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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Firefighters’ 3,000 won meals spark nutrition concerns
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Can Jennie break the K-pop solo artist slump?
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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Japan’s export curbs to have negative implications globally: AmCham
Amid the ongoing tensions following export curbs by Japan on hi-tech exports to South Korea, the American Chamber of Commerce in Korea on Thursday expressed concerns that it could have a negative impact on global trade.“AmCham is committed to free and fair trade worldwide. The tightening of export controls on critical materials to Korea will have damaging effects on bilateral trade and also have negative implications globally,” the organization said in a statement. It added that
July 25, 2019
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NCSoft marches onto global stage with AI tech
NCSoft, a pioneer in artificial intelligence research among Korean game companies, is shifting beyond the tech applicable to games to cover various original AI tech for cross-genre industries. Under the drive of CEO Kim Taek-jin and President Yoon Song-yee, the company put together an AI research team as early as 2011. Eight years forward, the company now has around 150 AI research-focused staff. NCSoft touts that its AI know-how is of international standards -- CEO Kim is quoted to have exchang
July 25, 2019
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Korea to join RCEP talks in China this week
South Korea is slated to participate in the 27th official negotiations this week to discuss the implementation of an Asia-Pacific mega trade deal possibly this year. The upcoming talks for a Regional Comprehensive Economic Partnership will be held in Zhengzhou, China, from Friday. RCEP is, in essence, a massive regional trade deal between the 10 members of the Association of Southeast Asian Nations and the six countries with which ASEAN has free trade agreements -- Korea, China, Japan, Indi
July 25, 2019
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Naver's Q2 net dips 90% on increased spending
South Korea's top internet portal operator Naver Corp. said Thursday that its net profit dipped 90.1 percent in the second quarter from a year earlier largely due to increased spending on new businesses.Net profit reached 27.8 billion won ($23.6 million) in the April-June period, compared with a profit of 282 billion won a year earlier, the company said in a press release. Operating income reached 128.3 billion won during the cited period, also marking a decrease of 48.8 percent from the year be
July 25, 2019
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At WTO, South Korea says Japan using trade as political tool
At the World Trade Organization General Council in Geneva, South Korea strongly urged Japan to retract export curbs, saying Tokyo is using trade as a political tool and disrupting trade for political purposes, officials said Thursday. At the general council, which is the WTO’s highest-level decision-making body, the trade dispute between the two nations was discussed from 12:40 p.m. to 15:30 p.m. (local time) Wednesday. Kim Seung-ho, deputy minister for multilateral and legal affairs, and
July 25, 2019
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Auction to sell Asiana Airlines begins
Kumho Asiana Group, a South Korean airline-to-petrochemical conglomerate, on Thursday began the process of selling its airline unit with the aim to complete it this year. The group put its construction affiliate Kumho Industrial Co.'s entire 33.5 percent stake in Asiana Airlines up for sale to secure liquidity as the group faces a cash crunch. In a public bidding notice, Credit Suisse, the deal's adviser, said it will send a prospectus to potential investors who have disclosed their intention to
July 25, 2019
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Naver to spin off mobile payment division
Naver Corp., the operator of South Korea's dominant internet portal, said Wednesday it has decided to spin off its mobile payment division, Naver Pay. The new company, tentatively named Naver Financial, will be launched in November with an aim of making inroads into the financial services sector, including loans, insurance and investment. The decision came after the number of Naver Pay users recently exceeded 10 million. Mirae Asset Daewoo Co., South Korea's top brokerage, plans to invest
July 24, 2019
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School Forest Project promoting urban greenery turns 20
Boosting greenery in cities may seem like a difficult task. However, a project has been coming up with innovative solutions to the lack of green space for the past 20 years. School Forest Project -- launched in 1999 through a collaborative effort between nongovernmental organization Forest for Life and sanitary product manufacturer Yuhan-Kimberly -- targets public schools in South Korea lacking green space on their school grounds. By planting various types of greenery, such as trees and bushes,
July 24, 2019
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Hyundai and Kia Motors awarded Platinum in 2018 LACP Vision Award
Hyundai and Kia Motors won the Platinum Award in the 2018 LACP Vision Awards for the quality of their sustainability reports, the companies said Wednesday. LACP, short for League of American Communications Professionals, annually screens some 1,000 business reports from roughly 20 nations for awards.In this round‘s review, Hyundai Motor’s 2018 sustainability report was recognized in the digital and online criteria, and Kia Motors for sustainable management criteria. Both companies re
July 24, 2019
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‘Korea to promote forest to combat air pollution, increase well-being’
South Korea is suffering from worsening air pollution each year. Every spring, the concentrations of fine dust particles surge to record levels across the country, threatening human health and environmental sustainability.The state-run Korea Forest Service is seeking to deploy forests to combat air pollution, help people stay cooler during heat waves and increase well-being in nature. “The primary factor behind serious fine dust pollution is air pollutants from industrial complexes, therma
