Most Popular
-
1
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
2
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
3
Can Jennie break the K-pop solo artist slump?
-
4
Yoon set for talks with Marcos in Philippines
-
5
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
6
Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
-
7
Ex-president's daughter investigated for drunk driving accident
-
8
'Culinary Class Wars' producers deny trying to spice up results
-
9
Seoulites celebrate coexistence at Wellness Seoul 2024
-
10
First lady’s Dior bag scandal to be at center of Assembly audit
-
Mobile carriers roll out data-oriented rate plan
South Korean mobile carriers are adopting a new rate plan that charges users based only on their data downloads while providing calls and text messages for free, industry sources said Monday, a shift in strategy as mobile consumer trends call for more data-focused services. KT Corp., the second-largest player, has taken the first step to introduce such a rate plan to consumers, which went on sale starting last week. Under KT's new data-based rate plan, a mobile phone user can choose his or her p
May 11, 2015
-
Rise in one-person households boosts pet market
Pet businesses, including pet clinics, food and beauty shops, have continued double-digit growth for the past five years in Korea, and is projected to reach 1.8 trillion won ($1.65 billion) this year, according to industry sources. The market for pets, which hit 1 trillion won in 2000 for the first time is one of few industries achieving double-digit growth regardless of the economic conditions. “Considering the speed of growth, the pet businesses are forecast to triple to 6 trillion won by 2020
May 10, 2015
-
POSCO revs up asset sales, restructuring
POSCO, the nation’s top steelmaker, is accelerating the disposal of nonessential real estate assets as it seeks to tidy up its balance sheet and restructure for a slimmer organization.The steelmaker on Sunday announced it sold a Lotte Mart building and its 5,920 square meter plot of land in Pohang, North Gyeongsang Province, to Lotte Shopping, the operator of Lotte Duty Free. The portfolio, worth about 20 billion won, includes idle residential sites nearby and a plot of land where an apartment w
May 10, 2015
-
Samsung-led UHD TV tech picked as candidate for U.S. standard
South Korean tech giant Samsung Electronics Co. said Sunday that its proposal for an ultra-high definition (UHD) television broadcasting technology has been chosen as the candidate for the next standard for the U.S. TV industry. The proposal, submitted jointly with U.S.-based broadcast infrastructure provider ONE Media, has been adopted by the Advanced Television Systems Committee (ATSC) 3.0 Technology Standards Group 3 as a Candidate Standard, the tech firm said in a press release.The proposal
May 10, 2015
-
Hyundai, Kia's mid-size car sales in China up in Q1
South Korea's top carmaker, Hyundai Motor Co., and its smaller affiliate, Kia Motors Corp., saw sales of their mid-size cars in China expand in the first quarter of this year on efforts to sell more pricey cars to improve profitability, data showed Sunday. Of the 440,514 vehicles the two carmakers sold in the January-March period in the Chinese market, the share of cars in the mid-size segment came to 81,311 units, or 18.5 percent, according to industry data. Compared to a year earlier, the port
May 10, 2015
-
Bulgaria seeks investment from S. Korean high-tech firms
Bulgarian President Rosen Plevneliev called on South Korean high-tech firms Sunday to invest in his country, the "front-door" to the European Union."To step in Bulgaria for Korean business means to step in the region, placed between Europe and Asia; we are the front door to a 500-million people single European market," Plevneliev said in a written interview with Yonhap News Agency.He also boasted Bulgaria's low tax levels, saying they are the sixth lowest in the world for small- and medium-sized
May 10, 2015
-
S. Korea's tobacco tax revenue gains on price hike
South Korea's tax revenue from tobacco sales rose considerably in the first four months of this year from a year ago thanks to a recovery in shipments from a tumble at the start of the year following a price hike, officials said Sunday. Starting Jan. 1, the government raised cigarette prices to 4,500 won (US$4.13) per pack from 2,500 won, with more than 60 percent of the price stemming from taxes. According to the officials, the tax revenue from cigarette sales was about 600 billion won ($55
May 10, 2015
-
[Weekender] More than just shopping
On a Saturday afternoon, the Coex mall in southern Seoul teemed with people. They were of different ages, different styles and sexes. But had one thing in common ― they sought a good time at the mall. They would come hand-in-hand, window shop, point at things they liked and go in, or just pass by. Some would queue in front of popular restaurants, or enjoy a cup of coffee. At the center of the mall is a plaza where rather-unknown buskers would play a tune or two, making people stop for a while an
May 8, 2015
-
[Weekender] World’s most successful malls
What do Les Quatre Temps and Tokyo Midtown have in common? First, they are shopping malls, with the former located in the La Defense district just west of Paris, and the latter in Japan’s capital. Second, they are successful malls, even in the era of e-commerce. They have converged retail, entertainment, residences and hospitality inside one complex, allowing locals and tourists to quench their thirst for entertainment and relaxation. Jose B. Alvarez, former president and CEO of supermarket chai
