Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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Monthly users on local streaming platforms outpace Netflix, Disney+
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Seoul to promote luxurious side of the city
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Jeju Air opts out of Asiana Airlines' cargo division bid
During the bidding process among domestic low-cost carriers for the acquisition of Asiana Airlines' cargo division, Jeju Air, previously considered the front-runner, has chosen not to participate in the bidding. According to industry sources, the main bidding process, organized by financial services firm UBS for the sale of Asiana Airlines' cargo plane division on Thursday, saw the participation of three budget airlines: Eastar Jet, Air Premia and Air Incheon. Jeju Air did not submit a
IndustryApril 26, 2024
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
Analysts say that while the recent feud between Hybe Entertainment and its sublabel Ador could result in short-term fluctuations in Hybe's stock prices, any long-term effects on Hybe's performance will be limited due to Ador's limited contribution to Hybe's overall performance. On Friday, shares of Hybe started at 206,000 won ($149) per share, a 11.7 percent drop compared to when the main bourse, Kospi, opened Monday, when they were 233,500 won per share, before the Hybe-Ador
K-popApril 26, 2024
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Posco Future M, Honda to launch battery materials venture in Canada
Korean battery materials producer Posco Future M has partnered with Japanese automaker Honda Motor to create a joint venture focused on producing cathode materials for electric vehicle batteries in the Canadian province of Ontario to bolster the supply chain for electric vehicles in North America. Under the agreement signed Thursday, the joint venture will supply cathode materials directly to Honda for use in the production of electric vehicle batteries across the continent. They plan to finaliz
IndustryApril 26, 2024
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Samsung mobile chief, Google device head meet in Seoul
Samsung Electronics President and mobile business chief Roh Tae-moon and Google Senior Vice President Rick Osterloh, who oversees the company’s platforms and devices team, met in Seoul on Thursday and discussed ways to strengthen their partnership on artificial intelligence. After a meeting with Roh on Thursday, Osterloh posted later in the day on X, previously known as Twitter, with a picture taken with the Korean tech giant’s mobile chief. “Had a terrific conversation with TM
IndustryApril 26, 2024
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Seoul shares open higher on tech, financial gains
South Korean stocks opened higher Friday as investors purchased techs and financials despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index rose 20.16 points, or 0.77 percent, to 2,648.78 in the first 15 minutes of trading. Overnight, Wall Street lost ground as Meta and other big tech companies retreated as the US economy expanded at a sharply slower-than-expected pace in the first quarter. The S&P 500 dropped 0.5 percent, and the tech-heavy Nasdaq shed 0.6
MarketApril 26, 2024
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LG Chem eyes new leap into top science company
LG Chem, South Korea's leading chemical company, unveiled Thursday a new vision to transform into a global top-tier science company, centering on its three business pillars -- electric mobility, sustainable materials and pharmaceuticals. Under the new vision, it has set an ambitious goal of reaching 60 trillion won ($43.6 billion) in sales by 2030. “LG Chem has achieved more than 10 times the sales growth over the past 20 years by diversifying its business portfolio, from battery bu
IndustryApril 25, 2024
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Hyundai, Kia seek to boost presence in China market
Hyundai Motor Group on Wednesday unveiled a slew of new vehicles at the 2024 Beijing International Automotive Exhibition, ramping up efforts to boost its sluggish presence in the world's largest automotive market. At the Beijing Auto Show, one of the biggest motor shows that has returned in-person after four years, all three brands of the Korean auto giant -- Hyundai Motor, Kia and Genesis -- promised to introduce electric vehicles tailored for Chinese customers. Unveiling the Ioniq 5 N hig
IndustryApril 25, 2024
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Seoul shares dip 1.76 % over tech, battery slump
South Korean stocks plummeted more than 1.7 percent Thursday as investors sought profits following the previous session's sharp rise amid mixed overnight results on Wall Street. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index slumped 47.13 points, or 1.76 percent, to 2,628.62. Trade volume was slim at 304 million shares worth 8.72 trillion won ($ 6.35 billion), with losers outpacing winners 487 to 360. Institutions and foreign investors combined so
MarketApril 25, 2024
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
