Most Popular
-
1
Seoul unveils plan to move 68km of railways underground
-
2
N. Korea's support puts Putin in its debt: experts
-
3
Critics slam this year's parliamentary audit as 'worst ever'
-
4
What would N. Korean troops mean for the war with Ukraine?
-
5
Yoon signals flexibility in no-weapons policy for Ukraine
-
6
Long-term foreign residents in S. Korea at all-time high
-
7
[KH Explains] Tesla’s vague robotaxi vision may let Hyundai-Waymo narrow gap
-
8
[LLG] Repairing toys seemed like simple task. It turned out to be deeply emotional
-
9
SK hynix reports earnings surprise in Q3 on AI chip boom
-
10
'No tattoo' policies at hotels spark dispute
-
[Contribution] Future-oriented partnership between Korea, Singapore
By Lee Seong-woo, Vice president of Korea Chamber of Commerce and Industry Living up to its reputation as a “small but mighty” country, Singapore has been an economic hub of Asia and is home to the Asian headquarters of many global companies. Its business-friendly investment environment, talented workforce and strategic location have made it a center of the Asian economy. The government of Singapore offers nondiscriminatory investment incentives to both local and foreign companies,
Oct. 24, 2024
-
SK Innovation replaces heads of key subsidiaries
SK Innovation said Thursday that three of its key subsidiaries -- SK Energy, SK Geocentric and SK IE Technology -- have appointed new company heads with technological expertise to tackle business uncertainties and strengthen core competitiveness. The announcement comes eight days before the mega-merger of SK Innovation and SK E&S, two major energy affiliates of SK Group, which will create Korea’s largest energy giant with combined assets of 100 trillion won ($723.6 billion). The newly
Oct. 24, 2024
-
Samsung mobile chief upbeat on Galaxy S24 sales
Samsung Electronics's mobile business chief Roh Tae-moon has pinned high hopes on the latest flagship Galaxy S24 series to drive up the company's smartphone business this year overall. Speaking to the employees in a regular town hall meeting on Wednesday, Roh reiterated the company's goal of creating an "ecosystem of Galaxy AI" to introduce the artificial intelligence model to all of its mobile devices, according to industry sources. "Galaxy has led the way into the
Oct. 24, 2024
-
Hyundai Glovis adopts fire control system for safer EV shipping
Hyundai Glovis, Hyundai Motor Group's logistics and distribution subsidiary, said Thursday that it has equipped its automobile carriers with a fire suppression system to prevent potential incidents while delivering electric vehicles. The EV-Drill Lance system is designed to quench electric vehicle fires. High-pressure water flowing from a fire hydrant spins turbines, enabling the drill to pierce to the bottom of a car. Water can then flow into the battery pack and fully extinguish the fire
Oct. 24, 2024
-
Why ex-Elliott activist fund is building stake in SK
London-based hedge fund Palliser Capital was recently found to have held a stake of more than 1 percent in SK Square, the investment arm of SK Group, for years, triggering speculation about another round of activist campaigns against the nation’s second-largest conglomerate. According to industry sources on Thursday, the fund -- founded by Chief Investment Officer James Smith, who previously worked at Elliott Investment Management -- held several meetings with SK Square executives recently
Oct. 24, 2024
-
Doosan Enerbility to support Kazakhstan's energy modernization
Doosan Enerbility has signed an agreement with Kazakhstan’s Ministry of Energy to help modernize the country’s power infrastructure, the Korean nuclear power plant builder announced Thursday. The memorandum of understanding was formalized during a Wednesday visit by Kazakhstan’s Energy Minister Almassadam Satkaliyev to Doosan’s headquarters in Changwon, South Gyeongsang Province. Accompanying the minister were senior officials, including the heads of Kazakhstan’s nu
Oct. 24, 2024
-
Hyundai Rotem to develop world's 1st hydrogen fuel-based tank: sources
Hyundai Rotem Co., a South Korean defense solutions company, has been working on developing the world's first hydrogen fuel-based tank for the military, industry sources said Wednesday. In collaboration with the Agency for Defense Development and other defense technology research institutes, Hyundai Rotem is designing a next-generation tank model as part of its plans to upgrade the K2 main battle tank, according to the sources. This new tank, which is planned for production after 2040, wi
Oct. 23, 2024
-
Debt-ridden Kepco raises electric bills for businesses
The state-run Korea Electric Power Corporation decided Wednesday to raise industrial electricity rates by an average of 9.7 percent from Thursday, prompting immediate complaints among local businesses already reeling from rising costs and unfavorable foreign exchange rates. "The government and Kepco had no choice but to comprehensively consider the ongoing difficulties faced by the public and small business owners, as well as an economic situation in which consumer sentiment has not yet rec
Oct. 23, 2024
-
SK’s flu vaccine spreading across Asia
South Korean pharmaceutical company SK Bioscience said Wednesday that its SKYCellflu has become the first influenza vaccine from Korea approved by the Food and Drug Agency of Indonesia. Indonesia’s pharmaceutical market has been growing significantly. According to market tracker Insights10, the country’s flu vaccine market is expected to increase from $38.5 million in 2022 to $69.1 million by 2030. Due to its geography spanning both the Northern and Southern hemispheres, Indonesia re
Oct. 23, 2024
-
Gochujang heats up US as Americans seek out ‘swicy’ food
