Most Popular
-
1
Blinken calls on China to press N. Korea to end its 'dangerous' behavior
-
2
S. Korea, Japan could consider simplified entry agreement: Seoul official
-
3
New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
-
4
[Weekender] How DDP emerged as an icon of Seoul
-
5
[Herald Interview] Guggenheim Museum makes a push for technology-based art with LG
-
6
Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
-
7
Tensions heighten ahead of first president-opposition chief meeting
-
8
'The Roundup: Punishment' becomes fastest 2024 film to top 2 mln admissions
-
9
New chief named to anti-corruption body
-
10
[Music in drama] An ode to childhood trauma
-
Over half of Korean adults under financial stress: survey
More than half of adults in South Korea have suffered from anxiety and depression because of their financial status over the last year, a recent survey showed Wednesday. The survey of 2,000 people aged between 20 and 64, conducted by Korea Financial Consumer Protection Foundation late last year, showed that 58.1 percent of the respondents had experienced high levels of stress and self-injurious behaviors. About 3.2 percent of the participants even thought about suicide due to their worsened fi
May 26, 2021
-
Korea to build mega biomedical database by 2028
The government will spend some 1 trillion won ($894.8 million) on building a mega database to collect medical information of 1 million people in a bid to foster the biohealth industry as a new growth engine, officials said Wednesday. “In response to the rapidly changing biotechnology industry environment, we will provide all-round support, such as R&D intensive investment in core technologies, including new drugs and innovative medical devices; commercialization support; expansion of
May 26, 2021
-
Businesses shun hiring amid COVID-19
South Korea’s major businesses saw their total number of staffers shrink by nearly 10,000 since the onset of the COVID-19 pandemic as conglomerates reduced new recruits and distributers carried out restructuring, industry data showed Wednesday. Meanwhile, the number of irregular workers in the country soared by almost 2,000 during the same period, reflecting the overall deterioration in the quality of jobs. According to a survey conducted by corporate tracker CEO Score of 309 of the n
May 26, 2021
-
Battery makers all out for market initiative in US, EU
As the battery electric vehicle market remains strong, South Korea’s battery makers are aggressively adding momentum to their global investments and are seeking production capacities in the US and EU markets, data showed Wednesday. According to energy market researcher SNE Research, global demand for battery electric vehicles is expected to reach 51.8 million by 2030, up 17 times from the end of 2020. The corresponding demand for batteries will likely expand some 23 times during the
May 26, 2021
-
Seoul stocks finish slightly lower on investors' wait-and-see mode
South Korean stocks closed slightly lower after choppy trading Wednesday as investors took to the sidelines amid lingering concerns of early post-pandemic inflation. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.89 points, or 0.09 percent, to close at 3,168.43 points. Trading volume was moderate at about 1.3 billion shares worth some 13 trillion won ($11.6 billion), with gainers outnumbering losers 515 to 337. Foreigners sold a net 3
May 26, 2021
-
Korean-German Chamber of Commerce appoints new president
The Korean-German Chamber of Commerce and Industry announced Wednesday it has appointed Martin Henkelmann as the institution’s new CEO and president. Henkelmann practiced as a lawyer in Germany and has more than 20 years of experience working with private companies and government organizations. He built his career at the German Insurance Association, one of the largest business associations in his home country. Henkelmann later moved on to the public sector, taking leadership roles at
May 26, 2021
-
SKC aims to be world’s largest copper foil producer by 2025
South Korean chemicals maker SKC is considering a plan to expand its production of copper foil to 250,000 metric tons with a goal of becoming the world’s largest provider by 2025, the SK Group affiliate said Wednesday. SK nexilis, the copper making unit under SKC, will build a new copper foil factory with an annual capacity of 50,000 tons in Europe later this year to meet growing demand for the material, a key component of rechargeable batteries. Copper foil is as thin as one-fifteent
May 26, 2021
-
Posco begins construction of lithium hydroxide plant in Gwangyang
Posco broke ground on a 760 billion-won plant for lithium hydroxide, a key material for electric vehicle batteries, in Gwangyang, South Jeolla Province, the company said Wednesday. The factory, to occupy a 196,000-square-meter plot inside the Yulchon Industrial Complex in Gwangyang, would have an annual production capacity of 43,000 metric tons of lithium hydroxide, a volume enough to produce 1 billion electric vehicles, the company said. The construction is expected to complete in 2023.
