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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Herald forum calls for ‘manufacturing renaissance’ innovation
The 2019 Herald Business 氣 UP Forum on Monday called for bold innovations in the manufacturing and service sectors, and business buoyance through the governmental regulatory sandbox. South Korean Prime Minister Lee Nak-yeon and Herald Corp. CEO Kwon Chung-won gave welcoming remarks at the forum that was held at the Korea Chamber of Commerce and Industry.This is the third year the Herald Business, a Korea Herald sister company, is holding the 氣 UP Forum. The name is a play on words that construct
June 17, 2019
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Cryptocurrency exchanges change their terms of service: FTC
Five cryptocurrency exchanges have changed their terms of service in a way that they can be liable for problems caused by potential cyberattacks or system malfunctions, even if operators are not willfully or grossly negligent, South Korea's antitrust regulator said Monday. The Fair Trade Commission said Bithumb and four other cryptocurrency exchanges made the changes after receiving the corrective recommendation from the FTC in April last year.The cryptocurrency exchanges had said in their terms
June 17, 2019
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Health care, cosmetics sectors enjoy sharp export surge in 2018
South Korea's health care and cosmetics exports surged to $14.6 billion last year, helped by solid demand, the Ministry of Health and Welfare said Monday.Outbound shipments of drugs, medical equipment and makeup products jumped 19.4 percent from the previous year, with the annual average growth rate for the past five years hitting 21 percent, according to the ministry. Of the total, cosmetics accounted for $6.3 billion followed by drugs and medical equipment at $4.7 billion and $3.6 billion, res
June 17, 2019
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Mirae Asset Global sells prime office building in Germany
Mirae Asset Global Investments, a local asset manager, said Monday that it has earned about 160 billion won ($135 million) in profit through the sale of a premium office building in Germany.The asset management unit of Mirae Asset Financial Group has signed a deal to sell Taunusanlage 8, a prime office building located in Frankfurt, for 400 million euros ($449 million), the company said in a press release. Having acquired the building in 2017 for 280 million euros through a private equity f
June 17, 2019
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McDonald’s Korea to recruit 120 admin managers nationwide
McDonald’s Korea said Monday that it is recruiting 120 administrative managers who will work at its some 420 restaurants nationwide.According to the fast-food chain, applicants will go through the document screening, interview and practical assessment in a restaurant environment. Successful candidates will take training course as trainees and will be dispatched to stores from August. The new managers will be given opportunities for promotion to general manager of the store or regional
June 17, 2019
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LG CNS, Microsoft to develop cloud-based business platform
LG CNS, the information technology services unit of South Korea’s LG Group, said Sunday it will work with Microsoft to develop advanced business platforms to improve its working environment. The company said that it has signed a memorandum of understanding with Microsoft to develop cloud-based business platforms. The agreement was reached on Friday at Microsoft’s Asia-Pacific headquarters in Singapore. The new platforms are designed to incorporate Microsoft’s advanced softwa
June 16, 2019
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Forum to discuss future of forestry, challenges in APAC
South Korea is hosting events on forestry in the Asia-Pacific region this week for academia, governments and the private sector to discuss and share views on pressing challenges in the sector.The Asia-Pacific Forestry Week 2019 and the 28th Session of the Asia-Pacific Forestry Commission kicked off Monday at the Songdo Convensia Convention Center in Incheon. The five-day event is jointly organized by the Korea Forest Service and the Food and Agriculture Organization of the United Nations. I
June 16, 2019
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Samsung vice chairman urges bold investment for future business
Samsung Electronics Vice Chairman Lee Jae-yong has called for senior executives to spur efforts to develop innovative technologies to tackle rising business challenges and foster new growth drivers, the company said Sunday. Lee, the de facto leader of the South Korean tech giant, held a meeting with senior executives of the IT and mobile division at the Suwon headquarters, south of Seoul, on Friday to discuss global strategies, the company said. The global strategy meeting, which is held t
June 16, 2019
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APFW to look into forestry in future, address need for global efforts
The fundamental role of forestry in mitigating climate change and natural disasters, and its potential to create jobs and promote regional peace will be highlighted at a gathering of Asia-Pacific forest experts and officials taking place in South Korea this week. Ko Ki-yeon, the director general of International Affairs Bureau at the Korea Forest Service, told The Korea Herald that regional efforts on redefining forests and forestry would be discussed at the Asia-Pacific Forestry Week 2019
June 16, 2019
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Renault Samsung workers OK wage deal, ending monthslong dispute
Unionized workers at Renault Samsung Motors Corp. voted for a wage deal on Friday, ending a monthslong dispute at the automaker plagued by output losses and helping it secure production volume for exports.In a vote over the wage deal, 74 percent of Renault Samsung's 2,063 workers cast ballots for the revised wage and collective agreement after the first tentative deal was rejected by the union last month, Renault Samsung said in a statement.The revised deal includes a "joint declaration for
