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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Daewoo E&C ramps up security with next-gen system
South Korea’s leading construction firm, Daewoo Engineering and Construction, said Wednesday that it has upgraded its five-zone security system, dubbed the 5ZSS, as part of its strategy for the new Prugio apartment complexes.In line with the firm’s five-zone clean air system, or 5ZCS, which filters out fine dust, the newly upgraded 5ZSS takes a systematic approach to crime and accident prevention by using advanced technologies tailored for each of an apartment complex’s five zo
June 26, 2019
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Korean Air plants trees in Mongolian desert
South Korea’s largest air carrier by fleet size, Korean Air said Wednesday the company has planted 5,000 maple trees in a Mongolian desert located in Baganuur to fight regional desertification.Two hundred people including executives of Korean Air, staff of US carrier Delta Air Lines and local residents participated in the Global Planting Project that ran May 13-16, the company said. Delta Air’s participation was meaningful as it also marked the first anniversary of a joint venture be
June 26, 2019
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New CEO Hussain Al-Qahtani spearheads S-Oil’s leap
Amid growing expectations about the future business of oil refineries in South Korea, the new chief of the local refining company S-Oil is expected to play a leading role in implementing its growth strategy aimed at enhancing profitability.S-Oil CEO Hussain Al-Qahtani, whose term started June 13, has begun overseeing major company work, to be marked by the inauguration ceremony of the S-Oil Onsan Refinery in Ulsan on Wednesday. The state-of-the-art facility houses a residue upgrading complex and
June 26, 2019
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Glimpse into S-Oil’s RUC/ODC project
S-Oil is slated to hold an inauguration ceremony Wednesday to celebrate the successful completion and beginning of operations of its residue upgrading complex and olefin downstream complex, or RUC and ODC, built at a cost of 5 trillion won ($4.3 billion). The RUC/ODC project, which began operations in November last year, relies on low-value residue oil as feedstock to produce high-value petrochemical products. “We believe increased production capacity of high-value products through th
June 26, 2019
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S-Oil broadens horizons with preeminent chemicals projects
South Korea’s leading oil refiner S-Oil is getting closer to its “Vision 2025,” in which it aspires to become the most competitive and admired energy and chemical company in the Asia-Pacific region. It is swiftly responding to rapid changes in the business environment brought on by the shale boom and emergence of electric vehicles. S-Oil, founded in 1976, has delivered phenomenal growth since Saudi Aramco’s investment in 1991 as the largest shareholder. Its crude refining
June 26, 2019
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Samsung heir prepares for meeting with Saudi prince
Samsung Electronics Vice Chairman Lee Jae-yong is preparing for a meeting with the crown prince of Saudi Arabia by checking out Samsung affiliates’ projects in the Middle East, the company said Tuesday. Lee, as the de facto leader of the biggest conglomerate in South Korea, is expected to attend a luncheon hosted by President Moon Jae-in for Crown Prince Mohammed bin Salman at Cheong Wa Dae on Wednesday. The Samsung heir on Monday held meetings with the heads of Samsung Engineering a
June 25, 2019
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Is video games tax coming down the pike?
The World Health Organization’s adoption of the classification of gaming disorder as a clinical condition has cast ripples across the worldwide gaming industry since May.The pushback continued in Seoul on Tuesday, with a committee opposing the disorder’s domestic adoption hosting an emergency press conference to criticize the tens of billions of won in government budget thus far assigned to research aimed to “prove” the side effects of video gaming. They accused the gover
June 25, 2019
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Lotte Food launches Vietnam-only baby formula Nubone
Lotte Food said Monday that it had launched a new brand of baby formula called Nubone in Vietnam and clinched a sales contract with Viet Australia for distribution there. Nubone is an export-only product aimed at children age 6 and under and will be sold exclusively in Vietnam. The product has been manufactured through Lotte’s Syn-Biotics system, which adds both pro-biotics and pre-biotics to aid the baby’s digestion and growth, the company said.The products will be export
June 24, 2019
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TV ad featuring No. 4 OTC drug Ursa draws flak
Daewoong Pharmaceutical’s liver pill Ursa is under fire for an allegedly misleading TV commercial. Daewoong on Monday denied accusations brought by a doctors’ group called the Barun Medicine Institute, saying that it was a coincidence that the TV commercial in question had ceased to air. For future commercials, the company plans to remove a controversial line that purports the efficacy of Ursa for liver patients. A Daewoong representative told The Korea Herald this is being done to a
June 24, 2019
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Korean consortium wins UAE nuclear reactor maintenance bid
A South Korean consortium led by state-run Korea Hydro & Nuclear Power has secured a five-year maintenance deal for the United Arab Emirates’ first nuclear power station, ending a long bidding process that began late last year. The Barakah Nuclear Power Plant is being built by a consortium which includes the Korea Electric Power Corp., KHNP, Doosan Heavy Industries & Construction, Hyundai Engineering & Construction and Samsung C&T Corp.Initially, it was expected that the co
June 24, 2019
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‘Merck Young Supporters’ campaign launches in Korea
