Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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KT launches new mobile plans for foreign residents
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LCS Group chief sees potential in Korea’s east coast
Luis Chavit Singson, chairman of the Philippines’ LCS Group of Companies, sees a lot of business potential on South Korea’s eastern coast, having recently committed $100 million investment in a residential, commercial and resort development project there, the group said on Sunday. LSG Group recently announced its investment by 2025 in the Mangsang District 1 development project in the East Coast Free Economic Zone (EFEZ), its first such project in Korea. The tycoon, who
Sept. 26, 2021
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[Herald Interview] SK Functional Polymer seeks to stay ahead of curve in green technology
SK Functional Polymer is a Paris-based subsidiary of petrochemical company SK Geo Centric that produces thermoplastic materials used in packaging and automotive industries. Pascal Sauvaire, chief operating officer of SK Functional Polymer, says the most important thing for the company is “to stay ahead of the curve in terms of green technology, trends and solutions.” “Recycling and the green economy have been the main trends in the packaging industry for some time,”
Sept. 26, 2021
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S. Korea's seaport cargo up 8.7% amid global economic recovery
The amount of cargo handled at South Korean seaports was up 8.7 percent on-year in August amid the global economic recovery, government data showed Sunday. The cargo processed at the country's ports stood at 128.6 million tons last month, up from 118.3 million tons a year earlier, according to the data by the Ministry of Oceans and Fisheries. Handling of export-import cargo rose 9 percent to 117.4 million tons on the back of strong exports of petrochemicals and cars. Coastal cargo handled in Sou
Sept. 26, 2021
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[Herald Interview] LIG Nex1 to develop Korea’s own satellite navigation system
This is the last installment in a series of interviews with executives of Korean companies with space ambitions. -- Ed. Every single one of South Korea’s 51 million inhabitants relies in some way on the Global Positioning System, the navigation system provided by a constellation of 31 satellites owned by the US. Since 1983, the US has offered its GPS service for free. Now, satellite navigation has seeped into every field of industry, from car navigation to logistics, and many aspects
Sept. 26, 2021
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[Advertorial] LG Chem makes materials procurement as simple as grocery shopping
From product browsing to technical support, LG Chem’s integrated digital sales platform “LG Chem On” allows customers to find the right materials they need with just a few clicks. Launched June 1, the platform makes the complicated process of business-to-business procurement as easy as ordering groceries online. Before, clients of LG Chem, such as manufacturers of home appliances or automobile parts, had to first register by email to access product information, then meet w
Sept. 26, 2021
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Samsung seeks to ‘copy and paste’ brain for chip design
Samsung Electronics and Harvard on Sunday introduced a new approach to mimicking the mechanism of a human brain on a memory chip. In a paper published in Nature Electronics, Samsung engineers and Harvard researchers explained how to create memory devices that can better mimic the unique computing traits of a human brain -- low power, facile learning, adaptation to environment and autonomy and cognition. The paper suggests copying the brain’s neuronal connection map using nano-electrod
Sept. 26, 2021
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Major carriers to see robust earnings in Q3 on increased cargo rates
South Korea's full service carriers, including Korean Air Lines Co., are predicted to post strong earnings in the third quarter of the year on the back of a rise in air cargo rates, analysts said Sunday. In a consensus estimate of 10 analysts by Yonhap Infomax, the financial news arm of Yonhap News Agency, Korean Air is forecast to record 176.8 billion won ($150 million) in operating profit in the July-September period, a turnaround from an operating loss of 31.4 billion won in the same period a
Sept. 26, 2021
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Court rules Samsung Securities must cover half of investors' damages in 2018 dividend error
A Seoul district court has ruled Samsung Securities Co. must compensate investors for half of their damages incurred due to a 2018 dividend error by an accidental stock issuance, judicial sources said Sunday. The Seoul Central District Court recently ruled partially in favor of three investors who filed damages suits against the brokerage firm for the "fat-finger" error caused by an official at the firm on April 6, 2018. If the ruling is confirmed, Samsung Securities must give between
Sept. 26, 2021
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LG Uplus to offer Disney+ to IPTV users
LG Uplus Corp., a major South Korean mobile carrier, said Sunday it will offer Disney+ through its internet protocol television (IPTV) platform as the flagship streaming service from US media giant Walt Disney Co. is set to launch in the country in November. The carrier said it has signed a deal with Walt Disney Company Korea so that Disney+ will be accessible from its U+tv platform, strengthening competitiveness against rivals KT Corp. and SK Telecom Co. LG Uplus already bundles Netflix with it
Sept. 26, 2021
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[Weekender] Metaverse: the new gold rush
A growing number of South Korean companies are turning to the metaverse to offer new services, promote their products and train their staff, ushering in what has been described as the “future of the internet.” BGF Retail, the firm behind convenience store chain CU, opened the second store on Zepeto recently -- a 3D avatar metaverse platform run by South Korea’s largest web portal operator Naver. Following the opening of the “world’s first” virtual store in A
