Most Popular
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Yoon pushes for Xi’s visit to firm up ties with China
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Xi says he will consider S. Korea visit
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Esports legend Faker seeks to lead Korean surge at Asian Games
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[Hello Hangeul] The making of Korean language textbooks featuring BTS
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Korea’s parental leave benefits lag behind OECD average
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Incheon Airport passenger traffic to recover during Chuseok holiday
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Korea trade volume sees sharp drop among OECD members
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Golden apples: Why fruit prices are national issue in early autumn
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2m Koreans opt out of life-extending treatments
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BTS' Jungkook to drop new single '3D'
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Hanwha Aerospace to test out uncrewed vehicle for US military bid
Hanwha Aerospace said on Thursday that its multipurpose uncrewed vehicle, Arion-SMET, will be tested at a US Marine Corps facility in Hawaii in December for potential integration into the US Army. This marks the first time a Korean-made vehicle of this type will undergo such testing. It is part of Hanwha's efforts to solidify its stature in the global aerospace and defense market by 2030. The testing follows Hanwha's recent contract with the US Department of Defense to join the Foreign
IndustrySept. 14, 2023
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DS Dansuk to finish new biodiesel refinery next year
Resource recycling company DS Dansuk held the groundbreaking ceremony of its new Hydrotreated Vegetable Oil refinery in Pyeongtaek, Gyeonggi Province, Wednesday, the firm said Thursday. Aiming to finish the construction by next July, the second-generation biodiesel refinery is an extension of the company’s first biodiesel plant in Pyeongtaek. DS Dansuk will invest 35.7 billion won ($27 million) in the construction, the company said. The ceremony was attended by about 70 employees, includin
IndustrySept. 14, 2023
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‘Korean battery makers to catch up with Chinese rivals by 2025’
South Korea’s top three battery makers are highly likely to see a surge both in sales and operating profits despite their reduced market share in the global electric vehicle battery market, which is dominated by Chinese rivals, according to market tracker SNE Research on Thursday. “Due to China-made low-priced lithium iron phosphate (LFP) batteries, LG Energy Solution, Samsung SDI and SK On’s combined market share worldwide dropped from 30.4 percent in 2021 to 23.8 percent in t
MobilitySept. 14, 2023
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CJ to expand UK presence with Korean seaweed
Bibigo's Seaweed Snack will hit supermarket shelves in the United Kingdom, Korean food giant CJ CheilJedang said Thursday. The product will be sold at popular UK grocery market chains Asda and Ocado, as well as online. “Previously, the product was available in local ethnic sales channels (in the UK), but (by distributing it on major retail channels), more consumers will be able to buy and enjoy Bibigo’s Seaweed Snack,” said an official from CJ CheilJedang, which owns the B
IndustrySept. 14, 2023
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LG CNS joins forces with Korea University to foster AI talent
Information technology service provider LG CNS said Thursday it has inked a deal with Korea University to nurture future talent in the burgeoning field of artificial intelligence and data science. Under the new industrial-academic partnership, a department temporarily named “AI and Data Science” will be set up at Korea University’s graduate school, and students will receive a job offer at the company upon graduation. Starting next year, the department plans to admit over 20 gra
IndustrySept. 14, 2023
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Posco to supply EV parts to Hyundai Motor
Posco International announced Wednesday it has signed with Hyundai Motor Group to supply an additional 3.53 million units of motor core, ramping up its presence in the global mobility industry. Under the contract starting from 2026, Posco International will provide 2.72 million units of motor core to Hyundai Motor Group Metaplant America, the carmaker’s first EV plant in the US, for eight years. The other 810,000 units will be supplied to Hyundai’s EV production at home for 10 years.
IndustrySept. 14, 2023
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Fledgling upcycling startup dreams big to save sea
The coast of Ulsan, a major industrial city in the southeast, was once a site where pods of gray whales were easily spotted, a scene that has become rare as marine pollution and whale hunts took a toll. Among the factors that made the whales disappear, the marine waste issue was what inspired Byun Eui-hyun, CEO of Usisan, to start a business to help clean up the ocean and save the endangered largest animal on Earth from dying from ingesting plastics. "We are the first plastic upcycling comp
IndustrySept. 14, 2023
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Samsung's giant billboards become operational at Vatican
Samsung Electronics Co. has finished installing four LED billboards at St. Peter's Square in the Vatican, where the Pope gives his weekly address. Samsung's billboards became operational in time for the Papal Audience, the general audience session held every Wednesday morning for Catholic followers and tourists visiting the revered sanctuary. A Samsung delegation visited the Vatican to meet Pope Francis on Wednesday morning to mark the installation, before meeting Cardinal Lazarus You
IndustrySept. 14, 2023
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SMEs agency aids local firms' entry into overseas markets
The Korea SMEs and Startups Agency is supporting local firms to enter overseas markets, with 30 medium-sized companies receiving overseas media promotion and marketing services in the most recent campaign carried out in August. The campaign was conducted in partnership with a global communication company with an extensive PR network worldwide. English-language releases on the selected 30 companies were distributed to North American online media outlets, including newspapers, broadcasters, teleco
