Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Yoon set for talks with Marcos in Philippines
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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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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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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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First lady’s Dior bag scandal to be at center of Assembly audit
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Firefighters’ 3,000 won meals spark nutrition concerns
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McDonald’s Korea to adopt sanitation grading system
McDonald’s Korea said Monday that it will introduce a sanitation grading system for all its restaurants by 2020, following recent controversy over food hygiene.The US fast food chain said that it has decided to manage store operations with strengthened standards and introduce a restaurant sanitation grading system, in addition to random inspections at its stores conducted by outside specialist organizations. Late last month, a local media outlet released photos of undercooked patties
Nov. 25, 2019
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Hollys Coffee tops overall consumer satisfaction survey
South Korean consumers found local coffeehouse chain Hollys Coffee to offer the highest level of customer service, the best products and the most favorable impression, an industry survey showed Monday.According to the survey conducted by the Korea Consumer Agency on 1,031 consumers who had visited the country’s six major coffee chains -- Starbucks, Angel-in-us, Ediya Coffee, Coffee Bean, Twosome Place and Hollys Coffee -- Hollys Coffee received the highest score for overall satisfaction wi
Nov. 25, 2019
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Air New Zealand begins services to S. Korea
Air New Zealand on Monday began flight services to South Korea to absorb growing travel demand from Asia's fourth-biggest economy.On Nov. 23 (local time), Air New Zealand flight NZ75 departed Auckland International Airport for Seoul's Incheon International Airport for the first time in more than two decades, according to the airline. Travel demand from South Korea to New Zealand has been growing significantly in recent years. Seoul, with a population of over 10 million residents, will be a popul
Nov. 25, 2019
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SK Biopharm to raise at least W5tr in IPO
South Korean drug firm SK Biopharmaceuticals Co. is expected to raise at least 5 trillion won ($4.25 billion) through a planned share sale, analysts said Monday. The company said Friday that XCOPRI, or cenobamate, has won approval from the US Food and Drug Administration for the treatment of partial-onset seizures in adults. Following the FDA approval, SK Biopharmaceuticals will likely speed up its IPO, with its shares slated to be listed early next year, according to them.SK Biopharmaceut
Nov. 25, 2019
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Samsung Heavy wins $1.5b LNG ship order
Samsung Heavy Industries Co., the world's second-biggest shipbuilder by orders, said Monday it has received a $1.5 billion LNG carrier order.Under the deal with an unidentified client in the Eurasian region, Samsung will build the LNG carrier by September 2022, the company said in a regulatory filing. The company didn't provide further details. The shipbuilder has bagged $6.9 billion worth of orders so far this year, achieving 88 percent of this year's order target of $7.8 billion, it said.
Nov. 25, 2019
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[ASEAN-Korea summit] South Korea seeks to host 2030 World Expo in Busan
South Korea aims to host the 2030 World Expo in Busan, boasting its advanced infrastructure, prominent tourist attractions and know-how in international events, officials said Friday. The World Expo, which takes place for six months every five years, is one of the world’s three largest events, including the Olympics and soccer’s World Cup. If Korea is successful in attracting a World Expo, the nation plans to host the international event in Busan’s North Port area from May to N
Nov. 24, 2019
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[ASEAN-Korea summit] South Korea forges close ties with Southeast Asia amid ‘fourth industrial revolution’
South Korea is building stronger ties with the young and fast-growing economies of Southeast Asia in hopes of creating opportunities and seeking a breakthrough in a world facing new challenges amid the “fourth industrial revolution.”The Association of Southeast Asian Nations is emerging as a new growth engine of global consumer markets and production bases with enormous potential. The world’s youngest and most dynamic economic community has a combined population of 650 million
Nov. 24, 2019
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S. Korea's chip, display industries intact from Japan's export curbs
South Korea's chip and display industries, the backbone of Asia's No. 4 economy, have remained intact since Tokyo's export curbs against the Asian neighbor, Seoul's trade ministry said Sunday.The country's top four tech giants -- Samsung Electronics Co., Samsung Display Co., SK hynix Inc. and LG Display Co. -- claimed that they have suffered no significant damages in their production lines from the restrictions, according to the Ministry of Trade, Industry and Energy. In July, Japan implemented
Nov. 24, 2019
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Samsung Heavy Industries to pay $75m in fines over bribery scheme
Samsung Heavy Industries Co., a major South Korean shipbuilder, has agreed to pay $75 million in penalties to avoid prosecution in the United States over its scheme to pay millions of dollars in bribes to Brazilian officials to win a contract, the US Department of Justice has said.The company has admitted to paying $20 million in commission to a Brazilian intermediary between 2007 and 2013, knowing that some of that money would be used to bribe high-level executives at a Brazilian state-owned oi
Nov. 23, 2019
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Korean Air 'nut rage' heiress grilled over alleged assault, child abuse
Cho Hyun-ah, the infamous "nut rage" heiress to Korean Air Lines Co., has been grilled by prosecutors over allegations of assault and child abuse raised by her husband, with whom a divorce suit is under way, sources said Saturday. Prosecutors called in Cho, a former vice president of the air carrier and daughter of late Hanjin Group chief Cho Yang-ho, earlier this week, after her husband, surnamed Park, filed an accusation against her in February.Park also filed a divorce suit in April
Nov. 23, 2019
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Bridge Biotherapeutics to become first ‘NRDO’ biotech to go public in Korea
Biotech startup Bridge Biotherapeutics is on its way to becoming the first Kosdaq-listed no-research, development-only company in Korea by the end of this year, the company said Friday.This is the company’s third attempt at making an initial public offering, and more promising than the previous two attempts on the back of the record 1.5 trillion-won ($1.27 billion) licensing out to Germany’s Boehringer Ingelheim in July. In a press conference held at Conrad Seoul, CEO Lee Jung-kue sa
Nov. 22, 2019
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Moon emboldened by new corporate investment in chip material production
President Moon Jae-in celebrated the construction Friday of a new silicon wafer plant in South Korea by a Taiwanese firm's local unit, calling it a milestone in his country's efforts to diversify the supply channel of core strategic materials against Japan's export control.His move came as a Seoul-Tokyo military information-sharing accord, called the General Security of Military Information Agreement, is scheduled to expire at the end of the day.Seoul's decision not to extend GSOMIA is attributa
Nov. 22, 2019
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Korean EV battery makers' market share sharply up in Sept.
