Most Popular
-
1
Exports to US reach all-time high, widen gap with China
-
2
Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
-
3
[Music in drama] Rekindle a love that slipped through your fingers
-
4
S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
-
5
[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
-
6
Seoul Metro to seek legal action against malicious complaints
-
7
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
8
Illit, mired in controversy, remains on Billboard charts for 5th week
-
9
On May Day, labor unions blast Yoon's foreign nanny proposal
-
10
[KH Explains] Will alternative trading platform shake up Korean stock market?
-
Come In Wash speeds up global expansion
Come In Wash, a Korean company specializing in automated car wash systems, is speeding up its global expansion through its patented “no-touch, no-brush” car wash technology. Established in 2019, Come In Wash rose to prominence at home with its innovative technology that relies only on high-pressure water jets to clean vehicles, without the need for brushes. Since then, this technology has gained international acclaim with expansions into the Philippines, Japan and the United States.
May 1, 2024
-
[KH Explains] Will alternative trading platform shake up Korean stock market?
Korea’s stock market is set to enter a new phase with the upcoming launch of the first alternative trading system for the Korea Exchange, the nation’s sole bourse operator that has enjoyed almost 70 years of monopoly. Nextrade, a consortium of 34 securities and tech firms established in November 2022, aims to earn the final regulatory approval within the year for its official debut in the first quarter of next year. More than 20 brokerage houses here have already expressed their inte
May 1, 2024
-
GS chief visits Microsoft headquarters
GS Group Chairman Huh Tae-soo has reiterated the significance of digital transformation as the Korean energy, retail and construction conglomerate continues to seek out business innovation opportunities. According to GS Group on Wednesday, Huh and several CEOs of the conglomerate’s major affiliates such as GS Retail, GS Energy, GS Caltex and GS Engineering & Construction, held an annual overseas CEO meeting in Seattle from Monday to Tuesday and visited Microsoft's headquarters a
May 1, 2024
-
Exports to US reach all-time high, widen gap with China
South Korea's exports increased for seven straight months, jumping 13.8 percent in April on strong chip demand and record-high automobile sales. Exports to the US, in particular, reached an all-time high, further widening the gap with China, the country's second-largest export destination. Outbound shipments came to $56.2 billion, up 13.8 percent on-year, according to data revealed by the Ministry of Trade, Industry and Energy on Wednesday. The data showed that imports rose by 5.4 perc
May 1, 2024
-
KCCI chief renews will to play bigger role in boosting economic diplomacy
Marking the 140th anniversary this year, the Korea Chamber of Commerce and Industry or KCCI, the nation's largest business lobby, hosted the Global Business Networking Night event in Seoul on Tuesday to further promote foreign investment and attract global companies to nurture the country as the business hub in Asia. “Starting with tonight's event, the KCCI will further strengthen its role as an economic and diplomatic platform,” KCCI Chair Chey Tae-won, who also serves as
May 1, 2024
-
Fila chairman named this year’s Van Fleet Award winner
Yoon Yoon-soo, chairman of the Fila Holdings Corp. and Acushnet Holdings Corp., has been named this year's winner of the General James A. Van Fleet Award in recognition of his contributions to Korean-US relations, according to the Korea Society on Wednesday. The Korea Society highlighted Yoon's involvement in founding and advising the Korea-US Alliance Foundation and the Korea Defense Veterans Association in 2017, both of which honor the bravery and sacrifice of Korean War veterans, as
May 1, 2024
-
Govt. to launch task force for supporting people's livelihoods
Finance Minister Choi Sang-mok said Wednesday the government will set up a task force in charge of monitoring and resolving issues regarding economic livelihoods of the people. Choi made the remarks during an emergency economic ministers' meeting in Seoul, stressing the government's priority of reviving the economy and boosting consumer sentiment amid weak domestic demand and high inflation. "We will not just be satisfied with decent economic data and will put policy priority on h
May 1, 2024
-
Creditors of Taeyoung E&C approve capital reduction plan
Creditors of Taeyoung Engineering & Construction on Tuesday approved a massive capital reduction plan designed to support the builder currently undergoing a debt restructuring program. More than 75 percent of the builder's creditors agreed to the plan to reduce major shareholders' stakes at a 100-to-1 ratio without compensation. The plan, proposed by Taeyoung's main creditor, Korea Development Bank, earlier this month, also seeks to raise some 700 billion won ($507 million) th
April 30, 2024
-
S&P keeps 'AA' rating on S. Korea with stable outlook
Global credit appraiser S&P Global Ratings said Tuesday it has maintained its credit rating on South Korea at "AA," with a stable outlook. S&P has kept South Korea's long-term sovereign credit rating at the third-highest level on the company's table since August 2016, when it upgraded the rating by one notch from "AA-." "The stable rating outlook reflects our expectation that (South) Korea will maintain average growth rates that are higher than most oth
April 30, 2024
-
Line, Kakao eye Asia’s No. 1 blockchain network
Blockchain platform operators under Korean tech giants Line and Kakao are to complete integration under the new brand name "kaia" in June, the entities announced Tuesday. Project Dragon, created through a merge of Kakao's blockchain platform Klaytn Foundation and Finschia Foundation under Naver's affiliate Line Tech Plus, said it plans to complete the integration of the respective blockchain ecosystems in June, following a merger announced in February. “Such a merger of
April 30, 2024
-
Samsung chip business back on track, logs W1.9tr operating profit in Q1
After logging losses for five consecutive quarters, Samsung Electronics' chip business returned to the black in the first quarter this year, thanks to rising demand for high-end chips and a surge in chip prices. In its earnings report for the January-March period on Tuesday, Samsung said its chip division reported 23.1 trillion won ($16.7 billion) in sales and 1.91 trillion won in operating profits. The profit comes after the company suffered operating losses for five consecutive quarters.
