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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Yoon set for talks with Marcos in Philippines
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Can Jennie break the K-pop solo artist slump?
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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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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Yoon honors veterans of Korean War in trip to Philippines
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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Firefighters’ 3,000 won meals spark nutrition concerns
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Samsung retains top spot in Q4 domestic smartphone market: data
Samsung Electronics Co. retained the top spot in the domestic smartphone market in the fourth quarter of last year, but its market share fell sharply as its archrival Apple Inc. doubled its presence in South Korea, data showed Tuesday. Samsung had a 57 percent market share on its home turf in the last three months of 2019, down 14 percentage points from three months earlier, according to market researcher Counterpoint Research. Apple was the No. 2 player with a 28 percent share in the fourth
Feb. 25, 2020
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LG Electronics unveils new budget smartphone
LG Electronics Inc. on Tuesday unveiled a new budget smartphone in South Korea, hoping that the latest handset can help its struggling mobile business. The LG Q51 will come with a price tag of 319,000 won ($260) and a 6.5-inch screen, according to LG. The mobile device will go on sale in South Korea on Wednesday. The LG Q51 sports a 13-megapixel (MP) main camera, along with a 5-MP ultra-wide lens and a 2-MP depth sensor, on the back. It also has a 13-MP selfie camera on the front. The pro
Feb. 25, 2020
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ECCK donates W10m to Daegu citizens to help fight COVID-19
The European Chamber of Commerce in Korea said Monday it has made an emergency donation of 10 million won ($8,210) to Daegu to help combat the spread of COVID-19. The donation was delivered to the Daegu Branch of Korean Red Cross. It will be used to help obtain masks for the most vulnerable people in the Daegu region. “As a responsible member of Korean society, the ECCK has decided to provide an emergency donation of 10 million won to Daegu city region in order to support to quickly ov
Feb. 24, 2020
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With delivery boom, services on alert over COVID-19 spread
With more people choosing to stay at home amid the rising fear of the fast-spreading COVID-19, delivery apps are seeing a surge in the number of daily orders. But at the same time, many delivery persons are increasingly worried, as food deliveries, in particular, often require direct contact with customers. “It will be a road to disaster if delivery persons get infected with the coronavirus,” an anonymous delivery person said in the open chatroom of a labor union on mobile messeng
Feb. 24, 2020
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Posco creates social project fund with US’ Xcoal
South Korea’s leading steelmaker, Posco, said Monday that it had established a matching fund called “Emerald” with Xcoal Energy and Resources, a US-based coal producer, as part of Posco’s GEM matching fund initiative. The two companies signed the agreement Monday, with each promising to pay $50,000 a year into the one-on-one matching grant system. The money will be used for social causes in the two countries on an alternating basis. Posco started its GEM matching fund
Feb. 24, 2020
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[Monitor] High GVC participation implies Korea’s vulnerability to external factors
According to a recent report by the Korea International Trade Association, South Korea’s participation in global value chain trade reached 55 percent as of 2017, placing it at No. 6 out of 18 major countries within the Organization for Economic Cooperation and Development. GVC refers to international production where the different output stages take place across various countries. With the rise of transnational corporations, firms from different countries tend to divide their production
Feb. 24, 2020
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South Korea’s key industries hit hard by COVID-19
South Korea’s major industries -- including electronics, automobiles, retail and oil refining -- are on high alert due to a surge in COVID-19 cases here, as well as the market slowdown in China, the nation’s biggest export destination. As of Monday, the number of confirmed COVID-19 patients stood at 833, up 161 from the previous day, and the death toll had risen to eight. The nation’s largest tech firm, Samsung Electronics, temporarily shut down its operations at its Gumi p
Feb. 24, 2020
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[Herald Interview] Philip Morris Korea reworks HR management for all stages of employment
A corporate culture centered on employees is often misunderstood here. It is mistakenly considered the opposite of a profit-centered culture and is used to describe companies providing generous welfare and compensation to employees. However, PMK goes beyond that, said Upadhyay in an interview with The Korea Herald. The company ensures staff go through a better employee experience throughout the employment cycle, starting from the job-seeking stage to leaving the company. Upadhyay, who has w
Feb. 24, 2020
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Air Busan suspends 25 international routes amid coronavirus outbreak
Air Busan on Monday said it will suspend 78 percent of its international routes next month to counter business challenges amid the COVID-19 outbreak. In March, the domestic low-cost carrier will stop operating 25 international routes bound for China and Southeast Asian countries, which have recently seen a dramatic decrease in passengers. According to the company, all Air Busan executives, including the CEO, have submitted their resignations to help the company cope with recent financial diff
Feb. 24, 2020
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SK Bioscience to build vaccines platform for future virus spreads
