Most Popular
-
1
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
2
Inflation eases in April, continues bumpy ride
-
3
Golden chance to liquidate babies’ gold rings?
-
4
Seoul to more than double military drones by 2026 to counter NK threats
-
5
Seoul alerts overseas missions to NK terror threats
-
6
Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
-
7
[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
-
8
Over 60% of S. Koreans support W100m childbirth incentive: survey
-
9
‘Inside Out 2’ adds four new emotions, explores teenage life
-
10
Questions raised over fair promotion of RM, NewJeans
-
Hyundai Motor chairman, father sell 10-pct stake in logistics unit to Carlyle
Hyundai Motor Group Chairman Chung Euisun and honorary group chief Chung Mong-koo sold their combined 10 percent stake in Hyundai Glovis to the global private equity firm Carlyle Group, the logistics unit of the group said Wednesday. The junior Chung sold a 3.29 percent stake and his father unloaded a 6.71 percent interest in Hyundai Glovis at 163,000 won (US$136) per share through block trading, the company said in a regulatory filing. The stake sale is valued at around 610 billion won. Th
Jan. 5, 2022
-
[CES 2022] Hyundai Motor vows to expand human reach with robots, metaverse
LAS VEGAS -- Laying out the groundwork for its future with robotics technology and the metaverse, the chairman of South Korean carmaker Hyundai Motor Group unveiled a new concept that materializes future mobility even in virtual spaces. Speaking at the Consumer Electronics Show taking place in Las Vegas, Hyundai Motor Chairman Chung Euisun introduced “metamobility” -- referring to an integration of robotics and the metaverse -- as the automaker's new growth engine. The concept is a
Jan. 5, 2022
-
[CES 2022] Hyundai Heavy Industries, Palantir to build new big data platform
Hyundai Heavy Industries and US company Palantir Technologies will work on building a new big data platform, the companies said Wednesday. The two firms clinched a partnership in Las Vegas a day before the official kickoff of the CES 2022. The deal is reportedly valued at above $25 million, according to the industry. Their multiyear deal will improve the way Hyundai Heavy’s affiliates operate their businesses in shipbuilding, offshore engineering and energy and industrial machiner
Jan. 5, 2022
-
[CES 2022] Hankook Tire unveils airless tire i-Flex
South Korean tire manufacturer Hankook Tire unveiled an airless tire i-Flex at CES 2022, which has been used for Hyundai Motor Group’s latest robotics module Plug & Drive. According to the company, a 10-inch tire is applied with biomimetic design and requires no air inside unlike a traditional tire. Inspired by a cell structure of living body, the tire maker said i-Flex adopted multi-layer interlocking spoke design to bolster the load bearing structure and shock absorption.&nbs
Jan. 5, 2022
-
Seoul stocks sink over 1% on US bond yield woes
South Korean stocks retreated Wednesday on worries the rising long-term bond yields in the United States may hasten the Federal Reserve's tapering move. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) declined 35.27 points, or 1.18 percent, to close at 2,953.97 points. Trading volume was moderate at about 774 million shares worth some 14.6 trillion won ($12.2 billion), with losers outnumbering gainers 554 to 319. Institutions dumped a net 1.3
Jan. 5, 2022
-
[CES 2022] Samsung brings sustainable innovation to fore at CES
Samsung Electronics Vice Chairman and Chief Executive Officer Han Jong-hee said at the world’s largest tech show CES 2022 that the company’s new sustainable technologies would become part of the consumer experience. The green technologies would help Samsung‘s product lifecycle minimize the impact on climate change and encourage its consumers to reduce their carbon footprints, Han said during the keynote speech Tuesday. The green technologies suggested by Samsung range from the
Jan. 5, 2022
-
State-run banks eye overseas expansion for net-zero, corporate financing in 2022
South Korea’s state-run banks are gearing up for major overseas business expansions this year, in line with the global economy adopting measures to return to normalcy from the pandemic. Korea Development Bank, the nation’s development financial lender that provides local firms risk capital, is likely to upgrade its current office in Frankfurt, Germany, to a branch by the end of the year. KDB Chairman Lee Dong-gull visited Germany in August last year to prepare for the office’
Jan. 5, 2022
-
[Herald Interview] Young designers launch brands through Han Sung Motor’s Dream Gream project
Jung Ji-won, a graphic designer at a fashion company, always thought it was a waste to discard countless pieces of leftover fabric every day. Inspired by the piles of discarded cloth samples and fabric pieces, Jung came up with an idea to create a brand that makes hats from recycled fabric, such as Mipan regen that is made from reclaimed waste. “I believe that the MZ generation spend money based on their values. That’s why I thought the brand I created, Crayon Studio, could a
Jan. 5, 2022
-
CJ Bioscience eyes global microbiome market leadership
CJ Bioscience, a biotechnology subsidiary of CJ CheilJedang, has been officially launched with its eyes set on becoming a global leader in the microbiome sector, the Korean food giant said Wednesday. The establishment of the biotechnology firm is part of CJ Group Chairman Lee Jay-hyun’s earlier pledge to strengthen the group’s wellness business, one of the four growth engines he had vowed to cultivate for the future. CJ Bioscience on Tuesday held an inauguration ceremony with key
Jan. 5, 2022
-
All-in-one banking service launched
