Korea Arboreta and Gardens Institute takes center stage in global plant conservation efforts

As climate change continues to threaten plant ecosystems worldwide, the Korea Arboreta and Gardens Institute is drawing increased attention as a key player in protecting biodiversity both locally and abroad. Operating under the state-run Korea Forest Service, KoAGI's primary task is managing the Baekdudaegan Global Seed Vault in Bonghwa, North Gyeongsang Province. Opened in December 2015, the vault houses nearly 240,000 seeds from 5,792 wild plant species worldwide and is one of only two su

Aug. 13, 2024

Botanical experts convene in Korea to highlight urgency of plant conservation

A global gathering of botanical experts convened Wednesday at the National Arboretum in Sejong, South Korea, to address the pressing issue of plant biodiversity conservation in an era of climate change. The international symposium, jointly hosted by the Korea Arboreta and Gardens Institute (KoAGI), Korea Forest Service and Korea National Arboretum, brought together 100 leading specialists from across the globe to hash out collaborative strategies for protecting the planet's flora. Dr. Paul

Aug. 13, 2024

Chipmakers keen on enhancing power efficiency of AI chips

The latest boom in artificial intelligence is prompting competition among the world's top three memory-chip-makers to debut more power-efficient DRAM chips with higher capacity to power high-performance computing for AI applications. Chipmakers are focusing especially on the seventh-generation Low Power Double Data Rate 5X chip to be used not just in mobile devices, but also in the automotive industry. "As AI applications are diversifying, the demand for memory products consuming low p

Aug. 13, 2024

Fannie Mae extends lease of Igis-owned Midtown Center in DC

After looking to relocate its headquarters from Washington, partially owned by South Korea's Igis Asset Management, US mortgage giant Fannie Mae has reversed course, opting instead to extend its lease under revised terms that will see it occupy a smaller space. Igis Asset Management announced Tuesday that the Federal National Mortgage Association, commonly known as Fannie Mae, has recently signed a new long-term lease at Midtown Center, a downtown DC property the Korean company jointly owns

Aug. 13, 2024

Mercedes-Benz Korea responds to EV fire with supplier list, free inspections

Mercedes-Benz Korea on Tuesday revealed the battery suppliers for all its electric cars sold here on its official Korean website and announced free inspections for all EV owners to address mounting safety concerns in the wake of a devastating fire in Incheon involving one of its electric vehicles. This announcement comes 12 days after the fire and follows similar actions taken by domestic automakers Hyundai Motor Company and Kia, both of which recently disclosed their EV battery suppliers. BMW K

Aug. 13, 2024

[Photo News] Hyundai Motor's e-paper ID cards

Hyundai Motor Company has developed an eco-friendly e-paper ID card for employees to replace plastic-based radio frequency cards. This card uses an LCD display and electronic ink, allowing for updates to user information like names and photos as needed. The card also enhances security by signaling unauthorized access with color changes and alarms and providing an SOS function for emergencies. The carmaker plans to implement this technology across its global operations. (Hyundai Motor Company)

Aug. 13, 2024

CJ CheilJedang Q2 net rises 16% on food, high-end products

South Korean food company CJ CheilJedang Corp. said Tuesday its second-quarter net profit rose 16 percent from a year earlier on increased sales of food and high-end products. Net profit for the three months to June rose to 147.82 billion won ($108 million) from 127.46 billion won during the same period of last year, the company said in a statement. "Strong overseas sales of dumpling products under CJ's Bibigo brand and other food products buoyed the quarterly results. And increased sa

Aug. 13, 2024

Seoul shares open higher ahead of key US economic data

South Korean stocks opened slightly higher Tuesday as investors are awaiting the release of major US economic data due later this week. The benchmark Korea Composite Stock Price Index (Kospi) rose 5.8 points, or 0.22 percent, to 2,624.10 in the first 15 minutes of trading. Overnight, major US indexes finished mixed, with the S&P 500 almost unchanged, the Dow Jones Industrial Average down 0.4 percent, and the tech-heavy Nasdaq composite up 0.2 percent. Investors' eyes are on the US consu

Aug. 13, 2024

PUBG maker Krafton posts record half-year earnings

Krafton posted record earnings for the first half of this year on the strong output from its popular battle royale shooter PUBG: Battlegrounds, the Korean game developer announced Monday. According to the announcement, Krafton logged 1.37 trillion won ($1 billion) in revenue and 642.6 billion won in operating profit in the January-to-June period this year, up 48.3 percent and 55 percent on year, respectively. For the second quarter alone, the game developer reported 707 billion won in revenue an

Aug. 12, 2024

Telecom carriers rush to launch call recording features for iPhones

South Korean mobile carriers are rushing to launch call-recording services for iPhone users, possibly taking a cue from the market leader SK Telecom’s success with its A. service. According to industry sources on Monday, LG Uplus, the country's smallest telecom company by market share, is planning to launch a call-recording service, dubbed, “ixi O,” in the second half of the year. The service would become the second of its kind after SK Telecom’s A. service, which de

