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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Special counsel bill to probe first lady scrapped
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[Robert Fouser] Why the US election looks so close
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Posco seeking new growth engine for next 50 years
Ahead of its 50th anniversary next year, Posco is seeking to make a second leap forward by securing a new growth engine and keeping its global reputation as the world’s fourth-largest steelmaker at the same time, the company said Tuesday.Despite an unfavorable market environment fueled by the growing fears over trade protectionism and oversupplies of steel products worldwide, the South Korean company posted an operating profit of 2.63 trillion won ($2.3 billion) last year, an 18 percent increase
Feb. 21, 2017
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Hyundai Motor sets up new tech R&D lab
Seeking to secure new areas of growth, Hyundai Motor, the nation’s largest carmaker has launched an in-house research institute to foster future technologies, the company said Tuesday.A Hyundai Motor engineer tests a wearable robot. (Hyundai Motor)The lab, named the Strategic Technology Research Institute, will focus on industries that are expected to expand long-term, such as robotics, artificial intelligence, new materials, the sharing economy and information and communications technology. The
Feb. 21, 2017
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[Herald Interview] ‘Seoul needs trust-building mechanism more than anything’
Michael BerkowitzWhat Seoul needs more than anything to become a resilient city is people’s trust in the government, said Michael Berkowitz, president of 100 Resilient Cities under the Rockefeller Foundation. “Building trust in the government is an important part of building a resilient city,” he said in an interview with The Korea Herald on Monday. The president took Hurricane Katrina-hit New Orleans in 2005 as an example of people not believing in the state government due to corruption. “When
Feb. 21, 2017
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GS25 partners with Beyond, expanding into cosmetics
Convenience store chain GS25 said Tuesday that it has partnered with LG Household & Health Care’s cosmetics brand Beyond, looking to expand its sales by setting up a new cosmetics category.The two companies said they agreed to the launch after seeing growth potential in cosmetics sold through convenience stores. GS25’s sales in the personal care category have been rising steadily, with a 10.3 percent on-year rise in 2014, 16.9 percent rise in 2015 and 19.7 percent in 2016.“We have existing perso
Feb. 21, 2017
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NGO, Kookmin offer psychological counseling for needy children
The Korean Open Doctors Society, a non-governmental organization in Seoul, and KB Kookmin Bank have launched a joint psychological counseling and therapy program for children from low-income families. The charity organization said its psychological experts will visit some 20 children's community centers across the country in the four-month program that started Monday. A staffer from the Korean Open Doctors Society leads a psychological play therapy program at a local children's community center
Feb. 21, 2017
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Govt. to pay W1.5tr in subsidies to rice farmers
The South Korean government will pay nearly 1.5 trillion won ($1.3 billion) in subsidies to rice farmers this year as compensation for falling prices, the agriculture ministry said Tuesday.Under the law designed to protect the local rice industry, the government gives rice farmers the difference between the target price of rice and the actual market price. (Yonhap)For 2017, the target price was 188,000 won for an 80-kilogram sack of rice, with the market price remaining at 129,915 won.The Minist
Feb. 21, 2017
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Half of Korean firms plan to hire older workers in 2017
More than half of South Korean companies have plans to hire older, experienced workers this year, partly for their expertise but also for their ability to interact and lead others with less experience, a survey showed Tuesday.In a recent survey conducted by the Federation of Korean Industries, 54.7 percent of 1,026 small and medium-sized firms polled said they had plans to hire new employees aged 40 years or older. Dozens of job seekers fill out job applications at a job fair for older, experien
Feb. 21, 2017
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Some 'nondescript' foreign items popular among Koreans
Several high-priced foreign goods are extremely popular among South Koreans though they are almost unknown to consumers in the producing countries, industry sources said Tuesday.One of them is a tableware set made by Portuguese kitchenware maker Cutipol. South Korean housewives are smitten with the set that includes a spoon, fork, knife and chopsticks with a price tag of 80,000 won ($69.80). The camphore cutting block (Yonhap)It has emerged as a must-buy item among newly-wed couples in South Kor
Feb. 21, 2017
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Sales of Samsung's premium laptop computers exceed 100,000 units this year
Sales of Samsung Electronics Co.'s premium Notebook 9 line of laptop computers have surpassed 100,000 units so far this year, industry data showed Tuesday. Samsung unveiled the new version of premium laptop computers in December last year, featuring enhanced connectivity and longer battery life. Samsung Electronics Co.'s Notebook 9 (Yonhap file photo)During the first 50 days of this year, cumulative sales of the laptop computers in South Korea exceeded 100,000 units, according to the data. Sams
Feb. 21, 2017
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Hermes bags are talk of town amid nation-rocking scandal
Hermes handbags, despite their international reputation as an elegant luxury brand, are adding bitterness to their cachet in South Korea as they have been used as a "popular" item for bribes in high-profile political scandals. Industry sources have widely suspected that either a Birkin bag or Kelly bag, two signature items made by the French manufacturer, were probably given to the wife of a former presidential secretary by an acquaintance of President Park Geun-hye's close friend, as kickbacks
