Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Tensions heighten ahead of first president-opposition chief meeting
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Seoul to provide housing subsidy to married couples with newborns
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Rapper jailed after public street fight with another rapper
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[KH Explains] No more 'Michael' at Kakao Games
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Woman gets suspended term for injuring boyfriend with knife
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Med schools expect 1,500+ new admission slots next year
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[Weekender] How DDP emerged as an icon of Seoul
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Top US envoy notes 'full commitment' to economic ties with S. Korea amid IRA concerns
The United States remains "fully committed" to enhancing the economic partnership with South Korea and open to talks as close allies, the top US envoy to Seoul said Thursday, amid mounting concerns over the new US law on electric vehicles (EVs) that Korea has called discriminatory. The South Korean government and industries have raised serious concerns over the US Inflation Reduction Act (IRA), which calls for giving tax credits to EV buyers only if the cars were assembled in North Ame
Oct. 20, 2022
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LG Energy Solution signs battery material supply deal with Australian producer
South Korean battery maker LG Energy Solution Ltd. (LGES) said Thursday it has signed a non-binding supply agreement with an Australian partner for a key mineral used in lithium-ion batteries. Under the memorandum of understanding with Syrah Resources Ltd., the Australian company will provide 2,000 tons of natural graphite anode material to LGES, starting in 2025, and gradually expand the supply over the years, the Seoul-based company said in a release. The two companies plan to sign the binding
Oct. 20, 2022
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[KH Biz Forum] Metaverse will include telepathy, future prediciting, says Ethereum founding member
The future of the metaverse will include telepathy, predicting the future and hyper learning, Ethereum Foundation founding member and CEO of the metaverse-building platform MetaMetaverse Joel Dietz said Wednesday at the Korea Herald Biz Forum held at the Four Seasons Hotel Seoul. “I am going to make some bold claims,” Dietz said as he introduced three of his futurist visions of the metaverse. Dietz said that as the metaverse becomes more prevalent, people will begin to shift toward a
Oct. 19, 2022
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[KH Biz Forum] Lessons from COVID-19 pandemic and the way forward
The COVID-19 pandemic has marked a turning point in the history of vaccine development, two top experts told The Korea Herald Biz Forum held in Seoul on Wednesday. Speaking at a special session titled “Technology for cure,” Moderna co-founder Robert Langer and International Vaccine Institute Director-General Dr. Jerome Kim shared their thoughts on how the global health crisis led to major advances in vaccine technology and what lessons humanity learned from it. The session was mode
Oct. 19, 2022
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[KH Biz Forum] Technology to empower humanity in new digital age
Advanced technologies empower humanity in the long run because they lead to greater freedoms to shape identity, reduce labor and fight diseases, as blockchain, artificial intelligence, robots and mRNA vaccines deliver the means to enhance life in the digital age, experts said Wednesday. “We need a new social contract for the digital age,” keynote speaker Don Tapscott, executive chairman of the Toronto-based Blockchain Research Institute, said at The Korea Herald Biz Forum held at the
Oct. 19, 2022
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[KH Biz Forum] 'Web 3.0 to change the way people live'
The world is shifting toward a world of Web 3.0, the emerging blockchain-based platform, and the new era will drastically change the way people live, according to chairman of BOSagora Foundation Kim In-hwan, who spoke at The Korea Herald Biz Forum held at Four Seasons Seoul on Wednesday. As Web 3.0 moves away from having a central authority that governs the operations of the web, it will utilize its blockchain-based decentralized structure to strengthen individuals' ownership rights over their c
Oct. 19, 2022
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Posco chief elected as chairman of World Steel Association
South Korean steelmaker Posco Group Chairman Choi Jung-woo has been elected to lead the world’s largest steelmakers’ association, the company said Wednesday. At the association’s general meeting held Tuesday in Brussels, Choi became its 44th chairman, and India’s Jindal Steel Works Chairman Sajjan Jindal and US’ Nucor CEO Leon Topalian will support Choi as vice chairmen. Choi's one-year term began Tuesday. He had served as vice chairman for a full year . Choi h
Oct. 19, 2022
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[KH Biz Forum] Brace for second era of the digital age: Don Tapscott
Humanity is entering a second era of the digital age, with the rise of new technologies such as blockchain and the virtual world. In its transition, new leaders will emerge, which could include South Korea, renowned tech visionary Don Tapscott said. “There’s no reason why one of the global centers can’t be Korea,” Tapscott, the executive chairman of Toronto-based Blockchain Research Institute, said Wednesday in Seoul pointing to this Asian country’s strength in rel
Oct. 19, 2022
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[KH Biz Forum] Naver’s AI evolving to eliminate care blind spots
Tech giant Naver is delving deeper into artificial intelligence with its supersized HyperClova platform trained in the Korean language, and hopes to use the technology to connect to users on a deeper level to identify their needs, said a ranking executive leading the development. Portraying how society would be a much warmer place for the elderly and those with health conditions with advanced AI, Naver Clova CIC Executive Officer Sung Nako introduced the firm’s voice AI-powered services,
Oct. 19, 2022
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[KH Biz Forum] Rainbow Robotics CEO sees future of robots in our everyday lives
