Costco’s steep membership hike tests loyalty of Korean shoppers

Costco Korea, the local unit of the US-based warehouse retailer, recently announced a double-digit hike in membership fees, sparking concerns over potential customer attrition amid a sluggish domestic consumption environment. Costco Korea said Tuesday it plans to raise the prices of its three types of annual memberships — Gold Star, Business and Executive — starting in May, marking the first increase in eight years, since 2017. The Gold Star membership, for individual customers, will rise by 11.

May 5, 2025

Samsung to pay language test fees for workers in talent push

Samsung Electronics Chair Lee Jae-yong has introduced a new initiative to support employees taking conversation tests in seven foreign languages, reflecting his ongoing commitment to cultivating global talent. According to industry sources on Thursday, Samsung Electronics informed all employees in its Device Experience division on Monday that it will fully reimburse the cost of conversation test fees — up to twice a year — for seven languages: Korean, English, Vietnamese, Russian, Spanish, Chine

May 1, 2025

CU launches visa support services for foreign nationals

Convenience store chain CU announced on Thursday that it launched visa support services tailored to foreign residents in Korea, aiming to assist with application processes and enhance accessibility. Offered in partnership with K-Visa, the country's leading visa service provider, the new service will cover a wide range of needs including marriage, employment, investment, immigration and permanent residency. By scanning a QR code displayed at CU stores and filling out a brief form, customers are i

May 1, 2025

Hyundai E&C recognized as No. 1 overseas builder with $140b milestone

Hyundai Engineering & Construction announced Wednesday that it received the highest honor in overseas construction from the Korean government, recognizing its cumulative overseas orders exceeding $140 billion. The award was presented at a ceremony celebrating the landmark achievement of $1 trillion in total overseas construction contracts secured by Korean companies. Hosted by the International Contractors Association of Korea and sponsored by the Ministry of Land, Infrastructure and Transport,

April 30, 2025

Posco Holdings issues $700m in global green bonds

Posco Holdings announced on Tuesday that it had successfully raised $700 million through the issuance of global green bonds in the overseas bond market, securing a stable source of funding for the company's future growth initiatives. Despite challenging market conditions driven by increased volatility following the US Trump administration’s recent tariff announcement, Posco Holdings became the first Korean company to successfully issue both five-year and ten-year bonds. The issuance comprises $4

April 29, 2025

Korea Herald Roundtable for Pharma & Biotech

The Korea Herald will host the 2025 US Strategy Roundtable for Pharma and Biotech at the Korea Chamber of Commerce and Industry in Seoul on Tuesday. The roundtable will bring together key players in the biopharmaceutical industry, including leading firms and innovative biotech startups aiming to expand into the US and global markets. Former Justice Minister Kang Kum-sil, now a partner at One Law Partners, will deliver the opening address. The keynote presentation will be given by Kurt Tong, mana

April 27, 2025

Lotte Biologics kicks off ADC service at Syracuse plant

Lotte Biologics announced on Thursday that it has signed a manufacturing deal with a biotech firm based in Asia to produce a clinical-stage antibody-drug conjugate candidate. The deal represents the first major milestone in launching full-scale operations at the company’s ADC manufacturing facility, located at the Syracuse Bio Campus in the US state of New York, an expansion project that began in 2023. Through the contract, Lotte Biologics is officially introducing its ADC contract development a

April 24, 2025

SK Bioscience defeats Moderna in mRNA patent dispute

SK Bioscience announced Wednesday that it has secured a definitive legal victory in its patent invalidation suit against Moderna, successfully challenging the biotech giant’s Korean patent related to messenger RNA (mRNA) vaccine technology. The contested patent covers “modified nucleosides, nucleotides, and nucleic acids and their uses” — a foundational component in mRNA-based therapeutics. Moderna’s use patent had been the only registered intellectual property in Korea pertaining to mRNA manufa

April 23, 2025

APR's head researcher stresses safety, results

As global demand for Korea’s skin care expertise grows, access to professional dermatological care remains limited in many international markets. To bridge this gap, APR — a rapidly expanding Korean beauty tech brand — is introducing innovative at-home skin care devices both domestically and abroad. The company is on the verge of surpassing 1 trillion won ($705 million) in cumulative sales, a benchmark achieved by only a select few in Korea’s beauty sector, including industry giants like Amorepa

April 21, 2025

Samyang Roundsquare CEO steps down, continues to lead global push

Vice Chair and CEO of Samyang Roundsquare Kim Jung-soo, known for revitalizing the company through the global success of the Buldak series, has officially stepped down from her position as CEO of the group’s holding company, Samyang Roundsquare. Samyang Roundsquare announced Monday that Kim had officially resigned from the CEO role with the holding company earlier this month. Kim held the position for less than two years, having assumed the role in September 2023. She will continue to serve on t

April 21, 2025