Hyundai Motor Group has reiterated the importance of India and reaffirmed its commitment to the burgeoning market as its chief visited the world’s most populous country earlier this week. “India, one of the regions that has contributed the most to the growth of Hyundai Motor Group, has overcome many difficulties such as the global economic recession and supply chain crisis during the COVID-19 pandemic period and continuously came up with good performances,” said Hyundai Motor G
MobilityApril 25, 2024
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Korea enters clear growth path as Q1 growth hits 2-year high
South Korea’s economy expanded at the fastest clip in more than two years in the first quarter as private spending and exports picked up, the central bank said Thursday. The country's real gross domestic product grew 1.3 percent on-quarter in the January-March period, accelerating from a 0.6 percent expansion in the fourth quarter last year, according to an advance estimate from the Bank of Korea. The latest GDP figure is a significant improvement from the past eight quarters, during
EconomyApril 25, 2024
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7 out of 10 wealthy Koreans offer grim outlook for 2024
The majority of wealthy South Koreans have a negative outlook on this year's economy, with plans to maintain their current asset portfolios. However, some are considering investing in real estate if the economy improves. These findings are from the "2024 Korean Wealth Report," compiled by a think tank under Hana Bank based on a survey of around 2,600 Koreans conducted in December last year. Of the respondents, 746 with over 1 billion won ($726,000) in financial assets -- including
EconomyApril 25, 2024
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[KH Explains] Korean shipbuilding stocks rally: Real growth or bubble?
Since mid-March, Korea's leading shipbuilders have seen a significant uptick in their stock prices. Despite a sluggish start to the year due to a saturated order book and limited production capacity, renewed optimism has emerged among investors, possibly due to the anticipated benefits from escalating trade tensions between the US and China, along with the depreciation of the Korean won. Whether the trade war is the exact cause is unclear, particularly due to limited American purchasing pow
MobilityApril 25, 2024
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SK hynix profits soar on AI chip boom
SK hynix, the world's second-largest memory chip maker, said Thursday it has returned to profit, thanks to its leadership in advanced memory chips critical to generative artificial intelligence tools, recovering from a long slump in the memory market. The company reported a quarterly operating income of 2.89 trillion won ($2.10 billion) for the January-March period, compared with a loss of 3.4 trillion won marked a year ago. The figure is far higher than the consensus of 1.86 trillion won b
TechnologyApril 25, 2024
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Eximbank to nurture regional development specialists
The state-run Export-Import Bank of Korea said Thursday that it planned to dispatch 34 young regional specialists to 13 developing countries under its Economic Development Cooperation Fund, aimed at cultivating a new generation of experts in global development cooperation. As a member of the OECD Development Assistance Committee, South Korea has long been committed to supporting infrastructure development in emerging economies and crafting innovative models for development cooperation. Initiated
IndustryApril 25, 2024
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[Photo News] Delivery with robot dog
Kia said Thursday that it has recently conducted a pilot project to deliver parcels with Spot, a four-legged robot developed by Hyundai Motor Group-backed Boston Dynamics, as the company seeks new business models in advanced logistics. In collaboration with CJ Logistics, Hyundai E&C and robotics startup D.Hive, Kia loaded Spot onto CJ's parcel electric truck. Once the delivery car arrived in a residential area, Spot carried each package to its destined household. (Hyundai Motor Group)
MobilityApril 25, 2024
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[Photo News] Cleaning the skies
Korean Air conducts its annual aircraft cleaning at its maintenance hangar at Incheon International Airport on Thursday. The Boeing 777-300ER, designated for long-distance routes and boasting the largest fuselage among twin-engine planes in Korea, underwent a meticulous cleaning process to ensure safe and efficient flights. The cleaning process, which encompassed the fuselage, main wing, tail wing and cockpit windshield, took some three hours, with 17 personnel deployed for the task, according t
IndustryApril 25, 2024
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Senior officials from S. Korea, US discuss cooperation in chip industry
Senior trade officials from South Korea and the United States have discussed ways to broaden cooperation in the semiconductor sector, officials said Thursday. Deputy Minister for Trade Yang Byeong-nae met with his US counterpart, Ramin Toloui, in Seoul earlier in the day during which Yang asked Toloui to offer sufficient support for South Korean firms seeking to invest in the US Last week, the US government revealed a plan to grant Samsung Electronics Co. up to $6.4 billion to support its chipma
IndustryApril 25, 2024