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
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
5
Inflation eases in April, continues bumpy ride
-
6
Seoul Metro to seek legal action against malicious complaints
-
7
Golden chance to liquidate babies’ gold rings?
-
8
[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
-
9
Illit, mired in controversy, remains on Billboard charts for 5th week
-
10
On May Day, labor unions blast Yoon's foreign nanny proposal
-
Yoon’s economic policy direction to be unveiled next week
SEJONG -- The nation’s fiscal chief said Thursday that the Ministry of Economy and Finance will unveil the economic policy direction of the Yoon Suk-yeol administration next week, which highlights a full-fledged deregulation scheme for businesses as well as measures to tame inflation. At a ministerial meeting at the government complex, Deputy Prime Minister and Finance Minister Choo Kyung-ho commented on the external uncertainty, which involves a slowdown in global economic recovery and p
June 9, 2022
-
Seoul shares down for 3rd day ahead of US inflation data
Seoul shares fell for a third straight session Thursday, largely as investors took to the sidelines ahead of the release of US inflation data later this week and amid woes over an economic slowdown. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 0.71 points, or 0.03 percent, to close at 2,625.44 points. Trading volume was moderate at about 806 million shares worth some 10.6 trillion won (US$8.4 billion), with gainers outnumbering lose
June 9, 2022
-
Hyundai Steel develops high-quality alloy steel for EVs
Hyundai Steel said Thursday it has developed high-quality alloy steel that reduces noise emitted by electric vehicles. The steelmaking technology was jointly developed with Hyundai Motor Group and its affiliate, Kia, and was certified as a New Excellent Technology (NET) by the Ministry of Trade, Industry and Energy. The company said reducers made of the alloy steel enhances thermal management of car batteries by 48 percent compared to other steels and reduces the sound of shifting gears. It a
June 9, 2022
-
Businesses cornered as cargo truckers’ strike disrupts supply
Manufacturers in the fields of auto, steel and construction that rely heavily on supply deliveries via freight trucks expressed concerns over intensifying logistics disruptions caused by a unionized cargo drivers’ strike on Thursday. According to the industry on Thursday, the country’s largest automaker Hyundai Motor Group has suspended operations of four factories inside its Ulsan plant due to delay in auto parts supply. Some 6,000 units of vehicles, including flagship model
June 9, 2022
-
[Photo News] Minister in self-driving car
Minister of Land, Infrastructure and Transport Won Hee-ryong gives a thumbs-up during a test operation of Hyundai Motor’s level 4 autonomous car-hailing service RoboRide, delivered by Ioniq 5 in Gangnam, Seoul, Thursday. The carmaker said it will run the service via car-hailing service application i.M. between 10 a.m. and 4 p.m. to minimize inconvenience of commuters. Up to three passengers can use the service, including one person able to drive the vehicle in case of an emergency. Level
June 9, 2022
-
Behind the success story of K-beauty brand Barenbliss in Southeast Asia
Budding cosmetics brand Barenbliss is garnering success in the Southeast Asian market, seeing rapid growth in online sales and receiving rave reviews from local media less than a year into its debut. In an interview with The Korea Herald, Barenbliss co-founder Jina Kim attributed her brand’s success to its “unique philosophy and insightful observations.” “Every product was produced on the basis of Bare Essential Plus, No Harm Plus, and Bliss Moment, the philosophies
June 9, 2022
-
LG Uplus to launch AI voicebot, recommendation tools
South Korean telecommunications carrier LG Uplus is poised to discover more commercial use cases of artificial intelligence, as it looks to launch a voicebot for mom-and-pop stores and a personalized recommendation system for its TV viewers and online shoppers, its data head told a news conference on Thursday. LG Uplus aims to launch a new conversational voicebot service that understands the natural speech of human customers and interacts with them by as early as August this year. This differe
June 9, 2022
-
High school students invited to Korea Economics Olympiad
High school students are invited to compete in the 2022 Korea Economics Olympiad, which is held to select entrants for the International Economics Olympiad (IEO). The IEO is an annual competition for high school students in economics. Held since 2018, the IEO’s activities are designed to stimulate creative problem-solving skills among students interested in economics, business and finance. It is supported by Nobel laureate Eric Maskin and Higher School of Economics. The KEO, hosted by th
June 9, 2022
-
KT vows to spend W27tr on network, AI, cloud over 5 years
South Korean telecommunications giant KT said Thursday it plans to spend a combined 27 trillion won ($21.5 billion) in the field of network infrastructure, artificial intelligence and cloud computing over the next five years until 2026. KT, Korea‘s largest telecommunications firm by revenue as of 2021, also pledged to hire 28,000 employees during the same period. The 12 trillion won package will be used for AI, cloud computing and media contents. KT will hone AI-powered products such a
June 9, 2022
-
Merck completes expansion of OLED facilities in Pyeongtaek
Merck Korea, the local subsidiary of the German science and technology giant, said Thursday that it has completed expansion work of its local production plant in Pyeongtaek, Gyeonggi Province. In October 2020, the company announced plans to invest 20 million euros ($21 million) into expanding facilities at the plant to produce key materials for organic light-emitting diode displays that had been imported from Germany. “We can now quickly respond to customer requests and demands in Asia
