Most Popular
-
1
Exports to US reach all-time high, widen gap with China
-
2
Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
-
3
[Music in drama] Rekindle a love that slipped through your fingers
-
4
S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
-
5
[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
-
6
On May Day, labor unions blast Yoon's foreign nanny proposal
-
7
Seoul Metro to seek legal action against malicious complaints
-
8
[KH Explains] Will alternative trading platform shake up Korean stock market?
-
9
Illit, mired in controversy, remains on Billboard charts for 5th week
-
10
S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
-
Hyundai Steel joins hands with KIER for advancing carbon neutral tech
Hyundai Steel has signed a memorandum of understanding with the Korea Institute of Energy Research to push for comprehensive cooperation on technologies in the energy and environment sectors with the goal of leading the steel industry’s movement towards carbon neutrality. According to the South Korean steelmaker, Hyundai Steel CEO Ahn Dong-il and KIER President Kim Jong-nam attended the MOU ceremony held at the KIER in Daejeon on Friday. The two sides agreed to work together to develop
May 22, 2022
-
SK ecoplant acquires 30% shares in Malaysia’s Cenviro
SK ecoplant, the engineering and construction unit of South Korean conglomerate SK group, has partnered with Malaysia’s state-operated waste management firm Cenviro to expand its environmental business in the global market. SK ecoplant inked a share purchase agreement on Friday with Malaysian sovereign wealth fund Khazanah Nasional to acquire 30 percent of Cenviro shares. The Malaysian waste management company is wholly owned by Khazanah Nasional. Cenviro built Malaysia’s first
May 22, 2022
-
BOK likely to lift rate to tame rapid inflation: economists
The Bank of Korea is likely to raise the benchmark rate by 25 basis points to 1.75 percent this Thursday as Asia’s fourth-largest economy combats persistent inflation and shrinking growth, according to eight out of nine economists polled by The Korea Herald. But the central bank, which usually changes its rate in 25-basis point increments, is unlikely to back a sudden 50-basis point raise because there’s ample room left for more hikes in the latter half of this year when inflation c
May 22, 2022
-
Biden to meet Hyundai Motor chief on new investment plan
US President Joe Biden will meet Hyundai Motor Group Chairman Chung Euisun on Sunday in Seoul to thank him for investment in the state of Georgia, Washington’s national security adviser Jake Sullivan said Thursday. The US president is scheduled to arrive in Seoul later in the day for his three-day state visit for summit talks with President Yoon Suk-yeol. His planned meeting with the Hyundai Motor chief comes amid reports that the South Korean auto giant will announce a $7 billion inv
May 21, 2022
-
Hyundai to build $5.54 bln EV, battery plant in Georgia
South Korea's Hyundai Motor Group said Saturday it will invest US$5.54 billion to build a dedicated electric vehicle and car battery manufacturing plant in the United States to further solidify its electrification push in the world's most important automobile market. The announcement comes as US President Joe Biden is visiting South Korea as part of his first trip to Asia amid ongoing tension with China and continued provocations from North Korea. Hyundai Motor Group plans to start constructi
May 21, 2022
-
[Herald Interview] Korea’s first coloring shampoo seeks breakthrough in overseas markets
Moda Moda, the South Korean producer of the world’s first coloring shampoo using the browning reaction in stale bananas, is seeking a breakthrough in overseas markets to sidestep cumbersome regulations at home. The company is revamping overseas operations to extend its sales network connecting the US, China and Japan. Korean beauty products are increasingly popular in these countries, riding high on the popularity of K-content. Unlike many other K-beauty brands that depend heavily on l
May 20, 2022
-
Seoul stocks sharply rebound on dip-buying, ahead of Biden visit
South Korean shares advanced Friday as investors scooped up oversold stocks and pinned hopes for expanded business ties between South Korea and the United States. The Korean won steeply rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 46.95 points, or 1.81 percent, to close at 2,639.29 points. After a volatile week from high inflation, the key stock index gained 1.35 percent from a week ago. Friday's trading volume was moderate at about 743 million s
May 20, 2022
-
S-Oil CEO apologizes for Ulsan refinery explosion
S-Oil Chief Executive Officer Hussain A. Al-Qahtani on Friday apologized over the explosion of its refinery in Ulsan, about 415 kilometers southwest of Seoul, and promised to take all measures possible to prevent such incident from happening again. “I would like to express my deepest condolences and apologies to the deceased who lost his life from an incident in S-Oil Onsan Refinery and to his family. My apologies also go out to the injured workers and local residents close to the refine
May 20, 2022
-
Taiwan’s Fubon Financial becomes third-largest shareholder in Hyundai Card
Taiwanese banking giant Fubon Financial on Friday raised its stake in South Korea’s Hyundai Card to nearly 20 percent, expanding its clout over management of the card issuer. Fubon Financial is now the card issuer’s third-largest shareholder with 19.98 percent after Hyundai Motor with 36.96 percent and Hyundai Commercial with 28.56 percent. Kia Corp. is the fourth-largest stakeholder with 11.48 percent. The latest announcement puts a final stamp on the exit of a consortium led by
May 20, 2022
-
Engineering veteran Roberto Rempel named new CEO of GM Korea
