Most Popular
-
1
Contentious grain bill put directly to plenary meeting for vote
-
2
Yoon's approval rating plunges to all-time low
-
3
Will tug-of-war between doctors, government end soon?
-
4
Climate impacts set to cut 2050 global GDP by nearly a fifth
-
5
Trilateral talks acknowledge ‘serious’ slumps of won, yen
-
6
[Graphic News] More Koreans say they plan long-distance trips this year
-
7
[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
-
8
North Korea removes streetlights along cross-border roads with South
-
9
Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
-
10
Farming households dip below 1m for first time in 2023
-
First Jeep EV to make Korean debut in H2
Stellantis will launch the Avenger, the Jeep brand’s first all-electric sports utility vehicle, in Korea in the second half of this year as the global automaker looks to focus on regaining customer trust and bolstering its brand image here, the company’s recently appointed head said Monday. “Challenges and opportunities still co-exist in (the Korean market),” said Bang Sil, managing director of Stellantis Korea, in her first press conference since starting in her role as
MobilityApril 1, 2024
-
[Photo News] Hanwha chief congratulates team
Hanwha Group Chairman Kim Seung-youn (center) and his son and Vice Chairman Kim Dong-kwan took a selfie with employees at the Hanwha Aerospace research and development campus in Yuseong-gu, Daejeon, Friday. Hanwha's chief visited the center to congratulate Hanwha Aerospace’s selection as the only bidder for the nation’s forthcoming next-generation launch vehicle project and to offer encouragement to the team of researchers. (Hanwha Group)
IndustryApril 1, 2024
-
HBM leadership is coming to us: Samsung CEO
Samsung Electronics has established a special team dedicated to High Bandwidth Memory, going all-out to get an edge in the advanced memory chip, which is currently in the spotlight as a key component in raising the processing speed for artificial intelligence applications. Highlighting the importance of HBM in the wake of the AI boom, Samsung Electronics Vice Chairman Kyung Kye-hyun vowed to keep up efforts to secure leadership in the burgeoning market and revealed the company has formed a team
IndustryApril 1, 2024
-
JB Financial inks partnership with Vietnam’s OKXE
South Korea's JB Financial Group said Monday it has signed a partnership with OKXE, a Vietnam-based platform for used motorcycles, eyeing the expansion of its brokerage business in the country. At a signing ceremony held in Seoul on Friday, JB Financial Group and its affiliate JB Investment agreed to acquire a combined 8 percent stake in OKXE. OKXE was launched in Vietnam in 2020 by CEO Kim Woo-seok, bringing used motorcycle transactions from offline to online. With over 8 million users as
IndustryApril 1, 2024
-
CJ’s veggie dumplings hit US military shelves
South Korean food giant CJ CheilJedang said Monday it has started selling plant-based dumplings at grocery stores within US military bases in Korea. These Bibigo dumpling products come in three varieties -- original, japchae and kimchi -- all featuring the company’s special vegetable protein based on beans, which provides a taste and texture similar to meat. Starting with dumplings, CJ said it plans to expand its product lineup to include frozen rice balls and gimbap. They added it aims
CompaniesApril 1, 2024
-
Korean Air marks 45 years of flights to New York
Korean Air hosted a surprise event at New York's John F. Kennedy International Airport on Friday, to celebrate the 45th anniversary of operating flights to the city, the nation’s largest air carrier said Monday. At the event, a round-trip prestige ticket from Incheon to New York was awarded to the 45th passenger of Korean Air flight KE082 bound for Incheon. Korean Air also gave out welcome eco-bags to all passengers aboard KE082, which were crafted in collaboration with the Korean Ass
IndustryApril 1, 2024
-
Hanwha Ocean names ex-SBM exec as new offshore head
Hanwha Ocean announced Monday that Philippe Levy, the former president of SBM Offshore Americas, will take the helm of its Offshore Business division. Levy brings 25 years of industry experience, notably with SBM Offshore, a Dutch-based oil and gas company. Additionally, he has served as an executive adviser for the state-run China National Offshore Oil Corporation in Guyana. In this role, Levy provided guidance on projects related to floating production storage and offloading and liquefied natu
IndustryApril 1, 2024
-
Exports rise for 6th straight month in March
South Korea's exports moved up for the sixth consecutive month in March on the back of the robust performance of chips, data showed Monday. Outbound shipments gained 3.1 percent on-year to $56.5 billion last month, according to the data compiled by the Ministry of Trade, Industry and Energy. Imports decreased 12.3 percent on-year to $52.2 billion last month, resulting in a trade surplus of $4.28 billion. South Korea has been maintaining a trade surplus for 10 consecutive months. By sector,
EconomyApril 1, 2024
-
Seoul shares open higher after US inflation data
Seoul shares opened higher Monday as the US Federal Reserve is expected to await more evidence that inflation is under control before cutting rates this year. The benchmark Korea Composite Stock Price Index rose 8.11 points, or 0.3 percent, to 2,754.74 in the first 15 minutes of trading. Fresh inflation data released Friday was in line with the US central bank's expectations. Fed Chair Jerome Powell said it would not be appropriate to cut rates until officials are sure inflation is on track
MarketApril 1, 2024
-
[Hello India] Korean investment firms push into India amid China decline
