Most Popular
-
1
Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
-
2
'Culinary Class Wars' producers deny trying to spice up results
-
3
Ex-president's daughter investigated for drunk driving accident
-
4
Seoulites celebrate coexistence at Wellness Seoul 2024
-
5
Netflix, streaming platforms come under fire for loose ratings
-
6
20 minors registered as CEOs making over 100 million won
-
7
Yoon honors veterans of Korean War in trip to Philippines
-
8
K-pop CEOs sidestep key issues at National Assembly audit
-
9
Man killed by fellow hunter who mistook him for wild boar
-
10
LG Energy Solution pledges to double sales by 2028
-
[Herald Interview] AERIX eyes China air quality market
AERIX, a leading South Korean solution provider for air pollution control and protection, is stepping up its efforts to enter China as the country is poised to raise the bar for air quality improvement from 2016.“The company has set its sights on the growing business opportunities in Chinese power generation and manufacturing sectors,’’ AERIX CEO Kim Kun-ho said in a recent interview with The Korea Herald.More specifically, the company will target China’s coal-powered plants and other industrial
Feb. 12, 2015
-
Korean Air shocked by ruling on heiress
The court’s ruling on the “nut rage” case sent shockwaves through Korean Air, which had reportedly hoped for a suspended jail term for its heiress and former vice president Cho Hyun-ah.The nation’s largest full-service carrier avoided officially responding to the court’s sentencing of Cho to one year in prison. “We have nothing to say on the verdict,” a company official was quoted as saying.Another official said the company would not issue a statement on the ruling.According to Yonhap, a somber
Feb. 12, 2015
-
Lotte, Shilla face new fight in duty-free business
Shinsegae, Korea’s second-largest retailer, and cosmetics-maker Charmzone on Wednesday were selected to run the much-coveted Incheon International Airport duty-free zone starting from September until 2020. The newcomers will be joined by the existing powerhouses Lotte and Shilla at the airport that generates the world’s highest duty-free sales with around 2.3 trillion won ($2.1 billion) in 2014. According to the airport authorities, Shinsegae will be running the fashion and accessories section w
Feb. 12, 2015
-
K-water offers solutions to emerging markets
State-run Korea Water Resources Corp., or K-water, will increase sharing of its water resource management solutions with developing countries, together with the Korea International Cooperation Agency. K-water CEO Choi Gye-woon signed an agreement in Seoul on Thursday with KOICA chief Kim Young-mok to cooperate on projects to help emerging markets solve water-related issues, the company said in a press release. Under the agreement, K-water will carry out water projects in emerging markets, while
Feb. 12, 2015
-
Big firms to invest W34tr
Major South Korean conglomerates, including Samsung Electronics and Hyundai Motor, plan to invest a total of 34.4 trillion won ($31.5 billion) in their facilities this year, government officials said Wednesday.In a meeting with top executives of 16 key conglomerates, Industry Minister Yoon Sang-jick said the government would provide full support for their investment and help push M&A deals.The meeting was attended by representatives from Samsung Electronics, Samsung Display, Hyundai Motor, Hyund
Feb. 11, 2015
-
Cheil Worldwide ventures into animated character business
Cheil Worldwide, the country’s largest advertising agency, announced Wednesday its advancement into animation character merchandise business.Teaming up with the market leader Vooz Club, the Samsung Group affiliate will target the 180 trillion won ($167 billion) global market, Cheil said at its investors meeting. The first character to be introduced is Adoonga, a gorilla who leaves the African jungle to become a hip-hop artist in Seoul. “Hip-hop,” “bad boy” and “sexy” will be Adoonga’s key concep
Feb. 11, 2015
-
KEPCO's 2014 net jumps on high sales, lower costs
Korea Electric Power Corp., South Korea's state-run power company, said Wednesday its net profit soared 1,505.8 percent in 2014 from a year earlier due to higher electricity rates and cheaper fuel costs. Net income reached 2.78 trillion won ($2.55 billion) last year, compared with 174 billion won a year ago, the company said in a regulatory filing. Sales increased 6.4 percent to 57.47 trillion won during that period, and operating income jumped 281 percent to 5.78 trillion won. "Increased
Feb. 11, 2015
-
SK Innovation partners with CNOOC for oil exploration in South China Sea
South Korea's top oil refiner SK Innovation Co. said Wednesday it will partner with the state-run China National Offshore Oil Corporation to conduct oil and gas exploration in two blocks in the South China Sea, tapping the region for the first time. The blocks owned by China's largest producer of offshore crude oil and natural gas are located near the Pearl River Mouth Basin, covering a total of 7,686 square kilometers. The South Korean refiner and CNOOC will respectively foot 80 percent and 2
Feb. 11, 2015
-
Asiana Airlines swings to net profit in 2014
Asiana Airlines Inc., South Korea's second-largest flag carrier, said Wednesday it swung to a net profit in 2014 as the weak yen and falling oil prices bolstered demand for its flights. Net profit came to 62.7 billion won ($57.2 million) on a consolidated basis last year, a turnaround from a loss of 114.7 billion won a year earlier, the company said in a regulatory filing. The airline reported 98.1 billion won in operating income, a turnaround from a loss of 11.2 billion won a year earlier, wh
Feb. 11, 2015
-
Gov't seeks to popularize golf by opening more public courses,lower green fees
