Most Popular
-
1
Blinken calls on China to press N. Korea to end its 'dangerous' behavior
-
2
New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
-
3
Tensions heighten ahead of first president-opposition chief meeting
-
4
Seoul to provide housing subsidy to married couples with newborns
-
5
[Weekender] How DDP emerged as an icon of Seoul
-
6
Rapper jailed after public street fight with another rapper
-
7
Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
-
8
Woman gets suspended term for injuring boyfriend with knife
-
9
[KH Explains] No more 'Michael' at Kakao Games
-
10
NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
-
S. Korea atop Q1 chip equipment spending chart: report
South Korea was the world's largest spender on chip equipment in the first quarter of the year, a report showed Thursday, amid a global semiconductor shortage. South Korea, home to major memory chip producers Samsung Electronics Co. and SK hynix Inc., spent $7.31 billion in chipmaking equipment in the January-March period, up 118 percent from a year ago, according to quarterly billings data from SEMI, a global industry association representing companies in the electronics design and manufactur
June 3, 2021
-
Hyundai, Kia's US sales on roll in May
Hyundai Motor Co. and affiliate Kia Corp., South Korea's two biggest carmakers, said Thursday their combined US sales again broke their monthly record for the third consecutive month in May thanks to the popularity of their SUV models. Hyundai and Kia sold a combined 170,315 vehicles in the United States last month, up 64.6 percent from a year ago, according to the companies' sales data. Both Hyundai and Kia, which together form the world's fifth-biggest carmaker by sales, reported the
June 3, 2021
-
Seoul stocks open higher on Wall Street gains
South Korean stocks opened higher Thursday on overnight Wall Street gains, backed by the US Federal Reserve's economic diagnosis that partially eased market jitters over early post-pandemic inflation. The benchmark Korea Composite Stock Price Index (KOSPI) rose 16.09 points, or 0.5 percent, to reach 3,240.32 points in the first 15 minutes of trading. The tech-heavy Nasdaq Composite gained 0.14 percent, following the Fed's reiteration of its stance that the ongoing price hike is likely transien
June 3, 2021
-
Finance minister warns of adjustments in home prices
Finance Minister Hong Nam-ki on Thursday voiced "deep" concerns about one-sided expectations that housing prices will likely continue to rise in the second half. The minister said housing prices may stabilize as the government has a strong commitment to curbing high-flying home prices. "Market players need to be vigilant against one-sided anticipation for the housing market," Hong said at a pan-government meeting on the property market. He also cited talks of an early tape
June 3, 2021
-
S. Korea's dependency on Japan materials, parts hits new low
South Korea's dependency on Japanese materials and parts plumbed an all-time low this year in the wake of Tokyo's control on exports of key products, government data showed Thursday. Imports of Japanese materials and parts came to $9.69 billion in the January-April period, accounting for 15 percent of South Korea's overall imports of those goods, according to the data from the industry and trade ministry. The proportion was down 1.1 percentage points from the same period a year earlier and the
June 3, 2021
-
FX reserves hit record high in May on weaker dollar
South Korea's foreign reserves rose to a record high in May as the US dollar's weakness improved the value of non-dollar assets, central bank data showed Thursday. The nation's foreign reserves came to $456.4 billion as of end-May, up $4.15 billion from the previous month, according to the Bank of Korea (BOK). Foreign reserves consist of securities and deposits denominated in overseas currencies, International Monetary Fund reserve positions, special drawing rights and gold bullion. The FX re
June 3, 2021
-
Kia’s EV6 comes with sleek design, long driving range
For South Korea’s second-largest carmaker Kia, its sister brand Hyundai Motor is both the closest partner and biggest rival in the fast expanding battery electric vehicle market. Set to deliver the EV6 in the later half of the year, Kia has chosen to emphasize the extensive driving range and harmonious design proportion -- vying with Hyundai Motor’s Ioniq 5, which is noted for its spacious interior and futuristic design. Earlier this week, the carmaker unveiled the EV6 to the medi
June 3, 2021
-
[Herald Interview] Understanding blockchain through investor’s eyes
Just as people are getting used to the concept of cryptocurrencies, new terms like “DeFi,” nonfungible token and metaverse have become the talk of the town. While an increasing use of NFTs opens up a wide range of virtual services in the metaverse, investors are seeing huge business opportunities from these technologies that could reshape the digital world. And some are moving quickly to back novice blockchain startups with fresh ideas and potential. The Korea Herald met Ethan Ki
June 2, 2021
-
S. Korean companies rush to develop mRNA vaccine tech
South Korean pharmaceutical and biotechnology companies are taking the initiative in the messenger RNA vaccine sector in hopes of developing new COVID-19 vaccines and building their capabilities to counter the next pandemic. Samsung Biologics, a major contract manufacturer of drugs, plans to add an mRNA vaccine production line at its facility in Songdo, Incheon, to potentially manufacture ingredients for new mRNA vaccines. ST Pharm, GeneOne Life Science and Hanmi Science are bent on developing
June 2, 2021
-
SK Lubricants expects 100% surge in lubricant sales for EVs
