Most Popular
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Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
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Thousands rally in Seoul to call for Yoon's resignation
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Most teen sex offenders get away with slap on wrist
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Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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Suicide attempts spike among youth in Korea
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[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
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Delta Air Lines to launch new Incheon-Salt Lake City route in June next year
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4 in 10 illegal aliens entered S. Korea without visas last year: data
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Trade ministers of S. Korea, China hold talks in Beijing
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Korean beef prices continue to climb
Prices of Korean beef, or “Hanwoo,” are continuing to rise due to growing demand and fewer Korean-bred cattle, data showed Friday.According to the Ministry of Agriculture, Food and Rural Affairs, the average price of beef from a cow weighing 600 kg rose from 5.12 million won ($4,450) in 2014 to 5.87 million won in 2015.After passing the 6 million-won mark this year, prices continued to rise. It hit 6.67 million won last month.This marks a nearly 30 percent increase compared to March 2015.(Yonhap
IndustryApril 1, 2016
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Hite Jinro Holdings to sell 4.2 percent stake
Hite Jinro Holdings said on Friday it will sell off 3 million of Hite Jinro shares to redeem the beverage seller’s debts and improve its overall financial health. Hite Jinro Holdings is the parent company of Hite Jinro. The firm said the sales -- worth 80.6 billion won and amounting to a 4.2 percent stake -- would be done though after-hour trading. Hite Jinro’s stocks fell 6.75 percent to close at 26,950 won on Friday. (yoonmi@heraldcorp.com)
April 1, 2016
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Hyundai Merchant Marine expects better finances in second half
Hyundai Merchant Marine expects its liquidity crunch to ease in the second half of the year, after selling its stake in Hyundai Securities at possibly triple the price of the brokerage’s current equity value.“We expect some breathing room in the second half once the sale is completed,” said Choi Young-man, a spokesman for the cash-strapped shipping company. KB Financial Group, the preferred bidder for Hyundai Merchant Marine’s stake in the brokerage unit, has reportedly offered more than 1 trill
April 1, 2016
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Five to vie for PHC maker Sambu
Five bidders have been taken through to the final round in the auction of Sambu Construction Industrial, a local building materials-maker with annual revenue of around 50 billion won ($43,400), the deal’s manager Samjung KPMG said Friday. Sambu Construction Industrial’s headquarters in downtown Seoul. (Yonhap)They include ready-mix concrete-maker Tong Yang, Daewon Construction and Keystone PE, a Seoul-based buyout firm set up by former Woori Bank CEO Lee Duk-hoon. Sambu Construction Industrial
April 1, 2016
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Samsung Bioepis to launch second biosimilar
South Korean drug manufacturer Samsung Bioepis will be launching its second biosimilar product, Renflexis, in Korea at 363,530 won ($315) per box.Its price is about 5 percent cheaper than Remicade -- a product made by Janssen that provided the reference for Renflexi -- but similar to rival Celltrion’s Remsima.Renflexis will hit local markets in June, according to MSD Korea, which is responsible for the marketing and distribution of Renflexis. The drug was approved by the Korean Ministry of Food
IndustryApril 1, 2016
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Mobile giant Kakao named large biz group
Kakao Corp., the operator of South Korea‘s top mobile messenger KakaoTalk, has been included in a government list of large business groups whose mutual investments and loan guarantees will face restrictions, the Fair Trade Commission said Friday.The FTC said Kakao’s total assets surpassed the 5-trillion-won level following its takeover of music streaming and download service provider Melon in January.Every year, the antitrust agency announces an updated list of large business groups with assets
April 1, 2016
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Vietnam needs advanced medical wastewater treatment technology
Following is a contribution by AIC Company General Director Dr. Nguyen Thi Thanh Nhan. – Ed.Currently, Vietnam has nearly 13,700 medical facilities, including 1,260 hospitals; 1,037 prevention medical facilities; 100 training institutions; 180 pharmaceutical production facilities and more than 11,100 medical centers at the ward and commune level. The total amount of medical wastewater from hospitals and medical facilities is around 125.000-150.000 m3/day and night.Medical wastewater of hospitals
TechnologyApril 1, 2016
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[Tobin Harshaw] ‘Free rider’ allies are paying up
Defense alliances are complicated things, but in the U.S. we have bipartisan clarity on one thing: Our allies are letting us down.“If Saudi Arabia was without the cloak of American protection,“ Republican frontrunner Donald Trump said this weekend, ”I don’t think it would be around.” He has also shamed America’s top defense partners in Asia: Japan and South Korea. “We have 28,000 people on the border separating South Korea from this maniac in North Korea. We get nothing,” he said. “We get nothin
ViewpointsApril 1, 2016
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[Newsmaker] KB Financial aims to be top universal bank
KB Financial Group chief Yoon Jong-kyoo said Friday that its planned takeover of Hyundai Securities will bring the group one step closer to his vision of turning it into Korea’s top universal bank. Yoon Jong-kyoo (Yonhap)“We will grow Hyundai Securities into a model for universal banking in Korea based on KB Kookmin Bank’s strength in customer base, reputation and assets,” Yoon told reporters. Universal banking puts retail, wholesale and investment banking services under one roof, providing cust
April 1, 2016
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Looking at the reality of virtual reality
