Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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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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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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[KH Explains] Is private equity giant MBK a risk-taker or renegade?
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Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
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[From the Scene] Hyundai Mobis catalyzes electrification with new mobility tech
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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What chaebol sniper’s rise as FTC head means for Samsung
Mixed reactions lingered Thursday in Samsung following the nomination of a chaebol expert, who was at the forefront of attacking Samsung’s three-generation governance structure, to head the nation’s antitrust watchdog. Kim Sang-jo, an economics professor at Hansung University, is a passionate critic of South Korea’s largest conglomerate. He publicly denounced the alleged collusive ties between Samsung and politics at a parliamentary hearing late last year to question chaebol owners, including Le
May 18, 2017
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Energy firms on alert over shutdown plan of coal-fired power plants
South Korea’s energy companies are on alert, as President Moon Jae-in appears determined to carry out his pledge to cut fine dust emissions by 30 percent by reducing the number of coal-fired power plants.On Monday, Moon ordered the temporary shutdown of outdated coal-fired plants aged 30 years or over. As such, 10 of the nation’s 59 coal-fired plants, located in the Gangwon, South Jeolla, South Chungcheong and South Gyeongsang provinces, will stop operating for a month in June. The government al
May 18, 2017
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KAC opens Olympic promotion booth in Haneda Airport
Korea Airports Corp. held an opening ceremony for a booth promoting the Winter Olympic Games in PyeongChang and tourism to Korea at Tokyo Haneda Airport in Japan Thursday. (From left) Park Sam-koo, chairman of the Visit Korea Committee, Nobuaki Yokota, president of Japan Airport Terminal Co., Sung Il-hwan, CEO of Korea Airports Corp., Isao Takashiro, chairman and CEO of Japan Airport Terminal Co. and Katsuji Doi, president and CEO of Tokyo International Air Terminal Corporation, attend the open
May 18, 2017
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Tobacco industry gears up for smoke-free battle
The tobacco industry is gearing up for a battle to capture the market for smoke-free alternatives to traditional cigarettes. Marlboro maker Philip Morris made the first move Wednesday with the announcement that its heated-tobacco system IQOS will be making its Korea launch on June 5. Based on research that the majority of smoking-related disease comes from the chemicals produced during combustion, IQOS focuses on delivering nicotine by heating tobacco and creating vapor using an electronic devic
May 18, 2017
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Samsung's quad-edge flexible display wins award
Samsung Display Co. said Thursday its quad-edge organic light-emitting diode display won an award from a major industrial organization.The South Korean company said its quad-edge OLED display won the Display Industry Awards from the Society for Information Display. (Yonhap)The award is regarded as one of the top honors in the display industry.The SID said Samsung Display's quad-edge display boasts top-notch technology by adopting a curved design at all sides.Samsung Display, which started produ
May 18, 2017
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Samsung Electronics to release new tablet PC
Samsung Electronics Co. said it has started selling a new tablet PC on Thursday, which runs on the Windows 10 operating system.The South Korean tech giant kicked off sales of the Galaxy Book, which can connect to keyboards and be used like a laptop. As it runs on the Windows platform, consumers can use most PC software, such as Photoshop. A model poses for a photo with the Galaxy Book devices in this photo released by Samsung Electronics Co. on May 18, 2017. (Yonhap)Samsung said the Galaxy Book
May 18, 2017
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Egg prices rise on supply concerns
Local egg prices were rising again with the country yet to stabilize the market following the latest outbreak of bird flu, officials said Thursday.The Korea Agro-Fisheries & Food Trade Corp. said a carton of 30 eggs was priced at an average of 8,027 won ($7.17) as of Wednesday, up 61.3 percent from last year. An image of eggs (Yonhap)Egg prices had shot up following the avian influenza epidemic from November last year, going as high as the 9,000 won range before falling back to the 7,000 won ran
May 18, 2017
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China expands presence in Indian handset market, threatens Samsung
Chinese tech companies are gradually expanding sales in India, industry data showed Thursday, and starting to threaten Samsung Electronics Co., which is currently the leading player in the subcontinent.According to the industry tracker Strategy Analytics, China-based Vivo sold 1.9 million handsets in the first quarter in India, accounting for 7 percent of the market and claiming a spot on the top five list.Vivo has been gathering popularity in India on the back of the V5 smartphones. The Chinese
May 18, 2017
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14 companies report 'WannaCry' damage in Korea
South Korea's state-run cybersecurity agency said Wednesday that 14 companies have been struck by the crippling ransomware "WannaCry" so far, which has been emerging as one of the biggest threats to global cybersecurity.Ransomware refers to malware that locks up files on a computer with encryption until the victims pay a certain amount of money to hackers. The latest instance of ransomware, called "WannaCry," first surfaced last week, damaging some 200,000 computers in 150 countries around the g
May 17, 2017
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Hyosung promotes polymer brands at Chinaplas expo
