Most Popular
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Harris, Trump face off as North Korea tests US on Election Day
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[Out of the Shadows] Seoul room clubs offer drugs to compete for clientele
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North Korea fires ballistic missiles hours before US Election Day
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Trump wins US election, foreshadows policy shift
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Seoul eyes expanding foreign caregiver pilot program
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‘Jang-making’ likely to get UNESCO recognition
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Changing K-pop stars: idols begin to speak out
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From Bush to Biden: How North Korea sees US elections
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Harris, Trump secure expected wins in reliable states as vote counting proceeds
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[Graphic News] Average lunch over 10,000 won
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Korea Zinc's tender offer, Young Poong's second filing further bring feud to head
Korea Zinc, the world's largest zinc smelter, is launching a tender offer to repurchase shares valued at up to 3.1 trillion won ($2.25 billion) to defend its position in the ongoing management dispute with Young Poong, its largest shareholder, and private equity firm MBK Partners. Korea Zinc Chairman Choi Yun-beom announced Wednesday during a press conference in Seoul that the company’s board has resolved to initiate this tender offer for treasury shares. Choi said the tender offer ai
Oct. 2, 2024
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Zyx Technology eyes SE Asia expansion with cutting-edge design software
South Korean design software developer Zyx Technology unveiled its latest products at Automation World Vietnam 2024 held in Ho Chi Minh City, in an effort to expand its business in Southeast Asia, the company said Wednesday. At the event, Zyx Technology introduced its flagship products: its general-purpose design software ZyxCAD, the AI-powered Works and Zyx Designer, and its GIS based Smart Construction Platform. These advanced tools are designed to improve design efficiency and support smart
Oct. 2, 2024
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Food tycoon Paik Jong-won's Theborn Korea pushes toward IPO
Celebrity entrepreneur and chef Paik Jong-won’s yearslong effort to list his food franchise firm Theborn Korea on the country’s main bourse has cleared its first hurdle, yet challenges remain as the fate of the company heavily depends on his fame. Supported by a strong brand lineup and the rising public profile of its CEO Paik, Theborn Korea passed the preliminary review by the Korea Exchange for its initial public offering on Aug. 30, about three months after submitting its applicat
Oct. 2, 2024
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Seoul shares dip for 3rd day amid Middle East tensions
Seoul shares closed lower for the third consecutive day Wednesday as investors sat on the sidelines amid the escalating tension in the Middle East following Iran's massive missile attack against Israel. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 1.22 percent, or 31.58 points, to 2,561.69. Trading volume was moderate at 341.9 million shares worth 9.38 trillion won ($7.1 billion), with losers far outnumbering winners at 705 to 177. F
Oct. 2, 2024
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Samsung tightens its belt amid crisis winds
Samsung Electronics, a leading tech giant in smartphones and semiconductors, is seen implementing austerity measures, reducing headcounts and downsizing celebratory events as it falls behind global peers in its core product markets. On Wednesday, Bloomberg reported Samsung Electronics is expected to lay off about 10 percent of its total overseas staff of 147,000, with the latest headcount cut being carried out in its headquarters in Southeast Asia, Australia and New Zealand. The company already
Oct. 2, 2024
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Egnis partners with Oklahoma for Xolution's resealable can business
Lifestyle brand developer Egnis announced Wednesday that it began partnership with the Oklahoma government in hopes to expand its German subsidiary Xolution's resealable can business in the US. The business agreement signing ceremony held Tuesday at The Shilla Seoul, was attended by Park Chan-ho, CEO of Egnis, Evan Brown, executive director of the Oklahoma Department of Commerce’s Economic Development, Growth and Expansion division and Marc Von Rettberg, CEO and managing director at X
Oct. 2, 2024
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KT&G showcases flagship tobacco brands at global duty-free expo
South Korea's leading tobacco company KT&G said on Wednesday that it is showcasing its top duty-free products at the TFWA World Exhibition & Conference in Cannes, France, to strengthen its presence in the international duty-free market. The company is displaying its premium brands such as Raison, Bohem and Esse -- the world’s bestselling ultra-slim cigarette -- while emphasizing its global business performance at its booth installed at the event from Sept. 30 through Oct. 3. M
Oct. 2, 2024
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Hanwha Qcells sells 142 MW solar power project in Washington
Hanwha Solution’s Qcells, the solar energy division under Korean conglomerate Hanwha Group, has sold a 142 megawatt solar photovoltaics project to Washington state’s largest utility company Puget Sound Energy, Hanwha Qcells said Wednesday. Hanwha Qcells highlighted that the sale of the solar power project signifies optimizing the profit structure by selling the developmental assets and securing a turnkey contract for the services of engineering, procurement and construction, or EPC.
