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New orchid hybrid in Singapore named after Yoon, his wife
N. Korea to cut off roads, railways connected to S. Korea
Uzbekistan hopes to boost cultural, tourism ties with S. Korea
N. Korea amends constitution at parliamentary meeting without disclosing details
Blinken to raise NK-Russia cooperation issue at ASEAN gatherings in Laos: State Dept.
S. Korea to join key FTSE Russell global bond index starting 2025
[Graphic News] Ohtani’s Dodgers jersey tops 2024 MLB merchandise sales
[Editorial] Stop-gap measure
[Kim Seong-kon] Hoping for no 'October surprises' this year
[Nedra Rhone] Americans ready to flee the country?
Twins outlast Wiz to reach verge of KBO postseason series win
Netflix's latest runaway hit is a Korean reality cooking show
Jay Park returns with quintessential R&B album after 8 years
Bucheon hotel fire started from faulty AC unit wiring: police
Yoon visits Hyundai Motor's AI-powered factory in Singapore
Taking away phones during school hours not a human rights violation: watchdog
AliExpress Korea chief questioned on product safety at Assembly audit
K-pop merchandisers punished too lightly for unfair consumer practices: lawmaker
[Today’s K-pop] NCT Dream to host encore concert
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Truckers' strike cripples shipments in cement, steel industries
Nov 25, 2022
The nationwide strike by truck drivers caused supply disruptions across the cement and steel industries on Friday, with other sectors like auto and petrochemicals feared to bear the brunt if the protest prolongs. Cement factories were unable to ship most of the daily supply of 200,000 tons the previous day as bulk cement tanker drivers joined the strike, the cement industry association said Friday. The strike delayed the cement deposit work at construction sites across the country, and the ready
Yoon warns of using executive order to force striking truckers to return to work
Nov 25, 2022
President Yoon Suk-yeol warned the government could use an executive order to force striking truckers to return to work. Yoon issued the warning in a Facebook post late Thursday night after thousands of members of the Cargo Truckers Solidarity Union, under the wing of the Korean Confederation of Trade Unions, launched a nationwide strike to demand the extension of a freight rate system guaranteeing basic wages. The strike is the second of its kind in five months and threatens to disrupt supply c
[Herald Interview] Public Procurement Service helps firms eyeing overseas procurement market
Nov 25, 2022
As South Korea is seeing a widening trade deficit on sluggish global demand amid an economic slowdown, finding new markets for export has become ever more important. The Public Procurement Service, which procures, supplies and manages goods and services for public organizations, also supports Korean companies to tap into the overseas procurement market, the size of which amounted to $12.8 trillion in 2020. “The overseas procurement market is a huge market that companies must aim to become
SK invests in cultured salmon, extends sustainable food biz portfolio
Nov 24, 2022
SK Inc, the strategic investment arm of SK Group, said Thursday it invested in a food-tech startup specializing in cultured salmon, in a bid to diversify its investment portfolio in food business. The holding unit of the nation's third-largest conglomerate said it invested 10 billion won ($7 million) in Wildtype, a United States-based producer of cultured salmon. Cultured salmon is salmon that is cultivated in pilot labs with real animal cells, with mixture of nutrients, sugars, salts, amino aci
[From the scene] Posco goes all-out to salvage typhoon-hit plant
Nov 24, 2022
Steelmaker to normalize full production capacity by year-end
Luxembourg's crown prince to visit Seoul for economic ties
Nov 24, 2022
Luxembourg’s Crown Prince Guillaume Jean Joseph Marie is set to arrive in Seoul on Monday for a three-day visit, leading a delegation of 87 representatives from public and private institutions in the space and ICT industry, the European country said. The Crown Prince and Luxembourg Minister of Economy Franz Fayot will hold several bilateral meetings with South Korean officials to seek cooperation in the development of the space industry, startups, smart cities and environmental technology.
Corporate direct financing dives 49% in October amid rate hikes
Nov 24, 2022
Corporate direct financing in South Korea fell 49 percent in October from the previous month as rate hikes weighed on corporate activities, data showed Thursday. Local companies raised a combined 8.79 trillion won ($6.51 billion) by selling stocks and bonds last month, sharply down from 17.2 trillion won a month earlier, according to the data from the Financial Supervisory Service. Direct financing refers to raising funds directly from the stock and bond markets without borrowing from banks or o
[Photo News] Starbucks for the community
Nov 24, 2022
CEO of Starbucks Korea Sohn Jeong-hyun (third from left) poses with Starbucks employees and Han Chan-hee (fourth from left), chairman of Beautiful Fund, during an opening ceremony Wednesday held for the launch of the fourth Starbucks Community Store in the country. The store will support young adults to stand on their feet by providing them with a maximum of 5.5 million won ($4,113) per year.
Production of S. Korea’s first COVID-19 vaccine suspended
Nov 23, 2022
SK Bioscience looks at overseas, with no more orders at home due to lukewarm vaccine demand for original COVID-19 variant
[Herald Interview] New markets, startups can counter crisis: Arthur D. Little CEO
Nov 23, 2022
Consulting firm CEO says Korea should avoid being taken hostage, seek global talent for startups
Apple succumbs to antitrust pressure
Nov 23, 2022
US smartphone giant Apple said Tuesday it will voluntarily correct its unfair policy of charging greater commission fees to Korean app developers than in other markets by January next year. The decision comes after South Korea’s antitrust watchdog began a probe into the iPhone maker over its Korea-exclusive charging system that is based on consumer prices, including value-added tax. This means Korean developers are forced to pay a 33 percent commission to Apple, above the 30 percent rate i
HanmiGlobal, Bryden Wood team up to innovate construction methods
Nov 23, 2022
South Korean construction management firm HanmiGlobal said Wednesday it signed a business agreement with British architecture-to-engineering firm Bryden Wood to innovate its construction methods. Through the memorandum of understanding, the two companies will jointly develop and implement modern methods of construction (MMC) and a design for manufacture and assembly (DfMA) in Korea. MMC is a construction method in which structures or components of buildings are constructed at external facilities
Saudi wealth fund eyes investment in Kakao Entertainment
Nov 23, 2022
Kakao Entertainment, the content subsidiary of South Korean IT giant Kakao, may receive up to 800 billion won ($592 million) in investment from Saudi Arabia, following the kingdom's crown prince's visit to Seoul last week. The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, is reportedly in discussion with its Singaporean counterpart, GIC Private Limited, about investing in the entertainment firm, according to news reports on Wednesday. PIF is one of the world'
[Herald Interview] Global talent can expand K-pop’s reach, entrepreneur says
Nov 22, 2022
With the global success of BTS reaching new heights, there are some who think this might be a high-water mark for K-pop. But a Singaporean entrepreneur who has himself debuted as a singer in South Korea is more optimistic, saying embracing global talent is one way to expand K-pop’s reach. “As K-pop is widely loved globally, it would be to its advantage to be even more globally inclusive to talents worldwide,” David Yong, chief executive of Evergreen Group Holdings, said in an i
DSME succeeds in testing autonomous-driving system for ships
Nov 22, 2022
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering said Tuesday it has successfully completed the trial of its autonomous navigating system for ships. DSME conducted a two-day test of its testing ship, called DAN-V, equipped with its own autonomous navigating system last week near Jebu Island in Hwaseong City, Gyeonggi Province. The shipbuilder has been preparing for the future market of self-cruising vessels by signing a memorandum of understanding with Gyeonggi Free Econom
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S. Korea, Singapore seal supply chain agreement
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
Korean language teaching expert says demand has outstripped supply
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