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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Korea's ICT exports rise at fastest clip in nearly 7 yrs in April
South Korea's exports of information and communications technology products rose at the fastest clip in nearly seven years in April on brisk global demand for semiconductors and displays, government data showed Wednesday.A total of $15.55 billion worth of Korean-made ICT products were shipped overseas last month, up 24.2 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. (Yonhap)It marked the highest on-year growth since August 2010 when mo
May 17, 2017
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Daewoo Shipbuilding set to receive new loan later this month
Cash-strapped Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, is set to receive 500 billion won ($448 million) in fresh loans from its creditors later this month, industry sources said Wednesday.The financial aid, part of the second bailout fund drawn up by its creditors, will be spent on payments to subcontractors and to employees, they said.In March, the creditors led by the KDB announced a fresh rescue package for the ailing shipbuilder that has been suffering from severe
May 17, 2017
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Hyundai Merchant to see turnaround next year, chief says
Hyundai Merchant Marine Co., a major shipping firm here, will be able to achieve a turnaround during the second half of next year given its improving financial status and business conditions, its chief said Tuesday."Our business is quickly getting back on track helped by improving business and financial conditions," Hyundai Merchant chief executive Yoo Chang-keun said in a meeting with junior-level employees. (Yonhap)On Monday, Hyundai Merchant reported that its operating loss narrowed to 131 bi
May 16, 2017
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India slaps anti-dumping duties on Korean steel for 5 yrs
India has slapped anti-dumping duties on South Korean steel products for five years to better protect its homegrown industry, the country's trade promotion agency said Tuesday. "India has aggressively expanded its steel plants to meet growing local demand and increase exports. Steel imports from countries like South Korea, China and Japan have also jumped in recent years due to global oversupply," said a spokesman at the Korea Trade-Investment Promotion Agency. "The Indian government began to ta
May 16, 2017
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Demand for dual camera on phones lifts Samsung, LG
Global smartphone makers’ jump on the dual-camera trend has led Korean parts companies, Samsung Electro-Mechanics and LG Innotek, to ride the wave of growing demand. Dual-camera phones refer to smartphones that have two cameras on the rear, capturing more information and making both the subject and background clearer compared to a single-camera phone. (Yonhap)Apple led the dual-camera trend by adopting it for its flagship smartphone iPhone 7 last year. The US tech giant is expected to upgrade t
May 16, 2017
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[Herald Interview] Coway on course to solidify lead in Malaysian market
KUALA LUMPUR, Malaysia -- When Korean water purifier company Coway first entered the Malaysian market in 2006, household water purifiers were something of a status symbol. Before Coway, the existing water purifier companies in Malaysia were selling the machines outright, rather than offering them at low-cost monthly leases.“The fact that we brought our Korean rental scheme here was important,” Choi Ki-ryong, the managing director of Coway in Malaysia, told The Korea Herald during an interview at
May 16, 2017
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[Photo News] E-mart displays LED fans
ALL IN ONE -- Models show new fans that feature light-emitting diodes at the Seongsu branch of E-mart in Seoul on Tuesday. One of the LED fans displays messages when turned on. Another fan works as a clock and comes with an LED display that shows the temperature. (Yonhap)
May 16, 2017
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7-Eleven launches smart convenience store with Lotte
In conjunction with Lotte Card and Lotte Data Communication, 7-Eleven has launched its first smart convenience store equipped with a BioPay system at Lotte World Tower on Tuesday.BioPay is a payment method that allows consumers to make transactions by identifying themselves with a part of their body linked to a preassigned credit card. A visitor visits the newly opened 7-Eleven Signature store at the Lotte World Tower on Tuesday. (Yonhap)It is the first such store to be opened by 7-Eleven in th
May 16, 2017
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P&G attributes success to empowered employees
Celebrating 180 years of success, global household brand Proctor & Gamble emphasized its commitment to raising leaders within the company. P&G’s talent management system is recognized by human resource experts in the headhunting market, as former P&G employees and executives excel in various work areas across industries. Former GE CEO Jack Welch worked for P&G before joining GE. In Korea, several heads of global firms, such as Homeplus, Danone and Hermes, started their careers at P&G. The key to
May 16, 2017
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Kotra's food exhibition kicks off in Ilsan
The largest food exhibition in the country organized by South Korea's trade promotion body kicked off in Ilsan, northwest of Seoul, for a four-day run, the agency said Tuesday.(KINTEX)The 35th session of the International Food Industry Exhibition, or Seoul Food, will offer a variety of promotion events and consultations for industry officials from here and abroad, seeking to boost trade in the local cuisine and food manufacturing sectors, the Korea Trade-Investment Promotion Agency said in a sta