General Motors on Friday named Roberto Rampel, current president of GM Technical Center Korea, as president and CEO of GM Korea. Rempel, an engineering specialist, will start his term on June 1 when his predecessor Kaher Kazem leaves for his new role as executive vice president of SAIC-GM in China. GM expressed high hopes for the new CEO in winning more customers in both domestic and exports markets, and improving the overall competitiveness of GM’s Korean operations. “The GM K
May 20, 2022
-
Biden to meet Hyundai Motor chief on new investment plan
US President Joe Biden will meet Hyundai Motor Group Chairman Chung Euisun on Sunday in Seoul to thank him for investment in the state of Georgia, Washington’s national security adviser Jake Sullivan said Thursday. The US president is scheduled to arrive in Seoul later on Friday for his three-day visit for summit talks with President Yoon Suk-yeol. His planned meeting with the Hyundai Motor chief comes amid reports that the South Korean auto giant will announce a $7 billion investment
May 20, 2022
-
Netflix subsidiary to invest $100m in S. Korea
A subsidiary of Netflix will invest $100 million in South Korea over the next six years to build special visual effects facilities in a move that will help turn the country into an Asian hub for high-tech content creation, Seoul's industry ministry said Friday. Scanline VFX will carry out the investment plan by 2027, according to the Ministry of Trade, Industry and Energy. An event to officially announce the plan took place in central Seoul, with Stephan Trojansky, the head of the global vi
May 20, 2022
-
S. Korea to face 'grave' inflation risk for time being: official
South Korea is expected to face a "grave" risk from rising inflation for the time being, as the recovery of consumption will further add price pressure amid high energy costs, a senior government official said Friday. The government plans to beef up its monitoring of key items, including cooking oil and petroleum products, in a bid to ease the burden from elevated inflation, according to First Vice Finance Minister Bang Ki-sun. "Price situations facing the South Korean economy are
May 20, 2022
-
[Graphic News] Imports of home furnishings hit record high last year amid pandemic
South Korea’s imports of home furnishing products hit an all-time high last year on the back of demand by consumers staying home amid the COVID-19 pandemic, data showed. The imports of eight kinds of home furnishing goods, including sofas and lamps, came to $3.5 billion last year, up 15.6 percent from a year earlier, according to data from the Korea Customs Service. It rose 26.1 percent from the pre-pandemic year of 2019. By country, inbound shipments from China were the largest wi
May 20, 2022
-
Producer prices up for 4th month in April on energy, raw material price hikes
South Korea's producer prices grew for the fourth straight month in April as hikes in energy and raw material prices drove up costs of manufacturing products, central bank data showed Friday. The producer price index, a major barometer of consumer inflation, stood at 118.02 in April, up 1.1 percent from a revised 116.70 tallied a month earlier, according to the preliminary data from the Bank of Korea (BOK). From a year earlier, the index jumped 9.2 percent, faster than the previous month
May 20, 2022
-
Seoul stocks open higher on tech, auto gains
South Korean shares opened higher Friday, buoyed by strong advances by tech and auto heavyweights, despite overnight falls on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) had added 25.64 points, or 0.99 percent, to trade at 2,617.98 points as of 9:15 a.m. On Thursday, the index dipped 1.28 percent. Overnight, the Dow Jones Industrial Average and the tech-heavy Nasdaq composite declined, largely on continued pressure on inflation hikes. KOSPI's top cap Samsung Electro
May 20, 2022
-
S-Oil’s Ulsan refinery explosion leaves one dead, nine injured
An explosion at an S-Oil refinery in Ulsan, some 400 kilometers southeast of Seoul, left one person dead and nine others injured, firefighters said Friday. Firefighters were notified of an explosion at the S-Oil refinery at 8:52 p.m. on Thursday. The injured workers were transported to a hospital nearby. While the exact cause has yet to be determined, fire authorities said the accident occurred inside S-Oil’s refinery at Onsan industrial park while crude oil was being processe
May 19, 2022
-
Hyundai Glovis enters Thai market
Hyundai Glovis, a supply chain management arm under Hyundai Motor Group, said Thursday that it has launched an overseas corporation in Bangkok, as part of its business expansion strategy in the Southeast Asian market. Hyundai Glovis Logistics Thailand, a joint venture that has been formed with local auto parts manufacturers and logistics firms, will be responsible for creating synergy with its existing logistics points in Vietnam and Indonesia, the company said in a statement. According
May 19, 2022
-
[Newsmaker] Hanwha builds Korea's first beehive monitored by using solar energy
To honor the United Nation’s World Bee Day, Hanwha Group said Thursday that it has created the country’s first solar beehive which has been designed with a photovoltaic low-carbon structure that uses electricity generated through solar panel. Hanwha Group said it has installed the solar beehive at the Korea National University of Agriculture and Fisheries (KNUAF) as a part of its pilot program. At this beehive, about 40,000 bees will help pollinate the fruit trees on campus and vege
May 19, 2022
-
[Test Drive] Toyota’s manual sports car GR86 returns with enhanced engine
INJE, Gangwon Province - Toyota’s iconic motorsports car Gazoo Racing 86 is back, 10 years after its second-generation model was launched in South Korea. And while other models are sold on green credentials, the carmaker has made a play for petrolheads with the third generation of the car, increasing the size of the engine by 20 percent to 2.4 liters, and offering a maximum torque of 25.5 kilogram-meters. Design-wise, the GR86 is unremarkable, looking like a typical sports car that can b
May 19, 2022