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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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Controversial cult leader’s sentence reduced to 17 years
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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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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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Market uncertain on Korea's October rate cut despite slowed inflation
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One in 10 units of top groups listed as foreign-invested firms
Slightly over 1 in 10 subsidiaries of South Korea's top 10 business groups are listed as foreign-invested companies eligible for tax and other benefits, a market tracker said Monday.As of end-November, 91 of the groups' 665 units, or about 14 percent of the total, were registered with the government as foreign-invested corporations, according to Chaebul.com.Those companies include Hotel Lotte Co., Lotte Chemical Corp., Hotel Shilla Co. and Hyundai Glovis Co. The number is up 34 from 2017.Under S
Dec. 18, 2017
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Korea's ratio of domestic demand to GDP ranks low: report
South Korea's ratio of domestic demand to its gross domestic product ranks low among major advanced and emerging markets, which could come as a hurdle to its sustainable growth, a report showed Monday.South Korea's domestic demand accounted for an average 61.9 percent of its GDP between 1996 and 2015, according to the report from the National Assembly Budget Office.The figure ranks 27th among the 35 member nations of the Organization for Economic Cooperation and Development, and six major emergi
Dec. 18, 2017
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KITA holds forum to support Korea-China business cooperation
South Korean and Chinese government leaders and business representatives on Saturday gathered to discuss future cooperation at a business forum organized by Korea International Trade Association on the occasion of President Moon Jae-in’s China visit, the association said Sunday.Along with Moon, a total of some 300 participants joined talks held in Chongqing, to share ideas on potential partnerships in various industries as well as in jointly advancing into other markets. President Moon Jae-in (f
Dec. 17, 2017
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Samsung’s new chip leader likely to put SoC, foundry businesses first
Kim Ki-nam, chief executive officer of Samsung Electronics’ devices solutions business, is expected to discuss measures to find new profit sources, pivoting on non-memory and foundry businesses, for the company’s most lucrative unit at an upcoming strategy meeting, according to the industry on Sunday. Kim is scheduled to hold the “Global Strategy Meeting” on Tuesday, a twice-yearly meeting held in June and December at the company to set new strategies and plans for the upcoming year. Kim was app
Dec. 17, 2017
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China approves construction of 3 Korea-China industrial parks
BEIJING -- China has approved the construction of three industrial parks to be jointly operated by South Korean and Chinese firms, its website said Sunday, amid growing signs of improvement in bilateral relations.In a circular released by the Chinese State Council on Friday, the government gave the green light to the separate projects to build industrial parks in three cities -- Yancheong in Jiangsu Province, Yantai in Shandong Province and Huizhou in Guangdong Province.The construction projects
Dec. 17, 2017
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[Herald Interview] Alice Martha pursues new markets with no-frills fast fashion
The Korea Herald is publishing a series of interviews with the CEOs of small but aspiring brands that are taking Korean fashion and beauty overseas through online shopping malls. This is the third installment. -- Ed.Kwak Chang-hun is a force of energy, the type of man that seems to speak with his whole body.“You want an Americano? Let me make you an Americano. I just bought this machine,” he said as he bustled towards an espresso machine sitting behind the counter at bag brand Alice Martha‘s off
Dec. 17, 2017
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[Weekender] How do skyscrapers work?
Skyscrapers are not just buildings that are tall, but are the outcome of a complex combination of evolving technologies. From highly sophisticated engineering techniques to futuristic elements, today’s skyscrapers have absorbed the latest technology to realize a luxurious human dream.The challenge when building a skyscraper is how to overcome the forces of nature -- wind, heat from above and below and natural disasters that can happen without warning.The key to overcoming these challenges is in
Dec. 15, 2017
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[Weekender] Skyscrapers altering skyline of Korea
With an unprecedented boom in construction of skyscrapers in South Korea, today’s tallest building in the country can never sit comfortably as candidates queue up to replace it. The 305-meter, 68-story Posco Tower-Songdo was opened in 2011 in Songdo International City, as the world’ most expensive private real estate project. Located in the Incheon Free Economic Zone, the skyscraper was the nation’s tallest building, flaunting its imposing height. With an investment of 516 billion won ($413 mill
Dec. 15, 2017
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Google suspected of underreporting income in Korea
Google Korea reported less than 20 percent of its actual sales generated in Korea, according to local media reports Friday, prompting calls for the US search giant to properly disclose its sales and pay taxes here. According to local broadcaster SBS, the Korean arm of Google reported sales of 267.1 billion won ($245 million) to tax authorities last year, much less than its estimated sales of 1.8 trillion won calculated by app analysis firm IGAWorks. Such a low sales figure may be reported becaus
Dec. 15, 2017
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[Weekender] South Korea’s skyscraper dream
