Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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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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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Can Jennie break the K-pop solo artist slump?
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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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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First lady’s Dior bag scandal to be at center of Assembly audit
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Firefighters’ 3,000 won meals spark nutrition concerns
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[Newsmaker] Mr. Pizza chairman apologizes for assault
The chairman of MPK Group, which runs the Mr. Pizza chain, issued an official apology Monday night on the company‘s website in response to public outcry over his alleged assault of a security guard Saturday night.“It was my mistake. I sincerely apologize to the person who was hurt,” the statement from chairman Jung Woo-hyun reads. “I also apologize for upsetting many others. I take full responsibility for the incident, and regret my actions.”MPK Group chairman Jung Woo-hyun The apology came a da
April 5, 2016
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Korea, Mexico ink to cooperate on smart grid
State-run Korea Electric Power Corp., the nation’s top utility company, signed a memorandum of understanding with Mexico’s state-owned electric utility company Comision Federal de Electricidad on Monday for comprehensive cooperation on smart grid and new energy projects, KEPCO officials said.The MOU was concluded during President Park Geun-hye’s visit to Mexico. KEPCO CEO Cho Hwan-eik is a member of the business delegation accompanying the president. KEPCO senior vice president Lyu Hyang-reol (t
April 5, 2016
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Korean seafood exports edge up 1.5% in Q1
Exports of Korean seafood edged up 1.5 percent in the first three months of 2016 from a year earlier on brisk demand from the United States and China, the maritime ministry said Tuesday.The country's outbound shipments of fish, shellfish and seaweed was valued at $435 million during the January-March period, up from $429 million tallied a year ago, according to the Ministry of Oceans and Fisheries.In particular, exports reached $183 million in March, marking the highest monthly value since April
April 5, 2016
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Exports of Korean cosmetics more than triple over 5 yrs
Exports of Korea-made cosmetics more than tripled over the past five years as the Korean Wave, or Hallyu, fueled robust demand from China and other Asian countries, customs data showed Tuesday.Outbound shipments of makeup products reached US$2.45 billion in 2015, surging 53.1 percent from $1.56 billion a year earlier, according to the data by Korea Customs Service (KCS).The 2015 figure soared more than threefold from $698 million in 2011, with an annual average growth of 36.9 percent over the 20
April 5, 2016
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Retailer enjoys strong demand for products promoted by stars
Korean retail chain operator E-mart said Tuesday its sales of goods produced through collaborations with local pop stars have emerged as a new cash cow on the back of their strong popularity.E-mart, which rolled out different kinds of goods designed under ties with local entertainment agency S.M. Entertainment in March, said the products boasted a combined sales of 850 million won ($739,130) over the one-month period.The retailer had adopted names of top-tier idol groups, including EXO and Super
April 5, 2016
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Lotte E&C under tax investigation
Lotte Engineering & Construction, a construction arm of Lotte Group, confirmed Monday that it is being investigated by the National Tax Service. The tax authorities have been investigating the construction firm since March, reviewing its financial statements of the last three years. This is the company’s first tax probe since 2010 when it was imposed a fine of around 100 billion won ($87 million) for unfair business practices. A Lotte E&C official said, “This is just a regular tax audit.” But th
April 4, 2016
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Samsung Bioepis files lawsuit against AbbVie on Humira patents
South Korean biosimilar developer Samsung Bioepis has filed a lawsuit against the original maker of the world’s top-selling rheumatoid arthritis drug Humira (adalimumab), to make way for the market debut of its Humira biosimilar. The Samsung Group affiliate and its partner and minority shareholder Biogen filed a suit in the U.K. on Mar. 24 challenging a number of patents held by U.S. pharmaceuticals giant AbbVie on Humira. It is the U.S. firm’s top-valued drug, having generated sales of $14 bill
April 4, 2016
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[Photo News] Korean food in the air
KOREAN FOOD IN THE AIR - Celine Balmelle, general manager of Air France-KLM in Korea (far right) and chef Kim Youn-young of Korean restaurant Woonsan (center), pose at Woonsan in Yeouido, Seoul on Monday, with the new in-flight Korean food menu to be offered on Air France’s business class between Paris and Seoul. The new Korean menu includes bibimbap, bulgogi, steamed ribs and spicy stewed chicken. (Yonhap)
April 4, 2016
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Korean Air to begin regular flights to Okinawa
Korean Air, the country’s largest airline, will begin servicing regular flights to Okinawa from Incheon, the company said Monday.Starting May 5, the airline will add seven regular flights a week to the southern Japanese city. Korean AirThe route will be mainly serviced by the 248-seat Boeing 777-200 plane, which is fitted with the luxury Kosmo Suite and Prestige Sleeper. The flight from Incheon to Okinawa takes approximately 2 1/2 hours.Okinawa is one of Japan’s most popular tourist destinations
April 4, 2016
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Mr. Pizza chairman faces police probe over alleged assault
