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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Can Jennie break the K-pop solo artist slump?
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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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E-Mart to sell assets, buy back stocks amid grim outlook
E-Mart Inc. said Tuesday that it plans to raise 1 trillion won($820 million) by selling assets as the country's top retailer is struggling with falling profitability amid increased competition with e-commerce giants here.The company said it plans to securitize its outlets worth 1 trillion won by the end of the year and buy back its stocks worth some 100 billion won to boost shareholder value. The measures came as the country's leading discount chain operator swung to the red in the second quarte
Aug. 13, 2019
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BAT Korea launches vaping e-cigarette Glo sens
British American Tobacco launched a fusion technology-based hybrid e-cigarette Glo Sens on Tuesday in South Korea, seeking to counter competition from KT&G’s Lil Vapor and American startup Juul Labs’ Juul. According to the company, Glo sens -- which was launched here first globally -- is powered by Taste Fusion Technology, which combines vaping with real tobacco. By heating a Neo pod, which contains flavored liquid, the vapor goes through a tobacco pod and delivers the
Aug. 13, 2019
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SK E&C, Daelim win Project Finance Deal of the Year through $3.1 deal in Turkey
South Korean builders SK Engineering & Construction and Daelim Industrial said Tuesday they won the Project Finance Deal of the Year award for securing a $3 billion construction deal in Turkey. The two companies clinched the deal as preferred bidders in 2017 through a four-way consortium comprising SK E&C, Daelim and two Turkish builders, Limak and Yapi Merkezi. Dubbed the Turkey Canakkale project, it involves building a 3.7 kilometer-long suspension bridge in Turkey, the longe
Aug. 13, 2019
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Lotte chief meets Israeli minister for startup investment
Lotte Group Chairman Shin Dong-bin met Israel’s Economy Minister Eli Cohen to discuss ways to strengthen partnership with tech companies and startups in the Middle Eastern country, the South Korean food and retail giant said Monday.During a meeting in Jerusalem on Sunday, the chairman told the minister that Lotte plans to invest in Israel’s innovative companies in the areas of agriculture, robots and artificial intelligence for the group’s future growth. Minister Cohen, in resp
Aug. 12, 2019
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Samsung BioLogics adopts N-1 Perfusion at Plant No. 3
Samsung BioLogics said Monday that a new cell-culturing technology called N-1 Perfusion -- adopted for its third plant in Songdo, Incheon, from July -- has proven to increase cell density up to 10 times and cut down on production time by 30 percent.“With this, we have opened up scaled-up commercialization for our clients,” said John Lim, vice president at Samsung BioLogics, who is in charge of Plant No. 3. The South Korean contract manufacturing organization will customize its c
Aug. 12, 2019
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Samsung, LG among top 10 patent holders in US in 2018
South Korean tech giants Samsung Electronics and LG Electronics were among the companies that were granted the greatest number of patents in the US last year, falling within the top 10 and rubbing shoulders with IBM, Microsoft and General Electric, a report by a US patent association showed Monday. Samsung ranked No. 2 with 5,836 registered patents in the US, surpassed only by US IT giant IBM, which filed 9,088, according to the Intellectual Property Owners Association. The Korean IT
Aug. 12, 2019
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S. Korea to exclude Japan from trade whitelist in September
South Korea is set to drop Japan as a preferred trading partner in September in response to Tokyo’s recent decision to exclude Seoul from its whitelist, officials said Monday. “An export control system on strategic items should be run under ground rules of an international export control system,” said Industry Minister Sung Yun-mo during a press briefing Monday afternoon.“(However) the system should be run accordingly (if a trading partner) operates the system that runs c
Aug. 12, 2019
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[Behind the Brand: 3] Brand names that let numbers do the talking
The meticulously planned out stories behind brand names often go unnoticed by consumers.That is the case especially for alphanumeric brands, which combine words and numbers. These brand names may roll off the tongue easily, but oftentimes consumers have very little understanding of why certain numbers have been chosen to represent the brand.Below are five well-known South Korean brands and the stories behind them.8SecondsHow long does a company have to make a first impression? According to cloth
Aug. 11, 2019
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In new media landscape, ‘old’ broadcasters struggle to adapt
As an increasing number of content creators in South Korea use advanced digital technology to establish independent broadcasting platforms, the country’s major broadcasters are suffering financially, data showed Sunday. According to Rep. Yoon Sang-jin of the main opposition Liberty Korea Party, Korean Broadcasting Systems reported an operating loss of 65.5 billion won ($53.9 million) for the first half of this year, as compared with 53 billion won from a year earlier. The decreased opera
Aug. 11, 2019
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[Newsmaker] Kolmar Korea president resigns, apologizes for controversial video
Yoon Dong-han, president of cosmetics and health care goods manufacturer Kolmar Korea, apologized and resigned Sunday after showing a controversial video praising Japan to employees last week.During a press conference at Kolmar Korea’s headquarters in Seoul, Yoon said he deeply regretted his behavior and would take responsibility by resigning from the top post.“I apologize to our clients for causing harm due to my wrong behavior, and also to customers who trusted Kolmar Korea product
