Most Popular
-
1
Samsung under pressure after Intel's foundry spin-off: analysts
-
2
Yoon leaves for Prague to cement nuclear energy push
-
3
Heavy rain to fall nationwide over weekend, but warmer fall expected
-
4
Seoul chastises predatory pricing claims over Czech nuclear export deal
-
5
YouTuber under fire for consoling former singer accused of bullying
-
6
NK newspaper 'unusually' silent on new missile tests: Seoul
-
7
Samsung CEO introduces ‘bold growth’ as new target
-
8
Bank of Korea eyes rate cut after US Fed's historic pivot
-
9
3 suspects apprehended for selling celebrity deepfake porn: police
-
10
Hyundai Motor officially becomes KT’s largest shareholder
-
Yuhan-Kimberly partners with forestry agency, environmental group to create forest
Yuhan-Kimberly has teamed up with the Korea Forest Service and an environmental organization to create a forest dedicated to carbon neutrality, the South Korean hygiene product manufacturer said Tuesday. According to the company, the firm, the state-run Korea Forest Service and Forest for Life agreed to work together to plant trees in Seokpo Forest in Yongin, Gyeonggi Province, to establish what they christened the carbon neutrality forest. On April 8, the company held a signing ceremony a
April 20, 2021
-
[Herald Interview] World’s No. 1 Tekken player vows to keep playing until 100 trophies
A falling apple prompts a young Isaac Newton to develop laws of gravity. Greek philosopher Archimedes figures out volume and density while taking a bath. For geniuses, every detail is a source of inspiration. For Tekken genius Bae Jae-min, also known as “Knee,” his inspiration for developing a killer combo move came from a frivolous skill that baffled other players over why it even existed. The “taunt” skill is a trademark move of Bryan Fury, a character from Tekken,
April 20, 2021
-
Shinhan launches all-around mobile payment solution
South Korea’s Shinhan Financial Group on Tuesday launched a mobile payment solution, as traditional banking groups seek to bolster their digital capabilities in competition against rising fintech firms. The payment solution, Shinhan Pay, provides Shinhan Card subscribers with easy-to-use payment services and money transfers at several offline stores. For Shinhan Bank users, Shinhan Pay allows them to easily subscribe and activate mobile debit cards linked to their bank accounts. Shin
April 20, 2021
-
KOSPI soars to all-time high on recovery hopes
The South Korean benchmark stock index refreshed its all-time high Tuesday, extending its winning streak to a seventh session amid speculations of a global economic rebound and strong corporate earnings in the first quarter. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 21.86 points, or 0.68 percent, to close at 3,220.7 points, the highest finish since the closing of 3,208.99 points on Jan. 25. Trading volume was moderate at about 1.3
April 20, 2021
-
Samsung’s Lee family to announce inheritance tax plan next week
The bereaved family of Samsung Group Chairman Lee Kun-hee will make public its plans for the late tycoon’s massive personal wealth, estimated to be worth over 30 trillion won ($26.98 billion), industry sources said Tuesday. The plan will include donations of art from the chairman’s collection and the allocation of his stocks to family members, including Lee Jae-yong, his son and successor in the Samsung empire. It will also detail how the family plans to pay the inheritance taxes.
April 20, 2021
-
Shinhan Bank partners Kakao Mobility to support taxi drivers
Shinhan Bank said Tuesday it has signed a memorandum of understanding with Kakao Mobility to financially support the taxi-hailing company’s employees and cooperate on developing new business models. Under the deal, Shinhan Bank will provide loan programs offering favorable interest rates to taxi drivers and employess of nine taxi compnies operated by TJ Partners. The company is a subsidiary of Kakao Mobility, an affiliate of the country’s dominant mobile messenger operator,
April 20, 2021
-
S. Korea to become non-regional partner of Central American bank in August
SEJONG -- South Korea will become a non-regional partner of the Central American Bank for Economic Integration (CABEI), a regional lender of Central American nations, in August, officials said Tuesday. In January last year, South Korea joined the multilateral lender and provided $630 million to the CABEI for a 9 percent stake in the lender. A non-regional member could become a partner of the CABEI if its stake is above 8 percent, according to Seoul's finance ministry. South Korea and the CABE
April 20, 2021
-
T’way Air finalizes lease deal to introduce midsize jetliners early next year
Low-cost carrier T’way Air said Tuesday it has signed a deal to lease three midsized aircrafts A330-300 with plans to roll them out early next year. The plan will see the airline introduce a new fleet of aircrafts gradually between February and May in 2022. With the jetliner boasting a wide body, the airline will offer business and economy seats and a wider range of in-flight amenities. The airline said the move following the signing of a letter of intent in December will bolster its bu
April 20, 2021
-
LG's Vietnamese smartphone production line to make home appliances
South Korean tech giant LG Electronics Inc. said Tuesday it plans to produce home appliances from its smartphone manufacturing line in northern Vietnam, as the company earlier decided to fully withdraw from the mobile business. Under the plan, the company will complete the transformation within this year while reallocating affected workers, LG Electronics said in a statement. "Exiting smartphone production here is part of LG's plan to restructure our core product portfolio," said Jun
April 20, 2021
-
Chiefs of 50 biz groups receive W1.8tr in dividends in 2020
