Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Doctors' group picks new leader amid tense standoff over increased enrollment quota
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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[Hello India] Corporate Korea sees new growth drivers in India
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IPO market attracts record subscription deposits in 2020
The local initial public offering market was all the rage in 2020 as nearly 300 trillion won ($272.9 billion) poured in, three times more than 2018 or 2019, according to industry data on Sunday. This year’s IPO market will come to a close with materials firm Sukgyung AT making its debut on Wednesday. Other than special-purpose acquisition companies and companies that merged with listed firms, a total of 76 companies were newly listed on the nation’s main Kospi and secondary Kosd
Dec. 20, 2020
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[Women in Finance 5] Singapore sees more women in senior management
The Korea Herald is publishing a series of special reports on the glass ceiling in the financial industry, focusing on South Korea’s market compared to other major economies. Funded by The Korea Press Foundation, the series will evaluate where Asia’s fourth-largest economy stands in terms of gender equality, reflect on changes being made, and explore ways to boost inclusion in the sector. -- Ed. SINGAPORE -- At Singapore’s three major local banks, women account for more than
Dec. 20, 2020
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S. Korea mulls including rental assistance for virus-hit merchants in emergency handouts
South Korea is considering providing rental assistance to smaller merchants hard hit by the new coronavirus outbreak, when it will give them another round of emergency handouts next month, people familiar with the matter said Sunday. The move comes as more smaller merchants and self-employed people are facing the growing burdens of paying rental fees due to the government's order to suspend their business amid the protracted pandemic. The country is preparing to provide more than 3 trillion wo
Dec. 20, 2020
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Brokerages raise stock price outlook for 2021 on global recovery, ample liquidity
South Korean brokerage houses predicted the local stock market would continue its uptick move in 2021, citing signs of a global economic recovery and growing investor appetite for higher returns, data showed Sunday. Multiple securities companies set their upper-end target band for the benchmark Korea Composite Stock Price Index (KOSPI) above 3,000 points, showing greater confidence from a month ago. Between end-October and early November, brokerages had expected a band of 2,100-2,700 points,
Dec. 20, 2020
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KDB to discuss loan rollover for SsangYong this week
The state-run Korea Development Bank (KDB), the main creditor of SsangYong Motor Corp., is set to decide on whether to roll over maturing loans extended to the financially troubled automaker this week, industry sources said Sunday. Last week, SsangYong already missed the repayment of 60 billion won ($54.8 million) of debt to its three creditors. According to the sources, KDB will discuss whether to roll over 90 billion won in loans due Monday. The South Korean subsidiary of Indian carmaker Ma
Dec. 20, 2020
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[Weekender] What does the date on your milk mean?
No one wants to get sick from eating food gone bad. So it happens to be a common experience for Koreans to sniff and check the color of food to see if it is still edible, and to discard it when they find out a couple of days have passed from the “sell-by” date on the package. But just as the term indicates, it is not the deadline for the product’s consumption. It is the date by which the product must be sold. This confusion over the date labeling system is costing the soc
Dec. 19, 2020
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SK Group's Chey Tae-won elected as vice president of Asian sports governing body
Chey Tae-won, chairman of South Korea's SK Group, has been named vice president of the Olympic Council of Asia (OCA), the top sports governing body on the continent. "The General Assembly elected a new OCA Vice President to serve as coordinator for the 90 sports federations that take part in the five OCA multi-sport games: Chey Tae-won, Vice President of the Asian Handball Federation and President of the Korea Handball Federation," the OCA said on its website after its general asse
Dec. 18, 2020
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KRX names former FSC vice chief as new chief exec
South Korea’s sole bourse operator has named Sohn Byung-doo, former vice chairman of the Financial Services Commission, to take the new chief post of the Korea Exchange, according to the officials Friday. Sohn’s CEO appointment was approved by shareholders of the Korea Exchange, they added. Prior to the shareholders meeting, he was named as the single candidate for the position earlier this month. Sohn, 56, has had a 30-year career in the civil service. He worked at the Ministry
Dec. 18, 2020
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Finance Ministry warns of growing economic uncertainty
With a new wave of coronavirus infections gripping the nation, South Korea’s economy this month faces growing uncertainties, the Ministry of Economy and Finance said Friday. In its monthly economic report, called the “Green Book,” the ministry has upgraded its concerns on Asia’s fourth-largest economy by a notch, saying that the uncertainties are “expanding.” It has previously said that the uncertainties were “continuing” in the reports released i
Dec. 18, 2020
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Hyundai Motor Group unveils AI-based Korean-English translation app
Hyundai Motor Group said Friday it has developed a Korean-English translation app to support smooth communication among its employees in local and overseas offices. Dubbed the H-Translator, the app is based on artificial neural network (ANN) algorithm and is specialized in the automobile industry, the South Korean automaker said. Hyundai explained that it has come to develop the translator to support timely communication and strengthen work efficiency, as the company has been actively recrui
