Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Yoon set for talks with Marcos in Philippines
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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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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'Will AI steal my job?' Koreans among nationalities feeling most threatened by AI
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Declining manufacturing sector raises concerns
[THE INVESTOR] With the deterioration of manufacturing sector here, industry experts are concerned that producers may opt for low-cost facilities overseas with local jobs fleeing to other developing countries. According to a report by Hyundai Research Institute, the contribution level of the manufacturing industry to the country’s economic growth has decreased from 3.5 percent in 1970s to 1.4 percent most recently. Experts cite that the decreasing measure of the added value in manufacturing as t
July 4, 2016
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Retailers looking for new fish suppliers after failed talks with Japan
Retailers have begun searching for suppliers of locally popular fish after South Korea's fishing agreement talks with Japan fell through last week, industry officials said Friday.The failed talks mean the two countries cannot fish in each other's exclusive economic zones, affecting the supply of belt fish and mackerel, the two most popular types of fish among South Korean consumers, they said.Supermarket chain E-Mart, which has been importing mackerel from Norway and Scotland, said it will look
July 4, 2016
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Hera opens first store in Beijing
[The INVESTOR] South Korea’s leading cosmetics brand Hera opened its first store in China on July 1, its parent company AmorePacific said on July 4. The first store opened at an upscale department store Shin Kong Place in Beijing, with the second one to follow at Hanguang Department Store in the same city on July 28. Hera, which was launched in 1995, has become one of the most popular cosmetics brands in South Korea and other Asian countries, especially in China. Hera’s first store in Beijing /
July 4, 2016
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S. Korean shipbuilders’ H1 performance at record low
[THE INVESTOR] South Korean shipbuilding industry was pushed aside by Chinese and Italian counterparts in the first half, with new orders falling to a record low. According to industry data released on July 4, local shipbuilders were awarded contracts for 27 merchant ships with a combined compensated gross tonnage of 830,000 in the first half of the year. Compared to last year, local shipbuilders’ first half performance has plunged by 88 percent in terms of CGT. The first half figure is the lowe
July 4, 2016
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Ex-chief of Daewoo Shipbuilding summoned over company's accounting fraud
A former CEO of Daewoo Shipbuilding & Marine Engineering Co., one of the country's top three shipbuilders, was summoned Monday as prosecutors widened their probe into the financially troubled firm's alleged accounting fraud and poor management.Ko Jae-ho, who headed the shipyard from 2012 to 2015, appeared before the Seoul Central District Prosecutors' Office in southern Seoul as a key suspect in the ongoing investigation into the embattled shipbuilder."I feel deeply responsible for the grim situ
July 4, 2016
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Shipbuilders' first-half new orders sink to record lows
New orders clinched by South Korean shipyards fell to record lows in the first half of the year, largely due to a protracted industry slump, mirroring their worst-ever business performance, industry data showed on Monday.According to the data compiled by global research firm Clarkson Research Services, a total of 6.32 million compensated gross ton worth of orders were placed around the globe in the January-June period, sharply down from 18.04 million CGTs the previous year.In case of South Korea
July 4, 2016
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Lotte Group chief vows to cooperate with prosecutor probe
The chief of South Korean business group Lotte said Sunday he will faithfully cooperate with a prosecutor probe into allegations that the group created illegal slush funds and conducted shady business practices."I will fully cooperate (with the investigation)," Lotte chairman Shin Dong-bin told reporters upon arrival at an airport in Seoul.His remarks came as Lotte, South Korea's fifth-largest conglomerate, has come under a high-profile investigation since early June involving prosecutor raids o
July 4, 2016
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Gas prices slip
GAS PRICES SLIP -- Drivers fill up on gas at a gas station in Gwanak-gu, Seoul on Sunday. International oil prices fell slightly as the dollar grew stronger after the Brexit vote, but domestic gas prices are holding relatively steady. (Yonhap)
July 3, 2016
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[Photo News] Chey's TED-style talk
SK Group chairman Chey Tae-won gives a TED-style talk to some 40 senior executives from the group‘s 16 companies at an event held in Icheon, Gyeonggi Province, Thursday. In the speech, Chey stressed innovative thinking to bring about a future success. (SK Group)
July 3, 2016
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3M under fire for silence over problematic filter
Multinational conglomerate 3M is remaining silent over its potentially toxic filters used in local air cleaners, stirring public anger over the lack of countermeasures. Earlier last month, a local broadcast revealed that a toxic substance called OIT was detected in air cleaners produced by Cuckoo and Dayou-winia. LG Electronics also admitted later that it had found the same issue in products. The filters of those products were all provided by 3M. Customers looks at air purifiers at a home applia
July 3, 2016
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[KOREAN LUXURY] Converging digital and analog worlds
