Most Popular
-
1
Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
-
2
Key suspects grilled over alleged abuse of power in Marine death inquiry
-
3
S. Korean children, teens grow taller, mature faster than before: study
-
4
Army takes group action against Hybe for neglecting BTS
-
5
Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
-
6
[Graphic News] Number of coffee franchises in S. Korea rises 13%
-
7
Some junior doctors are returning: Health Ministry
-
8
[Robert J. Fouser] AI changes rationale for learning languages
-
9
Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
-
10
Woman dangling from power lines rescued by residents holding blanket
-
Hyundai Glovis secures recycling technology for used batteries
Hyundai Glovis, a logistics affiliate of Hyundai Motor Group, said Monday that it has decided to invest in Korean battery recycling firm ER to take the lead in the global market as the worldwide demand for electric vehicles is expected to increase. According to the announcement, the two firms signed a share subscription agreement but did not disclose the investment amount or details of the contract. Hyundai Glovis has secured the rights to ER’s preprocessing technology and relevant facilit
Jan. 22, 2024
-
[Photo News] Citi-Kyung Hee sharing day
Citibank Korea CEO Yoo Myung-soon (11th from left, second row) and employees pose with some 65 students joining the 18th Citi-Kyung Hee University NGO Internship in Seoul on Friday. Since the internship’s launch in 2006, Citibank employees and student interns together have taken part in diverse activities to give back to society. This year, they made art supply kits consisting of brushes, paint and recycled canvases made from waste paper and cardboard to be used for art classes at local ch
Jan. 22, 2024
-
Korean EV, battery makers seek leniency on IRA rules
Hyundai Motor Group and Korean battery manufacturers called for leniency in the US electric vehicle tax credit rules blocking battery sourcing from foreign adversaries including China, according to the Federal Register. In public comments submitted to the open-access website for US federal government documents on Thursday, Hyundai said, “It is unlikely that other countries will be able to replace China in the short term,” underscoring the global market’s dependence on the No. 1
Jan. 22, 2024
-
Korea's global bond index inclusion likely this year: Standard Chartered
South Korea’s sovereign bond market is likely to be included among the top grade of global market indices, as abating inflation revives investors’ appetite for government bonds, according to economists from Standard Chartered Group on Friday. At the 2024 Global Research Briefing conference hosted by the Korean unit in Seoul, Arup Ghosh, Standard Chartered Bank's co-head of Asia rates research, predicted that Korean treasury bonds will take a positive turn this year due to the tr
Jan. 22, 2024
-
Corning glass-backed Galaxy S24 boasts enhanced durability
SAN JOSE, California -- Samsung Electronics' Galaxy S24 Ultra can withstand a drop on a concrete surface thanks to an exclusive high-strength glass known as Corning Gorilla Armor, which was developed with Corning for greater durability and visual clarity, according to the global glass maker. With live demonstrations of the new screen glass, John Bayne, the senior vice president and general manager in charge of mobile consumer electronics at Corning, presented the Corning Gorilla Armor, whic
Jan. 22, 2024
-
IFC Mall sales soar to record, benefiting from rival's success
The IFC Mall, a shopping complex in Seoul’s financial district of Yeouido, is enjoying a sales boom, benefiting from a surge in visitors following the high-profile opening of a new neighbor – The Hyundai Seoul, the nation’s largest department store. According to the mall on Monday, sales and visitors increased 10 percent and 8 percent, respectively, last year compared to 2022, when the mall saw a 60 percent jump in on-year sales. Sales also surged to a record high but the exact
Jan. 22, 2024
-
Mirae Asset's Canadian ETF unit surpasses W30tr in AUM
Mirae Asset Global Investments' Canadian subsidiary Horizons ETFs saw its assets under management surpass 30 trillion won ($22.8 billion) this month, marking ninefold growth in over 10 years. Horizons ETFs has become the fourth-largest ETF operator in Canada with its AUM standing at $22.8 billion as of Jan. 10, from $2.2 billion when Mirae Asset Global Investments had acquired the unit in 2011, according to the Korean firm on Friday. The latest figure translates to roughly $30 billion Can
Jan. 22, 2024
-
Seoul shares open slightly higher on tech gains
South Korean stocks opened slightly higher Monday on the back of gains from technology shares. The benchmark Korea Composite Stock Price Index rose 4.81 points, or 0.19 percent, to 2,477.55 in the first 15 minutes of trading. South Korea's top tech giant Samsung Electronics moved up 0.67 percent, and No. 2 chipmaker SK hynix gained 2.41 percent. Naver, which operates the country's top online portal, shot up 2.32 percent, with Kakao also advancing 1.74 percent. Pharmaceutical shares wer
Jan. 22, 2024
-
Exports fall 1% in Jan. 1-20 due to fewer working days
South Korea's exports fell 1 percent on-year in the first 20 days of January due to a smaller number of working days, data showed Monday. Outbound shipments reached $33.3 billion in the Jan. 1-20 period, compared with $33.6 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports fell 18.2 percent on-year to $35.9 billion during the period, resulting in a trade deficit of $2.6 billion. The number of working days came to 15.5 over the period, compared wit
Jan. 22, 2024
-
ELS crisis deepens as Hong Kong index sags further
Losses inflicted on Korean investors from derivatives tracking the Hang Seng China Enterprises Index are swelling even faster than expected, as the notorious Hong Kong index has dipped further recently. The HSCEI, which had remained at around 5,500 points since late 2023, has dropped dramatically in the last week or so, sinking by 11.12 percent just this year to close at around 5,127 on Friday. The plunge means a larger toll on investors here, as South Korea braces for the maturation of some 10.
