Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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Experts say hydrogen ecosystem is global task to cooperate
Business leaders and experts gathered in Goyang, Gyeonggi Province on Friday to discuss ways to create a globally connected hydrogen ecosystem amid growing geographical uncertainties stemming from Russia's attack on Ukraine and worsening climate change. Jeong Marn-ki, president and CEO of the Korea Automobile Manufacture Association, called hydrogen a carbon-free alternative to fossil fuels at the International H2 Conference. Hydrogen can prevent such uncertainties in the future, but its commer
Sept. 2, 2022
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Coway showcases its newest air purifiers at IFA
Coway is showcasing its latest lineup of air and water purifiers at Europe’s largest home appliances tech show IFA 2022, the South Korean company said Friday. Coway’s on-display products at the event’s exhibition booth in Berlin include 14 air purifiers and eight water purifiers with the newest air purifiers Coway Airmega taking the spotlight. “The Coway Airmega range is consistently recognized as the best-in-class, earning status as an Amazon USA top air purifier brand
Sept. 2, 2022
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Inflation decelerates in August, but risks persist
SEJONG -- The growth in the nation's consumer prices somewhat decelerated last month after continuously expanding for six consecutive months from February-July. But the inflation still remained at a critically high level, state data showed Friday. According to Statistics Korea, consumer prices climbed by 5.7 percent in August on-year amid ongoing global inflationary pressure, which has been causing high raw material prices. It marked the first slowed growth in seven months after the inflation
Sept. 2, 2022
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Irreversible climate changes expected even with decreased greenhouse gas: study
A group of researchers at Yonsei University have found that even if the concentration level of greenhouse gases in the atmosphere is reduced to that of the pre-industrial era, it will be difficult to restore the climate’s condition to its original state. According to Yonsei University on Friday, an in-house research team led by atmospheric sciences professor An Soon-il developed the world’s first climate recovery map, which is designed to illustrate possible improvements in global s
Sept. 2, 2022
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Seoul city pushes for cab fare raise
Seoul’s city council said Friday it has received plans from the city government to raise taxi fares. The draft document, “Proposal for Opinion Hearing on the Taxi Fare Adjustment Plan for Resolving Late-Night Ride Difficulties," outlines the city's proposal to increase basic cab fares from the current 3,800 won ($2.80) for the first 2 kilometers to 4,800 won for 1.6 kilometers. According to the outline of the plan, the basic fare of Seoul cabs would increase 26.3 percent, and
Sept. 2, 2022
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Daesang to open Polish branch as strategic base for European expansion
South Korean food company Daesang, famous for its Jongga kimchi brand, has launched a branch in Poland as a strategic European base to expand its business in the region. The Polish branch, established in Warsaw, is Daesang's second office in Europe since 1994, when it opened an office in the Netherlands. Daesang said that it has decided to expand its business in Europe amid growing interest in Korean food worldwide. Daesang currently operates in 21 countries including the US, China, Japan, Ind
Sept. 2, 2022
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Samsung's new foldables get warm reception in Europe
South Korean tech giant Samsung Electronics announced Friday that sales and shipments of its newest foldable phones have significantly increased in Europe compared with their predecessors in the first week since the release. The latest additions to Samsung's foldable lineup -- the clamshell-type Galaxy Z Flip4 and book-type Galaxy Z Fold4 -- saw all-time high sales among all foldable types in Europe, Samsung said, without disclosing the figure. Sales of the Z Flip4 and Z Fold4 began on Aug
Sept. 2, 2022
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Samsung CEO hints at joining RE100 ‘soon’
BERLIN – Samsung Electronics co-CEO Han Jong-hee on Thursday hinted that the South Korean tech giant will unveil a new sustainable growth strategy soon, possibly its delayed decision to join the RE100 global initiative. “We will announce a clearer goal that is also achievable,” he said at a press conference in Berlin held on the sidelines of the IFA trade show that kicks off Friday. The RE100 initiative sets a 2050 target for using 100 percent renewable electricity. Samsung's
Sept. 2, 2022
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Consumer prices grow at slower pace in Aug. amid falling oil prices
South Korea's consumer prices grew at a slower in August after running at a 24-year high the previous month as global oil prices slid, data showed Friday, in a sign that high inflation may have peaked. But inflationary pressure still remains high, given volatility in oil prices and a weaker won, fanning expectations that the central bank will likely further raise the policy rate. Consumer prices, a key gauge of inflation, jumped 5.7 percent last month from a year earlier, slowing from a 6.3 perc
Sept. 2, 2022
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Hyundai, Kia's Aug. US sales rise 18% despite chip shortage
Hyundai Motor Co. and its affiliate Kia Corp. said Friday their combined sales in the United States rose 18 percent last month from a year earlier despite the prolonged global chip shortage. Hyundai and Kia sold 130,424 vehicles in the world's most important automobile market in August, up from 110,209 units a year ago, according to the companies' sales data. Hyundai's sales climbed 14 percent to 64,335 units last month from 56,200 a year ago, while Kia's jumped 22 percent to
