Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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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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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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Seoul city opens bike lanes along Cheonggye Stream
The Seoul metropolitan government opened elevated bicycle lanes Monday along a stream that flows through the heart of the city as part of efforts to encourage the use of the eco-friendly means of transportation among citizens and tourists. The bike lanes were built on a 5.94-kilometer-long section of the existing two-way roads that run along Cheonggye Stream, connecting Cheonggye Plaza near Gwanghwamun to Gosanja Bridge in the eastern ward of Dongdaemun. Raised to the same height as the sidew
May 31, 2021
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April sees 2.1% on-year growth in number of employees
The number of employees at local businesses grew on-year by 2.1 percent in April on the back of an economic recovery, the labor ministry said Monday. As of the last business day of April, there were 18.6 million people employed by companies, up 379,000 from the same month last year, the Ministry of Employment and Labor said in a monthly report. The increase is the largest in 21 months, after 396,000 in July 2019. The coronavirus pandemic caused negative growth in employee numbers starting in
May 31, 2021
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S. Korea to spend W3.6tr for convergence of industries
South Korea plans to invest 3.6 trillion won ($3.2 billion) this year to promote the convergence of different industries and foster new growth engines, the industry ministry said Monday. The budget, which marks a 3.7 percent rise from 3.46 trillion won allocated in 2020, will be spent on 163 projects, according to the Ministry of Trade, Industry and Energy. The projects will center on helping the country's vision to go carbon neutral by 2050 and speed up the development of contact-free econom
May 31, 2021
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S. Korea likely to collect larger tax revenue this year amid economic recovery
South Korea is likely to collect larger-than-expected tax revenue this year, potentially securing ammunition to finance another extra budget that could be under review to help underpin an economic recovery. The country may be able to collect more than 300 trillion won ($269 billion) in tax revenue this year, up around 17 trillion won from the government's earlier forecast of 282.7 trillion won, according to government and parliamentary officials. This, if realized, would also mark an increase
May 31, 2021
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Hyundai Oilbank to establish 100,000-ton blue hydrogen ecosystem
Hyundai Oilbank said Monday it will establish a blue hydrogen ecosystem with an annual production capacity of 100,000 metric tons by 2025 and convert carbon generated from the production process into commercial products such as dry ice. According to the South Korean energy company, the ecosystem will extract hydrogen from natural gas and refinery by-products and remove carbon to make the hydrogen “blue.” The hydrogen will be then transported, delivered and supplied to customers to
May 31, 2021
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Samsung Heavy bags W417b order for 2 LNG carriers
Samsung Heavy Industries Co. said Monday that it has signed a 417 billion won ($374 million) deal to build two liquefied natural gas (LNG) carriers. Under the deal with an Oceanian company, Samsung Heavy will deliver the vessels by July 2024, the company said in a regulatory filing. The vessels will be equipped with devices to boost fuel efficiency, the shipbuilder said. With the latest deal, Samsung Heavy has bagged orders worth $5.4 billion for 44 ships so far this year, achieving 59 perc
May 31, 2021
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Hyundai, Kia's eco-friendly car exports up 47% in Jan.-April
Hyundai Motor Group's eco-friendly vehicle exports jumped 46.6 percent in the first four months of this year compared with a year earlier, led by robust demand for its electric vehicle (EVs) and hybrid models, industry data showed Monday. The combined exports of eco-friendly models by the Korean automotive group's two affiliates -- Hyundai Motor Co. and Kia Corp. -- stood at 118,321 units in the January-April period, up from 80,689 units a year ago, according to the data by the Korean Automobi
May 31, 2021
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LG to release new 32-inch gaming monitor in S. Korea
LG Electronics Inc. said Monday its new gaming monitor will be available in South Korea this week as the tech giant aims to expand its sales amid the pandemic-driven stay-at-home trend. LG's latest 32-inch UltraGear monitor, 32GP850, will hit local shelves Tuesday with a price tag of 799,000 won (US$720). The addition of the 32GP850 expands LG's gaming monitor portfolio to 19 models, with their display sizes ranging from 24 inches to 38 inches. The new monitor comes with Nano IPS display s
May 31, 2021
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Samsung ups presence in Europe, Middle East and Africa in Q1: report
Samsung Electronics Co. expanded its presence in the Europe, Middle East and Africa (EMEA) smartphone market in the first quarter of the year, a report showed Monday The South Korean tech giant shipped 30.6 million smartphones in the EMEA market in the January-March period for a 32.8 percent market share, according to the latest report from industry researcher International Data Corp. (IDC). The figures were up from a year earlier when the company shipped 22.7 million smartphones for a 29.5 p
May 31, 2021
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[Graphic News] Local craft beers gain popularity in S. Korea
South Korea’s homegrown craft beer has gained popularity in recent years, industry data showed, as local brewers offer a wider range of flavors at competitive prices. The local craft beer market was valued at 118 billion won ($105.6 million) as of 2020, sharply up from 43.3 billion won in 2017, according to data from the Korea Craft Brewers’ Association. Local craft brewers have expanded their presence in the market as craft beers have become more widely available at conv
