Most Popular
-
1
Military aircraft evacuating S. Koreans in Lebanon returns home
-
2
Yoon set for talks with Marcos in Philippines
-
3
Korean bands get their day in the sun, finally
-
4
Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
-
5
2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
-
6
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
7
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
8
Firefighters’ 3,000 won meals spark nutrition concerns
-
9
From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
-
10
Injured captain Son Heung-min dropped from nat'l team for World Cup qualifiers
-
NPS to actively intervene in management of Hanjin KAL
South Korea’s state pension fund said Friday it had decided to actively exercise its shareholder rights over Hanjin KAL, the holding company of the nation’s No.1 carrier Korean Air.The National Pension Service added however, drew the line at Hanjin KAL, saying that it will not be extending the appliance of the stewardship code or active involvement in management of Korean Air.Hanjin KAL will be the first case in which the NPS’ stewardship code will be applied. The code is a set of guidelines on
Feb. 1, 2019
-
Homeplus to convert all 12,000 contract workers to regular positions
South Korean discount chain Homeplus said Friday it will grant permanent full-time employment status to all of its some 12,000 contract workers at 124 stores.The exact date when their status will be changed has not been confirmed, as it requires discussions with the labor union, the company said. It is the first attempt in the industry to grant contract workers permanent-employment positions.According to Homeplus, the company has been discussing the minimum wage with its labor union. Both sides
Feb. 1, 2019
-
Bodyfriend to open flagship store in Paris
South Korean health-and-wellness company Bodyfriend is tapping into the European market with the opening of a flagship store in Paris, the company said Friday.The firm has opened flagship stores in the US and China. The 660-square-meter store in Paris will be located in a building on Boulevard Haussmann, an area known for luxury shops. Prior to the opening, the company will run a pop-up store at the Bon Marche department store for two months from Feb. 23. High-end massage chairs, such as the Lam
Feb. 1, 2019
-
AmorePacific 2018 net falls 16% on low demand, costs
AmorePacific Corp., South Korea's dominant cosmetics company, said Thursday its net profit fell 16 percent in 2018 from a year earlier on weak domestic demand and one-off costs.Last year, net profit fell to 334.8 billion won ($307 million) from 398 billion won in 2017 due to fierce competition from rivals and increased labor costs, the company said in a statement. In 2019, the company aims to achieve a 24 percent growth in operating profit and a 10 percent sales growth by putting greater fo
Jan. 31, 2019
-
[Weekender] Startup innovation can solve Korea’s quagmire of aging society
A key hurdle the Korean economy faces is the fast-aging population. One way to coax a soft-landing of this problem is to speed up deregulation so that local startups can carry out innovation and improve productivity, according to Startup Alliance Korea Managing Director Lim Jung-wook. “Considering how fast South Korea is aging, we really should have a sense of urgency. Instead of spending too much time and energy fighting superficial issues such as whether or not to allow carpoo
Jan. 31, 2019
-
[Weekender] Pinning fresh hopes on ‘sandbox’ phenomenon
It’s far from perfect, but South Korea’s latest adoption of a regulatory sandbox may provide some relief to the country’s startups, according to the head of one of the largest and oldest startup associations. “Urging member companies to utilize the regulatory sandbox is one of our priorities for this year,” Korea Startup Forum chief Choi Sung-jin said during a recent interview with The Korea Herald. KSF is a three-year-old organization that represents 650
Jan. 31, 2019
-
KDB undertakes DSME selloff, signs temporary deal with Hyundai Heavy
The state-run Korea Development Bank said Thursday that it had signed a conditional memorandum of understanding on Hyundai Heavy Industries’ acquisition of Daewoo Shipbuilding & Marine Engineering.While KDB is also to check the intention of Samsung Heavy Industries, the third of South Korea’s so-called “Big Three,” the latest deal was seen as putting industry frontrunner HHI in a highly favorable position to take over the cash-strapped DSME and secure market monopoly.“KDB has signed today a cond
Jan. 31, 2019
-
[Eye Plus] Royal attire, art of exquisite handicraft and powerful symbols
Throughout various dynasties, Korea’s royals considered their garments not as functional daily necessities but rather as symbols of authority and expressions of courtesy, as well as the highest level of contemporary craftsmanship.“When it comes to royal and noble attire, every detail was designed to reveal the wearer’s social rank and power at a single glance,” said Choi Jeong, professor at Wonkwang University’s Department of Fashion Design and Apparel Industry.“This is why we need to refer to a
Jan. 31, 2019
-
[Weekender] Korea, always in search of the next unicorn
One of the Moon Jae-in administration’s primary goals has been to create jobs and rejuvenate the economy. However, failing to gain momentum, the nation’s conventional growth engines, such as semiconductors, smartphones, and auto businesses are sputtering, while the unemployment rate has hit record lows.Since it looks like these industries aren’t likely to get back on track soon, the government has turned its eyes toward startups, hoping that the industry will be a spark to bolster the cooling ec
Jan. 31, 2019
-
[Weekender] How long can the startup boom cycle last?