Recently, the country’s service sector has increasingly adopted robots -- from simple coffee making to using robotic systems for dental implant surgery, even opticians use robots for 3D scanning and making personalized glasses frames. In the near future, these machines will be applied to various sectors beyond the manufacturing and service industries, according to Rainbow Robotics CEO Lee Jung-ho, who spoke at The Korea Herald Biz Forum held at Four Seasons Hotel, Wednesday. Showcasing t
Oct. 19, 2022
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[KH Biz Forum] SoftBank-backed Qraft highlights AI's role in stock investing
SoftBank-backed South Korean financial technology startup Qraft Technologies highlighted the role of artificial intelligence in equity asset allocation, as AI plays a complementary role to boost productivity and efficiency of human's tasks. An AI engine can pursue above-average returns with the capability to analyze massive amounts of financial data and discover relationships that humans hardly find, according to Qraft Technologies Chief Product Officer Alan Jo at The Korea Herald Biz Forum
Oct. 19, 2022
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[KH Biz Forum] Virtual human aims to go beyond human: Locus-X CEO
Virtual humans, or digital representations of human beings, have already started to take over human jobs, and are now on their way to strengthen their presence in the virtual world, according to Locus-X CEO Baek Seung-yeop. “In the early stages of virtual humans, they tried to be more ‘human-like.’ But now, they aim to go ‘beyond human’ and show great potential in the virtual world,” said Baek during his speech at The Korea Herald Biz Forum 2022 held at the
Oct. 19, 2022
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[KH Biz Forum] 'Science communicator’ underscores human connection
Mammals survived because their social ability to get information from other beings evolved. An animal cub may not know that a volcano has erupted, but once it sees other animals run in fear, it feels their fear and knows that it has to run with them to survive. Human children start to acquire social intelligence by reading non-linguistic signs such as other humans’ facial expressions, gestures and actions, in addition to learning language. Human brains have the ability to understand and em
Oct. 19, 2022
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Kakao's co-CEO offers to resign over massive service disruption
A top executive of Kakao Corp. offered to step down Wednesday to take responsibility for the recent disruption of the company's mobile messenger KakaoTalk and other related services. The announcement by Kakao's co-CEO Namkoong Whon came as Kakao services, ranging from KakaoTalk to online banking and ride-hailing services, have resumed complete operation. Earlier in the day, SK C&C, which hosts Kakao's data servers, started to fully supply electric power to Kakao's disrupt
Oct. 19, 2022
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GM Korea targets turnaround in 2023 with focus on exports
CHANGWON -- General Motors Co. said Wednesday it is targeting to transform its South Korean operations into a "profitable and sustainable business" next year by increasing exports of next-generation vehicles. GM Korea Co. reported net losses for eight consecutive years through 2021 and expects losses to narrow further this year. To help achieve a turnaround, GM Korea plans to produce a next-generation crossover utility vehicle (CUV) model in its Changwon plant, about 300 kilometers sou
Oct. 19, 2022
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S. Korea seeks reform of shipbuilding industry's labor structure
South Korea plans to seek a structural change in the labor market of its shipbuilding industry, the finance ministry said Wednesday, amid growing criticism over shipbuilders taking advantage of subcontractors. "Recently, the overall conditions for our shipbuilding industry have been improving, with the number of orders rising following the recovery of the global shipbuilding market, coupled with higher prices," Finance Minister Choo Kyung-ho said during a meeting with economy-related m
Oct. 19, 2022
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Posco Holdings Q3 operating profit down 71% on typhoon damage
POSCO Holdings Inc., the holding firm of South Korea's top steelmaker POSCO, on Wednesday said that its third-quarter operating profit dropped 71 percent as some of its steel-processing facilities remain shuttered after a typhoon. Its operating income stood at 900 billion won ($633 million) in the July-September period, compared with an operating profit of 3.1 trillion won a year earlier, the company said in a regulatory filing. The operating profit was 17.8 percent lower than the average estima
Oct. 19, 2022
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Seoul shares open nearly flat amid earnings season
South Korean stocks opened nearly flat Wednesday as investors took to the sidelines amid earnings reports and woes over aggressive rate hikes. The benchmark Korea Composite Stock Price Index (KOSPI) had inched up 0.49 points, or 0.02 percent, to 2,250.44 points as of 9:20 a.m. Auto and steel companies advanced, while chemical and financial shares declined. Market bellwether Samsung Electronics traded flat, and chip giant SK hynix lost 1.67 percent. Top automaker Hyundai Motor added 0.3 percent,
Oct. 19, 2022
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SK C&C says it has completed power supply to Kakao servers
SK C&C, which hosts a data center for Kakao Corp., said Wednesday it has started to fully supply electric power to the tech firm's disrupted servers, a move that could lead to a full normalization of Kakao services. "The power supply rate reached 100 percent at around 5 a.m.," an SK C&C official said. A fire at Kakao's data center near Seoul on Saturday caused the worst server outage ever for South Korea's dominant messenger and its internet portal Daum. The fire
Oct. 19, 2022
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LG Group chief visits joint EV battery plant in Ohio
LG Group Chairman Koo Kwang-mo visited a joint venture between the group‘s battery making affiliate and U.S. carmaker General Motors Co. in Ohio, industrial sources said Tuesday. Koo has recently toured the No. 1 plant of Ultium Cells LLC, a joint venture between GM and LG Energy Solution Ltd. that hived off from LG Chem last year, according to the sources. Ultium Cells’ No. 1 plant is set to produce EV batteries during the second half of the year, with two more plants under c
Oct. 18, 2022