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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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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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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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Korean Air, Jin Air to share six more routes
Korean Air and its budget carrier affiliate Jin Air will have six more codesharing routes to offer passenger convenience, Korean Air said Monday.Starting Monday, Korean Air will codeshare with Jin Air on flights from Incheon to Clark in the Philippines, Hanoi in Vietnam, Honolulu in Hawaii and Taipei, as well as flights from Busan to Cebu in the Philippines and Da Nang in Vietnam. The two air carriers will share ticket sales on the same route through a codeshare agreement. On codeshared flights,
March 28, 2016
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[Graphic News] Chicken, beer in Korea cheaper than overseas
The prices of chicken and beer in Korea are relatively cheaper than other countries, said local reports on Monday.The market price of a 500 ml-bottle of locally produced beer is $1.69, considerably lower than those sold in the Maldives and United Arab Emirates where it costs $7.19 and $6.63, respectively. These figures are from a recent survey by numbeo.com, a crowdsourced database of the prices of goods around the world. Korean beer ranks 40th in terms of market price around the world. Germany
March 28, 2016
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SK Planet’s n11.com tops online marketplace in Turkey
E-commerce platform n11.com, operated by a subsidiary of leading mobile operator SK Telecom, topped the online market in Turkey in 2015, the Korean company said Monday.SK Planet, which owns the online marketplace 11st.com here, launched the Turkish version of the site in March 2013. n11.com, SK Planet’s online marketplace in Turkey (SK Planet)“As a latecomer to the industry, we faced tough competition and lacked infrastructure, but we armed ourselves with the mindset of a start-up in the e-comme
March 28, 2016
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Celltrion close to finalizing European sales partners for new biosimilars
South Korean biosimilar developer Celltrion said Monday it is close to striking deals with multiple partners in Europe to lead the local marketing and sales of two new biosimilar drugs, ahead of their expected sales approval in the region later this year. The announcement is aimed at “alleviating uncertainties” over the sales prospects of Celltrion’s biosimilar copies of blockbuster biologic treatments Rituxan (rituximab) and Herceptin (trastuzumab), the firm told The Korea Herald.Truxima, Cellt
March 28, 2016
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Hanmi Global chief joins 100 best-performing CEOs in Korea
The head of Hanmi Global, a construction management company, joined the list of the 100 best-performing CEOs in Korea released by business magazine Maekyung Economy. He has been named on the list for 11 straight years.Chairman Kim Jong-hoon, who adopted construction management programs for the first time in Korea in 1996, has gained a reputation for growing the company into a leading construction management firm with a global presence in 48 nations. Hanmi Global’s chairman Kim Jong-hoonKim is
March 28, 2016
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Samsung's new Galaxy-upgrade service enjoys popularity in Korea
Samsung Electronics said Monday nearly one out of three local consumers of the Galaxy S7 series are opting for its new membership-based warranty service dubbed "the Galaxy Club" that provides users with new Galaxy smartphones every year.The Korean firm said around 30 percent of the Galaxy S7 series buyers chose to subscribe to the Galaxy Club for a monthly fee of 7,700 won ($6.57). The figure only includes the smartphones sold at official Samsung Electronics shops in Korea. Samsung Galaxy S7 (Yo
March 28, 2016
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Shinsegae to open first Starfield complex in Sept.
Shinsegae to open first Starfield complex in SeptBy Won Ho-jungShinsegae Group, one of the nation’s major retail giants, plans to open a shopping complex -- the first under its new Starfield brand -- in September in Hanam, Gyeonggi Province, the group said Monday.Named personally by Shinsegae Group vice chairman Chung Yong-jin, Starfield represents Shinsegae’s vision for creating a “shopping theme park” that offers both shopping and entertainment to visitors. “Customers no longer focus only on b
March 28, 2016
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Department store sales inch upward after two-year slump
Department stores saw rising sales early this year after two years of stagnant growth, according to department store data Sunday.Hyundai Department Store announced that it had posted 4.6 percent on-year growth in sales over the first three months of the year, while Lotte Department Store‘s sales grew 4.2 percent on-year.(123rf)The unusual increase in sales in the early months is partly due to the late surge in winter fashion revenue brought on by a late winter, according to industry watchers.Sal
March 27, 2016
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[Photo News] KCCI, AFDB leaders meet in Seoul
KCCI, AFDB LEADERS MEET IN SEOUL - Park Yong-maan (right), chairman of the Korea Chamber of Commerce and Industry, poses for a photograph with Akinwumi Adesina, president of the African Development Bank, after discussing the economic cooperation of both organizations at the KCCI office Sunday.
