Most Popular
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Anti-corruption official leading first lady probe found dead
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S. Korea ties own Olympic record of 13 gold medals, aims to beat it
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BTS' Suga's blood alcohol concentration over 0.2 pct in drunk driving incident: police
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Hybe Chairman Bang spotted in LA with livestreamer Seyeon
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Underdog Kim Yu-jin beats odds to climb to top of taekwondo world in Paris
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2 subway workers killed, 2 injured at Guro Station
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New members of Fifty Fifty unveiled
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N. Korea unilaterally applies for taekwondo's inscription as UNESCO Intangible Cultural Heritage
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[Graphic News] Vietnam named most affordable country for foreign residents in 2024
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Software update of Hyundai, Kia cars result in lower theft rates in US
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[Photo News] Drone delivery for Galaxy phones
Samsung Electronics said Tuesday that it will begin drone deliveries of its new Galaxy Z Flip6 and Z Fold6 to islands near Jeju, Yeoju and Tongyeong. In collaboration with the Ministry of Land, Infrastructure, and Transport, the first drone delivery service for mobile devices here will leverage existing drone and control systems set up by local governments nationwide. The service will shorten the delivery time from seven days to one day, the tech giant said. (Samsung Electronics)
July 16, 2024
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Korea sees surge in social media creators earning over W100m annually: report
Amid the burgeoning community of social media platforms, including YouTube and TikTok, the number of Korean individuals earning over 100 million won ($72,300) annually from their content on these platforms increased from 2020 to 2022, according to a report released Monday. The report submitted by the National Tax Service to Rep. Cha Gyu-geun of the Rebuilding Korea Party revealed the total number of individual creators increased from 27,560 in 2020 to 39,366 in 2022. Over the same period, the to
July 16, 2024
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Kentucky governor meets with S. Korean battery firms to woo investment
Kentucky Gov. Andy Beshear met with officials from South Korea's major electric vehicle (EV) battery and materials companies in a bid to attract additional investment to the US state, industry sources said Monday. The Kentucky governor came to Korea on Sunday for meetings on Monday with executives of car battery maker SK On Co. and Lotte Chemical Corp., which makes EV battery materials, according to the sources. He also plans to meet officials from LG Chem Ltd., which owns about an 80 perce
July 15, 2024
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HD Korea Shipbuilding's merger with STX Heavy gets antitrust approval
The Korea Fair Trade Commission has approved HD Korea Shipbuilding & Offshore Engineering's acquisition of STX Heavy Industries, subject to conditions that prevent supply refusal and price increases for marine engine parts for three years to ensure fair competition. The merger of HD Korea Shipbuilding & Offshore Engineering, the leader in the marine engine and components market, with STX Heavy Industries, the third-largest player in the same sector, is set to significantly enhance H
July 15, 2024
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[Photo News] US Ambassador at HD Hyundai shipyard
US Ambassador to South Korea Philip S. Goldberg (center left), HD Hyundai Vice Chairman Chung Ki-sun (center right) and other officials pose for a photo at the HD Hyundai Heavy Industries shipyard on Monday in Ulsan. The ambassador inspected the shipyard to evaluate potential opportunities for the US Navy to outsource maintenance, repair and overhaul services. HD Hyundai said they discussed leveraging the company’s shipbuilding capabilities to support maritime collaboration between Korea a
July 15, 2024
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Hyundai Steel extends global sales network for eco-friendly steel
Hyundai Steel is expanding sales bases in international markets such as Europe and America for carbon-reduced steel plates in response to the global push for carbon neutrality and the European Union's Carbon Border Adjustment Mechanism. Recently, Hyundai Steel signed a memorandum of understanding with Tawesco, a leading auto parts company in the Czech Republic, and Eusider, an Italian company specializing in automotive steel plate processing. These companies supply steel materials to major
July 15, 2024
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[KH Explains] Here's why 'sugar-free' is not such a sweet deal
Beverages and food items labeled with "zero" -- intended to indicate they are sugar-free -- have faced criticism in Korea, as their promoted benefits often lead consumers to overconsume them, believing they contain no ingredients that could negatively impact health. In recent years, zero-labeled items have emerged among Korean consumers, largely driven by the increasing demand for healthier sugar-free snacks. These products provide a similar sweetness as those made with regular sugar b
July 14, 2024
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Samsung chief renews commitment to India
Samsung Electronics Chairman Lee Jae-yong inspected Indian operations in Mumbai over the weekend, following his attendance at the wedding of Anant Ambani, the youngest son of Reliance Industries Chairman Mukesh Ambani, according to the Korean tech giant Sunday. “Let’s make history with a fierce competitive spirit and urgency,” Lee was quoted as saying during his meeting with local employees. His four-day visit to India comes as Samsung is pouring resources into the market to se
July 14, 2024
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GS E&C sets new vision centering on innovation, trust building
GS Engineering & Construction unveiled Friday a new vision and six core values to foster ongoing growth and enhance employee integration. GS E&C CEO Huh Yoon-hong announced the company's new slogan: "Perfecting a safer today, forging a brighter tomorrow: with transparent trust and relentless innovation, we create a better future for all," to the builder's employees via an intranet video. The company aims to transcend traditional construction, aspiring to become an org
July 12, 2024
