Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Korea enters full election mode
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Immigrant woman stabbed to death by Korean husband
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Herald Interview] Son Suk-ku chooses to be swayed by others in navigating life
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Seoul’s bus union prepares for strike
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Korean Air to sign $13.7 bln deal to buy 33 Airbus A350 jets
Korean Air Co., South Korea's No. 1 flag carrier, said Thursday it plans to sign a $13.7 billion deal with Airbus to buy 33 units of its latest A350 series aircraft. The company said the deal, which includes 27 A350-1000s and six smaller-sized A350-900s, will be clinched to supplement its long-term fleet operations as it retires its older aircraft. The A350-1000 is the largest in the A350 family, accommodating up to 410 passengers, and uses advanced composite materials to reduce fuel cons
IndustryMarch 21, 2024
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Samsung Display to pay out dividends for 1st time
Samsung Display Co. said Thursday it will pay out dividends for the first time since its establishment in 2012, a move that will lead its parent company Samsung Electronics Co. to receive about 5.6 trillion won ($4.2 billion) in dividends. At a shareholders' meeting Tuesday, Samsung Display decided to deliver 25,400 won per share in dividends totaling 6.65 trillion won, the company said in a regulatory filing. Samsung Electronics is the top shareholder of Samsung Display with an 84.8 perc
CompaniesMarch 21, 2024
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Police officer arrested on suspicion of leaking drug probe info over late actor Lee Sun-kyun
A police officer was arrested Thursday for allegedly leaking information on a drug probe into late actor Lee Sun-kyun, who took his own life late last year, police said. The Gyeonggi Nambu Provincial Police's anti-corruption and financial crime unit arrested the officer at the Incheon Metropolitan Police Agency earlier in the day on suspicion of leaking a report on the investigation regarding Lee, according to investigative officials. In January, police began looking into how the informat
Social AffairsMarch 21, 2024
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Gyechon to celebrate 10th anniversary with Cho Seong-jin, Kim Sun-wook, Baik Kun-woo
Pianist Cho Seong-jin and Kim Sun-wook are set to take the stage together at the 10th Gyechon Classic Music Festival, slated to take place from May 31 to June 2. Both Cho and Kim are celebrated pianists but this time Kim, the artistic director of the Gyeonggi Philharmonic Orchestra, will take the stage as a conductor, marking the first time the two will perform on stage together as a pianist and conductor. The duo’s collaboration, a performance of Shostakovich's Piano Concerto No. 1
CultureMarch 21, 2024
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SK chief wins 2nd term as KCCI chair
SK Group Chairman Chey Tae-won was elected to head the Korea Chamber of Commerce and Industry, the nation's largest business lobby, for a second term, vowing to make more policy proposals to bring about disruptive innovation across industries. Chey was sworn in as the 25th chair of the KCCI after earning unanimous support from regional chamber leaders at the extraordinary general meeting held in Seoul on Thursday. He will serve his new three-year term until March 2027. In his inaugural re
IndustryMarch 21, 2024
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Seoul rises one spot to 10th in Global Financial Centres Index
Seoul ranked 10th out of 133 cities in the 35th edition of the Global Financial Centers Index report, released Thursday afternoon, overtaking Paris, Beijing and Tokyo. The index has been published biannually since 2007 in March and September by the Z/Yen Group, a London-based think tank, in collaboration with the China Development Institute, to evaluate the international financial competitiveness of cities globally. The GFCI report is compiled based on five evaluation criteria -- human capital,
Social AffairsMarch 21, 2024
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[Today’s K-pop] Blackpink tops 600m views with ‘Shut Down’ music video
Blackpink amassed 600 million views on YouTube with the music video for “Shut Down,” said label YG Entertainment on Thursday. It is the group’s 15th video to reach the milestone and achieved the feat in about 1 1/2 years. “Shut Down” fronted its second studio album, “Born Pink,” and the hip-hop tune sampling Paganini’s “La Campanella” hit Billboard’s Hot 100 at No. 25. It also landed atop Spotify’s global songs chart. The
K-popMarch 21, 2024
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Galleria's foreign customer sales surpass pre-pandemic levels
Galleria Department Store, one of the nation’s leading luxury goods retailers, said Thursday that its sales to customers of foreign nationality soared to all-time highs in the first two months of this year, surpassing pre-pandemic levels. Its luxury brand stores posted 10 billion won ($8.4 million) and 7.5 billion won in sales to foreign customers in January and February, respectively, marking a 166 percent jump from the same period last year. "Foreign customer sales hit 26 billion wo
IndustryMarch 21, 2024
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[Herald Interview] Mercedes-Benz focused on ‘great brand experience’
Mercedes-Benz was dethroned by BMW as the top auto importer in South Korea last year for the first time since 2015. Despite the quantitative loss, Mercedes-Benz Korea CEO Mathias Vaitl says the focus is to offer a great brand experience for the customers. “Our strategy is not to be No. 1 here in the market,” said Vaitl in an interview with reporters from the Korea Automobile Journalists Association at the Korean office of Mercedes-Benz in Seoul on Wednesday. “We are the stronge
MobilityMarch 21, 2024
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Popular Gyeongbokgung nighttime tours return in April
Tickets for nighttime tours of Gyeongbokgung, the main Joseon royal palace, go on sale online at 2 p.m. on Friday, with the first round of the highly popular tours starting April 3. Available through Ticket Link, the tickets cost 60,000 won ($45). The ticket covers a royal “dosirak,” or a boxed meal of dishes enjoyed by the Joseon (1392-1910) royals, followed by a guided tour of the palace’s northern side. The first round of tours will take place April 3 to April 21, twice dail
