Most Popular
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Confusion over alleged S. Korean drone intrusion: Who's behind it?
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South Korean military has ‘nothing to confirm’ on North Korea preparing border artillery corps to shoot
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Han Kang’s Nobel Prize opens new horizons for Korean literature
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2 Filipinas who left pilot program cite overwork, excessive surveillance
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K-pop song once recommended by Nobel laureate Han Kang returns to music charts
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Border tensions heighten as North Korea builds up drone incursion claims
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SK heiress weds Chinese American entrepreneur
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Riize speaks out on Seunghan’s return
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Busan film fest ends with lingering controversy over streaming platform presence
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[News Focus] Momentum builds for 3-way summit by end of year
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Seoul shares open higher on Wall Street gains
South Korean shares opened slightly higher Monday, taking a cue from Wall Street gains. The benchmark Korea Composite Stock Price Index (Kospi) added 15.92 points, or 0.61 percent, to 2,612.83 in the first 15 minutes of trading. The rise follows gains on Wall Street last week. The Dow Jones Industrial Average closed 0.97 percent higher Friday (US time), with the tech-heavy Nasdaq advancing 0.33 percent. In Seoul, large caps traded mixed. Market kingpin and tech giant Samsung Electronics advanced
MarketOct. 14, 2024
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Samsung Electronics sheds W90tr in market cap amid foreigners' selloff
Samsung Electronics, South Korea’s largest chipmaker, has seen its market cap shrink by a staggering 90 trillion won ($66.6 billion) since September, largely driven by a sustained selling spree among foreign investors. According to the Korea Exchange on Sunday, foreigners have net sold 10.6 trillion won in Samsung Electronics shares over the past month, marking 23 consecutive days of selling since Sept. 3 -- just two days shy of the record 25-day selling streak set in 2022. During this per
MarketOct. 13, 2024
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[Herald Interview] JM.Wave 'repowers' pollutant vehicles into emissions-free EVs
As global carmakers rush to make the costly transition to carbon-free electric vehicles, Park Jeong-min, CEO of the Seoul-based startup JM.Wave, asks, “What about the remaining internal combustion engine cars?” The 7-year-old company holds the "repowering technology" that converts vehicles with internal combustion engines into EVs. It is also the first to get regulatory sandbox approval from the Ministry of Land, Infrastructure and Transport after passing a safety verificat
TechnologyOct. 13, 2024
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LG Innotek expands global talent hunt
LG Innotek Chief Executive Officer Moon Hyuk-soo is stepping up efforts to recruit top talent from around the globe with the goal of boosting the company's competitive edge in the global market, where it makes the vast majority of its sales, the company said Sunday. Moon recently traveled to the US and hosted the company's main hiring event, "Inno Connect," in San Francisco, where he and Chief Human Resources Officer Kim Heung-sik and Chief Technology Officer Roh Sung-won pre
IndustryOct. 13, 2024
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SK heiress weds Chinese American entrepreneur
SK Chairman Chey Tae-won's second daughter Chey Min-jung, 33, tied the knot with Chinese American entrepreneur Kevin Huang in a private wedding in Seoul, where some 500 guests, including the country's top business leaders, gathered for the celebration. Amid their ongoing divorce suit, Chey Tae-won and his ex-wife Roh Soh-yeong both attended the wedding, facing each other for the first time since the latest court ruling in May. Chey Min-jung and Huang reportedly met as neighbors in Wash
IndustryOct. 13, 2024
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Han Kang's Nobel Prize boosts book market
South Korean writer Han Kang's books are enjoying soaring popularity across various sales channels, from bookstores and e-commerce platforms to department stores, following her Nobel Prize in literature win last week. Kyobo Book Center reported Friday that around 103,000 copies of Han’s works had sold through its online and offline stores just one day after the Nobel announcement. Competitors Yes24 and Aladin sold more than 132,000 and 70,000 of her books, respectively, over the sam
IndustryOct. 13, 2024
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Chung marks 4 years at helm of Hyundai Motor
Hyundai Motor Group is celebrating four years of Chung Euisun’s leadership as executive chair on Monday. During this period, the automaker has experienced rapid growth, expanded into new markets and positioned itself as a major player in electric vehicles and future technologies. But new challenges lie ahead, particularly in software, robotics and urban air mobility. When Chung officially took over in 2020, Hyundai and its sister brand, Kia, were solid players but not exactly leaders in th
MobilityOct. 13, 2024
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Posco Future M's NCA cathode plant in Pohang goes online
Posco Future M has started operations at its new plant in Pohang, North Gyeongsang Province, dedicated to producing nickel-cobalt-aluminum cathode materials for electric vehicle batteries. The plant, which shipped its first batch over the weekend, will help meet the growing demand for high-performance EV battery components. NCA cathode materials, with 88 percent nickel content, are key for making EV batteries more efficient. In January 2023, Posco Future M secured a 40 trillion won ($29.6 bill
MobilityOct. 13, 2024
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Samsung SDI seeks out top tech talent in Europe
Samsung SDI invited over 60 students and industry experts from Europe’s top institutions at its tech and career forum in London, aiming to secure global talent to strengthen the firm's technological competitiveness, the company said Sunday. The Tech & Career Forum, held on Saturday local time, attracted master’s and Ph.D. students, as well as industry experts, from prestigious universities such as Cambridge, Oxford, the Technical University of Munich and the Swiss Federal In
TechnologyOct. 13, 2024