June 9, 2022
-
AmCham seminar discusses ESG risks
Business leaders and experts from South Korea and the US discussed solutions to tackle sustainability risks facing businesses during a seminar hosted by the American Chamber of Commerce (AmCham) in Korea on Thursday in Seoul. AmCham Korea Chairman and CEO James Kim stressed that doing business in responsible and socially conscious ways is more critical than ever, as both nations have renewed their commitment to creating sustainable global supply chains and addressing climate change issues. &l
June 9, 2022
-
[Photo News] Taste of Southeast Asia
ASEAN-Korea Center Secretary-General Kim Hae-yong (sixth from right) and ambassadors representing the member nations of the Association of Southeast Asian Nations participate in a ribbon-cutting ceremony to mark the commencement of ASEAN Trade Fair 2022 on Tuesday at Kintex in Goyang, Gyeonggi Province. The event, held in conjunction with local food exhibition Seoul Food 2022, runs through Friday and showcases food and beverage products from Southeast Asian companies. Officials from South Korea
June 9, 2022
-
SK hynix to supply industry’s first HBM3 chip to Nvidia
SK hynix said Thursday it has started mass production of HBM3, the world’s best-performing DRAM, or dynamic random access memory, product, with the first batch being supplied to US chip giant Nvidia. Referring to high-bandwidth memory, the latest development vertically interconnects multiple DRAM chips, drastically increasing data processing speed compared to traditional DRAM chips. The latest HBM3 DRAM is the fourth generation of its HBM product. SK hynix, the world’s second-lar
June 9, 2022
-
South Korea tops shipbuilding order volume in May
South Korean shipbuilders took back the top spot from China in the world market in May, winning nearly half of total global orders. Korean companies won 1.2 million compensated gross tonnage (CGT) in shipbuilding orders during the month, which accounted for 48 percent of the total global ship orders of 2.5 million CGT, according to the UK-based Clarkson Research Services on Tuesday. China came second with 0.84 million CGT, while Japan was in third place with 0.42 million CGT. C
June 9, 2022
-
Hyundai Motor suffers output losses from cargo truckers' strike
Hyundai Motor Co. said Thursday the ongoing truckers' strike is affecting production at its main domestic plants, which are already suffering from a global chip shortage. About 6,500 out of 22,000 members of the Cargo Truckers Solidarity began a general strike on Tuesday, demanding the government extend a freight rate system meant to guarantee their basic wages amid soaring diesel prices. Striking cargo truckers refused to deliver automotive parts to Hyundai's five plants in Ulsan from
June 9, 2022
-
Seoul shares open lower ahead of US inflation data
Seoul shares opened lower Thursday as investors took to the sidelines ahead of the release of US inflation data later this week and amid woes over an economic slowdown. The Korea Composite Stock Price Index (KOSPI) fell 12.57 points, or 0.48 percent, to 2,613.58 points in the first 15 minutes of trading. Stocks came off to a weak start, taking a cue from overnight Wall Street losses. The tech-heavy Nasdaq composite retreated 0.73 percent and the Dow Jones Industrial Average declined 0.81 percent
June 9, 2022
-
OECD cuts Korea’s growth forecast to 2.7%
The Organization for Economic Cooperation and Development on Wednesday forecasted that the growth of the South Korean economy would stay in the 2 percent range this year in the wake of the inflationary pressure and the prolonged war between Ukraine and Russia. Further, the France-based organization predicted that South Korea’s inflation would reach an upper 4 percent range this year. In its latest world economic outlook report, the OECD revised down its prediction on the gross domestic
June 8, 2022
-
Korea’s Q1 GDP falls short on weak investment, consumption
South Korea’s economy grew 0.6 percent in the first quarter this year from three months earlier, lower than the 0.7 percent growth forecast in April, the Bank of Korea said Wednesday, citing weak investment and consumption as factors behind the revision. Growth in the gross domestic product for January-March, which slowed from 1.3 percent on-quarter in the previous cycle, expanded 3 percent on-year, also a drop from the 3.1 percent growth the central bank projected in April. “Data
June 8, 2022
-
[Market Eye] Kakao share prices stall as company struggles to regain public trust
Kakao Pay shares tumbled Wednesday morning after it was reported that its second-largest shareholder Alipay was looking to sell 5 million shares -- about 10 percent of the total stake it holds in Kakao Pay -- in a block deal. The stock price of Kakao Pay fell 15.57 percent to close at 89,500 won. Despite the sell-off, the payment arm of IT giant Kakao said Alipay will continue to be a strategic investor and remain the second-largest shareholder, with 34.72 percent of Kakao Pay shares, and the
June 8, 2022
-
Korean shipbuilders start building Qatar’s LNG carriers
Daewoo Shipbuilding & Marine Engineering has obtained a 1.07 trillion won ($850 million) order to build four LNG carriers for a Qatari state oil firm, it said in a regulatory filing Tuesday. The order is the first batch of a $20 billion deal that three South Korean shipbuilders -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy Industries -- had signed with Qatar in 2020. DSME said Tuesday that it will build the LNG carriers in the Okpo shipyard,
June 8, 2022