[KH Explains] Hanwha scion steps into spotlight amid pending succession

Hanwha Group Chairman Kim Seung-yeon’s second son, Kim Dong-won, president and chief global officer at Hanwha Life, is eyeing a bigger presence within his father’s business empire as he plays a key role in leading the global expansion of the group’s financial business. Hanwha’s succession scheme is still taking shape, with the management control highly likely to be transferred to the chairman’s three sons. The eldest, Vice Chairman Kim Dong-kwan, is projected to t

IndustryJuly 30, 2024

NCSoft invests $3.5m in Sweden's Moon Rover Games

NCSoft announced Tuesday that it had invested $3.5 million in Swedish game studio Moon Rover Games, as the Korean game company continues seeking future growth engines to expand its gaming portfolio and global market. Moon Rover Games was established in 2022 by a group of developers who had taken part in creating global hit first-person shooters such as the Battlefield series, Far Cry and Tom Clancy’s The Division. Moon Rover Games is currently developing an FPS titled Project Aldous, based

CompaniesJuly 30, 2024

66% of Gen Z get beauty treatments to land a job

About two-thirds of young job seekers in South Korea said they had obtained beauty care to land a job, with many of them believing that physical appearance plays a key role in increasing their chances of being employed, a survey showed Monday. Local job platform Catch revealed the results of a survey it conducted with 1,455 young job seekers belonging to Generation Z -- adults born after the mid-1990s. According to the survey, some 66 percent of the respondents said they received care for their

Social AffairsJuly 30, 2024

SK hynix to mass-produce GDDR7 DRAM chip in Q3

SK hynix, the world's second-largest memory chip maker, on Tuesday unveiled its next-generation GDDR7 graphics memory chip that boasts the industry’s most outstanding performance in terms of operating speed and power efficiency. The company said it will start mass production in the third quarter. GDDR is a type of high-performance memory commonly used in graphics cards. It has recently gained popularity as graphics cards are increasingly used to power artificial intelligence workloads

TechnologyJuly 30, 2024

[Photo News] British Embassy Seoul hosts reception for Tottenham Hotspur

British Ambassador to Korea Colin Crooks (right) and Executive Director of Tottenham Hotspur Football Club Donna-Maria Cullen pose for a photo on Tuesday, holding a statuette of the Club's historic cockerel presented to the ambassador during a breakfast reception at the ambassador's residence. The English football club is on a week-long preseason tour of Korea, playing two matches in the Coupang Play Series -- against Team K-League on Wednesday and FC Bayern on Saturday. (Courtesy of t

PeopleJuly 30, 2024

Assembly passes all 4 broadcasting bills despite ruling party objection

All four contentious bills aimed at reducing the Yoon Suk Yeol administration’s influence over public broadcasters here were passed by the opposition-led National Assembly Tuesday. The Assembly passed the revision to the Korea Educational Broadcasting System Act, railroaded by the main opposition Democratic Party of Korea, in a 189-0 vote during a plenary session in the morning. The move marks the passage of the last of four contentious broadcasting bills, with the amendments to the Broadc

PoliticsJuly 30, 2024

Environment ministry unveils sites for 14 new dams

The Ministry of Environment announced Tuesday that it has chosen 14 different sites to build new dams to guarantee South Korea’s safety and readiness for heavy rain, floods and droughts. “Since May 2023, the Ministry of Environment has been trying to promote the construction of dams that can combat extreme weather conditions,” said Environment Minister Kim Wan-sup during a press briefing Tuesday. Kim, an ex-vice finance minister, recently became the new environment minister on

Social AffairsJuly 30, 2024

[Business Diplomacy] As Trump targets EVs, Hyundai-Kia shifts gears to hybrids

“I will end the electric vehicle mandate on day one.” With Donald Trump gaining traction as the Republican presidential candidate, this declaration at the Republican National Convention in Milwaukee on July 18 has sent ripples of concern through the South Korean automotive and battery industries. The potential implications of Trump’s return to the White House, coupled with his protectionist and anti-EV stance, have companies like Hyundai-Kia and major Korean battery makers brac

MobilityJuly 30, 2024

STX Heavy rebranded as HD Hyundai Marine Engine

Korean marine engine maker STX Heavy Industries has officially been rebranded as HD Hyundai Marine Engine under the umbrella of HD Hyundai. At a shareholders' meeting held on Tuesday, all proposed agenda items were approved, including amendments to the articles of association, a name change and the election of new directors. President Kang Young, appointed as the first CEO, brings a wealth of experience from his tenure at HD Hyundai Heavy Industries, where he joined in 1992. He has held var

IndustryJuly 30, 2024

Geely’s top brass visit SK to speed up EV partnership

SK Group and SK On are reportedly fast-tracking their collaboration with China’s Zhejiang Geely Holding Group, a leading multinational automotive conglomerate. Industry sources reported that executives from Geely Auto responsible for technology, research and development, and international cooperation, visited SK Building headquarters in Seoul on Monday. The delegation, which included the CEO of Zeekr, Geely Auto’s premium EV brand, met SK Group Executive Vice Chairman Chey Jae-won an

