Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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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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Medical reform committee kicks off despite boycott from doctors
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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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LG to invest $100m to build massive computer system for AI development
LG Group announced Monday that it plans to invest over $100 million over the next three years to develop high-performance computing infrastructure for artificial intelligence development. LG Group’s AI research and development unit LG AI Research will build computing infrastructure with 600 billion machine learning parameters. The new computing system, capable of making 95.7 quadrillion calculations per second, will be introduced during the second half of the year and followed by an AI m
May 18, 2021
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LG Innotek holds online and offline exhibitions for partners, general public
LG Innotek, LG Group’s cutting-edge manufacturer of materials and components, is holding an exhibition to showcase its business history, current market status and product lineups. It will take place online and offline simultaneously. The purpose of the event is to help LG Innotek’s business partners and the public to better understand the company, it said. The online exhibition comprises two separate segments. One is designed especially for the company’s corporate partners,
May 18, 2021
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Samsung unveils 3 new power management ICs for DDR5 DRAM modules
Samsung Electronics Co. on Tuesday unveiled new power-controlling chips that minimize overall power consumption while boosting performance of dynamic random-access memory (DRAM). The world's largest memory chip producer said its three power management integrated circuit (PMIC) products -- S2FPD01, S2FPD02, and S2FPC01 -- are available for DDR5 DRAM modules. A PMIC is an integrated circuit that receives the main power input and distributes the power to each electronics part with efficiency an
May 18, 2021
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Clubhouse to launch Android version in S. Korea
Audio-based social networking service Clubhouse will launch on Google's Android operating system in South Korea this week, its US-based developer Alpha Exploration Co. said Tuesday, in a move to expand its growing user base. While the app had previously been available only on iPhones, the company said it will upload a beta version of the app available for download on Google Play in South Korea on Wednesday. The audio social media app, in which users enter rooms to chat with one another by voic
May 18, 2021
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Seoul stocks open higher on institutional buying
South Korean stocks opened higher Tuesday as institutional investors sought to pick up oversold shares after the index declined the previous session amid lingering inflation concerns. The benchmark Korea Composite Stock Price Index (KOSPI) rose 16.13 points, or 0.51 percent, to 3,150.65 points in the first 15 minutes of trading. The local index rebounded, led by institutional buying, after the KOSPI dipped 0.6 percent the previous session, shrugging off an overnight decline on Wall Street. In
May 18, 2021
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Budget carriers suffer extended losses in Q1 over prolonged pandemic slump
South Korea's low-cost carriers suffered an extended loss in the first quarter as the coronavirus continued to weigh on travel demand, data showed Tuesday, raising concerns over their ability to stay afloat even after the pandemic. Budget carriers have grounded most of their flights on international routes since early 2020 as many countries placed restrictions amid virus fears, facing cutthroat competition for cheap domestic flights. While the nation's full-service carriers have managed to ma
May 18, 2021
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KakaoBank’s Q1 net profit jumps 150%
KakaoBank, South Korea’s biggest online bank, saw more than a 150 percent growth in its first-quarter net profit due to an increase in interest income and transaction fees, the firm said Monday. Its net profit stood at 46.7 billion won ($41.1 million) in the first quarter, up 152.4 percent from 18.5 billion won from the same period last year, according to the banking unit of mobile giant Kakao. The company’s profit from transfer fees turned around from a net loss of 3.1 billion w
May 18, 2021
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Coupang launches “Global Shopping Day,” offers up to 40% discount
Coupang, South Korea’s e-commerce giant, is offering discounts of up to 40 percent on overseas direct purchases and Coupang direct import items for three days through through Wednesday, as part of its “Global Shopping Day.” Items are organized by theme for the three-day event to help customers shop with more ease and convenience. Under the theme “Get ready for summer now,” customers can shop for home gym equipment and dietary supplements such as protein supplem
May 17, 2021
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N.Thing to export smart farms to UAE after $3 million deal
South Korean agriculture technology company N.Thing said Monday that it has recently inked a $3 million deal with Sarya Holdings in the United Arab Emirates to export smart farms. The contract, set to proceed next month, will allow the firm to construct vertical smart farming containers in the UAE by December this year. The container can reduce the use of water up to 98 percent compared to a typical farm and cultivate crops in any environment, whether that is in Siberia, the Middle East, or
May 17, 2021
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MMAA hires ex-Lotte insurance CIO
South Korean institutional investor Military Mutual Aid Association has named Lee Sang-hee, former top investor at Lotte Non-Life Insurance, as its new chief investment officer, the firm said Monday. Lee’s three-year term will start on Thursday, according to the institutional investor who manages 12.7 trillion won ($11.18 billion) in assets as of 2020. He will be responsible for overseeing 5 trillion-won worth of financial assets at MMAA -- including equities, fixed-income and alternative
May 17, 2021
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Climate response fund to be set up in 2022 to bolster renewable energy transition
The South Korean government will support the development and commercialization of clean energy technologies and set up a climate response fund next year to achieve the goal of going carbon neutral by 2050. Finance Minister Hong Nam-ki said Monday that preparation for the scenario to achieve net zero emissions is “in full swing,” while stressing the importance of a preemptive policy response related to climate cooperation. South Korea plans to bolster its original target of reduci
May 17, 2021
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Will Samsung’s $17b US investment be enough to survive chip race?
