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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Samsung mulling appliance plant in the US
Samsung Electronics is reviewing building a home appliance plant in the US in response to US President-elect Donald Trump’s protectionist policies, the tech firm said Monday. “It is true we are considering the establishment of an appliance factory in the US. It is natural that an enterprise responds accordingly when a client nation’s policy changes,” a Samsung Electronics official told The Korea Herald. “Nothing has been confirmed yet.” (Yonhap)North America is currently Samsung’s largest home a
Jan. 9, 2017
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Swifter bans proposed for imported food with safety risks
South Korea’s Ministry of Food and Drug Safety is looking to push forth this year a set of new regulations governing the safety of food and drug imports, the medical use and distribution of sedative drugs and compensation for side effects caused by pharmaceutical products.The ministry said that it officially reported the details of its 2017 agenda to Prime Minister and acting President Hwang Kyo-ahn at Sejong City on Monday.In terms of imported foods and pharmaceutical products, the ministry wil
Jan. 9, 2017
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Foreign, local firms vie for web-based broadcasting market in Korea
South Korea's mobile carriers and foreign technology firms are vying for the nation's growing market for Internet-based broadcasting services as people spend more time on their smartphones watching TV shows and movies.While the so-called over-the-top content broadcasting, which delivers video and other content via the Internet, is growing, some analysts say there is a long way to go before people embrace paid Internet broadcasting services.Following the entry by an Internet TV network Netflix in
Jan. 9, 2017
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Brokerages shedding jobs amid growing popularity of mobile trading
The number of jobs at South Korea's securities firms has markedly declined in recent years amid the growing popularity of mobile stock trading, data showed Monday.Brisk M&As are another culprit in the reduction of jobs in the industry. An image of job cuts at South Korean securities firms in a file photo provided by Yonhap News TV. (Yonhap)The number of employees at local brokerage firms stood at 35,920 as of end-September in 2016, down 5,302 or 13 percent, from 41,222 recorded three years earli
Jan. 9, 2017
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Korea's auto output slips to world’s sixth-largest in 2016
South Korea's local automobile output dropped significantly from a year earlier in 2016, also slipping a notch to the world's sixth-largest producer of cars, industry data showed Monday.According to the data from the Korea Automobile Manufacturers Association, five South Korea-based automakers produced a combined total of 4,228,536 vehicles in 2016, down 7.2 percent from 4,555,957 units the previous year.The drop was largely attributed to missed production suffered by the leading automaker Hyund
Jan. 9, 2017
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Overseas construction orders fall to 10-yr low in 2016
South Korea's overseas construction orders dipped to a 10-year low last year, due partly to low global oil prices that led to a sharp drop in orders placed by oil-producing countries in the Middle East, market data showed Monday.In 2016, overseas construction orders clinched by South Korean builders amounted to some $28.19 billion, the lowest since $16.47 billion posted in 2006, according to the data compiled by the International Contractors Association of Korea.From a year earlier, the 2016 tal
Jan. 9, 2017
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Doosan Bobcat ready to bask in US infrastructure spending
Doosan Bobcat Inc., a construction equipment unit of Doosan Group, is forecast to earn solid earnings this year on the back of the incoming US government's massive infrastructure spending, analysts said Monday.Doosan Bobcat made a strong market debut on the local stock market in mid-November by raising some 900 billion won ($748 million) through an IPO, the second-largest IPO deal after Samsung BioLogics Co.'s 2.2 trillion-won market debut.In 2007, Doosan Infracore acquired Bobcat and other cons
Jan. 9, 2017
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Korea to ease visa screening of foreign workers in manufacturing
South Korea will ease regulations on visa screening procedures for young foreigners who get jobs at selected manufacturing businesses in a way to tackle the labor shortage, the government said Monday.Foreign students who are studying in South Korea and want to work in the country's "root" industries such as molding, welding and minting will have their student visa converted into a special working permit, according to the Ministry of Trade, Industry and Energy.Such linchpin industries have been s
Jan. 9, 2017
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Korean drugmakers seek opportunities at JPMorgan Healthcare Conference
In search of new partnerships, foreign investment and promotional opportunities, South Korea’s top biopharmaceutical companies will partake in the 35th J.P. Morgan Healthcare Conference, which kicks off Monday in San Francisco. The annual four-day event is the world’s largest and oldest health care symposium. It brings together the world's leading pharmaceutical companies and investors to discuss the latest industry trends and seek out new drug candidates and technologies.(123RF)In Korea, the co
Jan. 8, 2017
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Volkswagen Korea exec gets 18-month term over emissions scandal
An executive at the local unit of Volkswagen was sentenced to a year and a half in prison Friday on charges of fabricating reports that came to light following the German carmaker's emissions scandal.The Seoul Central District Court found the executive, identified only by his surname Yoon, guilty of a string of charges, including forging documents and breaking the country's Clean Air Conservation Act. Yoon is the local unit's executive in charge of the vehicle certification process.This photo sh