Aug. 12, 2024

Korea-ASEAN startups to compete for sustainable development goals

South Korea's Ministry of SMEs and Startups, in partnership with Indonesia's Ministry of Cooperatives and SMEs, is set to co-host the fifth Korea-ASEAN Business Model Competition for SDGs 2024 in October. According to the organizing committee Monday, the annual event, launched in 2020, aims to foster cross-border collaboration to nurture startups and small and medium-sized enterprises from Korea and Southeast Asia. The event will act as a platform for entrepreneurs to present solutions

Aug. 12, 2024

Samsung, LG to challenge Chinese rivals with 'all-in-one' robot vacuums

Samsung Electronics and LG Electronics are stepping up efforts to carve out a share of the burgeoning robot vacuum market, which has been dominated by China's Roborock, with new machines designed to remove the pain points of existing products. This week, LG Electronics is rolling out its first all-in-one robot vacuum and mop machine in 21 years, since the company introduced its first such device in 2003. Samsung Electronics has also released a robot vacuum and mop combo machine adopting adv

Aug. 12, 2024

Seoul shares spike over 1% on eased US recession woes

South Korean stocks closed more than 1 percent higher Monday, recovering from last week's rout as concerns over a US economic recession eased. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index gained 29.87 points, or 1.15 percent, to 2,618.30, rising for the second consecutive day. Trade volume was slim at 286.2 million shares worth 7.4 trillion won ($5.4 billion), with winners far outnumbering losers 674 to 202. Foreigners and institution

Aug. 12, 2024

[Herald Interview] Why Korean investors can benefit from US equity exposure

With the US stock market representing more than half of the world’s total equity market capitalization, adopting a US perspective for investment decisions can be helpful for Korean investors, Hamish Preston, head of US Equity Indices at S&P Dow Jones Indices, said in a recent interview held online with The Korea Herald. Over the years, Korean investors have been showing an increased appetite in US-listed stocks. Their holdings of US equity stood at $88.23 billion in end-July, displayin

Aug. 12, 2024

EV fires prompt transparency moves over battery origins

Electric vehicle battery manufacturers are bracing for increased scrutiny as South Korea considers new regulations requiring automakers to disclose their battery suppliers for each vehicle model, following a series of EV-related fires including a blaze in Incheon that damaged 100 vehicles. The car in the Incheon fire was a Mercedes-Benz equipped with a battery from Farasis, a Chinese manufacturer ranked 10th in the world by revenue. The exact cause of the fire -- whether it stemmed from the batt

Aug. 12, 2024

Kyobo Life nurtures future sports stars

Kyobo Life Insurance announced Monday that the Kyobo Life Cup Youth Athletic Competition, a nationwide sports event for young athletes, has completed its 21-day run early this month. The annual event kicked off on June 13, with over 4,000 student-athletes competing in seven sports, including track and field, judo, ice skating, table tennis, gymnastics, tennis and swimming. The insurer said the competition showcased the talents of young athletes with aspirations of representing the country in the

Aug. 12, 2024

NCSoft shakes up overseas leadership to spur growth

NCSoft announced new leadership appointments at its global offices Monday, as the Korean gaming giant looks to foster new growth and bolster global businesses. NCSoft has appointed Jin Jeong-hee, former head of Pearl Abyss America, as the new CEO of NC America. Pearl Abyss, a Korean game developer, is best known for its popular massively multiplayer online role-playing game franchise Black Desert. With over 15 years of leadership experience at global gaming companies including the US offices of

Aug. 12, 2024

Celltrion gets FDA approval for phase 3 trial of Keytruda biosimilar

South Korean biopharmaceutical firm Celltrion has received US Food and Drug Administration approval to kick off advanced clinical testing for CT-P51, a biosimilar of the breakthrough cancer drug Keytruda, the company announced Monday. CT-P51 replicates the effects of pembrolizumab, marketed under the brand name Keytruda by Merck & Co., known as MSD outside North America. An immunotherapy agent enhancing the body's immune response against cancer cells, pembrolizumab has demonstrated effi

Aug. 12, 2024

Innocean hires former Mediamonks, DDB exec as European COO

Innocean, the marketing communications arm of Hyundai Motor Group, said Monday that it has named Susanne Plumecke, an automotive marketing specialist, as its new European chief operating officer. Plumecke is an industry veteran with over 20 years of experience in marketing brands, mostly carmakers. Plumecke held leadership positions at global marketing companies, including DDB and Mediamonks. Most recently, she oversaw the branding strategies of BMW and Mini as managing director of Mediamonks. I

Aug. 12, 2024

CJ CheilJedang’s Bibigo booth lures K-food enthusiasts in Paris

South Korean food giant CJ CheilJedang said Monday that its Bibigo booth, set up at the Korea House during the Paris Olympics, lured both Korean food enthusiasts and potential business partners during the 18-day run. The Bibigo products showcased at the booth included a range of Korean dishes and snacks, such as tteokbokki, "jumukbap" (stuffed rice balls), corn dogs, and mandu. The company also offered on-site cooking classes for making "gimbap," or seaweed rice rolls, which

Aug. 12, 2024