Most Popular
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‘Drag lawmakers out’: Yoon’s chilling order to commander
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NewJeans manager files workplace harassment complaint against Ador CEO Kim Ju-young
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Yoon refuses to resign, defends martial law against 'monstrous' opposition
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Speak or not to speak? K-pop stars face dilemma amid national crisis
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Joint investigation team on Yoon launched
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Prosecutors tighten grip on Kim
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Will ruling party lawmakers change course?
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[Newsmaker] Ex-intel commander appears key to alleged martial law plan
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Assembly passes reduced budget plan, special counsel
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Signs surface that martial law plotted well in advance
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HD Hyundai to step up cooperation with SIMA Peru
HD Hyundai Heavy Industries announced Monday that it signed a memorandum of understanding with state-operated shipyard SIMA Peru in Lima, Peru, last week to jointly develop submarines as part of the Peruvian Navy’s vessel replacement project. Through the partnership, HD Hyundai and SIMA will make joint efforts to win contracts and develop submarines tailored to Peru’s Navy. HD Hyundai also plans to strengthen its partnership with the Peruvian government and navy, supporting the local
IndustryNov. 18, 2024
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Naver, Saudi’s National Housing Co. to set up JV
Korean internet giant Naver said Monday that it has agreed to establish a joint venture with Saudi Arabia’s state-owned real estate development and investment company to operate and commercialize digital twin platforms in the 17th largest economy in the world. Naver and National Housing Company signed the deal on the first day of Cityscape Global 2024 held in Riyadh, Saudi Arabia, on Nov. 11. The joint venture, under the umbrella of Naver Arabia, will serve as Naver’s first busines
IndustryNov. 18, 2024
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Trade minister calls for minimizing business uncertainties amid 2nd Trump administration
Trade Minister Cheong In-kyo emphasized on Monday that all efforts should be focused on thoroughly preparing to minimize uncertainties for businesses as former US President Donald Trump is set to take office for his second term. Cheong made the remarks during a meeting with ministry officials, as Trump, who is set to return to the White House in January next year, has pledged to implement significant policy changes, including higher tariffs on imported goods. The ministry has held a series of me
EconomyNov. 18, 2024
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Financial authorities say recent stock market plunge excessive, vow implementation of value-up funds
South Korean financial authorities said Monday the recent stock market plunge was excessive, given economic fundamentals, vowing to enhance market monitoring and swiftly implement a policy fund to strengthen valuation of local companies. The message was released during an interagency meeting among chiefs of the Financial Services Commission, Financial Supervisory Service and the Korea Exchange, as well as market experts and relevant institutions, in Seoul, in response to steep losses incurred in
EconomyNov. 18, 2024
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Seoul shares open higher on large-cap gains
South Korean stocks got off to a strong start Monday, led by gains from large-cap shares. The benchmark Korea Composite Stock Price Index added 36.08 points, or 1.49 percent, to 2,452.94 in the first 15 minutes of trading. Market bellwether Samsung Electronics soared 5.79 percent, and leading battery maker LG Energy Solution increased 2.43 percent. Top automaker Hyundai Motor rose 3.4 percent, and its sister affiliate Kia jumped 2.84 percent. Energy shares were the biggest winners as KEPCO climb
MarketNov. 18, 2024
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[Photo News] Hyundai’s Avante N TCR
Hyundai Motor on Sunday presented a racing car version of its high-performance sedan, the Avante N, based on its years of experience with the Touring Car Racing World Tour. The Avante N TCR has upgraded auto parts, including a carbon swan-neck spoiler with adjustable angles and 19-inch forged wheels, which are maintain high strength at a likght weight. It also features blue – the symbolic color of the N brand – in the steering wheel and first-row seat belts. Slated for debut in Kor
MobilityNov. 17, 2024
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[KH Explains] Why Korean bank shares got bump from Trump's 2nd term
Shares of local banks are putting up a fight in the bearish Korean stock market, as investors are pricing in expectations that lenders could excel in the second Donald Trump administration under softened regulation and higher interest rates. The KRX Banks index, representing shares of top financial service providers such as KB, Shinhan, Woori and Hana, closed at 913.69 on Nov. 7, up 2.33 percent on-day, after Trump secured his victory in the US presidential election. It was the highest-gaining i
EconomyNov. 17, 2024
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Hana Financial chief vows to boost corporate value in Hong Kong
Hana Financial Group's chief pitched the banking group's strategies to elevate its corporate value to overseas investors at an investor relations event in Hong Kong. Along with the chiefs of other top financial service providers in the country, Hana Financial Chairman Ham Young-joo attended the “Invest K-Finance” event, hosted by South Korea's Financial Supervisory Service. At the event, Ham introduced the group’s plan to boost corporate and shareholder value, ac
IndustryNov. 17, 2024
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[Herald Interview] There’s no wrong way to enjoy bourbon: Jefferson's founder
Jefferson’s Bourbon Founder and Chief Strategist Trey Zoeller explores experimenting in Korea by pairing its bourbon with local culinary practices and pursuing partnerships with cultural industries as his brand establishes its foothold here. Ahead of the first anniversary of Kentucky-born Jefferson's Bourbon’s debut in Korea, Zoeller visited Seoul for the first time to introduce and share the allure of the brand to a growing number of bourbon enthusiasts in the country. He said
IndustryNov. 17, 2024
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LG Chem promotes fair trade practices
