Most Popular
-
1
$200m a year, 700,000 tons of rice, space tech: The deal for North Korea in joining Russia’s war
-
2
Korean battery makers brace for impact of US election
-
3
Who is writer of Hybe's controversial internal report?
-
4
[AtoZ of Korean mind] Ever noticed some Koreans talk to themselves?
-
5
[Photo news] Rally against first couple
-
6
Scandal-hit ex-lawmaker denies corruption claims as pressure on Yoon mounts
-
7
Will South Korea go back to banning phones in classrooms?
-
8
[From the Scene] Gumi, home to Nongshim’s largest factory, rebrands itself as ‘city of ramyeon'
-
9
Gangnam Station ramming suspect to face detention
-
10
Stray Kids' US album sales surpass 1M
-
Korean luxury e-boutique Jente launches global service
South Korean luxury e-boutique Jente has launched a global service to spur its business expansion overseas. The company said Monday the website is now available for shoppers in North America, Asia and Europe, with plans for expansion in the Middle East by 2025. Established in 2020, Jente has gained traction in the nation’s competitive luxury market by directly sourcing luxury goods from boutiques, ensuring authenticity and exclusivity. In 2022, its sales reached 48.8 billion won ($35.6 mil
TechnologyNov. 4, 2024
-
SK On reports first-ever profit in Q3
SK On, SK Innovation’s battery subsidiary, reported its first-ever quarterly profits in the third quarter of this year after years of operating losses since its spinoff in 2021. During its earnings conference call on Monday, the battery maker reported an operating profit of 2.4 billion won ($1.8 million) in the July-September period, a significant turnaround from last year’s 86.1 billion won deficit, largely driven by inventory clearance and enhanced cost structure. Its sales fell
MobilityNov. 4, 2024
-
‘Free delivery’ promotions under antitrust scrutiny
South Korea’s antitrust regulator has opened an investigation into “free delivery” promotions widely used by food ordering and delivery platforms here, according to industry sources on Monday. The Fair Trade Commission will look into whether delivery services have been offered actually free of charge without the costs being shouldered by restaurant owners or consumers. Earlier in the day, Rep. Yoon Hang-hong of the ruling People Power Party revealed documents that Baedal Minjok
IndustryNov. 4, 2024
-
Hyosung hits W1tr in power equipment orders in Europe
Hyosung Heavy Industries said Monday it has signed a contract with Denmark's leading offshore wind company, Orsted, to supply high-voltage electrical equipment, further strengthening its presence in the European transformer market. Under this agreement, Hyosung will deliver 400 kilovolts of high-voltage transformers and reactors to Orsted by 2027, which will be used for the Hornsea 4 project, an offshore wind farm planned for 2.4-gigawatt capacity off the coast of Yorkshire in northern Engl
CompaniesNov. 4, 2024
-
SK Eternix secures W461b funding for fuel cell projects
South Korean energy company SK Eternix announced Monday that it has partnered with Charmvit Group and KDB Infrastructure Asset Management to fund high-efficiency solid oxide fuel cell power plant projects. Late last month, SK Eternix signed an agreement with multiple financial investors to secure 461 billion won ($336.1 million), marking the largest investment to date in Korea's fuel cell sector. The company anticipates this partnership will cover 85 percent of the total investment cost of
IndustryNov. 4, 2024
-
SPC shares business know-how with Mongolian delegation
South Korean bakery giant SPC Group said Monday that it has shared its overseas business know-how and advanced baking techniques with a delegation of Mongolian government and business officials during their stay in Seoul. The delegation of some 10 people visited SPC’s premium bakery cafe, Passion5, in Itaewon, central Seoul, on Friday, during which they were given an in-depth overview of SPC’s overseas strategy and expansion plans. The company said it shared essential strategies it a
CompaniesNov. 4, 2024
-
[From the Scene] A rare glimpse into Mercedes' data-driven battery assembly
HEDELFINGEN, Germany -- At Mercedes-Benz’s battery production facility in Hedelfingen, Stuttgart, a group of Korean reporters was recently given a close-up look at how the automaker assembles the battery packs that power its flagship electric vehicles, the EQS and EQE. The visit offered a rare glimpse into the detailed, highly automated process that Mercedes-Benz takes on to ensure the reliability of its EV batteries. “Every little part is recorded and can be kept for up to 30 years
MobilityNov. 4, 2024
-
Celltrion expands European reach with anti-imflammatory drug
Celltrion has launched Steqeyma, a biosimilar of Stelara (ustekinumab) for autoimmune disease treatment, across Europe, broadening its product portfolio to further strengthen its position in the European biopharmaceutical market. On Friday, Celltrion introduced Steqeyma in Germany, one of Europe’s top five pharmaceutical markets, and in the Netherlands. To expedite the product launch, Celltrion’s German subsidiary completed essential preliminary steps, including drug price listing an
