Most Popular
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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Myeong-dong bustles again as retail shops fill up
Though plagued by emptied-out stores and quiet streets in the wake of the pandemic, the Myeong-dong area in central Seoul is looking to reclaim its title as a top retail district in Korea, seeing a sharp drop in its vacancy rate. Myeong-dong, a major tourist destination here, was hit severely by the lack of travelers during the COVID-19 pandemic, with its vacancy rate hitting nearly 50 percent at the end of 2021. But with pandemic rules lifted and an increase in face-to-face transactions, the ar
March 20, 2024
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Sephora exits Korea after years of losses
French cosmetics retailer Sephora, owned by LVMH Group, on Tuesday declared its withdrawal from the Korean market, following years of financial losses. "With heavy hearts, we have decided to cease operations in Korea. From May 6, we will gradually wind down our presence across online platforms, mobile applications and physical stores, ultimately withdrawing completely from the market," a social media post by Sephora Korea announced Tuesday. Sephora said that it will fulfill pending ord
March 20, 2024
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Hanwha to lead Korea’s next-gen space rocket project
South Korea’s largest aerospace company Hanwha Aerospace said Wednesday it has been selected as a private entity to lead the nation’s next-generation space rocket project. The Public Procurement Service started the bidding process in December last year and Hanwha competed against Korea Aerospace Industries. After a thorough review of its technical capabilities and project sustainability evaluation on March 12, Hanwha was decided as the preferred bidder. Hanwha plans to sign the final
March 20, 2024
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Hana pledges W30b for emergency child care
Hana Financial Group announced Wednesday the introduction of its 365 Day Hana Child Care initiative, aiming to tackle South Korea’s declining birth rate by offering reliable back-up child care options. An inauguration ceremony took place at a child care center in Nowon-gu, northern Seoul, on Tuesday, with Chairman Ham Young-joo in attendance. The program is designed to assist parents facing disruptions in their regular child care arrangements throughout the year, catering to their needs on
March 20, 2024
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Red-hot Nvidia dips after it unveils new AI chip
Nvidia shares dipped in premarket trading on Tuesday after having more than tripled in value in the past year, as the dominant AI chip supplier unveiled its latest flagship product that is expected to further cement its lead in the industry. Shares of Wall Street's third most-valuable firm were down about 1 percent, with some analysts saying investors had already factored in the launch and were looking out for more details. "If the brand-new Blackwell chip didn't trigger a fresh r
March 19, 2024
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Samsung-LG rivalry renewed in all-in-one washer
Samsung Electronics and LG Electronics are seen to be renewing their decadeslong competition in the home appliance market with their first all-in-one washer-dryer machines, which combined the two full-capacity laundry machines to complete the entire laundry process in one step. Both Samsung and LG first unveiled their new single-drum laundry machines at the IFA trade show in Germany in August last year, each claiming their products hold superiority over the other. Samsung presented the Bespoke A
March 19, 2024
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[Photo News] K-water partnership with Cambodia
Korea Water Resources (or K-water) CEO Yun Seog-dae (left) and Cambodian Minister of Water Resources and Meteorology H.E. Thor Chetha talk during a meeting in Phnom Penh, Cambodia, Monday. The two leaders discussed plans to enhance collaboration on water initiatives, including the upcoming smart water management project in Phnom Penh. As a key member nation of K-water’s Asia Water Council, Cambodia seeks official development assistance and cooperation funds to address water challenges. (K-
March 19, 2024
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Drugmakers feeling pinch from doctors’ walkout
The ongoing tug-of-war between the South Korean government and medical professionals over the proposed increase in the number of medical students could have negative impacts on local drug companies’ revenues as well, industry sources said Tuesday. According to officials from local pharmaceutical companies, the ongoing walkout of local doctors is causing a short-term decrease in the overall use of drugs and medical supplies at local hospitals where surgeries are being postponed and appointm
March 19, 2024
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[KH Explains] Will Kakao Bank secure footing in untapped Thai market?
