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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Eclat by Imperial eyes female drinkers
A new drink from the local unit of Paris-based Pernod Ricard targeting women is drawing attention amid the recent trend in Korea for lower-strength spirits. The fruit-flavored liquor, dubbed Eclat by Imperial, is a whiskey-based spirit. The new product, which debuted in the Korean market in late July, is marked for its pomegranate aroma and an alcohol content of 31 percent.Spirit drink Eclat by Imperial (Pernod Ricard Korea) “As seen in its name, Eclat, which means radiance in French, the produ
Aug. 30, 2015
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S-Oil supports low-income disabled students
S-Oil, South Korea’s third-largest oil refiner, has been delivering customized study aids to disabled students from low-income families since 2010 as part of its ongoing efforts to give back to the local community. This month, the firm handed over equipment worth 100 million won ($92,800) to 42 low-income disabled youths at the Gyeonggi Assistive Technology Research Assistance Center in Suwon, Gyeonggi Province. S-Oil senior vice president Lee Chang-jae (left) delivers a certificate guaranteein
Aug. 30, 2015
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Chaebol face calls to testify at Assembly
Lotte Group chairman Shin Dong-binMore big business leaders than ever are expected to appear at the annual parliamentary audit session that starts Sept. 4, with lawmakers from both ruling and opposition parties calling for chaebol reform. It has become an annual ritual to see business tycoons subpoenaed at the National Assembly, but more high-profile business leaders are facing calls to appear this year, amid negative public sentiment toward chaebol. At the top of the list is Lotte Group chairma
Aug. 30, 2015
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GS Group to hire 9,700 youths by 2017
GS Group chairman Huh Chang-soo GS Group chairman Huh Chang-soo has pledged to create 9,700 jobs for young Koreans by 2017 and implement the wage peak system across all of the group’s affiliates from next year, group officials said Sunday. “A continued influx and growth of young talent is the backbone of a vibrant local and national economy,” Huh said in a corporate meeting attended by the heads of major GS affiliates and high officials. The meeting was held for two days in Chuncheon, Gangwon Pr
Aug. 30, 2015
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Samsung Electronics' market cap slips to 13th on global IT chart
Samsung Electronics Co., the world's largest handset maker, slipped to the world's 13th most valuable IT company by market cap as the tech giant's shares suffered losses this year due to a bleak business outlook, a report showed Sunday. Samsung, South Korea's most valuable company, had remained in the top 10 IT companies since 2005, but it was left out of the league this year as investors found its shares less attractive amid the toughening competition with Apple's iPhone and cheaper Chinese h
Aug. 30, 2015
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Honda to recall over 18,000 crossovers in S. Korea
Honda Motor Co., a Japanese carmaker, will voluntarily recall more than 18,690 crossover vehicles sold in South Korea due to manufacturing defects, the transportation ministry said Sunday. Subject to the recall are 18,690 CR-V vehicles produced between May 24, 2006, and March 29, 2011, according to the ministry. In the event of a collision, the powerful force needed to allow the car's air bags to deploy also causes some metallic fragments to fly out, putting the driver at risk of injury, the
Aug. 30, 2015
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Lotte chairman buys 1.3 pct stake in confectionery unit
Lotte Group Chairman Shin Dong-bin bought a 1.3 percent stake in Lotte Confectionery Co. from a construction unit after the market closing on Friday in a bid to help resolve the group's complex cross-shareholding structure, the retail giant said. Shin bought 19,000 shares from Lotte Construction Co. to raise his stake to 6.7 percent in the confectionery company, a deal estimated at 35.8 billion won (US$30.5 million), Lotte Group said. "(Shin) purchased shares in Lotte Confectionery to resolve pa
Aug. 28, 2015
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Hyundai Motor to hire 36,000 in 3 years
Hyundai Motor Group on Thursday announced that it will hire about 36,000 young people over the next three years and support an additional 12,000 people’s start-ups. The plans come after the company proclaimed a three-year 81 trillion won ($68.9 billion) investment plan early this year along with the adoption of the wage peak system early this month to make way for youth employment. According to the plan announced Thursday, 41 companies under the group will hire a total of 35,700 people by 2018,
Aug. 28, 2015
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Lotte seeks shopping malls in India
Lotte Group chairman Shin Dong-bin (second from left) poses with Indian Prime Minister Narendra Modi (center) in New Delhi on Thursday. Lotte GroupLotte Group chairman Shin Dong-bin on Thursday requested Indian Prime Minister Narendra Modi’s support in Lotte’s culture-shopping complex development in the New Delhi, Mumbai and Chennai regions. “Thanks to the Modi government’s economic stimulus policies, India is seeing rapid economic growth every year,” chairman Shin was quoted as telling Modi in
Aug. 28, 2015
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Hana Financial sees results in creative economy boost
Hana Financial Group is stepping up its efforts to help vitalize the nation’s creative economy.Group chairman Kim Jung-tai visited the Daejeon Creative Economy Innovation Center on Thursday and expressed his continued support for the creative economy and young job seekers.This is Kim’s third visit to the Daejeon Creative Economy Innovation Center, as he aims to encourage young start-up entrepreneurs and job seekers for roles in small and mid-sized tech companies.During the visit, Kim said that t
Aug. 28, 2015
