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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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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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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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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'Will AI steal my job?' Koreans among nationalities feeling most threatened by AI
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Seoul seeks to nurture bio-health as growth driver
South Korea will seek ways to turn the bio-health industry into one of the country's key growth drivers, the finance ministry said Wednesday.The government will soon release packages of measures that focus on supporting research and development activities at bio-health companies, offering tax benefits and easing related regulations, Economy and Finance Minister Hong Nam-ki said in a meeting with officials and industry figures in Seoul. "If we capitalize on our advanced (information and communica
May 15, 2019
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DJI releases selfie-mode action cam
Drone company DJI announced its first action camera Osmo Action on Wednesday equipped with a 3.5-centimeter front screen which makes “vlogging and selfies much easier.” “The action cam market is shifting. Previously, the target users were people passionate about outdoor sports. But now, there are more users whose dream is to run a one-person media, or who habitually record their daily life,” said Senior Communications Manager Suk Gee-hyun, underscoring the benefits of Osmo Action’s selfie-mode f
May 15, 2019
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Thailand pulls out all stops to nurture startups
By Kim Ji-hyun Headquarters of the Digital Economy Promotion Agency in Bangkok, Thailand. / Park Ga-youngBANGKOK -- The startup scene in Thailand is far from thriving, but industry watchers believe the next five to 10 years will bring pivotal changes to the Southeast Asian nation. “Thailand is literally a gold mine for new opportunities,” Jayden Kang, executive director of Line’s startup investment program ScaleUp, told The Korea Herald during a recent interview in Bangkok, just a week after th
May 15, 2019
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Korea’s top 500 companies list welcomes 38 new players
A list of South Korea’s top 500 companies ranked by revenue saw major shifts last year, with companies in the top 10 trading places and 38 companies newly entering the list, data released Wednesday showed. According to local corporate tracker CEO Score, Samsung Electronics retained the No. 1 spot and Hyundai Motor No. 2. Meanwhile, Posco came in at No. 3, bumping LG Electronics down to No. 4.At the same time, chipmaker SK hynix and oil refiner GS Caltex became new entrants to the top 10, buoyed
May 15, 2019
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Antitrust watchdog designates new LG, Doosan, Hanjin heads
The Korea Fair Trade Commission designated younger leaders of LG, Doosan and Hanjin as new heads of the conglomerates on Wednesday to replace their fathers who recently passed away. Every May, the FTC announces an updated list of conglomerates with assets more than 5 trillion won ($4.2 billion) and the owners of the groups, for the purpose of regulating large companies. LG Group’s head position was changed to Koo Kwang-mo, 41, who takes the place of his late father, former Chairman Koo Bon-moo.
May 15, 2019
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Incheon Airport MRO complex likely to be established soon
A pending bill for establishing an aviation maintenance, repair and overhaul complex at Incheon Airport is expected to be passed by the National Assembly soon, reports said Wednesday, which will fuel progress in the long-awaited project. Incheon International Airport Corp., which operates the nation’s key air hub, has been seeking for nearly a year to build an MRO cluster near the airport in Yeongjong-do. It is expected to attract local and foreign companies related to aviation maintenance and f
May 15, 2019
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GS holds Value Creation Forum to promote innovation
GS Group Chairman Huh Chang-soo on Wednesday opened the GS Value Creation Forum with a speech celebrating the forum’s 10th edition. He also urged for the group’s continued growth in light of new technologies and business models. “The GS Value Creation Forum has always been a platform for us to share our success stories, and GS Group is where it is today because we accept change and innovation as central forces for development,” the chairman said.Some 300 executives and staff of GS affiliates att
May 15, 2019
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Korea makes list of non-EU countries with EU pharma quality standards
South Korea has been added to the European Commission’s list of countries outside the European Union whose pharmaceutical ingredients and products meet the manufacturing and regulatory standards of the trading bloc, according to the Food and Drug Safety Ministry.The listing certifies that Korea’s good manufacturing practices comply with the EU’s GMP regulations. (Yonhap)Countries on the list are exempted from the requirement to submit written confirmation from local regulators that their GMP st
May 15, 2019
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Government to allow 5 new duty-free shops in major cities
The government decided on Tuesday to allow large local retailers to open five new duty-free shops in major cities including Seoul as part of efforts to spur domestic consumption and promote the tourism industry, the finance ministry said. Under the decision made after a relevant committee meeting earlier in the day, the government will issue licenses to local retail conglomerates to open three duty-free outlets in Seoul, one in Incheon, west of Seoul, and one in the southwestern metropolitan cit
May 14, 2019
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Orion’s Turtle Chips named best puffed snack in China
Korean confectionary firm Orion said Tuesday its Turtle Chips was given the Best Puffed Foods Award at the annual Food and Beverage Innovation Forum held in Hangzhou, China.The crispy snack with its distinctive four-layered plates was among 17 food items recognized with the Hello Foods Prize at FBIF -- one of the leading food and beverage industry conference in the Asia-Pacific region. The prize is given to innovative products selected by 17 judges in the FBIF committee. Chinese version of Turtl