Sept. 2, 2022
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Seoul shares open higher on dip-buying
South Korean opened higher Friday, following a big drop in the previous session, amid lingering concerns over the US rate hikes and a global economic slowdown. The benchmark Korea Composite Stock Price Index (KOSPI) added 8.02 points, or 0.33 percent, to trade at 2,423.63 points as of 9:15 a.m. The index tumbled more than 2 percent Thursday, as investors were worried about the US Federal Reserve's aggressive monetary tightening to tame inflation. Overnight, US shares ended mixed. The Dow Jo
Sept. 2, 2022
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Samsung bets big on home connectivity
BERLIN – Samsung Electronics is betting big on its SmartThings smart home platform, declaring that a connected home is now a reality that creates new value for users. “This year will mark the beginning of mass adoption of SmartThings,” said Han Jong-hee, Samsung's co-CEO who oversees the smartphone and home appliance businesses at a press conference held on the sidelines of the IFA trade show that kicks off in Berlin on Friday. The SmartThings platform aims to connect not ju
Sept. 2, 2022
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LG debuts chameleon refrigerator that changes color
BERLIN/SEOUL – LG Electronics on Thursday debuted the world’s first refrigerator that changes color at the touch of a smartphone button ahead of the IFA trade show that kicks off Friday in Berlin. The chameleon four-door fridge MoodUp is a newest addition to LG’s high-end Objet Collection. The self-illuminating doors use light sources from light-emitting diodes. Users can choose one among some 170,000 color combinations, based on the 22 color options for top doors and 19 choi
Sept. 1, 2022
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IFA 2022: What to expect from Samsung, LG
BERLIN -- IFA, Europe’s biggest tech show, is being held in person again after two years of pandemic disruptions, with South Korean tech rivals Samsung Electronics and LG Electronics among the largest exhibitors. The annual gathering will kick off in Berlin on Friday for a five-day run. After years of virtual business meetings and product launches, there may be skepticism about attending a giant face-to-face business event in this enduring pandemic era. But the IFA is ready to host more
Sept. 1, 2022
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LG Innotek updates website as part of digital marketing scheme
Electronic components manufacturer LG Innotek said Thursday it has restructured its website to improve consumer experience and to maximize customer satisfaction. Visitors to the website can experience diverse contents ranging from technology, products, and recruitment information. Customers can subscribe to the company newsletter and may leave any questions they have about the company and its products. The most notable addition, according to the company, is the website’s new virtual show
Sept. 1, 2022
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Posco, India’s Greenko to work together on hydrogen business
Posco Holdings said Thursday that it has clinched a deal with India’s second-largest renewable energy company Greenko to cooperate in green hydrogen and ammonia production in India, as part of the steelmaker’s push toward eco-friendly energy business. Green hydrogen refers to hydrogen generated by renewable energy or from low-carbon power. It has significantly lower carbon emissions than grey hydrogen, which is produced by steam reforming of natural gas. Green ammonia, a clean fuel
Sept. 1, 2022
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Red flag raised as Korea suffers all-time high trade deficit
SEJONG/SEOUL -- South Korea recorded an all-time high trade deficit last month in the wake of skyrocketing import prices of raw materials and relatively low export growth, raising a red flag for Asia’s fourth-largest economy, which is heavily dependent on exports for its growth. According to the Ministry of Trade, Industry and Energy, the nation’s imports increased by 28.2 percent on-year to $66.14 billion in August, while exports increased by just 6.6 percent to $56.67 billion. Th
Sept. 1, 2022
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Seoul stocks dip over 2% on US rate hike woes; Korean won at 13-year low
South Korean stocks fell more than 2 percent Thursday on deepening concerns over aggressive rate hikes by the US Federal Reserve. The Korean won slid to a 13-year low against the US dollar. The Korea Composite Stock Price Index (KOSPI) lost 56.44 points, or 2.28 percent, to close at 2,415.61. Trading volume was moderate at 563.43 million shares worth 8.15 trillion won ($6.12 billion), with decliners outpacing gainers 827 to 78. Institutions and foreigners shed shares worth 833.69 billion won and
Sept. 1, 2022
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SK ecoplant invests $50m in US battery recycling firm
SK ecoplant, the engineering and construction unit under SK Group, said Thursday that it has clinched a $50 million deal to become the largest shareholder of US battery materials recycling firm Ascend Elements. The latest share purchase is part of SK ecoplant’s investments to foray into North American and European markets, according to the company. Established in 2015 in Massachusetts, Ascend Elements is a manufacturer of advanced battery materials using elements reclaimed from discarde
Sept. 1, 2022
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[Newsmaker] New jobs for tycoons’ Samsung, SK chiefs to promote Busan Expo
South Korea’s two most influential business leaders -- Samsung Electronics Vice Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won -- are set to take a rather public role in promoting the country’s bid to host the 2030 World Expo in Busan. According to local reports quoting a source at the presidential office, Lee and Chey will be named presidential envoys for Korea’s World Expo bid and that they are set to visit the UK and Japan, respectively, in their new roles. Lee
Sept. 1, 2022