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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Sanofi Pasteur launches 4-strain influenza vaccine in Korea
Sanofi Pasteur, the vaccine development subsidiary of French pharmaceutical giant Sanofi, said Tuesday it would officially launch its new quadrivalent influenza vaccine in South Korea next month.Sanofi’s four-strain flu vaccine, Vaxigrip Tetra, is able to protect against four strains of influenza -- two influenza strains (H1N1, H3N2) and two influenza B strains (Yamagata, Victoria).According to Sanofi Pasteur, Vaxigrip Tetra is an expanded version of Vaxigrip, its three-way flu vaccine currently
Aug. 29, 2017
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Korea's industry ministry to put more emphasis on clean energy
South Korea's industry ministry said Tuesday that it will turn its eyes toward promoting clean energies as part of President Moon Jae-in's nuclear-free pledge.The Ministry of Trade, Industry and Energy outlined its policy goals to President Moon at a gathering in Sejong, an administrative city some 130 kilometers south of Seoul."The ministry will expand the country's reliance on renewable energy to 20 percent by 2030," the ministry said in a release. "Also, we will phase out coal-fired power sta
Aug. 29, 2017
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Carmakers' outlook hovers well below par for Sept.
South Korean automakers paint a much dimmer picture of their business outlook for September than firms in other sectors due to global protectionism and concerns over strikes and ordinary wages, a think tank said Tuesday.The Korea Economic Research Institute said its business survey index for the auto-related sector came to 77.6 for September, well below the benchmark 100 and the lowest among 23 industrial sectors.A reading below 100 means that pessimists outnumber optimists. The survey was taken
Aug. 29, 2017
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Korea's seaport cargo up 3.7% in July
Cargo processed at South Korean seaports rose last month from a year earlier on the increase in export and import traffic, government data showed Tuesday.The total amount of seaport cargo came to 132.3 million tons in July, up 3.7 percent from 127.7 million tons tallied a year earlier, according to the data by the Ministry of Oceans and Fisheries.Non-container cargo climbed 2.2 percent on-year to 91.3 million tons last month, while container freight also added 3.1 percent to 2.3 million twenty-f
Aug. 29, 2017
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Korea cuts transport budget 3.8% for 2018
South Korea's government budget for the transportation sector will fall 3.8 percent next year as the government plans to spend less on construction projects and more on welfare policies, the transport ministry said Tuesday. The government has set aside 39.8 trillion won ($36 billion) for 2018, down from 41.31 trillion won this year, the Ministry of Land, Infrastructure and Transport said in a statement. (Yonhap)The decline was to help the Moon Jae-in government achieve its main goals of generati
Aug. 29, 2017
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OB targets young consumers with canned cocktails
Oriental Brewery is targeting young consumers who enjoy drinking at home with canned cocktails called MixxTail Ice, according to the company Monday.MixxTail Ice, which comes in two flavors, is the second product in the MixxTail line launched in May last year in bottled form. MixxTail Ice (OB)With an alcohol content of just 3 percent and convenient packaging, MixxTail Ice is an easy way to enjoy high-quality cocktails, according to the company. The canned cocktails have a lower alcohol content th
Aug. 28, 2017
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Korea issues transaction alert for entities blacklisted by US
South Korea on Monday issued a special warning on transactions with 20 Chinese, North Korean and other foreign entities and individuals that were put on the United States' sanctions list for helping finance the North's development of nuclear weapons.The companies and individuals under the latest transaction alert are those that were blacklisted by the US' past two sanctions lists adopted June 29 and Aug. 22 in connection with North Korea's development of weapons of mass destruction.They include
Aug. 28, 2017
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Hanmi Pharmaceutical shares soar on improved drug R&D outlook
Hanmi Pharmaceutical shares soared 7.29 percent from the previous trading day to a close of 397,500 won on Monday, fueled by an improved development outlook for the firm’s drugs that were out-licensed to global companies.Janssen, Johnson & Johnson’s drug development subsidiary, recently obtained the US Food and Drug Administration’s approval to carry out a new set of phase 1 clinical trials for Hanmi-developed drug candidate JNJ-64565111.Janssen had suddenly suspended the trials of Hanmi’s drug
Aug. 28, 2017
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State commission visits nuclear reactor site
ULSAN -- A state commission to decide the fate of the construction of two nuclear power reactors made a visit to the work site in southern South Korea on Monday.The visit, the first of its kind since the commission was formed nearly one month ago, is aimed at helping experts come up with a recommendation on whether the construction of the Shin-Kori 5 and 6 reactors in Ulsan city should continue or be halted. (Yonhap)Members of the commission are scheduled to hold meetings with residents to hear
Aug. 28, 2017
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Samsung heir appeals, tech giant claims ‘unprecedented crisis’
Samsung Electronics Vice Chairman Lee Jae-yong on Monday appealed the verdict that sentenced him to five years in jail over bribery charges, with the tech giant contending the absence of the heir has brought “an unprecedented crisis.”The Seoul Central District Court said legal representatives of Lee had submitted a petition to appeal, claiming that the ruling on Friday had a juridical error and misunderstanding of facts. Samsung Electronics Vice Chairman Lee Jae-yong (Yonhap)The 49-year-old heir
