[Herald Interview] Pakistan's population boom beckons Korean businesses: commerce minister

Highlighting Pakistan’s increasing demand for South Korea’s advanced technologies and expertise, Federal Commerce Minister Jam Kamal Khan emphasized vast opportunities for collaboration, supported by Pakistan’s young, tech-savvy workforce. Following the signing of the Economic Partnership Agreement between the two countries with Trade Minister Cheong In-kyo on Thursday, Khan addressed shared challenges, noting that many of Pakistani companies would benefit from trade agreements with Korea that r

Jan. 14, 2025

[Photo News] Kolon takes the wheel in Vietnam

Korean chemical and textile manufacturing company Kolon Industries announced Tuesday its plans to invest 30 billion won ($20.5 million) in expanding the company's tire cord production in Vietnam. The investment will boost production capacity to 57,000 metric tons annually by 2027, with the company repurposing idle equipment from its shuttered Nanjing plant in China to cut costs. The initiative supports Kolon's strategy to strengthen its global tire cord market presence and address increasing dem

Jan. 14, 2025

Woori-Natixis invests $150m in US data centers

South Korean banking giant Woori Financial Group has invested $150 million in two US data centers in partnership with French investment bank Natixis. The investment marks the first move under the strategic alliance between the two companies, signed in June 2024, to jointly establish a global private debt fund. The funds were directed towards data centers in Arizona and Virginia, with respective capacities of 176 megawatts and 110 megawatts. Both facilities are secured under 15-year lease agreeme

Jan. 14, 2025

Industry Minister reassures US officials in Washington

US lawmakers see South Korea as serving a critical role in the global supply chain and are willing to provide support, Korean Industry Minister Ahn Duk-geun said Monday, sharing his reflection after his visit to Washington last week. "During the trip, I learned that Korea’s industries play a big role in the global supply chain and the ecosystem. I met with foreign commerce chambers and investors after all the incidents, and they are all willing to help," Ahn said in a press briefing with reporte

Jan. 13, 2025

Korea, Honduras partner to fight deforestation

The Korea Forest Service announced Monday that it has signed an agreement with Honduras to protect forests and combat climate change. The memorandum of understanding, the first of its kind between the two countries, outlines a large-scale forest conservation initiative known as Reducing Emissions from Deforestation and forest Degradation, or REDD+. The project will focus on protecting and managing all forested areas across Honduras. At the signing ceremony held Thursday in Tegucigalpa, Nam Song-

Jan. 13, 2025

KT&G sets up Uzbekistan unit to expand Eurasian presence

South Korea's largest tobacco company KT&G on Monday announced its establishment of a subsidiary in Uzbekistan, aiming to boost profitability through local operations while continuing its strategic entry into the Eurasian tobacco market. The move follows the company's establishment of a branch office in Uzbekistan in 2023, with its transformation into a corporate subsidiary signaling a sustained commitment to building long-term competitiveness in the region. In line with the expansion, the compa

Jan. 13, 2025

SK Telecom launches new Nvidia-powered cloud service GPUaaS

SK Telecom said Monday that it has launched an artificial intelligence cloud service, SKT GPUaaS, following pilot operations of its new AI data center in Seoul on Dec. 30. Since unveiling its AI infrastructure superhighway strategy at the SK AI Summit 2024 in November, SK Telecom has accelerated efforts to establish its AI infrastructure business. This includes forming a dedicated AIDC business unit during a year-end organizational restructuring and the launch of graphics processing units-as-a-s

Jan. 13, 2025

Korean whisky? Scottish distiller opens new frontier in spirits

Scottish master behind Korea‘s first single malt distillery commits his 45 years of experience to elevating Korea's whisky reputation It might surprise you that South Korea, famed for its traditional spirit soju, is now producing a single malt whisky -- let alone one of remarkable quality. The newfound fervor for whisky here is breathing new life into the industry, with its future looking bright, partly thanks to Andrew Shand, a Scottish master distiller at Ki One Whisky Distillery. Shand brings

Jan. 13, 2025

[Photo News] Rice cakes for sharing

Hana Financial Group Chairman Ham Young-joo (front, right) poses for a photo during a rice cake donation event to celebrate the upcoming Lunar New Year holiday at the company’s headquarters in central Seoul on Saturday. The "Hana Love Volunteer Group" – comprised of executives, employees and their families – prepared rice cakes and packed gift boxes filled with traditional Korean festive foods to be delivered to single senior households and low-income families through a district welfare center.

Jan. 13, 2025

S. Korea seeks to expand technology cooperation with Israel, Japan

South Korea's industry ministry on Monday discussed ways to expand the country's bilateral cooperation with Israel and Japan to develop and advance technologies in high-end sectors, such as artificial intelligence and semiconductors. Director General for Technology Policy Je Kyung-hee held a virtual meeting with Alon Stopel, the chief scientist at Israel's innovation ministry, to review progress in joint research projects, according to the Ministry of Trade, Industry and Energy. The two countrie

Jan. 13, 2025

Tech giants focus on robotics, AI, Trump at CES 2025

Korean tech leaders take versatile roles from salesman to trade analyst LAS VEGAS -- The world's largest tech show CES 2025 once again highlighted technological advancements that could reshape the future, while also providing Korean tech giants a platform to address looming trade concerns under the incoming US administration. During the four-day event, which kicked off on Jan. 7, Samsung Electronics and LG Electronics focused on demonstrating their latest AI-powered home automation ecosystems an

Jan. 12, 2025

G-Dragon becomes new face of Hana Financial

The banking group aims at a younger, trendier image through its collaboration with G-Dragon. Hana Financial Group unveiled K-pop artist G-Dragon as its new face, signaling a bold shift from the brand's senior-centric focus to a younger, more innovative identity. The group announced in a statement Sunday that the long-celebrated musical icon and member of Big Bang will be representing its brand, describing him as "an icon of innovation and a generational trendsetter." “With his uniquely creative

Jan. 12, 2025

Korean biotech leaders to take center stage at JP Morgan Healthcare Conference

A slew of Korean companies are set to showcase their latest developments from contract manufacturing to antibody drug conjugates pipelines at the 2025 JP Morgan Healthcare Conference, the world’s largest event in the pharmaceuticals and biotech industry, kicking off Monday in San Francisco. Now in its 43rd edition, the annual January gathering serves as a key platform for networking and collaboration, drawing industry experts and investors while offering insights into the latest trends and innov

Jan. 12, 2025

HD Hyundai starts building 4 naval vessels in Peru

HD Hyundai Heavy Industries, the world’s largest shipbuilder and an affiliate of HD Hyundai, has begun constructing four military vessels in Peru, establishing its foothold in the Latin American military ship market. HD Hyundai announced on Sunday that Hyundai Heavy Industry held a launch ceremony for the Peru warship project at a shipyard in Callao, Peru, owned by Servicios Industriales de la Marina, a Peruvian navy-owned shipbuilding company. This announcement follows a deal worth approximatel

Jan. 12, 2025

S. Korea's kimchi exports hit fresh high last year: data

South Korea's exports of kimchi increased 6.9 percent from a year earlier to hit a record high in 2024, driven by growing global popularity of Korean cuisine, government data showed Sunday. Outbound shipments of kimchi, a traditional Korean side dish typically made from fermented cabbage, reached a fresh high of 47,100 tons, according to data compiled by the Ministry of Agriculture, Food and Rural Affairs. The country had exported 44,000 tons of kimchi in 2023 and 41,100 tons in 2022. The value

Jan. 12, 2025