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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Market uncertain on Korea's October rate cut despite slowed inflation
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Samsung unveils 'personalized AI' for all devices
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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[Robert Fouser] Why the US election looks so close
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Special counsel bill to probe first lady scrapped
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Paris Baguette continues to drive global expansion
Food group SPC’s bakery chain Paris Baguette has been expanding quickly outside of Korea, running over 330 stores abroad since its first overseas store in Shanghai, China, opened in September 2004. Paris Baguette store in Manhattan, New York (SPC)In the US, SPC set up a local corporation of Paris Baguette in 2002, and opened the first Paris Baguette in Los Angeles in 2005. There are 60 Paris Baguette stores in major cities in the US including California and New York. The company aims to operate
May 30, 2018
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Food groups pin hopes on improvement in inter-Korean ties
With inter-Korean ties appearing to move forward, South Korean food and beverage companies are cautiously pinning hopes on expanding their businesses to the other side of the peninsula, eyeing the some 25 million potential consumers in the North. Retail giant Lotte Corp. said Tuesday that it has formed a task force to work on the group’s business expansion to North Korea. Its food and beverage affiliates Lotte Food, Lotte Chilsung and Lotte Confectionery will lead the business under a CEO-level
May 30, 2018
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[Advertorial] Samsung supports tuition for middle schoolers
In Korea, English and mathematics are deemed crucial subjects for admission into renowned universities, and the three years in middle school are considered the most critical time for studying. Understanding such educational zeal, Samsung Electronics has been running the Dream Class program for middle schoolers from low-income families to provide them with English and math tutoring by university students since 2012. The program has so far taught around 65,000 middle school students, and 18,000 un
May 30, 2018
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Celltrion resubmits Rituxan biosimilar to US FDA
South Korean biopharma company Celltrion said Wednesday that it has resubmitted its Rituxan-referencing biosimilar Truxima to the US Food and Drug Administration for a second review, resuming approval procedures that were recently halted due to manufacturing issues observed by the FDA. Celltrion also plans to resubmit Herzuma -- its biosimilar referencing Herceptin -- to the US FDA in June. As the US regulator’s approval procedures are completed within six month from the date of resubmission, Ce
May 30, 2018
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Posco volunteers for local communities in 53 nations
A total of 62,000 employees and executives of South Korean steelmaker Posco working in 53 nations participated in an annual weeklong volunteer event for each of their working communities, the firm said Wednesday.The volunteer work included a project for coral reef rehabilitation in Pattaya, a resort city on the east coast of the Gulf of Thailand, where some 100 employees at Posco-SouthAsia and Posco-Thainox took part in placing some 300 young coral reefs to restore the coast’s ecosystem, accordi
May 30, 2018
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Visitors from Mideast spend most among foreign tourists: poll
Middle Eastern tourists were the biggest spenders among foreigners who visited South Korea last year, with their average per capita spending reaching $2,231.70, a local poll showed Wednesday.According to the 2017 International Visitor Survey conducted by the Ministry of Culture, Sports and Tourism, the figure is down from $2,593.80 tallied in 2016. The poll was conducted on 13,841 respondents from 19 countries at the country's international airports and ports.The overall average travel expenses
May 30, 2018
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Lotte to hold year’s first nondeal roadshows in NY, Boston
South Korean retail giant Lotte said Tuesday that it would hold nondeal roadshows in New York and Boston, US until Wednesday, local time. They will be the conglomerate’s first overseas events since its chairman, Shin Dong-bin, was sentenced to 2 1/2 years in prison for bribery and embezzlement in February. Lotte Shopping CEO Kang Hee-tae. YonhapAn NDR is an investment-focused event where executives hold discussions with current and potential investors. Nothing is offered for sale.Arranged by Cit
May 29, 2018
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Hyundai E&C to begin sales of Hillstate Geumjeong
Hyundai Engineering & Construction, the main construction unit of Hyundai Motor Group, will begin sales of 1,482 units of Hillstate Geumjeong in Gyeonggi Province in June, the company said Tuesday. The planned Hillstate Geumjeong development. Hyundai E&CHillstate Geumjeong consists of four apartment buildings and one studio apartment building, each with up to 49 floors and six basement floors. The size of each apartment ranges from 72 square meters to 84 square meters, mainly small and midsized
May 29, 2018
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Hyundai Steel labor union extends social responsibility
The Pohang chapter of Hyundai Steel’s labor union said Tuesday it had carried out a social responsibility program for 19 children from a local child welfare center. Members of Hyundai Steel labor union’s Pohang chapter and children from a welfare center in a northern part of Pohang pose during a program held in Pohang. (Hyundai Steel)On May 23, the chapter’s 13 union members reached out to a child welfare center in a northern remote part of Pohang, a port city in North Gyeongsang Province. Thro
May 29, 2018
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Posco to build lithium-ion cathode plant in Gwangyang
South Korean steelmaker Posco will build a lithium-ion cathode plant in the nation’s southwestern region to meet the growing market demand on rechargeable battery, the company said Tuesday.Posco has bought a 50,000-square-meter construction site from Gwangyang Bay Free Economic Zone Authority, to build the new plant capable of producing 6,000 metric tons of cathode material.The land transaction contract was signed Tuesday after the board approved to increase the capital of its battery component
