Most Popular
-
1
[Grace Kao] American racism against Stray Kids
-
2
Key S. Korean, USFK special operations officials to hold rare meeting amid NK threats
-
3
Jennie, Stray Kids's Met Gala attendance puts them on 'digital guillotine' blacklist
-
4
Controversy brews over shakeup of prosecutors amid probe of first lady
-
5
OpenAI gives ChatGPT new powers to see, hear
-
6
Another suspect behind murder of Korean tourist in Pattaya arrested in Cambodia
-
7
[KH Explains] Naver’s Line dilemma: Lose global footing for cash?
-
8
S. Korea to inject $70m into AI-powered public education
-
9
[Herald Interview] Carbon breakthrough in Korea: Making diamonds at atmospheric pressure
-
10
Korean industries gauge impact of Biden's steep tariffs on China
-
Kolon Group unveils hydrogen vision under ‘Kolon H2 Platform’
Fashion-to-energy conglomerate Kolon Group said Wednesday that its pick of hydrogen fuel cell energy as the group’s core business for the future will expand under its unique, one-stop service platform for hydrogen business with an aim to become the industry’s major supplier. As part of the “Kolon H2 Platform,” the group plans to expand and renovate the current hydrogen business that involves mass production of polymer electrolyte membranes -- a core material requi
July 6, 2022
-
LG Innotek to invest W1.4tr to beef up production
LG Innotek said Wednesday that it is investing a total of 1.4 trillion won ($1.07 billion) into its local production facilities by 2023 to beef up the production of circuit substrates and camera modules – its key growth drivers. The company signed a memorandum of understanding for the new investment with the local governments of North Gyeongsang Province and its capital city, Gumi, earlier in the day. The new funding will be used to expand its production facilities in the city, includin
July 6, 2022
-
Convenience store owners want late-night surcharges to offset rising labor costs
Convenience store owners are pushing to impose late-night surcharges on items to offset the expected rise in labor costs from next year’s legal minimum wage increase. In a meeting held Tuesday, the National Convenience Store Franchise Association, which represents store owners, decided to officially demand that convenience store franchises support the idea. Under the proposal, owners would impose a 5 percent surcharge on the price of all items sold at their store from midnight to 6 a.
July 6, 2022
-
Seoul stocks dip to 20-month low on recession fears; Korean won at 13 yr low
South Korean stocks dipped to a 20-month low Wednesday, as bleak data from Europe and a sharp fall in oil prices underscore worries over a global economic recession. The Korean won fell sharply against the US dollar. The Korea Composite Stock Price Index (KOSPI) retreated 49.77 points, or 2.13 percent, to close at 2,292.01, coming below the 2,300 mark for the first time since Oct. 30, 2020. Trading volume was moderate at 400.3 million shares worth 8.53 trillion won ($6.53 billion) with decliners
July 6, 2022
-
[Test Drive] SsangYong’s Torres: Affordable SUV fit for the outdoors
It’s no wonder SsangYong Motor’s Chilean dealers came up with the name Torres when they first saw the carmaker’s new midsize sport utility vehicle. The Torres looks tough enough to navigate through the soaring mountains of the Torres del Paine National Park in Chile’s Patagonia region. Unlike other SUVs of the same size, like Kia’s Sportage and Sorento which look too sophisticated to be driven on harsh road conditions, the Torres looks like it was made for off-roa
July 6, 2022
-
Ruling party leaders call on Yoon to prioritize people’s living conditions
SEJONG -- Political heavyweights from the ruling People Power Party said they would not spare any effort to overcome a variety of economic challenges during a meeting with senior government officials and presidential aides in Seoul on Wednesday. Their meeting comes as the nation’s inflation -- 6 percent in June -- hit its highest point in more than two decades. The country is also grappling with rising interest rates, which are posing a heavy burden on households. Some noteworthy re
July 6, 2022
-
Industry minister stresses nuclear power use to overcome crisis
South Korea should raise export competitiveness and make full use of nuclear power to tide over the global inflation and energy shock, Industry Minister Lee Chang-yang said Wednesday. “The global inflation and the energy price hike have shocked our economy. As Korea is highly dependent on energy imports, we are fully affected by both,” Lee said in a press conference in Sejong. “We need to do two things. We must raise export competitiveness as much as possible, and make full u
July 6, 2022
-
Look up for dinner: Convenience stores race for drone delivery
South Korean convenience stores are testing their service accessibility to remote areas by deploying drones for delivery use to enhance customer experience. Local convenience store chain CU said Wednesday that it has launched a drone delivery service for the first time at CU’s Yeongwol Gongju branch in Gangwon Province. The delivery drone, which weighs 17 kilograms and measures 70 centimeters in height, will carry products from the CU branch to Oasis Glamping, a camping site located som
July 6, 2022
-
Fields Medal winner highlights importance of communication
Korean American mathematician June Huh on Wednesday underlined the importance of communication and collaboration when it comes to solving difficult problems in mathematics, a day after he became the first person of Korean descent to win the internationally prestigious Fields Medal. “The charming point of mathematics is that collaborative research has become very active in today’s mathematics,” Huh said in a press conference at the Korea Institute for Advanced Study in Seoul.