June 15, 2019
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Foreign pharmaceutical firm to invest $630 mln in S. Korea: Cheong Wa Dae
A global pharmaceutical company announced a plan Friday to invest $630 million in South Koreaover the coming five years, participating in a "business summit" held here on the occasion of President Moon Jae-in's state visit, his office said.Moon joined the South Korea-Sweden Business Summit at a downtown hotel, along with King Carl XVI Gustaf, Prime Minister Stefan Lofven and hundreds of businesspeople from the two sides.They included Leif Johansson, chairman of AstraZeneca, a Swedish-B
June 15, 2019
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S. Korean refiners closely monitoring tanker attacks in Gulf of Oman
South Korean oil refiners said Friday they're closely monitoring the potential fallout from the recent tanker attacks in the Gulf of Oman, a key waterway for oil transport from the Middle East, although they don't expect to see any significant problems in oil supplies. Global crude oil prices jumped as much as 4 percent before settling about 2 percent higher Thursday following the news that two tankers had been attacked near the entrance to the Strait of Hormuz, a crucial shipping route fo
June 14, 2019
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Samsung BioLogics apologizes for destructing evidence of alleged fraud
Samsung BioLogics on Friday apologized for the destruction of evidence related to alleged accounting fraud involving its affiliate Samsung Bioepis. Samsung BioLogics and Samsung Bioepis said in a joint statement, “We deeply regret the unsavory circumstances resulting from disgraceful acts such as the destruction of evidence.” “We feel gravely responsible for the arrest of our officials and the subsequent difficulties in management,” they added. “In order to prevent
June 14, 2019
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US sharply cuts tariffs on Korean-made hot-rolled steel: sources
The US Department of Commerce has decided to slash its tariffs on hot-rolled steel products from South Korean steelmakers, industry sources said Friday.According to the sources, the US government recently decided to cut the countervailing duty on hot-rolled steel sheets produced by POSCO from 41.57 percent to 0.55 percent after its annual review. The US commerce department originally imposed a 58.86 percent CVD on POSCO's hot-rolled steel in 2016. But the US Court of International Tr
June 14, 2019
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Homeplus net plummets in 2018 on slump, increased costs
South Korean hypermarket chain operator Homeplus Co. said Friday its net income nose-dived 96 percent on-year last year due to a slump in the offline retail business and increased costs. Net profit reached 3 billion won ($2.6 million) during the fiscal 2018 that ends March 31 on a consolidated basis, compared with 234 billion won during the same period a year earlier, the company said in a regulatory filing. Homeplus said its operating income shrank 57.59 percent on-year to 109 billion won, with
June 14, 2019
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Kia Motors to shut down plant in China on low demand
Kia Motors Corp., South Korea's second-biggest carmaker by sales, said Friday it will shut down one of its three plants in China this month due to a slump in sales in the world's top auto market. The assembly line in Yancheng, Jiangsu Province, will be used by Kia's local business partner Dongfeng Yueda in a long-term lease contract, a company spokesman said. The carmaker plans to produce vehicles such as the Sportage sport utility vehicle and the localized KX7 SUV at the plant until the end of
June 14, 2019
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Korea, Norway to cooperate on hydrogen, shipbuilding
South Korea and Norway have agreed to strengthen ties in hydrogen energy and shipbuilding areas with the summit between the two countries’ heads of state serving as an opportunity to pursue future partnerships. During President Moon Jae-in’s visit to Norway on Thursday, the two nations signed a memorandum of understanding to cooperate in hydrogen energy to make the most of Korea’s strength in hydrogen-powered vehicles and Norway’s in production and supply capabilities.Wit
June 13, 2019
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S-Oil appoints Hussain Al-Qahtani new CEO
South Korean oil refiner S-Oil appointed Hussain A. Al-Qahtani as new CEO during its general shareholders meeting, the firm said Thursday. Before joining the firm, Al-Qahtani, 52, served as president and CEO of Saudi Aramco Shell Refinery Company from 2016. Throughout his 29-year career at Saudi Aramco, Al-Qahtani has assumed key roles in production, engineering and projects building expertise and leadership skills, according to the firm. The new Saudi Arabian CEO majored in chemical engine
June 13, 2019
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Top IP offices forge patent cooperation system in ‘Industry 4.0’ era
INCHEON -- The world’s top five intellectual property offices have agreed on cooperation to improve the global patent system in step with technological changes brought by the “fourth industrial revolution,” the Korean Intellectual Property Office said Thursday.The annual gathering of IP5, which kicked off Tuesday in Songdo, Incheon, under KIPO’s chairmanship, came to an end Thursday after three days of deputy- and head-level conferences, business roundtables and individua
June 13, 2019
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GC Pharma launches company in US
GC Pharma and affiliate GC LabCell said Thursday they have jointly established a cell therapy development company called Artiva Biotherapeutics. Artiva Biotherapeutics was launched in March in San Diego, the US, with GC Pharma and GC LabCell holding 56.67 percent and 37.77 percent stakes, respectively. “This research and development body is to globalize the cell treatment being developed centering on GC LabCell,” a representative from GC Pharma said.Artiva Biotherapeutics will focus
June 13, 2019