Most Popular
-
1
Military aircraft evacuating S. Koreans in Lebanon returns home
-
2
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
3
Yoon set for talks with Marcos in Philippines
-
4
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
5
Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
-
6
Can Jennie break the K-pop solo artist slump?
-
7
2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
-
8
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
9
Firefighters’ 3,000 won meals spark nutrition concerns
-
10
From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
-
[Photo News] Major Chinese tour group visits Korea
Some 80 million employees of China’s Nanjing Joymain Science & Technology Development Co. enter Seoul through the Incheon International Airport on Thursday afternoon. As the largest ever tour group to visit Korea at once, the employees are here as part of a company-sponsored incentive trip for its high-performance workers. They are set to visit popular tourist spots in and out of Seoul, shop at duty-free stores and hold a large-scale samgyetang party by the Hangang River during their scheduled s
May 5, 2016
-
[Consumer This Week] McDonald's, GGIO2, Bodyfriend, The Face Shop, Orion, Kooksoondang,
McDonald’s releases Reese’s McFlurryMcDonald’s has added a limited-edition Reese’s McFlurry to its menu.The ice cream dessert is a collaboration between the fast-food chain and Reese’s, a brand under the Hershey Co.Reese’s trademark peanut butter and milk chocolate flavor combines with vanilla ice cream in the McFlurry, McDonald’s said.Priced at 2,700 won ($2.30), the Reese’s McFlurry will be sold at McDonald’s until June 23.GGIO2 offers up Zero Gravity Air JacketIn preparation for the summer he
May 5, 2016
-
‘Family Month’ a growing burden on Koreans
Lee Jun-sik, a 33-year-old office worker who got married two years ago, has mixed feelings about May. Though he is grateful for the family bonding on holidays like Children’s Day and Parent’s Day, the costs of gift-giving drives up the couple’s monthly spending way beyond budget. “Since our marriage, my wife and I have to worry about preparing sizeable cash allowances or gifts for both our parents as well as our nephews. Combined with all the ‘spring weddings’ in May, it’s a big financial burden
May 5, 2016
-
Ex- Incheon vice mayor tapped to head KORAIL
Hong Soon-man, former vice mayor of Incheon in charge of economic affairs, has been tapped to lead Korea’s rail operator, according to government officials Thursday.The Transport Ministry has decided to nominate Hong as the chief for Korea Rail Corp, from among 16 candidates who applied for the position last month, they noted. Hong Soon-man (Yonhap)President Park Geun-hye is expected to approve the nomination next week.Hong began his public service career after passing the National Civil Servic
May 5, 2016
-
[Photo News] LG's Whoo cosmetics brand promotes palatial beauty
Whoo, a traditional herbal skin care cosmetics brand under LG Household & Health Care, showcases Korea’s traditional palace fashion at Gyeongbokgung Palace in Seoul on Wednesday. Whoo and the Cultural Heritage Administration will cohost cultural events at the palace until Sunday as part of their public campaign to promote Korea’s traditional palace culture. (LG Household & Health Care)
May 5, 2016
-
Seoul expands ‘car-sharing’ network
The Seoul city government has launched the second stage of car-sharing network aimed at expanding the number of vehicles and use of electric cars in the city, officials said Wednesday.The project named Nanum-Car service will be operated under a partnership with four car-sharing firms including SOCAR and Green Car. Vehicles for Seoul Metropolitan Government’s car-sharing service, Nanum-Car, are parked at a parking lot in Seoul. (Seoul Metropolitan Government)Through the partnership, officials pla
May 4, 2016
-
[Newsmaker] Hyundai Heavy pressured to make layoffs
Hyundai Heavy Industries is highly likely to push for massive layoffs amid a prolonged recession in the global shipbuilding sector and the government’s move to restructure the ailing industry. Over the past few weeks, the troubled world’s No. 1 shipbuilder is rumored to be planning an additional cut of 3,000 employees -- most likely from its production line -- in the form of voluntary retirement programs. The firm already cut around 60 executives in April and around 1,500 office workers last yea
May 4, 2016
-
LVMH to operate at Shilla I'Park duty-free shop
Shilla I’Park Duty Free has become the first of last year’s newly-licensed duty-free stores in Korea to house the world’s largest luxury goods maker LVMH Moet-Hennessy Louis Vuitton, according to Hotel Shilla Tuesday. The two companies recently agreed to launch 20 LVMH-owned brands, including Louis Vuitton, Dior, Bvlgari, Tag Heuer, Givenchy and Marc Jacobs, at the Shilla I’Park Duty Free store in Hyundai I’Park Mall in Yongsan.Hotel Shilla president and CEO Lee Boo-jin looks around Shilla I’Par
May 4, 2016
-
Asiana settles with San Francisco for $3.45 million
Asiana Airlines, the nation’s second-largest air carrier, has reached a $3.45 million settlement with San Francisco’s Board of Supervisors for damages caused during a crash in 2013 that killed three and injured nearly 200 others, according to reports on Wednesday.According to the agreement, which was approved unanimously by the city council members, $1.6 million from the settlement will go toward airport damages while $1.2 million will be used for the city’s legal fees. Asiana Airlines will also
May 4, 2016
-
[Photo News] Business tycoon in Iran
SK Group chairman Chey Tae-won (left) poses with CEO Roknodin Javadi of the National Iranian Oil Co., after visiting the state-run company in Tehran on Tuesday. The two leaders discussed ways to cooperate in resources development, the Korean conglomerate said. (SK Group)