May 31, 2021
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Audi Volkswagen Korea promises to go net zero by 2050
Audi Volkswagen Korea is committed to going net zero by 2050 and hopes to set an example for the car industry, the automaker said Friday. In a press conference, Audi Volkswagen Korea Group Managing Director Rene Koneberg said pursuing carbon neutrality is a task that everyone should work together to achieve. To highlight the seriousness of the climate change issue and the importance of reducing our carbon footprint, Audi Volkswagen Korea has also opened an exhibition titled “goTOzero&r
May 31, 2021
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Seoul stocks open lower on inflation worries
South Korean stocks opened lower Monday amid investor concerns of early post-pandemic inflation. The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.92 points, or 0.19 percent, to 3,182.81 points in the first 15 minutes of trading. The KOSPI got off to a weak start as accelerating inflation may sap demand for risky assets. The US personal consumption expenditures index picked up 0.6 percent in April, marking the fastest on-year jump since 2008. In Seoul, top cap Samsung Electron
May 31, 2021
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Industrial output falls by most in 11 months in April
South Korea's industrial output declined the most in 11 months in April as production in the chipmaking industry slumped due largely to a higher base effect, data showed Monday. But the country's service output and retail sales extended their gains last month as warm weather and eased social distancing rules spurred consumer spending. The industrial output decreased 1.1 percent in April from the previous month, a turnaround from a 0.9 percent on-month increase in March, according to the data c
May 31, 2021
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Kumho Tire aims to lead local tire market with SOLUS TA51
Kumho Tire is looking to bolster its share of the local tire market with its latest all-season model SOLUS TA51, launched in April. SOLUS TA51 is the tire maker’s first new product in three years, and comes in 34 different sizes, ranging from 16 inches to 19 inches. The tire product will be compatible with most car models in the local market, the company explained. It is a Korean market-only model. It is specially designed to be suitable for use in different weather conditions across
May 30, 2021
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Hyundai E&C to begin sales of Hillstate Iksan aparment complex
Hyundai Engineering & Construction will begin presales of flats for a new high-rise apartment complex in Iksan, North Jeolla Province this month, the company said Sunday. The apartment complex, dubbed Hillstate Iksan, will comprise six buildings with 454 housing units, which measure from 59 to 126 square meters. The complex is at a prime location right next to Seonhwa-ro which cuts through the center of the city, the builder said. On top of that, it is also close to Iksan Station that i
May 30, 2021
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Celltrion's Humira biosimilar to arrive in Europe next month
Celltrion Healthcare, which is in charge of Celltrion‘s overseas business, is expected to launch sales of its adalimumab biosimilar Yuflyma in the European market in June, according to industry sources, Sunday. It will initially be launched in around six European countries, including Spain, the officials said. A Celltrion Healthcare’s official said the company would try to release Yuflyma in Spain by next month, but the schedule can be adjusted. Yuflyma is the world’s firs
May 30, 2021
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SK Broadband strengthens efforts to reduce carbon emissions
Telecommunications provider SK Broadband has been making a host of new changes as part of its effort to speed up the environmental, social and corporate governance, or ESG, management, with a particular focus on reducing carbon emissions. SK Broadband has been replacing old infrastructure, developing energy efficient products, and reducing energy consumption at network stations to match its carbon-emission-free goal. According to company officials Sunday, the telecommunications company has to
May 30, 2021
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[#WeFACE] Energy transition essential for exports: RE100 head
The Korea Herald is publishing a series of interviews with the lineup of speakers who will discuss solutions to the climate crisis at the H.eco Forum, which is scheduled to be held virtually on June 10 under the theme “We Face the Climate Clock.” – Ed. It was only last December when a South Korean company joined the global RE100 campaign -- a pledge to use 100 percent renewable power. The list is growing, but probably not fast enough for the country’s export-driven econ
May 30, 2021
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[News Focus] Is ‘real 5G’ elusive goal for Korea?
Is 5G, the next-generation of wireless technology, worth the hype? This is a question frequently thrown out by multiple groups of 5G users here since the fifth generation mobile networks went into commercial service at 11:00 p.m. on April 3, 2019 in South Korea, in a loudly-trumpeted world first. Over the past two years, the number of 5G users in Korea has steadily grown to account for about 20 percent, or 14.48 million, of total mobile subscriptions in the country as of end March, governm
May 30, 2021
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LG Electronics to launch beta test of robot lawn mower
LG Electronics said Sunday it will conduct a beta test of a robot lawn mower to develop a model optimized for Korean customers. This is the first time the company will conduct a demo test and develop a product together with customers. According to LG Electronics, it will receive 50 volunteers by June 11 and let them use the robot lawn mowers for two months. Based on their feedback, LG Electronics will develop a model customized to Korea’s residential environment. “Participants
May 30, 2021