As the new trend of spicy-sweet -- "swicy" -- flavors has been gaining ground in the US restaurant scene, Korean gochujang (red chile pepper paste) is gaining popularity. According to a Tuesday report from CNBC, more Americans are seeking bold flavors, and gochujang has become one of the key ingredients fueling this movement. “Common menu items have paired fruity flavors with chili powder or used sauces like hot honey and gochujang, a red chile (pepper) paste that’s a pop
Oct. 23, 2024
-
[Photo News] Hana opens 99th nursery
Hana Financial Group announced Wednesday that it has opened the 99th nursery of its "100 Nursery Building Project" in Dongdaemun, central Seoul. The latest facility, "Hoegi Hana Nursery," is a public child care center serving multicultural families, offering space for up to 60 infants and children under five. The five-story building includes playrooms and an outdoor playground. Since launching the initiative in 2018, Hana Financial Group has partnered with regional government
Oct. 23, 2024
-
LG Electronics unveils 2030 vision to boost corporate value
LG Electronics on Tuesday announced a mid-to-long-term plan to boost the company’s corporate value, with a goal to achieve sales of 100 trillion won ($72.6 billion) by 2030. The new announcement comes about two months after it said it would participate in the government’s Value-up Program, being the first to do so among the country’s top 10 conglomerates. In a regulatory filing, the home appliance giant reiterated its Triple 7 goal, under which the company aims to see a 7 perce
Oct. 22, 2024
-
Korean startups win at sustainability competition in Indonesia
The organizers of the 5th Korea-ASEAN Business Model Competition for SDGs, held in Indonesia, said Tuesday that the event attracted a wide range of startups and small and medium-sized enterprises from South Korea and ASEAN countries. This year's contest aimed to foster innovative solutions to achieve the United Nations Sustainable Development Goals, with two Korean companies securing first and second place. The plant-based food startup Millennial Flavor Town won $6,000 for its eco-friendly
Oct. 22, 2024
-
SKT launches web version of AI assistant A.
SK Telecom, South Korea’s largest wireless carrier by membership, launched the web version of its multi-agent large language model service A. on Tuesday. A. was first introduced as a mobile application, as a personal AI assistant supporting users in managing their daily routines with essential functions including calendar, tasks and routine checkers. Now the AI service is accessible on various PC browsers, such as Chrome and Safari on PCs and tablet PCS, allowing users to use the service o
Oct. 22, 2024
-
Hyundai Card chief's AI bet pays off for global expansion
Ten years and over a trillion won in investment — an extraordinary commitment to technology that few local finance companies can match. Hyundai Card Vice Chairman and CEO Chung Tae-young has shown that this massive bet was not a gamble but a visionary investment positioning the company for the next era as the world accelerates into the age of artificial intelligence. Last week, Hyundai Card signed a landmark deal with Japan’s Sumitomo Mitsui Card Co. to export its proprietary AI soft
Oct. 22, 2024
-
Hana Financial to lure seniors with Hana The Next
Hana Financial Group said Tuesday that it is ramping up efforts to offer more tailor-made services for senior customers under the new brand name Hana The Next. The new launch, a collaboration of its key affiliates including Hana Bank, Hana Securities and Hana Insurance, will cover both financial and non-financial areas from retirement planning to consultations on inheritance and gift taxes to health care. The first customer is TV celebrity Kang Ho-dong, who has also been named as the brand ambas
Oct. 22, 2024
-
Hyundai E&C to expand presence in South Australia
Hyundai Engineering & Construction said Tuesday that it has signed a memorandum of understanding with the government of South Australia at the company's headquarters in Jongno-gu, central Seoul. Hyundai E&C and the South Australian government will jointly carry out projects related to renewable energy, infrastructure and housing development. The agreement comes as South Australian government officials and company leaders visited Korea to promote cooperation on infrastructure for net
Oct. 22, 2024
-
SK hynix CEO visits Europe to explore chip partnerships
SK hynix CEO Kwak Noh-jung recently traveled to Europe to explore future chip technologies, meeting with key officials of the Interuniversity Micro Electronics Center, according to industry sources Monday. During his visit to the IMEC, headquartered in Leuven, Belgium, Kwak met with his counterpart Luc Van den Hove and Max Mirgoli, executive vice president in charge of worldwide strategic partnerships, at IMEC, among others. “It is fantastic when partnerships are based on friendship and tr
Oct. 21, 2024
-
LG chief to hold monthlong meetings with key affiliates
LG Group Chairman Koo Kwang-mo will reportedly receive business reports from major affiliates sequentially over the next month, starting with the electronic affiliates on Monday to establish next year’s business plans, according to industry sources, Monday. LG holds strategic meetings in the first half of each year to discuss future strategies. Business meetings in the second half focus on business performance and plans for the following year, with an emphasis on enhancing customer value a
Oct. 21, 2024
-
[Herald Interview] Hanjin scion readies for big leap
Emily Cho, president and chief marketing officer of Hanjin Logistics Corporation, visited 11 countries in the first half of this year alone as she continued adding impetus to extending the global shipping network of the company her grandfather founded 79 years ago. "I try to be present in meetings with our global clients, hoping to help foster long-term, solid partnerships with them," Cho told The Korea Herald in a recent interview at her office in central Seoul, a day before her busin
Oct. 21, 2024