Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Medical profs at top hospitals suspend surgeries, clinics
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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[Photo News] Samsung's big bet on display
South Korean President Yoon Suk Yeol (center), Samsung Electronics Chairman Lee Jae-yong (third from left) and other government and company officials pose for a photo at Samsung Display’s Asan Campus in Gyeonggi Province on Tuesday in celebration of the tech giant’s new 4.1 trillion won ($3.1 billion) investment into upgrading production lines of high-end display panels by 2026. Samsung said its planned investment could help facilitate related industrial ecosystems as well as the loc
April 5, 2023
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US hinders S. Korea’s nuclear plant export to Czech Republic
The US government has turned down Korea Hydro & Nuclear Power’s report on bidding for a nuclear power plant project in the Czech Republic, raising concerns that the Korean export plans of reactors may fall short due to ongoing litigation with Westinghouse Electric Co. The documents, which were submitted to the US District Court in Washington, showed Wednesday that KHNP submitted the relevant paperwork to the Department of Energy in December in compliance with the US Code of Federal Reg
April 5, 2023
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Busan's historic trade port to turn into BIE big data hub
South Korea has proposed turning its first trade port in Busan, the North Port, into a big data center storing the history and legacy of Bureau International des Expositions, if it succeeds in its bid to host the World Expo in Busan in 2030. The Busan Expo bidding committee made the proposal to the BIE delegation while it was here for on a six-day inspection trip, which began Sunday. The next World Expo will take place in 2030, the year the BIE marking its 100th anniversary. Bidding to host the
April 5, 2023
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Users can now decline KakaoTalk group chat invites from non-friends
KakaoTalk, South Korea’s ubiquitous mobile messenger app, has finally let users decline unwanted group chat invites from people outside of their friend list, a much-anticipated move for those who have experienced stress or discomfort over exiting group chats. However, if the inviter is on a user's KakaoTalk friends list, the user will be automatically added into the group chat. The new feature, which was added as part of a KakaoTalk system update last week to version 10.1.5, requires
April 4, 2023
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Korea vows all-out efforts to fight trade deficit
Experiencing a trade deficit for more than 13 consecutive months, South Korea will make pangovernmental efforts to lead a turnaround in trade, introducing support programs to foster key industries, the Trade Ministry said Monday. The Ministry of Trade, Industry and Energy said it held a trade inspection meeting in Seoul with related government agencies to find ways to deal with the continuing fall in trade. “While the country logged a massive trade deficit in January, the balance is gradua
April 3, 2023
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KT plagued by unprecedented leadership vacuum
South Korean telecommunications giant KT Corp. is in shambles due to an unprecedented leadership vacuum, with not only its chief executive, but also almost all of its board members stepping down amid speculations of revolving door appointments. Just before the start of this year's regular shareholders meeting on Friday, KT's three outside board members -- Kang Chung-gu, Pyo Hyun-myung and Yeo Eun-jung -- announced their resignations, leaving the board in almost complete vacancy. Kim
March 31, 2023
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Naver to support Saudi Arabia in building city-scale digital twin, super app
Naver will support Saudi Arabia in creating a city-scale digital twin and developing a “super app” using its advanced technologies, the South Korean internet giant said Thursday. Naver said the company and its artificial intelligence and cloud service affiliates Naver Labs and Naver Cloud signed an agreement with the Saudi Arabian Ministry of Municipal and Rural Affairs and Housing, or MoMRAH, and the Ministry of Investment, or MISA, to cooperate on the Middle Eastern country&rsquo
March 31, 2023
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Korean chips act aims to extend tax cuts for local chipmakers
South Korea on Thursday passed a revision bill deemed the “Korean chips act” with greater tax breaks for investments in the semiconductor industry to lighten the burden for Korean chipmakers competing in the global chips arms race. The National Assembly passed a revision bill to the Restriction of Special Taxation Act, which raises the corporate tax break for facility investment in the semiconductor and other strategic industries to 15 percent for large corporations such as Samsung E
March 30, 2023
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McKinsey promotes Hyejin Kang to senior partner in Seoul office
McKinsey & Co., a global consulting firm, said Wednesday it has promoted partner Hyejin Kang to senior partner. Kang, who assumes the role on April 1, holds a bachelor's degree in microbiology from Seoul National University and a doctorate in neuroscience from the California Institute of Technology in the US. Since joining the company in 2001, Kang has been in charge of evaluating corporate culture of Korea’s top 100 companies. She is credited for playing a leading role in facilit
March 29, 2023
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LG Innotek develops upgraded vehicle communication module
LG Innotek said Wednesday it has successfully developed an upgraded vehicle-to-everything communication module that drastically improves data transmission speed. The second-generation 5G network-based module, using Qualcomm chips, is considered a crucial safety component for autonomous driving. The company said it is seeking to start promotional activities targeting global car and parts makers, with an aim to debut the final product by 2025. The official product name is 5G-V2X Cellular Module. T
