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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Controversial cult leader’s sentence reduced to 17 years
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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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Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
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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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[K-Style Trailblazers] Projekt Produkt takes Korean eyewear fashion to Europe and beyond
The Korea Herald is publishing a series of interviews with CEOs of small but aspiring brands that are taking Korean fashion and beauty overseas through online retailers. This is the second installment. -- Ed.The first flagship store for eyewear brand Projekt Produkt blends naturally into the upscale Apgujeong district in Gangnam-gu, Seoul. The angular gray concrete building is plated with glass windows along its bottom floor, where Projekt Produkt’s sleek, colorful offerings sit on glass stands
Dec. 10, 2017
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Novartis Korea under tax probe as corruption scandal trial continues
South Korea’s tax authorities have launched an investigation into Novartis Korea in what industry watchers speculate may be linked to the company’s corruption scandal that broke out last year, marking the latest event to place a negative spotlight on the Swiss pharmaceutical giant.Last week the National Tax Service began a tax probe into Novartis Korea, zeroing in on the company’s spending records. It did not clarify the purpose of the investigation at the time.Though Novartis Korea claims it is
Dec. 10, 2017
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[Photo News] ‘Battlegrounds’ named ‘Best Multiplayer Game’ in US
BEST MULTIPLAYER GAME -- "PlayerUnknown's Battlegrounds," the hit survivor shooter game developed by PUBG, a subsidiary of Korea's Bluehole Studio, was named Best Multiplayer Game at The Game Awards held in Los Angeles last week. As of early December, "Battlegrounds" had sold more than 24 million copies via online game platform Steam and achieved more than 3.04 million concurrent players, breaking Steam records, according to Bluehole Studio. Pictured are PUBG's CEO Kim Chang-han (left) and Creat
Dec. 10, 2017
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Autos, IoT to lead semiconductor growth going forward: report
Autos and Internet of Things will lead growth in the semiconductor market going forward, a report by a global industry tracker said Sunday.According to IC Insights Inc., new growth engines will fuel advances in the computer chip market as demand for them in mobile phones remains a solid pillar for the industry that has witnessed a surge in growth in recent years. It said the global semiconductors will continue to grow for the foreseeable future.The chip market researcher claimed semiconductors u
Dec. 10, 2017
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Samsung Pay expanding into mobile banking service
Samsung Electronics Co.'s mobile payment system is moving to expand into the banking sector to offer more diverse services to users, the South Korean tech giant said Sunday.The company said that starting Thursday, the payment system installed on some of its newer smartphones can be used to carry out transactions at some local banks.Under the upgrade, the 9 million domestic users of Samsung Pay, who can now use their phones like cash or credit cards, as well as at ATMs, will be able to withdraw o
Dec. 10, 2017
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Korea's construction trade surplus plunges as orders dip
South Korea's trade surplus for construction plunged in October as new orders from the Middle East dipped due to a decline in oil prices, data showed Saturday.South Korea reported a trade surplus of US$428 million in the construction sector in October, down 32.9 percent from a year ago, according to the data from the Bank of Korea. This is the smallest monthly figure since February 2007, according to the data. South Korea's positive balance of trade for construction began falling in late 2014, w
Dec. 9, 2017
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Coupang launches cat products under premium PB Tamsaa
South Korea’s e-commerce platform Coupang said Friday it has launched new products for cats under its premium brand TamsaaTM, further stepping into the lucrative pet market while expanding its private brand lineup.The products, Tamsaa Cat Food and Tamsaa Cat Litter, were developed after analyzing the lifestyle of cats, cat owners, their habits and tendencies, the company explained.With Tamsaa Cat Food, the company offers a choice of three combinations of taste and benefits with recipes incorpora
Dec. 8, 2017
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Kakao Friends boosts sales via ‘Winter Ryan’
Kakao Friends has jumped on the bandwagon of releasing a “special product,” as consumers lined up to purchase its limited character edition “Winter Ryan.” The company announced Friday that this year‘s newest, limited Ryan doll is now sold out. Its price tag was 59,000 won ($52) per doll. Consumers raved about the doll’s cuteness as it comes with a red or navy long, padded coat, thus calling Winter Ryan the “Padded jacket Ryan.” "Winter Ryan" in red or navy padded coat(Kakao Friends)It may be fa
Dec. 8, 2017
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[Herald Interview] Korean creators capable of global growth: Collab Asia CEO
South Korean content creators show potential for global growth particularly in gaming, K-pop and beauty-related content, through which they would be able to stabilize income from platforms, according to the head executive of Collab Asia Friday.“By bringing in more viewers from abroad, Korean creators can increase their stable income through YouTube,” Eugene Choi said in a group interview Friday. Choi visited Korea as part of the CKL Live Talk, a two-day forum for content start-ups hosted by the
Dec. 8, 2017
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Korean retailers allowed to sell menstrual ‘cup’