May 16, 2017
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NCSoft’s highly anticipated ‘Lineage M’ slated for June release
Game maker NCSoft’s highly anticipated mobile game “Lineage M” is set to be released June 21, according to the company Tuesday.At a showcase at The Raum in Gangnam-gu, Seoul, NCSoft Chief Publishing Officer Kim Taek-heon said that the new mobile game was “created to be like ‘Lineage.’” NCSoft Chief Publishing Officer Kim Taek-heon at a media showcase for “Lineage M” at The Raum Tuesday. (NCSoft)“Lineage M” is the latest in a series of games launched using the Lineage name, starting with a deskto
May 16, 2017
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Coway invites runners to Malaysian marathon
DAMANSARA, Malaysia -- In the early hours of a hot and humid Sunday, over 4,000 Malaysians gathered at Starling Mall in Damansara, adjacent to Malaysia’s capital, for the first-ever Coway Run. The crowd was a mixed bunch, from elite runners who came decked out in athletic gear to young mothers in hijabs pushing their strollers along the 5-kilometer course.South Korea’s largest water purifier maker’s first-ever marathon on May 7 was organized to raise awareness about the importance of clean water
May 16, 2017
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Korea lags behind rivals in attracting foreign talent
South Korea lags behind rival industrialized countries in attracting talented foreign workers, various industry data showed Tuesday, despite the government's effort to ease its visa issuance system to cope with the country's declining labor force.The number of foreigners residing in South Korea jumped from 1.4 million in 2011 to 2.05 million in 2016, official data showed. (123RF)However, the number of talented foreigners with special visas decreased from around 50,000 in 2014 to some 49,000 in
May 16, 2017
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Samsung tops US UHD monitor market in Q1
Samsung Electronics Co. said Tuesday it has topped the US market for Ultra HD monitors in the January-March period, marking the fourth consecutive quarter to post such a record. Citing the data compiled by industry tracker NPD, Samsung said its UHD monitors took up 31.6 percent of the US market in the January-March period. Samsung Ultra HD monitors (Yonhap)The South Korean tech giant first emerged as the top player in the segment in the second quarter of 2016. Samsung said its products stand ou
May 16, 2017
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Samsung SDS establishes joint venture with Chinese firm
Samsung SDS Co., an IT arm of South Korea's top conglomerate Samsung Group, said Tuesday it has agreed to set up a joint venture with a Chinese firm to tap deeper into the logistics business.Samsung SDS said it agreed with China-based Kerry Logistics to establish a joint venture. Established in 1981, Kerry Logistics provides logistics services to some 42 countries around the globe. (Yonhap)The new venture will be named SDS KERRY (Shanghai) Supply Chain Solutions Ltd., according to Samsung. Other
May 16, 2017
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11 companies report 'WannaCry' damage in Korea
South Korea's state-run cybersecurity agency said Tuesday 11 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 globe. (Yo
May 16, 2017
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Hyundai Mobis to open proving ground to test parts, technology
Hyundai Mobis Co., an auto parts affiliate of Hyundai Motor Group, said Tuesday it will open its first domestic proving ground starting in June to test auto parts and related technologies. The country's biggest auto parts maker by sales invested about 300 billion won ($268 million) in the past 2 1/2 years to build the facility, a company spokesman said. Hyundai Mobis' proving ground in Seosan, 151 kilometers south of Seoul (Seonsan provincial government)"We have built the proving ground in Seos
May 16, 2017
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McDonald's Korea receives citation from Food Safety Ministry
(McDonald's Korea)Managing Director of McDonald’s Korea Melanie Joh (right) receives a citation from Food and Drug Safety Minister Sohn Mun-gi in celebrating the 16th Food Safety Day Sunday. The company’s efforts to promote healthier lifestyles by providing “zero trans-fat” products, lowering the sodium content in its french fries, and launching new salad menus were recognized by the ministry. Also, the “Made For You” system where products are made upon order and the “30 Minute 20 Second Time Ou
May 15, 2017
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LG Chem to sell W800b debt
LG Chem Ltd., South Korea's top chemicals firm, said Monday that it plans to sell 800 billion won ($712 million) worth of debt to fund the expansion of its facility and refinance short-term maturing debt.In a regulatory filing, LG Chem said it has originally planned to sell 500 billion won worth of debt, but jacked up the amount given strong demand for the debt issue. (Yonhap)The bond issue is the largest for the company since 2012.In a book building process for institutional investors, orders f
May 15, 2017
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Kumho Tire Q1 net losses widen as demand falls
Kumho Tire Co., South Korea's second-biggest tiremaker by sales, said Monday that its first-quarter losses widened from a year earlier on lower demand from major markets. Kumho Tire's net losses reached 60.6 billion won ($54 million) for the three months ended March 31, compared with a loss of 15.4 billion won a year earlier, the company said in a statement. "Lower demand from the United States and Europe hit a blow to our overall sales. Moreover, sharp declines in tire sales in China amid a row
May 15, 2017