Most Popular
-
1
Exports to US reach all-time high, widen gap with China
-
2
Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
-
3
[Music in drama] Rekindle a love that slipped through your fingers
-
4
S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
-
5
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
6
[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
-
7
Seoul Metro to seek legal action against malicious complaints
-
8
Illit, mired in controversy, remains on Billboard charts for 5th week
-
9
On May Day, labor unions blast Yoon's foreign nanny proposal
-
10
[KH Explains] Will alternative trading platform shake up Korean stock market?
-
LG CNS named top partner for AWS
LG Group’s IT solutions unit LG CNS said Tuesday it has been named as a Premier Tier Partner for US cloud giant Amazon Web Services, a recognition given to the most experienced partners representing their respective markets. AWS offers tiers – select, advanced and premier – to recognize its partners that have proven technical expertise and demonstrated customer experience and the highest premier tier is offered to leaders in their markets in terms of the number of clients and
June 14, 2022
-
SK Innovation invests in US ammonia fuel cell firm
SK Innovation said on Tuesday it is investing $30 million in a US ammonia-based fuel cell startup for technological cooperation as it taps into new businesses to establish a “green portfolio.” SK Innovation and Amogy signed a memorandum of understanding on Sunday in San Jose, California, to work together to develop ammonia-based fuel cell system technology and expand markets. Founded in 2020 by four MIT Ph.D. alumni, Amogy focuses on research and development to produce compact ammo
June 14, 2022
-
ICT exports up 14% in May on solid demand for chips, displays
South Korea's exports of information and communication technology (ICT) products rose 13.9 percent in May from a year earlier on brisk overseas demand for chips and displays, data showed Tuesday. Outbound shipments of ICT products came to $20.2 billion last month, up from $17.73 billion a year earlier, according to the data compiled by the Ministry of Science and ICT. It marked the highest-ever tally for May since the government began compiling related data in 1996. The country has seen dou
June 14, 2022
-
Air Busan to expand international routes in July
Air Busan Co., a budget carrier unit of Asiana Airlines Inc., said Tuesday it will open more international flight routes next month in response to eased travel restrictions. In July, Air Busan will newly open three international routes -- Busan-Nah Trang, Incheon-Da Nang, and Incheon-Fukuoka routes -- and reopen the previously suspended five routes from Busan to Ulan Bator, Osaka, Sapporo, Cebu, and Kota Kinabalu of Malaysia, the company said in a statement. The carrier aims to operate a total o
June 14, 2022
-
Samsung plans to relocate workers of now-closed TV LCD biz to chip unit
Samsung Electronics Co. plans to move around 300 workers from its display business' liquid crystal display (LCD) division to the company's semiconductor unit, sources said Tuesday. The plan comes after Samsung Display, a unit of the tech giant, stopped producing LCD panels for TVs this month due to falling prices, and a supply glut due to competition from Chinese panel makers. Samsung Display has scaled down its TV LCD business since mid-2010. In 2020, the panel maker said it would end
June 14, 2022
-
BOK ready to take measures amid market turmoil
South Korea's central bank said Tuesday it plans to "actively" take steps to stabilize the financial market hit hard by fears about the Federal Reserve's more aggressive rate hikes than previously thought. Global financial markets have been roiled this week amid the growing prospect that the Fed may hike interest rates by a larger-than-expected margin of 0.75 percentage point this week to tame high-flying inflation. "As volatility in South Korea's financial markets is expected to
June 14, 2022
-
LG Energy Solution shares through eco-friendly projects
LG Energy Solution has continued to use its eco-friendly projects to enact positive social change. In late 2020, the company completed the construction of its 410-kilowatt solar power plant in Cheongju, North Chungcheong Province. The profit from this plant is expected to be 40 million won ($31,000), which the company plans to donate to underprivileged people in the region LG Energy Solution’s team of volunteers at its Ochang plant run a Twin Angel Fund to help those in financial need. S
June 14, 2022
-
Seoul shares open lower on rate hikes, recession woes
Seoul shares got off to a weak start Tuesday, tracking a sharp plunge on Wall Street, on concerns over more aggressive monetary tightening by the United States to tame inflation and its impact on global economic growth. The Korea Composite Stock Price Index (KOSPI) fell 22.72 points, or 0.91 percent, to 2,481.79 points in the first 15 minutes of trading. On Monday, the index dipped to a 19-month low amid growing woes over sharper-than-expected rate hikes Overnight, US shares plunged ahead of the
June 14, 2022
-
Yoon skips hearing session, appoints new tax chief
President Yoon Suk-yeol on Monday appointed Kim Chang-ki, former head of the tax agency in Busan, as the new commissioner of the National Tax Service, by skipping a confirmation hearing that had been delayed for days. After nominating Kim for the top tax office on May 13, President Yoon submitted a motion to seek parliamentary approval on appointing a new tax chief three days later. Hearings for Kim and other officials have been delayed with two parties locking horns over who should sit on com
June 13, 2022
-
Kospi hits 19-month low as US inflation skyrockets
