Most Popular
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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BTS-themed moon jar to be unveiled on Hangeul Day
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Market uncertain on Korea's October rate cut despite slowed inflation
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Special counsel bill to probe first lady scrapped
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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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Korea reports 8.5% rise in suicide rate
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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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GS E&C wins bridge construction deal in Myanmar
South Korean builder GS Engineering & Construction has won a construction deal in Yangon, the biggest city and former capital of Myanmar, the firm said Wednesday. The project involves building the Korea-Myanmar Friendship Bridge, which is financed by the Economic Development Cooperation Fund. The fund was set up to promote economic cooperation between South Korea and developing countries.According to GS E&C, it received a letter of acceptance from Myanmar’s Construction Ministry last week for th
Dec. 19, 2018
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Fresh food deliveries, shoppers in 60s major e-commerce trends in 2018: data
Fresh food deliveries, a rise in the number of shoppers in their 60s and e-mobility were among the five keywords that summarize this year’s e-commerce shopping trends, e-commerce company Interpark said Wednesday. According to data compiled by Interpark based on online sales and opinions from its merchandisers, fresh food deliveries have become common services for online shoppers in the past year, mainly due to quick delivery services.Market Kurly, for instance, saw the rapid expansion of its bus
Dec. 19, 2018
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South Korea-China trade volume rises to pre-THAAD levels
South Korea’s trade volume with China reached $247.3 billion in the first 11 months of this year, rising to the level reached before a diplomatic row over the deployment of an anti-missile system here took a toll on trade between the two countries, government data showed Wednesday.Korea’s No. 1 export and import market has been China since the South Korea-China free trade agreement was inked in December 2015, accounting for roughly 25 percent of Korea’s trade turnover and about twice the volume
Dec. 19, 2018
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SK hynix breaks ground for new production line in Korea
South Korea's No. 2 chipmaker, SK hynix Inc., on Wednesday held a groundbreaking ceremony for a new chip production line that is expected to commence operations in October 2020.The M16 production line, located in Icheon, 80 kilometers southeast of Seoul, will be built on a 53,000-square meter lot. SK Hynix Inc. holds groundbreaking ceremony for new chip productin line, Dec. 19(Yonhap)While the new line is set to produce dynamic random-access memory chips, SK hynix said its production capacities
Dec. 19, 2018
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[Herald Interview] Korea needs to change ways of reforming chaebol: FTC chief
It is easy to misread Kim Sang-jo, the chairman of the Fair Trade Commission, who is well known as an erudite economist and a passionate anti-chaebol activist. Ever since he was named to head the nation’s top watchdog in June 2017, views have clashed between those that forewarned an end to the heyday of South Korea’s conglomerates and those that impugned whether the “chaebol sniper” would live up to his nickname. Halfway through his three-year tenure, Kim has completed the exhausting task of con
Dec. 18, 2018
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LG opens food science lab
LG Electronics said Tuesday that it has opened a new research lab dedicated to food science and technology within its research and development center in Changwon, South Gyeongsang Province.LG’s food researchers will work at the 630-square-meter lab and study food preservation and processing, kimchi fermentation and related areas, the company said. An LG Electronics researcher looks through a temperature-controlled microscope at the company’s food science lab in Changwon, South Gyeongsang Provinc
Dec. 18, 2018
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7-Eleven steps closer to full acquisition of Ministop Korea
South Korean retail giant Lotte Group’s convenience store chain 7-Eleven is likely to be picked as a preferred bidder for the full acquisition of Ministop Korea, industry sources said Tuesday. According to industry insiders, Ministop Korea’s selloff manager, Nomura Securities, was to announce a preferred bidder later Tuesday. Along with Lotte, Shinsegae and Seoul-based Glenwood Private Equity submitted bid proposals last month. 7-Eleven suggested the highest bidding price of 430 billion won (380
Dec. 18, 2018
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[Photo News] Samsung Signage in Istanbul
Samsung Electronics announced Tuesday it recently finished installing more than 700 sets of liquid crystal display and light-emitting diode signage at the New Istanbul Airport in Turkey. The combined surface area of the LED displays reaches 1,012 square meters -- the largest such area to be installed at an airport in the world, the company said.(Yonhap)By Korea Herald (khnews@heraldcorp.com)
Dec. 18, 2018
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Korean shipyards almost sweep LNG ship orders
South Korean shipbuilders have bagged over 80 percent of new orders placed around the globe this year to build liquefied natural gas carriers, industry data showed Tuesday.According to the data, Korean shipyards clinched new orders to build 56 LNG carriers in total, which is 86 percent of total new orders placed globally so far this year to construct 65 such ships. (Yonhap)By shipbuilder, Hyundai Heavy Industries Co., the world's top shipyard, has clinched deals to build 25 LNG ships this year.
