Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Pay debate plagues foreign nanny pilot
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35% of S. Koreans view unification 'unnecessary'
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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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[Reporter’s Notebook] Was Netflix film opening BIFF really a bad thing?
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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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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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[KH Explains] Is private equity giant MBK a risk-taker or renegade?
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Asiana passengers given waiver on security interviews at airport for US trips till April
Asiana Airlines Inc., South Korea's second-biggest airline, said Tuesday that Washington accepted its request to delay the implementation of a strengthened security check of its passengers bound for the United States.On June 28, the US Transportation Security Administration asked 180 airlines in 105 countries to carry out a thorough pre-flight security check of passengers through interviews and screening.It called on companies to apply for a delay in the implementation and give the reasons for t
Oct. 24, 2017
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[Management in Korea] Time for Korean bigwigs to make their cultures global
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.Given that Korea’s population is only about 50 million, the country’s largest companies have long understood that their ambitions could only be reached by developing into truly global organizations. And many Korean enterprises have done exactly this. Not just the most well-known chaebol like Samsung, Hyunda
Oct. 24, 2017
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Diageo gets younger with low-alcohol W Signature 12
Spirits maker Diageo said Tuesday that it is hoping to expand its presence in the low-alcohol whisky market with the introduction of its new product, W Signature 12.“(W Signature 12) will allow us to solidify our position in the low-alcohol spirits market following on the heels of our 17-year product,” said Cho Kil-soo, the CEO of Diageo Korea, at a press conference held at the British Embassy in Seoul.“I believe that W Signature 12 will become a product that will represent a safe, smart choice
Oct. 24, 2017
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KITA chairman resigns over discord with Moon Jae-in government
The Korea International Trade Association announced that its chairman, Kim In-ho, formally tendered his resignation during a board meeting held at the Trade Tower in Seoul on Tuesday, despite his term not officially expiring until February next year. ”I am resigning because of the new government,“ said Kim, during a press conference held at the Trade Tower on Tuesday. Kim told reporters that he recently received a message from the government asking him to resign from his post. He, however, refus
Oct. 24, 2017
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Daewoo E&C creates book tunnel for Delight Square
Newly designed walls have been created in an underground tunnel that connects a subway station and a shopping mall in Seoul, according to Daewoo Engineering & Construction on Tuesday.The underpass, which connects Hapjeong Station on Subway Lines No. 2 and No. 6 and the shopping center Delight Square, features shelves filled with replicas of books. Daewoo E&C, which built Delight Square, has dubbed it a “book tunnel.” An interior view of an underground tunnel between Delight Square and Hapjeong
Oct. 24, 2017
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Samsung, Apple face new legal battle over patent damages
Samsung Electronics and Apple’s six-year legal battle over design patent infringement is headed back to the original court. Judge Lucy Koh of the US District Court for the Northern District of California ordered Sunday night that a new trial will begin to look into whether Apple’s $399 million award for Samsung’s design patent infringement should stand. The trial is opening 10 months after the US Supreme Court in December sent back the case, saying Samsung may not be liable for all of the $399 m
Oct. 24, 2017
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Foreign makers keep eye on changes in smartphone distribution
Foreign smartphone makers are keeping a close eye on local lawmakers’ moves to reform smartphone distribution channels in Korea in hopes of further penetrating the market dominated by Samsung and LG. Currently, the Korean smartphone market is dominated by two local firms -- Samsung Electronics with a 63.8 percent share and LG Electronics with 11.8 percent. Apple holds an 11.9 percent share, while other brands have little presence, according to Rep. Byun Jae-il of the ruling Democratic Party of K
Oct. 24, 2017
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Hyundai Glovis raises W50b to support partners, workers
Hyundai Glovis, the logistics unit under Hyundai Motor Group, created a fund worth 50 billion won ($44 million) to support its partner companies and workers, the company said Tuesday.Hyundai Glovis plans to spend 23 billion won to secure safety measure and the welfare of the workers in the logistics industry, while spending 20 billion won to financially support its small- and mid-sized partner companies. Participants attend an event on Sept. 21 to celebrate Hyundai Glovis’ project to invest 50 b
Oct. 24, 2017
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BMW Korea to enhance hands-on experiences
German luxury car brand BMW’s sales unit in Korea is moving to upgrade dealership spaces to offer customers hands-on experience with the brand’s products.BMW Korea currently operates two BMW MINI City Lounges in the country. The German carmaker’s showrooms allow customers to check out both BMW and MINI vehicles, as well as the brands’ products, the company said. A customer experiences a BMW vehicle using virtual technology at BMW MINI City Lounge at Starfield Hanam (BMW Korea)“Customers will be
Oct. 24, 2017
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LG Household logs decent profit in Q3 despite THAAD woes
