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South Korea’s high-end entertainment industry marked 624 billion won ($469 million) in sales with corporate credit cards last year, with over half spent in hostess clubs. The sales, supposedly generated for entertainment in business dealings, increased by 61 billion won from the previous year’s ...
South Korean biotech firm SK Bioscience said Friday it hosted a topping-out ceremony at the construction site of its Global Research and Process Development Center in Songdo, Incheon, Monday. In 2021, SK Bioscience signed a land contract with the Incheon Free Economic Zone authority to acquire par...
South Korean food giant Pulmuone said Thursday that it has become the first Korean food company to introduce frozen gimbap into the Chinese market by selling its products at a leading retailer there. Pulmuone’s Tuna Kimbap, sold in packs of three rolls, is now available at Sam's Club, which opera...
Hanwha Group, including its key divisions Hanwha Ocean, Hanwha Engine and Hanwha Power Systems, will also present their innovations at Gastech 2024. Hanwha Ocean will reveal a model of the world’s first ammonia gas turbine-powered LNG carrier, set for completion by 2028. Unlike traditional engines...
By Kan Hyeong-woo ( hwkan@heraldcorp.com )
Over the possibility of the US imposing new export restrictions on HBM sales, Korean Trade Minister Cheong In-kyo said the government is expected to talk with the US over the matter. "When two of the three companies (making HBM) are Korean, (export curbs) can have a big impact on us,” the trade m...
Cash-strapped e-commerce platforms Tmon and WeMakePrice have managed to avoid bankruptcy by commencing the corporate rehabilitation process, which will enable the two companies to restructure their debts to over 100,000 creditors under the oversight of court-appointed custodians. The Seoul Rehabil...
South Korea’s leading container shipper HMM said Tuesday it has created a five-year cooperative body, dubbed Premier Alliance, together with two global partners Japan’s ONE and Taiwan’s Yang Ming, to further expand its vessel route network. Separate from the new alliance, the firm has also sign...
South Korean electric wire maker Taihan Cable & Solution announced Tuesday that it has completed Kuwait’s first fiber optic cable factory, as the company aims to localize production and tap into the Middle East’s growing demand for 5G network infrastructure. The factory, a joint venture with Kuw...
South Korea’s shipbuilding industry is bracing for the conclusion of a high-profile police investigation into alleged corruption surrounding the Korea Destroyer Next Generation (KDDX) project, with results expected as early as mid-September. The outcome could determine whether the delayed selectio...
Celltrion Group Founder and Chairman Seo Jung-jin has announced plans to expand the company's pharmaceutical production facilities either in South Korea or abroad as part of its strategy to enter the contract development and manufacturing organization sector. The biosimilar giant also aims to comme...
LS Cable & System CEO Koo Bon-kyu has pledged to achieve 10 trillion won ($7.5 billion) in sales by 2030 by accelerating business expansion abroad. “Joining hands with (our subsidiary) LS Eco Energy, we will set up our global production bases in Europe, Asia and North America,” Koo said during a...
HD Hyundai said Monday that it is participating in the REAIM Summit, a global military conference, held at the Lotte Hotel in Jung-gu, central Seoul, this week. REAIM Summit 2024 is an international multilateral event where 90 countries are presenting their uncrewed vessel technologies and discuss...
South Korean energy and environmental solutions provider SK Ecoplant said Monday that it has secured over $98 million by selling its stake in the American battery recycling firm Ascend Elements, as part of its initiative to restructure its recycling business portfolio. SK Ecoplant had invested ove...
Paper firms fined W30b for colluding on newsprint prices
Main opposition pushes to ease, not postpone, tax on crypto gains
Koreans' overseas investments exceed foreigners' local investments for the first time
Mercedes-Benz Korea helps startups expand globally
[From the Scene] Gigantic Olive Young store lures young trend-setters in Seongsu
Korean Air offers special flights for mileage users