2021