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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[Photo News] Barogo's motorcycle drivers deliver kimchi to the underprivileged in Seoul
KIMCHI DELIVERY TO THE POOR – Rep. Park Young-sun of the ruling Democratic Party of Korea (second from right) and Guro-gu Mayor Lee Sung (right) load kimchi and fresh eggs onto motorcycles operated by Korean food and goods delivery service provider Barogo in Seoul, Wednesday. The startup delivered 670 plates of eggs and 1,180 kimchi cabbages donated by the Kookmin Ilbo to underprivileged households and social service centers in Guro-gu as part of its seasonal charity program. (Courtesy of Barogo
Nov. 22, 2017
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Korea to take firm stance against further opening of agriculture in KORUS
The South Korean government has expressed its firm stance to the United States against the additional opening of the agricultural market in the upcoming negotiations to amend the bilateral free trade pact, a senior ministry official said Wednesday."The government will not strike deals that turn the balance of interest against us," Yoo Myung-hee, a director general at the trade ministry, said in a Seoul meeting with people from the agricultural sector. "In previous talks, we've explained the sens
Nov. 22, 2017
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[PyeongChang 2018] Consumers queue overnight to buy ‘PyeongChang Coat’
The in-demand PyeongChang long padded coat sold out early Wednesday morning with eager consumers queuing from Tuesday evening.Lotte Department Store announced that its 7,000 PyeongChang long padded coats sold out nationwide by 6 a.m. on Wednesday due to the long line of shoppers.Branches around the country were allocated tickets to give to consumers in order to buy the much sought after coat. At Lotte Department Store Avenuel, World Tower Branch, people started arriving at 8 p.m. Tuesday, after
Nov. 22, 2017
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Chinese firms nearly topple Samsung in India
Chinese smartphone firms that dominate their country’s market are now rapidly moving into India, where Samsung has taken the lead over the past six years. According to a report released by Counterpoint Research on Tuesday, Samsung barely retained its top spot with a 22.8 percent share in the Indian smartphone market during the third quarter. Chinese smartphone maker Xiaomi closely followed with a 22.3 percent share in the same period.Another research firm, Strategy Analytics, showed Samsung had
Nov. 22, 2017
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[PyeongChang 2018] Airbnb officially supports 2018 Winter Olympics
Airbnb signed on to become an official supporter of the 2018 PyeongChang Winter Olympics on Wednesday. The community-driven hospitality firm will work with the local community to offer accommodation to travelers visiting Gangwon Province during the games. At a signing ceremony that took place Wednesday, Uhm Chan-wang, director of the PyeongChang Organizing Committee, expressed gratitude to Airbnb for participating as an official supporter.Uhm Chan-wang, director of the PyeongChang Organizing Com
Nov. 22, 2017
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Korean fashion firms accelerate restructuring amid slump
South Korean fashion companies are accelerating their move to trim unprofitable brands amid a prolonged domestic slump, industry sources said Wednesday.Handsome Corp., the apparel unit of Hyundai Department Store Group, said it is in the process of closing down one of its brands, Mothan."It is part of our efforts to improve profitability and to build a stable growth base," a company official said.Shinsegae International Inc., the apparel arm of retail giant Shinsegae, meanwhile, is re-examining
Nov. 22, 2017
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[PyeongChang 2018] Travel authorities step up PyeongChang Olympics promotional shows across continents
Tourism authorities are cranking up promotions to attract foreign visitors to the 2018 PyeongChang Winter Olympics by engaging actively in international travel events across all continents, officials said Wednesday.The Korea Tourism Organization led a large delegation to the China International Travel Mart, one of the largest professional travel exhibits in Asia, held in Kunming from Nov. 17-19. Representatives from 15 local governments and institutions operated a 198-square-meter booth at the e
Nov. 22, 2017
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US trade panel calls for import restrictions on Korean washers
WASHINGTON -- A United States trade panel on Tuesday called for import restrictions on South Korean washing machines to improve the standing of domestic rivals.The US International Trade Commission said it is recommending a 50 percent tariff rate on large residential washers built by Samsung and LG, and exceeding a quota of 1.2 million units.The recommendation comes in response to a safeguard petition filed by US-based Whirlpool in May. The commission determined last month that the Samsung and L
Nov. 22, 2017
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S. Korean tycoon's son under heat for misconduct
A scion of South Korea's Hanwha Group, a chemical-to-finance conglomerate, came under fire once again for misconduct, this time, against lawyers, in the latest case involving the family running one of the country's biggest businesses. In a statement released Tuesday by Hanwha, Kim Dong-seon, the youngest son of Hanwha Group Chairman Kim Seung-youn, publically apologized for his use of foul language and assault while intoxicated during a dinner meeting with a group of attorneys in September."If g
Nov. 21, 2017
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Lotte chairman sells W214b worth of shares in retail unit
Lotte Shopping Co., the retail affiliate of South Korea's fifth-largest conglomerate Lotte, said Tuesday that the group chairman sold part of his holdings in the company for 214.6 billion won ($196 million).Chairman Shin Dong-bin unloaded over 1 million shares of Lotte Shopping after the local stock market closed, the company said in a regulatory filing. (Yonhap)The sales reduced Shin's stake in the company to 9.89 percent from 13.46 percent. Lotte Shopping said the chairman sold the shares to
