Most Popular
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Korea enters full election mode
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Immigrant woman stabbed to death by Korean husband
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Seoul bus drivers go on general strike, cause morning rush hour delays
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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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Official campaigning kicks off for April 10 elections
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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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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
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Samsung Electro-Mechanics to launch ‘weatherproof’ camera modules for cars
Samsung Electro-Mechanics is set to start mass production of “weatherproof” camera modules with cutting-edge water-repellent capabilities and heating features for cars this year, the company said Sunday. In the wake of growing demand for enhanced image quality in automotive assistance features and the development of autonomous driving technology, Samsung aims to expand its presence in the camera module industry with its advanced technologies. "Accidents occur when camera sensors
March 17, 2024
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[Herald Interview] Lithium-rich Chile seeks to lure more Korean investment
Chile's Ministry of Public Works and the investment promotion agency, InvestChile, recently visited Seoul to boost the country's infrastructure and technology sectors, inviting investors in Korea to participate in its extensive portfolio of projects. During an interview with The Korea Herald at the Embassy of Chile in central Seoul on Thursday, InvestChile Director Karla Flores and Concession General Director Juan Manuel Sanchez shed light on their strategies to attract new investment
March 17, 2024
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[Photo News] Bank for senior customers
A new Hana Bank branch in Daejeon features a cultural space tailored to senior customers. The Hana 50+ Culture Bank, the 10th of its kind, aims to offer diverse cultural and educational programs to better meet the growing needs of the older generations. (Hana Financial Group)
March 17, 2024
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Korea ranks 8th in crypto gains in 2023: report
South Korea was ranked eighth globally in terms of cryptocurrency profits last year, according to a report by blockchain data analytics firm Chainalysis on Sunday. Investors around the world saw a combined $37.6 billion in their crypto gains in 2023. The figure was a 76 percent plunge from a $159.7 billion profit in 2021 but a drastic rebound from a $127.1 billion loss in 2022. The relatively modest gains last year imply a more cautious approach by investors in liquidating their crypto assets, t
March 17, 2024
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Samsung C&T shareholders vote down activists' dividend hike proposal
Samsung C&T has made it through a challenging proxy season with its shareholders backing its 10 percent increase plan for dividend payouts, averting resistance from activist funds that called for significantly higher returns. Its shares sank nearly 10 percent after the general shareholders meeting took place Friday. The company's proposal to pay a dividend of 2,550 won ($1.90) per common share and 2,600 won for each preferred share was approved. Among valid stocks with voting rights, 77
March 15, 2024
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Yuhan restores chairperson post after 28 years
South Korean pharmaceutical giant Yuhan has decided to reinstate the chairperson and vice chairperson positions for the first time in 28 years, since Chairman Yeon Man-hee stepped down from his post in 1996. Yuhan shareholders approved changes to the articles of incorporation to reestablish the posts during the 101st general meeting of shareholders on Friday. Who will become the company’s chairperson and vice chairperson, however, has not yet been decided, according to the company. “
March 15, 2024
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Naver to reform news service for transparency
Korean internet giant Naver said Friday it would introduce a set of news service policies to enhance transparency and impartiality, with the intention of preventing defamatory media reports and strengthening measures againsts users who leave comments that violate election laws. To protect users who have suffered defamation or infringement of their rights due to media reports, Naver will provide easier access to request corrections and respond to articles online. The company will create a separat
March 15, 2024
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Overseas direct purchases to lead e-commerce trends: data
Amid escalating competition in Korea's e-commerce landscape, direct overseas transactions between individual sellers and consumers have become a growing trend, according to eBay. On Friday, eBay unveiled insights into this year's online direct purchase market, drawing from comprehensive annual sales data of Korean sellers gathered through its platform. Three major keywords were "Collectibles," "North America" and "March." Particularly, the keyword "Co
March 15, 2024
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Samsung Electronics' workers threaten first-ever strike
Samsung Electronics could face its first-ever labor strike, as unionized workers have secured the right to legally conduct a walkout after wage talks between management and labor have fallen through, according to industry sources Friday. The National Labor Relations Commission, a government agency under the Labor Ministry, held a coordinating session to arbitrate the wage deal between the two parties a day earlier, but ended up deciding to stop the talks as the two sides could not reach an agree
March 15, 2024
