Most Popular
-
1
Yoon sorry for shortcomings but insists policies were right
-
2
1 in 3 Koreans live alone, family types becoming diverse
-
3
S. Korea ‘strongly’ protests Japan’s claim over Dokdo in diplomatic bluebook
-
4
US 'incredibly concerned' about suspected NK-Iran military ties
-
5
Korea, Japan finance chiefs vow to tame rampant FX market volatility
-
6
Korean won weakens amid heightened uncertainty
-
7
Seoul says will cut power to porn festival planned on Han River
-
8
Sewol victims commemorated on tragedy's 10th anniversary
-
9
K-pop group's manager dismissed for setting up spycam in theater dressing room
-
10
Chanel, Louis Vuitton see muted growth in Korea
-
4 of 5 chip experts say Korea faces 'worst crisis' in decade
South Korea's chip manufacturing industry is facing the worst crisis in a decade, a survey that polled semiconductor experts showed Monday. Twenty-four out of the 30 chip experts surveyed by lobby group Korea Chamber of Commerce and Industry responded that Korea is either facing the threat as grave as, or graver than, Chinese chipmakers' foray into memory chip business in 2016 or the trade war between the United States and China in 2019. Of the respondents, 13 said Korea's situati
Sept. 5, 2022
-
[Photo News] Chuseok money
Batches of 50,000 won bills are transported from the Bank of Korea on Monday ahead of the Chuseok holiday that kicks off on Friday.
Sept. 5, 2022
-
Samsung vows to take energy efficiency to next level at IFA 2022
Samsung Electronics on Monday pledged to take energy efficiency of its consumer electronics goods to the next level, supported by a combination of technologies from artificial intelligence to connected homes, during Europe's biggest tech show IFA 2022 that wraps up Tuesday. The cutting-edge technologies will allow Samsung to sell the most energy efficient refrigerators and washers among all products sold in Europe, the company claimed, using estimates from Samsung's own test results.
Sept. 5, 2022
-
Hyundai Mobis to promote EV module in US auto show
Hyundai Mobis Co., South Korea's leading auto parts maker, said Monday it will promote its high-end auto parts at a US auto show this month to strengthen its presence in the world's most important automobile market. Hyundai Mobis aims to explore new opportunities to sell its electric complete chassis platform module (eCCPM) for EVs and other high-end auto components to local carmakers at the North American International Auto Show, the company said in a statement. It will also focus on
Sept. 5, 2022
-
S. Korea-bound corn shipment departs from war-torn Ukraine
POSCO International Corp., a South Korean commodities trader, said Monday its shipment of Ukrainian corn departed from a port in the war-torn country and will arrive home later this month. A vessel carrying 61,000 tons of corn left Pivdennyi Port in Ukraine on Aug. 16 and is on its way via a sea route to reach Incheon, 27 kilometers west of Seoul, around late September, the trading arm of POSCO Holdings Co. said in a release. "All of the corn will be used for feed, which will help stabilize
Sept. 5, 2022
-
SK teams up with Malaysian firm for cooperation in hydrogen, renewables
South Korean energy-to-telecom conglomerate SK Group said Monday it is partnering with a Malaysian clean energy company to explore collaboration in hydrogen, renewable energy and green mobility, as part of efforts to bolster its green energy transition. Its three affiliates -- SK Materials Inc., SK Ecoplant Co. and SK Signet Inc. -- recently signed a memorandum of understanding with Gentari Sdn. Bhd., a subsidiary of Malaysia's state-run oil company Petroliam Nasional Berhad (Petronas), for
Sept. 5, 2022
-
S. Korean lunar orbiter's key trajectory maneuver proceeds successfully: KARI
South Korea's unmanned space vehicle Danuri has successfully undergone a trajectory correction maneuver (TCM), a critical procedure in the lunar orbiter's travel to the moon for the country's first lunar mission. Danuri, also known as the Korea Pathfinder Lunar Orbiter, was launched last month aboard a SpaceX Falcon 9 rocket from Cape Canaveral Space Force Station in the U.S. state of Florida for South Korea's first space mission beyond Earth's orbit. The orbiter is curr
Sept. 5, 2022
-
Current account surplus likely to narrow amid energy costs, slowing demand: minister
South Korea's finance minister said Monday the country's current account surplus could narrow as the trade balance will likely deteriorate amid a hike in energy prices and slowing global demand. Finance Minister Choo Kyung-ho also said the government will take stern actions against foreign exchange market-disturbing behaviors during the extended Chuseok fall harvest holiday amid the won's sharp weakness against the US dollar. The minister made the remark at the start of an emergen
Sept. 5, 2022
-
Seoul shares open higher on bargain hunting
Seoul stocks opened higher Monday on bargain hunting following a decline for two consecutive sessions amid concerns over the Fed's aggressive rate hikes and a global economic downturn. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.5 percent, or 11.98 points, to 2,421.39 as of 9:15 a.m. The KOSPI opened higher after falling 2.5 percent in the past two sessions as large-cap stocks advanced on institutional buying. Tech and auto stocks were the lead gainers, with market bellwe
Sept. 5, 2022
-
Foreign reserves fall in August on strong US dollar
South Korea's foreign reserves fell in August as the strong US dollar reduced the conversion value of euro and other currency-denominated assets, central bank data showed Monday. The country's foreign reserves came to $436.4 billion as of end-August, down $2.2 billion from the previous month, according to the data provided by the Bank of Korea (BOK). Foreign reserves consist of securities and deposits denominated in overseas currencies, International Monetary Fund reserve positions, sp