More South Korean securities and investment firms are turning their eyes to the Indian market, exploring opportunities to tap the world's fastest-growing economy. NH Investment & Securities recently announced a partnership with Lighthouse Canton, a Singapore-based global asset management institution, as part of this trend. In January, NH Absolute Return Partners, a Singapore-based asset management company owned by NH Investment & Securities, signed a memorandum of understanding to c
EconomyMarch 31, 2024
-
Family, business leaders mourn Hyosung honorary chairman
Business leaders joined relatives to mourn the death of Cho Suck-rai, the honorary chairman of Hyosung Group, a textile giant, on Sunday. Cho died of a chronic illness Friday at the age of 89. Cho led the textile giant from 1982 until 2017, when he stepped down from the top management position due to health issues. His eldest son, Cho Hyun-joon took the baton to lead the conglomerate. On Saturday, Samsung Electronics Chairman Lee Jae-yong and his mother Hong Ra-hee paid respect for Cho at the fu
IndustryMarch 31, 2024
-
Hanmi heirs may seek to repair with family first
The management conflict within the founding family of Hanmi Pharmaceutical Group ended, as the sons of founder Lim Sung-ki -- Lim Jong-yoon and Lim Jong-hoon -- secured a majority within Hanmi Science’s board at the general meeting of shareholders last week. However, there are still multiple hurdles for the Lim brothers to get the country’s leading pharmaceuticals company back on track. According to industry sources Sunday, the Lim brothers are likely to attempt to repair the relatio
IndustryMarch 31, 2024
-
Mirae Asset chief’s dividend donations reach W31.5b
Mirae Asset Financial Group founder and Chairman Park Hyeon-joo is donating 1.6 billion won ($1.2 million) he earned from dividends last year, marking the 14th straight year of his philanthropic tradition. On Sunday, the company disclosed that Park will endow his entire dividend income from Mirae Asset Global Investments. Continuing the practice since 2010, Park's cumulative donations now reach 31.5 billion won. The group traces Park's charitable journey back to 2008 when he penned a l
IndustryMarch 31, 2024
-
[Test Drive] All-new Defender trumpets return of off-road champ
INJE, Gangwon Province -- “(Other carmakers) are worried when (they) see snow and rain, but we love it, and I think we’re going to have a great day,” said Robin Colgan, managing director of Jaguar Land Rover Korea, as he greeted reporters taking part in the automaker’s test drive for the 2024 all-new Defender in Inje, Gangwon Province, on Tuesday. As the 48-kilometer test drive for the JLR’s flagship sports utility vehicle included on- and off-road routes that had m
MobilityMarch 31, 2024
-
Korean fashion brands go global with Hyundai’s new platform
South Korean retail giant Hyundai Department Store announced Sunday the debut of The Hyundai Global, a pioneering platform designed to establish the nation’s homegrown fashion and entertainment brands in prominent international retail spaces. The new platform will offer a strategic pathway for small to medium-sized Korean brands to enter global markets without the usual financial strains associated with international expansion. By substantially reducing costs related to space leasing, inte
IndustryMarch 31, 2024
-
[Photo News] Robotaxi passes DMV road test
Hyundai Motor Group on Saturday posted a video of an autonomous robotaxi model of the Ioniq 5, the Korean automaker's all-electric compact sports utility vehicle, passing the driver's license test, on its global YouTube channel. The four-minute video shows how the self-driving vehicle gets through the road test without a driver but with a certified DMV examiner overseeing the process from the passenger seat, in the state of Nevada. (Hyundai Motor Group)
MobilityMarch 31, 2024
-
Kolmar Korea makes R&D push for bigger footing globally
The global rise in popularity of K-beauty brands has brought attention to Kolmar Korea, a leading cosmetics original design manufacturer that has secured a whopping 70 percent market share in the sun care sector alone here. According to the company Sunday, its “Fitting SPF Boosting” technology has been integrated into multiple sun care items sold at home and abroad. More recently, the products are selling hot in the US through major distribution channels, including Amazon. The Fittin
IndustryMarch 31, 2024
-
[From the Scene] Extreme climates to battery cells: Inside Hyundai's safety efforts
Hyundai Motor Group, having climbed to the rank of the second-largest electric vehicle seller in the United States last year just behind the trailblazer Tesla, recently took reporters behind the scenes to reveal the backbone of their success: a commitment to safety amid the industry's sprint toward longer battery ranges and fast charging. On Wednesday, the press was invited to the automaker's Namyang Technology Research Center in Hwaseong, Gyeonggi Province, to witness firsthand the safety testi
MobilityMarch 31, 2024
-
Govt. mulls further cutting EV subsidies
The government is considering further cutting electric vehicle subsidies next year to instead use the funds to supplement insufficient charging infrastructure, according to sources Sunday. According to the sources, government ministries overseeing EV subsidy policy, including the finance and environment ministries, are discussing ways to reduce EV subsidies for next year based on state budget guidelines for 2025. During the discussions, the finance ministry has stressed the need to strengthen th
MobilityMarch 31, 2024
-
Google to suspend political ads in S. Korea ahead of general election
Google has decided to suspend all politics-related advertisements on its services in South Korea ahead of the upcoming general election next month, according to industry sources Sunday. According to the sources, Google recently posted a notice saying that it will not support political ads during South Korea's election period. The decision will apply uniformly across Google services, including YouTube, Google search and the Google Play Store. The decision appears to have been made to prevent
CompaniesMarch 31, 2024