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Nongshim earns over 50% of its profit from overseas on K-food hype
The sales and operating profit of South Korea's top ramyeon maker Nongshim hit all-time highs last year thanks to the popularity of ramyeon products in foreign markets, the company said Friday. The company’s operating profit in 2023 jumped by 89.1 percent from a year earlier to reach 212 billion won ($159 million), while its annual sales came to 3.4 trillion won, up 9 percent on-year. "As global inflation stubbornly remains high, ramyeon products have appealed to foreign consumer
March 15, 2024
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[Investor] Samsung Electronics to receive $6b subsidy in US
The US Department of Commerce is poised to grant Samsung Electronics subsidies exceeding $6 billion, according to a news report Friday. “The US plans to award more than $6 billion to Samsung Electronics, helping the chipmaker expand beyond a project in Texas it has already announced,” Bloomberg reported, citing multiple unnamed sources. The federal funding for Samsung, South Korea’s leading chipmaker, comes alongside significant additional US investments being made by the firm,
March 15, 2024
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Bank Shinhan Indonesia, Indodana collaborate for digital lending service
Shinhan Bank on Friday said that its Indonesian subsidiary has teamed up with an Indonesian financial technology company to bolster its presence in the digital platform-based loan market in the Southeast Asian country. Bank Shinhan Indonesia and PT Artha Dana Teknologi Indodana signed a memorandum of understanding at the bank's headquarters in Jakarta on Thursday. PT Artha Dana Teknologi Indodana is a licensed digital transaction solution provider with 830,000 active users, offering install
March 15, 2024
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[Photo News] Korean Air's new engine maintenance complex
Hanjin Group Chairman and Korean Air CEO Walter Cho (center) attends the groundbreaking ceremony of the flag carrier’s new aircraft engine maintenance cluster in Unbuk, near Incheon International Airport, on Thursday. The new 578 billion won ($439 million) facility, set to be operational by 2027, is expected to become the largest engine maintenance complex in Asia with an annual capacity of handling maintenance of some 360 aircraft. “The new facility will pave the way for Korean Air
March 14, 2024
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Alibaba pledges $1.1b investment for Korea expansion
Alibaba Group, the company of Chinese e-commerce giant AliExpress, renowned for its budget-friendly offerings, plans to invest more than $1 billion in Korea over the next three years, with a massive distribution center being built within the year. According to industry sources on Thursday, Alibaba has recently submitted its business expansion plan in Korea, including an investment of $1.1 billion, to the local authorities possibly for regulatory approval. The investment plan includes a new distr
March 14, 2024
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New space agency hints at ‘no salary cap’ for workers
South Korea on Thursday began the official recruitment process for its new space body, Korea Aerospace Administration, or KASA, hoping to attract the best talent from in and outside the country. The government’s preparatory office for KASA held its first offline recruitment presentation in Sacheon, South Gyeongsang Province, where the KASA headquarters will be launched on May 27. As Korea has repeatedly underlined its interest in drawing in top-tier space professionals regardless of nation
March 14, 2024
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Toss Securities poised to become top retail broker
Toss Securities, a brokerage arm under financial technology giant Viva Republica, shared its vision Thursday to become a leading player in the Korean retail trading market, launching new services ranging from bonds to derivatives to diversify its portfolio. “Until last year, Toss Securities worked on proving its lucrativeness as a brokerage house. This year, it will achieve meaningful results both in profitability and growth by offering diverse financial products,” Toss Securities CE
March 14, 2024
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SK Ecoplant launches IT recycling facility in Virginia
Energy and environmental solutions provider SK Ecoplant announced Thursday the launch of a new IT Asset Disposition facility in Virginia through its recycling subsidiary, SK tes. The newly completed facility, spanning 12,000 square meters, is designed specifically for hyperscale data centers. It will manage the entire lifecycle of information technology assets, from collection and secure data destruction to recycling and reuse. Situated in a vital corridor of Virginia, where 70 percent of the wo
March 14, 2024
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Doosan’s robot surgery solution sees successful debut
Doosan Robotics, South Korea's leading collaborative robot provider, announced Thursday the successful practice of its robotic-assisted laparoscopic surgery solution, marking the debut of a Korean-made solution in a real surgical environment. The solution was employed for laparoscopic cholecystectomy, a procedure to remove a diseased gallbladder, performed at Koo Hospital in Daegu on Tuesday. Laparoscopic surgery involves treating conditions within the abdomen through tiny incisions. Develo
March 14, 2024
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Taeyoung shares suspended amid debt restructuring
Shares of Taeyoung Engineering & Construction Co., a troubled mid-sized builder, were suspended Wednesday due to its negative net asset balance amid an ongoing debt restructuring, company officials said. Its main creditor, the state-run Korea Development Bank, said it is extending the deliberation period for the restructuring plan by up to one month to allow more time before finalizing plans to normalize the company. Taeyoung, the 16th-largest builder in South Korea in terms of constructio
March 13, 2024