Vaccines company SK Bioscience will build a research and development platform that will allow a speedy response to future outbreaks of mutant viruses, the company said Monday. COVID-19, severe acute respiratory syndrome and Middle East respiratory syndrome are ribonucleic acid coronaviruses that endlessly transform to outlive treatments. Developing vaccines for coronaviruses, therefore, generally requires one to five years. SK Bioscience said it envisions to shorten that by understanding what
Feb. 24, 2020
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Coway boasts No. 1 eco-tech research institute in Asia
South Korea’s leading household electronics rental service company Coway attributes its competitiveness to the high-tech analyses at its Environmental Technology Research Institute, the biggest such facility in Asia. According to the company, the institute is at the center of its research and development of cutting-edge technologies and products, as the organization spearheads the entire product development process, starting from research to product design and development, to cond
Feb. 23, 2020
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[Monitor] Market caps of firms decline in February
The market capitalization of listed South Korean companies declined across industries, according to data from market researcher FnGuide. Between Jan. 20 and Thursday, the combined market cap of 48 firms selling personal and daily goods, including cosmetics makers, fell 5.06 trillion won based on the closing prices of stocks. The market cap of the wholesale and retail sector dropped 2.92 trillion won, while that of the hotel and leisure industry declined about 1.85 trillion won. (khnew
Feb. 23, 2020
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Posco Chemical and OCI to establish JV to produce hydrogen peroxide for semiconductors
Posco Chemical and OCI Company said Sunday that they will establish a hydrogen peroxide joint venture to tap the semiconductor processing materials business. According to the announcement, the JV will take shape in the second quarter of 2020, with a 51 percent stake to be held by Posco Chemical and 49 percent by OCI. The groundbreaking will take place this year, and commercial manufacturing is expected to begin in 2022. Hydrogen peroxide is an environmentally friendly oxidant that is widely us
Feb. 23, 2020
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[News Focus] After 15 years, Korea considers overhaul of games industry law
The South Korean government is looking to revise the law that governs the games industry, with a view to supporting its growth rather than constraining it. For a nation that boasts ultrafast connectivity and a culture of internet cafes, one that is home to world-famous esports figures like League of Legends player Faker, Korea is a less ideal environment for game companies than one might imagine. A number of unusual speed bumps hinder a smooth ride on the path to growing a business. For 2020,
Feb. 23, 2020
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Samsung to supply U.S. Cellular with 5G, 4G LTE network solutions
Samsung Electronics said Sunday it has signed a deal with U.S. Cellular to provide the American mobile carrier with 5G and 4G Long Term Evolution network solutions. This is the fourth US deal Samsung has clinched in the field of telecommunications and its first with U.S. Cellular. Under the agreement, U.S. Cellular can purchase Samsung’s 5G solutions, including New Radio technology, to boost its existing 4G LTE network services. U.S. Cellular is the fifth-largest telecom service prov
Feb. 23, 2020
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Department stores shut down over coronavirus fears
Major South Korean retailers said Sunday they will partially shut down some of their outlets in Seoul for disinfection measures following recent visits by patients diagnosed with the new coronavirus. Shinsegae Department Store said its store in the posh Gangnam district will close its food court on the basement level for one day, after a patient infected with the COVID-19 virus stayed at the venue for an hour on Wednesday with her husband. The patient attended a religious service of a minor C
Feb. 23, 2020
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Use of AI speakers, PCs, smartphones increases in Korea amid COVID-19 outbreak
The use of AI speakers, PCs and smartphones has increased here amid the COVID-19 outbreak, according to industry data. South Korean mobile carrier KT on Friday said use of its AI speaker Giga Genie increased 8.3 percent in Jan. 30-Feb. 12 compared with Jan. 2-15, before the outbreak was reported. In particular, the number of news searches surged 99 percent, KT said, adding that they were largely related to confirmed cases of the coronavirus here. Online grocery shopping via the AI speake
Feb. 21, 2020
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Samsung’s Z Flip Thom Browne edition sells out in 2 1/2 hours
Online sales of Samsung Electronics’ Z Flip Thom Browne edition ended within just 2 1/2 hours on Friday. Samsung Electronics at Thursday midnight started sales of the limited Thom Browne edition of its new foldable phone. The company’s official website suffered crashes from the load as a rush of consumers tried to connect all at once. The number of Z Flip Thom Browne edition phones sold remained undisclosed by the company. Samsung Electronics was initially to open sales of the Z
Feb. 21, 2020
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Former finance minister to head Samsung Electronics’ board
Former Finance Minister Park Jae-wan was appointed as the new board chair of Samsung Electronics, becoming the first outside director to head the tech giant’s board of directors, the company said Friday. Park, 64, has been an outside director for the tech behemoth since March 2016. Park served as the minister of labor from 2010 to 2011 and minister of finance from 2011 to 2013, both times in the Lee Myung-bak administration. He holds a bachelor’s degree in economics from Seoul Nati
Feb. 21, 2020
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Former Hanjin executives support current chairman, denounce KCGI coalition
Following the Hanjin Group labor union’s endorsement of Chairman Cho Won-tae last week, former executives have also stepped up to support the current management, according to their statement Friday. Issued in the name of the former executive council, they said, “We fully trust and support the current management centering on Chairman Cho.” The group consists of about 500 retirees who served as executives at the group. “Despite the challenging business environment,
Feb. 21, 2020