Most Popular
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Qoo10 liquidity crisis sparks massive complaints, fears of wider damage
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Yoon urges municipalities to embrace foreigners
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What is happening at Hybe?
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S. Korea to consent to Japan's Sado mines gaining World Heritage status: official
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Korea unveils tax reform bill to spur economy
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Actor’s excessive airport security sparks probe into human rights violations
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Actor Yoo Ah-in accused of sexual attack
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Man who let his father die due to financial difficulties to be released on parole
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S. Korea, China shifting from tensions to cooperation: Seoul
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LG Electronics achieves record earnings in Q2
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Doosan Robotics sets up Europe headquarters in Germany
Doosan Robotics announced Monday the establishment of its European branch, Doosan Robotics Europe, in Dusseldorf, Germany, aiming to expand its sales channels and respond more effectively to local demand. Doosan Robotics Europe will collaborate with system integrators and dealers in major European markets, including Germany, the United Kingdom, the Netherlands, and Italy. This new branch will promote and sell automation solutions that are particularly sought after in Europe. These solutions incl
May 20, 2024
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CJ Logistics to build cold chain logistics center in central US
CJ Logistics, South Korea's biggest logistics company, said Sunday it will build a cold chain logistics center in the United States as part of efforts to expand its foothold in the North American market. The new center, tailored for the delivery of cold storage products and frozen goods, will be set up in New Century, Kansas, where a major railway is nearby, according to the company. The 27,034-square-meter center will start operations in the third quarter of next year and be able to delive
May 19, 2024
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Korean builders nervous about possible setbacks in Middle East
South Korean builders remain alert against geopolitical risks rising across the Middle East that could throw cold water over their expectations to take a ride on the region's construction boom. Instability in the Middle East, a key market for Korean construction companies overseas, has been sparking concerns over possible setbacks in infrastructure and maintenance projects undertaken by the builders. "Oil-exporting (Middle East) economies are heavily dependent on oil prices, which ar
May 19, 2024
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HD Hyundai chair receives honorary doctorate from HUFS
HD Hyundai Chairman Kwon Oh-gap has been bestowed an honorary doctorate in business from Hankuk University of Foreign Studies, the company said Sunday. HUFS conferred Kwon, an alumnus, for his contributions to the national economy by securing firm’s competitiveness, fulfilling social responsibilities, and fostering a culture of sharing. Joining the firm in 1978, Kwon has led the shipbuilding giant to become a technology-driven, globally competitive heavy industry leader. As the shipbuildin
May 19, 2024
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Woori, KB ink QR code payment partnership with Cambodia
Woori Bank, one of the leading South Korean lenders, has joined hands with the National Bank of Cambodia to develop a cross-border quick response code payment system, the bank announced Friday. An agreement ceremony for the partnership was held Thursday on the sidelines of the Korea-Cambodia business forum, on the occasion of a summit between President Yoon Suk Yeol and Cambodian Prime Minister Hun Manet in Seoul. Business and political figures from Korea and Cambodia, including Woori Bank CEO C
May 19, 2024
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Samsung eyes W1tr in sales of pricey capacitors for cars
Samsung-Electro Mechanics, a leading electronic parts maker affiliated with Samsung Electronics, has set a sales goal of 1 trillion won ($736 million) for its flagship Multi-Layer Ceramic Capacitor or MLCC products this year, strategically targeting the automotive sector. "Leveraging our technological prowess nurtured in the IT sector, the company aims to expand its portfolio to servers for AI services and automotive solutions, the two burgeoning markets for MLCC," Kim Wi-heon, the MLC
May 19, 2024
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
South Korea's exports of instant noodles surpassed the $100 million mark for the first time last month on the growing popularity of Korean culture and food, data showed Sunday. Exports of instant noodles, or "ramyeon" in Korean, reached $108.6 million in April, up 46.8 percent from a year earlier, growing at the fastest pace since May 2022, according to the Korea Customs Service. It marks the first time the monthly figure has exceeded $100 million, the agency said. Ramyeon exports have
May 19, 2024
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Samsung expected to introduce new Exynos processor in next Galaxy series
Samsung Electronics is expected to introduce its new flagship Exynos 2500 mobile processor made with its cutting-edge 3-nanometer process, in the upcoming Galaxy S25 smartphone lineup, according to industry sources on Friday. The envisioned chipset, which will be produced on Samsung Foundry’s second-generation 3nm process node using the advanced Gate-all-around technology, will be designed with the main focus on improving power efficiency. Samsung, the world's top memory chipmaker, ha
May 17, 2024
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Metanation, Memetoon partner up for webtoon, short-form services
Metanation and Memetoon inked a deal Tuesday for a global content market-focused partnership, which will involve projects incorporating blockchain Web3 technology across different industries such as webtoons, movies and dramas. Webtoon service Memetoon, which has an international publisher, plans a range of services involving secondary copyright, NFTs, AI, tournaments, donations, sponsorships, support, and gaming, utilizing its token and point systems. "We aim to provide a decentralized mod
May 17, 2024