SK Lubricants, a subsidiary under SK Innovation, said Wednesday that its lubricant sales for electric vehicles is expected to double on-year, buoyed by a growing demand for EVs. The market size for EV lubricants will grow as much as six times by 2025, as the number of EVs, which stood at 3.94 million this year, will jump to 11.26 million by 2025, according to IHS Markit. EVs, which accelerate faster than gas-powered cars, require much more efficient lubricants that can cool down motors, gear
June 2, 2021
-
Seoul stocks gain for 4th day on economic rebound signals
South Korean stocks advanced for the fourth session in a row Wednesday, backed by strong economic data fueled expectations of an increase in corporate earnings and a quick economic rebound from the pandemic. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 2.36 points, or 0.07 percent, to close at 3,224.23 points. Trading volume was moderate at about 1.5 billion shares worth some 17.5 trillion won ($15.7 billion), with gainers outnumbering
June 2, 2021
-
Companies increasingly adopt 'vaccine leave' amid accelerating inoculation drive
Samsung Electronics Co., Hyundai Motor Co. and other major South Korean companies are increasingly adopting "paid vaccine leave" for their employees as the country's vaccine rollout gathers pace and more workers get vaccinated. The companies, including retail giant Lotte Group, pharmaceutical firms and game publishers have introduced vaccine leave from one to three days depending on their employees' symptoms after vaccinations, industry sources said Wednesday. On Tuesday, Hyundai Mot
June 2, 2021
-
Starbucks’ reusable cup pilot program to kick off on Jeju
Starbucks Korea will ditch single-use cups at four of its stores on Jeju Island from next month, serving its coffee in reusable cups instead, the company announced Wednesday. Starting from July 6, customers at the four stores located at Seohaean-ro, Aewol, Chilseong and Hyeop-jae will be served beverages in reusable cups that require a deposit fee of 1,000 won ($0.90), refundable upon return. They can reclaim the deposit at any of the four stores or at a multiuse cup return machine installed
June 2, 2021
-
Inflation surge puts S. Korea on edge
South Korea’s consumer prices grew at their sharpest pace in nearly a decade in May, data from Statistics Korea showed Wednesday, feeding inflation concerns and drawing divided reactions from officials and experts. The consumer price index gained 2.6 percent on-year in May, marking the fastest pace of growth since April 2012. The corresponding figure for April 2012 also stood at 2.6 percent. The price index gained 2.3 percent on-year in April, which sent jitters across a market still a
June 2, 2021
-
Seoul braces for Tylenol shortage as vaccine rollout gathers speed
As the COVID-19 vaccination campaign gathers speed in South Korea, branded Tylenol is running short as people rushed to secure the painkiller to prepare for potential side effects of the jabs, industry data showed Wednesday. Worried about a serious supply shortage similar to those of masks and hand sanitizers in the early stage of the pandemic, experts set out to encourage people to go for alternative medicines with the same key ingredient and function. The top three convenience store chain
June 2, 2021
-
Singer IU buys W13b residence in Seoul in cash
Singer and actress IU has purchased a high-end villa unit in Cheongdam-dong, a posh district in Seoul, for 13 billion won ($11.7 million) in cash, according to news reports Wednesday. The singer bought a residential unit of Eterno Cheongdam, currently under construction by Hyundai Engineering & Construction, according to local news outlet Biz.Hankook. The 20-story villa with four floors underground has one or two residential units on each floor starting from the second floor above ground.
June 2, 2021
-
Ruling party mulls universal cash relief before Chuseok
The ruling Democratic Party is considering a new round of COVID-19 emergency cash handouts for all nationals before the Chuseok holiday as social distancing rules have continued to weigh on the local economy, according to party officials Wednesday. “Another round of universal COVID-19 response stimulus checks backed by a second extra budget is urgently needed,” said Yun Ho-jung, the ruling Democratic Party floor leader. “(The party) will kick off a review of fiscal stra
June 2, 2021
-
Hyundai Glovis debuts EV-optimized shipping system
Hyundai Glovis, the logistics arm of Hyundai Motor Group, said Wednesday that it has established the world’s first marine shipping system optimized for electric vehicles, in step with the swiftly expanding eco-friendly car market. The company has recently renewed its manual for EV ocean transportation and applied it to the loading, shipping and unloading procedures. Due to the battery cell installed at the bottom layer of the vehicle, EVs require additional care than conventional int
June 2, 2021
-
KITA, SME Ministry co-host trade fair to promote Korean exports to Central and South America
The Korea International Trade Association helped local small and medium-sized companies and startups tap the Central and South American markets with a two-day trade fair for South Korean consumer goods this week, the state-run agency said Wednesday. The K-Consumer Goods and Exports Fair was held Tuesday and Wednesday, both online and offline at Seoul’s Coex and Bogota’s Corferias convention center, in cooperation with Seoul’s Ministry of SMEs and Startups. It was KITA’s
June 2, 2021
-
Corporate loan growth accelerates in Q1 amid pandemic
Loans extended to companies in South Korea grew by the largest amount in three quarters in the first quarter of the year as loan demand by the service sector increased amid the pandemic, central bank data showed Wednesday. The outstanding amount of corporate loans came to 1,435.8 trillion won ($1.3 trillion) at the end of March, up 42.1 trillion won from three months earlier, according to the data from the Bank of Korea (BOK). The reading also marked the largest on-quarter gain since a 69.1 tr
June 2, 2021