South Korean memory chipmaker SK hynix said Thursday it paid Intel an initial $7 billion tranche, completing the first phase to acquire the US tech giant’s NAND and SSD business. By absorbing Intel’s NAND and SSD business, SK hynix will rise as the No. 2 player in the global NAND market from its current fifth place. In the SSD segment, where Intel controls 29.6 percent, SK hynix can surpass Sams...

Hanwha Solutions Corp. a chemical and energy unit of South Korean conglomerate Hanwha Group, said Thursday it is acquiring the telecommunication module business of Samsung Electro-Mechanics Co. in a bid to diversify its electronics component sector. Under the agreement signed between the two companies earlier in the day, Hanwha Solutions will take over the WiFi module and the high-speed fifth-ge...

Main opposition presidential candidate Yoon Suk-yeol said Thursday he wants to pay a visit to former President Park Geun-hye when she recovers her health, as Park was to be set free later in the day under a presidential pardon. Park's release puts Yoon in an awkward position as he headed the investigation of Park's corruption scandal in 2016 that eventually led to her impeachment, ouster from of...

The main opposition People Power Party (PPP) claimed Thursday it has detected suspicious opinion rigging attempts against its presidential candidate Yoon Suk-yeol as it plans to lodge complaints with election and law enforcement authorities over the issue. The PPP said it found signs of illicit cyber operations targeting Yoon through its self-developed software Kraken. The software was designed ...

South Korea’s move to join the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership next year will work in favor of Asia’s fourth-largest economy’s trade, experts from the US and the UK said. “We believe that South Korea will succeed in joining the CPTPP in the coming years,” Fei Xue, an Asia analyst at the Economist Intelligence Unit, told The Korea Herald in an email inter...

Paris Baguette operator SPC Group promoted its third-generation heir Hur Jin-soo as president of Paris Croissant, the group‘s de facto holding company, the firm announced Thursday. The recent promotion is in recognition of Hur’s contribution to raising Paris Baguette’s brand awareness in major foreign markets, explained SPC. He also led the bakery chain’s joint venture project in Indonesia and C...

The planned expansion of the government's COVID-19 vaccine pass system to include 12- to 18-year-olds will likely be delayed by one month to next March, government officials said Thursday. The possible delay may be formally announced by the government on Friday, together with its decision on whether to extend the current strict social distancing measures for two more weeks, the officials said. ...

While thanking viewers, production staffers, the celebrities and members of the public who took part in his program, Yoo also paid respect to the late comedian Kim Chul-min and television director Kim Tae-ho as well, who worked with Yoo in one of South Korea’s longest-running and most successful variety shows, “Infinite Challenge.” Kim Tae-ho is scheduled to leave MBC later this year after 20 yea...

The Constitutional Court has ruled again unanimously that there is no problem with the Medical Service Act that allows only blind people to be eligible for an official license as massage therapists, officials said Thursday. A group of sighted massage parlor owners filed the petition claiming the law infringes upon their right to choose jobs. The law stipulates up to three years in prison or 30 m...

The Federation of Korean Trade Unions (FKTU) reclaimed its status as South Korea's largest umbrella union in 2020, outpacing its rival organization in terms of membership size, a government report showed Thursday. According to the labor ministry's latest report on workplace unionization, the number of union members registered under FKTU was recorded at 1.15 million, or 41.1 percent of the total ...

South Korean pharmaceutical giant Celltrion Inc. said Thursday its new biosimilar of the arthritis drug Humira has won approval from Canadian authorities. Yuflyma, an adalimumab biosimilar with a high concentration, is used to treat patients with rheumatoid arthritis, psoriasis and inflammatory diseases. Yuflyma requires only half the solution administered to patients compared with the existing...

SK Group Chairman Chey Tae-won, who doubles as head of the Korea Chamber of Commerce and Industry, suggested redefining private-public partnerships in his New Year’s message released Thursday, calling for a more mutually beneficial mechanism that helps spur innovations across industries. Chey urged businesses to first change their mindsets, saying that gone are the days where making profits, cre...

Presidential nominee Lee Jae-myung of the ruling Democratic Party of Korea voiced his opinion against joining the US-led diplomatic boycott of the upcoming Beijing Olympics, saying South Korea should prioritize its own interests in its unique diplomatic circumstances. In a press event Thursday hosted by the Korea News Editors’ Association, Lee said South Korea should consider itself as a country...

Shinsegae and Seoul Auction are teaming up to expand operations in arts, NFTs and metaverse fields, South Korea’s largest art auction house said Thursday. The department store operator will purchase 28 billion-won ($23.6 million) of new shares issued by Seoul Auction, according to a DART announcement posted by the two firms on Wednesday. When the acquisition is finalized on Jan. 6, Shinsegae wi...

Samsung Electronics Co. said Thursday it sold four times as many foldable Galaxy Z series phones this year as last year, further solidifying its lead in the fast-growing new smartphone segment. While the South Korean tech giant did not disclose the exact tally, the total sales of the Galaxy Z series is believed to be around 8-9 nine million units this year, led by the popularity of the Galaxy Z ...