Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Medical standoff deepens as doctors reject new med school plan, talks
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[Graphic News] 77% of young Koreans still financially dependent
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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Samsung’s foldable display boasts US military-grade durability
Samsung Display on Monday said its foldable panel for smartphones has passed the US military’s material durability test, proving its strength in withstanding the harsh conditions of operational and combat zones. According to the display maker, its 7-inch foldable panel used in the latest foldable smartphones passed the MIL-STD 810G test, which is the US Department of Defense's military standard. First developed as a certification for equipment and materials for military applications,
Feb. 19, 2024
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Coupang, Yuhan join labor policy-focused business lobby
E-commerce giant Coupang and pharmaceutical firm Yuhan Corp. are set to join the Korea Enterprises Federation, a business lobby representing over 4,000 businesses here, according to industry sources on Monday. Some 10 firms, including Coupang, have submitted membership applications to the group, which are subject to approval from board directors and existing members at a meeting slated for Wednesday. Coupang’s decision came after three years of deliberation since its parent company, Coupan
Feb. 19, 2024
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Samsung’s first integrated labor union sets sail
A labor union comprising workers of four Samsung Group affiliates was officially launched Monday, as employees seek ways to break away from the unreasonable relationship between workers and management. Samsung Group United Union, representing Samsung Electronics' Device Experience division, Samsung Display, Samsung Fire & Marine Insurance, and Samsung Biologics, held an inauguration ceremony earlier in the day in Seoul. “Our purpose is to establish independence in the relations be
Feb. 19, 2024
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[Photo News] Safety first
Cho Jeong-lae (right), the president director of KB Insurance Indonesia, places a safety helmet on a student at the Sinar Cahaya Kasih school in South Jakarta, Indonesia, during a donation ceremony Friday. KB Insurance said it will distribute 1,000 helmets to underprivileged children and adolescents in Indonesia to promote road safety. (KB Insurance)
Feb. 19, 2024
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[Herald Interview] ‘Korea needs to power up defense academia’
South Korea now should focus on fostering defense academia and young talents to become a leader in the global defense industry, says Kang Eun-ho, former chief of the Defense Acquisition Program Administration. “In the past, Korea followed a catch-up strategy (in advancing its defense industry), which was a second-place strategy,” said Kang in an interview with The Korea Herald in Seoul on Feb. 5. “For the catch-up strategy, we had to succeed in over 90 or 95 tasks out of 100. I
Feb. 18, 2024
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Samsung Bioepis posts record-high biosimilar sales
Overseas biosimilar sales of Samsung Bioepis, a biosimilar developer under Samsung Group, reached an all-time high in 2023, according to its partner companies on Sunday. According to Samsung Bioepis’ US partners, Biogen and Organon, sales of Samsung Bioepis’ biosimilar products in overseas markets came to $1.36 billion, or some 1.8 trillion won in 2023. The figure was up 11 percent from $1.23 billion in 2022. Biosimilar sales through Biogen came to $770 million, up 3 percent on-year,
Feb. 18, 2024
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Korean telcos to show off latest AI tech at MWC
Korea’s leading telecommunication firms are to showcase their latest artificial intelligence technologies and services at the upcoming MWC Barcelona 2024, the world’s largest connectivity show slated for next week in Spain. The country’s top two mobile carriers SK Telecom and KT revealed their plans Sunday to set up showrooms at this year's event running from Feb. 26 to 29, with exhibitions mainly focused on AI and next-generation 5G and 6G connectivity. LG Uplus, Korea
Feb. 18, 2024
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[Photo News] Water Partnership
Woori Financial Group Chairman Yim Jong-yong (left) and Korean Water Resources Corp. (or K-water) CEO Yun Seog-dae pose for a photo at the financial giant’s Seoul headquarters on Thursday after signing a memorandum of understanding to support small- and medium-sized firms for their overseas expansion and environmental, social and governance management. “Our partnership combining Woori’s expertise in corporate financing and K-water’s business know-how will become a crucial
Feb. 18, 2024
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K-water CEO meets Saudi ambassador to help with country's water challenges
Korea Water Resources, the state-run water management agency also known as K-water, had a meeting with the Saudi Arabian ambassador to Korea to discuss water concerns and request support for Saudi Arabia's bid to host the World Water Forum in 2027. K-water announced Friday that CEO Yun Seog-dae met with Ambassador Sami M. Alsadhan at the company's office in Gwacheon, Gyeonggi Province, to discuss K-water’s advanced technologies that can assist in tackling Saudi Arabia's wate
Feb. 16, 2024
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Samsung Display may face strike amid pay deadlock
Samsung Display is on the verge of facing its second-ever labor strike, as unionized workers and the company failed to reach an agreement in wage talks and collective negotiation. The unionists held a fifth round of talks over wages and collective bargaining agreements on Thursday with the display maker's management, but the company showed “no willingness” for a negotiation, the union chief told The Korea Herald on Friday. “From the first round of negotiations that began i
