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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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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[Herald Interview] Why Toss invited hackers to penetrate its system
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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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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Suspect in murder of girlfriend's mugshot, name made public
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4 companies to recall over 2,500 vehicles over faulty parts
Tesla Korea, BMW Korea and two other companies will voluntarily recall more than 2,500 vehicles to fix faulty components, the transport ministry said Thursday. This is the latest in a series of recalls by carmakers in South Korea and vehicle importers due to problems with vehicle components. The two other companies are MAN Truck & Bus Korea and Moto Rossa, which imports Ducati Motor Holding S.p.A's two wheelers, the Ministry of Land, Infrastructure and Transport said in a statement. The
Nov. 18, 2021
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Property technology sees boom in pandemic era, but caution is needed: experts
Property technology startups, companies that provide digital services in the real estate industry, are enjoying the spotlight due to the digital transformation sparked by the COVID-19 pandemic, but challenges lie ahead, experts said Wednesday. “Before COVID-19, the real estate industry was one of the most hesitant to implement innovative digital technology. That was largely because clients needed to visit and see the interior work for themselves before making any investment decisions,&rd
Nov. 17, 2021
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DataStreams wins tech award
DataStreams said Wednesday its CEO won a bronze tower order of industrial service merit from the government for the company’s technological prowess in big data solutions. Founded 20 years ago, DataStreams is a leader of the local big data solution market and is taking steps to get listed in Kosdaq. In addition to the order of merit won by CEO Lee Young-sang, the company’s big data platform named TeraONE won a tech award from the minister of trade, industry and energy. By Kim So-hy
Nov. 17, 2021
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LG Innotek wins presidential commendation
LG Innotek said Wednesday one of its senior officials won a presidential commendation at the 2021 Korea Tech Show for developing innovative technology and products. Lee Kwang-tae, head of LG Innotek’s package substrate production division, received the award for contributing toward enhancing the competitiveness of Korea’s semiconductor substrate industry. Lee joined LG Electronics in 1999 and has worked on substrate development and production technology. Since 2008, he has led the
Nov. 17, 2021
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Naver taps 40-year-old female exec as new CEO
Naver, the No.1 portal operator and internet firm in South Korea, announced Wednesday it has nominated Choi Soo-yeon as new chief executive officer. Choi, born in 1981, would mark the youngest leader of the company so far. The appointment of Choi is interpreted as the tech firm’s intention to overhaul its corporate culture and accelerate business growth in the global market. A Seoul National University graduate with an engineering degree, Choi joined Naver as an entry-level employee
Nov. 17, 2021
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Seoul to pour more money to nurture local materials, parts industries
South Korea will spend 20 billion won ($16.9 million) next year to nurture local industries for materials, parts and equipment for chips, future cars, bio products and nanotechnologies, officials said Wednesday. Finance Minister Hong Nam-ki, unveiling a road map to identify and strengthen the weakest link in the country’s industrial value chain, said if all goes as planned, the country will see a drastic decline in imports of essential parts and equipment in backbone industries. &ldqu
Nov. 17, 2021
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Yuhan to begin phase 1 clinical study for NASH treatment candidate
South Korean pharmaceutical firm Yuhan said Wednesday that the company’s nonalcoholic steatohepatitis treatment candidate YH25724 will go through a phase 1 clinical trial in Europe. The test will involve some 80 healthy overweight adults to test safety, tolerability and pharmacodynamics of the NASH drug candidate. Yuhan expects that the study to be completed by June next year. With the commencement of the trial, the Korean firm will receive a milestone payment of $10 million from Bo
Nov. 17, 2021
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Chey to attend FTC meeting over SK Siltron case
SK Group Chairman Chey Tae-won will attend a Fair Trade Commission session next month involving SK Siltron, the antitrust body said Wednesday. The antitrust watchdog has been looking into SK Group’s 2017 buyout of LG Siltron for the past four years, following suspicions that the SK Group chairman’s personal purchase of a stake in the firm violated the law. In January 2017, the conglomerate acquired a 51 percent stake in LG’s silicon wafers manufacturing unit, now named SK Sil
Nov. 17, 2021
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Hyundai’s auto designer Peter Schreyer features in new book
Peter Schreyer, the renowned car designer now leading Hyundai Motor Group’s design management, is featured in a new book “Roots and Wings,” a Korean edition of which is to hit local shelves soon. Originally published in English last month, the book explores Schreyer’s life and legacy as one of the most influential automotive designers, the Korean business group behind Hyundai Motor and Kia said Wednesday, announcing the Nov. 25 release of the Korean edition. Schreyer,
Nov. 17, 2021
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D&C Mineun, Wanfeng Group team up for development project in Laos
Real estate investment firm D&C Mineun has signed a business partnership with Shanghai-based Wanfeng Property to take part in the company’s development project in the Thatluang Lake Special Economic Zone in Laos, supported by the Laotian government, officials said Wednesday. Chairmen of the two companies held the signing ceremony with Sinlavong Khoutphaythoune, president of the Lao Front for National Construction, who also serves as a politburo member of the Central Com
