Most Popular
-
1
'Keep IU off the grass': Soccer fans oppose K-pop concerts at World Cup Stadium
-
2
BTS, NewJeans fandoms clash over Hybe-Min Hee-jin conflict
-
3
N. Korea launches missiles in latest show of military, nuclear strength
-
4
North Korea sends top envoy to Russia as it girds for friction with Seoul
-
5
Seoul-bound traffic clogged on 4th day of Chuseok holiday
-
6
Kia makes breakthrough in China sales
-
7
High temperatures may worsen mental health conditions: study
-
8
[Special] Ansan aims to become South Korea's multicultural hub, heart of immigration policy
-
9
Samsung chief travels to France to encourage young talents
-
10
N. Korea fires multiple short-range ballistic missiles: JCS
-
SK Speedmate launches as rebranded auto repair firm
SK Speedmate, an automotive maintenance company, announced Sunday its official launch after spinning off from SK Networks to become a top automotive aftermarket service provider in Korea. SK Networks decided to spin off the Speedmate division as part of its push to transition to an AI-centric company. The automotive maintenance business has been rebranded as SK Speedmate, and is now a full-owned subsidiary under the rental firm. SK owns 43.9 percent of SK Networks. “Utilizing our strong br
IndustrySept. 1, 2024
-
[Photo News] Smart ambassadors boost Hana
Hana Financial Group on Friday concluded the 18th round of its Smart Ambassador program, a three-month initiative promoting its ESG, or environmental, social and governance activities. In the photo, Vice President Lee Eun-hyung (second row, center) poses with the student ambassadors during the closing ceremony at the company's headquarters in Myeong-dong, Seoul. Since June, 50 college students have engaged in various projects such as creating public relations content, visiting Hana affiliat
EconomySept. 1, 2024
-
S-Oil powers Korean Air flight with local eco-friendly fuel
S-Oil will begin supplying domestically produced sustainable aviation fuel to Korean Air’s flights between Incheon International Airport and Tokyo’s Haneda Airport once a week, the company said Sunday, becoming the first refiner in South Korea to provide SAF for regular international passenger flights departing from a local airport. The first SAF-fueled flight took off last Friday, celebrated at a ceremony attended by key figures such as Minister of Trade, Industry and Energy Ahn Duk
IndustrySept. 1, 2024
-
Banks tighten curbs on mortgage loans amid worries over rising home prices in Seoul
Banks in South Korea started tightening curbs on mortgage loans on Sunday, officials said, amid concerns over rising housing prices in Seoul and household debts. The move came as the Financial Services Commission asked banks to toughen screenings for new mortgage borrowers and to reduce the size of loans available under the tightened criteria. The stress debt service ratio (DSR), which measures how much a borrower has to pay for principal and interest in proportion to their yearly income, serves
EconomySept. 1, 2024
-
Exports of Hyundai, Kia hybrid vehicles jump 35.2%
Exports of hybrid cars by Hyundai Motor Co. and its affiliate Kia Corp. jumped 35.2 percent on-year in the first seven months of this year, industry data showed Sunday. Hyundai Motor and Kia exported a total of 222,818 hybrid vehicles between January and July, compared with 164,851 units for the same period last year, according to data from the Korea Automobile & Mobility Association. Hyundai Motor, in particular, saw its exports of hybrid vehicles soar 58.3 percent on-year to 141,032 units.
MobilitySept. 1, 2024
-
Exports rise for 11th straight month in August on strong chip demand
South Korea's exports extended their on-year gains for the 11th straight month in August, driven by strong demand for semiconductors, data showed Sunday. Outbound shipments rose 11.4 percent on-year to $57.9 billion last month, according to data compiled by the Ministry of Trade, Industry and Energy. Imports increased 6 percent on-year to $54 billion, resulting in a trade surplus of $3.83 billion. South Korea has maintained a trade surplus for 15 consecutive months. By sector, exports of ch
EconomySept. 1, 2024
-
Nearly 60% of major Korean companies have no immediate hiring plans in H2
Some 57.5 percent of major corporations in South Korea have either not set up plans to recruit new employees in the second half of this year or do not plan to hire at all, a survey showed Thursday. In a recent survey of the top 500 companies by sales, 40 percent said they do not yet have plans to hire college graduates while 17.5 percent said they are not looking for recruits. The poll was conducted on Aug. 5-19 by local pollster Research and Research, under the commission of the Federation of
EconomyAug. 31, 2024
-
HD Hyundai Oilbank ramps up R&D efforts for green growth
HD Hyundai Oilbank, one of the nation’s top refiners, is ramping up research and development efforts to spur growth as a sustainable energy company. Based on its business know-how accumulated in its core refinery and petrochemical businesses, the company is making a strategic shift to boost its new growth drivers, including eco-friendly chemicals, materials and energy infrastructure. Back in 2011, HD Hyundai Oilbank established a central technology institute by integrating R&D teams na
IndustryAug. 30, 2024
-
Seomjae joins MIT for AI-driven education collaboration
Seomjae Global, a South Korean company developing AI-powered education solutions, announced Friday that it has become the first Korean company to join the MIT Computer Science and Artificial Intelligence Laboratory Alliance. The official joining ceremony took place in Boston on Aug. 19, with Seomjae Global CEO Jason Shin and MIT CSAIL Director Glenn Wong in attendance. MIT CSAIL is the largest research laboratory at MIT and is recognized globally for its work in artificial intelligence and compu
CompaniesAug. 30, 2024
-
[Photo News] Incheon Airport takes off with green fuel
