Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Yoon set for talks with Marcos in Philippines
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Can Jennie break the K-pop solo artist slump?
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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First lady’s Dior bag scandal to be at center of Assembly audit
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Yoon honors veterans of Korean War in trip to Philippines
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Seoulites celebrate coexistence at Wellness Seoul 2024
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[KH Explains] Can G-Star level up?
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Ex-president's daughter investigated for drunk driving accident
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Diageo Korea releases new premium spirit
Diageo Korea announced Wednesday the release of its new super-premium spirit W Rare by Windsor. W Rare by Windsor, with 35 percent alcohol by volume, is designed for Korean consumers who prefer smooth-tasting whisky, company officials said. The product is crafted by master blender Douglas Murray with the finest Scotch whisky including from the Royal Lochnagar Distillery and also includes red plum and oakwood flavors as well as the essence of dates.Photo caption: British Ambassador Charles Hay (s
Nov. 4, 2015
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Lotte adds glam factor for urban duty-free race
Lotte Group on Wednesday unveiled some glam factors to its proposed urban duty-free shop sites at the Lotte World Mall and the 123-story Lotte World Tower in Jamsil, southeastern Seoul. “I can confirm that the name of the upscale hotel situated from 76-101th floor of Lotte World Tower is Signiel, to go along with Lotte’s premium department store brand Avenuel. The name of the top-notch condominiums for the superrich to be located on the 44th-71st floors will be the Signiel residence,” said Noh B
Nov. 4, 2015
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Amgen launches Korean affiliate
Amgen, a leading global biopharmaceutical company, officially launched a new affiliate in South Korea on Tuesday, pledging to take the lead in introducing innovative treatments to local patients.The U.S.-based biopharma giant -- best known for its blockbuster rheumatoid arthritis drug Enbrel as well as Neulasta and Neupogen, white blood cell booster drugs used after chemotherapy -- plans to launch new treatments for cancer as well as cardiovascular, rheumatic, blood and bone diseases in Korea.Am
Nov. 4, 2015
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Hyundai Motor launches global premium brand Genesis
Hyundai Motor, the nation’s top automaker, officially launched its global premium brand ‘Genesis’ in Seoul on Wednesday in its efforts to respond to the fast-growing luxury auto market and take another leap forward. Like Toyota’s premium brand Lexus, Genesis will compete with the world’s most renowned luxury brands, Hyundai Motor vice chairman Chung Eui-sun said in his presentation. Hyundai’s Vision G Concept Coupe displayed at the launch event of Genesis, the company’s global luxury brand, in
Nov. 4, 2015
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41% of top 100 firms change over decade: data
More than 40 percent of South Korea's top 100 listed companies have changed over the past 10 years, with domestic-oriented firms unseating exporters, data showed Wednesday. Twenty-four companies made it for the first time on this year's top 100 company list in terms of market capitalization after making a stock market debut, and 17 did so thanks to better performances compared to their 2005 ranking, according to the data compiled by the local market researcher, CEO Score. Of the 41 outgoing fi
Nov. 4, 2015
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Korean firms to boost DRAM output to tackle China's rise
South Korean chipmakers are expected to expand their production of dynamic random access memory chips despite falling market prices in a bid to cope with the rise of Chinese rivals, industry sources said Wednesday. The global contract price for a DDR3 4GB module, the standard in setting the price of DRAMs, came to $16.7 in October, down 9.5 percent from $18.5 posted in September, the data compiled by industry tracker DRAMeXchange showed. DRAMeXchange, however, said South Korea-based Samsung El
Nov. 4, 2015
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NCsoft's net more than halves in Q3
NCsoft Corp., South Korea's leading online game developer, said Wednesday its third-quarter net profit tumbled nearly 60 percent from a year earlier due mainly to weak sales from its flagship products amid a lack of fresh titles. Net income amounted to 30.6 billion won ($27.1 million) in the July-September period, down 59.5 percent from 75.7 billion won the previous year, the company said in a regulatory filing. Operating profit came to 50.5 billion won, down 37.8 percent from a year ago, wi
Nov. 4, 2015
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Daewoo Shipbuilding to sell office building as part of restructuring
Daewoo Shipbuilding & Marine Engineering Co. is moving to sell its main office building in Seoul as part of restructuring efforts to stay afloat, company officials said Wednesday. The officials said three companies have already submitted closed bids to take over the building located in downtown Seoul, estimated to be worth between 170 billion won and 180 billion won ($150 million-$159 million). "The company will name a multiple number of preferred bidders this weekend at the earliest and by ea
Nov. 4, 2015
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SMEs' production index jumps in Sept.
