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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Samsung's operating profit up 5.19% in Q2
Samsung Electronics Co. said Friday its second-quarter operating profit advanced 5.19 percent from a year earlier, but it failed to post record-breaking earnings apparently due to weaker-than-expected smartphone sales.Operating profit for the three-month period came to 14.8 trillion won ($13.2 billion), compared with 14.07 trillion won reported a year earlier, the company said in its earnings guidance report.Sales came to 58 trillion won, down 4.92 percent on-year.The second-quarter operating pr
July 6, 2018
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President Moon to attend ceremony for Samsung Electronics’ India plant
South Korean President Moon Jae-in will attend a ceremony to mark the completion of Samsung Electronics’ new smartphone plant in India next week, according to Cheong Wa Dae.The president, who is to pay a state visit to the country from July 8 to 11, will be joining the tech titan‘s celebration on Monday, an event to take place at its new smartphone production facility in Noida, a planned city in the northern state of Uttar Pradesh, a Blue House official confirmed Thursday.The official added Sams
July 5, 2018
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[Herald Interview] ‘Korea Forest Service to play key role in antidesertification’
Desertification and the consequent level of air toxicity in nearby countries have had their impact on South Korea, forcing schools to close for several days and deterring citizens from outdoor activities. Under a long-term goal to tackle such climate concerns, Seoul’s government is determined to contribute to the global community‘s blueprint to fight desertification and drought, according to the chief of the country’s forest service.“I believe that we can help create global consensus that forest
July 5, 2018
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Korea, UNCCD host global forum to support land degradation neutrality
South Korea’s government and the United Nations Convention to Combat Desertification jointly hosted an inaugural forum this week to discuss how the international community can best cooperate to achieve land degradation neutrality. Organized by the state-run Korea Forest Service, the Global LDN Forum took place in Seoul on Wednesday and Thursday, inviting officials from environment-focused international organizations, policymakers and academics to discuss ways to strengthen global LDN implementat
July 5, 2018
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Presidential plane bid to open as Code One lease contract nears end
With South Korean leader Moon Jae-in entering the second year of his presidency, he has traveled overseas 11 times since he took office, via a “borrowed” Boeing 747-400.Also called Code One -- the official name of the Republic of Korea Air Force aircraft carrying the president -- the 19-year-old model’s lease contract expires in March 2020. Code One, a Boeing 747-400 plane for South Korean President Moon Jae-in. (Korean Air)The country’s top two air carriers Korean Air and Asiana Airlines are h
July 5, 2018
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IIAC’s expertise delivers Kuwait’s newest airport terminal
KUWAIT CITY -- Kuwait International Airport held a building completion ceremony to celebrate the opening of its new terminal on Wednesday, taking a step closer to become an aviation hub in the Middle East.And behind the grand opening, Incheon International Airport Corporation was there to pass on its expertise and knowhow. Incheon International Airport Corporation CEO Chung Il-young (left) is greeted by Kuwait Airways CEO Yousef Al-Jasem (right) during the event to celebrate the building comple
July 5, 2018
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Court bans ex-Samsung worker from relocating to Chinese firm
A local court banned a former worker of Samsung Display Co. from relocating to a Chinese firm on Thursday, claiming the restriction is needed to protect sensitive technologies.The Suwon District Court upheld the request made by Samsung Display to ban a former researcher from getting a new position at a Chinese company, and ruled the defendant should not relocate to Samsung's rivals and their subcontractors for two years.The court added the defendant must compensate Samsung Display 10 million won
July 5, 2018
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Posco Daewoo contributes to medical volunteer work in Indonesia
Posco Daewoo, the energy development unit of steelmaker Posco, will conduct medical volunteer work helping about 1,000 residents in Indonesia, the company said Wednesday.Together with 20 Korean and local medical staff, some 40 employees of Posco Daewoo will provide health check-ups and health education to residents in Indonesia’s eastern province Papua until July 8.Volunteers will provide education on pregnancy and other topics, the company said. Employees of Posco Daewoo support medical volunte
July 4, 2018
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[Newsmaker] Kumho chairman under siege over ‘no-meal’ fiasco, alleged profiteering
The chairman of Kumho Asiana Group, which owns the nation’s second-largest air carrier, apologized Wednesday for causing public concern amid escalating controversy over operating passenger flights without meals and a questionable deal behind it.Offering an official apology, Chairman Park Sam-koo said he was sorry for causing concern and that he feels “grave responsibility” for causing customer inconvenience.Kumho Asiana Chairman Park Sam-koo seen at a press conference held at the group's head of
July 4, 2018
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Most chaebol heirs study abroad
Over half of children of major South Korean business group owners went to a university abroad, a new report has revealed.The report released by the business rating site CEO Score on Wednesday showed that nearly 53 percent of children from owner families of the top 100 conglomerates, who are also involved in management, have graduated from a university outside Korea.The site found most chaebol heirs receive higher education abroad after analyzing 114 out of 157 children whose academic records wer
