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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Samsung unveils 'personalized AI' for all devices
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Market uncertain on Korea's October rate cut despite slowed inflation
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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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Coldplay to celebrate release ‘Moon Music’ with Han River drone show
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Whisky makers compete over low-alcohol whiskies
Whisky makers are competing against each other in low-alcohol whiskies amid a new trend in liquor consumption among South Koreans.Golden Blue, a homegrown whisky released in 2009 by a fledgling Korean distiller based in the southeastern port city of Busan, said it plans to release Phantom The Original, a whisky with 35 percent alcohol, on Friday.Low-alcohol whiskies have gained ground in South Korea since late 2009, when the local distiller released Golden Blue with 36.5 percent alcohol content.
Oct. 27, 2016
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[ADVERTISING AWARDS] IFEZ turns Incheon into global city
By Kim Hee-jong Director of Public Relations Division at Incheon Free Economic Zone Since Incheon was designated as the country’s first free economic zone in 2003, it has made huge leeway in transforming the city into a top free economic zone. To date foreign direct investment in the Incheon Free Economic Zone has reached $9.5 billion and 12 international institutions have offices in the city, including the Green Climate Fund, World Bank Korea and the Association of World Election Bodies. Recent
Oct. 27, 2016
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[ADVERTISING AWARDS] SK Broadband prioritizes customer value, happiness
By An Weon-gyuHead of marketing strategy HQ at SK BroadbandI would like to begin by expressing gratitude to the Advertising Awards hosted by The Korea Herald and congratulating fellow award winners.As a company that puts customer value at the top of its agenda, SK Broadband is doing its best to bring happiness and value to customers in the age of technological convergence. An Weon-gyu, Head of marketing strategy HQ at SK BroadbandIn 1991, SK Broadband was the first to commercialize the high-spee
Oct. 27, 2016
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[Super Rich] Korean toymakers ready to leap forward
Korea’s top two toymakers are poised to take a leap forward to rake in profits at home and abroad.Korea’s No.1 toymaker Sonokong recently handed over a majority stake to global toy magnate Mattel -- which makes Barbie dolls -- in a strategic move to sell its toys overseas. Sonokong Chairman Choi Shin-kyuSonokong announced on Oct. 10 that the American toy giant’s affiliate Mattel Marketing Holdings had acquired an 11.99 percent stake in the company for 13.97 billion won ($12.57 million). Sonokong
Oct. 27, 2016
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Posco E&C wins first place for best apartment
Posco Engineering & Construction, a construction arm of Korea’s largest steelmaker, topped this year’s Korea Standard-Quality Excellence Index, the company said Thursday.The firm has won the best apartment sector award for eight consecutive years since 2009.Posco Construction & Engineering won the best apartment sector award at this year’s Korea Standard-Quality Excellence Index. (Posco Construction & Engineering)As part of efforts to offer differentiated high quality services to residents of th
Oct. 27, 2016
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Duty-free sales down 2.52% in Sept.
Sales at South Korean duty-free stores fell 2.52 percent in September from a month earlier as the number of customers dropped, data showed Thursday.Sales reached $943.58 million in September, compared to $967.93 million the previous month, according to data compiled by the Korean Duty Free Association.It said the number of people who visited duty-free stores stood at 4.16 million in September, down 6.7 percent from a month earlier.Still, sales at local duty-free stores rose 36.4 percent in the f
Oct. 27, 2016
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Scion Lee joins board of Samsung Electronics
Shareholders of Samsung Electronics Co. on Thursday approved the nomination of Vice Chairman Lee Jae-yong to the electronics giant's board of directors. The approval enables the 48-year-old Lee, the only son of the ailing Samsung Electronics Chairman Lee Kun-hee, to more actively participate and take formal responsibility in the company's important decision-making, Samsung said in a statement. (Yonhap)Another Samsung vice chairman, Kwon Oh-hyun, said the approval was met "with applause" as most
Oct. 27, 2016
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Korea's int'l air passenger traffic jumps 22% in Sept.
