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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Debit card spending in S. Korea surges in H1
Daily debit card spending in South Korea jumped in the first half of this year on the back of state tax benefits and other incentives, central bank data showed Wednesday.The average amount of daily transactions processed through debit cards came to 491 billion won ($439.76 million) in the January-June period, up 7.1 percent from a year earlier, according to the Bank of Korea.The figure has been on a constant rise over the past several years, as consumers can enjoy diverse benefits including an e
Sept. 5, 2018
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Online shopping purchases hit record high in July
Purchases made using the Internet and mobile devices in South Korea reached an all-time high in July, government data showed Wednesday, demonstrating the popularity of smartphones, fast delivery and convenient payment options offered to local shoppers.The total value of transactions made with computers, smartphones and tablets reached a record 9.45 trillion won ($8.45 billion) in July, up 22.7 percent, or 1.75 trillion won, from a year earlier, according to the data from Statistics Korea. (Yonha
Sept. 5, 2018
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Uber Eats signs partnership with CJ Foodville
US food delivery app Uber Eats said Wednesday that it has signed a partnership with South Korean food service company CJ Foodville in the latest move to boost its presence in the country's growing food delivery market.Uber Eats said major CJ Foodville brands, such as VIPS, Cheiljemyunso, The Place and Juice Solution, would be easily accessible through its app in Seoul, a heavily populated city with a population of some 10 million. (Yonhap)Eight out of 10 South Koreans use smartphones, and they i
Sept. 5, 2018
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[Doing Biz in Korea] Bosses have names too: Breaking through Korea’s hierarchical work culture
The Korea Herald is publishing a series of features and interviews on South Korea’s business environment for foreign companies and investors. This is the tenth installment. -- Ed.Korea’s discipline-oriented work culture was an important factor in the nation’s impressive growth, but now it needs to give way in favor of creativity and flexibility as the country becomes more all-inclusive in terms of industries and cultures, according to a representative of European companies doing business here. “
Sept. 4, 2018
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[News Focus] Revised FTA to curb overuse of legal dispute by foreign investors
Korea’s revised free trade deal with the US unveiled by the government late Monday included the revision of investor-state dispute settlement, in a move to curb the excessive use of lawsuits by foreign investors against the government. This may prevent the Korean government from being embroiled in legal disputes similar to those raised by Elliott and Schindler Holding AG, according to industry watchers.ISDS is a system through which investors can sue countries for alleged discriminatory practice
Sept. 4, 2018
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Tonymoly collaborates with Samyang’s Buldak Spicy Chicken Ramen
South Korean cosmetics company Tonymoly said Tuesday that it will launch this Friday new limited edition products in a collaboration with Samyang Food’s Buldak Spicy Chicken Ramen. According to the company, the limited edition is based on Samyang’s signature instant noodle Buldak Spicy Chicken Ramen packaging and the character. Advertisement for Tonymoly’s Buldak Spicy Chicken Ramen special edition (Tonymoly)Buldak refers to grilled chicken marinated in a super-spicy red chili paste, as it tran
Sept. 4, 2018
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[On the Bar] Need for 52-hour workweek, room for improvement
On the Bar is a regular column written by attorneys with Yoon & Yang LLC about laws and regulations that affect businesses in Korea. The content provided here is general legal information. -- Ed.On March 20, 2018, the revised Labor Standards Act was promulgated. As a result, the maximum number of working hours per week was cut to 52, with fewer exemptions than before. The revisions also addressed overtime pay rates. The most important change was the restriction on the maximum number of working
Sept. 3, 2018
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Posco to hire 20,000 new staff, invest W45tr in new growth areas
South Korea’s No. 1 steelmaker Posco will invest 45 trillion won ($40.5 billion) over the next five years from 2019 in its steel, secondary battery materials and clean energy businesses, creating some 20,000 jobs in the process, the company said Monday.The plan was the first major investment announcement by the company’s ninth Chairman Choi Jeong-woo, who took office in July. “To lead the global steel industry and to become a pioneer in the manufacturing industry in the fourth industrial revolut
Sept. 3, 2018
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[Advertorial] Samsung Electronics expands community projects
Samsung Electronics is expanding its corporate social responsibility projects targeting local communities to achieve sustainable development and promote the raising of funds for a good cause. The Nanum Walking Festival is one of the company’s projects aimed at helping the community. Under the program, the company donates the same amount of money donated by participants of the event. Since 2013, a total of 15,700 people have participated in the annual event held in various parts of the country, r
Sept. 3, 2018
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LG Hausys turns recycled plastic bottles into furniture film
LG Hausys, a housing material manufacturer, has developed adhesive furniture wrap from recycled plastic bottles in its latest effort to produce eco-friendly materials, the company said Monday.Furniture film is a finishing material applied to products with wooden, marble and metal surfaces. Furniture wrap made from recycled plastic bottles is displayed. (LG Hausys)The idea of turning recycled plastic bottles into furniture film had existed in the market, but manufacturers had failed to solve prob
