Most Popular
-
1
Yoon, Lee end first talks with differences, agree to meet more
-
2
What is Hybe’s next move?
-
3
China outpaces Korea in smaller OLED shipments for 1st time
-
4
Medical profs at top hospitals suspend surgeries, clinics
-
5
[Herald Interview] Mom’s Touch seeks to replicate success in Japan
-
6
Police to open alleged stalking probe over pastor over Dior bag scandal
-
7
'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
-
8
Samsung chip business back on track, logs W1.9tr operating profit in Q1
-
9
[News Focus] Lee tells Yoon that he has governed without political dialogue
-
10
Seoul to deploy more military doctors to fill med prof void
-
[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
-
Samsung Biologics underscores commitment to sustainability
FRANKFURT, Germany -- Samsung Biologics’ top official on Wednesday stressed the importance of contract development and manufacturing organization companies’ efforts to reduce greenhouse gas emissions and how the South Korean CDMO giant is working toward achieving environmental friendliness. “CDMOs play a huge part because we provide the manufacturing and logistics for a lot of (biopharmaceutical) companies and we have to continue to innovate together,” said James Choi, ex
Nov. 3, 2022
-
[From the Scene] Korean firms' presence at CPhI triples this year
FRANKFURT, Germany -- The Convention on Pharmaceutical Ingredients (CPhI) Worldwide connected thousands within its community from Tuesday to Thursday in Frankfurt, Germany. Included on this global stage were 62 South Korean pharmaceutical and biopharmaceutical companies, tripling the country’s presence from the event last year. Based on the number of exhibitors by country, Korea ranked ninth of the 72 countries. Korea was also the only country that had two pavilions for exhibiting each nat
Nov. 3, 2022
-
Seoul to inject W2tr fund to incubate 1,000 tech-focused startups by 2027
The Ministry of SMEs and Startups said Thursday it plans to inject more than 2 trillion won ($1.4 billion) of investment comprised of state and private fund to incubate around 1,000 advanced technology-based startups for the next five years. Categorized as the “deep-tech” sector, the ministry selected 10 industries of growth including system semiconductors, biologics and health care, future mobility, next generation nuclear power plants and quantum technology. It is the largest su
Nov. 3, 2022
-
[Photo News] FX Reserves falling
A Hana Bank Counterfeit Notes Response Center official examines a $100 bill on Thursday at the center located in Jung-gu, central Seoul. As the Korean won weakens against the US doller, South Korea's foreign exchange reserves shrank for the third consecutive month in October to $414.01 billion, down by $2.76 billion since September.
Nov. 3, 2022
-
S. Korea braces for impact as US delivers fourth big rate hike
South Korea’s financial authorities said Thursday they would closely monitor for any signs of increasing volatility in the financial markets following a big US rate hike -- the fourth consecutive 75-point increase since June amid persistent inflation. “Uncertainties are certainly growing and we’ll be extra vigilant in our response to what may come in our way,” Finance Minister Choo Kyung-ho said at a meeting he called to discuss Wednesday’s rate increase with the co
Nov. 3, 2022
-
Chinese EV battery makers gobbling up market share from Korean rivals
Chinese electric vehicle battery makers are quickly gobbling up market share from their South Korean rivals, largely buoyed by a surging demand at home, data showed Thursday. According to Seoul-based market tracker SNE Research, China’s CATL retained its top spot in global sales in the January-September period as it supplied 119.9 gigawatt-hours of batteries, more than doubling from a year ago. Its market share increased from 30.7 percent to 35.1 percent, widening the gap with Korea’
Nov. 3, 2022
-
Samsung appoints trade, energy specialists as new outside directors
Samsung Electronics on Thursday held an extraordinary shareholders meeting – the first in six years – to appoint two outside directors – Yoo Myung-hee, a former trade minister, and Heo Eun-nyeong, an economics professor. Yoo served as the nation’s top negotiator for free trade talks during the Moon Jae-in administration. She was also one of the final candidates to run for the director-general of the World Trade Organization in 2020. Yoo, a trade specialist, is expected to
Nov. 3, 2022
-
Economic sentiment in news hits worst since onset of pandemic
The economic sentiment among South Koreans shown in news reports has hit its worst since the beginning of the COVID-19 pandemic, amid growing market concern over US-led interest rate hikes and the Korean won’s descent against the greenback. The Bank of Korea said on Thursday that the News Sentiment Index has fallen 7.72 points from a month ago to 81.25 in October, the lowest since 79.16 in April 2020. The NSI is a machine learning-based indicator of econominc sentiment expressed in news re
Nov. 3, 2022
-
Congestion levels of rush hour subways similar to that of Itaewon tragedy: data
Commuter data published Thursday by South Korean telecommunications provider SKT showed that during the peak of rush hour, Seoul’s subways have similar levels of congestion as the Itaewon alley during Saturday’s crowd surge tragedy, raising safety concerns. According to data collected between Aug. 1 and Monday, Seoul Metro’s Line No. 1 operates at 252 percent of its passenger capacity at 6:40 p.m. as it passes by Guro Station towards Guil Station, carrying commuters home. Train
