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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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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Liberal bloc moves to rewrite student rights ordinance
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S. Korea’s accumulative trade deficit hits 66-year high
SEJONG -- South Korea posted a trade deficit for the fourth consecutive month in the wake of a noteworthy decline in exports to China as well as the spiraling import prices of raw materials, with the cumulative deficit for the first seven months of the year hitting the highest in 66 years. In particular, the nation recorded all-time high imports in July due to a spike in energy prices, which has worsened the trade balance, state data showed Monday. According to the Ministry of Trade, Industry
Aug. 1, 2022
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Samsung publishes paper on artificial muscle actuators for VR devices
Samsung Electronics said Monday its joint research team with Ajou University published a paper last month on the wider adoption of artificial muscle actuators for wearables in Nature Communications, an online publisher affiliated with Nature, the science journal. The paper, titled “Actuating Compact Wearable Augmented Reality Devices by Multifunctional Artificial Muscle,” was recognized for expanding the use of artificial muscle actuators in robotics to the field of smaller wearabl
Aug. 1, 2022
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Hyundai Motor unveils smart city vision in Singapore
Hyundai Motor Group on Monday unveiled its vision for smart city at the World Cities Summit in Singapore, with an aim to offer a blueprint for smart mobility solutions that revitalize urban communities. During a panel discussion at the biannual summit, the automaker’s President and Chief Innovation Officer Chi Young-cho offered a detailed look into the company’s vision for human-focused city design through its HMG Smart City concept. The company first unveiled such vision for
Aug. 1, 2022
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LG Chem looks to begin final stage of clinical trials for gout drug with FDA
LG Chem has applied for phase 3 clinical trials of its gout treatment candidate Tigulixostat with the US Food and Drug Administration, the South Korean company said Monday. If the application gets the go-ahead sign from the FDA, it will mark the first time for LG Chem to carry out phase 3 clinical trials of its self-developed new drug candidate globally including in the US, according to the company. Gout is a painful form of arthritis that is characterized by sudden, severe attacks of pain, sw
Aug. 1, 2022
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SK Bioscience eyes Europe as market for COVID-19 vaccine
SK Bioscience has submitted the application for conditional approval of the COVID-19 vaccine SKY Covione with the European Medicines Agency in efforts to expand its presence in the global market, the South Korean vaccine developer said Monday. Beginning with the European region, SK Bioscience said it will look to showcase the South Korean COVID-19 vaccine on the global stage as the size of the coronavirus vaccine market grows rapidly. South Korea’s Ministry of Food and Drug Ministry gav
Aug. 1, 2022
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SK hynix to mass-produce CXL memory chips from 2023
South Korean memory chip maker SK hynix said Monday it has sampled the first memory product under the compute express link memory interface, a concept considered a game-changer in the electronics industry that is facing memory storage bottleneck. The announcement heralds SK hynix‘s long-awaited move to enter the market and roll out expandable CXL memory products for servers by 2023, according to the world’s second-largest DRAM chip maker. CXL is a newly-emerging semiconductor stand
Aug. 1, 2022
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SK Geo Centric, Tokuyama to build plant for wafer washing agent
South Korean petrochemical firm SK Geo Centric has started construction on a facility to produce semiconductor wafer surface washing material with Tokyo-based chemical firm Tokuyama in Ulsan, a city some 300 kilometers southeast of Seoul, the company announced Monday. SK Geo Centric aims to produce some 30,000 tons of semiconductor-grade high-purity isopropyl alcohol each year through a 50:50 joint venture with Tokuyama called Stac beginning in 2024. Isopropyl alcohol is the material used to c
Aug. 1, 2022
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Starbucks tops most preferred coffee chain in S. Korea: survey
Starbucks topped the list of the most preferred specialty coffee chains in South Korea, according to a recent survey published by the Korea Consumer Agency on Monday. In the survey, conducted between April 7 and 15, a total of 1,400 adults were requested to rate seven coffeehouses based on consumer satisfaction and frequency of use. Starbucks scored the highest at 3.99 points out of the total 5, followed by The Coffee Bean & Tea Leaf with 3.93 points and Hollys Coffee with 3.92 points.
