Most Popular
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Slew of top K-pop stars ready to return from military
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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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Korean tech giants increasingly embracing smart factory
A paradigm shift is taking place in the Korean manufacturing sector as conglomerates are increasingly embracing smart manufacturing with the goal of improving production efficiency and reducing risks using technologies of artificial intelligence, big data and internet of things, according to the patent office on Tuesday. Smart manufacturing is artificial production processing with the goal of optimizing concept generation, production, and product transaction via the use of the latest information
Nov. 13, 2018
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Pernod Ricard launches new low-alcohol spirit drink Smooth 12
Pernod Ricard Korea’s leading Scotch whisky brand Imperial on Tuesday launched new low-alcohol spirit drink Smooth 12.As part of the promotion, the company has also opened pop-up store The Smooth Hotel & Malt Bar at Banyan Tree Seoul. Interior of Moon Bar at The Smooth Hotel & Malt Bar (Pernod Ricard Korea)Under a theme of “The Smooth Men,” the pop-up store will host events such as a tasting and cocktail class in Moon Bar, Smooth Signature Dining and special hotel room promotions until Nov. 30.
Nov. 13, 2018
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Fidelis F&B acquires right to sell Chinese liquor Wuliangye in Korea
South Korean company Fidelis F&B has acquired the domestic sales rights for the renowned Chinese liquor Wuliangye, the company said Tuesday. According to Fidelis F&B, the company held a contract-signing ceremony with Wuliangye manufacturer Yibin Wuliangye Group on Nov. 1. Fidelis F&B CEO Kim Seong-jun (left) and Yibin Wuliangye Group CEO Wang Ping pose for a photo after a contract-signing ceremony Nov. 1 at Yibin Wuliangye Group headquarters. (Fidelis F&B)Wuliangye is a type of Chinese baiju an
Nov. 13, 2018
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Layoffs in the cards at troubled shipyards
South Korea's embattled shipbuilding giants may conduct a wave of year-end layoffs in line with self-rescue measures agreed upon with creditors, industry sources said Tuesday.Stung by snowballing losses from tumbling orders and heavy debt, Daewoo Shipbuilding and Marine Engineering Co., Samsung Heavy Industries Co. and Hyundai Heavy Industries Co. have promised creditors a range of restructuring steps, including layoffs. (Yonhap)According to the sources, DSME chief executive Jung Sung-leep is sl
Nov. 13, 2018
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Korea's biggest game fair set to open in Busan
South Korea's largest computing game expo is slated to open in Busan this week featuring a wide range of new computer and mobile games with virtual reality technology taking the center stage, sources said Tuesday.Hundreds of game developers and distributors from scores of countries will take part in the G-Star Global Game Exhibition scheduled to kick off in the southeastern port city Thursday for a four-day run.Attendees include South Korean gamemakers Nexon and Netmarble Games, as well as forei
Nov. 13, 2018
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Local Samsung Pay users up 58% on-year in October
Samsung Electronics Co.'s payment tool, Samsung Pay, stood as South Korea's top transaction app in October, data showed Tuesday, with the number of Android-based users rising 58 percent on-year.According to the data compiled by industry tracker WiseApp, Samsung Pay was the most popular financial application for the month, with the number of users estimated at 10.4 million, up from 6.6 million posted last year. (Yonhap)The survey was based on research conducted on 23,000 users of Android-powered
Nov. 13, 2018
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GM Korea refuses talks with union over R&D separation
GM Korea Co., the South Korean unit of General Motors Co., on Monday refused to meet with its union to narrow their differences over its decision to build a separate research and development company, which the workers see as an initial move by the carmaker to scale down its plants in Korea. In a statement released earlier in the day, the union said it will join the trilateral meeting between GM Korea, worker representatives and the Korea Development Bank on Tuesday if the company provides the de
Nov. 12, 2018
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Businesses call for drastic deregulation
South Korean business leaders urged the government to implement drastic deregulation measures to revive the nation’s struggling manufacturing sector, at a meeting with the trade minister on Monday.“We are (hoping to see) new policy initiatives designed to drive (the nation’s) qualitative growth on the basis of innovation,” said Park Yong-maan, chairman of the Korea Chamber of Commerce and Industry. He said the Moon administration “has been making more efforts than previous governments,” but adde
Nov. 12, 2018
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Four new budget air carriers apply for operation license
The Transport Ministry said Monday that four new budget air carriers have applied for business licenses, amid the government’s plans to add new low-cost carriers by the first quarter of next year. The applications will be reviewed based on the reinforced entry criteria for LCCs.According to the Ministry of Land, Infrastructure and Transport, budget air carriers including Fly Gangwon, Aero K, Air Premia and Air Philip have submitted applications. Another air carrier Guardians is set to apply with
Nov. 12, 2018
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LG Chem to develop cancer immunotherapy candidates with Cue Biopharma
LG Chem, a chemicals and life sciences company under South Korea’s LG Group, said Monday that it will start developing new cancer immunotherapy candidates licensed in from US-based Cue Biopharma.The two companies have entered a strategic collaboration agreement to co-develop three cancer immunotherapy candidates developed by Cue Biopharma, which are currently in the pre-clinical trial stage. The collaboration provides LG Chem’s life sciences division with the rights to develop and commercialize