IndustryNov. 4, 2024
-
Seoul shares open higher on US gains
South Korean stocks kicked off slightly higher Monday tracking tech gains on Wall Street, while investors were paying close attention to the US presidential election and the Federal Reserve's rate decision to take place later this week. The benchmark Korea Composite Stock Price Index rose 8.6 points, or 0.34 percent, to 2,550.96 in the first 15 minutes of trading. On Friday, Wall Street finished higher, with the Dow Jones Industrial Average up 0.69 percent, the tech-heavy Nasdaq composite u
MarketNov. 4, 2024
-
ShinWon launches R&D center in New York
South Korean fashion company ShinWon announced Sunday that it has launched an R&D Design Center in New York, to strengthen its presence in global markets. Currently, ShinWon operates seven manufacturing subsidiaries in Guatemala, Nicaragua, Vietnam and Indonesia, all known for their expertise in knit and sweater production. With these production capabilities, the company has maintained long-term collaborations with top global brands like Patagonia, Columbia, GAP, Target and Walmart. &ldquo
IndustryNov. 3, 2024
-
[From the Scene] Gumi, home to Nongshim’s largest factory, rebrands itself as ‘city of ramyeon'
GUMI, North Gyeongsang Province -- In front of the modest Gumi Station building on Friday, the streets bustled with crowds enjoying ramyeon, despite the rainy weather. Claiming to be "the longest ramyeon restaurant in the world," the 475-meter long strip occupied by the event zone featured 24 booths offering an array of ramyeon-based dishes prepared by chefs from local establishments, including snack bars, bistros, and food trucks. In a seating area accommodating up to 960 people, visi
IndustryNov. 3, 2024
-
Korean startups seek global talent through D.Camp’s new internship initiative
D.Camp, one of South Korea’s largest startup incubators, held a networking event on Friday to connect international students with internship positions at local startups. The event, hosted at D.Camp’s Front1 facility in Seoul’s Mapo-gu district, brought together representatives from 13 startups and dozens of international students who had applied to these companies in hopes of securing an internship over the winter break. The event is part of a new initiative launched by D.Camp
CompaniesNov. 3, 2024
-
Korean battery makers brace for impact of US election
With the US presidential election just around the corner, Korean battery companies are bracing for change as the result could have significant effects on the industry, particularly if Republican candidate Donald Trump wins. Korea’s leading battery producers -- LG Energy Solution, Samsung SDI and SK On -- have depended on the Advanced Manufacturing Production Credit under the Biden administration’s Inflation Reduction Act for operating profits. According to the quarterly earnings repo
IndustryNov. 3, 2024
-
Hana opens 100th child care center
Hana Financial Group said Sunday that it has launched the 100th child care center in Bonghwa-gun, North Gyeongsang Province, as part of its 150 billion won ($108.6 billion) project aiming at addressing the nation’s chronically low birth rate. The Korean financial giant launched the project in 2018, with the aim of establishing a total of 100 child care centers nationwide in collaboration with provincial governments. "I am very pleased with this achievement after six years of efforts t
IndustryNov. 3, 2024
-
Hyosung vice chairman takes helm of 2025 APEC business council
HS Hyosung Vice Chairman Cho Hyun-sang has officially begun his role as the member and incoming chair of the APEC Business Advisory Council (ABAC) for 2025, Hyosung Group announced on Friday. Appointed the ABAC chair in August this year, Cho recently met with Foreign Minister Cho Tae-yul and Second Vice Foreign Minister Kang In-sun. On Thursday, he also met with Trade Minister Jeong In-kyo to discuss the ABAC's role and vision for next year’s APEC meeting, which will primarily take pl
IndustryNov. 3, 2024
-
[Photo News] AI-driven growth
SK Group Chairman Chey Tae-won delivers his closing remarks during the 2024 CEO Seminar held at SKMS Research Institute in Icheon, Gyeonggi Province, on Saturday. Some 30 top executives across SK companies participated in the three-day annual event. The SK chief stressed to spur growth centering on artificial intelligence amid the ongoing efforts for portfolio rebalancing and operational improvements. (SK Group)
IndustryNov. 3, 2024
-
[Herald Interview] Lufthansa bets big on Korea’s growing cultural influence in Europe
Celebrating 40 years of direct flights between Korea and Germany, Lufthansa Group is intensifying its focus on Korea with tech-driven travel solutions and sustainability efforts. Earlier this year, the group launched direct services from Seoul to Zurich with SWISS and is continuing to explore opportunities to increase capacity in the Korean market. In a recent interview with The Korea Herald, Leandro Tonidandel, Lufthansa Group’s general manager for Korea, shared insights into how Korea&
IndustryNov. 3, 2024