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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Market uncertain on Korea's October rate cut despite slowed inflation
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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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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eBay Korea delivers special vests for firefighters
EBay Korea, which operates South Korea’s leading online retailers G-market, Auction and G9, has delivered specially designed vests for firefighters in North Jeolla Province, the firm said Monday. A firefighter holds a special vest delivered by eBay Korea. (eBay Korea)According to eBay Korea, the delivery was part of the company’s “Here Hero” corporate outreach campaign that began last year to provide products needed by firefighters in regions with low fiscal independence. Up to 1 billion won ($
Oct. 8, 2018
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Travel agency to offer eco peace tour package to DMZ
A tour agency specializing in travel to Korea's heavily armed demilitarized zone said Monday it will sell a new package to the area that highlights the ecosystem and peace instead of security-centered sightseeing.DMZ Tour Korea will offer a "Cheorwon DMZ peace and eco winter travel" package from Oct. 27 to the end of March next year that features a visit to Cheorwon, a county that is situated right next to the inter-Korean border and operates a DMZ eco peace park in coordination with the environ
Oct. 8, 2018
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Cabinet approves revised regulations to deal with unfair biz practices
Revised enforcement ordinances regulating unfair business practices were approved at a Cabinet meeting on Monday, which will better protect franchisers and subcontractors, the country's corporate watchdog said.Under the revised regulations, punitive damages of up to three times the actual losses incurred by illegal business practices such as unfair payments and returns, as well as cutting back supplied goods, will be imposed. The measures will take effect later this month, the Fair Trade Commiss
Oct. 8, 2018
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LG chief adds momentum to streamlining of affiliates
LG’s fourth-generation leader Koo Kwang-mo has focused on streamlining the group’s affiliates for the last three months since taking the helm of the fourth-biggest conglomerate in South Korea, boosting expectations of an upcoming organizational reshuffle by year-end, according to the industry on Sunday. Saturday marked the 100th day since Koo’s inauguration as chairman and CEO of LG Corp., the holding company of 70 affiliated businesses, and industry watchers have noted that the 40-year-old chie
Oct. 7, 2018
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German forestry experts visit Korea to commemorate 44th anniversary of partnership
The Korea Forest Service hosted an event to commemorate the 44th year since the start of technical cooperation in the forestry sector with Germany that had largely contributed to development of Korea’s forests, the agency said Sunday.German officials visited Korea for three days through Sunday at the invitation of the state-run forest service to show appreciation for their contribution in restoring Korea‘s forests in the course of the partnership between the countries from 1974 and 1993, and dis
Oct. 7, 2018
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[Contribution] Working together for Korean Peninsula’s forest management
Germany is a country with advanced forest management skills, which also led to the notion of adopting sustainable social administration. The country already shaped its sustainable management system of its forestry in the 18th century and has ever since continued to maintain the ecological base and productivity of forests.As it takes more than 100 years for a tree to become valuable as a product, every forest must have an even distribution of young and old trees so that they can be produced, used
Oct. 7, 2018
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SK Innovation shares attract investors, foreign buyers
South Korea’s leading energy and petrochemical company SK Innovation said it has seen a rise in institutional and foreign buying, on the back of a shift in its profit model and business structure.Institutional investors remained net purchasers from Sept. 3 to Oct. 2, except for two trading days, trading some 689,663 units of stocks during the period, according to the firm. (SK Innovation)The percentage of foreign buying also recovered to the 40 percent range on Oct. 2. As of Oct. 7, the amount p
Oct. 7, 2018
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Trademark fees received by chaebol holding companies exceed 1 tr won in 2017
Trademark usage fees received by holding companies of South Korea's largest conglomerates exceeded 1 trillion won (US$884.5 million) for the first time ever in 2017, a report submitted to parliament by the country's anti-trust watchdog showed Sunday.The findings submitted to Rep. Lee Tae-kyu's office by the Fair Trade Commission showed that, of the 60 largest conglomerates with assets in excess of 5 trillion won that have to disclose such data, 37 business groups received money for allowing comp
Oct. 7, 2018
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Debt of major S. Korean public firms on rise
South Korea's public sector debt growth is likely to rise this year, government data showed Sunday, raising concerns about Seoul's financial burdens.The combined debt of 39 major South Korean public sector firms is forecast to reach 480.8 trillion won ($425 billion) this year, according to the data from the Ministry of Economy and Finance submitted to the National Assembly.The debt had declined for four straight years to 472.3 trillion in 2017 after hitting a record high of 498.5 trillion won in
Oct. 7, 2018
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Saturday’s fireworks festival to take place despite rain
The 16th Seoul International Fireworks Festival will take place on Saturday, according to Hanwha Group, the organizer of the fireworks event. "We decided to hold the festival as scheduled to live up to expectations of citizens and foreign tourists, who have waited long. The typhoons are expected to move away from 7 p.m. when the fireworks begin," said the company spokesperson. Due to rainfall, Hanwha Group, said on Friday it would closely monitor the weather and decide Saturday morning around 10
