Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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China outpaces Korea in smaller OLED shipments for 1st time
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BNEF names Hyosung Heavy as top ESS supplier
South Korea’s Hyosung Heavy Industries announced Monday that it has been recognized as a tier-1 supplier of energy storage systems by BNEF or Bloomberg New Energy Finance, a market research firm specializing in the renewable energy sector. The firm has now been included in the top-tier list for two consecutive quarters. “It is meaningful that a Korean firm has won the industrial recognition in the global ESS market that is dominated by Chinese rivals,” said a Hyosung Heavy offi
IndustryApril 29, 2024
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Intel CEO to visit Seoul in June
Intel CEO Pat Gelsinger is planning to visit Korea in early June to attend the company's global conference in Seoul, according to industry sources Monday. The AI Summit event, which is held multiple times a year across countries, typically highlights Intel’s local subsidiaries. It shares knowledge on the intersection between artificial intelligence technology and business models for key players in the industry. Sources predicted the summit will be held on June 5, which will mark the
IndustryApril 29, 2024
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Hanwha Systems breaks ground on satellite center in Jeju
Hanwha Systems, a defense electronics and ICT solutions provider under the Korean conglomerate Hanwha Group, broke ground on a space center in Jeju on Monday. Named the Jeju Hanwha Space Center, the new facility will be capable of developing and manufacturing satellites. Hanwha Systems plans to complete the construction by the end of next year. “The Jeju Hanwha Space Center will create innovative technology and economic value as a birthplace for satellite development and manufacturing,&rdq
IndustryApril 29, 2024
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Korean franchises eye Japan, riding high on K-food trend
Korean food and beverage companies are increasingly entering the Japanese market in pursuit of broader opportunities, largely driven by a saturated market at home and to capitalize on the rising popularity of Korean cuisine in the neighboring country. As of 2023, Japan saw a total of 19 Korean food franchises operating a combined 133 branches nationwide. According to the state-run Korea Agro-Fisheries & Food Trade Corp. (aT), Japan was the fourth most popular destination for Korean franchise
IndustryApril 29, 2024
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
Renowned for its signature spicy thigh patty burgers, Mom’s Touch has established itself as a dominant player in South Korea’s fast-food landscape, with the highest number of branches here, despite its relatively late entry to the market. Celebrating its 20th anniversary this year, the fast-food chain has ventured into the Japanese market with the opening of its inaugural branch in Tokyo's Shibuya district on April 16. Mom’s Touch CEO Kim Dong-jeon revealed that the decisi
CompaniesApril 29, 2024
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[Photo News] Boosting Korea-China ties
SK Group Chairman Chey Tae-won (left), who doubles as chair of the Korea Chamber of Commerce and Industry, and Bi Jinquan, executive vice chairman of the China Center for International Economic Exchanges, a state think tank, meet in Beijing on Monday to discuss ways to expand economic cooperation between the two countries. This meeting was held to check on the implementation status of the agenda items discussed at the fourth edition of the Korea-China High-Level Economic Dialogue, jointly hosted
EconomyApril 29, 2024
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KT explores synergy between AI, media
South Korean telecom carrier KT Corp. said Monday it is expanding its advanced artificial intelligence technology to the group’s entire media business, from content investment and production to marketing and control, to accelerate innovation. "The media business is one of KT's three core businesses, along with communications and AI,” Kim Hoon-bae, executive vice president of the media platform business unit at KT, said in a press conference held earlier in the day in Seou
TechnologyApril 29, 2024
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MBK chief donates $25m to Haverford College
MBK Partners Chairman Michael ByungJu Kim has recently donated $25 million to his undergraduate alma mater, Haverford College, according to the asset manager's announcement on Monday. The $25 million donation, the largest amount in the school's history, was made on April 23. It will fund the establishment of the Institute for Ethical Inquiry & Leadership at the liberal arts college in Haverford, Pennsylvania. “Ethical inquiry is at the core of a Haverford education, and leade
IndustryApril 29, 2024
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Over half a million S. Koreans hold multiple jobs: data
