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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S. Korea’s online advertising market grows 15%
South Korea’s digital advertising generated revenue of 3.7 trillion won ($3.2 billion) in 2016, marking a 15 percent on-year increase despite the sluggish ad industry, said the Korea Onlinead Association on Tuesday. “Through consumer-oriented digital ads based on data analysis, the online advertisement market has recovered from its stagnant growth since 2012,” said a spokesperson for KOA. The revenue for digital advertising was equivalent to a 32 percent share of Korea’s entire ad market.Mobile
March 15, 2017
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Patent lawsuits in China surge 37%: report
With China moving to enhance the protection of intellectual property rights against its widespread reputation as the land of counterfeit goods, the number of patent lawsuits filed within the mainland jumped nearly 37 percent in 2016 from a year earlier, a report said Wednesday.The number of patent lawsuits in China hit 28,916 in 2016, a 36.5 percent gain from 2015, according to the report by the Korea Trade-Investment Promotion Agency. The number of cases related to counterfeit products also sur
March 15, 2017
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HNA Group invests W160b in Kumho Asiana Group
Kumho Holdings announced Wednesday that China’s HNA Group will be investing 160 billion won ($139.8 million) in Kumho Asiana Group.It said that the Chinese company will be acquiring bonds with a warrant issued to secure operating funds.“The investment is part of the efforts to bring about a strategic synergy between Kumho Asiana Group and HNA Group, and it was possible upon discussion held last December in Seoul where the two chiefs of the groups agreed on the fields of cooperation such as hotel
March 15, 2017
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Heads of Korean shipbuilders due at Gastech for LNG carrier orders
Chief executives of South Korea's three major shipbuilders will join the world's biggest gas and liquefied natural gas conference in Japan next month, industry sources said Wednesday, amid the growing demand for LNG carriers to meet rising natural gas consumption in emerging economies.South Korea has emerged as a major player in the production of LNG carriers and floating storage and regasification units in recent years with three South Korean shipbuilders clinching a large portion of these orde
March 15, 2017
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Samsung may provide real-time VR for PyeongChang Olympics
Samsung Electronics is looking to allow viewers at home to feel in real time as if they are at the PyeongChang 2018 Olympics through virtual reality headsets. “We plan to offer virtual technology so that, let’s say, viewers with a VR headset in Seoul can enjoy the sports game as if they are at the scene,” Samsung Electronics Mobile Marketing Director Cha Young-tae told The Korea Herald following a meeting with the ICT Ministry on Tuesday. “We are in discussion with the International Olympic Comm
March 15, 2017
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Falling oil prices to boost consumption in emerging economies
Falling crude oil prices will likely boost petroleum and petrochemical products consumption in emerging economies that will benefit South Korea's refiners, industry sources said Wednesday.Benchmark West Texas Intermediate ended at $49.28 per barrel as of March 9, industry data showed.It is the first time since November that WTI fell below $50 per barrel.The fall in crude prices are attributed to the rising stockpiles and the increase in crude oil drilling equipment in the United States.Crude oil
March 15, 2017
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Korea vigilant as China's travel ban takes effect
South Korea is keeping a close watch on China's next moves that may work to further hurt its industries, as Beijing's travel ban to its neighboring country came into effect Wednesday, the latest hostile measure taken in protest of Seoul's stationing of a US anti-missile system. China-based travel agencies, both online and offline, are now forbidden to sell trips to Korea, including group tours, cruise stopovers and individual travels booked through agencies, following an instruction from the Chi
March 15, 2017
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Korea's ICT exports rise for 4th month in Feb.
