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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Samsung expects full-blown 8K competition from 2020
It’s the course of nature for the TV industry to continue developing bigger screens with higher resolutions, according to Han Jong-hee, Samsung Electronics’ president of visual display business. The tech giant said it will meet consumer demand for bigger screens and higher resolution through its two-track strategy of quantum-dot light-emitting diode TV and micro-liquid crystal displays. Han Jong-hee, Samsung Electronics’ president of visual display business (Samsung Electronics)This year, Samsun
Feb. 10, 2019
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Hyundai Glovis opens new office in Vladivostok
Hyundai Glovis, a logistics unit of South Korean auto giant Hyundai Motor Group, said Friday it has opened an office in Vladivostok as it moves to expand its presence in Russia‘s far eastern region. The new office will act as a bridgehead, as the city is located at the western end of the Trans-Siberian Railway that connects Russia from east to west. (Yonhap) It is Hyundai Glovis’ third office in Russia, following ones set up in Saint Petersburg and Moscow. The company said it aims to use the n
Feb. 8, 2019
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Growth rate of drugstores in Korea slows
The number of newly opened health-and-beauty shops in Korea increased 7.7 percent on-year in 2018, a much slower pace than that of recent years, according to data compiled by industry insiders. The number of newly opened drugstores in Korea had surged between 30 and 40 percent yearly from 2015 to 2017. However, last year’s single-digit growth appears to indicate that the market has reached saturation, industry insiders said. (Yonhap)The number of Lalavla stores operated by GS Retail even decrea
Feb. 8, 2019
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Samsung Heavy Industries mulls KDB’s offer of DSME acquisition
Samsung Heavy Industries is reviewing a letter from the Korea Development Bank asking Samsung’s shipbuilding arm to consider acquiring ailing ship maker Daewoo Shipbuilding & Marine Engineering, the company said Friday.KDB is the largest shareholder of DSME and has been accelerating efforts to sell the company to other Korean shipbuilders. “Although it is true the management is discussing the matter, now is not the time to disclose the direction of the review,” said an official from Samsung Heav
Feb. 8, 2019
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NPS to request Namyang Dairy to expand dividend payouts to investors
South Korea’s state pension fund has decided to exercise its shareholder rights over Namyang Dairy, a major dairy producer here, by pushing the firm to increase its dividend payouts to investors. The National Pension Service, the country’s biggest institutional investor, on Thursday said it will formally ask Namyang Dairy to establish an independent committee for dividend policies and regulatory disclosures.The move comes amid mounting criticism that the dairy firm has been paying small dividend
Feb. 8, 2019
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LG Uplus fined W3.1b for tax evasion
South Korean mobile carrier LG Uplus will face hefty fines issued by the nation’s tax authority for not paying value-added tax for some of its smartphone sales, according to the firm Friday. The National Tax Service recently imposed a fine of 3.1 billion won ($2.7 million) on the firm for not paying value-added tax in the process of selling smartphones to US forces in Korea over five years since 2013. (Yonhap)The 3.1 billion won fine is only for the year 2013, and the penalty is expected to be
Feb. 8, 2019
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Some W200b worth of telecom mileage points lost in 6 years: lawmaker
Mobile subscribers in South Korea have lost nearly 200 billion won ($178 million) worth of mileage points accumulated over six years, a lawmaker said Thursday, as many consumers remain uninformed on how to redeem benefits. Citing a report from the Ministry of Science and ICT, Rep. Noh Woong-rae of the ruling Democratic Party of Korea noted that mileage points worth 190.5 billion won had gone down the drain since 2013 because subscribers failed to use the benefits in time. Provided as a perk to
Feb. 7, 2019
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KT plans to expand overseas network to improve Netflix connection
Korea’s major telecom and internet provider KT is seeking to expand its overseas network to improve internet connection for subscribers of Netflix, as an increasing number of domestic subscribers are suffering from poor video quality amid the surge in users. According to industry sources, KT is planning to ratchet up its network capacity by the month-end. The firm declined to comment on exactly when the project will be completed and increase in capacity. KT There are mounting complaints by Ne
Feb. 7, 2019
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Fashion goods popular for relieving holiday stress: survey
Four in 10 married South Koreans said they would like to receive gifts related to fashion from their spouse to relieve holiday stress, a survey showed Thursday.According to the survey conducted by an online shopping site Auction, 71 percent of some 500 respondents said they wish to give a present for their spouse who worked hard over the holiday to prepare for family gatherings and traditional rituals. (Yonhap)Fashion gifts including clothing, bags and jewelry took up 39 percent, being the most
Feb. 7, 2019
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Daewoong Pharma stocks fluctuate upon Nabota’s FDA approval
Daewoong Pharma stocks fluctuated Thursday upon market opening following reports during the Lunar New Year holiday that its botulinum toxin drug Nabota has gained approval from the US Food and Drug Administration. When the market opened at 9 a.m. its shares jumped 10,000 won ($9) to 203,000 won from 193,000 won during the previous session. It quickly fell back to the 190,000 won range, and the price continued to fluctuate through the day before finishing at 204,000 won at market close, up 5.7 pe
