Most Popular
-
1
Can Jennie break the K-pop solo artist slump?
-
2
Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
-
3
'Culinary Class Wars' producers deny trying to spice up results
-
4
Ex-president's daughter investigated for drunk driving accident
-
5
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
6
Seoulites celebrate coexistence at Wellness Seoul 2024
-
7
First lady’s Dior bag scandal to be at center of Assembly audit
-
8
Yoon honors veterans of Korean War in trip to Philippines
-
9
20 minors registered as CEOs making over 100 million won
-
10
Netflix, streaming platforms come under fire for loose ratings
-
LG Energy Solution wins 10-year battery supply deal from Mercedes
LG Energy Solution has secured a major long-term contract to supply electric vehicle batteries to a key affiliate of Mercedes-Benz. The deal, announced Tuesday, primarily targets North America and other key markets, although the exact regions were not specified. Under the terms of the agreement, LG will provide 50.5 gigawatt-hours of EV batteries over 10 years, starting in 2028. While financial details of the deal remain undisclosed, industry analysts believe it likely reaches billions of dollar
MobilityOct. 8, 2024
-
Korea launches antidumping probe into Chinese steel
Following the US and EU’s efforts to curb the flow of "underpriced" Chinese steel, South Korea has launched an anti-dumping probe into imports of Chinese-made heavy steel plates. The Korea Trade Commission under the Ministry of Trade, Industry and Energy announced on Friday that it initiated an investigation against the Chinese steel suppliers, including Shagang Group. The steel products in question, sheets 6 millimeters thick or more, are primarily used in shipbuilding. After a
IndustryOct. 8, 2024
-
SK Bioscience acquires $3m stake in US biotech firm
South Korean biotech firm SK Bioscience said Tuesday it has invested $3 million in the US-based biotech firm Fina Biosolutions to acquire a stake in the company as part of the company’s broader strategy to secure next-generation vaccine technologies and enhance its global competitiveness in the vaccine market. Founded in 2006, Fina Biosolutions specializes in conjugate vaccines widely used in vaccines to prevent illnesses such as pneumonia, meningococcal disease and typhoid. The company is
IndustryOct. 8, 2024
-
Hyundai reportedly begins EV production at Georgia plant
Hyundai Motor Group has reportedly begun early-stage production of electric vehicles at its new Hyundai Motor Group Metaplant America facility, located near Savannah, Georgia. According to a report on Saturday by the Atlanta Journal-Constitution, a major local newspaper in Georgia, Hyundai commenced production at the facility earlier last week. The company also reportedly held a private event on Thursday for employees to mark this achievement. The official completion ceremony for the plant is st
MobilityOct. 8, 2024
-
S. Korea logs current account surplus for 4th month in August
South Korea racked up a current account surplus for the fourth consecutive month in August, driven by robust exports, central bank data showed Tuesday. The country's current account surplus reached $6.6 billion in August, marking a surplus for the fourth consecutive month, according to data compiled by the Bank of Korea. The August surplus was smaller than the previous month's $8.97 billion. The country's goods account racked up a $6.59 billion surplus in August following an $8.33
EconomyOct. 8, 2024
-
Samsung's Q3 profit misses expectations on lackluster performance in AI chips
Samsung Electronics Co. on Tuesday estimated its third-quarter operating profit nearly tripled, but missed market expectations due to the lukewarm performance of its high-end memory chips used in artificial intelligence computing. The world's biggest maker of memory chips expected an operating profit of 9.1 trillion won ($6.8 billion) for the third quarter, up 274.5 percent from a year earlier, Samsung Electronics said in a regulatory filing. But operating profit retreated 12.8 percent from
IndustryOct. 8, 2024
-
Seoul shares open lower over weak Samsung earnings, US losses
Seoul stocks opened lower Tuesday following weaker-than-expected tentative earnings results from Samsung Electronics and overnight US stock losses. The benchmark Korea Composite Stock Price Index dropped 0.55 percent, or 14.28 points, to 2,596.10 in the first 15 minutes of trading. Ahead of the trading session, Samsung Electronics estimated its third-quarter operating profit to reach 9.1 trillion won, apparently failing to meet market expectations due to the lukewarm performance of its flagship
MarketOct. 8, 2024
-
Prosecutors raid home of Namyang Dairy's ex-chairperson over alleged embezzlement
Prosecutors on Monday raided the residence of Namyang Dairy Products Co.'s former chairperson and the company's headquarters as part of an ongoing investigation into embezzlement allegations. Investigators from the Seoul Central District Prosecutors Office raided more than 10 locations, including former Chairman Hong Won-sik's home. In August, the company filed a complaint against Hong and three other former company officials, accusing them of allegedly embezzling company funds of
