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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Ex-president's daughter investigated for drunk driving accident
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Seoulites celebrate coexistence at Wellness Seoul 2024
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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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Hyundai Motor workers vote on walkout, 3 shipyards launch joint strike
Unionized workers at Hyundai Motor Co., the country's largest automaker, on Wednesday began their vote on whether to launch a strike as their leaders have failed to narrow differences on raising wages and other benefits in previous negotiations with the management.The outcome of the vote will be due early Thursday, the labor union with some 48,000 members said. If they vote to launch a strike, it would mark the fourth straight year that the automaker's workers walk off their jobs.Hyundai Motor w
Sept. 9, 2015
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Netflix to tap into S. Korean market in 2016
A high-ranking Netflix official said Wednesday the popular U.S. video service provider will tap into South Korea early next year, a move which is anticipated to bring significant changes to the local online contents industry."We are very excited about the opportunity more than anything else. There are great opportunities to bring contents from Korea to rest of the world, and bring global contents to consumers (here)," Greg Peters, a partnership official in Netflix, told Yonhap News Agency.Netfli
Sept. 9, 2015
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Air France-KLM digital baggage tracking system launch delayed again
Air France-KLM’s electronic bag tag and baggage tracker will not be available to its customers by end of this year, the airline group’s general manager for Korea said. “I don’t think we will be able to launch the digital tag technology service in Korea and elsewhere within this year,” Celine Balmelle, head of the Franco-Dutch group’s Korean operation said on Sept. 2 in an interview with The Korea Herald. It has been widely expected that the Europe’s second-largest carrier will unveil the permane
Sept. 9, 2015
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Samsung rules out workforce reduction
South Korea's No. 1 tech giant Samsung Electronics Co. said Wednesday it is relocating a small portion of its workforce, denying rumors that it plans to reduce its management-related staff amid a slowdown in earnings."It will only be relocations of workers," a high-ranking Samsung Electronics official said, denying the market's rumor that the company will seek to cut 10 percent of its management staff in departments such as sales and public relations.Samsung currently employs 320,000 workers wor
Sept. 9, 2015
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Hyundai launches all-new Avante to target global customers
Hyundai Motor Co., South Korea's top automaker, launched the sale of its all-new Avante subcompact on Wednesday, aiming to appeal to global customers with upgraded safety, better fuel efficiency and driving performance. The latest edition of the Avante is the sixth generation of Hyundai Motor's popular subcompact which debuted in 1990. The last edition of the car rolled out five years ago.Since its first generation was launched, cumulative sales at home and abroad topped 10 million units in Octo
Sept. 9, 2015
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Hyundai Motor's Accent keeps best-selling status in Russia
Hyundai Motor Co.'s Accent subcompact maintained its status as the best-selling model in Russia last month despite tough market conditions there, industry data showed Wednesday.Hyundai Motor, South Korea's top automaker, sold 10,581 units of the Accent, also known as the Solaris in Russia, in August, maintaining its top spot for the second straight month, according to the data by the Association of European Business.The vehicle kept the position in Russia in July when its sales came to 10,251 un
Sept. 9, 2015
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LG Uplus, Qualcomm to support S. Korean startups
South Korea's No. 3 mobile carrier, LG Uplus Corp., said Wednesday it would work together with U.S. tech giant Qualcomm Inc. to support local startups, especially for those with business projects related to the Internet of Things industry.Under the move, LG Uplus and Qualcomm will chip in $100,000 each for IoT-related projects proposed by South Korean startups.IoT is a concept in which all tangible objects are connected to the Internet and can identify themselves to other devices to exchange nec
Sept. 9, 2015
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Coca-Cola launches Glaceau fruitwater
Coca-Cola Korea Company on Tuesday launched Glaceau fruitwater, adding an extra fruity aroma to the company’s signature sparkling water beverage.Coming in three flavors -- mandarin mango, white grape lemon and peach grapefruit -- the sparkling water drinks have become a trendy beverage targeting youths seeking something tasty but low in calories, the company said. The 450-milliliter bottled drink contains 15 percent fruit juice, and has been mildly carbonated to reach out to those unfamiliar wit
Sept. 8, 2015
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[SUPER RICH] Doosan head eyes retail business
Doosan Group chairman Park Yong-maan, who openly sought to reshape his company’s portfolio with more focus on heavy industries, appears to have had a rethink -- going back to retail-- as the company announced plans to bid for the lucrative urban duty-free store operations.The country’s 13th-largest business conglomerate said that its main affiliate Doosan Corp. will seek to apply for a special license to run an urban duty-free store in Seoul on the due date of Sept. 25. The bid winner will be an
Sept. 8, 2015
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Dongbu's construction unit seeks Chinese buyer
Midsized Korean builder Dongbu Corp. recently sent a letter explaining the sales process and qualities of the firm to attract potential Chinese investors, local reports said Tuesday. According to the reports, NH Investment & Securities, which manages the company’s sale, sent the letter written in English and Chinese to about 10 Chinese firms that are interested in expanding into Korea and Japan. If successful, Dongbu will mark the first large construction firm in Korea to be sold to a Chinese co
