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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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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Market uncertain on Korea's October rate cut despite slowed inflation
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Samsung unveils 'personalized AI' for all devices
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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[Robert Fouser] Why the US election looks so close
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Special counsel bill to probe first lady scrapped
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Carrefour's stores in Beijing halt purchase of Korean dairy products
French retailer Carrefour's 12 stores in the Chinese capital of Beijing appears to have halted their purchase of South Korean dairy products, two officials at local distributors of the Korean goods said Monday. The reason why the Carrefour stores in Beijing have suspended their purchase of Korean dairy products is unknown, but it came as China is stepping up its retaliatory measures against South Korea's decision to install an advanced U.S. missile defense system, or THAAD. This undated Yonhap N
March 6, 2017
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Hyundai Motor chief‘s reelection as director hangs on NPS decision
Hyundai Motor Group Chairman Chung Mong-koo awaits re-election as the in-house director of shareholders, and the National Pension Service, the group’s second-biggest single stakeholder, holds the key. Hyundai Group Chairman Chung Mong-koo. (The Korea Herald)The NPS, currently embroiled in the scandal that has led to the arrest of Samsung Electronics Vice Chairman Lee Jae-yong, holds 8.02 percent of Hyundai Motor Group’s shares, following the group’s holding company Hyundai Mobis with 20.78 perce
March 6, 2017
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Bankrupt Hanjin Shipping to be delisted
Hanjin Shipping, once South Korea’s largest shipper, is set to be delisted from the local bourse Tuesday, while newly established SM Line Corp. will begin its first service Wednesday. Shares of Hanjin Shipping closed at 12 won ($0.01) Monday, plunging 68 percent from the previous trading day. It was the last day of the seven trade days that the country’s bourse operator Korea Exchange allowed investors to sell off Hanjin stocks. A Hanjin Shipping Co. terminal in the port city of Busan shows no
March 6, 2017
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Samsung denies special counsel’s accusation
Samsung Electronics denied the special counsel’s final briefing Monday that accused Vice Chairman Lee Jae-yong of being a bribery suspect in the influence-peddling scandal that led to the impeachment trial of President Park Geun-hye.“We disagree with the special prosecutor’s findings,” Samsung said in a statement. The logo of Samsung in front of its office building (Yonhap)“Samsung has not paid bribes nor made improper requests seeking favors. Future court proceedings will reveal the truth.”Park
March 6, 2017
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CJ heirs promoted amid leadership vacuum
South Korea’s food and entertainment giant CJ Group on Monday conducted its largest personnel reshuffle in recent years, promoting the chairman’s daughter and her husband as executives in charge of the group’s global business.Lee Kyeong-hoo, 32, was named deputy president of CJ’s US office in Los Angeles. She has become an executive six years after joining the family-owned conglomerate. The eldest child of CJ Chairman Lee Jay-hyun has been working for the group’s global marketing business, along
March 6, 2017
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Hyundai Heavy bags deal to build LNG carrier
Hyundai Heavy Industries Co., a major shipyard here, said Monday that it has secured a deal to build a LNG carrier, the latest in a series of its shipbuilding contracts.Hyundai Heavy did not reveal the terms of the contract, but a deal to build a 180,000-cubic meter LNG ship is valued at some $193 million, according to industry sources. (Yonhap)With the latest deal, Hyundai Heavy has received deals so far this year, valued at a combined $800 million to build a total of six ships, including two v
March 6, 2017
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Asiana expands codeshare with United to Chicago
Asiana Airlines said Monday that it will be expanding its codeshare agreement with United Airlines to include Chicago effective Mar. 17.Under the codeshare agreement, United will be able to place its UA code on Asiana flights connecting Incheon and Chicago‘s O’Hare International Airport. Asiana will put its OZ code on United‘s 16 routes to domestic destinations within the US. (Asiana Airlines)Asiana currently offers five weekly nonstop flights to Chicago. In 2016, the airline filled 83.8 percent
March 6, 2017
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Papa John’s tops pizza satisfaction rankings
Pizza franchise Papa John‘s has been ranked the top pizza brand in terms of customer satisfaction in a recent survey in South Korea, according to the Korea Consumer Agency Monday.Papa John’s beat other industry leading brands such as Pizza Hut and Domino‘s Pizza to receive highest overall marks on consumer satisfaction. (123rf)According to the survey, Papa John’s ranked the top in the “taste” category, which is the most important factor considered by consumers when choosing a pizza brand. It ra
March 6, 2017
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Samsung Bioepis wins UK patent suit
The UK High Court of Justice has judged that two patents held by AbbVie on its top-selling arthritis treatment Humira are invalid, ruling in favor of Samsung Bioepis, which had challenged the patents as it seeks to commercialize a biosimilar version of Humira in Europe in as early as 2018.The London-based court, which handles intellectual property disputes, ruled last Friday in favor of Samsung Bioepis and its partner Biogen, invalidating AbbVie’s two secondary patents on Humira. The ruling also
March 6, 2017
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Major duty-free stores yet to be affected by dwindling Chinese tourists over THAAD
