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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[Newsmaker] Tobacco firms rebut ministry’s claim that HNB cigarettes produce more tar
Heated debate ensued after the announcement by the Ministry of Food and Drug Safety of its safety results on recently popular heat-not-burn e-cigarettes on Thursday, which found the products to be equally, if not more, harmful compared to traditional cigarettes. “I have always thought a HNB cigarette is a better option for chain smokers like me. I have invested some 100,000 won ($93) for getting the device in the beginning, and now I’m thinking about reselling the device,” said 37-year-old Kim D
June 7, 2018
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Financial industry getting ready to embrace North Korea
South Korean financial institutions are getting ready to embrace the future economic ties with North Korea amid cooperative atmosphere following the inter-Korean summit in April and a week ahead of the US-North Korea summit. Samsung Securities said Thursday it set up a research team on investment in North Korea for the first time among the nation’s financial companies. The firm said the team was set up to “provide systematic analysis on North Korea from a long-term perspective as the nation’s ge
June 7, 2018
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GM Korea unveils 2 SUV models to boost sales
GM Korea Co., the South Korean unit of General Motors Co., on Wednesday unveiled two sport utility vehicles to be launched in the domestic market to boost its sluggish sales. YonhapThe two models are the midsize Equinox SUV and the large-size Traverse SUV. They will be produced in the United States and shipped to the Korean market, a GM Korea spokesman said. The Equniox is scheduled to be launched this year, but the launch timetable for the Traverse has yet to be released. On top of th
June 6, 2018
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[Eyes On] How bad will it get for Korean Air?
Following a string of incidents involving the misconduct of members of Korean Air’s owner family, employees from the country’s largest air carrier are unable to mask their cynicism.“This too shall pass -- somehow -- is what we all think,” a Korean Air flight attendant told The Korea Herald, referring to the latest allegations surrounding Lee Myung-hee, wife of Hanjin Group Chairman Cho Yang-ho, and their two daughters Cho Hyun-ah and Cho Hyun-min. Hanjin is the holding company of Korean Air and
June 6, 2018
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Novartis Korea recruits participants for ‘I-Eum’ program
Novartis Korea, the local branch of the Swiss pharmaceutical giant, said Wednesday it will recruit participants for a project to support patients who wish to return to work after having left due to illness.In partnership with the Work Together Foundation, a public welfare foundation that helps youths, women and middle-aged people find jobs, the company said that the “I-Eum” program would “reconnect patients with hope, work and the world.” Novartis Korea said the program aims to provide psychothe
June 6, 2018
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[From the Scene] With new Ireland plant, SK biotek eyes pharma industry lead in Europe
SWORDS, Ireland — With a complex system of metal pipes filling up the space, trucks carrying large tanks of marked substances and chimneys belching out puffs of white, the facility seems like a typical fine chemicals plant from the outside.However, it is not brewing chemicals for heavy industry, but the baseline ingredients for life-saving medications developed by some of the world’s leading pharmaceutical companies including Bristol-Myers Squibb, AstraZeneca and Pfizer.Meet SK biotek Ireland, a
June 6, 2018
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Philippine President Rodrigo Duterte visits E-Mart
SEOUL -- Philippine President Rodrigo Duterte on Tuesday visited the headquarters of E-Mart Inc., South Korea's largest discount hypermarket chain, the retailer said.The chief executive attended a Philippine food festival and looked around Philippine fruits and other products at the E-Mart store in Seoul, an E-Mart official said. Philippine President Rodrigo Duterte walks into the headquarters of E-Mart Inc., South Korea`s largest discount store chain by sales, on June 5, 2018. (Yonhap)Earlier
June 5, 2018
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Chuncheon, Korail to launch one-stop reservation platform for tourists
Future visitors to the Chuncheon, Gangwon Province area will be able to enjoy an integrated tourism platform, jointly provided by the Chuncheon city government and Korail, starting next month. The comprehensive package will allow tourists to make reservations of both Gyeongchun line ITX passes, choose from various tourist attractions and pay all at once. In a response to the growing number of Koreans preferring self-planned trips, Chuncheon and Korail voiced hopes to lure more tourists to the ar
June 5, 2018
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Korea attracts $500m from Chinese investors in chips, bio, cars
Korea has attracted around $500 million of investment from Chinese investors in the areas of next-generation technologies, including chips, bio, automobiles and robots, through a ministerial roundtable, according to the Ministry of Trade, Industry and Energy on Tuesday. The ministerial roundtable was held in Beijing on Tuesday, inviting 12 Chinese investors, including chip firm JCET, bio companies Evercare and Fujian Ruico, automakers BAIC and Siasun Robot and content providers Spearhead and IIE
June 5, 2018
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Yanolja is most popular hotel booking app among Koreans
Yanolja is the most popular mobile application for domestic hotel reservations among Koreans, according to Wiseapp, which analyzes the use of mobile applications. Among apps that provide services for domestic accommodation and flight reservations, the hotel booking app Yanolja ranked first, followed by the Yeogi-eottae and Hana Tour apps.Yanolja’s user base was estimated to be 1.02 million in April, a twofold increase from the previous year’s 570,000. Yanolja offers discounts for hotels and othe
June 5, 2018
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Korea becomes fifth-biggest cosmetics exporter to Europe
South Korea became the fifth-biggest exporter of cosmetics to Europe last year, supported by natural ingredients and cost effectiveness, a trade organization said Tuesday.According to the Brussels office of the Korea International Trade Association, South Korea ousted Japan for the No. 5 spot by exporting 135.79 million euros ($159.15 million) worth of cosmetics last year. The total marks a twelvefold leap from 11.33 million euros in 2010 and a 46.8 percent increase from 2016.The United States w
June 5, 2018
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Korean steel slammed by import restrictions abroad
South Korea's steel exports are the subject of 95 cases of import restrictions by foreign countries, data showed Tuesday, making the industry the hardest hit by protectionist trade. Data compiled by the local steel industry and the Korea International Trade Association indicated that South Korean steel products were penalized with anti-dumping and countervailing duties, as well as import safeguards. The 95 cases account for nearly half of the 202 import restrictions for all South Korean exports.
