Most Popular
-
1
Korean labor force to shrink by 10 million by 2044: report
-
2
[AtoZ Korean Mind] Does your job define who you are? Should it?
-
3
Allegations surrounding BTS resurface, enraged fans demand apology
-
4
Students with history of violence will be barred from becoming teachers
-
5
Probe of first lady on Dior bag allegations set to begin
-
6
'Super Rich in Korea' will leave viewers appreciating Korea more: producers
-
7
Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
-
8
Medical feud leaves hospitals in financial crisis
-
9
'Queen of Tears' riding high on Netflix chart
-
10
Chip up cycle won’t stay long: SK chief
-
Cash-strapped Doosan Heavy improves financial health via self-rescue plan
Cash-strapped Doosan Heavy Industries & Construction Co. has improved its financial health this year by selling new shares and assets and receiving financial help from its holding company Doosan Corp. and key shareholders, a local rating appraiser said Thursday. "Doosan Heavy has been improving its financial status and reducing its debts on the back of Doosan Group's self-rescue plan," NICE Investors Service said in its report. The rating agency retained Doosan Heavy's long-term
Dec. 31, 2020
-
LG Energy Solution ranks second in EV battery market in Jan.-Nov. period
South Korean battery maker LG Energy Solution Ltd. was the second-biggest supplier of electric vehicle (EV) batteries in the first 11 months of the year following China's CATL, a market research firm said Thursday. LG Energy Solution, which spun off from LG Chem Ltd. earlier this month, shipped 26.4 gigawatt-hour (GWh) equivalents of EV batteries in the January-November period, accounting for 22.6 percent of the global market, according to the data by SNE Research. China's CATL supplied 24.4 G
Dec. 31, 2020
-
S. Korea's consumer prices grow less than 1% for 3rd month in Dec.
South Korea's consumer prices grew less than 1 percent for the third straight month in December, data showed Thursday, indicating low inflationary pressure in Asia's fourth-largest economy amid the new coronavirus outbreak. For the whole year, the annual inflation rose by less than 1 percent for the second consecutive year for the first time due largely to the fallout of the pandemic. The consumer price index rose 0.5 percent on-year in December, slowing from a 0.6 percent on-year gain the pre
Dec. 31, 2020
-
Iraq signs $2.625b Faw port contract with Daewoo E&C
Iraq agreed a $2.625 billion deal with South Korea's Daewoo Engineering & Construction on Wednesday to build the first phase at its planned Faw commodities port in the south of the country. Under the contract, signed in Baghdad by representatives of Iraq's transportation ministry and the South Korean company, Daewoo E&C will handle construction work including building fiveberths to unload ships and a yard for containers. (Reuters)
Dec. 30, 2020
-
South Korea will e-connect for New Year celebrations
New Year’s events are no exception to social distancing rules against COVID-19. People in South Korea will have to “e-connect” for the upcoming New Year’s celebrations, as the government maintains strict antivirus measures that include a ban on large gatherings. The annual bell-ringing ceremony on New Year‘s eve at the Bosingak Pavilion in Jongno in central Seoul will go virtual, as the Seoul Metropolitan Government officially canceled the in-person event for t
Dec. 30, 2020
-
Cloud of uncertainty over Samsung as chief Lee faces possible jail time
The country’s largest conglomerate Samsung has been left unsure of what its future holds as its de facto chief faces possible jail time for corruption. Whether or not Lee Jae-yong will be put behind bars again in the finale of a three-year court saga, leaving a void at the top of the world’s No. 1 chipmaker, will be decided by a Seoul court in January. Samsung Electronics on Wednesday appeared calm, at least on the surface, after local prosecutors demanded nine years in prison fo
Dec. 30, 2020
-
[News Focus] COVID-19 vaccines: What’s coming and when?
South Korea’s COVID-19 vaccine plans are slowly taking shape. Once shrouded in secrecy, the government is no longer holding back in sharing the outcomes of negotiations with individual vaccine firms in securing the doses necessary for the country. As of Wednesday, Korea has signed deals with AstraZeneca, Janssen and Pfizer-BioNTech, and is in close talks with Moderna, on top of the vaccines it is to receive through the global nonprofit COVAX facility. According to what is known through
Dec. 30, 2020
-
Kospi hits another fresh high on final trading session of 2020
South Korea’s stock market ended its final trading session of the year on Wednesday, hitting another fresh high on market expectations for the chip industry. After a roller-coaster ride this year, the Kospi closed at 2,873.47, up 52.96 points or 1.88 percent from the previous session’s close. It began trading slightly lower at 2,820.36, but the index began moving in afternoon trading. Both foreign and institutional investors became buyers, scooping up a net 249 billion won ($229.
