Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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Biomedicines, batteries and OLEDs key export drivers
Biomedicines, batteries and OLED panels are rising as key drivers of exports in South Korea, which Seoul officials see as a hopeful sign of the economy becoming more resilient and future-oriented. According to the Ministry of Trade, Infrastructure and Energy on Sunday, the first half of 2021 reinforced a continuing trend of seven product categories, identified by the government as new growth items, making bigger contributions to the country’s total exports. The seven are bio and health
July 4, 2021
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Visang Tax, Pharos Consulting to help taxpayers get back overpaid taxes
Visang Tax and Pharos Consulting signed a memorandum of understanding to work together to help taxpayers protect their rights by checking whether they have overpaid taxes, at a ceremony held in Seoul on Thursday. The agreement involves a measure called “claim for reassessment” and the two firms plan to run a one-stop service in which clients from conglomerates, small and medium-sized enterprises and small businesses reassess their tax payment to check whether there are any errors i
July 4, 2021
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[Photo News] Art museum at home
Art is displayed on an LG Electronics’ OLED TV in this promotional image released by LG Electronics on Sunday. The South Korean home appliance brand has collaborated with local cultural and art content provider Polestar Art to add the K-Fine Art theme on its OLED Gallery app so customers can enjoy Korean artists’ works for free, the firm said. (LG Electronics) (khnews@heraldcorp.com)
July 4, 2021
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[Newsmaker] How Minecraft became R-rated game in S. Korea
Minecraft is a 3D computer game where players can build anything. Often described as “online Legos,” the bestselling video game of all time involves building blocks and creating structures across different environments and terrains. Rated as suitable for ages 7 and up, some schools have started to incorporate Minecraft into the classroom, as kids can naturally learn teamwork, problem-solving skills and basic programming while playing the game with friends and helping each other bu
July 4, 2021
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Oil prices in S. Korea hit 33-month high
Retail oil prices in South Korea rose for the ninth consecutive week to reach the highest level in nearly three years amid a global oil rally, data showed Sunday. The average gasoline price nationwide was 1,600.9 won ($1.40) per liter in the fifth week of June, edging up 13.5 won from a week earlier, according to the data provided by the state-run Korea National Oil Corp. (KNOC). The gasoline price surpassed the 1,600 won level for the first time since November 2018. Diesel prices also gained
July 4, 2021
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Coupang investigated by FTC over accusations of meddling with algorithms
South Korea’s antitrust watchdog has launched a probe into e-commerce giant Coupang over the accusation that the company has meddled with algorithms to prioritize its own products, according to multiple reports on Sunday. According to the reports, the Korea Fair Trade Commission conducted an on-the-spot inspection at Coupang’s headquarters office in Seoul late last month following accusations that it had violated the Fair Trade Act. One of the accusations claims that Coupang had me
July 4, 2021
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Demand for courier service soared during pandemic: study
As the coronavirus pandemic swept across Korea, courier services enjoyed a surge in popularity, a new study has revealed. The average number of times people used a courier service rose from 6.22 per month to 9.74 after the pandemic began, according to the recent study, the Korea Transport Institute said Sunday. The study was conducted by researchers at the institute with a sample of 1,153 respondents during November last year to highlight the differences in how people use delivery services in
July 4, 2021
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FSC to decide on major Samsung Life’s shareholders
South Korea’s top financial regulator will give a ruling on whether the late Samsung Group Chairman Lee Kun-hee’s two daughters -- Hotel Shilla CEO Lee Boo-jin and Samsung Welfare Foundation chief Lee Seo-hyun -- are qualified to become major shareholders of Samsung Life Insurance. This decision is expected to go in their favor, paving their way to become the company’s largest shareholders, industry sources said on Sunday. The policymaking Financial Services Commission is sl
July 4, 2021
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[Contribution] Banks’ role as ‘catalyst for change’ to support transition to net zero economy
South Korea has been a great experience for our family since relocating here with HSBC in late 2018. Our daughter who recently turned four is happily growing up. For those who know me, I’ve always been a big believer that one can learn a lot from kids. From the endless creativity and ever more sophisticated negotiating skills to little things they learn from school, the thought-provoking interactions often provide valuable reflections on life and how we should think about future g
July 4, 2021
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Samsung SDI's EV battery biz to swing to profit in Q2: analysts
Samsung SDI Co.'s electric vehicle (EV) battery business is expected to have turned to operating profit for the first time in the second quarter on strong demand by global automakers, analysts said Sunday. Samsung SDI Co., the battery arm of Samsung Electronics Co., was forecast to have posted 3.4 trillion won ($3 billion) in sales and 252.7 billion won in operating profit in the April-June period, according to the data from 15 local brokerage houses compiled over the past month. Samsung SDI's
July 4, 2021
