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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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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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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Seoulites celebrate coexistence at Wellness Seoul 2024
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Ex-president's daughter investigated for drunk driving accident
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Yoon honors veterans of Korean War in trip to Philippines
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'Culinary Class Wars' producers deny trying to spice up results
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[Herald Interview] Korea needs more advanced emergency medical devices: ZOLL
In South Korea, where a growing number of hospitals and emergency medical staff are recognizing the need to implement higher quality CPR, the defibrillation business is geared for new growth and development in the years to come. ZOLL Medical Corporation, a health care company under Asahi Kasei Group which develops and markets medical devices and software solutions that help emergency care, is eyeing Korea as a strategic market with great potential for business expansion, according to the firm’s
Oct. 5, 2015
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Samsung Electronics ranks 7th in global brand value: report
South Korea's tech giant Samsung Electronics Co. ranked seventh in the world this year in terms of brand value, a global consultancy report showed Monday.According to the annual report compiled by Interbrand, Samsung Electronics came in seventh for this year, with its brand value estimated at $45.3 billion.Samsung's ranking and estimated value were unchanged from a year earlier, the report showed. Apple Inc. topped the pack with its brand value estimated at $170.3 billion, up 43 percent from a y
Oct. 5, 2015
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Korea Black Friday homepage to now allow consumer feedback
The Internet homepage of Korea Black Friday will be upgraded to receive consumer feedback and encourage more participation by companies, which could lead to the expansion of the nationwide sales event aimed at fueling domestic consumption, the government said Monday.The Ministry of Trade, Industry and Energy said initial consumer response from the first nationwide sales program that kicked off last Thursday has been positive, but there is room for improvement.The official homepage, launched at t
Oct. 5, 2015
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S. Korea outpaced by China, Japan in Q3 shipbuilding orders
South Korean shipbuilders were outpaced by Chinese and Japanese rivals in terms of new orders in the third quarter of the year, industry data showed Monday, amid deepening woes over their growing losses.According to the data compiled by global researcher Clarkson Research Services, South Korean shipyards bagged new orders totaling 2.11 million compensated gross tons last month, trailing Chinese shipbuilders at 3.48 million CGTs and Japanese companies with 2.36 million CGTs.South Korea retained i
Oct. 5, 2015
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Shipbuilders' earnings to remain weak through next year
South Korean shipbuilders' earnings are expected to remain in the doldrums until the first half of 2016, although their third-quarter bottom lines may beat estimates after suffering a record loss three months earlier, analysts said Monday.Samsung Heavy Industries Co., the country's No. 3 shipbuilder, is estimated to log 29.8 billion won ($25.4 million) in operating income for the third quarter, down 84 percent from a year earlier, with its sales likely to dip 8.32 percent to 2.99 trillion won ov
Oct. 5, 2015
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Doosan Infracore to cut junior staff
Doosan Infracore, the second largest affiliate of South Korean industrial giant Doosan Group, has recently asked junior-level employees with less than four years of work experience to retire voluntarily as part of its restructuring efforts, according to an internal source. “Corporate executives had summoned the junior staff members individually in the second week of September and some of them left the firm en bloc on Sept. 14,’’ an insider of the construction equipment maker told The Korea Heral
Oct. 4, 2015
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'Zombie companies' weigh on Korea Inc.
A growing number of South Korean companies failed to generate enough operating profit to pay tax and interest payments on their debt, potentially raising downside risks in Asia's fourth-largest economy, data showed Sunday. Out of 628 listed companies excluding financial firms, 34.9 percent of the companies failed to make sufficient profit to pay down the principal on their debt, up from 24.7 percent in 2010, according to LG Economic Research Institute. "As the economy still remains repressed, mo
Oct. 4, 2015
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Korean automakers forecast to log better Q3 earnings
South Korean automakers are expected to post better earnings in the third quarter as the weaker local currency boosted their price competitiveness in the global market, analysts said Sunday. A survey of 23 securities companies showed their consensus estimate of top automaker Hyundai Motor's operating profit coming to 1.57 trillion won ($ 1.32 billion) as of Friday, up 1.9 percent from a month earlier, according to market researcher FnGuide. The consensus for Kia Motor, its sister company, rose 2
Oct. 4, 2015
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Hyundai, Kia see China sales drop 11% in Sept.
