Most Popular
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Korean labor force to shrink by 10 million by 2044: report
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Allegations surrounding BTS resurface, enraged fans demand apology
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Medical feud leaves hospitals in financial crisis
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'Queen of Tears' riding high on Netflix chart
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Chip up cycle won’t stay long: SK chief
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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With Indonesia unable to pay full share, what’s next for KF-21 fighter project?
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Posco aims to expedite carbon-neutral transition
South Korean steel giant Posco has recently reaffirmed its commitment to achieving carbon neutrality by 2050 by adopting its own hydrogen reduction ironmaking technology, called HyREX. This strategic shift to low-carbon production is a testament to the company's ambitious pursuit of solidifying its leadership in the realm of sustainable steel manufacturing. To spearhead this transformation, the company set up a new team solely dedicated to carbon neutrality under the oversight of its CEO in
Feb. 23, 2024
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Tech rivals eye big VR bets despite mixed reviews of Apple’s Vision Pro
Less than a month has passed since the high-profile debut of Apple Vision Pro, the most advanced augmented reality headset in the market. Despite mixed reviews, Apple's rivals seem keen to make a similar entry into the brand-new segment. Dazzling demonstrations of the Apple Vision Pro made it look like a game changer, allowing the user to pop up their computer screens in the air, and control it with their fingertips and by moving their eyes around. But some users have been seen returning th
Feb. 23, 2024
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Sprinkles Cupcakes coming to Seoul
Sprinkles Cupcakes, the famed cupcake specialist from California, is poised for a debut in the Korean market this year – its first venture beyond US borders, according to the company on Friday. Sprinkles said it will introduce its trendy cupcakes, cookies and chocolate treats globally this year, with imminent expansions planned for Singapore and Malaysia as well. For the upcoming Seoul store, the firm is expected to team up with Korean bakery giant SPC Samlip. For other international openi
Feb. 23, 2024
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KT&G names company veteran as new CEO
KT&G Senior Executive Vice President Bang Kyung-man has been selected as the candidate for CEO of Korea's largest cigarette manufacturer, the company said Thursday. Bang's official appointment is scheduled to be made at the end of March during the regular shareholders' meeting. If Bang is appointed, it will mark the first change in KT&G's presidency in nine years. Earlier on Feb. 16, the company's CEO Recommendation Committee unveiled the shortlist of four candid
Feb. 23, 2024
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Kolmar Korea finds anti-aging microorganism
Kolmar Korea, a cosmetics original design manufacturer, said Thursday it has found a microbiome that can slow down skin aging induced by sun exposure for the first time, which could be a breakthrough innovation in the anti-aging skincare industry. Photoaging refers to the characteristic changes to the skin caused by cumulative sun damage over a lifetime of exposure. Recent research has found that the skin microbiome could serve as a potential tool to prevent and treat skin photoaging. Kolmar Kor
Feb. 22, 2024
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Samsung, LG maintain TV leadership amid Chinese rush
Korean TV makers Samsung Electronics and LG Electronics cemented their leadership in the global premium TV market in 2023, but they have been warned to gear up for Chinese rivals flooding the market with cheaper products. In the premium sector for TVs priced at higher than $2,500, Korean manufacturers saw notable growth, together taking 79.6 percent of the market share by revenue, according to market tracker Omdia on Thursday. Holding an edge in manufacturing technology for the higher-end TVs, t
Feb. 22, 2024
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Posco Future M breaks ground on cathode plant in Gwangyang
GWANGYANG, South Jeolla Province -- Posco Future M on Thursday held a groundbreaking ceremony for a new high-nickel cathode plant in Gwangyang, South Jeolla Province, maintaining the company’s continued investment in battery materials for electric vehicles despite the slowdown in the global EV transformation. The new high-nickel cathode plant, which expects to have an annual production capacity of 52,500 tons, is slated to complete its construction in the first half of 2025. According to P
Feb. 22, 2024
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Posco’s new leadership taking shape
As former Posco President Chang In-hwa is poised to take on the Korean steel giant's chairmanship, how his leadership might impact on the group's innovation drive for eco-friendly, future material business remains in question. Posco Holdings convened its regular board meeting on Wednesday to announce the executives of major affiliates and to resolve the nomination of Posco Group's chair candidate. Chang will officially assume the chair position of the nation's fifth-largest b
Feb. 22, 2024
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Korea faces antibiotics shortage as drugmakers halt production
South Korea is confronting a deepening shortage of cephalosporins, a commonly prescribed class of antibiotics used to treat a range of bacterial infections, as pharmaceutical firms discontinue product lines due to unprofitability and growing raw materials costs. “As the number of local and overseas pharmaceutical companies have recently halted or downsized cephalosporins production here, it has become increasingly difficult to get them,” an industry source from one of the largest pha
Feb. 21, 2024
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Meta CEO to visit Seoul next week possibly on AI partnership
