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Med professors to resign this week amid prolonged doctors' walkout
KITA partners with German VC fund to bolster auto firms in Gwangju
Music festivals gear up for summer season
Yoon’s jailed mother-in-law excluded from latest parole list
Aging population to drive down Korea's housing prices from 2040: experts
[Herald Interview] Bridging Korea, Philippines for better future
Polish delegation visits Seoul to push ahead with arms deal
SK CEOs vow to bolster corporate value-up drive
Online platform set up for easier access to old maps of East Asia
[Today’s K-pop] Ateez confirms US tour details
Seoul's top diplomat to meet secretary of Chinese province bordering NK
Uzbekistan to hold Tashkent Investment Forum
Another endangered Siberian tiger dies at Seoul Zoo
[Pressure points] Leggings in public: Fashion statement or social faux pas?
K-water, Kyrgyzstan forge renewable energy, climate ties
North Korea holds drills simulating nuclear counterattack against enemy
Seoul shares fall on foreign selling despite overnight US gains
CICI announces Korea image contests
CJ's processed rice sales soar in North America
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Hana Bank, GMO-PG to simplify Korea-Japan business payments
Mar 26, 2024
Hana Bank said Tuesday it signed a partnership deal with Japan’s largest payment processing company, GMO Payment Gateway, to launch a cross-border payment and settlement system for domestic companies expanding into Japan. Under the partnership, Hana and GMO will collaborate in providing a wide range of services Korean companies from expert consulting for starting businesses and launching franchises in Japan to assistance on transferring e-commerce sales generated in Japan. Thier collaborat
Daewoo E&C eyes bigger footing in overseas markets
Mar 26, 2024
Amid escalating construction costs and volatility in the financial markets triggered by interest rate hikes, the domestic real estate sector is grappling with unprecedented risks. In response, Daewoo Engineering & Construction is pivoting to international markets, notably in urban development projects, to mitigate these challenges, the company said Tuesday. Despite the recent market downturn, Daewoo E&C has demonstrated resilience. The builder reported sales of 11.6 trillion won ($8.67 b
How streaming TV buttons helped boost profits for Samsung, LG
Mar 25, 2024
Top two TV makers turn to content amid declining hardware sales
New Kyobo Life CEO urges change, innovation
Mar 25, 2024
The new CEO of Kyobo Life Insurance, the nation's leading life insurer, has pledged to achieve "sustainable growth" that benefits all stakeholders. Upon assuming office on Monday, CEO Cho Dae-kyu cautioned about the life insurance industry's current challenges, citing "stagnant growth and declining profitability." During his inauguration ceremony at the company's headquarters in Gwanghwamun, central Seoul, the CEO stressed the urgent need for "change and i
Eximbank to form W1tr fund for chips, battery
Mar 25, 2024
The Export-Import Bank of Korea, or Eximbank, announced it will form a 1 trillion won ($745 million) fund to support businesses in high-tech strategic industries, especially semiconductors and batteries. The policy lender will put in 150 billion won toward the fund which will close out at 1 trillion won. The fund will be used to provide preferential interest rates and loan limits to businesses related to chips, battery, bio, future mobility and electric engineering. It is the second fund establi
LX chief calls 2024 'turning point'
Mar 25, 2024
LX Holdings Chairman Koo Bon-joon said Monday he would enhance the group’s crisis response system in a bid to enhance its responsiveness to business uncertainties at home and globally. “The year 2024 will be an important inflection point as we prepare for the next three years of LX’s leap,” Koo said during this year’s annual shareholders meeting held at the company’s headquarters in Seoul. Koo’s comments come as LX Group spun off from LG Group in 2021
Antitrust watchdog to launch large-scale survey on e-commerce platforms
Mar 25, 2024
With the rapid influx of global e-commerce into the domestic market, the Fair Trade Commission is set to launch an extensive market survey starting Tuesday, to examine the evolving landscape and structure of the e-commerce market in Korea. The survey marks the first step in gathering data to produce a policy report slated for release by the end of this year. The report's objective is to proactively identify and analyze fair trade and consumer issues arising from shifts in e-commerce market
IBK to roll out W100b fund for digital tech
Mar 25, 2024
