Earlier in March, McDonald’s Korea held an award ceremony at its headquarters in Jongno-gu, central Seoul, to commemorate the 35th anniversary of its foundation. Dubbed the “Three-legged Stool” award ceremony, the theme of the event was directly inspired by McDonald’s founder Ray Croc’s three-legged stool philosophy, which states that the company’s headquarters, suppliers and franchisees should grow together. The theme also highlighted McDonald’s company

South Korean general trading firm STX said Wednesday it has won an order to produce two 500-ton maritime patrol ships worth a combined $36 million for the Peruvian government. Having already supplied a total of six maritime patrol ships since 2013, STX said it is securing a firm footing in the Peruvian defense market. The upcoming diesel-powered seventh and eighth ships – 56.4 meters long and 8.5 meters wide each – have a maximum speed of 23 knots or 42.6 kilometers per hour. Equippe

Purchasing a package holiday can be a convenient option for travelers but may not be the ideal choice for people who dislike ticking off a list of famous tourist spots and attractions. Founded as a startup in 2020, DayTrip is an app that aims to provide well-curated and eye-catching travel content not provided by more conventional travel companies and platforms. “We started (DayTrip) during the COVID-19 pandemic, (which) was a very difficult time for us to make a travel platform,” Da

Korea, Canada agree to expand economic cooperation in clean energy sector

Prices of popular eating out options at restaurants continued to increase in April, adding more pressure to people’s consumption, a state-led agency’s data showed Wednesday. According to the Korea Consumer Agency data, the average price of a bowl of jajangmyeon, or noodles in black bean sauce, in Seoul increased by 12.5 percent on-year to 6,915 won ($5.20), up from 6,146 won a year ago. The average price of a bowl of samgyetang -- ginseng chicken soup that is popular during the summe

SHENZHEN, China -- Chinese tech giant Huawei Technologies said Wednesday that it's looking to continue exploring opportunities for joint growth and shared success with its Asia-Pacific business partners in the digital economy. The Huawei Asia Pacific Partners Conference 2023, hosted by Huawei APAC, kicked off at the Shangri-La Hotel in Shenzhen -- an emerging tech city in China’s Guangdong province and the home of the Chinese IT company. Under the theme of “Grow Together, Win Fu

Lee says new space body will accelerate Korea’s space vision

LG Display, which has been suffering operating losses in recent months, could turn a profit next year if it starts supplying OLED panels to Samsung Electronics as early as this quarter, an analyst report said Wednesday. “LG Display is expected to supply 77-inch, 83-inch OLED panels to Samsung Electronics from the second half of this year, and add 55-inch and 65-inch panels to the deal,” Kim Dong-won, an analyst at KB Investment and Securities, said in the report. “The deal woul

Samsung Display said Wednesday its quantum-dot OLED or QD-OLED has been named Display of the Year by the Society for Information Display, one of the industry’s top honors. QD-OLED is a hybrid technology that improves the brightness and color of OLED panels by using self-emitting quantum dots as the light source.

Japanese Prime Minister Fumio Kishida has invited the heads of global chipmakers, including Samsung Electronics, to meet, in an apparent move to boost his nation’s chip industry, according to Japan’s Yomiuri Shimbun newspaper on Wednesday. The media outlet said a total of seven companies -- Samsung, TSMC, Intel, IBM, Micron, Applied Materials and Interuniversity Microelectronics Center -- will join the rare meeting to be held at Kishida’s official residence in Tokyo on Thursday

CJ Logistics Corp., a major South Korean logistics company, said it has signed an initial agreement with Saudi Arabian firm Beez Logistics as part of its efforts to expand its business in the Middle East. With the memorandum of understanding, CJ Logistics will share its logistics experience, technology and network with its Saudi Arabian partner to provide delivery service that suits the country's desert climate, the company said Tuesday. Beez Logistics has a cold-chain system that helps saf

TGS Group’s art investment business unit ArtFin signed a memorandum of understanding with The Korea Herald on Monday in a pledge to share Korean art with the world. Through the non-binding agreement, the two companies will cooperate to create a new wave of art investment, nurture a better environment and a bigger market for artists and investors. They will also support Korean artists to enter the global market. They plan to do so by exhibiting, planning and selling artworks, discovering an

By Lee Young SMEs and startups minister President Yoon Suk Yeol’s recent state visit to the US, the first such visit by a South Korean president in 12 years, has proven successful. Along with a joint statement, Korea and the US announced six agreements including the Washington Declaration, while securing $5.9 billion worth investments and 50 business deals. The two countries have confirmed the elevated status of Korea, which our people and companies have achieved over the last seven decade

Carmaker bolstering responsiveness to US subsidies for EVs

South Korean food giant Nongshim saw its profits nearly double in the first quarter, primarily led by its booming business in the US, the company's earnings report said Tuesday. According to Nongshim's regulatory filing, the company's sales and operating profits during the January to March period were tallied at 860.4 billion won ($643 million) and 63.8 billion won, respectively, on a consolidated basis. Compared to the same period last year, Nongshim's sales have increased b