Hyosung is participating in Asia’s largest plastic industry expo Chinaplas, from Tuesday to Friday, promoting Hyosung Chemicals Performance Group’s polypropylene brand Topilene and polyketone brand Poketone.Participating in the event for the first time for its polypropylene business, diverse products, including pipes, films, transparent containers, and heat-resisting home appliances, were revealed, the company said. Hyosung's booth at Chinaplas (Hyosung)The company has developed its own technolo
May 17, 2017
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Hyundai Heavy, Samsung win patent suit against DSME
The nation’s top court has dismissed an appeal by Daewoo Shipbuilding and Marine Engineering to keep its patent over a technology that reliquefies evaporated liquefied natural gas, industry sources said Wednesday.The ruling puts an end to a three-year trial that looked into a request made by DSME’s rivals, Hyundai Heavy Industries and Samsung Heavy Industries, to nullify the former’s patent right. The two companies claimed that DSME falsely promoted that the company holds a patent for the techno
May 17, 2017
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[Newsmaker] Returning CJ chief vows W36tr investment
CJ Group Chairman Lee Jay-hyun has made an official comeback to the nation’s food and entertainment giant, ending a four-year hiatus in management due to his ill health and jail term. The chairman, in a gray double-breasted suit, stood up from his wheelchair to plant a commemorative tree for a research and development center for food and biochemistry businesses in Gwanggyo, a commuter town south of Seoul on Wednesday. (Yonhap)Standing in front of CJ staff and executives, Lee said he would inves
May 17, 2017
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Samsung to expand Tizen ecosystem in appliances
Samsung Electronics unveiled Tuesday its upgraded Tizen operating system, in a move that shows the company’s ambition to take the lead in operating systems for home appliances in the Internet of Things era. “We will expand the Tizen ecosystem into all of Samsung’s home appliances including (the) smart TV, refrigerator, washing machine, air purifier and lighting in the IoT era,” said Samsung’s Vice President Lee Hyo-gun while launching the Tizen 4.0 platform at its annual Tizen Developer Conferen
May 17, 2017
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GS Group holds 8th GS value creation forum
GS Group, a South Korean refinery and retail conglomerate, held its eighth GS Value Creation Forum to share notable performance by affiliates, the company said Wednesday.“Let’s put in all efforts for change and innovation to lead the development of GS and to create more jobs,” said GS Group Chairman Huh Chang-soo. GS Group Chairman Huh Chang-soo (GS Group)“In the recent management environment, it is difficult to predict the speed and direction of change. Monitoring market trends and customers al
May 17, 2017
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[Moon in Office] Big retailers brace for restrictions
The Korea Herald is publishing a series of articles delving into the economic policies and tasks expected of the new Moon Jae-in administration. This is the fifth installment -- Ed.Big retailers in Korea are cautiously watching the new Moon Jae-in administration, with many anticipating more restrictions in the operations of large-scale outlets.On the campaign trail leading up to the election, Moon had been vocal about his belief in the need for government intervention to create a “level playing
May 17, 2017
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‘Chaebol sniper’ to head anti-trust watchdog
President Moon Jae-in has named Kim Sang-jo, a longtime shareholder activist with a nickname “chaebol sniper,” to be the new head of the anti-trust watchdog Fair Trade Commission, Cheong Wa Dae said Wednesday.His appointment signals President Moon’s strong drive on chaebol reform through a strengthened role of the FTC, which is likely to enhance monitoring on the four largest business groups -- Samsung, Hyundai Motor, SK and LG -- as Moon had previously vowed. New head of the Fair Trade Commiss
May 17, 2017
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Philip Morris first to bring smoke-free heated tobacco to Korea
Tobacco company Philip Morris Korea announced Wednesday that it will bring its smoke-free, heated tobacco product IQOS to Seoul on June 5, becoming the first mover in the next generation of tobacco products here.“Our vision is a smoke-free future,” Philip Morris Korea CEO Chong Il-woo said at a press conference at Banyan Tree Club and Spa in Seoul on Wednesday. Philip Morris Korea CEO Chong Il-woo speaks at a press conference held at the Banyan Tree Club and Spa in Seoul, Wednesday. (Philip Morr
May 17, 2017
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[Photo News] Korean Air officials plant trees to slow down Mongolian desertification
PLANTING TREES -- Korean Air officials, flight attendants and other participants join a project to plant trees in desertified areas in Baganuur, Mongolia, Tuesday. Some 600 have signed on for the project to expand the “Korean Air forest” that the air carrier has been creating since 2004. It currently sits on some 44 hectares of land with about 110,000 trees. (Lee Gil-dong/The Korea Herald)
May 17, 2017
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Macau looks to new future beyond gambling
MACAU -- Once relying heavily on attracting high-rollers and VIP guests, Macau is looking to a new future of non-gambling amenities to fiscally revitalize the city, following three consecutive years of slumping revenue. The annual three-day Global Gaming Expo Asia (G2E Asia) kicked off its 11th year at the Venetian Macao on Tuesday, in the largest event in the expo’s history. It has drawn more than 12,000 visitors and buyers this year, with 45 percent made up of new exhibitors.The event’s show f
May 17, 2017
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Samsung Heavy ordered to partially suspend operation after fire
The labor ministry said it ordered Samsung Heavy Industries Co. to partially suspend operations after a fire broke out at its shipyard in the southeastern port city of Geoje on Wednesday. (Yonhap)The blaze, which began from a cooling installation at 10:07 a.m. was extinguished around 10:30 a.m., according to firefighters.No casualties were reported. The Ministry of Employment and Labor ordered Samsung Heavy to partially suspend operations near the site where the fire took place. The shipbuilder
May 17, 2017