The rise of new technology puts an end to old ways. This was what Seoul-based audio company iriver learned from the birth of iPhone, which felled its once-thriving MP3 player business at a stroke. In the mid 2000s, the company made a meteoric rise with its cubic digital music players that dominated 70 percent of the local market and 25 percent overseas. The 2007 debut of Apple’s iPhone that put every digital element - from Internet surfing to cameras -- into one hand-held device drove iriver to
July 3, 2016
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Shin Dong-bin returns to Korea
Lotte Group chairman Shin Dong-bin returns to Korea via Gimpo International Airport Sunday. (Yonhap)Lotte Group chairman Shin Dong-bin returned to Korea on Sunday afternoon after nearly a month away from the country, sparking questions about how he will handle the current investigation into the group.Shin, who landed at Gimpo International Airport at 2:38 p.m., was largely silent when questioned by reporters on his stance on prosecutors’ ongoing embezzlement investigation.Shin said only that he
July 3, 2016
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KEPCO school expands education on nuclear power
A graduate school run by the state-run Korea Electric Power Corp. is expanding its education on nuclear power to foreign students. Oh Se-kee, president of KEPCO International Nuclear Graduate School, or KINGS, visited Kenya in May to discuss nuclear issues in both countries and to reaffirm mutual cooperation. Oh also had a meeting with 10 Kenyan KINGS alumni who now work in their home country. KINGS president Oh Se-kee (center) poses with Kenyan graduates from the school in Nairobi in May.(KINGS
July 3, 2016
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Probiotics Dual Premium optimized for maximum health benefits
LG Life Science‘s premium health supplement brand Re:Tune has released a new probiotic supplement optimized for improving intestinal health and immunity, the company said Sunday.Probiotics Dual Premium utilizes a patented probiotic strain called DDS-1 produced by the American UAS Labs, and contains 50 billion lactic acid bacteria -- providing the maximum amount of probiotics recommended by the Ministry of Food and Drug Safety. http://theinvestor.koreaherald.com/companies_detail.php?q=LGLS(068870
July 3, 2016
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Incheon airport wins two int'l food-beverage awards
Incheon International Airport, South Korea's main gateway for air travelers, won two prestigious awards at this year's international food and beverage trade event, the airport authority said Sunday.The Incheon International Airport Corp. said it grabbed the Food & Beverage Marketing and Promotions Campaign of the Year and Food and Beverage-Related Innovation of the Year at the 2016 Airport Food & Beverage Conference and Awards event held in Geneva, Switzerland. From left are Choi Jeong-eun of In
July 3, 2016
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Beverage market embraces safe packaging
Korea’s hot and humid summer weather makes keeping food fresh a challenge during the summer, and beverage brands are lining the shelves with specially packaged products to put health-conscious consumers at ease.Focusing on popular natural beverages like fruit juices and dairy, the packages are specially designed to keep heat and moisture out even when the products are kept at room temperature.Beverages using aseptic packaging. Clockwise from top left: Dole’s 100% Ice Juice Bar, Del Monte’s Farme
July 3, 2016
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Korean movies tap into Southeast Asian market
The South Korean film industry is tapping into the emerging Southeast Asia market by carrying out joint projects and engaging in technological exchanges, a state-run cultural institution said Sunday. The Korean Film Council, a Busan-based state-funded movie promotion agency, said it participated in a global networking event in Vietnam from June 22 to 24, that will allow it to expand the realm of local cinema. Dubbed "2016 K-Cinema Global Networking in Vietnam," the three-day event drew movie mar
July 3, 2016
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Busan development plan to be revised in wake of airport expansion decision
The development plan for the western part of Busan will be revised following the government's decision to expand the existing airport that serves South Korea's No. 2 city, municipal authorities said Sunday.The move comes after the Ministry of Land, Infrastructure and Transport announced on June 21 that it will scrap its long-running plan to build a brand new airport to service the southeastern part of the country, and opted to expand existing infrastructure at Gimhae International Airport. The a
July 3, 2016
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[Newsmaker] 'I've said it all': Lotte founder’s daughter
[THE INVESTOR] Shin Young-ja, daughter of Lotte Group founder Shin Kyuk-ho and head of Lotte Foundation returned home on July 2 after 16 hours of questioning by prosecutors.“I’ve said it all,” Shin, 74, told reporters on this day, but did not elaborate. Lotte founder‘s daughter Shin Young-ja (Yonhap)The authorities had summoned Shin to the Seoul Central District Prosecutors’ office the day before to be questioned on whether she received bribes from Jung Yoon-ho, the former head of cosmetics fi
July 2, 2016
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Asiana replacing parts in A380 from delayed New York-Incheon flight
[THE INVESTOR] Asiana Airlines has grounded the Airbus A380 aircraft that experienced mechanical problems at the John F. Kennedy International Airport, it was revealed on July 1.According to industry sources, Asiana Airlines has grounded the concerned aircraft to replace the parts that caused the issue.On June 24, Asiana Airlines flight OZ2217 from New York to Incheon was delayed after sparks erupted from near one of the engines. The flight was delayed until the following day while Airbus and As
July 1, 2016