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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CJ vice chairwoman selected as one of 16 leader groups
CJ Group Vice Chairwoman Lee Mie-kyung has been selected as one of the 16 leaders of the Women Entrepreneurs Finance Initiative housed at the World Bank, the company said Tuesday.The Women Entrepreneurs Finance Initiative, better known as We-Fi, helps empower female entrepreneurs in developing countries by providing various support programs. CJ Group Vice Chairwoman Lee Mie-kyung (CJ Group)The international fund participated by 14 countries worldwide, including Korea, the US, and China was laun
May 2, 2018
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Financial watchdog finds accounting violation at Samsung BioLogics
South Korea’s financial watchdog said Tuesday that Samsung Group‘s bio unit has violated accounting rules, and corrective measures and punishment may be taken depending on the final outcome. Since March last year, the Financial Supervisory Service (FSS) has been conducting a special audit on Samsung BioLogics Co., a biopharmaceutical unit of Samsung Group, over alleged accounting irregularities. The bio firm’s accounting flaw boils down to whether there were any irregularities over a dramatic b
May 1, 2018
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[Photo News] Package deliveries continue on Labor Day
DELIVERIES ON LABOR DAY -- A deliveryman unloads packages from a truck at an apartment complex in Seoul on Tuesday, Korea’s official Labor Day. Under Korean labor laws, deliverymen are categorized as “special employment workers” and therefore are not legally obligated to refrain from working on Labor Day. (Yonhap)DELIVERIES ON LABOR DAY -- A deliveryman unloads packages from a truck at an apartment complex in Seoul on Tuesday, Korea’s official Labor Day. Under Korean labor laws, deliverymen are
May 1, 2018
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Antitrust watchdog designates Lee Jae-yong as Samsung head
The Korea Fair Trade Commission designated Lee Jae-yong as head of Samsung Group as his father and bedridden Chairman Lee Kun-hee is judged as being incapable of doing business management independently. The designation does not force Samsung to make any formal changes to its management, but means that the FTC will now treat Lee Jae-yong as the head of the group when applying regulations. That means Lee can be held responsible for FTC rule violations Samsung commits in cases where his father prev
May 1, 2018
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Arrest warrants sought for Samsung executives for sabotaging labor union
Prosecutors on Tuesday sought arrest warrants for three officials from Samsung Electronics Co.'s after-services affiliate and its partner companies over its suspected attempts to sabotage labor union activities.The Seoul Central District Prosecutors' Office sought the writs on suspicions that the trio pushed for an organized scheme from 2013 through 2015 aimed at hampering the establishment and operations of labor unions. ReutersOne of them is an executive of Samsung Electronics Service, identif
May 1, 2018
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[Newsmaker] Police grill Korean Air chief's daughter over alleged assault
Police on Tuesday questioned a daughter of Korean Air's Chairman Cho Yang-ho over suspicion that she assaulted an advertisement agency's employee during a business meeting last month.The Seoul Gangseo Police Station brought in Cho Hyun-min, a former Korean Air senior executive, for questioning over the allegations of assault and obstruction of business in a case that has tarnished the image of the country's flag carrier."I am sincerely sorry for having caused concerns," Cho said repeatedly as sh
May 1, 2018
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Korea's April exports post first decline in 18 months
South Korea's exports retreated in April from a year earlier, marking the first dip in 18 months, largely due to a base effect, government data showed Tuesday.Outbound shipments reached $50.06 billion last month, down from $50.84 billion a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy.Imports surged 14.5 percent on-year to $43.45 billion.South Korea's trade surplus came to $6.61 billion, marking 75 straight months in which the country's exports have excee
May 1, 2018
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SK Innovation to buy back shares worth 1 tln won
SK Innovation Co., South Korea's leading refiner, said Monday it will buy back 1 trillion won ($934.5 million) worth of its own shares to enhance shareholder value. The firm's shareholders approved the plan to buy 5.2 million shares, or 5.6 percent of the total, in the main KOSPI market within the next three months. (Yonhap)"The decision is part of SK Innovation's efforts to increase the shareholder value," the company said in a release. Last week, SK Innovation said it will nix the initial publ
April 30, 2018
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Live video of Inter-Korean summit attracts 2.5 million viewers on Twitter
The inter-Korean summit livestreamed Friday on Twitter attracted around 2.5 million viewers, according to the social networking service firm on Monday. Around 1.6 million tweets related to the summit were also posted globally on Friday. The most tweeted moment based on tweets per minute was around 6:30 p.m. when the two sides announced a “common goal of realizing a nuclear-free Korean Peninsula,” generating around 3,100 tweets per minute, Twitter Korea said. The second-most tweeted moment took p
April 30, 2018
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Daewoong, Medytox divided on US court’s partial dismissal of BTX theft case
A US court on Friday has partially accepted and partially denied South Korea’s Daewoong Pharmaceutical’s motion to dismiss the claims brought against them by domestic rival Medytox over the origins of the bacterial strain used to produce botulinum toxin products. The two Korean drugmakers involved in the case responded Monday with contradicting interpretations of the court decision, continuing a long-running dispute over the source of their anti-wrinkle drugs.The Superior Court of California in
April 30, 2018