South Korea’s financial institutions -- including banks, brokerages and credit card companies -- launched an all-in-one banking service Wednesday for customers to manage their financial data spread across financial firms in one place. Called “MyData,” the service was put on a trial run in December before 33 financial institutions officially started offering it this week to help customers make more informed financial decisions looking at their account balances, loans and insura
Jan. 5, 2022
-
Regulator looking into market interest rates amid complaints over widening deposit-loan rate spread
South Korea's chief financial regulator said Wednesday that he is looking into loan and interest rates set by financial institutions amid complaints that their spread is widening, deepening the financial burden on many consumers. Jeong Eun-bo, head of the Financial Supervisory Service (FSS), made the remarks as criticism has grown that banks and other financial firms are quicker to increase their loan rates than raise rates on deposits. The rate hikes are in line with the central bank's push t
Jan. 5, 2022
-
Exports of agro-fisheries goods hit new high in 2021
South Korea's exports of farm and fishery products surged more than 15 percent on-year to touch a new record high in 2021, government data showed Wednesday. Outbound shipments of agricultural, livestock and fisheries goods came to $11.36 billion last year, up 15.1 percent from a year earlier, according to the agriculture and fisheries ministries. It marks the first time in history that South Korea's exports of those products have exceeded the $10 billion level. Exports of agricultural and liv
Jan. 5, 2022
-
Hyundai Heavy signs MOU with US firm for data platform
Hyundai Heavy Industries Group, the world's biggest shipbuilder by sales, said Wednesday it has signed a pact with a US data analytics firm for the big data platform business. At the Consumer Electronics Show held in Las Vegas, the South Korean shipbuilder signed a memorandum of understanding (MOU) with Palantir Technologies Inc. to establish a big data platform and a joint venture, the company said in a statement. "The partnership will substantially improve the competitiveness of the gro
Jan. 5, 2022
-
[CES 2022] Samsung working on asymmetrical foldable display for flip smartphone
Las Vegas -- Samsung Display unveiled an asymmetrical foldable display for flip smartphones at a private media showcase held at Encore in Las Vegas. During the tour, Samsung officials showcased a prototype flip smartphone where the upper half is shorter than the lower half. When folded, the bottom part of the display is exposed, where basic information such as time and weather showed up. “By exposing the bottom screen, flip smartphones no longer need a secondary screen on the exterior
Jan. 5, 2022
-
[CES 2022] Samsung unveils portable beam projector
LAS VEGAS -- Samsung Electronics on Tuesday unveiled a portable beam projector, “the Freestyle,” to overcome the physical constraints of TVs and bring screen experience everywhere. According to the South Korean tech giant, the Freestyle weighs just 830 grams and offers a minimal design that fits in one hand, a perfect option for travelers and campers. “The Freestyle can rotate freely in 180 degrees and support screen size up to 100 inches. It can project a screen anywhere f
Jan. 5, 2022
-
Imported car sales down 24% in Dec. amid chip shortages
Sales of imported vehicles in South Korea plunged 24 percent in December from a year earlier as chip shortages continued to disrupt vehicle production, an industry association said Wednesday. The number of newly registered foreign vehicles fell to 23,904 units last month from 31,419 units a year ago, the Korea Automobile Importers & Distributors Association (KAIDA) said in a statement. "Chip supply issues continued to weigh on vehicle sales last month despite a variety of new models,
Jan. 5, 2022
-
Housing market continues to stabilize on regulations: minister
South Korea's housing market has been stabilizing with home prices not just in Seoul but also many other local areas on a downward trend on higher taxes and stricter lending rules, the finance minister said Wednesday. The recent downward trend comes after the government adopted dozens of measures to curb skyrocketing home prices in recent years as more people rushed to take out bank loans to buy homes in anticipation of further price hikes. "The pace of stabilization in the recent home tr
Jan. 5, 2022
-
Wine imports jump 76% in 2021 amid pandemic
South Korea's wine imports soared over 70 percent in 2021 as more people enjoyed drinking at home and alone amid the coronavirus pandemic, data showed Wednesday. Asia's fourth-largest economy imported $506.2 million worth of wine in the January-November period of last year, up 76 percent from a year earlier, according to the data by the Korea Customs Service and industry sources. It marks the first time that the country's wine imports have surpassed the $500 million level. South Korea's wine
Jan. 5, 2022
-
Hyundai, Kia's US sales soar 19% in 2021
Hyundai Motor Co. and its affiliate Kia Corp. said Wednesday their combined sales in the United States spiked 19 percent in 2021 from a year earlier despite the prolonged pandemic and chip shortages. The corporate duo sold a total of 1.44 million vehicles in the world's most important automobile market last year from 1.21 million units a year ago, according to the companies' sales data. Hyundai's US sales climbed 19 percent to 738,081 units from 622,269 over the cited period and Kia's also jum
Jan. 5, 2022
-
Samsung Display to produce QD OLED TV displays in 1st half of 2022
Samsung Display Co., the display panel-making arm of Samsung Group, said Tuesday it will roll out QD OLED TV displays in two sizes as well as a monitor display in the first half of the year, ending industry speculations regarding the timing of the commercial debut of the company's next-generation display. The announcement was made during the media preview of the Consumer Electronics Show (CES) held at Encore At Wynn in Las Vegas where the display maker is showcasing its innovative new products
Jan. 5, 2022