Most Popular
-
1
Ex-presidential official’s leaked phone call rattles conservative bloc
-
2
Slew of top K-pop stars ready to return from military
-
3
S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
-
4
N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
-
5
Controversial cult leader’s sentence reduced to 17 years
-
6
Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
-
7
Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
-
8
1,430 minors investigated for drug offenses from 2018 to 2023: police
-
9
BTS-themed moon jar to be unveiled on Hangeul Day
-
10
[Robert Fouser] Why the US election looks so close
-
Samsung delays reshuffles in absence of control tower
Samsung Electronics and other Samsung affiliates delayed their announcements of new executives Friday afternoon, amid rumors that they are facing difficulties in making choices without a control tower that used to coordinate such decisions.Each Samsung unit was reportedly to make their announcements within this week -- the first large-scale organizational shake-up since the Future Strategy Office was disbanded in February in the face of public criticism for exercising too much power while holdin
Nov. 10, 2017
-
KAI faces cost-cutting pressure for T-X program: KAI chief
Korea Aerospace Industries is facing pressure to continue cutting costs in its joint bid for the US Air Force’s T-X program together with Lockheed Martin, according to the company’s chief executive Friday.“In effect, the bidding has come down to Lockheed Martin and Boeing. We are a partner of Lockheed Martin,” newly appointed KAI chief Kim Jo-won told reporters. “We are continually discussing ways to cut costs so that we can offer a lower bid.” KAI President Kim Jo-won (KAI)However, Kim said th
Nov. 10, 2017
-
Korean aerospace company in talks with 9 countries to export planes
Korea Aerospace Industries Co., the country's sole aircraft manufacturer, said Friday it is in talks with nine countries to export its trainer aircraft.The company exported a total of 145 trainer planes -- made up of the turboprop KT-1 basic trainer and the supersonic T-50 advanced jet to countries in Europe and emerging markets in Asia, Africa, Latin America and the Middle East. The total value of sales has reached $3.7 billion so far.In a press meeting, KAI President and Chief Executive Kim Jo
Nov. 10, 2017
-
Hyundai Merchant narrows operating loss in Q3
Hyundai Merchant Marine Co., South Korea's top shipping firm, said Friday that it continued to suffer an operating loss in the third quarter of the year due to increased fuel costs and still lower freight rates but that it successfully narrowed the loss from a year earlier on cost-saving efforts.Its operating loss was 29.5 billion won ($26.4 million) in the July-September period, compared with 230 billion won the previous year, the company said.The third-quarter bottom line marks the 10th quarte
Nov. 10, 2017
-
Union at LG household & Healthcare to end strike
A labor union at LG Household & Healthcare said it decided on Friday to end its strike over the salary increase issue on the 52nd day of the walkout. Around 400 union members have set up tents outside the company's headquarters in downtown Seoul since Sept. 23, following the start of the strike on Sept. 20. The union and the management have held 19 rounds of negotiations during the subsequent period to find a compromise but have not made any progress, officials from the two sides said.The union
Nov. 10, 2017
-
Refiners report solid Q3 earnings on expanded margins
South Korean oil refiners, led by SK Innovation Co., delivered strong earnings for the third quarter of the year on the back of good refining margins and solid demand for key products, their filings showed on Friday.SK Innovation Co., the top oil refiner, reported an 87 percent rise in its third-quarter net profit from a year earlier thanks to higher oil prices and improved cracking margins.Net profit stood at 696 billion won ($625 million) in the July-September months, compared with a profit of
Nov. 10, 2017
-
Restaurants expecting better business in fourth quarter
The restaurant business was somewhat stunted in the third quarter this year but is expected to improve in the fourth quarter, mostly for those that serve foreign food, a sentiment survey showed Friday.The Korea Restaurant Business Index, released jointly by the Ministry of Agriculture, Food and Rural Affairs and the Korea Agro-Fisheries and Food Trade Corp., measured at 68.91 in the past quarter, lower than the 69.04 of the second quarter. The index is derived based on sales during the current a
Nov. 10, 2017
-
Shinsegae Duty Free to launch membership service for WeChat users
The duty-free unit of Shinsegae, a major retailer here, said Thursday it will provide a membership service for users of WeChat, China‘s leading messaging app, as it attempts to expand its presence overseas. Shinsegae Duty Free said it will provide various shopping information and discounts for those who sign up for membership via the messaging platform. (Yonhap) The company’s move to attract more customers from the neighboring country comes as local retailers are gearing up for a potential inflo
Nov. 9, 2017
-
[Save the startups] Southeast Asia may be answer for South Korea’s aspiring unicorns
The Korea Herald is publishing a series of articles looking into new roles of South Korean startups en route to the “fourth industrial revolution,” as well as their challenges in securing funds, entering the market and staying in it. This is the third installment. -- Ed.Due to investment challenges and the cutthroat domestic market, South Korean startups tend to underestimate the vast potential of their innovative technology and high-quality human resources, according to Southeast Asian market e
Nov. 9, 2017
-
Korea approves Samsung Bioepis’ Herceptin biosimilar
