Most Popular
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South Korean author Han Kang wins 2024 Nobel Prize in literature
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NewJeans’ Hanni to attend National Assembly audit as witness
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Exploring works of Han Kang
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North Korea already cut off inter-Korean roads in Aug.: JCS chief
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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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Han Kang declines press conference, not to celebrate, citing global wars
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Han Kang's 'first reactions' after winning the Nobel Prize
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Teenage N. Korean defector shares horrific story of life in reclusive regime
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[Graphic News] First marriage age rises to 34 for men, 31.5 for women
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BTS’s V and RM celebrate Han Kang’s Nobel Prize in literature win
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Seoul shares open higher on US rate cut hopes
South Korean shares opened slightly higher Monday amid growing hopes for a US rate cut. The benchmark Korea Composite Stock Price Index (Kospi) added 2.85 points, or 0.11 percent, to 2,704.54 in the first 15 minutes of trading. The increase follows sharp gains on Wall Street, prompted by remarks from US Federal Reserve Chair Jerome Powell that hinted at the start of US rate cuts in the near future. The Dow Jones Industrial Average surged 1.14 percent to close at 41,175.07 Friday (US time), with
Aug. 26, 2024
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Delayed payments of Tmon, WeMakePrice spike to W1.3tr
Overdue settlements for vendors on ecommerce platforms Tmon and WeMakePrice have surged to 1.3 trillion won ($978 million) in total, impacting over 48,000 businesses, according to data released by the government on Sunday. The final figures showed the two struggling online marketplaces owned by Singapore-based Qoo10 owe a total of 1.3 trillion won to their vendors, surpassing the government’s initial forecast of 1 trillion won. The figure also marks a jump of over 400 billion won from the
Aug. 25, 2024
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Dongsuh enhances marketing strategy for instant coffee leadership
Korean food and beverage manufacturer Dongsuh Foods said Sunday it is ramping up marketing efforts to retain its unrivaled leadership in the nation’s instant coffee market. The company has topped instant coffee sales over the last three decades with its flagship Maxim Mocha brand. More recently, it has been diversifying its marketing strategy to appeal to a wide range of consumer groups and further boost sales of its best-selling products. Dongsuh has operated its flagship store, called Ma
Aug. 25, 2024
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Chaebol leaders to join Yoon in Czech Republic
South Korea’s top chaebol leaders are set to join President Yoon Suk Yeol on his state visit to the Czech Republic next month, according to industry sources Sunday. Yoon’s Czech visit comes after a Korean consortium, led by Korea Hydro and Nuclear Power, was recently named a preferred bidder for a major nuclear plant project in the European country. The project size is estimated at around 24 trillion won ($17.3 billion). Along with the mega project, the summit is expected to cover to
Aug. 25, 2024
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[Test Drive] Audi's A7 PHEV, an all-around beauty
The popularity of hybrid vehicles has been gaining steam in South Korea as the country is still in an early phase of adapting electric vehicles. Audi’s A7 55 TFSI e quattro Premium, an upgraded plug-in hybrid vehicle, offers an ideal choice for drivers seeking comfortable city driving on electricity and sporty maneuvering on highways. Measuring at a length of 4,975 millimeters, a wheelbase of 2,926 mm, a width of 1,910 mm and a height of 1,425 mm, the A7 PHEV looks longer, wider and lower
Aug. 25, 2024
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Hyundai Steel's low-emission plate push gains momentum
Hyundai Steel, Korea’s second-largest steelmaker, is moving to target the global low-emission steel market amid increasing demand from carmakers moving toward net zero emissions. Hyundai Steel recently signed a memorandum of understanding to supply low-emission steel plates to Tawesco, a leading Czech auto parts manufacturer, and Eusider, an Italian firm specializing in automotive steel plate processing. Both companies supply major European automakers, such as Volkswagen and Stellantis, an
Aug. 25, 2024
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Samsung Electro-Mechanics to boost sales of high-end chip substrates
Samsung Electro-Mechanics, the electronic parts manufacturing affiliate of Samsung Electronics, said Sunday it will ramp up the sales portion of high-end flip chip ball grid array (FCBGA) substrates for servers and artificial intelligence to over 50 percent by 2026. FCBGA is a semiconductor package substrate applied to high-performance semiconductors, such as central processing units and graphic processing units for servers and PCs. It can be used in various applications requiring high-performan
Aug. 25, 2024
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Korea's 'value-up' efforts stall on 0.7% corporate participation
Nearly three months after the government launched the "Corporate Value-up Program" in May, participation by South Korean companies remains minimal. As of Friday, just eight companies had released value enhancement disclosures, representing a mere 0.3 percent of the 2,585 firms listed on the Kospi and Kosdaq, according to Korea Exchange data. Including the 10 firms that have preannounced disclosures, just 0.7 percent have joined the program. The "value-up" initiative, rolled o
Aug. 25, 2024
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[Advertorial] Eximbank, LS Cable to bolster supply chain for rare-earth magnets
The state-run Export-Import Bank of Korea, or Eximbank, on Friday signed a business agreement with the nation's leading cable manufacturer, LS Cable & System, and its Asia-focused subsidiary, LS Eco Energy, to support building a stable supply chain for rare-earth permanent magnets, a key component for electric vehicles and turbines. Under the agreement, the three parties will share business information related to rare-earth permanent magnets and other electric drive system projects and
