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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SK Innovation’s trading unit to quadruple oil blending capacity
A trading unit of SK Innovation, which owns the country’s largest refiner SK Energy, will quadruple its offshore low-sulfur fuel supply in 2020 to meet the growing demand for diesel fuel with substantially lowered sulfur content under toughening emission control regulations, the company said Monday.SK Trading International plans to increase its oil blending capacity from 23,000 barrels per day to 90,000 barrels next year, aiming to become the No. 1 provider of low-sulfur fuel in Asia. The
July 8, 2019
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Japan’s export curbs cast cloud over HHI-DSME takeover
Amid the growing political and economic row between South Korea and Japan, Hyundai Heavy Industries faces fresh concerns over its decision to acquire Daewoo Shipbuilding & Marine Engineering as it needs to get approval from Japan’s regulators amid a widespread anti-Korean sentiment. After submitting a request for formal approval from Korea’s Fair Trade Commission early this month, HHI is slated to make similar requests to antitrust watchdogs in Japan, China, Kazakhstan and the Eu
July 8, 2019
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School Food enters Hong Kong with grab-and-go concept
South Korean food chain operator SF Innovation is officially launching its Korean food brand School Food in Hong Kong by opening a store in Tseung Kwan O, the company said Monday. The new store, the third of its kind in Hong Kong, will be located in Metro City Plaza and will showcase the grab-and-go food concept. Metro City Plaza is one of the largest shopping centers in the Tseung Kwan O area, run by Hong Kong’s real estate group Henderson Group.The company said it aims to offe
July 8, 2019
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[News Focus] Korea vitalizes redeveloping harbors on 3 sides
SEJONG -- Earlier this year, South Korea pledged to foster “smart harbors” across the country as part of a move in a variety of sectors preparing for the coming era of the “fourth industrial revolution.”The futuristic harbors will likely be equipped with state-of-the-art technologies such as artificial intelligence, the internet of things and robotics, according to the Ministry of Oceans and Fisheries.Officials said the project’s focus will be 31 harbors designated
July 8, 2019
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Philips Korea provides digitalized diagnosis system for Seoul St. Mary’s Hospital
Philips Korea, the local unit of Dutch health care giant Philips, said Monday it has been providing a digital pathology system that aids diagnosis of cancer for the Catholic University of Korea’s St. Mary’s Hospital since last month. The system, dubbed “Philips IntelliSite Pathology Solution,” allows the hospital’s pathology team to obtain accurate diagnosis results through a digitalized method. The team is able to manage patients’ tissue slides in the fo
July 8, 2019
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Samsung to release low-end Galaxy M20 in S. Korea
Samsung Electronics Co. said Monday it will release its Galaxy M20, a low-end smartphone, in South Korea to target budget costumers.The Galaxy M20 will go on sale via Samsung's online mall and other e-commerce marketplaces, including Gmarket and Auction, for 220,000 won ($187.30) on July 15. Ahead of its official launch, the unlocked smartphone will be sold on the local fashion online shopping mall Musinsa, Samsung said. The device has a 6.3-inch display with a minimum bezel and packs a du
July 8, 2019
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KEPCO to sell stakes in 2 affiliates to improve financial health
The Korea Electric Power Corp. plans to sell stakes in its two affiliates, officials at the state-run utility company said Monday, in a bid to improve its financial status.The two affiliates are KEPCO Engineering & Construction Co. and Korea Electric Power Industrial Development. In a report submitted to the US Securities and Exchange Commission in April, KEPCO said it plans to sell a 14.77 percent stake in KEPCO E&C and all of its shares in KEPID to pay off debts and enhance manag
July 8, 2019
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[Exclusive] LG’s health unit eyes acquisition of biopharma Hugel
LG Household & Health Care, an affiliate of LG Group that manufactures cosmetics and household goods, has considered acquiring South Korean botulinum toxin maker Hugel as part of efforts to expand its “cosmeceutical” business, sources told The Korea Herald on Sunday. The LG affiliate was seeking financial investors early this year to acquire the domestic biopharmaceutical firm, which is developing patch-type BTX, an innovative alternative to the conventional injection form of the
July 8, 2019
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Chaebol chiefs to meet Moon, top policymakers over Japan’s ‘chip moves’
Amid intensifying fears over Japan’s retaliatory moves against Korea, leaders of major South Korean conglomerates were invited to a private meeting with top policymakers on Sunday to discuss countermeasures, according to reports. Economy and Finance Minister Hong Nam-ki and Kim Sang-jo, presidential chief of staff for policy, were to meet Hyundai Motor Executive Vice Chairman Chung Euisun, SK Group Chairman Chey Tae-won and LG Group Chairman Koo Gwang-mo, Yonhap News Agency reported, citin
July 7, 2019
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Samsung Electronics VP heads to Japan amid export curbs on chips materials
Samsung Electronics Vice Chairman Lee Jae-yong traveled to Japan on Sunday, apparently to meet with local business leaders and discuss Seoul's response to Tokyo's retaliatory limits on exports of high-tech materials.Japan said last week it would tighten regulations on exports of materials used in chips and smartphone displays to South Korea amid a widening dispute over Koreans who were forced to work for Japanese companies during World War II. Samsung Electronics and other chipmakers are experie