May 8, 2015
-
Coex aims to lead MICE industry
The CEO of Coex Mall in southern Seoul has announced plans to make Coex and the adjacent Korea World Trade Center a hub for meetings, incentives, conferences and exhibitions, otherwise known as the MICE industry. This will show the evolution of shopping malls from a collection of shops to an industry hub that goes beyond retail, said Byun Bo-kyung, president and CEO of Coex. “Korea needs to develop a MICE cluster. While the government has chosen MICE as (one of) the new growth engines, the truth
May 8, 2015
-
[Weekender] ‘All-around mall is future of shopping’
Herald Interview - While shopping malls have been conventionally tagged as an aggregator of shops, the future of shopping malls lies in being multipurpose public places, claimed Paco Underhill, a noted shopping-related behavior-researcher. Shopping malls will not only cover shopping and dining but also residences and workplaces, and whether Koreans will be able to embrace it all will be the key to the shopping business’ future, Underhill said in a recent telephone interview with The Korea Herald
May 8, 2015
-
Solar tech sales to soar on global demand
Solar technology firms are expected to record improved sales this year, as global sales of solar modules are estimated to increase about 20 percent, according to recent market data.With improved market demands for solar panels, revenue for the solar photovoltaic module industry is forecast to hover at $38 billion in 2015, a 20 percent increase from a year earlier, according to market research firm HIS.The industry’s collective profits are estimated to more than double to $5 billion this year, in
May 8, 2015
-
Kumho Industrial bidding renews
Creditors of Kumho Industrial are planning to sell its controlling stake in the company to Kumho Asiana Group chairman Park Sam-koo after bidding for the former de facto holding firm of the group failed in late April, sources said Friday. “We are leaning toward a private contract with Park as many said that it would take a lot of time and money for rebidding,” said a creditor bank official.The decision follows a meeting Thursday with Kumho Industrial’s main creditor Korea Development Bank and ot
May 8, 2015
-
E-Land eyes U.S. brand Supra
E-Land Group is planning to acquire U.S. footwear brand Supra to beef up its accessories division, sources said. The business group is set to buy One Distribution, which runs Supra and clothing brand KR3W, for less than 100 billion won ($91.4 million). Supra is known for skateboarding sneakers and snapback hats. “Supra is making double-digit growth since the launch in 2006, with flagship stores in New York, Paris, Tokyo and others. This will be a good opportunity for E-Land to land on the U.S.,
May 8, 2015
-
S. Korean firms to benefit rising demand for solar module
South Korean solar cell makers are positioned to enjoy a rise in global sales of solar modules, which are likely to jump 20 percent this year, industry data showed on Friday.Global sales of photovoltaic solar modules are estimated at $38 billion this year, sharply up from the $31 billion tallied in 2014, according to the data compiled by industry tracker IHS Inc. And the gross margin was also estimated to shoot up by more than two-fold to $5 billion over the cited period, the data showed.Shipmen
May 8, 2015
-
City lifts ban on controversial Lotte skyscraper
The Seoul municipal government on Thursday decided to lift its partial ban on the Lotte World Tower, nearly five months after it blocked usage of the disputed skyscraper and halted ongoing construction work amid safety concerns.“The city has made its final decision to lift the usage ban on Lotte World Tower‘s aquarium and movie theater as well as the construction ban on its concert hall upon confirming their structural safety,” a city official said.The official stressed that Lotte should continu
May 7, 2015
-
Korean Air upgrades first class with new seats
South Korea’s largest carrier Korean Air introduced new first, prestige class seats and an upgraded entertainment system on its Boeing 777-300ER on Thursday, offering passengers more spacious seats and privacy. “Korean Air will provide a higher level of service, with the new seats offering customers the ultimate in comfort and space,” a company official said. For the Kosmo Suites ― first-class seats ― the airline has installed sliding doors in a bid to strengthen passengers’ privacy and increase
May 7, 2015
-
‘GS E&C considers selling hotel unit to TV shopping arm’
GS E&C, the largest shareholder of Parnas Hotel, is reportedly considering selling its shares to GS Homeshopping, instead of the current preferred bidder GS Retail. The move comes as GS Retail has allegedly been reluctant to seal the 800 billion won ($737 million) deal for fear of being accused of breach of conduct by its own shareholders, a local business newspaper reported. According to the report and market analysts, GS Homeshopping, the TV shopping unit led by GS chairman Huh Chang-soo’s you
May 7, 2015
-
Self-driving cars expected to hit local market by 2020
Self-driving cars are expected to be commercially available in South Korea by 2020, government officials said WednesdayThe Ministry of Land, Infrastructure and Transport unveiled the plan during a ministerial meeting on regulatory reform. Under the plan, the government will support commercialization of level 3 vehicle automation technology that will partially enable the vehicles to complete journeys without human intervention.“The ministry expects that the pan-governmental support will advance
May 6, 2015
-
[Photo News] Cooperation in ski
May 6, 2015