Oct. 2, 2024
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[Photo News] Hanwha to light up Seoul skies
The 2024 Seoul Fireworks Festival, hosted by Hanwha Corporation, will light up Yeouido Hangang Park this Saturday with stunning pyrotechnics. Teams from Japan, the US and South Korea will showcase innovative fireworks displays, blending tradition with modern technology. Hanwha’s display, the largest of the night, will synchronize fireworks bursts across multiple bridges, creating a citywide spectacle. Signature effects include the breathtaking “Niagara Falls” fireworks from Won
Oct. 2, 2024
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[Photo News] Back in black
Genesis, a luxury brand under Korean auto giant Hyundai Motor Group, announced the launch of the GV80 Black and GV Coupe Black on Wednesday. Marking the brand's second series of black editions following the G90 high-end sedan, the premium sport utility vehicle solely focuses on black, even in the details, for both the exterior and interior designs. The new vehicles will be on display at the Busan International Film Festival from Wednesday to Oct. 11. (Hyundai Motor Group)
Oct. 2, 2024
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[Gadget Review] Apple's new iPhone 16 Pro: Professional camera phone
Apple’s latest flagship smartphone series -- the iPhone 16, iPhone 16 Plus, iPhone 16 Pro and iPhone 16 Pro Max -- debuted in Korea on Sept. 20 as the US tech giant included the country among the first regions for its newest phones’ launch. Since the first iPhone debuted here in 2009, it marks the first time that Korea has been included in the list of the first countries to have new iPhones. Despite the early release, Korean sales remain lukewarm. Coupang, a major online seller, saw
Oct. 2, 2024
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Seoul shares open lower amid escalating Middle East tensions
Seoul shares opened lower Wednesday tracking overnight losses on Wall Street amid growing concerns over an all-out war in the Middle East after Iran attacked Israel with missiles. The benchmark Korea Composite Stock Price Index fell 0.89 percent, or 23.04 points, to 2,570.23 in the first 15 minutes of trading. Overnight, US shares tumbled after Iran fired missiles directly at Israel, with the Dow Jones Industrial Average losing 0.41 percent and the tech-heavy Nasdaq composite plunging 1.53 perce
Oct. 2, 2024
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Consumer inflation slows to 3 1/2-year low of 1.6 % in Sept.
South Korea's consumer prices slowed to the lowest level in 3 1/2 years in September, falling below 2 percent for the first time since early 2021, data showed Wednesday. Consumer prices, a key gauge of inflation, rose 1.6 percent on-year last month, compared with a 2 percent increase a month earlier, according to the data from Statistics Korea. September's figure marked the lowest level since February 2021, when consumer prices grew 1.4 percent. The figure last came to the 1 percent ra
Oct. 2, 2024
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Korean Air wins US awards for best first, business class cabins
Korean Air announced Tuesday that it has topped the 2024 USA Today 10 Best Readers’ Choice Awards in the business and first class category for the second year in a row. The airline also placed second for best in-flight food for the second consecutive year, while its cabin crew ranking improved from sixth to fourth place. The USA Today 10 Best Readers’ Choice Awards honors top performers across a range of categories. Nominees are selected by a panel of experts, with the final winners
Oct. 2, 2024
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[KH Explains] Hanwha Aerospace vies for Chunmoo export to Norway
Hanwha Aerospace is looking to export Chunmoo, the self-developed multiple rocket launch system, to Norway as the Korean defense firm pins hopes on expanding its market presence in Europe. Hanwha Aerospace showcased a life-sized Chunmoo for the first time in Europe at the Eurosatory defense show in Paris in June this year, emphasizing the company’s willingness to secure more clients in the region beyond Poland. Defense industry experts say weapons system manufacturers do not exhibit actual
Oct. 1, 2024
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KT chief vows to secure AI leadership
Telecom carriers can further expand their roles in the era of artificial intelligence as they hold the lead in offering diverse services, KT CEO Kim Young-shub said at a mobile conference in Seoul on Tuesday, saying collaboration with tech rivals is crucial to boost service quality. "AI-based services have already been realized across all areas, including telecommunications, health care, public transportation, manufacturing and logistics," Kim said in his keynote speech at this year
Oct. 1, 2024
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[Herald Interview] Sleep tech startup Munice seeks bigger footing in US
In a world where sleep disorders reportedly affect millions, South Korean startup Munice is offering a unique and science-based solution. Their app, Nightly, specializes in using a specific type of rhythmic sound frequency, called monaural beats, designed to promote relaxation and deep sleep. According to CEO Kwon Seo-hyun, 26, Nightly helps users fall asleep faster and experience deeper rest through brainwave entrainment. The app encourages electrical oscillations of the brain to synchronize wi
Oct. 1, 2024
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Posco chief stresses innovation for survival at CEO forum
Posco Group Chairman Chang In-hwa underscored the urgent need for a "future-oriented strategy," during his address to executives at the 2024 Posco Forum, which took place at the Posco Global R&D Center in Songdo-dong, Incheon on Tuesday. Now in its sixth year, the theme of this year’s forum is "Navigating Crisis, Innovating for Future." Some 100 executives from the group's affiliated companies will convene for two days to gain insights from external experts and
Oct. 1, 2024
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[KH Explains] Korea pursues ‘fire-free’ batteries amid EV fears
Ever since a Mercedes-Benz electric vehicle burst into flames in Incheon in August, an “EV phobia” has gripped drivers here. Less than two weeks from the massive fire, Hyundai Motor Group, the nation’s largest carmaker, preemptively disclosed the list of its EV battery manufacturers, prompting its foreign rivals to hustle to reveal their respective battery origins. A series of safety measures have also been unveiled from a new battery certification system to EV charger upgrades
Oct. 1, 2024
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SK Innovation develops low-cost membrane for carbon capture
SK Innovation, with its subsidiary SK IE Technology and researchers from Yonsei University, has developed a next-generation technology designed to capture carbon emissions more efficiently and at a lower cost. This breakthrough could have significant implications for the biggest carbon-emitting industries, such as power plants, steel mills and cement factories. The research, a collaboration between the SK Innovation Institute of Environmental Science and Technology, SKIET’s R&D Center,
Oct. 1, 2024