Most Popular
-
1
Slew of top K-pop stars ready to return from military
-
2
S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
-
3
Military aircraft evacuating S. Koreans in Lebanon returns home
-
4
Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
-
5
BTS-themed moon jar to be unveiled on Hangeul Day
-
6
Samsung unveils 'personalized AI' for all devices
-
7
Market uncertain on Korea's October rate cut despite slowed inflation
-
8
1,430 minors investigated for drug offenses from 2018 to 2023: police
-
9
Special counsel bill to probe first lady scrapped
-
10
Coldplay to celebrate release ‘Moon Music’ with Han River drone show
-
Hyosung heir meets Vietnamese PM for cooperation
Hyosung Group President Cho Hyun-joon met Vietnamese Prime Minister Nguyen Xuan Phuc last week to seek business opportunities in the Southeast Asian country’s infrastructure projects, the company said Monday. Hyosung Group President Cho Hyun-joon (left) poses with Vietnamese Prime Minister Nguyen Xuan Phuc after a meeting in Hanoi. (Hyosung Group)The South Korean textile giant has been eyeing construction and financial projects overseas as part of its efforts to diversify its business portfolio.
Dec. 1, 2016
-
Hanwha chief meets Virginia governor
Hanwha Group Chairman Kim Seung-youn met Virginia Gov. Terry McAuliffe on Wednesday to strengthen business cooperation between the company and the US state, the group said in a statement.Hanwha Group Chairman Kim Seung-youn shakes hands with Virginia Gov. Terry McAuliffe after a meeting in Seoul, Wednesday. (Hanwha Group)At a meeting held at Hanwha’s Seoul office, the two exchanged their views on the company’s ongoing business operation in Virginia and also the prospects of the diplomatic and ec
Dec. 1, 2016
-
KITA chief urges end to cozy corporate-state ties
Kim In-ho, chairman and CEO of the Korea International Trade Association, on Monday urged the government to end its cozy ties with businesses, amid intensifying allegations that President Park Geun-hye lobbied chaebol leaders.Asked of his view on the scandal involving Park and her longtime friend Choi Soon-sil, Kim said he believes that the time is ripe to end such practices, taking this as an opportunity to shift to a completely free market economy. “The current government is not the only one.
Dec. 1, 2016
-
3 shipyards face 2.2 tln-won corporate debt due next year
South Korea's major shipyards have to pay off or refinance a combined 2.22 trillion won ($1.89 billion) worth of corporate bonds due next year amid concerns over their worsening financial status, industry sources said Thursday.According to the sources, Daewoo Shipbuilding & Marine Engineering Co., one of the country's big three shipyards, faces a total of 940 billion won worth of corporate debts due next year.The shipyard holds cash and cash equivalent assets totaling 749 billion won, stoking wo
Dec. 1, 2016
-
Fewer firms subject to strict antitrust laws in Nov.
The number of South Korean business groups' affiliates subjected to restrictions on mutual investments and loan guarantees fell slightly last month from a year earlier, the antitrust watchdog said Thursday.The Fair Trade Commission (FTC) said the number of firms on its monthly watch list stood at 1,127 as of end-November, down one from the previous month.The affiliates are owned by the country's 27 largest business groups, including Samsung Group and Hyundai Motor Group.Seven business groups, in
Dec. 1, 2016
-
Industrial output declines amid increased downward risks
Korea’s Industrial output fell for the second consecutive month in October, falling 0.4 percent from the previous month, data released by Statistics Korea showed Wednesday. Sluggish demand and exports for mobile phones and automobiles dragged down the production index, according to the statistics agency. Finance Minister Yoo Il-ho, who is also deputy prime minister, warned of the increased downward risks of Korea’s economy during a meeting of economic policymakers Wednesday. &ldqu
Nov. 30, 2016
-
Conglomerates begin executive reshuffle
South Korean conglomerates have started to carry out their annual reshuffles of executives this week, while they try to remain low-profile amid the ongoing prosecutors’ investigation into alleged corporate lobbying involving the South Korean president.The reshuffles started with GS Group on Tuesday, and LG Group is likely to implement changes in executive positions later this week. Samsung Group, meanwhile, has postponed their announcement to mid-December, breaking its tradition of delivering th
Nov. 30, 2016
-
[HERALD INTERVIEW] ‘Investors hold key to sustainable real estate’
Amid tightening energy efficiency regulations for buildings around the globe, it is essential for institutional investors to consider the level of sustainability of their real estate portfolios, said the Asia-Pacific head of a global real estate assessment agency.“More and more countries are strengthening the sustainability rules for real estate. And it is impossible to ignore the sustainability aspect of the buildings when thinking of the future value of the buildings,” Ruben Langbroek, head of
Nov. 30, 2016
-
Flower vending machine installed in southern Seoul
A state-run agricultural agency said Wednesday that it has installed an automatic flower vending machine in Seoul in an effort to boost the local floral industry.The machine, which sells preserved flowers, is installed at the head office of the Korea Agro-Fisheries and Food Trade Corporation (aT) in southern Seoul, officials said.Flowers are kept cold to preserve freshness and to guarantee the best quality, they said, noting that the flowers can keep for up to three years."Customers can easily p
Nov. 30, 2016
-
Prosecutors demand 20 year imprisonment for ex-Oxy CEO
South Korean prosecutors on Tuesday sought 20 years in prison for former Oxy Reckitt Benckiser Korea CEO Shin Hyun-woo, and 10 years for John Lee, another former CEO of the company, for failing to confirm toxic materials in Oxy humidifier disinfectants responsible for at least 73 deaths.Shin and Lee are on trial for manufacturing and selling toxic humidifier sterilizers, on sale from 2000, that contain a toxic chemical called polyhexamethylene guanidine, without conducting safety tests. “They de