May 26, 2021
-
K bank’s capital jump to W2.1tr with inflow of new shareholders
K bank, South Korea’s first Internet-only lender, more than doubled its paid-in capital via share purchases from major private equity funds, the bank said Wednesday. The move comes as the company gears up for the further growth amid heightened competition from other digital banks including Kakao Bank and Toss Bank. The board of directors of K bank on Wednesday morning made the decision to increase the amount of capital by 1.25 trillion won ($1.11 billion) or 192.29 million shares, to
May 26, 2021
-
Coupang Eats offers loyal delivery workers 6,500 won per delivery
Food delivery service Coupang Eats will drastically hike delivery incentives for veteran delivery workers in a trial next month amid growing competition to secure more drivers. In a recent announcement to a select group of its drivers, the company said seasoned delivery workers can claim up to 6,500 won ($5.79) per delivery, more than double the regular delivery fee of 2,500 won given to Coupang Eats drivers per delivery. To receive the higher “Legend” wage, workers must have carr
May 26, 2021
-
NTS chief seeks mutual taxation agreement with Indonesia
The chief of the National Tax Service of South Korea has approached Indonesia in hopes of revitalizing the mutual agreement procedure and advance pricing arrangement between the two countries to prevent double taxation and ease uncertainties for trading firms, according to the tax agency Wednesday. NTS Commissioner Kim Dae-ji visited Jakarta on Tuesday to meet with Indonesia’s tax authority, Commissioner Suryo Utomo. During the meeting, they discussed ways to maintain close interaction an
May 26, 2021
-
LG Innotek recognized for product quality by global car maker
LG Innotek, LG Group’s materials and components maker, received the Jaguar Land Rover Quality Certificate from the global car maker, the company announced Wednesday. Jaguar Land Rover awards a quality excellence certificate to one supplier every year based on quality and the supplier’s adherence to delivery schedule. LG Innotek has been supplying a DC-DC converter product to the automaker since 2017. A DC-DC converter is a key component used in hybrid and electric cars. This
May 26, 2021
-
S. Korea vows financial support to boost overseas green projects
The South Korean government said Wednesday it will expand financial support for domestic companies in green sectors to make inroads into the global market, in partnership with the Green Climate Fund. Launched in late 2010, the South Korea-based United Nations climate fund aims to channel money from industrialized nations to developing countries to help them tackle climate change-related problems. Finance Minister Hong Nam-ki and Yannick Glemarec, executive director of the GCF, agreed to inc
May 26, 2021
-
Genesis G80 earns top safety award from IIHS
South Korean luxury car brand Genesis' G80 sedan has earned the highest safety rating from the Insurance Institute for Highway Safety (IIHS), the US auto safety organization said Wednesday. The G80 earned TOP SAFETY PICK+ by qualifying for a wide range of IIHS collision tests, including front crash prevention in vehicle-to-vehicle crashes and pedestrian front crash prevention, the US institute said on its website. To qualify for the IIHS' highest safety rating, a vehicle has to earn a high sc
May 26, 2021
-
LG CNS introduces upgraded security services under new brand
LG CNS Co., South Korea's major IT service firm, on Wednesday introduced upgraded security services under a new brand in a move to expand its presence in the cybersecurity sector. LG CNS said all of its security-related services, covering from cloud to smart factories, will be named under the brand of SecuXper, which combines the words "security" and "expert." With the new brand, LG CNS said it reinforced its security workforce, which includes some 200 cybersecurity exper
May 26, 2021
-
Doosan Infracore wins orders for 75 excavators from Saudi Arabia
South Korea's top construction equipment maker Doosan Infracore Co. said Wednesday that it has signed a deal to provide 75 excavators to Saudi Arabian builders. The deal consists of 70 22-ton excavators and five 50-ton excavators, the company said in an emailed statement. But it did not reveal the value of the deal. The excavators will be used for the construction of Neom City being built in the western part of the Middle Eastern country and to maintain and repair the country's power generat
May 26, 2021
-
KT to develop insurance programs for service robots
KT Corp., a major telecom firm in South Korea, said Wednesday it has joined hands with a local insurer to develop insurance coverage programs for service robots. KT signed a partnership with DB Insurance Co. to offer insurance programs dedicated solely to artificial intelligence (AI)-powered services. Starting next month, the telecom giant will collect data on possible robotics errors and accidents for a year under the liability coverage program offered by DB Insurance. Based on that data, th
May 26, 2021
-
LG Electronics to run nighttime clerkless shops in S. Korea
LG Electronics Inc. said Wednesday it will run some of its shops in South Korea clerkless during nighttime as the home appliance maker tries to attract more consumers amid the pandemic-induced contactless trend. LG said its nine stores, including six shops in Seoul, will operate without clerks from 8:30 p.m. to midnight daily, becoming the first electronics firm in the country to adopt such a system. Users can enter unmanned shops after scanning a QR code. Inside the store, they can use kios
May 26, 2021
-
SK nexilis to build copper foil factory in Europe
SK nexilis Co., a chemical unit of South Korean conglomerate SK Group, said Wednesday it will build a new copper foil factory in Europe to meet growing demand for the essential material for rechargeable batteries. SK nexilis, the copper making unit under SKC Inc. said it will expand its manufacturing capacity to over 200,000 tons a year by 2025, up from the current capacity of 43,000 tons. Copper foil is as thin as one-fifteenth of human hair and is used as the anode current collector
May 26, 2021
-
Samsung ranks 2nd in Q1 chip sales: report
Samsung Electronics Co. was the world's second-largest semiconductor vendor in the first quarter of the year, a report showed Wednesday, after posting double-digit year-on-year sales growth. The South Korean tech juggernaut logged $17.07 billion in chip sales in the January-March period, up 15 percent from a year earlier, according to the latest McClean Report released by market researcher IC Insights. Samsung, the world's largest memory chip supplier, racked up $16.15 billion in integrated
May 26, 2021