Dividends paid to the chiefs of South Korea's top 50 business groups jumped 37.1 percent last year from a year earlier as major companies delivered more returns to shareholders, industry data showed Tuesday. A total of 39 heads of the nation's 50 conglomerates received a combined 1.8 trillion won ($1.6 billion) in 2020, according to the data by the local research firm Korea CXO Institute. Dividends to late Samsung Group Chairman Lee Kun-hee amounted to 862.6 billion won last year, which acco
April 20, 2021
-
Korean asset managers rush to ramp up green drive
South Korea’s asset management companies are beefing up their drive to take environmental, social and governance factors into account, by endorsing an international climate initiative and by creating an internal body to monitor the green investing process. On Tuesday, three Seoul-based asset management firms -- KB Asset Management, Samsung Asset Management and its subsidiary Samsung Active Asset Management -- announced that they have joined a cohort of some 2,000 organizations from 7
April 20, 2021
-
Brokerages' overseas operations see profit gain in 2020
Overseas branches of South Korean securities companies saw their combined net profit rise 5.6 percent in 2020 from a year earlier due mainly to increased earnings from commission fees, data showed Tuesday. The combined net profit of 70 overseas branches of 14 securities companies stood at $197.3 million in 2020, up $10.5 million won from 2019, according to the data from the Financial Supervisory Service. The hike in net profit came on the back of increased interest income and earnings from com
April 20, 2021
-
McDonald's to release BTS meal in nearly 50 countries
Fast food restaurant chain McDonald’s has announced that it is teaming up with popular Korean group BTS for a new celebrity meal which will hit the stores next month globally. The BTS Meal consists of a 10 Chicken McNuggets, medium fries, a medium Coke as well as Sweet Chili and Cajun dipping sauces inspired by popular recipes from the South Korean unit of McDonald’s, which will be available for the first time in the US. The new collaboration, which follows the company’s prev
April 20, 2021
-
Doosan preparing to tap global hydrogen market
Doosan Group said Tuesday that it has been gearing up to tap the global hydrogen market by forming a task force to conduct market research. Doosan Group formed a task force under its holding company Doosan Corp. to conduct the project that will review the markets of production, distribution and utilization of hydrogen, the group said. Doosan has affiliates under its wing such as power plant builder Doosan Heavy Industries & Construction Co., fuel cell manufacturer Doosan Fuel Cell Co. and
April 20, 2021
-
S. Korea seeks to tackle rising non-tariff trade barriers
South Korea's trade ministry said Tuesday it plans to cooperate with major trade partners to cope with the growing number of technology barriers in the global market. Members of the World Trade Organization (WTO) issued 1,023 technical barriers to trade (TBT) over the January-March period, up 7 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. TBTs, which include consumer safety standards, energy and environmental requirements, are often
April 20, 2021
-
Seoul stocks open higher on earnings hope
South Korean stocks opened higher Tuesday on investors' hopes of strong corporate earnings in the January-March quarter amid speculation of a global economic rebound. The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.86 points, or 0.18 percent, to 3,204.7 points in the first 15 minutes of trading. Stocks got off to a strong start despite increased valuation pressure from the six-day winning streak, as brokerages projected strong quarterly performances by local big-name companies.
April 20, 2021
-
S. Korea to keep tabs on possible global financial instability: senior official
South Korea will keep close tabs on the impact of possible greater global financial volatility on the country's economy and private-sector debt, a senior finance ministry official said Tuesday. Concern has been escalating over the possibility of rising interest rates and consumer prices across the globe, which could make world financial markets more volatile. "The global financial market, which has long been accustomed to low prices and rates, could suffer from a tantrum if worries over h
April 20, 2021
-
State oil firm falls into complete capital erosion
The state-run Korea National Oil Corp. (KNOC) lapsed into a complete capital erosion in 2020 as its liabilities exceeded assets due to continued losses, data showed Tuesday. KNOC's liabilities stood at 18.64 trillion won ($16.7 billion) as of the end of last year, up nearly 514 billion won from a year earlier, according to the data posted on the state portal All Public Information in One (ALIO). In contrast, its assets amounted to 17.5 trillion won, down 1.12 trillion won from the previous yea
April 20, 2021
-
Coca-Cola hopeful COVID-19 vaccines will reverse profit slide
NEW YORK (AFP) -- Coca-Cola reported Monday a decline in first-quarter earnings amid continued weakness in away-from-home sales, but said increased vaccine availability was boosting sales in some markets. The soda giant, which relies on sporting events, concerts and other public venues for a significant fraction of its sales, described performance as a mixed bag, depending on the region. Coca-Cola scored stronger volumes in China and India, but lower volumes in the United States and Europe du
April 19, 2021
-
[Top Bankers] Hard-nosed dealmaker at the crossroads as SsangYong stares down the barrel
This is a part of a series of interviews and analyses of South Korea’s top bankers, policymakers and investors leading the financial industry here. This is the fourth installment. -- Ed. Korea Development Bank Chairman Lee Dong-gull, the first KDB chief in 26 years to serve a second term, has sought to change the public image of the state-run investment bank as an inconsiderate spender of unlimited amounts of public money to indebted companies. Since assuming office in 2017, Lee, 68, ha
April 19, 2021