TravelMarch 21, 2024
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Registration opens for English temple stay
Registration opened Monday for an English temple stay program for foreign nationals seeking a time out from urban life. The first 1,000 applicants who book the overnight stay at eng.templestay.com will be able to participate in the program priced at 30,000 won ($22) from April 1 to July 31, according to the Culture Corps of Korean Buddhism -- an arm of the Jogye Order of Korean Buddhism, the largest local Buddhist sect. “This is the definitive content we can offer as Korean tradition, rega
TravelMarch 21, 2024
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Chang In-wha takes helm at Posco
Chang In-hwa, a company veteran, officially took office as chairman of South Korean steel giant Posco Group, the nation’s fifth-largest conglomerate, on Thursday after winning unanimous approval from shareholders. It marked the group’s first change in leadership in almost six years, following the conclusion of the second term of Choi Jeong-woo. No objection was made against the appointment during the general meeting of shareholders held in Seoul earlier in the day. Right after the ge
IndustryMarch 21, 2024
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Merck to invest 300m euros in new bioprocessing center in Korea
German pharmaceutical group Merck Life Science said Thursday the company will invest around 300 million euros ($326 million) to build a new bioprocessing complex in South Korea, its largest investment yet in the Asia-Pacific region. The new investment comes as the company renews its commitment to expanding its production capacities for biotech products in the fast-growing market. It also aims to boost the overall biotech industry in the region, saying the new facility alone will create some 300
IndustryMarch 21, 2024
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Mailman dumps thousands of pieces of mail, says he was 'overworked'
A South Korean mailman recently received a six-month prison sentence, suspended for two years, for dumping 16,003 pieces of mail due to stress from an excessive amount of work, a court said Thursday. The 37-year-old defendant surnamed Lee, who was delivering mail in Gangseo-gu, western Seoul, was found to have discarded the mail between January 2021 and September 2022. The Seoul Southern District Court found Lee guilty of violating the Postal Service Act, Article 48 of which stipulates that any
Social AffairsMarch 21, 2024
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S. Korean shares jump over 2% on hopes for US rate cuts; won sharply up
South Korean shares rallied by more than 2 percent Thursday amid growing hopes for US rate cuts in the near future. The local currency also rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index surged 64.72 points, or 2.41 percent, to close at 2,754.86, the highest in nearly two years since April 5, 2022 when the index closed at 2,759.20. Trade volume was heavy at 811.8 million shares worth 13.8 trillion won ($10.4 billion), with gainers outnumbering losers 655 to 2
MarketMarch 21, 2024
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Korea sighs in relief on US Fed's dovish signal
While the possibility of the US Federal Reserve cutting its base rate three times this year has sent Seoul shares higher, the Bank of Korea is likely to start bringing down its key rate in July, experts viewed. Through a two-day Federal Open Market Committee meeting, the US Fed maintained its benchmark lending rate to stand in the 5.25-5.5 percent range. Though the rate freeze had been expected by the market, the global stock market, including that of Korea, rallied as the Fed stuck to its dovis
EconomyMarch 21, 2024
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HD Hyundai honors late founder
HD Hyundai commemorated the 23rd anniversary of the passing of its founder, Chung Ju-yung, with a dedicated memorial event held Thursday that paid homage to his enduring legacy. The tribute took place at the HD Hyundai Global Research and Development Center in Seongnam, Gyeonggi Province, and was marked by a traditional statue unveiling ceremony in memory of the late founder. HD Hyundai Chairman Kwon Oh-gap, Vice Chairman Chung Ki-sun, and executives from affiliates attended the ceremony. The ce
IndustryMarch 21, 2024
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Hanwha develops extra-high voltage cable compound
South Korean petrochemical firm Hanwha Solutions said Thursday it has developed a proprietary extra-high-quality voltage cable compound to meet the surging global demand for advanced power grid infrastructure. Petrochemicals, derived from petroleum or natural gas, form the basis for advanced polymers used as insulation in extra-high-quality voltage cables. The company’s innovation is Cross-Linked Polyethylene, or XLPE, which enhances the heat resistance and efficiency of power cables throu
IndustryMarch 21, 2024
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NK's illicit cyber activities fund 40% of WMD program: UN report
North Korea is suspected of pocketing $750 million in cryptocurrency just last year, with profits from illicit cyber activities purportedly accounting for 40 percent of financing for the country's prohibited weapons of mass destruction programs, according to a report by the UN Panel of Experts. The final annual report released Wednesday stated that during the reporting period from July 2023 to January of this year, North Korea's cyber threat actors continued to target the virtual asset
Foreign AffairsMarch 21, 2024
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SK Bioscience exports cell-cultured flu vaccines to Thailand
South Korean pharmaceuticals firm SK Bioscience said Thursday that it exported its cell-cultured flu vaccine, SKYCellflu, to Thailand, marking its first entry into a market with southern hemisphere requirements. The company shipped out approximately 440,000 doses of SKYCellflu to its Thai partner Biogenetech from its vaccine manufacturing facility in Andong, North Gyeongsang Province. SKYCellflu, the world's first cell-cultured flu vaccine endorsed by the World Health Organization, aligns w
IndustryMarch 21, 2024