Feb. 16, 2024
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Samsung chairman inspects biotech arm, urges to 'aim higher'
Samsung Electronics Chair and Samsung Group leader Lee Jae-yong on Friday visited the group’s biotech arm in Incheon, calling on executives and staff members to set higher goals after the unit posted all-time high earnings last year. At Samsung Biologics’ biopharmaceutical campus in the Songdo Industrial Cluster in Incheon, the chair inspected the construction site of its fifth plant with a capacity of 180,000 liters, slated to go online in April 2025, and was briefed by executives
Feb. 16, 2024
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SK Networks unveils AI investment firm goal
SK Networks unveiled its vision to transform into an artificial intelligence-centered business investment firm on Friday and mapped out a plan to triple its operating income to 700 billion won ($524 million) by the end of 2026. “Based on the innovative foundation of our business model, we will continue to create and grow the happiness of various stakeholders by promoting 'AI democratization,’ ensuring universal access to the benefits of AI technology by fostering a civilization
Feb. 16, 2024
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Bithumb hits stumbling block in ambition to be market No. 1
Bithumb Korea, the operator of the country’s No. 2 cryptocurrency exchange Bithumb, has failed to seal a deal with major local lender KB Kookmin Bank for issuance of real-name accounts, jeopardizing its plan to attract more traders. KB Kookmin Bank informed Bithumb last week that it will not partner with the crypto exchange to provide real-name accounts, industry officials confirmed Friday. In Korea, virtual asset exchanges are required to utilize real-name accounts under commercial banks
Feb. 16, 2024
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CJ appoints two new CEOs for group's core companies
CJ Group has named two new CEOs to lead its key units -- CJ CheilJedang and CJ Logistics -- as part of its annual personnel reshuffle announced on Thursday. Kang Sin-ho, currently the CEO of CJ Logistics, has been promoted to vice chairperson of CJ CheilJedang and will assume the role of CEO at the food company. Shin Young-soo, who presently oversees CJ Logistics' Korea business division, will replace Kang to take the helm as CJ Logistics CEO. This marks the first time since 2017 that CJ Gr
Feb. 16, 2024
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BBQ's delivery-only outlet opens in Vietnam
Korea's fried chicken franchise BBQ Chicken has opened a BBQ Smart Kitchen store specializing in delivery orders and takeout services in Vietnam, marking its Southeast Asian debut to tap into the rapidly growing delivery market. Genesis BBQ announced Friday the recent opening of its BBQ Gardenia branch, situated within the upscale Vinhome Gardenia apartment complex in Hanoi. "Given the unique growth trajectory of the Vietnamese delivery market among Southeast Asian nations, we are intr
Feb. 16, 2024
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Coupang's alleged 'blacklist' sparks legal clash
Coupang Fulfillment Service, a subsidiary of e-commerce giant Coupang, announced on Thursday that it is has taken legal action against a lawyer who has claimed that the company blacklisted over 16,000 former and current employees, as well as individuals associated with Coupang, purportedly to prevent their reemployment or subject them to close monitoring in other situations. CFS filed a complaint with police in Songpa-gu, Seoul, against Kwon Young-guk, a lawyer and former head of legal advisory
Feb. 15, 2024
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LG Chem, CJ CheilJedang to partner on bio-based nylon
LG Chem announced Thursday that the company will work together with food giant CJ CheilJedang to produce bio-based nylon, an eco-friendly alternative to traditional synthetic polymers. LG Chem said the two companies signed a heads of agreement on Wednesday to establish a joint venture that will produce ingredients and bio-based nylon products. “It has not been determined yet, but the two companies are expected to establish the joint company as early as this year,” an official familia
Feb. 15, 2024
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Activist funds demand W1tr Samsung C&T payout
A tense faceoff between shareholders and Samsung C&T management is expected, as five foreign activist funds have teamed up to demand the Korean firm return its profit to shareholders through dividends and a share buyback program that would amount to some 1.2 trillion won ($900 million). In a regulatory filing on Thursday, Samsung C&T reported it has submitted the proposal made by the five activist funds, which includes City of London Investment, for a vote at the upcoming regular shareholders me
Feb. 15, 2024
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S-Oil CEO calls for continued incentives on long-term investments
S-Oil has called for continued incentives from the South Korean government to vitalize large-scale projects and investments in the new energy sector. “Expanding incentive supports such as extending the tax credit period for investment in large scale projects that take place over a long period of time is necessary,” said S-Oil CEO Anwar A. Al-Hejazi in a meeting with President Yoon Suk Yeol and foreign-invested company representatives and heads of Seoul-based commerce chambers in Seou
Feb. 15, 2024
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Toss Securities logs first annual profit
Toss Securities saw its first profitable year since it started service three years ago by logging 1.53 billion won ($1.15 million) in net profit last year, it said on Thursday. Sales rose by 58 percent on year to 202 billion won in the same period, with the operating loss narrowed by 31.3 billion won to 900 million won. The firm attributed its first profitable year to transaction volume expansion, which led to improved earnings from the trading commission. Domestic and overseas market transactio
Feb. 15, 2024