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The Korea Herald

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May 26, 2022
Homegrown Nuri rocket set for 2nd launch on June 15

The second launch of South Korea’s homegrown Nuri rocket will take place on June 15, about eight months after its first blastoff failed to complete its mission in October last year, the Ministry of Science and ICT said Wednesday. The launch control committee, composed of officials at the Science ...
May 26, 2022
Korbit delists luna, vows customer protection

Korbit, one of South Korea’s top four cryptocurrency exchanges, made the decision to delist luna, the sister coin of controversial stablecoin terraUSD, on Wednesday, following in the steps of other top platforms here such as Bithumb and Upbit. The decision comes a day after chiefs of major crypto...
May 26, 2022
Posco’s high manganese steel gets technical approval from ExxonMobil

South Korean steelmaking giant Posco said Wednesday that its high manganese steel which withstands extremely low temperatures has received technical approval from global energy firm ExxonMobil for usage in liquefied natural gas storage tanks. The two firms joined in a technical partnership in 2020...
May 26, 2022
S. Korea becomes world’s 10th largest luxury market: report

With Millennials and Generation Z -- those born from the 1980s onward -- emerging as major players in the luxury industry, South Korea ranked No. 10 in high-end fashion transactions last year, a report showed Wednesday. According to Samjong KPMG, a Seoul-based consulting firm, the country’s luxur...
May 26, 2022
Samsung teams up with Red Hat for memory software development

Samsung Electronics said Wednesday it has partnered with US software company Red Hat to develop software technologies for next-generation memory solutions, as the industry is anticipating the birth of software to be integrated in memory chip hardware. Red Hat, an IBM subsidiary, is known for Red H...
May 26, 2022
5 local airports to resume operating 22 international routes in June

Starting next month, South Korea and Japan will resume flight services between Seoul’s Gimpo and Tokyo’s Haneda airports. Korea Airports Corp. said during its regular briefing Tuesday that it is currently discussing the exact date and immigration procedures with the Japanese government before re...
May 26, 2022
Korea mulls 50-year mortgages for newlyweds

The Yoon Suk-yeol government is considering extending mortgage loan maturity terms for newlyweds and young Koreans aged 19-39 as part of efforts to follow through on a pledge to help young people acquire their homes, amid runaway housing prices in the Seoul metropolitan area. Under the new plan, y...
May 26, 2022
SK Telecom seeks wider applications of crypto chips behind Galaxy Quantum phones

Along with Btree, Seoul-based cybersecurity firm Korea Computer & Systems unveiled plans with SK Telecom to develop a microchip, which incorporate SK Telecom’s QRNG cryptography with the company‘s own image encryption solution. The solution can be used to prevent cyberattacks on drones for milit...
May 26, 2022
Samsung SDI, Stellantis to build $2.5b battery plant in Indiana

South Korean battery maker Samsung SDI said Wednesday it is building its first US plant in the state of Indiana along with its joint venture partner Stellantis, joining its crosstown rivals to secure its footing in the burgeoning electric vehicle market. The $2.5 billion plant, located in Kokomo, ...
May 26, 2022
LG CNS lays out 52 real-life applications for AI

South Korean information technology solutions firm LG CNS has come up with 52 real-life applications for artificial intelligence, in line with its move to expand AI-related consulting services, the company said Wednesday. The use cases will allow its clients to better identify what kind of AI solu...
May 25, 2022
Samsung unveils largest-ever W450tr investment for chip supremacy

South Korea’s largest conglomerate Samsung announced Tuesday plans to invest a combined 450 trillion won ($355.8 billion) and create some 1 million jobs in Korea over the course of five years -- the largest ever in the group’s history -- in order to maintain its competitive edge and navigate unce...
May 25, 2022
Kakao, SK Square hit brakes on chauffeur services

For the next three years, South Korean tech giant Kakao and SK Square, the ICT arm of conglomerate SK Group, will be banned from expanding their designated driver service business to make room for small and midsized enterprises entering the market, the Korea Commission for Corporate Partnership sai...
May 25, 2022
Google’s in-app payment policy leads to content price hikes

With Google poised to begin removing applications that disobey its mandatory in-app payment policy from June 2, South Korean content providers are raising consumer charges as the global IT giant’s billing rules require hefty fee rates. Google’s in-app payment system means that consumers must use...
May 25, 2022
Inflation outlook highest in 9 years ahead of rate hike

This month, South Korean households’ outlook for inflation in the next 12 months rose to the highest figure in nine years and seven months, according to a Bank of Korea survey released on Tuesday ahead of its rate decision Thursday. Survey respondents forecast inflation to average 3.3 percent, up...
May 25, 2022
Chaebol groups, startups join hands to reshape corporate culture

From big chaebol groups to fledgling startups, South Korean businesses on Tuesday pledged to work together to revamp the nation’s rigid corporate culture and seek innovation in dealing with social challenges. An event hosted by the Korea Chamber of Commerce and Industry announced the “New Entrep...

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