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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Unsanitary conditions uncovered at coffee chains nationwide
Twenty-one major South Korean coffee shop and fresh juice franchises have come under fire for violating the nation’s Food Safety Act, according to the Ministry of Food and Drug Safety on Thursday. The ministry inspected 4,071 establishments Aug. 13-17. Franchises that were found to be in violation included Tom N Toms, A Twosome Place, Paris Baguette and Ediya Coffe. (Yonhap)The franchises were found to have violated a number of food safety laws from selling and using expired products to failure
Sept. 27, 2018
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[Advertorial] Samsung Electronics releases web drama on AI, dystopian future
Samsung Electronics unveiled its fifth web drama series “Ambergris” earlier this month, depicting a dystopian future where humanism is revived with the help of artificial intelligence.The story is of a woman taking a life-risking journey to find a whale in the sea in 2053, when the world is on the brink of the apocalypse due to severe micro dust.The main character, played by I.O.I’s Kim So-hye, longs for a whale she saw with her mother years ago, replaying her memories with virtual reality devic
Sept. 27, 2018
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HDC completes sales of Cheongju Gagyeong I-Park 3
Hyundai Development Company’s apartment complex Cheongju Gagyeong I-Park 3 in North Chungcheong Province has completed its sales, the firm said Thursday. Cheongju Gagyeong I-Park 3 has been touted as a new residential complex with a good transportation network. Cheongju Gagyeong I-Park 3 (HDC)The apartment is located adjacent to Osong Station on the Gyeongbu KTX high-speed train as well as Cheongju Station, a railway line that connects Daejeon and other regions of North Chungcheong Province. Th
Sept. 27, 2018
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Ministers OK arrival-area duty-free shops
The South Korean government on Thursday gave the green light to the long-debated opening of duty-free shops at airport arrival areas, starting with a six month-trial at Incheon Airport.According to the Finance Ministry, the decision was made during a meeting of economy-related ministers on Thursday. The deregulation measure intends to reduce discomfort experienced by tourists and boost the competitiveness of domestic airports, it added.Since 2003, the introduction of duty-free shops in areas whe
Sept. 27, 2018
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Riding on chip boom, SK hynix’s brand value soars
Taking the unprecedented boom in memory chips as an opportunity, the South Korean chip powerhouse SK hynix has been seeking to improve its corporate image as the top global company via various social awareness campaigns and corporate social responsibility projects.The basis for this drive is its improved brand value. The company was picked as the sixth-most valuable South Korean brand in 2018 by the UK-based consulting firm Brand Finance.The chipmaker’s ranking jumped from No. 16 last year to No
Sept. 26, 2018
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CJ Group chief wins Van Fleet Award
CJ Group Chairman Sohn Kyung-shik won Van Fleet Award from the Korea Society on his contribution in strengthening ties between South Korea and the United States, the company said Wednesday.The award was accredited to his work on introducing Korean culture to the US and bridging the two countries as the former head of the Korea Chamber of Commerce and Industry, it added. CJ Group Chairman Sohn Kyung-shik receives the Van Fleet Award from Korea Society Chairman Thomas Hubbard (left) and Korea Soci
Sept. 26, 2018
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Conglomerates dominate duty-free market
South Korea’s duty-free shops run by family-controlled conglomerates such as Lotte and Shilla posted some 10 trillion won ($8.95 billion) in combined sales last year, nearly 99 percent of total sales, data showed Wednesday. (Yonhap)According to Korea Customs Service data quoted by Rep. Park Young-sun of the ruling Democratic Party of Korea, sales of chaebol duty-free stores -- Lotte, Shilla, SK Walkerhill, Shinsegae, Doota, HDC Shilla and Galleria -- came to 10.6 trillion won in the last year,
Sept. 26, 2018
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Poinix’s close-proximity method grabs attention
A senior researcher of local tech company Poinix grabbed attention at the international noise control conference with her study on the close-proximity method, according to the company Wednesday. Kim Hyun-jin, senior researcher at Poinix, presented her research on comparing measurement on noise reduction of quiet pavement at the International Congress and Exposition on Noise Control Engineering that took place from Aug. 26 to 29. Dr. Ulf Sandberg (left), an author of Tyre/Road Noise Reference Boo
Sept. 26, 2018
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[Herald Interview] ‘Transparency key to Nutrilite’s product safety’
Illnesses arising from poorly stored or cooked food frequently make headlines worldwide, despite repeated calls for higher sanitation standards.That is why designing and managing traceability systems are critical for producers of not only food but other categories of consumable products, according to Sam Kilgore, Nutrilite quality engineering manager.Sam Kilgore, Nutrilite quality engineering manager, speaks during an interview with The Korea Herald. (Amway Korea)“For dietary supplement products
Sept. 26, 2018
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Samsung Electronics tipped to log record Q3 profits on solid
Samsung Electronics Co. is expected to post a record operating profit of 17.2 trillion won (US$15.4 billion) in the third quarter, backed by firm demand for memory chips, market sources said Tuesday. The consensus by major brokerage firms marks an 18.5 percent on-year increase in the tech behemoth‘s profit for the July-September period. The revenue is forecast at 65.2 trillion won, up 5.1 percent from a year ago. The company is expected to release its third-quarter earnings preview next Friday
Sept. 25, 2018
