Pohang Steelworks chief dismissed over series of fatal accidents

Korean steelmaking giant Posco dismissed the head of the Pohang Steelworks, Lee Dong-ryeol, on Friday, holding him responsible for a series of fatal industrial accidents at the plant this year — incidents that claimed two lives and left three others still unconscious after suffering cardiac arrest. Lee, a veteran steel engineer, had been in the post since January. The company plans to keep the chief position at the steelworks vacant for now, with CEO Lee Hee-geun temporarily taking over manageme

Nov. 21, 2025

Samsung revives two-CEO structure to steer chips, consumer tech

Samsung Electronics on Friday reinstated its dual-CEO management system, a significant structural shift aimed at reinforcing stability across its core businesses and sharpening leadership amid deep uncertainty in the global tech landscape. In its annual executive reshuffle, Samsung named President Roh Tae-moon — who has served as acting head of the Device eXperience division for the past eight months — the official chief of the division and the company’s new co-CEO. He will lead Samsung alongsid

Nov. 21, 2025

Korean AI firm Dabeeo raises W12b to fuel global expansion

Dabeeo, a South Korean vision AI data intelligence company, announced Wednesday that it has secured 12 billion won ($8.1 million) in funding, laying the groundwork to accelerate its expansion in the global market. The investment round included participation from eight investors, including major financial institutions such as NH Nonghyup Bank and NH Investment & Securities, along with existing shareholders. Dabeeo specializes in digitizing spatial information to provide management and predictive

Nov. 21, 2025

Coupang reports personal info leak related to 4,500 customers

E-commerce giant Coupang said on Thursday that an unauthorized third party had gained access to personal data of some 4,500 of its customers, including names, email addresses, delivery addresses, telephone numbers and most recent orders. The data leak was confirmed Tuesday, after which Coupang cut off the route used by the unidentified data thief. The company, however, said that it has not found evidence suggesting unauthorized intrusion into its system related to customer payments. Coupang said

Nov. 21, 2025

Korean researcher highlights immune-based therapy for early menopause at Dubai forum

Professor Taehee Kim of Soonchunhyang University Bucheon Hospital presented new clinical findings on the role of immunity in treating early menopause and aging-related chronic conditions at the International Conference on Gynecology & Obstetrics, held Nov. 3-4 in Dubai of the United Arab Emirates. Speaking as an invited lecturer, Kim drew attention for research showing that intravenous administration of autologous blood concentrates containing hematopoietic stem cells — including CD34+ stem cell

Nov. 21, 2025

KGCCI Innovation Awards spotlight Korean tech startups driving global change

The Korean-German Chamber of Commerce and Industry on Thursday named three Korean startups — DolbomDream, Terracle and Tround — as this year’s Innovators of the Year, recognizing their breakthroughs in health care, recycling and immersive audio. The awards ceremony, held in Seoul, marked the 11th edition of the KGCCI Innovation Awards, an annual event that highlights transformative technologies enhancing Korea-Germany business cooperation. This year’s program is supported by Korea’s Ministry of

Nov. 21, 2025

Samsung announces acting DX chief as official head of division

South Korean tech giant Samsung Electronics Co. on Friday announced a leadership reshuffle, naming a new co-chief executive officer (CEO) and a chief technology officer amid the company's efforts to address external business uncertainties. Under the reshuffle, President Roh Tae-moon, who has been serving as acting head of Samsung Electronics' Device Experience (DX) division, which oversees mobile, TV and home appliance businesses, will become the official leader of the division while serving as

Nov. 21, 2025

K-culture could tap into wider potential through localization, Thai experts say

Korea Herald correspondent BANGKOK — Though K-culture has woven itself into the everyday lives of many Thai consumers, Thai media experts say stronger local adaptation could unlock a new wave of more distinctive and entertaining content. Thai beauty influencer Anna Sueangam-iam said K-beauty has introduced a more holistic understanding of skin care among local consumers, reshaping how Thai women perceive beauty overall. “Now, Thai women do not view makeup as mere external decoration. They place

