Merck boasts materials know-how at K-Display

Merck Korea, the Korean subsidiary of German science and technology juggernaut Merck, has showcased its materials intelligence with its participation at K-Display 2024, South Korea’s largest display exhibition. Merck enhances data interpretation and transmission by utilizing intelligence technologies, such as data processing and artificial intelligence, leading the advancement of the digital environment. It plays a crucial role in connecting users with data through display technologies. Un

Aug. 14, 2024

SK Square’s new CEO vows to up semiconductor investment

Han Myung-jin, the new chief executive officer of SK Group’s investment arm SK Square, took office Wednesday, pledging to build a more chip-central business portfolio. SK Square shareholders approved the appointment of Han during a meeting held in central Seoul on Wednesday, where he won 99.4 percent of the votes. Han officially took the post as the chief of SK Square at a board meeting, the company said. The inauguration comes more than a month after he was nominated to the post on July 3

Aug. 14, 2024

[KH Explains] Are China-made batteries being fairly criticized for EV fires?

“Our Mercedes-Benz customers are upset, and some are canceling their EV reservations. They’re saying, ‘How can you use cheap Chinese batteries in a luxury car?’ They’re angry because they feel betrayed,” said a manager at a Mercedes-Benz dealership in Korea. This backlash stems from the revelation that the battery in a Mercedes electric vehicle that led to a major fire in an Incheon apartment underground parking lot on Aug. 1 was made by Farasis Energy, a rela

Aug. 14, 2024

[Hello India] Korean investors flock to India's booming stock market

More South Korean investors are eyeing lucrative opportunities in the booming Indian market with its equity funds yielding more returns than those comprising US and Japanese stocks. In June, India’s total stock market value reached the $5 trillion milestone, making it one of the world’s biggest markets, following those of the US, China, Japan and Hong Kong. With remaining hurdles in foreign direct investment regarding registration and taxation, local retail investors are choosing to

Aug. 14, 2024

[Hello India] Korean firms seek to indulge India's K-food craving

South Korea has seen a rise in food exports to India in recent years, capitalizing on the growing popularity of Korean culture and foods, which also aligns with the efforts of Korean food companies to expand their presence there, drawn to the country's large population and growth in income levels. According to data compiled by the Korea Agro-Fisheries & Food Trade Corp., or aT, Korean food exports to India -- including agricultural produce, food additives, convenience foods, and both al

Aug. 14, 2024

Samsung, LG unveil new OLED tech to widen gap with Chinese runner-ups

The nation's top two display-makers, Samsung Display and LG Display, unveiled Wednesday their latest cutting-edge organic light-emitting diode display technologies involving artificial intelligence and new form factors, in an apparent move to widen the gap with their Chinese runner-ups. At the K-Display Industry trade show taking place in Seoul this week, Korea Display Industry Association Chairman Choi Joo-sun underscored how Korean display-makers will keep ahead of Chinese rivals in the c

Aug. 14, 2024

Hanjin Logistics sets up Singapore branch

Hanjin Logistics Corp., an affiliate of Korean airline-to-logistics conglomerate Hanjin Group, said Wednesday that it set up a branch in Singapore as part of its plan to develop a network within the ASEAN member countries. This branch marks a strategic move to elevate the firm's status in the Asian logistics market, aiming to solidify its foothold in the ASEAN region. "Since Singapore is a geopolitically critical hub, establishing our branch there is a vital step in boosting our compet

Aug. 14, 2024

[Photo News] Home repairing for patriots

Daewoo Construction & Engineering employees join a house repair project for descendants of the nation’s independence fighters in Cheonan, South Chungcheong Province, Tuesday. In partnership with Korea Habitat, the builder has completed a total of 21 housing projects since 2021. (Daewoo E&C)

Aug. 14, 2024

[Photo News] Advancing Indonesia's digital education

Kakao Bank CEO Yun Ho-young (far right) and employees pose for a picture at the company headquarters in Pangyo, Gyeonggi Province, Tuesday before heading to Indonesia for volunteer work. A team of 15 employees will spend a week in Mauk, Indonesia, helping to improve the region's digital education environment and engaging in construction projects to better the living conditions of children of underprivileged families. (Kakao Bank)

Aug. 14, 2024

Job additions rise over 100,000 for first time in 3 months

South Korea added more than 100,000 jobs for the first time in three months in July, but jobs in the construction sector fell by the most in 11 years amid a slowdown in the industry, data showed Wednesday. The number of employed people came to 28.86 million last month, up 172,000 from a year earlier, according to the data compiled by Statistics Korea. It marked the first time in three months that the monthly job additions bounced back to over 100,000. In June, 96,000 jobs were added on-year afte