Dec. 30, 2020
-
[Best Brand] Lotte leads digital transformation of duty-free stores
The COVID-19 pandemic has decimated international travel, and duty-free stores have bore a large portion of the brunt. Lotte Duty Free, the No. 1 player in the local market, looked beyond present troubles and embraced contactless and smart shopping as the new normal for the duty-free industry. In an industry first, the company introduced a “smart store” that incorporates digital technologies and minimizes face-to-face contacts between shoppers and clerks. Located on the fi
Dec. 30, 2020
-
[Best Brand] GeniRobot’s coding education robot goes global
South Korean education technology company GeniRobot is targeting the global education robot market with its all-in-one coding robot Genibot. Despite growing demand for coding education, the global education robot market -- estimated at $60 billion with a projected annual growth of 24 percent -- lacks suitable products. In just six months after its launch, GeniRobot’s Genibot recorded sales of more than 20,000 units at home and abroad. “GeniRobot is planning an expansion t
Dec. 30, 2020
-
[Best Brand] aT adapts to contactless era for global K-Food boom
Even during the COVID-19 pandemic, Korean food continued to captivate the palates of global consumers. As of end-November, exports of Korean agricultural and food products, including kimchi and instant noodles, rose 6.84 percent on-year to $6.8 billion. Behind the growth is the Korea Agro-Fisheries & Food Trade Corp, frequently referred to as aT, a state-run agency tasked with promoting Korean food overseas. With major international food fairs canceled, the company organized online event
Dec. 30, 2020
-
[Best Brand] Lemonex recognized for innovative drug delivery tech
Global biotherapeutics and bioengineering firm Lemonex won a ministerial award for its innovative next-generation drug delivery technology called DegradaBALL. At the 12th Innobiz Company Award held Dec. 17 -- sponsored by the Ministry of SMEs and Startups and hosted by The Korea Herald and the Herald Business -- Lemonex received an Industry and Energy Ministerial prize for the innovative technology. DegradaBALL is Lemonex’s original technology that delivers novel drug candidates to topi
Dec. 30, 2020
-
South Korea’s 5G network slightly improves, LTE downgraded
South Korea‘s 5G quality and coverage have slightly improved in the second half of the year, said the Ministry of Science and ICT on Wednesday. The overall quality of Long-Term Evolution networks here, however, have degraded, it said in a report. SK Telecom’s 5G network showed the fastest average download speed at 795.57 megabits per second. KT followed at 667.48 Mbps, with LG U+ at 608.49 Mbps. SKT is the country‘s largest mobile carrier in terms of subscribers, followed by
Dec. 30, 2020
-
[Best Brand] Lotte Card appeals to customers with diversified benefits
Credit card provider Lotte Card has recently rolled out a new reward system that covers all of its LOCA branded credit cards. The new reward system offers convenience for credit card subscribers, as they don’t need to spend time working out which credit card offers the most benefits for each purchase. It automatically sets rewards for subscribers of one of eight LOCA credit cards. The LOCA brand consists of three LOCA plastic cards that offer general benefits, and another five, named &l
Dec. 30, 2020
-
[Best Brand] Hyundai Mobis strives for sustainable management
Hyundai Mobis, an auto parts arm of Hyundai Motor Group, has been recognized for its continued efforts for sustainable corporate management. The Seoul-based company on Dec. 4 was awarded with the Prime Minister’s prize for striving for inclusive growth across the ecosystem of the local auto parts industry. In April, when the country was in the midst of the first wave of the COVID-19 outbreak, the firm offered a helping hand to its partners, endorsing a three-month rollover on receivabl
Dec. 30, 2020
-
Coupang to be led by two directors instead of current four
Coupang will reorganize its top leadership so that it has two representative directors instead of the current four, the e-commerce platform said Wednesday. Two incumbent directors, Kang Han-seung and Park Dae-jun, will retain their posts, while the others will no longer hold the title. Kim Bom-seok, the company’s chief executive and one of its outgoing directors, will serve as the chair of its board and will focus on establishing its strategic direction, Coupang said. The other outgo
Dec. 30, 2020
-
After a year of COVID-19, who are the market winners and losers?
Amid the worldwide crisis known as COVID-19, South Korea’s industries have faced mixed fates this year, with some riding on the effects of the pandemic, strict social distancing rules and accompanying market turbulence and others succumbing. On momentum from the contactless consumer trend, the information technology sector has thrived, apparently ending years of sluggish semiconductor sales. The biotechnology industry has basked in the spotlight as companies raced to develop diagnostic
Dec. 30, 2020
-
Hyundai Motor Group lists nine car-related products in 2020 Good Design Awards
Hyundai Motor Group said Wednesday that nine products from its three auto brands have won prizes for transportation design at the 2020 Good Design Awards. The All-New Avante (launched in the US under the name Elantra), Concept Car 45, Prophecy, Hi-Charger, K5, Sorento, G80, GV80, Genesis Copper Design Theme were all selected, South Korea’s second-largest conglomerate said in a release. The three car models by Hyundai Motor -- All-New Avante, Concept Car 45, and Prophecy -- were all mark
Dec. 30, 2020
-
Daewoo Shipbuilding cancels W891b deal
Daewoo Shipbuilding & Marine Engineering Co. said Wednesday that it has canceled an 891 billion-won ($820 million) container ship deal due to a shipper's failure to comply with contract terms. The unidentified African company signed the deal with Daewoo Shipbuilding in December last year, but it has since not carried out conditions necessary for the deal to take effect, Daewoo Shipbuilding said in a regulatory filing. Daewoo Shipbuilding said the deal cancellation did not cause financial l
Dec. 30, 2020
-
Samsung heir becomes Korea's richest man in stock value
Samsung Electronics Vice Chairman Lee Jae-yong has become South Korea’s richest stakeholder, replacing his father’s name that held the title for decades, data showed Wednesday. The vice chairman’s stock value stood at 9.07 trillion won ($8.35 billion) as of Tuesday, nearly 2 trillion won more than last year, according to CEO Score, a local corporate researcher. Stock ownership of the 49-year-old heir to the world‘s largest chipmaker is set to grow, as he and his famil
Dec. 30, 2020