Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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K-pop star lip-syncing controversy flares up again
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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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Cheongju airport resumes flights to China suspended after THAAD row
CHEONGJU -- Cheongju International Airport, which serves air traffic in central South Korea, has resumed flights to China that were suspended after the US missile defense deployment row, the regional government said Sunday.According to North Chungcheong Province, China Southern Airlines resumed the Cheongju-Yanji route on May 3 and is operating three weekly flights.(Yonhap)The airline had halted flights out of Cheongju on March 26, days after Beijing requested its travel agencies halt the sales
June 4, 2017
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Shipbuilders set to commence recovery in 2017
South Korea's shipbuilders are expected to recover this year after suffering from a global industrywide slump in 2016, observers here said Sunday.Industry watchers said Samsung Heavy Industries Co. clinched deals worth $4.8 billion coming into this year, which accounts for 74 percent of its annual target of $6.5 billion. The latest performance marks a sharp turnaround from last year, when Samsung failed to win a single contract in the first five months. (Yonhap)Samsung won a deal worth 2.9 trill
June 4, 2017
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Quarter of Korea's top 30 conglomerates face financial troubles
One out of four affiliates under South Korea's top 30 conglomerates is suffering from poor financial health, data showed Sunday, casting concern over the country's industries.According to the data compiled by Chaebul.com, a local industry tracker, 324 of 1,255 affiliates under the country's top 30 business groups suffered from impaired capital or held a debt ratio hovering beyond 200 percent as of end-2016. (Yonhap)Of 14 affiliates under the Daewoo Shipbuilding & Marine Engineering group, one of
June 4, 2017
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Korea's exporters employ 6.1m in 2014: data
South Korean exporters employed more than 6 million in 2014 as overseas shipments played a major role in fueling growth in Asia's fourth-largest economy, government data showed Sunday.The number of jobs created by the export-related businesses totaled 6.1 million people in the cited year, up from 5.3 million tallied in 2010 and 3.7 million in 2000, according to the data released by the Ministry of Trade, Industry and Energy. The findings are based on the latest available data compiled by the Ban
June 4, 2017
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FTC chief nominee denies ethical lapses
Kim Sang-jo, South Korea’s nominee for the chairman of its anti-trust regulator, rebutted allegations that he copied one of his academic research papers in 2000 during a parliamentary confirmation hearing Friday.Dubbed “chaebol sniper” for his longtime shareholder activism, the economics professor at Hansung University is a key figure in President Moon Jae-in’s drive to reform chaebol as the head of the Fair Trade Commission. Although Kim’s appointment does not require parliamentary consent, the
June 2, 2017
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Samsung Heavy Industries secures $2.5b contract
Samsung Heavy Industries has secured a deal worth $2.5 billion to build a liquefied natural gas facility off the coast of Mozambique, the company said Friday. The deal is part of the Coral South project led by Italy’s state-run energy firm Eni and other partner companies. Under the contract, Samsung Heavy Industries will construct a floating natural gas production facility by 2020. The construction is expected to begin in 2019, according to the company. (Yonhap)The facility, which measures 439
June 2, 2017
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Korea’s coffee product imports reaches record high last year
South Korea’s imports of coffee products posted a record-high last year, with the domestic coffee market continuing to expand, government data showed Friday.Inbound shipments of coffee products, such as unroasted beans, roasted beans and coffee capsules reached 159,000 tons as of end-December last year, a 10.7 percent increase compared to 2015, data from the Korea Customs Service said. It was the largest amount recorded since the Korea Customs Service started compiling the related data in 2000.
