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The Korea Herald

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February 03, 2023
SK Bioscience's flu vaccine gets approval in Chile

SK Bioscience has obtained product approval for its flu vaccine, Sky Cellflu, from Chile's health authorities, the first green light in a Latin American country, the South Korean vaccine developer said Thursday. Starting with Chile, SK Bioscience is planning to expand the number of countries licen...
February 03, 2023
Cosmetics sales pick up after mask rules eased

Sales of cosmetics products have seen a surge over the past week after the nation’s mask-wearing mandate was lifted here, according to data compiled by Shinsegae International, a local importer of foreign beauty brands, Thursday. US luxury makeup brand Hourglass posted a 149 percent jump in sales...
February 03, 2023
Mask manufacturers face bankruptcy amid eased masking rules

The government’s decision to lift its indoor mask mandate has been welcomed by many, but it is being seen as a giant threat to the survival of mask manufacturers already struggling to stay afloat here. "We are just hanging in there,” Jung, an owner of a small mask manufacturing company, told The...
February 02, 2023
1 in 5 Koreans is Starbucks member

Starbucks Korea, the nation’s No.1 specialty coffee chain, said Wednesday that the cumulative users of its customer membership "Starbucks Rewards" has recently hit the 10 million mark. The figure is twice as high as the 4.1 million members of Twosome Place and the 6 million of Ediya Coffee -- the...
February 02, 2023
Mercedes-Benz Korea pins high hopes on EVs to retain top spot

Mercedes-Benz Korea said Wednesday it will expand electric vehicle models to account for more than 15 percent of total car sales this year, underscoring its green push in the fourth-largest market of the German carmaker. “Last year, EV sales were less than 10 percent of the total sales. But start...
February 02, 2023
Hygiene warning issued for McDonald's stores in Korea

The recent data follows a series of controversies surrounding McDonald's hygiene at franchise stores. On Jan. 25, an online post showing a picture of yarn in a McDonald's McMorning pancake combo stirred controversy. "I bought two McMorning sets with my son, gave him a hotcake, ate a muffin, and a...
February 02, 2023
KT partners with Mongolia's Monnis Group for rare earths

South Korean telecommunications giant KT Corp. announced Wednesday that it has signed a memorandum of understanding with Monnis Group, a Mongolian industrial holding conglomerate, for a joint business venture into the rare earth minerals industry. This comes after another memorandum previously sig...
February 02, 2023
Samsung Galaxy S returns with faster, more eco-friendly design

More color options of graphite, sky blue, red and lime will be added for the Galaxy S23 Ultra, while graphite and lime will be available for the S23 and S23 Plus models for customers who will purchase the devices from the company’s official online shopping mall. The Galaxy S23 Ultra model’s pric...
February 02, 2023
S. Korea logs highest monthly trade deficit amid sluggish chip demand

South Korea reached a record-high monthly trade deficit of $12.69 billion in January, mainly due to weakening global demand for semiconductors, according to data compiled by the Ministry of Trade, Industry and Energy on Wednesday. While outbound shipments fell 16.6 percent on-year to $46.27 billio...
February 02, 2023
SK hynix, hit with first operating loss in decade, to cut spending

South Korean memory chipmaker SK hynix reiterated Wednesday its plan to halve investment and reduce production of low-profit products this year, as the company witnessed a sharp drop in profit amid severe slump in the global chip market. “Revenues continued to grow last year, but the operating pr...
February 02, 2023
HLB's anticancer drug receives greenlight in China

The combination use of Jiangsu Hengrui Medicine’s camrelizumab and HLB Bio’s rivoceranib has received a novel drug approval from the National Medical Products Administration of China, HLB Bio announced Wednesday. With the approval, the camrelizumab-rivoceranib combination can be used as the firs...
February 02, 2023
Geopolitical conflicts pose risk to chip, battery industries: BOK

Central bank warns of negative impact of US-China relations, geopolitical conflicts on Korea's key export industries Korea's export-oriented economy could face threats because of its heavy reliance on raw material imports amid rising geopolitical tensions, a senior researcher at the country's cent...
February 01, 2023
Samsung defies chip price slump, vows to continue investment

Despite witnessing a sharp drop in chip profits, Samsung Electronics said it will not scale back its output and spending in 2023, bucking the trend of cost-cutting among its global rivals. "The deteriorated business environment is not so favorable for our performance for now, but we believe it is ...
February 01, 2023
Posco International kicks off construction of 2nd LNG terminal

Posco International, a subsidiary of steel giant Posco, on Tuesday held a ground-breaking ceremony for its second liquefied natural gas terminal in Gwangyang, South Jeolla Province. The company said the construction will accelerate its vision to become an eco-friendly company by strengthening its ...
February 01, 2023
Hyundai Mobis secures record orders from global carmakers

Hyundai Mobis, a car parts maker under Hyundai Motor Group, announced Tuesday that it received a record-breaking $4.7 billion of orders from global automakers last year. This is the company’s greatest feat since it first entered the international automotive parts market in the early 2000s. The co...

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