Nov. 3, 2022
-
Proxy battle looms at Samsung as Lee Jae-yong tightens grip
Lee Jae-yong’s formal ascension to the top seat at Samsung Electronics, the crown jewel of the nation’s largest conglomerate, is fueling speculation about potential changes in the founding family’s governance structure across Samsung companies. His promotion to chairman has long been considered a crucial step for Lee to wield more power at Samsung. With the new title, Lee’s vision for a “New Samsung” will take a clearer shape, while stalled talks on mega deals
Nov. 2, 2022
-
[Exclusive] SK Pharmteco’s French CDMO to complete construction of new plant in Q1 2023
FRANKFURT, Germany -- Yposkesi, SK Pharmteco’s French contract development and manufacturing organization specialized in cell and gene therapy, is expecting to complete the construction of its new plant by the end of the first quarter next year, the CDMO’s CEO said Tuesday. “After (the completion of the plant), we will qualify this manufacturing unit and we expect to get the authorization from the French authorities to operate the plant under the (Good Manufacturing Practice) b
Nov. 2, 2022
-
[Herald Interview] ‘Biopharmas in midst of manufacturing revolution’
As biopharmaceutical companies across the globe are undergoing revolutionary changes in bioprocessing, Merck Life Science appears committed to helping Korean companies stay ahead of the game. Meeta Gulyani, head of strategy, business development and sustainability at Merck Life Science, told The Korea Herald last week that the factory of the future features connected, automated and digitized manufacturing. “All of this is to say that we are going to try to increase the speed of manufacturi
Nov. 2, 2022
-
Jeju kicks off autonomous driving service
South Korea’s Transport Ministry announced Wednesday that it will begin operating an autonomous driving transportation service that can transport tourists and local residents around Jeju Island starting from Thursday. The autonomous driving vehicles will travel two routes. One will travel 16 kilometers back and forth from Jeju International Airport to the road along the coast of Jeju Island passing through Yongduam Rock and Iho Tewoo Beach, and the other will travel 5 kilometers within the
Nov. 2, 2022
-
Lotte to inject W1tr to expand online grocery business
Lotte Shopping, the e-commerce arm under retail giant Lotte, said Wednesday it plans to inject some 1 trillion won ($705 million) to boost its online grocery business. In partnership with Ocado, UK’s retail solutions provider, the company will adopt the Ocado Smart Platform, which uses artificial intelligence, big data and machine learning technologies to offer fast delivery service of fresh groceries. The platform operates automated fulfillment centers where hundreds of robots sort and pi
Nov. 2, 2022
-
Korea sees inflation expand on hikes in public utility bills
SEJONG -- South Korea’s consumer price growth, a key indication of inflation, posted a higher figure in October compared to the previous month in the wake of sharp hikes in public utility charges despite decelerated growth in energy prices, state data showed Wednesday. According to Statistics Korea, consumer prices grew 5.7 percent on-year in October. This tied with the figure for August, and was higher than the 5.6 percent recorded in September. Though consumer price growth somewhat dec
Nov. 2, 2022
-
4 out of 10 CEOs at 500 largest firms from 3 top universities
Four out of 10 chief executive officers at South Korea’s 500 largest companies graduated from the nation’s top three universities -- Seoul National University, Korea University and Yonsei University -- and only 1.7 percent of the CEOs were women. According to a report by corporate data research institute CEO Score, 265 of the 659 CEOs, or 44.6 percent, went to the top three universities, which decreased by 2.5 percentage points from 47.1 percent 10 years ago. Seoul National Universit
Nov. 2, 2022
-
Chanel raises prices in Korea to 'ensure fairness'
Chanel raised the prices of its handbag, jewelry and clothing products in Korea by 5 to 12 percent on Wednesday, citing global price equity as the primary reason. This is the company’s fourth price hike this year. As per the price increase, the price of Chanel’s Mini Flap Bag rose by 7 percent, from 5.94 million won to 6.37 million won ($4,190 to $4,490), while the price of Chanel’s Classic Large Flap Bag rose by 6 percent, from 13.35 million won to 14.2 million won. Chanel&rsq
Nov. 2, 2022
-
Seoul stocks open lower on Wall Street losses
Seoul stocks opened lower Wednesday, taking a cue from overnight falls on Wall Street, as the US Federal Reserve is set to hold its interest-setting meeting. The benchmark Korea Composite Stock Price Index fell 8.8 points, or 0.38 percent, to 2,326.42 in the first 15 minutes of trading. US stocks closed lower as a surprising rebound in US job opening data dashed investors' hopes the central bank may slow down the pace of rate hikes. The S&P500 fell by 0.41 percent, the Dow Jones Index b
Nov. 2, 2022
-
Celltrion seeks partnership expansion at CPhI Worldwide
FRANKFURT -- Celltrion, a South Korean pharmaceutical giant, is seeking to expand partnerships at this year’s Convention on Pharmaceutical Ingredients Worldwide, the company said Tuesday. Taking place in major European cities each year, CPhI is one of the largest global pharma industry events in the world that gathers household names and experts. The German city of Frankfurt is holding this year’s event from Tuesday to Thursday. According to Celltrion, the drug maker has set up an in
Nov. 1, 2022