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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Steel industry, government join forces to deal with US import restrictions
The Korean government is joining forces with the local steel industry to jointly tackle the United States’ import regulations on Korean steel, the Ministry of Trade, Industry and Energy said Wednesday. The ministry hosted a meeting titled “Mutual Cooperation with the Steel Industry” at the Lotte Hotel in Seoul on Wednesday morning, gathering ranking officials from the country’s steel industry, including Posco Chairman Kwon Oh-joon, to discuss ways to deal with ongoing trade issues with the Trump
Aug. 30, 2017
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[Advertorial] Samsung C&T to begin sales of Raemian Gangnam Forest apartments
Samsung C&T will begin sales of its new luxury apartment complex Raemian Gangnam Forest in Gangnam-gu, Seoul, in September. The complex will be able to house 2,296 households, and Samsung C&T is expected to put up 208 apartments for sale to the public next month, the company said in a statement. A view of the new Raemian Gangnam Forest apartment complex (Samsung C&T) According to the firm, the new apartment complex located near Dalteo Park offers one of the best views in Gangnam. The company is
Aug. 30, 2017
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SPC to expand US Paris Baguette to 300 stores by 2020
Food group SPC plans to expand its Paris Baguette bakery chain to 300 stores in the United States by 2020, according to the company Wednesday.SPC Chairman Hur Young-in said that he would pursue this expansion and create 10,000 jobs by 2020 during a meeting with members of the US House of Representatives on Tuesday at SPC’s headquarters in Seoul. SPC Group Chairman Hur Young-in (right) and Republican Rep. Ed Royce of California meet at the SPC headquarters in Seoul on Tuesday. (SPC)Reps. Ed Royce
Aug. 30, 2017
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Hyundai Steel helps protect school from earthquake
Hyundai Steel completed a seismic retrofit for a school free of charge Tuesday in an increasingly earthquake-prone zone in North Gyeongsang Province, South Korea. Hyundai Steel staff and executives including Executive Director Ham Young-chul (fourth from right) and the Principal of Naenam Elementary School Kim Nak-gon (fifth from left) pose for a photo at a ceremony to celebrate the completion of a seismic retrofitting project Tuesday. (Hyundai Steel)The Incheon-headquartered steelmaker, the sec
Aug. 30, 2017
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[Herald Interview] ‘Smartphone OLED will face oversupply by 2020’
Organic light emitting diodes, undoubtedly the most sought-after display right now, will face oversupply by 2020 and only innovative technologies will survive, said LG Display’s chief technology officer in a display conference in Korea. “The world’s OLED supply for smartphones will outstrip demand by 2020, resulting in a ‘game of chicken’ among display firms. Despite that, innovative OLED technologies will still survive,” said Kang In-byeong, LG Display’s chief technology officer during his keyn
Aug. 30, 2017
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KITA chairman urges US, Korean business leaders to strengthen ties
Amid ongoing talks with the US government to amend the bilateral free trade agreement with South Korea, the head of the nation’s largest group of exporters on Tuesday evening urged business leaders to strengthen cooperation, stressing that it would benefit both in the fast changing trade environment. Speaking at a forum held to welcome members of US congress visiting Seoul, Kim In-ho, Chairman of the Korea International Trade Association said that business leaders should promote bilateral exchan
Aug. 30, 2017
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AmCham expresses concerns over base wage issue in Korea
The American Chamber of Commerce in Korea on Wednesday urged the Korean government to carefully handle the base wage policy, ahead of the court‘s ruling on Kia Motors’ case scheduled for Thursday. AmCham expressed concerns that the Seoul Central District Court ruling against Kia Motors may bring in great impacts on the overall competiveness of the nation‘s economy. The court is to rule on whether to acknowledge the workers‘ demand to recognize their bonuses as part of their ordinary wages. (Yon
Aug. 30, 2017
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Air traffic on Chinese routes halves in July amid THAAD row
Air traffic on South Korea-China routes nearly halved in July from a year ago in the wake of Beijing's retaliation against Seoul's deployment of an advanced US missile shield, government data showed Wednesday.The number of passengers on Chinese routes operated by domestic carriers came to 1.12 million last month, down 45.2 percent from the 2.04 million posted during the same month last year, according to the data from the Ministry of Land, Infrastructure and Transport.In mid-March, China banned
Aug. 30, 2017
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New international cruise terminal to open in east coast port city of Sokcho
A new international cruise terminal will be completed at the eastern port of Sokcho this week to accommodate a growing number of travelers coming to Korea through the coastal city, the oceans ministry said Wednesday.The port will be fully completed on Thursday with the commemorative ceremony scheduled for Sept. 21, timed with the port call of Italian cruise ship Costa neoRomantica, according to the Ministry of Oceans and Fisheries. A cruise ship carrying Japanese passengers is docked at Sokcho P
Aug. 30, 2017
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Hyundai Heavy bags order for offshore facility: sources
Hyundai Heavy Industries Co., a major shipyard in South Korea, has clinched a deal to build an offshore facility for an Indian firm, industry sources said Wednesday.According to the sources, Hyundai Heavy won the deal from Triumph Offshore Private, a unit of India's Swan Energy, to build the floating storage and regasification unit with a capacity of 180,000 cubic meters. (Yonhap)The deal marks the shipbuilder's second deal of the year to build a FSRU. The value of the deal was not disclosed, bu
