Most Popular
-
1
Torrential rainfall forces 1,500 to evacuate, causes widespread damage to homes, roads
-
2
[KH Explains] Can smart chargers ease tensions over EV fires?
-
3
1 in 5 households to have breadwinner over 80 in 30 years
-
4
Assembly to review disputed appointment of national soccer team coach
-
5
New Fifty Fifty off to strong start
-
6
Arrival of fall calls for more outdoor festivals
-
7
Evicted guest burns down inn; 3 killed
-
8
[Herald Interview] US election may unleash growth for Korea: Laffer
-
9
Yoon's Prague visit sets stage for W24tr nuclear power plant deal
-
10
Doctors defend colleague accused of blacklisting non-strikers
-
Purchase limits at tax-free shops dampen cosmetics sales outlook
The recent decision by the South Korean customs agency to impose a purchase limit at the country’s tax-free outlets is dampening the sales outlook for local cosmetics firms which generate a major part of their sales via duty-free channels. On July 11, the Korea Customs Service notified all Korean duty-free operators -- including Lotte, Shilla and Shinsegae -- to limit the number of purchases made by each customer to 50 cosmetics and perfume products, and 10 bags and watches at each brand. Touris
IndustryAug. 1, 2016
-
Korea's exports fall 10%
South Korea’s current account surplus extended its record for the 52nd consecutive month in June, but the record surplus was mostly due to falling oil prices rather than an increase in exports over imports on global demand, according to the Bank of Korea on Monday.The current account surplus, the broadest measure of trade, hit a record of $12.17 billion in June, the biggest since the central bank began collecting the trade data in 1980. The June surplus gained $300 million, compared to a year ag
Aug. 1, 2016
-
Issues over DSME-Sonangol contract to be cleared up
Speculation is growing that the takeover problem of the Sonangol project is expected to be clear no later than this week, determining whether Daewoo Shipbuilding and Marine Engineering will be able to receive the scheduled contract fee, sources said Monday. In October 2013, Angola’s state-run oil company Sonangol placed an order for two drill ships with the Korean shipbuilder with $1.2 billion. Sonangol initially agreed to pay 80 percent of the contract fee -- $990 million --when it takes over t
IndustryAug. 1, 2016
-
Naver’s photo app Snow embroiled in plagiarism row
A local start-up has accused South Korean Internet search giant Naver of copying its photo and video-editing app. Seerslab alleged that Naver’s Snow app copied the image and camera functions of its photo-editing app Lollicam. Naver’s Snow is a photo app that enables users to take photos with face-tracking “stickers” and share them with friends. The app has hit 40 million downloads so far since it was first launched in September. Seerslab claims that Snow’s imaging functions, “stickers” and backg
TechnologyAug. 1, 2016
-
'Anipang' to drive SundayToz growth
The power of gaming content is evident nowadays as a growing number of smartphone users seek quality and entertaining content whenever and wherever. Just look at Nintendo and its affiliate Niantic, which recently hit the jackpot with the augmented-reality mobile game “Pokemon Go” based on the animated character series. Similarly, Korea’s listed gamer SundayToz expects to see growth with its flagship puzzle game “Anipang.” The success of its new “Anipang” game series will be reflected in its earn
Aug. 1, 2016
-
Duty-free sales nearly double on-year on tourism boom
Sales of duty-free products nearly doubled last year’s levels due to the recovering tourism industry and continued high spending by Chinese tourists, data showed Monday.According to data from Statistics Korea and the Korea Customs Service, duty-free sales this June were 94.1 percent higher than June last year. Tourists shop at Lotte Duty Free in Sogong-dong, Seoul. (Yonhap)“The numbers may be a bit misleading, because sales were so low last year because of the Middle East Respiratory Syndrome s
IndustryAug. 1, 2016
-
Korean Air hits record for in-flight meals
Korean Air made the largest number of in-flight meals in its history on Saturday, the company said Monday.On Saturday, Korean Air produced 84,936 meals, breaking its record of 77,339 meals on Aug. 1 last year. This shows that a record number of passengers has been flying out of Korea. Korean Air flight attendants pose with in-flight Korean cuisine meals. (Korean Air)In-flight meals are produced at facilities in Incheon International Airport and Gimpo International Airport. Korean Air provides m
IndustryAug. 1, 2016
-
Inspire Integrated Resort, Incheon Airport ink final land deal
Incheon International Airport Corp. has signed a final agreement with Inspire Integrated Resort to begin construction on a resort complex on Yeongjongdo Island by 2020, according to the airport corporation and the Transport Ministry on Monday.Under the agreement, Inspire will invest $5 billion on developing 2.67 square kilometers of land. An artist’s impression of the planned Inspire Integrated Resort (Ministry of Infrastructure, Land and Transport)The first step will be to build the resort with
IndustryAug. 1, 2016
-
Samsung considers LG Innotek parts for Galaxy S phones
[THE INVESTOR] Samsung Electronics is continuing talks with LG Innotek, the parts unit of LG Group, to use the company’s “2 metal chip-on film” for its flagship Galaxy S phones, the Chosun Ilbo reported on Monday. Samsung uses chips and display panels from SK hynix and Chinese rivals, but it is rare for the company to use parts from its cross-town rival LG. The Samsung Galaxy S7 Edge, a curved-screen variant that outsells its flat-screen sibling (Samsung Electronics)The 2 metal chip-on film is u
TechnologyAug. 1, 2016
-
Hyundai Motor sales slip 5.1% in July
Sales of South Korea's leading automaker Hyundai Motor Co. dropped from a year earlier in July due partly to a decline in output caused by a series of labor strikes that led to significant cuts in both domestic and overseas sales, the company said Monday.The automaker's overall sales came to 339,273 cars last month, down 5.1 percent from July 2015.Domestic sales plunged 20.1 percent on-year to 47,879 units.The sharp drop was also attributed to the termination of a temporary cut in excise tax for
MobilityAug. 1, 2016
-
Protest at Ewha Womans University escalates
Ewha Womans University students Monday held their fifth consecutive day of protest against the school’s decision to open a degree-bestowing program for working women without prior experience of higher education. The program, named Future LiFE (Light up in Future Ewha) College, is set to provide official bachelor’s degrees pertaining to “new media production,” “wellness” and “hybrid design” after a certain period of instruction. The details regarding acceptance standards for newcomers and the dur
Social AffairsAug. 1, 2016
-
Young women drive Korean hip-hop scene
What started out as a subculture street movement in African-American communities in New York in the 1970s has now become a mainstream music genre enjoyed by young women here.In Korea today, hip-hop is taking over mainstream pop charts and, surprisingly, women in their 20s and 30s are the biggest consumers of the genre once considered subversive. Those present at recent hip-hop shows may have noticed the masses of 20- to 30-something women with snapbacks backwards on their heads outnumbering the
CultureAug. 1, 2016