Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Ministry denies blame for Jamboree debacle
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Tesla, Apple, AMC most bought foreign stocks among Koreans in H1
Tesla, Apple and AMC Entertainment were the most-bought foreign stocks among South Koreans in the first half of the year, data showed Monday. US electric vehicle maker Tesla drew buy orders of $9.6 billion from Korea-domiciled investors during the January-June period, topping the list of the most actively traded foreign stocks, according to data from the Korea Securities Depository. The same stocks worth $7.9 billion were sold by Korean traders over the cited period. Korean investors‘ p
July 5, 2021
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Koreans still prefer real estate investment: data
South Koreans’ preference for nonfinancial assets such as real estate is still high compared to other major economies, but their investment in stocks has increased during the pandemic, data showed Monday. As of end-2019, the proportion of financial assets in the wealth of Koreans was 35.6 percent, significantly lower than those in the US (71.9 percent), Japan (62.1 percent), UK (54.8 percent) and Australia (43 percent), according to data compiled by Korea Financial Investment Association.
July 5, 2021
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[Behind the Wheel] With K9, Kia makes driving luxury
Kia’s premium flagship sedan K9 has returned with a major technological change, showing off how driving assistance can really make a difference behind the wheel. Often called the “car for CEOs,” the most luxurious model from Kia showed a solid performance, selling 10,878 units in 2019. But its sales dwindled to 7,831 units in 2020 as competition for the title intensified with vehicles from Genesis, the premium automotive brand of Hyundai Motor Group, namely the G80 and G90.
July 5, 2021
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Samsung partners with Hanwha Q Cells for zero energy homes
Samsung Electronics said Monday it had joined hands with South Korea’s leading solar cell and module maker Hanwha Q Cells to tap the home energy solution market. According to the companies, the partnership seeks to create “zero energy homes,” that are self-sufficient for energy. While Hanwha Q Cells’ solar power modules and energy storage system would allow homeowners to produce and store electricity, Samsung Electronics’ SmartThings Energy service, an open Inte
July 5, 2021
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[News Focus] Apple’s free update of lossless format to reshape digital music in Korea
Last month,Apple rolled out two big updates -- a lossless audio format and Dolby Atmos support -- for its flagship digital music service. As Apple Music subscribers get the two upgrades at no extra charge, attention is now placed on Korean digital music providers that offer similar content in separate pay plans. With the updates, Apple switched over 20 million tracks to a lossless format named ALAC, or Apple lossless audio compression. Apple said it plans to make its entire catalogue of over 7
July 5, 2021
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Korea pushes measures to clinch $30b of foreign construction deals
With signs of recovery in the global construction market, the government said Monday it would make an all-out effort to achieve its goal of securing $30 billion worth of overseas construction deals this year. “Large-scale infrastructure investment demand from developed and developing countries is expected to grow as the global construction market is expected to recover this year,” Finance Minister Hong Nam-ki said. Korean construction firms won overseas orders worth $14.7 billion
July 5, 2021
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SKT offers a glimpse of what mmWave 5G network would be like
South Korea’s top wireless carrier SK Telecom said Monday that the company has started a test run of its 5G network running on the 28-gigahertz bandwidth at Coex, in Samseong-dong, Seoul. For the test run of super-fast wireless connection, the company has set up an exhibition at a 36,000-square-meter area at Coex, offering a glimpse into SKT’s future technology businesses, such as the metaverse. During the event, which runs through Sunday, anyone who visits can use the “mi
July 5, 2021
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Samsung likely to unveil three foldable phones on Aug. 11
Samsung Electronics will unveil a lineup of new mobile devices, including foldable phones, next month, according to industry sources on Monday. Industry watchers say that Samsung will be holding a Galaxy Unpacked event at 11 p.m. on Aug. 11, Korea time, which will be livestreamed from Seoul. Samsung, however, hasn’t yet sent out an official invitation to its partners and media worldwide. Regarding the schedule, Samsung said it is not yet fixed. The upcoming show will be the first th
July 5, 2021
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[News Focus] Welstory: Food for Samsung workers or the Lees?
