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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Not just Hyundai, others eye NK opportunity
The possibility of North Korea opening up is something not just Hyundai Group is preparing for, with other South Korean conglomerates like Lotte, Hyosung and Posco also anchoring hopes on making inroads into the uncharted market in advance.Retail giant Lotte has been aggressive in forming a task force to study the North Korean market and neighboring countries Russia and China. Communication head Oh Seong-yeop is leading the team to conduct feasibility studies on promoting the tourism industry in
June 13, 2018
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Voting day a boon for retail industry
The South Korean retail industry has bet on increased sales on Election Day, by rolling out vote-empowering marketing as well as promotional events.Department stores, one of the crowded places on the red-day Election Day, presented various benefits to lure shoppers to come after casting their ballots.Galleria Department store gave out gift certificates, free ice cream and 10 percent-off coupons for those who voted, as part of the vote day promotion event. Galleria delayed the store opening on We
June 13, 2018
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[US-NK Summit] S. Korea's biz community hails Trump-Kim summit
The South Korean business community on Tuesday hailed the historic summit between the leaders of North Korea and the United States as it could offer new business opportunities for Asia's fourth-largest economy.North Korean leader Kim Jong-un committed to the complete denuclearization of the Korean Peninsula at the summit with US President Donald Trump in Singapore.The two men also committed to establishing "new" bilateral relations and making joint efforts to build a "lasting and stable" peace r
June 13, 2018
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[US-NK Summit] Unlike Singapore, Korean F&B firms careful about Trump-Kim marketing
While Singaporean food and beverage businesses cashed in on the historical US-NK summit by releasing products from the Trump-Kim burger to “Rocket Man” taco, South Korean F&B companies were more cautious about joining the celebratory mood.“It is surely a historical moment that we all wanted to see, but I think it is still early to launch related products celebrating the historical moment of the two leaders,” an industry insider told The Korea Herald. Trump-Kim burger (Royal Plaza on Scott Face
June 12, 2018
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[US-NK Summit] Hyundai Group in the spotlight amid thaw on Korean Peninsula
It all started from one business magnate who crossed the heavily fortified border in Panmunjeom with a herd of 500 cattle two decades ago, spreading the message of peace to people in the North. Hyundai Group, once the largest conglomerate here long before Samsung’s dominance, became the first South Korean business entity to start business operations under Pyongyang’s rare accreditation. Largely hurt by the 1997-98 Asian Financial Crisis and an ugly family feud, however, Hyundai Group lost most o
June 12, 2018
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MAN Truck & Bus Joins German vocational training program in Korea
The Korean arm of German automaker MAN Truck & Bus agreed to participate in the German vocational training program Ausbildung in Korea, according to the Korean-German Chamber of Commerce and Industry on Monday. Ausbildung is a German dual vocational training program that consists of practical training at company sites and academic education at colleges which are acting as vocational schools. The program has the intention of giving young Koreans the possibility to start a sustainable career with
June 11, 2018
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Alibaba vows to support Korean companies’ Chinese market foray
Chinese e-commerce giant Alibaba Group has vowed to support Korean companies in making successful forays into China’s expanding online market.It will empower Korean merchants with its new retail initiatives and allow them to leverage on Alibaba’s third-party mobile and online payment platform Alipay, the group said.Angel Zhao, president of Alibaba Global Business Group and vice president of Alibaba Group, speaks during a conference in Seoul on Monday.(Alibaba)During Alibaba’s conference on Monda
June 11, 2018
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[Trending in Pairs] Food companies enjoy fashion moment
As they wage a marketing war for consumers’ attention and appetites, food companies are increasingly teaming up with fashion brands, leading to a boom in “food merchandise.”Brands see the collaborations as an entertaining experience for customers that increases opportunities to create a synergistic marketing effects to increase sales.Quirky, humorous and sometimes odd marketing has often been a successful public relations strategy for food companies. The fashion foray is the latest such tactic,
June 10, 2018
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[IP in Korea] ‘Era of digital revolution sheds new light on publishing copyright’
The Korea Herald is publishing a series of interviews with experts in the intellectual property sector. This is the 16th installment. -- Ed.Responding to the fast-paced advancement of digital culture and replication technology, publishing copyright laws around the world have evolved in a way to expand creators’ range of rights over their work of originality and to toughen penalties upon infringements.This black-and-white logic of “creator versus infringer,” however, may no longer be valid in an
June 10, 2018
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4 farm good wholesalers fined over collusion
South Korea's corporate watchdog said Sunday that it levied a combined 11.6 billion won ($11 million) in fines on four major farm good wholesalers for colluding on their commissions.According to the Fair Trade Commission, Hankook Fruits and Vegetables Co. and three other wholesalers that serve as auctioneers or wholesalers at Garak Agricultural Market in southern Seoul, the largest agro-farm good marketplace in the country, worked together to levy unloading charges for fruits and vegetables of s
