Kwon Bong-seok, the CEO of LG Electronics, is likely to be promoted as the new vice chairman of LG Corp., the holdings firm of South Korean conglomerate LG Group. According to LG Group on Tuesday, LG Electronics and LG Corp. are scheduled to hold their respective board meetings Thursday and finalize the executive reshuffle. Kwon Bong-seok is expected to fill in the shoes of Kwon Young-soo, who was appointed in October as the new CEO of LG Energy Solution, the battery unit of LG Group. The

LG Chem Vice Chairman Shin Hak-cheol on Tuesday emphasized five inclusive growth strategies to bolster the transparency and competitiveness of its suppliers. According to South Korea’s leading chemical company, the five principles are creating a fair trade culture; providing financial support and improving payment conditions; pursuing mutual growth through safe environments and eco-friendly business; building the capacity of suppliers; and sharing information and exchanging ideas. To

Two leaders agree to boost partnerships in economy, environment, technology

In a move to expand its footprint in the health care sector, CJ CheilJedang will spin off its health and wellness business, the Korean food maker said Tuesday. Set to be launched on Jan. 1, the new subsidiary CJ Wellcare will be entirely controlled by CJ CheilJedang. The move comes after CJ Group Chairman Lee Jay-hyun in early November pledged to invest 10 trillion won ($8.41 billion) over the next three years to boost four growth engines -- one of which is the health and wellness sector.

Biden administration’s selective incentives for US makers, battery procurement issue hamper Korean automaker’s planned EV production there

South Korea's defense chief vowed Tuesday to never forget the "noble" sacrifices of two Marines killed in a 2010 North Korean artillery attack on a western border island, stressing they laid the groundwork for peace. Defense Minister Suh Wook made the remarks during an annual ceremony marking the 11th anniversary of the attack on Yeonpyeong Island near the western inter-Korean sea border, which killed two Marines and two civilians. "I think that based on their noble sacrifices,

GWANGJU -- A libel trial against former President Chun Doo-hwan is expected to come to an end with his death Tuesday. Chun has been on trial for allegedly defaming a late priest, Cho Pius, who claimed he witnessed Chun's troops shooting from helicopters at pro-democracy demonstrators in the southwestern city of Gwangju in 1980. Chun called the priest a "shameless liar" in his controversial memoir published in 2017. In November last year, the Gwangju District Court sentenced Chun to e

Emro, a supply chain management software company in Korea, said Monday its third-quarter net profit rose 21 percent from a year ago on expansion of clients and business. According to the company’s regulatory filing, its net profit stood at 3.98 billion won ($3.3 million) in the July-September period. Its operating income jumped 42 percent on-year to 4.04 billion won, and revenue expanded 11 percent to 11.2 billion won in the cited period. Emro said its net profit grew thanks to the incr

By Manuela V. Ferro 　 By Akihiko Nishio ----------------------------------------------------------------- A document in the World Bank’s archives tells a story of modest beginnings: In 1962, representatives of South Korea and the International Development Association, the World Bank’s fund for the world’s poorest countries, signed a Development Credit Agreement for a railroad project “to meet growing traffic needs, to improve its operating efficiency and to decreas

An inexperienced police officer ran from a crime scene, leaving two victims alone with a knife-wielding attacker. Was this a dereliction of duty?

Victims of the bloody crackdown on a 1980 democracy uprising voiced frustrations Tuesday, as their efforts to bring former President Chun Doo-hwan to justice came to a sudden halt with his death earlier in the day. Chun, an Army general-turned strongman, died at his home in western Seoul at age 90 after suffering from chronic illnesses, leaving behind a dark legacy of seizing power in a 1979 military coup and ruthlessly cracking down on the civil uprising in the southwestern city of Gwangju the

BMW said Tuesday it will strengthen its electric vehicle lineup in South Korea to meet growing demand for environment friendly vehicles. This week, BMW added the all-electric iX flagship SUV and the iX3 midsized SUV to its existing EV lineup composed of the pure electric i3 subcompact car and the plug-in hybrid i8 sedan. "The company will continue to beef up its EV lineup by adding electrified models to each segment to satisfy customers' demands," BMW Korea said in a statement. BM

The climate crisis is one that the world must respond to quickly and in a concerted manner, Italian Ambassador Federico Failla said in an interview with The Korea Herald on Thursday, emphasizing food sustainability ahead of the sixth World Week of Italian Cuisine, which runs Nov. 22-28. Failla said the week’s theme is food sustainability from a traditional perspective of Italian cuisine, because food culture is deeply rooted in tradition. The World Week of Italian Cuisine is an initiativ

South Korea said Tuesday it plans to sell smaller-than-planned state bonds for next month in a bid to help stabilize the bond market and improve fiscal soundness. To that end, the finance ministry plans to use excess tax revenue of 2.5 trillion won ($2.1 billion) for the shortfall of the planned sale of Treasurys. This means the ministry will issue state bonds that are around 2.5 trillion won less than its planned sale for next month. The government sold Treasurys worth 164 trillion won in th