Jan. 21, 2024
-
Hybrid operation key to Galaxy AI: Samsung AI chief
SAN JOSE, California – Artificial intelligence is everywhere, but it has only been in the past couple of years that people have been able to visualize what AI might be able to do for them, with the advent of ChatGPT. In its latest Galaxy S24 series, its first AI-powered smartphone, Samsung Electronics took it further to introduce AI features for everyday use, and made the complex process operate on-device via highly advanced optimization technology, the tech giant's AI chief said on T
Jan. 21, 2024
-
Korea's kimchi exports reach all-time high in 2023
South Korea's exports of kimchi products reached an all-time high in 2023 amid increasing interest in the country’s culture globally, data showed Sunday. According to the data compiled by the Korea Customs Service, outbound shipments of kimchi came to 44,041 tons, up 7.1 percent from the previous year’s 41,118 tons. The previous record was 42,544 tons set in 2021. In terms of value, exports of kimchi last year came to some $156 million, up 10.5 percent from $148 million tallied
Jan. 21, 2024
-
Asan Institute founder to attend Kissinger's memorial service in NY
Chung Mong-joon, the founder and honorary chairman of the Asan Institute of Policy Studies, will attend the late Henry Kissinger's memorial service, slated to be held in New York on Thursday, the South Korean think tank announced Sunday. "Dr. Kissinger’s scholarly and intellectual achievements have influenced how people around the world view the United States and our world order," said Chung in a statement. "We will always remember his wisdom and miss his insights as we
Jan. 21, 2024
-
Samyang Foods spices up Winter Youth Olympics
South Korean food manufacturer Samyang Foods announced its official sponsorship of the Gangwon 2024 Winter Youth Olympic Games, the quadrennial youth winter sports event which is being hosted by an Asian country for the first time this year. With 1,802 athletes representing 78 countries, the largest-ever Winter Youth Olympics kicked off Friday evening in Gangwon Province and is set to wrap up on Feb. 1. Standing at the forefront of the Korean wave, Samyang Foods aims to support the sports comp
Jan. 21, 2024
-
Hanlim partners with NBBJ to support Seoul’s urban innovation
Hanlim Architectural Group, an end-to-end real estate service company from South Korea, has partnered with American architectural firm NBBJ to foster international growth and support Seoul's urban innovation initiatives. The partnership was formalized at NBBJ's Los Angeles office on Jan. 15, amid the presence of Hanlim Architectural Group Chairman Park Jin-sun, NBBJ CEO Robert Mankin, Design Leader Pascal Suh and Real Estate Strategist Rick Pauios. Representing the global design initia
Jan. 19, 2024
-
Seoul shares soar over 1.3% on chip rally
South Korean stocks soared more than 1.3 percent Friday as big-cap chip shares rallied following an overnight tech boost on Wall Street. The local currency edged up against the US dollar. The benchmark Korea Composite Stock Price Index jumped 32.70 points, or 1.34 percent, to 2,472.74. Trading volume was slim at 499.2 million shares worth 9 trillion won ($6.7 billion), with winners outpacing losers 518 to 345. Foreigners turned to net buyers with a net purchase of 683.2 billion won worth of shar
Jan. 19, 2024
-
1 in 3 new import cars priced over W100m
Nearly 1 in 3 import cars sold last year was priced at 100 million won ($75,000) or over, with their sales hitting a record high despite a slight downturn in the import car market overall. According to the Korea Automobile Importers & Distributors Association on Friday, 78,208 vehicles priced at over 100 million won were sold here last year, an 8.8 percent jump from a year prior. During the same period, the overall import car market suffered a 4.4 percent drop, selling 271,344 vehicles all t
Jan. 19, 2024
-
LG Innotek to suspend production at Pyeongtaek motor plant
LG Innotek, the electronic component manufacturing unit of LG Group, will suspend the production of its vehicle motor plant in Pyeongtaek, Gyeonggi Province, later this year to relocate facilities to other sites at home and abroad, according to industry sources Friday. With the planned relocation, the company is expected to streamline operations and improve profitability. The facilities are likely to be transferred to the company’s other motor plants in Gwangju, China, Mexico and Poland. T
Jan. 19, 2024
-
Mercedes-Benz debuts new E-Class, taking cue from Korean drivers
Mercedes-Benz said Friday it is poised to roll out nine new cars in Korea this year, highlighting the strategic importance of the Korean market for the German luxury carmaker. The new lineups include five full-change models – the E-Class sedan, CLE Coupé, CLE Cabriolet, Mercedes-Maybach EQS SUV and electric G-Class – and four face-lift models – the Mercedes-Benz GLS, EQA, EQB and G-Class. One of the key launches is the 11th-generation E-Class sedan, a complete revamp fro
Jan. 19, 2024
-
K bank resumes IPO process, eyes 2024 listing
The internet-only K bank said Friday that it is pushing for an initial public offering this year following a failed attempt last year. “The IPO will be an opportunity for K bank to take another big leap,” said CEO Choi Woo-hyung, who took the post on Jan. 1. “K bank will grow with all its members through thorough preparations.” K bank was launched in April 2017, becoming the nation’s first internet-only bank. As of 2023, it boasted 9.53 million users. After years
Jan. 19, 2024