April 30, 2024
-
Marking 10 years, KB accelerator nurtures 255 startups
More than 250 startup companies have joined KB Financial Group’s accelerator program over the past 10 years to scale up businesses into unicorns in the fintech industry. KB Financial Group held an event on Tuesday marking the 10th anniversary of the KB Innovation HUB Center, the first organization dedicated to fostering and supporting startups in the financial sector. Since KB Innovation HUB Center’s inception in 2015, the group launched its startup accelerator program, KB Starters
April 30, 2024
-
Financial groups maintain capital adequacy despite ELS risk
Korean banking groups maintained solid capital adequacy despite significant payouts for consumer compensation due to misselling equity-linked securities tracking a Hong Kong index. Industry sources reported that the average capital adequacy ratio, or Common Equity Tier 1, among five major Korean financial groups -- KB, Shinhan, Hana, Woori, and NongHyup -- was 12.8 percent in the first quarter of this year, a slight decline from 13 percent in the previous term and 12.9 percent from the same peri
April 30, 2024
-
Seoul shares up for 3rd day on Samsung, batteries
South Korean stocks finished up for a third consecutive session Tuesday backed by a strong earnings performance by top cap Samsung Electronics and overnight US stock gains. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 4.62 points, or 0.17 percent, to 2,692.06. Trade volume was moderate at 450 million shares worth 11.1 trillion won ($8.03 billion). Winners outpaced losers 439 to 408. Institutions and foreign investors combined bought a net 52
April 30, 2024
-
[Photo News] Samsung Olympic Experience Zone
Samsung Electronics said Monday it has opened the Samsung Olympic Experience Zone ahead of the upcoming Olympics in Paris. The venue, a collaboration with Pritzker Architecture Prize winner Jean Nouvel, will operate from March 3 to Oct. 31 to display diverse Galaxy devices. Samsung has been the official partner of the Olympics and Paralympics for about four decades. (Samsung Electronics)
April 30, 2024
-
Naver, Intel, KAIST join forces to set up AI lab in Korea
Naver, Intel and the Korea Advanced Institute of Science and Technology will set up a joint lab in Korea to lead the new global ecosystem for artificial intelligence semiconductors, KAIST announced Tuesday. The joint lab called NIK AI Research Center will be established on the KAIST campus in Daejeon in the first half of this year and begin research in July. KAIST said that the joint research center will be run for three years, adding that its operation can be extended depending on research achi
April 30, 2024
-
Shinsegae faces showdown with investors over SSG.com's delayed IPO
Korean retail giant Shinsegae Group's e-commerce unit SSG.com faces mounting pressure from investors to recoup the 1 trillion won ($727 million) investment made between 2019 and 2022 amid its delayed market debut hit by lukewarm sales in recent years. According to industry sources on Tuesday, Shinsegae is in last-minute discussions with Affinity Equity Partners and BlueRun Ventures, the two private equity funds that are reportedly considering exercising a put option to sell back their stake
April 30, 2024
-
Ministry launches special team to end dog meat consumption by 2027
The Ministry of Agriculture, Food and Rural Affairs on Tuesday launched a special commission dedicated to ending dog meat consumption in the country by 2027. Earlier on Jan. 22, the ministry had introduced a task force to iron out the details of implementing a government plan to end the practice, with a revision to the related law taking effect Tuesday. The task force has become an official entity under the ministry, comprising 13 members, including officials from the Ministry of Interior and S
April 30, 2024
-
SK Telecom to unveil LLM for telecom carriers in June
SK Telecom, Korea's largest wireless carrier by the number of subscribers, said Tuesday it aims to introduce a large language model specializing in telecom-related terms as early as June. The upcoming telecom-specific LLM is developed from general-purpose LLMs such as ChatGPT and Claude. SK Telecom joined hands with global Big Tech firms including OpenAI and Anthropic to develop the LLM. Telco-specific LLMs are more adjusted to the telecommunications domain and better at understanding use
April 30, 2024
-
GS E&C secures W600b LNG terminal project
South Korean construction giant GS Engineering & Construction announced Tuesday that it has won a contract worth 600 billion won ($435 million) to build a new liquefied natural gas terminal in Yeosu, South Jeolla Province. The Northeast Asia LNG Hub Terminal Project aims to establish a large-scale energy storage facility in the southwestern city of Yeosu. Expected to take about 42 months, the project will involve the construction of two LNG storage tanks, each with a capacity of 200,000 kilo
April 30, 2024