Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Medical standoff deepens as doctors reject new med school plan, talks
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[Herald Interview] Why Toss invited hackers to penetrate its system
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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Suspect in murder of girlfriend's mugshot, name made public
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S. Korea, US to initiate early defense cost-sharing talks this week
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Seoul shares open lower after rally
South Korean stocks started lower Monday as investors locked in profits following a surge the previous session. The benchmark Korea Composite Stock Price Index dropped 1.32 percent, or 34.56 points, to 2,580.75 in the first 15 minutes of trading. On Friday, the Kospi soared 2.87 percent on the back of a climb in autos and techs. Market bellwether Samsung Electronics sank 1.46 percent, and its consumer electronics rival LG Electronics declined 0.51 percent. Bio shares also traded weaker, with Sam
Feb. 5, 2024
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Court set to rule on Samsung chief in controversial 2015 merger case
A Seoul court is set to deliver its ruling on Samsung Electronics Co. Chairman Lee Jae-yong on Monday on charges of stock price rigging and accounting fraud connected to the controversial 2015 merger of two Samsung affiliates. The Seoul Central District Court is scheduled to hold a sentencing hearing at 2 p.m. on Lee, three years and five months after the Samsung chief was indicted in connection with the merger of Cheil Industries Inc. and Samsung C&T Corp. Lee was charged with stock price r
Feb. 5, 2024
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HD Korea Shipbuilding attains one-third of yearly order goal
HD Korea Shipbuilding & Offshore Engineering Co., the world's top shipyard, has already achieved nearly one-third of its yearly order target on brisk demand for green vessels, industry sources said Monday. So far this year, the shipbuilder has clinched $4.65 billion worth of orders to construct 38 ships, or 34.4 percent of its yearly target of $13.5 billion, according to the sources. In light of the faster-than-expected pace, HD Korea Shipbuilding, a subholding company of shipbuilding,
Feb. 5, 2024
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Analysts upbeat on Kakao; battery sector outlook gloomy
Despite lingering management risks, tech giant Kakao may see a surprise increase in its stock price this year, with analysts bullish on its advertising and commerce businesses. According to market intelligence firm FnGuide, Kakao's target price, provided by more than three analysts, was 69,458 won ($51.90) as of Sunday, up 10.6 percent from 62,783 won recorded at the end of last year, marking the highest increase rate among the target prices of the top 20 firms listed on the Korean stock ma
Feb. 4, 2024
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Korean dietary supplements makers eye Chinese market
South Korean dietary supplements manufacturers are accelerating their entries into the growing Chinese market as the number of elderly people continues to increase in the country, according to industry sources on Sunday. On the back of an aging population, the Chinese dietary supplements market grew 3 percent on-year to reach around 73 trillion won ($54.5 billion) in 2022, according to a report released by the Korea Trade-Investment Promotion Agency. Among Korean companies, Korea Ginseng Corp.,
Feb. 4, 2024
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GM Korea unveils 2024 roadmap with four new vehicles
General Motors will release four new vehicles in South Korea this year including two electric vehicles as the global automaker looks to expand its presence in the local market, GM's Korean office said Friday. "We plan to strengthen GM’s presence in the fiercely competitive domestic market and meet the needs of those seeking the unique American product experience and new lifestyle that only GM can provide by expanding our comprehensive range of products," said Hector Villarre
Feb. 4, 2024
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AREX offers transit pass for international arrivials online
The Airport Railroad Express Train said Sunday that it has started online sales of a transit pass for public transportation to enhance the convenience of transfers at Seoul Station for international arrivals. Previously, passengers on the train operator’s airport express train -- which runs nonstop from Incheon International Airport Terminals 1 and 2 to Seoul Station -- had to disembark, leave the platform and purchase a transit card to use buses or subway trains. The online sale initiativ
Feb. 4, 2024
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[KH Explains] US Election: calm before the storm for Korean auto, battery makers
South Korean automakers and battery firms are closely monitoring this year's US presidential election and calmly bracing for negative impacts in the case of the Joe Biden administration’s Inflation Reduction Act possibly being repealed in a second Donald Trump term. The IRA, which is intended to boost American manufacturing and keep China in check, offers incentives to buyers of electric vehicles with certain battery parts and materials secured from US soil or via international partne
Feb. 4, 2024
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[Photo News] Hanwha in Saudi
Hanwha Group's defense affiliates -- Hanwha Aerospace, Hanwha Systems and Hanwha Ocean -- are showcasing their latest weapons systems at the World Defense Show 2024 held in Riyadh, Saudi Arabia, from Sunday to Thursday. Displaying the defense solutions covering the air, land and ocean such as an advanced engine for a fighter jet, K9 howitzer and submarine technology, Hanwha said it will look to explore partnerships in the Middle East. (Hanwha Aerospace)
Feb. 4, 2024
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Court to rule on Samsung chief's alleged 2015 merger fraud
