Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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LG Chem, China’s Huayou Cobalt set up JV for cathode production
LG Chem said Tuesday it has set up a joint venture with Tianjin B&M Science and Technology, a materials subsidiary of Chinese miner Huayou Cobalt, to secure a stable supply of key materials for high-nickel cathodes in its latest push for electric vehicle batteries. Under the deal signed on Monday in Seoul, B&M is securing a 49 percent stake in LG Chem’s existing cathode-making unit in Gumi, North Gyeongsang Province, supplying essential materials for nickel, cobalt, manganese, an
May 31, 2022
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Hyundai E&C showcases new Hillstate apartment complex in Yangju
Local builder Hyundai Engineering & Construction opened a model house for its new Hillstate Yangju Okjeong Patio Foret housing complex on May 13. Customers can tour the model house until June 12 after making a reservation through Hillstate Patio Foret’s official website. A virtual tour is also available. The new building can accommodate up to 809 households in 84-square-meter block houses. Each three story house was designed to include two parking spaces and an electric vehicle charg
May 31, 2022
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Hyundai Engineering expands nuclear power plant business
Hyundai Engineering (HEC) set up a new division for nuclear power projects as it seeks to develop its own small modular reactors (SMR). What was previously a team has been expanded and elevated to a division, and more nuclear power specialists will join, the company said. In addition to SMRs, Hyundai Engineering plans to produce micro modular reactors and hydrogen; enter new fields such as decommissioning of aging nuclear power plants, nuclear fuel cycle, reactors for research purposes and nuc
May 31, 2022
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[Graphic News] Chinese nationals purchase nearly 7,000 buildings in S. Korea in 2021
Chinese people purchased nearly 7,000 buildings in South Korea last year, with more than half of the properties being in the Greater Seoul area, a ruling party lawmaker said. A total of 6,640 buildings, including apartments, were purchased by Chinese nationals last year, and 2,659 of them are located in Gyeonggi Province, which surrounds the capital city of Seoul, Chung Woo-taik, a lawmaker of the ruling People Power Party, said in a report, citing the National Assembly Research Service. C
May 31, 2022
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Seoul shares open tad lower amid continued recession woes
South Korean stocks opened slightly lower Tuesday, as worries over a possible recession induced by the US Federal Reserve's pledge to hike rates continued to overshadow the markets despite optimism from China's easing of COVID-19 lockdowns. The Korea Composite Stock Price Index lost 1.33 points, or 0.05 percent, to 2,668.33 in the first 15 minutes of a choppy trading. Large-cap stocks lost ground across the board, with market heavyweight Samsung Electronics dipping more than 1 percent.
May 31, 2022
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S. Korea suffers falls in production, consumption, investment in April
South Korea's industrial output, consumption and investment declined together for the first time in over two years in April in the latest sign that economic recovery momentum remains fragile, data showed Tuesday. Industrial production fell 0.7 percent in April from the previous month, compared with a 1.6 percent on-month rise in March, according to the data from Statistics Korea. Compared with a year earlier, industrial output grew 4.5 percent. Retail sales, a gauge of private spending, fel
May 31, 2022
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Kakao to implement 'metaverse work'
All Kakao employees will be required to work remotely for at least four days a week from July as part of a new "metaverse work" system, the IT giant said Monday. During the testing period of the new working system, which will begin from July 1, employees are to work from outside the office for four days a week. For the remaining day, employees will have to meet offline but the meeting does not have to take place at the company office, a Kakao official said. All work-related items wil
May 30, 2022
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Samsung, Intel chiefs meet in Seoul for chip collaboration
Samsung Electronics Vice Chairman and de facto leader Lee Jae-yong met Intel CEO Pat Gelsinger, the company said Monday, raising expectations over a possible collaboration amid an intensifying race for next-generation chip technology. The heads of the world’s No. 1 and No. 2 companies in the chip industry by revenue held a meeting during Gelsinger‘s visit to Seoul. He flew to Korea after attending the 2022 World Economic Forum in Davos, Switzerland. Samsung’s $82.3 billion rev
May 30, 2022
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Hyundai E&C remediates dioxin-contaminated soil at US Army base in Incheon
Hyundai Engineering & Construction successfully remediated a large amount of dioxin-contaminated soil for the first time in South Korea. According to Hyundai E&C on Monday, the project of remediating 11,031 cubic meters of dioxin-contaminated land at Camp Market -- a US Army installation situated in Bupyeong-gu, Incheon -- was successfully completed after two years and 11 months of work. The company used the in-pile thermal desorption and thermal oxidation cleanup treatment of dioxins
May 30, 2022
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Korea to lift tariff on food imports, raise LTV for first home seekers
SEJONG -- The government on Monday unveiled a package to the improve living conditions of households suffering from a spike in consumer prices, by slashing their expenditure burden for commodities and housing. A batch of countermeasures -- which are likely to cost about 3.1 trillion won ($2.5 billion) in state funds -- against the high inflation rate were confirmed during a meeting of economy-related ministers, presided by Deputy Prime Minister and Finance Minister Choo Kyung-ho in Seoul. A co
May 30, 2022
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Are ‘Samsung plant,’ ‘Apple branch’ empty promises?