Nov. 20, 2025

Arc Raiders tops 4 million copies sold, fueling Nexon’s global push

South Korean game giant Nexon said Thursday that its new survival co-op shooter Arc Raiders has sold more than 4 million copies and reached a peak of 700,000 concurrent players just two weeks after launch — a breakout performance that is accelerating the company’s global expansion strategy. Developed by Embark Studios, Nexon’s Stockholm-based subsidiary, Arc Raiders is a third-person, extraction-style survival game set in a post-apocalyptic “Rust Belt.” Players take on the role of “Raiders,” sca

Nov. 20, 2025

[Photo News] Upclass banking offered by SC

From left: Judy Hsu, Standard Chartered’s CEO for Wealth and Retail Banking; South Korean LPGA legend Pak Se-ri; and Lee Kwang-hee, Standard Chartered Bank Korea CEO, pose during the opening ceremony of the global banking giant’s Priority Private Center in Apgujeong-dong, southern Seoul, on Thursday. The center is the bank’s first Priority Private Center in Korea and its 16th globally, with Pak serving as its inaugural client. The facility offers global wealth-management services for high-net-wo

Nov. 20, 2025

[Thailand Forum] When highways lead to smart cities: Korea, Thailand upgrade construction partnership

BANGKOK — Sixty years after South Korea won its first overseas construction contract in Thailand, the two countries are ready to take their partnership into its technology-driven era, experts said at the Ignite Thailand-Korea Business Forum held in Bangkok on Monday. Maeng Sung-kyu, who chairs the South Korean National Assembly’s National Land, Infrastructure and Transport Committee, framed the push for deeper cooperation in the context of long-standing ties. “South Korea and Thailand mark 67 ye

Nov. 20, 2025

[Thailand Forum] Daewoo E&C flags ‘K-city’ vision in Thailand push

BANGKOK — South Korean builder Daewoo Engineering & Construction seeks to expand its presence in Thailand, focusing on large-scale urban and infrastructure projects as the company moves to deepen its presence in Southeast Asia. Addressing government and business leaders at the Ignite Thailand-Korea Business Forum in Bangkok on Monday, Han Seung, head of Daewoo E&C’s overseas business division, said the company aims to use its flagship Starlake project in Vietnam as a template for future developm

Nov. 20, 2025

German Innovation Days kick off with focus on human-centric AI

German Innovation Days opened Wednesday in Seoul, as an initiative hosted by the Embassy of the Federal Republic of Germany in cooperation with Herald Media Group to spotlight Germany’s multidimensional approach to innovation and to deepen ties with Korea’s business and startup communities. The monthlong program aims to connect German innovators with leaders of German-affiliated companies in Korea, as well as Korean startups and researchers working in high-tech fields. German Ambassador to Korea

Nov. 20, 2025

Posco, GS Caltex secure palm oil supply with $1b Indonesia push

South Korean trading and energy company Posco International and oil refiner GS Caltex are expanding their palm oil footprint in Indonesia, stepping up investment as global competition intensifies for the key commodity used in food production and biofuels. The companies announced Thursday that the push centers on two major initiatives: a $210 million joint venture refining plant, and Posco International’s separate $862 million acquisition of a large-scale Indonesian palm farm. Both moves aim to s

Nov. 20, 2025

Costco tops Homeplus in sales amid warehouse retail boom

Costco Wholesale Korea surpassed 7 trillion won ($4.7 billion) in annual revenue for the first time, overtaking the nation’s No. 2 hypermarket, Homeplus, amid the growing popularity of warehouse-style formats. According to an audit report on Thursday, Costco Korea reported 7.32 trillion won in revenue for its latest fiscal year ending August, up 12.1 percent from a year earlier, while operating profit rose 16.5 percent to 254.5 billion won. Costco Korea has been on an upward revenue trajectory,

Nov. 20, 2025