Thailand has remained an untapped market for South Korean financial firms since their exodus during the financial crisis in the late 1990s. Now Kakao Bank, the nation’s No. 1 online-only bank, is eyeing an expansion into the burgeoning digital banking market in Southeast Asia's second-largest economy. Earlier this month, Thailand’s Ministry of Finance confirmed regulations for authorizing virtual banks, the equivalent of internet lenders in Korea. According to the regulations, a
March 19, 2024
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CJ CheilJedang showcases K-food innovations at US expo
CJ CheilJedang said Tuesday it participated in the 2024 Natural Products Expo West, the world's largest trade event in the food industry, to showcase its key products and K-food innovation overall. Held in Anaheim, California, the expo marked its 42nd anniversary, attracting around 3,000 companies and approximately 60,000 visitors over five days starting March 12. This year’s event focused on the latest trends in health and wellness, featuring new food products and nutritional supplem
March 19, 2024
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Samsung Electro-Mechanics to release high-voltage MLCCs for EVs
Samsung Electro-Mechanics announced on Tuesday the launch of its latest high-voltage MLCCs tailored for electric vehicles, in response to surging demand from global automotive component manufacturers. MLCCs, or Multi-Layer Ceramic Capacitors, play a crucial role in regulating the consistent flow of current in electronic circuits, particularly within automobiles, where each vehicle contains between 3,000 to 10,000 MLCCs. The company has unveiled five new high-voltage MLCCs, including three varian
March 19, 2024
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Tuggle joins Goyang, Yourside in promoting pet-related industries
DAO Research Institute, operator of pet service platform Tuggle, signed a memorandum of understanding with the city government of Goyang, Gyeonggi Province, and the Yourside volunteer group to collaborate on developing pet-related industries, officials said Tuesday. The memorandum was to ensure that the DAO Research Institute, Goyang Industry Promotion Agency, Goyang City Research Institute and Yourside will combine their resources to enhance their cooperation across various sections of the indu
March 19, 2024
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Trade specialist named new CEO of Hyosung Heavy Industries
Hyosung Heavy Industries on Monday announced that it has appointed Woo Tae-hee, an international trade specialist who currently serves as the vice chairman of the Korea Chamber of Commerce and Industry, as its new CEO overseeing the company's heavy industry and construction businesses. Woo, 62, a graduate of Yonsei University's Department of Public Administration in 1984, obtained his doctorate in business from Kyung Hee University in 2011. After passing the public service examinatio
March 18, 2024
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[Herald Interview] ‘Meaty rice will become reality sooner than you think’
A Korean research team has recently unveiled a bowl of pink rice, a new lab-made hybrid rice, which they say could offer a cheaper and more sustainable source of protein not just for those on a vegan diet, but also for countries still reeling from food crises. “The lab-made beef rice could hit supermarket shelves sooner than you think if regulatory issues are cleared,” Hong Jin-kee, a chemical and biomolecular engineering professor at Yonsei University and the leader of the research
March 18, 2024
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Celltrion's Zymfentra makes US debut
Korean biopharmaceuticals firm Celltrion announced Monday that its new autoimmune disease treatment Zymfentra has been launched in the US market. Zymfentra is a subcutaneous injection formulation of Celltrion's infliximab Remsima. In October last year, the US Food and Drug Administration approved Zymfentra (infliximab-dyyb) for the maintenance treatment of adults with moderately to severely active ulcerative colitis and Crohn’s disease. "Infliximab is a well-established treatment
March 18, 2024
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Igis to create fancy office complex in central Seoul
Local real estate asset manager Igis Asset Management is set to move forward with its plan to refurbish the office area near the Seoul Station, having recently acquired two office properties on the site. The asset manager announced Monday it had acquired Metro Tower (41,139.6-square-meters) and Seoullo Tower (27,897.5-square-meters) in the area, which connects with another property owned by the company, the Millennium Hilton Seoul. Through the project, the area, situated near the iconic Namsan,
March 18, 2024
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Dyson founder visits Seoul for global debut of new hair dryer
James Dyson, the founder and senior engineer of UK home appliance giant Dyson, visited Seoul on Monday to unveil the company’s new hair dryer, the Dyson Supersonic Nural. The new hair dryer, which is designed to better protect hair and the scalp from heat, made its global debut in Korea, one of the brand’s top-selling markets. The 76-year-old Dyson founder showed his appreciation for the local market as he took the stage to introduce the new machine in person. “What we are tryi
March 18, 2024
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K-water to share know-how with Vietnam
Korea Water Resources, the state-run water management agency, announced Monday that it has partnered with Vietnam’s National Center for Water Resources Planning and Investigation to address the country's water concerns and mitigate against climate change impacts. The collaboration was formalized through a memorandum of understanding signed at the International Conference on Water held in Hanoi, Vietnam, on March 15. Vietnam grapples with water scarcity as it is located downstream of t
March 18, 2024
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Korean Air to expand flights to pre-pandemic levels
Korean Air on Monday said it plans to expand the number of its international flights for the upcoming summer season, elevating its operational rate to nearly 96 percent of pre-pandemic levels. From March 31 through Oct. 26, the company will resume operations of weekly flights to four cities, including China’s Zhengzhou and Zhangjiajie, as well as Zurich and Bangkok. The Incheon-Zurich route will have three weekly flights to meet the high demand for summer travel to the Swiss city among Kor
March 18, 2024
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Asiana Airlines wins data transfer certification in China
Asiana Airlines on Monday announced that it has become the first domestic airline to win the Certification of Cross Border Transfers of Personal Information, as mandated by China's Personal Information Protection Law. This certification affirms the company's adherence to the stringent requirements necessary for the secure transfer and management of personal data to regions outside China. The achievement follows China's introduction of updated information protection regulations in
March 18, 2024