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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Posco taps Posco Chemtech CEO Choi Jeong-woo as new chairman
South Korea’s largest steelmaker Posco announced Saturday that it has named Choi Jeong-woo, CEO of Posco Chemtech, as its new chairman. The company’s board of directors voted to nominate Choi for the chairman post at next month’s extraordinary shareholder’s meeting, during a meeting held Saturday, according to Posco.As a result, Choi is set to assume his new post after a special shareholder meeting and board approval on July 27. The Posco Chemtech CEO had been one of five final candidates nomin
June 23, 2018
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[Herald Interview] Young, dynamic and connected -- ASEAN offers endless opportunities for Korea
Southeast Asia can offer market and business opportunities to South Korea with its young, digitally connected and growing middle class in return for Korea’s sharing of its quickly developed economic strategies, according to a high-ranking official from the Association of Southeast Asian Nations Economic Community. “Korea will benefit from ASEAN’s dynamism, creativity and growth potential, as the regional production networks are fast expanding,” said Aladdin D. Rillo, deputy secretary-general for
June 22, 2018
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FTC chief dismisses rumor about power struggle with prosecution
The nation’s antitrust watchdog chief underlined that prosecutors’ recent raid of the Fair Trade Commission is unrelated with the FTC’s move to overhaul its fair trade law, which includes the abolition of its exclusive right to charge businesses. “Following the raid by the prosecution, there have been news reports that imply conflicts between the prosecutors and the FTC, spreading unnecessary rumors,” FTC chief Kim Sang-jo said in a statement Friday. “Prosecutors’ latest investigation targets th
June 22, 2018
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Posco reveals five finalists for next chairman position
South Korea’s largest steelmaker Posco on Friday announced its shortlist of five final candidates for the group’s chairman position.The list comprises the group’s incumbent and former top officials, including Posco Daewoo CEO Kim Young-sang, former Posco Chief Operating Officer Kim Jin-il, incumbent President and COO Oh In-hwan, Vice President Chang In-hwa and Posco Chemtech CEO Choi Jung-woo, according to the company. From left: Posco Daewoo CEO Kim Young-sang, former Posco Chief Operating Offi
June 22, 2018
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Foreign whiskey makers struggle amid sluggish sales
Foreign liquor companies in Korea are increasingly reeling from plunging sales in recent years, data showed Friday.According to global liquor research institute IWSR, South Korea’s whiskey sales recorded 1.66 million boxes last year, a fall of about 1.18 boxes from 2007. For whiskey, a box equals to 9 liters of liquor. By whiskey type, sales of blended Scotch whisky -- Ballentine's, Johnnie Walker, Royal Salute -- saw the biggest drop. Since 2007, the sales volume has decreased by more than 60 p
June 22, 2018
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Microbiologists seek energy solutions at Daesung forum
Members of academia and businesses gathered in Seoul on Thursday to discuss how to tackle environment and energy problems through microbial waste management at the 2018 Daesung Haegang Microbes Forum.With the theme of “From Waste to Energy,” the forum was attended by around 120 participants. It is aimed at having experts contribute to the joint development of both the environment and energy fields through discussions about the technical challenges and potential commercialization of cutting-edge
June 21, 2018
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[Herald Interview] Taking global Starbucks phenomenon to next level
For Major Cohen, coffee changed his life as he approached mid-age.“I began working as a part-time barista in 1995, for a team that was opening a new store in Boston. It was when I was 45 years old,” Cohen told The Korea Herald at a Starbucks Korea’s The Jongno branch in downtown Seoul. At 1,097 square-meters, it is the biggest Starbucks store in Korea and was designed to do much more than simply serve coffee. Starbucks’ global ambassador Major Cohen speaks during an interview with The Korea Her
June 21, 2018
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L'Oreal completes acquisition of Korean online retailer Nanda
French cosmetics giant L'Oreal said Thursday it has completed the acquisition of one of South Korea's leading online retailers amid a rise in the global popularity of K-pop and Korean beauty items.Last month, L'Oreal announced it will wholly purchase the makeup and fashion company Nanda Co., marking the French firm's first takeover of a Korean firm. The transaction price was not disclosed."After obtaining the necessary authorizations from the relevant authorities, L'Oreal has finalized the acqui
June 21, 2018
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Samsung BioLogics earns first manufacturing approval from Health Canada
South Korean contract drug manufacturer Samsung BioLogics said Thursday that it has obtained its first-ever manufacturing approval from Canada’s drug regulators for a biologic product produced at its first plant in Songdo, Incheon.With the addition, the company has now earned 14 manufacturing approvals from the world’s top drug regulators -- the US Food and Drug Administration, the European Medicines Agency, Japan’s Pharmaceuticals and Medical Devices Agency and now Health Canada.Eleven of the a
June 21, 2018
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Asiana Airlines runs outreach program targeting women in Vietnam
Asiana Airlines said Tuesday it has opened a fourth employment training course targeting women in Vietnam, which will take place over the next six months. Asiana Airlines Managing Director Cho Young-suk (sixth from left) and the Embassy of Korea in Vietnam’s Consul General Lee Mi-yeon (seventh from left) pose for a photo in Hanoi, Vietnam, Wednesday. Asiana AirlinesSince 2015, the South Korean airline has been providing job training sessions for Vietnamese women in the low-income bracket. The p
