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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Demand for ICs for handsets set to beat PCs
The combined demand for integrated circuits used in handsets is expected to surpass that of personal computers this year, industry watchers said Wednesday.The IC sales for hand-held mobile devices are projected to reach US$84.4 billion in 2017, up 16 percent on-year, the report released by industry tracker IC Insights showed. In contrast, that of PCs is anticipated to move up 9 percent to reach $80.1 billion, it added. (Yonhap)"The ongoing slump in shipments of standard personal computers, along
June 21, 2017
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Korean companies eye opportunities as US biotech conference begins
SAN DIEGO — The 2017 Bio International Convention officially kicked off in San Diego, California, on Monday, bringing together thousands of biotech professionals from around the world to exchange knowledge and engage in dialogue over new industry trends and issues.In its 24th year, the four-day conference hosted annually by the Biotechnology Innovation Organization is considered one of the world’s biggest biotech and pharmaceutical industry events. This year’s edition, themed “Breakthrough,” is
June 20, 2017
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Korea to abolish FTC's exclusive rights to prosecute fair trade violations
South Korea's presidential policy advisory panel said Tuesday that within the next five years it will abolish the country's antitrust watchdog's exclusive rights to file a complaint with the state prosecution for any fair trade violations."We will remove the Fair Trade Commission of its exclusive authority to file complaints during the Moon Jae-in government's five-year term," said Park Kwang-on, the spokesman for the State Affairs Planning Advisory Committee. "We will set up a task force team t
June 20, 2017
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MCM offers made-to-order designs at Tokyo pop-up
Global fashion brand MCM said Tuesday that it offered made-to-order designs of its most popular products for the first time at its pop-up store in Tokyo. (MCM)The store, located in the luxury Isetan Shinjuku department store in Tokyo, Japan, allowed customers to pick up customized items they had designed through the brand‘s mobile app. Customizations included being able to change the color of the leather, handle or studs on MCM’s most popular products, as well as monogramming.Starting in July, t
June 20, 2017
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[Herald Interview] Hotels.com looks toward mobile future
The travel industry is heading toward a mobile future, as more travelers are choosing to plan their trips on their smartphones, according to an executive at hotel booking site Hotels.com.“We’ve done some studies with millennials and what they’ve told us is that they like the apps for the sake of convenience in particular, but also some of the features, like the filters and being able to book on the app straightaway with a stored credit card,” said Abhiram Chowdhry, who heads the Asia-Pacific and
June 20, 2017
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Korea's 3 leading shipyards stay at top of global order backlog ranking
South Korea's three major shipyards-- Daewoo Shipbuilding & Marine Engineering Co., Samsung Heavy Industries Co. and Hyundai Heavy Industries Co. -- maintained their top global ranking in terms of order backlog, industry data showed Tuesday.According to the data compiled by industry tracker Clarkson Research, Daewoo Shipbuilding's Geoje shipyard stood at 88 ships representing 6.26 million compensated gross tons, as of end-May, followed by Hyundai Heavy's Ulsan shipyard with 65 vessels, or 3.33 m
June 20, 2017
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Samsung set to showcase Galaxy Note 8 in New York in Aug.
Samsung Electronics Co. is expected to showcase its Galaxy Note 8 phablet in New York in August, industry sources said Tuesday, which is set to compete with the next flagship by Apple Inc.According to the sources, the South Korean tech giant is currently considering unveiling its large mobile device in the third or fourth week of August.(Yonhap)While the company earlier planned to introduce the new phablet at the Internationale Funkausstellung Berlin held in September, industry watchers said the
June 20, 2017
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BAT Korea to unveil non-burning tobacco in Aug.
