Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Man escapes DUI charges by downing bottle of soju while pulled over
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Pay debate plagues foreign nanny pilot
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K-pop star lip-syncing controversy flares up again
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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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Seoul start-up fair seeks to encourage expat entrepreneurs
Seoul Global Center will host the 2017 International Start-ups Business Fair at Seoul Business Agency in Mapo, Seoul, Thursday.At the fair, 12 start-up companies ran by expat entrepreneurs who come from 11 different countries, will present their business in front of investors, city officials and fellow entrepreneurs.The fair’s organizer Seoul Global Center offers incubation support for expats who seek to start a business in Korea. International Start-ups Business Fair 2016 (Seoul Global Center)“
Sept. 20, 2017
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[News Focus] Will HNB tobacco tax hike pass in September?
The hotly debated hike plan for consumption taxes on heat-not-burn tobacco products is likely to be discussed in the finance committee of the National Assembly on Thursday, as industry watchers speculate on whether the bill will be able to pass within the month.If the finance committee sends an amendment to the floor, it could be passed by the full legislature on Sept. 28. IQOS from Philip Morris International (PMI)“It has not been put on the official agenda yet, but people in the industry are s
Sept. 20, 2017
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Lotte chairman calls for shared future at Asia Society gala
Lotte Group Chairman Shin Dong-bin urged members of Asia Society Korea to contribute to a peaceful and shared future at an event held by the organization to mark its 10th anniversary on Tuesday.“Now is the perfect opportunity to foster educated global conversations around the world. We have built the bridge and we want to motivate people to cross that bridge together,” said Shin, who serves as the chairman of Asia Society Korea. Lotte Group’s leader and Chairman of Asia Society Korea Shin Dong-b
Sept. 20, 2017
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[Herald Interview] Suprema seeks opportunity in mobile fingerprint scanner
These days, the key is to go mobile, meaning integrating technologies and solutions onto mobile devices often become the make or break factor in the fast-changing industries. The same goes for a Korean biometric tech firm, Suprema, which is the nation’s largest biometric access solution provider by sales specializing in fingerprint and facial recognition readers for home and businesses. Moving to capitalize on the growth potential of mobile biometrics by expanding its business in fingerprint sca
Sept. 20, 2017
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S-Oil CEO delivers Chuseok holiday gifts to neighbors
S-Oil CEO Othman Al-Ghamdi on Wednesday held the company‘s annual charity event to support the underprivileged on the occasion of Chuseok, the company said Wednesday.The CEO and some 100 S-Oil employees made Songpyeon, Korea’s traditional half moon-shaped rice cake served during Chuseok holiday season, and offered them along with groceries and daily necessities to 800 low-income households in the Mapo area, the company said. The country celebrates Chuseok on Oct. 4 this year. S-Oil CEO Othman A
Sept. 20, 2017
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Corporate watchdog lunches probe into Hite Jinro for investigation obstruction
South Korea's corporate watchdog has launched an investigation into Hite Jinro Co., one of the country's largest distillers, for obstructing an investigation, industry sources said Wednesday.Officials from the Fair Trade Commission had previously conducted an on-site inspection into Hite Jinro's alleged violations of local fair trade law in April this year, according to the sources.At the time, some company employees disrupted the FTC's enforcement, they noted. (Yonhap)The FTC has been looking i
Sept. 20, 2017
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Firms reorganize wage systems to head off possible court battle after Kia case: sources
South Korean companies are struggling to restructure their wage systems to stave off a possible court battle over "ordinary wage" which serves as the basis for overtime, severance and other payments, industry sources said Wednesday.The move comes as the Seoul Central District Court ruled last month that fixed bonuses and meal costs are part of ordinary salaries and that Kia Motors Corp. should pay an overdue amount of 422.4 billion won ($373.2 million), or 38.7 percent, of what the union has req
Sept. 20, 2017
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Korea to kick off nationwide shopping festival next week
A nationwide shopping festival involving hundreds of retailers and traditional markets will begin next week, the government said Wednesday, as it aims to draw foreign travelers amid a sharp decline in the number of Chinese tourists.The annual Korea Sale FESTA, jointly organized by the Ministry of Culture, Sports and Tourism and the Ministry of Trade, Industry and Energy, will kick off from Sept. 28 and run through Oct. 31. During the special bargain sales event, major retailers and manufacturers
Sept. 20, 2017
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Ex-KAI head detained over alleged fraud, negligence
A former chief of Korea Aerospace Industries Co. has been detained for questioning in a major corruption scandal, prosecutors said Wednesday.The Seoul Central District Prosecutors' Office put Ha Seong-yong, former CEO of the nation's sole aircraft manufacturer, into custody on charges of accounting fraud and negligence. The prosecution has 48 hours before it decides whether to seek an arrest warrant from a court.Prosecutors have been investigating KAI and its officials on allegations that they
Sept. 20, 2017
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Diageo Korea to roll out special whisky packages for Chuseok
