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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Asiana plane has collision in Istanbul Airport
Asiana Airlines’ OZ552 departing from Istanbul, Turkey crashed into the tail of Turkish Airlines’ A321 plane Sunday, breaking its wing as well as the other plane’s tail and causing a fire.According to Asiana, the plane was moving on the taxi way at Istanbul’s Ataturk Airport at around 5:30 p.m. local time. Its wing accidentally hit the tail of Turkish plane which was parked.The air carrier said none of the people on board were hurt, and the crash was not severe. The fire that broke out on the Tu
May 14, 2018
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[Herald Interview] Kyobo chief advocates ‘human-centered management’ to world SMEs
Kyobo Life Insurance CEO Shin Chang-jae shared his ideas on human-centered management with small-sized business owners, government officials and scholars from around the world, officials said Sunday.“Profit is like fuel. A company cannot live without it but should not live for it, either,” said Shin in his keynote speech at a forum held Friday in New York, local time.Shin Chang-jae, CEO of Kyobo Life Insurance. (Kyobo Life Insurance)The event, titled “Sustainable Stakeholder Relationship Managem
May 13, 2018
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[IP in Korea] How apart are two Koreas in their copyright systems?
The Korea Herald is publishing a series of interviews on experts in the intellectual property sector. This is the 14th installment. -- Ed.At the heart of a recent thaw in relations on the Korean Peninsula were two symbolic cultural events: the joint performances of South Korean and North Korean art troupes. The first one took place in February on the sidelines of the 2018 PyeongChang Winter Olympic Games and the second one in Pyongyang ahead of the inter-Korean summit in April. While this may be
May 13, 2018
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[Newsmaker] How will review of Samsung BioLogics’ alleged accounting fraud go?
South Korea’s top financial regulator will embark on initial steps to review accounting fraud allegations involving contract drug manufacturer Samsung BioLogics this week, the outcome of which will largely sway the company’s future prospects and legal standing.The Financial Services Commission is set to review the closely-watched case on Thursday via an in-house accounting oversight panel, marking the first formal meeting on the issue. It will then refer the case to the Securities and Futures Co
May 13, 2018
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Debunking myths on red ginseng, Cheong Kwan Jang reaches out to health-conscious ASEAN markets
SINGAPORE -- Many people may not know that South Korea’s red ginseng entered the Southeast Asian market in the 1930s.Now amid growing awareness of healthful products and a rise in modern illnesses, Cheong Kwan Jang, the top-selling red ginseng brand by Korea Ginseng Corp., has been quietly making waves in other Asian markets. Its expanding presence, however, comes after years of efforts, according to the company, as it faced long-standing cultural perception surrounding red ginseng.“Definitely w
May 13, 2018
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[Hyundai Reform] Elliott preys on chaebol’s Achilles’ heel for short-term gains
Among many factors concerning South Korea’s corporate world, there’s one particular case that businesses feel commonly sensitive about: activist hedge funds. Hedge funds use unconventional strategies of not only intervening in the company’s board and management, but also waging proxy battles and liquidating assets. They operate around the world, pushing companies with aggressive strategies in pursuit of greater returns.And South Korea appears to be the latest target for the “corporate hunters.”A
May 13, 2018
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2 in 3 chaebol family members hold shares in unlisted affiliates
Two out of 3 family members belonging to conglomerates own more than a 20 percent stake in one of its unlisted affiliates, data showed Sunday, a sign of potential unfair trading within businesses.According to the data by the Fair Trade Commission, the nation's antitrust watchdog, 38 out of the country's 57 major family-controlled conglomerates, or chaebol, with assets of 5 trillion won ($4.7 billion) or more were found to have people with "special ties" to the top manager and owned stakes in aff
May 13, 2018
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Manufacturing sector's full-time jobs shrink for 3 straight quarters: data
The number of full-time jobs in South Korea's manufacturing businesses decreased for the third straight quarter in the first three months of 2018 amid overall challenges facing the sector, official data showed Sunday.According to Statistics Korea that conducted a review of workers in the country's manufacturing field, 2,384 positions were lost in the January-March period compared with the year before.The contractions follow a drop of 2,394 and 9,257 posts in the third and fourth quarters of last
May 13, 2018
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Manufacturing facing similar challenges to those during global financial crisis: data
South Korea's manufacturing industry is struggling with the same kind of output drop it faced when the world economy was rocked by the 2008 financial crisis, official data showed Sunday.Findings by Statistics Korea showed auto, shipbuilding and steelmaking taking the brunt of the downturn, which could lead to problems for the country's manufacturing sector as a whole and the job market that is critical for sustainable growth.Key sectors like autos and steel have been the mainstay of South Korea'
May 13, 2018
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10 Chinese firms to be delisted in S. Korea
Wanli International Holdings Ltd., a Chinese tile manufacturer, is poised to be delisted from South Korea's secondary stock market, the local bourse operator said Sunday, adding to lackluster investor sentiment toward Korea-listed Chinese firms.Trading of Wanli International Holdings will be terminated on May 23 from the tech-savvy KOSDAQ market, the Korea Exchange said.Wanli will become the 10th Chinese firm to be booted out from the local bourse.Wanli International Holdings, one of the top wal
