Most Popular
-
1
Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
-
2
Key suspects grilled over alleged abuse of power in Marine death inquiry
-
3
Seoul alerts overseas missions to NK terror threats
-
4
[Graphic News] Number of coffee franchises in S. Korea rises 13%
-
5
S. Korean children, teens grow taller, mature faster than before: study
-
6
Some junior doctors are returning: Health Ministry
-
7
Public backlash against division of Gyeonggi Province under 'corny' name
-
8
Army takes group action against Hybe for neglecting BTS
-
9
[Robert J. Fouser] AI changes rationale for learning languages
-
10
[Today’s K-pop] Stray Kids go gold in US with ‘Maniac’
-
BOK raises rate by quarter-percentage-point to quell inflation
South Korea’s central bank on Thursday raised its benchmark interest rate by a quarter percentage point to 1.5 percent, with an official warning of growing inflationary pressure and slower-than-expected economic expansion. The Bank of Korea’s six-member monetary policy board unanimously voted to raise the base rate to 1.5 percent -- the highest level since July 2019 –- during a rate-setting meeting. It marks the central bank’s fourth pandemic-era rate hike, dating to Aug
April 14, 2022
-
KEF chief discusses cooperation with Heritage Foundation president
The Korea Enterprises Federation said that its chairman, Sohn Kyung-shik, met with the president of the Heritage Foundation in Washington on Wednesday, stressing the need for a similar nongovernmental think tank in Korea as well. Founded in 1973, the Heritage Foundation is a nonprofit conservative think tank with a mission to formulate and promote public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values and a strong nationa
April 14, 2022
-
HJ Shipbuilding develops dual-fueled LNG container ship
South Korean shipyard HJ Shipbuilding & Construction Co. said Thursday it has succeeded in developing a dual-fueled liquefied natural gas (LNG) container carrier that meets international environmental requirements. HJ Shipbuilding said it has recently received approval from Lloyd's Register for its design on a 7,700 twenty-foot equivalent unit (TEU) container ship with a LNG-powered dual-fuel engine. The two companies have been joining hands in developing the new type of LNG-fueled container
April 14, 2022
-
Samsung's financial affiliates launch unified service app Monimo
Financial affiliates of South Korean conglomerate Samsung Group on Thursday launched an integrated financial service app that offers various financial plans spanning insurance to financial investment. The new Samsung app, Monimo, offers services from four Samsung financial affiliates, such as Samsung Life Insurance Co., Samsung Fire & Marine Insurance, and Samsung Card Co. The app enables Samsung customers to use different financial services, including calling car insurance agents and filing
April 14, 2022
-
Top airline Korean Air set to issue bonds in April
South Korea's top airline Korean Air Lines Co. is poised to issue bonds worth up to 300 billion won ($245 million) in April in an effort to secure working funds, industry sources said Thursday. The amount of Korean Air's planned debt sale, which is currently estimated to range from 200 billion won to 300 billion won, could rise depending on market demand, according to the sources. The national flag carrier is expected to use the proceeds for refinancing maturing bonds and other operating purpose
April 14, 2022
-
Hyundai IONIQ 5 named World Car of the Year
Hyundai Motor Co.'s IONIQ 5 has been named World Car of the Year at the 2022 World Car Awards, beating models from sister brand Kia Corp. and Ford Motor Co. to claim the overall crown. The all-electric crossover beat Kia's EV6 pure electric sedan and Ford's Mustang Mach-E SUV. It was also named World Electric Car of the Year and World Car Design of the Year, the company said in a statement. In the electric car category, Kia beat Mercedes-Benz's EQS sedan and Audi's e-tron GT sports car. "Wi
April 14, 2022
-
S. Korea's tax revenue up in Feb. amid economic recovery
South Korea's tax revenue rose 1.4 trillion won ($1.1 billion) in February compared to a year earlier as the collection of income and corporate taxes increased amid the economic recovery, the finance ministry said Thursday. The government collected 20.3 trillion won in taxes in February, compared with 19 trillion won the previous year, according to the Ministry of Economy and Finance. The tally was lower than an on-year increase of 10.8 trillion won in January, when the government collected more
April 14, 2022
-
S. Korean regulator starts review of Microsoft takeover deal
South Korea's antitrust regulator said Thursday it has started to review the proposed deal by US software giant Microsoft Corp. to buy leading US game developer Activision Blizzard. The Fair Trade Commission (FTC) said it plans to see if the merger of the two US firms could hurt competition in the online game market. In January, Microsoft announced a plan to acquire Activision Blizzard for $68.7 billion, and it asked the FTC last week to review its proposed takeover for approval. (Yonhap)
April 14, 2022
-
Hyundai, Kia unveil face-lifted SUV models at New York auto show
Hyundai Motor Co. and its affiliate Kia Corp. -- South Korea's two biggest carmakers -- said Thursday they have unveiled their face-lifted SUV models amid robust demand for SUVs at the New York International Auto Show this week. Hyundai revealed the upgraded Palisade SUV at the show ahead of its domestic launch in May, while Kia introduced the face-lifted Telluride SUV ahead of its US launch later this year, the companies said in separate statements. The new Palisade will be available with an ei
April 14, 2022
-
7 carmakers to recall over 54,000 vehicles over parts defects
