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
1,430 minors investigated for drug offenses from 2018 to 2023: police
-
8
Market uncertain on Korea's October rate cut despite slowed inflation
-
9
Special counsel bill to probe first lady scrapped
-
10
Korean bands get their day in the sun, finally
-
AmorePacific hosts marathon for breast cancer awareness
South Korean cosmetics giant AmorePacific and the Korea Breast Cancer Foundation held the Seoul leg of the 2016 Pink Ribbon Love Marathon for breast cancer awareness Sunday. The Seoul marathon was the last of an annual series of races that aim to spread public awareness about breast cancer -- the most common form of cancer among women -- and raise funds for low-income breast cancer patients. The Pink Ribbon Love Marathon for breast cancer awareness takes place at the Hangang Park in Yeouido, wes
Oct. 10, 2016
-
Daewoo Shipbuilding says restructuring scheme going smoothly
Daewoo Shipbuilding & Marine Engineering Co., a major shipyard in South Korea, said Monday its restructuring scheme is going smoothly, with its three offshore facilities to be delivered on time."We expect our business result to remain in positive terrain going forward as our restructuring plan is being implemented as promised, and ships and offshore facilities will be delivered as scheduled," the shipbuilder said in a statement.In the first half of the year, Daewoo Shipbuilding suffered a net lo
Oct. 10, 2016
-
Transport minister labels truckers' strike illegal, vows stern punishment
South Korea's transportation minister on Monday vowed stern measures against what he called an illegal strike by unionized cargo truck drivers while pledging to take available means to minimize the fallout on the local economy.The warning came hours after some 7,000 truckers began staging a walkout while demanding the withdrawal of a recent government plan on modernizing the country's shipping industry.Transport Minister Kang Ho-in asserted that the demand for the withdrawal of the government pl
Oct. 10, 2016
-
Cigarette sales in Korea edge up in Q3 despite higher prices
Sales of cigarettes in South Korea edged up from a year earlier in the third quarter of this year despite the government-led anti-smoking campaign, government data showed Monday.South Korean smokers purchased 990 million packs of cigarettes during the July-September period, up 0.6 percent from 980 million sold a year earlier, according to the data compiled by the Ministry of Strategy and Finance.The quarterly figure, however, marked an 18-percent plunge from 1.2 billion packs sold over the same
Oct. 10, 2016
-
Foreign firms grapple with anti-graft law
[THE INVESTOR]Multinational firms operating in Korea have been as puzzled as their local counterparts in preparing for what is considered to be one of the most stringent anti-graft laws in modern Korean history.The Improper Solicitation and Graft Act that went into effect on Sept. 28 limits public officials, journalists and private school teachers to giving or receiving a meal more than 30,000 won ($26.95), a gift of more than 50,000 won and a congratulatory or condolence payment of more than 10
Oct. 9, 2016
-
[Graphic News] Ramen exports to reach all-time high
With popularity of South Korean-made ramyeon continuing to rise, the amount of ramyeon exports is expected to reach an all-time high, the Korea Customs Service said.From January to August this year, the export amount of ramyeon reached $175 million this year, marking a 26.5 percent hike from the same period last year.At this rate, the total amount by the year’s end is expected to reach about $263 million. Of this year’s total so far, $27,000 worth of exports were made via e-commerce, marking a w
Oct. 9, 2016
-
Hyundai's flooded production line to resume operation next week
Hyundai Motor Co.'s production line in the southern industrial city of Ulsan, which was earlier suspended due to flooding from Typhoon Chaba, is set to resume operation next week, South Korea's No. 1 carmaker said Saturday.The production line, which manufactures the Santa Fe and Avante, was to start normal operations on Friday, however that plan was delayed as it is taking more time than expected to clear out the muddy water, a corporate official said.Dozens of cars that were ready to be sent to
Oct. 8, 2016
-
US court reinstates $120 million victory for Apple in patent battle with Samsung
Overturning an earlier decision, a U.S. appeals court on Friday reinstated a lower-court verdict that Samsung Electronics pay Apple US$120 million for violating three iPhone patents.In February, a three-member panel of the U.S. Court of Appeals for the Federal Circuit in Washington ruled that Samsung did not infringe upon the patents on "quick links," "slide-to-unlock" and "auto-correct" technologies, and therefore does not need to pay $120 million ordered by a lower court.Apple appealed that de
Oct. 8, 2016
-
Hyundai Motors donates W5b to typhoon-hit Ulsan
Hyundai Motor Group, the nation‘s largest carmaker, has donated 5 billion won ($4.47 million) to Ulsan, a southeastern industrial city hit hard by typhoon Chaba earlier this week, the company said Friday in a statement. The financial donation was given to the Ulsan city government and the funds will be spent to support residents suffering from damage caused by the heavy rain that battered the area, it said. Ulsan is home to Hyundai Motor’s largest manufacturing plant.The carmaker has also dispat
Oct. 7, 2016
-
[Weekender] Lengths people go to stop hair loss
Some apply hair ointment, some spray herbal hair restorer, some take pills, some visit a hair clinic, and some even receive hormone injections, all to stop balding. From low budget daily regimens to pricey scalp treatments, there is a wide range of methods to put an end to hair loss.Scalp acupuncture is performed to increase scalp blood circulation at Thebom Korea Medicine Clinic Bundang Branch. (Thebom Korea Medicine Clinic)“I try to stay away from coffee, and make sure to blow dry my hair afte
