Most Popular
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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[Graphic News] Number of coffee franchises in S. Korea rises 13%
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S. Korean children, teens grow taller, mature faster than before: study
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Some junior doctors are returning: Health Ministry
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Army takes group action against Hybe for neglecting BTS
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[Robert J. Fouser] AI changes rationale for learning languages
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Woman dangling from power lines rescued by residents holding blanket
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Naver Q1 net income soars 1,171.9% on growth of major businesses
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Posco Future M seeks more regulatory support
Kim Jun-hyung, CEO of Korean battery materials manufacturer Posco Future M, urged the Ministry of Environment to reinforce measures to boost the rechargeable battery industry, according to the company on Monday. Kim met with Lim Sang-jun, deputy minister at the Environment Ministry, who visited the company’s artificial graphite anode materials manufacturing plant in Pohang, North Gyeongsang Province, earlier in the day. Posco Future M shared its achievements in the cathode and anode materi
Jan. 29, 2024
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Hyundai Mobis secures $9.2b in overseas orders in 2023
Hyundai Mobis secured a record high of global orders totaling $9.2 billion last year on the back of the worldwide automation trend in the car sector, the South Korean auto parts manufacturer under Hyundai Motor Group said Monday. Noting that the overseas orders significantly exceeded the originally set target of $5.6 billion, Hyundai Mobis highlighted that the new record was achieved through key parts orders signed with global automakers excluding the two Korean carmakers, Hyundai Motor Company
Jan. 29, 2024
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Korea's exports of processed rice products reach all-time high
South Korea’s exports of processed rice products reached an all-time high in 2023 amid growing global demand for convenient food options, according to government data and industry sources, Monday. Data from the Korea Agro-Fisheries & Food Trade Corp. revealed that outbound shipments of processed rice products -- including instant rice, frozen gimbap and tteokbokki (spicy rice cakes) -- amounted to $217.2 million in 2023. The latest figure represents a 19.5 percent increase from $181.8
Jan. 29, 2024
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[Herald Interview] BridgeRock offers strategic solutions for real estate loan workouts
Once deemed an investment that produced a stable income stream, office buildings in the US are causing a headache for Korean investors as they wrestle with defaults on loans amid weakening demand and increased interest rates. With their investments turning sour, investors should come up with “creative ways to handle defaulted loans to draw a path to recovery," US commercial real estate investment firm BridgeRock Capital’s founder and managing director Jin Kim said. “Kore
Jan. 29, 2024
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S. Korea's export-import cargo gains 1% in 2023 on exports recovery
Cargo processed at South Korean seaports for exports and imports rose 1 percent on-year in 2023 amid signs of a recovery in the country's exports, the oceans ministry said Monday. Export-import cargo handled at the ports nationwide came to 1.32 billion tons last year, compared with 1.31 billion tons a year earlier, according to the Ministry of Oceans and Fisheries. The overall cargo handled at the domestic ports, however, inched down 0.04 percent on-year to 1.55 billion tons in 2023. Of the
Jan. 29, 2024
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Seoul shares open higher on tech, bio gains
Seoul shares opened higher Monday as institutions and foreign investors scooped up tech, bio and other blue chips. The benchmark Korea Composite Stock Price Index climbed 0.49 percent, or 12.11 points, to 2,490.67 in the first 15 minutes of trading. Market bellwether Samsung Electronics gained 0.41 percent, and its consumer electronics rival LG Electronics rose 1.07 percent. Bio shares also traded higher, with Samsung Biologics soaring 5.30 percent and Celltrion advancing 2.41 percent. Auto and
Jan. 29, 2024
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Porsche vows to bring out best of ASEAN market
SINGAPORE -- Porsche has underscored its drive to put a great emphasis on the Southeast Asian region, as the German automaker vowed to find ways to offer various Porsche experiences for the Association of Southeast Asian Nations. “Our business is based on four pillars and (they are) Europe, North America, China and (what we call the) 'overseas region,' which is becoming more and more important,” said Matthias Becker, Porsche’s vice president of region overseas and eme
Jan. 28, 2024
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[Photo News] Coal for heat
Shinhan Financial Group Chairman Jin Ok-dong (center) and other company officials deliver coal briquettes to low-income households in Seodaemun-gu, northern Seoul, Thursday. The financial giant raised donations of 200 million won ($150,000), with some 150 million won coming from employees. The fund will be used to provide heat supplies through a local charity. (Shinhan Financial Group)
Jan. 28, 2024
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South Korean exports to China plunge to three-decade low
China’s imports of Korean goods plunged to the lowest level in three decades last year, amid the escalating Washington-Beijing rivalry and Seoul’s strategic pivot. According to data from the Korea International Trade Association on Sunday, South Korea accounted for 6.3 percent of China’s imports last year, down from 7.4 percent a year earlier. In 2022, Korea ranked second on China’s top importer list, following Taiwan. Last year, the country was outpaced by Taiwan and the
Jan. 28, 2024
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[Photo News] Record preorders
Customers line up to activate their preordered Galaxy S24 smartphones at Samsung Electronics’ flagship store in southern Seoul on Friday. The latest smartphone scored record preorders in Korea, selling more than 1.21 million units during the preorder period from Jan. 19-25. On Sunday, Samsung said it is extending the preactivation period to Feb. 8, due to an influx of customers. (Samsung Electronics)
Jan. 28, 2024
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[KH Explains] Will OpenAI, Korean chipmakers team up to take on Nvidia?
