Most Popular
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1 in 3 Koreans live alone, family types becoming diverse
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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US 'incredibly concerned' about suspected NK-Iran military ties
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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K-pop singer lost consciousness after being hit by foul ball, cancels show
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Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
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[Kim Seong-kon] Democracy and the future of South Korea
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Why is Apple Pay struggling to get purchase in Korea?
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Yoon's office denies considering liberal figures for key posts
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Seoul says Fu Bao loan 'not going to happen'
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Hahn & Co., Kolon to form joint venture for industrial film
Hahn & Co., the nation's largest private equity firm in terms of assets under management, is to set up a joint venture with Kolon Industries, a chemical and textile manufacturing unit under Kolon Group, to bolster its industrial film business. The two entities have signed a binding memorandum of understanding to cooperate for the launch of the joint venture, according to a disclosure filed by Kolon Industries Tuesday. “The related parties are discussing the details. An announcemen
Feb. 27, 2024
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Merck’s Keytruda tops drug sales in Korea
Merck’s immuno-oncology drug Keytruda, one of the best-selling drugs in the world, topped drug sales in Korea for the second consecutive year in 2023, according to market tracker IQVIA on Tuesday. Keytruda’s sales in Korea came to some 399 billion won ($300 million) in 2023, up 159 billion won from the previous year, while global sales of Keytruda hit $25 billion, making it the top-selling drug worldwide. “Keytruda’s success in the country came as the drug can be prescrib
Feb. 27, 2024
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Samsung eyes AI chip leadership with highest-capacity HBM3E
Samsung Electronics said Tuesday it has developed HBM3E 12H, the industry’s first 12-stack HBM3E DRAM and the highest-capacity HBM product to date, going one step further than its rivals in the burgeoning artificial intelligence chip market. The world's largest memory chip maker said it has begun providing samples of HBM3E 12H to customers, and mass production is slated for the first half of this year. “The industry’s AI service providers are increasingly requiring HBM wit
Feb. 27, 2024
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New KITA chief urges readiness for US election
Former Industry Minister Yoon Jin-shik officially took the reins of the Korea International Trade Association, the nation's largest trade lobby group, after being approved at a general meeting on Tuesday. "Korea's exports experienced difficulties with the slowdown of the global economy but it will improve," Yoon said at a press event held after the meeting. "The biggest problem with exports is that they focus heavily on a certain region, while products are limited. The s
Feb. 27, 2024
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Kyobo Life secures most-admired insurer title for 2nd consecutive year
Kyobo Life Insurance has been named the nation's most-admired life insurer for the second consecutive year, reflecting CEO and Chair Shin Chang-jae's steadfast commitment to a sustainable management philosophy. The Kyobo subsidiary announced it received the honor on Tuesday from the Korea Management Association Consulting, marking its second straight year being recognized as the top life insurer at KMAC's most-admired companies ceremony. This year, Kyobo Life also secured a place
Feb. 27, 2024
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Korea's BBQ Chicken tops US fast-food chicken ranking: magazine
In a significant achievement for South Korean cuisine, BBQ Chicken has topped a fast-food chicken ranking in the United States, the Korean fried chicken franchise announced Monday. Genesis BBQ Group, the franchise operator, said BBQ was selected as No.1 fast-food chicken by a prestigious American food magazine "Taste of Home." Founded in 1993, Taste of Home is a US media outlet specialized in food with a readership of 1.9 million and average monthly website traffic of 20 million visits
Feb. 26, 2024
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Hyundai E&C share jumps on potential Bulgarian deal
Hyundai Engineering & Construction shares jumped Monday as the company has been tapped as the preferred bidder for a $14 billion worth nuclear plant project in Bulgaria. The builder's shares ended at some 34,000 won ($25.5) on Monday, around 2 percent higher than last week. On Sunday, the company said that it has been selected as the preferred bidder for a nuclear plant project to build two nuclear reactors, with a combined capacity of 2,300 megawatts (MW), in Kozloduy, located around 2
Feb. 26, 2024
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New regulation on housing loans comes into force
South Korea has tightened household debt regulations with the introduction of "stress interest" to the debt service ratio system across the banking sector, effective Monday. The Financial Services Commission has implemented the stress DSR system, which imposes surplus interest -- called stress interest -- to reflect potential future interest rate hikes when the borrower executes the loan. The DSR gauges the amount a borrower has to pay for principal and interest relative to annual inco
Feb. 26, 2024
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[KH Explains] India: Make-or-break market for Krafton
South Korean game developer Krafton logged surprise earnings in the fourth quarter of last year thanks to the revival of PUBG: Battlegrounds, a battle royale shooter game. In particular, Kratfon highlighted the rise of Battlegrounds Mobile India, or BGMI, as one of the key factors that drove the revenue upturn during the conference call on Feb. 8. BGMI was launched in India as a country-dedicated mobile version of PUBG in July 2021. The game developer said that BGMI quickly recovered after the g
Feb. 26, 2024