Cloud-piercing skyscrapers filling the skylines are often held up as a symbol of a country’s economic power and technological development.Korea’s first high-rise 63 Building located in Yeouido, western Seoul, opened doors to the public in July 1985 during the country’s rapid economic growth.The 274 meter high, 63-floor building is no longer the tallest building here. But it stands as a landmark and a symbol of the so-called Miracle on the Han River. After the 1997 Asian financial crisis the Kore
Dec. 15, 2017
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Phillip Morris to hike e-cigarette price by 4.7%
The South Korean unit of Philip Morris International Inc. said Friday it will jack up the price of its heat-and-burn electronic cigarette by nearly 4.7 percent next week.The per-pack price of HEETS, the tobacco units used with its electronic tobacco heating device IQOS, will go up to 4,500 won ($4.13) starting Wednesday, a 4.65 percent increase from the current 4,300 won.The envisioned price raise is to reflect a recent jump in the individual consumption tax imposed on heat-and-burn products and
Dec. 15, 2017
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Air Busan to launch charter flights to Kumamoto
Air Busan Co. said Friday it will launch three weekly charter flights to Kumamoto from Busan this month through February so tourists can enjoy the hot springs and golf courses in the central Japanese city.A 195-seat A321-200 jet will depart Gimhae International Airport early in the morning every Tuesday, Friday and Sunday between Friday and Feb. 27.The city is the capital of Kumamoto Prefecture on the west coast of Japan's Kyushu Island and is famous for its old castle and recreational infrastru
Dec. 15, 2017
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Samsung BioLogics completes 3rd plant in Songdo
Samsung BioLogics has completed the construction of its third plant boasting an annual production capacity of 180,000 liters in Songdo of South Korea.The Korean contract drug manufacturer announced that it has finished building its third production plant, which stands as the biggest single-site biologics drug manufacturing facility in the world.The facility is a four-square building that spans across 118,618 square meters, which is the size of around two football fields, according to Samsung Bio
Dec. 15, 2017
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[Eye Plus] ‘LP bars’ shine in tech-saturated Korea
As the world delves further into the digital revolution led by new, cutting-edge technologies, many South Koreans are seeking solace from the mainstream by embracing the simpler times of the past. A key manifestation of this countertrend is the rise of “LP bars” -- retro music bars where visitors can listen to LP records of old music with an analog sound.Surprisingly, these bars are most popular among not older generations, but people in their 20s and early 30s who have found a new way of enjoyi
Dec. 15, 2017
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State utilities to expand drone use for facility maintenance
South Korea's state-run utilities companies will expand the use of drones in checking power stations and other facilities to improve efficiency and safety, the energy ministry said Friday. The Ministry of Trade, Industry and Energy announced the plan in a meeting of drone developers, state utility firms and research institutes to expand use of the unmanned aerial vehicles in the energy sector.The Korea Power Electric Corp., which has been using 37 drones for system maintenance since May 2016, sa
Dec. 15, 2017
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Antitrust chief urges voluntary change of conglomerates
The head of South Korea's antitrust watchdog said he expects the country's large businesses groups to voluntarily reform their cobweb-like family-run governance structures to meet market expectations and promote fair competition."I once again reaffirm that I will never be pushy and coercive in carrying out reform on conglomerates," Fair Trade Commission Chairman Kim Sang-jo said in a meeting with reporters on Thursday. "They are fully aware of what they have to do and I hope they will change the
Dec. 15, 2017
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Korean washers popular in US despite trade row
South Korean washers are receiving top-notch reviews from US tech evaluators, industry watchers said Friday, amid actions being taken by Washington's trade watchdog to slap tariffs on some products.US-based industry tracker Reviewed said in its latest report that LG Electronics Inc.'s washer with the model name LG WM9000HVA won the Best Washers for Large Families category."LG's TurboWash feature is remarkable. It mixes up the spray pattern of a wash cycle in order to speed things up while still
Dec. 15, 2017
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SK Incheon Petrochem forecasts another record-breaking year
SK Incheon Petrochem, the petrochemicals unit of the nation‘s top refiner SK Innovation, is expected to post record-high operating profits this year, largely backed by swift sales of the company’s paraxylene products used to produce polyester textiles and plastic bottles. SK Incheon Petrochem's plants in Incheon (SK Incheon Petrochem)SK Incheon Petrochem expects to log operating profit that could surpass the record number achieved last year, the company‘s officials said. The petrochemicals unit
Dec. 14, 2017
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[Photo News] Korea Importers Association celebrates 47th anniversary
CELEBRATING IMPORT -- Participants attend a ceremony marking the 47th anniversary of the Korea Importers Association at Westin Chosun Hotel in Seoul on Wednesday. From front row fifth from left are Ghana Ambassador to Korea Difie Agyarko Kusi, Canadian Ambassador Eric Walsh, KOIMA Chairman Shin Myoung-jin, wife of Chairman Shin Lee Kyung-hee, Czech Ambassador Tomas HUSAK and South African Ambassador Nozuko Gloria Bam. (KOIMA)
Dec. 14, 2017
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S-Oil rewards heroic firefighters
S-Oil has presented awards and prizes worth 90 million won ($82,700) to eight heroic firefighters at a ceremony held at the Yeongdeungpo fire department in Seoul on Thursday, the company said. S-Oil CEO Othman al-Ghamdi (left) poses with firefighter Kim Mee-hee during an award ceremony at Yeongdeungpo fire department in Seoul on Thursday. (S-Oil)After receiving nominations from the National Fire Agency and the Korea National Council on Social Welfare, the company decided to reward firefighter Ki
Dec. 14, 2017