Aug. 30, 2017
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Growth of retail sales slows in July
The growth of retail sales in South Korea slowed down last month due to weak performance by online malls amid fierce market competition, government data showed Wednesday. The combined revenue of 26 offline and online retailers reached 10.22 trillion won ($9 billion) in July, up 3.6 percent from 9.87 trillion won tallied the previous year, according to the data from the Ministry of Trade, Industry and Energy.The on-year gain in July marks a deceleration from 7.2 percent, 6.3 percent and 7.2 perce
Aug. 30, 2017
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1 in 3 experts blames Hanjin Shipping's fall on govt.: poll
One in 3 South Korean maritime experts blame the government for the bankruptcy of Hanjin Shipping Co., once the nation's leading shipping company, a poll showed Wednesday.Hanjin Shipping, previously the world's seventh-largest shipper, was put under court protection in September last year as its creditors refused to save the failing company before being declared bankrupt in February.According to the survey of 36 corporate executives, scholars, government officials and journalists, 37 percent of
Aug. 30, 2017
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Korean shipyards set to win mega deal: report
Two South Korean shipbuilders -- Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. -- are expected to win a combined $1.5 billion deal, industry sources said Wednesday.According to industry tracker TradeWinds, the Mediterranean Shipping Co. is working on an order for up to 11 container vessels.MSC is close to a deal with Samsung Heavy for up to six 22,000-TEU vessels and is expected to turn to Daewoo Shipbuilding for a further five, the report said. (Yonhap)The deals,
Aug. 30, 2017
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Biz leaders meet with US delegation to discuss way to expand cooperation
South Korean business leaders met members of a US congressional delegation Tuesday to discuss ways to expand ties in trade and investment, a local economic agency said.The Korea International Trade Association arranged the meeting between visiting US congressmen and some 90 executives from local conglomerates and American companies operating in South Korea so as to allow the participants to exchange views on pending economic issues between Seoul and Washington.The US side was led by Ed Royce (R-
Aug. 29, 2017
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LG CNS releases AI-based data analysis platform
LG CNS, a LG Group subsidiary focusing on information technology services, released its own artificial intelligence-based data analysis platform DAP, the company said Tuesday.DAP provides around 30 services including data collection, data visualization, data analysis, digital marketing tools and chatbot services, it said. The cloud-based DAP also allows users to save time setting up a hardware system, which usually takes one to two months. DAP can run data analysis at a significantly faster spee
Aug. 29, 2017
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LG Chem to invest W436b in Polish unit
LG Chem Ltd., South Korea's top chemical firm, said Tuesday that it has decided to invest 436 billion won ($387 million) in its Polish affiliate in a bid to expand its electricity vehicle battery business.In a regulatory filing, LG Chem said it would invest in LG Chem Wroclaw Energy sp. z o.o by June 2020.The Polish company, set up in 2016, is wholly owned by LG Chem. (Yonhap)LG Chem said the investment is aimed at expanding the unit's output capacity.LG Chem entered the EV battery business in 2
Aug. 29, 2017
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[Newsmaker] Lotte shareholders greenlight holding company structure
Shareholders of four Lotte companies approved a plan to set up a holding company Tuesday, in a move that is expected to tighten the grip of Chairman Shin Dong-bin as the group faces increasing internal and external difficulties.Lotte Confectionery, Lotte Shopping, Lotte Chilsung Beverage and Lotte Food held respective shareholder meetings Tuesday morning to vote on merging the four companies’ investment entities into one holding company.All four companies agreed to the plan, with 86.5 percent, 8
Aug. 29, 2017
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Ikea Goyang to open on Oct. 19
Ikea Korea‘s second store in Korea will open in Goyang, Gyeonggi Province on Oct. 19, the company said on Tuesday. Ikea Korea Country Retail Manager Andre Schmidtgall gives a press presentation at Bread Comma Café in Seoul on Tuesday. (Ikea)“We had heard from customers that they wanted us to come closer to them, and that sometimes our (existing) store is too crowded,” Ikea Korea Country Retail Manager Andre Schmidtgall told reporters at the Bread Comma Cafe in Seoul.According to Schmidtgall, the
Aug. 29, 2017
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[Monitor] Sanitary pads second-most produced ‘quasi drug’ product
Sanitary pads are second-most manufactured products in the quasi drug sector, data from the Ministry of Food and Drug Safety showed. The sector includes hygiene products, health products and functional cosmeticsThe ministry has announced full-fledged inspection of the sanitary pads sold in South Korea upon recent allegations that harmful chemicals were found in some of the products.The output of products not grouped as drugs but with health-related functions has continued to surge over the years
Aug. 29, 2017
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[Herald Interview] ‘Korea needs stronger botulinum toxin regulations’
South Korea must adopt more rigorous regulations over the development, possession and management of botulinum toxin used for anti-wrinkle treatments, neurotoxin expert Eric A. Johnson has warned. Johnson, a bacteriology professor at the University of Wisconsin-Madison who co-developed the world’s first botulinum toxin for therapeutic and cosmetic use, said that lax regulation of botulinum toxins could hurt Korea’s global reputation in the industry. “My understanding is that the same sort of rigo
Aug. 29, 2017