Samsung to send donations to China

Samsung on Friday announced a donation of 10,000 articles of anti-contamination clothing, as well as 30 million yuan ($4.3 million) to support China’s response to the novel coronavirus, the company announced Friday. The donations will be sent to the Red Cross Society of China, via Samsung’s Chinese headquarters, it added.  By Shim Woo-hyun (ws@heraldcorp.com)

IndustryJan. 31, 2020

S. Korea's 2nd chartered plane leaves for Wuhan for evacuation

A second chartered plane left for the coronavirus-hit Chinese city of Wuhan on Friday to evacuate some 350 South Koreans from the epicenter of the outbreak of the deadly virus. The Korean Air passenger jet departed from Gimpo International Airport in western Seoul with a quick response team of around 20 medical and quarantine officials on board. The flight came more than 12 hours after South Korea brought home 368 people stranded in China from Wuhan on the first chartered plane. "What we'l

Social AffairsJan. 31, 2020

Action-thriller 'Time to Hunt' envisions dystopia packed with subcultures

Director Yoon Sung-hyun, who bagged several awards here and abroad in 2011 with debut film “Bleak Night,” is returning to the big screen in February with the feature “Time to Hunt,” which he described as a true action flick. The action-thriller revolves around four young men who set out on a journey to start a new life in a fictional, completely destroyed society. The story takes place in what seems like Seoul in the near future, with the city turned into slums followi

FilmJan. 31, 2020

Govt. ordered to reveal records of civilian massacre in Vietnam War

The South Korean government should make public the records involving three soldiers’ alleged role in a civilian massacre during the Vietnam War, Seoul’s Administrative Court ruled Friday. In a second trial ruling on the matter instigated by a local civic group against Seoul’s spy agency, which holds the records, the court ordered their release after redacting the soldiers’ dates of birth. Korean soldiers allegedly killed 74 locals in 1968 during the war according to the

Social AffairsJan. 31, 2020

Hanjin heiress partners with KCGI, Bando for group's management control

The heiress of South Korean airline-focused conglomerate Hanjin Group, widely known for the "nut rage" incident in 2014, has joined hands with a local fund and a builder for the group's management control ahead of a shareholders meeting in March. In a joint statement with local activist fund Korea Corporate Governance Improvement (KCGI) and midsized builder Bando Engineering & Construction, Cho Hyun-ah, the eldest daughter of late Hanjin Group and Korean Air Lines Co. Chairman Cho

IndustryJan. 31, 2020

Local automakers face difficulties sourcing auto parts from China

South Korean automakers are struggling to operate manufacturing lines here following difficulties in sourcing components from China due to the suspension of factory operations in the mainland.  According to Hyundai Motor Group, the automaker has decided to cancel extra working hours at its Ulsan and Jeonju plants this week, following the temporary shutdown of the two partnering factories in China that are responsible for supplying components such as wiring.  To contain the rapidly s

MobilityJan. 31, 2020

Hyosung Heavy Industries expands in Europe with deal in Sweden

Hyosung Heavy Industries said Friday it won a contract to supply high-voltage switchgears in Sweden, clenching a second deal in Europe to expand its presence there. According to the company, it recently landed a contract with Svenska Kraftnet, Sweden’s national power grid, to supply 420-kilovolt switchgears. The company said it will supply the high-voltage switchgears to electric stations in Stockholm by 2021. “Hyosung Heavy Industries plan to expand its power apparatus business

IndustryJan. 31, 2020

Posco’s operating profit down 30% in 2019 amid industry downturn

South Korean steel giant Posco said Friday its operating profit dropped 30.2 percent in 2019 from the previous year, amid the overall industry downturn and protectionism by major trading partners. The steelmaker said its revenue stood at 64.3 trillion won ($53.9 billion), down 0.9 percent on-year. The operating profit posted at 3.86 trillion won, while net profit was 1.98 trillion won last year. The operating margin recorded 6 percent. Its sales volume increased by 400,000 tons on-year to re

IndustryJan. 31, 2020

FM holds dinner talks with EU diplomats on fight against coronavirus, bilateral ties

Foreign Minister Kang Kyung-wha held a dinner meeting with Seoul-based diplomats from the European Union this week to discuss efforts to stem the spread of a new coronavirus, bilateral ties and other issues, the foreign ministry said Friday. On Thursday, Kang hosted the gathering with more than two dozen diplomats, including EU Ambassador to South Korea Michael Reiterer, and voiced hope for close cooperation between South Korea and the EU through high-level exchanges. In particular, Kang use

Foreign AffairsJan. 31, 2020

SK hynix’s 2019 operating profit plunges 87%

South Korean chipmaker SK hynix’s operating profit in 2019 plummeted 87 percent to 2.7 trillion won ($2.2 billion), amid the continued fall in memory chip prices and lower demand, according to its earnings report released Friday. The world’s second-biggest memory provider raised 26.9 trillion won in annual sales last year, a 33.3 percent plunge from 2018. The net profit nosedived 87 percent to 2.02 trillion won for the whole year. The company’s operating margin also droppe

