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The Korea Herald

Industrials

October 27, 2024
[From the scene] KGC's ginseng harvest season in full swing

The product has also hit the shelves of major retailers in the US, China, Japan, Southeast Asia and Europe, and it has become a popular pick for tourists at duty-free shops here. “Foreign consumers offer positive reviews, citing red ginseng’s all-natural, caffeine-free and gluten-free qualities,...
October 27, 2024
Hanwha, HD Hyundai vie for Poland’s $2.7b submarine program

Szubrycht also visited Hanwha Ocean’s Geoje shipyard in South Gyeongsang Province on the previous day, inspecting the shipbuilder’s submarine-building site, technological education center and research and development facilities. Hanwha Ocean officials explained plans to train submarine crew memb...
October 27, 2024
Posco completes Argentina’s first lithium hydroxide plant

Posco Holdings announced Sunday it has completed the first phase of its lithium hydroxide plant in Argentina, a key step in securing a stable supply of the key material for electric vehicle batteries. Located in Guemes, Argentina, the plant will produce 25,000 tons of lithium hydroxide annually, s...
October 27, 2024
Lulumedic explores digital health collaboration with Russia

Lulumedic, a leading South Korean health care IT company, met with Alexey Sapetko, the Russian Trade Representative in Korea, to discuss promising opportunities for collaboration in digital health, the company said Thursday. The discussion focused on the growing interest among Russian patients in ...
October 27, 2024
Shinhan Financial net profit up nearly 4% in Q3

Shinhan Financial Group, one of the country's top financial providers, posted lower-than-expected earnings for the July-September quarter, hit by the derivative fiasco from its brokerage arm. The financial group announced Friday that its net profit for the third quarter recorded 1.23 trillion won ...
October 27, 2024
Woori Financial’s cumulative Q3 earnings increases by 9.1% on-year

Woori Financial Group announced Friday its cumulative net profit stood at 2.65 trillion won ($1.9 billion), marking a 9.1 percent surge from the same period last year. The figure surpasses last year’s yearly earnings of 2.5 trillion won. The financial service provider posted 903 billion won net i...
October 27, 2024
[From the Scene] How robotics reflect shift in S. Korea's food industry

Kyochon’s robot cooks are controlled through a Wi-Fi-connected tablet, allowing operators to select cooking times based on specific recipes. The robots handle various tasks such as frying, shaking off excess oil and transferring the cooked chicken to trays. "Previously, there were times we’d forg...
October 25, 2024
Hanwha Ocean strengthens partnership with US Navy

Hanwha Group is seeking further cooperation with the US Navy, to build on ongoing projects. The group said on Friday that Hanwha Group Vice-president Kim Dong-kwan and US Pacific Fleet Cmdr. Admiral Stephen Koehler met at Hanwha Ocean’s Geoje site on the previous day and discussed ways for furthe...
October 25, 2024
Soccer legends impress fans at 2024 Nexon Icons Match

More than 4 million fans gathered to watch a match featuring legendary soccer players hosted by Nexon, the game developer that published the FIFA Online series, the firm said Friday. For the Nexon Icons Match event, held at Seoul World Cup Stadium from Oct. 19-20, players were split into two teams...
October 25, 2024
NCSoft changes game development to multistudio system

South Korean gaming giant NCSoft said Friday it has decided to separate three of its intellectual properties and establish an independent game development studio system. This move is part of its efforts to strengthen its global competitiveness by adopting a multistudio system. In a bold move to ac...
October 24, 2024
SK Innovation replaces heads of key subsidiaries

SK Innovation said Thursday that three of its key subsidiaries -- SK Energy, SK Geocentric and SK IE Technology -- have appointed new company heads with technological expertise to tackle business uncertainties and strengthen core competitiveness. The announcement comes eight days before the mega-m...
October 24, 2024
Why ex-Elliott activist fund is building stake in SK

London-based hedge fund Palliser Capital was recently found to have held a stake of more than 1 percent in SK Square, the investment arm of SK Group, for years, triggering speculation about another round of activist campaigns against the nation’s second-largest conglomerate. According to industry...
October 24, 2024
Doosan Enerbility to support Kazakhstan's energy modernization

Doosan Enerbility has signed an agreement with Kazakhstan’s Ministry of Energy to help modernize the country’s power infrastructure, the Korean nuclear power plant builder announced Thursday. The memorandum of understanding was formalized during a Wednesday visit by Kazakhstan’s Energy Minister...
October 23, 2024
[From the Scene] S-Oil’s Shaheen project on track for 2026 completion

ULSAN -- The construction site of S-Oil’s Shaheen project at its Onsan plant in Ulsan showed little to no activity Tuesday afternoon. Although the day’s workflow had seemingly stopped due to heavy downpours in the morning, the officials from S-Oil and Hyundai Engineering & Construction said the b...
October 23, 2024
Debt-ridden Kepco raises electric bills for businesses

The state-run Korea Electric Power Corporation on Wednesday decided to raise industrial electricity rates by an average of 9.7 percent from Thursday, prompting immediate complaints among local businesses already reeling from rising costs and unfavorable foreign exchange rates. "The government and ...

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