South Korea's air passenger traffic surged from a year earlier in September with both international and domestic passengers continuing to increase, the government said Thursday.The number of international air passengers to and from the country spiked 21.7 percent on-year to over 5.99 million last month, with the number of domestic air passengers gaining 8.4 percent to 2.62 million, according to the Ministry of Land, Infrastructure and Transport.Overall air passenger traffic jumped 17.3 percent t
Oct. 27, 2016
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S-Oil swings to black in Q3
S-Oil Corp., the third-largest oil refiner in South Korea, said Thursday it swung to the black in the third quarter from a year earlier thanks to higher oil prices.Net profit reached 172 billion won ($151 million) in the July-September period, compared to a loss of 44 billion won a year earlier, the company said in a regulatory filing.Operating income surged to 116 billion won in the third quarter, from a year earlier.But sales dipped 6.5 percent on-year to reach 4.14 trillion won over the cited
Oct. 27, 2016
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Korea's air traffic surges 15.2% on-year in Q3
South Korea's air traffic soared from a year earlier in the third quarter on a sharp increase in international flights to and from the country, the government said Thursday.In the July-September period, the country's overall air traffic came to 192,913 flights, up 15.2 percent from the same period last year, according to the Ministry of Land, Infrastructure and Transport. The increase was largely attributed to a steep rise in the number of international flights to and from the country.In the thr
Oct. 27, 2016
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Changes loom as Samsung’s crown-prince takes center stage
Lee Jae-yong, vice chairman of Samsung Electronics, is set to join the boardroom responsible for the management of the South Korean tech giant after a shareholders’ vote Thursday morning. Shareholders attending the meeting scheduled to be held at 10 a.m. in Seoul will be asked to vote on appointing Lee, the only son of Samsung chairman Lee Kun-hee, by a show of hands. The bill is expected to be passed smoothly, as the majority of investors in and out of the country have already expressed their a
Oct. 26, 2016
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SK seeks Walkerhill boost with new duty-free store
SK Networks recently unveiled plans to transform its flagship Walkerhill Hotel into a must-visit tourist location as the firm seeks to reclaim a government license to reopen its duty-free shop at the hotel. Last May, SK was forced to close its duty-free shop after 24 years of business upon losing its operational license. Now, the firm is determined to reopen its tax-free outlet by winning a highly contested bid for a new business license.“We plan to make SK Walkerhill Duty Free into an irreplace
Oct. 26, 2016
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Posco logs W1tr Q2 operating profit for first time in 4 years
Korea’s top steelmaker Posco saw a 52.4 percent rise in its operating profit which reached 1.3 trillion won ($1.1 billion) in the third quarter, exceeding 1 trillion won for the first time in four years, the company said Wednesday. Net profit also surged by 115.6 percent to reach 475 billion won while total sales recorded 12.7 trillion won, down by 0.9 percent from the previous quarter. Along with the rise in sales of high value products and cost-saving efforts, the increase in the operating pro
Oct. 26, 2016
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Fishing company succeeds in salmon farming for 1st time in Korea
A South Korean fishing company has successfully farmed salmon at a seawater cage off the east coast for the first time in the country, paving the way for the mass-production of the fish, officials at the Gangwon provincial government said Wednesday.The salmon farmer, Donghae STF, which made a shipment of salmon farmed at the cage off the coastal town of Goseong on the country's east coast this week, plans to supply 400 tons of farmed salmon to outlets of the country's major discount store chains
Oct. 26, 2016
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Design Korea 2016 aims to spread K-design
Local products with outstanding design will be displayed at this year’s Design Korea, to be held from Nov. 9, with an aim to foster the new wave of K-design, the ministry of trade, industry and energy said Wednesday.At the five-day event, goods made by some 300 Korean companies will be exhibited to offer a glimpse of the future lifestyle. Products made by local brand Hoosdesign will be displayed at Design Korea 2016, Nov. 9-13, at Kintex in Goyang, Gyeonggi Province. (HoosDesign)Displayed goods
Oct. 26, 2016
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Japanese shareholders reaffirm confidence in Lotte chairman
Japanese shareholders of a holding firm for South Korean conglomerate Lotte Group Wednesday voted in favor of keeping Lotte Group chief in his current position as he promised reform measures to restore the South Korean retail giant's image dented by a corruption investigation. Shin Dong-bin attended a meeting of Lotte Holdings shareholders at its Tokyo headquarters, one day after making a public apology and announcing a series of measures to improve the group's opaque governance structure at a p
Oct. 26, 2016
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Anti-graft law hits flower sales hard
Despite the high season, flower sales in South Korea have tumbled more than 20 percent in October from a year ago, data showed Wednesday, apparently due to the implementation of a draconian anti-corruption law.According to the data by the Korea Agro-Fisheries & Food Trade Corp., flower transactions came to 1.96 million bunches in the first 24 days of this month, down a whopping 22 percent from the same period a year earlier. A flower grower destroys unsold chrysanthemums at a farm in Yongin, Sou
Oct. 26, 2016
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Lee’s 25 years at Samsung hint at group’s future
Since joining Samsung Electronics in 1991, Lee Jae-yong has undergone trials, the latest of which is the mixed reviews on his leadership as prepares to officially enter the boardroom. After earning a Master of Business Administration at Keio University in 1995, Lee rose to the assistant vice president position of the company’s strategic planning team in 2001, where he had his first taste of control, and consequently failure. (Yonhap)Lee set up the “e-Samsung” by merging 14 software firms, believ
Oct. 25, 2016
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Samsung prepares for new era under Lee Jae-yong
Ending 25 years of a high-profile hereditary succession, Lee Jae-yong, vice chairman of Samsung Electronics, is set to reach the apex of the leadership on Thursday as he steps into the boardroom responsible for the future of the world’s largest maker of smartphones and microchips.The South Korean tech giant is holding an extraordinary meeting of shareholders at its headquarter in Seoul on Thursday to put the nomination of Lee’s board membership to vote. (Yonhap)The vote will be taken without Lee
Oct. 25, 2016
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Hyundai E&C vows to lead global construction market
Hyundai Engineering and Construction has gradually expanded investment in research and development since 2011 in an effort to lead the global construction market, the company said Tuesday. Since April 2011, the company started to expand its original technology research center and labs. This led to a 175 percent surge of R&D costs to 27.7 billion won ($24.4 million) over the past five years. The third Bosphorus bridge that Hyundai E&C built in Turkey (Hyundai E&C)In December 2014, the company als
Oct. 25, 2016