Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Medical standoff deepens as doctors reject new med school plan, talks
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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Samsung, Gates Foundation complete Reinvent the Toilet project
Samsung Electronics said Thursday it celebrated the completion of the Reinvent the Toilet project that has been conducted over the past three years in collaboration with the Bill & Melinda Gates Foundation. The Gates Foundation launched the “RT” project in 2011 with an aim to generate innovative solutions that can protect people and communities from human waste-borne pathogens and help underdeveloped countries deliver more inclusive sanitation services that reach the poorest co
Aug. 25, 2022
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Samsung SDS to join NIST’s post-quantum cryptography project
Samsung SDS said Thursday it is joining a post-quantum cryptography project led by a cybersecurity center at the National Institute of Standards and Technology in the US, along with a slew of global tech firms like Amazon Web Service, Cisco and Microsoft. The project, called Migration to PQC or post-quantum cryptography, aims to replace the current cryptographic algorithms, especially public-key cryptography, to better protect digital information in the era of quantum computing. Once access
Aug. 25, 2022
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Kyobo Life builds Korean language school in Indonesia
Kyobo Life Insurance Co., a South Korean life insurer, said on Thursday it has established the Cia-Cia Hangeul School on Buton Island, Indonesia, in partnership with the Korea Cia-Cia Cultural Exchange Association. The Cia-Cia are one of Indonesia’s 350 minorities who in 2009 officially chose to use the Korean alphabet, Hangeul, to preserve its fading language. The Cia-Cia local language, also known as Butonese, does not have its own writing system. They use Hangeul to mimic the pronuncia
Aug. 25, 2022
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Dokdo unlabeled on Apple Maps in 22 countries
Apple Maps, iPhone’s built-in map application, was found to have no labeling of the Dokdo islets in over 20 countries across the world, a South Korean professor claimed on Thursday. Seo Kyoung-duk, a general education professor at Sungshin Women’s University, wrote in a post on his social media accounts that iPhone’s built-in map application in 22 countries had no recognition of South Korea’s easternmost islets, citing his social media followers as sources. The list of
Aug. 25, 2022
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[Exclusive] Jeju Island to launch drone taxi routes for tourists by 2025
South Korea’s resort island of Jeju will launch air routes for Urban Air Mobility (UAM) and drone taxis dedicated to tourists in the island by 2025, as the first municipality in the country to do so. Aimed at offering quick and accessible air mobility in the near future, the routes will connect the island’s popular tourist spots through the coast with quick and accessible air mobility in the near future, an executive who devised the idea told The Korea Herald on Thursday. Jej
Aug. 25, 2022
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Hyundai Rotem wins W755.7b train car order in Egypt
Hyundai Rotem Co., a South Korean railway system and plant equipment maker, said Thursday it has received a 755.7 billion-won (US$560 million) order for subway train cars in Egypt. Under the deal signed with Egypt's National Authority for Tunnels (NAT), Hyundai Rotem will supply subway train cars for the No. 2 and No. 3 subway lines in Cairo by 2028, the company said in a statement. Hyundai Rotem is an affiliate of Hyundai Motor Group, which has Hyundai Motor Co. and Kia Corp. under its win
Aug. 25, 2022
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Seoul shares open higher ahead of BOK rate policy meeting
South Korea's stock market opened higher Thursday as investors brace for yet another rate increase by the Bank of Korea (BOK). The benchmark Korea Composite Stock Price Index (KOSPI) rose 11.02 points, or 0.45 percent, to trade at 2,458.47 as of 9:15 a.m. The BOK is widely expected to raise its policy rate by 0.25 percentage point to 2.5 percent at a policy meeting later in the day. The central bank delivered an unprecedented 0.5 percentage-point rate hike last month to tackle inflation. It
Aug. 25, 2022
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Producer prices grow for 7th month in July on electricity, service costs
South Korea's producer prices increased for the seventh straight month in July as electricity and transportation service bills rose, raising worries that it could add to upward pressure on already-high inflation, central bank data showed Thursday. The producer price index, a major barometer of consumer inflation, stood at 120.47 last month, up 0.3 percent from the previous month, according to the preliminary data from the Bank of Korea (BOK). Compared with a year earlier, the index jumped 9
Aug. 25, 2022
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Ramen next in line for sharp price hike
Amid soaring food costs, prices of ramen, Koreans’ most favored instant food and a common low-cost meal option, are set for an increase next month, in another blow to customers already grappling with persistent inflation. Koreans consumed the most instant noodles per capita in the world in 2020. Nongshim, a leading South Korean ramen maker, said Wednesday that it was raising prices for instant noodles and snacks, effective Sept. 15, by an average of 11.3 percent and 5.7 percent, respectiv
Aug. 24, 2022
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Oriental Brewery VP shares how beer company could go green
South Korea’s largest beer maker Oriental Brewery introduced its climate change-tackling technology at the Conference of Global Climate Action Fund, according to the company on Wednesday. The conference, initiated for the first time and scheduled to be held from Monday to Friday, was co-hosted by the W Foundation and United Nations Climate Change Convention. It was designed to support private sector efforts to achieve carbon neutrality. At the conference, Nataly Borges, vice president o