Ford Sales & Services Korea Inc., Hyundai Motor Co. and four other carmakers will voluntarily recall 54,390 vehicles combined over parts defects, Seoul's transport ministry said Thursday. Ford will recall 19,733 Explorer SUVs over faulty rear toe links at the back wheels, which could cause safety problems while driving, according to the Ministry of Land, Infrastructure and Transport. Hyundai will recall 17,682 units of its hydrogen fuel-cell Nexo, as the malfunction of a sensor leads to a
April 14, 2022
-
Import prices up for 3rd month in March on oil, raw materials price hikes
South Korea's import prices increased for the third straight month in March as prices of crude oil and other commodities rose, central bank data showed Thursday. The import price index rose 7.8 percent in March from a month earlier, according to the preliminary data from the Bank of Korea. The rise followed 4.4 percent and 4.6 percent rises in January and February, respectively. The rise came as the ongoing war in Ukraine has sent oil and other raw materials prices even higher. The BOK said
April 14, 2022
-
Seasoned bureaucrat to lead Oceans Ministry
Cho Seung-hwan, a former senior official at the Ministry of Oceans and Fisheries who spent more than 20 years in maritime services, was tapped to head the ministry under the incoming Yoon Suk-yeol government. “Cho is a maritime expert with an unmatched depth of experience spearheading many projects under previous governments. I expect him to find new opportunities for the maritime industry and map out plans to make the country a leading maritime power,” Yoon said. Cho, who served
April 13, 2022
-
Startup founder named to lead SME Ministry
President-elect Yoon Suk-yeol on Wednesday named a startup founder-turned-lawmaker to lead the Ministry of Small Medium-sized Enterprises and Startups, in his second round of Cabinet nominations since Sunday. Rep. Lee Young founded local internet and mobile security provider Teruten in 2000, and won a proportional representation seat without a constituency in the 2020 parliamentary election. She is the only legislator at Yoon’s People Power Party with experience in running startups,
April 13, 2022
-
[Herald Interview] ICAO supports opening of inter-Korean airway, but safety check comes first
The United Nations aviation agency supports having direct flights between North and South Korea, on condition of Seoul’s endorsement, but a clear assessment of the safety and security of passengers and flights should be carried out, its chief said Tuesday. “We are interested that these flights are conducted in a safe, secure, efficient manner and we stand ready to support basically if that decision is taken by the government,” said Juan Carlos Salazar, the head of the Intern
April 13, 2022
-
Fiscal chief apologizes for failing to curb housing prices
SEJONG -- Deputy Prime Minister and Finance Minister Hong Nam-ki apologized for failing to curb apartment prices, but said the government’s real estate measures have been consistent. “The government has pushed for real estate policies in a consistent manner under the three principles of increasing supply, protecting real demand and restraining speculative investment,” he said during a ministerial meeting on Wednesday. He said that he felt sorry about the situation in which &l
April 13, 2022
-
Naver's new goal: 1b users in 5 years
SEONGNAM, Gyeonggi Province -- South Korean IT behemoth Naver is aiming to double its annual sales to reach 15 trillion won ($12.2 billion) in the next five years and secure 1 billion users worldwide, company executives said Wednesday. “Naver has entered the ‘Global 3.0’ stage where we create multiple growths through the synergy of various business portfolios, technological leadership as well as domestic and overseas partnerships,” CEO Choi Soo-yeon said at a press conf
April 13, 2022
-
Newsweek chooses Hyundai Motor chief as ‘visionary of the year’
US weekly magazine Newsweek chose Hyundai Motor Group Chairman Chung Euisun as visionary of the year in Newsweek World‘s Greatest Auto Disruptors Award event on Tuesday. In its special issue on agents of change in the automotive industry, Newsweek detailed Chung’s plans for Hyundai’s future, the carmaker’s progress and challenges in alternative fuels, acquisition of a robotics company, and its focus on vertical integration to become self-sufficient, from components to fi
April 13, 2022
-
Wealthy young Koreans hold average asset of W6.6b: report
Wealthy Koreans in their 20s, 30s and 40s held an average asset of 6.6 billion won ($5.3 million) with a median annual income of 400 million won as of end-2021, a report showed Wednesday. The report dubbed 2022 Korean Wealth Report compiled by a think tank under Hana Bank was based on a survey of 1,952 Koreans above the age of 19 conducted in December last year. It categorized 708 respondents with personal assets over 1 billion won as “wealthy,” and of the group, 131 people aged bet
April 13, 2022
-
Posco wins Worldsteel‘s recognition for sustainable management
South Korean steelmaker Posco was named Sustainability Champion of the year by the World Steel Association in recognition of its sustainable management, the company said Wednesday. Worldsteel is an international non-profit organization representing the global steel industry with memberships of 140 companies around the world. The organization named 10 companies for their sustainable efforts. Posco was added to the list for the first time, the company said. The Worldsteel recognition is
April 13, 2022
-
SK Telecom buys stake in 3D motion graphics firm in metaverse push
South Korean telecommunications giant SK Telecom said Wednesday it has agreed to buy a stake in Morph Interactive, a Seoul-based three-dimensional motion graphics company, in a move to bolster a strategic partnership for accelerating its metaverse push. The deal terms, such as acquisition cost and the amount of Morph Interactive’s stake, was undisclosed upon the consent of the two companies. Morph Interactive has been dedicated to real-time 3D visual effects on Unity’s game engine
April 13, 2022