Hyundai Motor Co. and its smaller affiliate, Kia Motors Corp., saw their combined sales in China shrink 11 percent on-year in September, underscoring their prolonged setback in the world's largest auto market in the face of fierce competition from local and global rivals, industry data showed Sunday.The two South Korean auto giants sold a combined 135,608 units in China last month, compared with 152,265 units a year earlier, according to the data obtained by the English division of Yonhap News A
Oct. 4, 2015
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Korean Black Friday falls short of market expectations
Bargain hunters waiting in long queues for a shopping spree and numerous doorbuster deals on thousands of products may be what the government expected for what it called “Korea Black Friday.”Customers browse products at a clothing store at Lotte Department Store in Myeong-dong in central Seoul during the first day of Korea Black Friday event on Thursday. YonhapBut consumers and retailers participating in the two-week sale event criticized the government for its hasty decision to host the nationw
Oct. 2, 2015
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Hyundai Heavy to focus on highly efficient solar cell production
As part of its hard-driven restructuring project, Hyundai Heavy Industries announced Friday that it will concentrate on the solar power business, increasing the production of high-efficiency solar cells starting next year. The company said that it will change all solar cell products to passivated emitter with rear locally diffused, or PERL, from the current two tracks of producing both PERL and general type cells. The PERL cells are known to generate 5 percent more power than the general type ce
Oct. 2, 2015
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SK-led petrochemical plant in Singapore may face bankruptcy
An SK Innovation led-petrochemical complex in Singapore has gone into creditor receivership after struggling with debt problems, it was confirmed Friday.This is a step before bankruptcy. But should the project fail to achieve profitability, it could face a court order to shut down, industry insiders said.According to SK and news reports, restructuring specialist Borrelli Walsh has been appointed as a receiver and manager overlooking the possible bankruptcy of Jurong Aromatic Corp. in Singapore.
Oct. 2, 2015
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Hyundai, Kia ordered to pay $28.9 mln for patent infringement in U.S.
Hyundai Motor Co. and its affiliate Kia Motors Corp. have been ordered by a U.S. federal jury to pay $28.9 million for the infringement of patents related to hybrid engines, company officials said Friday. The jury in a Baltimore court rejected the argument by the two South Korean auto giants that the patents owned by Paice are not valid and concluded that the infringement was "intentional." The suit filed by the Baltimore-based company in 2012 focused on the possible infringement of the patent
Oct. 2, 2015
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Designer bag brand Kwani goes global
Korean designer bag brand Kwani (www.kwani.kr), which presents over 45 different bags and accessories, has gained popularity overseas without additional marketing. Kwani CEO Son Kyung-wan said she believes the products have been well received due to quality, price and design, as well as positive social media reviews from customers.“Every customer in the world prefers sophistication and comfort. So Kwani has made it a rule of thumb to produce light and sophisticated bags at reasonable prices,” sh
Oct. 2, 2015
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Hyundai, Kia see U.S. sales grow 18 pct in Sept.
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. saw their combined sales in the United States grow nearly 18 percent in September, helped by strong demand for their recreational vehicle models, industry data showed Friday. The two South Korean auto giants sold a combined 113,835 units in the U.S. last month, up 17.8 percent from a year earlier, the data showed. This outperformed the overall U.S. market growth rate of 15.7 percent in the cited month. Hyundai Motor sold 64,015 cars
Oct. 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
Oct. 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
Oct. 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
Oct. 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
Oct. 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)
Oct. 1, 2015