May 29, 2018
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Samsung scraps scholarship programs for journalists
A non-profit foundation run by Samsung has decided not to run scholarship programs designed to support academic works of journalists here, officials said Tuesday.The Samsung Press Foundation will discontinue its four major projects including the Samsung Press Award, training courses overseas and publications by journalists, to “re-establish its role in the changing media environment.“The decision came amid the foundation facing rumors of providing special offers to a limited group of journalists
May 29, 2018
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Korea's biopharma firms say R&D-driven nature of business calls for new accounting rules
South Korean biopharmaceutical companies want the government to come up with industry-specific accounting standards that take into consideration the nature of the R&D-driven new drug development process, according to survey results released Tuesday by the Korea Biotechnology Industry Organization. Among 26 biotech companies of different revenue sizes surveyed by KoreaBio, 84 percent said that the government should establish clear accounting standards specific to biotech firms. More specifically,
May 29, 2018
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Air purifier makers penalized for exaggerating efficacy
South Korea’s Fair Trade Commission said Tuesday it has slapped penalties on leading air purifier makers including Samsung Electronics, Coway, Winix, Chungho and Cuckoo for their exaggerated advertisements in light of the popularity of the products amid air pollution in the country.Coway faced the largest penalty of 500 million won ($464,000), followed by Samsung Electronics with 488 million won, Winix with 449 million won and Chungho with 120 million won. LG Electronics received a warning, as i
May 29, 2018
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Korea's int'l air passenger traffic jumps 12.5% last month
South Korea's international air passenger traffic rose 12.5 percent last month from a year earlier on increased travel demand, the transport ministry said Tuesday. The number of passengers to and from South Korea came to 9.77 million in April, up from 8.68 million tallied a year earlier, the Ministry of Land, Infrastructure and Transport said in a statement. As more Koreans traveled abroad and low-cost carriers provided more flights on Asian routes, the overall passenger traffic on international
May 29, 2018
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Construction companies venture into IoT tech territory
With internet of things technologies spreading fast to our everyday lives, a smart home is no longer a new concept.IoT technologies include motion sensors that detect the movement of residents to turn a feature on or off, artificial intelligence speakers that can activate a washing machine, and curtains that can open and close depending on the mode.Since the early 2000s, construction companies have been bringing the technologies to apartments to increase convenience, such as installing high-spee
May 28, 2018
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KFS to turn recreational forests into hubs of sports, outdoor activities
The Korea Forest Service has been working over the past decades to develop recreational forests across South Korea, with aims to transform the country’s natural forests and mountains into public parks for recreational and leisure activities.The state-run forest management body embarked on the recreational forest development project in 1988, and has since come to operate 166 state-run, public and private-run forest recreation parks visited by some 16 million people annually, as of end-2017.And no
May 28, 2018
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Salaries rise sharply at public financial firms in 2017: data
South Korea's state-run financial firms jacked up their annual salaries at twice the pace of other public corporations last year, data showed Monday.The average yearly income of employees at seven state-owned financial companies came to 93.09 million won ($86,749) in 2017, up 2.3 percent from the previous year, according to the data by ALIO, a state website that releases public information.Their annual salary is 38.8 percent larger than that for all 361 state-run public firms in the country, whi
May 28, 2018
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Korean entertainment industry expands into China
Korean TV channels will participate in China's biggest broadcasting content fair for the first time in two years in the latest sign that China is loosening its restriction on Korean cultural products, industry sources said Monday.China banned Korean dramas, films, packaged tours and K-pop starting in 2016 in protest against the deployment of an advanced U.S. missile defense system in South Korea.According to TV industry officials, major Korean TV networks will participate in the Shanghai TV Fest
May 28, 2018
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[IP in Korea] ‘Koreas’ market opening must accompany protection of industrial property rights’
The Korea Herald is publishing a series of interviews on experts in the intellectual property sector. This is the 15th installment. -- Ed.Amid the recent conciliatory mood on the Korean Peninsula, the unthinkable just a couple of months ago -- for instance, forming an integrated market system in the future -- has become a probability as what optimists view as phase zero step for inter-Korean reunification. Seizing upon this opportunity of potential market expansion, South Korea should take pre-e
May 27, 2018
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Incheon Airport seeks to extend operational expertise to Eastern Europe
Incheon International Airport Corp., the operator of South Korea’s Incheon International Airport, is looking to extend its airport operations expertise to emerging markets in Eastern Europe as it has begun efforts to score new deals to develop and operate new airports in Poland and the Czech Republic.The move comes after the Incheon Airport operator won a bid to operate Kuwait’s newly-built Terminal 4 in a deal valued at 140 billion won ($128 million) earlier this month, marking its biggest over
May 27, 2018