Most Popular
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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More med professors to take day off each week while govt. urges them to stay
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South Korea to launch space security center under spy agency
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Kumho Tire inks technology deal with Saudi's Blatco
South Korea's Kumho Tire announced Monday a technology licensing agreement with Blatco, a tire company based in Saudi Arabia, the largest automobile consumer and import country in the Middle East. Under the deal, Kumho will provide its tire production technology to Blatco for the next two decades, focusing on tires for passenger vehicles. In alignment with Saudi Arabia's Vision 2030, Blatco is set to expand its factory in Saudi Arabia's western industrial complex to 281,000 square
March 4, 2024
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Hana Bank upgrades digital certificates for foreign users
Hana Bank, a leading commercial bank in South Korea, unveiled Monday the latest upgrade to its tailored banking app for foreign exchanges, Hana EZ, with a focus on delivering an enriched and user-friendly mobile banking experience for foreign residents in the country. A key improvement lies in the integration of translation services during the registration stages of a lender’s digital certificate, called the Hana Certificate, which is now available in 16 different languages. This feature s
March 4, 2024
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Tequila may be next big thing in Korean liquor market
South Korea's alcoholic beverage industry has been embracing quickly changing trend cycles -- from wine to whiskey cocktails and cognac -- with rising demand from young consumers to try new types of drinks. The next type of alcohol that is expected to boom here is tequila, according to industry sources. According to Samjeong KPMG’s report, South Korea’s wine consumption decreased significantly last year. The value of wine imports dropped 9.6 percent from $560 million in 2021 to
March 3, 2024
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Finance giants boost female board numbers amid government initiative
Major Korean financial groups are intensifying efforts to broaden and diversify their boards in response to a governmental drive for inclusivity within the sector. Woori Financial Group is appointing two new female members to its outside board of directors for the first time in its history. Lee Eun-ju, a media expert from Seoul National University, and Park Sun-young, an economics professor from Dongguk University, will replace the company's first and only female outside director, Song Soo-
March 3, 2024
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[KH Explains] Korea’s next-generation space rocket project off to bumpy start
Korea’s 2 trillion won ($1.5 billion) next-generation space launch vehicle project got off to a bumpy start, as the bidding process to select a private entity to lead the large-scale task is likely to be a one-man show. Officially named the Korea Space Launch Vehicle-III, the goal of the next-generation rocket project is to assemble a launch vehicle capable of sending a lunar lander to the moon in 2032. The improved rocket will have a mission capacity some three times stronger than the hom
March 3, 2024
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Hana Financial Group targets baby boomers with Lim Young-woong
In just nine days of its release, a 16-second video featuring trot singer Lim Young-woong posted on YouTube by Hana Bank has garnered over 6.8 million views as of Sunday. The video introduces the 32-year-old singer as the new face of Hana Financial Group, one of Korea's top five financial conglomerates. The YouTube channel of the group's banking subsidiary Hana Bank has also seen a substantial increase in subscribers, jumping from 188,000 to 218,000 within the same period. Hana's
March 3, 2024
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Korean crypto exchanges ride on bitcoin rally
Local crypto exchanges are enjoying a boom in their returns amid the snowballing bitcoin rally. Upbit, the largest crypto exchange here, saw its transaction volume in the past 24 hours surpass 12 trillion won ($8.9 billion) as of Thursday at 3 p.m. It was the first time for the figure to go over 10 trillion won since 2021. As of Friday 2:15 p.m., its transaction volume in the past 24 hours stood at 9.96 trillion won. The volume is similar in size to the average daily transaction volume for Kospi
March 1, 2024
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Korean stocks benefit from Zuckerberg's Seoul visit
Following the high-profile visit of Meta CEO Mark Zuckerberg this week, stocks related to advanced technologies including artificial intelligence, augmented reality and display panels are gaining attention. In a report on Friday, Korea Investment and Securities suggested eight stocks, including Samsung Electronics and LG Electronics, that would benefit from Zuckerberg's visit to Seoul. Traveling to Korea for the first time in about a decade, Zuckerberg met with President Yoon Suk Yeol and b
March 1, 2024
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Will Samsung introduce Galaxy AI to budget phones?
As Samsung Electronics is expected to roll out its new Galaxy A series this month, anticipation is growing on whether the mid-range smartphone models will feature the tech giant’s latest artificial intelligence features. According to industry sources on Friday, the leading smartphone maker is expected to roll out the Galaxy A35 and A55 smartphones that support 5G connection. Amid growing attention, tipsters are even predicting the launch date as March 11. SamMobile, a leading source for Sa
March 1, 2024
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SK chief to lead KCCI for 2nd term
SK Group Chair Chey Tae-won is set to serve as chairperson of the country’s business organization Korea Chamber of Commerce and Industry for another term. On Thursday, members of the Seoul Chamber of Commerce and Industry unanimously agreed to tap Chey as chair of the regional chamber under the KCCI for a three-year term that ends in February 2027 during a general meeting of members held in Seoul. With Seoul members’ backing, Chey, whose first term expires in March, is on the course
March 1, 2024
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SK Ecoplant, China's CSCEC to carry out W2.6tr hydrogen project in Egypt
Korean energy and environmental solutions provider SK Ecoplant said Thursday that the company will work together with the China State Construction Engineering Corp. on a 2.6 trillion won ($1.9 billion) green hydrogen project in Egypt. SK Ecoplant, CSCEC and the Egyptian government signed a memorandum of understanding in Cairo on Wednesday, the company added. Under the project, SK Ecoplant and China’s largest construction company will establish solar panels and wind turbines in Egypt, which
Feb. 29, 2024
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[KH Explains] What does Apple's dead car project mean for Samsung, Hyundai?
