A model of an electric wave monitoring aircraft is on display at a booth at the 2024 Land, Infrastructure and Transport Technology Fair, held at Coex in Gangnam-gu, southern Seoul, Wednesday. Organized by the Transport Ministry, the exhibition, which runs until Friday, features a total of 300 booths operated by 220 transportation and technology-related organizations. Visitors have the opportunity to experience firsthand how various technologies in the land and transportation sector, including ur

Industry May 15, 2024

South Korean e-commerce giant Coupang's founder and CEO Kim Bom was excluded from the list of chaebol chiefs designated by the Korean antitrust regulator, marking the fourth time since 2021 when Coupang entered the realm of large conglomerate groups with assets exceeding 5 trillion won ($3.6 million). The Korea Fair Trade Commission announced Wednesday an updated list of 88 large conglomerates for this year, all subject to disclosure of activities, followed by rigorous monitoring and accoun

Industry May 15, 2024

Chinese e-commerce giants AliExpress and Temu signed a product safety agreement with Korea's Fair Trade Commission on Monday in the hopes of ensuring and protecting Korean consumers from harmful products being distributed and sold here through their platforms. The agreement marks the first of its kind signed by an overseas online platform operator in Korea regarding product safety. Particularly, Temu's involvement is noteworthy as this is the first time the company signed such an agree

Industry May 13, 2024

Korean Air is in talks with Sierra Nevada Corporation, the US aerospace and defense firm, to sell its five B747-8i jets in an apparent move to boost its operational efficiency ahead of its planned merger with Asiana Airlines. According to industry sources on Friday, Korean Air held a board meeting Wednesday and decided to sell the planes to Sierra Nevada. The deal, valued at about 918 billion won ($674 million), is expected to be completed by September 2025. Currently, the company owns nine unit

Industry May 10, 2024

Switzerland's flag carrier Swiss International Air Lines inaugurated its direct flight from Zurich to Incheon on Wednesday, marking its entry into the Korean market. This marks the first time in 27 years that the airline has introduced flights to Korea since the suspension of the Gimpo-Zurich route in 1998. "The Zurich-Seoul route was a missing piece of our extensive global network," Markus Binkert, chief financial officer of Swiss International Air Lines said during a press confe

Industry May 9, 2024

New York-listed e-commerce giant Coupang reported Wednesday that its sales soared to a record high of $7.1 billion in the first quarter of this year, but operating profits were almost cut in half largely due to the losses from Farfetch, the luxury shopping platform it acquired last year. According to its earnings report earlier in the day, its revenue reached $7.1 billion in the January-March period, up 23 percent from a year ago. Its operating profits were $40 million, which compared to $167.

Industry May 8, 2024

As the travel landscape undergoes profound transformations postpandemic, the golden era of traditional, large-scale travel agencies may be coming to an end. However, Hanatour, Korea's leading travel agency with more than three decades of experience, aims to defy the growing perception. Leveraging extensive tourism data both inbound and outbound, Hanatour CEO Song Mi-sun said the company is seeking ways to pioneer a new era of travel, defined by enhanced safety, efficiency and tailored trave

Industry May 6, 2024

진행자: 김혜연, Kevin Lee Selzer [KH Explains] No more 'Michael' at Kakao Games 기사 요약: 사내 영어이름 사용 대신 한글 본명에 '님' 호칭 도입한 카카오게임즈 Amid major reform push at Kakao, game developer affiliate moves to stop using English names in office *reform push 개혁 촉구 *affiliate 계열사 [1] Kakao Games has decided to scrap using English names among its employees, becoming the first Kakao affiliate to backtrack on the IT front-runner’s attempt to make a more bottom-up working environment with open c

Podcast May 6, 2024

진행자: 김혜연, Kevin Lee Selzer [Herald Interview] Mistakes turn into blessings in street performance, director says 기사 요약: 2024 궁중문화축전 연출 일부를 맡은 송재성 감독이 인터뷰에서 공개한 올 해 프로그램의 재미 [1] Where to draw the line separating the audience from actors in a street performance is tricky for any director. Some are wary of seeing the script derailed by indulging too much into on-the-spot impromptu interaction with spectators. *draw the line 한계를 정하다, 구분 짓다 *tricky 힘든 [까다로운], 교묘한 *indulging (특정한 욕구·관심 등을) 채우

Podcast May 2, 2024

Korean retail giant Shinsegae Group's e-commerce unit SSG.com faces mounting pressure from investors to recoup the 1 trillion won ($727 million) investment made between 2019 and 2022 amid its delayed market debut hit by lukewarm sales in recent years. According to industry sources on Tuesday, Shinsegae is in last-minute discussions with Affinity Equity Partners and BlueRun Ventures, the two private equity funds that are reportedly considering exercising a put option to sell back their stake

Industry April 30, 2024

During the bidding process among domestic low-cost carriers for the acquisition of Asiana Airlines' cargo division, Jeju Air, previously considered the front-runner, has chosen not to participate in the bidding. According to industry sources, the main bidding process, organized by financial services firm UBS for the sale of Asiana Airlines' cargo plane division on Thursday, saw the participation of three budget airlines: Eastar Jet, Air Premia and Air Incheon. Jeju Air did not submit a

Industry April 26, 2024

With the rising number of Korean restaurants abroad and the global appeal of Korean food, CJ CheilJedang's processed rice product is experiencing a surge in popularity across North America. CJ CheilJedang announced on Tuesday that sales of Bibigo Cooked Sticky White Rice amounted to 160 billion won ($116 million) last year in North America, marking a 21 percent increase from the previous year, and doubling the figures for 2021. Processed rice stands as one of CJ CheilJedang's seven key

Industry April 23, 2024

Posco Group announced Tuesday the completion of a manufacturing plant specifically designed to produce silicon battery materials, laying the groundwork for next-generation secondary battery materials venture. Its battery materials unit Posco Silicon Solution completed a silicon anode material plant in the Yeongil Bay industrial complex of Pohang, North Gyeongsang Province, on Friday. Silicon anode material is a next-generation alternative boasting four times the energy density of graphite anodes

Industry April 23, 2024

South Korea's food inflation spiked to 6.95 percent in February, the third-highest among member countries of the Organization for Economic Cooperation and Development. The OECD statistics for February announced Sunday reveal that Korea ranks third among 38 OECD member countries in terms of food and non-alcoholic beverage inflation, trailing only Turkey with 71.12 percent and Iceland with 7.52 percent. This marks the first time in over two years that Korea's food inflation has exceeded

Industry April 21, 2024

South Korean logistics company LX Pantos has opened a vast railway terminal in Tata, Hungary, with aims to bolster its competitive edge in European logistics. Situated approximately 65 kilometers southwest of Budapest, the LX Pantos Tata Terminal strategically positions itself near Europe’s largest battery production hub. Encompassing an area of around 36,000 square meters, equivalent to roughly five soccer fields, the terminal includes two dedicated rail tracks. The inauguration ceremony

Industry April 21, 2024