June 20, 2018
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P&G Korea inks MOU to improve medical environment for young patients
Proctor and Gamble Korea said Wednesday that it has signed a memorandum of understanding with Seoul Child Hospital and Kids & Future Foundation to improve Korea’s medical services for children. P&G Korea’s public affairs leader Park Lincoln (left), Seoul Child Hospital Director Kim Jae-bok (center) and Kids & Future Foundation Director Park Doo-joon pose for a photo after signing a memorandum Wednesday. P&G Korea“Through the memorandum, P&G will continue to put in effort to improve treatment an
June 20, 2018
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Govt., carmakers to jointly respond to US auto tariff probe
South Korea's trade ministry said Wednesday it will work with local carmakers to respond to potential import restrictions by the United States, which has launched a probe into auto imports.Last month, the US Department of Commerce launched an investigation into possible tariffs on imported vehicles and auto parts, on national security grounds, under Section 232 of its trade law.The Ministry of Trade, Industry and Energy held a meeting with major automakers, including Hyundai Motor Co. and Kia Mo
June 20, 2018
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Samsung SDS investors blame FTC head for shares plunge
Samsung SDS’ small shareholders have voiced their anger at the nation’s antitrust watchdog head, claiming his remarks Thursday drove the firm’s shares to plunge. On Thursday, the Fair Trade Commission Chairman Kim Sang-jo had urged the owner families of conglomerates to sell off stocks of non-key affiliates, referring to the businesses of system integration, real estate, logistics and advertising. “Following Kim’s remark, shares of Samsung SDS -- whose main business is system integration -- plun
June 19, 2018
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Hyundai Rotem develops new train system
Hyundai Rotem, the train-making affiliate of Hyundai Motor Group, has developed the world’s first train system that can pass through sharp curves with a radius of 15 meters, the company said Tuesday.Capable of making turns in round areas with a 15-meter radius, compared to the previous 25-meter radius, the latest system is expected to enable train tracks to be built in populous regions and curvy locales. It was developed as part of a government-led project to develop trains that can run 5-7 seve
June 19, 2018
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Sales of Orion’s corn chips record W50b in 15 months
South Korean confectionery company Orion said Tuesday that accumulated sales of Kkobuk Chip had surpassed 50 billion won ($45 million) since its launch in March last year. Orion’s Kkobuk Chip (Orion)Approximately 46 million packs of the corn chips had been sold as of this month, according to the company. This translates to some 100 million won worth of chips sold daily. Driven by the popularity of the corn soup-flavored snack, Orion began producing Kkobuk Chip in Shanghai, China, last month unde
June 19, 2018
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Retailers add evening classes at culture centers to match shorter working hours
Retailers are adding evening programs at their culture centers to accommodate office workers who will have extra time due to shortened legal working hours starting next month, industry officials said Tuesday.More customers are registering in evening classes at some retailers, including Hyundai Department Store, which increased after-work programs by 10 to 20 percent for this year's June-August period at its chain. Registrants in the 20s-30s age group accounted for 25.7 percent of the total, near
June 19, 2018
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Prosecutors seek warrant to arrest wife of Korean Air chief over allegations of illegal hiring
Prosecutors on Monday sought an arrest warrant against Lee Myung-hee, wife of Korean Air Lines Co.'s chief, over allegations that she hired housekeepers from the Philippines without due visas.The move came two weeks after a Seoul court denied the prosecution's request for a warrant to arrest Lee over multiple assault charges.In addition to the assault charges, the 69-year-old Lee is accused of hiring some two dozen maids from the Southeast Asian country for at least the past decade by sponsoring
June 18, 2018
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Philip Morris claims IQOS could reduce health risk
Tobacco maker Philip Morris International said Monday that its clinical study proved that switching to its heat-not-burn cigarette device could reduce health risks compared to conventional cigarettes, reigniting controversy over the harmfulness of HNB products. Manuel Peitsch, chief scientific officer at Philip Morris International, speaks during a press conference Monday in Seoul. PMIPMI’s study result comes two weeks after South Korean health authorities released a safety result that found HN
June 18, 2018
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KT again embroiled in ‘CEO risk’
South Korea’s leading telecom operator KT once again faces an escalating “CEO risk” as police sought an arrest warrant on Monday for its CEO Hwang Chang-gyu for alleged involvement in the firm’s illegal donations to lawmakers. Hwang was suspected of creating 1.1 billion won ($1 million) in slush funds from May 2014 to October 2017 and of spending 442 million won of the money for illegal donations to 99 lawmakers. Hwang Chang-gyu arrives for questioning at a police station in Seoul on April 17. (
June 18, 2018
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LS Cable & System advances into Indonesia with AG Group
LS Cable & System is slated to advance into the Indonesian cable market by setting up a joint corporation with local company Artha Graha Network. AG Group, one of Indonesia’s top 10 companies, runs businesses in the areas of banks, hotels, construction and resorts. LS Cable & System CEO Myung Roh-hyun (third from right) poses for a photo with AG Group Chairman Panji Winata (fourth from right) after signing an agreement in Seoul on Monday. (LS Cable & System)LS signed an agreement with AG Group i
June 18, 2018