June 5, 2018
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AmCham chief appointed as director of Chinese tech firm
James Kim, chairman of the American Chamber of Commerce in Korea, was appointed as an independent director of iClick Interactive, an online marketing technology firm in China, according to the company on Monday.James Kim, chairman of the American Chamber of Commerce in Korea“We are excited and honored to welcome Kim to our board,” said Sammy Hsieh, CEO of iClick, “Mr. Kim brings 30 years of world-class operating experience in both Fortune 500 and entrepreneurial companies in various industries t
June 4, 2018
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Korea’s cross-border tech M&A weaker than rivals
While the global cross-border mergers and acquisitions market is heating up, Korean companies are still behind in buying and selling promising tech startups on the global stage and are focused on local deals, according to a nonprofit trade organization on Monday. According to a report released by the Korea International Trade Association, the nation’s total number of cross-border M&As stood at 31 during the period between 2013 and 2017. It accounts for 15 percent of the total 197 deals. The numb
June 4, 2018
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[Eyes On] Chaebol speeds up reform under anti-sentiment, state drive
Surrounded by growing public antagonism and state pressure, Korean Inc. have been speeding up efforts to improve transparency in their corporate governance, long blamed for allowing the owner families to stay in power despite their small shares in companies.Not only Hyundai Motor, top conglomerates like Hanhwa and Hyosung came up with grand plans last week that they believe would improve shareholders’ rights. And believe it or not, they want to complete such complicated and costly restructuring
June 4, 2018
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Starbucks Korea launches new in-car pickup service
Coffeehouse chain Starbucks Korea said Monday that it will provide a new in-car pickup service for its drive thru users from Tuesday, which helps drivers to skip the process of making a payment in the lane. (Starbucks Korea)Called “My DT Pass,” the new service will enable drivers whose plate numbers are registered on the Starbucks app or the official website to order and will be automatically charged through a prepaid card or a credit card registered on the Starbucks app. Drivers won’t have to
June 4, 2018
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SKT provides energy-efficient cookstoves for Myanmar
South Korea’s leading mobile operator SK Telecom said Monday it would start providing cookstoves for Myanmar’s citizens to help improve environmental conditions under a partnership with the country’s government. This year, the company will supply a total of 54,000 energy-efficient cookstoves for households who live in dry areas of the country, helping to decrease the use of firewood and reducing about 106,000 tons of carbon emissions from cooking. The cookstoves will also improve the quality of
June 4, 2018
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Korean cosmetics firm Nature Republic moves into Saudi Arabia
Nature Republic Co., a South Korean cosmetics firm, said Monday it has opened its first outlet in Saudi Arabia as it moves to its expand presence in overseas markets.Nature Republic said it has signed an agreement with local retailer Fawaz Alhokair to open up to five outlets in the Middle Eastern country within this year, starting with the new store in the capital city of Riyadh.The Middle East's cosmetics market is expected to grow by as much as $36 billion by 2020, the company said, adding tha
June 4, 2018
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[Kosdaq Star] Buoyed by bio, genome sequencing pioneer Macrogen seeks stable future
This is the 56th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- Ed. Only two decades ago, today’s genome sequencing technology sounded like magic. Driven by growing interest in the mysteries of the human body and passion for finding a cure, the market for genome sequencing service market has doubled in eight years. The price of the service also plummeted significantly in the 15 years leading to 2016, giving researchers easier access cost-wise to geno
June 3, 2018
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[Management in Korea] It’s lonely at the top: Personal journey of CEO
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.Being named CEO is a goal sought by many but obtained by few. Both in the public eye and within the executive suite, it is thought of as the end of a long career path. But the fact is that it is only the beginning of a new and more challenging stage. Even for executives who have been carefully groomed for
June 3, 2018