Most Popular
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Thousands rally in Seoul to call for Yoon's resignation
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Suicide attempts spike among youth in Korea
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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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[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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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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4 in 10 illegal aliens entered S. Korea without visas last year: data
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Korea, China, Japan vow to address yellow dust and climate change
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Korean American documentary ‘Free Chol Soo Lee' wins Emmy
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Korean Air, Jin Air to share six more routes
Korean Air and its budget carrier affiliate Jin Air will have six more codesharing routes to offer passenger convenience, Korean Air said Monday.Starting Monday, Korean Air will codeshare with Jin Air on flights from Incheon to Clark in the Philippines, Hanoi in Vietnam, Honolulu in Hawaii and Taipei, as well as flights from Busan to Cebu in the Philippines and Da Nang in Vietnam. The two air carriers will share ticket sales on the same route through a codeshare agreement. On codeshared flights,
IndustryMarch 28, 2016
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Palmyra ruins generally 'in good shape': Syria antiquities chief
DAMASCUS (AFP) -- Ancient artifacts in the city of Palmyra are in much better shape than expected, Syria's antiquities chief said Sunday after regime forces recaptured the desert oasis from the Islamic State group. Antiquities director Maamoun Abdulkarim said much of Palmyra’s old city was intact and his department would try to restore relics destroyed during the jihadists' nearly year-long rule over the city. A general view shows the remains of the entrance to the iconic Temple of Bel that was
CultureMarch 28, 2016
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Makgeolli baptism -- only in Korea
Busan’s Dong-a University became the center of controversy Monday, after a photo of mass hazing was leaked online by the family member of an admitted freshman.In the shot that immediately went viral, a group of students were shown lined up with hands politely clasped in front while an older-looking student poured makgeolli, milky fermented alcohol, over their bowed heads.Pieces of unidentifiable filth were blended in with the drink.Leaked photo shows Dong-a University students pouring alcohol ov
Social AffairsMarch 28, 2016
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[KOSDAQ Star] Valuation worries weigh on Medy-Tox
This is the fifth in a series of articles analyzing the top 10 companies by market capitalization traded on the tech-heavy KOSDAQ market. --Ed.With a growing population seeking noninvasive cosmetic procedures, dermal filler and Botulinum toxin-maker Medytox has been bolstering its presence in Korea and abroad. The biopharmaceutical company, which manufactures and distributes an injectable neurotoxin for cosmetic use, posted a whopping 60.9 percent surge in annual operating profits last year, out
March 28, 2016
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[Graphic News] Chicken, beer in Korea cheaper than overseas
The prices of chicken and beer in Korea are relatively cheaper than other countries, said local reports on Monday.The market price of a 500 ml-bottle of locally produced beer is $1.69, considerably lower than those sold in the Maldives and United Arab Emirates where it costs $7.19 and $6.63, respectively. These figures are from a recent survey by numbeo.com, a crowdsourced database of the prices of goods around the world. Korean beer ranks 40th in terms of market price around the world. Germany
IndustryMarch 28, 2016
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Outback Steakhouse back on auction block
Outback Steakhouse, the Australian-themed U.S. restaurant chain that led the American-style dining boom in Korea in the mid-1990s, is seeking an exit from Korea after 19 years of business here, local reports said. The U.S. Nasdaq-listed Bloomin‘ Brands, which owns the chain, will open preliminary bids for Outback Steakhouse Korea, with HSBC as its deal advisor. Outback Steakhouse Korea in 2014 ran nearly 110 restaurants across Korea, but the store count has now reduced to less than 70, suffering
March 28, 2016
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SK Planet’s n11.com tops online marketplace in Turkey
E-commerce platform n11.com, operated by a subsidiary of leading mobile operator SK Telecom, topped the online market in Turkey in 2015, the Korean company said Monday.SK Planet, which owns the online marketplace 11st.com here, launched the Turkish version of the site in March 2013. n11.com, SK Planet’s online marketplace in Turkey (SK Planet)“As a latecomer to the industry, we faced tough competition and lacked infrastructure, but we armed ourselves with the mindset of a start-up in the e-comme
IndustryMarch 28, 2016
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Financial reform and risk management
This is the ninth in a monthly series contributed by executive members of the Financial Supervisory Service to address key ongoing financial issues. ― Ed.In 2015, financial reforms and risk management emerged as a major issue in Korea’s financial industry.Most said that Korea’s real economic sector has significantly expanded, but the financial sector does not have the corresponding scale and capacity. And it has been pointed out that competitiveness of the financial sector should improve for sus
March 28, 2016
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Celltrion close to finalizing European sales partners for new biosimilars
South Korean biosimilar developer Celltrion said Monday it is close to striking deals with multiple partners in Europe to lead the local marketing and sales of two new biosimilar drugs, ahead of their expected sales approval in the region later this year. The announcement is aimed at “alleviating uncertainties” over the sales prospects of Celltrion’s biosimilar copies of blockbuster biologic treatments Rituxan (rituximab) and Herceptin (trastuzumab), the firm told The Korea Herald.Truxima, Cellt
IndustryMarch 28, 2016
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Trump‘s remarks fuel debate over Seoul’s nuclear armament