March 29, 2023
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SK hynix CEO says won't cut production further
SK hynix, the world's second-largest memory chip maker, will not carry out an additional cut in chip production this year, and will stick to its plan to build an advanced packaging plant in the US, the company's chief executive officer said Wednesday. Speaking at a shareholders meeting at the company's headquarters in Icheon, Gyeonggi Province, SK hynix Vice Chairman and co-CEO Park Jung-ho forecast the demand for chips to recover in the second half of this year. But as uncertaint
March 29, 2023
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Celltrion chairman hints at aggressive M&As this year
Celltrion's founder and returned chairman Seo Jung-jin said the company will be able to secure some 5 trillion won ($3.8 billion) for mergers and acquisitions of pharmaceutical and biotechnology firms, through which the company aims to boost its new drug development capability. The company also plans to build its fourth manufacturing plant in the US, according to the chairman. "After the first half this year, the number of M&A candidates will come down to around 10, and the company w
March 29, 2023
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[Beyond Earth] ‘Korea needs to join inner club of space powerhouses’
South Korea needs to join the “inner club of global space powerhouses” by developing unmatched space technology and becoming an attractive partner within the club, according to the first vice minister of the Ministry of Science and ICT. “There are areas where we need to stand on our own in terms of technology. But we can’t do everything by ourselves. For instance, we can’t do space exploration alone,” said First Vice Minister Oh Tae-seog in a recent interview
March 29, 2023
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[Photo News] 5th Apple store in Seoul
Passersby walk past Apple's fifth retail store in Seoul on Wednesday. The Apple Gangnam, located near the Shinnonhyeon Subway Station in southern Seoul, will start operation at 5 p.m. Friday. Some 140 staff will be stationed to offer services not only in Korean, but also in Chinese, Japanese, Thai, French, German and English, the company said.
March 29, 2023
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LG Chem to invest W10tr by 2025
LG Chem, a leading South Korean chemical company, announced Tuesday that the company will invest 10 trillion won ($7.7 billion) in its three business categories of batteries, drugs and sustainable energy solutions. With the investment, LG Chem aims to post 30 trillion won in annual sales by 2030, the company added. “There are many challenges ahead. Economic uncertainty remains high, regulations for carbon emissions are elevated, and the renewable energy sector has become increasingly compe
March 28, 2023
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LG Display secures W1tr from sister unit
LG Display has decided to borrow 1 trillion won ($770.1 billion) from LG Electronics to secure operation funds, as the Korean display maker struggles to make ends meet amid sluggish demand. In a regulatory filing on Monday, LG Display said it decided to borrow 1 trillion won from LG Electronics at an interest rate of 6.06 percent for three years starting from Friday. The display maker would only be obligated to pay the interest during the first two years, and must pay back the loan by the rema
March 28, 2023
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[Herald Interview] Rebellions aims to be 'next Samsung' in AI chips
Park Sung-hyun, co-founder and CEO of South Korean chip designer Rebellions, compared the latest buzz over artificial intelligence-powered chatbot ChatGPT to that of the first iPhone decades ago. “This is a kind of industrial revolution. There may be no drastic change immediately, but we don’t know how far AI will go in replacing humans in the future,” Park told The Korea Herald in a recent interview, adding that it was the iPhone 3 that started bringing drastic changes across
March 27, 2023
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LG stays low key on its 76th anniversary
South Korea’s fourth largest conglomerate LG Group marked its 76th anniversary on Monday. Unlike last year, the group did not plan a special event and LG Group Chairman Koo Kwang-mo did not deliver a celebratory message. “We usually do not really plan events on anniversaries, unless it is every five or 10 years. Last year was a little different because it was the 75th year,” an LG Group official told The Korea Herald. For last year’s anniversary, Koo delivered an encourag
March 27, 2023
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Samsung chief travels to China first time in 3 years, meets with key officials
Samsung Electronics Chairman Lee Jae-yong is making the most out of his first trip to China in three years, inspecting the affiliates’ production facilities, meeting with key Chinese officials and attending a high-profile summit with global business leaders. Samsung Electronics said Lee attended the China Development Forum, a three-day forum that kicked off Saturday in Beijing. There, Lee met with heads of major tech giants to exchange opinions on various agendas, including global manageme
March 26, 2023
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Indonesia seeks Korean support for upgrading healthcare system
Indonesia’s health minister on Friday vowed to support South Korean companies for their business expansion in the burgeoning healthcare market of the Southeast Asian country at a forum held in Seoul celebrating the 50th anniversary of bilateral ties between the two countries. “The Indonesian government is trying to improve the country’s healthcare sector, in which South Korea’s cooperation is very important,” said Minister Budi Gunadi Sadikin during a business sessi
March 24, 2023