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Zuckerberg to discuss developing mixed reality headset with LG chief
Mark Zuckerberg, CEO of Meta, formerly Facebook, is expected to meet with LG Electronics CEO Cho Joo-wan to discuss joint development of an advanced mixed reality headset, according to industry sources on Monday. LG Electronics said it is currently arranging a meeting of the two leaders, as Zuckerberg is planned to visit Seoul this week. "We are currently arranging the meeting, but nothing has been decided yet," an LG official said. While details of his trip is unknown, the most likely
Feb. 26, 2024
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Posco International to expand motor core plants in Mexico, Poland
Posco International's new president, Lee Kye-in, has initiated the global expansion of the traction motor core business by establishing operations in Poland and Mexico as his inaugural strategic move. At a board meeting on Friday, the trading arm of the Posco Group authorized the establishment of a new facility in Poland and its second plant in Mexico, a big step toward its output goal of 7 million traction motor cores a year by 2030. Motor cores are a central component in electric motors a
Feb. 26, 2024
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[Photo News] Urban air mobility
Visitors try out KT's Urban Air Mobility service at MWC 2024, which kicked off in Barcelona, Spain, Monday. At this year's connectivity tech show, the mobile carrier showed off its air mobility technologies and services, including Urban Air Traffic Management system, and 5G service Skypath. (KT)
Feb. 26, 2024
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Hyundai, Kia's overseas car production tops 3.68m units in 2023: data
The combined overseas production of Hyundai Motor Co. and Kia Corp. surpassed 3.68 million units in 2023, setting the biggest offshore output since the outbreak of the COVID-19 pandemic, data showed Monday. According to data from the Korea Automobile Manufacturers Association, Hyundai Motor and Kia, South Korea's leading automakers, produced 3,678,831 finished vehicles at 13 overseas production bases last year. Hyundai produced 2,243,069 vehicles in eight countries -- the United States, Ind
Feb. 26, 2024
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[From the Scene] Posco Future M automates as it eyes cathode crown
GWANGYANG, South Jeolla Province -- Safety goggles, helmets and dust masks were waiting on the desks in the auditorium at Posco Future M’s secondary battery materials complex in Gwangyang, South Jeolla Province, Thursday. After a brief introduction of the world’s largest cathode plant, a group of reporters equipped with safety gear headed to the Gwangyang Cathode Plant2. Asked to wear disposable overshoes, the visitors were greeted with an air shower before they could enter the catho
Feb. 25, 2024
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KB kicks off new Cambodian unit following merger
KB Kookmin Bank, one of Korea’s top five commercial lenders here, launched its new Cambodian unit, KB Prasac Bank, to tap deeper into the market by offering loan programs for small merchants and digital banking services. KB Prasac Bank, Cambodia's fourth-largest commercial lender in terms of assets, held an opening ceremony in Phnom Penh on Friday (local time), according to the Korean firm. More than 700 individuals attended the event, including KB Financial Group Chairman Yang Jong-h
Feb. 25, 2024
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SK bioscience's typhoid conjugate vaccine wins WHO prequalification certification
SK bioscience, a pharmaceutical affiliate under South Korea's SK Group, said Friday its typhoid conjugate vaccine has obtained prequalification certification from the World Health Organization. The vaccine, named SKYTyphoid, was jointly developed by the South Korean company and the International Vaccine Institute, with financial support from the Bill & Melinda Gates Foundation, according to SK bioscience. SKYTyphoid is SK bioscience's fourth vaccine product to receive PQ certificat
Feb. 23, 2024
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Firms seek to tackle low birth rate with hefty incentives
South Korean conglomerates are expanding birth incentive programs to help boost the country’s record-low fertility rate amid mixed expectations about their effectiveness. Underwear maker Ssangbangwool announced Thursday that the company will provide up to 100 million won ($75,000) to employees who are expecting babies. Under the company's birth incentive scheme, an employee can receive 30 million won for the first child, another 30 million won for the second and 40 million won for the
Feb. 23, 2024
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Posco aims to expedite carbon-neutral transition
South Korean steel giant Posco has recently reaffirmed its commitment to achieving carbon neutrality by 2050 by adopting its own hydrogen reduction ironmaking technology, called HyREX. This strategic shift to low-carbon production is a testament to the company's ambitious pursuit of solidifying its leadership in the realm of sustainable steel manufacturing. To spearhead this transformation, the company set up a new team solely dedicated to carbon neutrality under the oversight of its CEO in
Feb. 23, 2024
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Tech rivals eye big VR bets despite mixed reviews of Apple’s Vision Pro
Less than a month has passed since the high-profile debut of Apple Vision Pro, the most advanced augmented reality headset in the market. Despite mixed reviews, Apple's rivals seem keen to make a similar entry into the brand-new segment. Dazzling demonstrations of the Apple Vision Pro made it look like a game changer, allowing the user to pop up their computer screens in the air, and control it with their fingertips and by moving their eyes around. But some users have been seen returning th
Feb. 23, 2024
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Sprinkles Cupcakes coming to Seoul
Sprinkles Cupcakes, the famed cupcake specialist from California, is poised for a debut in the Korean market this year – its first venture beyond US borders, according to the company on Friday. Sprinkles said it will introduce its trendy cupcakes, cookies and chocolate treats globally this year, with imminent expansions planned for Singapore and Malaysia as well. For the upcoming Seoul store, the firm is expected to team up with Korean bakery giant SPC Samlip. For other international openi
Feb. 23, 2024