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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Sales of groceries at convenience stores on rise
Sales of groceries at convenience stores increased sharply in the first quarter of this year from a year earlier, local store franchise chain CU said Sunday, apparently as more customers opted to shop at accessible outlets that are open at all times.According to the data compiled by the chain, the sales of groceries, including vegetables, grains, eggs, and frozen pork, shot up 21.2 percent this year through Saturday compared to the same period in 2017. The growth compares to the 1.6-percent on-y
March 25, 2018
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Global market for smartwatches set to double throughout 2022
The global market for smartwatches is anticipated to double by 2022 as more consumers are becoming aware of the healthcare and mobile-payment related features of the devices, industry watchers said Sunday.According to the data compiled by the International Data Corporation, combined global shipments of smartwatches are set to reach 43.6 million units this year, and increase to 84.1 million units in 2022."Consumers are finally starting to understand and demand the utility of a smartwatch," said J
March 25, 2018
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Joint surety for policy funds assistance to be halted: biz corporation
South Korea's Small and Medium Business Corp. said Sunday it will no longer ask for joint surety for policy funds it provides to better allow people set up new companies.The public corporation said the rules, which will go into effect Monday, come after the practice of asking for mutual guarantees for funds provided have been gradually curtailed over the years. After restrictions were imposed on not asking for a third party to stand surety for funds in 2012, only the owner of a business was requ
March 25, 2018
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Korean SME exports to Vietnam reach $12.6 bln in 2017
South Korean small and medium enterprises exported $12.6 billion worth of goods to Vietnam in 2017, data by a local think tank said Sunday.According to the Korea Small Business Institute, the Southeast Asian country was the second-largest overseas market for SMEs, with outbound shipment growth surging 33.4 percent over 2016.The country was the second-largest destination for products made by medium and small local companies, coming in second only to China. In the previous year, Vietnam was the fo
March 25, 2018
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S. Koreans' overseas direct purchases of Chinese electronics surge in 2017
South Korean people's overseas direct purchases of Chinese electronic devices more than doubled last year from the previous year on rising demand for cheaper and better products, customs data showed Saturday.A total of 4.09 million purchases of Chinese products were directly made via overseas internet shopping malls in 2017, up sharply from the previous year's 1.94 million, according to the data by the Korea Customs Service. (Yonhap)Out of the total, electronic devices, including mobile portable
March 24, 2018
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Kakao M names new CEO
An entertainment subsidiary of Kakao Corp., the operator of South Korea's top mobile messenger, named a new CEO on Friday. New CEO Lee Je-wook (Kakao M)Lee Je-wook was named as the new chief of Kakao M, a subsidiary of Kakao Corp. that operates South Korea's major music streaming service, Melon. The appointment was confirmed at a shareholders' meeting.Kakao M also changed its name from LOEN Entertainment Inc.Lee, who first started his career at SK in the Internet business, has worked at major co
March 23, 2018
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Korean steelmakers remain cautious on tariff uncertainty
Local steelmakers on Friday remained cautious following the US’ decision to pause imposing 25 percent tariffs on Korean steel products until the end of April.“The temporary exemption is a positive sign, but uncertainty continues as the decision is not a definitive one,” said the spokesperson of Korea Iron and Steel Organization.“We will fully support the government to persuade the US for permanent exemption.”Due to the temporary exemption, tariffs won’t be levied on steel and aluminum imported f
March 23, 2018
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Shareholders have love-hate relationship with Samsung
Samsung’s annual general meeting of shareholders held Friday was a representative scene of Koreans’ love-hate relationship with the country’s biggest conglomerate, despite the absence of its Vice Chairman Lee Jae-yong.Shareholders from young students to the elderly, who came from various parts of the country, lashed out at the board of directors during the two-hour session held at Samsung Electronics’ Seocho head office in southern Seoul. For instance, a middle-aged man issued a complaint to CEO
March 23, 2018
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Samsung pledges to enhance shareholder value by increasing payouts until 2020
Samsung Electronics agreed to enhance shareholder value and pledged to keep increasing dividends for shareholders until 2020 at a general meeting of shareholders on Friday. At the annual shareholders meeting attended by 502 registered retail and institutional investors, four agenda items were proposed by the board of directors and approved by the shareholders. As widely expected, Samsung’s heir apparent Lee Jae-yong did not attend the meeting, remaining out of the public eye for six weeks since
March 23, 2018
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KB Financial chief apologizes for alleged hiring irregularities
The chairman of KB Financial Group Inc. apologized on Friday for being embroiled in allegations of hiring irregularities at the financial group's flagship bank.Police raided the homes and offices of KB Financial's senior executives, including Chairman Yoon Jong-kyoo, earlier this month over hiring irregularities at Kookmin Bank.Yoon's grandniece has been reportedly suspected of being hired at the bank in 2015 after receiving a special favor. KB Financial Chairman Yoon Jong-kyoo (Yonhap)"I am rea
