Most Popular
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AI textbook bubble could burst, expert warns
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Samsung tightens its belt amid crisis winds
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Food tycoon Paik Jong-won's Theborn Korea pushes toward IPO
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North Korean trash balloons cross border day after Seoul military parade
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Prosecution closes 'Dior bag' case amid opposition uproar
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Court confirms sentence for rapper who attempted to evade national service
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N. Korea may revoke 1991 Inter-Korean Basic Agreement in parliament: Seoul
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[Kim Seong-kon] Understanding uniquely American things
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Ministry confirms irregularities in national soccer coach hiring
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Yoon, Ishiba discuss cooperation on N. Korea in 1st phone talks
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Celltrion eyes new production plant, aims for W5tr in sales
Celltrion Group Founder and Chairman Seo Jung-jin has announced plans to expand the company's pharmaceutical production facilities either in South Korea or abroad as part of its strategy to enter the contract development and manufacturing organization sector. The biosimilar giant also aims to commercialize a total of six new drug pipelines by the end of 2029. "Expanding manufacturing facilities is crucial for securing production capacity and ensuring a sustainable future," Seo rep
IndustrySept. 9, 2024
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[2024 IFA] Samsung eyes bigger presence in ad-supported streaming market
BERLIN -- As TVs evolve into platforms offering limitless content-based enjoyment, Samsung Electronics has revealed its ambition to lead the free ad-supported television market, or FAST, by providing distinctive services and diverse content. “In line with the AI era, we will actively explore and implement measures to become the optimal platform by advancing and enhancing basic AI usability,” Kim Yong-su, head of the global service business team of the visual display division at Samsu
IndustrySept. 9, 2024
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LS Cable CEO vows to hit W10tr sales by 2030
LS Cable & System CEO Koo Bon-kyu has pledged to achieve 10 trillion won ($7.5 billion) in sales by 2030 by accelerating business expansion abroad. “Joining hands with (our subsidiary) LS Eco Energy, we will set up our global production bases in Europe, Asia and North America,” Koo said during a press conference in Yeouido, Seoul, Thursday. “With LS Marine Solution, the company aims to strengthen its business portfolio for cable supply, installation and maintenance using t
IndustrySept. 9, 2024
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HD Hyundai to showcase uncrewed vessel at REAIM conference
HD Hyundai said Monday that it is participating in the REAIM Summit, a global military conference, held at the Lotte Hotel in Jung-gu, central Seoul, this week. REAIM Summit 2024 is an international multilateral event where 90 countries are presenting their uncrewed vessel technologies and discussing responsible military use of artificial intelligence. HD Hyundai will showcase a model of Tenebris, an uncrewed surface vehicle co-developed with US-based big data analytics firm Palantir Technologie
IndustrySept. 9, 2024
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SK Ecoplant secures $98m by offloading stake in Ascend Elements
South Korean energy and environmental solutions provider SK Ecoplant said Monday that it has secured over $98 million by selling its stake in the American battery recycling firm Ascend Elements, as part of its initiative to restructure its recycling business portfolio. SK Ecoplant had invested over $60.8 million in Ascend Elements since 2022. It sold its entire stake of approximately 9.2 million shares to SKS PE, a Seoul-based private equity firm, according to the company’s regulatory fili
CompaniesSept. 9, 2024
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APR’s Medicube, Aprilskin brands enter UK market
Korean beauty brands Medicube and Aprilskin have officially entered the UK market, South Korean beauty tech company APR announced Monday. The two brands are now available through London-based K-beauty retailer Pureseoul, which operates both online and in physical stores in prime shopping districts such as those of Soho, Westfield and Oxford. Pureseoul, a leading distributor of over 60 Korean beauty brands, is seen as a key partner in helping Medicube and Aprilskin gain a foothold in the UK marke
CompaniesSept. 9, 2024
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[Photo News] Hyundai sweeps podium at acropolis rally
Hyundai Motor secured a triple podium finish at the Acropolis Rally Greece that took place from Thursday to Sunday, in the 10th round of the 2024 World Rally Championship. Thierry Neuville took the top spot, with teammates Dani Sordo and Ott Tanak close behind. This victory, Hyundai’s fourth of the season, came on one of the toughest WRC courses, known for its punishing unpaved roads and high temperatures. Hyundai’s i20 N Rally1 Hybrid cars outperformed rivals in durability and rel
MobilitySept. 9, 2024
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Govt. to issue legislative notice for new EV safety regulations
The transport ministry said Monday it plans to issue a legislative notice for new government regulations regarding electric vehicle safety announced last week in response to public concerns over EV fires. The ministry said the legislative notice for amendments to the enforcement regulations of the Automobile Management Act will be issued for 40 days, from Tuesday to Oct. 21. Last week, the government said its EV battery certification system that was scheduled to go into effect next February will
MobilitySept. 9, 2024
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FSC chief calls on mutual savings banks to swiftly address risks on PF loans
The chief of the financial regulator urged mutual savings banks Monday to recommit themselves to their basic duty of serving their communities, also calling on them to quickly address risks on loans extended to real estate projects. Kim Byoung-hwan, chair of the Financial Services Commission, made the call in a meeting with top officials from five major mutual savings banks and credit cooperatives, including Nonghyup. "The mutual banking sector has long contributed to the balanced developme
EconomySept. 9, 2024
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Seoul shares open lower after US jobs data
Seoul shares opened lower Monday after weaker US employment data, amid concerns that the Federal Reserve has waited too long to cut rates as recession risks grow. The benchmark Korea Composite Stock Price Index fell 1.3 percent, or 33.89 points, to 2,510.39 in the first 15 minutes of trading. Weaker-than-expected employment data in August weighed on investor sentiment ahead of the Fed's rate decision later this month, analysts said. They noted that investors will focus on next week's i
MarketSept. 9, 2024
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[KH Explains] NCSoft pins hopes on new titles to stop bleeding
NCSoft is seeking answers to rebound with new titles and managerial overhauling efforts amid its falling stock price, as the first-generation South Korean gaming powerhouse hopes to get back to the throne. Experts forecast that the success of new games NC plans to roll out and reorganization of human resources will determine whether the game developer can turn things around in the short term. Plummeting shares NC’s stock has been practically in a free fall since reaching its peak at 1.
