SEJONG -- South Korea’s chipmakers are likely to suffer losses from US sanctions against the Chinese semiconductor industry, as Korea has invested far more in China than the US, an opposition lawmaker said Monday. According to data handed over to Rep. Kim Hoi-jae of the Democratic Party of Korea by the Ministry of Trade, Industry and Energy, Samsung Electronics invested $3.8 billion in the US ma...

ULSAN -- Unionized workers at HD Hyundai's three shipyard units kicked off a joint strike vote Monday amid little progress in their collective negotiations. Unionists at the three shipbuilders -- Hyundai Heavy Industries Co., Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co. -- are slated to cast votes till Wednesday, according to union officials. It marks the first time that the...

Korean Air Lines Co. said Monday its flight KE631 with 173 people on board overran the runway while landing at Cebu International Airport in the Philippines a day earlier but no injuries were reported. Korean Air expressed its "genuine" regret as it always prioritizes safety in all of its operations. "A thorough investigation will be performed together with the local aviation authorities and Ko...

A Bangkok Skytrain is shown on Sunday advertising Samsung Electronics’ newest Galaxy Z Flip4 smartphone on its exterior. Samsung launched a campaign with Google to put full exterior advertisements created by a Thai designer on four of Bangkok’s Skytrains on its busiest line to promote the two companies. The promotion will run until January 2023, according to Samsung.

A worker was injured at one of South Korean bakery giant SPC Group’s bread-making factories on Sunday, just two days after its chief extended a public apology in response to a deadly accident in another factory run by the bakery group. A factory worker in his 40s lost a finger when trying to sort out defective products from a conveyer belt at a Shany bread-making factory operated by SPC Group in...

South Korean accommodation sales in the third quarter rose 142.5 percent compared to the same period in 2020 when COVID-19 pandemic was at its peak, according data provided Sunday by hospitality tech firm Onda. The results revealed lodging firms' sales have been on a constant rise since the pandemic, with third-quarter sales this year increasing by 75 percent on-year, and 54.4 percent on-quarter...

South Korean stem cell research company Miracell said Friday it had published the clinical trial results of a new regenerative skin stem cell therapy at a recent conference hosted by the IMCAS held in Bangkok. The clinical trial was conducted on a patient with psoriasis, a skin disease that is generally treated with steroids, but has a tendency to recur over time. The patent was found to have c...

Korean Air, the country’s largest air carrier, said Friday it had been named the world’s ninth best air carrier by UK-based airline and airport consultancy Skytrax. The company climbed 13 slots this year to enter the world’s top 10, from 22nd last year. This year’s World’s Best Airline award went to Qatar Airways, followed by Singapore Airlines and Emirates in the second and third, respectively....

GS Engineering and Construction subsidiary GS Inima said Thursday it received the Best Private Company Global award on Sunday at the 2022 International Desalination Association World Congress, held in Sydney, Australia. The IDA is a nongovernmental organization that promotes desalination and water recycling. It hosts the IDA World Congress biannually to recognize outstanding companies in the wat...

Local drug developer GI Innovation said Thursday its Merkel cell cancer drug GI-101, used to treat a rare type of skin cancer, has received orphan drug designation from the United States Food and Drug Administration. The designation is given to drugs that treat rare diseases that affect less than 100,000 people. The status gives tax cuts during clinical trials, and waives certain restrictions an...

The United States remains "fully committed" to enhancing the economic partnership with South Korea and open to talks as close allies, the top US envoy to Seoul said Thursday, amid mounting concerns over the new US law on electric vehicles (EVs) that Korea has called discriminatory. The South Korean government and industries have raised serious concerns over the US Inflation Reduction Act (IRA), ...

South Korean battery maker LG Energy Solution Ltd. (LGES) said Thursday it has signed a non-binding supply agreement with an Australian partner for a key mineral used in lithium-ion batteries. Under the memorandum of understanding with Syrah Resources Ltd., the Australian company will provide 2,000 tons of natural graphite anode material to LGES, starting in 2025, and gradually expand the supply...

The future of the metaverse will include telepathy, predicting the future and hyper learning, Ethereum Foundation founding member and CEO of the metaverse-building platform MetaMetaverse Joel Dietz said Wednesday at the Korea Herald Biz Forum held at the Four Seasons Hotel Seoul. “I am going to make some bold claims,” Dietz said as he introduced three of his futurist visions of the metaverse. D...

Experts at The Korea Herald Biz Forum spell out tech advances that lie ahead

South Korean steelmaker Posco Group Chairman Choi Jung-woo has been elected to lead the world’s largest steelmakers’ association, the company said Wednesday. At the association’s general meeting held Tuesday in Brussels, Choi became its 44th chairman, and India’s Jindal Steel Works Chairman Sajjan Jindal and US’ Nucor CEO Leon Topalian will support Choi as vice chairmen. Choi's one-year term be...