Growth in a key measure of production by South Korean small and medium enterprises hit a yearly high in September, a think tank said Wednesday, in a sign that they are on a recovery track amid signs of improving domestic demand. The output index covering 3,169 local SMEs reached 119.3 in September, up 2 points from a month earlier, according to the IBK Economic Research Institute affiliated with the state-run Industrial Bank of Korea. It is the largest monthly gain in nine months. Since it hi
Nov. 4, 2015
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Global TV market to shrink further in coming years: report
Growth of the global TV market is forecast to further slow in the coming years on falling demand for liquid crystal display TVs, with local TV makers scrambling to beef up their premium lineups in a bid to secure profit, a report said Wednesday. Global TV sales are estimated to reach US$97.1 billion at the end of this year, down from $99.5 billion a year earlier, according to the latest report by market tracker IHS. Its global shipments had amounted to as high as $117.8 billion in 2010, befor
Nov. 4, 2015
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A recap of Lotte founding family feud
Lotte Group chairman Shin Dong-binYonhap SDJ Corporation chairman Shin Dong-jooYonhap Lotte Group founder Shin Kyuk-hoYonhapMonday marked the 100th day of the internal feud at Lotte Group’s founding Shin family. And yes, by now we are sick and tired of the story where the eldest son and the father are attacking the second for dethroning them from the helm.But with their dispute now in court ― former Lotte Holdings vice chairman Shin Dong-joo filed an injunction against Lotte Shopping management
Nov. 3, 2015
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Korean pharma firms set to tap halal market
Eyeing the vast market potential of the world’s burgeoning Muslim community, South Korea’s pharmaceutical companies are seeking halal certification for their drugs to diversify and ramp-up their market share. Halal -- which means “permissible” in Arabic -- certification ensures that a given product strictly complies with Islamic dietary law through production, storage and delivery. Halal foods must be made without blood and exclude meat from carnivorous animals, including pigs, and animals not s
Nov. 3, 2015
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Shinhan Bank to reinforce services for expats
Shinhan Bank vowed to diversify services for expat residents in its efforts to offer expat-specialized services in its domestic branches.Bank chief executive Cho Yong-byoung has called for Shinhan’s “glocalization,” a term for globalization achieved by localization, since his inauguration in March. Cho has emphasized that suiting the needs of foreign businesses operating in Korea is a crucial step in glocalization.Since August 2011, Shinhan Bank has offered a foreigners-only banking unit for for
Nov. 3, 2015
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[SUPER RICH] What if the superrich gave their wealth to the poor?
What would happen if the richest families in every country gave all their wealth to the poor? It’s a far-fetched question, but one that has come up. There is even a measurement for it: the Hoover index -- commonly known as the Robin Hood index -- measures the amount of income inequality in a country by hypothetically distributing the wealth of the rich to the poor.To see how this applies in Asian countries with significant wealth inequality, the Superrich Team applied the Robin Hood index for se
Nov. 3, 2015
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[Photo News] Helping citizens
HELPING CITIZENS -- Leaders in the financial sector provide a citizen with advice on state-led microloans and job opportunities during the “Seoul 2015 Fair for Finance & Employment” at Sindorim Techno Mart in Seoul on Tuesday. The participants include KB Financial Group chairman & CEO Yoon Jong-kyoo (left) and Financial Supervisory Service governor Zhin Woong Seob (second from left). Yonhap
Nov. 3, 2015
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SK denies rumors on buying troubled Daewoo Shipbuilding
SK Group, South Korea's No. 3 conglomerate, on Tuesday denied rumors that it has decided to take over a troubled shipbuilder. "Rumors that SK Group has sought to acquire Daewoo Shipbuilding & Marine Engineering Co. are groundless," SK Holdings Co. said in a filing. Shares of Daewoo Shipbuilding spiked 20 percent at one point in morning trade after local media reported that the Korea Development Bank, the shipyard's largest shareholder and creditor, has agreed with SK Group to sell a controllin
Nov. 3, 2015
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Seoul shares end 0.65 % up on global stock rally
South Korean stocks closed 0.65 percent higher on Tuesday as investors took their cue from a global upswing, with auto shares leading the gain. The local currency gathered some ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index surged 13.16 points to 2,048.4. Trading volume was moderate at 582.9 million shares worth 5.69 trillion won ($5.02 billion), with winners outpacing losers 500 to 318. Analysts said investors loaded up on local shares after U.S. and most Euro
Nov. 3, 2015
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Korea to probe more Volkswagen models for faked emissions
South Korea will likely examine more vehicle models by German carmaker Volkswagen following the U.S. environment agency's announcement that some of its larger models were also found to have faked emission results, government officials said Tuesday. Earlier, the U.S. Environmental Protection Agency posted a notice on its website, alleging that Volkswagen had faked emissions results for 3.0-liter vehicle models. The models are the 2014 VW Touareg, the 2015 Porsche Cayenne, and the 2016 Audi A6 Q
Nov. 3, 2015
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Hankook Tire's Q3 operating profit falls 12.4%
Hankook Tire Co., South Korea's top tire maker, said Tuesday that its third-quarter operating profit dipped 12.4 percent due to slow growth in China's auto market. Consolidated operating profit came to 241.7 billion won ($213.2 million) in the July-September period, compared with 276 billion won a year earlier, the company said in a regulatory filing. The manufacturer did not provide net profit figures. Sales, however, edged up 0.6 percent on-year to 1.73 trillion won, it noted. Hankook Tir
Nov. 3, 2015
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Building materials-maker USG to shift focus to Asia
U.S. building materials-maker USG has expanded its business in the Asian region with a joint venture it formed with Australian firm Boral to strengthen its foothold in the plasterboard market, the company president said.USG president and CEO James Metcalf (Park Hyun-koo/The Korea Herald)“Korea is our second-largest market and is one of the big elephants along with Australia, Thailand and Indonesia,” James Metcalf, USG president and chief executive officer, said in a recent interview with The Kor
Nov. 3, 2015