Nov. 21, 2017
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[Save the startups] ‘Understanding why startups fail can help attract investment’
In order to acquire investment, it is crucial for startups not only to convince the potential investor, “why this specific business model will work right,” but also to display an insight as to “why similar attempts have not succeeded in the past,” advised a renowned entrepreneur-turned-investor. “Startups often tend to be so immersed in their innovative ideas and visions for the future that they may at times miss out on the history of their given sector,” Simon Seok-heun Kang, CEO and partner of
Nov. 21, 2017
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Lawmakers seek additional tax hikes on HNB cigarettes
Tobacco makers in South Korea are likely to face increased tax hikes on heat-not-burn cigarettes as legislators are to propose the bill.Starting this week, the parliament will hold subcommittees to review the bill on raising other taxes on HNB sticks to up to 90 percent of taxes levied on conventional cigarettes, according to officials at health and home affair ministries. The combined taxes are to be imposed on each 20-stick pack of HNB sticks will amount to 2,986 won ($2.74), from the previous
Nov. 21, 2017
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CGV denies accusations of violating antitrust law in Vietnam
Cinema operator CJ CGV on Tuesday denied accusations that it violated antitrust law and took part in monopolistic operations in Vietnam.“These allegations have already been investigated by the local antitrust watchdog, and have been found to be groundless,” a spokesman for CGV in Seoul told The Korea Herald.“The reason we are the top operator in Vietnam is because we have brought in innovative elements from the Korean film industry that were received well by the Vietnamese public, not because of
Nov. 21, 2017
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LG Chem in legal battle with ATL in US
Korean battery maker LG Chem is in a legal battle with its Chinese rival ATL over technology patents in the US, the Korean company confirmed on Tuesday. Last month, LG Chem and its Japanese partner Toray filed a complaint against ATL in Michigan where the South Korean company has plants producing batteries for clients including General Motors and Chrysler. LG accused ATL of infringing three US patents covering an LG-developed technology related to battery components called separators. LG Chem ha
Nov. 21, 2017
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Refiners to bask in another boom year
Aided by improved cracking margins and solid demand for petrochemical products, local oil refiners are forecast to pocket more record earnings this year, and their stellar performance may continue into next year, industry sources said Tuesday.Oil prices have been in the doldrums since 2015 on concerns of an oversupply. Crude oil prices, measured by Dubai crude, briefly dropped below $30 a barrel in January 2016, hitting a more than 10-year low. But since the second half of last year, oil prices
Nov. 21, 2017
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KT&G launches sales of new tobacco-heating device
KT&G Corp. South Korea‘s leading cigarette maker, on Monday officially began selling its new tobacco-heating device, amid growing popularity of heat-not-burn (HNB) products in the country. The new product, dubbed lil, heats up tobacco leaves without generating smoke using battery power, according to the company. KT&G said the 10,000 units it put on the market via pre-order were sold out in just two days last week. The consumers who purchased the items during the period can pick up the devices st
Nov. 20, 2017
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Lotte makes solo bid for duty-free license in Seoul
Lotte Duty Free, South Korea‘s No. 1 duty-free operator, has submitted a bid to renew its license to run a store in Seoul, authorities said Monday, amid growing hopes for a return of Chinese tourists. Lotte Duty Free applied to win the license to continue its operation at the Convention and Exhibition Center (COEX) in the southern part of the capital city, as it has been doing since 2010. The Seoul customs office opened the process as Lotte’s current contract is set to expire at the end of next
Nov. 20, 2017
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SK Group pulls out of used car market
SK Group has pulled out of the online and offline used car market, selling its stake in its online used car seller to its Australian partner, according to a disclosure Monday.According to the filing, SK sold its 50.01 percent stake in SK Encar.com to Carsales Holdings for 205 billion won ($186.4 million). Australia-based Carsales Holdings acquired 49.9 percent of the company in 2014. Through this deal, Carsales will hold 100 percent stake in SK Encar.com.Last month, SK Group finalized a deal to
Nov. 20, 2017
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iPhone X face ID rejected by Korean banks
The facial recognition security feature of Apple’s iPhone X has been rejected by Korean banks due to security concerns, which might cause inconvenience to users wanting to use mobile banking services here. Following reports that the security of the new phone’s Face ID had been broken by hackers, local banks are hesitant to adopt the biometric authentication technology, according to the financial industry Monday. (Yonhap)Around 20 commercial and online banks said they would not provide a facial a
Nov. 20, 2017
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[Monitor] Samsung's Lee family 2nd richest in Asia
The Lee family behind the Samsung empire was ranked second on Forbes’ list of Asia’s wealthiest families, losing the top spot to the Ambanis, the family which controls the Indian conglomerate Reliance Industries.According to the annual report by the US magazine, the South Korean family, which topped the list in 2015 and 2016, saw its wealth surge to a combined $40.8 billion this year but was overtaken by the Ambanis, which saw their shares in Reliance Industries soar, driven by gains in its tele
Nov. 20, 2017