March 27, 2016
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[Graphic News] Rice farming revenue falls despite rising efficiency
The revenue earned from rice farming in Korea fell 6.1 percent on-year despite lowered production costs and increased yields in 2015, data from Statistics Korea showed Friday.Production costs for paddy rice fell 4.1 percent from 721,000 won ($616) to 692,000 won per 1,000 square meters in 2015, due to reduced spending on labor and equipment. Despite this, the yield rose from 520 kilograms to 542 kilograms per 1,000 square meters. However, rice farmers saw their total revenue decline because of a
March 27, 2016
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Myeong-dong’s zeal for Chinese tourists pushes out locals
Myeong-dong is one of the liveliest neighborhoods of Seoul, constantly abuzz with the sounds of shop owners calling out to potential customers, the rustle of shopping bags, cars honking and, last but not least, shoppers chattering -- in Mandarin.Although Myeong-dong is considered a landmark of Seoul, the majority of the shoppers are clearly not from Korea.“Chinese tourists make up about 60 percent of the shoppers,” said Lee Dong-hee, the director of the Myeong-dong Tourism Special District Assoc
March 27, 2016
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Insurers most profitable among Korean financials in 2015
Insurance companies raked in the most profits in the financial sector last year, largely boosted by investment-related earnings and non-operating profits, industry data showed Sunday.The combined net incomes of Korean insurers stood at 6.3 trillion won in 2015, followed by 3.5 trillion won for banks and 3.2 trillion won for securities firms, according to preliminary earnings reported to the Financial Services Commission and regulatory filings with the Financial Supervisory Service.Banks suffered
March 27, 2016
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E-mart tries to bridge online-offline divide
Discount store chain E-mart is using its smartphone app to provide benefits for visitors to its offline stores, the company said Sunday.Customers who open the app while connected to in-store wireless internet until April 6 will receive a 2,000-won coupon. E-mart holds a location-based promotion through its mobile application. (Emart)The promotional event is designed to show customers how using the mobile E-mart app could enhance their offline experience, the company said.The brand is also plann
March 27, 2016
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Prosecutors start probe to determine if VW cheated on emissions
South Korea's state prosecutor's office said Sunday that it has launched a probe to determine if German carmaker Volkswagen AG (VW) cheated on its emissions tests for its latest engine model.The local government has not been able to reach a conclusion on the matter as the "diesel gate" scandal has rocked the international automotive industry and South Korea's domestic car market. Volkswagen, with its lineup of diesel engines, has carved out a large chunk of South Korea's import car segment."The
March 27, 2016
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Brokerages lower Q1 profit outlooks for Samsung Electronics
Major securities companies in South Korea have lowered their first-quarter operating profit outlooks sharply for Samsung Electronics Co., citing bleak business conditions in key areas, including semiconductors and home appliances, data showed Sunday.According to an analysis by industry tracker FnGuide of projections made by 24 brokerages as of Thursday, Samsung Electronics is expected to log 5.17 trillion won ($4.4 billion) in operating profit on average during the January-March period.The marke
March 27, 2016
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Samsung's Lee, Chinese VP discuss business on chip, car battery
Samsung Group vice chairman Lee Jae-yong met with Chinese Vice Premier Wang Yang this week and discussed Samsung's businesses in China ranging from semiconductors to car batteries, Samsung officials said Saturday. The meeting between Lee and Wang took place at the Zhongnanhai leadership compound on Friday, the Chinese unit of Samsung said in a statement. Lee and Wang "exchanged views about investment into high-tech industrial sectors, including semiconductor, LCD and car battery," the statement
March 26, 2016
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Asiana to pay $55 mln settlement in fuel price-fixing case
Asiana Airlines said Friday that it has agreed to pay a $55 million settlement in a fuel surcharge price-fixing case, ending a decade-long anti-trust class action lawsuit against South Korea's second-largest carrier. Asiana said in a regulatory filing that the U.S. District Court for the Eastern District of New York approved the settlement. The airline said it reached a deal with U.S. cargo companies to address increased costs and the burden of the defense of a protracted lawsuit, though it
March 25, 2016
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[Weekender] Aiming for the moon
SEOUL/DAEJEON -- Despite several early failures, Korean engineers and scientists are poised to leap into space, hoping to realize the country’s long-cherished goal of reaching the moon.Following a late start, Asia’s fourth-largest economy went through many challenges to develop its own launch vehicle, which is key to the nation’s space project.The efforts have paid off as Korea is now on the threshold of a new era in space technology, with its first lunar exploration planned for 2020. It is a ma
March 25, 2016
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Doosan ties with KEPCO for wind power business
Doosan Heavy Industries & Construction, one of Korea’s leading power equipment makers, signed a memorandum of understanding with state-run Korea Electric Power Corp. on Friday to jointly tap the wind power market overseas.Yang Won-chang (left), Doosan Heavy Industries & Construction’s new business development division head, and Lim Cheong-won from the Korea Electric Power Corporation pose after signing a memorandum of understanding, forming a partnership on Friday for wind-power plant projects o
March 25, 2016
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Daelim heir apologizes for mistreatment chauffers
APOLOGY – Lee Hae-wook, vice chairman of Daelim Industrial of Daelim Group, apologizes for alleged gross mistreatment of his chauffers at the company’s shareholders’ meeting in Seoul on Friday. Lee, who is the group’s heir, said that the scandal was due to his negligence. Yonhap
March 25, 2016