LG Chem, South Korea's premier battery materials producer, announced on Sunday that it would venture into the lithium-phosphate-iron, or LFP, business by constructing a plant with Huayou Group's subsidiary, Youshan. The two companies will build a LFP cathode material plant in Morocco, a region rich in phosphate rock reserves essential for LFP production. Set to be operational by 2026, the plant targets an annual output of 50,000 metric tons, sufficient for around 500,000 entry-level el

South Korea's official data on parental spending for their children's education has long faced criticism for overlooking two significant aspects: expenditures prior to the commencement of public education and those occurring after its completion. To address these concerns and better assess the financial burden on parents, the Ministry of Education plans to look into the cost of “private education” of preschool children and high school graduates who are studying to retake th

TAEAN, SOUTH CHUNGCHEONG PROVINCE -- Hyundai Motor Company’s Ioniq 5 N, a high-performance vehicle based on the foundations of the automaker’s awards-winning all-electric sports utility vehicle, does not look like a typical car built for motorsports. To be fair, it is not a race car. Nonetheless, Hyundai has put together an everyday sports EV that boasts monstrous power with the Ioniq 5 N. The Korea Herald got a closer look at the automaker’s first N-labeled EV and tested out t

Among the biggest names in the 19th Asian Games in Hangzhou is South Korean Lee Sang-hyeok, better known by his gaming handle Faker and reputed to be one of the greatest esports players of all time. The 27-year-old is part of the country’s delegation of 1,140 athletes and officials participating in the Asian Games that kicked off Saturday. Led by Lee, South Korea has formed a national team of 15 players competing in four of seven categories of esports, which is making its debut as a medal

South Korea’s exports in July dropped by the fourth-largest amount among the Organization for Economic Cooperation and Development's member countries, hit by China's sputtering economy, while its imports showed the sharpest fall among them, data showed Sunday. Korea’s export volume in July dropped by 15.5 percent on-year, according to data compiled by the OECD. The drop was the fourth largest among the 38 OECD countries excluding Colombia, whose data has not been added yet.

Tourism during South Korea’s Thanksgiving holiday of Chuseok is expected to rebound to pre-COVID-19 levels, industry sources said Sunday. According to Incheon Airport, the number of passengers who will be using the country's main gateway between Sept. 27 and Oct. 3 is expected to reach 1.2 million, an average of about 170,000 each day. The number has also recovered to 96.6 percent of the corresponding figure in 2019. The figure is also up by 186.7 percent compared to the previous ye

In response to the growing international demand for learning the Korean language, the South Korean Education Ministry took a proactive step in 2021 by creating a government-managed Korean language education curriculum. Prior to the central government's involvement, the selection and distribution of language courses and textbooks were primarily handled by local Korean language education centers. This led to concerns about the lack of structured content that could cater to the diverse languag

The Financial Supervisory Service, South Korea's primary financial regulatory body, has issued management advisories to the National Federation of Fisheries Cooperatives after losing approximately 50.1 billion won ($37.5 million) it poured into an alternative high-yield overseas investment, as revealed by industry sources on Sunday. The NFFC, the umbrella organization for regional fishers' cooperatives throughout the country, reportedly lost the entire principal amount of its investmen

Toyota launched its fourth electrification model in Korea for this year, the luxury hybrid minivan Alphard that features a chauffeured, sedanlike driving experience. The fourth generation of the multipurpose vehicle that has sold some 150,000 units in Japan and abroad hopes to offer “omotenashi” -- a Japanese expression that describes hospitality and mindfulness -- to customers ranging from company executives who need private space, to family car lovers. “Compared to the previo

Korea's parental leave benefits average at 44.6 percent of actual wages, placing it near the bottom of the list among the Organization for Economic Cooperation and Development member nations, data revealed Sunday. Although the country offers an extended parental leave period, the actual utilization rate remains low, with especially adverse impacts on low-income workers, the data showed. In Korea, workers insured for more than 180 days can take up to a year of parental leave to care for ch