South Korea's major duty-free shops have been operating in the black in recent months despite the number of Chinese tourists declining over the country's plans to deploy an advanced US missile defense system, indtry sources said Monday. Chinese travel agencies in recent weeks spended sales of tour packages to South Korea as part of the Beijing government's retaliation against Seoul's decision in July to have the Terminal High Altitude Area Defense system deployed on South Korean soil later this
March 6, 2017
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Initial sales of LG G6 look favorable: reports
Market analysts said the initial sales of LG Electronics’ new flagship smartphone G6 look favorable and could bring a turnaround in LG’s mobile communications unit if they continue. LG G6, which was unveiled on Feb. 26 at Mobile World Congress in Barcelona, has sold more than 40,000 units in the four days since it went on sale in Korea, LG said Monday. G6 features a 18:9 ratio display that the company says can provide a more immersive experience when streaming videos and playing games.HI Investm
March 6, 2017
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Event marks Jecheon medicine bio expo
The D-200 commemorative event for the 2017 Jecheon International Korean Medicine Bio Industry Expo took place at the War Memorial of Korea in Yongsan on Monday.“The integration of oriental medicine and high-tech natural product bio industry will be reinforced through the expo, allowing Jecheon to rise as the mecca of natural product industry in Northeast Asia,” said Jecheon city mayor Lee Geun-gyu. Venue guide map for the expo (Jecheon International Korean Medicine Bio Industry Expo)About 300 pe
March 6, 2017
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Chinese goods flex more muscle in Korea
Chinese products are fast expanding their presence in South Korea in a graphic indication of their ever-growing brand power in Asia's fourth-largest economy, local analysts said.China has long been a major exporter of consumer goods and tech items to South Korea, but Chinese manufacturers, armed with lower prices and improved quality, are now venturing into new South Korean markets such as home appliances and even autos.Last year, South Korean imports from China came to $86.98 billion, with Seou
March 6, 2017
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Corporate watchdog slaps fine on Shinsegae affiliates for disclosure violations
South Korea's corporate watchdog said Monday that it has slapped a combined 58 million won ($50,000) in fines on three affiliates of retail giant Shinsegae Group for regulatory filing violations.Shinsegae Inc., Shinsegae Food Inc. and E-Mart Inc. were penalized for not properly reporting group owner Lee Myung-hee's shareholding to authorities, according to the Fair Trade Commission. Logo of Shinsegae (Yonhap)Lee had held less than a 1 percent stake in each of the three companies under the name o
March 6, 2017
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Nearly 8 out of 10 Korean firms expect rise in shipments to Japan
Nearly eight out of every 10 South Korean businesses in Japan expect their annual sales to increase this year, a survey showed Monday, signaling a possible turnaround from five consecutive years of drop in the country's overall exports to Japan.In the survey conducted by the Korea International Trade Association, 76 percent of 80 South Korean firms operating in Japan said they expect their sales to rise this year from a year earlier. Containers waiting for shipment at a South Korean seaport. (Yo
March 6, 2017
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Lotte holds meeting to discuss countermeasures against THAAD fallout
Lotte Group held an emergency meeting on Sunday to discuss countermeasures against what appears to be intensifying retaliation by China against its goods and affiliates after its land swap deal with the government for a planned THAAD deployment, its officials said.The meeting, which was held later in the day, came as Lotte is feared to be taking the brunt of Beijing’s retaliation against the THAAD deployment for which it recently provided a land site in a contract signed late last month with the
March 5, 2017
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SK Hynix may join hands with Foxconn for Toshiba bid
South Korea’s chipmaker SK Hynix may join hands with Taiwanese tech giant Foxconn to acquire a chip unit of Toshiba, industry watchers said. Toshiba could sell 100 percent of its chip unit to offset the massive loss at its US nuclear power plant construction business -- instead of the initial plan of selling a 19.9 percent stake, according to Nikkei Asian Review. This may reap a profit of more than $8.7 billion from the sale.This has made things trickier for SK Hynix, whose cash assets are far f
March 5, 2017
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UN IPPC to kick off in Incheon next month
INCHEON -- The 12th International Plant Protection Convention will take place at the Songdo Convensia in Incheon from April 5-11, organizers said Sunday. The IPPC is a multilateral treaty for international cooperation in plant protection, overseen by the Food and Agricultural Organization of the United Nations. The logo of IPCC (IPCC)The annual convention makes provisions for measures by governments to protect their plants from harmful pests that may be introduced through international trade, ac
March 5, 2017
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Korean companies brace for impact of THAAD spat
Korean companies are bracing to take hits from Beijing and Chinese consumers as repercussions of Seoul’s decision to install an American anti-missile system here begin to take shape both in China and in Korea.Beijing has been ramping up retaliatory measures against Korea, especially since Lotte Group decided to sign a land swap deal with the Defense Ministry to provide land for the Terminal High Altitude Area Defense System here last week. The moves, including an unofficial travel ban to Korea a
March 5, 2017
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[KOSDAQ Star] Time-honored Commax rides IoT boom
Commax, a developer of home automation systems, was recently named one of the six “time-honored” companies by the state-run Small and Medium Business Administration for maintaining its business for 49 years in the country where the average business life cycle for small and medium manufacturers is only 11 years.The SMBA said while the US has 12,780 companies that are more than 100 years old, South Korea has only seven.Among companies with more than 45 years of business history, the organization p
March 5, 2017