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The Korea Herald

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October 26, 2022
Lawmaker claims Netflix Korea may have been evading tax

Netflix Korea, a Korean subsidiary of the global streaming platform Netflix, saw over 1.2 trillion won ($836 million) in sales for last three years but paid only 0.5 percent of its revenue in tax, a ruling party lawmaker said on Tuesday, raising suspicion that the US company may have been evading l...
October 26, 2022
Eximbank kicks off annual development cooperation workshop

The Export-Import Bank of Korea (Eximbank) kicked off its 26th Economic Development Cooperation Fund Annual Workshop on Tuesday, in which 14 government officials from 14 different developing countries are participating. The EDCF Annual Workshop is hosted by Eximbank to introduce development office...
October 26, 2022
Mercedes-Benz CSR Committee continues to reach out to communities in need

Mercedes-Benz Korea has donated vehicles to local communities for seven consecutive years as part of its social outreach project called Mercedes-Benz All Together, according to the company on Tuesday. Mercedes-Benz Korea launched its Mercedes-Benz CSR Committee in 2014 to make a systematic and con...
October 26, 2022
Overseas flight bookings soar over 14-fold, with half heading to Japan

Overseas flight bookings skyrocketed during the first three weeks of this month by 1,336.3 percent compared to the same period last year, according to Interpark on Tuesday. The noticeable increase of overseas travel bookings comes after COVID-19 travel restrictions have been lifted not only in Sou...
October 26, 2022
Renault's QM6 becomes newest addition to police fleet

Renault Korea said Tuesday it has supplied 67 of its popular sport utility vehicle QM6 to law enforcement, to be used by local detectives and riot police officers. Renault Korea’s QM6 model was recognized by police officials as being fit for police operations for its low noise levels and spacious...
October 25, 2022
Chip firms invested 10 times more in China than US: lawmaker

SEJONG -- South Korea’s chipmakers are likely to suffer losses from US sanctions against the Chinese semiconductor industry, as Korea has invested far more in China than the US, an opposition lawmaker said Monday. According to data handed over to Rep. Kim Hoi-jae of the Democratic Party of Korea ...
October 25, 2022
Korean Air plane with 162 passengers overruns runway at Cebu Airport

A Korean Air plane overran a runway at the Cebu International Airport in the Philippines while attempting to land in poor weather late Sunday. No injuries were reported. The flight had 162 passengers and 11 crew onboard. Korean Air flight KE631, which had departed from Incheon to Cebu, had attempt...
October 25, 2022
[Contribution] A new order for transforming our shared oceans

The demand for new marine leisure activities will be met more proactively. While there is increased visitor traffic to coastal regions following the recent popularity of camping at beach sites or increased sea fishing trips, dissatisfaction and complaints from local residents are also increasing du...
October 25, 2022
Uncertainties behind recent liquidity crunch: FSC

A liquidity crunch South Korea is currently facing has to do with multiple factors, mainly led by uncertainties about where the economy is headed amid soaring interest rates and the rapidly depreciating local currency, the country’s top financial policymaker said Monday. “We had prepared the con...
October 25, 2022
Kakao founder considers across-the-board compensation for service blackout

Kim Beom-su, founder of South Korean online platform behemoth Kakao, said Monday that he will consider providing across-the-board compensation for users who suffered damages due to the company’s unprecedented service malfunction caused by a fire at an SK C&C data center on Oct. 15. "We are curren...
October 25, 2022
Posco Holdings’ Q3 operating profit plunges 71% over typhoon damage, dropped steel price

Posco Holdings said Monday that its third quarter operating profit plunged 71 percent to 920 billion won ($363.9 million), largely due to operation suspension and damages from typhoon that hit the company’s steel plant in Pohang, North Gyeongsang Province, last month, as well as the continuously f...
October 25, 2022
Hyundai Motor Q3 sales soar 30% on increased global sales

Hyundai Motor on Monday reported 37.7 trillion won ($26.2 billion) in total sales for the third quarter, an increase of 30.6 percent on-year. It was boosted by a significant increase in global sales, which the automaker forecast would expand in the final quarter as the auto parts supply crunch ease...
October 25, 2022
Korean chipmakers suffer decline in market cap, profitability

South Korean chipmaking giants have suffered a decline in their market capitalization and profitability due to heated competition from Chinese rivals and a heavy tax burden, data showed Monday. Of the world's top 100 chipmakers in the world by average market cap from January to September period, o...
October 25, 2022
KAIST develops brain-machine interface that controls robotic hands just by thought

Researchers at the Korea Advanced Institute of Science and Technology said Monday they succeeded in developing a brain-machine interface system which interprets brain signals to allow patients to control robot hand movements only by thought. By studying the electrocorticograms of epilepsy patients...
October 24, 2022
Koreans spend more on hotels, less on camping trips as pandemic wanes

South Korean accommodation sales in the third quarter rose 142.5 percent compared to the same period in 2020 when COVID-19 pandemic was at its peak, according data provided Sunday by hospitality tech firm Onda. The results revealed lodging firms' sales have been on a constant rise since the pandem...

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