The police has summoned the chairman of MPK Group, which runs the Korean pizza chain Mr. Pizza, over an allegation that he assaulted a security personnel for pulling down the shutter of a building where he was having dinner.Investigators at the Seodaemun Police Station said Monday that they have demanded that MPK chairman Jung Woo-hyun appear for questioning by Thursday. MPK chairman Jung Woo-hyunThe investigators said the chairman was dining at a restaurant owned by his group on Saturday, but
April 4, 2016
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Korea seeks to foster insect industry
From healthy snacks to cosmetics, the government is seeking to expand the use of insects in everyday items through a five-year comprehensive plan released on Tuesday.Calling it a future growth strategy, the Ministry of Agriculture, Food and Rural Affairs said it aims to increase the size of the nation’s insect market to 500 billion won ($436 million) by 2020 from 303 billion won in 2015. To enhance the quality of products and expand distribution channels, the government will encourage farmers to
April 4, 2016
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New red ginseng drink for middle-aged women
The Korea Ginseng Corp. has released a new health drink for middle-aged women going through menopause, the company said Monday.Called “Hwa Ae Rak Jin,” the drink has been approved by the Ministry of Food and Drug Safety for use as a health supplement to alleviate the effects of menopause. Hwa Ae Rak Jin (Korea Ginseng Corp.) Hwa Ae Rak Jin is made from KGC’s signature six-year red ginseng extract, as well as traditional medicinal ingredients like deer antlers and angelica. The red ginseng used i
April 4, 2016
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Asiana Airlines opens Yichang route for 2 months
Asiana Airlines will be operating a route from Incheon to Yichang in Hubei province, China, for two months, the company said Monday.The route will operate Wednesdays and Saturdays until June 1.“The scenery in Yichang is especially beautiful between spring and summer, and the limited-time route will help us to promote the destination to our customers,” a spokesman for Asiana Airlines told The Korea Herald.According to the airline, the addition of the new route is part of Asiana’s efforts to stren
April 4, 2016
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POSCO to build processing center in Indiana
The nation’s top steelmaker POSCO plans to build a new wire-rod processing center in the United States to increase supplies to local carmakers, according to company officials Monday. The company said it would invest around $19 million to build a 34,000-square-meter plant in Jeffersonville, Indiana, with an annual production capacity of 25,000 tons of wire-rod -- a steel product used for premium vehicles.“We aim to supply more parts for premium cars of the U.S. automakers through the new center,”
April 4, 2016
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LSIS seeks entry to U.S. energy storage market
LSIS, a leading Korean electrical components manufacturer, said Monday it is seeking to enter the U.S. energy storage system market, having secured the world’s first certification for its one-megawatt ESS from UL, a U.S.-based global certification company. “The UL-certified ESS will enable our company to compete with other global rivals in the fast-growing market in the U.S.,’’ said Kim Won-il, head of the power grid business division at LSIS. World’s first UL-certified one-megawatt energy stora
April 4, 2016
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Cheap convenience store coffees enjoy growing popularity
Low-cost coffees at Korean convenience stores are increasingly popular among price-conscious consumers, posing a threat to coffee shop franchises, industry data showed Monday.Local convenience stores have served canned coffee and instant coffee with hot water for years, but they are expanding sales of higher-quality drinks through self-serve coffee bars to get a bigger chunk of the rapidly growing market.The nation's top three convenience store chains, which each have over 7,000 outlets nationwi
April 4, 2016
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Online sales jump 22.7% in February
Online shopping sales in Korea jumped 22.7 percent in February from a year earlier on rising demand for tour packages and cosmetics, a government report showed Monday.Total online transactions reached 4.69 trillion won ($4.1 billion) in the second month of 2016, compared with 3.82 trillion won a year earlier, according to the report compiled by Statistics Korea.The February tally, however, retreated 10 percent from January's 5.21 trillion won, marking the second consecutive on-month decline sinc
April 4, 2016
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Business conditions of bars plunge to a 15-yr low in March
The business conditions of local drinking establishments fell to the lowest level in more than 15 years last month, reflecting a protracted slump in the Korean economy, government data showed Monday.According to the data compiled by Statistics Korea, the service industry output index of bars, pubs and other shops selling alcoholic beverages stood at a record 73 in March, marking the lowest since July 2000 when the statistical agency started to compile such data. Bars and pubs in Seoul (Yonhap)Th
April 4, 2016
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Samsung takes up 68% of curved-monitor market
Smsung Electronics accounted for 68 percent of the global curved-monitor market in the fourth quarter last year, data showed Monday, amid the soaring demand from Internet cafes in China.According to the data compiled by Taiwan-based industry tracker WitsView, the Korean tech giant stood as the dominant leader in the segment over the October-December period, trailed by China's HKC and U.S. Dell with 14 percent and 6 percent, respectively. Samsung Electronics headquarters (Yonhap)LG Electronics, S
April 4, 2016
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Booming start-ups face stiffer rules
The nation’s antitrust agency announced changes in its annual watch list Sunday to account for the changing industrial landscape -- dominated for decades by family-controlled conglomerates.Kakao Corp., the operator of the nation’s top mobile messenger KakaoTalk, and Celltrion, a leading biosimilar developer, have been added to the Fair Trade Commission’s 2016 conglomerate watch list with four other newcomers, the watchdog said Sunday.The total number of companies in the latest update has reached
April 4, 2016