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
S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
-
5
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
6
[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
-
7
Seoul Metro to seek legal action against malicious complaints
-
8
Illit, mired in controversy, remains on Billboard charts for 5th week
-
9
On May Day, labor unions blast Yoon's foreign nanny proposal
-
10
[KH Explains] Will alternative trading platform shake up Korean stock market?
-
FSC chief nominee: 'cryptocurrencies are not real'
Financial Services Commission Chairman nominee Koh Seung-beom expressed skepticism on Wednesday over the value of cryptocurrency as a financial asset, confirming his tone in line with the regulator’s move to tighten its grip on local crypto exchanges. “International organizations, including the Group of 20 and the International Monetary Fund, as well as a lot of market experts, find it difficult to consider virtual currencies as a financial asset, and think they could not f
Aug. 25, 2021
-
KRX aims to make South Korea’s ETF market global
South Korea’s exchange-traded fund market has witnessed a major change this month with the number of funds available on the market surpassing 500 for the first time, marking a quantum leap from its beginning 19 years ago when it had only four products. Following an increase in the number of products available, the daily turnover of the country’s ETFs has surged to become the third-largest in the world, according to the Korea Exchange. The bourse operator aims to make the locally li
Aug. 25, 2021
-
Samsung ranks 3rd in Western European tablet market in Q2: report
Samsung Electronics Co. was the third-largest tablet vendor in Western Europe in the second quarter of the year, a report showed Wednesday, as the South Korean tech giant tries to catch up to industry leader Apple Inc. Samsung logged a market share of 18 percent in the Western European tablet market in the April-June period after its Galaxy Tab shipments dropped 18 percent from a year ago, according to market researcher Canalys. Apple was the leading supplier with a market share of 36 percent
Aug. 25, 2021
-
LG Electronics introduces cloud-based remote healthcare solution for hospitals
LG Electronics Inc. on Wednesday introduced a cloud-powered remote healthcare solution for hospitals as the tech giant eyes to expand its presence in the telehealth market. LG said its remote healthcare solution with medical-use displays is based on virtual conference platforms and can be used for online diagnoses of patients. Its solution, which the company developed together with local digital healthcare firm eZ Caretech Co., is compatible with hospitals' electronic medical records or hospit
Aug. 25, 2021
-
S. Korea to prioritize supplying homes to stabilize prices: minister
Finance Minister Hong Nam-ki said Wednesday the government will focus on supplying homes as planned in the second half in a bid to curb high-flying home prices. The minister said a tight supply for homes has somewhat eased since August as more people have begun to move into newly built apartments. "Increasing housing supply sufficiently is a key to stabilizing the property market," Hong said at a government meeting on the housing market. "The government will do its best to prov
Aug. 25, 2021
-
Seoul stocks open higher on US gains
South Korean stocks opened higher Wednesday, taking a cue from overnight gains on Wall Street that were largely generated by easing concerns about the US Federal Reserve's tapering timeline. The benchmark Korea Composite Stock Price Index (Kospi) rose 11.68 points, or 0.37 percent, to trade at 3,149.98 points in the first 15 minutes of trading. The Kospi got off to a solid start after rallying for the past two sessions. The tech-heavy Nasdaq composite advanced 0.52 percent as investors are op
Aug. 25, 2021
-
Kia, labor union reach tentative wage deal
South Korean automaker Kia Corp. and its labor union on Tuesday reached a tentative wage deal without strikes for the first time in a decade amid the extended COVID-19 pandemic. The deal includes an increase of 75,000 won ($64.30) in monthly base pay, a bonus of 200 percent of monthly salary plus 3.5 million won, and a one-off special bonus of 2.3 million won. The wage agreement is subject to a vote by union members on Friday, the union said. Last month, its bigger affiliate Hyundai Motor
Aug. 24, 2021
-
Labor strike looms at HMM, sparking logistics concerns
South Korea’s largest shipper HMM may be headed for its first labor strike, stoking fears of a major disruption in maritime shipping. Following a vote by longshore workers in favor of a walkout on Tuesday, remaining staff at the company will decide whether to join the collective action in a poll next Monday. Demanding steeper pay raises, the unionized workers say they will not just stay away from work, but may just quit the company en masse if their demands are not met. On Tues
Aug. 24, 2021
-
Robots march into more business sectors in Korea
The advent of intelligent humanoid robots depicted in sci-fi films is still thought to be a thing of the distant future, but more South Korean companies in a wide range of industries have begun to adopt simpler robots in a bid to remain competitive in the long term. Not only telecom operators and search engines, but also tech startups that rely on online platforms are rushing to deploy robots in a bid to nurture the long-term potential of robots in connection with artificial intelligence, clo
Aug. 24, 2021
-
[News Focus] Home prices in Seoul up 10% since January