Diageo Korea said Tuesday it would offer specially packaged versions of its whisky brands in celebration of the upcoming Chuseok holiday.The company’s 20 kinds of whisky including Johnnie Walker, Windsor and Bell will be gift packaged and some will come with promotional cups. The recently relaunched Johnnie Walker Aged 18 Years will also be introduced to Korea for the first time. The 18-year-old whisky is priced at 129,000 won ($114) per 750-mililiter bottle. (Diageo Korea)There will also be a h
Sept. 19, 2017
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[Save the startups] What it takes to keep a startup up and running
While the former Park Geun-hye administration’s slogan of “creative economy” may have seemed somewhat abstract to many, the incumbent Moon Jae-in government narrowed the concept down to a distinct keyword -- startups.Such a message was clear in the promotion of the former Small and Medium Business Administration into the Ministry of SMEs and Startups, as well as the incoming launch of a presidential committee to promote the “fourth industrial revolution.”Despite such an ample gesture of encourag
Sept. 19, 2017
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[Monitor] Tattered reputation of Korean companies
Samsung Electronics’ reputation in terms of social responsibility in 15 overseas markets took a nosedive from 20th place last year to 89th, largely due to recalls of the Galaxy Note 7 smartphones and Vice Chairman’s Lee Jae-yong’s involvement in the former president’s bribery scandal, said US magazine Forbes citing an annual survey by Boston-based consulting firm Reputation Institute. While European and US businesses occupied the top 10 list, crowning Lego Group from Denmark, and Japanese firms
Sept. 19, 2017
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Korea eyes Saudi Arabia's nuclear plant deal
South Korea is eyeing Saudi Arabia's first nuclear power plant project, hoping to export its nuclear technology following a 2009 deal with the United Arab Emirates, the government said Tuesday. Saudi Arabia, the world's largest crude exporter, is set to announce a plan to build two nuclear reactors to reduce its reliance on oil, drawing keen attention from major nuclear power producers including South Korea, China, France and Russia. The Gulf nation held a presentation Monday on its nuclear ener
Sept. 19, 2017
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Hanjin Group chief grilled by police
Hanjin Group’s chief executive was questioned by police Tuesday regarding allegations that he used company funds to renovate his private home.Cho Yang-ho, who heads the group that runs Korean Air, appeared at the National Police Agency for questioning. He told reporters before the session that he would “fully cooperate with the investigation.” Cho Yang-ho, Hanjin Group’s chief executive, appears for questioning at the National Police Agency in Seoul on Tuesday. (Yonhap)Cho is suspected of using
Sept. 19, 2017
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[Newsmaker] Corruption scandal shakes up KAI’s vision
Until last year, Korea Aerospace Industries, the nation’s sole aircraft manufacturer, was riding high on the expectation of its increased entries into foreign markets with homegrown choppers and jets. Speaking proudly of KAI’s fast technological advancement, then-CEO Ha Sung-yong told investors on Jan. 28, 2016 that the company aimed to become one of the top 15 aircraft manufacturers in the world by 2020. Its joint venture with US defense giant Lockheed Martin on the US Air Force’s trainer progr
Sept. 19, 2017
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Laneige enters US Sephora
Cosmetics brand Laneige, run by Amorepacific, will be sold at the multi-shop brand Sephora in North America starting Saturday, according to Amorepacific on Tuesday.Laneige products will be available through 144 Sephora stores across the US along with 74 stores in Canada, according to the company. An outdoor ad promotes Laneige‘s launch in the US (Amorepacific)Sephora stores in Canada have been carrying Laneige since September 2015.The brand previously launched in the US through the retailer Targ
Sept. 19, 2017
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No. of non-Chinese tourists grows in Korea amid THAAD fallout
The number of foreigners other than Chinese visiting South Korea grew in the first seven months of this year following the government's efforts to diversify its tourist portfolio in the face of a sharp drop in the number of Chinese visitors, the country's tourism promotion agency said Tuesday.According to the Korea Tourism Organization, the number of visitors from Vietnam, Kazakhstan and Iran grew 29.2 percent, 26.8 percent and 25.6 percent on-year, respectively, in the January-July period. "Th
Sept. 19, 2017
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Merck showcases automotive solutions at Frankfurt motor show
The US science and technology firm Merck said Monday it is participating for the first time in the International Motor Show that began last week, presenting its solutions for the automotive industry that enhance functionality and aesthetics in automotive engineering.The International Motor Show began Thursday in Frankfurt, Germany, and will run for 10 days. Merck said its presentations for the automotive industry include materials for lighting systems, sunroofs, free-form displays and smart ante
Sept. 19, 2017
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SK Chemicals, GSK awaiting commercial sales of shingles vaccine
SK Chemicals Co., a South Korean pharmaceutical and chemical goods manufacturer, and multinational drug firm GlaxoSmithKline Plc. are awaiting final approval of their respective herpes zoster vaccines, market watchers said Tuesday.Approval is forecast to shake up the market in a big way, setting up a showdown with the US pharmaceutical giant Merck & Co's Zostavax, they said.Zostavax is the only vaccine currently approved for use to treat shingles, which typically shows up as a painful rash that
Sept. 19, 2017
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Korea sends business delegation to Oman, Saudi Arabia
South Korea sent a delegation to Oman and Saudi Arabia to boost local companies' chances in the emerging infrastructure markets in the Middle East and strengthen economic ties, the land ministry said Tuesday.Son Byeong-seok, Vice Minister of Land, Infrastructure and Transport, accompanied a business delegation made up of officials from both the public and private sectors to meet key infrastructure ministers in the resource-rich countries from Tuesday to Friday. In Oman, Son will meet with the mi
Sept. 19, 2017