The government is seeking to popularize golf by opening more public courses and lowering green fees after President Park Geun-hye highlighted the need to get more people to play the sport, officials said Wednesday.Insiders said related ministries are in the process of coming up with ways to make golf more accessible to ordinary people.Possible measures include turning country clubs under court receivership or those that have gone bankrupt into public courses, officials said. Of the 500 courses i
Feb. 11, 2015
-
IKEA's disputed "Sea of Japan" map still on sale
IKEA has yet to stop global sales of a controversial map that uses the Japan-insisted place name to denote the body of water between South Korea and Japan, its web site showed Wednesday, after previous furor pushed the Swedish furniture giant to announce plans to drop the product.Under public pressure, the furniture brand in December said it would remove the disputed item in 2015 in efforts to allay anger over the historically and emotionally sensitive issue before the opening of its first showr
Feb. 11, 2015
-
U.S.-based patent trolls file 128 claims on S. Korean firms in 2014
U.S.-based non-practicing entities filed 128 lawsuits against South Korea-based firms in 2014, an intellectual property union said Wednesday, adding big-name tech players, such as Samsung Electronics Co. and LG Electronics Inc., were major targets. Samsung faced 49 patent claims from U.S. NPEs last year, while LG was also slapped with 40 suits, the data compiled by anti-NPE cooperative UnifiedPatents showed. NPEs, also known as "patent trolls," refer to entities that generate profits from licen
Feb. 11, 2015
-
Seoul to seek improved ties with Cuba: FM
South Korea plans to make efforts to normalize its diplomatic relations with Cuba in a bid to expand the scope of its diplomacy with countries in Central and South America, the foreign ministry said Tuesday. Foreign Minister Yun Byung-se told lawmakers that Seoul will seek to improve its relations with Cuba this year as it moves to promote ties with countries in Central and South America in a mutually beneficial manner. South Korea has no diplomatic relations with Cuba, while North Korea ha
Feb. 10, 2015
-
Projects between Russia, two Koreas to help inter-Korean ties
Russia believes enhanced cooperation between Moscow and the two Koreas will help create a "favorable" environment for improvement in inter-Korean ties, Moscow's new envoy to South Korea said Tuesday.Alexander Timonin, Russia's former ambassador to North Korea, arrived in Seoul late last month as Moscow's new top envoy to South Korea, replacing Konstantin Vnukov. Timonin is the first former Russian envoy to Pyongyang to be transferred to the South to head Russia's embassy in Seoul.Timonin said Ru
Feb. 10, 2015
-
Samsung chairman's eldest daughter to undergo divorce trial
Hotel Shilla CEO Lee Boo-jin, the eldest daughter in the Samsung Group owner family, and her husband will go through a divorce trial as they failed to reach an agreement in the court's mediation process, court officials and their lawyers said Tuesday. Lee and her 46-year-old husband, Im Woo-jae, who is the vice-president of Samsung Electro-Mechanics Co., will undergo the trial at the Seongnam branch of Suwon District Court to determinewho will have the parental and nurturing rights over their
Feb. 10, 2015
-
[SUPERRICH] Competitive lives of superrich supermoms
In the past, women in chaebol families only had titles like “madam” or “director” as they mostly stayed out of the limelight. However, as second- and third-generation chaebol daughters have taken on company management, those titles have been replaced with another: “working moms.” The number of working chaebol mothers in Korea is increasing, but they are also noteworthy in that they continue their careers after having children, and in extreme cases, very shortly after childbirth. Hotel Shilla pre
Feb. 10, 2015
-
[SUPERRICH] Is LG opening up to female leadership?
On Feb. 1, LG Group’s catering unit Ourhome appointed Koo Ji-eun as its vice president. Ji-eun is the youngest daughter of Koo Cha-hak, chairman of Ourhome and son of the late LG Group founder Koo In-hoe. She joined the company in 2004 and took 11 years to climb the management ladder to the top level. But her appointment means more than the ascent of another chaebol scion. She is the first female from the LG founding family to emerge in the top management. The Koo family has been rather uninvolv
Feb. 10, 2015
-
Reelected FKI chief Huh opposes corporate tax hike
Reelected chairman Huh Chang-soo of the Federation of Korean Industries, the nation’s top business lobby group, expressed opposition to raising corporate tax. Huh, chairman of GS Group, said in his acceptance speech Tuesday that doing so would go against the global trend of low corporate taxes.His comments came at a time when political circles are debating whether to increase corporate tax to fund the government’s welfare programs.Huh is the fourth FKI chairman to serve three consecutive terms.
Feb. 10, 2015
-
Housekeepers of LG chairman sue three protesters
A group of housekeepers and chauffeurs working for LG Group chairman Koo Bon-moo and his family have sued one union leader and two activists protesting in front of the tycoon’s house in Hannam-dong, central Seoul. According to the Seoul Southern District Court, six people working at Koo’s residence have recently filed an injunction against the labor union leader of LG Uplus’ subcontractor and two Hope Union officials for interfering in their duties.“Koo’s residence is a workplace for the six ― h
Feb. 10, 2015
-
OCI’s operating profit back in black in 2014
Despite the worsening business environment in the chemical industry, hit by falling oil prices, OCI, a leading South Korean chemical and solar energy company, made a turnaround in profitability last year, with operating profit of 44.6 billion won ($40 million). The consolidated sales of the polysilicon-maker rose 6.2 percent to 3.14 trillion won last year from a year ago, the company said. “Improved performance in the basic chemical business unit (whose main business is polysilicon production an
Feb. 10, 2015