Aug. 14, 2024

South Korea opens export of heat-treated chicken products to Britain

The government announced Tuesday the opening of exports for heat-treated chicken products, including frozen chicken, dumplings and the ginseng chicken soup known as samgyetang to Britain. This strategic initiative marks a pivotal entry into the British market following the successful negotiation of an export sanitary and quarantine agreement for such products with the European Union (EU) in December of the previous year. Bolstered by a robust strategic partnership established during the South Ko

Aug. 14, 2024

Seoul shares open higher on Wall Street gains

South Korean stocks opened higher Wednesday, tracking overnight gains on Wall Street led by a cooler-than-expected US producer price index. The benchmark Korea Composite Stock Price Index rose 29.24 points, or 1.12 percent, to 2,650.74 in the first 15 minutes of trading. Overnight, major US indexes gained ground as softer producer price data boosted bets the Federal Reserve will start cutting its rates soon. In Seoul, market bellwether Samsung Electronics advanced 1.97 percent, and its chipmakin

Aug. 14, 2024

Unionized workers at Samsung Electronics to launch 4-day strike

Samsung Electronics' labor union said Tuesday it will launch a four-day strike from Liberation Day this week, stepping up pressure over their demand for a pay raise and additional bonuses. The National Samsung Electronics Union, the largest labor union of the South Korean tech giant, announced its plan to stage the strike on Aug. 15-18, instructing its striking members to refuse to work on Liberation Day on Thursday and to work in shifts until Sunday. The union and management have held seve

Aug. 13, 2024

Carmakers advised to disclose battery suppliers in EVs

The Korean government will issue an advisory urging every electric vehicle automaker in Korea to disclose battery manufacturers and offer free inspections to owners, in response to rising concerns about EV safety following a ravaging fire in an underground apartment parking lot in Incheon. The government held a high-level meeting Tuesday, chaired by Bang Ki-sun, minister of government policy coordination, with vice ministers from key ministries, including Interior and Safety, Industry, Environme

Aug. 13, 2024

Kakao Pay denies alleged data leak of 40m users

Kakao Pay, the mobile payments division of South Korea’s IT giant Kakao, has denied allegations of illegal customer data usage, amid revelations from a Financial Supervisory Service investigation. On Tuesday, the FSS revealed that Kakao Pay had allegedly shared the credit information of approximately 40 million customers with third parties without their consent. The findings emerged from the agency’s recent inspection of Kakao Pay’s overseas payment services. The FSS identified

Aug. 13, 2024

Zyx Technology signs sponsorship deal with golfer Kim Jae-hee

South Korean design software developer Zyx Technology announced Tuesday that it signed a sponsorship deal with professional golfer Kim Jae-hee. Under this sponsorship, Kim will wear a cap with the logo of ZyxCAD, the company's independently developed versatile computer-aided design software, during her participation in both domestic and international tournaments. Kim became a member of the Korea Ladies Professional Golf Association in 2019 and claimed her first victory this season at the KL

Aug. 13, 2024

[Photo News] Black umbrella protest

Protesters affected by the liquidity crisis at e-commerce platforms Tmon and WeMakePrice gather in front of Tmon’s headquarters in southern Seoul on Tuesday, holding black umbrellas with protest slogans. The demonstrators, including sellers and buyers who have not received payments or refunds from the cash-strapped Korean affiliates of Singapore's Qoo10 platform, argue that the government's emergency measures to address the issue are insufficient. For the sellers alone, the delay

Aug. 13, 2024

Regulations hinder corporate charitable missions: KCCI

Korean corporate foundations are making less social impact than those in major economies because of strict overlapping regulations, the Korea Chamber of Commerce and Industry said Tuesday, urging the government to revise tax codes to encourage corporate philanthropy. According to the World Giving Index, an annual report published by the UK-based Charities Aid Foundation, South Korea has been in a continual decline in making donations, ranking 79th out of some 140 countries in the world in 2023

Aug. 13, 2024

Seoul shares up for 3rd day ahead of key US data

South Korean stocks ended slightly higher Tuesday as investors remained cautious ahead of the releases of major US data later this week to gauge the Federal Reserve's monetary policy direction. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 3.2 points, or 0.12 percent, to 2,621.50. Trade volume was a little slim at 372.2 million shares worth 8.8 trillion won ($6.4 billion), with losers outnumbering winners 561 to 322. Fo

Aug. 13, 2024

Analysts offer rosy H2 outlook for LG Display

LG Display is expected to get out of the red in the latter half of this year, largely buoyed by its increased panel shipments for Apple's new iPhones that debut next month, according to industry sources on Tuesday. Local researchers painted a rosy outlook for LG Display, which has begun stable production of the first batch of the panels for the new iPhone 16 series. The Korean panel maker is said to be responsible for almost 40 percent of the total panel supplies for the new iPhones. Accord

Aug. 13, 2024