IndustryJan. 31, 2020

S. Korea to send 2nd evacuation flight to Wuhan Friday night

South Korea will send a second chartered flight to the coronavirus-hit Chinese city of Wuhan late Friday to evacuate some 350 South Korean nationals out of the region under lockdown, the foreign ministry said. A Korean Air passenger jet is set to depart from Gimpo International Airport in western Seoul with a quick response team of around 20 medical and quarantine officials on board. It is expected to take off at 8:45 p.m. "We have received approval for the operation of a chartered plane

Foreign AffairsJan. 31, 2020

Places visited by infected patients suspend business as coronavirus jitters continue

Places visited by people who have been confirmed as infected with the new coronavirus are suspending their business operations as part of efforts to contain the spread of the virus that originated in China, industry sources said Friday. The total number of people infected with the virus in South Korea rose to 11 on Friday. A movie theater affiliated with CJ CGV, South Korea's largest multiplex cinema chain, announced it closed on Thursday night and will remain shut until Sunday, after the fif

Social AffairsJan. 31, 2020

Moon calls for ‘extraordinary’ response to coronavirus outbreak

President Moon Jae-in on Friday sought an “extraordinary response” from his top administration officials to contain the coronavirus situation. According to Cheong Wa Dae, Moon urged Prime Minister Chung Sye-kyun to play a central role in government ministries’ response, expressing concern about the spread of the virus in Korea. On Friday, five more Koreans were confirmed to be infected with the new strain of coronavirus. Three of the patients contracted the virus in Korea,

Social AffairsJan. 31, 2020

Face masks, hygiene products running out amid new coronavirus outbreak

Demand for protective face masks and hand sanitizer has soared here as both local residents and travelers from China stocked up as a precaution against the new type of coronavirus, industry sources said Friday. Just days after the first case of the new strain of the pneumonia-like virus was confirmed in the country, surgical masks began selling out at pharmacies in Myeongdong, one of Seoul's most visited tourist spots among Chinese travelers. The visitors from mainland China and Hong Kong lin

Social AffairsJan. 31, 2020

Eventful February of high-profile album releases awaits K-pop fans

Next month will see an unusually feverish K-pop scene with a new album release by superstars BTS. But the music world here will be further abuzz as a number of other high-profile music acts will unveil new albums in February. On the calendar for February is an unprecedentedly eventful lineup of returning K-pop stars, spearheaded by popular girl group GFriend. The six-member female group will be the first to rock the music scene next month, dropping "回:LABYRINTH" on Monday. It is

K-popJan. 31, 2020

[Newsmaker] Despite doctors’ assurances, public uneasy over use of Wuhan evacuation plane

After the government flew the first chartered flight using Korean Air’s B747 to Wuhan and brought 368 South Koreans here on Friday morning, the future use of the plane has come under public scrutiny, despite assurances by doctors about very low possibility of getting infected. According to the real-time air traffic tracker Flight Radar 24, Korean Air’s 22-year-old B747 which has tail number HL7461 was used to evacuate Koreans based in Wuhan, the epicenter of the coronavirus outbrea

MobilityJan. 31, 2020

[Photo News] Asiana Airlines sends relief goods to support Wuhan

Asiana Airlines said Friday that it has sent relief goods including masks and medical products worth 40 million won to support the people in Wuhan, China, as well as authorities’ effort to contain the virus.  The products will be delivered to people in need in China, the air carrier said, adding that it has sent the items on OZ331 flight bound for Beijing and OZ323 bound for Chengdu. By Kim Da-sol (ddd@heraldcorp.com)

MobilityJan. 31, 2020

Vice FM discusses coronavirus outbreak with new Chinese ambassador

Vice Foreign Minister Cho Sei-young met with new Chinese Ambassador to South Korea Xing Haiming on Friday and discussed joint efforts to fight the new coronavirus and other bilateral issues, the foreign ministry said. Their first meeting came after a South Korean chartered flight brought home earlier in the day 368 nationals from China's Wuhan city, the epicenter of the highly contagious disease. Seoul is seeking to send another plane later tonight to evacuate the remaining 350. The new top

Foreign AffairsJan. 31, 2020

Entertainment firm behind BTS seeks IPO underwriter: report

Big Hit Entertainment, the agency behind K-pop sensation BTS, is seeking an underwriter in the initial step to go public, according to news reports Friday. Big Hit has sent a request for proposal to multiple securities brokerage firms to underwrite its initial public offering, an investment banking source was quoted as saying by local news outlet the Bell. The news report did not clarify which stock market in Korea that Big Hit would choose to be listed. An underwriter is responsible for offer

MarketJan. 31, 2020

S. Korea eases rules on extended work hours

South Korea introduced a new regulation Friday allowing an exemption from the 52-hour workweek restriction for institutes involved in crucial research projects or companies that see workloads unexpectedly surge.  The Ministry of Employment and Labor proclaimed the revised enforcement rule of the Labor Standards Act, which loosened the requirements for granting special extended work hours. The rule went into effect immediately.  The extended work hours system, which temporarily all

EconomyJan. 31, 2020