In coming days, people will leave our world for a new realm of gunslingers, cyberbots and other exotic sights. Their ticket out of here will be the Oculus Rift — a $600 virtual reality headset hitting the consumer market.Hmm, even from here we can see, through regular prescription spectacles, that you are unimpressed. You wonder if virtual reality is another goofy, expensive fad like 3-D television. You also remember hearing about Google Glass, the $1,500 augmented-reality eyeglasses that allowe
ViewpointsApril 1, 2016
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International St. Mary’s Hospital to have joint operation with UAE’s Royal Hospital
Catholic Kwandong University International St. Mary’s Hospital said Friday it has sealed an agreement with Royal Hospital in Sharjah of the United Arab Emirates for a joint operation, paving way for advancement into the Middle East.The two sides signed a memorandum of understanding on March 23.The ceremony was attended by H.H Sheikh Faisal bin Khalid Mohammad Al Qasimi, the chairman of Royal Hospital, Robinder Singh MD, the CEO of Royal Hospital, Dr. Park Moon-seo, the secretary-general of Inche
Social AffairsApril 1, 2016
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Blizzard CEO bets on human in StarCraft match against AI
Following the historic Go match last month, which ended in a 4-1 victory for the artificial intelligence software AlphaGo, the AI software’s developer Google DeepMind has said that its next target could be real-time strategy game StarCraft. Blizzard CEO Michael Morhaime (right) takes part in a media interview in Seoul, Friday. (Kim Young-won/The Korea Herald) Over the past weeks, top officials from DeepMind, an
TechnologyApril 1, 2016
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Quarantine measures for foregin vessels splishod
Foreign vessels detected to be harboring pathogens were found to have moved from one local fishing port to another without any quarantine measures taken, officials said Friday.According to the Health and Welfare Ministry’s audit reports for the Korea Centers for Disease Control and Prevention and the National Quarantine Station, a total of 66 foreign ships contaminated with pathogens moved through local ports in 2014. More than 205 ships stationed in Korea were also excluded from quarantine cont
Social AffairsApril 1, 2016
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[ELECTION 2016] Conservatives battle in Saenuri stronghold
DAEGU -- Wearing dark suits and red jackets, men and women, mostly between their 40s and 60s, gathered in front of a building in Suseong district, Daegu, one of the most affluent areas in South Korea’s third biggest city.Their gathering appeared to resemble a friendly reunion of old friends as they addressed one another by their first names or terms of endearment such as “brother” and “sister.” They were supporters of President Park Geun-hye and the ruling Saenuri Party that had volunteered to c
PoliticsApril 1, 2016
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Five to vie for PHC maker Sambu
Five bidders have been taken through to the final round in the auction of Sambu Construction Industrial, a local building materials-maker with annual revenue of around 50 billion won ($43,400), the deal’s manager Samjung KPMG said Friday. Sambu Construction Industrial’s headquarters in downtown Seoul. (Yonhap)They include ready-mix concrete-maker Tong Yang, Daewon Construction and Keystone PE, a Seoul-based buyout firm set up by former Woori Bank CEO Lee Duk-hoon. Sambu Construction Industrial
IndustryApril 1, 2016
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Tesla to enter Korea with Model 3
Tesla’s CEO hinted on Twitter on Friday that the U.S. luxury electric vehicle maker will enter the Korean market with the new Model 3, which is the firm’s first mass-market brand. (Elon Musk's Twitter)In reference to the countries where preorders of the 2017 Model 3 will be available, Tesla CEO Elon Musk made it clear that Korea is one of the seven countries.There have been rumors over the entry of Tesla into the Korean market since last December when the EV maker reportedly signed a contract f
MobilityApril 1, 2016
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Seoul stocks open lower on foreign selling
South Korean share prices opened lower on Friday as large cap shares started bearish on foreign selling. Seoul share prices are displayed on an electronic board at the Korea Exchange. (Yonhap)The benchmark Korea Composite Stock Price Index slipped 5.37 points, or 0.27 percent, to 1,990.48 in the first 15 minutes of trading. As of 10:02 a.m., the index was trading 0.6 percent lower at 1983.81.Analysts said sentiment was down on foreign net selling, which stood at over 60 billion won ($52.4 millio
April 1, 2016
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Mobile giant Kakao named large biz group
Kakao Corp., the operator of South Korea‘s top mobile messenger KakaoTalk, has been included in a government list of large business groups whose mutual investments and loan guarantees will face restrictions, the Fair Trade Commission said Friday.The FTC said Kakao’s total assets surpassed the 5-trillion-won level following its takeover of music streaming and download service provider Melon in January. (Kakao Corp.)Every year, the antitrust agency announces an updated list of large business group
IndustryApril 1, 2016
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More executives earning over W500m a year
A rising number of executives in South Korea earned more than 500 million won ($437,000) a year in 2015, a stock-evaluating website said Friday.A total of 748 corporate executives earned more than 500 million won ($437,000) in annual salaries and other income. The figure marks a 3.9 percent increase from 720 executives in the previous year, said Chaebul.com. The results were based on the paychecks of the standing board members at 2,643 nationwide companies. Severance pay and stock options were i
IndustryApril 1, 2016
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North Korea launches short-range missile, again
North Korea fired a short-range surface-to-air missile into the East Sea on Friday, the Joint Chiefs of Staff said. It is the latest in a string of verbal and security provocations by Pyongyang as world leaders including those from U.S., China, Japan and South Korea are gathered in Washington for antinuclear talks.“North Korea fired one short-range land-to-air missile into the East Sea from Seondeok of South Hamgyeong Province at around 12:45 p.m.,” the JCS said in a statement. Seondeok, located
DefenseApril 1, 2016