Most Popular
-
1
Military aircraft evacuating S. Koreans in Lebanon returns home
-
2
Yoon set for talks with Marcos in Philippines
-
3
Korean bands get their day in the sun, finally
-
4
Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
-
5
2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
-
6
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
7
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
8
Firefighters’ 3,000 won meals spark nutrition concerns
-
9
From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
-
10
Injured captain Son Heung-min dropped from nat'l team for World Cup qualifiers
-
Korean Air flat likely caused by foreign object
The flat tire on an a Korean Air flight that landed in Jeju Airport on July 29 was likely caused by a foreign object rather than a problem with the tire or plane itself, according to the Transport Ministry on Thursday.A B737 carrying 147 passengers on Korean Air flight KE718 flew from Narita Airport in Japan to Jeju Airport, where it suffered a flat tire after landing.An analysis of the destroyed nose tire showed that the tire had been damaged by a foreign object, but it was not clear whether th
Aug. 4, 2016
-
HMM set for new management
Korea’s second-largest shipper Hyundai Merchant Marine will be off to a fresh start as a subsidiary of the Korea Development Bank, ending the 40-year-long ties with conglomerate Hyundai Group after struggling the restructuring plan. Having the largest shareholder change from Hyundai Group to the state-run policy bank, the shipper will list the new stocks on Friday, after wrapping up the months-long restructuring plans. Last month, Hyundai Group lost control over the shipper as the shareholders a
Aug. 4, 2016
-
POSCO Daewoo to supply $150m in materials to Indonesian dockyard
POSCO Daewoo, a subsidiary of steelmaker POSCO, will supply materials and equipment worth $150 million to a state-run Indonesian dockyard to build large vessels, the company said Thursday. POSCO Daewoo and Indonesia’s largest state-run shipyard PT Penataran Angkatan Laut inked a memorandum of understanding Wednesday over providing equipment needed for building 10 patrol ships and one logistics support ship. The 11 ships will be taken over by the Indonesian government once they are built. Since 2
Aug. 4, 2016
-
Korea's custom agency uses QR code for exports
The customs agency on Thursday said it has begun to use QR codes for South Korean goods cleared for e-commerce exports in the latest move to enhance the credibility of the goods and prevent the spread of knockoffs.The Korea Customs Service said it began to provide QR codes to logistics companies via their computer network earlier in the day so that logistics companies can print out commercial invoices with QR codes and stick them on packages.Foreign buyers can scan QR codes -- a type of matrix b
Aug. 4, 2016
-
Hyundai Motor chief urges additional efforts to develop overseas markets
The head of South Korea's leading automotive conglomerate Hyundai Motor Group called for stepped up efforts to develop and further explore overseas markets, Thursday, calling it the only viable way to overcome a prolonged slump in the South Korean market."Just as Hyundai and Kia have maintain their growth by exploring overseas markets, we must work to boost overseas sales as a way of overcoming current uncertainties," group chairman Chung Mong-koo was quoted as saying while visiting a production
Aug. 4, 2016
-
Ice cream sales drop despite unusual heat wave
Despite an unusual heat wave, sales of South Korean ice cream makers fell in July from a year earlier due to a growing market for alternative products, an excessive price war and other factors, industry sources said Thursday.Lotte Confectionery Co., a key food unit of South Korean retail giant Lotte Group, saw its sales of ice cream products slump 7 percent from a year ago to 60 billion won ($54 million) last month.Sales of Binggrae Co. declined 6 percent on-year to 37 billion won in July, with
Aug. 4, 2016
-
Foreign auto sales dip 24% in July on Volkswagen woes
Sales of imported vehicles in South Korea dropped sharply from a year earlier in July due partly to a large cut in sales of Volkswagen and Audi cars mired in the fake emissions scandal, industry data showed Thursday.According to the data compiled by the Korea Automobile Importers and Distributors Association, 15,730 imported cars were sold here last month, down 24 percent from the same month last year.From a month earlier, the July tally also marked a 32.9 percent plunge.Such a sharp decline was
Aug. 4, 2016
-
SK Group's outbound shipments dwarf domestic sales in H1
SK Group, South Korea's third-largest conglomerate, saw its overseas sales exceed domestic sales in the first half on the back of the brisk performance of its semiconductor and chemical businesses, company officials said Thursday. Companies affiliated with SK Group booked combined sales of 54.73 trillion won ($49.09 billion) in the first six months of the year, with overseas sales accounting for 51.8 percent, its regulatory filings showed. Its exports have beaten domestic sales since 2013, acco
Aug. 4, 2016
-
Hyundai Oilbank marks over 1,000 accident-free days
Hyundai Oilbank, one of Korea’s major oil refiners, said Wednesday that the company had recorded more than 7 million man-hours of accident-free work since late October in 2013 -- equivalent to 1,007 days of operation. This is the first time that a Korean oil refiner has surpassed 1,000 days without accident. Hyundai Oilbank‘s previous record was in 1989, when it succeeded in making 810 accident-free days. “Over 1,000 days of accident-free work is the fruitful result made by employees who thoroug
Aug. 3, 2016
-
[Graphic News] H2 contraction forecast for major industries
