Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Medical standoff deepens as doctors reject new med school plan, talks
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[Herald Interview] Why Toss invited hackers to penetrate its system
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[Graphic News] 77% of young Koreans still financially dependent
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Korean, Romanian leaders discuss defense tech, nuclear energy
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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Naver to announce research results on Korean-language AI model at EMNLP 2021
Naver, the largest internet business in South Korea, will present seven research papers on natural language processing in artificial intelligence at a globally renowned academic conference, the company said Friday. Set to be held in the Dominican Republic from Nov. 7 to 11, the Empirical Methods in Natural Language Processing 2021 is a global conference with 25 years of history. At the upcoming conference, Naver will unveil its hyperscale Korean-language model Hyper Clova and introduce dat
Sept. 3, 2021
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[Graphic News] S. Korea’s trade in camping goods hits new high in 2020 on pandemic
South Korea’s exports and imports of camping goods reached a fresh high in 2020 amid the coronavirus pandemic, a report showed. Asia’s fourth-largest economy exported and imported $399 million worth of camping equipment last year, an all-time high and up 40 percent from the previous year, according to the report from the Korea Trade Statistics Promotion Institute. In the first half of this year alone, the country’s trade in camping gear stood at $293 million, above the
Sept. 3, 2021
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Facing criticism over racism, Japanese cosmetics firm DHC pulls out of S. Korea
Japanese cosmetics firm DHC announced on Thursday that it was withdrawing its business from South Korea later this month amid growing criticism over the company’s racially discriminatory stance against Koreans. In a statement on its website, DHC Korea said it had strived to satisfy customers with great service and products but “regrettably decided to end its operation in South Korea.” The closure of the business is scheduled for Sept. 15, nearly 20 years after it entered the
Sept. 2, 2021
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Inflation pressure mounts as prices leap 2.6% in Aug
Consumer inflation rose 2.6 percent last month, staying above 2 percent for the fifth month in a row, on the back of higher agricultural product and international crude oil prices, Statistics Korea reported Thursday. It is the first time since 2017 that consumer inflation has remained above 2 percent for five consecutive months. Core inflation, which excludes volatile food and oil prices, rose 1.3 percent last month from a year earlier. Given that the government plans to dole out 11 trillio
Sept. 2, 2021
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Samsung pushes harder into midrange market with Galaxy A52s 5G
Alongside the highest-end foldable smartphone series Galaxy Z, Samsung Electronics is making a stronger push in the midrange phone market, launching an upgraded version of the Galaxy A52 model. The South Korean smartphone vendor on Thursday announced the release of the Galaxy A52s 5G in the domestic market at 599,500 won ($513) on Friday. The newest A series model hit stores in India, the biggest midrange phone market for Samsung, on Wednesday, two days before the Korea launch. The Galax
Sept. 2, 2021
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DuPont Korea appoints new CEO
DuPont Korea said Thursday the company has appointed Shin Dong-man as its new chief executive officer. Shin, 50, has served as the sales director of DuPont’s mobility and materials group in the Asia Pacific region. He will maintain the position, while heading the overall Korean operation, the firm said. Shin has built his career in the field of industrial materials, mainly silicon, for the past 25 years, the company said. The CEO is recognized for developing DuPont’s flagship e
Sept. 2, 2021
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Seoul stocks snap 4-day winning streak on profit-taking
South Korean stocks ended a four-session winning streak Thursday as investors sought to lock in recent gains amid concerns of inflation. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 31.17 points, or 0.97 percent, to close at 3,175.85 points. Trading volume was moderate at 731.76 million shares worth some 13.99 trillion won ($11.8 billion), with losers outnumbering gainers 472 to 371. Foreigners offloaded a net 380.8 billion won
Sept. 2, 2021
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Genesis to go all electric by 2025
Genesis, the luxury auto brand of Hyundai Motor Group, will completely phase out internal combustion cars by 2025, it said Thursday, becoming the first Hyundai-owned car brand to announce a full transition to electric vehicles. Hyundai Motor Group Chairman Chung Euisun presented the EV-only vision for Genesis, appearing in a livestream video on its official YouTube channel. He said the brand will achieve carbon neutrality by 2035. “Genesis has been on an intensive, bold and successful
Sept. 2, 2021
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[Newsmaker] Hyundai Heavy readies to become first-mover for eco-friendly ships via W1.08tr IPO
Hyundai Heavy Industries announced a blueprint to usher in a paradigm shift in the global shipbuilding industry of its planned market debut on the South Korean main board Kospi on Sept. 16. The major shipbuilder here unveiled its vision of being a first mover for eco-friendly ships during an online press conference with reporters Thursday, while also detailing specific plans for its initial public offering. “Developing eco-friendly and digitalized vessels, constructing smart shipyards
Sept. 2, 2021
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S. Korea lays out new approach to trade on five major sectors