The number of South Koreans working multiple jobs surpassed 500,000 in the first quarter of this year, with older people taking up a large proportion of such workers. A total of 552,000 people here had at least one additional job while working full time in the first quarter, according to Statistics Korea data. This marked a 22.4 percent increase compared to the 451,000 tallied in the same period in 2023. While the overwhelming majority of the working population still only has one job, the perc
EconomyApril 29, 2024
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Beloved singer attracts fans, customers to JungKwanJang stores
Korea Ginseng Corp., a global leader in ginseng production, has significantly enhanced its brand positioning and visibility through its marketing strategies that prominently feature Lim Young-woong. Lim, a trot singer with an avid fan base, has recently been named the ginseng brand's brand model. The marketing campaign kicked off with the release of an advertisement featuring Lim on YouTube on Wednesday, which rapidly gained traction by accumulating over 2 million views within 40 hours. The
IndustryApril 29, 2024
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CJ's Tous Les Jours debuts in Cambodia
CJ Foodville said Monday it has opened two new Tous Les Jours branches in Cambodia, as part of efforts to broaden its foothold in Southeast Asia. The two new branches, which opened Friday in Kam Puchea Kroum and Toul Tom Poung in the country’s capital, Phnom Penh, mark the first locations for CJ Foodville to showcase the Tous Les Jours brand in the country. According to the company, both of the new branches feature a hybrid concept of cafe and bakery elements, boasting a selection of over
CompaniesApril 29, 2024
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[Photo News] Kumho in Europe
Kumho Tire held a brand experience day at the Vairano Circuit in Milan on April 21 to offer European dealers hands-on experiences with the Korean brand, the tire maker said Monday. The company plans to bolster its presence in the European market even further, as it has seen an average of 20 percent annual growth rate in its regional revenue over the last five years. The Korean tire maker has set out the record-high goal of reaching 4.56 trillion won ($3.3 billion) in annual sales this year after
MobilityApril 29, 2024
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SK Innovation's Q1 net loss widens on FX losses
SK Innovation Co., South Korea's leading refiner by sales, said Monday its net losses widened in the first quarter from a year earlier due mainly to foreign-exchange losses. Net losses deepened to 97.62 billion won ($71 million) in the first quarter from 51.95 billion won in the year-ago period, the company said in a statement. "A weak won, which drove up import prices of crude oil and decreased equity gains from SK On, weighed on the quarterly bottom line," a company spokesperson
IndustryApril 29, 2024
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[Herald Interview] Korean banks’ earnings dilemma: More profits, more responsibility
Korean banks may face diminishing profitability due to mounting pressure to take on social responsibilities amid the country's slowing economic growth, a senior official at global credit appraiser Fitch Ratings said. Commercial banks, often criticized for making money from excessively high interest rates, are facing stronger pressure from local authorities to return a portion of profits to the provision of public goods. “From the operating environment side, the pressure to commit to s
IndustryApril 29, 2024
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Seoul shares open higher on large cap gains
South Korean stocks opened higher Monday on large cap gains, tracking advances on Wall Street last week. The benchmark Korea Composite Stock Price Index added 13.6 points, or 0.51 percent, to 2,669.93 in the first 15 minutes of trading. The advance follows Wall Street gains last week. The Dow Jones Industrial Average closed 0.4 percent higher Friday, while the tech-heavy Nasdaq spiked 2.03 percent. In Seoul, most large caps were in positive terrain. Market bellwether Samsung Electronics went up
MarketApril 29, 2024
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KT launches new mobile plans for foreign residents
South Korea's leading telecom carrier, KT Corp., announced Sunday that the company will introduce new 5G mobile plans for foreign national residents starting Monday. “KT decided to introduce new mobile plans as there are not enough plans specifically for foreigners despite the increasing number of foreign residents in the country,” KT said. According to the Ministry of Justice, the number of long-term residents with nationalities other than Korean here grew to 1.9 million as of
IndustryApril 28, 2024
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[KH Explains] No more 'Michael' at Kakao Games
Kakao Games has decided to scrap using English names among its employees, becoming the first Kakao affiliate to backtrack on the IT front-runner’s attempt to make a more bottom-up working environment with open communication. Kakao Games CEO Han Sang-woo, whose English name is Michael, announced the decision in a meeting with employees on April 17, noting that there had been confusion as its workers had to use English names inside the company but went by their Korean names for external comm
TechnologyApril 28, 2024