CompaniesSept. 8, 2024
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Lotte chief eyes W1tr in Pepero sales
Lotte Group Chairman Shin Dong-bin has chosen Pepero as the flagship product for a new strategic initiative in partnership with Lotte food affiliates from Korea and Japan, the nation's sixth-largest conglomerate announced Sunday. The initiative aims to elevate the chocolate stick snack into a global megabrand with annual sales of 1 trillion won ($748 million). During Shin's recent business trip to Europe, the chairman visited Lotte's global food production facilities in Belgium an
IndustrySept. 8, 2024
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SC Bank Korea names new chief
Standard Chartered Bank Korea has appointed Lee Kwang-hee, managing director and executive vice president, as its new CEO, the global lender said Friday. Lee, recognized as an expert in corporate banking, will succeed the outgoing CEO, Park Jong-bok. "A detailed evaluation was conducted on the nominees' leadership in the financial sector, willingness to share the bank’s vision, efforts for boosting public interest and sound business administration," the bank's executive
IndustrySept. 8, 2024
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Hyundai Casper EV to make Japan debut early next year
Hyundai Motor plans to bring its Casper Electric mini SUV to Europe later this year and Japan in early 2025, following robust domestic sales. The company reported Sunday that it sold 28,784 units of the Casper -- both gasoline and electric versions -- in the Korean market from January to August this year, marking a 1.4 percent increase from the same period last year. Total Casper sales surged in August, with 5,031 units sold -- making it the first month in 2024 to break the 5,000 mark. The boost
MobilitySept. 8, 2024
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Samsung SDI to showcase advanced energy solutions at RE+ 2024
Samsung SDI will present its latest energy storage systems at RE+ 2024, the largest clean energy expo in North America, held in Anaheim, California, for four days starting Monday. The company’s showcase will revolve around the theme "A Sustainable Future Driven by PRiMX." PRiMX is a branding term for Samsung SDI’s advanced battery technology portfolio. Leading the lineup is the Samsung Battery Box 1.5, the company's next-generation ESS battery system ready for US lau
IndustrySept. 8, 2024
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SK chief convenes CEOs to inspect global businesses
SK Group Chairman Chey Tae-won stressed the need for a sharp focus and prompt response to evolving AI, semiconductors and energy solutions sectors during an executives' management review meeting held on Saturday, the Korean conglomerate said Sunday. “Enhancing the competitiveness of our core businesses in AI and semiconductors while adapting to the evolving business environment is a formidable challenge, but one we must confront,” said Chey at the SK Seorin Building headquarte
IndustrySept. 8, 2024
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[2024 IFA] Samsung’s AI push has long way to go: CEO
BERLIN -- Samsung Electronics Vice Chairman and co-CEO Han Jong-hee said Saturday that the tech giant’s recent push for artificial intelligence-powered home appliances still has a long way to go in fulfilling the increasingly sophisticated demand from consumers “Our products are not keeping up with very high consumer expectations. … If we consider consumer expectations to be at 100, our product currently stands at around 30,” Han said during a press conference held on th
TechnologySept. 8, 2024
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[Hello India] India makes fresh overture to lure Korean financial firms
India’s financial regulators boasted their fast-growing economy and young workforce at a rare investment forum held in Seoul on Friday, making a fresh overture to lure Korean investments. The event, co-hosted by Korea’s Financial Supervisory Service and the Embassy of India here, featured key officials from Indian financial regulatory bodies and drew around 140 executives from Korean financial institutions. “India is emerging as a global production hub with remarkable growth i
EconomySept. 8, 2024
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[2024 IFA] LG AI Home envisions zero-labor home
BERLIN -- LG Electronics has announced a brand new era for the company by introducing its artificial intelligence home hub, featuring what it calls "affectionate intelligence," at this year’s IFA trade show that kicked off Friday in Berlin. “We are thrilled to announce the launch of LG AI Home, a smart living solution that utilizes generative AI to seamlessly communicate and connect with customers,” Lyu Jae-cheol, the tech giant's home appliance chief, said Thurs
TechnologySept. 8, 2024
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[2024 IFA] Samsung CEO weighs in with AI connectivity to take on rivals at IFA
BERLIN -- Samsung Electronics Vice Chairman and co-CEO Han Jong-hee said the Korean tech giant is looking to artificial intelligence connectivity to take on its rivals, as this year’s IFA in Berlin, one of the world’s largest consumer appliance trade shows, kicked off Thursday. “Who can provide consumers with a richer experience of connecting products” is the key message to convey, Han told The Korea Herald on Thursday at Samsung Electronics pavilion, upon his visit to th
TechnologySept. 6, 2024