Most Popular
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AI textbook bubble could burst, expert warns
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Food tycoon Paik Jong-won's Theborn Korea pushes toward IPO
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Samsung tightens its belt amid crisis winds
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North Korean trash balloons cross border day after Seoul military parade
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Pay debate plagues foreign nanny pilot
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Prosecution closes 'Dior bag' case amid opposition uproar
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K-pop star lip-syncing controversy flares up again
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Man escapes DUI charges by downing bottle of soju while pulled over
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35% of S. Koreans view unification 'unnecessary'
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Ban meets N. Korean FM, expresses hope for further dialogue between Koreas
U.N. Secretary-General Ban Ki-moon expressed hope for more dialogue and exchanges between South and North Korea when he met with North Korean Foreign Minister Ri Su-yong on Thursday, Ban's office said. Ban also welcomed August's inter-Korean deal to defuse a military standoff and a follow-up agreement to hold reunions of families separated by the Korean War, saying the agreements would pave the way for greater inter-Korean dialogue, reconciliation and cooperation. The meeting happened as Ri w
North KoreaOct. 2, 2015
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S. Korean mobile ad market to top 1 tln won
South Korea's market for mobile advertisements is expected to surpass the 1 trillion won ($849 million) mark this year on the back of the country's high smartphone penetration, data showed Friday. The market size is estimated to reach 1.05 trillion won this year, which will mark a 27.2 percent on-year rise, the Korea Internet & Security Agency said. South Korea's mobile advert market soared 100.3 percent on-year in 2014 to 832.9 billion won. Industry watchers said the robust growth is fueled
IndustryOct. 2, 2015
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S. Korea's consumer prices edge up 0.6 pct on-year in Sept.
South Korea's consumer prices grew less than 1 percent for the 10th month in a row in September, a government report showed Friday, as Asia's fourth-largest economy grapples with deflation concerns. The country's consumer price index inched up 0.6 percent last month from a year earlier, the report by Statistics Korea showed. The latest number, however, fell 0.2 percent from the previous month, the first time it has dropped into minus territory this year. "Low international oil prices, along
Oct. 2, 2015
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S. Korea's current account surplus narrows in Aug.
South Korea's current account surplus shrank from a month earlier in August mainly on a fall in exports that led to a cut in the surplus in the goods balance, data showed Friday. The current account surplus came to $8.46 billion in August, compared with a revised $9.3 billion surplus in the previous month, according to the preliminary data from the Bank of Korea. The on-month drop was largely attributed to a greater drop in the balance of goods, which slumped to $8.97 billion from $10.05 billi
Oct. 2, 2015
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S. Korean banks' loan delinquency rate rises in Aug.
The delinquency rate for loans extended by South Korean banks rose in August from a month earlier due to a rise in soured loans extended to companies and households, the financial watchdog said Friday. The average delinquency rate of bank loans stood at 0.76 percent at the end of August, up 0.07 percentage point from a month earlier, according to the Financial Supervisory Service. From a year earlier, the figure dropped 0.2 percentage point from 0.96 percent, it added. Loans with both the pri
Oct. 2, 2015
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S. Korea‘s last MERS patient tests negative
The last South Korean patient previously diagnosed with Middle East Respiratory Syndrome has tested negative for the virus, health officials said Thursday, with the number of infected people in the country reaching zero. As a result, an official declaration of the end of the MERS outbreak can be made on Oct. 29, 28 days after the last person ever diagnosed with MERS showed a complete recovery from the disease. In South Korea, no additional cases or fatalities have been reported since early Jul
Social AffairsOct. 2, 2015
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Three consortiums apply for Internet bank license
Three consortiums led by information technology firms applied for a preliminary license to launch South Korea's first Internet-only bank, the financial regulator said Thursday.The Financial Services Commission (FSC) said the applicants are Kakao Bank, K-Bank and I-Bank and that it will give approval to one or two operators after a months-long review of their qualifications. The watchdog received applications on Wednesday and Thursday.Led by Kakao Corp., the operator of No. 1 mobile chat applicat
IndustryOct. 1, 2015
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Busan film festival celebrates 20th anniversary
The Busan International Film Festival kicked off in the southern port city of Busan on Thursday as it celebrated its 20th anniversary with a rich lineup of films and celebrities.Founded in 1996, it unarguably has developed into Asia's largest film festival with a budget of about 12 billion won (US$10 million) and over 220,000 visitors from around the world as of last year.This year's festival opened with a ceremony hosted by Afghan actress Marina Golbahari and Korean actor Song Kang-ho. "The BIF
FilmOct. 1, 2015
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[Newsmaker] Russian strikes again expose U.S. disarray