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S. Korea to offer sea radiation level via website
South Korea's oceans ministry said Sunday it plans to launch a new platform to provide the latest information on the radiation level in local seas to the public amid growing safety concerns over Tokyo's planned release of contaminated water. "We plan to minimize the public's concerns over the safety of our waters and seafood, and bolster monitoring on the radiation level of the ocean," the Ministry of Oceans and Fisheries said in a statement. In April, the Japanese government said it
July 4, 2021
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Hyundai, Kia's eco-friendly car sales in S. Korea surge 39% in H1
Hyundai Motor Group's eco-friendly vehicle sales in South Korea jumped nearly 40 percent in the first half of this year compared with a year earlier on strong demand for hybrid models and new electric vehicles, its sales data showed Sunday. The combined domestic sales of eco-friendly models by the Korean automotive group's two affiliates -- Hyundai Motor Co. and Kia Corp. -- stood at 94,435 units in the January-June period, up from 67,798 units a year ago, according to their sales data. Among
July 4, 2021
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[Weekender] With an eye on the future, financial firms don VR goggles
The emergence of the “MZ generation” -- those born in the 1980s and ‘90s -- has brought significant change in South Korea’s financial landscape, pushing its conservative players to navigate uncharted territory in the technological era. Financial institutions are embracing the technological shift from physical space to digital sphere with big-name bankers experiencing the virtual world via VR headsets and holding executive meetings in “metaverse” online setti
July 3, 2021
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Seoul stocks tipped to rebound next week amid earnings hope
South Korean stocks are likely to rebound next week, as optimism for strong corporate earnings is expected to buffer growing virus concerns, analysts said Saturday. The benchmark Korea Composite Stock Price Index closed at 3,281.78 points on Friday, down 0.64 percent from a week ago. The KOSDAQ closed the week at a 52-week high for the second consecutive day at 1,038.18 points. The country's virus situation is getting worse, with the daily caseload continuing to increase amid woes over sprea
July 3, 2021
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LG invests W100b in Kakao Mobility
LG Corp., the holding company of Korea’s fourth-biggest conglomerate, on Friday inked a 100 billion-won ($88 million) investment deal with Kakao Mobility as part of efforts to discover new opportunities in future mobility. Both sides did not reveal how much stake LG would acquire in the digital transportation service app operator with the latest deal. LG said the investment was made as part of considerations to develop potential synergy between the conglomerate’s affiliates and
July 2, 2021
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SK Energy, Kepco team up to facilitate domestic EV supply
SK Energy and Korea Electric Power Corp. agreed to jointly develop automotive services to promote the use of electric vehicles in the country, SK said Friday. SK Energy, South Korea’s leading oil refinery and gas station operator, said it is partnering with the state-run electricity provider Kepco, which operates the country’s largest EV charging infrastructure business, to expand its EV service business. SK Energy P&M CIC Chief Executive Officer Oh Jong-hoon and Kepco Vice
July 2, 2021
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Korea’s tax agency joins European tax body to support companies’ overseas expansion
South Korea’s National Tax Service has joined a nonprofit European tax body in a bid to enhance cooperation with member countries and provide policy support for local companies making forays into the European market. The Intra-European Organization of Tax Administrations approved South Korea’s entry as an associate member -- the first in Asia -- at the 25th General Assembly held through video conferencing from Wednesday to Friday. The IOTA consists of 44 member countries from the
July 2, 2021
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SK Biopharm aims to crack ranks of world’s top 10 health care companies
South Korean central nervous system drug developer SK Biopharmaceuticals CEO Cho Jeong-woo vowed to help the firm attain a value of 50 trillion won ($44.02 billion) by 2030 and make the list of the world’s top 10 health care firms. SK Biopharm shared its latest corporate vision during an online event titled “Financial Story,” held Friday. During the event, SK Biopharmaceuticals presented detailed strategies to achieve the goal. SK Biopharm said the company would launch mor
July 2, 2021
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Samsung Electronics, SK hynix likely to be subjected to new global tax rules
South Korean conglomerates Samsung Electronics and SK hynix are likely to be subject to a global minimum tax rate that multinational companies will have to pay regardless of where their headquarters are. Some 130 countries and jurisdictions, representing more than 90 percent of global gross domestic product, endorsed a set of tax plans aimed at addressing the tax challenges arising from the digitalization of the economy, according to the Paris-based Organization for Economic Cooperation and D
July 2, 2021
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S. Korea to maintain expansionary fiscal policy, slowly shift toward monetary tightening
South Korea’s fiscal policy will be expansionary but its monetary policy could turn slightly more hawkish, the respective chiefs in charge of each said Friday. Both said their solutions would minimize the economic woes stemming from the COVID-19 pandemic. Finance Minister Hong Nam-ki met Friday with Bank of Korea Gov. Lee Ju-yeol amid controversy over policy discord. There have been strong signals of a rate hike by the end of the year from the central bank, and the government recently unv
July 2, 2021