Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Yoon set for talks with Marcos in Philippines
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Korean bands get their day in the sun, finally
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Firefighters’ 3,000 won meals spark nutrition concerns
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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Injured captain Son Heung-min dropped from nat'l team for World Cup qualifiers
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Inspire Integrated Resort, Incheon Airport ink final land deal
Incheon International Airport Corp. has signed a final agreement with Inspire Integrated Resort to begin construction on a resort complex on Yeongjongdo Island by 2020, according to the airport corporation and the Transport Ministry on Monday.Under the agreement, Inspire will invest $5 billion on developing 2.67 square kilometers of land. An artist’s impression of the planned Inspire Integrated Resort (Ministry of Infrastructure, Land and Transport)The first step will be to build the resort with
Aug. 1, 2016
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CJ takes Korean culture as key to future
LOS ANGELES -- In the eyes of hallyu enthusiasts in the West Coast, hallyu or Korean wave is not a fading phenomenon. “There’s always something new about K-pop,” said a 17-year-old who introduced herself as Star, a native of Los Angeles. A K-pop concert takes place Sunday at the Staples Center in Los Angeles, California, as part of KCON 2016 hosted by the CJ Group. (CJ Group)“(The) concept (of performances), fashion and everything … is new and it is so energetic,” said the fan of K-pop band EXO
Aug. 1, 2016
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Some victims of toxic humidifier sterilizers reject Oxy's compensation plan
Some victims of the toxic humidifier sterilizers, produced by Oxy Reckitt Benckiser, rejected the firm's compensation plan on Monday, saying they won't accept the offer until the ongoing investigations by state prosecutors and parliamentary probes are concluded.The victims and their families also denounced the compensation plan as failing to "adequately" reflect their views, stressing that the company is trying to quickly settle the issue by exploiting the "extreme mental pain and economic diffi
Aug. 1, 2016
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Inspire Integrated Resort signs land agreement with Incheon Airport
A consortium led by U.S. casino operator Mohegan Sun on Monday signed a land lease agreement with Incheon International Airport Corporation to build an integrated resort on Yeongjong Island by 2020. Inspire Integrated Resort, a consortium by Mohegan Sun and South Korean chemical maker KCC Group, signed the agreement to use land spanning 2.67 square meters on the gateway island west of Seoul. The agreement comes after Inspire in February won a bid to build an integrated resort with a 5.6 trillion
Aug. 1, 2016
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Korean hospitals, firms eye global market with telemedicine
South Korea's big hospitals and medical equipment firms have made inroads into Asian and Latin American markets with their telemedicine services, hoping to create new revenue flows in the global market. Telemedicine allows doctors to offer quality health care to those in hard-to-reach areas and for the elderly by connecting patients to doctors using the internet. In April 2015, Gachon University Gil Hospital signed a memorandum of understanding with Peru's Cayetano Heredia Hospital to cooperate
Aug. 1, 2016
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Construction permits rise 6.4% in H1
Construction permits for new buildings grew from a year earlier in the first half, partly on a rise in permits for new residential and commercial buildings, the government said Monday.The number of construction permits issued for new buildings came to 134,348 in the January-June period, up 6.4 percent from the same period last year, according to the Ministry of Land, Infrastructure and Transport.From six months earlier, however, the H1 tally marks a 3.6 percent drop.The on-year gain was largely
Aug. 1, 2016
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Oxy offers up to W350m for victims
Household goods manufacturer Oxy Reckitt-Benckiser announced Sunday that it would provide up to 350 million won ($315,000) in compensation each to Korean victims of its lethal humidifier sanitizers. “The compensation package took into consideration the delay in preparing a proper response, and the severity of the issue (of the humidifier sanitizers’ danger),” the company said in a statement via its website. The company said it would begin taking applications for compensation Monday.Under the fin
July 31, 2016
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Tycoons face screening for financial firm ownership
The chiefs of the financial arms of major conglomerates -- including Samsung, Hyundai and Hanwha groups -- will face eligibility screenings as the government recently toughened regulations on managing financial companies, officials said Sunday.Under the nation’s revised corporate governance law, major shareholders of nonbanking financial entities, such as credit card, insurance and securities firms, are subject to periodic review by the Financial Services Commission on whether they are eligible
July 31, 2016
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Incheon airport marks 500 million passengers
Incheon International Airport served its 500 millionth passenger Sunday, setting a new record for the largest number of daily passengers. According to Incheon International Airport Corp., the 500 millionth passenger, Kim Yong-geun, arrived at Incheon from Bangkok on Asiana Airlines flight OZ7423 at 10 a.m. He was greeted by a water salute from fire trucks and presented with a golden key by Incheon International Airport CEO Chung Il-young at a special ceremony. Incheon International Airport Corp.
