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
-
Starbucks Reserve celebrates 10th anniversary in Korea
Starbucks Korea said Wednesday it has renovated an old house built in the 1960s to open a new Starbucks Reserve store in Jangchung-dong, Jung-gu, central Seoul, Thursday. Starbucks Korea has set up a few special stores where customers can have novel experiences in distinct settings. The new store in Jangchung-dong is the company’s 10th special store, marking the 10th anniversary of Starbucks Reserve. The store, which can accommodate up to 180 customers, utilizes the entire space of the ori
IndustrySept. 11, 2024
-
[Photo news] LG showcases energy innovations at RE+ 2024
LG Energy Solution highlighted its latest energy storage technologies at RE+ 2024, North America’s largest clean energy expo, held this week in Anaheim, California. Taking center stage was the JF2 AC/DC Link 5.1, a modular energy storage system with 21 percent improved energy density and a capacity of up to 5.1 megawatt-hours, targeted for US production in 2025. This system, optimized for commercial and grid-scale applications, was designed to simplify installation and improve efficiency.
IndustrySept. 11, 2024
-
Exports rise 24.6% during first 10 days of Sept. on strong chip sales
South Korea's exports rose 24.6 percent on-year in the first 10 days of May on robust global demand for semiconductors, data showed Wednesday. Outbound shipments reached $18.58 billion in the April 1-10 period, compared with $14.91 billion tallied a year earlier, according to the data from the Korea Customs Service. Per-day exports advanced 16.3 percent on-year to $2.48 billion. Imports added 11.3 percent on-year to $18.4 billion during the period, resulting in a trade surplus of $200 milli
EconomySept. 11, 2024
-
Job additions rise over 100,000 for 2nd straight month in Aug.
South Korea added more than 100,000 jobs for the second consecutive month in August, but jobs in the construction sector fell by the most ever amid an industry slowdown and extreme heat wave, data showed Wednesday. The number of employed people came to 28.80 million last month, up 123,000 from a year earlier, according to the data compiled by Statistics Korea. In July, the monthly job additions bounced back to over 100,000 for the first time in three months to come to 172,000. In June, 96,000 jo
EconomySept. 11, 2024
-
Seoul shares open lower ahead of US inflation data
South Korean stocks started a tad lower Wednesday as investors await the latest US inflation data that would give clues for the Federal Reserve's upcoming rate-setting decision. The benchmark Korea Composite Stock Price Index opened slightly higher but lost 0.13 percent, or 3.33 points, to 2,520.1 in the first 15 minutes of trading. On Wall Street, US stocks closed mixed amid rising slowdown concerns. The Dow Jones Industrial Average edged down 0.2 percent, and the Nasdaq composite rose 0.8
MarketSept. 11, 2024
-
Strike hits production at key Samsung electronics plant in India
SRIPERUMBUDUR (Reuters) -- Samsung Electronics' production at a plant in southern India was disrupted for a second day by hundreds of employees striking for higher wages on Tuesday, as top executives sought to resolve a rare episode of labour unrest. South Korea-based Samsung, India's biggest consumer electronics company, counts the country as a key growth market, competing with the likes of LG Electronics to make everything from televisions and refrigerators to smartphones. The strike
CompaniesSept. 10, 2024
-
Why does Apple have to pay Ireland $14.4 billion?
LONDON (Reuters) -- Apple lost a long-running court battle with the European Union on Tuesday, resulting in the company being forced to pay 13 billion euros ($14.4 billion) in back taxes to Ireland, as part of a wider crackdown on so-called "sweetheart deals." What happened? In 2016, the European Commission’s competition chief Margrethe Vestager accused Ireland of having granted Apple illegal tax benefits, unfairly diverting investment away from other countries. Both Apple and
TechnologySept. 10, 2024
-
SpaceX launches billionaire to conduct the first private spacewalk
CAPE CANAVERAL (AP) -- A daredevil billionaire rocketed back into orbit Tuesday, aiming to perform the first private spacewalk and venture farther than anyone since NASA's Apollo moonshots. Unlike his previous chartered flight, tech entrepreneur Jared Isaacman shared the cost with SpaceX this time around, which included developing and testing brand new spacesuits to see how they'll hold up in the harsh vacuum. If all goes as planned, it will be the first time private citizens conduct a
TechnologySept. 10, 2024
-
Tmon, WeMakePrice enter rehabilitation amid payment crisis
Cash-strapped e-commerce platforms Tmon and WeMakePrice have managed to avoid bankruptcy by commencing the corporate rehabilitation process, which will enable the two companies to restructure their debts to over 100,000 creditors under the oversight of court-appointed custodians. The Seoul Rehabilitation Court approved on Tuesday to initiate rehabilitation procedures for Tmon and WeMakePrice, which have recently been mired in controversy due to delayed payments, stemming from a liquidity crisis
IndustrySept. 10, 2024
-
EcoPro founder returns to work, tasked with surviving EV chasm
EcoPro’s former Chairman Lee Dong-chae has returned to management after a yearlong hiatus, at a critical time when the battery materials maker and the entire EV industry are reeling from slowing demand. According to the company on Tuesday, Lee was recently named an executive adviser on the board following a presidential pardon granted last month. He had been serving prison time for insider trading since May last year. It remains to be seen when Lee could be reinstated as chairman, but expe
