Limited package including five Pokemon stickers comes with 1.28m won price tag

South Korean battery cell makers and the materials industry are seeking supply chain vigilance as prices of key materials such as lithium and nickel continue to skyrocket due to geopolitical uncertainties such as Russia‘s invasion of Ukraine. On Monday, officials of the Korea Battery Industry Association are to fly to the United States to discuss ways to stabilize the battery supply chain for el...

South Korea is lagging behind in revising regulations to prepare for the commercialization of autonomous vehicles compared to other major countries such as the US, Germany and Japan, a Seoul-based think tank said Sunday. The market size of autonomous, or self-driving, vehicles is expected to grow from $7.1 billion in 2020 to $1 trillion by 2035, a report by the Korea Economic Research Institute ...

Standard Chartered Bank Korea said on Friday that it will offer an annual before-tax interest rate of 2 percent on savings for new bank customers subscribing to its My Signature Account. The promotional event will last through May 31. My Signature Account, launched in July 2021, is a checking account that specializes in residual fund management. It has provided customers with high and stable int...

The Korea Herald, AmCham Korea to co-host metaverse forum on May 2

Craving overseas travel? Better book in advance, experts say

Nearly 7 in 10 foreign buyers think that South Korea’s national brand is having a positive impact on their purchases of products from Asia‘s fourth-largest economy, a poll showed. According to the survey of 213 foreign buyers, 72.9 percent of the respondents replied that their imports of South Korean goods have been affected positively by the country’s national brand. Slightly over 25.4 perc...

Posco said Friday that it has kicked off construction of a new 1 trillion won ($804 million) electrical steel manufacturing plant in Gwangyang, South Jeolla Province, in response to growing demand for the eco-friendly steel in vehicles and home appliances. The steel giant said based on its 40-year expertise in producing electrical steels, the new plant will be producing 300,000 tons of high-effi...

Hyundai Motor Group said Friday it has received 17 awards at this year's International Forum (iF) Design Award competition, proving the "excellence" of the South Korean carmaker's models. Hyundai Motor Co., Hyundai's independent Genesis brand and Hyundai's smaller affiliate Kia Corp. obtained 17 awards in the five categories of product, professional concept, interior architecture, communication ...

Hyundai Mobis Co., South Korea's biggest auto parts maker, said Friday its first-quarter net profit fell 14 percent from a year earlier due to a chip shortage and high manufacturing costs. Net profit for the three months ended in March fell to 520.98 billion won ($419 million) from 603.33 billion won a year earlier, the company said in a statement. "The quarterly net income fell as lack of semi...

The head of South Korea’s largest air carrier said Thursday that the company‘s acquisition of its domestic rival Asiana Airlines will contribute to enhancing the bilateral economic relationship between South Korea and the United States, expressing hope for Washington’s approval of the merger. “We are committed to increasing our activity in the US given the positive environment and we will contin...

The incoming government to be led by President-elect Yoon Suk-yeol is at a crossroads over how its policy support to nurture the domestic chip industry will take shape, as the global chip arms race and state-led support intensifies. On Thursday, presidential transition committee deputy spokesperson Kim Gi-heung told reporters that the committee was briefed about a proposal to establish a state-r...

On Wednesday, Tesla CEO Elon Musk said that the company has secured 100,000 customers registered to their full self-driving program, a subscription program to OTA updates to receive advanced driver assistance features at $199 per month. “When Hyundai Motor Group secures its OTA technology competitiveness and expands it to apply to future models, it can pivot to a subscription-based service for O...

Posco said its eco-friendly steel brand received certification from Norwegian classification society Det Norske Veritas. DNV provides testing, certification and technical advisory services to the energy value chain including renewables, oil and gas and energy management. DNV signed a memorandum of understanding to issue a material type approval on Posco’s Greenable brand of steel materials cert...

Despite record sales, no incentive payments or benefits for local store employees