Sept. 5, 2022
-
GS Group launches promotion to support Busan Expo bid
South Korea’s retail-to-energy conglomerate GS Group said Sunday that it has launched promotional activities to support South Korea’s bid to host the 2030 Busan World Expo. GS Sports, the sports company operating the football team FC Seoul and GS Caltex Seoul Kixx volleyball team, has opened a special fan event Sunday to promote the country’s Busan Expo bid. FC Seoul installed a booth at Seoul World Cup Stadium where visitors can leave supporting comments and look at brochure
Sept. 4, 2022
-
[Contribution] Korea-Japan partnership more important than ever
The relationship between Korea and Japan has a huge impact on both our economic growth and security. I am confident that it is a propitious time to strengthen the two countries’ bilateral ties. Given the prolonged global supply chain crisis, close cooperation between the two Asian manufacturing powerhouses will benefit companies in both countries and worldwide. For instance, the global semiconductor shortage caused a tumult in the manufacturing and sale of all kinds of produc
Sept. 4, 2022
-
Lotte Group to build eco smart city, logistics center in Vietnam
South Korean retail giant Lotte Group said Sunday it will build an eco-friendly smart city complex and smart logistics center in Vietnam, as part of its expansion plan to cement a strong foothold in Southeast Asia. Under the $900 million Thu Tiem Eco Smart City project, the company plans to construct a 60-story building, with another five floors underground, comprising a shopping mall, cinema, office space, hotel, residences and apartments in Ho Chi Minh City. For the residential area, a big
Sept. 4, 2022
-
Han Sung Motor collaborates with NFT artist at Kiaf Plus
Kiaf Seoul, the country’s largest art fair that kicked off on Friday, has garnered the most-ever attention this year for bringing Seoul’s version of the top 3 global art fair Frieze to Asia for the first time, as well as giving birth to the new art fair Kiaf Plus – a special art show dedicated to digital art and aspiring young artists. South Korean imported car dealer Han Sung Motor is official sponsor of Kiaf Plus, in which 73 galleries from 11 countries with less than
Sept. 4, 2022
-
Posco President visits Argentina for Korea’s World Expo bid
Steel giant Posco Group’s Representative Director and President Jeong Tak visited the Argentinian government Thursday to ask for the country’s support on South Korea’s bid to host the 2030 Busan Expo, the company said Sunday. Jeong met with Santiago Cafiero, the Argentinian Minister of Foreign Affairs, to promote Busan as the No.1 port city that is most optimized to host a global exhibition. Jang Myung-soo, South Korean Ambassador to Argentina, was also present at the meeting.
Sept. 4, 2022
-
Hana to launch 26 trillion won financial aid program for socially vulnerable
South Korea’s Hana Financial Group said Sunday it plans to launch a financial aid program worth 26 trillion won ($19 billion) this month that will benefit some 700,000 vulnerable members of society annually. The program named "All Happiness Connected in Hana Finance" will focus on loan extension and cutting back interest rates for 350,000 small business owners, 90,000 mortgage borrowers and 250,000 financially vulnerable members of the population, including customers in their 20s
Sept. 4, 2022
-
Samsung’s foldable R&D chief talks about balancing tradeoffs
BERLIN – Samsung Electronics will focus on upgrading foldable phones and enhancing their user experience for now, despite their extensive study on diverse smartphone form factors such as rollable and slide types, according to a senior executive who oversees research and development for mobile devices. “Technically, we are studying all form factors. But now our top priority is upgrading the current foldable phones,” Choi Won-joon, executive vice president and R&D head of the mo
Sept. 4, 2022
-
LG to wide gap with rivals with enhanced OLED TV lineup
BERLIN – LG Electronics, the dominant No. 1 firm in the OLED TV market, said Saturday it aims to further widen its gap with rivals by offering a more diversified product lineup that meets different consumer demands. According to market tracker Omdia, Europe is the largest OLED TV market, making up more than 50 percent of global shipments. In the region, LG’s market share was a whopping 65.8 percent in the first half of this year, followed by Sony with 17 percent and Philips with 11
Sept. 4, 2022
-
Group files complaint against Starbucks Korea over giveaway bags containing toxic chemicals
A civic group filed a complaint against Starbucks Coffee Korea on Friday in connection with giveaway picnic bags found to contain toxic chemicals. The company came under fire in July after formaldehyde, a carcinogen, was detected in "summer carry bags," which it provided to customers who purchased 17 drinks between May and early July. A Seoul-based nonprofit organization, called the People's Livelihood Countermeasures Committee, said it reported Starbucks Korea CEO Song Ho-seop to
Sept. 2, 2022
-
New pension chief faces uphill battle over reform plan, record loss
A new chief took office Friday to lead South Korea’s pension fund, but his push to reform the country’s main retirement plan to avoid the depletion of its reserves by 2055 has gained little of the support it needs. Kim Tae-hyun, a former senior official at the top financial regulator who most recently served as president of Korea Deposit Insurance Corp., faced a delay in getting to work as the union physically blocked him from entering his office, saying Kim was a placeholder underq
Sept. 2, 2022