Most Popular
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Can Korea break away from apartment fixation?
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BTS members dominate charts, award shows despite military service
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Assembly clash looms as opposition pushes vote on W4tr budget cut
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[Reporter’s Notebook] Inside Korea’s diplomatic failure at Japan’s memorial ceremony
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Hyundai-Kia may face 19% profit loss from US tariffs: report
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Does cross atop Christmas tree at Seoul Plaza reflect religious bias?
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[Herald Interview] Director of 'Jeongnyeon: The Star is Born' discusses bringing together viewers across ages, genders
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Who helped bring star-studded K-drama series 'The Trunk' to life?
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(G)I-dle confirms full-unit contract renewal at MMA
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[AtoZ into Korean mind] ‘Tell me I fit in'
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Prosecutors seek 5-year prison term for Samsung chief in merger retrial
Prosecutors requested five years in prison and a fine of 500 million won ($356,000) for Samsung Electronics Chairman Lee Jae-yong on Monday, in the final hearing of a retrial over suspected stock manipulation related to a high-profile 2015 merger case. The prosecution had appealed in February immediately after a lower court acquitted Lee of all 19 charges it had filed. In the appellate court on Monday, the prosecution kept to their original claims, insisting the chief of the country's large
IndustryNov. 25, 2024
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Mercedes-Benz donates W500m for child protection center in Incheon
Mercedes-Benz’s Corporate Social Responsibility Committee said Monday that it has donated 500 million won ($358,000) to establish a specialized child protection center, aimed at protecting abused children and preventing further abuse. The funds, raised through the 11th Mercedes-Benz Give ’n Race charity event, will be fully allocated to the Incheon Child Protection Center to be built in Seo-gu, Incheon. A donation ceremony was held at Incheon Metropolitan City Hall on Monday, attende
MobilityNov. 25, 2024
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BAT debuts synthetic nicotine e-cigarettes in Korea
Global tobacco giant British American Tobacco on Monday officially launched its synthetic nicotine-based liquid e-cigarette, Nomad Sync 5000, in South Korea, the first market in the world to release the product. The Nomad Sync 5000, available in sweet “Purple” and refreshing “Cold” flavors, offers up to 5,000 puffs with a liquid capacity of 10 milliliters and a nicotine concentration of 0.9 percent. Priced at around 17,000 won ($12), the product is now available at vape s
CompaniesNov. 25, 2024
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Seoul shares jump over 1.3% on tech gains, Trump's pick for treasury post
South Korean stocks rose more than 1.3 percent Monday as investors hunted for big-cap tech bargains amid hopes for the new Donald Trump administration's softer approach to tariffs. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 33.1 points, or 1.32 percent, to close at 2,534.34. It marked the highest level since Nov. 8, when the index closed at 2,561.15. Trade volume was heavy at 535.26 million shares worth 12.54 trillion won ($8.95 bill
MarketNov. 25, 2024
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Why S. Korean refiners are reluctant to import US oil despite Trump’s energy push
As US President-elect Donald Trump assembles his energy team with the aim of expanding oil and gas production in his second term, there may be pressure on allies to import US oil. However, South Korean oil companies, heavily reliant on Middle Eastern suppliers, might hesitate to switch to US crude, industry sources said Monday. Over the weekend, Trump tapped Chris Wright, CEO of Liberty Energy, a natural gas fracking company, as the secretary of energy, and North Dakota Gov. Doug Burgum to head
IndustryNov. 25, 2024
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[Photo News] Korea-Japan business ties
SK Group Chairman Chey Tae-won (center right, front row), who doubles as chairman of the Korea Chamber of Commerce and Industry; Japan Chamber of Commerce and Industry Chairman Ken Kobayashi (on Chey's right) and other business leaders from both countries pose for a photo during their annual meeting held in Osaka on Monday. The two chambers agreed to strengthen ties in the areas of energy, supply chains and advanced technologies at Monday's meeting. In his opening remarks, Chey stresse
IndustryNov. 25, 2024
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Hyundai Capital sets up Australian subsidiary
Hyundai Capital Services, the financial arm of Hyundai Motor Group, announced Monday the official launch of its Australian subsidiary, Hyundai Finance Australia, marking its 12th overseas expansion in automotive financing. The new entity will provide tailored financial solutions for Hyundai Motor customers in Australia, offering a wide range of products such as installment plans for new and certified pre-owned vehicles. Among its offerings is the flagship Guaranteed Future Value program, which p
MobilityNov. 25, 2024
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Korean banks head to CES amid AI push
South Korean banks will head to Las Vegas next January for CES 2025, with some set to showcase their latest artificial intelligence-driven financial technologies at the world’s largest consumer electronics event. Among the participants will be Shinhan Bank, returning for a third consecutive year to host its own booth at the global expo. This year, the bank will highlight two of its newest innovations -- "AI Investment Mate" and "AI Branch." "AI Investment Mate,&quo
EconomyNov. 25, 2024
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[Exclusive] Hyundai Mobis eyes closer ties with BYD
Hyundai Mobis, an auto parts manufacturer under Hyundai Motor Group, is looking to expand relations with Chinese electric vehicle giant BYD in an apparent move to diversify its profit sources outside of Hyundai and Kia. According to industry sources Monday, a group of Hyundai Mobis officials visited BYD’s headquarters in Shenzhen last month. Currently, Hyundai Mobis supplies steering parts to BYD, the No. 1 EV maker in China. During the visit, sources say, the two companies discussed ways
MobilityNov. 25, 2024
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Posco International completes first gas processing plant in Australia