July 31, 2016
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POSCO Daewoo picked as single preferred bidder for Myanmar‘s power plant
Korea’s top trading arm, POSCO Daewoo, was picked as the single preferred bidder for a multimillion dollar project to build a power plant in Myanmar, the company said Sunday.The nation’s biggest steelmaker POSCO’s subsidiary said it won the qualification during an international competitive bid held by Myanmar’s Electric Power Generation Enterprise.The bid winner will build a steam power plant in Shwetaung, northwest of largest city Yangon, to provide electricity to households, industrial plants
July 31, 2016
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Gimpo Airport plagued with accidents linked to remodeling
Gimpo International Airport is coming under fire for continued safety concerns linked to its ongoing remodeling project after consecutive fires and flooding.The latest incident broke out Friday at approximately 6:30 a.m., when water leaked from the ceiling near the convenience store on the first floor and restrooms on the second floor, according to Korea Airports Corp., which operates the Gimpo airport.“The water came into the waiting area when heavy rains flooded the canopy in the remodeling si
July 31, 2016
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Southeast Asian countries study Korea’s water management
Senior government officials from Asian countries are learning about water management from Korea’s water resources public corporation, or K-water, according to Seoul officials Sunday.K-water started last month a three-week workshop about water management and control. Those attending are sixteen officials from seven Southeast Asian countries including Thailand, Cambodia, Malaysia and the Philippines. Asian officials listen to an explanation about a water management system by a K-water official. (K
July 31, 2016
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S. Korea halts some U.S. GM wheat imports on safety concerns
South Korea said Friday it has suspended customs clearance for some genetically altered wheat from the United States due to safety concerns.The measure came as the Animal and Plant Health Inspection Service (APHIS) of the U.S. Department of Agriculture informed Seoul that an unapproved strain of genetically modified wheat was found in the western state of Washington, according to the Ministry of Food and Drug Safety.It said the distribution and sales of wheat already imported from the state will
July 29, 2016
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Gov’t limits duty-free shopping to stop hoarding
[THE INVESTOR] The number of items bought at duty-free stores will be limited to prevent hoarding and proxy buying. The Korea Customs Service recently sent out an instruction to duty-free store operators to limit individual purchases to 10 bags and watches, and up to 50 cosmetics and perfumes of a single brand, based on the date of leaving the country. A Seoul duty free store is packed with travelers.The customs office is seeking to prevent illegal distribution of duty-free goods in the country,
July 29, 2016
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Samsung Heavy suffers Q2 operating loss on restructuring costs
[THE INVESTOR] Ailing shipyard Samsung Heavy Industries posted an operating loss of 283.7 billion won (US$253.18) in the April-June period, mainly because of workforce restructuring costs, the company said in its quarterly earnings report on July 29. The fall, however, is an improvement from 1.54 trillion won loss a year earlier, up by 81.7 percent. Samsung Heavy Industries' shipyard.For the second quarter, the Samsung affiliate logged net loss of 212.4 billion won, narrowing the loss from 1.15
July 29, 2016
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Hanwha to wholly own defense affiliate
[THE INVESTOR] Hanhwa Techwin announced on July 29 that it will acquire 13.5 million shares of France’s Thales International in its affiliate Hanwha Thales for 288 billion won (US$253.95 million). The due date for acquisition is Nov. 23, making it the sole owner. The French defense giant has decided to sell its 50 percent stake in the defense electronics joint venture Hanwha Group acquired from Samsung last year. Hanwha Techwin, an aircraft engine manufacturer, and Hanwha Thales are two of the f
July 29, 2016
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Hi, Design Festival kicks off
An annual design festival led by Herald Corp. kicked off Friday with an aim to better support and introduce innovative products by local leading designers, the company said.Visitors purchase items at the Hi Design Festival’s design market, which opened in Seoul on Friday. (Yoon Byung-chan/The Korea Herald)Calling itself “a design culture festival enjoyed by all in one fine summer day,” the 3rd Hi, Design Festival offers programs including product markets, hands-on experiences and one-day classes
July 29, 2016
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POSCO Daewoo to withdraw from Madagascar Nickel plant project
POSCO Daewoo, a subsidiary of steelmaker POSCO, decided to withdraw from a Korean consortium that took part in a Nickel plant project in Madagascar, due mainly to a continuous deficit issue prompted by the plummeting Nickel price, the company said Friday. Since 2006, POSCO Daewoo has injected 150 billion won ($134 million) into a Nickel mine project in Ambatovy, Madagascar, after forming the Korea Ambatovy Consortium with STX and Korea Resources Corp. POSCO Daewoo’s withdrawal from the Ambatovy
July 29, 2016
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AmorePacific posts record Q2 earnings on upbeat overseas sales
[THE INVESTOR] AmorePacific Group, the nation’s largest beauty company, on July 29 posted its best second-quarter earnings, largely driven by its soaring overseas sales especially in China. The company said April-June operating profit surged 27.1 percent to 309.7 billion won. Revenue stood at 1.79 trillion won, up 27.1 percent on-year. A Chinese customer tries out a Sulwhasoo foundation at a Seoul department store. AmorePacificDomestic sales at about 1.38 trillion won still made up the larger p
July 29, 2016
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Gov't paroles SK Group vice chairman convicted of embezzlement
South Korea on Friday released SK Group vice chairman who was convicted of embezzlement and 573 other prisoners who exhibited exemplary behavior while serving their sentences, the justice ministry said. The inmates, who have a low possibility of becoming repeat offenders, were released at 10 a.m., the Ministry of Justice said. It said those released had already served more than a third of their sentences. Among those set free are Chey Jae-won, the SK Group vice chairman and younger brother of th
July 29, 2016