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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Coldplay to celebrate release ‘Moon Music’ with Han River drone show
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Moon touts Samsung's cooperation with Indian firms
On his state visit to India, one of the highlights of South Korean President Moon Jae-in’s schedule was his visit to Samsung Electronics’ newest smartphone plant in Noida. Joined by Indian Prime Minister Narendra Modi, Moon touted the Korean tech titan’s cooperation with local businesses.Samsung’s heir apparent Lee Jae-yong greeted the two leaders ahead of a ceremony held to mark the completion of the new production line. Around 300 government officials of both countries and top brass of Samsung
July 9, 2018
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Posco strongly refutes accusations against chairman-nominee
Posco said Monday that it will take legal actions against a former employee who has been at the center of a group accusing its chief nominee over alleged embezzlement and dereliction of duty. The steelmaker, in a rare statement, said the former worker who identifies himself as a whistleblower, was spreading false information, defaming not only the chairman-designate but also everyone at Posco. The company will file both a civil and criminal suit to the prosecution against him, saying the former
July 9, 2018
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Hyundai Glovis director for shareholder rights to attend NDR
Hyundai Glovis’ outside director for shareholder rights protection will be present at the company’s non-deal road show held for major institutional investors overseas in Singapore and Hong Kong this week, the company said Monday.The latest move comes amid Hyundai Motor’s groupwide efforts to improve communication with the market, and as Glovis struggles to see its stock value rebound. Hyundai Glovis, the logistics unit of Hyundai Motor Group, had been at the center of the group’s spinoff merger
July 9, 2018
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[Management in Korea] Executive coaching: A powerful tool for raising performance
Management in Korea is a regular column written by the members of Egon Zehnder Seoul, touching on various aspects of Korean enterprises and business leaders and offering management tips. -- Ed.In a time of continuous disruption and successive waves of new business models, it not uncommon for senior executives to discover that leadership approaches that worked in the past are no longer as effective as they once were. But when a Korean CEO or other top leader needs to adopt a different mindset or
July 9, 2018
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NK’s trade volume fell 15% due to sanctions: report
North Korea’s trade volume fell 15 percent last year on-year to reach $5.5 billion due mainly to stronger sanctions imposed by the United Nations Security Council, according to state-run Korea Trade-Investment Promotion Agency on Monday. According to the KOTRA report, North Korea’s export volume stood at $1.7 billion last year, a 37.2 percent fall from the previous year, and imports came to $3.7 billion, a 1.8 percent rise, during the same period. Its trade deficit rose 125.5 percent to $2 billi
July 9, 2018
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Ministry lauds LX in appraisal of public bodies
South Korea‘s state-owned Land and Geospatial Informatrix Corporation (LX) said Monday it won high ratings in a performance evaluation on Korean state-owned enterprises and quasi-public institutions for its “public-friendly” policies in 2017. LX headquarters in Jeonju, North Jeolla Province (LX)Of 123 institutions assessed by the Ministry of Strategy and Finance, the LX was one of the three in Korea that earned grade A in evaluation both on a curve and by absolute values, according to the state-
July 9, 2018
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S-Oil delivers W100m to food truck entrepreneurs
S-Oil delivered 100 million won ($89,900) to young entrepreneurs operating food trucks across the country via a newly launched program, the company said Monday. The 40 teams -- 25 from metropolitan regions and 15 from elsewhere -- were selected to receive oil gift certificates worth 2 million won each. S-Oil CEO Othman al-Ghamdi (center) poses with young entrepreneurs selected to each receive 2 million won in oil gift certificates in Yeouido, Seoul, Monday. (S-Oil)Food truck entrepreneurs under
July 9, 2018
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Korean SMEs’ exports to Asia-Pacific markets continue to grow: FedEx
FedEx Express, a subsidiary of the courier delivery services company FedEx, said Monday that South Korean small and midsized enterprises’ export volume in Asia-Pacific countries has increased significantly in recent years, citing its survey. A FedEx Express employee delivers a parcel to a customer. (FedEx)According to the survey conducted on some 500 SMEs here from March toApril, 67 percent of them have shipped products to Asia-Pacific countrieincluding China, Japan and Vietnam. Among them, 22
July 9, 2018
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Asiana, Korean Air employees hold joint rally against their bosses
Hundreds of staff from South Korea‘s two rival air carriers held a rare joint rally late Sunday, blaming the companies’ top management for causing scandals that have evoked huge public outrage. More than 400 employees of Asiana Airlines Inc. and Korea Air Lines Co. gathered in central Gwanghwamun to stage a rally condemning their chiefs Park Sam-koo and Cho Yang-ho, respectively.(Yonhap) Asiana staff denounced Park and his executives for massive in-flight meal service disruptions that led over
July 8, 2018
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SK Innovation’s valuation rises ahead of new sulfur cap
SK Innovation, South Korea’s leading oil refiner, has bolstered its value and profit model with a desulfurization project underway in Ulsan and its ultra-low sulfur production business in Singapore, before stricter environmental regulations by the International Maritime Organization go into effect in 2020, industry experts said Sunday. The International Maritime Organization passed a regulation in 2016 to limit the amount of sulfur in ship fuel to 0.5 percent starting January 2020 from the curre