Sept. 8, 2015
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KEPCO attracts 25 companies to Naju Energy Valley
(From left) KEPCO KDN CEO Lim Soo-kyoung, KEPCO CEO Cho Hwan-eik, LSIS chairman Koo Ja-kyun, lawmaker Chang Byoung-wan, KEPCO KPS CEO Choi Koi-keun pose Monday after signing an MOU to invest in the Energy Valley in Naju, South Jeolla Province. KEPCOThe state-run Korea Electric Power Corp. and its affiliates on Tuesday signed a memorandum of understanding with 25 leading energy firms to invest in the “Energy Valley” in Naju, South Jeolla Province. Those who have signed up for investments include
Sept. 8, 2015
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[Herald Interview] Air France-KLM sees strong demand in Korean market
Air France-KLM, Europe’s second-largest network carrier, is enjoying its best summer in Korea with its drive to beef up online presence here. Celine Balmelle, Air France-KLM general manager for Korea talks to The Korea Herald in Seoul. (Chung Hee-cho/The Korea Herald)“This morning, we celebrated that we’ve reached the highest number of passengers in July and August. The Korean market is strongly growing and leisure demand to Europe keeps on increasing,” said Celine Balmelle, newly-appointed head
Sept. 8, 2015
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[SUPER RICH] Superrich who spent money for independence and the people
There is a zeitgeist in every time period. In Korea, the zeitgeist during the Japanese occupation was independence, and after independence it was to live well and reunite the two Koreas.Koreans typically hold in high regard those who have dedicated themselves to one of these causes. They realize that although such ideals are easily relatable, it is more difficult to perfectly ascribe to them.Several of the superrich have also devoted their lives to these causes, donating their riches to realize
Sept. 8, 2015
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Lotte, China's JD.com sign partnership deal
A Chinese online retailer, JD.com Inc., said Tuesday that it has signed a partnership deal with South Korea's retail group Lotte. The deal allows Lotte to sell more household, beauty, fashion and electronics goods to Chinese consumers through JD.com's online shopping site. Seeking to reach Chinese consumers, Lotte opened a store on JD.com's online shopping site in March this year. JD.com said the partnership deal with Lotte could help boost sales, citing a growing demand for Korean goods. (Yonha
Sept. 8, 2015
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Auto industry body calls for curbing wage growth
The chief of South Korea's automobile industry association called for local carmakers Tuesday to rein in salary growth, saying that the burden from labor costs has been increasing faster than other global rivals. Speaking at a seminar held by the Korea Automobile Manufacturers Association, Chairman Kim Yong-geun also demanded that labor unions cooperate to prevent the wage issue from hurting overall competitiveness.KAMA represents the interests of five major automakers operating in South Korea.
Sept. 8, 2015
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GM, Renault Samsung bolster imported car business
General Motors Korea and Renault Samsung Motors, both of which are categorized as Korean automakers, are expanding their imported car business on the back of the rising popularity of foreign car brands in all market segments. Renault Samsung’s QM3, manufactured in Spain, and the recently-introduced Chevrolet Impala, produced in the United States and imported by GM Korea, are creating new success stories in the local mass vehicle market. Renault Samsung`s QM3 (Renault Samsung) The two brands targ
Sept. 8, 2015
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[Newsmaker] Samsung’s 1st biosimilar drug approved
Samsung Group, South Korea’s leading conglomerate, has taken a significant step toward driving forward its newly-established biopharmaceuticals business, an emerging sector expected to become one of the company’s future growth engines. Samsung Bioepis, the conglomerate’s biotechnology research and development unit, said Monday that it had gained approval from the Ministry of Food and Drug Safety to begin selling Brenzys, its biosimilar copy of Amgen and Pfizer’s rheumatoid arthritis treatment E
Sept. 8, 2015
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With Tesco deal done, MBK faces real challenge at home
MBK Partners may be on cloud nine after striking a deal to buy British retail behemoth Tesco's Korean unit, but a rough road lies ahead for the Seoul-based private equity fund as it faces tough business conditions and negative public sentiment, industry watchers say. In South Korea's largest-ever buyout deal, MBK sealed a US$6.1 billion contract with Tesco on Monday to acquire Homeplus, the country's No. 2 discount chain, from the British company that wanted to dispose of its largest overseas op
Sept. 8, 2015
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One-third of Lotte units foreign-invested firms: lawmaker
One-third of retail giant Lotte Group's affiliates operating in South Korea are classified as foreign-invested firms and enjoy special benefits, a lawmaker claimed Tuesday.Citing government data, Rep. Kim Ki-jun of the main opposition New Politics Alliance for Democracy said 28 of Lotte's 81 affiliates and most of its large units are foreign-invested companies. Lotte is South Korea's fifth-largest family-run conglomerate, or chaebol, with total sales hitting 112 trillion ($93.3 billion) won in 2
Sept. 8, 2015
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Lotte becomes No. 1 fair trade rule violator
Retail giant Lotte Group has broken fair trade rules the most among the nation’s large conglomerates over the past 10 years, data showed Monday. Lotte Group chairman Shin Dong-bin (Yonhap)The Fair Trade Commission data showed that South Korea’s fifth-largest conglomerate was charged and fined a total of 147 times for breaching rules of the antitrust watchdog since 2005. The number of Lotte’s unfair practices accounts for over 22 percent of the 649 cases brought against the country’s top five la
Sept. 7, 2015