South Korea will take a new approach to trade on five core sectors in a bid to maximize its national interests, the country’s trade minister said Thursday. Presiding over his first trade committee meeting at the government complex in Sejong, newly appointed chief negotiator Yeo Han-koo called for a differentiated, creative and vigilant trade strategy on supply chain, vaccine, carbon neutrality and climate change, technology-based trade and digital commerce. “Korea will take ini
Sept. 2, 2021
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S. Korea’s economy likely to meet annual 4 percent goal: BOK
South Korea is now more likely to meet its annual growth goal of 4 percent, with the economy on faster-than-expected track to recovery, despite woes stemming from the fourth and worst wave of the virus, a central bank official said Thursday. The anticipation comes as the Bank of Korea announced on-quarter growth of 0.8 percent for the economy in the April-June period. The figure was 0.1 percentage point higher than expected, preliminary data from the BOK showed. “With the higher-then-e
Sept. 2, 2021
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LG Chem to set up Korea’s 1st hydro-treated vegetable oil factory
LG Chem said Thursday it will establish South Korea’s first hydrogen-treated vegetable oil factory to bolster its green product portfolio. The HVO factory will be built at the Daesan petrochemicals complex in South Chungcheong Province by 2024, according to the nation’s leading chemical firm. LG Chem will first form a joint venture with Dansuk Industrial, a local chemicals company, to build the factory together. HVO is a diesel substitute made from vegetable oil or waste cookin
Sept. 2, 2021
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HMM unions accept wage deal, end labor strife
Labor unions of South Korea’s largest shipping company HMM on Thursday scrapped a strike plan after reaching a new wage deal with management. HMM officials and representatives of the two unions, separately representing land-based and longshore workers, agreed to a 7.9 percent increase in wages, a bonus payment amounting to 650 percent of their monthly salary and a 2.7 percent increase in welfare benefits. The deal, reached early Thursday morning after marathon negotiations, ended 77 d
Sept. 2, 2021
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Sacha Askidjian tapped as new head of AVK Volkswagen division
Audi Volkswagen Korea has appointed Sacha Askidjian as the new managing director of the Volkswagen brand in Korea, the company announced Thursday. He will replace Stephan Krapp starting from Oct. 1, who will move to the company’s headquarters in Germany to take charge of pricing strategies of Volkswagen cars in Europe. Joining the Audi Volkswagen Group in 2000, Askidjian built a 10-year career in customer service and marketing at the group’s French office. He moved on to the gr
Sept. 2, 2021
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New FSC chief stresses unity with FSS
Koh Seung-beom, the new chairman of the policymaking Financial Services Commission, vowed Thursday to bolster cooperation with the market watchdog Financial Supervisory Service in a gesture to ease the long-standing power struggle between the two agencies. “I’ve stressed that the FSC and FSS should move in unison. As the FSC’s new head, I will ramp up efforts to strengthen communication with the FSS’ chairman in terms of promoting financial policies,” Koh told repo
Sept. 2, 2021
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Naver Webtoon inks deals with Hybe, DC Comics
Naver’s storytelling and comic platform has the greatest number of creators and users in the world. Some 6 million creators are registered with Naver Webtoon and its recently acquired Wattpad, and up to 167 million users visit the sites each month. The fact that Naver’s storytelling arm has a vast pool of creators and a global fandom appeals to top global entertainment companies with high-value intellectual properties that are interested in having characters or stories they own made
Sept. 2, 2021
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[Graphic News] Samsung maintains 2nd spot in tablet market in Q2: report
Samsung Electronics stayed on as the world’s second-largest tablet computer vendor in the second quarter of the year, a report showed, as it strives to catch up with industry leader Apple. The South Korean giant logged a market share of 18 percent in the April-June period, after shipping 8.2 million Galaxy Tab tablets, up 19 percent from a year ago, according to market researcher Strategy Analytics. Apple defended its top position with a 35 percent share as its iPad shipments ju
Sept. 2, 2021
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Seoul stocks open lower on profit-taking
South Korean stocks opened lower Thursday as investors attempted to lock in recent gains. The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.6 points, or 0.21 percent, to trade at 3,200.42 points in the first 15 minutes of trading. The KOSPI got off to a lackluster start amid sell-offs in banking, bio and auto large caps after the index rose for four straight sessions. Market kingpin Samsung Electronics edged down 0.13 percent, and No. 2 chipmaker SK hynix slipped 0.46 percent. P
Sept. 2, 2021
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Inflation growth hits over 2% for 5th straight month in Aug.
South Korea's consumer prices rose more than 2 percent for the fifth straight month in August due to high prices of farm and oil products, data showed Thursday, indicating a continued build-up of inflationary pressure amid an economic recovery. The consumer prices rose 2.6 percent in August from a year earlier, the same growth as the previous month, according to the data compiled by Statistics Korea. Compared with a month earlier, consumer inflation rose 0.6 percent last month, accelerating fr
Sept. 2, 2021
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S. Korea's Q2 economic growth faster than expected at 0.8%
South Korea's economy grew slightly faster than expected in the second quarter, thanks to a robust recovery of exports and service sectors, central bank data showed Thursday. The nation's economy grew 0.8 percent in the April-June period from three months earlier, 0.1 percentage point higher than earlier expected, according to preliminary data from the Bank of Korea (BOK). The country's annualized growth in the April-June period was also revised up to 6 percent, up 0.1 percentage point. Sout
Sept. 2, 2021