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US tariff cuts on Korean autos, aircraft ease export uncertainty
The US has confirmed a tariff cut to 15 percent on key South Korean imports such as automobiles, aircraft and lumber in the Federal Register, prompting relief from Seoul and industry groups that say the move eases a major source of trade uncertainty. The implementation comes a little over four months after negotiators first secured a framework deal in July to cut the tariffs in return for Korea’s pledge to invest $350 billion. After months of deadlocks, the two countries finalized the deal in Oc
Dec. 4, 2025 -
Posco Future M partners with Factorial to co-develop solid-state battery materials
Posco Future M, the battery materials subsidiary of Posco Group, said Thursday it has signed a strategic partnership with US solid-state battery developer Factorial Energy to co-develop next-generation EV battery materials. The memorandum of understanding, signed Nov. 25 at the Future Battery Forum in Berlin, aims to strengthen Posco’s position in the solid-state sector — widely viewed as the next major leap in electric mobility due to its improved safety and higher energy density. Solid-state b
Dec. 4, 2025 -
LS Electric expands Busan complex to triple UHV transformer output
LS Electric completed construction of a second ultrahigh-voltage transformer plant in Busan on Thursday, stepping up its global expansion with a focus on North America. With the addition, LS now operates a full product lineup spanning ultrahigh-voltage transformers, transmission, substation and distribution systems. LS’ Busan complex is also Korea’s only production base for high-voltage direct-current transformers, positioning the company to respond quickly to rising government demand for HVDC t
Dec. 4, 2025 -
Worries in Taiwan linger after Coupang leak hits Korea
Coupang’s sweeping data leak has laid bare what many call a double standard in its cybersecurity practices, in which the company prioritizes protections in Taiwan while leaving its core Korean market more vulnerable. While the data of millions of users in Korea was being exposed for months, Coupang’s Taiwan unit announced on Oct. 21 that it had introduced Fast Identity Online, branded as “Coupang Passkey,” a password-free login system using biometric verification. The company said the feature is
Dec. 4, 2025 -
Celltrion ADC candidate gets FDA fast track designation
Celltrion announced Thursday that CT-P70, its novel antibody-drug conjugate candidate for lung cancer, has received fast track designation from the US Food and Drug Administration. ADCs are next-generation therapies that connect a powerful cancer-killing drug to an antibody. This design allows the treatment to directly attack cancer cells while minimizing damage to healthy tissue. The fast track designation, granted to drugs addressing serious conditions with unmet medical needs, facilitates mor
Dec. 4, 2025 -
Hana Financial, Dunamu join forces on blockchain-based remittance system
Hana Financial Group and Dunamu, operator of crypto exchange Upbit, agreed to jointly develop blockchain-enabled financial services as major Korean players accelerate their push into next-generation payment and settlement infrastructure. The companies said Thursday they signed a memorandum of understanding to collaborate on building new financial rails using blockchain. The partnership will cover the development of an overseas remittance system, the introduction of new technology across Hana’s f
Dec. 4, 2025 -
Architecture dances to rhythm of music at Global Biz Forum
Architecture and music — one grounded in space, the other in sound — reveal surprising parallels through the insights of architect Hong Tae-sun, who explored their mutual roots in creativity at the eighth edition of the Global Biz Forum hosted by The Korea Herald and Herald Business. The Wednesday session, titled "BIG: Designing the Future," was held at the Prugio Summit Gallery in Gangnam, southern Seoul. “Both music and architecture involve the layering of multiple elements to create depth,” e
Dec. 4, 2025 -
US gov't puts S. Korea-US tariff deal on Federal Register
US President Donald Trump's administration on Wednesday posted on the Federal Register a notice on the implementation of a South Korea-US trade and investment deal, including a reduced tariff rate of 15 percent on Korean autos retroactive to Nov. 1. The Office of the US Trade Representative and the Department of Commerce posted the document to implement certain tariff-related elements of the US-Korea Strategic Trade and Investment Deal ahead of its official publication date set for Thursday. The
Dec. 3, 2025 -
Lee says Trump proposed 5:5 partnership for uranium enrichment project
President Lee Jae Myung said Wednesday that US President Donald Trump proposed the two countries form a 5:5 partnership to achieve South Korea's aim of enriching uranium and reprocessing spent nuclear fuel on its soil. Lee disclosed what he said was Trump's proposal at a recent summit meeting during a press conference with the foreign press that marked one year since former President Yoon Suk Yeol's failed imposition of martial law. "In the end, we agreed to partner," Lee said, adding that Trump
Dec. 3, 2025 -
Netmarble confirms additional leak of 8,000 personal data records following major hacking incident
South Korean gaming giant Netmarble Corp. has identified an additional leak of around 8,000 personal data records, the company said Wednesday, following a hacking incident that exposed the information of 6.11 million users. Netmarble said in a notice posted on its website that the newly confirmed breach was uncovered during an internal investigation conducted after the initial cyber intrusion. According to the company, the newly leaked data includes various information, including 3,185 customer
Dec. 3, 2025 -
Yuhan-Kimberly wins presidential honor for recycling innovation
Yuhan-Kimberly, the nation's leading hygiene product manufacturer, received a presidential citation Tuesday for its contributions to resource recycling and greenhouse gas reduction. The company was honored for its “Bi:Cycle” campaign, a recycling initiative carried out with 35 partners including companies, local governments and public institutions. Yuhan-Kimberly supplies around 10,000 tons of Kleenex hand towels annually. Although dried hand towels are recyclable, most have long been discarded
Dec. 3, 2025 -
SK Biopharm secures Actinium-225 supply in Europe with Eckert & Ziegler deal
SK Biopharmaceuticals said Wednesday it has signed a supply agreement with Germany’s Eckert & Ziegler, a leading radioisotope company, to procure Actinium-225 — a critical material used in next-generation cancer therapies. The deal establishes a European supply base for the company’s radiopharmaceutical pipeline, helping secure access to a resource considered essential for successful drug development. Actinium-225 is a key isotope used in radiopharmaceutical therapy, a targeted treatment that de
Dec. 3, 2025 -
Shinhan chair's Ddangyo bet: How finance giant disrupted food delivery
When Shinhan Financial Group Chair Jin Ok-dong sent his bank into the food delivery business, critics scoffed at the idea of a financial giant chasing chicken-and-beer orders. But four years later, Ddangyo — Shinhan’s ultra-low-fee delivery app — is rewriting the rules of competition in Korea’s delivery market and reframing how a bank can wield its power for social impact. For Jin, Ddangyo was never about chasing tech multiples. It was a business expression of his long-held principle that financ
Dec. 3, 2025 -
Coupang executive sell-off draws scrutiny
Senior executives at Coupang sold troves of company stock in mid-November — days before the company formally disclosed a massive data breach — timing that has sparked investor concern despite the trades being officially preplanned. According to US Securities and Exchange Commission filings, Chief Financial Officer Gaurav Anand sold 75,350 shares on Nov. 10 at $29.02 apiece, totaling about $2.2 million. Pranam Kolari, then the vice president of engineering responsible for search and recommendatio
Dec. 3, 2025 -
Doosan Bobcat in talks to acquire Germany’s Wacker Neuson
Doosan Bobcat is in talks to acquire Wacker Neuson, a German construction equipment-maker, in a move that could expand the South Korean industrial machinery builder's presence in Europe. Wacker Neuson confirmed earlier media reports on Tuesday, disclosing that its executive board is in “advanced discussion” with Doosan Bobcat regarding a possible acquisition of a majority stake in the company. It added that Doosan Bobcat is considering purchasing about 63 percent of the company’s share from majo
Dec. 3, 2025