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Daewoo E&C launches multilingual safety videos for foreign workers
Daewoo Engineering & Construction said Friday that it released a set of multi-language videos to provide safety and health guidelines to foreign workers at its construction sites. The videos were created in the languages of the top 10 countries from which foreign workers are recruited, including China, Vietnam, Kazakhstan, Uzbekistan, Russia, Mongolia, Cambodia, Thailand, Myanmar and Indonesia, as well as in English. The company expects these multilingual resources will enhance site efficien
July 12, 2024
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Samsung invests in US DNA-sequencing biotech Element Biosciences
Samsung Electronics took part in a $277 million Series D investment for Element Bioscience, a US-based DNA analysis equipment company, to expand its footing in the medical device market, the company said Friday. Element Biosciences, established in 2017 in San Diego, is a life science company that developed the disruptive DNA sequencing and multi-omics technology that boasts the industry's "top level" accuracy for research markets, Samsung said. According to the bioscience firm, th
July 12, 2024
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Kakao Bank donates W1b to tackle global climate crisis
Kakao Bank announced Friday that it is donating 1 billion won ($726,000) to the United Nations International Children's Emergency Fund to aid in tackling the global climate crisis and supporting future generations. The internet-only bank and the Korean Committee for UNICEF conducted a ceremony Thursday to deliver the donation. Kakao Bank CEO Yun Ho-young and Cho Mi-jin, Secretary General of the Korean Committee for UNICEF, attended the event. The donation will fund programs to address and a
July 12, 2024
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Asiana Airlines unions ramp up opposition to Korean Air merger
Unionized workers of Asiana Airlines reiterated Thursday their opposition to a merger with the nation’s largest air carrier Korean Air, expressing their intention to block further procedures by all means. Asiana Airlines' labor unions urged the air carrier's main creditor Korea Development Bank and the European Commission, the EU's antitrust regulator which gave conditional approval on the merger, to review the deal from the ground up. The possible future actions that Asiana
July 11, 2024
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S. Korea appeals tribunal order to pay $32m to US hedge fund
South Korea has filed an appeal against a ruling by a Hague-based arbitration court ordering it to pay $32 million to a US hedge fund to compensate for its intervention in the merger of two Samsung affiliates in 2015, the Justice Ministry said Thursday. The appeal to the ruling by the Permanent Court of Arbitration follows the tribunal’s decision in April to side with Mason Capital Management, though the compensation ordered was much less than the $200 million the hedge fund had sought. Ma
July 11, 2024
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LGE, Qualcomm chiefs meet to discuss AI partnership
LG Electronics Chief Executive Officer Cho Joo-wan met with Qualcomm CEO Cristiano Amon on Wednesday to discuss their ongoing collaboration on advanced technology, including on-device artificial intelligence and automotive electronics, according to industry sources. On the second day of his trip to Seoul, Amon met with Cho at the LG Electronics headquarters in Yeouido, Seoul. The two companies have been building a firm partnership over the past years, especially in the fields of audio products a
July 11, 2024
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Samsung invests W72b in US fund for AI-driven biotech
Samsung C&T and its biotech subsidiaries Samsung Biologics and Samsung Bioepis, announced Thursday they would invest 72 billion won ($52 million) in a US fund focused on startups using AI-based new power drug development platform technologies. The investment will be made through the Samsung Life Science fund, created by the Samsung affiliates and managed by Samsung Venture Investment. The money will be invested in venture capital firm Flagship Pioneering's eighth fund, which has so far
July 11, 2024
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Hanwha Qcells breaks ground on 267 MW solar project in Colorado
Hanwha Qcells, a division of Hanwha Solutions specializing in solar energy, has started construction on a solar power project totaling 267 megawatts in the United States. On Wednesday, Hanwha Qcells announced its partnership with the Platte River Power Authority, a US public power provider, to launch the full-scale construction of a new solar plant in Weld County, Colorado. Hanwha Qcells is responsible for the project's engineering, procurement and construction, ensuring a streamlined proce
July 11, 2024
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Korean builders association explores new opportunities in Vietnam
The Korea Housing Builders Association said Wednesday that its special delegation is visiting Vietnam this week to explore new opportunities in the Southeast Asian country where diverse development projects are underway to boost the vibrant economy. The delegation consists of 13 members, led by Chairman Jung Won-ju, who doubles as chairman of Daewoo Engineering & Construction. They departed for the seven-day trip on Saturday, during which they plan to meet with government and business leader
July 10, 2024
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Korea Post joins efforts to revitalize international postal service
Korea Post announced Wednesday that it took part in the Kahala Posts Group CEO meeting held in Bangkok, Thailand, to tighten cooperation aimed at revitalizing international postal services. The Kahala Posts Group is an international alliance of leading postal services from the Asia-Pacific region. Established in 2002 by postal operators from six Asia-Pacific countries including South Korea, the unit has since expanded its membership to include European countries, now comprising a total of 10 mem
July 10, 2024
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Texas governor vows full support for Samsung’s expansion in US
Texas Gov. Greg Abbott on Tuesday reiterated his full support for Samsung Electronics to secure a bigger footing in the US, upon his visit to the chip giant’s semiconductor manufacturing plant in Korea. Abbott visited Samsung’s semiconductor campus -- the world's largest semiconductor production facility -- in Pyeongtaek, Gyeonggi Province, as part of his Asian trip that includes South Korea, Taiwan and Japan. He arrived in Korea on Monday. The governor inspected the P1 line, gu
July 10, 2024