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Louis Vuitton the most-counterfeited foreign brand in S. Korea: report
Louis Vuitton was the most frequently counterfeited foreign brand in South Korea over the past five years, a report showed on Saturday.According to data from the Korea Customs Service, government regulators uncovered imitation Louis Vuitton products valued at 183.1 billion won ($163.99 million) between 2014 and June this year, which is the largest value among counterfeited foreign luxury brands. (Yonhap)The value assessment was in terms of genuine Louis Vuitton goods.Given that more than 41.1 b
Sept. 22, 2018
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LG Chem holds event for horizontal work culture
LG Chem, South Korea’s leading chemicals company, held an event to bolster communication and understanding between millennial employees and executives, the company said Friday.The event was led by six new employees under the topic “happy companionship with millennials” during a workshop for some 300 executives, factory managers and chief researchers at its leadership center in Osan City, Gyeonggi Province, earlier this week. The participating newbies talked openly about the millennial generation
Sept. 21, 2018
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US FDA delays approval of GC Pharma’s IVIG-SN again
South Korean biopharma company GC Pharma said Friday that the US Food and Drug Administration has delayed the approval of the firm’s immunodeficiency drug IVIG-SN, demanding additional data related to the drug’s manufacturing procedures.The company had initially expected the US FDA to grant final approval for IVIG-SN, short for human normal immunoglobulin G for intravenous administration, this month.The company noted that the drug’s safety and efficacy are solid, as the product is already being
Sept. 21, 2018
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Hanwha Energy, Korea Midland Power to develop US solar plant
Hanwha Energy Corp. and Korea Midland Power Corp. will build a solar power plant in the United States by 2020, Hanwha Group said Friday. The construction of a 150-megawatt solar power plant is scheduled to begin in December 2019 and to be completed a year later in Boulder City, southeast of Nevada, the conglomerate said in a statement. (Yonhap)Hanwha Energy will be responsible for development and power generation of the plant, with Korea Midland Power contributing its know-how in power generati
Sept. 21, 2018
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Dunamu releases beta version of blockchain app builder ‘Luniverse’
Dunamu, the operator of South Korea’s leading cryptocurrency exchange Upbit, said Friday its blockchain tech research lab Lambda256 has released a beta version of its decentralized app, or dApp, builder solution “Luniverse.”Luniverse is the Dunamu-owned research unit’s proprietary blockchain service development platform that lets developers build various dApps and run token economy systems in an easier and faster manner. Using Luniverse, developers can immediately launch their planned blockchain
Sept. 21, 2018
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Korea permits 2-year regulatory sandbox period for novel ICT innovation
The National Assembly on Thursday passed a bill that grants a regulatory sandbox for new businesses in the information and communication technology sector, a development that is expected to speed up the adoption and commercialization of next-generation technologies in Korea. The bill to amend the Special Act on Promotion and Vitalization of Convergence of Information and Communications Technology was passed into law on Thursday, according to the Ministry of Science and ICT.The changes include th
Sept. 21, 2018
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OECD cuts S. Korea's economic growth forecast to 2.7% in 2018
South Korea's economy is expected to grow at a slower than expected pace this year, a Paris-based international organization said Thursday.In its interim economic outlook, the Organization for Economic Cooperation and Development expected Asia's fourth-largest economy to grow 2.7 percent this year, lower than its previous estimate of 3 percent growth made in May.For next year, the OECD also slashed its growth outlook to 2.8 percent from the previous 3 percent. (Yonhap)The OECD said the Korean ec
Sept. 20, 2018
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Biz leaders glad to have seen NK up close
The business leaders who accompanied South Korean President Moon Jae-in to North Korea this week returned to Seoul full of emotion, saying the trip had been worthwhile for the chance to see the North with their own eyes, but at the same time maintaining that it was premature to discuss doing business there. “It can be said that we went (to the North) to hear what they had to say. It was significant to have been able to witness North Korea with our own eyes. We tried to take in as much as possibl
Sept. 20, 2018
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Celltrion partners with Emory University for new atherosclerosis drug R&D
Celltrion said Thursday that it had signed an “incubation” agreement with US-based Emory University to jointly research and develop new drug candidates for atherosclerosis. An incubation agreement is an open innovation arrangement in which a firm provides its resources and business capabilities, such as research facilities, workforce and operations consulting, to an external research institute.The arrangement aims to ensure the autonomy of the research while obtaining preferential rights to disc
Sept. 20, 2018
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US exempts Korean steel from import tariff, in positive signal for local steel industry
Steel products made by South Korea’s SL Tech has been excluded from the US’ steel tariffs, marking the first case of exemption since the US imposed a quota on Korean steel shipments this May, industry sources said Thursday.The US Commerce Department earlier this week accepted US medical device manufacturer Micro Stamping’s request for a tariff exemption on ultrafine steel tubes imported from Korean steel company SL Tech.Micro Stamping uses ultrafine steel tubes made by SL Tech to produce medical
Sept. 20, 2018