The Korea Herald

Ex-PM suggests anti-takeover measures for VCs, startups

MarketsMay 6, 2021

Former Prime Minister Chung Sye-kyun on Thursday suggested implementing measures to protect management rights at local venture capital firms and startups, before expanding it to bigger companies. “Korea still lacks institutionalization of anti-takeover measures. I believe the country’s relatively short corporate history is the key reason behind the absence of a poison pill system and dual-class share system,” Chung said at a meeting with chief executive officers of listed fir
[Herald Interview] How banking giants can survive the disruption of digitalization

MoneyMay 6, 2021

Banking leaders need to ditch top-down approach, be ready for speedy decision to solve multifaceted conflicts　
[Today’s K-pop] EXO’s Baekhyun starts military service

K-popMay 6, 2021

Baekhyun of EXO shared photos of himself with close-shaven hair, bidding a temporary farewell to his fans, on Thursday. There also was a picture with bandmate Seho who was touching his hair with a smile. The veteran idol began his training the day, coinciding with his birthday. The exact time and venue were not announced. After three weeks of training, he will start his alternative duty as a public service worker, as he has hypothyroidism. He first shared the news of his enlisting
Gavi expects delay in vaccine shipments to North Korea

North KoreaMay 6, 2021

North Korea will receive COVID-19 vaccines as early as July with a shipment delay over global supply shortages, the Gavi alliance, which co-leads the COVAX vaccine sharing program with the World Health Organization, said Wednesday. “Depending on the supply situation, a COVID-19 vaccine introduction could be envisaged in the second half of 2021,” a Gavi spokesperson told Radio Free Asia, refraining from fixing concrete dates. The North was expected to receive nearly 2 million doses o
Roche Diagnostics receives approval for COVID-19 test

TechnologyMay 6, 2021

Roche Diagnostics Korea announced Thursday that the company has received approval for the cobas test, an assay used to specifically detect the severe acute respiratory syndrome coronavirus in laboratories settings. According to Roche, the cobas test is capable of qualitative detection and differentiation between SARS-CoV-2, Influenza A and Influenza B present in nasal swab samples collected from individuals suspected of a respiratory infection. Roche’s laboratory-based assay cobas SARS
Samsung’s foundry biz enhances chip packaging tech

TechnologyMay 6, 2021

Samsung’s foundry biz enhances chip packaging tech By Song Su-hyun Amid the heightening competition in the global chip foundry market, Samsung Electronics unveiled a new packaging technology Thursday that would help differentiate its foundry service. Samsung said it has completed the development of the next-generation 2.5D packaging technology named Interposer-Cube4, or I-Cube4, which is immediately available for customers. Samsung’s I-Cube is a heterogeneous integration technology that hor
Dunamu steps up efforts to protect crypto investors

MarketsMay 6, 2021

Dunamu, an operator of cryptocurrency exchange Upbit, said Thursday that it will spend 10 billion won ($8.9 million) to set up a unit to protect crypto coin investors. The planned launch of the in-house unit, tentatively named Upbit protection center for digital asset investors, is part of the company’s efforts to join the environment, social and governance trend, which has been gaining traction worldwide recently. In addition to the establishment of the investor protection center this ye
Argentinian doc wins grand prize in Jeonju film fest international section

FilmMay 6, 2021

‘Kim Min-young of the Report Card’ co-directed by Lee Jae-eun, Lim Ji-sun wins Korean competition grand prize
Doosan Heavy to extract hydrogen from plastic waste

IndustryMay 6, 2021

Doosan Heavy Industries & Construction will transform plastic waste into gases by heating it up, and extract hydrogen from those gases, the company said Thursday. Seeking to jointly develop the hydrogen extraction system, Doosan Heavy has partnered with RevoTech, a local plastic pyrolysis firm which possesses the technology involved in feeding plastic waste non-stop into heating equipment. The initial goal is to develop within the year a hydrogen reformer that can produce 0.3 metric ton
[Herald Interview] American Manganese on lookout for opportunities in Korea

IndustryMay 6, 2021

Vancouver-based firm says its tech retrieves almost 100 percent key metals from defective EV batteries, creates value from scraps
Seoul stocks advance on hopes for global economic recovery

MarketsMay 6, 2021

South Korean stocks advanced Thursday as hopes for a global economic rebound offset inflation worries. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 31.37 points, or 1 percent, to close at 3,178.74 points. Trading volume was moderate at about 1.2 billion shares worth some 16.4 trillion won ($14.6 billion), with gainers outnumbering losers 733 to 157. Foreigners sold a net 99 billion won, extending their selling streak to a seventh sess
Foreign minister calls for greater vaccine cooperation at G-7 summit

Foreign affairsMay 6, 2021

Foreign Minister Chung Eui-yong has called on the international community to work together for the fair distribution of the COVID-19 vaccines at the meeting of Group of Seven countries, amid Seoul’s rising concern over a looming vaccine shortage. 　 Chung joined the in-person gathering of G-7 foreign and development ministers meeting in London from Tuesday to Wednesday, the Foreign Ministry said Thursday. South Korea was invited as a guest -- along with Australia, India, South Africa and
[Feature] Gender-based conflicts escalate in Korea

Social affairsMay 6, 2021

Tough life of young people lurk behind the hatred
Kakao’s Q1 profit hits record high on mobility, fintech business growth

TechnologyMay 6, 2021

Kakao Corp., the operator of South Korea’s top messaging app KakaoTalk, posted a record-breaking revenue of 1.25 trillion won ($1.1 billion) for the first quarter, up 45 percent from a year earlier, the company said Thursday. Its operating profit also rose by 79 percent to a record-breaking 157.5 billion won during the same period, largely on the back of its taxi-hailing and digital wallet services. The relatively new platform business, including Talk Biz, Portal Biz and New Business, ra
Citibank Korea vows to stay committed to local market

MarketsMay 6, 2021

Citibank Korea, the South Korean unit of Citigroup, has pledged to continue its role in supporting the country’s financial system, regardless of its parent company’s plan to withdraw retail banking operations in the nation, the lender said Thursday. Last month, the US banking giant announced that it would exit its consumer banking units in Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan and Thailand, as part of its