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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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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Police to open alleged stalking probe over pastor over Dior bag scandal
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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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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Naver CEO voices confidence in data backup
Naver CEO Choi Soo-yeon on Monday underscored the IT giant’s data stability, pointing out that the company’s services are being provided soundly. “Established in 2013, data center Gak (Chuncheon) plays a linchpin role in offering (Naver’s) various services stably. With the high level of data backup and mirroring measures, we were able to normalize our services within a few hours in the wake of the recent fire at (SK C&C’s) data center,” said Choi in a conf
Nov. 7, 2022
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Hyundai Glovis to enter EV battery recycling market
Hyundai Glovis is entering the fast-growing recycling market for used electric vehicle batteries by developing a renewable energy complex and power grid models in Shinan-gun, South Jeolla Province, the company said Monday. Joining hands with Korea Hydro & Nuclear Power, Sinan County Office and LS Electric, the company will set up energy storage systems using used batteries next year to help the eco-friendly transition of the county’s fuel-based power plant. Glovis said its ESS technolo
Nov. 7, 2022
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Hanwha to complete on-site inspection on DSME this month
South Korea's defense-to-energy conglomerate Hanwha Group is expected to complete on-site inspection on Daewoo Shipbuilding & Marine Engineering this month, with plans to finish the acquisition process within the first half of next year, industry sources said Monday. Hanwha began inspection on DSME last month, but had extended the original four-week long period to six weeks, citing its need to thoroughly analyze DSME’s status and competitiveness in the market. The shipbuilder has
Nov. 7, 2022
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Daesang to launch JV in Poland for kimchi production
South Korea's leading kimchi maker Daesang said Monday it signed an agreement with a Polish food company to establish a joint venture to sell kimchi in Europe. Named "Daesang ChPN Europe," the joint venture will be 76 percent owned by Daesang and 24 percent owned by Charsznickie Pola Natury (ChPN), a Polish food product distributor. The new entity will be launched in January, next year. With this joint effort, Daesang said its popular kimchi brand Jongga will be able to enter the
Nov. 7, 2022
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US expansion matter of when, not if: Samsung Biologics
Samsung Biologics, the world's leading contract development and manufacturing organization by production capacity, is reviewing overseas expansion options with a determined will to set up a production foothold in the US in the future. "The US expansion is happening eventually. It's not about 'if.' It's about 'when,'" James Park, Samsung Biologics’ chief business officer, told a group of reporters last week at the Convention on Pharmaceutical Ingredients in Frankfurt, Germ
Nov. 7, 2022
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Naver Q3 net income down 28.2% to W231.6b
Naver Corp. on Monday reported its third-quarter net income of 231.6 billion won ($163.2 million), down 28.2 percent from a year earlier. The company said in a regulatory filing that it posted 330.2 billion won in operating profit for the quarter, compared with 349.8 billion won a year ago. Sales rose 19.1 percent to 2.05 trillion won. The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 298.8 billion won, according to a survey by Yonhap Infomax,
Nov. 7, 2022
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Seoul shares open higher on tech, auto gains
South Korean stocks opened higher Monday on strong advances by tech and auto heavyweights. The benchmark Korea Composite Stock Price Index had increased 14.59 points, or 0.62 percent, to 2,363.02 points as of 9:15 a.m. Tech and auto giants led the KOSPI's hike after a media report that the chair of Boeing Co. met with top officials of Samsung Electronics, Hyundai Motor Group and Hanwha Solutions to discuss new business cooperation. Market bellwether Samsung Electronics rose 1.18 percent. To
Nov. 7, 2022
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[Exclusive] Legoland Korea operator confident on future investment
Legoland Korea Resort, a theme park in Chuncheon, Gangwon Province that opened in May in partnership with a local developer, does not plan to cut back on its operations and will fund any further expansion itself, regardless of the developer’s recent default, the UK-based attractions operator Merlin Entertainments told The Korea Herald last week. “Any plans Merlin has for future investment are wholly financed by itself,” a spokesperson for Merlin said in an email. But whether th
Nov. 6, 2022
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LS Electric seeks to bolster cooperation with Thailand
South Korean power solutions producer LS Electric said Friday that a Thai delegation, led by Ambassador to Korea Witchu Vejajiva, recently visited its smart factory in Cheongju, North Chungcheong Province, and discussed ways to bolster business cooperation. During the visit on Thursday, the ambassador was accompanied by Nithi Patarachoke, president of Siam Cement Group, Thailand’s second-largest business group specializing in construction, chemistry and packaging. The Cheongju factory prod
Nov. 6, 2022
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Core consumer inflation hits 21-year high
The core consumer price index, an inflation barometer that measures consumer prices excluding food and energy, has increased by the largest margin in 21 years. Statistics Korea’s all items index logged 106.09 as of October this year, up 3.5 percent from the previous year’s January-to-October period. It was also the largest jump on year in 14 years. The index is an OECD standard for core inflation, which excludes food and energy because those prices are more volatile due to seasonal a