A Seoul district court is set to deliver a decisive ruling on Monday for Samsung Electronics Chairman Lee Jae-yong over the 2015 merger fraud case, under which he could face a prison term. The Seoul Central District Court will issue its decision on Lee, along with 14 current and former employees of Samsung, on charges of rigging company valuations and accounting fraud connected to the controversial 2015 merger of two Samsung affiliates -- Cheil Industries and Samsung C&T Corp. The final ruli
Feb. 4, 2024
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[Photo News] IBK chairman starts second year at helm
Industrial Bank of Korea Chairman and CEO Kim Sung-tae convened a meeting with top executives from the bank's subsidiaries and branches at the IBK training center in Chungju, North Chungcheong Province, on Friday, marking the start of his second year in office. Emphasizing the bank's pivotal role in "driving Korea's economic growth by leveraging policy financing for small and medium-sized enterprises," Kim underscored the importance of boosting support for small business
Feb. 4, 2024
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Posco International to invest W1tr in energy sector expansion
Posco International, the trading arm of Posco Group, is poised to invest 1 trillion won ($755 million) exclusively in the energy sector this year, paving the way to establish itself as a globally recognized eco-friendly conglomerate in its key business area. The company outlined its business plans Tuesday, emphasizing "global expansion" as its mantra for 2024 to strategically bolster its major business value chain. Specific plans include a threefold increase in natural gas production a
Feb. 2, 2024
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SPC Chairman Hur cleared of tax evasion charges
The Seoul Central District Court on Friday acquitted Hur Young-in, chairman of South Korea's largest bakery chain, SPC Group, of charges related to gift tax evasion through undervalued share transactions. Hur was accused of selling shares of Mildawon, the family-owned grain company, at below-market rates in December 2012 to avoid gift taxes. The shares sold for 255 won each, markedly lower than their 2011 appraised value of 1,180 won and their 2008 purchase price of 3,038 won. Prosecutors c
Feb. 2, 2024
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Merck to pour capital into Korea's AI chip industry
Merck, the science and technology juggernaut based in Germany, will continue to put capital into Korea in line with the growth of the country's semiconductors industry while expanding cooperation with key clients and the world's two largest memory chip producers, Samsung Electronics and SK hynix. The German firm is seeking to leverage its capabilities to supply materials and equipment needed for chip manufacturing as its Korean clients increase their investments into artificial intelli
Feb. 2, 2024
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Hahn & Co. completes aquisition of SKC’s fine ceramics biz for W360b
Hahn & Co., the nation's largest private equity firm based on assets under management, announced Friday that it has acquired 100 percent stake in SKC's fine ceramics business for 360 billion won ($270 million). SKC operates as the semiconductor material arm under SK Group, the country's second-largest conglomerate. The acquisition comes three months after the contract was signed in late October. Under Hahn & Co.’s ownership, the company will operate with a new name
Feb. 2, 2024
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Naver to rev up generative AI services
After logging all-time high earnings last year, Naver CEO Choi Soo-yeon expressed her determination to strengthen the tech giant's core search platform and commerce services using generative artificial intelligence technology this year. "Based on AI and data, Naver will focus on enhancing competitiveness in key businesses, including search engines and commerce platforms," Choi said during the company’s earnings conference held on Friday. Choi expected that Cue, a generative
Feb. 2, 2024
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Toss kicks off IPO process, eyes 2025 listing
Viva Republica, the operator of financial technology app Toss, has kicked off procedures for an initial public offering, having selected lead underwriters. Securities firms estimate that the company's valuation could reach up to 20 trillion won ($15.1 billion). Viva Republica selected crosstown rivals in the local IPO market -- Korea Investment & Securities and Mirae Asset Securities -- as the lead underwriters, according to industry sources Friday. The securities firms have reportedly
Feb. 2, 2024
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Seoul shares spike nearly 3% on tech earnings
South Korean stocks rose by almost 3 percent Friday, backed by techs, autos and financials following solid earnings reports from US big techs. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index climbed 72.85 points, or 2.87 percent, to 2,615.31. Trade volume was high at 580 million shares worth 14.1 trillion won ($10.7 billion), with winners far outpacing losers 710 to 180. Foreign investors and institutions drove up the Kospi, buying shares worth 1.89 tri
Feb. 2, 2024
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Govt. to grow K-food industry to W300tr by 2027
The South Korean government aims to propel the K-food industry to reach 300 trillion won ($227 billion) worldwide by 2027, responding to the burgeoning global appetite for Korean cuisine. The vision was announced by the Ministry of Agriculture, Food and Rural Affairs, during an emergency economic ministers meeting Friday. The target signifies a doubling from the 2021 figure of 152 trillion won, with the number of overseas Korean restaurants set to increase to 15,000 globally, up from 9,923 in 20
Feb. 2, 2024
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Mastern to support local medical device maker expand US presence
Mastern America, the US subsidiary of local asset manager Mastern Investment Management, has joined hands with Hironic, a Korean medical device company, to expand its presence in the US market. Mastern America announced Friday that it has forged a four-party memorandum of understanding with Hironic, the city of Taylor, Texas, and the Taylor Economic Development Corp. A signing ceremony was held in Seoul on Wednesday, with Mastern America CEO Joseph Oh, Hironic CEO Lee Sang-won, Taylor Mayor Bran
Feb. 2, 2024