LG Chem is ramping up efforts to strengthen ties with partner companies through a series of new initiatives to promote sustainable development across its supply chain, the firm said Sunday. The South Korean chemicals giant outlined five key strategies under its “Shared Growth Solutions” framework: promoting fair trade, providing financial support, advancing environmental, social and governance practices, enhancing partner capabilities and improving communication. As part of the plan,
CompaniesNov. 17, 2024
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Kia scales back on EV9 in US amid tightened IRA rules
Hyundai Motor Group affiliate Kia is reportedly scaling back US production of its ambitious EV9, a large all-electric sport utility vehicle, due to stricter Inflation Reduction Act regulations. According to industry sources Sunday, Hyundai Motor Group’s manufacturing facility in Georgia, which began operation last month, produced 21 EV9s in the third quarter and only one was sold in the US. Given that the EV9’s monthly sales volume is approximately 1,800 units, the US production cons
MobilityNov. 17, 2024
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Daewoo E&C makes strides in Central Asia, global urban development
Daewoo E&C is making significant strides in its global expansion efforts, securing major projects across Central and Southeast Asia under the leadership of Chairman Jung Won-ju, the company announced Friday. Celebrating its 51st anniversary this year, Daewoo E&C has reaffirmed its vision of evolving into a company moving into the next century by tapping broader overseas markets and addressing challenges in the sluggish domestic construction industry. A prime example is the Turkmenistan M
IndustryNov. 17, 2024
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Foreign ownership of S. Korean stocks at yearly low: data
Foreign ownership of South Korean shares fell to the lowest level of this year following Donald Trump's presidential reelection, data showed Sunday. Foreign holdings of Korean stocks on the main bourse Kospi accounted for 32.3 percent, or 637.48 trillion won ($456 billion), of the market capitalization worth 1,973.51 trillion won as of Friday, according to the data compiled by the Korea Exchange. Foreign investors held 32.7 percent of Kospi-listed stocks early this year, but the ratio conti
MarketNov. 17, 2024
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KEPCO wins 2 new renewable energy deals in Saudi, Guam
The state-run Korea Electric Power Corp. (KEPCO) said Friday it has secured new renewable energy deals in Saudi Arabia and Guam, expected to lead to over 1 trillion won (US$717.1 million) in sales over the next 25 years. A consortium of KEPCO and Masdar, an energy firm from the United Arab Emirates, won a bid for a project led by the Saudi Power Procurement Company, under the Middle Eastern country's national renewable energy program. The project expected to cost 1.5 trillion won is aimed a
EconomyNov. 15, 2024
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Samsung Electronics to buy back 10 tln won in shares to enhance shareholder value
Samsung Electronics Co. said Friday it will buy back its own shares worth a combined 10 trillion won (US$7.16 billion) over the next year as part of efforts to boost its shareholder value following a recent slide in its stock price. In the buyback plan approved by the board of directors, a combined 3 trillion won of shares will be bought back within three months starting Monday and continuing until Feb. 17, the company said in a statement. For the remaining 7 trillion won, the company will decid
MarketNov. 15, 2024
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Hanjin eyes bigger footing in the US fulfillment services market
Hanjin Logistics, an affiliate of South Korean airline-to-logistics conglomerate Hanjin Group, is ramping up efforts to improve its fulfillment services and attract more corporate customers seeking to enter the US market. Earlier this month, CEO Noh Sam-seok and Emily Cho, president and chief marketing officer, traveled to the US for meetings at the company's local headquarters as they plan to expand the logistics firm's fulfillment business on the US east coast, according to the compa
IndustryNov. 15, 2024
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ZYX Technology inks partnership with Chonnam University to nurture tech talent
South Korean design software developer Zyx Technology announced Friday that it has signed a memorandum of understanding with Chonnam National University, aiming to foster tech talent and strengthen collaboration. Under the agreement, the company said it will provide academic support, including free access to cutting-edge design software and opportunities for joint research and development of artificial intelligence software. As a member of the Innobiz Association, Zyx Technology has developed a
IndustryNov. 15, 2024
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Samsung, LG clean up at CES 2025 Innovation Awards
Korean tech giants Samsung Electronics and LG Electronics were recognized with a slew of prizes at the CES 2025 Innovation Awards for their newest products, ahead of the world’s largest tech trade show set to be held in Las Vegas in January. In this year’s program, Samsung won 29 awards, including four best of innovation products, while LG received 24 awards with three top innovation winners. The Consumer Technology Association organizes the annual competition honoring outstanding de
IndustryNov. 15, 2024
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Seoul shares end nearly flat amid bargain hunting
Seoul shares closed nearly flat Friday as investors' bargain hunting limited declines amid lingering uncertainties, including a possible slowdown in US rate cuts. The local currency gained against the US dollar, trading at the 1,300 won level as of 3:30 p.m. for the first time in four days. The benchmark Korea Composite Stock Price Index edged down 2 points, or 0.08 percent, to close at 2,416.86. The main index briefly fell below the psychologically significant 2,400 level at one point. Tra
MarketNov. 15, 2024
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Hyundai Motor appoints 1st foreign CEO
Hyundai Motor Group appointed Jose Munoz, global chief operating officer at Hyundai Motor Co., as the next CEO of the auto brand on Friday, marking the conglomerate’s first-ever appointment of a foreign leader. The appointment is to take effect on Jan. 1. Munoz, a native of Spain and a US citizen, joined the Korean automaker in 2019 and has served as president and global COO of Hyundai Motor Co. as well as president of Hyundai and Genesis Motor North America. “Through strengthening d
CompaniesNov. 15, 2024