July 4, 2018
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Asiana Airlines ‘inflight-meal chaos’ falls into deeper quagmire
Controversy escalated Tuesday over some flights of major South Korean air carrier Asiana Airlines not providing inflight meals, not only for causing inconvenience to passengers but also on allegations of a questionable deal.(Yonhap)The air carrier’s catering service for some international routes got suspended Friday, citing a fire that had broken out at a plant of its new supplier Gate Gourmet Korea in March, according to local reports that quoted officials involved in the matter. To fill the la
July 3, 2018
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S. Korea faces second legal battle from US fund over Samsung merger
Korea's government is facing another investor-state dispute lawsuit from a US fund over a controversial merger of two Samsung Group companies in 2015. The Ministry of Justice said in a release on Tuesday that it has received a notice of intent from Mason Capital Management, seeking $175 million in compensation for losses incurred from its investment in Samsung C&T Corp., after it merged with Cheil Industries Inc. It is the second proposal of arbitration offered to the government by a US investor
July 3, 2018
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FTC warns tougher rules on holding firms reliant on intragroup dealings
South Korea’s antitrust watchdog said Tuesday it found 18 holding companies of conglomerates generated income more from brand royalties, rental properties and consulting fees than dividend income. The main source of holding companies’ income should be dividends from their affiliates but they generated income from other sources for the benefit of their controlling families and as a means to tighten their grip on power, according to the Fair Trade Commission. (Yonhap)The FTC found holding compan
July 3, 2018
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Korea sets guidelines for medical devices employing VR, AR technologies
South Korea’s Ministry of Food and Drug Safety has set official approval guidelines for medical devices that use virtual reality and augmented reality technologies, setting a clearer development path for companies working to commercialize new products in this emerging space. The Drug Ministry on Monday released a new regulatory guidebook laying down the definition and elements of VR and AR-based medical devices as well as approval standards, in the hope of expediting new related product developm
July 3, 2018
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Korea’s NongHyup Bank improves financial services through SAS analytics tech
Faced with stiff competition in financial services, banks around the world have been striving to maximize their operational efficiency and customize services using digital analytics technologies.Capitalizing on this demand is SAS, a US analytics software firm that has been providing banks with high-powered analytics capabilities to help them provide more personalized services to their clients. One example is South Korea’s NongHyup Bank, one of the country’s largest lenders with more than $250 bi
July 3, 2018
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Passengers slam Asiana Airlines service
Passengers traveling via Asiana Airlines on Sunday and Monday had to endure unexplained departure delays stretching up to five hours, subsequently followed by a journey without in-flight meals. On Sunday, 36 Asiana flights took off without meals and 51 flights were delayed out of the 80 planes scheduled for the day. The next day, 18 flew without meals and 20 were delayed out of 75 flights, according to the tally by Asiana Airlines.Angry comments from hungry passengers took online platforms by st
July 3, 2018
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Hyundai Motor's India sales to top 500,000 units this year
NEW DELHI - Hyundai Motor Co.'s sales in India are expected to exceed the 500,000-unit mark for a third year in 2018 thanks to its diversified lineup, industry watchers said Tuesday.Hyundai Motor, South Korea's top automaker, sold 229,765 vehicles in the Indian market between January and May this year, up 6.4 percent from a year earlier, according to data from the Society of Indian Automobile Manufacturers.Hyundai Motor posted the second-highest market share of 15.8 percent in Asia's third-large
July 3, 2018
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Samsung, SK hynix to hand out large bonuses amid robust chip sales
South Korean chipmakers are expected to pay large bonuses to their workers this month amid the prolonged boom in the global semiconductor market, corporate sources said Tuesday.Samsung Electronics Co. told its workers that the company will provide target-achievement incentives, handed out every six months, this week. The amount depends on the performance of each division, and can reach up to 100 percent of an employee's monthly salary.Corporate sources said the chip division received a full bonu
July 3, 2018
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[Herald Interview] Honeywell taps deeper into Korean aviation market
US aircraft solutions provider Honeywell is tapping deeper into the growing Korean aviation market with its new connected aircraft and flight efficiency solutions that help save fuel costs. In the last five years, Korea’s air traffic has increased by an average of 6.9 percent per year, outpacing the global average of 5.6 percent, according to government data. Honeywell expects this growth to be sustainable, as Korea is focusing on attracting more visitors to the country. “South Korea remains a p
July 2, 2018
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Korea Inc. put to test under shorter working-hour system
Shorter working hours kicked off nationwide Monday, testing both the competiveness and productivity of Korea Inc., which has long relied on a workforce that puts in long hours for its dramatic growth. Marking a significant change in the nation’s labor market, after the five-day workweek was adopted in 2004, the new system requires workers to work less than 52 hours a week. It has taken effect for large businesses with more than 300 employees for now. Smaller businesses with fewer than 300 worker
July 2, 2018