Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Yoon set for talks with Marcos in Philippines
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Korean bands get their day in the sun, finally
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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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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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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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Injured captain Son Heung-min dropped from nat'l team for World Cup qualifiers
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NCSoft developing voice command function for mobile games
NCSoft introduced three future technologies Friday at a media event in Gangnam, Seoul, saying it intends to unveil them by the end of this year. The company’s artificial intelligence center is currently developing hands-free voice command technology, a master server to unite all 160 servers of “LineageM,” and an “unconnected play” function that will allow game characters to remain active and keep developing even when players are offline. Media event for “LineageM” took place in Seoul on Friday.
Feb. 22, 2019
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Samsung, Hyundai Motor chiefs meet Modi at state lunch
The de facto heads of South Korea’s two biggest conglomerates met Indian Prime Minister Narendra Modi during a state lunch at Cheong Wa Dae, according to industry sources on Friday. Samsung Electronics Vice Chairman Lee Jae-yong and Hyundai Motor Group Executive Vice Chairman Chung Eui-sun attended the luncheon at the request of the Indian government to discuss their business operations in India. (Yonhap) (Yonhap)It was not immediately known what the Indian state leader hoped to discuss with th
Feb. 22, 2019
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Kepco reports first operating loss in six years
State-run electric utility company Korea Electric Power Corporation reported an operating loss in 2018 for the first time in six years, due mainly to rising fuel prices and the cost of buying power from its affiliates. Kepco posted an operating loss of 208 billion won ($184 million) last year, down from an operating profit of 4.9 trillion won the previous year, according to its regulatory filing on Friday. It reported sales of 60.6 trillion won, up from 59.8 trillion won last year. Last year, fu
Feb. 22, 2019
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Samsung frontloads new Galaxy releases in bid to revive sales
Samsung Electronics will roll out all its latest Galaxy gadgets including the foldable model within the first half of this year, a move seen as a strategy to restore its smartphone business revenue, according to industry sources Thursday. Preorders for the three models of the Galaxy S10 edition -- Galaxy S10e, Galaxy S10 and Galaxy S10+ -- will begin Monday for two weeks through the country’s three mobile carriers. The 5G model will be available for preorder starting March 22. Visitors look at
Feb. 21, 2019
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[News Focus] Local insurers weighed down by incoming audits, market downtrend
South Korea’s insurers are facing a rough year ahead as they have to deal with reinforced surveillance from financial regulators, while still struggling to find new growth drivers amid a dwindling market trend and stricter accounting requirements.Despite such mounting challenges, however, domestic insurance companies paid out higher dividends to shareholders earlier this year, rekindling controversy as to their management integrity. Financial Supervisory Service. (Yonhap)The Financial Supervisor
Feb. 21, 2019
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Korean bio firms wrangle over DTC regulatory sandbox
The South Korean government’s recent decision to temporarily deregulate direct-to-consumer genetic testing of serious diseases has evoked many complaints from unprepared genomics companies.On Feb. 11, the Trade Ministry announced a set of deregulatory measures which included bio firms’ DTC research for 13 previously-regulated serious diseases such as Parkinson’s, apoplexy, stomach cancer and more. Genetic testing enables healthy consumers to gain foresight of diseases they can potentially contra
Feb. 21, 2019
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[Monitor] Korea prepares grand budget scheme for new industries
South Korea has decided to spend some 3.5 trillion won ($3.11 billion won) to nurture eight leading industries such as smart farms, smart cities, financial technology, drones and electric vehicles in the latest 10-year plan. It will be spent on research and development of the industries. The total allocated budget marks an increase of 77.9 percent from last year.The plan was announced by Hong Nam-ki, the minister of economy and finance, at the central government complex in Seoul.(khnews@heraldco
Feb. 21, 2019
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[Newsmaker] Why would Chey leave SK Holdings board?
