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Double squeeze: Weak won, US tariffs tighten grip on K-food, K-beauty
For Korean food and beauty firms, this year is as much about chasing global growth as it is about managing the dual headwinds of a weak won and newly imposed US tariffs — a combination that is beginning to reshape cost structures, squeeze margins and test long-term strategy across two of Korea’s most export-driven sectors. The won-dollar exchange rate rose above 1,460 won per dollar as of Thursday. After dipping into the 1,350 range in late June from a peak of 1,486 in April, the won has since t
Nov. 20, 2025 -
Thailand can accelerate K-beauty’s ASEAN expansion, Purito Seoul CEO says
Korea Herald correspondent BANGKOK — Cho In-je, CEO of skin care company Purito Seoul, said Thailand can play a pivotal role in expanding K-beauty’s recent global rise into Southeast Asia, calling the country a strategic gateway for South Korean cosmetics. “If we build a collaboration model that combines Thailand’s cultural strength with the appeal of K-beauty, Thailand can become a major distribution and production base for Korean brands entering the ASEAN market,” Cho said, referring to member
Nov. 20, 2025 -
Thailand pushes 'creative economy' for next wave of growth
Korea Herald correspondent BANGKOK — Thailand is turning to cultural and digital industries — spanning fashion, design, film, music and software — as new growth engines beyond traditional industrial sectors. Together, they form the country’s “creative economy,” which Thailand is working to transform into a technology- and intellectual property-driven growth model. According to Thailand’s National Economic and Social Development Council, the country’s creative economy now stands at $44.5 billion
Nov. 20, 2025 -
Real work begins after Korea-US fact sheet finalized
After months of negotiations, South Korea and the US released their long-delayed joint fact sheet Friday, detailing trade and security agreements and alleviating some uncertainties about tariffs that had weighed on the export-dependent country. The document, released by the White House, put into writing guidelines that the two countries broadly agreed upon in July and finalized during the Oct. 29 summit between South Korean President Lee Jae Myung and US President Donald Trump. The fact sheet fo
Nov. 19, 2025 -
Olive Young to make US debut next year
Beauty retail giant CJ Olive Young said Wednesday it will open its first US store in Pasadena, California, by May next year, marking its long-anticipated entry into the world’s largest cosmetics market. The announcement comes nine months after the company established its US subsidiary, CJ Olive Young USA, in February as a local base to accelerate K-beauty's global expansion. The company said its US entry will begin in high-traffic districts, targeting trend-sensitive younger consumers in Pasaden
Nov. 19, 2025 -
Samsung Display wins key OLED fight as BOE settles ahead of US ruling
Samsung Display has settled its yearslong OLED patent dispute with China’s BOE, prompting the US International Trade Commission to suspend a high-stakes investigation that had threatened to block BOE from one of the world’s largest premium display markets, industry sources said Wednesday. The ITC confirmed that Samsung Display and BOE jointly filed a motion to terminate the ongoing probe following a settlement agreement. While neither company disclosed details of the deal, industry officials wid
Nov. 19, 2025 -
Hanjin pledges ongoing aid for US veterans
South Korea’s logistics giant Hanjin Group said Wednesday it would provide ongoing support to Semper Fi & America’s Fund, a US nonprofit that assists wounded service members, as part of its 80th anniversary commemoration. The donation ceremony was held in Oceanside, California, and coincided with Veterans Day on Nov. 12. Key attendees included Hanjin Logistics President Emily Cho, Hanjin Logistics CEO Noh Sam-sug, SFAF Vice President Sondria Saylor and Vietnam War veterans invited as honorary gu
Nov. 19, 2025 -
HD Hyundai becomes world’s first to deliver 5,000 ships