Republican front-runner Donald Trump's remarks about allowing South Korea to nuclearize are adding fuel to a simmering debate over Seoul's potential nuclear option to counter Pyongyang's escalating threats, observers here said Monday.In an interview with the New York Times on Friday, the U.S. real-estate magnet said he would be "open" to allowing the South and Japan to build nuclear arms against the North and China. He argued they would go nuclear anyway if the U.S. keeps its "current path of we
DefenseMarch 28, 2016
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KEPCO, AmorePacific shoot up in market cap ranking
Korea’s state-run utility firm Korea Electric Power Corp. and top cosmetics-maker AmorePacific saw their rankings of market capitalization shoot up among listed companies on the KOSPI this year, on the back of lowered costs on cheap oil and the global popularity of “K-Beauty” products, industry data showed Monday.According to data by the Korea Exchange, KEPCO’s market cap gained 17.8 percent on-year to 37.81 trillion won ($32.27 billion) as of March 23, rising to No. 2 in the KOSPI ranking from
March 28, 2016
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Hanmi Global chief joins 100 best-performing CEOs in Korea
The head of Hanmi Global, a construction management company, joined the list of the 100 best-performing CEOs in Korea released by business magazine Maekyung Economy. He has been named on the list for 11 straight years.Chairman Kim Jong-hoon, who adopted construction management programs for the first time in Korea in 1996, has gained a reputation for growing the company into a leading construction management firm with a global presence in 48 nations. Hanmi Global’s chairman Kim Jong-hoonKim is
IndustryMarch 28, 2016
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KKR chosen as preferred bidder for Kim’s Club
E-Land Group has chosen U.S. private equity giant KKR as the preferred bidder for Kim’s Club, a 37-branch hypermarket franchise with annual revenue of around 1 trillion won ($860 million), it said Monday. “KKR was most willing to invest in Kim’s Club,” the Korean retail group said. The two sides aim to sign a final contract in early May, the group said. KKR, one of the world’s biggest buyout funds, is to commence due diligence on Kim’s Club.The deal, if sealed, would mark the second major takeov
March 28, 2016
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Won-dollar exchange rate takes roller-coaster ride
The won-dollar exchange rate has taken a roller-coaster ride this year, with uncertainty high over its future course. This increasing volatility -- which reflects a complex set of external and internal conditions affecting the country’s economy -- makes it tougher for policymakers to mobilize means to boost growth and for companies to draw up business plans.The rate rose to 1,238.8 won per dollar on Feb. 25, up 66.3 won from where it was at the start of the year, marking the highest level in fiv
March 28, 2016
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[Photo News] Kakao runs global CSR program
KAKAO RUNS GLOBAL CSR PROGRAM -- Mobile messenger operator Kakao ran a volunteer program for nine days in Hanoi, Vietnam, from March 18. A group of Kakao employees took part in a range of activities, including painting walls and watching 3-D movies with students there. (Kakao)
TechnologyMarch 28, 2016
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Regulator extends advisory on youth loans as unemployment chips into age group
The financial regulator on Monday extended the advisory period on loans by youths for another year as high-running unemployment in the age group exacerbates their debt loads from non-banking institutions that charge heavier interest rates.The Financial Supervisory Service (FSS) in February last year had reined in on savings banks that provide loans to college students and other youths by requiring the lenders to inform the borrowers of alternatives from state-run institutions and to set the cred
March 28, 2016
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Kia Motors' K7 sales top 25,000 units
Kia Motors's all-new K7 sedan has been receiving quite a strong market response with its cumulative sales exceeding 25,000 units since its debut earlier this year, industry data showed Monday.Since its debut in mid-January, the cumulative contrasts, including preorders for the second-generation K7, came to over 25,000 units as of Friday, according to the data. At this pace, the figure is expected to reach around 28,000 units by end-March. KIA K7 sedan (Yonhap)The K7 emerged as the best-selling m
MobilityMarch 28, 2016
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GM Korea's Impala sales top 10,000 units in 6 months
GM Korea, the local unit of U.S. carmaker General Motors, said Monday that it has sold more than 10,000 units of the Impala here in the six-month period since its debut last year.From its launch in September until January, the Impala's cumulative sales stood at 9,719 units. Then, in the middle of last month, they exceeded the 10,000 mark, according to the company. GM Korea Impala (Yonhap)GM Korea unveiled the Impala with an aim to take over Hyundai Motor's Grandeur, the leader in the large-size
MobilityMarch 28, 2016
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Samsung Lions send message, top baseball preseason standings
The Samsung Lions, which fell short of winning their fifth straight South Korean baseball championship last year, topped the preseason standings last weekend, reminding their competition that they could make another title run in 2016.The Lions routed the SK Wyverns 11-1 Sunday to finish first in the Korea Baseball Organization preseason with 11 wins and five losses.The preseason champions have gone on to win the Korean Series the same year on six previous occasions, most recently the 2007 Wyvern
BaseballMarch 28, 2016
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Samsung's new Galaxy-upgrade service enjoys popularity in Korea
Samsung Electronics said Monday nearly one out of three local consumers of the Galaxy S7 series are opting for its new membership-based warranty service dubbed "the Galaxy Club" that provides users with new Galaxy smartphones every year.The Korean firm said around 30 percent of the Galaxy S7 series buyers chose to subscribe to the Galaxy Club for a monthly fee of 7,700 won ($6.57). The figure only includes the smartphones sold at official Samsung Electronics shops in Korea. Samsung Galaxy S7 (Yo
IndustryMarch 28, 2016