Hyundai Engineering on Thursday secured an order from US energy firm GTL Americas to build a plant in the US that will turn natural gas into high-grade diesel, naphtha and jet fuel. Under the project, the gas-to-liquid or GTL facility will be established near the city of Pine Bluff, Jefferson County, Arkansas, to generate some 41,000 barrels of fuel per day, including synthetic diesel or high cetane synthetic fuel, and paraffinic synthetic naphtha. The GTL procedure is a high-tech process that g

South Korean companies have asked the United States to clarify from which foreign companies they are not required to import critical electric vehicle battery minerals under the US Inflation Reduction Act, industry sources said Sunday. Senior executives of South Korean battery and material companies made the request to US Deputy Secretary of Commerce Don Graves during a closed-door meeting in Seoul on Friday. The executives who attended the meeting were from South Korea's three leading car b

Russian Foreign Minister Sergey Lavrov announced plans for an October visit to Pyongyang following the North Korea-Russia summit earlier this month, intensifying speculation about increased military cooperation between the two nations. "In accordance with the decision of (North Korean leader) Kim Jong-un and (Russian President Vladimir) Putin, we will arrange my talks in Pyongyang, which may indeed take place next month," Lavrov was quoted as saying by Russian news agency TASS during a

The Korean Federation of Community Credit Cooperatives, the nation’s leading mutual financial institution, said Friday it had further expanded its global financial inclusion model for developing countries, allowing greater access to financial services that can help them alleviate poverty. “Under the Sustainable Development Goals, a universal call to end poverty and inequality by the United Nations, we will continue to practice environmental, social and corporate governance effort

South Korean modern pentathlete Kim Sun-woo won silver for the country's first medal at the 19th Asian Games on Sunday. Kim scored 1,386 points in total to take home the silver medal in the final of the women's individual modern pentathlon at Fuyang Yinhu Sports Centre in Hangzhou at the ongoing summer Asian Games. She finished 20 points behind Chinese Zhang Mingyu, while China's Bian Yufei took bronze with 1,374 points. Kim's silver was her third consecutive Asian Games medal, following her tea

Nearly two million individuals in Korea have formally declined life-extending medical interventions, choosing instead to prioritize their right to die with dignity when suffering from a terminal condition, data showed Sunday. Data from the National Agency for Management of Life-Sustaining Treatment reveals that as of the end of August, 1,941,231 people have filed an advance health care directive to abstain from life-saving medical assistance since the system's inception in February 2018. Wo

The National Changgeuk Company of Korea, which recently premiered its modern take on traditional changgeuk performances in “Jeong-nyeon” and “The Merchants of Venice,” returns with a traditional Korean pansori, “Shimcheong-ga” for the Chuseok holiday. The production is based on the classic Korean pansori and folktale of Sim Cheong, a young girl who makes a selfless sacrifice to the king of the underwater world in a desperate attempt to restore her blind father

BTS' Jungkook will be back with a new song, "3D," on Friday, his agency said Sunday. Big Hit Music announced the singer will unveil his second solo single at 1 p.m. on Friday. The new song will feature American rapper-singer Jack Harlow. The upcoming single is the latest release from Jungkook since he first came out solo in July with "Seven (feat. Latto)." The 26-year-old singer had a successful start then, with "Seven" nabbing the top place on Billboard's

When the grip of summer loosens and the air turns cooler, Koreans pay particular attention to the price trends of two specific fruits -- apples and pears. At their freshest and most flavorful during this time, the two fruits are the quintessential autumn fruits in South Korea, but there are a few other reasons why people are particularly sensitive to their prices. A time-honored tradition during Chuseok, one of the two biggest traditional holidays here, is to prepare a table full of food offerin

In director Kim Jee-woon’s upcoming black comedy, “Cobweb,” Jung Soo-jung, also known as Krystal from K-pop girl group f(x), plays a chic and edgy rising star, Han Yu-rim, giving the role her own, almost flawless interpretation. The 28-year-old actor seamlessly reproduces a unique tone that actors would use in the 1970s, making it hard to believe that “Cobweb” is Jung's first commercial film role. Jung has previously starred in the indie film, “More Than