South Korea's major electric vehicle battery producers sharply increased their market share in September amid a slowdown in global EV battery use, industry data showed Friday. Based on the global usage of their EV batteries, the combined market share of three South Korean EV battery makers -- LG Chem Ltd., Samsung SDI Co. and SK Innovation Co. -- stood at 16 percent in September, up 6.8 percentage points from a year earlier, according to data from market tracker SNE Research. L
Nov. 22, 2019
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USFDA approves SK Biopharmaceuticals’ new anti-epileptic drug
A new South Korean anti-epileptic drug will be available in the US from as early as April. The US’ Food and Drug Administration has approved SK Biopharmaceuticals’ anti-epileptic drug XCOPRI (Cenobamate), officials said Friday. The product will be available in the second quarter of 2020 after review by the US Drug Enforcement Administration.The marketing and sales process will be overseen by SK Life Science, the US subsidiary of SK BIopharmaceuticals based in Paramus, New Jersey. XCO
Nov. 22, 2019
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Jeju Air opens routes to Phu Quoc, Bohol
Jeju Air Co., South Korea's biggest low-cost carrier, said Friday it has opened routes to Vietnam's Phu Quoc and the Philippines' Bohol amid lower demand for travel to Japan.The budget carrier began to serve the routes from Incheon International Airport to the two Asian cities on Thursday, the company said in a statement.Local airlines have suspended or reduced flights on routes to some less-popular Japanese cities since August amid a trade row between South Korea and Japan.To protest Japan's cu
Nov. 22, 2019
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Local PEF chosen as preferred bidder to buy SKC Kolon PI
A local private equity fund was selected the preferred bidder on Thursday to acquire a controlling stake in SKC Kolon PI Inc., a joint venture between South Korea's SKC Co. and Kolon Industries Inc. that makes polyimide (PI) film. SKC and Kolon Industries said they've selected Glenwood PE as the preferred bidder to acquire their 54.06 percent stake in SKC Kolon PI. SKC and Kolon Industries each hold a 27.03 percent stake in the PI maker. Industry insiders speculate that the deal is worth ar
Nov. 21, 2019
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S. Korea ready to support Asia's second-largest theme park: minister
South Korea's finance minister said Thursday that the government will spare no effort for the completion of a multi-billion-dollar project to build Asia's second-largest theme park in the country.South Korean retail giant Shinsegae is set to break ground for the 4.57 trillion-won ($3.8 billion) project to build a theme park in Hwaseong, about 40 kilometers southwest of Seoul, in 2021, with an initial opening in 2026 and the full opening in 2031.The project on a 4.2-square-kilometer plot of land
Nov. 21, 2019
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[Herald Interview] Aionco Korea aims to become Korea’s Amazon for K-beauty
Aionco Korea, a South Korean business-to-business platform of K-beauty products for global e-commerce, was established in 2015. Within four years, the Korean platform that connects local cosmetics suppliers with foreign buyers all over the world has garnered over 500 vendors representing markets in 54 countries. Some of them include China’s Alibaba and individual sellers on marketplaces such as Lazada and Q10. “Our company allows retail buyers abroad to have an easy access to a
Nov. 21, 2019
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CJ Healthcare’s K-CAB Tab makes inroads into Thailand
CJ Healthcare said Thursday it will export its original gastroesophageal reflux disease drug to Thailand’s Pond’s Chemical. K-CAB Tab (tegoprazan) is listed as the 30th new drug developed by a Korean company. It acquired commercial approval from South Korea’s Ministry of Food and Drug Safety in 2018 and was launched here in March 2019. Since then, the drug has raked in 18.7 billion won ($15.8 million) in sales. K-CAB Tab is already being exported to 17 countries including China
Nov. 21, 2019
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LG and Kakao join hands to promote blockchain
LG’s IT solutions affiliate LG CNS and Kakao’s blockchain subsidiary Ground X joined hands with a view to expanding the use of blockchain and applying it to diverse business areas, the firms said Thursday.The two companies agreed to a strategic partnership to build mutually compatible infrastructure. Ha Tae-Seok, the leader of LG CNS’ future strategic business division, and Kakao Ground X CEO Han Jae-seon attended a signing ceremony at the LG CNS headquarters within LG Science
Nov. 21, 2019