South Korean exports of information and communications technology products increased for the fourth month in a row in February on brisk overseas sales of semiconductors and displays, government data showed Wednesday.Overseas shipments of ICT products surged 22.8 percent on-year to $14.06 billion last month, exceeding the $14 billion mark for the first time in February, according to the data compiled by the Ministry of Trade, Industry and Energy.ICT imports increased 6 percent on-year to $7.29 bi
March 15, 2017
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Analysts give mixed forecasts on sales of Samsung's S8 smartphone
Some analysts on Wednesday gave mixed forecasts on sales of Samsung Electronics Co.'s upcoming Galaxy S8 smartphone, which will be unveiled later this month. Two analysts in South Korea expected sales of the S8 smartphone to exceed those of its predecessor, the S7 smartphone, while a brokerage in Taiwan predicted that sales of the S8 may fall short of the S7. The S8 smartphone follows Samsung's Galaxy Note 7 phablet, which was discontinued last year due to battery problems that caused some of th
March 15, 2017
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Creditors mull over another rescue package for cash-strapped Daewoo Shipbuilding
Creditors of Daewoo Shipbuilding & Marine Engineering Co. are looking at an option to map out another rescue package worth up to 3 trillion won ($2.6 billion) for the cash-strapped shipbuilder, as the company is feared to face a deepening liquidity shortage amid a plunge in new orders, industry sources said Wednesday.In late 2015, the creditors, led by the state-run Korea Development Bank, announced a rescue package worth 4.2 trillion won, a huge chunk of which has already been spent to salvage
March 15, 2017
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Most Korean firms are exposed to dangers of Chinese retaliation over THAAD
Most of South Korea's major firms may be held hostage by China in the latter's attempt to express its anger over Seoul's planned deployment of a US missile defense system, due largely to their growing sales in China, a report suggested Wednesday.According to the report by CEO Score, a market research firm here, some South Korean conglomerates had more than half of their annual sales come from China over the past few years, meaning a sudden drop in their sales in China could be detrimental to the
March 15, 2017
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Samsung Electronics to hike DS division's H1 hiring sharply
South Korean tech behemoth Samsung Electronics Co.'s display and semiconductor division will sharply increase its employment of new employees in the first half to meet growing demand for its products, officials said Wednesday.Samsung's DS division, which is in charge of producing displays, memory chips and system large-scale integration products, plans to hire nearly 2,700 employees in the first half, up 50 percent from a year earlier.The world's largest maker of smartphones and memory chips unv
March 15, 2017
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Angry Chinese disappear from Korean tourist sites
Early spring is usually high season for tourism at Seongsan Sunrise Peak on the southern resort island of Jeju.But it was hard to spot foreigners visiting the site on Monday afternoon as the spat between South Korea and China over the deployment of a US missile defense system known as the Terminal High Altitude Area Defense dealt a harsh blow to the tourism industry nationwide. In the UNESCO-listed world heritage site, only a small number of locals were hiking on the mountain or taking pictures
March 15, 2017
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Korea's jobless rate hits over 7-year high in Feb.
South Korea's jobless rate rose to an over seven-year high in February amid increased youth unemployment, government data showed Wednesday.The unemployment rate in Asia's fourth-largest economy stood at 5 percent last month, edging up 0.1 percentage point from the same month last year, according to the report compiled by Statistics Korea.From a month earlier, the rate also jumped 1.2 percentage points from 3.8 percent.The figure marked the highest since January 2010 when it hit 5 percent, while
March 15, 2017
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Hanwha E&C’s new city project in Iraq takes shape
About 5,000 households have so far moved into a new city in Iraq, developed by Hanwha Engineering and Construction, the South Korean firm said Tuesday. Hanwha E&C has been building new houses and infrastructure for a project worth $10.1 billion in the new town in Bismayah, 10 kilometers southeast of Baghdad, since mid-2016. The construction of the Bismayah project is about 32 percent completed. Hanwha has so far collected $3.7 billion in construction fees from the Iraqi government for the new ci
March 14, 2017
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Merck generates record sales in 2016
German pharmaceutical company Merck said Monday its sales and earnings rose significantly in 2016, as major strategic advances were made in all three business sectors.“2016 was a successful year for Merck. In health care, two of our compounds are in registration. In our life science business sector, we made rapid progress with the integration of Sigma-Aldrich. We have moved ahead faster and even better than expected with the realization of synergies,” said Merck CEO through the company’s stateme
March 14, 2017
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Samsung to push structural split despite political scandal
Samsung Electronics’ chief financial officer said the company plans to announce the company’s plan to split itself as scheduled. “Regardless of the group issue (political scandal and the company heir’s arrest), we plan to review and announce the split plan as scheduled because that is what we promised to our shareholders,” Lee Sang-hoon, Samsung Electronics CFO, told reporters following a business conference held at the Korea Chamber of Commerce & Industry on Tuesday. As to how to convene the co
March 14, 2017
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Korean airlines to cut back China-bound flights
South Korean airlines said Tuesday they will reduce China-bound flights temporarily to cope with falling tourist demand after Beijing ordered its travel agencies to stop selling group tours in protest of Seoul's installation of a US anti-missile system. Local air carriers, including budget carriers, are facing difficulties after Beijing has taken a hardline stance on the Terminal High Altitude Area Defense issue. China has accused Seoul of undermining regional security by agreeing to station the
March 14, 2017
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Hanwha chairman meets GE chief for new growth engines
Hanwha Group Chairman Kim Seung-youn met with General Electric Chairman Jeffrey Immelt at the company’s headquarters in Seoul on Monday to seek new business partnerships, the company said Tuesday. According to Hanwha, Kim and Immelt talked about seeking new growth engines by adding value to the manufacturing sector based on industrial internet technologies. The two heads also discussed how to further cooperate on the aero engine and gas turbine sectors, which Hanwha Techwin and GE have partnered
March 14, 2017
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[Photo News] Daily Casa
Furniture brand Casamia launches a new brand called Daily Casa focusing on interior design items and furniture at affordable prices, with two stores located at Homeplus outlets in Incheon and Suwon. The Daily Casa store in Incheon is pictured in the photo. (Casamia)
March 14, 2017