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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Korea to set long-term energy plan by year-end
South Korea will draw out a long-term energy plan by the end of this year, which will spur a shift toward renewable power sources away from fossil fuels and nuclear power, the industry ministry said Friday.The Ministry of Trade, Industry and Energy held a meeting with a working group composed of experts, civic activists and senior officials to discuss the nation's third basic energy plan for the years 2019-2040. (Yonhap)"The energy transformation is a global trend and a path for sustainable fut
Aug. 31, 2018
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[Herald Interview] ‘YESFEZ ready to rise as Northeast Asia’s industrial hub’
As one of South Korea’s leading special economic zones, the Yellow Sea Free Economic Zone is seeking to leap into its next stage of development to become a high-tech industrial complex pivoting on knowledge-based businesses, according to its chief.“Northeast Asia has risen to become one of the world’s top three economic clusters, along with the European Union and the North American Free Trade Agreement,” Lee Hwa-soon, commissioner of the Yellow Sea Free Economic Zone, told The Korea Herald in an
Aug. 30, 2018
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Pyeongtaek BIX to serve as hub of YESFEZ
On July 20, 47,000 square meters of land in the port city of Pyeongtaek, Gyeonggi Province, 65 kilometers south of Seoul, began to be parceled out to companies with foreign ownership that have sought lower expenses in business administration and synergy effect. (Gyeonggi Urban Innovation Corporation)By giving priority in sales of land in its industrial complex to Korean auto part makers and machine manufacturers that had received foreign investment, authorities said Pyeongtaek BIX will serve as
Aug. 30, 2018
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Foreign investment growing in YESFEZ
The Yellow Sea Free Economic Zone in Korea is attracting foreign direct investment with diverse tax benefits and geographical advantages, according to officials on Wednesday.YESFEZ is a special economic zone located near the port of Pyeongtaek in the southwestern part of Gyeonggi Province. Foreign resident companies are provided with 100 percent exemption of corporate tax and income tax for up to seven years, according to the YESFEZ Authority. The authority said it has so far attracted more than
Aug. 30, 2018
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Posco to build 125 houses, public facilities in Indonesia
South Korea’s largest steelmaker Posco will build and repair 125 housing units and public facilities for the next three years in Indonesia as part of its steel village project, the company said Thursday.A total of 150 volunteers consisting of Posco staff and executives, along with members of Posco Beyond, a volunteer group of university students, will take part in the project. Posco’s global volunteer group and residents of the Tegal Ratu village in Cilegon city, Indonesia, pose for a photo. (Po
Aug. 30, 2018
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GS EPS acquires 10 percent stake in US gas power plant
A private power generator under GS Group has acquired a 10 percent stake in a US gas power plant in association with South Korean investors, the company said Thursday.GS EPS bought stakes held by two US funds, Ares EIF Management and Oaktree Capital Management.Under the contract jointly signed by Mirae Asset Daewoo and Hana Alternative Asset Management, GS EPS is to join the boardroom of Linden Cogeneration Complex, a 972 megawatt gas plant in Linden, New Jersey.This marks the first project inve
Aug. 30, 2018
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Shinsegae Duty Free teams up with UnionPay to attract Chinese travelers
Retail giant Shinsegae Group’s duty-free operator Shinsegae Duty Free said Thursday that it has partnered with UnionPay to attract more Chinese travelers and provide an easier payment option. UnionPay, a Chinese financial services company established in 2002, is a major bank card service provider in mainland China. As of last year, up to 16,000 trillion won ($14 trillion) of transactions were made through UnionPay. The UnionPay app, which allows users to pay via QR codes, currently has an accumu
Aug. 30, 2018
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Asiana opens four weekly flights to Barcelona
Asiana Airlines Inc., South Korea's second-largest carrier by revenue, said Thursday that it will launch a new route to Barcelona later in the day as part of its efforts to expand its services in Europe. (Yonhap)The debut service to the Spanish city is set to begin at 12:45 p.m., with the 300-seat B777-200ER being used on the route. The carrier said it will offer flights four times a week -- Tuesdays, Thursdays, Saturdays and Sundays.The new flight adds to Asiana's existing European routes to Fr
Aug. 30, 2018
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Korea strengthens inspections of US beef following mad cow case
South Korea has stepped up sampling inspections of US beef imports following a confirmation of a mad cow case, the government in Seoul said Thursday.The Ministry of Agriculture, Food and Rural Affairs said it has increased sampling inspections carried out on American beef from the current 3 percent to 30 percent, after the discovery of bovine spongiform encephalopathy, commonly known as mad cow disease, from a 6-year-old cow in Florida.The inspection involves opening the package, defrosting the
Aug. 30, 2018
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Daewoo E&C selected for nuclear project in Czech, Poland
A consortium of Daewoo Engineering & Construction and Doosan Heavy Industries & Construction was selected for new nuclear power plant projects in the Czech Republic and Poland, pushed by state-run nuclear operator Korea Hydro & Nuclear Power, according to Daewoo on Wednesday. The consortium was selected after a weeklong screening of its business proposal based on prequalification (60 points) and the business development plan (40 points). The prequalification is based on capability for business p