Oct. 6, 2018
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LG Chem to supply electric vehicle batteries to Volkswagen
LG Chem Ltd., Korea's top chemicals company, said Thursday that it has been tapped as a supplier of electric vehicle batteries to German carmaker Volkswagen."We plan to supply electric vehicle batteries" to Volkswagen, beginning at the end of 2019, the company said in a regulatory filing with the Financial Supervisory Service. (LG Chem)LG Chem said the number and prices of the batteries to be supplied are fluid due to orders needing to be placed and market conditions.Currently, the Korean compan
Oct. 4, 2018
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KT&G donates W100m to disaster-stricken Indonesia
South Korea’s leading tobacco maker KT&G has donated 100 million won ($88,635) to help recovery works in Indonesia, which is suffering from massive casualties and damage from an earthquake and tsunami, the firm said Thursday.The 7.5 magnitude earthquake and subsequent tsunami that struck Indonesia days ago have resulted in at least 1,200 deaths and inflicted massive damage on the Sulawesi region.The donation by KT&G was gathered from its executives and employees through the “Sang Sang Fund,” in
Oct. 4, 2018
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[Herald Interview] Sharing recipe for success
For the past couple of decades, the South Korean government has made efforts to promote Korean food or Hansik around the globe, with kimchi, bulgogi and bibimbap appealing to a growing number of non-Koreans. The globalization efforts kicked off in 2009 under the former Lee Myung-bak government as a project led by then-first lady Kim Yoon-ok. Although the government has spent over millions of won to promote the country’s cuisine, people in the US and Europe became interested in Korean food only r
Oct. 4, 2018
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Two Korean pension funds to boycott coal finance
Korea’s Teachers’ Pension and Government Employees Pension System announced they will not consider financing any new coal-fired power plants, becoming the first Korean financial institutions to boycott coal financing amid the global movement to tackle climate change and air pollution problems. Although the two hold no history of having invested in coal projects in the past, their refusal to participate in any future projects can be a catalyst for other institutions to follow suit, according to e
Oct. 4, 2018
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World’s second-biggest NAND flash plant by SK hynix opens in Cheongju
CHEONGJU, North Chungcheong Province -- The first wafers were loaded onto lithography equipment in the newest clean room of SK hynix’s M15 fabrication building in Cheongju, North Chungcheong Province, Thursday, to mark the kick-start of the world’s second-biggest NAND flash factory. On 60,000 square meters of land, about the size of eight football stadiums, at the origin of the first metallic movable types 600 years ago, the M15 fabrication facility is expected to produce 100,000 additional wafe
Oct. 4, 2018
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[Weekender] Beauty from a Korean perspective
Western cosmetics giants have dominated the beauty industry for a long time, but Korean brands are increasingly setting new standards of beauty, driven by the worldwide popularity of K-pop. A growing number of people, regardless of gender and age, are investing time and money on beauty products from Korea’s cosmetic shops. This includes a large portion of foreigners searching for K-beauty -- a new norm referring to a wide range of skin care and makeup products that originate from Korea, and the
Oct. 4, 2018
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[Weekender] Korean makeup companies paint new face of beauty
For beauty-trend followers around the world, “glass skin” has become a buzzword in recent years, as Korean skin care and makeup trends took social media by storm.Glass skin, a term used to describe crystal-clear, flawless, almost transparent skin has been a sought-after beauty ideal in Korea and fans of Korean tyle trends.Korean makeup is having its moment in the sun. What began as a skin care sheet mask has now expanded into a 10 step Korean beauty regimen, commonly known as the “glass skin rou
Oct. 4, 2018
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Daewoong terminates Nabota clinical trial plans in China, plans refiling
South Korea’s Daewoong Pharmaceutical said Thursday that it had voluntarily terminated its clinical trial application for its type A botulinum toxin drug Nabota that was approved by China’s drug regulator in January, citing the need for a production site change. The firm plans to submit a revised CTA by the year’s end, it added. After submitting the CTA and successfully obtaining approval, Daewoong expects that it can initiate phase 3 trials for Nabota, to prove the drug’s efficacy in treating f
Oct. 4, 2018
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One in 4 chaebol family members put up shares as collateral
One in four family members of South Korea's major conglomerate owners have put up shares as collateral to take out loans from financial institutions, a market tracker said Thursday.CEO Score said that 178 owner family members of 51 conglomerates, known here as chaebol, have offered shares in their subsidiaries as collateral as of the end of September.The value of the shares used as collateral totals 11.74 trillion won ($10.4 billion), accounting for 13.4 percent of the combined shareholdings of
Oct. 4, 2018
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Ex-CEO’s ‘secret sale’ of rice burger chain sparks dispute
Former Bongousse Rice Burger CEO Oh Seh-rin has sparked controversy after he reportedly sold the company to popular Korean fried chicken chain NeNe Chicken without giving prior notice to franchise owners. NeNe Chicken recently acquired the burger franchise and replaced Oh with the current CEO Hyun Cheol-ho last month, a company official said Wednesday. With less than $100, Oh reportedly started out as a street food vendor in front of Dongwon High School and Dongwoo Girls’ High School in Suwon, G
Oct. 3, 2018