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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Hanjin strikes back at activist shareholder demanding reforms
Hanjin Group on Wednesday opposed Korea Corporate Governance Improvement’s qualification to exercise shareholder rights, in a move to counter its recent string of criticisms and demands on corporate governance and transparency.The Korean conglomerate, which operates the country’s leading air carrier Korean Air, claimed that KCGI was only a minority shareholder and had no grounds to make such demands.(Korean Air`s official Facebook account)“According to the commercial act on special cases for lis
Feb. 20, 2019
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Mobile carriers urged to minimize 5G service fees
With South Korea gearing up for the commercial launch of 5G services this March, mobile carriers are facing pressure from consumer activists to minimize prices. During a meeting organized at the National Assembly with government officials and consumer activists, participants said while the mobile carriers have invested heavily in building their 5G networks, the cost could be offset by an increase in the total number of subscriptions. Some also recommended a new pricing system for non-data serv
Feb. 19, 2019
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Korean mobile carriers marry 5G and VR games
Korean mobile carriers are eyeing virtual reality games as near-future game changers in the fifth-generation environment.While global mobile manufacturers are rushing to unveil their next-generation smartphones at Mobile World Congress 2019 -- to take place from Monday to Thursday in Barcelona, Spain, next week -- Korean network services have announced that they will use the opportunity to unveil new VR games alongside their 5G services. SK Telecom(SK Telecom)SK Telecom, the biggest mobile carri
Feb. 19, 2019
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Digital advertising revenue tops W4tr, surpasses broadcast ads
Advertising expenditure on digital platforms rose to over 4 trillion won ($3.55 billion) in 2018, surpassing the amount spent on broadcast ads for the first time, data showed Tuesday.Samsung-owned advertising agency Cheil Worldwide’s data on Tuesday showed that the total advertising spending in Korea marked an on-year growth of 4.6 percent to 11.18 trillion won in 2018. Analysts credited international sporting events such as the PyeongChang Olympics and Asian Games as chief market growth drivers
Feb. 19, 2019
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[Advertorial] LG Chem paves way to be global industry leader
LG Chem has introduced new sales and investment goals for five of its core business areas in hopes of earning a spot in the global top 5 in the industry by 2025. It is the first Korean company to have been selected as one of the top 10 companies in C&EN’s Global Top 50 chemical companies of 2018, published by American Chemical Society. LG Chem plans on increasing its sales this year by 14.5 percent to 32 trillion won (US$28.37 billion) to further advance its standing in the industry. Officials
Feb. 19, 2019
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Airlines raise fuel surcharges on int'l routes in March
South Korean airlines said Tuesday they have raised their fuel surcharges on international routes for next month to reflect rising oil prices.Local airlines currently charge fuel surcharges of up to 19,200 won ($17) for one-way travel tickets on long-haul routes. The one-way travel fuel surcharges on international routes will rise to 34,800 won starting in March, airline officials said. (Yonhap)Airlines impose fuel surcharges on customers that increase every time the average jet fuel price on th
Feb. 19, 2019
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Mobile wars to escalate in gaming world
With the anticipated launch of 5G network services, South Korea’s major game companies are bracing for a full-on mobile war with new lineups. The upcoming games can be enjoyed at full capacity on 5G networks with less latency and maximized gaming experience with faster connectivity, according to developers.The major firms in the spotlight are Nexon, the biggest Korean game company on sale, as well as Netmarble, the second-biggest company that seeks to acquire the former.NCSoft, which owns the ma
Feb. 18, 2019
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SK Telecom seeks to acquire Korea’s No. 2 cable TV operator
Following telecom LG Uplus’ decision to acquire South Korea’s largest cable TV operator last week, the country’s biggest mobile carrier, SK Telecom, is planning to take over the country’s second-biggest cable TV operator, amid growing competition in the local pay TV market. According to industry sources here Monday, SK Telecom is seeking to have its internet service subsidiary, SK Broadband, merge with cable TV operator Tbroad. The company is owned by local conglomerate Taekwang Group. While
Feb. 18, 2019
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Will US-led offensive against Huawei present dilemma for Korea?