Merck, a global pharmaceuticals company with a corporate history spanning 350 years, has launched a student ambassadors campaign titled “Merck Young Supporters” in Korea, the company said Monday. The five-month program offers 16 selected university students the opportunity to develop their interests in life science industry issues and promote Merck’s brand image in the process, Merck said. “Through the ‘Merck Young Supporters’ campaign, Merck is pioneeri
June 24, 2019
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Naver most popular workplace among college students: survey
South Korean college students find Naver the most desirable company to work in, a survey showed Monday.According to the survey of 929 college students, conducted by job search portal Incruit, Naver topped 121 companies with 7.4 percent of respondents choosing it, followed by CJ ENM with 7.2 percent and Samsung Electronics with 6.2 percent.Naver had also ranked first on the list in 2015 and 2016. Meanwhile, SK hynix was included among the top 10 firms for the first time, with 4.4 percent of
June 24, 2019
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Hanjin KAL extends losses following Delta's investment
Shares in Hanjin KAL, the holding company of Hanjin Group, continued to extend losses Monday as investors who bet on the firm's escalating battle with a local activist fund are offloading them, analysts said.Investors are selling Hanjin KAL, the parent company of Korean Air Lines Co., as the battle between Hanjin KAL and the Korea Corporate Governance Improvement seems to be over and KCGI's 16 percent stake in Hanjin KAL could serve as an overhang, they said. "Hanjin KAL may undergo a furth
June 24, 2019
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Moon’s new policy aide vows to promote fair economy, income-driven policy
President Moon Jae-in’s new secretary for policy, who earned the nickname “chaebol sniper” for his decadelong shareholder activism, vowed to keep his stance of promoting income-led growth, innovation and a fair economy. At a farewell meeting as chief of Fair Trade Commission, Kim Sang-jo told reporters he is open to dialogue with conglomerate chiefs while drawing a clear line saying that incumbent Finance Minister Hong Nam-ki will keep his role as control tower on economic poli
June 23, 2019
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[Behind the Brand: 2] Tous Les Jours, Innisfree: Why do so many Korean brands have foreign words?
Thanks to the unconscious cultural assumption that foreign equals luxurious, foreign languages have long played a major role in the South Korean business world and influenced branding decisions accordingly. This strategy is known as foreign branding -- companies make their products or brands sound exotic to enhance their perceived value and make them more marketable. There are also cases where brand names are derived from foreign words even in the absence of a clear foreign branding strategy. Lo
June 23, 2019
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Hyundai Motor ad on hearing-impaired taxi drivers wins Silver Lion at Cannes
Hyundai Motor Group’s “The Quiet Taxi” commercial won the Silver Lion at the 2019 Cannes Lions International Festival of Creativity, the group said Sunday. Global advertisement agency Innocean Worldwide produced the film, with Jeremy Craigen as the chief creative officer.Touted as the world’s biggest celebration of creative advertisements, the 66th Cannes Lions took place in France from June 17 through Friday. Over 30,000 commercials from 89 countries competed.The award-w
June 23, 2019
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Son of former Hanbo Group chief extradited after 21 years as fugitive
A son of Chung Tae-soo, former head of the now-defunct Hanbo Group, was extradited to South Korea on Saturday, following his discovery in Panama 21 years after he fled a corruption probe, prosecutors said. Chung Han-keun, 54, was recently captured in Panama. In 1998, he fled the probe into allegations that he embezzled 32.2 billion won ($27.6 million) from a subsidiary of Hanbo Group and stashed it in a secret Switzerland-based bank account. Upon arrival at Incheon International Airport, Chung r
June 22, 2019
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Vietnam to cooperate for S. Korean firms' participation in infrastructure projects
South Korea said Friday that it has agreed with Vietnam to cooperate to ensure that South Korean companies can participate in large-scale infrastructure projects in the emerging Southeast Asian country.The agreement was reached between Hong Nam-ki, the minister of economy and finance, and Vietnam's Deputy Prime Minister Vuong Dinh Hue at a Seoul hotel.Hue is in Seoul for the first talks between the deputy prime ministers of the two countries, an arrangement set up following last year's state vis
June 21, 2019
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Delta Air Lines acquires 4.3% of Korean Air
US air carrier Delta Air Lines announced Thursday that it has acquired 4.3 percent of the shares of Hanjin KAL, the holding company of Korea’s largest air carrier Korean Air, in an apparent move to defend its joint venture and the ownership family’s management. Delta Air Lines said its indirect investment in the Korean air carrier demonstrates its commitment to the success of their joint venture and to customer benefits. It said it also aims to increase its equity stake to
June 21, 2019
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Vietnam to slap anti-dumping duties on S. Korean pre-coated metal products
Vietnam will impose anti-dumping duties on pre-coated metal products from South Korea, industry sources said Friday. According to the source, Vietnam's trade ministry will temporarily levy stiff import duties on the products from three South Korean companies starting Tuesday.Posco, South Korea's top steelmaker, will be subject to 19.25 percent anti-dumping duties, while Dongkuk Steel Mill Co. and Dongbu Steel Co. will face 18.08 percent and 4.46 percent tariffs, respectively. Such tariff r
June 21, 2019