South Korea’s benchmark Kospi closed at 2,504.51 Monday, its lowest level since Nov. 13, 2020 when it fell to 2,493.87, as investors priced in a big US rate hike amid a record annual increase in US consumer prices in May. A month earlier, US consumer prices surged 8.6 percent on-year, the largest gain since 1981 on record-high gasoline prices and soaring food costs, fueling bets on a sharper rate hike than the half percentage point raise the US Fed had indicated. The Fed’s two-
June 13, 2022
-
LG Energy Solution unveils W730b EV battery plan
South Korean lithium-ion battery cell maker LG Energy Solution on Monday unveiled a 730 billion won ($567 million) plan to expand production of batteries for electric vehicles here, including the next-generation 4680-type cylindrical batteries, which are bigger than current conventional designs. In an apparent bid to supply to carmakers like US electric vehicle giant Tesla, the company will pour in 581.8 billion won from June 2022 until October 2023 by adding a 9 gigawatt-hour pr
June 13, 2022
-
Manufacturing industry suffers W1.6tr loss from truckers’ strike: ministry
The ongoing strike by unionized cargo truckers which began last week appears to have caused at least 1.6 trillion won ($1.2 billion) in losses, the Industry Ministry said on Monday. Carmakers may have seen some 257 billion won in losses as the sit-in protest paralyzed supply deliveries, preventing 5,400 vehicles from being produced. The estimated losses were calculated by setting the price of a sedan at 47 million won. The steel industry has estimated its losses at 697 billion won for the las
June 13, 2022
-
[Photo News] Meet Torres
A promotional image unveils the entire exterior of SsangYong Motor's new mid-sized SUV Torres. Under the brand slogan, “Adventurous,” the SUV maker mixed retro and future-oriented design elements while securing a large cargo space of up to 703 liters, capable of storing four caddie bags and more. Other technological features like Lane Keeping Assist and Forward Collision Warning have been added as standard options. The price ranges between 26.9 million won and 30.4 million wo
June 13, 2022
-
Lee Jae-yong regaining appetite for batteries?
Samsung Electronics Vice Chairman Lee Jae-yong reportedly met with BMW Group Chairman Olive Zipse last week in Germany in an apparent move to renew his commitment to Samsung’s electric vehicle battery business, as well as its long-held partnership with the luxury carmaker. According to news reports Monday, the Samsung chief’s first stop of his two-week Europe trip that began last Tuesday was Germany. And he held a meeting with the BMW chief at the carmaker’s Munich headquarte
June 13, 2022
-
Rate hike fears send Seoul stocks to 19-month low; Korean won sharply dips
South Korean stocks crashed to a 19-month low Monday as high inflation sparked fears of a potential aggressive monetary tightening in the US and a slowdown in global economic growth. The local currency fell sharply against the US dollar. The Korea Composite Stock Price Index (KOSPI) lost 91.36 points, or 3.52 percent, to close at 2,504.51, extending losses for the fifth consecutive session. It is the lowest figure since November 13, 2020, when the KOSPI closed at 2,493,97 points. Trading volume
June 13, 2022
-
Trade deficit hits $5.6b on decline in exports
SEJONG -- South Korea’s trade deficit, posted over the past five months on a cumulative basis, expanded during the first 10 days of June due to a decline in exports as well as a spike in import prices of raw materials including crude. The nation’s exports fell more than 12 percent during the June 1-10 period, compared to the same period of 2021, while imports increased by more than 17 percent, state data showed Monday. Korea recorded a trade deficit of $5.59 billion for the first 1
June 13, 2022
-
Food packages get smaller for customers weary of inflation
Amid price hikes and rising food bills, retailers in South Korea have come up with a new marketing strategy to keep customers satisfied. Convenience store chain CU has launched packages of vegetables, meat and fruit that are smaller and less expensive than the ones they usually sell. The store chain also offers packaged Korean pork belly, jowl meat, false lean, and flat iron steak in 200-gram packages. The company said it has cut margins by directly purchasing vegetables from distribution cen
June 13, 2022
-
[Newsmaker] [Herald Interview] ‘Even in bearish market, K-pop-themed ETF will shine’
Unlike stocks, it is rare for an investment like an exchange-traded fund (ETF) to draw global attention. But KPOP ETF went viral in April when plans for the fund hit the news, reflecting the popularity of one of South Korea’s most high-profile exports. The orchestrator behind the ETF -- set to debut in the US market on July 5 – is Seoul-based intellectual property mogul, and Contents Technologies CEO, Lee Jang-won who recently sat down with The Korea Herald to discuss whether the K
June 13, 2022
-
AMD’s next-gen server CPU standard signals ties with Samsung
The latest announcement of US logic chip designer Advanced Micro Devices’ next-generational processor standard for data center servers indicates that a collaboration with South Korean tech giant Samsung Electronics is imminent. This comes as AMD’s chip architecture in the making is to be compatible with the groundbreaking Samsung-backed memory standard Compute Express Link, in order for the chip platform to go full throttle. AMD hinted at heterogeneous computing by opening up to in
June 13, 2022
-
Samsung Biologics boasts top-tier production capacity at BIO International
SAN DIEGO -- Samsung Biologics is showcasing its top-tier production capacities at the world’s largest biopharmaceutical exhibition, the South Korean company said Monday. Taking part in the BIO International Convention for the 10th consecutive year, Samsung Biologics has set up a sizable 140-square-meter booth to represent its world-leading production capacity as one of the largest contract and manufacturing organization businesses across the globe. According to Samsung Biologics, the
June 13, 2022