Mark Zuckerberg, CEO of Meta, formerly Facebook, is planning to visit Korea as early as next week, which would mark his first visit to the country in more than a decade, according to industry sources and the presidential office on Wednesday. Although details of his upcoming trip are unknown, sources predicted that the Meta founder could meet with Samsung Electronics Chair Lee Jae-yong, as he did during his first trip to Korea in June 2013. If the two tycoons meet, the agenda is likely to inclu
Feb. 21, 2024
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SK Ecoplant, SK hynix forge renewable energy alliance
Korean energy and environmental solutions provider SK Ecoplant formed a power purchase agreement with its sister firm SK hynix to facilitate the provision of renewable energy, thereby aiming to become the leading RE100 solutions provider, the firm announced Wednesday. The signing ceremony was attended by representatives from both companies, including Bae Seong-jun, vice president and head of SK Ecoplant's energy business center and Lee Byung-rae, vice president of SK hynix. "Utilizing
Feb. 21, 2024
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Samsung, UK's Arm team up to produce advanced AI chips
Samsung Foundry, Samsung Electronics' chip manufacturing arm, is teaming up with the UK's Arm to adopt the firm's design assets for Samsung's most advanced chip-making process technology, Gate-All-Around, which aims to boost the company's edge in the global AI chip sector. Samsung Foundry announced Wednesday that it will deliver the next generation Arm Cortex™-X CPU optimized on its cutting-edge Gaa process technology. The collaboration between the two companies is
Feb. 21, 2024
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LG Energy Solution, suppliers seek to create sustainable value for clients
South Korea’s top battery maker LG Energy Solution is committed to a management policy focused on sustainable growth with its partner firms, driven by a spirit of cooperation and mutual growth. The company said it aims to bolster the competitiveness of its suppliers, even amid management uncertainties while maintaining its leadership position in the market. Under the banner of mutual growth, the company has implemented support programs encompassing both short-term goals such as cost compet
Feb. 21, 2024
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Samsung chief's return to board pushed back as trial continues
More than a year has passed since Samsung Electronics Chairman Lee Jae-yong ascended to the company's top seat in 2022, but his board membership continues to hang in the balance amid an ongoing legal dispute. Samsung Electronics held a board of directors meeting Tuesday and fixed the date of the upcoming general shareholders meetings for March 20. During the meeting, the members also appointed Shin Je-yoon, former Financial Services Commission chairman, and Cho Hye-kyung, an applied artific
Feb. 20, 2024
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Korean Air to finalize Asiana cargo biz sale by October
Flag carrier Korean Air, having recently secured conditional approval from the European Union's antitrust regulator for its merger with Asiana Airlines, is mandated to initiate the sale of Asiana Airlines' cargo division as part of the conditions for approval. According to sources in the investment banking and aviation sectors, Switzerland-based financial services firm UBS, tasked with selling Asiana Airlines' cargo division, has recently disseminated prospectuses and nondisclosur
Feb. 20, 2024
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[Photo News] Galaxy experience space in Barcelona
Samsung Electronics has opened a brand experience space at the Plaza de Catalunya in Barcelona, Spain, ahead of the upcoming MWC Barcelona 2024, the telecom industry's largest annual gathering, which kicks off Monday next week. Visitors can experience the tech giant’s latest flagship smartphone, the Galaxy S24 series, alongside diverse Galaxy AI features, until Feb. 29. (Samsung Electronics)
Feb. 20, 2024
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Naver Webtoon eyes Nasdaq listing in June
South Korean internet giant Naver is pushing to have its online comics operator Webtoon Entertainment go public on the US Nasdaq as early as June, according to a recent Bloomberg report. Webtoon Entertainment is the head office for the online comics business Naver Webtoon, and has been based in Los Angeles since May 2020. The firm, with a 71.2 percent stake owned by Naver, manages the overall online comics operations and the content platform business. While there has been talk that the online co
Feb. 20, 2024
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8 in 10 builders struggle to pay back debt interest
Eight out of ten construction firms here said they are experiencing difficulties in paying debt interest, according to a local survey released on Monday. According to the Federation of Korean Industries' survey involving 102 construction companies among the top 500 construction firms, 76.4 percent of the respondents said they are experiencing difficulties paying debt interest with their operating profit. Only 17.7 percent said they can cover debt interest with their profits. “Not only
Feb. 19, 2024
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Samsung’s foldable display boasts US military-grade durability
Samsung Display on Monday said its foldable panel for smartphones has passed the US military’s material durability test, proving its strength in withstanding the harsh conditions of operational and combat zones. According to the display maker, its 7-inch foldable panel used in the latest foldable smartphones passed the MIL-STD 810G test, which is the US Department of Defense's military standard. First developed as a certification for equipment and materials for military applications,
Feb. 19, 2024
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Coupang, Yuhan join labor policy-focused business lobby
E-commerce giant Coupang and pharmaceutical firm Yuhan Corp. are set to join the Korea Enterprises Federation, a business lobby representing over 4,000 businesses here, according to industry sources on Monday. Some 10 firms, including Coupang, have submitted membership applications to the group, which are subject to approval from board directors and existing members at a meeting slated for Wednesday. Coupang’s decision came after three years of deliberation since its parent company, Coupan
Feb. 19, 2024