LG Household & Health Care Ltd., South Korea's No. 2 cosmetics and household goods maker, said Tuesday it racked up a solid profit in the third quarter of this year on the back of its high-end cosmetic brands, despite concerns over a setback from a diplomatic row between Seoul and Beijing over a US anti-missile system here.Its operating profit came to 253 billion won ($224 million) in the July-September period, up 3.5 percent from 244 billion won tallied the previous year, the company said in a
Oct. 24, 2017
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Intl. passengers using Gimhae airport rise due to more Australians, Russians: data
The number of international passengers using Gimhae International Airport in the southeastern port city of Busan has risen sharply this year despite a drop in Chinese tourists, industry data showed Tuesday. As many as 5.24 million passengers used international flights through Gimhae in the first seven months of this year, according to statistics provided by the Korea Airports Corp.The number represents a 12.9 percent hike from a year earlier. Gimhae International Airport passenger terminal (Yonh
Oct. 24, 2017
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Samsung Electronics to announce 3-year buyback plan
Samsung Electronics is set to announce next week a three-year plan to buy back shares, which is anticipated to be the largest backed by the tech giant’s thriving chip business.The tech giant will also announce its third-quarter profit and plans for cash dividends for 2018-2020. (Photo by Park Hyun-koo/The Korea Herald)Last year, the company said it would spend 50 percent of its net profits to increase its share value and return the benefits to its investors. Of the 22.4 trillion won of net profi
Oct. 23, 2017
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Consumers wary as tax hike looms on HNB tobacco
Following the passage of a tax hike bill on heat-not-burn tobacco products at a parliamentary committee, South Korean consumers are bracing for a price hike to begin as early as next month.On Friday, the strategy and finance committee of the National Assembly passed a proposal to raise individual consumption taxes on HNB products to 90 percent of the same tax levied on conventional cigarettes. If the bill passes the floor next month, each 20-stick pack of HNB sticks will be taxed to the tune of
Oct. 23, 2017
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Pureunbam enters Mongolian market
Shinsegae‘s private soju brand Pureunbam has entered the Mongolian market, according to the company Monday.On Sunday, the first shipment of Pureunbam soju was sent from Incheon to Ulaanbaatar, Mongolia. The products are expected to hit shelves at E-mart’s two branches in Ulaanbaatar in mid-November. Poster for Pureunbam soju (Shinsegae)The first shipment includes 19,200 bottles of the low-alcohol “Short Night” and 4,800 bottles of the stronger “Long Night.”According to Shinsegae, the decision to
Oct. 23, 2017
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Jeju Air, T’way Air expand into in-house ground handling
Budget carriers Jeju Air and T’way Air have made moves toward creating affiliate companies tasked with the airlines’ ground handling operations, according to the two airlines Monday.Jeju Air announced that it had signed a deal to buy Dongbo Airport, a company specializing in airline operations and ground handling services. Dongbo had been providing ground handling operations for T’way Air.Dongbo will begin servicing Jeju Air as early as this year.“As Jeju Air’s fleet and flights continue to expa
Oct. 23, 2017
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AmCham elects new leaders
The American Chamber of Commerce in Korea has appointed a new vice chair and seven new board of governors, it said Monday. Myung Chan Lee, country chief executive of Lockheed Martin Global, Inc. Korea, has been elected as vice chair. AmCham’s new board of governors include Steven Barnett, president and CEO of AIG Korea Inc., Brad Buckwalter, president and general manager of Johnson Controls Korea, and Colm Flanagan, head of the Seoul Foreign School. (American Chamber of Commerce in Korea) Jae
Oct. 23, 2017
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Samsung set to continue sharing record profits with shareholders
Samsung Electronics Co. is expected to implement a massive share buy-back drive after announcing its third-quarter profit report next week, which is presumed to set another record amid strong returns from the chip business, industry watchers said Monday.The company is also expected to announce detailed plans on buy-backs and dividends for 2018-2020 as well, they added. The outlook came as the South Korean tech giant said last year it plans to allocate around 50 percent of its free-cash flow gene
Oct. 23, 2017
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[Ask a Lawyer] Korea’s unique regulations of gab-eul relationship
Q. What is the regulation of the gab-eul relationship?The regulation of the gab-eul relationship refers to the regulation of unfair trade practices performed by a more powerful party against the other party in a transaction between enterprises. For example, if a manufacturer commissions the manufacture and supply of parts to a part supplier and pays the price six months after receiving the supply of parts (case one), a seller unilaterally increases the sales price set forth in the contract with
Oct. 22, 2017
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[Herald Interview] LOT Polish Airlines aims to bridge Korea, central Europe
Poland‘s flagship carrier celebrated the one-year anniversary of its Incheon-Warsaw direct route Thursday, with hopes to further increase the frequency of the flight and promote Central European destinations in the Korean market.“It is a very important route, not only from the tourist perspective but also because it provides business connectivity,” said LOT’s chief executive Rafal Milczarski during an interview with The Korea Herald. The Incheon-Warsaw flights serviced by LOT began on Oct. 18 la
Oct. 22, 2017
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Cosmetics experts to discuss convergence, creativity at IFSCC forum
Cosmetics researchers from all over the world will gather in Seoul to discuss convergence and creativity in cosmetic science starting Monday.The 24th Conference of the International Federation of Societies of Cosmetic Chemists is set to take place from Monday to Wednesday at the Grand InterContinental Seoul Parnas under the theme of “Cosmetic Science: Beauty, Convergence and Creativity.”This is the second time that the conference, which began in 1960, will take place in Seoul.Researchers study c
Oct. 22, 2017