The race to outpace competitors with massive capacity expansions is intensifying among global chip manufacturers and the time for Samsung Electronics to announce its own investment plans is approaching. While South Korea is pinning its hopes on Samsung, the world’s No. 1 memory player, to announce massive investments as early as this week, the market is paying close attention to the size of its spending commitment and whether it will be enough for the Korean chipmaker to maintain its p
May 17, 2021
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[#WeFACE] Future can’t develop like past: Hanhwa CTO
The Korea Herald is publishing a series of interviews with executives of South Korea’s leading corporations on their response to environmental, social and corporate governance, or ESG, issues, which have become central factors globally in measuring the sustainability of an investment or business decision. -- Ed. Though expensive and difficult to make, green hydrogen is the call of the times, says Jeong Ji-won, chief technology officer at Hanwha Q Cells, a solar-to-hydrogen unit of
May 17, 2021
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ETRI develops non-explosive hybrid electrolytes for EV batteries
South Korea’s state-run Electronics and Telecommunications Research Institute said Monday it has developed hybrid electrolytes for lithium-ion batteries that are free from explosions. Lithium-ion batteries are charged and discharged when lithium ions go back and forth between the positive side and the negative side. Lithium-ion batteries are filled with liquid called electrolytes, which help the ions travel. As liquid electrolytes are flammable, efforts have been made to develop solid
May 17, 2021
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Hanwha, KAIST to launch intersatellite-link project
Space Hub, an aerospace task force of Hanwha Group, will form a joint space research center with the Korea Advanced Institute of Science and Technology to launch an intersatellite-link project. Hanwha and KAIST will invest 10 billion won ($8.8 million) into the space research center, the largest one formed by a private company and a university, officials said Monday. The first project will involve the development of intersatellite-link technology, which enables data transmission by shooting las
May 17, 2021
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SK Chemicals buys 10% stake in Chinese recycled plastic firm
SK Chemicals said Monday that it acquired a 10 percent stake in Shuye, a Chinese firm that specializes in recycling plastic waste, to commercialize eco-friendly plastic called glycolmodified polyethylene terephthalate, or PETG. PETG is a plastic free of environmental hormone bisphenol A, an industrial chemical used to manufacture typical plastic. PETG offers the same transparency as glass but offers greater durability. PETG made by SK Chemicals is currently supplied to global cosmetics brand
May 17, 2021
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[Herald Interview] Time is ripe for Korean property investors to increase risk profiles
South Korean investors have relied on core assets overseas, such as fully-tenanted commercial buildings in prime locations, but market changes and a low-interest environment across the globe mean that it’s time to change tack from such risk-averse approaches, an expert said. “Safe bets are no longer safe but expensive and scarce. Price competition is intensifying surrounding core assets because they are seeing a higher demand at home and abroad,” said Kim Jong-min, head of ove
May 17, 2021
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KB Asset raises W1tr for AMP Capital’s infra debt funds
Seoul-based KB Asset Management said Monday it has fetched a total of 1 trillion won ($882.1 million) for infrastructure debt exposure in developed countries under a fund-of-funds scheme with Australia-based AMP Capital. The third-largest firm in Korea by the assets under management has raised a recent undisclosed amount of additional commitment from institutional clients for the private debt fund, reaching the milestone five years after it signed a memorandum of understanding with AMP Capital
May 17, 2021
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Seoul stocks dip amid virus woes in Asia
South Korean stocks closed lower Monday as investors took caution over rising coronavirus cases in parts of Asia and assessed China's latest economic data that partially missed expectations. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 18.80 points, or 0.6 percent, to 3,134.52 points. Trading volume was moderate at about 758.87 million shares worth some 14.33 trillion won ($12.6 billion), with losers outnumbering gainers 587 to 277. Foreigner
May 17, 2021
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Fashion brand Juun.J unveils uniform for Hybe’s museum staff
South Korean fashion brand Junn.J has revealed the uniform for staff at entertainment giant Hybe’s new museum. The ensemble consisting of a white T-shirt and a black wide sleeve top and a pair of black cargo jogger pants will be worn by staff at Hybe Insight, which opened last week on the two basement floors of Hybe’s new headquarters in Yongsan, central Seoul. The design took on board Hybe Insight’s image, a venue where music can be experienced in various ways and Junn. J&rs
May 17, 2021