IndustrySept. 10, 2024
-
Samsung-Apple rivalry renewed as first AI iPhone debuts
Apple has launched the first generation of its artificial intelligence-focused smartphone series, the new iPhone 16 and iPhone 16 Pro, which are highly anticipated to go up against its rival Samsung Electronics' Galaxy S24, touted as the "world's first AI smartphone." To the disappointment of users in South Korea and countries outside the US, however, Apple is expected to introduce the full and multilingual version of its much-hyped Apple Intelligence next year. “The ne
IndustrySept. 10, 2024
-
[Photo news] Mercedes-Benz trains next auto experts
Mercedes-Benz Korea said Tuesday that it has launched its 17th Automotive Electric Traineeship and 8th Ausbildung Program. The AET program focuses on college students, while Ausbildung targets vocational high school students, offering hands-on experience in Mercedes-Benz dealerships. Both programs emphasize electric vehicle technology, preparing participants for the future of the automotive industry. Upon completion, trainees receive certifications recognized globally. Since their inception, the
IndustrySept. 10, 2024
-
Seoul shares dip for 6th session ahead of key US inflation data
South Korean shares extended their losing streak to six sessions Tuesday as investors took a cautious approach ahead of key US inflation data that would affect the upcoming rate-setting meeting. The local currency traded lower against the US greenback. The benchmark Korea Composite Stock Price Index lost 12.5 points, or 0.49 percent, to close at 2,523.43. The main index has continued its bearish mode since Sept. 3. Trading volume was light at 341.2 million shares worth 8.3 trillion won ($6.2 bil
MarketSept. 10, 2024
-
Korean asset managers vie to ride Indian wave
South Korean asset managers are eagerly introducing diverse fund products tracking the Indian stock market, seeking lucrative opportunities in its strong growth. Korea Investment Management, a big-name asset manager here, listed two active funds tracking India-domiciled companies Tuesday, the ACE India Consumer Power Active ETF and ACE India Market Representative Big5 Group Active ETF. According to the firm, Korea Investment Management is the first company in Asia to launch an actively managed f
MarketSept. 10, 2024
-
[2024 IFA] Samsung to bolster B2B AI services
BERLIN -- Samsung Electronics has unveiled its vision to expand its AI presence from mobile devices and home appliances to residential and commercial buildings. Under the vision “AI for all,” the tech giant said it will launch diverse AI-based services for business-to-business areas, including "AI apartment," "AI office," "AI store" and "AI stay," taking advantage of its leadership in AI-powered home appliances. AI apartment, for instance, allo
IndustrySept. 10, 2024
-
Hanwha, SK develop world’s 1st non-flammable ESS for ships
Hanwha Aerospace and SK Enmove announced Tuesday that they have developed the world’s first non-flammable energy storage system, or ESS, seeking to secure the lead in the eco-friendly maritime solution sector. The two companies under two of Korea’s largest conglomerates -- Hanwha Group and SK Group -- showcased the liquid immersion cooling ESS technology and how it fills up a lithium-ion battery module with thermal fluids to reduce the chances of a fire to zero. “Safety is a pr
TechnologySept. 10, 2024
-
Samsung SDI to sell polarizing film biz to China’s Wuxi for W1.1tr
Samsung SDI has decided to sell its polarizing film business to China’s Wuxi Hengxin Optoelectronic Materials for 1.12 trillion won ($833.3 million) as the company aims to focus on honing the competitiveness of its electronic materials unit, the Korean battery maker said Tuesday. Polarizing films, optical films that allow displays to show an image by controlling the amount of light, affect the image quality of the screen. According to the company’s regulatory filing, Samsung SDI&rsqu
CompaniesSept. 10, 2024
-
Minister pushes for inheritance tax overhaul
The South Korean government is stepping up efforts to overhaul its inheritance tax system next year, with the Finance Ministry preparing a bill to tax the inheritors instead of the estate that is being inherited. "To enhance fairness and ensure consistency in taxation, as well as align with global trends, the government plans to shift to an inheritance acquisition tax system," Finance Minister and Deputy Prime Minister Choi Sang-mok said Monday in a meeting with journalists at the gove
EconomySept. 10, 2024
-
Hyundai-Kia EV powertrains named in best engines of 2024
Hyundai-Kia’s electric powertrains, featured in the Hyundai Ioniq 5 N and Kia EV9 GT-Line, have been recognized by US automotive publication WardsAuto as two of the 10 Best Engines & Propulsion Systems for 2024. This also is the third straight year that Hyundai Motor Group’s E-GMP electric vehicle platform, has earned this prestigious recognition. WardsAuto has been holding automotive powertrain awards since 1995. Expanded in 2019 to include electric propulsion systems, the award
MobilitySept. 10, 2024
-
HMM to bolster global alliance, invest W23tr by 2030
South Korea’s leading container shipper HMM said Tuesday it has created a five-year cooperative body, dubbed Premier Alliance, together with two global partners Japan’s ONE and Taiwan’s Yang Ming, to further expand its vessel route network. Separate from the new alliance, the firm has also signed an agreement with MSC, the world’s top shipper based in Switzerland, to share freight space on Northern European and Mediterranean routes for four years, the company added. Wit
IndustrySept. 10, 2024