Most Popular
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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Contentious grain bill put directly to plenary meeting for vote
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Why is Apple Pay struggling to get purchase in Korea?
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Today’s K-pop] BTS pop-up event to come to Seoul
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[Graphic News] More Koreans say they plan long-distance trips this year
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Yoon's approval rating plunges to all-time low
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Fed: Elevated inflation will likely delay rate cuts this year
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Korean users spend less time on Twitter taken over by Musk
South Korean users spent less time on Twitter compared to the month before billionaire Elon Musk took over the social media platform in a drama-plagued $44 billion deal, industry data showed Monday. According to local data tracker Mobile Index, the average time a local user spent on Twitter was 43.94 minutes for the four weeks of Oct. 28 to Nov. 24, down from 45.9 minutes marked a month prior to the highly publicized purchase. The number of daily active users on the platform in that period, howe
Nov. 28, 2022
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LG taps two female CEOs in unprecedented move
South Korea's fourth-largest conglomerate LG has tapped two female CEOs in its groupwide year-end reshuffle that ended Thursday. Consumer goods arm LG H&H named Executive Vice President Lee Jung-ae as the new chief executive officer, replacing Cha Suk-yong after nearly 18 years of service. Lee is one of two female CEOs to have been nominated for the first time in LG's history. Since joining LG H&H in 1986, the 59-year-old Lee has been dedicated to consumer goods marketing, and
Nov. 24, 2022
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[Newsmaker] Long-awaited insurance bill reignites debate on Samsung’s ownership structure
The long-awaited bill to revise the Insurance Business Act is reigniting debate over Samsung’s ownership structure, under which its insurance arm is the largest shareholder of Samsung Electronics. The National Assembly on Tuesday for the first time put forward the revision bills in the parliament's National Policy Committee. The bills, proposed in June 2020 respectively by main opposition Democratic Party lawmakers such as Rep. Park Yong-jin and Rep. Lee Yong-woo, were the first bills to b
Nov. 24, 2022
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Will Korea host Tesla 'gigafactory'?
Business tycoon Elon Musk's confirmation that South Korea is among the top candidates for Tesla's second electric vehicle production plant in Asia highlights the robust automotive parts ecosystem in Korea for cutting-edge autonomous driving technology, as well as the brand's popularity here. All eyes are on whether the fourth-largest economy in Asia could outdo other regional candidates such as Japan and Indonesia, which have richer EV consumer bases than Korea. On Wednesday, President Yoon Suk-
Nov. 23, 2022
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[Photo News] Robots at hospital
An LG CLOi Servebot, a delivery robot developed by LG Electronics, delivers medicine at a hospital in Yongin, Gyeonggi province. The company said Tuesday it supplied seven CLOi robots to aid medical staff by carrying out tasks such as delivering medications and medical equipment, guiding visitors and making late-night security rounds.
Nov. 22, 2022
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LG Chem to build $3.2b battery material plant in US
South Korean battery material supplier LG Chem announced Tuesday plans to build a $3.2 billion facility to manufacture 120,000 metric tons of cathode materials used for electric vehicle batteries annually in Tennessee, the United States. Once construction of the facility on the 1.7-square-kilometer land is completed by 2027, the plant will be able to power batteries mounted on 1.2 million pure electric vehicles that can run 500 kilometers on a single charge. Construction is set to start in the
Nov. 22, 2022
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SK hynix reaches settlement in chip cluster dispute
South Korean memory chip manufacturer SK hynix has reached a compromise with Yeoju city over a dispute surrounding the chipmaker's right to use freshwater for new fabrication plants in Yongin, Gyeonggi Province, the government announced Monday. The settlement, with a memorandum of understanding signed on Monday at the National Assembly, opens the doors for SK hynix to proceed the chip cluster project as planned by 2027 on the 4.15 square-kilometer site, which would cost at least 120 trillion won
Nov. 21, 2022
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[Photo News] Metaverse cooperation
Ryu Young-sang (left), chief executive officer of South Korean mobile carrier SK Telecom, poses for a photo with NTT Docomo CEO Motoyuki Ii at a signing ceremony on Friday in Seoul. SK Telecom announced Monday it has signed a memorandum of understanding with its Japanese counterpart to seek a strategic partnership in the fields of the metaverse, sixth-generation telecommunication infrastructure and media content development.