May 14, 2019
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[Newsmaker] Trump thanks Lotte chief for job creation in rare meeting
Lotte Group Chairman Shin Dong-bin became the first South Korean conglomerate leader to meet US President Donald Trump at the White House since he assumed office, where the two discussed business investments and job creation, the company said Tuesday.The meeting, which was held at the firm’s request, took place during Shin’s visit to the US to attend the completion ceremony of Lotte Chemical’s ethane cracking center in Louisiana last week. The meeting on Monday was attended by US National Securi
May 14, 2019
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Lotte invests cumulative $4 bln in US
Lotte Group, South Korea's retail-to-chemicals conglomerate, has been accelerating its move to tap deeper into the United States, the world's largest economy, with its cumulative investments reaching some US$4 billion in production facilities and other areas, industry sources said Tuesday.In its latest investment, Lotte Chemical Corp., the group's chemicals unit, completed the construction of the $3.1 billion ethylene plant in Lake Charles, Louisiana. Lotte owns an 88 percent stake in the projec
May 14, 2019
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Lotte chief meets Trump at White House after plant opening
Lotte Group Chairman Shin Dong-bin met with US President Donald Trump at the White House on Monday, becoming the first South Korean conglomerate leader to have such a meeting.Shin was in the US to attend a ceremony marking the completion of a 3.6 trillion-won ($3.1 billion) ethylene plant built by Lotte's chemicals arm in Louisiana.Lotte Chemical Corp. holds a 88 percent stake in the project, with its US partner, Westlake Chemical Corp., owning the rest. (Yonhap)"Great to welcome Chairman Shin f
May 14, 2019
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Antitrust chief leaves for Colombia for competition conference
South Korea‘s antitrust chief left for Colombia on Monday for an international conference on competition, the Fair Trade Commission said. Kim Sang-jo will attend the International Competition Network annual conference in Cartagena, Colombia, from Wednesday to Friday, according to the commission. Korea`s FTC Chairman Kim Sang-jo (Yonhap) The Colombian Superintendence of Industry and Commerce said that discussions will focus on strategies related to digital economy, innovation, market definitions
May 13, 2019
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Dongkuk Steel to inject $150m into Brazilian steel mill
Dongkuk Steel Mill Co., South Korea‘s third-largest steelmaker, said Monday it will inject US$150 million over the next three years into a Brazilian steel mill that it owns a stake in to help improve its financial standing. Dongkuk Steel owns a 30-percent share in Companhia Siderurgica do Pecem steel mill, while South Korea’s leading steelmaker, POSCO, and Brazil-based mining giants Vale S.A. have 20-percent and 50-percent shares, respectively, in CSP. The two other investors will spend money i
May 13, 2019
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FAO opens liaison office in S. Korea
The U.N. Food and Agriculture Organization opened a liaison office in South Korea on Monday to play a greater role in global food-related projects and promote global movements against famine and poverty. The office will center on rolling out joint projects to cope with poverty and food security issues, along with sharing agricultural know-how with developing countries, according to the Ministry of Agriculture, Food and Rural Affairs. “The ministry and the FAO started discussing opening the offi
May 13, 2019
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CheongKwanJang brand promoted at Asia’s largest duty-free exhibition
Korea Ginseng Corp. said Monday it was participating in the 2019 TFWA World Exhibition and Conference being held in Singapore until this Thursday, to make further advances in the overseas duty-free markets with its ginseng products.The exhibition is Asia’s largest duty-free exposition hosted by the Tax Free World Association, bringing together famous brands and duty-free operators worldwide. CheongKwanJang brand zone at 2019 TFWA World Exhibition and Conference (KGC)KGC has been taking part in t
May 13, 2019
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Gaming tech forum ‘Unreal Summit 2019’ to kick off
Epic Games’ annual technology sharing forum “Unreal Summit 2019” is set to kick off at InterContinental Grand Seoul Parnas in Gangnam, southern Seoul, organizers said Monday.The North Carolina-based US game company’s CEO Tim Sweeney will deliver the keynote address at the event’s launch Tuesday.Epic Games is the developer of “Fortnite,” which launched in 2017 and has since amassed almost 250 million players worldwide as of March. It is the powerhouse behind the global No.1 game developing softwa
May 13, 2019
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South Korea’s exports shrink for fifth straight month
South Korea’s exports declined for the fifth consecutive month in May, dragged down by a prolonged trade war between the world’s two largest economies -- US and China-- and a fall in chip shipments. According to the Korea Customs Service on Monday, exports in the first 10 days of the month dropped by 6.4 percent to $13 billion from the same period last year, posting a trade deficit of $2.1 billion. Exports have been declining since December. (Yonhap)By segment, semiconductor exports fell 31.8 pe
May 13, 2019
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Thailand pulls out all stops to nurture startups
BANGKOK -- The startup scene in Thailand is far from thriving, but industry watchers believe the next five to 10 years will bring pivotal changes to the Southeast Asian nation. Digital Econom Promotion Agency headquarters in Bangkok, ThailandThe Investor“Thailand is literally a gold mine for new opportunities,” Jayden Kang, executive director of Line’s startup investment program ScaleUp, told The Investor during a recent interview in Bangkok, just a week after the king’s coronation. Line has a h
May 13, 2019