Ahead of Wednesday’s local elections, candidates are making their last-minute plea for votes, with some of them talking big to take advantage of big name companies and their huge investment plans unveiled recently. Politicians offering populist pledges is nothing new during election campaigns, but this year their rhetoric appears to have gained some weight as they come along with a series of new investment plans, worth a combined 1,000 trillion won ($800 billion), announced by the nation
May 30, 2022
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Seoul shares up for 2nd day on easing inflation; Korean won at over 1-month high
Seoul shares ended higher for second straight session Monday as investors scooped up large-cap stocks on bargain hunting following gains on Wall Street and hopes for economic recovery in China. The South Korean won rose to the highest in over one month to the US dollar. The Korea Composite Stock Price Index (KOSPI) rose 31.61 points, or 1.2 percent, to close at 2,669.66. Trading volume was moderate at 458.66 million shares worth 7.32 trillion won ($5.9 billion), with gainers outpacing decliners
May 30, 2022
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Naver launches AI call service aimed at seniors
Tech giant Naver said Monday that it has officially launched an artificial intelligence-based call service for older people who live alone. The service, Clova AI Contact Center Solution, is operated by the company’s AI technology Hyperclova, which calls and checks up on users about their eating habits, sleeping patterns and potential health problems. The AI has adopted high-quality voice synthesis and voice recognition engines to allow for seamless conversation with users, as if they ar
May 30, 2022
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[Photo News] Fresh Monday
Buses are seen operating in central Seoul on Monday. Bus and taxi drivers are eligible for the COVID-19 cash handouts worth 3 million won ($2,400) as part of the government‘s 62 trillion won extra budget bill, which was approved by the parliament on the same day.
May 30, 2022
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Samsung Display to fully exit from LCD TV panel business in June
Samsung Display, the display making arm of Samsung Electronics, is poised to fully shut down its unprofitable liquid crystal display panel business for televisions in June, after over 30 years of operation. “(Samsung Display) will terminate its supply of LCD panels in June,” an industry source said Monday. The company has been manufacturing its lower-end panels in Asan, South Chungcheong Province. The long-awaited move came as LCD TV panel prices have been on a constant decl
May 30, 2022
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Playing games at back seats: carmakers focus on in-car entertainment
Carmakers’ efforts to turn vehicles into moveable spaces for media platforms will lead to more collaborations between carmakers, content providers and IT companies, as well as the growth of related markets, according to the industry on Monday. Carmakers have been seeking ways to upgrade the in-car entertainment experience, by developing software for playing games and watching videos. Carmakers are also introducing wide multi-screens that can also satisfy passengers in the back seat
May 30, 2022
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Korea to double chip talents
South Korea will double the number of professional semiconductor talents by implementing chip-company-licensed departments and strengthening graduate programs at major science institutes across the country, the Ministry of Science and ICT said Monday. Science Minister Lee Jong-ho met with industry leaders including chiefs of Samsung Electronics and SK hynix as well as presidents of four major science institutes -- KAIST, GIST, DGIST and UNIST -- to discuss ways to cooperate for nurturing semic
May 30, 2022
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Unspent value on prepaid coffee cards, online coupons record W270b—mostly from Starbucks
The South Korean coffee industry has accumulated approximately 270 billion won ($216 million) worth of unspent stored value on prepaid cards and online coupons, said People’s Power Party lawmaker Yun Chang-hyun on Monday, citing a report from the Fair Trade Commission. About 92 percent of the unredeemed balance -- 250 billion won out of the 270 billion won -- came from Starbucks Korea, according to the report. Unspent stored value refers to the balance that is charged on gift cards and
May 30, 2022
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Terraform Labs Korea dissolved in 2021, allegedly to evade taxes
Terraform Labs, the Singapore-based company behind the troubled coins terraUSD and luna, had shut down its South Korean branch last year to allegedly evade paying taxes, local news reports showed Monday. Reports also found that the company technically dissolved its South Korean branch months before the shutdown was officially announced. Despite recent court documents showing the blockchain company’s decision to officially shut down its Korean branch through a shareholders meeting held Apr
May 30, 2022
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LS seeks new momentum in electrification
As he took office in January, LS Group Chairman Koo Ja-eun vowed an “ambidextrous management” to maximize synergy between existing core businesses and new businesses for the future. “With advanced technology in electricity and materials in one hand, and future technologies such as artificial intelligence, big data and Internet of Things in the other, we will offer solutions of customer-oriented value in a balanced manner,” Koo said. It comes as Koo and Myung Roe-hyun, c
May 30, 2022