Oct. 7, 2016
-
Walking up to the second floor of one of the biggest branches of a leading health and cosmetics chain, Olive Young, what catches your eye is the hair products section. The size of the section -- with products ranging from dozens of shampoo brands to anti-aging hair products and small gadgets like hair irons -- reflects the importance of hair products in the beauty industry. Hair care products accounted for more than 13 percent of the total production by Korean cosmetics companies in 2015, to
Oct. 7, 2016
-
Tension rises over truck drivers' strike
Tension escalated Friday over a planned nationwide strike by truck drivers next week and its impact on the already strained transport industry. Earlier this week, Korea’s largest freight transport union threatened that it would refuse cargo loading and unloading starting Monday against the government’s recent reform outline on the freight transport market. Of about 11,000 trucks joining the union, over 70 percent are container-transporting trucks. If it goes ahead, this will mark the fourth gene
Oct. 7, 2016
-
Hanmi under probe over alleged information leak
South Korea’s financial authorities have launched a probe into reports that Hanmi Pharmaceutical leaked information on terminating its licensing partnership with Boehringer Ingelheim before making an official disclosure last week. The Financial Service Commission said Friday that it has confiscated smartphones from Hanmi officials as part of the investigation. It would consider taking appropriate legal action if needed. The FSC’s capital market investigation unit is looking into possibilities th
Oct. 7, 2016
-
Samsung Electronics estimates Q3 operating profit to rise 5.55%
Samsung Electronics Co. predicted Friday that its third-quarter operating profit may rise 5.55 percent on year, despite a global recall of the Galaxy Note 7 smartphones. Operating profit is estimated at 7.8 trillion won ($6.98 billion) in the July-September period, compared with 7.39 trillion won for the same quarter last year, Samsung said in a regulatory filing. YonhapCompared with a quarter earlier, third-quarter operating profit is estimated to fall 4.18 percent, Samsung said. Third-quarter
Oct. 7, 2016
-
'Korea trails China in new growth engines'
South Korean companies lag behind their Chinese counterparts in industries identified as new growth engines for the economy, a study found Thursday. The Korean Economic Research Institute, a private think tank, identified the top 100 global companies in each of the three main industries, including health care, software and sensor networks, which have been defined as future engines for economic growth. The main industries were divided into nine subcategories. It said South Korean companies in
Oct. 6, 2016
-
[NEWS ANALYSIS] Elliott’s proposal could fuel Samsung’s transition
Potentially shifting from its hostile attitude against Samsung’s merger plan last year, Elliott Management Co., a US activist hedge fund, on Thursday proposed the South Korean electronics giant to reshape its corporate structure, saying it would not only increase the shareholders’ value but will also open a door for the new leadership.Elliott, through its affiliates -- Blake Capital and Potter Capital -- sent a letter to Samsung Electronics’ board members to split the tech giant into holding and
Oct. 6, 2016
-
[Box] Friend or foe? Elliott jabs Samsung again
US activist hedge fund Elliott Management Corp. and Samsung ended a bitter battle in March this year, when Elliott dropped a lawsuit against Samsung over a merger between two Samsung units.After six months, the latest jab from Elliott came Thursday, with its two affiliates Blake Capital and Potter Capital demanding changes in Samsung’s corporate governance and more dividends for shareholders.In May last year, Elliott drove minority shareholders of Samsung to oppose the merger between Samsung C&T
Oct. 6, 2016
-
[Super Rich] Two entrepreneurs bet big on future generations
Making donations to the future generation is still a novel concept in South Korea. While some 155 wealthy individuals joined The Giving Pledge, a global commitment by the super rich to dedicate the majority of their wealth to philanthropy, none are from South Korea.Even the moves to create a public trust is scrutinized here as an attempt to evade or reduce taxes or fortify the managerial control of a conglomerate.There are, however, a handful of South Korean business leaders standing at the fore
Oct. 6, 2016
-
Hard work pays off: Kolmar Korea chief
Yoon Dong-han, CEO of Kolmar Korea, a beauty and pharmaceuticals company, urged Korean people to work hard to get what they want in life.“You can‘t choose to be born with a ‘golden spoon’ but you can turn your spoon color to shining gold by hard work,” said the 60-year-old at a speech to middle and high school heads last month in Cheongju, North Chungcheong Province. Kolmar Korea Chairman Yoon Dong-han (The Herald Business)In “Hell Joseon,” a sarcastic term for modern Korea, people often complai
Oct. 6, 2016
-
Interwork Korea selected as a rising SME for 2016
Local cosmetics manufacturer Interwork Korea was named a “Promising Small and Medium-Sized Business 2016” by Gyeonggi Province earlier this week at the Kyeonggi Small and Medium Business Center, located in Suwon City of Gyeonggi Province, the firm said Thursday.Since 1995, Gyeonggi Province has been recognizing small and medium-sized enterprises operating in the province that show good prospects to grow further with various advantages. Interwork Korea President Moon Hyun-myung (left) poses with
Oct. 6, 2016