May 13, 2018
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Firms making inquiries about opening operations at Kaesong complex
A number of firms are making inquiries about the now-shuttered joint industrial complex in North Korea's border city of Kaesong, industry sources said Sunday, as the two Koreas move to implement a set of agreements signed during their leaders' historic summit last month.According to the insiders from a private task force representing South Korean firms that had operated factories in the Kaesong Industrial Complex, the inquiries have recently been made by both South Korean and foreign companies a
May 13, 2018
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SMEs pledge to do their part to stimulate inter-Korean cooperation
South Korea's small and medium-sized enterprises will do their part to stimulate cross-border economic cooperation once Seoul and Pyongyang normalize relations, a local business lobby group said Sunday.Korea Federation of Small and Medium Business Chairman Park Sung-taek said in a gathering of entrepreneurs late last week in Seoul that the historic summit on April 27 between the leaders of the two Koreas and the possibility of good relations with North Korea is ushering in a new era of peace.Sou
May 13, 2018
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Local beer losing out to foreign rivals, jeopardizing production base
Local beer is steadily being sidelined by imports as distributors are focusing on importing foreign brands that can potentially threaten South Korea's production base, industry observers here said Sunday.Market insiders said that South Korean distributors are currently competing with each other to secure rights to import foreign beer that have become popular with consumers in recent years and offer better profits for companies that can handle them.Reflecting this trend, companies like Lotte Liqu
May 13, 2018
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Immigration officials raid Korean Air in connection with alleged illegal employment
South Korean immigration officials raided the main office of Korean Air Lines Co. on Friday in connection with an investigation into alleged illegal employment of foreign housekeepers, sources said.The Seoul Central District Prosecutors' Office sent its investigators handling immigration affairs to the headquarters of the country's flagship carrier in western Seoul, according to the sources. It was later confirmed that the residence of Korean Air Chairman Cho Yang-ho was not included in the raid
May 11, 2018
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[News Focus] Samsung BioLogics’ alleged accounting fraud brings 2015 merger back under scrutiny
Growing allegations that biopharma firm Samsung BioLogics fabricated financial statements, coupled with checks by authorities and activist shareholders, are bringing questions on a controversial deal between two Samsung affiliates back to the fore, according to market experts Friday.The Financial Services Commission plans to review the case of Samsung BioLogics next week via an oversight panel. The financial regulator is reportedly seeking clues on whether the change in accounting method was ass
May 11, 2018
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[Weekender] Diet foods suppress carbs, not appetite
A 28-year-old Oh Hye-jin’s day begins with drinking a 125 milliliter pack of non-sweet soy bean milk, mixed with powdered oats. On a strict diet, she prepares her breakfast after a morning exercise. Her option is normally pancakes made of whole grain, drizzled with date palm syrup. Oh has been cutting back on refined carbohydrates for the past three months. She says white flour is the main culprit behind her love handles.If she has time, she cooks and packs her lunch, but she recently began buyi
May 11, 2018
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[Weekender] Reducing carb intake may pose health risk
Kwon Min-jeong, 36, a freelance translator, recently stopped eating carbohydrates believing it‘s the best way to lose weight.“Although I feel dizzy sometimes due to hypoglycemia, I don’t think I will change my diet because I want to stay slim.” Kwon is one of many who don’t eat carbs in Korea, where the nutrient is increasingly being singled-out as a culprit leading to obesity. Books, commercials and news articles are churning out stories claiming carb intake needs to be reduced to stay healthy,
May 11, 2018
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Korea sets task force to handle Elliott-Samsung case
The South Korean government has set a task force to handle the unfolding legal dispute with US private equity fund Elliott as the US firm is demanding a huge financial compensation from the government, according to related ministries on Friday. The task force of government officials from the Ministry of Strategy and Finance, the Ministry of Foreign Affairs and the Ministry of Trade, Industry and Energy and so forth is holding working-level meetings before the government starts negotiating with t
May 11, 2018
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Korean Air chief quits top post at Jin Air
Korean Air Chairman Cho Yang-ho on Thursday quit the top post in Jin Air Co. amid ongoing investigations into his family over a series of allegations of physical and verbal violence as well as tax evasion and smuggling.Jin Air made the announcement in a regulatory filing with the Financial Supervisory Service. The low-cost carrier said Cho’s resignation from its CEO post is intended to strengthen a responsible management system by a professional manager. Cho Yang-ho (Yonhap)Jin Air is the budget
May 10, 2018
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Korea’s ginseng eyes Asia-Pacific expansion
SINGAPORE -- While ginseng products have long been consumed by all age groups in South Korea, the spreading of information on their convenience and benefits has relied mostly on word of mouth.With a gradual rise in the popularity of ginseng products overseas, Korea’s largest ginseng manufacturer has set out to market its products full-fledged, most recently by attending the region’s biggest duty-free and travel retail show.Korea Ginseng Corp. showcased its red ginseng-based products at the 2018
May 10, 2018