July 8, 2018
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[Photo News] Korea sees record grain price hike in 2018 H1
RECORD GRAIN PRICE HIKE – A shopper looks around the grain section at a supermarket in Seoul, Sunday. On the day, Statistics Korea said that the country’s average grain price increased 19.8 percent in the first half of 2018, compared to the same period the previous year. It marks the biggest hike in grain prices since the state-run statistics agency began tracking the figures. (Yonhap)
July 8, 2018
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[Newsmaker] Shares of Asiana, Korean Air dive on owner family misconduct
The summer vacation season is traditionally a boon for the airline industry. But South Korea’s major airline companies are far from cruising, as their stocks have been plunging along with their brand power due to personal and business irregularities allegedly committed by the owner families. Asiana Airlines, one of Korea’s two major air carriers run by the Kumho Asiana Group, has seen its shares plummet since the recent “no-meal” fiasco erupted, jeopardizing the firm’s standing and igniting prot
July 8, 2018
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[Video] Samsung heir leaves for India with two missions
Samsung Electronics’ heir apparent Lee Jae-yong departed for India on Sunday with two major tasks: recover relations with the Moon Jae-in government and lay groundwork to further expand in the Indian smartphone market. The highlight of Lee’s trip to India will be his meeting with President Moon -- who also left Sunday for a state visit to the country and Singapore for six days. They will be face to face at a ceremony on Monday to mark the completion of Samsung’s newest factory for smartphones in
July 8, 2018
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[IP in Korea] 'Cosmax’s patent nullity win against Amorepacific was technical'
The Korea Herald is publishing a series of interviews with experts in the intellectual property sector. This is the 19th installment. -- Ed. Combining foundation makeup with skincare in an innovative easy-to-apply package, cushion compacts have been identified by some as the biggest game-changer in the cosmetic industry in recent years, as well as the top contributor to the rise of Korea’s cosmetics exports.The leader of the innovation was South Korea’s largest cosmetics manufacturer, Amorepacif
July 8, 2018
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E-Mart to upgrade chairs for cashiers behind counter
E-Mart will upgrade work chairs for cashiers at the counter. The South Korean supermarket chain will roll out the new chairs, which are 77 centimeters in height with a 23 centimeter tall back, next week.Beginning with the Uijeongbu location on July 16, the new measure will equip all E-mart stores across the country with the upgraded business furniture by August. (E-Mart)The moves comes as the retail giant seeks to ensure a better working environment at its over 140 stores, as the taller chairs w
July 8, 2018
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[Trending] Amazon starts free shipping service to Korea?
Speculation of a rumored free shipping service to South Korea for online mega retailer Amazon hit social media platforms here Friday.The sudden interest in Amazon spiked as some Korean consumers claimed a “Free Amazon Global Shipping” option is being activated on the US Amazon website for orders totaling more than $90. (Screencaptured from Amazon website)According to a local media report, the free shipping option would be limited to Amazon’s private label products. There has been no official an
July 6, 2018
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Asiana Airlines workers hold protest over ‘no-meal fiasco’
Workers at Asiana Airlines, one of the two major air carriers here, held a candlelight vigil on Friday, holding the company‘s management responsible for a massive disruption to the carrier’s in-flight meal service and allegedly seeking profits in the interest of the owner family.Wearing black clothes, and the Guy Fawkes mask, a group of unionized workers at Asiana gathered in Gwanghwamun, central Seoul, at 6 p.m. More than 300 people are expected to attend. They plan to hold another rally on Sun
July 6, 2018
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LG Innotek unveils LED lineups for smart farming
LG Innotek, a South Korean manufacturer of optical electronic parts, has unveiled a full lineup of LEDs generating light sources that grow plants faster than the natural sunlight.Named “Horticulture LEDs,” the products are a semiconductor light source that can control plant growth rates and increase the nutrient content of the crop by using the light of a specific wavelength, the company said in a statement. “This product was developed considering the characteristics that the physiological respo
July 6, 2018
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[Eye Plus] Beating summer heat at goblin markets in Seoul
There are various ways to help beat the sweltering summer heat in Korea; swimming in the sea, eating hot boiled chicken soup, and camping along the Han River are some options. But shopping at goblin markets seems to be gaining in popularity. Officially called “Seoul Bamdokkaebi Night Market,” it is a night market event organized by the Seoul Metropolitan Government. Visitors to the night market, which are open Fridays and Saturdays from March to October, can enjoy foods from around the world, sh
July 6, 2018
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Samsung growth slows as smartphone sales fall
Samsung projected on Friday that it generated 58 trillion won ($51 billion) in sales and 14.8 trillion won in operating profits in the second quarter, the first quarter-on-quarter fall in seven quarters. The decline came from weak smartphone sales despite record high chip earnings, according to analysts. Although the tech behemoth’s earnings are expected to rebound in the third quarter due to the rise of chip demand, the company’s long-term outlook does not look rosy. The tech firm’s market lead
July 6, 2018