Aug. 1, 2022
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F&F Q2 net income up 118% to W69.2b
F&F Co. on Monday reported its second-quarter net income of 69.2 billion won ($53 million), up 118 percent from a year earlier. The company said in a regulatory filing that it posted 95 billion won in operating profit for the quarter, compared with 43.2 billion won a year ago. Sales rose 88.4 percent to 371.4 billion won. The operating profit was 9.2 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of
Aug. 1, 2022
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Pan Ocean Q2 net profit up 146.8% to W224.8b
Pan Ocean Co., South Korea's leading bulk carrier, said Monday its second-quarter net profit rose nearly 2.5-fold from a year earlier on high freight rates. Net profit came to 224.8 billion won ($172.2 million) in the April-June period, up 146.8 percent from a year earlier, the shipper said in a regulatory filing. Sales jumped 52.4 percent on-year to 1.72 trillion won, with operating profit spiking 113.2 percent to 238.8 billion won. Pan Ocean's second-quarter earnings well exceeded ma
Aug. 1, 2022
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BOK sees small incremental rate increases as 'appropriate'
South Korea's central bank said Monday it is "appropriate" to raise its key interest rate in small increments going forward as long as inflation and growth trends do not deviate much from the expected paths. The Bank of Korea (BOK) provided the broad guidance on the future trajectory of monetary policy in a report to the National Assembly after it delivered an unprecedented 0.5 percentage-point rate increase last month to rein in surging inflation. It was the sixth rate hike since
Aug. 1, 2022
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[Graphic News] Vehicle registrations rise 0.6% in Q2 despite chip shortage
The number of registered vehicles in South Korea rose 0.6 percent in the second quarter to over 25 million, with that of eco-friendly cars exceeding 1.36 million units, government data showed. Car registrations came to 25.22 million units as of end-June, up from 25.07 million units a quarter earlier despite a global chip shortage, the Ministry of Land, Infrastructure and Transport said in a statement. Global carmakers have been struggling with the lack of semiconductor parts since late 202
Aug. 1, 2022
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Seoul shares open lower as tech stocks decline
South Korean shares opened lower Monday on a decline in major tech stocks amid global recession woes. The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.14 points, or 0.33 percent, to trade at 2,443.36 points in the first 15 minutes of trading. Eyes are on whether the Federal Reserve will become less aggressive in raising rates following an aggressive 0.75-percentage point hike in the benchmark interest rates. Institutions and foreigners sold a combined 132 billion won worth of stock
Aug. 1, 2022
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SK, Tokuyama start off construction for semiconductor cleaning agent plant in S. Korea
SK Geocentric Co., a chemical unit of South Korea's SK Group, said Monday the construction began for the joint factory with Japan's Tokuyama Corp. to produce a high-purity cleaning agent for semiconductors. SK Geocentric CEO Na Kyung-soo, Hiroshi Yokota, president of Tokuyama, and other officials attended the groundbreaking ceremony that took place in the South Korean industrial city of Ulsan, about 400 kilometers southeast of Seoul, where SK runs its key chemical manufacturing complex
Aug. 1, 2022
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Exports up 9.4% in July; trade deficit extended for 4th month
South Korea suffered a trade deficit for the fourth consecutive month in July over high global energy prices, though its exports rose 9.4 percent on-year on solid demand for chips, data showed Monday. Outbound shipments stood at $60.7 billion last month, up from $55.5 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. It is the highest tally for any July since 1956, when the ministry began compiling related data. The previous record was set a ye
Aug. 1, 2022
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FTC puts off plan to hold foreign CEO more responsible
South Korea’s antitrust regulator has decided to put a brake on its plan to hold foreign business leaders of large corporations here amid looming concerns it could trigger a trade dispute with the US. According to multiple sources at the government and local reports, the Fair Trade Commission has canceled its plan to make a preliminary announcement next week on the revision of the enforcement decree of the monopoly regulation and fair trade act that aimed at designating foreigners as the
July 31, 2022
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[Market Eye] Will Samsung make cars again?
“Will Samsung make cars again?” is a decades-old question that has dogged the tech giant since it sold off its automotive business to France’s Renault Group during the Asian financial crisis in the late 1990s. Samsung has seen success in almost every sector it set sights on, but making and selling its own brand cars has remained a rare failure for the nation’s largest conglomerate. Despite repeated denials by the top brass, speculation has resurfaced about Samsun
July 31, 2022
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GS Entec enters offshore wind power business
GS Entec -- South Korean equipment and facilities manufacturer of chemical and energy plants -- has signed a strategic partnership with Sif Netherlands BV to enter the offshore wind power business, the company said Sunday. GS Entec will introduce the Dutch firm’s monopile manufacturing technology under the partnership, according to the company. A monopile is a steel tube foundation that serves as a supporting pillar in the water. Monopiles are most commonly used for offshore wind turbi
July 31, 2022
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Over 1% of cars in S. Korea are EVs: report
The accumulated number of electric vehicles in South Korea appears to have surpassed the 300,000-mark in July, taking 1.2 percent of the total number of registered vehicles in country, according to a report published by the Transport Ministry on Sunday. The report said South Korea had 298,633 EV registrations as of June. Industry insiders expect this number to have exceeded 300,000 last month. Nearly 70,000 EVs were sold in just the first half of this year, a 73.5 percent rise in sales compar
July 31, 2022
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Apartment transactions plunge in H1 on lending curbs, rate hikes
Apartment transactions in South Korea fell more than 50 percent on-year in the first half of 2022 due mainly to the government's tough lending curbs and rising interest rates, data showed Sunday. The number of apartments traded nationwide stood at 184,134 units in the January-June period, down 50.6 percent from a year earlier, according to the data by the Korea Real Estate Board. It is the lowest level since the agency began compiling the related data in 2006 and marked nearly a 60 percent
July 31, 2022