Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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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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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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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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Can Jennie break the K-pop solo artist slump?
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Firefighters’ 3,000 won meals spark nutrition concerns
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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Helixmith’s Engensis phase 3 trial yields no meaningful result
Helixmith shares on Korea’s secondary bourse Kosdaq closed 30 percent lower at 120,000 won ($100) on Tuesday, the deepest dive possible in a day, after the company made an official report to shareholders regarding a bump in the clinical phase 3 trial results of its innovative drug candidate Engensis, Monday.Helixmith is better known by its 20-year-old name ViroMed. ViroMed was founded in 1999 as a bio venture that develops new and innovative drugs for cardiovascular and neurological diseas
Sept. 24, 2019
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S. Korean, Japanese biz leaders call for restoration of relations amid trade row
Business leaders from South Korea and Japan on Tuesday voiced their hopes that the two countries can work to restore their bilateral relationship over a tit-for-tat trade dispute. Some 300 business leaders from the two countries gathered in Seoul for the annual conference of the Korea-Japan Economic Association to discuss the economic situation surrounding the two Asian neighbors. "Both South Korea and Japan have to deeply understand each other and should live together through cooperation a
Sept. 24, 2019
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LoL World Championship to kick off next week
The annual League of Legends World Championship will be held next week, with Korean teams including SK Telecom T1, Griffin and Damwon Gaming in the mix.The LoL Worlds will kick off on Oct. 2 in Berlin, with the quarterfinals and semifinals starting from Oct. 26 in Madrid, culminating with the final round on Nov. 10 in Paris. According to game maker Riot, the main stage groups have been drawn and the Summoner’s Cup trophy will come in a Louis Vuitton trunk in a new collaboration with the up
Sept. 24, 2019
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South Korea to purchase US LNG worth $9.6b
South Korea’s state-run Korea Gas Corp. signed a long-term agreement with British energy company BP to buy US liquefied natural gas, the first LNG deal between the two countries under the Donald Trump administration, officials said on Tuesday. On Monday, Korea Gas Corp. signed a 15-year contract with BP in Washington to purchase 1.58 million tons of US liquefied natural gas on a yearly basis starting from 2025. The seller, BP, can extend the term for three years if desired.The signing
Sept. 24, 2019
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Hanwha promotes young CEOs in major reshuffle
Hanwha Group replaced the heads of its seven subsidiaries on Monday with younger chiefs, signaling a generational shift in the energy-to-chemical empire with 65 trillion won ($54.4 billion) in assets.Introducing the seven new CEOs as leaders for the group’s future growth -- whose expertise and performance are proven -- the nation’s eighth-largest conglomerate said the decision was made to better deal with growing external uncertainties.Kim Youn-chul, who simultaneously led Hanwha&rsq
Sept. 23, 2019
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Celltrion receives positive opinion for marketing Remsima SC in Europe
Celltrion received a positive opinion for marketing its subcutaneous-type Remsima from the Committee for Medicinal Products for Human Use of the European Medicines Agency, the company said Monday. A CHMP positive opinion usually indicates that the company will eventually gain EMA‘s approval, Celltrion said, making vows to dominate the 45 trillion won ($ 37.7 billion)-size TNF-alpha inhibitor market by 2038. Celltrion has applied for a patent for Remsima SC in approximately 130 countries.&n
Sept. 23, 2019
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[Herald Interview] Can AI replace radiologists?
Artificial intelligence is here to stay, according to GE Healthcare Chief Medical Officer Mathias Goyen, who highlighted its role in advancing precision medicine.“AI per se will not replace radiologists, but professionals who leverage the power of AI will replace those who don’t,” he told reporters Friday.Goyen was speaking on the sidelines of the 75th Korean Congress of Radiology that took place at Coex exhibition hall in Seoul through Saturday and was joined by his colleague
Sept. 23, 2019
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Korea’s rental-based consumption expands 448% in 5 years: data
South Korean consumers’ use of subscription-based rental services has grown almost fivefold in the past five years, market data showed Monday.According to online marketplace Gmarket, the number of orders for rental services of products -- such as massage chairs and air purifiers -- via Gmarket increased 448 percent from January to Sept. 16 compared to the same period in 2014.Gmarket, operated by e-Bay Korea, attributed the expanded demand for subscription services to the spending habits of
Sept. 23, 2019
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US energy institute says Doosan Heavy needs forensic audit
Doosan Heavy Industries’ high dependence on nuclear and fossil fuel power has led to serious financial troubles, and it is time for the firm to undergo a forensic audit, as its financial results raise important fiduciary questions, according to a US-based energy economics institute on Monday. “The past five years have been dire for its shareholders and the stock prices of the firm have fallen 74.8 percent,” said Melissa Brown, director of energy finance studies at the Inst
Sept. 23, 2019
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Hyosung’s spandex plant starts operation in India