Korea’s largest shipbuilder, HD Hyundai, celebrated on Wednesday a global first with the delivery of its 5,000th vessel, highlighting the company’s leadership in the international shipbuilding industry. According to the company, the milestone vessel was the Diego Silang, a cutting-edge patrol frigate built at HD Hyundai Heavy Industries’ Ulsan shipyard for the Philippine Navy. The delivery comes 50 years after the yard began operations in 1974. The vessel was successfully delivered in October an
Nov. 19, 2025 -
LS Cable extends global reach with big-tech deals
South Korean cable manufacturer LS Cable & System and its Vietnamese subsidiary, LS Eco Energy, have secured a string of contracts from major global technology companies, positioning themselves to ride the wave of soaring investment in power infrastructure for next-generation data centers. In early November, LS Cable & System signed a three-year framework agreement to supply “busducts” to a leading US big tech firm, marking a significant expansion of its presence in the North American market. A
Nov. 19, 2025 -
Hyundai Mobis showcases next-gen electrification, modules in major tech reveal
Hyundai Mobis, the parts-making arm of Hyundai Motor Group, has showcased 50 of its latest mobility technologies to global automakers and suppliers, highlighting advances in electrification and modular systems. The two-day “Tech Bridge 2025: Bridge the Tech, Meet the Drive” exhibition kicked off Monday at Hyundai Mobis’ Electrification Research Center in Uiwang, Gyeonggi Province, marking the first time the company has combined its electrification and module showcases into a single large-scale e
Nov. 19, 2025 -
Hyundai Steel ramps up global push at auto forums
Hyundai Steel said Wednesday it is stepping up its global reach by participating in a series of international automotive body engineering conferences, as the company seeks to broaden its customer base in the Americas and Europe. The steelmaker joined three major industry events this year: Car Body Xperience in Michigan in April; Car Body Parts in Bad Nauheim, Germany in June; and Euro Car Body, also held in Bad Nauheim, in October. The conferences bring together experts from global automakers, p
Nov. 19, 2025 -
Timeline of key events in Lone Star vs. South Korea investor-state dispute
The following is a chronology of major events surrounding the investment dispute between South Korea and the US private equity firm Lone Star Funds over the firm’s acquisition and sale of a controlling stake in the now-defunct Korea Exchange Bank. The case culminated in a 2022 ruling by the International Center for Settlement of Investment Disputes ordering South Korea to pay $216.5 million to Lone Star. That decision was dramatically overturned on Monday. Aug. 27, 2003 — Lone Star Funds acquire
Nov. 19, 2025 -
Asia’s richest tycoon Ambani to visit Korea for talks with Samsung chief
Mukesh Ambani, chair of India’s Reliance Industries and Asia’s wealthiest man, is set to visit South Korea next week for high-level meetings with Samsung Electronics Chair Lee Jae-yong, according to industry sources on Wednesday. Ambani is scheduled to arrive in Seoul on Tuesday for a two-day visit, accompanied by his eldest son, Akash Ambani, who serves as chair of Reliance Jio Infocomm, the telecom arm of Reliance Group, sources said. The upcoming visit is expected to focus on deepening strate
Nov. 19, 2025 -
Samsung supplies TVs, signage solutions to world's largest cruise ship
Samsung Electronics Co. said Wednesday it has supplied 6,000 units of TVs and signage displays to the Star of the Seas, the world's largest cruise ship, operated by Royal Caribbean Group. The South Korean tech giant supplied Crystal UHD Hospitality TVs for guest cabins on the 365-meter-long cruise, offering "vibrant picture quality and an engaging viewing experience" for passengers, according to Samsung. The company added UHD Smart Signage QMC products are also installed in public areas to offer
Nov. 19, 2025 -
‘Smart isn’t enough’: LG veteran Kwon Young-soo on what makes a real CEO
When the recent “Kkanbu Chicken” meetup between Samsung and Hyundai chiefs and Nvidia founder Jensen Huang dominated Korean headlines, Kwon Young-soo — who spent 44 years at LG, including 17 in C-suite roles — saw it as a moment that encapsulated corporate dealmaking. “That’s where real deals start,” Kwon said in an interview with The Korea Herald. “Chaebol owners have to get close. There are things only owners understand about each other.” Kwon, widely known as one of Korea’s most seasoned lead
Nov. 18, 2025