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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Samsung unveils 'personalized AI' for all devices
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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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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Coldplay to celebrate release ‘Moon Music’ with Han River drone show
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Renault’s Twizy takes 80% of ultra-mini car market
Amid growing interest in personal mobility, a total of 1,283 units of the Twizy, an ultracompact electric vehicle manufactured by French carmaker Renault, have been sold in South Korea as of October, making it No. 1 in the new segment with market share of 80 percent, Renault Samsung Motors said Tuesday.After the Twizy was presented on a home-shopping program, around 3,700 customers signed up for consulting services in just an hour, three times more than expected. Renault’s ultracompact electric
Nov. 27, 2018
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Mobile shoppers used Coupang most in October: data
South Korean mobile shoppers used e-commerce platform Coupang the most in October, which saw about a 23 percent increase in the number of its monthly active users, industry data showed Tuesday.According to mobile application analysis company Wise App’s survey conducted on 23 million Android phone users here, at least 8.18 million of them had used Coupang for mobile shopping last month.It was followed by 11st with some 5.95 million monthly active users (MAUs) and WeMakePrice with 4.36 million use
Nov. 27, 2018
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Lotte Group to sell 2 financial units, quicken transition to holding company structure
South Korea's retail-to-chemical conglomerate, Lotte Group, will sell its two financial units, the group's holding company said Tuesday, in a move that speeds up its transition into a holding company structure.Lotte Corp., the group's holding firm, said it has decided to sell the two financial units -- Lotte Insurance Co. and Lotte Card Co. (Yonhap)Under a South Korean law, an industrial holding company is banned from holding a majority stake in a financial unit to prevent owners of family-run b
Nov. 27, 2018
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Samsung Display carries out CSR for youths, underprivileged
Samsung Display has been engaged in social acitivities designed for teenagers and the underprivileged throughout this year as part of the firm’s corporate social responsibility program, the company said Tuesday.For teenagers, the firm has supported students in promoting the importance of reading with a project called “BOM (Bread of Mind) Dream” since 2014. Participants attend the 2018 BOM Dream Awards ceremony. (Samsung Display)The program involved remodeling school libraries and providing othe
Nov. 27, 2018
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[Herald Interview] WeWork Korea scales to meet soaring demand
When New York-based coworking space operator WeWork set foot in Seoul in August 2016 with its first office in the affluent Gangnam-gu district, the staff’s main task was to overcome uncertainties in the Korean market, where the concept of coworking spaces was new. Two years later, WeWork Korea is on a roll, tasked instead with meeting soaring demand for easier and trouble-free leases. Masterminding the leap forward in Asia’s fourth-largest economy is Kang Dong-jin, senior director of real estate
Nov. 27, 2018
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Manufacturing, mining sector shipments up in 2017: report
South Korea's manufacturing and mining industry shipments rose in 2017 mainly due to growth in the electronics, refined petroleum and machinery sectors, a government report showed Tuesday.Combined shipments by companies with more than 10 employees reached 1,516 trillion won (US$1.34 trillion), up 7 percent, or 99.7 trillion won, from the year before. (Yonhap)The increase is attributable to a 14.6 percent on-year rise in electronics and a 26.6 percent gain in shipments from local refined petroleu
Nov. 27, 2018
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Korea to continue to go nuclear-free despite Taiwan’s pro-nuclear move
Korea will maintain its stance on its anti-nuclear policy in the wake of heated debate over Taiwan’s latest referendum that voted in favor of repealing the nuclear phase-out, according to a senior government official of the Energy Ministry on Monday. “Taiwanese seemed to decide to abandon its anti-nuclear policy in the wake of a massive blackout in August last year. Although our policy direction is somewhat similar to Taiwan, there are also differences,” a senior official of the Ministry of Trad
Nov. 26, 2018
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GS E&C shows world-class tech with Noryang Bridge construction
South Korean builder GS Engineering and Construction said the construction of Noryang Bridge has proven the company’s world-class construction technology.Noryang Bridge, which connects Namhae County and Hadong County in South Gyeongsang Province, opened to public on Sept. 13 after nine years of construction. Noryang Bridge (GS E&C)It is the world’s first suspension bridge with an inclined main tower built by a domestic company. The 890-meter-long Noryang Bridge is the third-longest bridge in the
Nov. 26, 2018
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Incheon Airport signs MOU for Manila’s new airport
Incheon International Airport signed a memorandum of understanding with San Miguel Holdings to push ahead with a project to develop a new airport in Manila in the Philippines, the firm said Monday. Chung Il-young (right), president of Incheon International Airport, and Ramon See Ang, CEO of the San Miguel Holdings Corporation pose for cooperative partnership‘s signing ceremony of new Manila Airport project at the Imperial Hotel in Tokyo, Japan. (IIAC)The new project of Manila aims to set up an
Nov. 26, 2018
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SK Biopharmaceuticals submits epilepsy drug candidate for approval to US FDA
SK Biopharmaceuticals, the new drug development unit of South Korea’s telecom-to-energy conglomerate SK Group, said Monday that it had submitted a new epilepsy drug candidate to the US Food and Drug Administration seeking marketing approval.SK Biopharm said it had submitted a new drug application for Cenobamate, which is intended to treat epilepsy, a neurological disorder characterized by recurrent seizures. If approved on schedule, the drug is expected to hit the market within the first half of