South Korean industrial conglomerate Hyosung’s spandex plant in India went into commercial operation Friday, the firm said Monday. The plant, near Aurangabad Industrial City on a site that covers about 400,000 square meters, is capable of producing 18,000 tons of spandex per year. Hyosung, which entered India in 2007, generates more than $300 million in annual sales there. The company established an ultra-high-voltage breaker production plant in Pune in 2016.CEO Cho Hyun-joon said, &l
Sept. 23, 2019
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S. Korea remains Japan's 3rd-largest trade partner despite export curbs
South Korea remained Japan's third-largest trading partner in July, despite Tokyo's restrictions on exports to Seoul, data showed Monday. According to the data by the Korea International Trade Association, Japan exported some 4.8 trillion won ($4 billion) worth of goods to South Korea in July, accounting for 6.6 percent of Tokyo's total exports. Since July, Japan has tightened exports of key materials to South Korea in apparent retaliation over Seoul's court rulings on compensation for wartime f
Sept. 23, 2019
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S. Korean exports drop faster than other countries' in Q2
South Korea's exports declined at one of the fastest rates among the Group of 20 countries amid the protracted trade row between the United States and China, data showed Monday.In the April-June period, South Korea's outbound shipments dipped 8.6 percent from the same period last year, according to a monthly report from the World Trade Organization. The rate of decline marks the second highest among G-20 countries after the 9.1-percent on-year drop posted by Indonesia.Such a drop was apparently
Sept. 23, 2019
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KOTRA forum to promote Korea-India business cooperation
The state-run Korea Trade-Investment Promotion Agency said Sunday it will be holding an extensive Korea-India business forum this week, in line with Seoul’s initiative to expand beyond its conventional trade partners.Co-hosted by the Korean Embassy in India and the Presidential Committee on New Southern Policy, the event is to focus on the “3P” values of people, peace and prosperity, officials said. Some 540 companies and 800 individuals are expected to attend the affiliated se
Sept. 22, 2019
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[Herald Interview] Local mindset behind global market clout: Schneider CEO
SINGAPORE -- Roughly 30 percent of France-based Schneider Electric’s revenue came from the Asia-Pacific region in 2018. Another 30 percent came from North America and Western Europe, respectively, with the portfolio ranging from voltage distribution products to solutions for automation, energy storage and smart building infrastructure.Behind the firm’s global clout is its ability to make use of local resources and meet local demands, a quality that is also playing out in South Korea,
Sept. 22, 2019
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National Assembly speaker inspects Samsung SDI plant in Hungary
National Assembly Speaker Moon Hee-sang took time on Saturday (local time) to inspect the Samsung SDI factory located near Budapest, the company said Sunday.In a meeting with executives and employees of the battery maker, Moon remarked that Samsung represents South Korea in the global market, praising it for its tireless efforts to elevate the global status of both the conglomerate and country. Moon also talked of how proud he was when he heard that foreign countries were purchasing technologies
Sept. 22, 2019
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Eximbank runs soup kitchen during holiday season
The Export-Import Bank of Korea has been consistently engaging in community welfare, such as through the Hope Seed volunteer program involving a soup kitchen earlier this month near Seoul Station, according to the bank Sunday.The soup kitchen provided some 300 homeless people with hearty meals ahead of Chuseok. “It was a meaningful time to share some love and bond with those who are excluded during the thanksgiving holiday,” said Eximbank Deputy President Kang Seung-joong. Acco
Sept. 22, 2019
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Samsung slips 26 notches in global corporate reputation ranking
South Korea's top tech giant Samsung Electronics Co. fell sharply in a global corporate social responsibility ranking to a record low of 90th this year, a US market survey showed Sunday.In the 2019 Global RepTrak report released by the Reputation Institute, the world's biggest memory chip giant moved down a whopping 26 steps in terms of its global reputation. The rankings are based on a company's governance structure, social contribution and working conditions for workers. It marked the lo
Sept. 22, 2019
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Retail giants eye luxury segment to bolster online biz
South Korea's retail giants are increasingly turning their eyes to the luxury segment for their e-commerce business in an apparent move to differentiate themselves from online competitors. Lotte Shopping, the operator of South Korea's biggest department store and a leading discount store, opened its first online shopping mall that only sells luxury brands on Thursday.The website, dubbed Lotte Premium Mall, sells over 24,000 products from 234 high-end brands ranging from Bottega Veneta to E
Sept. 21, 2019
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Rising nickel prices bode well for cathode material makers
South Korea's cathode material producers are likely to see solid earnings in the fourth quarter of the year on a surge in nickel and cobalt prices, analysts here said Saturday, amid growing demand for electric vehicle (EV) batteries. Nickel and cobalt are key raw materials for cathodes, one of the four main components of a lithium-ion battery. According to market tracker SNE Research, 112,000 tons of cathode materials were used in the first half of the year, up 80.9 percent from a year earlier.T
Sept. 21, 2019
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Tokyo willing to discuss export controls with Seoul
In response to the complaint filed by the South Korean government with the World Trade Organization on the subject of Japan’s export control measures, Tokyo has expressed its willingness to have bilateral consultations with Seoul, a day before the 10-working day deadline set by the WTO, officials said Friday. Japan’s response could be the first step in resolving the Korea-Japan trade dispute triggered by Japan’s export restrictions. “The Japanese government has resp
Sept. 20, 2019