African ambassadors and Korean trade experts explored the economic potential of bilateral ties between Korea and Africa during the Africa Day Business Forum, co-hosted by The Korea Herald and the African Group of Ambassadors in Seoul on Thursday. In a panel discussion mediated by Tunisian Ambassador to Korea Kais Darragi, they discussed ways to attract more investment into African countries. Hong Soon-young, vice president of the Export-Import Bank of Korea, urged African nations to go all-out t

Major local banks are expediting compensation procedures for losses tied to Hong Kong-linked derivative products, with some poised to distribute payments this week. KB Kookmin Bank, the largest seller of equity-linked securities tracking the troubled Hang Seng China Enterprises Index, will officially begin negotiations for voluntary compensation with clients starting Monday, an official from the bank said Sunday. The bank plans to address accounts based on their order of maturation, starting wit

LG Energy Solution said Sunday that its top executives traveled to the US last week to host a global talent recruitment event as part of the battery maker’s ongoing efforts to lure tech talents around the world. The Battery Tech Conference (BTC) is the company’s unique global recruitment event aimed at recruiting quality workers in research and development and promoting its vision for growth. Following last year’s event held in San Francisco, the event headed to New York this y

Korean auto industry urges clarity, citing complexity of mobility supply chains

Carmaker’s sole factory for Macan, Panamera boasts daily production capacity of 550 vehicles for worldwide shipping

As the construction industry grapples with years of high interest rates, rising raw material costs and increased risks associated with real estate project financing, Korea's second-largest steelmaker, Hyundai Steel, has been diversifying their businesses to enhance profitability and discover new demand. As part of this initiative, the steelmaker has signed a joint research and development agreement for steel structure refractory methods in partnership with Hyundai Engineering, KCC and the K

Genesis BBQ Group, Korea's largest chicken franchise, announced Thursday the opening of a new store in Omaha, in eastern Nebraska. With the launch of the Omaha branch, BBQ has successfully expanded its presence to 28 out of the 50 states in the US. Omaha is the largest city in the state and is also home to Berkshire Hathaway, the investment holding company of renowned investor Warren Buffett. BBQ's Omaha branch, located just ten minutes from Berkshire Hathaway's headquarters, is e

In terms of traffic safety, South Korea has seen a remarkable improvement over the past decade across various metrics. According to the International Transport Forum, the country has seen a 49.2 percent decrease in road deaths between 2012 and 2022. The number of passenger car occupants killed in road crashes dropped by 63.8 percent, while that of pedestrians killed in traffic accidents fell by 54 percent. Industry experts attribute such improvements to an overall enhancement of public awarene

South Korean food company Ottogi family's third-generation member Ham Yon-ji, 32, has recently joined Ottogi, after appearing in public for years as a musical actor and a YouTuber, according to industry sources Friday. As the daughter of Ottogi Chairman Ham Young-joon, Ham officially joined Ottogi America, a US subsidiary of Ottogi, this month and is reportedly working in the marketing division following an internship at the company. Ham graduated from New York University's Tisch Scho

  HD Hyundai announced Friday a partnership with Shell to advance liquefied hydrogen (LH2) transportation technologies. HD Korea Shipbuilding & Offshore Engineering and HD Hyundai Heavy Industries, both integral parts of HD Hyundai's shipbuilding division, have signed a joint development agreement with Shell International Trading and Shipping Company Ltd. The agreement was signed at the HD Hyundai Global Research and Development Center in Gyeonggi Province. Executives in attendance incl

Posco has harnessed its cutting-edge steel technology in the delicate task of South Korean cultural heritage restoration, transforming conventional sites in Seoul into vibrant spaces of public art and relaxation. At the heart of this project is PosART, or Posco Advanced Resolution printing Technology. It is an innovative steel sheet developed from PosMAC, or Posco Magnesium Alloy Coating Product, Posco’s proprietary corrosion-resistant steel. PosART also boasts the ability to render vivi

  Korean biosimilar giant Celltrion announced Thursday that its anti-IgE antibody biosimilar Omlyclo has been approved in Europe, after a series of clinical trials with the reference product Novartis' Xolair. Omlyclo, also called by project name CT-P39, received formal product approval from the European Commission on Tuesday, approximately two months after receiving the initial approval recommendation from the Committee for Medicinal Products for Human Use under the European Medicines Agenc

Samsung Electronics, the world's No. 1 memory chipmaker, on Friday denied a report that its high bandwidth memory chips had yet to pass Nvidia's tests for use in the US chip giant's AI processors. Samsung said testing for HBM supply is progressing "smoothly" with various global partners. "We are currently working closely with multiple companies and continuously testing technology and performance,” the Korean tech giant said in a statement. “We are cond

Its cheapest compact EV drives 600km on single charge, but market success hinges on final pricing

GIMPO, Gyeonggi Province -- Korean Air has unveiled its newly revamped Operations and Customer Center after 23 years, emphasizing the airline's increased focus on risk management in light of variables such as the merger with Asiana Airlines and the introduction of newer aircraft. "Air operations are possible only when real-time communications, from transportation to operation to cabin maintenance, are smoothly organized and seamlessly prepared," said Korean Air President Woo Kee-h