The reported departure of SK Group Chairman Chey Tae-won from the boardroom of the conglomerate’s holding company drew heated interest from the market on Thursday, with many viewing it as an effort to improve transparency in corporate governance. Some aggressive analysts also interpret the move as a prelude to more governance restructuring to raise SK Holdings’ stock value. According to local reports, Chey plans to leave the boardroom of SK Holdings and will have CEOs of other affiliates to do t
Feb. 21, 2019
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KAEMS to provide first maintenance for Boeing 737
Korea Aviation Engineering & Maintenance Service said Thursday it will begin providing aircraft maintenance for the Boeing 737. KAEMS, which is a service provider for aircraft maintenance, repair and operations, was jointly launched in July last year by Korea Aerospace Industries, Korea Airports Corporation, BNK Financial Group, Jeju Air and Eastar Jet. (Yonhap)The launch was designed to offer wider options for Korean aircrafts that depend on foreign companies for their maintenance. Korean airli
Feb. 21, 2019
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Hyundai Steel apologizes for worker’s death at plant
Hyundai-Steel on Thursday apologized for the death of its worker at its plant in Dangjin, South Chungcheong Province, which has repeatedly seen workplace accidents over the past decade. “We send our deep condolences to the victims and their families. We will do our best to cooperate with related organizations on the investigation and we take safety measures not to repeat this accident,” the firm said in a statement.(Yonhap)At 5:20 p.m. on Wednesday, a worker died after being caught in a coal con
Feb. 21, 2019
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[Weekender] Korean food industry falls in love with cheese
Only a few years ago, few could have imagined that gorgonzola cheese pizza would become one of Korea’s favorite dishes. Koreans’ recent enthrallment with cheese can be seen in the country’s annual cheese consumption. According to data from the Korea Agro-Fisheries and Food Trade Corporation, the country’s per capita consumption of cheese reached 2.5 kilograms last year, double that of a decade ago. Korea’s cheese production in the same period stood at 35,000 metric tons, up by 60 percent from ju
Feb. 21, 2019
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Sales of air fryers soar, beat sales of microwaves, ovens
Air fryers have been taking off in South Korea, beating sales of microwaves and electric ovens last year, industry data showed Thursday.According to online marketplace Auction, sales of air fryers on its website last year made up 38 percent of the kitchen appliances category, which includes microwaves, electric ovens and electric grills. Sales of air fryers made up around 2 percent of the category in 2014. Over the same period, the proportion of sales made up of microwaves, electric ovens and el
Feb. 21, 2019
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KT&G 2018 net falls 22% on weak exports
KT&G Corp., South Korea's dominant tobacco company, said Thursday its on-year net profit dropped 22 percent last year on decreased sales in overseas markets.Net profit for the whole of 2018 fell to 906.2 billion won ($805 million) from 1.16 trillion won a year earlier, the company said in a statement."The net result was affected by reduced exports to main markets, such as the Middle East and the Commonwealth of Independent States. Moreover, increased corporate taxes also weighed on the bottomlin
Feb. 21, 2019
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From fine dust app to unmanned barista, KT envisions everyday 5G use
As companies worldwide engage in a fierce battle to lead in the future generation of wirelss network, South Korean telecom giant KT on Wednesday suggested platforms that can leverage it for everyday life. During the event attended by Cabinet members and business leaders, the telecom giant showcased how the 5G network can be used for tracking and measuring fine dust, dealing with wide fires, and also serving the best coffee. Held at KT’s office in Gwacheon, Gyeonggi Province, the event offered
Feb. 20, 2019
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Iranian firm likely to seize assets of Korean firms amid dispute
An Iranian business group is seeking to seize the overseas assets of Korean firms after winning a suit against the South Korean government in an investor-state dispute case, according to the financial regulator Wednesday.Enterkhab, owned by Iran’s Mohammad Reza Dayyani, recently got international court approval at Rotterdam, the Netherland, to seize assets of Samsung Electronics, LG Electronics, KEB Hana Bank and others, according to officials.The compensation dispute between the Iranian company
Feb. 20, 2019
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FDA denies Medytox’s petition against Daewoong’s botulinum strain
The US Food and Drug Administration has denied a petition filed by South Korea’s Medytox demanding disclosure of the source of Daewoong Pharmaceutical’s botulinum toxin (BTX) strain used in Nabota, Daewoong said Wednesday, adding it will enter the US market without a change in plans. Nabota, or Jeuveau outside Korea, is an affordable alternative to Allergan’s Botox, and the first Korea-made frown-line treatment to enter the US. (Yonhap)In response, Medytox said it will continue to push forward w
Feb. 20, 2019
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Chong Kun Dang releases five new melting threads for facelift
Chong Kun Dang Pharmaceutical on Tuesday introduced five new melting threads for facelifts. The new “Silkroad” products are made with polydioxanone that dissolves in body six months after operation, the company explained. (Chong Kun Dang)Each of the five threads is intended for applications in different surgeries. Silkroad Mono is for various parts of the face; Silkroad Coil and Double-coil are for stimulation and regrowth of skin; Silkroad Nose is specially for nose surgeries; and Silkroade Con
Feb. 20, 2019
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Yuhan-Kimberly selected as most admired company for 16 years
Yuhan-Kimberly, South Korea’s leading sanitary product manufacturer, ranked fifth on a list of South Korea’s most admired companies, making it to the top 10 for 16 straight years, according to a survey released by Korea management Association Consulting this week. By segment, the company ranked first in terms of social value and first in household goods business, according to the survey of around 10,000 local consumers and professionals. Yuhan-Kimberly sanitary napkins, tissues and paper towels
Feb. 20, 2019
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LG Hausys showcases new premium surfaces at trade show
LG Hausys, which specializes in building and interior decor materials, unveiled new premium interior options at the Kitchen & Bath Industry Show on Tuesday in the US city of Las Vegas.The company displayed 16 new products at the show, including HI-MACS, a solid acrylic surface that boasts smooth curves; and Viatera, a quartz surface with a marblelike finish. LG Hausys’ booth at the Kitchen and Bath Industry show in Las Vegas this week (LG Hausys)The use of artificial marble is no longer restric
Feb. 20, 2019
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SK likely to overtake Hyundai as Korea’s 2nd-largest conglomerate
South Korea’s telecom-to-chip giant SK Group is close to taking the second spot from Hyundai Motor Group in the list of conglomerates by size of assets, a local corporate tracker suggested Wednesday, citing its large-scale investments. According to CEO Score, Samsung held 418.2 trillion won ($3.67 billion) in assets as of September last year, higher than the Korean government’s 2017 budget of 400.7 trillion won. It was the first time that the tech giant saw its assets surpass the 400 trillion wo
Feb. 20, 2019