Russia’s dramatic entry Wednesday into the Syrian war put the United States on the back foot once again and left Washington struggling to regain the military and diplomatic initiative.As U.S. Secretary of State John Kerry was in New York trying to coordinate with his Kremlin opposite number Sergei Lavrov, a Russian officer contacted the U.S. embassy in Baghdad. (Yonhap)His message was simple: Russian jets are about to launch air strikes in Syria, please stay out of their way.Kerry quickly protes
World NewsOct. 1, 2015
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Outdoor apparel-makers shift focus to everyday attire
South Korean outdoor clothing brands are seeking breakthroughs in casual wear in the face of waning demand for their flagship clothing lines like hiking pants and padded jumpers. Korean boy band iKON poses with Nepa’s new clothing line for fall and winter 2015. (Nepa)Faced with a downturn after enjoying staller growth for years, they are scrambling to introduce practical items and easy-to-wear everyday attire to diversify their product lineups. “Outdoor looks more suitable for daily use and athl
IndustryOct. 1, 2015
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Laneige concludes Silk Road tour
Beauty brand Leneige concluded its two-month promotion tour around Asia to show off its BB cushion foundation. The show was held in Bangkok, Kuala Lumpur, Shanghai, Qingdao, Beijing and Xian. Guests were able to use the cushion foundation themselves, enjoy entertainment and participate in various events. “The journey started from Xian, the starting point of the ancient Silk Road, and this is where Laneige is headed to promote global Asian beauty,” the brand spokesman said. By Bae Ji-sook (baejis
IndustryOct. 1, 2015
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Caffe Bene to open 1st franchise outlet in Vietnam
Korean coffee shop brand Caffe Bene opened its first franchise outlet, “Caffe Bene SC Vivocity,” in Ho Chi Minh City. Placed in the bustling shopping mall of SC Vivovity, the 297 1/2-square-meter coffee shop sells Caffe Bene’s best-selling shaved ice desserts alongside bagels for busy shoppers. The company already has two outlets in Vietnam, directly operated by the Korean headquarters. It plans to open 47 more there by 2016. By Bae Ji-sook (baejisook@heraldcorp.com)
IndustryOct. 1, 2015
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Glucks Schwein to hold Oktoberfest
SPC Group’s charcuterie brand Glucks Schwein will hold an “Oktoberfest in Glucks Schwein” event until Oct. 31 to mark one of the world’s largest beer festivals in Germany. During the period, a variety of German dishes, including Schweine Haxen (roasted pork knuckle), sausage barbecue and pork barbecue will be presented alongside German beers -- Kellerbier, dark lager and pilsner. By Bae Ji-sook (baejisook@heraldcorp.com)
IndustryOct. 1, 2015
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KFC offers Smoky Wild Chicken Burger
KFC has launched the Smoky Wild Chicken Burger made with a 100-percent chicken breast patty, cheese and lettuce. This is added with smoky flavor and the original barbecue sauce infused with white cheddar cheese and sweet onion cream. The Smoky Wild Chicken Burger is priced at 3,300 won ($2.80) and the combo meal is 4,900 won. But the company will offer a special set of the regular combo meal with a Petitzel fruit jelly for 3,900 won until Oct. 15. By Bae Ji-sook (baejisook@heraldcorp.com)
IndustryOct. 1, 2015
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Charmzone releases butterfly mask pack
Charmzone launched two varieties of mask packs for eyes. The Nabi (butterfly) lift-up eye mask contains deer antler extract and snail slime extract, which smoothen wrinkles around the eyes. The Nabi tone-up mask contains pearl protein extract and bird’s nest extract that brighten the eye areas. The masks are designed with lace to emphasize the main concept of the butterfly. The hydrogel, which melts when met with body warmth, delivers the substances more effectively, the company said. By Bae Ji-
IndustryOct. 1, 2015
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HanSkin launches bee venom serum
Cosmetics brand HanSkin released its Royal Golden Bee Venom Bio Ample, which contains a small amount of bee venom that could help with skin wrinkles, brighten the skin tone and soothe the skin. The 28 ample set should be used every day for nearly a month to see the abovementioned effects, the company said. Alongside the venom, the ample contains “hydrolyzed collagen,” which brings nutrition to the skin and enhances its elasticity. By Bae Ji-sook (baejisook@heraldcorp.com)
IndustryOct. 1, 2015
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Sulwhasoo Men releases cleansing foam, cream
Sulwhasoo Men, the premium skin care brand for men by AmorePacific, launched its Refreshing Cleansing Foam and Age Defying Cream. The cream made with ginseng seed oil moisturizes the skin and boosts revitalization, the company said. It can be applied after using the already-released Bonyoon Essence and fluids. The cleansing foam contains natural powder substances that function as daily scrub material, removing old tissue and dirt. The Refreshing Cleansing Foam is around 30,000 won ($25.50) and t
IndustryOct. 1, 2015
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Burberry opens flagship store in southern Seoul
Burberry flagship store in Cheongdam-dong, southern Seoul. Burberry KoreaBritish luxury brand Burberry opened its flagship store in Cheongdam-dong, southern Seoul, on Thursday.The building will work as the showroom of not only Burberry products but also its state-of-the-art information technology, and work as the epicenter of the company’s omni-channel marketing -- the integration of brick-and-mortar stores and the digital world. “The building sells the largest Burberry product assortment for me
IndustryOct. 1, 2015
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Volkswagen Korea CEO faces Assembly audit
Volkswagen Korea CEO Thomas Kuehl faces a parliamentary audit as the National Assembly’s transport committee decided to call him as a witness next week over his company’s emissions-rigging scandal. “Considering the status of Volkswagen Korea in the nation’s imported car market, it is necessary for the company head to explain what it will do to minimize the impact of the recent emissions scandal in the U.S. by its parent company on Korean consumers,” the committee said in a statement. Volkswagen
Latest NewsOct. 1, 2015