May 4, 2016
-
KAI renews CEO’s term
The nation’s sole aircraft-maker Korea Aerospace Industries said the company decided to renew the three-year term for CEO Ha Sung-yong.KAI said in a filing that the decision came at an extraordinary shareholders meeting at the company’s headquarters in Sacheon, South Gyeongsang Province, on Wednesday. KAI president Ha Sung-yong (Yonhap)Under Ha’s leadership, KAI last year clinched a deal with Indonesia -- 20 percent cost sharing for the Korean Fighter Experimental program. The KF-X project aims
May 4, 2016
-
Hyundai Merchant pressed to complete negotiations over charter rates
Creditors of ailing Hyundai Merchant Marine and the government have urged the country's No. 2 shipper to wrap up its negotiations with the owners of chartered ships to cut leasing rates by May 20, threatening to put it under court receivership if it fails to produce tangible outcomes, industry sources said Wednesday.Last month, the creditors gave the nod to the financially troubled Hyundai Merchant's self-rescue plans including asset sales on the condition that it should complete renegotiations
May 4, 2016
-
Top conglomerates' debt rises 2.5% in 2015
The debt held by Korea's leading conglomerates increased 2.5 percent in 2015 from a year earlier, with five of them logging debt ratios exceeding 200 percent, corporate data showed Wednesday. According to the data by market researcher CEO Score, 252 affiliates of the country's top 30 business groups held a combined 279.88 trillion won ($243.3 billion) in debt at the end of last year, up from 272.97 trillion won a year earlier. The figure did not include debt owed by financial companies. Over the
May 4, 2016
-
Beer companies compete to supply to Chinese tourist parties
Korea's beer companies are competing to supply their products to Chinese tourists whose latest trend is to come here in the thousands and enjoy food parties together. Hite Jinro supplied 4,000 cans of beer to the 4,500 Chinese employees of Chinese beauty group Aolan, who had come to Korea on a reward trip and gathered in Incheon, a port city west of Seoul, on March 28 for a party. It will again be the provider of beer when some 8,000 employees from Zhongmai Group, a Chinese health care company,
May 4, 2016
-
Korea seeks hope in new industries
Concerns are growing that the Korean economy may be drawn into a long-term downturn -- perhaps irreversible -- if it fails to make a swift shift to next generation industries that can prop up its future growth.In a recent survey of 800 adult Koreans, conducted by the Federation of Korean Industries, more than 84 percent of the respondents said the country’s economy was now facing a slump caused by the lack of new growth engines and other fundamental problems.The country’s 10 major export items,
May 4, 2016
-
[Market Now] Hyundai Rotem seeks to supply trains to Iran
Hyundai Rotem, a Korean manufacturer of railway systems, said Wednesday that it was seeking to sell its diesel multiple unit trains to the state-owned Iranian railway company.In a public filing, the company said it has signed a memorandum of understanding with Iranian Islamic Republic Railways to sell 150 DMU trains.The two sides will proceed with further discussions on the conditions of the sales and related technologies.Hyundai Rotem is owned by the nation’s top automaker Hyundai Motor, which
May 4, 2016
-
Hong Kong billionaire to push Korean cosmetics in China
Adrian Cheng, 37-year-old scion of the world’s largest jewelry retailer, said he will use his company’s extensive retail network in mainland China to help boost domestic sales of Korean cosmetic products.The grandson of Hong Kong’s billionaire tycoon Cheng Yu-tung, who founded business group Chow Tai Fook Enterprise, decided last year to invest 18 billion won ($16 million) in Korean firm It’s Skin via the group’s subsidiary New World Development Company, where he serves as executive vice chairma
May 3, 2016
-
Fading fortunes of female chiefs at Hyundai Merchant, Hanjin Shipping
Money-losing Hyundai Merchant Marine and Hanjin Shipping have recently filed for creditor-led rehabilitation programs. There is another thing in common between the two shipping giants. They were led by female leaders, who suddenly transformed into chairwomen from housewives after the deaths of their husbands. Hyundai Group chairwoman Hyun Jeong-eun, 61, who stepped down from the HMM board of directors in March, began to run the conglomerate in 2003 when her husband Chung Mong-hun -- fifth son of
May 3, 2016
-
Oxy RB sales halve as boycott expands
Amid an escalating boycott nationwide, sales of Oxy Reckitt Benckiser, the maker of a harmful humidifier sterilizer, have plummeted by half from a year ago, local retailers said Tuesday.According to data compiled by supermarket chains here, the sales of dehumidifiers and bleachers manufactured and marketed by the firm plunged 53 percent and 38 percent respectively for the April 18-May 1 period compared to the same period last year.Oxy Reckitt Benckiser products on sale (Yonhap)The household good
May 3, 2016
-
Samsung BioLogics to produce affiliate’s biosimilars
Samsung BioLogics is scheduled to begin producing biosimilar drugs developed by its affiliate Samsung Bioepis, as the two have entered a production partnership, the companies said Tuesday.Samsung BioLogics confirmed to The Korea Herald that it has “recently sealed a production partnership with Samsung Bioepis.” It declined to offer further details about the deal, including its size and timing, citing regulatory compliance.The Samsung BioLogics headquarters in Songdo, Incheon (Samsung BioLogics)S
May 3, 2016