Sam Altman, the chief executive officer of OpenAI, visited Seoul last week to hold a series of meetings with top executives of Samsung Electronics and SK hynix, the world’s top two memory chipmakers, fueling speculation that the “father of ChatGPT” is in search of allies to take on Nvidia, the unrivaled market leader in chips for artificial intelligence. For Samsung and SK, being part of a possible alliance would provide a chance for them to step up their game in the heated com
Jan. 28, 2024
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OpenAI CEO Altman visits Korea for Samsung, SK Hynix meetings: reports
ChatGPT creator OpenAI's CEO, Sam Altman, has arrived in South Korea to meet with the leaders of chip giants Samsung Electronics and SK Hynix, reports said Friday. Samsung Electronics and SK Hynix are the world's two biggest memory chipmakers, and the latter this week said it had returned to profit after four consecutive quarters of losses driven by demand for chips used in artificial intelligence. The two South Korean chip giants are among the few companies worldwide that manufacture
Jan. 26, 2024
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BOK extends open market operations to non-banking entities
The South Korean central bank on Thursday said it will start to buy or sell securities with non-banking finance institutions in open markets, expanding the scope of entities subject to its key monetary policy instrument to control the money supply in the economy. With the latest change in the Bank of Korea's open market operations, local asset management firms, mutual savings banks and credit unions will now be eligible to engage in repurchase agreements (repos) for securities transaction
Jan. 26, 2024
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Genexine seeks approval for anemia treatment in Korea
Korean biotech firm Genexine announced Friday that the company has submitted a biologics license application to the country's Ministry of Food and Drug Safety for the company’s anemia treatment Efesa. Efesa is intended for the treatment and maintenance of anemia induced by chronic kidney disease with or without dialysis. The drug candidate uses GX-E4, a long-acting erythropoiesis stimulating agent. Genexine has used its own hyFc fusion protein technology to maximize the half-life of t
Jan. 26, 2024
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Lotte Duty Free, Modetour seek to capitalize on Vietnam's tourism boom
Lotte Duty Free said Friday that it signed a memorandum of understanding with the South Korean travel agency Modetour on Thursday to strengthen joint marketing efforts toward Korean tourists to Vietnam. Under the agreement, Lotte Duty Free and Modetour will work together to develop new product packages combining duty-free shopping and tourism in Vietnam. Lotte Duty Free has been grappling with the decline of Chinese tourists to South Korea due to an economic slowdown. As an alternative, the comp
Jan. 26, 2024
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NongHyup's new chief to push for major revamp
The National Agricultural Cooperative Federation on Thursday elected Kang Ho-dong as the 25th NongHyup chairman, marking the first time in 17 years for the cooperative to have a directly elected chairman at its helm. The federation, South Korea's biggest agricultural cooperative comprised of 2 million members, is expected to see a significant reshuffling of the federation's governance structure under the new leadership. The former head of the Yulgok Nonghyup chapter in Hapcheon-gun, So
Jan. 26, 2024
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Hyundai Mobis logs 14% sales growth in 2023
Hyundai Mobis, an auto parts manufacturing unit under Hyundai Motor Group, said Friday its revenue surged over 14 percent last year to nearly 60 trillion won ($44.9 billion). The company posted an annual revenue of 59.25 trillion won in 2023, breaking the record of 51.9 trillion won it set the year before. Its operating profit came to 2.29 trillion won, a 13.3 percent increase over the same period. The stellar performance comes after an increase in the supply of electric car parts, following a b
Jan. 26, 2024
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Orion promotes locally-source food in Vietnam
Orion, a South Korean confectionery manufacturer, said Friday that it has teamed up with Vietnam National University of Agriculture in a bid to secure quality raw materials for its snack production in Vietnam. Orion Food Vina, the confectioner’s Vietnamese unit, and the Institute of Argo-Biology under the VNUA signed a strategic partnership agreement on Thursday in Hanoi, stipulating their cooperation in production, development, supply and quality control of seed and raw potatoes over the
Jan. 26, 2024
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LG Energy Solution hits record earnings on upbeat US sales
Despite the slowdown of electric vehicle sales, LG Energy Solution broke the record in earnings last year, largely driven by a boost in sales in the all-important US market. In its earnings report released Friday, the battery maker said its annual revenue surged by 31.8 percent to 33.7 trillion won ($25.3 billion) while operating profit skyrocketed 78.2 percent to 2.2 trillion won -- both hitting all-time high figures. With robust sales in the US, some 677 billion won worth of tax credits were a
Jan. 26, 2024
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Seoul shares end higher on battery gains
Seoul shares closed higher Friday on battery gains amid a report that the US economy remains resilient. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 0.33 percent, or 8.22 points, to 2,478.56. The Kospi has risen 0.2 percent this week. Trading volume was slim at 285.54 million shares worth 7 trillion won ($5.2 billion), with gainers outpacing losers 549 to 312. Institutions and foreigners bought a combined 380 billion won worth of stocks, offsett
Jan. 26, 2024