IndustrySept. 14, 2023
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Seoul shares start higher on eased rate hike woes
South Korean stocks started higher Thursday as concerns over a further rate hike by the Federal Reserve were eased despite higher-than-expected US inflation data. The benchmark Korea Composite Stock Price Index rose 12.99 points, or 0.51 percent, to 2,549.69 in the first 15 minutes of trading. The US consumer price index rose 3.7 percent in August from a year earlier due to high-flying oil prices. But analyst said the US central bank is expected to keep its key rate steady at the upcoming rate-s
MarketSept. 14, 2023
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Industry minister nominee vows swift restoration of nuclear energy ecosystem
South Korean Industry Minister nominee Bang Moon-kyu vowed Wednesday to expedite efforts to restore and further develop the ecosystem of the country's nuclear power generation industry to better achieve net-zero goals and energy security. During a parliamentary confirmation hearing, Bang also pledged efforts to boost exports amid unfavorable global business circumstances and to strengthen cooperation with the United States, Japan and other partners on stable supply chains in advanced indu
PoliticsSept. 13, 2023
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[Contribution] The beginning of 50 more years with Indonesia
By Woo Tae-hee Indonesia, a large economy with a population of 270 million people and an average age of 29, has impressively sustained an annual growth rate exceeding 5 percent in recent years. In 2018, Standard Chartered projected that Indonesia would become the world’s fourth-largest economy by 2030. Moreover, Indonesia is a nation endowed with abundant natural resources. Notably, the recent surge in the electric vehicle market has generated a huge demand for nickel, of which Indon
EconomySept. 13, 2023
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SPC’s Paris Baguette secures bigger footing in North America
South Korean bakery giant SPC Group said Wednesday that it is opening nine new Paris Baguette stores in North America this month, seeking a bigger footing in one of the key strategic markets. With the planned nine new openings, SPC will be operating a total of 150 stores in the region. In Canada, SPC will open a Paris Baguette store at the Southpark on Whyte, a residential complex located in Alberta on Friday, while another outlet is set to open in Newmarket, Ontario, next week. In the US, seven
ConsumerSept. 13, 2023
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S. Korea, Africa bolster ties for growth
Economy-related public officials from South Korea and Africa gathered in Busan to attend the 7th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference, discussing ways to bolster the economic cooperation between two entities and explore new business opportunities. The event, organized by the African Development Bank Group (AfDB), South Korea’s Ministry of Economy and Finance and the Export-Import Bank of Korea, kicked off on Tuesday in the southern port city of Busan. The four-
EconomySept. 13, 2023
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$6b financial package unveiled to empower African nations
South Korea's Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho on Wednesday announced a financial package of approximately $6 billion in support for Africa to be provided by 2025, at the 2023 Korea-Africa Economic Cooperation (KOAFEC) conference held in Busan. This biennial conference, spanning four days from Tuesday to Friday, is jointly hosted by the African Development Bank, the Export-Import Bank of Korea (Eximbank) and Ministry of Economy and Finance. The new fin
IndustrySept. 13, 2023
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[Contribution] Vintage audio is not a prop
By Winter Choi Visit the trendiest places and you’ll be bound to see them: turntables flanked by 33’s, album art on the wall, maybe even a ghettoblaster if you’re lucky. Retro audio formats have enjoyed a comeback in recent years. And with people spending more time at home during the pandemic – and spending more money on goods than experiences – sales are higher than ever. But are people buying physical formats for the music, or only to display them on a shelf? Classic audio
TechnologySept. 13, 2023
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Hyundai Motor, labor union reach tentative agreement on wage increase
Hyundai Motor Group said Wednesday it has signed a tentative wage agreement with the company’s labor union, extending their strike-free negotiation streak to five consecutive years. The management and labor union members including Lee Dong-suk, president of the domestic production department at Hyundai Motor Group, and the company’s union representative Ahn Hyun-ho carried out the 21st round of negotiations at the Ulsan plant on Tuesday. The key agendas on the table were the wage hik
MobilitySept. 13, 2023
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[Photo News] McLaren 750S unveiled
Head of Asia Pacific at McLaren Charlotte Dickson (second from left), McLaren Seoul CEO Lee Tae-heung and other executives pose for a photo next to the McLaren 750S to celebrate its launch in Korea, in Seocho-gu, Seoul on Wednesday. The spider model features a more advanced weight-saving option, powertrain performance and dynamic driving experience than the renowned 720S coupe, according to the company. “With the new 750S, the British luxury sports car brand plans to expand its footing in
MobilitySept. 13, 2023
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[Photo News] Sold out
Samsung Electronics said Wednesday that more than 110,000 people applied to order the Galaxy Z Fold5 Thom Browne Edition during the seven-hour lottery event held via its website on Tuesday. The limited-edition bundle, priced at 4.29 million won ($3,230), includes a phone, a smartwatch and accessories featuring the American fashion house’s color scheme. (Samsung Electronics)
IndustrySept. 13, 2023
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Incheon Airport plans W1.2tr massive renovation
Incheon Airport's Terminal 1 will undergo a 1.2 trillion won ($903 million) refurbishment starting from next year, the airport's operator said Wednesday. Separately, it added that it would seek to attract Chinese travelers, whose travel demand is expected to surge amid China’s recent lifting of a group travel ban to South Korea. “After conducting an open survey of Terminal 1’s facilities’ operational status, Incheon Airport will conduct a comprehensive repair of
MobilitySept. 13, 2023