Dec. 18, 2018
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Korea vows to upgrade key industrial sectors
South Korea's industry ministry pledged Tuesday to bolster efforts to upgrade the competitiveness of the country's key industrial sectors by expanding research and development efforts and easing regulations. The Ministry of Trade, Industry and Energy announced a set of measures to spur innovation in key export sectors, including semiconductors, displays and rechargeable batteries, in the face of toughening competition with emerging rivals. (Yonhap)"The high value-added strategies are aimed at i
Dec. 18, 2018
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HHI signs deal with DAPA for depot maintenance of Chang Bogo-II submarine
Hyundai Heavy Industries said Tuesday it has signed a contract with the Defense Acquisition Program Administration for depot maintenance of the third unit (1,800 tons) of the Chang Bogo-II submarine. Under the contract worth 55.5 billion won ($49 million), the Korean shipbuilder is slated to deliver the submarine to the Korean Navy by 2020. The depot maintenance project is designed to replace and repair parts of the interior of the submarine. Hyundai Heavy Industries already completed depot main
Dec. 18, 2018
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Ministry to expand R&D spending, financial aid for autos, chips, batteries
The Ministry of Industry on Tuesday unveiled a comprehensive plan aimed at revitalizing the sluggish auto sector and increasing state spending on research and development for manufacturers of chips and batteries to secure their leadership in the global market. Industry Minister Sung Yoon-mo (center) visit a local auto parts maker in Changwon, South Gyeongsang Province, as part of the industry inspection tour on Dec. 13. (Yonhap)For auto parts makers suffering from shrinking sales at home and abr
Dec. 18, 2018
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Korean Air to strengthen penalties for ticket cancellation
Korean Air said Tuesday that it will strengthen penalties for ticket cancellations from Jan. 1, following a recent incident involving a group of K-pop fans canceling their flight tickets right before takeoff, which caused a costly delay. According to Korean Air, passengers who cancel their tickets after passing through the departure gate will receive an additional 200,000 won ($176) of penalties. The current penalty amount is 120,000 won for long-distance routes, such as those to the United Stat
Dec. 18, 2018
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Korea's gaming industry ranks among world's top in sales
South Korea's gaming industry is the world's fourth largest in sales, but none of the local companies rank among the top producers, a report said Tuesday.According to the Korea Creative Content Agency, the industry's sales in October came to $5.76 billion. The number ranked fourth behind $34.4 billion for China, $31.53 billion for the United States and $17.71 billion for Japan. (Yonhap)South Korea ranks even higher if internet connections are counted in. For example, the internet-linked populat
Dec. 18, 2018
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Samsung ranks 4th in global market for premium monitors in Q3: IDC
Samsung Electronics Co. took up nearly 10 percent of the world's market for premium gaming monitors in the third quarter to become the No. 4 player in the sector, data showed Tuesday.According to the data compiled by industry tracker IDC, Samsung Electronics accounted for 9.7 percent of the world's market for gaming monitors in the July-September period that come with refresh rates of 100Hz and higher. Shown in this file photo provided by Samsung Electronics Co. on Aug. 21, 2018 is the company`s
Dec. 18, 2018
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Yak-kong Soymilk proves popular as healthy, low-calorie drink
Yak-kong Soymilk, which uses a small black bean base grown in Pyeongchang, Gangwon Province, is garnering attention as a healthy, low-calorie drink. Yak-kong Soymilk (Agency for Functional-Medicinal Soymilk)According to the company, all of its products are manufactured with 100 percent pure ingredients without any food additives or sugar. Most of the products are around 70 calories and are popular among dieters and those who want to stay fit, the company said. Yak-kong Soymilk’s manufacturer, Ag
Dec. 17, 2018
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Celltrion to step up US market expansion with 3 biosimilars
South Korean biopharmaceutical company Celltrion is on track for a major business expansion in the US, as it now has three biosimilars to compete against blockbuster original drugs in the US market.The US Food and Drug Administration on Friday approved Celltrion’s Herzuma, a biosimilar referencing blockbuster breast cancer drug Herceptin. The news came a month after the US regulator’s approval of Truxima, a Celltrion-developed biosimilar referencing Rituxan used for the treatment of non-Hodgkin’
Dec. 17, 2018
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Regulator, SK Telecom team up to fight phone scams
The financial watchdog said Monday it has signed a deal with SK Telecom Co., the nation's biggest wireless operator, to jointly develop an artificial intelligence platform to combat telephone scams. Under the deal, the Financial Supervisory Service will provide voices of phone scammers to SK Telecom, which develops algorithms that automatically analyze possible phone scams. (Yonhap)SK Telecom is expected to announce details of the platform in the first half of next year, the FSS said. The FSS l
Dec. 17, 2018
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Concrete voids found in two UAE reactors: ENEC
Two nuclear reactors under construction in the United Arab Emirates were found to have voids in their concrete walls and have been undergoing repairs, the Emirates Nuclear Energy Corporation has said. The Korea Electric Power Corporation, which is in charge of the construction of four reactors at the Barakah nuclear power plant, verified the presence of voids in Units 2 and 3 that were then confirmed by the plant operator, the ENEC said on its website on Dec. 5. (Yonhap)The state-run nuclear op
Dec. 17, 2018
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Govt. mulls safety checks on all SOC, energy facilities
The government is considering having social overhead capital and public energy firms conduct safety checks on all facilities under their oversight as part of efforts to pre-empt accidents, officials said Sunday.The move comes after a series of recent incidents, such as the derailment of a KTX bullet train operated by the Korea Railroad Corp. and the bursting of old heating pipes operated by the Korea District Heating Corp. (Yonhap)"We're considering asking SOC and energy-related public firms t
Dec. 16, 2018