SEJONG -- Housing prices in Seoul, Gyeonggi Province and Incheon have continued to spike in recent months, with mixed prospects on whether the surge could be tamed with government-led property regulations such as tighter mortgage rules. Real estate figures in the three areas act as a barometer for home prices nationwide. As of July, 50.3 percent of South Korea’s 51.67 million population were residing in the capital-centered metropolitan area. The average trading price of homes in Seoul
Aug. 24, 2021
-
HanmiGlobal among world’s top 10 construction project management firms: survey
HanmiGlobal, a South Korean construction project management service provider, has been named one of the world’s top 10 players in the field in a global survey, the company said Tuesday. It ranked 10th in the top 20 non-US firms in total global CM/PM fees in the 2021 ENR Top International Survey, released by Engineering News Record. CM refers to construction management and PM, project management. It climbed up a notch in the ranking from the previous year, as it achieved a combined $24
Aug. 24, 2021
-
Seegene to sell self-sampling swabs in Europe
South Korean biotech firm Seegene has cleared the final hurdle to market in Europe its new sample collection device for COVID-19 diagnostic tests. According to the firm Tuesday, the product, called Combo Swab, has received a CE mark and can be legally commercialized in the EU. A CE mark, required on most goods sold in Europe, shows a product’s conformity to EU’s health, safety and environmental standards. According to Seegene, the sample collection device can be used for its fou
Aug. 24, 2021
-
[Herald Interview] ‘Chaebol need sincere communication to fend off takeover attempts’
South Korean chaebol have been facing growing legal challenges from shareholders questioning the opaque influence exercised by members of their controlling families. With the market pressure to improve transparency in governance and management, the chaebol families need to communicate with the public with sincerity and take concrete actions, a seasoned lawyer said. “A majority shareholder who is not willing to communicate will inevitably be exposed to risks in management and will be co
Aug. 24, 2021
-
DataStreams CEO joins road safety campaign
DataStreams, a local big data and cloud solutions provider, said Tuesday that CEO Lee Young-sang has joined the Children’s Traffic Safety Relay Challenge. The road safety campaign was launched on social media in December last year by the Ministry of the Interior and Safety in a bid to raise awareness of children’s road and traffic safety. DataStreams’ chief, as well as four executive members and employees, have joined the relay campaign following an invitation from TSE CEO
Aug. 24, 2021
-
Medytox hires top law firm, prepares for future lawsuits
South Korean drugmaker Medytox said Tuesday that it has hired Quinn Emanuel Urquhart & Sullivan, a top international law firms, to better respond to intellectual property infringements and misappropriations of the company’s botulinum toxin product. Quinn Emanuel is a law firm specializing in intellectual property litigations, and they are widely known here for representing Samsung Electronics in the company‘s lawsuits against Apple and Huawei. “The US International Trad
Aug. 24, 2021
-
Korea to launch new mining agency on Sept. 10
South Korea will launch a new public agency to oversee metals, minerals and mining affairs next month, amid growing concerns over the future availability of raw materials critical to the country’s backbone industries, the government said Tuesday. The new entity, Korea Mine Rehabilitation & Mineral Resources Corp., will be officially formed on Sept. 10 by combining two existing bodies -- Korea Resources Corp. and Mine Reclamation Corp. Its launch received final approval from the Ca
Aug. 24, 2021
-
GM Korea workers OK company's wage offer
Unionized workers at GM Korea Co., the South Korean unit of General Motors Co., accepted the company's revised wage proposals for the year, the union said Tuesday. In their second vote held Monday and Tuesday, some 65 percent of GM Korea's unionized workers agreed to accept the revised proposals that newly include 300,000 won ($260) worth of repair coupons for Chevrolet brand vehicles and 200,000 won worth of gift certificates for traditional markets, union spokesman Cho Ha-soo said over the p
Aug. 24, 2021
-
Seoul stocks soar over 1.5% on eased US tapering woes
South Korean stocks advanced more than 1.5 percent Tuesday to extend their gains for a second day in a row on strong tech gains, as investors' woes eased over the upcoming discussions about US tapering. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 48.09 points, or 1.56 percent, to close at 3,138.3 points. Trading volume was moderate at about 578 million shares worth some 14.7 trillion won ($12.6 billion), with gainers outnumbering l
Aug. 24, 2021
-
Fintech firms urge smooth passage of e-payment law over Mergeplus fiasco
The Korea Fintech Industry Association said Tuesday that lawmakers must move forward with the critical Electronic Financial Transactions Act, which has been at an impasse at the National Assembly for several months, joining earlier calls from some politicians and the central bank in the wake of the Mergeplus fiasco. The association, which represents 330 fintech companies, said that the Mergeplus incident was “predictable.” Without the revision of the EFTA -- which had not under
Aug. 24, 2021
-
Korea plans another W605tr 'super budget' for 2022
South Korea plans to draw up another record-breaking budget of some 605 trillion won ($518.4 billion) for next year to strengthen the nation’s social safety net largely hurt by the prolonged pandemic, the ruling Democratic Party and the government said Tuesday. The so-called “super budget package” allows the Moon Jae-in government and his party to financially assist self-employed, small-business owners and low-income families, and to provide full college tuition from the thir
Aug. 24, 2021