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Korean Air employees plan candlelight protest for chairman’s resignation
Some employees of South Korean national carrier Korean Air are planning to stage a candlelight protest to call for the resignation of Hanjin Group Chairman Cho Yang-ho, who has come under intense scrutiny after the allegedly unruly behavior of his daughter and wife prompted police questioning and a customs probe. Korean Air employees hold placards during a protest in front of the Korean Air headquarters in Gangseo-gu, Seoul, Friday. (Yonhap)Some 960 Korean Air employees had joined an anonymous c
April 30, 2018
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Samsung Electronics faces stock split this week
Starting Monday, the trading of shares for South Korea’s tech giant Samsung Electronics will be suspended for three business days, in the course of a first-ever stock split action, according to the nation’s bourse Korea Exchange on Sunday.While the 50-for-1 stock split is intended to activate transactions and to boost shareholder value, many observers also suggested that the positive consequences are likely to remain limited. As the local stock market is to be closed on Tuesday in celebration of
April 29, 2018
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[Photo News] Hyundai Oilbank operates 'Dream team'
(Hyundai Oilbank)A customer plays a “wheel of fortune” game with the members of Hyundai Oilbank’s “Dream team” at a gas station, as part of a customer service program run by the company. The refinery has been dispatching the Dream team to gas stations every day to offer entertainment for customers and help managers and employees. The company is the only refinery firm in South Korea with “market designers” to provide consultations in services as part of the company’s aim to expand and maintain it
April 29, 2018
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Ottogi notches up ramen packaging for microwave use
Since Ottogi launched the first microwavable packaging for its instant noodles with paper in 2009 for Odongtong Ramen, the South Korean food manufacturer has expanded the lineup with its convenient and environmentally friendly packaging for its other signature brands.Instant noodle cups for Jin Ramen, Chamggae Ramen and Real Cheese Ramen are now packed in microwavable paper containers with special technique developed by Ottogi. This enables personal variations, such as adding eggs, dumplings or
April 29, 2018
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[News Focus] South Korea cautiously braces for inter-Korean economic cooperation
Although the Panmunjeom Declaration signed between the two Koreas on Friday minimized economic cooperation, it still left ample room for the possibility of future cooperation between the two nations in resource development, infrastructure investment and the resumption of the Kaesong Industrial Complex. The Panmunjeom Declaration included the phrase “actively pushing for the businesses agreed in the declaration on Oct. 4 in 2007” between former president Roh Moo-hyun and former leader Kim Jong-il
April 29, 2018
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[IP in Korea] 'Excessive regulations act as disincentive in pharma patent sector'
The Korea Herald is publishing a series of interviews on experts in the intellectual property sector. This is the 13th installment. -- Ed.Due to its active trade relations with leading Western nations, South Korea has long been a frontrunner in introducing patent protection measures in various sectors, including the pharmaceuticals industry.While such early adoption had the positive effect of stimulating the country’s intellectual property environment, it has also involved a number of excessive
April 29, 2018
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Police to question Korean Air heiress as suspect next Tuesday
Police said Saturday that they will question a daughter of Korean Air's chairman as a suspect over allegations that she threw water at an ad agency's employee during a business meeting.Cho Hyun-min, a 35-year-old Korean Air senior executive and younger daughter of the airline's chairman Cho Yang-ho, was booked and banned from overseas travel earlier this month. She will be questioned next Tuesday on charges of assault and obstruction of business, according to the police.Police are expected to gr
April 29, 2018
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[2018 Inter-Korean summit] Prospects for inter-Korean business grow over historic summit
While the world watched the historic inter-Korean summit on Friday, the business community in Seoul showed guarded optimism, serving as a reminder of lingering geopolitical challenges and sanctions, amid the envisioning of potential infrastructure projects across the border.The leaders of the two Koreas agreed, among other pledges, to resume the discontinued work of reviving a trans-Korea railway and land routes, connecting Seoul and Shineuiju and also the east and west coasts of the peninsula.
April 27, 2018
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Choice of car by leaders of two Koreas: Benz
While all eyes were on the two leaders of the Koreas for the historic summit held at the border village of Panmunjeom on Friday, North Korean leader Kim Jong-un’s taste for finer things has also grabbed attention. Although it was not aired how Kim travelled 210 kilometers from the capital city of Pyongyang to the truce village of Panmunjeom for the summit, Kim returned to the North for lunch in one of his all-black armored Mercedes-Benz S600 Pullman Guard luxury limousine.North Korean leader Kim
April 27, 2018
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GM signs conditional deal with KDB to maintain S. Korean unit
General Motors on Thursday signed a conditional agreement with the Seoul government to help resolve the liquidity problems facing its South Korean unit, the state-run Korea Development Bank said. In the deal to be finalized early next month, GM and the KDB agreed to inject a combined 7.7 trillion won ($7.15 billion) -- 6.9 trillion won from GM and 810 billion won from the KDB -- into the cash strapped carmaker. In this photo taken April 26, 2018, GM President Dan Ammann (L) speaks in a meeting
April 26, 2018