Earlier this week, Apple announced that it will ditch its decade-long car project, saying more resources will be poured into artificial intelligence in the future. An Apple-made car had long been a buzzword across industries. Carmakers had braced for a direct threat, while tech rivals had started working on their own car projects. But Tuesday’s surprise announcement was a reality check moment not just for the iPhone maker but also for the whole tech industry: Making a car proved too diffic
Feb. 29, 2024
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Ramyeon exports soar to record high in January
Shortly after achieving record-breaking ramyeon export sales last year, Korean instant noodle exports surged significantly by 39.4 percent again in January compared to the same month last year, reaching a total of $86 million. According to the Korea Customs Service on Thursday, January's performance marks the fifth-largest figure ever, with the highest monthly total to date reaching $91 million, achieved last November. In 2023, ramyeon exports reached a total of $952 million, increasing a d
Feb. 29, 2024
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Starbucks Korea donates W100m to mark March 1st Movement Day
Starbucks Korea said Thursday it has donated 100 million won ($76,150) to the National Trust for Cultural Heritage in commemoration of the 105th anniversary of the March 1 Independence Movement Day. During the donation ceremony at Deoksugung Palace on Wednesday, the coffee chain demonstrated its dedication to preserving cultural legacy and enhancing corporate social responsibility. In anticipation of the forthcoming Liberation Day on Aug. 15, Starbucks Korea has pledged to donate an additional c
Feb. 29, 2024
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Hyundai's Hillstate Dongtan Forest offers unique opportunities
Hyundai Engineering & Construction, South Korea's construction giant, announced on Thursday its search for additional tenants at Hillstate Dongtan Forest, a public-supported private rental apartment complex in Dongtan, Gyeonggi Province. The complex, featuring eight 20-level buildings and offering a total of 585 units, provides a diverse array of living spaces. Comprising 198 units with 84 square meters and 387 units with a more spacious 101 square meters, it caters to various accommoda
Feb. 29, 2024
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Kakao Pay vice president appointed head of securities unit
Shin Ho-cheol, vice president of Kakao Pay, was appointed as new chief executive officer of the stock brokerage arm, Kakao Pay Securities said Wednesday. The appointment was approved during the board of directors meeting on the same day. Pending approval at the group's regular general meeting of shareholders scheduled for March 27, Shin is set to officially assume leadership. “Given the significant responsibility of this position, I will spare no effort in expanding our growth and con
Feb. 28, 2024
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Daewoong names Nabota chief as new co-CEO
Daewoong Pharmaceutical, South Korea’s leading pharmaceutical company, is expected to appoint Vice President Park Seong-soo as its new co-CEO during its annual shareholders meeting in March, according to industry sources Wednesday. “Daewoong aims to accelerate the expansion of its overseas businesses with Park's appointment,” a source familiar with the internal matter said on condition of anonymity. Park has held diverse positions, handling global issues since he became th
Feb. 28, 2024
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Celltrion begins shipment of Remsima SC for US debut
Biopharmaceutical giant Celltrion announced Wednesday that the first batch of its new autoimmune disease treatment Zymfentra, also known as Remsima SC, has been shipped for its planned debut in the US next month. Zymfentra is the first and only subcutaneous injection version of Remsima, Celltrion’s infliximab biosimilar, to have been approved by the US Food and Drug Agency. The company said its more patient-friendly administration compared to the current intravenous injection version is ex
Feb. 28, 2024
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US Navy secretary scouts Korean shipbuilders for fleet support
US Secretary of the Navy Carlos Del Toro toured the shipyards of HD Hyundai Heavy Industries and Hanwha Ocean on Tuesday to explore their military shipbuilding capabilities for handling comprehensive support services for the US Navy fleet, as part of US defense needs to bolster its naval presence in Asia. Del Toro's visit to Korea comes as the US contemplates outsourcing naval ship maintenance, repair, and overhauls, or MRO, to alleviate domestic capacity constraints. These services keep na
Feb. 28, 2024
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Coupang reports first profitable year
New York-listed e-commerce giant Coupang on Wednesday reported its first-ever annual operating profit of $473 million last year, marking a milestone since its inception in 2010. It also reported $24.4 billion in sales, a notable 20 percent jump from 2022. In the fourth quarter alone, its quarterly sales soared 20 percent to a record $6.6 billion, while its operating profit saw 51 percent on-year growth to $130 million. "Since the beginning of this company, we have made foundational bets on
Feb. 28, 2024