South Korean drug regulators have approved Samsung Bioepis’ biosimilar drug referencing Roche’s Herceptin, marking the first cancer-fighting biosimilar to be sold by the Songdo-based drugmaker.Samsung Bioepis announced Thursday that the Korean Ministry of Food and Drug Safety has granted its marketing approval for Samfenet, its biosimilar referencing Roche’s breast cancer treatment Herceptin (trastuzumab).Samfenet was approved in Korea for the treatment of metastatic breast cancer, early-stage b
Nov. 9, 2017
-
Coupang leverages e-gift cards’ convenience
E-commerce firm Coupang said Thursday that its e-gift cards are growing in popularity, with convenience as their main selling point.Coupang’s e-gift cards released at the end of last month allow customers to give and receive Coupang cash that can be used without restrictions on the online platform. (Coupang)According to a customer survey conducted by Coupang, 98 percent of customers who bought the gift cards said that they liked the convenience of being able to buy and send the gift cards anyti
Nov. 9, 2017
-
Shopping via voice to advance from speakers to mobile app
Voice-activated shopping technology is poised to shift from speakers with artificial intelligence to mobile applications, with a major retailer preparing a voice-activated shopping service for its mobile app.Lotte’s online store Lotte.com confirmed Thursday that it will be launching a voice-activated search-and-buy service through its mobile app on Nov. 22. In addition to the existing voice search function, the new service will allow customers to complete purchasing transactions solely through v
Nov. 9, 2017
-
FSC to require all listed firms to disclose governance structure
South Korea’s financial regulator will require all listed companies here to disclose their governance structure to the investing public, as part of efforts to improve management transparency, its head said Thursday. Choi Jong-ku, chairman of the Financial Services Commission, also said that his organization plans to provide incentives to institutional investors who adopt a Korean-version of Stewardship Code, a set of principle aimed at improving their voting rights. Choi Jong-ku, chairman of the
Nov. 9, 2017
-
Kepco inks W2.6tr deal to construct coal-fired plant in Vietnam
Korea’s utility provider Korea Power Electric Corp. signed a 2.6 trillion won ($2.3 billion) deal to construct a coal-fired plant in Vietnam, the company said Thursday. A consortium of Kepco and Japanese trading firm Marubeni will be in charge of construction as well as the operation of the 1,200-megawatt power plant in the Nghi Son 2 economic zone in the central province of Thanh Hoa, about 200 kilometers south of Hanoi. Kepco CEO Cho Hwan-eik (first from right) poses for a picture with Deputy
Nov. 9, 2017
-
Asiana Airlines Q3 net plunges 81% due to lower China demand
Asiana Airlines Inc., South Korea's second-largest airline by sales, said Thursday its third-quarter net profit plunged 81 percent, hit by lower demand from China. Its heavy dependence on travel demand from China and other Asian countries resulted in poor performance in the July-September period.Net profit for the three months nosedived to 28.8 billion won ($26 million) from 152.6 billion won a year earlier, the company said in a statement. (Yonhap)Operating profit dropped 22 percent to 118.9 b
Nov. 9, 2017
-
Lotte expecting resumption of Shenyang project on envoy's visit
Lotte Group's giant construction project in Shenyang, China, could resume this month after a year of suspension as China pulls back on its retribution over a US anti-missile defense system being deployed in South Korea, corporate sources said Thursday.Ambassador Noh Young-min, South Korea's new envoy to Beijing, who began his term in early October, is due to travel to Shenyang next week, a visit the sources say is intended to untangle the restrictions holding up the project. Noh is expected to t
Nov. 9, 2017
-
[Monitor] More seniors voluntarily returning driving licenses
The number of drivers aged 65 and over who voluntarily return their driver’s licenses has been on the rise, according to data from the Road Traffic Authority and police. Of the 2,194 drivers who turned in their licenses, 74.7 percent were those aged 65 and over. These are drivers who have started the process of renewing their licenses but have chosen to revoke their licenses out of their free will, in consideration that they are no longer fit to drive safely, the authority said, adding that the
Nov. 8, 2017
-
CJ Cheiljedang's Q3 net jumps 17.6% on strong revenue
CJ Cheiljedang Corp., South Korea's leading food manufacturer, said Wednesday its net profit rose 17.6 percent in the third quarter from a year earlier on the back of brisk sales of its processed food products.Net income came to 263 billion won ($236 million) on a consolidated basis in the July-September period, up from 117 billion won posted a year earlier, the company said in a regulatory filing.Its operating profit soared 10.7 percent on-year to 269 billion won, and sales grew 19.9 percent to
Nov. 8, 2017
-
Korean businesses show investment plans to Trump’s aides
A group representing Korean businesses on Wednesday told close aides to US President Donald Trump about the firms’ investment plans worth some $17.3 billion for the US, highlighting that it will ease the trade imbalance between the two countries.At a meeting hosted by the Korea Chamber of Commerce and Industry, around 10 executives from the top major companies in Korea met with senior staff of the White House including Dina Powell, deputy national security adviser for strategy, and Everett Eisse
Nov. 8, 2017
-
SMEs Minister nominee says Ikea, Daiso should be regulated
The nominee for the Ministry of SMEs and Startups said he believes that Ikea and Daiso should be subject to similar regulations as hypermarkets to prevent detriment to small businesses.The comments were made as part of nominee Hong Jong-haak‘s response to written inquiries made by the National Assembly as part of his confirmation process. Hong Jong-haak, nominated for the post of SMEs Minister (Yonhap)“Even if some brands are categorized as specialized stores, they should be subject to operation
Nov. 8, 2017