A hefty fine given to four Samsung companies, including Samsung Electronics, by the Fair Trade Commission late last month has dealt another blow to South Korea’s top conglomerate in terms of compliance. On Friday Kim Ki-nam, chief of Samsung’s semiconductor business, currently the most powerful person at the company while de facto owner Lee Jae-yong is in jail, urged executives and employees to continue making “ceaseless efforts to maintain compliance rules” in a letter
July 5, 2021
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Seoul stocks rebound on earnings hope; Kosdaq sets record for 3rd day
South Korean stocks rebounded Monday after a two-day slump, largely on speculations of solid corporate earnings in the second quarter. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 11.43 points, or 0.35 percent, to close at 3,293.21 points. Trading volume was moderate at about 839 million shares worth around 14.3 trillion won ($12.6 billion), with losers outnumbering gainers 460 to 372. Foreigners bought a net 1 billion won, while ret
July 5, 2021
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Local builder Jungheung picked as preferred bidder for Daewoo E&C deal
KDB Investment, a controlling shareholder of Daewoo Engineering & Construction have picked Jungheung Group, a local construction company, as a preferred bidder for acquiring the country‘s sixth-largest builder, the proposed seller said Monday. The announcement sets the stage for Jungheung to further negotiate with KDB Investment, which holds 210.9 million common shares, or a 50.75 percent stake, in Daewoo E&C. The Jungheung-led consortium outbid the investor group of builder DS
July 5, 2021
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BAT’s tobacco heating product reduces harmful exposure: study
BAT Korea unveiled a new study on Monday that showed its tobacco heating product Glo was able to “significantly” reduce harmful exposure to toxic substances. The recent study published in the Journal of Internal and Emergency Medicine offers the “first real-world evidence” that switching from cigarettes to exclusive use of Glo, the company’s flagship product, has a similar impact on indicators of potential harm as quitting smoking, BAT said. The findings, which we
July 5, 2021
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Korean maker of COVID-19 test kits seeks W647b via IPO
SD Biosensor, a manufacturer of COVID-19 test kits in South Korea, said Monday that it was ready to make its market debut on the nation’s benchmark Kospi this month with a lowered initial public offering price range, amid scrutiny from the financial regulator over an original valuation deemed excessive. The in-vitro diagnostic firm’s IPO price has been set within the range of 45,000 won to 52,000 won ($39.90-$46), having been lowered by 32 percent to 39 percent from the previous ta
July 5, 2021
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Design patent applications for pet and plant products soar amid pandemic
The number of design patent applications for pet and houseplant related products soared last year amid the coronavirus pandemic, new data from the Korean Intellectual Property Office revealed on Monday. While the figure has risen by an annual average of 21 percent over the last six years, pet product design patent applications saw a 34 percent year-on-year jump last year, from 712 to 953. The figure for houseplant related products also rose 30 percent over the same period, from 288 to 374. As
July 5, 2021
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Korean banks boost cybersecurity to back digitalization
South Korean banks are adopting unprecedented measures to boost cybersecurity in a bid to better compete with local fintech firms. Woori Bank said Monday it became the first lender here to adopt the security orchestration, automation and response technology, or SOAR. SOAR is an advanced set of technologies that enables organizations to automatically collect and file security data. The latest technology would help upgrade its cybersecurity platform from the previous monitoring-focused system
July 5, 2021
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Shinhan Card to launch ‘BTS card’
Shinhan Card said Monday it plans to launch private label credit card featuring South Korean boyband BTS and other celebrities later this year, exclusively for K-pop fans. In partnership with Weverse Company, a fan community platform created by Hybe, the entertainment agency behind BTS, Shinhan will launch PLCCs that offer benefits and rewards to cardholders who buy albums or concert goods via Weverse Shop. A PLCC is a credit card branded jointly by two business entities that are intended to
July 5, 2021
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[Newsmaker] Cyworld comes alive again
Cyworld, the dominant social networking site here before the era of Facebook throughout the 2000s, was set to reopen Monday evening, with many in their 30s and 40s ripe with anticipation to revisit their past. Cyworld Z, the company that bought Cyworld in January this year, said it has recovered some 17 billion photos and over 100 million videos stored in the old servers. With nearly 32 million members at one point, Cyworld was the uncontested champion of social media here, as the country&rsqu
July 5, 2021
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Hyundai to sell Staria minivan in Thailand this week
Hyundai Motor Co. said Monday it will begin the sale of the Staria minivan in Thailand this week as it strives to increase its presence in Southeast Asian markets. Hyundai also plans to begin introducing the Staria minivan in Vietnam, Malaysia and Indonesia in the third quarter, a company spokesman said. Last year, Hyundai sold about 4,000 vehicles in Thailand and most of the vehicles were the Starex minivan. The Starex minivan is no longer in production. The maker of the Sonata sedan and t
July 5, 2021
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S. Korea to bolster safety of workers at seaports
South Korea's oceans ministry said Monday it will revamp safety measures at local seaports in line with efforts to improve the working environment and prevent accidents. The move came as the number of accidents at local ports has been rising recently in sync with economic growth and rising trade volumes, according to the Ministry of Oceans and Fisheries. Over the past decade, around 2,800 workers were involved in accidents at local seaports, with the number of fatalities reaching 53 over the p
July 5, 2021
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Samsung Heavy wins W654.5b order for 3 LNG carriers
Samsung Heavy Industries Co. said Monday it has signed a 654.5 billion-won ($579 million) deal to build three LNG carriers. Under the deal with an unnamed Oceanian company, the 180,000-cubic meter LNG carriers will be delivered by February 2024, Samsung Heavy Industries said. With the latest order, Samsung Heavy Industries has bagged orders for a total of 51 ships valued at $6.5 billion so far this year, achieving 71 percent of its annual order target of $9.1 billion, the company said. The
July 5, 2021