The Korea Herald

African cocoa cartel’s price hike stirs up Korean chocolate makers

IndustryFeb 12, 2020

South Korean chocolate manufacturers are holding their breath as the world’s top two cocoa producers have decided to charge a fixed premium on their produce. Last July, the West African nations of Cote d’Ivoire and Ghana -- which command more than 60 percent of global cocoa production -- announced a $400 premium over the futures price of every metric ton of cocoa from October 2020. Though the “living income differential,” or LID, premium aims to provide higher and st
Samsung is ready to ‘fold more’: president

TechnologyFeb 12, 2020

Tech firm goes beyond technological leap, focuses on value consumers get from folding experience
CJ ENM partners with US-based production firms

IndustryFeb 12, 2020

CJ ENM partners with US-based production firms By Shim Woo-hyun CJ ENM said Wednesday it has signed a strategic partnership deal with US-based production giant Skydance Media to increase its foothold in the global market. The company and New York-based hedge fund RedBird Capital Partners have made investments worth $275 million in David Ellison’s Skydance Media, according to the firm. Skydance Media was first started in 2010 by the 37-year-old son of Oracle founder Larry Ellison. It is well
KAI joins Singapore Airshow to showcase high-tech aircraft

IndustryFeb 12, 2020

Korea Aerospace Industries said Thursday it is participating in the Singapore Airshow 2020 to showcase a variety of high-tech aircraft. The Singapore Airshow, which kicked off Tuesday, is one of the world’s three largest air shows, along with the Paris Airshow and Farnborough Airshow. During the six-day event, KAI presents various aircraft, including light combat aircraft FA-50, basic training aircraft KT-1 and transport utility helicopter Suorin. It also displays high-tech aircraft i
Despite coronavirus concerns, tech aficionados gather at Samsung Unpacked

TechnologyFeb 12, 2020

New partnerships with Google, Netflix, Thom Browne hailed by Galaxy fans
[Newsmaker] Hands-on: What you can do with Galaxy Z Flip when folded

TechnologyFeb 12, 2020

SAN FRANCISCO -- There are more things that can be done on a tiny 1.1-inch display on the cover of Samsung Electronics’ palm-sized foldable Galaxy Z Flip than many would have thought, which maximizes both fun and convenient elements of the brand new mobile form factor. The Korea Herald got a chance to check out the new flip-type foldable gadget at the Galaxy Unpacked 2020 held in San Francisco on Tuesday. The tech giant highlighted that its foldable device can now be folded into a sma
Sales of toys, functional foods jump on coronavirus

IndustryFeb 12, 2020

Sales of toys and functional foods are surging in South Korea as children stay home longer and people pay more attention to their health due to a prolonged new coronavirus scare, industry sources said Wednesday. Online shopping site Auction said its sales of toys for toddlers and children skyrocketed from a year earlier in the seven-day period to Sunday. Sales of slides and other large toys nearly tripled over the cited period, and shipments of multi-function play sets, which combine a slide
Hyundai joins hands with startup Canoo on electric vehicles

TransportFeb 12, 2020

South Korean auto giant Hyundai Motor Group said Wednesday it has signed a deal with US electric vehicle startup Canoo to develop an electric vehicle platform for its upcoming models. Hyundai said it expects the new platform using Canoo's scalable skateboard architecture to allow for a simplified and standardized development process, which in turn would lower the prices of vehicles made by its two flagship units -- Hyundai Motor Co. and Kia Motors Corp. Canoo's proprietary skateboard architec
GM Korea to partially halt assembly line over parts shortages

TransportFeb 12, 2020

GM Korea Co., the South Korean unit of General Motors Co., said Wednesday that it will temporarily suspend one of three domestic car assembly plants due to shortages of Chinese parts amid the spreading coronavirus outbreak. GM Korea is set to close its main Bupyeong plant in Incheon, just west of Seoul, on Feb. 17 and 18 due to shortages of Chinese parts, including wiring harnesses, a key component for a variety of models, a company official said. The move would disrupt the production of the
Unpacked: Samsung brings 5G, AI, foldable to 2020 Galaxy lineup

TechnologyFeb 12, 2020

SAN FRANCISCO -- Samsung Electronics has reset the tone for the upcoming decade in the mobile world with catchphrases “5G, AI and foldable” by unveiling an enhanced Galaxy S smartphone lineup and a new foldable form factor in San Francisco on Tuesday. At the Samsung Galaxy Unpacked 2020 event held at the Palace Fine Arts in the city, the South Korean tech titan introduced the global audience comprising 3,000 industry officials and tech aficionados to its vision for the upcoming dec
Look into new techs, features in Galaxy S20, Galaxy Z Flip

TechnologyFeb 12, 2020

SAN FRANCISCO -- By unveiling the Galaxy S20 series and Galaxy Z Flip foldable smartphone, Samsung has introduced some fresh technologies and features that could possibly be benchmarked by competitors. The flagship Galaxy S20 series boasts the enhanced camera system among others. The Galaxy S20 introduces an entirely new camera system -- powered by AI and with the biggest image sensor yet -- to bring out the best in every image and every moment. With larger image sensors available
Galaxy Buds+ lasts 11 hours on single charge

IndustryFeb 12, 2020

Samsung Electronics on Tuesday announced the launch of its upgraded wireless earphones Galaxy Buds+ armed with woofer sound and clearer mic function, with battery that can last for 11 hours on a single charge. Galaxy Buds+ is also the first set of wireless earphones from Samsung that is compatible with iOS, posing a competition to Apple’s latest AirPods Pro. Galaxy Buds+ is equipped with dynamic two-way speaker and three microphones for deeper sound and clearer voice calls, the firm expl
Genexine CEO gives stocks worth W8.2b to family

IndustryFeb 11, 2020

Biotech company Genexine’s CEO Sung Young-chul on Tuesday gifted his stocks worth 8.2 billion won ($6.9 million) to his two daughters, sons-in-law and wife. Genexine, which is listed on the secondary bourse Kosdaq, filed a disclosure on Friday about the transfer of stocks, but it was belatedly reported that his daughters were the beneficiaries. Sung has in the past gifted his stocks to academic associations, hospital and universities on several occasions, but this is the first time he h
Samsung SDI announces joint venture with local battery material maker

IndustryFeb 11, 2020

South Korea’s second-largest battery maker Samsung SDI said Tuesday it will launch a joint venture with local battery material maker EcoPro BM, as part of its efforts to develop next-generation batteries and better respond to the growing demand from global electric vehicle makers. EcoPro BM will invest 72 billion won ($60.8 million) for a 60 percent share in the joint venture, while Samsung SDI will invest 48 billion won for a 40 percent share in the new company. They plan to complete
GC Pharma, SK Plasma going global to offset blood shortage

IndustryFeb 11, 2020

Pharmas developing plasma-based drugs constantly face limited supply