Jan. 6, 2017
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LG Electronics to swing to red in Q4, misses expectations
LG Electronics Inc. forecast Friday that it is likely to have returned to the red in the fourth quarter of last year, indicating that its money-losing smartphone business appears to have continued to crumble. LG said it expects an operating loss of 35.3 billion won ($29.6 million) for the October-December quarter last year, compared with a profit of 348.9 billion won for the same quarter in 2015. It would be LG's first quarterly operating loss since the third quarter of 2011, when it reported a
Jan. 6, 2017
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KT chairman willing to serve another term
The nation’s second-largest mobile carrier KT said Friday its incumbent chairman has officially announced he is willing to serve a second term after his three-year tenure. “Chairman Hwang Chang-kyu officially informed (the company of) his intention of serving another term to a committee that recommends the CEO. The committee plans to review Hwang’s qualifications based on screening standards,” KT said in its statement. KT Chairman Hwang Chang-kyu (KT)The committee -- which comprises of seven in
Jan. 6, 2017
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[CES 2017] Mayfield Robotics presents home robot ‘Kuri’
American startup Mayfield Robotics, backed by Bosch, has introduced its latest creation, Kuri -- a home robot with personality.While the annual Consumer Electronics Show in Las Vegas is no stranger to innovative robot technology, Kuri’s cute features and unique character traits drew buzz at this year’s show. Bosch executive Werner Struth talks about the new home-interactive and voice-activated robot Kuri at the Consumer Electronics Show 2017 at the Las Vegas Convention Center in Las Vegas, Nevad
Jan. 6, 2017
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Cho Won-tae named president of Korean Air
Hanjin Group announced Friday that it has named Cho Won-tae president of its airline Korean Air, with effect from Wednesday. Cho, the son of Cho Yang-ho, Hanjin Group’s chairman, was promoted from executive vice president and chief operating officer to president and COO. He was one of 53 executives promoted or newly named by the group. Chi Chang-hoon, the current president and COO of Korean Air, will serve as a senior adviser to the company for the next year. Cho Won-tae (Hanjin Group)According
Jan. 6, 2017
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Shipbuilders' order backlog hits over 13-year low
The order backlog held by South Korean shipyards fell to the lowest level in over 13 years in December amid a protracted slump in the global shipbuilding sector, industry data showed Friday.According to the data compiled by global research firm Clarkson Research Services, the shipbuilding order backlog held by Hyundai Heavy Industries Co. and its other local rivals stood at 19.89 million compensated gross tons as of end-December, the lowest since June 2003, when the comparable figure was 19.14
Jan. 6, 2017
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Samsung estimates highest Q4 operating profit in three years
Samsung Electronics said Friday its preliminary operating profit seems to have reached a three-year high in the fourth quarter of last year on strong chip and display sales, offsetting the Note 7 debacle. The company said it expects to post 53 trillion won ($44 billion) in sales and 9.2 trillion won in operating profit for the period from September to December, 10.8 percent and 76.9 percent higher, respectively, than the previous quarter. “(The highest quarterly profit) comes from rising DRAM pr
Jan. 6, 2017
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Korea aims for $10b in agriculture exports in 2017
South Korea will achieve $10 billion in exports of agricultural products in 2017 through fostering high quality and salable food products for foreign consumers, the ministry here said Friday.In its annual policy plan reported to Acting President Hwang Kyo-ahn, the Ministry of Agriculture, Food and Rural Affairs said exports of farm products are expected to reach $7 billion this year, up from $6.5 billion tallied in 2016.South Korea's Agriculture Minister Kim Jae-soo speaks at a press conference
Jan. 6, 2017
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State-backed ship financing firm to be launched this month
A state-backed ship financing firm will be established this month with initial capital of 1 trillion won ($845 million) to help jack up the financial status of local shipping firms, a ministry said Friday.Under the plan, the firm will be given a total of 6.5 trillion won to help local shipping firms buy new vessels, the Ministry of Oceans and Fisheries said in its policy report to Acting President and Prime Minister Hwang Kyo-ahn.The measures aim to support local shipping firms, as well as shipb
Jan. 6, 2017
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Avg. age of workers at SMEs growing as younger generation opts out
The average age of workers at small and mid-sized businesses is rising as the younger generation seeks jobs at bigger conglomerates for better pay and stability, a survey showed Friday.A study carried out from May to September last year on 8,000 SMEs said 25.6 percent of their workforces were aged 50 and over in 2015. The same study, conducted jointly by the Small and Medium Business Administration and the Korea Federation of SMEs, showed 4.1 percent of the workers were 60 or older.The results i
Jan. 6, 2017
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SM6 crowned ‘Car of the Year 2017’
Renault Samsung Motors’ midsize sedan SM6 was named “Car of the Year” and nominated for “Design of the Year” by the Korea Automobile Journalist Association. (Renault Samsung Motors)Renault Samsung Motors’ midsize sedan SM6 was crowned “Car of the Year” at an awards ceremony hosted by a local auto journalists’ association, the automaker said Thursday. At this year’s awards, the SM6 was nominated for Car of the Year for the second consecutive year along with “Design of the Year” by the Korea Autom
Jan. 5, 2017