Aug. 28, 2017
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Korea business lobbies under fire for staying silent
South Korea's two major business lobby groups have come under criticism for not playing their roles in major corporate and labor issues, market sources said Monday. The Federation of Korean Industries and the Korea Employers Federation haven't made their official stance toward the government's recent appointment of a former labor activist as chief of the Economic and Social Development Commission and an imminent court ruling on the matter of calculating regularly paid bonuses as part of standard
Aug. 28, 2017
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Korean shipping sector still reeling from Hanjin fall
South Korea's shipping industry is still reeling from the fallout from Hanjin Shipping Co.'s bankruptcy last year as the remaining companies have yet to fill the vacuum left by Hanjin, once the nation's top player, analysts said Monday.Hanjin Shipping, previously the world's seventh-largest shipper, was put under court receivership in September last year as its creditors rejected a self-rescue plan and refused to save the failing business before it was declared bankrupt in early February.Hanjin
Aug. 28, 2017
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CJ Cheiljedang buys Brazilian firm, launches vegetable protein manufacturer
CJ Cheiljedang Corp., South Korea's leading maker of processed foods, said Monday it has completed the acquisition of a Brazilian company to expand its foothold in the vegetable protein business.Earlier in June, the Korean firm announced its plan to buy Selecta, a Brazilian company that manufactures soy protein concentrate, for 360 billion won ($320 million). It is a world-leading manufacturer of sustainable vegetable protein with sales reaching some 400 billion won last year. Its 2016 operating
Aug. 28, 2017
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Samsung Electronics delivers statement on Lee's imprisonment
Samsung Electronics Vice Chairman Kwon Oh-hyun delivered an official statement to staff on Monday on the latest verdict on the firm's heir-apparent Lee Jae-yong, urging workers to continue giving best efforts at their respective positions."Although this situation of uncertainties is regrettable, we should all steadily wait until the truth is revealed," Kwon said in a statement sent to employees. On Friday, the Seoul Central District Court found Lee guilty of bribery, embezzlement and other charg
Aug. 28, 2017
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Outbound travelers to surge during Chuseok on extended holidays
The number of South Koreans traveling abroad is expected to jump during the upcoming Chuseok season which falls in early October as the holiday could be as long as 10 days, industry data showed Monday.Chuseok, one of the biggest annual holidays here and roughly equivalent to Thanksgiving in the United States, falls on Oct. 4 this year. If the government makes Oct. 2 a temporary holiday, South Koreans could take 10 days off straight, including both weekends, from Sept. 30 to Oct. 9. Oct. 3 is Nat
Aug. 28, 2017
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Hyundai E&C continues CSR efforts around the globe
Hyundai Engineering & Construction has been continuing its corporate social activities in Southeast Asian countries, such as by building education facilities and providing supplies for underprivileged children, the company said Sunday. Students take a picture in front of a school that Hyundai E&C built at a local town in Thanlyin Township, Myanmar, July 23.Last month, Hyundai E&C completed the construction of an elementary school at a small town in Thanlyin Township, Myanmar’s southern port cit
Aug. 27, 2017
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[Ask a Laywer] Dismissal of executives
Ask a Lawyer is a regular column written by attorneys at Yoon & Yang LLC on various legal aspects of the Korean life or business. The content provided here is general legal information, not legal advice on a specific situation. -- Ed. (Yonhap)Q. Do officers, or executives, of a company fall under the definition of “workers” under the Labor Standards Act? What are the exact procedures for dismissal of officers and the instructions for companies to bear in mind when they dismiss an officer? A. A.
Aug. 27, 2017
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Lotte Department Store brands integrated to 'Eliden'
The five private brands operated by Lotte Department Store will be rebranded under the umbrella brand Eliden, according to the retailer Sunday. An image of the new Eliden Home store to open in Lotte Department Store Jamsil Thursday. (Lotte Department Store)Since 2005, Lotte has been operating five private brands targeting various consumer sectors including young womenswear, contemporary womenswear, accessories, menswear and home design.Eliden, the first private brand launched by Lotte, will keep
Aug. 27, 2017
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Women seek toxin-free sanitary pad alternatives
Women are seeking out toxin-free alternatives to disposable sanitary pads and tampons, as the government continues to struggle in providing clear answers about potential health risks associated with compounds found in existing products.The Ministry of Food and Drug Safety said Sunday that it had started conducting a study as of Friday on “all sanitary pads produced or imported in the past three years,” focusing on determining levels of volatile organic compounds.“Volatile organic compounds” is a
Aug. 27, 2017
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GS Chairman urges 'agility' in changing business climate
The chief of GS Group on Friday urged the group‘s top executives to pursue "agility" in managing their teams in a rapidly changing business climate during a two-day meeting, officials said Sunday. GS Group Chairman Huh Chang-soo (GS)“GS must be able to pull forth its employees’ creativity and talent using stable and efficient processes,” GS Group Chairman Huh Chang-soo said at the 13th annual GS CEO Strategy Meeting held at the Elysian Gangchon in Gangwon Province on Friday.“Our organization mus
Aug. 27, 2017