Posco International, the trading and energy arm of Posco Group, announced Monday that its local subsidiary has completed the first gas processing plant in Queensland, Australia. In April 2022, Posco International acquired Senex Energy together with Hancock Prospecting. It aims to triple Senex's annual natural gas production from 20 petajoules to 60 petajoules, enough to produce approximately 1.2 million metric tons of liquefied natural gas. Senex Energy has initiated commissioning tests for
IndustryNov. 25, 2024
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[Photo News] Kumho Tire backs Hawks on and off court
Kumho Tire’s European branch president Cho Nam-hwa (right) and Hawks Chief Commercial Officer Andrew Saltzman hold a jersey to mark Kumho’s new sponsorship of the Atlanta Hawks. This partnership gives Kumho prominent exposure at the team’s State Farm Arena. With roots in Georgia, where it runs a factory and logistics hubs, Kumho also plans to support local communities with volunteer events and youth outreach programs. Fans can expect exciting extras, too, like autograph session
MobilityNov. 25, 2024
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Samsung SDI builds EV momentum with Audi, Hyundai deals
Samsung SDI is charging ahead to claim a bigger slice of the electric vehicle battery market, bolstered by new supply agreements, upcoming product launches and accelerating demand for EVs, particularly in Europe. One of the company’s latest moves is expanding its supply with Audi. Samsung SDI recently began supplying batteries for two of Audi’s EV models, the E-Tron 50 Quattro and E-Tron Sportback 50 Quattro, which previously used batteries from LG Energy Solution. Of the 14 Audi EV
MobilityNov. 25, 2024
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[Photo News] Shinhan-Apollo partnership
Shinhan Life, the life insurance arm of Shinhan Financial Group, has partnered with US-based asset management firm Apollo Global Management. The South Korean insurer announced Monday that the two firms signed a memorandum of understanding to enhance Shinhan Life's asset management capabilities and secure diverse investment opportunities using Apollo's specialized investment platform and advisory services while bolstering Apollo's presence in Korea. The partnership will include a
IndustryNov. 25, 2024
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[Contribution] Intellectual property: A safety belt for Korean exporters
By Kim Wan-ki Drivers instinctively reach for their seat belts, whether they’re off to work in the morning or heading out for a weekend picnic. According to a 2023 traffic culture index survey, seat belt usage in South Korea reached approximately 85 percent, which reflects the belief that seat belts are an essential safety device protecting drivers from potential accidents. Then, what is the equivalent of a seat belt for export enterprises? How can they safeguard their innovative technolo
IndustryNov. 25, 2024
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S. Korean business presence in China fading amid local competition, weakened sales
The business presence of South Korean companies in China has withered palpably in recent years amid toughened competition from local rivals and sluggish domestic demand in the neighboring country, industry watchers said Monday. In September, LG Display Co. sold its liquid-crystal display (LCD) factory in China's Guangzhou to a local company for around 2 trillion won ($1.43 billion), effectively ending China operations of South Korean LCD manufacturers following a similar move by industry
EconomyNov. 25, 2024
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S. Korean, Japanese biz chambers agree to strengthen energy, supply chain ties
The Korea Chamber of Commerce and Industry, a major South Korean business lobby, held a meeting with its Japanese counterpart on Monday and agreed to strengthen ties in areas of energy, supply chains, and advanced technologies. According to the KCCI, the 13th meeting of the business chamber leaderships of South Korea and Japan was held in Osaka in collaboration with the Japan Chamber of Commerce and Industry. Their last meeting took place in Busan, South Korea, in June 2023. The South Korean sid
EconomyNov. 25, 2024
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Govt. hosts roundtable with S. Korean firms in Vietnam on US trade policy
The trade ministry hosted a roundtable with South Korean businesses operating in Vietnam on Monday to discuss strategies for addressing potential changes in US trade policies under the incoming administration. The meeting, held in Seoul, came amid potential shifts under the second Donald Trump administration, including the implementation of blanket tariffs on all imports, which are expected to impact South Korean firms operating overseas as well, according to the Ministry of Trade, Industry and
EconomyNov. 25, 2024
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Hyundai chief hints at potential collaboration with Toyota on hydrogen mobility
Hyundai Motor Group's chief has mentioned the possibility of collaboration with Japan's Toyota Motor Corp. in areas involving hydrogen-powered mobility. Euisun Chung, executive chair of Hyundai Motor, said, "(Hyundai and Toyota) are discussing hydrogen and trying to collaborate well together." Chung made the remark Sunday while meeting with reporters at the 2024 World Rally Championship (WRC) at Toyota Stadium in Aichi Prefecture, Japan. The remarks followed Chung's meet
IndustryNov. 25, 2024
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Seoul shares open higher on tech gains
South Korean stocks opened higher Monday, led by gains from top-cap Samsung Electronics and other major tech shares. The benchmark Kospi added 19.51 points, or 0.78 percent, to 2,520.75 in the first 15 minutes of trading. The increase was driven by institutional buying, which offset selling by foreigners and retail investors. On Friday, the Kospi rose above 2,500 points for the first time in 11 sessions following a sharp drop the previous week amid concerns over expected policy changes by the
MarketNov. 25, 2024
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[From the Scene] BYD zeroes in on continuing exponential growth
SHENZHEN/CHONGQING, China -- The license plate on the Denza Z9, a high-performance electric vehicle produced by Chinese EV maker BYD, read “10,000,000th” as a group of Korean journalists entered the BYD’s final assembly factory in Shenzhen on Tuesday. BYD celebrated its 30th anniversary with the completion of its 10-millionth car at the manufacturing plant the previous day. The 10 assembly lines at the site were packed with BYD vehicles. A BYD official noted that the day’
MobilityNov. 25, 2024