Nov. 21, 2022
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Nexon becomes largest shareholder of 'Avengers' directors' production firm
South Korean game developer Nexon said Monday it has become the largest shareholder of US production company Agbo, co-founded by Anthony and Joe Russo, the directors of Marvel’s global megahits. After initially investing $400 million to acquire 38 percent of Agbo’s shares in January, Tokyo-listed Nexon recently invested an additional $100 million to acquire 11.21 percent. The latest acquisition made the game developer the No. 1 shareholder of the US firm, with 49.21 percent of its sh
Nov. 21, 2022
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[Herald Interview] ‘You can start making changes for gamers with disabilities tomorrow’
BUSAN -- Korean game developers should begin creating accessibility for people with disabilities as it can be easily done with some of the existing guidelines, says a longtime activist who has led the US movement for gamers with disabilities. “You can start making real change tomorrow with the resources out there,” said Mark Barlet, founder and executive director of the AbleGamers Charity, in an interview with The Korea Herald at South Korea’s game exhibition, G-Star, in Busan
Nov. 20, 2022
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[Herald Interview] Why Korea is set up for success in console games
BUSAN -- South Korea is poised to succeed in the global console game market despite having a relatively shorter resume in that particular area of gaming, according to an expert specialized in creating successful console games. “Many years ago, I first found out how excited Korean players were for video games when StarCraft became a global sensation. It was very fascinating to see that Korea was so excited about that,” said Steve Papoutsis, chief development officer at Striking Distan
Nov. 20, 2022
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Neowiz looks to lead Korea's console game industry with awards-winning Lies of P
BUSAN -- Game developer Neowiz is hoping to take the lead and set an exemplary case for Korean console games on the global stage with its awards-winning title Lies of P. “(For Lies of P) we really received good feedback at Gamescom including good graphics, high level of completion, no bugs, smooth play and great optimization of the frame,” said Choi Ji-won, the chief producing director of Lies of P in a press conference held Thursday on the sidelines of G-Star, South Korea’s bi
Nov. 20, 2022
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Samsung tops global brand ranking, outpacing Google, YouTube
South Korean tech giant Samsung Electronics was ranked the highest in United Kingdom-based market research firm YouGov's annual Global Best Brand Rankings in 2022, data showed Sunday. Of 380 brands in 38 markets including the United States, the UK, China, India and South Korea, Samsung scored 127 points overall to take the top notch, followed by Google's 106 points, YouTube's 85 points, Netflix's 59 points and Shopee's 51 points. The score was based on YouGov's esti
Nov. 20, 2022
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[Weekender] Revived G-Star back with bang
BUSAN -- For Ji Young-hoon, a 22-year-old South Korean who had just finished his mandatory military service duty in September, this year’s G-Star -- the country’s largest annual gaming exhibition felt like seeing an old friend after a long time. “I was here three years ago right after I took Suneung (Korea’s national college entrance exam). I have been looking forward to this year’s G-Star because the last two years’ events were not enjoyable,” Ji told T
Nov. 19, 2022
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Science Ministry suggests tax cuts to support content biz
The Ministry of Science on Friday suggested a slew of ideas such as tax reductions for over-the-top, or streaming, content producers to expand the South Korean content business and boost its global competitiveness. The government said the support will foster high-quality, exclusive content production on domestic platforms as well as emerging media businesses involving the metaverse and content creators. "We will turn the nation's content industry into an engine for the country's g
Nov. 18, 2022
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Microsoft CEO discusses cooperation with SK, NCSoft chiefs
Microsoft CEO Satya Nadella on Tuesday met with chiefs of SK Group, South Korea’s second-largest conglomerate, and NCSoft, the country’s game giant, to discuss future cooperation. According to industry sources familiar with the matter, Nadella sat down with SK Group Chairman Chey Tae-won, SK Square CEO Park Jung-ho and NCSoft CEO Kim Taek-jin in Seoul. The Microsoft chief’s meeting with SK leaders was a sign of the continued partnership between the two sides. In 2019, Park, who
Nov. 15, 2022
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Smilegate founder’s divorce could affect ownership
Kwon Hyuck-bin, founder of South Korea’s gaming giant Smilegate and the nation's fifth richest person in terms of asset value, is going through an expensive divorce, according to legal sources Tuesday. Kwon’s wife was recently ruled in favor of her claim banning her husband from selling company shares until the divorce is finalized. Kwon controls 100 percent shares of Smilegate that is best known for its popular shooting game “Crossfire.” If the court orders Kwon t
Nov. 15, 2022
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ASML to strengthen foothold in Korea: CEO
ASML, the world-leading Dutch equipment supplier for semiconductor manufacturers, will expand its foothold in South Korea with the planned construction of new facilities and add more capacity with the global chip industry’s growth forecast, the company’s CEO Peter Wennink said Tuesday. Acknowledging that the global chip industry may struggle in the short term due to worldwide inflation and geopolitical issues, Wennink underlined that more semiconductors are going to be needed to mee
Nov. 15, 2022
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Korean researchers develop portable virus killer
South Korean researchers have developed a portable virus killer that uses ultraviolet rays to take out COVID-19 in a second, the Korea Railroad Research Institute said Monday. According to the KRRI, the newly developed anti-virus equipment weighs 1.8 kilograms, making it easy for workers to carry it around public transportation such as subways and trains. As the UV ray-using virus killer does not have a risk of fire or leave residue, the KRRI said it can be used for disinfection work in places w
Nov. 14, 2022
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KT invests $2m in US voice biomarker tech startup Sonde Health
KT Corp. said Thursday it is making a strategic investment worth $2 million in Sonde Health, a US voice biomarker tech startup that analyzes people’s voice to recognize depression, anxiety and respiratory problems. The Boston-based firm, equipped with the world’s largest amount of data on voice health, has already secured partnerships with global tech companies like Qualcomm and GN Group. Vocal biomarkers are gaining renewed attention recently, with voice-related services from smartp
Nov. 10, 2022