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LIG Nex1 rallies global investors for IPO
LIG Nex1, preparing to go public in September, is going on an overseas road show to bring in global investors, company officials said.According to investment bank insiders, LIG Nex1 executives, including CEO and vice chairman Lee Hyo-koo, along with officials from NH Investment and Securities, left for a tour early this week to Hong Kong and Singapore, in a move to promote marketing to attract local institutional investors for a successful initial public offering.LIG Nex1, the nation‘s leading d
Aug. 28, 2015
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Hyundai, Kia suffer setback from Chinese rivals
Hyundai Motor Co., South Korea's top automaker, and its sister firm Kia Motors Corp. lagged far behind Chinese rivals in the world's No. 1 auto market during the first seven months of the year, industry data showed Friday.Hyundai Motor sold 564,389 units in the Chinese auto market in the January-July period, down 10.9 percent on-year, and Kia Motors suffered a 6.3 percent on-year drop in auto sales to 333,165 units in China over the cited period, according to the data.In July alone, Hyundai Moto
Aug. 28, 2015
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Cafe24, Rakuten to work together to help Korean vendors enter Japan
Takahashi Masato (left), managing executive officer at Rakuten Ichiba, and SimpleX CEO Lee Jae-suk speak at a press conference on Wednesday in Yeouido, Seoul. Cafe24Online merchants in Korea will be allowed to sell their products on Japan’s Rakuten Inchiba without registering as local corporations. They will also be given access to the use of local delivery system and payment tools.The arrangements came in a deal between Rakuten Ichiba, the “B2B2C” arm of the largest online market in Japan, and
Aug. 27, 2015
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Young talents compete for Hanwha Science Challenge
By Park Han-na Some 30 teams of Korean students vied for the top spot in a science competition hosted by Hanwha Group on Thursday. The “Hanwha Science Challenge” contest, which aims to help youngsters develop a wider understanding of energy, bio, climate change and water, was held at the group’s HRD Center in Gapyeong, Gyeonggi Province. Under the title of “Saving the Earth,” 30 shortlisted teams presented and exhibited their work. They have been conducting studies on the topic for the past six
Aug. 27, 2015
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Incheon Airport exports management knowhow
The Incheon International Airport Corp. is expanding its management consulting business for airports overseas as a new income source. The operator of the nation’s main international gateway said Wednesday it won the fourth consulting project in Indonesia for 3.09 billion won ($2.61 million) from Indonesia’s second airport operator PT Angkasa Pura II.“Under the deal, IIAC will develop the commercial area at the third terminal at Jakarta Soekarno-Hatta International Airport by Aug. 2017,” the stat
Aug. 27, 2015
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[Herald Interview] KFS praises civic, business participation
The urban forest project carried out by the Korea Forest Service has sought participation from citizens and businesses to realize the plan, according to a senior government official. According to data from the KFS, the average urban forest area per person in Korea is 8.32 square meters, which falls below the World Health Organization standards of at least 9 square meters per inhabitant.Seoul only has 4.35 square meters of green space per person and Gyeonggi Province has 5.29 square meters per pe
Aug. 27, 2015
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KOMIPO seeks to turn Boryeong, Seocheon into global energy hub
Korea Midland Power Co., one of six power generation affiliates of the state-run Korea Electric Power Corp., is looking to transform the cities of Boryeong and Seocheon into the global energy hub of South Korea. KOMIPO took the first step toward such a goal in May by transferring its headquarters from Seoul to Boryeong in South Chungcheong Province, where the company operates a major coal-based power generation plant with an energy output of 8.76 million kilowatts. KOMIPO signs a memorandum of u
Aug. 27, 2015
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German business leaders discuss Korea’s economic outlook
More than 100 German business leaders and officials came together in Seoul on Thursday to discuss and share insights on South Korea’s economic trends and outlook for this year. At the Half-Year Economy Outlook 2015 conference hosted by the Korean-German Chamber of Commerce and Industry, German business executives highlighted key downward trends in Korea’s economy as well as industries forecast to grow in the near future. The German officials cited the slowdown in exports as the biggest future
Aug. 27, 2015
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Trade commission recommends anti-dumping duties on Indonesian ethyl acetate
South Korea's trade commission said Thursday that it has recommended imposing punitive duties on ethyl acetate imports from Indonesia while also advising the finance ministry to extend the country's existing anti-dumping duties on imports from three other countries, including China.Following its five-month investigation, the commission decided that price-cutting by Indonesian manufacturers of ethyl acetate has caused damage to the local industry.The commission's recommendation is to impose punit
Aug. 27, 2015
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ODIGAMOM, online retailer behind luxury baby bottle MAMACHI
MAMACHI, known as the “Chanel” or “Gangnam-style” of baby bottles, is a must-have item among expecting mothers.The bottle first found fame in their Los Angeles store before making its way to Korea. “The bottles first became a hit overseas, then we started selling them in duty-free shops, main department stores and within very short time, mommies have become very interested in our baby bottles,” said Kim Do-hwan, senior manager of ODIGAMOM (www.odigamom.com), the official website of MAMACHI bottl
Aug. 27, 2015