March 23, 2018
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Hite Jinro to export 30,000 bottles of new soju to Hong Kong
Hite Jinro Co., a major South Korean liquor maker, said Friday it will soon ship 30,000 bottles of its new "Chamnamootong Margeunisul" soju, the traditional Korean distilled liquor, to Hong Kong.The premium soju will be distributed to restaurants, supermarkets and bars through local distributors.The new brand with alcohol content of 16 percent in a 300 milliliter bottle was launched in South Korea last December and is made from alcohol aged in wooden casks melded with morning dew for delicate ar
March 23, 2018
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Samsung holds shareholders' meeting, heir apparent not in attendance
Samsung Electronics Co. on Friday held a shareholders' meeting in Seoul in which some 400 shareholders as well as major executives touched on current issues surrounding the company.Lee Jae-yong, heir apparent of the Samsung conglomerate, did not participate in the gathering. It was the first shareholders' meeting held by the tech giant since Lee was released from prison last month after being embroiled in a political scandal that led to impeachment of former President Park Geun-hye."Samsung Elec
March 23, 2018
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Number of visitors to Korea continues to slide in February despite Olympics
The number of foreigners who visited South Korea last month dropped 16.5 percent on-year, the 12th straight month of decline despite the PyeongChang Winter Olympics mainly due to a plunge in the number of Chinese tourists, government data showed Friday.The total number of inbound visitors came to 1.05 million in February despite South Korea's hosting of the 17-day international sports event in the country's alpine resort town of PyeongChang, some 180 kilometers east of Seoul, according to the da
March 23, 2018
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Hyundai E&C, Hyosung removed from sustainable biz index
Four industrial companies -- Hyundai Engineering and Construction, Hyundai Steel, Daelim Industrial and Hyosung -- will be removed from a list of the top 150 businesses that enhance corporate transparency by the Korea Exchange, according to the nation’s sole securities exchange operator on Thursday.Based on the latest evaluation of listed companies on their efforts in enhancing corporate transparency in environmental, social and corporate governance, the four firms will be excluded as of March 2
March 22, 2018
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Park Yong-maan re-elected as KCCI chairman
The incumbent chairman of the Korean Chamber of Commerce and Industry was unanimously re-elected as the head of the organization representing the interests of businesses here on Thursday.Accepting the chairman post, Park Yong-maan said he would turn the KCCI into a private think tank to better provide policy suggestions on industries, economy and labor. Korean Chamber of Commerce and Industry Chairman Park Yong-maan (KCCI)“The KCCI will make full-pledged efforts to provide ideas on policy altern
March 22, 2018
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SK Innovation’s new PR clip features hyperlapse technique
SK Innovation on Thursday released a new promotional clip made using the hyperlapse technique combined with satellite images of the earth. The Hyperlapse technique refers to a method of time-lapse photography designed to create motion shots, by moving a camera between each shot and combining the snaps into a clip. SK Innovation’s clip features over 1,800 satellite images depicting business areas of the South Korean refiner, and uses 30 photos per second. A screen grab of SK Innovation’s new 1-mi
March 22, 2018
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President Moon to attend Korea-Vietnam business forum
South Korea’s President Moon Jae-in and Vietnam’s President Tran Dai Quang are to attend a Korea-Vietnam business forum in Hanoi, Vietnam, on Friday, the Korea Chamber of Commerce and Industry said Thursday. This will mark the first forum since the two nations formed business ties in 1992, KCCI added. “It’s been a norm that deputy prime ministers headed the forum’s representatives,” a KCCI official said, adding Quang’s visit to the forum means Vietnam regards Korea as an “important partner for b
March 22, 2018
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[Photo News] Meat Vending Machine
(BGF retail)A customer picks up a box of packaged Korean pork from a vending machine at local convenience store chain CU on Thursday. In collaboration with Nonghyup and telephone company KT, CU said it has invented a “CU Internet of Things smart vending machine” which offers freshly packaged Korean beef and pork. Each box contains 300 grams of meat which is economical and convenient for single-person household, CU said.(khnews@heraldcorp.com)
March 22, 2018
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Korean Air-Delta joint venture to get ‘conditional approval’
A transpacific joint venture between Korean Air and Delta Air Lines will be given conditional approval from the government and will launch within the first half of this year, sources said Thursday. Hanjing Group Chairman Cho Yang-ho (fourth from right) and Korean Air CEO Cho Won-tae (third from right) pose for a photo after signing a contract for partnership with Delta Air Lines CEO Ed Bastian (fourth from left) in Los Angeles on June 23, 2017. (Korean Air)According to the sources, the Ministry
March 22, 2018
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Starbucks Korea to test run cashless stores
Starbucks Coffee Korea said Thursday that it would test run cashless operations at three of its branches next month, amid the growing use of credit cards and mobile payments. Starbucks Coffee Korea officials promote the test-run of cashless stores. (Starbucks Coffee Korea)Three branches including two in Seoul -- one near Samseong Station in Gangnam and one in Guro -- and one in Pangyo in Seongnam will go cashless from April 23, the company said. All three stores are located in bustling business
March 22, 2018