Nov. 17, 2021
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Samsung’s pick for 2nd foundry fab in US seems imminent
With Lee Jae-yong, the de facto leader of Samsung Electronics, currently in the US, industry observers expect the company to decide on the final location for its second foundry plant in the US, according to news reports Wednesday. Some US media based in Texas reported Tuesday that the South Korean chipmaker appeared to have narrowed down its list of candidate sites for the new foundry fab believed to be worth $17 billion. It was found that Samsung has withdrawn its application filed in Ja
Nov. 17, 2021
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Korea-US alliance worth up to 3,000 trillion won for South Korea: KERI
The Korea-US alliance has been estimated to possibly be worth over 3,000 trillion won ($2.53 trillion) for South Korea, according to a new study by the Korea Economic Research Institute. The Seoul-based think tank estimated in a report that the bilateral alliance has generated an economic value of between 923.82 trillion and 3,041 trillion won during the 21 years since 2000. “For the stability and continued prosperity of South Korea, maintaining a strong alliance with the US is critic
Nov. 17, 2021
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[Behind the Wheel] Audi e-tron GT all set to turn up heat in e-sports car competition
As the wave of electrification reaches sports cars, the race is heating up among global brands to push the performance boundaries of the relatively new powertrain. In Korea, the competition is to intensify with Audi set to challenge the Porsche Taycan with its e-tron GT and RS e-tron GT. Before the official launch of the two cars, The Korea Herald had the chance to take them for a short test drive on a course involving substantial speed and a slalom test at Seoul Grand Park in Gwacheon, Gyeo
Nov. 17, 2021
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Seoul stocks dip over 1% amid inflation worries
South Korean stocks retreated more than 1 percent Wednesday, as strong US economic data raised concerns about an earlier than expected rate hike by the US Federal Reserve amid rising inflation. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) lost 34.79 points, or 1.16 percent, to close at 2,962.42 points. Trading volume was moderate at about 533 million shares worth some 10.5 trillion won ($8.9 billion), with losers outnumbering gainers 730 to
Nov. 17, 2021
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Listed firms' on-year net profit nearly triples in first 9 months
The combined net profit of listed South Korean companies rose 165.8 percent in the first nine months of this year from a year earlier, the bourse operator said Wednesday. The combined net profit of 586 out of 670 firms listed on the main Kospi bourse came to 128 trillion won ($108 billion) in the January-September period, up from 48.19 trillion won during the same period of last year, according to the data compiled by the Korea Exchange (KRX). The bourse operator excluded 84 out of 670 compani
Nov. 17, 2021
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Analysts divided over 2022 Kospi outlook
Analysts in and out of the country remained divided on their outlooks for South Korea’s benchmark Kospi next year this week, noting volatilities stemming from inflationary pressures, a memory down cycle and Korea’s presidential election in March. Morgan Stanley analysts on Wednesday slashed their growth target for South Korea’s benchmark Kospi by 250 points to 3,000 for end-2020, citing an ongoing unfavorable environment for the equity market and pointing to the upcoming pres
Nov. 17, 2021
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Scam warning issued over @top-sale-korea.com mail accounts
The Korean Consumer Agency on Wednesday issued a scam warning over websites and emails with a “top-sale-korea.com” URL. The institution has received a total of 66 consumer complaints regarding the address as of Oct. 20, it said. In 65 percent of the cases, the sites arbitrary canceled orders without giving a refund. The rest concerned vendors going out of contact after delivery of defective or faulty products. Customers were lured into the websites via social media advertise
Nov. 17, 2021
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MBK Partners reaches $1.8b close for 2nd special situations fund
Private fund house MBK Partners said Wednesday it had reached a final close for its second flagship fund at $1.8 billion to invest under a “special situations” strategy. The East Asia-focused opportunistic fund, named MBK Partners SSF II, is estimated to be the largest special situations fund managed by an Asia-based investment firm since 2019, according to market intelligence service firm Preqin. Special situations refer to an investment strategy in which a fund manager bets on a
Nov. 17, 2021
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Kyobo Life to complete IPO by H1 2022, hints at expanding financial services
South Korean insurer Kyobo Life Insurance plans to go public on the Korea Exchange by 2022, a process stalled due to a shareholder feud over the past few years, the company said Wednesday. The initial public offering will lay the groundwork for the company to turn into a financial group with a holding company structure to offer a wider range of financial services other than insurance, setting aside its yearslong battle against minority shareholders, according to the company. The life insurer,
Nov. 17, 2021
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App store operators to face fine of up to 2% of revenue in violation of billing law
App store operators will face a fine of up to two percent for forcing developers to use their own in-app payment systems, the country's telecommunications regulator said Wednesday. Under the enforcement decree of the revised law aimed at curbing Google Inc. and other app store operators' dominance, such app store operators will have to pay one percent of their revenue for delays in reviewing apps, according to the Korea Communications Commission (KCC). In August, South Korea made amendments to
Nov. 17, 2021