Most Popular
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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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Military aircraft evacuating S. Koreans in Lebanon returns home
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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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BTS-themed moon jar to be unveiled on Hangeul Day
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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Market uncertain on Korea's October rate cut despite slowed inflation
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[Robert Fouser] Why the US election looks so close
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Samsung unveils 'personalized AI' for all devices
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Korea to take part in IFE UK 2017
Korea’s Agriculture Ministry and the Agro-Fisheries and Food Trade Corp. said Sunday that they will be representing Korea at the United Kingdom’s largest biannual food trade show.Korea will be participating in the International Food and Drink Event with 17 companies selling everything from fermented sauces to snacks and organic food under the slogan of “Tradition and Health, Innovation.” Visitors line up at Korea’s booth at the IFE 2015 (aT)These companies hope to close $28 million worth of tra
March 19, 2017
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Online retailers venture offline
Online retailers are expanding their reach to offline shoppers, setting up independent stores and entering department stores, with 13 such new stores slated to open at Lotte Department Store in the first half of 2017.“Online brands are continuously expanding into offline stores to raise their brand value and to receive real-time feedback from consumers,” Lotte Department Store said in a press release.Online fashion brands often start out as small enterprises that find their competitive power in
March 19, 2017
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Korea signs MOU with Jordan to help provide water shortage solution
South Korea and Jordan signed a memorandum of understanding to expand cooperation in water management in the Middle Eastern country that is made up of 90 percent arid desert, the Ministry of Land, Infrastructure and Transport said Sunday."We expect the MOU will serve as the occasion for South Korean companies to make inroads into Jordan to help solve the water shortage and other projects there," a ministry official said. This undated file photo is GS E&C's hybrid SWRO-PRO system connected to a d
March 19, 2017
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Korea's smart health care industry at standstill: report
South Korea's smart health care industry that is viewed as a next growth engine for the country has been at a standstill for the past five years due to lack of policy coordination, a report by a local think tank said Sunday.According to the Korea Institute for Industrial Economics and Trade, the country's health care-related businesses have been growing steadily in size over the years, but there has been a lack of growth in services provided by local companies."In the 2010-2015 period, the numbe
March 19, 2017
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SME corporation sets up cooperation channels with Vietnam, Cambodia, India
South Korea's state-run small and medium-sized business support corporation said Sunday that it has set up cooperation channels with key Asian countries as part of its ongoing efforts to bolster regionwide growth.The Small and Medium Business Corp. said it signed agreements with its counterparts in Vietnam, Cambodia and India to promote investment and forge close industrial ties that can contribute to growth down the line.A delegation led by SBC chief Lim Chae-un visited the three countries last
March 19, 2017
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Hyundai Heavy wins order for 4 LNG-fueled tankers
Hyundai Heavy Industries Co., a leading global shipyard, said Sunday that it secured an order to build four tankers that run on liquefied natural gas.The four vessels ordered by state-run Russian shipping company Sovcomflot will displace 114,000 deadweight tons each and be highly eco-friendly, the shipbuilder said. It said the entire order for the midsize Aframax crude tankers is worth around $240 million. An image of the LNG-powered tanker to be built by Hyundai Heavy for Sovcomflot (Hyundai He
March 19, 2017
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Creditors set to decide fate of cash-strapped Daewoo Shipbuilding
Creditors of Daewoo Shipbuilding & Marine Engineering Co. are set to announce a set of new rescue schemes next week for the cash-strapped shipbuilder, with many expecting the shipbuilder to be put under a debt workout in the worst case scenario, industry sources said Saturday.According to the sources, the creditors, led by the state-run Korea Development Bank, will map out up to 3 trillion won ($2.6billion) worth of assistance measures for the shipbuilder to help the company overcome a deepening
March 18, 2017
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[Newsmaker] Hyundai Motor chief retains board seat
Hyundai Motor Group Chairman Chung Mong-koo renewed his board membership at Friday’s shareholder meeting with the carmaker’s largest institutional investor, National Pension Service, abstaining from the vote.The 79-year-old Hyundai chief retained his seat on the nine-member board for the seventh time with his membership set to expire in 2020. At the meeting the wage limit of the board members was set at 15 billion won ($13.2 million), the same as last year. Chung‘s son, Vice Chairman Chung Eui-s
March 17, 2017
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LIG Nex1 attends Colombia defense show
South Korea’s leading defense company LIG Nex1 said Friday that it participated in a global conference held in Colombia to introduce its latest devices designed for naval defense.Colombia Mar 2017 is a biannual event hosted by the navy of the South American country and state-run shipbuilder Cotecmar, the company said. Around 70 companies from 16 countries participated in the three-day event that ended Friday. A naval officer listens to presentation on LIG Nex1’s products at Colombia Mar 2017 hel
March 17, 2017
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[Eye] Casamia Uffia finds its calling in creative spaces