June 10, 2018
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S. Korean cosmetics firm Innisfree taps Australia
Innisfree Corp., a subsidiary of South Korean cosmetics giant AmorePacific Group, said Saturday it has opened its first outlet in Australia as local cosmetics firms move to diversify their sources of income after being hit hard by China over a missile defense system row last year.The launch of the new store, which opened at a shopping complex in Melbourne on Friday, raises the number of overseas countries with Innisfree outlets to 12, including China, Thailand and the United States, it said.Lane
June 9, 2018
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Retail fuel prices in S. Korea up for 7th straight week
Retail fuel prices in South Korea rose for the seventh consecutive week despite a fall in global crude oil prices, data showed Saturday.The average gasoline price was 1,609.7 won (US$1.49) per liter nationwide in the first week of this month, edging up 4.7 won from a week earlier, according to the data compiled by the state-run Korea National Oil Corp. (KNOC).The figure is the highest price tallied since 1,620.0 won per liter recorded in December 2014, it said.The average diesel price also climb
June 9, 2018
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[Weekender] Corporate action key to fighting plastic binge
South Korea is facing increasing pressure to reduce or recycle its own plastic waste, particularly since China’s plastic import ban that took effect in January this year.While some countries like the United Kingdom have embarked on state-led measures in a joint effort with local business sectors to ditch plastic, similar measures in Korea face criticism for their lack of binding force and sustainability.In a speech to mark Environment Day on June 5, Prime Minister Lee Nak-yon echoed a need to in
June 8, 2018
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[Weekender] A day without plastic -- No one cares
I remember how much my mother cherished the Tupperware plastic containers she bought from Namdaemun market in late 1980s. Plastic bowls made in US was a revolutionary item for many South Korean housewives and a symbol of modern life. Probably brought by US army personnel and then sold to merchants in markets in Seoul, the Tupperware series always made my mother proud, as they kept food freshly sealed and were safe even if her playful kids threw them around. But not many could afford the American
June 8, 2018
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[Weekender] Plastics may be on your plate
A war has begun worldwide on plastics.For decades, polymers have been used to make human lives easy and more hygienic, but with single-use plastic items being blamed for killing species on the ocean and threatening ecosystems, global initiatives have been launched since last year by the United Nations to curb their use. But South Korea, one of the biggest producers and consumers of plastics in the world, has taken a little interest in curbing plastic pollution. Leaders have been pointing out a l
June 8, 2018
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[Herald Interview] Bridging Seoul and London, with a British touch
It all started from a mere curiosity of Korea and its complex but unfortunate history. In the eyes of Sean Blakeley, CEO of the British Chamber of Commerce in Korea, the nation’s dynamic transition from a war-torn country to information technology powerhouse has always been a fascinating subject. The personal interest pushed him to learn more about diverse aspects of the country. But he couldn’t know that he would become a man bridging the two countries in terms of business and trade.“I found Ko
June 8, 2018
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Korean chipmakers urged to secure competitiveness in non-memory chips
The South Korean minister of industry and commerce urged Korean chipmakers Friday to secure global competitiveness in non-memory chip to widen technology gap from Chinese competitors.Paik Un-gyu, the Korean Minister of Trade, Industry and Energy“It is very important for Korean companies to secure global competitiveness in non-memory chips,” said Paik Un-gyu, the Korean Minister of Trade, Industry and Energy, adding that non-memory chips are the basis of advanced technologies powered by artificia
June 8, 2018
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S. Korean nuclear operator turns outward to foreign markets
South Korea‘s state-run nuclear operator will shift its focus to new markets abroad by providing comprehensive energy solutions to create a new business model amid a nuclear phase-out plan at home, it chief has said.Chung Jae-hoon, the CEO of the Korea Hydro & Nuclear Power Co., said every effort is being made to search for opportunities in “strategic markets,” including Czech Republic, Slovakia, Poland and the Philippines.“We will knock on any door, seeking whatever benefits we can get,” Chung
June 8, 2018
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Seoul seeks drastic deregulation for innovative growth
South Korea will seek drastic deregulation and provide support to foster innovative growth, the country‘s finance ministry said Friday.Under a set of support measures unveiled earlier, the government will provide funding and other incentives to eight key sectors such as smart farms, smart cities, financial technology, drones and electric vehicles and artificial intelligence.“The government will accelerate its move toward easing regulations for innovative growth ... and will fully support innovat
June 8, 2018
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Foreign entry on list of Posco CEO candidates
Amid concerns over the political neutrality of the nation’s largest steelmaker, Posco held a council meeting earlier this week to pick a new CEO, officials said Thursday.The council has identified eight candidates from recommendations of around 30 institutional investors with ownership of more than 0.5 percent of shares and seven recruitment agencies. The list includes one non-Korean candidate. The eight candidates will be screened along with 10 candidates who currently work at Posco. The counci
June 7, 2018