With the United States continuing to warn its European allies against deploying equipment from China’s Huawei, debate is taking place over the 5G race among South Korean telco companies and how the government should respond.The Trump administration is seeking to prevent US companies from using Chinese telecom equipment to establish fifth-generation networks and is pressuring its allied countries to do the same, saying Huawei Technologies Co. and ZTE Corp. are under orders from the Chinese govern
Feb. 18, 2019
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Korean duty-free sales from Chinese shoppers undented by Beijing’s crackdown
Lotte Duty Free, Korea’s largest duty-free operator, saw a solid sales growth last month led by Chinese shoppers despite Beijing’s introduction of a new e-commerce law, according to latest data on Feb. 18.The law targets Chinese traders known as “daigou,” who make overseas purchases for resale in the mainland. Chinese authorities are clamping down on the practice of proxy purchasing, subjecting it to registration and tax payments since Jan. 1. (Yonhap)The goal is to increase online sales via cro
Feb. 18, 2019
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LSIS named leading global IPR innovator
LS Industrial Systems, a South Korean power and energy solution provider, was named one of the world’s 100 most innovative companies regarding intellectual property rights by Clarivate Analytics, a consulting group formerly owned by Thomson Reuters. The company made the list for the eighth straight year. LG Electronics and Samsung Electronics also made the list. (LSIS)LSIS was one of the three energy companies along with Exxon Mobil of US and Total of France included in the list of the world’s
Feb. 18, 2019
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Workers oppose Hyundai Heavy-DSME merger plan
The merger plan between Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering is facing opposition from workers of the two firms, who say it would lead to possible technology leaks and restructuring. A labor union of Daewoo Shipbuilding & Marine Engineering said Monday it has started voting on whether to go on a strike over the acquisition by Hyundai Heavy Industries. (Yonhap)The voting involves 5,611 workers at its shipbuilding plants in Okpo, a neighborhood in the city of Geoje
Feb. 18, 2019
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Ediya Coffee to inject W350m into its first coffee roastery
South Korean coffee chain Ediya Coffee will inject 350 million won ($311,291) to establish a coffee bean roastery that can produce up to 6,000 tons of coffee beans annually, the company said Monday.The roastery, called the Ediya Coffee Dream Factory, will be the company’s first coffee production facility since it was established in 2004. The roastery will be built on 12,982 square meters in Pyeongtaek, Gyeonggi Province. The factory will have environmentally friendly roastery facilities equipped
Feb. 18, 2019
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Korea to spend 2.93t won to develop bio tech in 2019
South Korea will spend 2.93 trillion won ($2.61 billion) this year to develop new bio technology, as part of efforts to become the leading industrial hub, the government said MondayThe 2019 biotech support budget, which received a 2.9 percent increase from a year earlier, aims to develop critical medical sectors, such as genomes and brain science, the Ministry of Science and ICT said. (Yonhap)The plan was finalized during a government meeting presided over by ICT Minister Yoo Young-min earlier i
Feb. 18, 2019
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KCS seeks lead in ‘smart customs’ with next-gen tech
The Korea Customs Service, the body in charge of clearing all goods that enter and leave South Korea, is out to become a leader in “smart customs” systems powered by next-generation technologies.The KCS continues to improve its automated customs administration solution, UNI-PASS, which has so far been exported to 13 countries and is spreading Korea’s high-tech customs management know-how around the world, it said.With UNI-PASS as its anchor, the customs service provider will work to establish a
Feb. 17, 2019
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[Herald Interview] ‘4th industrial revolution’ technologies now crucial for customs clearance
The global trade volume has expanded at a drastic pace over recent years on the back of e-commerce growth, but has also led to increasing abuse of simplified customs procedures.Responding to such a market reality, it is inevitable that customs offices should fundamentally innovate their administrative systems with key technologies of the “fourth industrial revolution,” according to the head of the information bureau at South Korea’s customs agency.“It is now time that customs administrations ado
Feb. 17, 2019
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APMA hosts contemporary art exhibition
The Amorepacific Museum of Art in Yongsan, Seoul, will host an exhibition showcasing some 40 contemporary art pieces until May 19.The exhibition, titled “APMA, Chapter One -- from the APMA Collection,” will fill eight exhibition halls and include a range of art genres, from painting and photography to sculpture and media arts. Notable pieces in the exhibition include “Love” by American pop artist Robert Indiana, which was also installed on Manhattan’s 55th street in New York City. And local inst
Feb. 17, 2019
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Chiefs of Korea’s top 10 conglomerates to reap record high dividends for 2018
The chiefs of South Korea’s top 10 conglomerates are expected to collect record-high dividends for 2018 on the back of generous dividend payouts from the listed companies, according to data from corporate market tracker Chaebul.com on Sunday.Together, the heads of Korea’s 10 biggest family-owned conglomerates are poised to earn about 757.2 billion won ($670 million) in dividends for the fiscal year of 2018. This marks a 42.4 percent rise from 531.8 billion won in dividends they collected in 2017
Feb. 17, 2019
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[Photo News] Build colors
Cosmetic products are showcased at a pilot shop for Shinsegae Group’s new cosmetic brand Stone Brick in the Hongik University area in Seoul, Sunday. Stone Brick products come in containers that can be stacked on top of one another. Upon its launch, Stone Brick introduced 95 lip colors. (Yonhap) (Yonhap)
Feb. 17, 2019
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LG CNS, AWS to accelerate corporate data migration to cloud
LG CNS said Sunday it has signed an agreement with Amazon Web Services for strategic cooperation to accelerate data cloud migration by companies here.The two will collaborate in developing a program for businesses here to move their corporate data to the cloud in a faster and easier way, it said. “We will work closely with LG CNS to help accelerate adoption of cloud services among Korean customers, and help them to enjoy the full benefits of digitization,” said Ed Lenta, managing director of AWS
Feb. 17, 2019