Korea’s major industries are projected to contract in the second half of this year, a report showed Wednesday. According to the state-invested Korea Development Bank, the amount of orders that local shipbuilders receive will plummet by 88.2 percent in the second half of this year. In the first half, they fell by 94.6 percent on-year. The bank also forecast that construction firms’ orders will shrink by 7.4 percent this year, with a decline both locally and overseas.The display industry is also a
Aug. 3, 2016
-
Spolive to expand services in bid to regularize sports portal business
On July 27, Spolive (CEO: Kim Wan-su) announced that, by early 2017, it will offer real-time broadcasts and information services on not only baseball, soccer, and basketball but also volleyball and ice hockey. Spolive is a sports portal that provides live broadcasts of major professional sports tournaments from around the world as well as information on leagues, teams, and players. On the company’s website and via its mobile application, users are able to watch games and conduct searches for spe
Aug. 3, 2016
-
Sales of Korean slim cigarette skyrocket overseas
More than 200 billion sticks of the slim cigarette Esse have been sold overseas since 2001, said KT&G, Korea’s leading cigarette maker which produces the brand. According to KT&G on Wednesday, the number of slim cigarettes sold outside Korea from 2001 to July this year was around 220 billion. Sales of Esse currently account for more than one-third of slim cigarettes sold worldwide. The popularity of Esse stems from its high quality, low-tar, super slim design that met the demand of overseas cons
Aug. 3, 2016
-
Seegene develops new DNA analysis tech
South Korean biotechnology firm Seegene on Wednesday said that it has introduced a new platform technology that automates steps involved in “molecular diagnostics” such as DNA analysis. Seegene’s newly developed “real-time PCR” platform technology, the “SGsilico,” is able to automate the dozens of steps involved in the “molecular assay” procedure -- analyzing the given components of a substance, such as human genes.Molecular diagnostics can determine and diagnose what kind of disease or conditio
Aug. 3, 2016
-
Top 10 conglomerates make up half of total market value: report
Korea’s top 10 conglomerates were found to make up more than half of the nation‘s total stock market value, a report showed Wednesday. According to corporate tracker CEO Score, the market capitalization of 181 listed companies owned by 10 top conglomerates recorded 778.5 trillion won ($698 billion) as of late last month, with 416 family members owning 70 trillion won. The entire listed companies under the 10 top groups accounted for 51.2 percent of the total market price of the Korean stock mark
Aug. 3, 2016
-
World Tower should open on schedule: Lotte
Lotte Corp. on Wednesday refuted mounting claims that its Lotte World Tower, the nation‘s highest building, will not be able to open within the year as initially planned.“Although it is true that Lotte Group as a whole is currently facing some issues, Lotte Corp. is not under investigation. There will be no problem in completing the tower within the year,” a company spokesman told The Korea Herald.The Lotte World Tower under construction (Yonhap)According to the spokesman, the 123-story tower is
Aug. 3, 2016
-
KB Financial nurtures fintech start-ups
KB Financial Group has geared up to coordinate with rising fintech start-ups to take the industry mainstream. KB Financial launched “KB Starters Valley” in March to offer all-in-one package of services to promising start-ups, which include working space, mentoring service, funding and partnership with the financial group.Representatives from KB Financial Group and Cambodia’s Canadia Bank pose at am MOU signing ceremony in June. (KB Financial)The start-ups, or KB Starters, prove their business va
Aug. 3, 2016
-
Agriculture Ministry to offer insect food tastings
The Ministry of Agriculture, Food and Rural Affairs has organized an insect food tasting event in Seoul, with the aim of improving the public perception of edible insects and promoting the growth of the insect food industry. The event will run from Aug. 4-17 at the Nonghyup Hanaro Club in Yangjae-dong of southern Seoul and feature 19 insect-based food items made by four food companies, the ministry said.Visitors can try out diverse foods that contain edible insects -- such as cookies, noodles, e
Aug. 3, 2016
-
More passengers complaining about budget carriers
Complaints filed against low-cost carriers greatly outnumbered those against full-service carriers, data showed Wednesday.According to data submitted by the Korea Consumer Agency to a lawmaker Wednesday, the agency took corrective measures for a total of 337 complaints filed against airlines last year, with just 136 of them related to full-service carriers Asiana Airlines and Korean Air.Between October 2015 and March 2016, 60.3 percent of the 446 complaints filed in relation to airline services
Aug. 3, 2016
-
Korea's e-commerce exports up 83% in Q2
South Koreans' direct purchases from foreign countries edged up in the second quarter of this year, with online purchases of Korean products by overseas shoppers nearly doubling, government data showed Wednesday.Koreans' direct purchases of foreign goods via overseas online shopping malls reached 411.8 billion won ($369.3 million) during the April-June period, up 5 percent from 392 billion won a year ago, according to the data compiled by Statistics Korea.At the same time, internet-based direct
Aug. 3, 2016
-
Korea to hold food fair in China
South Korea will hold a food fair in the Chinese city of Chengdu later this week to promote the country's agricultural products and foodstuffs in the neighboring country, the ministry here said Wednesday.The 2016 Chengdu K-Food Fair will kick off on Thursday and run through Wednesday, with 28 South Korean food and dairy firms to present their products, according to the Ministry Agriculture, Food and Rural Affairs.During the four-day event, South Korean firms including Lotte Chilsung Beverage Co.
Aug. 3, 2016