The Industrial Bank of Korea on Monday announced the establishment of a strategic investment fund worth 100 billion won ($75 million) to nurture businesses with innovative digital technologies. The fund will be pooled by the policy lender and its affiliate IBK Capital, with each investing 90 billion won and 10 billion won, respectively. As IBK Capital is more experienced in venture funding, it will manage the fund as a general partner, IBK explained. The fund aims to support platform operators w
65% of Korean firms penalize ChatGPT-crafted resumes
Mar 25, 2024
A majority of large companies in South Korea disadvantage applicants who craft their resumes using artificial intelligence services, such as ChatGPT, according to a survey released Sunday. The Labor Ministry and the Korea Employment Information Service unveiled a report on employment trends in the second half of 2023, which was based on a survey of human resource managers at the nation’s top 500 companies by sales. The survey was conducted from Nov. 20 to Dec. 22 last year, with 315 out of
[Photo News] Farewell to the Queen
Mar 25, 2024
Asiana Airlines’ Boeing 747-400, the last Boeing 747 aircraft in South Korea, is honored with a grand water salute at Taiwan Taoyuan International Airport on Monday to mark its final flight. Known as the “Queen of the Skies,” the iconic aircraft was first introduced in Korea in 1999. The Asiana aircraft has flown nearly 97,000 hours, completing over 18,000 flights and covering 88 million kilometers. (Asiana Airlines)
EcoPro invests $11m to secure stake in Indonesian nickel smelter
Mar 25, 2024
EcoPro, a South Korean battery materials holding company, said Monday that it had invested $11 million for a 9 percent share in Green Eco Nickel, an Indonesian nickel smelter operated by Chinese battery materials firm GEM, to expand the supply of nickel, a crucial raw material for lithium-ion battery production. The Green Eco Nickel smelter, situated on Sulawesi Island in Indonesia, boasts annual production of approximately 20,000 tons of nickel. The investment will allow EcoPro to gain addition
Hana Bank, ICE Digital Trade team up for paperless trading
Mar 25, 2024
Hana Bank announced Monday that it has inked a memorandum of understanding with global digital solutions provider ICE Digital Trade to innovate trading procedures, especially digitalizing trade-related documents and communications. ICE Digital Trade, part of New York-listed Intercontinental Exchange, connects over 56 global banks and 65,000 member companies through its digital trade transaction solution, called DSUA or Databridge Services & Users Agreement. This partnership aims to streamlin
Plastic surgery remains top choice for medical tourists
Mar 25, 2024
Plastic surgery remains the top choice for medical tourists visiting Korea, with dermatology and dentistry gaining popularity recently, according to data from Creatrip, a Korean tourism platform, Monday. The data is derived from Creatrip’s market analysis of its medical tourism offerings in January and February this year. Plastic surgery emerged as the leading preference among inbound tourists, with reservation rates surging 220 percent from the previous year, accompanied by a 270 percent
Fescaro's 'defense in depth' system allows multi-layered vehicle cybersecurity strategy
Mar 25, 2024
With the concept of software-defined vehicles growing more prominent in the automobile industry, so is demand for automative cybersecurity. Fescaro, a leading cybersecurity specialist, has what it calls a "defense-in-depth" system that has a multi-layered strategy to provide security for the security of the car's system. The first layer cuts off the primary risks by filtering the inbound communications through a security gateway. The secondary layer applies security solutions to t
Competition heats up in HBM market as Nvidia endorses Samsung chip
Mar 24, 2024
The race for leadership in the burgeoning high bandwidth memory chips market is growing fiercer, as Nvidia revealed its plan to secure orders for the cutting-edge component from Samsung Electronics, the Korean chip giant seeking to outsmart crosstown rival SK hynix. At a media briefing last week, Jensen Huang, the co-founder and CEO of Nvidia, openly endorsed Samsung Electronics and unveiled the company's plan to use the Korean chipmaker's HBM chips in the future. US-based Nvidia is the biggest
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
Medical standoff deepens as doctors reject new med school plan, talks
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S. Korean envoys convene to navigate strategy amid Middle East tensions
North Korea fires several short-range ballistic missiles into sea: JCS
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