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Aston Martin seeks bigger footing in Korean luxury car market
INCHEON -- Aston Martin, the ultraluxury British sports car brand known for its affinity with the James Bond franchise, plans to expand its presence in South Korea's booming high-end car market with a more proactive approach to marketing. “This year marks the 111th anniversary of Aston Martin, but we are also celebrating another important milestone -- 10 years since our entry into Korea,” said Marco Mattiacci, chief brand officer and commercial officer of Aston Martin, during a
MobilityOct. 11, 2024
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Korea Zinc goes all in to fend off takeover
The current management of Korea Zinc on Friday decided to up the ante to maintain control over the world’s largest zinc smelter, lifting the tender offer price to 890,000 won ($660) per share, higher than 830,000 won presented by the coalition of MBK Partners and Young Poong. While the current management of Korea Zinc, represented by Chairman Choi Yun-beom, initially targeted securing an additional 15.5 percent of the total issued shares, the target has been raised to 17.5 percent. Adding
IndustryOct. 11, 2024
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Hanwha zeroes in on arms exports to North America
Hanwha Aerospace is gearing up to showcase its latest land weapons systems at the US Army’s Annual Meeting & Exposition, known as AUSA, in Washington, as the Korean defense firm looks to score exports to the North American defense sector, the company said Friday. Hanwha Aerospace plans to display its wheeled self-propelled howitzer, uncrewed transport robotic vehicle and modular charge system at the upcoming arms trade show slated to take place from Monday to Wednesday. In particular,
CompaniesOct. 11, 2024
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[Photo News] Dive into K-style
Korean Air said Friday it has launched the "Dive into K-style" program to help its new foreign national crew members enhance their understanding of Korean culture and the company. New employees from Japan and Southeast Asia joined the program in August and October, respectively, with another session set to be held for Chinese employees in December. After a four-year hiatus, the nation's flag carrier resumed recruitment of foreign national crew members this year. A total of 85 ne
IndustryOct. 11, 2024
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Merck opens new chip materials R&D center in Korea
German technology firm Merck said Thursday it has opened its latest spin-on-dielectric (SOD) application center in Anseong, Gyeonggi Province in a bid to respond quickly to its customer needs here. The company held the opening ceremony of the latest facility at the production site that same day. Attendees include senior executives of Merck and its key clients, Samsung Electronics and SK hynix. The new facility, the second of its kind in Asia, is equipped with advanced technology for measuring an
IndustryOct. 11, 2024
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BOK cuts key rate by quarter point to 3.25%
South Korea's central bank lowered the policy rate by 0.25 percentage point on Friday, signaling the end of an era of monetary tightening that had extended over three years. The Bank of Korea’s monetary policy board slashed the base rate by 25 basis points, bringing it down to 3.25 percent. Five of the other six monetary policy board members, not including BOK Gov. Rhee Chang-yong, agreed to the rate cut, while the remaining member suggested maintaining the rate at the 3.5 percent lev
EconomyOct. 11, 2024
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Seoul shares open higher ahead of BOK rate decision
South Korean stocks opened higher Friday as the country's central bank was set to hold a rate-setting meeting later in the day. The benchmark Korea Composite Stock Price Index rose 0.68 percent, or 17.55 points, to 2,616.71 in the first 15 minutes of trading. Investors' eyes are on the results of the Bank of Korea's monetary policy meeting to be held later in the day, where it is widely expected to start its rate-cutting cycle. Overnight, Wall Street lost ground amid mixed bets on
MarketOct. 11, 2024
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S. Korea, Laos vow to combat deforestation together
South Korea's forest agency announced Thursday that it has established a cooperative organization with Laos to enhance joint efforts in combating deforestation and promoting sustainable forest management. The organization, the REDD+ Cooperation Center, focuses on reducing emissions from deforestation and forest degradation. It is based on the REDD+ Act, a framework adopted in February under the UN for implementing, monitoring and managing programs aimed at conserving forests and reducing ca
IndustryOct. 10, 2024
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Lotte chief vows sustainable cacao sourcing in Ghana
Lotte Group Chairman Shin Dong-bin, alongside executives from the group's Korean and Japanese subsidiaries, visited Ghana to support the sustainable sourcing of cacao, a key ingredient in their signature chocolate product. As part of the Sustainable Cocoa Bean Project, a joint initiative by Lotte's Korean and Japanese branches, the visit included Lee Young-gu, head of Lotte's food division; Lee Chang-yeop, CEO of Lotte Wellfood; and Genichi Tamatsuka, CEO of Lotte Holdings. Lotte
CompaniesOct. 10, 2024
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[Herald Interview] NineWatt reveals the simple path to smarter urban energy use
How can cities contribute to achieving carbon neutrality? According to Kim Young-rok, CEO of NineWatt, it is simpler than you might think. “When people think about energy efficiency, they often think of expensive, high-tech solutions,” Kim said. “But before you jump into cutting-edge technologies, the key is to optimize what’s already there -- the buildings you visit every day. The real question is: how do we do that efficiently?” Founded in 2019, NineWatt is a Kore
CompaniesOct. 10, 2024
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Hyundai India to launch record $3.3 billion IPO on Oct. 22
Hyundai Motor India is about to make history with a massive $3.3 billion initial public offering set for Oct. 22. This will be the largest IPO in Indian stock market history, and Hyundai plans to use the funds to ramp up production in the country and accelerate its push into the electric vehicle market. India’s stock market regulator, the Securities and Exchange Board of India, gave the green light for Hyundai’s offering Wednesday. The company will sell 17.5 percent of its Indian sub
MobilityOct. 10, 2024