Incheon International Airport Corporation held a commemorative event Friday to mark the commencement of commercial operations of sustainable aviation fuel at its second passenger terminal. The event, attended by government officials, aviation industry leaders and representatives from oil refineries, was led by the Trade Ministry and Transport Ministry. Lee Hag-jae (right), president and CEO of Incheon International Airport Corp., emphasized the company's commitment to demonstrating "ec
IndustryAug. 30, 2024
-
Samsung-TSMC foundry rivalry renewed in German market
The top two global semiconductor foundries -- Samsung Electronics and Taiwan Semiconductor Manufacturing Co. -- are competing in the automotive semiconductor market in Germany, where major car manufacturers are located. Despite the recent contraction of the automotive semiconductor market due to a decline in demand for electric vehicles, the two companies’ efforts to prepare for future market demand seem actively underway. Samsung’s foundry division is set to hold a forum in Munich,
IndustryAug. 30, 2024
-
Hankook Tire makes cultural push to connect with younger customers
Hankook Tire has launched a series of cultural projects to connect with younger consumers and communicate the brand's value in a fresh way. This summer, the tire maker launched a 10-day pop-up event at Surfyy Beach in Yangyang, Gangwon Province, where visitors enjoyed tire-themed attractions like water activities with inflatable tubes as well as interactive photo zones and game areas. Hankook Tire also collaborated with brands like Pro-Specs to create unique products, including sneakers in
MobilityAug. 30, 2024
-
HDC stocks rally on credit rating upgrade, upbeat earnings
South Korean real estate developer and builder Hyundai Development Company said Friday that it has seen an almost 90 percent surge in its share prices on upbeat earnings and positive credit ratings this year. As of Aug. 26, the stock price closed at 26,700 won ($20), an 87.9 percent growth from the beginning of this year. During the same period, the benchmark Kospi fell 5.44 percent. Among the nation’s top 10 construction companies, the growth rate was the highest. Amid the recent rally of
IndustryAug. 30, 2024
-
HiteJinro sponsors leading UK music fest, boosts soju presence in Europe
South Korea's top soju maker HiteJinro is intensifying its efforts to penetrate the European market, where soju is rapidly gaining popularity and increasingly integrated into local cultural activities. The company announced on Friday that it served as an official sponsor for this year's All Points East, a prominent music festival in the UK held at London's Victoria Park, from Aug. 16 to 25. First held in 2018, APE features world-class musicians and attracts over 200,000 attendees
IndustryAug. 30, 2024
-
Mercedes-Benz Korea to lend free E-Class sedans for Incheon fire victims
Mercedes-Benz Korea will loan new E-Class sedans free of charge to residents of the apartment complex in Cheongna, Incheon, who lost their vehicles in an electric vehicle fire on Aug. 1. The fire, which occurred in the underground parking lot of the complex, destroyed approximately 70 vehicles. Mercedes-Benz Korea communicated details of the support program through the management office of the Cheongna apartment complex on Thursday. The company will provide one vehicle per affected household, sp
MobilityAug. 30, 2024
-
Seoul shares close higher on bargain hunting
South Korean shares finished higher Friday as investors picked up tech, energy and other blue chip bargains following losses the previous session. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index gained 12.03 points, or 0.45 percent, to close at 2,674.31. Trade volume was moderate at 266.9 million shares worth 9.71 trillion won ($7.27 billion), with winners outnumbering losers 580 to 292. Institutions bought a net 47.8 billion won worth of shares, wh
MarketAug. 30, 2024
-
KFCC puts aside W1.4tr for risk management in H1
The Korean Federation of Community Credit Cooperatives, the nation's primary mutual financial institution, also known as Saemaul Geumgo, announced Friday it has set aside 1.4 trillion won ($1.05 billion) in reserve in the first half of 2024 to ensure the financial stability of the credit union. The allowance for bad debts, also called a bad debt reserve, is a provision made in a company’s accounts in recognition of debts that cannot be collected. Allocating the reserve leads to a loss
IndustryAug. 30, 2024
-
[Test Drive] Renault’s Grand Koleos delivers loaded tech at value-packed price
Renault Korea has been in a slump, with sales in Korea nosediving from nearly 100,000 units in 2020 to just 22,000 last year. Now, the company is pinning its hopes on the Grand Koleos, a new mid-size hybrid sport utility vehicle, to spark a comeback. With its debut marking Renault Korea’s most ambitious launch in four years, the big question is: Does the Grand Koleos have what it takes to turn things around? The Korea Herald reporter took it for a spin on a test drive in Busan last Tuesday
MobilityAug. 30, 2024
-
[Photo News] Hanjin's 'Dook'n Dook'n' brings Hallyu to Vietnam
To boost the global competitiveness of Korea's small business owners, the Small Enterprise & Market Service, the Korea Commission for Corporate Partnership and Hanjin Logistics held a launch ceremony on Thursday for Dook'n Dook'n, an offline store in Hanoi, Vietnam, showcasing Hallyu products. The event was attended by Oh Young-joo (center left), minister of SMEs and startups, SEMAS Chairman Park Sung-hyo (center right), Emily Cho (third from right), president of Hanjin Logist
IndustryAug. 30, 2024
-
Nokia denies report about mobile unit sales talks with Samsung
Finnish telecom equipment maker Nokia on Friday denied a report that it is in talks with Samsung Electronics or any other potential bidders to sell its mobile network business. “Nokia has nothing to announce in relation to the speculations published in an article today, and no related insider project exists,” the company said in a statement, referring to a Bloomberg report earlier in the day. “Nokia is committed to the success of its mobile networks business, a highly strategic
IndustryAug. 30, 2024