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South Korea’s gross national income per capita rebounded to over $33,000 in 2023, marking a 2.6 percent rise on-year, while the national economy grew by 1.4 percent, preliminary data from the Bank of Korea showed Tuesday. The GNI per capita, a measure of the amount of money earned per person in a...
According to the Seoul Metropolitan Government’s data, the number of visitors to Yeouido had previously peaked at between 30,000 and 50,000 on Saturdays and Sundays in 2020. But after The Hyundai Seoul’s launch in February 2021, the figure started to rise despite the social distancing rules duri...
The AAM is a concept that encompasses urban air mobility (UAM) that moves short distances within the city, regional air mobility that connects regional bases and an unmanned aircraft system that transport logistics. Under the agreement, Hyundai Motor Group decided to give priority consideration to...
LG Energy Solution said Tuesday that KooRoo, its company-in-company operating the battery swapping station business for electric two-wheelers, is kicking off full-scale operations following a successful pilot program. KooRoo's service allows users to easily swap the depleted batteries of electric ...
South Korea's industry ministry said Tuesday it has discussed ways to enhance bilateral cooperation in the semiconductor sector with the U.S. chipmakers' trade association. Deputy Minister for Trade Yang Byeong-nae met with John Neuffer, the president of the Semiconductor Industry Association (SIA...
Major South Korean builder Daewoo Engineering & Construction (Daewoo E&C) said Tuesday it has successfully conducted a 150 million-Singapore dollar ($111 million) bond sale in the city-state. The five-year bonds, which have received an AA rating from global rating appraiser Standard & Poor's Globa...
In a whirlwind of fierce competition, Chinese e-commerce powerhouses AliExpress and TEMU have been dampening the once-vibrant spirit of retail business startups in Korea. The surge of Chinese e-commerce companies has delivered a significant blow to Korea's startup scene. Their mega-scale, low-cos...
The rise of such specialized offices follows warnings from local financial authorities regarding a significant reduction in branch numbers. According to data from the Financial Supervisory Service, the top four commercial banks -- KB Kookmin, Shinhan, Hana and Woori -- operated 2,824 offline branch...
Hugel, a South Korean botulinum toxin company, announced Monday that the US Food and Drug Administration has granted marketing approval for the company’s botulinum toxin, Letybo. Hugel expects to launch Letybo in the US in mid-2024. "The Canada launch of Letybo last year laid a solid foundation ...
Korean automakers are grappling to maintain their export momentum due to a shortage of car carriers to transport them, driven by the increasing volume of Chinese automotive exports and stringent maritime environmental regulations. The scenario has led to an unprecedented rise in the cost of charter...
A subway station in Kuala Lumpur, Malaysia, was renamed “Samsung Galaxy Station“ on Feb. 29 as part of the tech giant’s big push into the Southeast Asian market. Samsung said Monday that Tun Razak Exchange Station, the nation’s largest interchange station, was renamed TRX Samsung Galaxy Statio...
Hanwha Foodtech has acquired the US-based robot pizza brand, Stellar Pizza, as part of its efforts to drive technological innovation in the food service industry. In January, Hanwha Foodtech signed a memorandum of understanding with Serve Automation, the parent company of Stellar Pizza, for a tran...
Hana Bank, a leading commercial bank in South Korea, unveiled Monday the latest upgrade to its tailored banking app for foreign exchanges, Hana EZ, with a focus on delivering an enriched and user-friendly mobile banking experience for foreign residents in the country. A key improvement lies in the...
Kumho Tire, South Korea's second-largest tire maker, said Monday it has forged a technology licensing agreement with Saudi Arabian tire maker Blatco. Under the agreement, Kumho Tire will provide Blatco with technology support for the production of passenger car tires sold in Saudi Arabia and the M...
South Korean shipper HMM said Monday it has signed a "green sailing service" deal with German logistics firm HellMann for the trading of reduced carbon emissions. HMM, South Korea's top container shipping company, said it marks the company's first-ever green sailing service contract. HMM didn't di...
Celltion’s Zymfentra gets preference in top US formulary
Intel CEO to visit Seoul in June
Korean franchises eye Japan, riding high on K-food trend
[Herald Interview] Mom’s Touch seeks to replicate success in Japan
Hanwha Systems breaks ground on satellite center in Jeju
BNEF names Hyosung Heavy as top ESS supplier