Nov. 6, 2022
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[Contribution] Tax agency to help find unclaimed income tax refunds
Kim Young-chul, a food delivery rider in Seong-dong, Seoul, recently received a text message from the National Tax Service sent to inform him about unclaimed income tax refunds for the last five years. The message was suspicious, Kim said, but soon he recalled a colleague telling him about how convenient the tax refund system was set on the “Hometax” website, and how he received a swift income tax refund this May. Kim then immediately logged on to the Hometax website and soon learned
Nov. 6, 2022
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'Like the iPhone did, robots will open a new market'
The first iPhone, introduced in 2007, wowed markets around the world because it had everything that people wanted. The very first smartphone combined everyday features in one single palm-sized device, opening a new era for humanity to pursue technology-driven lives. The next revolutionary technology will be led by robots, according to the Korea Institute for Robot Industry Advancement (KIRIA) President Shon Woong-hee, if they provide breakthrough services that cater to "human desires"
Nov. 6, 2022
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Chiefs of Hana Financial Group and MSCI discuss climate change response
Hana Financial Group Chairman Ham Young-joo met Friday with Henry Fernandez, chairman of the US financial firm Morgan Stanley Capital International, at Hana Financial Group's headquarters in central Seoul to discuss climate change response as well as environment, social and governance management. At the meeting, Ham introduced Hana Financial Group's ESG management efforts and its future plans to deal with the growing climate change risks. “Hana Financial Group is recognizing clim
Nov. 6, 2022
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Korea to expand funding for venture capitals to invest in startups
The Ministry of SMEs and Startups said Friday that it will expand its funding for venture capitals’ investment in startups to a total of 8 trillion won ($5.6 billion) by 2026 to spur startups’ growth. “Battered by inflation, high interest rates and a strong US dollar, investments into Korean startups are slowing down,” said SMEs and Startups Minister Lee Young. “The country needs a more dynamic ecosystem to boost the startup industry led by the private sector and su
Nov. 4, 2022
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Millie’s Library pushes ahead with IPO despite lukewarm market
Millie’s Library, one of South Korea’s largest e-book subscription platforms, said Friday it will make its stock debut on the tech-heavy secondary bourse Kosdaq later this month, despite the unfavorable market sentiment. “This is the time to invest in growth. We aim to grow into a multicontent platform based on reading,” Seo Young-taek, CEO of Millie’s Library, said during a press conference held the same day. "The company no longer requires marketing tactics t
Nov. 4, 2022
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Finance minister vows tax breaks for venture capitalists
SEJONG -- The nation’s top economic policymaker on Friday unveiled plans to help facilitate investments in cash-strapped startups, suggesting hefty tax benefits for both corporate and individual investors. At a ministerial meeting in Seoul, Deputy Prime Minister and Finance Minister Choo Kyung-ho pointed to the situation whereby the private sector’s investments in startups have contracted in the wake of externally and domestically unfavorable factors in the economy. “Venture
Nov. 4, 2022
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KT&G to buy back shares worth W350b to boost shareholder returns
South Korean tobacco company KT&G said Friday it plans to buy back 350 billion won ($245.1 million) of its own shares in a bid to boost shareholder returns. The firm is also considering increasing dividends per share by more than 200 won compared to last year. It is the second share buyback since last year when the company bought back 350 billion won of its shares and paid dividends of some 576 billion won to shareholders. In November 2021, the company announced it would carry out a shareh
Nov. 4, 2022
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Finance minister vows to support shipping firms, startups amid recession woes
South Korea plans to provide a wide array of support to local shippers and venture companies to add vitality to the weak investment sentiment amid the looming global recession, the finance minister said Friday. "Recently, external and internal uncertainties have been rising due to the growing concerns over a global slump and expanding volatility in the financial market," Finance Minister Choo Kyung-ho said during an emergency meeting with economy-related ministers. "The South Kore
Nov. 4, 2022
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[Graphic News] Deadly crowd crush spurs people's interest in CPR
The recent deadly crowd crush in Seoul sparked widespread interest among South Koreans in cardiopulmonary resuscitation that can help save lives during cardiac emergencies. Videos from Saturday's accident during Halloween festivities in Itaewon, which left 156 dead, showed not only rescue workers but also ordinary civilians desperately giving CPR to victims on the streets. Posts by people who performed CPR went viral on the internet, bringing home to people the importance of the emergency
Nov. 4, 2022
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[Herald Interview] ‘One arm gets influenza, other arm gets COVID’
The novel coronavirus is likely to evolve into a flu-like respiratory virus by the end of 2023, or in 2024, once the COVID-19 pandemic reaches its endemic phase, eventually requiring people to get vaccinated year after year, a senior leader at Moderna said. “During the endemic period, the (COVID-19) vaccine will become available just like the influenza vaccine. You will be able to go online to a health center, do your pre-booking and pay for the vaccine exactly as you would for a flu vacci
Nov. 3, 2022