MobilityJuly 30, 2024

Veteran DJ Kim Chang-wan returns to radio

Singer-actor Kim Chang-wan, also a legendary radio DJ known for his warm, comforting messages, has returned to radio four months after stepping down from a show he had hosted for 23 years. Kim and SBS radio program producer Jung Han-sung held a press conference at the SBS headquarters to celebrate the launch of their new radio program, "6 O’clock Evening Breeze, Kim Chang-wan Ibnida" on July 22. After an emotional farewell shared during the last broadcast of his long-running morn

CultureJuly 30, 2024

Tall tales and theories on S. Korea's dominance in archery

South Korea on Monday notched its third-straight gold medal in the Olympic men’s team event, defeating host nation France and completing a sweep of the women's and men's team events at this year's Paris Olympics. Kim Woo-jin, Kim Je-deok and Lee Woo-seok hoisted the national flag after securing the 5-1 victory in the French capital. Since their more dominant female compatriots won the country’s 10th-straight gold in the women's team event on Sunday, Koreans have

More SportsJuly 30, 2024

Jangma ends, leaving Korea under subtropical heat

Jangma, the rainy season, finishes in South Korea around Saturday and scorching hot days will last for, the Korea Meteorological Administration announced its analysis Tuesday. South Korea came under the influence of a strong subtropical high and the rainy front moved to North Korea, and it can be interpreted as the end of jangma, the forecast agency said. This year’s jangma lasted over a month -- 31.5 days in Seoul, Incheon and Gyeonggi and Gangwon Province, 31.4 days in southern provinces

Social AffairsJuly 30, 2024

Lotte Wellfood eyes W1tr in snack sales in India

Lotte Wellfood announced Tuesday it plans to merge its Indian subsidiaries, Lotte India and Havmor Ice Cream, to improve operational efficiency and enhance its presence in the Indian market. According to the company, the boards of both affiliates approved the decision in meetings held Monday. Under the merger agreement, Lotte India will acquire Havmor Ice Cream, and both brands will continue their product lines. "Lotte Wellfood has decided to create a combined entity in India to enhance our

CompaniesJuly 30, 2024

Stings and arrows: Archer hits bullseye despite bee bother

Kim Je-deok remained calm and shot a perfect arrow despite a bee landing on the back of his hand during the men’s archery team event at the Paris Olympics on Monday. The bee distraction occurred during the semifinal against China. While the first set ended in a tie at 54 points apiece, South Korea rebounded in the second set, scoring 57 to China’s 53. The third set was crucial, as a victory would secure South Korea’s spot in the final. With the score at 36-53 and only two arr

More SportsJuly 30, 2024

Toss Securities to launch US subsidiary this year

Toss Securities, a brokerage arm under financial technology giant Viva Republica, announced Tuesday that it plans to establish a subsidiary in the US to explore further business opportunities in the country. The US entity, a 100 percent-owned subsidiary of Toss Securities, will be founded within this year under the name of Toss Securities Americas. The establishment was approved through a board meeting of the brokerage unit. Toss Securities Chief Financial Officer Kim Kyung-soo is to serve as th

IndustryJuly 30, 2024

Vine Group secures bigger footing in Japan

Vine Group said Tuesday that its Japanese subsidiary Vine Japan successfully expanded business operations in Osaka, Japan. Since its establishment in 2017, Vine Japan has diversified its operations from rental services to include hotels, trade, and the food and beverage sector. Vine Japan entered the hotel industry by acquiring Hotel Links Namba in 2018. In 2019, it acquired WBF Hotel and rebranded it as Hotel Vine Osaka, enhancing customer satisfaction with a Korean boutique hotel concept. Amid

IndustryJuly 30, 2024

Number of returning resident doctors 'very low'

With the job opening for junior doctors' September training closing Wednesday, the government once again urged them to return to patient care, as many striking trainees remain lukewarm about resuming their duties. During Tuesday's government response meeting, Health Minister Cho Kyoo-hong made the final plea to trainee doctors to apply for the post, asking them to "take courage" for patients waiting for them. "The government took appeasement steps by providing special co

Social AffairsJuly 30, 2024

NK trash balloons have landed at over 3,000 sites in South: police

Balloons carrying rubbish sent from North Korea since late May have been discovered at more than 3,000 sites throughout South Korea, a police report showed Tuesday. According to a police report obtained by Democratic Party of Korea Rep. Yang Bu-nam, balloons sent by North Korea were found at 3,359 locations across South Korea between May 28 and July 25, during which 10 balloon campaigns were conducted. South and North Korea have used balloons in their propaganda campaigns since the Korean War in

Social AffairsJuly 30, 2024

Zerobaseone to drop 4th EP ‘Cinema Paradise’ next month

K-pop boy group Zerobaseone is returning with its fourth EP “Cinema Paradise” next month. The group's third EP "You Had Me at Hello" was released just three months ago. The group dropped a teaser poster for its upcoming album on its X account on Monday. It also shared a spoiler film for the new album on YouTube which shows the nine-member group watching a film in a theater with a silhouette of someone walking through a door. The subtitle reads "with special appear

K-popJuly 30, 2024