Casamia Uffia is known as the office furniture arm of the midsized furniture house Casamia, but the company’s President Lee Hyung-woo says he prefers to describe his company in a different way.“Office furniture is actually not the majority of our sales,” he told The Korea Herald at Casamia Uffia’s showroom in Seongnam, Gyeonggi Province. “We design various commercial spaces, whether they be libraries, hotels, or office buildings.”Lee Hyung-woo, president of Casamia Uffia (Park Hyun-koo/The Korea
March 17, 2017
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[Weekender] Minimalist consuming is not about quantity
The idea of minimalism is often perceived in a quantitative sense. However, in today’s consumer market minimalism is not about buying less but about buying better, and retail players are scrambling to present items and services that can encourage spending by appealing to consumers’ sense of value. Minimalist storage and decoration items available at Ikea (Ikea)“Today’s consumer does not care about the perception of others. Everything is focused on finding happiness for the self, for defining one
March 17, 2017
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[Weekender] The art of living with less
For most people, moving is always an immense hassle. However, it took only two hours for 37-year-old Kim Yoon-jin and her family to pack up their belongings and move out of their residence in Seoul last month.“Granted the hired moving professionals were very speedy, our move took even less time because we own less things,” said Kim who considers herself a minimalist with little materialistic desires.There was a time when Kim cared deeply about things like making more money and living in a bigger
March 17, 2017
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Korea pushes to extend anti-dumping tariffs on foreign steel products
South Korea's agency handling trade remedies said Friday that it has decided to extend the current anti-dumping tariffs imposed on some foreign stainless steel products by three additional years.The Korea Trade Commission said it will ask the finance ministry to continue to slap anti-dumping tariffs of 3.56 to 15.39 percent on stainless steel products imported from Japan, India and Spain for three more years. James Kim (center), chairman of AMCHAM, speaks during a press conference at the US busi
March 17, 2017
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Hyundai Motor chief retains boardroom seat
Hyundai Motor Group Chairman Chung Mong-koo renewed his board membership at Friday’s shareholder meeting with the carmaker’s largest institutional investor, National Pension Service, abstaining from the vote.The 79-year-old Hyundai chief retained his seat on the nine-member board for the seventh time with his membership set to expire in 2020. At the meeting the wage limit of the board members was set at 15 billion won ($13.2 million), the same as last year. Chung's son, Vice Chairman Chung Eui-s
March 17, 2017
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Naver shareholders confirm new CEO
Shareholders of Naver Corp., the operator of South Korea's dominant Internet portal, on Friday confirmed Han Seong-sook as the company's new CEO. The 50-year-old Han, formerly the vice president of Naver, replaced Kim Sang-hun, whose term expires this month.Han, a former journalist who specialized in information technology in the 1990s, joined Naver in 2007.The new CEO is estimated to be highly responsive to the changing needs of the Internet industry, Naver officials said. During the general me
March 17, 2017
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Korea eyes attracting tourists from all across Asia to overcome THAAD row
South Korea has stepped up efforts to overhaul its dependence on China for its tourism trade by shifting the focus to other Asian countries to cope with the fallouts triggered by the stationing of an advanced US missile defense system here, sources said Friday. The country's tourism is bearing the brunt of what appears to be acts of retaliation by Beijing against Seoul's decision reached in July to host a Terminal High Altitude Area Defense battery. China has vehemently objected to the move, say
March 17, 2017
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Samsung to begin pre-order sales of Galaxy Tab S3 in US
Samsung Electronics Co. is set to start pre-orders of its new tablet computer, the Galaxy Tab S3, in the United States later this week, according to the company on Friday. Samsung unveiled the 9.7-inch tablet computer at an annual wireless technology fair in Spain last month. This photo shows Samsung's Galaxy Tab S3. (Samsung Electronics Co.)Pre-order sales of the Galaxy Tab S3 in the US will begin on Friday (Washington time) and the price was set at $599.99, Samsung said. In-store retail sales
March 17, 2017
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LG Electronics cuts board size
Shareholders of LG Electronics Inc. approved a plan Friday that reduced the number of board members to seven directors from nine, in what the company says is a move to better cope with the rapidly changing global market environment.LG Electronics CEO Jo Seong-jin, who was nominated to take up the post last December, was formally appointed at the company's annual shareholder meeting in Seoul.Jo, a high school graduate with no bachelor's degree who joined LG Electronics in 1976, was credited with
March 17, 2017
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Hyundai ships new i30 hatchbacks to Australia
Hyundai Motor Co. said Friday it has shipped its first batch of the new i30 hatchback to Australia while planning to ship more of the vehicles to the United States, Canada and Brazil during the first half of this year.Hyundai said it shipped 300 of its i30s to Australia last week. A file photo of the i30 hatchback (Hyundai Motor Co.)A total of 37,772 i30 hatchbags were sold there last year, becoming the third biggest-selling car in the country, a company spokesman said.The latest version of the
March 17, 2017
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Korea-led consortium wins $3b deal to build Turkey's Canakkale bridge
An international consortium led by major South Korean builder SK E&C has inked a deal to build the world's longest suspension bridge in Turkey, government officials in Seoul said Friday.The deal, said to be worth some $3 billion, was signed in Ankara on Thursday, according to officials from the Ministry of Land, Infrastructure and Transport. This photo provided by SK E&C shows a rendered image of the Canakkale 1915 Bridge, which will become the world's longest suspension bridge when built. (Yonh
March 17, 2017