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South Korea-US tariff talks ease uncertainty, open path for orderly consultation: finance chief
South Korea's Finance Minister Choi Sang-mok said Sunday that last week's talks with the United States on its sweeping tariff scheme helped ease uncertainties and opened the door for orderly consultations. Choi made the remarks upon arriving at Incheon International Airport, west of Seoul, after his visit to Washington, where he, along with Industry Minister Ahn Duk-geun, held trade talks on Thursday with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer. "We clarifi
April 27, 2025 -
SK Telecom vows to take full responsibility for damage from recent data leak
SK Telecom, South Korea's leading mobile carrier, vowed Sunday to take full responsibility for any damage to customers caused by a recent network hacking incident involving the potential leak of subscriber information. Earlier this month, the carrier detected signs of a massive leak of customers' universal subscriber identity module data due to a cyberattack and offered the free replacement of the USIMs of all of its 23 million users. "You can prevent hacking damage by subscribing to the USIM pr
April 27, 2025 -
Acting president orders government to check SK Telecom's response to data leak
Acting President Han Duck-soo on Sunday instructed the government to check the adequacy of SK Telecom Co.'s response measures for a potential major leak of universal subscriber identity module data. On April 18, SK Telecom detected signs of a massive leak of customers' USIM data due to a cyberattack, prompting the company to announce Friday that it would replace the USIMs of all of its 23 million users. Han instructed the Ministry of Science and ICT to "closely" inspect the company's response me
April 27, 2025 -
Hybrids drive Hyundai, Kia SUV sales
Four out of ten Hyundai Motor Company and Kia sport utility vehicle buyers opted for hybrid models in the first quarter of this year in the South Korean market, highlighting the penetration of dual-power vehicles amid a slowdown in electric vehicle demand. According to industry sources Sunday, Hyundai Motor and Kia sold 150,492 SUVs, of which 59,386 units were hybrids, accounting for 39.5 percent. Last year, the domestic sales of Hyundai and Kia hybrid SUVs nearly doubled from 117,499 units in 2
April 27, 2025 -
LG Energy Solution CEO visits Chicago to attract top battery talent
Executives of LG Energy Solution, a leading South Korean battery manufacturer, flew to the US to recruit top professionals set to drive the future of the battery industry. LG Energy Solution hosted its annual Battery Tech Conference in Chicago on Saturday, showcasing the company’s technological capabilities, vision, and research and development initiatives to aspiring researchers as part of its hiring efforts. The conference brought together around 40 master’s and Ph.D. students from renowned in
April 27, 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 -
LX Pantos training center designated as government-backed academy
Korean logistics company LX Pantos announced Sunday that its specialized training center for home appliance installers has been officially designated as an accredited academy operator by the Ministry of Employment and Labor, making it eligible for government support. The designation is part of a state-led initiative, operated by the Labor Ministry and the Human Resources Development Service of Korea, that provides government subsidies to training programs for employees of small and medium-sized
April 27, 2025 -
Naver, Kakao bolster map services to counter Google’s data export push
As Google seeks regulatory approval to export high-precision map data from Korea, local IT giants Naver and Kakao are ramping up their efforts to reinforce their map services -- both in functionality and user experience -- in a strategic push to defend their home turf. “Google appears to be taking an aggressive stance. Coupled with the trade tensions sparked by the Donald Trump administration in the US, the situation has become challenging for local companies. Domestic map application developers
April 27, 2025 -
75 months, zero defects: Hanwha pitches for US military upkeep role
CHANGWON, South Gyeongsang Province — A board stood tall near the entrance of Hanwha Aerospace’s aircraft engine maintenance, repair and overhaul plant in Changwon, South Gyeongsang Province, Thursday afternoon. On it, a sign in the top right corner read “75 months of zero defects in a row.” The no-fault duration, which equates to six years and three months, served as a reminder highlighting the reliability and expertise of Hanwha Aerospace’s aircraft engine MRO business over the years. As the K
April 27, 2025 -
Credit card delinquencies hit 10-yr high in Q1 amid economic slump
Delinquency rates at South Korea's major credit card companies surged to their highest levels in a decade during the first quarter of 2025, reflecting the prolonged economic downturn, industry data showed Sunday. The number of payments overdue by more than one month, such as credit card bills, installment payments and credit card loans, rose across all major credit card firms -- Shinhan, KB, Woori and Hana -- in the first three months of the year, the data showed. Hana Card reported a delinquenc
April 27, 2025 -
Fitch says South Korea resilient amid tariff risks
Fitch Ratings is expected to maintain its stable outlook on South Korea despite growing uncertainties, with fiscal discipline emerging as a key concern over the medium term, the agency’s sovereign analyst said Friday. “Korea’s sovereign rating remains resilient even amid economic challenges from higher US tariffs and recent domestic political volatility,” said Jeremy Zook, director of Asia-Pacific sovereigns at Fitch Ratings, during a media briefing in Seoul following its annual country conferen
April 25, 2025 -
SKT apologizes for hacking breach, offers free USIM replacements
SK Telecom Chief Executive Officer Ryu Young-sang apologized Friday for the recent hacking incident involving the partial leakage of customers' universal subscriber identity module information, pledging to reinforce security measures and replace all customers’ USIM cards. “We sincerely apologize to our valued customers and the public for the significant concern and inconvenience caused by this incident,” Ryu said in a press conference at the company’s headquarters in central Seoul. “As an additi
April 25, 2025 -
Seoul shares rise nearly 1% over S. Korea-US tariff negotiations
South Korean stocks finished nearly 1 percent higher Friday, as investors assessed the outcome of the first round of tariff talks between Seoul and Washington. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index gained 23.97 points, or 0.95 percent, to close at 2,546.3. Trade volume was thin at 386.27 million shares worth 8.2 trillion won ($5.78 billion), with winners beating losers 645 to 238. Institutions and foreign investors combined purchased a net
April 25, 2025 -
Seoul, Washington lay groundwork for tariff relief deal by July
South Korea and the US have agreed to work toward a “July Package," a comprehensive package deal aimed at eliminating US tariffs on Korean exports before July 8, when the 90-day grace period on US "reciprocal tariffs" expires, according to Korea’s top officials on Friday. The agreement came during a “2+2” trade meeting in Washington on Thursday, between South Korean Deputy Prime Minister and Finance Minister Choi Sang-mok, Industry Minister Ahn Duk-geun and their US counterparts, Treasury Secret
April 25, 2025 -
DN Solutions gears up for W1.6tr IPO, eyes US manufacturing push
DN Solutions, Korea’s biggest and the world's No. 3 machine tool maker by market share, has pledged to continue strengthening its US businesses as it gears up for what could be Korea’s biggest initial public offering in three years. “DN Solutions’ market share in the US jumped to the second place from the fourth place last year,” said DN Solutions CEO Kim Won-jong in a press conference at the Conrad Seoul on Friday. “We will turn the US tariff policies into opportunities. We want to become the s
April 25, 2025