July 7, 2019
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Hyundai E&C launches Caisson 227 at Singaporean reclamation site
Hyundai Engineering & Construction has successfully launched Caisson 227, a structure the size of a 12-story building that will play a critical role in Singapore’s Tuas Finger 3 reclamation project, the company said Sunday.A caisson is a hollow concrete structure that is used in the foundation of a bridge, breakwater or wharf. The 29-meter Caisson 227 will have its own 20,000-ton floating dock, increasing construction efficiency, Hyundai E&C said.The launch of Caisson 227 signals m
July 7, 2019
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Korea No. 12 in world GDP rankings: World Bank
South Korea ranked 12th out of 205 countries in terms of gross domestic product in 2018, maintaining its spot from a year earlier, the World Bank said Sunday. The country’s gross national income, or earnings per person, came in at No. 30 in the world. The World Bank data showed Korea’s GDP in the cited period amounted to $1.6 trillion. Korea had ranked 14th between 2009 and 2013 before climbing a notch to No. 13 in 2015 and reaching No. 11 in 2015 and 2016. The country then sli
July 7, 2019
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[Going Renewable (5)] South Korea faces solar power dilemma
The Korea Herald is publishing a series of articles on the quest of South Korea’s government and businesses to switch to renewable energy. -- Ed.Solar energy is among the keys in the Moon Jae-in administration’s push for renewable energy in response to concerns about life-threatening air pollution and demand for cleaner and safer energy. In December 2017, the government announced “Renewable Energy 2030,” aiming to increase renewable energy’s share of generation capa
July 7, 2019
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Korea embarks on W160b project to develop disruptive technologies
The South Korean government has embarked on a 160 billion won ($136 million) project to develop disruptive technologies, including technologies to produce electric vehicles capable of traveling more than 600 kilometers after just one minute of charging, officials said Sunday.The seven-year project, called “Alchemist,” is a follow-up to the “manufacturing renaissance” vision and strategy announced by the Industry Ministry in June. It will cover six categories of products,
July 7, 2019
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KRX to consider delisting original developer of disputed drug Invossa
South Korea’s main bourse operator Korea Exchange (KRX) has designated Kolon TissueGene, original developer of the recently invalidated joint inflammation treatment Invossa, as a potential delisting target, officials said Friday.“A screening committee will be held within 15 working days (by July 26) to decide whether to delist (the company) or to grant a grace period for improvement,” KRX said in a public statement.Kolon TissueGene, the US affiliate of Kolon Life Science, went
July 5, 2019
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LG Electronics Q2 operating earnings down 15.4% on downbeat mobile biz
LG Electronics Inc. said Friday its second-quarter operating profits are expected to have dropped 15.4 percent from a year earlier, mainly due to its sluggish smartphone business.In an earnings guidance, the South Korean electronics maker said it expects to post 652.2 billion won ($557 million) in operating profits in the April-June period -- far below the average market expectation of around 774 billion won.Its sales are expected to be 15.6 trillion won in the second quarter, a 4.1 percent surg
July 5, 2019
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Samsung Electronics' Q2 earnings more than halve on weak memory chips
Samsung Electronics Co. said Friday its operating earnings more than halved in the second quarter from a year earlier amid the weak memory chip and handset market. The operating profit was estimated at 6.5 trillion won ($5.6 billion) in the April-June period, a 56.3 percent drop from a year ago, according to its earnings guidance. The Korean tech giant expected its overall sales to have fallen 4.2 percent on-year to 56 trillion won in the three-month period. The figures were above mar
July 5, 2019
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[Newsmaker] Hanmi shares plummet after Janssen ceases clinical research
Hanmi Pharmaceutical shares nose-dived nearly 30 percent Thursday, following news that Johnson & Johnson subsidiary Janssen Pharmaceuticals has decided to return development and global commercialization rights of Hanmi’s diabetes treatment. Hanmi shares closed at 301,500 won ($258), down 27.26 percent or 113,000 won from a day earlier. Janssen, based in Belgium, had inked a license agreement for Hanmi’s investigational drug HM12525A in November 2015, for which Hanmi receive
July 4, 2019
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Kolon Life Science apologizes for Invossa mislabeling, but insists drug was safe
The chief of Kolon Life Science on Thursday reiterated the safety of the now-banned joint inflammation treatment Invossa, while apologizing for the market confusion and credibility depreciation. “As top representative, I deeply apologize on behalf of the company for causing worries and confusion to patients, investors and the medical circles,” said KLS CEO Lee Woo-suk in a press conference held at the Korea Press Center in downtown Seoul. The disputed mislabeling of the substance in
July 4, 2019
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Apple to take voluntary action to correct unfair practices in Korea
Apple has offered to take voluntary action to correct its business practices in the local telecom market, South Korea’s top antitrust watchdog said Thursday, after having previously accused the tech company of abusing its superior position and harming local mobile carriers. Apple applied for a consent order June 4, the Fair Trade Commission said, meaning the company has initiated a process to close a case early by voluntarily agreeing to take corrective action to restore order to the marke
July 4, 2019