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[Contribution] Can arboretums and gardens save the world? Exploring their role in biodiversity conservation
By Lee Seok-woo In recent years, the rapid decline of biodiversity worldwide due to deteriorating global environmental conditions, including climate change, has become a pressing concern. The need for urgent measures to conserve biodiversity has never been more critical. Arboretums play a crucial role in preserving plant species diversity, especially in the conservation of indigenous plant species. Additionally, the diverse forms of gardens being established in urban areas are increasingly recog
May 16, 2024
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Woori partners with India’s Tata Motors in auto finance push
Woori Financial Group on Thursday announced a new partnership with Indian auto giant Tata Motors as part of its strategy to expand its presence in the global auto finance market. Woori Financial Group Chairman Yim Jong-yong and Tata Motors Executive Director Girish Wagh held an agreement signing ceremony for business cooperation at Woori’s headquarters in Seoul on Thursday. Tata Motors is a flagship subsidiary of India's top conglomerate Tata Group, accounting for around a third of th
May 16, 2024
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Starbucks Korea to speed up hiring process
Starbucks Korea announced Thursday that the company has introduced a faster hiring process that will halve the time to recruit baristas and workers at its branches. “The existing hiring process takes around 50 days to recruit new employees, but the new hiring process will take roughly three weeks,” an official from Starbucks Korea said. According to Starbucks Korea, the new hiring process will be tested at 50 of its branches across the country. The company could extend the adoption o
May 16, 2024
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Kepco to raise electricity prices as total debt soars past W200tr
Despite self-rescue efforts, a hike in electricity prices is inevitable, the Korea Electric Power Corp. Chief Executive Officer Kim Dong-cheol said Thursday. Explaining how the company was able to reduce its snowballing debt through all-out efforts, including a massive personnel restructuring, Kim noted that Korea's electricity prices are far lower than other countries. "The cost of purchasing electricity surged from 2021, but we could not shift the burden into electricity prices, and
May 16, 2024
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[Photo News] Kyobo Life meetup
Kyobo Life Insurance CEO and Chair Shin Chang-jae (center) poses for photos with insurance consultants at the 2024 Kyobo MDRT Day, held at the insurer’s training institute in Cheonan, South Chungcheong Province, Tuesday. The MDRT, which stands for Million Dollar Round Table, brings leading life insurance professionals together. Around 490 Kyobo MDRT insurance consultants were in attendance. At the event, Shin said, "Insurance consultants are more than just sellers of insurance product
May 16, 2024
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Jente partners with specialized logistics firm to elevate luxury delivery standards
Luxury online boutique platform Jente has teamed up with Valex, a specialized logistics company here, intending to elevate the overall luxury experience for its customers. Jente signed a premium delivery partnership agreement with Valex at its headquarters in Gangnam on Wednesday. The agreement aims at minimizing customer concerns and inconveniences while ensuring reliability and safety related to luxury purchases and deliveries. "We are committed to enriching Jente's luxury ecosystem
May 16, 2024
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[Photo News] Riding the wave
A model of an electric wave monitoring aircraft is on display at a booth at the 2024 Land, Infrastructure and Transport Technology Fair, held at Coex in Gangnam-gu, southern Seoul, Wednesday. Organized by the Transport Ministry, the exhibition, which runs until Friday, features a total of 300 booths operated by 220 transportation and technology-related organizations. Visitors have the opportunity to experience firsthand how various technologies in the land and transportation sector, including ur
May 15, 2024
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LG Electronics strengthens medical robot services
LG Electronics joined hands Hanllym University Sacred Heart Hospital as part of its effort to strengthen medical robot services with its “affectionate intelligence” robot, Cloi, the company said on Wednesday. In an agreement, LG and the hospital agreed to collaborate to discover various scenarios of when robots can be used in medical institutes, and establish demonstration cases within domestic and international medical institutions. "With LG's Cloi robot taking charge of r
May 15, 2024
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Korean display makers show off next-gen OLED technologies at SID event
Samsung Display and LG Display presented the next-generation organic light-emitting diodes and Quantum dot panel technologies at this year’s Display Week 2024 in the US. Samsung introduced the industry's first quantum dot light-emitting diode display, the next-generation self-luminous technology, at SID Display Week 2024. The event, hosted by the Society for Information Display, kicked off Tuesday in San Jose, California, and runs until Thursday. The new technology implements RGB pixe
May 15, 2024
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Is FTC's conglomerate listing a boon or bane for Hybe?
Hybe, the K-pop giant housing BTS, has become the first Korean entertainment firm to be designated a conglomerate by the country’s antitrust regulator, as its assets swelled big enough to fulfill the same tougher obligations as other large business groups. The Fair Trade Commission included Hybe along with five other firms in the list of conglomerates Tuesday, thanks to the boy band's enormous popularity and profitability alongside the agency’s active mergers and acquisitions
May 15, 2024
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Korean industries gauge impact of Biden's steep tariffs on China
Korea is closely evaluating potential impacts on its key manufacturing sectors in response to steep US tariff hikes on key Chinese imports, bracing for potential supply chain disruptions while hoping to capitalize on any advantages. US President Joe Biden on Tuesday announced tariff hikes against Chinese imports, targeting a range of products including electric vehicles, legacy semiconductors, advanced batteries, battery components, solar cells, steel, critical minerals, aluminum and medical eq
May 15, 2024