Aug. 25, 2024
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Renault Grand Koleos boasts extensive safety features
Renault Korea’s Grand Koleos stands out as a mid-size hybrid sport utility vehicle with extensive safety features, including numerous advanced driving assistance systems and high-strength materials. This vehicle has gained attention in the Korean market since its June debut, particularly for its robust safety features, which have become increasingly important to consumers amidst rising concerns over road safety. The Grand Koleos comes in three trims: Techno, Iconic and Esprit Alpine. Even
Aug. 25, 2024
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Samsung, LG to unveil new AI-powered home appliances at IFA 2024 in Berlin
South Korean tech giants Samsung Electronics Co. and LG Electronics Inc. are planning to showcase various new artificial intelligence-powered home appliances at the IFA 2024 home electronics show in Berlin next month, industry sources said Sunday. Samsung will present a range of products, including the Bespoke AI Combo, an all-in-one washer-dryer; the Bespoke AI Family Hub, a premium refrigerator product; and the Bespoke AI Steam, a new robot vacuum cleaner product. The company will also showcas
Aug. 25, 2024
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National, household debt surpasses 3,000 tr won amid lower state revenue
The combined debt of the government and households in South Korea has surpassed 3,000 trillion won ($2.26 trillion) for the first time, driven by lower tax revenue, increased bond issuance and aggressive borrowing from households for real estate investments, government data showed Sunday. According to data from the finance ministry and the central bank, the country's combined national debt and household debt reached a record 3,042 trillion won as of the end of the second quarter. This amoun
Aug. 25, 2024
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Seoul shares snap 3-day rise ahead of Fed chief's speech
South Korean stocks ended slightly lower Friday, snapping three consecutive sessions of gains, as investors sat on the sidelines ahead of Federal Reserve Chair Jerome Powell speech later in the day. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Indexfell 5.98 points, or 0.22 percent, to close at 2,701.69. Trade volume was moderate at 324 million shares worth 8.1 trillion won ($6.05 billion), with gainers outnumbering losers 429 to 428. Foreigners sold a
Aug. 23, 2024
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Korea's private consumption to pick up after H2: BOK
South Korea’s domestic consumption is expected to recover gradually after the latter half of this year, but an aging population and sluggish self-employed businesses could dampen the rebound hope, the country’s central bank said Friday. The Bank of Korea said that the recovery of private consumption remains delayed as the debt repayment burden has risen due to high prices and interest rates in a report analyzing the current economic situation. It said deferral in corporate performa
Aug. 23, 2024
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[Photo News] Art meets high-tech at Samsung’s TV exhibition
Samsung Electronics kicked off an exhibition Friday that features a 10-meter art wall displaying contemporary works of art on its QLED TVs. "Bazaar Exhibition: Under/Stand with Samsung The Frame" is a collaborative event the tech giant is hosting in partnership with the fashion magazine Harper’s Bazaar. The show will run at Process Itaewon in Seoul through Sep. 14. The exhibition suggests new ways of enjoying artwork through The Frame, Samsung's lifestyle series mid-range QL
Aug. 23, 2024
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Hanwha Aerospace opens 1st overseas plant in Australia
Hanwha Aerospace announced Friday that it has completed the construction of the Hanwha Armored Vehicle Centre of Excellence, or H-ACE in Geelong, Australia, signifying the first overseas production foothold for a Korean defense company. “This facility represents Hanwha's commitment to Geelong, Victoria and Australia, demonstrating that the company is focused on the future of programs in this region, including howitzers, vehicles and other technological advancements beyond our current
Aug. 23, 2024
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Hanwha heir makes W54.4b tender offer for Galleria shares
Kim Dong-sun, the youngest heir of Hanwha Group and vice president of Hanwha Galleria, has initiated a public tender offer to increase his control over the retail subsidiary. According to a regulatory filing released Friday, Kim has offered to purchase 34 million shares, representing 17.54 percent of Hanwha Galleria, from Aug. 25 to Sept. 11. The offer price is set at 1,600 won ($1.19) per share, a 23 percent premium over the previous day's closing price of 1,303 won. The filing noted that
Aug. 23, 2024
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Sung Kim to receive US diplomatic award
Sung Kim, a former United States ambassador to South Korea and currently an adviser for Hyundai Motor Group, has been chosen as this year’s recipient of the National Committee on American Foreign Policy’s George F. Kennan Award for Distinguished Public Service, the Korean auto conglomerate said Friday. The NCAFP, which was established in 1974 as a think tank for supporting the US government’s diplomatic and foreign policies, underscored that Kim has built an outstanding diploma
Aug. 23, 2024
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Seoul shares open lower ahead of Fed chief's speech
South Korean stocks opened lower Friday after three consecutive sessions of gains as investors cashed in profits ahead of Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium. The benchmark Korea Composite Stock Price Index fell 10.91 points, or 0.4 percent, to 2,696.76 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.43 percent lower, with the S&P 500 falling 0.89 percent. The tech-heavy Nasdaq composite decreased 1.67 perce
Aug. 23, 2024
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Seomjae applies for patents for AI-based learning system
Seomjae, a Seoul-based education solutions developer, announced Thursday that the company applied for three patents for its AI-based learning system earlier this month. One of the patents is an AI technology that automatically analyzes and summarizes online lectures and captures lecturers’ characteristics using a neural network system. The technology can offer personalized data to its users by systematically summarizing lecture content and carrying out an in-depth analysis of the lecturers
Aug. 22, 2024