June 2, 2017
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Korea's mobile shopping hit record high in April
Purchases made through mobile gadgets like smartphones accounted for record high levels of all products traded online in April, government data showed Friday.Mobile transactions through smartphones and tablets reached 3.68 trillion won ($3.28 billion) in April, surging 42.2 percent from a year earlier, according to the data by Statistics Korea. (Yonhap)The amount was equal to 60.6 percent of all online purchases made in the cited month that reached 6.08 trillion won, and outpaced the earlier rec
June 2, 2017
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Global air purifier market to grow 17.5% this year: report
The global air purifier market is forecast to expand 17.5 percent this year, fueled by burgeoning demand for the anti-contaminant home appliances, a report showed Friday.The market is expected to be valued at $6.7 billion by the end of this year, based on the growth estimates, the Korea Institute of Science and Technology Information. (Yonhap)The global air cleaner market has been growing at an annual rate of 12.4 percent over the past three years, the report said, adding that it is likely to p
June 2, 2017
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Cosmetics sales growth slows in April amid THAAD row
The sales growth of South Korean cosmetics products slowed in April from a year earlier, due largely to a decline in Chinese tourists who are the main customers for local beauty items, data showed Friday. The index gauging the retail sale of cosmetics products grew 2.2 percent in April from the previous year, the lowest growth since the figure marked negative 7.1 percent in August 2015, according to the data by Statistics Korea.That month the country suffered from the aftermath of the Middle Eas
June 2, 2017
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Frozen fly found in Binggrae ice cream: consumer
A consumer claimed Thursday that a frozen fly was found in an ice cream bar from Binggrae.“I was eating the ice cream when I discovered the fly frozen into the ice cream,” the consumer surnamed Park told The Korea Herald. He added that he had purchased the Melona ice cream bar at around 5 p.m. from a convenience store Wednesday. Melona bar with a frozen fly (provided by Park)When Park contacted the customer service center, a quality manager came to pick up the ice cream bar at about 2 p.m. Thurs
June 1, 2017
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Absolut Vodka to release new lime flavor
Absolut Vodka has added a new lime flavor to its popular series of vodkas, said the company Thursday.The new product, Absolut Lime, is made from natural ingredients without any artificial sweeteners to preserve the lime flavor, according to the company. Absolut Vodka’s new lime-flavored vodka, Absolut Lime (Absolut Vodka)The company is also to offer 13,000 home-made cocktail kits that include a highball glass with a scale mark to make Absolut Cool Lime. “Absolut Lime will perfectly give the bes
June 1, 2017
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[Photo News] Korean Air trains flight attendants back from maternity leave
BACK TO WORK -- Flight attendants who have returned to work after taking maternity leave attend the Korean Air training center in Gangseo-gu, Seoul, Thursday. The airline, which has an 18,700-strong workforce that is 42 percent women, allows up to two years of continuous child care leave. (Yonhap)
June 1, 2017
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Will Moon meet Trump without business delegation?
Speculations have been raised that President Moon Jae-in could possibly exclude a group of South Korean business representatives on his maiden international trip to the US later this month, in the wake of increasing signs that the nation’s new leader is ill at ease with large businesses over his labor-friendly policy and chaebol reform initiatives. Chung Eui-yong, chief of the National Security Office, told reporters that the presidential office is still “reviewing” whether to take businessmen o
June 1, 2017
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SAP launches expense management solution Concur
SAP’s subsidiary company specializing in management solutions for business trips, expenses and invoices, Concur, has entered the Korean market, the company said Thursday.“Concur is like a mobile secretary on your phone,” said CEO of SAP Korea Hyung Won-joon.“For instance, an employee does not have to file his receipt after using services such as Uber during his business trip as the report will be sent digitally to the company through Concur.” (Concur)He added that Concur has been released at the
June 1, 2017
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CJ CheilJedang completes acquisition of Ravioli
CJ CheilJedang said Thursday that it has completed the acquisition of Russian frozen food company Ravioli, setting the foundation for a two-track strategy in the Russian market.The Korean company acquired a 100 percent stake in Ravioli for 30 billion won ($27 million). Ravioli, first established in 1994, is known for making Russian dumplings called pelmeni. Its revenues last year reached 45 billion won. Following the acquisition, Ravioli has been renamed CJ Raviollo Rus, according to CJ CheilJed
June 1, 2017
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Hyundai Heavy’s January-May period ship orders increase by 400%
Hyundai Heavy Industries won orders for 62 ships worth $3.8 billion during the January to May period of the year, achieving more than half of its annual ship order target of $7.5 billion, said the group Thursday.This is a fivefold increase compared to the same period last year when it won deals for 12 ships worth $1 billion.(Yonhap)HHI netted 20 ships worth $1.3 billion in May and these numbers may jump to 29 ships and $1.9 billion when options are included.According to a report by Clarksons, HH
June 1, 2017
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KT&G receives award for workplace gender equality
Cigarette maker KT&G said Thursday that it had been awarded the labor minister’s award for workplace gender equality.Last year, the number of male employees using child care leave at KT&G saw a fourfold increase on-year. It also implemented an automatic child care leave system that allowed new mothers to take time off without complicated paperwork. Labor Minister Lee Ki-kwon (left) presents KT&G CEO Baek Bok-in with the minister’s award for workplace gender equality Wednesday. (KT&G)The company
June 1, 2017
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HDC Shilla Duty Free names new co-CEO
HDC Shilla Duty Free, a joint venture between Hyundai Development Company and Hotel Shilla, has named Hotel Shilla Vice President Kim Chung-hwan as a new co-head, according to the company Thursday.Shareholders and the executive board of the company named Kim to lead the firm alongside co-CEO Yang Chang-hoon. Kim Chung-hwan, the new co-CEO of HDC Shilla Duty FreeKim joined Samsung C&T in 1983, and served in various management positions both in Korea and abroad. He joined Hotel Shilla in 2011 whe
June 1, 2017
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New duty-free shops ask for delay in opening over THAAD
Duty-free stores that were newly licensed last year have asked the Korea Customs Service permission to push back their opening to next year, according to the Korea Duty Free Shops Association Thursday.Under current regulations, operators are required to open newly licensed duty-free outlets within one year, meaning that stores run by operators like Shinsegae and Hyundai Department Store would have had to open by this December.However, in the wake of the tension between Korea and China over the i
June 1, 2017