Social AffairsOct. 7, 2024
-
Seoul shares rise over 1.5 % on US jobs data; won sharply down
Seoul stocks finished over 1.5 percent higher Monday, bolstered by US employment data, and modest gains in chip and battery shares. The local currency sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index moved up 1.58 percent, or 40.67 points, to 2,610.38. Trading volume was moderate at 336 million shares worth 10.2 trillion won ($7.57 billion), with gainers outpacing losers at 618 to 259. Institutions and foreign investors together bought a net 98 billion won, whi
MarketOct. 7, 2024
-
Diverse fitness offerings at Wellness Seoul 2024
Laughter and cheers from parents filled the air during the Balance Bike Race With Yamaha Motor, part of the inaugural Wellness Seoul 2024 held at Sebitseom Banpo along the Han River in southern Seoul on Sunday. The event, designed for children aged 3 to 5, allowed them to race on pedal-less bicycles, helping them develop balance and enjoy the thrill of riding on two wheels before transitioning to traditional bikes. On the other side, teenagers had the opportunity of minibike riding. Big smiles
IndustryOct. 7, 2024
-
Seoulites celebrate coexistence at Wellness Seoul 2024
In celebration of the health, mindfulness, and well-being of global citizens, Herald Media Group hosted Wellness Seoul 2024 on Sunday, a day-long festival held by the Han River in southern Seoul. Despite the cloudy weather, more than 10,000 participants filled the main venue and surrounding area all day long. Under the shared vision of "Creating A Life Of Wellness," the opening ceremony featured Seoul Mayor Oh Se-hoon, Olympic marathon gold medalist Lee Bong-ju, Daewoo E&C Chairman
IndustryOct. 7, 2024
-
LS Electric partners with Japan's Kyudenko to expand battery storage market
Korean electrical equipment manufacturer LS Electric announced a partnership with Kyudenko, a Kyushu Electric Power Company subsidiary, to enter Japan’s growing battery energy storage system market. The two companies signed a memorandum of understanding at the Grand InterContinental Seoul Parnas Hotel on Sunday, with LS Electric Chairman Koo Ja-Gyun and Kyudenko Vice President Masaaki Jono in attendance. Kyudenko, based in Fukuoka, is a major player in Japan’s electrical construction
IndustryOct. 7, 2024
-
Interactive booths highlight wellness, pet care
A diverse range of institutions -- from medical experts and ESG-focused companies to art students and pet care providers -- engaged visitors through interactive booths at Wellness Seoul 2024, offering a blend of health, creativity and eco-friendly initiatives aimed at inspiring a higher quality of life for all. Among the most popular booths was that of the Seoul Korean Medicine Association, a community of Korean medicine doctors based in Seoul. The doctors provided on-site consultations and offe
IndustryOct. 7, 2024
-
Samsung chief calls for active MLCC response in Philippines
Samsung Electronics Chairman Lee Jae-yong visited the production base of multilayer ceramic capacitors for Samsung Electro-Mechanics, the electronic parts manufacturing affiliate of Samsung Electronics, in Calamba, Philippines, Sunday, according to the tech giant on Monday. The chairman reviewed business strategies and stressed the importance of taking advantage of opportunities arising from expanding markets such as artificial intelligence, robots and electric vehicles. Lee also discussed futur
IndustryOct. 7, 2024
-
LG Energy Solution pledges to double sales by 2028
LG Energy Solution on Monday vowed to double its annual sales by 2028 based on expanding and diversifying battery businesses outside of electric vehicles while continuing to secure technological leadership in the EV battery sector. “We will not settle at producing and selling batteries anymore, but we will establish a paradigm of subscription economy for batteries based on our battery diagnosis and management technologies,” said Kim Dong-myung, CEO of LG Energy Solution, during the c
CompaniesOct. 7, 2024
-
Samsung Biologics to lure global clients at CPHI 2024
South Korea's leading contract development and manufacturing organization Samsung Biologics said Monday it will participate in Europe’s largest bio conference, the Convention on Pharmaceutical Ingredients Worldwide 2024. The CPHI, one of the biggest bio conferences, is held annually in major European markets. This year, it takes place in Milan from Tuesday to Thursday, with over 2,400 companies from 166 countries and 62,000 attendees expected to join. Samsung has been setting up its e
IndustryOct. 7, 2024
-
Regulator to begin probe into TikTok over potential violation of personal data law
South Korea's media regulator is set to look into TikTok over a potential violation of the nation's personal data protection law, an official at the regulator said Monday. TikTok is accused of automatically requiring its users to receive advertisements, instead of letting users give their consent to receive such content under the Korean law, according to industry sources. The Korea Communications Commission suspects that TikTok may be violating the Act on Promotion of Information and C
EconomyOct. 7, 2024