HONGCHEON, Gangwon Province — Eight high-speed machines were mounting electronic components barely visible to the naked eye onto circuit boards at Samsung Medison's newly expanded factory Friday, offering a glimpse of the automation behind the medical device maker's 50 billion won ($37.4 million) push to break into the world's top three ultrasound equipment manufacturers. Inside the cleanroom, the machines worked around the clock, placing components as small as 0.1 to 0.2 millimeters onto circui

Construction Industry Guarantee, South Korea's leading construction guarantee provider, celebrated its 30th anniversary Thursday by announcing plans to speed up AI-driven innovation and expand digital financial services. CI Guarantee held a commemorative ceremony at the Westin Josun Seoul, bringing together some 250 guests, including Kim Sung-hwan, director of the construction industry division at the Ministry of Land, Infrastructure and Transport; Nam Young-hee, Incheon’s deputy mayor for balan

South Korea on Friday confirmed that Google had implemented key security measures required to export detailed Korean map data, bringing the US tech giant a step closer to offering full navigation services after nearly two decades of regulatory hurdles. The Ministry of Land, Infrastructure and Transport said an interagency review committee had verified Google's compliance with security conditions attached to its approval to export 1:5,000-scale map data, following a meeting with government offici

South Korea's top brokerage firms saw their earnings boom cool sharply in the third quarter, as sluggish stock trading, rising market interest rates and valuation losses on investment assets weighed on their bottom lines. The combined net profit of the country's five largest brokerages — Mirae Asset Securities, Korea Investment & Securities, NH Investment & Securities, Kiwoom Securities and Samsung Securities — came to 851.2 billion won ($640 million) on a consolidated basis in the July-Septembe

Import prices fell again in October driven by a stronger South Korean won and lower oil prices, central bank data showed Friday. The import price index dropped 1.8 percent on-month last month, reversing from a 1.9 percent gain in September, according to the preliminary data from the Bank of Korea (BOK). The index had declined for three consecutive months since June. The BOK said the on-month decline came as the Korean won strengthened against the US dollar by 1.6 percent over the one-month perio

Kumho Petrochemical Group is strengthening workplace safety and environmental management across its major affiliates, introducing smarter monitoring systems, tighter chemical safety controls and resource recycling technologies. The South Korean petrochemical group said Thursday its key subsidiaries, including Kumho Petrochemical, Kumho P&B Chemicals, Kumho Mitsui Chemicals, Kumho Polychem and Kumho Resort, are expanding preventive safety measures while improving production processes to reduce wa

South Korean restaurant franchise Damga has been recognized at the 2026 Korea Small and Mid-sized Enterprise Innovation Awards for its business model combining premium aged meat with competitive pricing and cost-efficient franchise operations. Hosted by The Korea Herald and Herald Business, the awards recognized Damga in the premium beef charcoal-grill franchise category. Operated by Damga Co., led by CEO Kim Wang-san, Damga Charcoal Grill specializes in beef and Grade 1 domestically produced po

Nvidia CEO Jensen Huang was mobbed by fans in Seoul, shared fried chicken and beer with Korean business titans and charmed television viewers with the story of his marriage. Few foreign business leaders have enjoyed such a warm reception in South Korea. Now, revelations about his infidelity have tarnished that carefully cultivated image, leaving some Korean admirers disappointed and others questioning what his uncertain future means for the company they have invested in. Huang acknowledged being

South Korea plans to make it significantly harder for banking group chiefs to stay in power beyond two terms, requiring at least 75 percent shareholder approval for a third or subsequent term instead of imposing an outright ban. The tougher voting requirement is a centerpiece of a governance reform package announced by the Financial Services Commission on Thursday. It aims to curb entrenched leadership, strengthen board independence and tighten oversight of executive pay. The measures follow Pre

Mirae Asset Securities unveiled plans Thursday to cancel about 1.4 trillion won ($1 billion) worth of treasury shares as part of a new shareholder return policy, even as valuation losses on its SpaceX investment pushed the brokerage into the red in the third quarter. The company plans to cancel 65 million common shares held in treasury, equivalent to about 60 percent of its existing holdings, following its annual general shareholders' meeting next year. Mirae Asset valued the cancellation based

Ahead of tougher US curbs on Chinese-sourced materials in defense equipment starting next year, South Korean firms are ramping up investments in rare-earth permanent magnets, seeking to capitalize on growing demand for supply chains independent of China. LS Cable & System has announced a 350 billion won ($263 million) investment to build a rare-earth magnet plant in Gumi, North Gyeongsang Province. Another magnet maker, KMMI, has announced a 300 billion won investment to expand its rare-earth an

Starbucks Korea fell into the red for a second straight quarter with wider losses in the third quarter, still reeling from the backlash over a May marketing campaign that evoked one of the most tragic chapters in the nation’s democratic history. According to earnings data released Wednesday, SCK Co., which operates the chain, posted an operating loss of 45.3 billion won ($33.9 million) for the July-September period, reversing a 60 billion won profit a year earlier. The loss amounts to about 2.5

Singapore's Ambassador to Korea, Wong Kai Jiun, expressed high hopes for deeper cooperation between Singapore and South Korea under their strategic partnership. "Because our two countries share common strategic perspectives, such as on free trade, multilateralism, and a rules-based international order, we have found each other to be ready and natural partners across many sectors," Wong said during the seventh session of the 10th Global Biz Forum on Wednesday. The forum, hosted by The Korea Heral

South Korean shipbuilders could gain a rare opportunity to build warships for the US Navy at their domestic yards, but a political shake-up in Washington threatens to complicate the Pentagon's emerging procurement plan. The proposal would allow allied shipbuilders to construct the first one or two vessels in their home countries before shifting subsequent production to the US. For Korean companies, the arrangement could provide immediate orders while giving them time to expand their American shi

LX Hausys has won a 2027 Home Reno Award from US lifestyle magazine Good Housekeeping for Viatera Solea, an engineered stone surface designed to combine the appearance of natural marble with durability and easy maintenance. The annual awards recognize home renovation products and services for their design, functionality and performance, based on expert evaluations and testing. Viatera Solea features subtle gold-toned veining against a white background, creating a marble-like appearance. Its patt