Feb. 21, 2017
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Korea eyes exports of signature green tea
South Korea is pushing to export its most famous organic green tea brand to tap fast growing markets in the United States and other countries, officials said Tuesday.The Ministry of Agriculture, Food and Rural Affairs said it signed a contract with Handong County on the south coast and tea exporter Vision Korea Corp. on exports of "Hadong organic green tea." (Yonhap)Under the contract, the county, which accounts for half the country's organic green tea output, will create a 482-hectare cultivati
Feb. 21, 2017
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Hyundai Heavy bags order to build 2 oil tankers
Hyundai Heavy Industries Co., a major shipyard in South Korea, has received an order to build two oil tankers, industry sources said Tuesday.Under the deal with a Greek shipowner, Hyundai Heavy will build two very large crude carriers with 320,000 DWT by the end of 2018, the sources said, adding that the two sides have been in negotiations since January this year. (Yonhap)The value of the deal and other terms were not revealed, but an oil tanker with such a capacity is roughly priced at $82 mill
Feb. 21, 2017
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Govt. to encourage public firms to increase dividend payouts
The South Korean government said Tuesday that it will revise its performance evaluation criteria for state-run companies in a way to encourage them to increase dividend payouts.Their dividend payout ratio, referring to a percentage of earnings paid to shareholders in dividends, will be reflected in the government's annual business performance evaluation for state-run companies, according to the Ministry of Strategy and Finance. (Yonhap)All 321 public agencies, including the Korea Electric Power
Feb. 21, 2017
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[News Analysis] Samsung's defense against widened allegations
Special investigators last week used fresh evidence to find their way through Samsung Group’s de facto leader Lee Jae-yong’ legal defense and arrest him on suspicion of bribery, embezzlement and perjury.The approval came a month after a district court had rejected the special prosecutors’ request to arrest him, citing a lack of evidence of Lee’s involvement in the scandal. Lee Jae-yong, vice chairman of Samsung Electronics Co., leaves the special prosecutor's office in southern Seoul on Feb. 20,
Feb. 20, 2017
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What smartphones mean to LG
LG Electronics is sometimes incessantly posed questions from outsiders as to why it holds on -- so fervently -- to its money-losing smartphone business. For the tech giant, smartphones are more than just a number, they are key to the new mobility era.However, the books look far from rosy. LG Electronics’ handset unit has suffered operating losses for seven straight quarters, with a cumulative operating loss of 1.2 trillion won ($1.05 billion) last year alone.Experts say the situation may not tur
Feb. 20, 2017
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Samsung’s reputation drops to No. 49 in the US: survey
Samsung’s reputation in the US slid to No. 49, marking the biggest drop in the recent years, a survey showed Monday. According to 2017 Reputation Quotient Ratings by Harris Poll, Samsung ranked No. 49 among 100 corporates surveyed. The firm’s reputation quotient fell 46 spots compared to 2015 when it ranked No. 3 and topped Apple and Google. Samsung came in at seventh place last year and has secured a spot in the top 10 in the last three years. (Yonhap)The Harris Poll Reputation Quotient measure
Feb. 20, 2017
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Posco expands electrical steel production
South Korea’s top steelmaker Posco held a ceremony to mark the increased capacity of its steel mill for the production of high-end Hyper No, a grain-oriented electrical steel, the firm said Monday. Posco Chairman Kwon Oh-joon (sixth from left) attends a ceremony held in Pohang, North Gyeongsang Province, Monday. (Posco)The ceremony took place at the company’s steel mill in Pohang, North Gyeongsang Province, and was attended by some 100 related officials including Posco Chairman Kwon Oh-joon. The
Feb. 20, 2017
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Hyundai Heavy remains in 3rd spot in order backlog
Hyundai Heavy Industries, a major shipyard in South Korea, maintained its status as the third-largest player in order backlog in January, after being relegated to the spot the previous month, industry data showed Monday.According to the data compiled by global research firm Clarkson Research Services, Daewoo Shipbuilding & Marine Engineering, another South Korean shipbuilder, ranked first in terms of order backlog as of January with 6.6 million compensated gross tons to build 99 ships, followed
Feb. 20, 2017
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[Photo News] Diageo promotes responsible drinking
DRINK RESPONSIBLY -- Premium alcoholic beverages company Diageo said Monday it will be holding lectures on responsible drinking called “DrinkiQ” for college freshmen at nine universities nationwide through mid-March. The lecture series, which includes tips for a more responsible drinking culture, has been hosted by Diageo since 2009. Pictured is Diageo Korea Director Lee Deok-won giving a DrinkiQ lecture at Hankuk University of Foreign Studies, Global Campus on Sunday. (Diageo Korea)
Feb. 20, 2017
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Asiana Airlines’ website hacked, briefly defaced
The website of Korea’s second-largest carrier was hacked early Monday morning, temporarily sending users to a different webpage.According to Asiana Airlines, its website flyasiana.com suffered a Domain Name System attack around 4:35 a.m. on Monday. Users who attempted to access the site were sent to an image screen depicting men in masks and a hateful message about the feud between Serbians and Albanians, as well as the Newborn Monument in Pristina, Kosovo, which was created to commemorate Kosov
Feb. 20, 2017