Nov. 26, 2018
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[Video] KT&G unveils liquid cartridge-type HNB tobacco Lil Hybrid
South Korean tobacco manufacturer KT&G on Monday unveiled its new heat-not-burn tobacco device Lil Hybrid, the first HNB device that works by heating a liquid cartridge. “Our previous HNB tobacco devices -- Lil Mini and Lil Plus -- had received consumer feedback that the taste needs to be improved. That’s why we came up with our exclusive and new platform called Lil Hybrid,” said Lim Wang-seob, chief of the company’s product innovation division. According to KT&G, Lil Hybrid works by hea
Nov. 26, 2018
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[Newsmaker] Starbucks Korea starts using paper straws nationwide
Starbucks Korea said Monday that its stores are now using paper straws after a test run.In September, Starbucks began a two-month trial period to test the feasibility of using paper straws at some 100 stores in Seoul, Busan and Jeju in an effort to reduce waste and protect the environment. (Yonhap)During the test run, the paper straws were available in both green and white. Starbucks has decided to use white straws in consideration of customer feedback suggesting that white straws appeared more
Nov. 26, 2018
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Govt. to inspect all telecommunication facilities
The ICT ministry said Monday that it plans to inspect all telecommunication facilities in light of a fire at a KT Corp. building in western Seoul that led to major Internet and phone disruptions around the area.According to the plan announced by the Ministry of Science and ICT, in addition to 80 major telecommunication facilities across the country with ratings from A to C, 835 others with D-level ratings are to be checked as well. (Yonhap)Facilities with a D classification are mostly small and
Nov. 26, 2018
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Small merchants to save W520b as govt. cuts credit card processing fees
Small merchants are expected to save upward of 520 billion won ($459.6 million) annually as the government announced a plan to cut credit card processing fees, officials said Monday. The move is part of the government's efforts to support self-employed business owners at a time when the nation's economy shows signs of sluggish growth in the face of weakening private consumption. Credit card processing fees for small merchants with an annual revenue of between 500 million won and 1 billion won wi
Nov. 26, 2018
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LG Electronics showcases medical display products in US
LG Electronics Inc. said Monday it participated in a medical exhibition in the United States and showcased various display solutions designed for surgeons, seeking to expand its presence in the market.The South Korean tech giant displayed the Ultra HD and Full HD surgical monitors -- the 27HJ710S and the 27HK510S -- at the Radiological Society of North America, which runs through Friday in Chicago. (Yonhap)LG Electronics said the two monitors are capable of delivering vivid color, providing surg
Nov. 26, 2018
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Korea counters Philip Morris' info disclosure lawsuit
South Korea's food and drug watchdog said Monday it has filed a response to Philip Morris Korea Inc.'s lawsuit over the disclosure of information on its research on harmful substances found in alternative tobacco products.The Ministry of Food and Drug Safety said it has selected a local law firm to prepare for a legal battle with Philip Morris after filing a statement to the Seoul Administrative Court on Saturday. IQOS (Yonhap)The ministry and the local unit of global tobacco giant Philip Morris
Nov. 26, 2018
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Shipments of 8K TVs around globe miss target in 2018
Global shipments of 8K TVs lagged far behind expectations in 2018, data showed Monday, apparently due to the lack of video content currently available that can fully meet the high-resolution standard.According to the data compiled by industry tracker IHS Markit, the global shipment of 8K TVs is expected to reach 18,000 units. (Yonhap)The figure marks a sharp drop from 85,000 units suggested by the agency in a separate report in April.For 2019, IHS Markit said shipments are expected to reach 430,
Nov. 26, 2018
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Air Busan passengers told to stay in plane for 6 hours
Passengers on an Air Busan flight bound for Gimhae International Airport from Taiwan said Sunday that they were required to stay on board their plane for six hours after bad weather forced a diversion to Incheon.The BX798 flight with 206 people on board left Taipei at 3:10 a.m. and was scheduled to arrive in Busan on 6:10 a.m., but it was sent to Incheon International Airport (IIA) as heavy fog made landing difficult.Passengers claimed that troubles began once the plane touched down at IIA at 6:
Nov. 25, 2018
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KT chairman apologizes for chaos, scrambles to contain damage from fire
Amid efforts to recover from the fire that broke out in the basement of KT’s building in western Seoul, South Korea’s No. 2 mobile carrier on Sunday apologized for the communication chaos caused by the blaze and emphasized its willingness to compensate those affected.KT Chairman Hwang Chang-gyu and Oh Sung-mok, the chief of KT’s network business division, visited the site of the incident, KT’s base transceiver station located in central Ahyeon-dong, Mapo-gu, and apologized for the inconvenience
Nov. 25, 2018
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Samsung Securities exceeds 25,000 hours of foreign stock training
The combined training on foreign stock given to private banking managers at Samsung Securities surpassed the 25,000-hour mark, as part of their enhanced focus on raising global investment capabilities, the firm said Sunday. This means, an inidivual PB manager received an average of 30 hours of training. Private Banking managers of Samsung Securities pose for a photo at Twitter in San Francisco. (Samsung Securities)Samsung Securities sent their “Global PB Research Group” to Vietnam, Japan, and th
Nov. 25, 2018