July 6, 2022
-
Hana Bank, Kyung Hee Univ. start philanthropic campaign
Hana Bank, one of the five biggest banks in South Korea, and Kyung Hee University launched a philanthropic campaign Wednesday to ask people to bequeath their fortunes to charity, amid growing awareness of charity pledges leaving behind positive social impact. The bank will help those seeking to put money into philanthropic causes draw up a financial plan in advance while the university will look for potential candidates by offering them programs that show how charitable donations have served th
July 6, 2022
-
Posco Chemical unveils carbon neutrality roadmap
Posco Chemical on Wednesday unveiled a carbon neutrality roadmap for its battery materials business, aiming to meet RE100 standards by around 2035. It aims to replace 100 percent of the electricity it uses for producing cathode and anode materials with eco-friendly sources. But the company said that does not mean that it will join the RE100 club by 2035. The Korean firm aims to complete its energy goal by transforming its current carbon capture, which is a use-and-storage process, by ad
July 6, 2022
-
Coway named among top 50 S. Korean brands
South Korea’s home appliance brand Coway was named one of the “Best Korean Brands 2022” by global management consulting firm Interbrand. Interbrand has announced top 50 Korean brands since 2013. This year’s recognition marks the eighth consecutive year that Coway has been named among 50 best South Korean brands. Coway’s rank, which was placed at 27th last year, jumped up three levels to 24th. Coway’s brand value enjoyed a 5.6 percent year-on-year increase a
July 6, 2022
-
S. Korea recaptures No. 1 shipbuilding nation status in H1
South Korea has captured the No. 1 spot in global shipbuilding orders for the first time in four years on the back of rising demand for high-priced vessels, such as liquefied natural gas (LNG) carriers and container ships, data showed Wednesday. The country's shipbuilders secured a total of 9.79 million compensated gross tons (CGTs) during the January-June period, accounting for 45.5 percent of the orders placed worldwide, the Ministry of Trade, Industry and Energy said, citing data from Cl
July 6, 2022
-
KT invests W30b in S. Korean AI chip startup Rebellions
KT Corp., South Korea's No. 2 mobile carrier, said Wednesday it has invested 30 billion won ($23 million) in Rebellions Inc., a local artificial intelligence (AI) chip startup, to participate in the fast growing field of AI chips. The deal signed Monday marks KT's second strategic investment in the field of AI, following its partnership with Moreh Corp., a South Korean AI infrastructure startup, last year. Founded in 2020, Rebellions has made notable strides within the AI chip market f
July 6, 2022
-
KSOE replaces orders for 3 LNG carriers with higher-priced ones
Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Wednesday it has replaced existing contracts for three liquefied natural gas (LNG) carriers with new ones with a higher price tag amid supply chain disruptions. KSOE, a subholding company of global shipping titan Hyundai Heavy Industries Holdings, said in a regulatory filing that it has inked a 314.1 billion-won ($240 million) contract with an Oceanian-registered shipper to build a LNG carrier, a replacement of the original 198.9 billion-
July 6, 2022
-
Industry chief calls for export growth, nuclear energy use over 'multiple crises'
Industry Minister Lee Chang-yang has vowed measures to strengthen export competitiveness and maximize nuclear energy in the face of major economic challenges over surging inflation and fuel costs. "We are now facing multiple crises, as high inflation and surging energy prices have given a shock to our economy. As we are highly dependent on imports for our energy needs, we are fully feeling the pains," Lee told reporters Tuesday. In June, the country's consumer prices soared 6 percent o
July 6, 2022
-
Seoul shares open lower on recession fears; Korean won sharply down
South Korean stocks got off to a weak start Wednesday, as downbeat data from Europe, coupled with an energy crisis amid Russia's war in Ukraine, amplified fears over a global economic downturn. The Korea Composite Stock Price Index (KOSPI) retreated 27.89 points, or 1.19 percent, to 2,313.89 in the first 15 minutes of trading. The steep decline in euro, Germany's trade deficit in more than three decades, and a drop in oil prices fueled concerns over a global recession, sending the main
July 6, 2022
-
LG Energy Solution to supply EV batteries to Isuzu: report
LG Energy Solution Ltd. (LGES) will supply its electric vehicle batteries to Japanese commercial vehicle maker Isuzu Motors Ltd. in a deal likely amounting to at least 1 trillion won ($762.4 million), a news report said Wednesday. LGES will produce cylindrical batteries for Isuzu's EV version of its flagship mid-to-large Elf trucks for four years starting in 2023, according to the Korea Economic Daily. The supply deal is part of their joint project for the electrification of Isuzu trucks. I
July 6, 2022
-
1st person of Korean descent wins Fields Medal
Korean American mathematician June Huh has won this year’s prestigious Fields Medal to become the first person of Korean descent to receive the prestigious international award. The Fields Medal, widely regarded as the Nobel Prize of mathematics, is given to mathematicians under the age of 40 for significant contributions to the field of mathematics at the International Congress of Mathematicians held every four years. The ICM, organized by the International Mathematical Union, took pla
July 5, 2022
-
Ministry to probe Eastar Jet for false data allegation
The government will investigate Eastar Jet Co. for false accounting data which the local budget carrier submitted to obtain approval to be an international air operator on Dec. 15, said the Ministry of Land, Infrastructure and Transport on Tuesday. Data previously submitted by Eastar Jet showed the company had 236.1 billion won ($181.6 million) in total capital, not reflecting its state of capital erosion. The company was in a state of complete capital erosion in 2021, according to financial s
July 5, 2022