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
Yoon set for talks with Marcos in Philippines
-
4
Can Jennie break the K-pop solo artist slump?
-
5
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
6
First lady’s Dior bag scandal to be at center of Assembly audit
-
7
Yoon honors veterans of Korean War in trip to Philippines
-
8
Seoulites celebrate coexistence at Wellness Seoul 2024
-
9
[KH Explains] Can G-Star level up?
-
10
Ex-president's daughter investigated for drunk driving accident
-
Samsung's compensation for victims of work-related diseases exceeds W14b
Samsung Electronics Co. has so far compensated hundreds of victims of work-related diseases more than 14 billion won ($11.6 million), a special committee dedicated to support such workers said Friday. Samsung's independent compensation committee said it has completed application reviews for 458 cases, or 92 percent of the total compensation cases submitted through last month. Of them, 400 cases were eligible for compensation, and Samsung paid 14.2 billion won to the victims, it said. In 2018
June 12, 2020
-
Coupang to pay W1m to each of its 2,600 quarantined temps
Coupang is set to pay 1 million won ($828) to each of its 2,600 temporary workers who have had to self-quarantine because of the COVID-19 pandemic. On Thursday, the country’s leading e-commerce operator issued an in-house notice from Representative Director Sam Ko, saying, “We thought we had weathered the crisis. But COVID-19 has started spreading again, mainly in the metropolitan areas.” He added, “This is not an easy battle.” Coupang has made various so
June 12, 2020
-
Will KAMCO buy cash-strapped Korean Air’s land?
With no companies bidding for the sale of Korean Air’s land in Songhyeon-dong, Seoul, the government unveiled plans to launch a corporate asset purchase program worth 2 trillion won ($1.6 billion), raising expectations that the carrier may have a new option. According to industry sources, there were no participants in the preliminary bidding for Korean Air’s land, which closed Wednesday. That outcome was deemed to have been influenced by the Seoul Metropolitan Government’s p
June 12, 2020
-
[Monitor] Disaster relief funds mostly used for dining out, shopping
The emergency disaster relief funds for citizens provided by the government to combat the impact of COVID-19 pandemic were mainly used for dining out and shopping while sales for opticians, hospitals and pharmacies grew the most last month, data showed. The Ministry of the Interior and Safety data, which analyzed the use of credit and debit cards for availing the emergency funds from May 11-31 by eight companies, including KB Kookmin, NongHyup, Lotte, BC, Samsung, Shinhan, Hana and Hyundai
June 12, 2020
-
Celltrion acquires a unit in Takeda's APAC business
Celltrion announced on Thursday that it acquired the Primary Care unit in Japanese multinational pharmaceutical firm Takeda's Asia Pacific business. The deal, worth 332.4 billion won ($278 million), will give Celltrion the rights to 18 of Takeda’s patented drugs in the APAC region that covers nine countries including Korea. Takeda has 12 prescription drugs and six over-the-counter drug brands distributed in the Asia Pacific region. Celltrion said that this global merger-acquisition deal
June 11, 2020
-
SK E&C slapped with $68.4m fine in US
SK Engineering and Construction was handed a $68.4 million penalty by a US court Thursday on charges of bribing an official to win an Army contract. The Department of Justice said in a press release that the Court for the Western District of Tennessee has ordered SK E&C to pay $60.6 million in criminal fines along with $2.6 million in restitution to the Army and serve three years of probation. The fine is the largest ever imposed against a criminal defendant by the federal district court.
June 11, 2020
-
Diageo Korea releases Johnnie Walker 200th Anniversary Edition
Celebrating the 200th anniversary of its flagship scotch whisky brand Johnnie Walker, Diageo Korea said Thursday it will roll out a limited edition in retail shops across the country. Founded by John Walker in Scotland in 1820, Johnnie Walker is the world’s No. 1 scotch whisky brand selling over 100 million bottles annually in about 200 countries across the globe. Marking the anniversary, the South Korean branch of British liquor firm said it will present a limited edition of Johnnie
June 11, 2020
-
Samsung's foundry biz market share to rise in Q2: report
Samsung Electronics Co.'s market share in the global foundry industry is expected to increase in the current quarter from the previous three months, a report showed Thursday, with growth in the 5G smartphone market. Samsung's share of the foundry business was estimated at 18.8 percent in the April-June period, 2.9 percentage points higher than three months earlier, according to a report from industry tracker TrendForce. The South Korean tech giant's revenue from the foundry business was expec
June 11, 2020
-
Hyundai Oilbank develops oil leak detector
Hyundai Oilbank said Thursday it has developed a new system that can detect oil leaks from underground pipes at gas stations to help prevent environment pollution. According to the South Korean refiner, Hyundai Oil Leakage Monitoring Expert System, or Holmes, can detect and locate oil leaks from old pipes buried underneath gas stations, preventing possible soil contamination that can cost millions of dollars for restoration. “Leaks from oil tanks can be easily checked by gauges, but l
June 11, 2020
-
Korean foodmakers roll out offbeat products via co-branding