Dunhill maker British American Tobacco plans to sell its own tobacco heating device in August in the country, its local unit said Tuesday, joining the intense race for the burgeoning heated tobacco market.BAT Korea opened a teaser website for its tobacco heating device, the Glo, on Monday, which will be available later this year. Earlier this month, the company completed the expansion of its production facility in Sacheon, 437 kilometers southeast of Seoul, to produce non-burning tobacco sticks
June 20, 2017
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Duty-free shops' sales to foreign customers rise in May
South Korean duty-free shops saw sales to foreign customers increase for the first time in three months in May, industry data showed Tuesday, a sign that Beijing's trip restrictions may be wearing off. The sales to foreigners at local duty-free shops reached $655.9 million last month, up a solid 11.1 percent from the previous month, where they stood at $590 million, according to the data from the Korea Duty Free Shops Association. The on-month increase marks the first rebound following a big dro
June 20, 2017
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Construction investment forecast to slow from H2
South Korea's construction investment, one of the economy's main drivers, will likely start to lose ground in the second half due to tougher regulations and a housing glut, analysts said Tuesday.Some even painted a gloomier picture of the country's construction investment for 2018, warning it could plunge into negative growth in the aftermath of the tightened rules. Growth of the nation's construction investment has been in positive territory since 2012.According to the Korea Center for Internat
June 20, 2017
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Korean chipmakers take watchful eyes on rise of TSMC
South Korean chipmakers are paying closer attention to Taiwan Semiconductor Manufacturing Co., a leading foundry chipmaker that has won a series of major deals to solidity its presence, industry watchers said Tuesday.Earlier this month, TSMC was tapped to produce 7-nanometer chips for MediaTek, the world's No. 2 player in the smartphone AP sector. US Qualcomm also earlier decided to have TSMC produce its 7-nano Snapdragon AP, sources said. (Yonhap)The foundry business refers to making chip desig
June 20, 2017
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SK chief stresses greater role for corporate responsibility
The head of SK Group, South Korea's third-largest conglomerate, stressed on Monday a need for his firm to play a bigger role in "sharing the profit" with smaller companies, in an apparent move to be in step with the new government's policy drive. "SK should feel deeply responsible for, and be more actively engaged in resolving social issues as a large conglomerate," SK Group Chairman Chey Tae-won said at a management meeting in Icheon, south of Seoul. The file photo, provided by SK Group, shows
June 20, 2017
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Busan to strengthen cooperation with U.S. lab in reactor decommissioning
The city of Busan on South Korea's southeastern coast said Monday it will strengthen cooperation with the Argonne National Laboratory, a research institute funded by the U.S. Department of Energy, on decommissioning nuclear reactors following the shutdown of a commercial nuclear reactor in the city.Busan Mayor Suh Byung-soo has visited the U.S. laboratory outside Chicago as part of efforts to form a memorandum of understanding between Busan and Argonne to seek cooperation in nuclear reactor deco
June 19, 2017
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Photo likely to be KT&G’s heated tobacco device leaked
Photos thought to be of the upcoming heated-tobacco device from cigarette maker KT&G have been leaked, a local news outlet reported Monday.Consisting of a pocket charger and a tobacco stick holder, the device is similar to the IQOS device released by Marlboro maker Philip Morris this month in Korea, according to Electronics Times.A leaked photo of a heated tobacco device, thought to be developed by KT&GWith both Philip Morris and British American Tobacco holding extensive patents on the methods
June 19, 2017
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Venture firms benefiting from investments create large number of jobs: govt. data
South Korean venture firms that received investments created more than 30,000 new jobs in the last five years, government data showed Monday.According to the data from the Small and Medium Business Administration, 2,838 companies that received 5.9 trillion won ($5.2 billion) in investments from 2012 to 2016 created 30,603 new positions as of 2016.This photo, taken on June 5, 2017, shows officials of the Small and Medium Business Administration at its headquarters in Daejeon, central South Korea.
June 19, 2017
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[Herald Interview] ‘OLED inkjet printing may shift display paradigm’
Whoever takes the leadership in organic light-emitting diode inkjet printing may shift the paradigm of the display industry, according to vice chairman of the Korean display association. “If Chinese or Japanese firms are able to take the lead in OLED inkjet printing, things may change in the OLED display market currently dominated by Korean firms,” Seo Kwang-hyun, vice chairman of Korea Display Industry Association, told The Korea Herald in a recent interview. Inkjet printing is a manufacturing
June 19, 2017
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SK Biotek acquires BMS facility in Ireland
SK Biotek, a subsidiary of SK Holdings, said Monday that it will be acquiring a manufacturing facility in Ireland from global biopharmaceutical company Bristol-Myers Squibb, paving the way for the company’s entry into the European market.The facility, which manufactures small molecule active pharmaceutical ingredients, is located in Swords, Ireland. It has an 81,000-liter capacity and currently manufactures ingredients for medications including the prescription blood thinner Eliquis produced by
June 19, 2017
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Samsung likely to give up on-screen fingerprint sensor for Note 8
Samsung Electronics’ upcoming Galaxy Note 8 is not likely to have an on-screen fingerprint sensor, due to technical challenges, according to multiple sources Monday. An on-screen fingerprint sensor is a biometric method that enables a smartphone user to conveniently unlock a phone by placing his or her finger on a part of the phone’s display where the sensor is embedded. As for the Galaxy S8, Samsung has put a fingerprint sensor on the back of the phone, drawing complaints from consumers who mis
June 19, 2017
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FTC chief to meet 4 biggest chaebol this week
The new head of South Korea’s antitrust watchdog said Monday he would meet top officials of the nation’s four largest business groups this week to communicate with them over the Moon Jae-in government’s drive for chaebol reform. Kim Sang-jo was appointed as FTC chairman by President Moon Jae-in last week, despite strong objection from conservative opposition parties. When named as the nominee for FTC chief a month ago, he had vowed to enhance monitoring of the four largest conglomerates here --
June 19, 2017
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SK Innovation confident of setting new record this year
SK Innovation, South Korea’s top energy and petrochemical company, said Monday it is expected to reach another record operating profit this year with its oil refining business thriving and market prospects building on its new businesses.The company posted record-high operating profit of 1 trillion won ($883 million) this year, a 19 percent increase from a year before. Market expectations are high, with some analysts predicting the oil refiner would see around 3.4 trillion won of operating profit
June 19, 2017