Nov. 30, 2016
-
Foreign shippers gain market shares after bankruptcy of Hanjin Shipping
Foreign shippers have increased their market shares in major global shipping routes following the bankruptcy of Hanjin Shipping Co., defying expectations that its Korean peer Hyundai Merchant Marine Co. would secure a chunk of Hanjin's share, data showed Wednesday. Hanjin accounted for 7.78 percent of the Asia-US shipping route in October last year, but its share plunged to 1.1 percent in October this year, according to the data by the Busan Port Authority. The data showed the vacuum created fro
Nov. 30, 2016
-
SM may ask Hyundai Merchant to jointly acquire Hanjin's US terminal
SM Group is looking for a partner in its plan to buy Hanjin Shipping Co.'s 54-percent stake in a port terminal on the US West Coast, an acquisition estimated at more than 400 billion won ($342.5 million), according to industry sources Wednesday.SM Group, which owns South Korea's No. 2 bulk carrier Korea Line Corp., has been seeking to buy a partial stake in the port terminal in Long Beach, California, after acquiring the troubled shipper's US-Asia route and other assets for 37 billion won last w
Nov. 30, 2016
-
Elliott describes Samsung's overhaul plan as 'constructive'
US hedge fund Elliott Management said Wednesday that Samsung Electronics Co.'s decision to consider shifting to a holding company structure and boost dividend payouts was "a constructive initial step" but hinted it wants "more meaningful changes."Shares of Samsung climbed a day after its announcement of governance overhaul decisions, which include a review of the possibility of creating a holding company structure, a 30 percent increase in dividends and an appointment of an independent director
Nov. 30, 2016
-
Coffee companies tie cultural promotions to their business
Coffee companies are engaging in cultural promotions as a way of improving their brand image with customers through hosting mini concerts and art exhibitions.Dongsuh Food, famous for its instant coffee mix brand Maxim, recently hosted its latest classical music concert in the southwestern city of Jeonju on Nov. 2. The company began the "Dongsuh Coffee Classic" series in 2008 as a cultural sharing event and to help promote the music genre in the country. The concert has toured throughout the nati
Nov. 30, 2016
-
Drug companies make changes to hangover remedies to gain customers
Pharmaceutical companies are diversifying hangover remedies to cater better to customers, especially foreigners, creating new products in different packaging, industry officials said Wednesday.Handok succeeded in grabbing Chinese customers with its Ready Q Chew, the only jelly-type hangover remedy in the local market, where most of the products are bottled drinks. "Ready Q Chew spread through the word of mouth among Chinese tourists, and its sales this year leaped about 970 percent this year fr
Nov. 30, 2016
-
Convenience stores become biggest seller of alcohol drinks
Convenience stores have become the largest market for selling alcohol drinks, a market report showed Wednesday, apparently due to more people choosing to drink alone or with their families.The retail index provided by information analysis firm Nielsen Korea said convenience stores ousted discount chains to become the biggest seller of alcohol for the first time in the first half of this year.Sales increased across the board at convenience stores compared with previous years. For low alcohol cont
Nov. 30, 2016
-
KFS strives to boost export of forest products
The Korea Forest Service is striving to boost exports of forest products through various support programs amid the sluggish global economy As of August this year, exports of forest products reached $260 million, showing little on-year improvement. Exports of wood and stone products rose by 4.5 percent and 32.4 percent, respectively, while short-term forest products such as mushrooms and potted plants dropped by nearly 20 percent. The drought during summer had led to a drop of production and a ri
Nov. 29, 2016
-
[FROM THE SCENE] East Asia gears up for next industrial revolution
The Korea Herald is publishing a series of articles on the moves made by the companies and governments of South Korea, China and Japan in entering the new industry 4.0 era. This is the first installment. -- Ed. Beijing’s InnoWay, Osaka’s Knowledge Capital and Pangyo’s Gyeonggi Center for Creative Economy and Innovation are hotbeds of innovation in East Asia. These sites are where Korea, China and Japan are pinning their hopes for the fourth major upheaval in manufacturin
Nov. 29, 2016
-
Samsung to announce probe results of fire-prone Galaxy Note 7 within the year
[THE INVESTOR] Samsung Electronics is expected to announce the final results of its probe into the fire-prone Galaxy Note 7 within the year, industry sources said on Nov. 29.On Nov. 11, the Korean tech giant launched a new round of investigation to find out the cause of several fires and explosions related to the bigger-screen phone together with product safety authorities and experts both in Korea and the US. Right after the first recall issued in September, the company pinpointed faulty batter
Nov. 29, 2016
-
S. Korea to ban sales of Nissan, BMW, Porsche vehicles over fabricated reports
The South Korean government said Tuesday it will ban sales of six models by three foreign automakers, accusing them of fabricating reports to win sales approval from the local government.The Ministry of Environment said it detected defects in the certification documents of 10 vehicle models from the local units of Nissan, BMW and Porsche.Among them, six models -- the Infinity Q50 and Qashqai from Nissan, the X5M from BMW and the Macan S Diesel, Cayenne S E-Hybrid and Cayenne Turbo from Porsche -
Nov. 29, 2016