Sept. 3, 2018
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Han Sung Motor renews website for art scholarship program
Han Sung Motor, the largest dealer of Mercedes-Benz in South Korea, has revamped a website launched by the company to support art prodigies here, the company said Monday.The online platform for Han Sung’s Dream Gream project (www.dream-gream.co.kr) introduces artworks by aspiring artists.The renewed site shows how students develop their art skills through mentoring programs arranged by Han Sung Motor, officials said. The website also displays a collection of art pieces by professional artists an
Sept. 3, 2018
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WeWork opens 10th location in Korea, marks 2nd anniversary
WeWork, the world’s largest provider of co-working spaces, opened its 10th location in Seoul on Monday, further expanding its presence in South Korea, while marking the company’s second anniversary in the country. The 10th WeWork office in Korea is located at Jongno Tower in central Seoul and is the fourth of its kind to open in the Gangbuk region north of the Han River, after WeWork’s offices in Euljiro, Gwanghwamun and Seoul Square near Seoul Station. WeWork Jongno Tower can accommodate more
Sept. 3, 2018
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Hyundai partners with China energy group in commercial car JV
Hyundai Motor Co. said Monday it has partnered with a Chinese energy group in a commercial vehicle joint venture. At its Seoul headquarters Monday, South Korea's biggest carmaker by sales signed a "strategic partnership" agreement with Sichuan Energy Industry Investment Group to expand into the Chinese commercial vehicle market, the company said in a statement. The Chinese energy company has acquired a 50 percent stake in Sichuan Hyundai, the 50:50 joint venture previously set up between Hyundai
Sept. 3, 2018
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Korea steelmakers ask for exception from US import quota
South Korea's major steelmakers have called on the US government to exclude some of their products from the 70 percent US steel import quota, industry sources said Monday.POSCO-AAPC, the automotive steel cutting plant of South Korea's leading steelmaker POSCO based in the US, has recently asked the Department of Commerce to give an exception to grain-oriented electrical steel products it imports from POSCO's plants in Korea from the limit, a POSCO official said over the phone. (Yonhap)POSCO-AA
Sept. 3, 2018
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Z-POP Dream to use blockchain to discover next K-pop star
Z-POP Dream, a global entertainment platform headquartered in South Korea, said Friday it would make use of blockchain technology to discover the next K-pop superstar and build infrastructure in the pop music scene. Z-POP Dream, set up by veteran music industry expert Jun Kang, is the first platform of its kind that seeks to establish a global entertainment ecosystem to better discover hidden pop music talent, according to the firm.The company said the use of blockchain technology will accelerat
Sept. 2, 2018
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More than 70% of S. Korean firms have larger hiring plan for 2018: poll
More than 7 out of 10 large companies in South Korea have plans to hire more or similar numbers of people in 2018 from a year earlier, a survey showed Sunday.Out of 122 firms with 300 employees or more, 122, or 51.6 percent, answered that they will recruit as many people as last year, with 23.8 percent having bigger hiring plans, according to the Korea Economic Research Institute, citing the poll conducted by Research & Research Inc.The same finding, however, showed 24.6 percent of the firms are
Sept. 2, 2018
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Time still on Samsung's side to improve ownership structure: FTC chief
Samsung Group, the country's top conglomerate, still has time to improve its ownership structure, and it's the matter of whether the group's de facto leader Lee Jae-yong will do it or not, the head of the nation's corporate watchdog has said.Last week, the Fair Trade Commission proposed a revision to the antitrust law under which a new holding company is required to own more than 30 percent of a listed affiliate and more than 50 percent of an unlisted affiliate, 10 percentage points higher than
Sept. 2, 2018
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Paris Baguette launches mobile delivery service
Paris Baguette, a bakery chain operated by Korean food giant SPC Group, will begin mobile delivery service from Saturday, the firm said Friday. Customers can order on SPC Group’s own Happy App or food delivery app Yogiyo, in addition to e-commerce channels G-Market or Auction. Paris Baguette launches its delivery service. (SPC)Products ranging from cakes to bread and sandwiches can be delivered from 1,100 stores across the country, the firm said. It plans to eventually roll out the service for
Aug. 31, 2018
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Namyang Dairy products become available at China’s Herma Shenzu
South Korean dairy manufacturer Namyang Dairy’s products have hit the shelves of Chinese wholesale market Herma Shenzu, part of Alibaba Group, the company said Friday. Herma Shenzu, established in 2016, is a new distribution channel operated by the e-commerce giant Alibaba Group. The markets quickly gained attention by integrating online and offline logistics for fresh foods: When a customer places an order online, an employee from the closest store delivers the product to the customer’s doorste
Aug. 31, 2018
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Korea's industrial output rebounds in July
South Korea's industrial output rebounded in July from a month earlier, helped by a rise in petrochemical production, government data showed Friday. Production in the mining, manufacturing, gas and electricity industries rose 0.4 percent on-month in July, following an adjusted 0.7 percent on-month fall in the previous month.From a year earlier, industrial output also climbed 0.9 percent, following a 0.4 percent on-year dip in June.Production in the service sector remained unchanged last month, w
Aug. 31, 2018