Aug. 11, 2019
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[Herald Interview] Accounting alignment a prerequisite for better inter-Korean business ties
When inter-Korean relations appeared to be improving in 2018, there were expectations that North Korea would open its markets and South Korean companies would have an upper hand due to their cultural similarities.But the on-ground situation is different. What is often overlooked is that doing business in North Korea is not as easy as it seems. The accounting system of the long-secluded area is not up to international rules standards, according to a senior accountant with expertise in inter-Korea
Aug. 11, 2019
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[From the scene] Outdoor leisure gets more exciting with 5G thrills
Telecom service provider KT has taken over Surfyy Beach, a rising surfers’ beach party area in Yangyang, Gangwon Province, with various activities related to 5G services for 10 days from Friday to Aug. 18.The first thing visitors can see is a banner “KT 5G 5WAG,” written so that the number 5 in the last word looks like the alphabet “S.” The words are emblazoned across a giant screen installed at the entrance to the beach, which livestreams footage of jet surfer ridi
Aug. 11, 2019
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KOGAS Q2 net losses narrow on price hikes
The state-run Korea Gas Corp. said Friday its net losses narrowed sharply in the second quarter on gas price hikes. Net losses for the three months ending June 30 narrowed to 6.8 billion won ($5.6 million) from 129.6 billion won a year earlier, the company said in a statement. "Gas prices rose 4.5 percent for the year. Some of the company's outstanding payments for gas supply to the markets were retrieved in the second quarter. These gave a big boost to the quarterly bottom line,"
Aug. 9, 2019
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KIC invests $412m in Japanese firms linked to war criminals
State-run Korea Investment Corp. is found to have heavily invested in Japanese companies linked to forced wartime labor, according to sources, prompting concerns about the investment portfolio of domestic financial institutions. It is the latest revelation after the release of the National Pension Service’s investment history last month.According to Rep. Kim Kyung-hyub from the ruling Democratic Party on Friday, the KIC invested about $412 million -- as of last year -- in 46 Japanese compa
Aug. 9, 2019
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Antitrust regulator nominee says ‘fair economy is vital’
South Korea’s antitrust watchdog nominee Joh Sung-wook said she would keep “fair economic development” in mind, adding both conglomerate reforms and fair economy are vital. The professor at Seoul National University met with reporters on Friday afternoon shortly after President Moon Jae-in nominated her as the new chief of the Fair Trade Commission. “I feel a heavy responsibility to be nominated as the FTC head, who serves a critical role of pursuing a fair economy,
Aug. 9, 2019
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Kakao and Twice collaborate for new Kakao merchandise
Kakao IX, the Kakao company that oversees the characters of Kakao Friends, announced Friday the release of Kakao Friends Twice Edition, a new merchandise series in collaboration with girl group Twice. First to be released from the series are nine pin badges with pictures drawn by the members of Twice themselves. “Twice members have been actively participating throughout the idea planning and designing processes,” Kakao IX said, with behind-the-scenes videos of the process to be
Aug. 9, 2019
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Female SNU professor nominated to head S. Korea’s antitrust watchdog
President Moon Jae-in has nominated Joh Sung-wook, a professor at Seoul National University, to lead South Korea’s antitrust watchdog, the presidential office said Friday. Joh, 55, will replace former head Kim Sang-jo, who is Moon’s chief policy secretary since June. Currently serving as professor at SNU Business School, Joh previously served as a non-executive member of the Financial Services Commission’s Securities & Futures Commission from April 2013 to April this y
Aug. 9, 2019
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SillaJen vows to come back with more data to prove Pexa-Vec efficacy
SillaJen will sturdy rickety investor sentiments with more data as soon as ready, the company told The Korea Herald on Friday, while maintaining that currently it can only offer to say the company has unfazed faith in the efficacy of Pexa-Vec.SillaJen will follow through with the plan to establish a new research and development center in Pangyo, Gyeonggi Province, which will open in September. SillaJen, a viral Korean biotech company whose market value came reached 10 trillion won ($8.3 billion)
Aug. 8, 2019
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Japan gives first export approval to South Korea after tightened rules
The South Korean government said Thursday that Japan has allowed high-tech materials to be exported to South Korea in the first approval since the Shinzo Abe administration imposed export curbs in July on three materials crucial for Korea’s chip and display production. Prime Minister Lee Nak-yon said Thursday that Japan had granted its first approval for exporting extreme ultraviolet photoresists to Korea a day earlier. EUV photoresists are one of the three materials that Japan restri
Aug. 8, 2019
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S-Oil grants scholarships of W330m to students
South Korea’s leading oil refiner S-Oil held a ceremony Wednesday to award scholarships to students at an orphanage. The S-Oil Dream Scholarship is an annual donation organized by the company to provide educational opportunities to less-advantaged students.This year, 135 students from Sundukwon Orphanage, as well as a choir group at the center, were provided scholarships totaling 330 million won ($273,000). Since 2016, the company has donated 1.2 billion won to aid 485 students.Of th
Aug. 8, 2019