South Korea is riding the global trend of high liquidity in the startup scene. Money is pouring into the sector, and investors are looking for the next big thing to invest in. However, concerns linger that the upcycle is being maintained by government spending, and not a real appetite for startups. In 2018, venture capital investment surged 43.9 percent on-year to 3.4 trillion won ($3 billion), according to latest data by the Ministry of SMEs and Startups. However, of that amount, 20 percent a
Jan. 31, 2019
-
Netmarble joins Nexon bidding war
South Korea’s leading game developer Netmarble confirmed Thursday it will participate in the bidding for fellow industry giant Nexon, as industry watchers forecast a tense battle potentially involving China’s largest gaming company, Tencent. “We have decided to form a consortium centered on South Korean capital and participate in the bidding,” Netmarble said in a statement.“The decision was made over concerns of the risk of damage that could be inflicted on the gaming industry along with possibl
Jan. 31, 2019
-
Pernod Ricard strives for business recovery despite labor resistance
Struggling for a breakthrough in the unfavorable whiskey industry in South Korea, Pernod Ricard Korea has been pushing to downsize and restructure, including plans for the sale of a local brand and an early retirement program.The local unit of the French beverage company Pernod Ricard currently runs two corporate bodies here: Pernod Ricard Korea that sells imported brands such as Ballantine’s, Absolut and Royal Salute; and Pernod Ricard Korea Imperial that sells local whiskey brand Imperial. Ami
Jan. 31, 2019
-
aT targets ASEAN market with agricultural exports
Representatives of Korea Agro-Fisheries & Food Trade Corporation (aT) and the Ministry of Agriculture, Food and Rural Affairs gathered at the aT Center in Seoul on Tuesday, along with domestic producers of agricultural goods, to discuss strategies for the ASEAN region. The meeting, called the New Southern Export Expansion Strategic Conference, was a chance for companies to share business know-how and plan the future direction of Korean agricultural exports to ASEAN countries. aT and MAFRA host t
Jan. 31, 2019
-
KDB set to announce privatization of Daewoo Shipbuilding
The state-run Korea Development Bank said Thursday that it will announce later in the day whether to sell its stake in Daewoo Shipbuilding & Marine Engineering Co., the country's No. 2 shipyard, to its bigger rival Hyundai Heavy Industries Co.On Wednesday, Hyundai Heavy, also the world's No. 1 shipbuilder, expressed its intent to buy a majority stake in Daewoo Shipbuilding. (Yonhap)KDB is Daewoo Shipbuilding's main creditor bank that owns a 55.7 percent stake.If the takeover goes ahead, the Sout
Jan. 31, 2019
-
Samsung to focus on non-memory chip, foundry biz for its growth: top executive
Lee Jae-yong, vice chairman of Samsung Electronics Co., said Wednesday that the tech giant will focus on nurturing the non-memory chip and foundry business as part of its new growth engine.(Yonhap)Lee made the remark during his meeting with Hong Young-pyo, floor leader of the ruling Democratic Party (DP) and others at the company's production line in Hwaseong, some 60 kilometers south of Seoul."There have been always crises, but we will overcome them through consistent innovation," Lee, Samsung'
Jan. 30, 2019
-
[Advertorial] Eximbank employees volunteer at soup kitchen
The Export-Import Bank of Korea said Wednesday that its employees had taken part in a volunteer activity near Seoul Station on Tuesday, handing out food to people in need to mark the beginning of the Lunar New Year.Some 30 members of the Eximbank volunteer team helped distribute food to homeless people and performed other chores at a local soup kitchen. Eun Sung-soo (right), chairman and president of Korea Eximbank, and bank employees hand out food for the homeless at a soup kitchen near Seoul S
Jan. 30, 2019
-
Samsung founder’s eldest daughter dies at 90
Lee In-hee, an adviser to Hansol Group and the eldest daughter of Samsung Group founder Lee Byung-chull, died of an illness Wednesday. She was 90. Born in 1929, Lee was the eldest daughter of Lee Byung-chull, who has three sons and five daughters. Her younger brothers are Samsung Chairman Lee Kun-hee, late CJ Group Honorary Chairman Lee Maeng-hee, who died in 2015, and late Saehan Media Chairman Lee Chang-hee, who died in 1991. (Yonhap)Lee joined Hotel Shilla in 1979 as a permanent executive, w
Jan. 30, 2019
-
Nexon’s future in doubt as Kakao mulls bid for gaming company
South Korea’s top chat app operator Kakao has confirmed that it is reviewing a bid for gaming company, Nexon, but a rumored rival bid from Chinese gaming giant Tencent could prove stiff competition. Kakao said the company was reviewing the possibility of taking part in the bid for NXC Corp., the holding company that controls Nexon. NXC Corp. founder Kim Jung-jo is widely reported to have decided to sell his 98.64 percent stake. “There has been much internal discussion on the matter,” Kakao spo
Jan. 30, 2019
-
Posco posts W5tr in operating profit for 2018, up 20%
Steelmaker Posco’s operating profit surpassed 5 trillion won ($4.4 billion) for the first time in seven years due mainly to record-high profits from its overseas arms in Indonesia and India, according to a regulatory filing Wednesday. Posco said it posted 64.9 trillion won in sales, 5.5 trillion won in operating profit and 1.8 trillion won in net profit last year. Its sales rose 7.1 percent and its operating profit jumped 19.9 percent on-year. (Yonhap)The growth was mainly driven by record-high
Jan. 30, 2019
-
Hyosung hosts MIT industrial liaison program
South Korean conglomerate Hyosung Corp. hosted a seminar with academics and researchers from the Massachusetts Institute of Technology in an effort to seek new business models, according to the firm Wednesday. On Tuesday, MIT professors and six global startups visited Seoul to participate in the MIT industrial liaison program seminar hosted by Hyosung. The program is designed to support global companies and MIT academics in building business partnerships. Through the program, MIT introduces its
Jan. 30, 2019