Sept. 25, 2021
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Seoul stocks likely to move in tight range over Evergrande woes, virus concerns
South Korean stocks are likely to move in a tight range next week amid uncertainties from a Chinese developer's debt crisis and the local surge of new coronavirus cases, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 3,125.24 points Friday, down 0.49 percent from a week ago. Stock markets were closed Monday through Wednesday this week for the Chuseok holiday. The losses came as investors digested the U.S. FOMC meeting results that said the Fed could b
Sept. 25, 2021
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Elon Musk says chip shortage only 'short term'
TURIN (AFP) -- Tesla boss Elon Musk on Friday said that a global semiconductor shortage hitting car firms especially hard would be overcome soon. The chip drought is "short term, I think," the billionaire said in an appearance by video at Italian Tech Week in Turin. "There are a lot of chip fabrication plants that are being built," Musk told the audience of startups, investment funds and tech entrepreneurs. "I think we will have good capacity for providing chips by ne
Sept. 24, 2021
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China's central bank rules all crypto transactions are illegal
BEIJING (AFP) -- China's central bank on Friday said all financial transactions involving cryptocurrencies are illegal, sounding the death knell for the digital trade in China after a crackdown on the volatile currencies. The global values of cryptocurrencies including Bitcoin have massively fluctuated over the past year partly due to Chinese regulations, which have sought to prevent speculation and money laundering. "Virtual currency-related business activities are illegal financial acti
Sept. 24, 2021
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Samsung asked to reveal information about supply chains in US
Including South Korea’s Samsung Electronics, technology companies and automakers were asked to make efforts to improve transparency about their US supply chains during a meeting hosted by US Secretary of Commerce on Thursday, according to news reports. Samsung was among a list of companies including TSMC, Intel, Apple, Microsoft and some automakers, which tuned into the meeting held via teleconference, according to the reports. The companies were asked to submit documents including inf
Sept. 24, 2021
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Kakao Pay delays IPO plan on heightened consumer safeguards
South Korean mobile payment app operator Kakao Pay said Friday it has delayed its plan to go public yet again amid toughened consumer protection regulations in the domestic market. Kakao Pay, a 55:45 joint venture of internet giant Kakao Corp. and China’s Ant Group, has revised its prospectus to carry out its initial public offering process by three weeks. Its IPO size, at up to 1.53 trillion won ($1.3 billion) via 17 million new shares, will remain unchanged. According to the latest fi
Sept. 24, 2021
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Lotte Chemical to commit W49b to new ESG fund
Lotte Chemical said Friday it planned to commit 49 billion won ($41.7 million) worth of capital to a new fund dedicated to tackling environmental, social and governance issues. The money will go into a new 50 billion-won ESG fund, the course of four years, according to a disclosure submitted to the Financial Supervisory Service Friday. The fund will be managed by retail-to-chemical Lotte conglomerate’s early-stage investment arm Lotte Ventures, formerly known as Lotte Accelerator. Lotte
Sept. 24, 2021
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[Newsmaker] Mergepoint saga sparks flood of complaints in Aug.
Amid the snowballing fiasco of prepaid discount service Mergepoint that played out in August, the number of consumer requested consultations regarding the scandal marked more than 16,000, according to data provided by the Korea Consumer Agency and Korea National Council of Consumer Organizations Friday. The consumer consultation center operated by South Korea’s Fair Trade Commission received 16,188 inquiries from consumers requiring consultations about their complaints and damages over t
Sept. 24, 2021
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Gordon Ramsay to bring his burgers to Seoul
Michelin-starred chef Gordon Ramsay will open a Seoul branch of his famed burger restaurant at Lotte World Tower in Jamsil, southern Seoul, this December. The Seoul location will be the first Gordon Ramsay Burger in Asia, and the third branch to open globally. Ramsay rose to stardom as the iconic host of “Hell’s Kitchen,” an American cooking competition show that has aired since 2005. The British chef owns several restaurants under his name which, all together, have earned
Sept. 24, 2021
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Seoul stocks down for 2nd day amid virus woes, Evergrande uncertainties
South Korean stocks slumped for a second straight session Friday after the country's daily COVID-19 cases hit a record high, erasing gains from easing fears over China Evergrande Group's debt crisis. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 2.34 points, or 0.07 percent, to close at 3,125.24 points. Trading volume was moderate at about 738 million shares worth some 12.3 trillion won ($10.4 billion), with gainers outnumbering lo
Sept. 24, 2021
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LG Energy Solution jointly develops new solid-state battery
South Korea’s leading battery maker LG Energy Solution announced Friday that the company and UC San Diego have co-developed a new solid-state battery that is safer and more durable than existing ones. The research results have been published in Science, one of the top peer-reviewed academic journals, the company added. According to LG Energy Solution, the new solid-state battery, which uses both a solid state electrolyte and an all-silicon anode, has shown positive results during initi
Sept. 24, 2021