Aug. 29, 2018
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[Advertorial] Kumho Petrochemical strengthens workspace safety
Kumho Petrochemical is strengthening the management system for workspace safety, viewing that safe distribution, storage and use of chemical substances are critical for a company handling chemical substances.An employee inspects a safety management system. (Kumho Petrochemical)The company adopted a chemical management system in 2016 to better systematically monitor the entire workplace. Once raw materials, such as butadiene or styrene monomer used for synthetic rubber and synthetic resins, enter
Aug. 29, 2018
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Health care, mobility to take center stage in ASEAN region: experts
Southeast Asia is expected to see greater demand for health care services, for services that increase the mobility of its populations, and for entertainment, experts said Wednesday, attributing these trends to the rise of the middle class in the region and to its relatively young populations.At the ASEAN-Korea Business Forum in Singapore, Manoj Menon, the Asia-Pacific managing director of Frost and Sullivan, talked about the region’s significant market potential and said he saw a growing number
Aug. 29, 2018
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Prosecutors demand 14-year jail term for Lotte chief
Prosecutors on Wednesday demanded an appeals court sentence Lotte Group Chairman Shin Dong-bin to 14 years in prison on charges of bribery and other irregularities.They also demanded the court order him to pay a 100 billion-won ($90 million) fine and forfeit 7 billion won. Shin is serving a 30-month jail term on the bribery conviction in connection with a massive corruption scandal involving ousted President Park Geun-hye and her friend, Choi Soon-sil. The lower court in February found Shin guil
Aug. 29, 2018
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Medytox files BTX drug ‘Medytoxin’ for approval in Taiwan
South Korean biopharma company Medytox said Wednesday that it had submitted a biologics license application for its type A botulinum toxin drug, Medytoxin, to the Taiwan Food and Drug Administration. Medytoxin has been filed for approval under the name Neuronox in Taiwan. If approved, the BTX product will be marketed locally by Medytox Taiwan, a joint venture between Medytox and Dynamic Medical Technologies, a Taiwanese medical equipment company with a specialty in aesthetic lasers.Neuronox woul
Aug. 29, 2018
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Asiana Airlines donates to school in Uzbekistan
South Korean air carrier Asiana Airlines has renovated a school in Uzbekistan capital Tashkent and supplied classroom equipment for local students, according to a firm Wednesday. Asiana Airlines officials, Uzbekistani authorities and students pose for a photo after a reopening ceremony for a renovated school in Tashkent, Uzbekistan, Tuesday. (Asiana Airlines)It was part of the airline’s “Beautiful Classroom” project, a corporate outreach campaign the company began in 2012 to improve the educati
Aug. 29, 2018
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Hyundai E&C’s Hillstate Samsong Skansen to go on sale
Hyundai Engineering & Construction, the main construction unit of Hyundai Motor Group, will begin sales of 2,513 units of Hillstate Samsong Skansen in Goyang, Gyeonggi Province, from Friday, the company said Wednesday.Hyundai E&C said that it intends to include elements of the Scandinavian lifestyle in the complex, hence the use of Skansen, the name of a museum in Stockholm, Sweden. The planned Hillstate Samsong Skansen development. (Hyundai E&C)Hillstate Samsong Skansen spans 180,000 square met
Aug. 29, 2018
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Golfzon Newdin acquires Leadbetter Golf Academy
Golfzon Newdin, holding company of a leading indoor golf simulator franchise, has acquired 100 percent of shares in Leadbetter Golf Academy, a US-based institute founded by legendary golf coach David Leadbetter, the company said Wednesday.Launched in 1983, the academy operates 37 institutes in 13 countries around the world, with certified coaches trained by Leadbetter himself.By acquiring LGA, Golfzon Newdin will bring golf lessons into a new level by integrating the institute’s coaching knowhow
Aug. 29, 2018
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Celltrion to seek Europe approval for Remsima SC by year’s end
South Korean biopharma company Celltrion said Wednesday that it has concluded all clinical trials for its subcutaneous (SC) version of Remsima, and is scheduled to seek approval for the drug from European drug regulators by the year’s end.Celltrion said it had concluded phase 3 clinical trials for Remsima SC and is now preparing to submit the drug for approval to the European Medicines Agency in the latter half of the year. Celltrion employees are seen in an R&D lab at the company's headquarter
Aug. 29, 2018
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Binggrae “sizes up” coffee brand to boost sales
Binggrae, a South Korean food and beverage company, said Wednesday that it had introduced “sized-up” versions of its popular coffee drinks to boost sales and exports.The A Cafe la brand drink, called Size Up and available in flavors Americano, sweet Americano, cafe latte and vanilla latte, is 350 milliliters “to offer good taste with better affordability.” A Cafe la`s Size Up (Binggrae)The Americano drinks contain coffee beans from Brazil and the latte drinks contain coffee beans from Colombia,
Aug. 29, 2018
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[Advertorial] Samsung fills educational gap with technology
South Korean tech titan Samsung Electronics has set its ultimate goal of outreach to make a “healthy society” by narrowing the educational gap among society members. Since the establishment of its community service organization in 1995, the company has carried out various projects to serve those in need of educational support. A student delivers a presentation using an electronic board and Galaxy Note smartphone provided by Samsung Electronics at Korea Food Service Science High School last year
Aug. 29, 2018