K-pop stocks struggle amid scandals, sluggish earnings

K-pop powerhouses are grappling with a loss of growth momentum, with Hybe taking the hardest hit amid ongoing scandals. Hybe, home to K-pop sensation BTS, saw its shares plunge 4.56 percent Wednesday, closing at 163,100 won ($120), the lowest since December 2022. This marked the fourth consecutive day of declines, with the stock down 11.2 percent since Aug. 8, despite a brief rally following better-than-expected second-quarter results. Hybe reported record second-quarter sales of 640.5 billion w

Aug. 15, 2024

Samsung faces tougher SE Asia challenge from China

Samsung Electronics has retained its leading position in Southeast Asia’s major smartphone markets, but faces fiercer competition from Chinese rivals with cheaper pricing, according to an industry report Thursday. In the April-June period, Samsung held an 18 percent market share in five major countries -- Indonesia, the Philippines, Thailand, Vietnam and Malaysia -- according to the report by market tracker Canalys. The figure was down by 2 percentage points compared to a year ago, clo

Aug. 15, 2024

[Photo News] AI boost for Samsung sales

Samsung Electronics said Thursday its artificial intelligence-powered home appliances hit 1.5 million unit sales in the January-July period this year. The Bespoke AI Combo washer-dryer and the Bespoke AI Steam robot cleaner were the two top sellers driving up overall sales. (Samsung Electronics)

Aug. 15, 2024

Korean apparel company Hansae sets sights on boosting American football

South Korean apparel manufacturer Hansae signed a memorandum of understanding with the Korea American Football Association to promote American football, a sport still unfamiliar to many in Korea, the company announced Wednesday. Hansae and KAFA officials convened at the apparel-maker's Seoul headquarters on Tuesday to sign the deal and discuss joint initiatives. Under the partnership, the groups plan to provide uniforms for Korea's national teams and sponsor an amateur football league.

Aug. 14, 2024

Korean Air, L3Harris convene to advance aerial surveillance capabilities

South Korea's flag carrier Korean Air and US defense company L3Harris Technologies co-hosted an Industry Day event Tuesday to discuss ways to bolster aerial surveillance and monitoring capabilities. The gathering brought together executives and officials from over 30 domestic and international defense firms, including Israel Aerospace Industries, ELTA Systems and LIG Nex1 at the Air Force Hotel in Seoul. The event comes as the Korean Air Force looks to ramp up its surveillance and reconnais

Aug. 14, 2024

Merck boasts materials know-how at K-Display

Merck Korea, the Korean subsidiary of German science and technology juggernaut Merck, has showcased its materials intelligence with its participation at K-Display 2024, South Korea’s largest display exhibition. Merck enhances data interpretation and transmission by utilizing intelligence technologies, such as data processing and artificial intelligence, leading the advancement of the digital environment. It plays a crucial role in connecting users with data through display technologies. Un

Aug. 14, 2024

SK Square’s new CEO vows to up semiconductor investment

Han Myung-jin, the new chief executive officer of SK Group’s investment arm SK Square, took office Wednesday, pledging to build a more chip-central business portfolio. SK Square shareholders approved the appointment of Han during a meeting held in central Seoul on Wednesday, where he won 99.4 percent of the votes. Han officially took the post as the chief of SK Square at a board meeting, the company said. The inauguration comes more than a month after he was nominated to the post on July 3

Aug. 14, 2024

[Hello India] Korean firms seek to indulge India's K-food craving

South Korea has seen a rise in food exports to India in recent years, capitalizing on the growing popularity of Korean culture and foods, which also aligns with the efforts of Korean food companies to expand their presence there, drawn to the country's large population and growth in income levels. According to data compiled by the Korea Agro-Fisheries & Food Trade Corp., or aT, Korean food exports to India -- including agricultural produce, food additives, convenience foods, and both al

Aug. 14, 2024

Samsung, LG unveil new OLED tech to widen gap with Chinese runner-ups

The nation's top two display-makers, Samsung Display and LG Display, unveiled Wednesday their latest cutting-edge organic light-emitting diode display technologies involving artificial intelligence and new form factors, in an apparent move to widen the gap with their Chinese runner-ups. At the K-Display Industry trade show taking place in Seoul this week, Korea Display Industry Association Chairman Choi Joo-sun underscored how Korean display-makers will keep ahead of Chinese rivals in the c

Aug. 14, 2024

Hanjin Logistics sets up Singapore branch

Hanjin Logistics Corp., an affiliate of Korean airline-to-logistics conglomerate Hanjin Group, said Wednesday that it set up a branch in Singapore as part of its plan to develop a network within the ASEAN member countries. This branch marks a strategic move to elevate the firm's status in the Asian logistics market, aiming to solidify its foothold in the ASEAN region. "Since Singapore is a geopolitically critical hub, establishing our branch there is a vital step in boosting our compet