Feb. 7, 2019
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[Herald Interview] Netmarble eyes growing business in Thailand
BANGKOK, Thailand -- There’s a reason why Korean game makers are foraying into Thailand. The Southeast Asian nation’s game market is currently valued at 500 billion won ($445 million), with an annual growth rate of 20 to 30 percent indicating strong buying power. Netmarble Thailand accounts for 3 percent of the total annual revenue of Netmarble, one of the early Korean pioneers in the Thai market. The Korean games company recorded 2.4 trillion won in revenue in 2017. “The figure should b
Feb. 7, 2019
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[Going Renewable (1)] Korea steps in right direction for renewable energy, but challenges await
The Korea Herald is publishing a series of articles looking into the South Korean government and businesses quest toward renewable energy. -- Ed.One year on since the Moon administration vowed to put more emphasis on renewable energy, it still has to address controversy over energy prices and its decision to do away with nuclear power, as well as conflicts with residents near renewable energy facilities. In December 2017, the government announced “Renewable Energy 3020,” aiming to increase renew
Feb. 7, 2019
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Budweiser releases new slogan: King of Beers
US beer brand Budweiser recently released a TV commercial touting itself as the “King of Beers,” Korean distributor Oriental Brewery said.The advertisement features close-up shots of the beer and its logo, as well as the slogans “The King is Here” and “King of Beers,” with an inverted beer cap resembling a crown. The campaign aims to highlight the smooth and clean taste of Budweiser lager and emphasize its worldwide brand value, the company said.(OB)The commercial encourages consumers to be conf
Feb. 7, 2019
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[Photo News] Transparent screen
LG Electronics’ transparent organic light-emitting diode signage is introduced at Europe’s biggest commercial screen event, Integrated Systems Europe 2019, in Amsterdam, the Netherlands. LG’s see-through screens serve various functions, such as digital windows, mirrors and touch-screen panels. The ISE 2019 runs from Tuesday through Friday. (LG Electronics)
Feb. 6, 2019
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Refiners' weak earnings may continue into Q1
South Korean refiners, led by SK Innovation Co., may see their weak earnings continue into the current quarter due to a sharp falloff in oil prices and a narrowing refining margin, industry sources said Tuesday.SK Innovation, the No. 1 player, and other refiners, including GS-Caltex Corp. and S-Oil Corp., reported weaker-than-expected earnings in the fourth quarter of last year due to narrowed margins from their refining business.A drop in oil prices leads to a rise in valuation losses of their
Feb. 5, 2019
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Hyundai Oilbank to import 2m barrels of Iranian condensate in Feb.
Hyundai Oilbank Co., a major South Korean refiner, plans to import 2 million barrels of Iranian condensate this month, a person familiar with the issue said Monday.It would be Hyundai Oilbank’s first imports of ultralight crude since September, two months before the United States imposed the most biting sanctions ever on Iran. US President Donald Trump abandoned a landmark 2015 nuclear deal with Iran in May.(AFP)Still, the US has allowed South Korea and seven other countries to continue to buy I
Feb. 4, 2019
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No more holiday traffic jam? Korean tech giants introduce traffic predictions
Starting from Friday, South Korea braced itself for one of the biggest annual movements of people nationwide as many head to their hometowns for Lunar New Year celebrations next week. According to the Ministry of Land, Infrastructure and Transport, some 49 million people are expected to hit the road during the holiday that lasts until Wednesday. Traveling from Busan to Seoul by car, for example, would take more than eight hours when people head home on Tuesday afternoon. Traffic is congested in
Feb. 2, 2019
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Viral children's song 'Baby Shark' faces lawsuit as it hits Billboard chart
The South Korean children's song "Baby Shark" made history as part of the Korean Wave, or "hallyu," by charting on Billboard's most competitive Hot 100 list as the first non-pop Korean song.For the week of Feb. 2, "Baby Shark" came in 36th place on the Hot 100, stepping up one notch from a week earlier.It was the fourth week in a row that the simple viral song remained on the main Billboard song chart after debuting at 32nd in the second week of January.Captured image from Baby Shark music video
Feb. 2, 2019
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Yuhan Corp. taps new head of Yuhan USA
South Korean pharmaceutical company Yuhan said Friday that it had tapped its research center head as a new chief of its US subsidiary Yuhan USA. The company said Choi Soon-kyu would lead Yuhan USA, making full use of his experience in developing new medicines and exporting technologies. Choi has worked at multinational companies including German pharmaceutical company Bayer and PTC therapeautics. Seoul-based Yuhan established a wholly owned subsidiary in the US, named Yuhan USA, in San Diego in
Feb. 1, 2019
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Business leaders express worries over NPS’ Hanjin intervention
South Korea’s business leaders on Friday expressed concerns over the National Pension Service’s decision to actively exercise its shareholder rights over Hanjin KAL, claiming that it could dampen corporate activities. “If the NPS decides to actively exercise shareholder rights (on Hanjin KAL), this would be the first such case to be applied on a private firm,” the Federation of Korean Industries said in a statement. (Yonhap)“We have concerns that the NPS’ decision to intervene in the firm’s mana
Feb. 1, 2019