After the “sanitary pad scare” swept the nation last summer, there were voices that demanded the government to allow the sales of menstrual cups in Korea. Before, there hadn’t been a manufacturer entitled to sell the product in Korea, though it is widely used in other countries. Consumers had to purchase the product through overseas websites and pay a high price for delivery.The Ministry of Food and Drug Safety announced Thursday, that it approved the sales of “Femmycycle,” a menstrual cup made
Dec. 8, 2017
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[Management in Korea] Reversing culture of scarcity
Management in Korea is a regular column written by the members of Egon Zehnder Seoul touching on various aspects of Korean enterprises and business leaders and offering management tips. -- Ed.Korean companies historically have been reluctant to recruit from the outside. Increasingly, however, they are hiring external talent, particularly when they need to quickly expand in a critical area. Unfortunately, our observation in working with many of Korea’s leading corporations is that external hires
Dec. 8, 2017
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Korea’s shipbuilding orders look to finish at world’s No. 2 this year
Build orders for South Korea’s rebounding shipbuilding industry are likely to reach the second highest in the world this year, following China, according to data by British shipbuilding and marine analysis agency Clarkson Research Services on Friday. The research data shows that China‘s cumulative order volume for the January to November period reached 7.13 million CGT or 324 vessels, followed by Korea with 5.74 million CGT and Japan at 1.82 million CGT. CGT refers to the Compensated Gross Tonn
Dec. 8, 2017
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[Newsmaker] Shinsegae to implement 35-hour workweek ‘with no pay cut’
Korean retail giant Shinsegae decided to institute a 35-hour workweek to enhance employee’s working conditions, the company said Friday. The move marks the first time for a local conglomerate to implement such a short work week. Under the policy, all employees from Shinsaegae’s retail sectors are set to work seven hours a day from January. Working hours are from 9 a.m. to 5 p.m., but it could be flexible depending on the types of work. Shinsegae Group Vice Chairman Chung Yong-jin (Yonhap)The wag
Dec. 8, 2017
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KEPCO CEO retires after securing top bidder status in British nuclear project
NAJU, South Korea --The head of the Korea Electric Power Corp. stepped down Friday, shortly before the end of his five-year term, after getting the state-run utility firm a step closer to securing a nuclear project in Britain.Cho Hwan-eik announced his decision to step down after KEPCO was selected as the preferred bidder of Toshiba Corp. on Wednesday. The project calls for the construction of two nuclear reactors in Moorside, northwest England."KEPCO's beating (China Nuclear General) in the com
Dec. 8, 2017
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Korea strives to foster nuclear decommissioning industry
South Korea will ramp up efforts to develop technologies related to nuclear decommissioning as the country's oldest reactor is undergoing the lengthy, costly process of being dismantled, the energy ministry said Friday. The Ministry of Trade, Industry and Energy launched a consultative body composed of state-run utilities, construction companies and research institutes to put concerted efforts toward developing the nation's nuclear decommissioning industry, The ministry said it aims to develop t
Dec. 8, 2017
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Oil funds shine on rising crude prices
South Korea's oil exchange traded funds have posted stellar returns in recent months thanks to strong international crude prices, a fund evaluator said Friday.The country's three major oil ETFs posted an average return of slightly over 16 percent in the past three months to Wednesday, emerging as the top performers among local commodity funds, according to KG Zeroin. Oil ETFs consist of either crude firm stocks or futures and derivative contracts to track the price and performance of crude, or i
Dec. 8, 2017
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Hyundai workers to continue strikes next week
Unionized workers at Hyundai Motor Co. will continue to walk out next week for higher wages and bonuses after the company rejected the union's demands, the union said Thursday."In the past eight months of negotiations, the company has not shown any 'progressive' approach in the wage deal, repeating it faces difficult times and does not have room to fully accept the union's demands," the union said in a statement. In this photo taken on July 13, 2017, unionized workers at Hyundai Motor`s Ulsan p
Dec. 8, 2017
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CJ Group to strengthen cooperation with Vietnam
CJ Group Co-chairman Sohn Kyung-sik met with Vietnamese Prime Minister Nguyen Xuan Phuc in Vietnam to discuss about ways to bolster cooperation in food, logistics and culture, the company said Thursday.Joining the two at the meeting held on Wednesday evening, local time, were key executive level officials including Chang Bok-sang, president of CJ Group Vietnam. CJ Group Co-chairman Sohn Kyung-sik (left) meets with Vietnamese Prime Minister Nguyen Xuan Phuc in Vietnam on Wednesday. (CJ Group)“CJ
Dec. 7, 2017
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LG to release premium Signature smartphone
LG Electronics will be releasing a new limited-edition LG Signature Edition smartphone at the end of the month, according to the company on Thursday.The LG Signature Edition phone is the first smartphone in the LG Signature Edition line, which has released home electronics in the past. Just 300 phones will be available for sale, only in Korea. The LG Signature Edition smartphone (LG)The smartphone boasts 6 gigabytes of RAM and 256 gigabytes of internal memory, and comes with Bang & Olufsen wired
Dec. 7, 2017
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N. Korean missile risk leads airlines to change routes
Airlines operating routes between Korea and the US are changing flight paths to avoid areas that may be exposed to missile launches from North Korea.The first airline recently to take such a safety precaution was Singapore Airlines, which confirmed a flight path for its route between Incheon Airport and Los Angeles was changed after North Korea‘s missile launch on July 27 earlier this year. (Singapore Airlines)Korean carrier Asiana Airlines also changed flight paths on some of its routes betwee
Dec. 7, 2017