Samsung Electronics Vice Chairman and co-CEO Han Jong-hee on Wednesday apologized over the escalating disputes surrounding performance issues of the tech giant’s latest flagship Galaxy S22. “We were unable to properly consider our consumer’s needs,” Han said as he bowed deep in apology in front of some 1,600 shareholders attending an annual general meeting both in-person and online. It was the ...

US President Joe Biden will make his first visit to Europe since the invasion of Ukraine to discuss the crisis with NATO allies next week, the White House said on Tuesday as the refugee tally hit 3 million amid more Russian air strikes. Moscow has not captured any of the 10 biggest cities in the country following its incursion that began on Feb. 24, the largest assault on a European state since ...

When President Moon Jae-in took office in 2017 following the impeachment of his predecessor Park Geun-hye, many, including myself, thought the liberal Democratic Party of Korea would dominate politics for at least a full decade. Some even expected the party to rule for the next 20 years, and the general consensus was that it would be extremely difficult for the conservative bloc to make a quick ...

Former Navy special warfare officer Rhee Keun, who recently left South Korea to fight as a volunteer soldier in the war in Ukraine, said in an Instagram post that he is alive in Ukraine. Denying recent rumors about his death after the Russian Defense Ministry’s announcement that around 180 pro-Ukrainian volunteer soldiers on Ukrainian training bases had been killed, Rhee posted “I’m alive” via s...

The first luncheon between President Moon Jae-in and President-elect Yoon Suk-yeol was canceled about four hours before they were to sit down together, with the transition getting off to a rocky start. This is the first case in which a meeting between the incumbent president and president-elect was canceled after plans were made public. “We decided to reschedule the meeting because working-leve...

The US dollar has been at the center of the global monetary system for more than seven decades since the end of World War II. The dollar-dominated international monetary system has shaped the postwar world political economy by significantly contributing to US power, both economically and politically, as well as lubricating the wheels of the global economy. However, in recent years there have been...

Keyeast Co. on Wednesday announced that it will sell stocks to raise 1.3 billion won($1.1 million). The proceeds from the stock sale will be used mainly to finance its operations. According to a regulatory filing, the company will issue 104,773 common shares at a price of 12,466 won per share. The stocks will be sold to the investors that the firm designated. (Yonhap)

K-pop powerhouse JYP Entertainment’s newly established US arm will be led by the person largely responsible for the global success of the label’s girl group Twice. “Shin Hyun-kuk has been tapped to helm US operations. He is a chief director of one of the four artist management and marketing teams and JYP Three Sixty’s chief executive officer,” a JYP Entertainment official told The Korea Herald T...

South Korea's car exports expanded more than 5 percent in February on increased production capacity, despite a global shortage of automotive chips, data showed Wednesday. Outbound shipments of automobiles stood at 167,682 units last month, up 5.1 percent from a year earlier, according to the data from the Ministry of Trade, Industry and Energy. In terms of value, auto exports also increased 9.1...

Banks in South Korea saw their combined net profit surge about 40 percent in 2021 thanks to increased interest income from the central bank's rate hikes, data showed Wednesday. The combined net profit of 20 local banks came to 16.9 trillion won ($13.6 billion) in 2021, up 39.4 percent from 12.1 trillion won tallied a year earlier, according to the preliminary data from the Financial Supervisory ...

SK Siltron is considered one of the five major wafer makers along with Japan-based Shin-Etsu Chemical and Sumco, Taiwanese firm Global Wafers and German company Siltronic, which account for nearly 95 percent of global market share if combined. Its home country Korea is the second-largest by wafer capacity just behind Taiwan, according to IC Insights. Nearly 60 percent of SK Siltron’s revenue has...

South Korea's antitrust regulator said Wednesday it has decided to impose a combined fine of 175.8 billion won ($141.4 million) on 15 poultry-processing companies for colluding to fix prices. Sixteen companies, including industry leader Harim Co. and Orpum Co., colluded to fix prices and supplies of chickens on 45 occasions between November 2005 and July 2017, according to the Fair Trade Commiss...

SEOUL, South Korea , March 16, 2022 /PRNewswire/ -- DEKRA is pleased to announce the signing of a Memorandum of Understanding (MoU) with Korea Testing Laboratory (KTL) to develop cooperation opportunities within the scope of testing and certification services. The areas of interest cover explosion protected electrical equipment, electric vehicle charging systems, cellular 5G devices, connecte...

The Supreme Court on Wednesday confirmed a seven-year prison term for a 64-year-old woman for beating her adult son over 2,000 times with a bamboo stick for more than two hours and causing him to die. The mother was indicted on charges of beating to death her 35-year-old son at a Buddhist temple in August 2020 by either assaulting him with a stick or kicking. Two lower courts sentenced her to se...

Talented South Korean directors of popular TV series are poised to begin their Hollywood career amid the unprecedentedly strong presence of Korean content across the world. Director Lee Myung-woo, who helmed the action comedy "The Fiery Priest" (2019) and the crime thriller "One Ordinary Day" (2021), signed a contract with the American talent agency Creative Artists Agency (CAA) last month. The...