Kim Jun, CEO of South Korea’s largest energy company SK Innovation, reaffirmed the company’s commitment to go net zero with more detailed action plans to be implemented across the firm. In a recent interview with the firm’s official news channel SKinno News, Kim revealed that this will be the first year to begin implementation of its greenhouse gas emission reduction plan called “All Time Net Zero.” The All Time Net Zero vision was announced last year during the 60t

Artificial intelligence engine makes decisions through module processing

South Korea and Australia have agreed to extend their currency swap agreement by another five years, which was signed to help increase trade and improve financial stability. Under the extension, the Bank of Korea and the Reserve Bank of Australia can exchange their local currencies up to 9.6 trillion won or 12 billion Australian dollars ($7.69 billion). The deal follows the previous agreement made in February 2020. The initial currency swap agreement between South Korea and Australia was signed

Korean pharmaceutical firm Chong Kun Dang said Monday that it signed a licensing deal with Dutch company Synaffix to gain access to the latter's technologies needed to develop new antibody drug conjugates. The size of the deal, which was inked Friday, is estimated at around $132 million, plus tiered royalties on commercial sales in the future. “The company will speed up development of next-generation anti-cancer treatment through the latest deal with Synaffix,” said Chong Kun Da

Seoul shares ended lower Monday, as strong US jobs data fueled fears of further rate hikes to tame inflation. The Korean won fell sharply to a monthly low against the US dollar. The benchmark Korea Composite Stock Price Index fell 42.21 points, or 1.7 percent, to close at 2,438.19 points. Trading volume was moderate at 554 million shares worth some 7.54 trillion won ($6 billion), with decliners outnumbering gainers 464 to 416. On Friday, the Dow Jones Industrial Average dropped 0.4 percent, and

Concerns grow over teenagers using cheap, quasi-motels; experts say proper sex education is needed instead of telling them just not to go

  French President Emmanuel Macron's recent proposal to raise the retirement age from 62 to 64 is believed to be the optimal solution to tackle the country's soon-to-run-out public pension reserves, French economist Philippe Aghion said during an interview with The Korea Herald on Jan. 24. "The best way to deal with the pension deficit is to increase how much time you spend in life working, and that’s what the reform (in France) intends to do – increase the number of years

Military police said Monday they had launched an investigation after a report that a sergeant had abused a soldier with a motor drill. According to a military statement, a sergeant at a unit located in the greater Seoul metropolitan area was reported Sunday for using a motor drill on the arm of a soldier on Friday. The names of the perpetrator and victim have not been disclosed. The sergeant appeared at the unit's cafeteria with a motor drill in his hand and, without warning, began to drill

SAN FRANCISCO -- Samsung Electronics is hoping to expand its presence in the laptop market where it remains a tiny player, as people are replacing their laptops more frequently. “The replacement cycle of laptops is getting shorter from the previous lifespan of five years on average since the electric devices are turning into true ‘personal computers’ during the pandemic years,” said Lee Min-cheol, corporate vice president of Samsung’s mobile experience division, dur

South Korea’s main opposition the Democratic Party of Korea on Monday tabled a motion to impeach Minister of Interior and Safety Lee Sang-min over the deadly crowd crush in Seoul’s Itaewon on Oct. 29, 2022. The impeachment motion was submitted on the grounds that Lee failed to carry out measures to prevent crowd congestion or to work with concerned institutions in the event of mass disasters. The safety minister did not respond in time as the crowd surge turned into a mass-casualty e

ANKARA, Turkey — A powerful 7.8 magnitude earthquake hit southeast Turkey and Syria early Monday, toppling buildings and sending panicked residents pouring outside in a cold winter night. At least 207 people were killed in both countries, hundreds were injured and the toll was expected to rise. Rescue workers and residents frantically searched for survivors under the rubble of crushed buildings in multiple cities on both sides of the border. In one quake-struck Turkish city, dozens pulled

Overturning lower court decision, Daejeon High Court rules 14th century statue belongs to Japanese temple

K-pop boy group Enhypen successfully wrapped up its first world tour “Manifesto” in the Philippines' capital Manila on Sunday. Starting from Seoul last September, the septet visited a total of 12 cities around the world and held 22 concerts over the past 5 months. The group proved its global popularity, selling out 19 of 22 world tour gigs despite it being their first. In Japan alone, the act attracted 140,000 fans to their eight concerts held in the country. In particular, Enhy

SK ecoplant, the engineering and construction unit under SK Group, announced Monday that its North American unit has been renamed from BETEK to SK ecoplant Americas as part of efforts to renew its commitment to the all-important market. Under the new name, SK ecoplant Americas plans to ramp up efforts to expand its presence in environment and energy sectors, as well as existing fuel-cell businesses. Its core fuel-cell business, based on a value chain from product development to application techn

The Industrial Bank of Korea will open an office in Poland in the first half of this year as part of its overseas expansion into the European market, the state-run lender said Monday. On Jan. 24, the company submitted a license approval application for the Polish office to local financial supervisory authorities. The establishment of the Polish office, which had been delayed due to the COVID-19 pandemic and the Ukraine crisis, is one of the priority items under IBK Chairman Kim Seong-tae's