Aug. 14, 2024

[Photo News] Home repairing for patriots

Daewoo Construction & Engineering employees join a house repair project for descendants of the nation’s independence fighters in Cheonan, South Chungcheong Province, Tuesday. In partnership with Korea Habitat, the builder has completed a total of 21 housing projects since 2021. (Daewoo E&C)

Aug. 14, 2024

[Photo News] Advancing Indonesia's digital education

Kakao Bank CEO Yun Ho-young (far right) and employees pose for a picture at the company headquarters in Pangyo, Gyeonggi Province, Tuesday before heading to Indonesia for volunteer work. A team of 15 employees will spend a week in Mauk, Indonesia, helping to improve the region's digital education environment and engaging in construction projects to better the living conditions of children of underprivileged families. (Kakao Bank)

Aug. 14, 2024

Kakao Pay denies alleged data leak of 40m users

Kakao Pay, the mobile payments division of South Korea’s IT giant Kakao, has denied allegations of illegal customer data usage, amid revelations from a Financial Supervisory Service investigation. On Tuesday, the FSS revealed that Kakao Pay had allegedly shared the credit information of approximately 40 million customers with third parties without their consent. The findings emerged from the agency’s recent inspection of Kakao Pay’s overseas payment services. The FSS identified

Aug. 13, 2024

Zyx Technology signs sponsorship deal with golfer Kim Jae-hee

South Korean design software developer Zyx Technology announced Tuesday that it signed a sponsorship deal with professional golfer Kim Jae-hee. Under this sponsorship, Kim will wear a cap with the logo of ZyxCAD, the company's independently developed versatile computer-aided design software, during her participation in both domestic and international tournaments. Kim became a member of the Korea Ladies Professional Golf Association in 2019 and claimed her first victory this season at the KL

Aug. 13, 2024

[Photo News] Black umbrella protest

Protesters affected by the liquidity crisis at e-commerce platforms Tmon and WeMakePrice gather in front of Tmon’s headquarters in southern Seoul on Tuesday, holding black umbrellas with protest slogans. The demonstrators, including sellers and buyers who have not received payments or refunds from the cash-strapped Korean affiliates of Singapore's Qoo10 platform, argue that the government's emergency measures to address the issue are insufficient. For the sellers alone, the delay

Aug. 13, 2024

Analysts offer rosy H2 outlook for LG Display

LG Display is expected to get out of the red in the latter half of this year, largely buoyed by its increased panel shipments for Apple's new iPhones that debut next month, according to industry sources on Tuesday. Local researchers painted a rosy outlook for LG Display, which has begun stable production of the first batch of the panels for the new iPhone 16 series. The Korean panel maker is said to be responsible for almost 40 percent of the total panel supplies for the new iPhones. Accord

Aug. 13, 2024

Korea Arboreta and Gardens Institute bridges Korean gardens to global markets

The Korea Arboreta and Gardens Institute is paving the way for Korean-style gardens abroad. The institute, operating under the Korea Forest Service, showcased the beauty and traditional philosophy of Korean gardens on a global stage by setting up a special garden at the International Horticultural Expo in Doha, Qatar, last October. This garden, covering 1,200 square meters, created an oasis in the desert using 350 trees, 600 shrubs and 1,500 herbaceous plants, sourced locally. According to the i

Aug. 13, 2024

Korea Arboreta and Gardens Institute takes center stage in global plant conservation efforts

As climate change continues to threaten plant ecosystems worldwide, the Korea Arboreta and Gardens Institute is drawing increased attention as a key player in protecting biodiversity both locally and abroad. Operating under the state-run Korea Forest Service, KoAGI's primary task is managing the Baekdudaegan Global Seed Vault in Bonghwa, North Gyeongsang Province. Opened in December 2015, the vault houses nearly 240,000 seeds from 5,792 wild plant species worldwide and is one of only two su

Aug. 13, 2024

Botanical experts convene in Korea to highlight urgency of plant conservation

A global gathering of botanical experts convened Wednesday at the National Arboretum in Sejong, South Korea, to address the pressing issue of plant biodiversity conservation in an era of climate change. The international symposium, jointly hosted by the Korea Arboreta and Gardens Institute (KoAGI), Korea Forest Service and Korea National Arboretum, brought together 100 leading specialists from across the globe to hash out collaborative strategies for protecting the planet's flora. Dr. Paul

Aug. 13, 2024

Chipmakers keen on enhancing power efficiency of AI chips

The latest boom in artificial intelligence is prompting competition among the world's top three memory-chip-makers to debut more power-efficient DRAM chips with higher capacity to power high-performance computing for AI applications. Chipmakers are focusing especially on the seventh-generation Low Power Double Data Rate 5X chip to be used not just in mobile devices, but also in the automotive industry. "As AI applications are diversifying, the demand for memory products consuming low p

Aug. 13, 2024