It's not just funny or tongue-in-cheek wordplay. Rather, it is a highly calibrated marketing strategy ironed out by South Korean foodmakers here to mainly target the important clan of young customers. Brand collaboration is not something new in the segment, but the food industry is currently expanding the scope of partnership with other sectors -- sports, fashion and cosmetics, you name it. CJ Cheiljedang Corp., South Korea's largest food company, has teamed up with the Hanwha Eagles, a profe
June 11, 2020
-
[Herald Interview] ‘Time is ripe for Korean pharmas to go global’
“We must strike the iron when it’s hot,” said Korea Pharmaceutical and Bio-Pharma Manufacturers Association Chairman Won Hee-mok, referring to the overseas expansion of Korean pharmaceutical firms. “In more ways now than ever, people are sharply aware of the importance of health care due to the coronavirus pandemic,” Won said in an interview with The Korea Herald. This year will be remembered as a fork in road where the blueprints for future growth took a turn to
June 11, 2020
-
Celltrion to test Remsima on COVID-19 patients in UK from June
Celltrion Healthcare said Thursday it will begin clinical trials of its anti-inflammatory drug Remsima on COVID-19 patients in the UK this month. “As Remsima is an approved drug, the clinical trials will directly begin on infected COVID-19 patients,” a Celltrion Healthcare official told The Korea Herald. Four UK health care institutions -- University Hospital of Birmingham, NIHR Birmingham Biomedical Research Centre, Oxford NIHR BRC and UCLH/UCL Biomedical Research Centre in Lond
June 11, 2020
-
50% more gamers globally in 2020 amid pandemic: report
The number of people playing PC and console-based games jumped by nearly 50 percent globally this year as the new coronavirus pandemic has confined more people to their homes, an industry report showed Thursday. Daily active users of PC and console games spiked 46 percent on-year during the January-May period, according to the report by game software developer Unity Technologies. The correspondent number for mobile gaming was a 17 percent increase. Before the COVID-19 outbreak hit, there was
June 11, 2020
-
Doosan to raise W1tr by selling shares, assets
Debt-laden Doosan Group will raise 1 trillion won ($800 million) this year by selling new shares and its assets to ease its cash shortage crisis, the group's chairman said Thursday. Park Jeong Won, chairman of the group, said the group will push for sales of its assets in line with a plan to reorganize its business line and Doosan Heavy's financial structure. In return for 3.6 trillion won in financial support from state-run banks, Doosan Heavy, the country's leading power equipment maker,
June 11, 2020
-
More cable TV operators up for sale, telcos eye bigger share of pay TV market
South Korea's three major telecommunications firms are to enter heated competition to expand their presence in the local pay TV market, industry insiders said Thursday, as more cable TV operators are up for sale. According to sources, the owner of Central Multi Broadcasting (CMB) Co., the nation's fourth largest cable TV firm, recently decided to sell the company. The country's No. 3 cable TV operator, D'Live Co., and No. 5 player, Hyundai HCN Co., have also been put up for sale. CMB
June 11, 2020
-
[Monitor] Korean firms suffer 10% drop in overseas revenue
The combined revenue from overseas markets of South Korea’s top 100 companies dropped by 10.4 percent due to the coronavirus pandemic, data from the Federation of Korean Industries showed. The data was based on each firm’s report of their consolidated revenue as of the first quarter this year. (khnews@heraldcorp.com)
June 11, 2020
-
LG Uplus to supply 5G VR content to Taiwan's top telco
LG Uplus Corp., South Korea's No. 3 mobile carrier, said Thursday it will supply 5G virtual reality (VR) content to Taiwan's largest telecommunication firm. LG Uplus' 5G VR content will be also available on Chunghwa Telecom Co. when Taiwan commercializes a 5G network next month, according to the company. LG Uplus will first provide 180 K-pop VR content products and introduce its multi-view technology. This is the fourth time that LG Uplus has exported its 5G content to a foreign company. LG U
June 11, 2020
-
Hyundai Heavy to expand presence in warship market
Hyundai Heavy Industries, the world's largest shipbuilder, will enhance its presence in the warship market as part of efforts to boost sales, its parent, Korea Shipbuilding & Offshore Engineering, said Wednesday. The company said a 26,000-ton warship, named Aotearoa, built by the shipbuilder left Ulsan, southeast 414 kilometers of Seoul, late Tuesday for New Zealand. Hyundai Heavy clinched an order for the warship in July 2016 from the Royal New Zealand Navy. "Hyundai H
June 10, 2020
-
KITA calls on US to exclude Korean transformers from probe
The Korea International Trade Association said Wednesday it has submitted an official opinion to the US Department of Commerce to exclude Korean electric transformers from its investigation on imported transformers and parts. According to the business association, the US launched an investigation into imported transformers and parts, viewing them as national security threats under Article 232 of the Trade Expansion Act. Imports make up around 85 percent of transformer and relevant parts supp
June 10, 2020
-
KAI to finalize assembly of next-gen KF-X fighter jet in H2
Korea Aerospace Industries said Wednesday it will finalize the assembly of its next-generation KF-X fighter jet in the second half of this year. South Korea’s sole aircraft manufacturer is currently assembling each of the top, middle and bottom parts of the fuselage of its fifth-generation fighter and the final assembly is scheduled for the second half of the year. "To introduce a prototype next year, KAI is looking forward to a final assembly of the jet in the period,” a
June 10, 2020