July 24, 2019
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South Korea strongly urges Japan to withdraw export restrictions, approaches WTO
In addition to raising the issue at the World Trade Organization’s General Council on Wednesday in Geneva, Switzerland, the South Korean government sent a strong opinion to the Japanese administration calling for the complete withdrawal of its export restrictions.In parallel, calls are also growing from global tech firms to urgently settle the trade dispute that may cause supply chain disruptions and impact the global economy. The Ministry of Trade, Industry and Energy said in a press brie
July 24, 2019
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Coupang faces service outage, all products ‘out of stock’ for hours
South Korea’s largest e-commerce retailer Coupang’s service froze for several hours on Wednesday morning showing all products “out of stock,” with customers unable to place orders or make payments.The outage on Coupang’s mobile application and website started at 7 a.m. Although customers could add items to their shopping cart they were unable to proceed with the order.Coupang attributed the problem to a technical glitch. While customers could start buying some
July 24, 2019
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Samsung Bioepis gains FDA approval for Humira biosimilar
Samsung Bioepis said Wednesday it has gained the US Food and Drug Administration’s approval for Hadlima, a biosimilar of AbbVie’s blockbuster autoimmune disease treatment Humira. This is the firm’s fourth biosimilar to get FDA approval, after Renflexis (Infliximab), Ontruzant (Trastuzumab) and Eticovo (Etanercept).Hadlima (adalimumab-bwwd) is developed by Samsung Bioepis and will be commercialized in the US by Merck from June 2023, according to a settlement with AbbVie.&nb
July 24, 2019
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Posco’s operating profit down 15% in Q2
South Korean steelmaker Posco posted an operating profit of 1 trillion won ($848 million) in the second quarter this year, buoyed by its lucrative infrastructure and trade operations despite the sluggish steel business, the firm said Tuesday. The company also posted 16.3 trillion won in sales, with a net profit of 681 billion won. Sales rose 1.5 percent, but operating profit and net income declined 14.7 percent and 14.7 percent on-year, respectively. The decline was mainly due to its sluggi
July 23, 2019
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Sale process of Asiana Airlines to begin this week
Creditors and Kumho Industrial, the largest stakeholder of Asiana Airlines, will post a public notice to sell the nation’s second-largest air carrier on Thursday, which is likely to be the largest deal of the year.After completing a financial review of the air carrier, creditors said they would speed up the bidding process, if no additional insolvent factors or problems that would complicate the company’s operations are found. Officials at Asiana Airlines confirmed that there’s
July 23, 2019
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Celltrion prepares for direct sales in Australia
Korean biopharmaceutical company Celltrion’s distribution arm Celltrion Healthcare said Tuesday that it has joined Australia’s Generic and Biosimilar Medicines Association to prepare for direct sales of its biosimilars Truxima and Herzuma in the country.Celltrion Group’s three main biosimilars -- Remsima, Truxima and Herzuma -- are currently estimated to be worth 330 billion won ($280 million) in the Australian market. Autoimmune diseases treatment Remsima was launched as Infle
July 23, 2019
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LG CNS teaches coding to young people
LG CNS will provide free coding training to elementary and middle school students from Tuesday at Sejong University as part of its corporate outreach, the company said Tuesday.The four-day, three-night “IT Dream Project” is LG CNS’ yearly summer project that began in 2017. LG CNS has so far provided the program to some 7,500 middle school students across 60 schools in Korea.“The advent of mandatory coding classes from elementary school has led to a market for costly priva
July 23, 2019
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Market analysts forecast retail industry sales dip in Q2
South Korea’s major retailers and e-commerce companies such as E-mart, Lotte Mart and Coupang are likely to see their sales and performance having deteriorated in the second quarter, according to market analysts on Tuesday.Stock analysts said Tuesday that the industry’s top discount store chain operator E-mart is highly likely to run into the red in the second quarter, recording about 4.7 billion won ($3.9 million), or up to 10.5 billion won, in losses from operations. “E
July 23, 2019
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[Herald Interview] Royal Salute goes younger with modern twist to lineup
It is no easy decision for a brand to abandon its original concept and transform a product lineup, especially when it comes to a luxury whisky.Royal Salute, whose distillery dates back to 1801, is best known for being the only scotch whisky in the world with a lineup that begins from 21 years of maturity. The Royal Salute 21 Year Old was launched in 1953 to commemorate the coronation of Queen Elizabeth II, named after the traditional 21-gun salute.Making a twist to its rich heritage, the br
July 22, 2019
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BAT Korea names first Korean CEO
British American Tobacco Group has named Kim Eui-soung, a cross-border industry marketing expert, as new chief executive officer and president of its South Korean unit, the company said Monday.Kim replaces Matthieu Juery who led BAT Korea for two years, becoming the first Korean head of the tobacco maker’s local unit launched 29 years ago. The change comes amid intensifying market competition in the fast-changing tobacco market here along with the rise of new types of cigarettes. BAT Korea
July 22, 2019