Nov. 12, 2018
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Uniqlo announces four-day sale
Uniqlo will begin a four-day sale from Friday through Monday at all of its stores across Korea and on its online shopping mall. The apparel brand announced the sale Monday, adding that it would include Heattech items designed to insulate consumers against the winter cold. The sale will also include ultra light down vests and turtleneck sweaters, some of the bestselling products at Uniqlo. (Uniqlo)By Lim Jeong-yeo (kaylalim@heraldcorp.com)
Nov. 12, 2018
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LS-Nikko signs 5-year deal to buy copper concentrate from BHP
LS-Nikko Copper Inc., a leading copper-processing company in South Korea, said Monday it has signed a five-year deal with BHP Billiton PLC to purchase 1.65 million tons of copper concentrate from the Australian miner.In the deal, LS-Nikko Copper will receive 330,000 tons a year of copper concentrate from the Chile-based Escondida mine operated by BHP Billiton from 2019 to 2023, the company said in a statement. (Yonhap)The company didn't provide the value of the contract. Copper concentrate is a
Nov. 12, 2018
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Hyundai Heavy receives US cyber security certificate for tanker
Hyundai Heavy Industries Co., the world's largest shipbuilder by sales, said Monday that it has received a cyber security certificate from the American Bureau of Shipping for an oil carrier.It marked the first time in the world that Hyundai Heavy received the Cyber Security Ready for a very large crude carrier. (A very large crude carrier built by Hyundai Heavy Industries Co. that received cyber security certificate from the American Bureau of Shipping, in this photo provided by Hyundai Heavy on
Nov. 12, 2018
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Italian fabric brand Alcantara to expand collaboration with Korean firms: CEO
The CEO of Italian luxury fabric manufacturer Alcantara S.p.A. said Monday the company will increase its partnership with South Korean companies as it moves to expand its presence in the global market.The Italian firm entered South Korea in 2014 by signing a contract with a local sofa brand, Torre. It has since been collaborating with a number of other Korean firms, including major automakers, such as Kia Motors Corp., which is the country's second-biggest carmaker by sales. (provided by Italian
Nov. 12, 2018
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Korea to hold tourism fair in Beijing this week
South Korea's tourism promotion agency said Monday it will hold a fair in Beijing this week in the latest bid to lure back Chinese tourists.More than 70 tourism-related companies and institutions from South Korea plan to take part in the one-day expo -- the largest event meant to attract Chinese visitors to South Korea since late 2016 -- on Wednesday, according to the Korea Tourism Organization. This photo, provided by the Korea Tourism Organization, shows a Korean booth at China International
Nov. 12, 2018
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Korea's renewable battery industry to create fund
South Korea's big-three rechargeable battery makers have agreed to create a fund to jointly develop next-generation battery technologies and foster related industries, the industry ministry said Monday.The companies -- LG Chem Inc., Samsung SDI Co. and SK Innovation Co. -- signed a memorandum of understanding for joint R&D of key battery technologies and the creation of a fund worth Sung Yun-mo (C), South Korea's minister of trade, industry and energy, poses after signing a memorandum of underst
Nov. 12, 2018
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Korea, Spain to negotiate aircraft swap contract
South Korea and Spain will discuss a proposed aircraft swap in their joint committee meeting on defense industry cooperation in Madrid this week, an informed source said Monday.The two sides are to open a two-day working-level session later in the day, according to the Defense Acquisition Program Administration, Seoul's arms procurement agency.Among agenda items is Spain's offer to trade its Airbus A400M Atlas airlifters with T-50 Golden Eagle and KT-1 Woongbi trainer jets produced by Korea Aero
Nov. 12, 2018
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Average age of CEOs at top five groups 58.1
The average age of the 122 CEOs at South Korea’s five leading conglomerates is 58.1, according to corporate rating agency CEO Score. Samsung Electronics` Chairman Lee Kun-hee, left, and Vice Chairman Lee Jae-yong in a file photo (Yonhap)Of all the CEOs at companies affiliated with Samsung, Hyundai Motor, SK, LG and Lotte, LG Group CEOs were the oldest on average at 60.9 years. Park Jin-soo, LG Chem’s retiring vice chairman and CEO, was the oldest at 66. Lotte Group had the highest number of CEO
Nov. 12, 2018
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KT&G to improve profitability on new device, overseas sales
South Korean cigarette company KT&G is widely expected to see increased profitability in the fourth quarter on sales of its new e-cigarette lil here and improved overseas sales, the company said Sunday.The firm posted higher than expected performance in the July-September period, with 1.1 trillion won in revenue, down 7.6 percent on-year. In the cited period, its operating profit dropped 14.8 percent to 359.3 billion won, about 2.7 billion won higher than market projections, the company said. li
Nov. 11, 2018
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Korea, Japan, China to strengthen postal service cooperation
Korea Post, South Korea’s postal service operator under the Ministry of Science and ICT, said Sunday that it signed a memorandum of understanding with its counterparts in China and Japan last week, agreeing to strengthen cooperation in postal service technology innovation and adoption. Under the memorandum signed during a high-level meeting in Tokyo held from Nov. 8-9, the postal service operators of the three countries will work together to speed up delivery systems, in competition with global
Nov. 11, 2018