Aug. 24, 2022
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K-content tweets increase 546% over 10 years
The amount of tweets related to Korean content has grown 546 percent over the past 10 years, according to Twitter. “K-content’s growth on Twitter follows the explosive growth pattern of K-pop,” said Kim Yeong-jeong, Twitter’s head of global K-pop and K-contents partnership, Tuesday at the Content Marketing Summit 2022 held at the InterContinental Hotel in Seoul. “Twitter‘s strength, which allowed K-pop to expand its reach over the past few years, is expect
Aug. 24, 2022
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Lotte Chemical becomes sole bidder for Iljin Materials
Lotte Chemical has emerged as the sole bidder in the sale of South Korea’s second-largest copper foil manufacturer Iljin Materials, according to a local report Wednesday. Global private equity fund operators and foreign strategic investors have pulled out during the bidding process due to Iljin Materials’ high prices and rate hikes, leaving Lotte Chemical as the only bidder, the Herald Business said in an exclusive report, citing investment bank sources. Lotte Chemical on Monday c
Aug. 24, 2022
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Hyundai Motor invests in automotive semiconductor startup
Hyundai Motor Group said on Tuesday it has decided to invest in Bos Semiconductors, an automotive semiconductor startup. Bos Semiconductor is a fabless startup which specializes in manufacturing system semiconductors used in automotive software. The startup aims to design high-performance semiconductors that consume low amounts of power. It also aims to manufacture central processing units and high-speed interfaces that are essential for automotive semiconductors. Hyundai Motor’s inv
Aug. 24, 2022
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Seoul stocks snap 5-day losing streak; local currency up for 1st in 7 sessions
South Korean stocks finished higher Wednesday, after five consecutive sessions of losses, as investors bought oversold issues. The Korean won also gained ground against the US dollar for the first time in seven sessions. The Korea Composite Stock Price Index (KOSPI) added 12.11 points, or 0.5 percent, to close at 2,447.45, breaking the five-day losing streak. Trading volume was moderate at 407.61 million shares worth 7.93 trillion won ($5.91 billion), with gainers outpacing decliners 575 to 275.
Aug. 24, 2022
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Samsung C&T wins W800b solar power plant project in Qatar
Samsung C&T said Wednesday it has inked an 800 billion won engineering, procurement and construction contract with QatarEnergy to build solar power plants with the capacity to generate 875 megawatts of electricity. The project involves building one solar power plant with 417 megawatt capacity in Mesaieed and another one in Ras Laffan with 458 megawatt capacity, which will start generating electricity by the end of 2024. Around 1.6 million solar panels will be installed in these power
Aug. 24, 2022
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Resistance growing over big tech’s push into insurance agency biz
South Korean technology firms are gearing up to launch new services where users can compare different insurance products on their platforms, but the move has been met with strong resistance from traditional agents, sources said Wednesday. Financial authorities earlier this week approved local big tech firms such as Naver and Kakao to launch test-runs of their new “insurance agent” services starting from as early as October, according to the policymaking Financial Services
Aug. 24, 2022
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[Newsmaker] Chung Euisun heads to US as inflation law puts Hyundai Motor EV strategy in peril
Hyundai Motor Group Executive Chair Chung Euisun made an emergency trip to the US on Tuesday to seek ways to deal with the latest US tax credit bill that has scrapped subsidies for foreign-made electric vehicles. Amid looming concerns that the bill may jeopardize the carmaker’s EV strategy, Chung left for Washington, D.C., with Hyundai Motor President Gong Young-woon who is in charge of public relations, media outlets reported Wednesday, quoting unnamed sources. They plan to meet high-ra
Aug. 24, 2022
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LG to launch AI ethics group for better transparency
LG Group said Wednesday it is launching a new artificial intelligence ethics group later this year with an aim to build more responsible AI systems and their deployment across all LG companies. Ahead of its official launch, LG AI Research, the group's AI research hub, recently set up a task force to be charged with educating LG employees to better understand AI ethics and evaluating ethical risks related to privacy, bias and fairness before product development. The upcoming ethics group
Aug. 24, 2022
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S. Korea to announce comprehensive measures to boost exports
South Korea plans to come up with a set of measures this month to strengthen the competitiveness in exports amid the global economic downturn, the industry ministry said Wednesday. The envisioned plan comes as the country has seen a slowdown in the growth of exports, which account for half of the economy, and its trade deficit has widened in recent months due to high energy prices. In July, exports rose 9.4 percent on-year, marking the 21st consecutive month of growth. But they began to mark sin
Aug. 24, 2022
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LG Uplus rebrands K-pop platform to Idol Plus with foreign language support
LG Uplus Corp., South Korea's third-largest mobile carrier, said Wednesday it has rebranded its K-pop content platform and has newly enabled official foreign language support for foreign users. The company's U+ Idol Live platform has been renamed as Idol Plus and its menu and subtitles now officially support English, Chinese, Japanese, Thai and Indonesian, in addition to Korean. LG Uplus said it has analyzed overseas customer usage during its beta web service period since November in s
Aug. 24, 2022