Dec. 18, 2020
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Korea urged to strengthen its own technology amid US-China trade war
South Korea needs to focus on strengthening its technical competence as the trade war between the US and China and tech decoupling continues, an economic researcher warned Friday. Speaking at an online conference entitled “Next Trend,” associate researcher Yeon Won-ho at the Korea Institute for International Economic Policy said it is hard for South Korean businesses to benefit from the sanctions between the US and China as both countries are focusing on building their domestic indu
Dec. 18, 2020
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Coupang holds customer experience story contest
Online retailer Coupang is holding a contest of consumer experience stories, with prize money of 25 million won ($23,000) in total. Coupang users with stories to share should submit their entry to its website or on its mobile platform by Dec. 27. The retailer is best known for its next-day Rocket Delivery service. “We prepared this event to communicate with and express our appreciation to the customers,” said the e-commerce giant in a statement. “While this is a tough tim
Dec. 18, 2020
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KOTRA fills in for Korean SMEs in Vietnam exhibition amid COVID-19 restrictions
The state-run Korea Trade-Investment Promotion Agency is holding a “hybrid” exhibition in Vietnam’s Ho Chi Minh City in an effort to help small- and mid-sized Korean firms, the agency said Friday. KOTRA opened a Korean booth at the Saigon Exhibition and Convention Center, as part of the three-day specialized exhibition that runs from Thursday to Saturday. The event was organized by the city’s Department of Industry and Trade to help businesses boost production, develop
Dec. 18, 2020
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Mercedes-Benz sponsors LOL All-Star Event as exclusive partner
Mercedes-Benz Korea is sponsoring the year-end League of Legends event, in an extended move to promote the prestige automobile brand to the young generation, the company said Friday in a release. The 2020 League of Legends All-Star Event kicked off Friday to run until Sunday, in which the German automaker is to take part as the sole official partner. In September this year, Mercedes-Benz Korea became the first luxury car brand to be named the official partner of LOL publisher Riot Games and s
Dec. 18, 2020
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GM Korea workers OK revised 2020 wage deal
Unionized workers at GM Korea Co. agreed Friday to accept the company's revised wage proposals amid the prolonged COVID-19 pandemic. GM Korea workers voted in favor of the second tentative wage and collective agreement deal in a two-day vote that ended on Friday. The workers rejected the first tentative deal earlier this month. In the second deal, GM Korea agreed to drop a damage suit filed against the union for strike-driven output losses and provide 4 million won ($3,600) per worker in perfo
Dec. 18, 2020
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SK Innovation reiterates Georgia plant benefits US economy
SK Innovation’s aggressive battery investments have trickle-down effects for local businesses in Korea and the US, the Korean firm claimed Friday, as it sought to burnish its contributions to the economy ahead of a lawsuit ruling in the US. The energy firm is currently building two electric battery plants in the US state of Georgia. The first of those, with capacity of 9.8 GWh of production a year, is expected to be finished and start test runs next year. It is due to enter full-fledged o
Dec. 18, 2020
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Korean Air CEO receives honor from French government for building ties
Korean Air CEO Cho Won-tae has been awarded with a gold medal of honor medal by the French government for his contributions to enhancing relations between Korea and France. During a ceremony in Seoul on Thursday, Franck Rieste, the visiting minister-delegate for Foreign Trade and Economic Attractiveness of France, bestowed the honor on the Korean businessman for continuing direct flights between the two countries despite a sharp decrease in passengers. The medal is given to those who have cont
Dec. 18, 2020
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Seoul stocks hit new high on US stimulus hopes
South Korean stocks rose slightly to reach a record high Friday, buoyed by optimism over US stimulus talks despite a spike in local COVID-19 cases. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.75 points, or 0.06 percent, to close at 2,772.18. Trading volume was high at about 1.05 billion shares worth some 18.9 trillion won ($17.2 billion), with gainers outnumbering losers 491 to 342. Foreigners sold a net 192.4 billion won, while in
Dec. 18, 2020
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Lemonex wins Innovation Winner 2020 with DegradaBALL
Lemonex, a South Korean biotherapeutics and biotech company, was acknowledged with an Industry and Energy Ministerial prize for technology innovation at the Innovation Winner 2020 awards. The Innovation Winner 2020 was hosted by Herald Corp. in collaboration with monthly magazine PowerKorea on Thursday. Lemonex won for its original drug delivery technology called DegradaBALL. “DegradaBALL enables effective delivery of various new drug candidates into cultured cells or lesions by loading
Dec. 18, 2020
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Most expensive house in Korea: Shinsegae chairwoman’s W30b residence
A Hannam-dong residence in central Seoul owned by Shinsegae Group’s chief retained its top position as the most expensive house in Korea, data showed Friday. The value of Shinsegae chairwoman Lee Myeong-hee’s 2,862-square-meter house, as assessed by the government, was 29.53 billion won ($26.88 million), up 6.6 percent from this year. Lee is the younger sister of late Samsung Group Chairman Lee Kun-hee. Previously, the house’s declared price surged by 59.7 percent on-year fro
Dec. 18, 2020