Most Popular
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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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Yoon set for talks with Marcos in Philippines
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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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First lady’s Dior bag scandal to be at center of Assembly audit
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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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Firefighters’ 3,000 won meals spark nutrition concerns
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Yoon honors veterans of Korean War in trip to Philippines
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‘Aging, digitization boon for GE Healthcare’
GE Healthcare Korea president and CEO Sia Moussavi talks to The Korea Herald at his office in southern Seoul. Chung Hee-cho/The Korea HeraldDespite the global economic slowdown, GE Healthcare Korea, the local biotechnology and health care devices unit of conglomerate General Electric, remains upbeat about its business prospects thanks to the booming biotech and pharma sectors. “Korea’s demand in health care is pretty strong with its rapidly aging population. By 2030, 25 percent of the populatio
Feb. 22, 2016
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Public calls grow for fuel tax cuts
Although global oil prices have plunged to record-lows, many drivers in South Korea say they have not benefited from the corresponding falls in their daily fuel costs.An insignificant decline in local gasoline prices in an era of persistently low crude prices has led to growing public calls for the government to alter its taxation system. The current scale and method of levying taxes on oil products prevents local retail fuel prices from falling in line with major drops in crude prices.(Yonhap)
Feb. 22, 2016
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LG Chem to supply batteries to Chrysler
Korean chemicals and battery-maker LG Chem said Monday it will be supplying lithium-ion batteries to Fiat Chrysler Automobiles’ new minivan. LG Chem will provide the 16-kilowatt-hour battery pack and control system for Chrysler Pacifica Hybrid minivan. The company did not elaborate on other details. LG Chem has manufactured battery packs at its American factory in Michigan, which integrate lithium-ion cells with electronic components and control software for the new minivan. In January, Fiat Chr
Feb. 22, 2016
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Samsung, SK hynix post record mobile DRAM market share
Korean chip giants Samsung Electronics and SK hynix posted a record share of the global mobile dynamic random access memory market in the fourth quarter of 2015, data showed Monday.According to the data compiled by DRAMeXchange, Samsung Electronics had a 58.2 percent market share, followed by SK hynix with 26.1 percent.It marked the third consecutive quarter for the Korean firms to set a new record with their combined market shares.U.S.-based Micron Technology was next with 14.3 percent in the f
Feb. 22, 2016
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SK Group seeks M&As to bolster pharma business
South Korea’s SK Group is pushing forward strategic mergers and acquisitions to bolster its pharmaceutical business, considered one of the key industries to lead the conglomerate’s future growth. SK Holdings is close to finalizing its selection of at least two global contract manufacturers of active pharmaceutical ingredients (API) used in pharmaceutical production, presumably midsized firms from Europe and North America, for acquisitions, according to news reports and industry sources on Sunday
Feb. 21, 2016
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Lotte founder‘s elder son eyes holding firm’s listing
The former vice president of Tokyo-based Lotte Holdings on Friday said he will push for the listing of the de facto holding company of Lotte Group on the Japanese bourse and give its shares to all employees if he becomes the new chief. Shin Dong-joo, the oldest of 94-year-old Lotte founder Shin Kyuk-ho’s two sons, made the offer to win support from employees ahead of an emergency shareholders meeting he convened to fire the current board of directors and reelect new executives. Shin Dong-jooThe
Feb. 19, 2016
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Unionized pilots of Korean Air vote for strike
Unionized pilots of South Korea‘s No. 1 flag carrier Korean Air Lines Co. voted for a strike Friday, providing legal grounds for them to engage in labor disputes anytime that could disrupt the country’s air transportation.In a vote held for weeks, 1,106 workers of the airline company‘s pilot union members said “yes” to going on strike after their leaders and company representatives failed to iron out differences on wages and other working conditions. Unionized pilots of Korean Air hold a rally
Feb. 19, 2016
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[Consumer This Week] Jill Stuart, Adidas, Clio, Stokke, True Religion
Jill Stuart releases new beauty productsJill Stuart is set to release a new beauty line, consisting of body washes and shampoos with aromatic fragrances, in mid-February, the company said specifying on an exact date. Inspired by floral scents, Jill Stuart’s Relax Line uses a combination of lily and jasmine fragrances, as well as other natural aromatic oils. The products include shower gel, body milk, shampoo, hair conditioner and oil, and are offered in two types: “Aromatic White Floral Bouquet
Feb. 19, 2016
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LG Electronics to apply Danish audio on G5
(Yonhap)LG Electronics Inc. said Friday it has joined forces with a Danish-based audio firm to provide better sound-related features on its smartphones, including the upcoming flagship G5.The South Korean tech firm said the G5 smartphone will come with Bang & Olufsen's stereo to provide premium sound on the new device. LG and Bang & Olufsen said they have developed what they call "hi-fi" audio technology that will deliver high-quality sound on mobile devices.The announcement follows another offi
Feb. 19, 2016
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Lotteria releases limited sets of Majjam Burger
Lotteria, a major Korean fast food chain, plans to release the Majjam Burger, a new burger line that maximizes on the flavor of jjamppong, starting Friday. Jjamppong refers to a Chinese-style spicy noodle dish, which has recently gained popularity in the instant noodle market.The new product consists of a jjamppong-flavored patty made of seafood and two sets of compressed noodles that hold the patty like a bun, with onions and cabbage inside the burger. Lotteria plans to sell 500,000 burgers pri
Feb. 19, 2016
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Kuho releases new formal suit line
Kuho, a leading fashion brand of Samsung C&T Fashion Group, has released a new formal suit line for career women pursuing practical but unique office wear.Named “Edit Line” it targets young office workers who want to experiment with new but comfortable suit wear, away from the tradition office look presented by long jackets in combination with skirts and pants.After conducting thorough market analysis, Kuho has created the new line that can be customized and is comfortable and practical at the s
Feb. 19, 2016
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Brick-and-mortar supermarkets strive to win back online customers
Large supermarkets which are facing intense competition from e-commerce operators are striving to win back customers by providing what online stores cannot -- vivid on-field shopping experience at a brick-and-mortar outlet. From selling insurance policies and rent-a-car to creating an “all-around shopping complex,” off-line vendors are keeping up with the trend, but spicing the atmosphere with the “one and only experience.” E-mart Town in Goyang, Gyeonggi Province (Yonhap)Lotte Mart, the large s
Feb. 18, 2016
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Han Sung Motor celebrates 5th year of Dream Gream Project
Han Sung Motor on Wednesday kicked off the fifth year of its corporate social responsibility program, the Dream Gream Project, which nurtures young artists. “I can proudly say that we have had many meaningful changes and developments. About 30 artists we have had passed down their expertise, and have been contributing a lot to the students’ future,” said Dr. Ulf Ausprung, chief executive of Han Sung Motor, at a ceremony to mark the fifth anniversary of the program held at The K- hotel on the day
Feb. 18, 2016
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Hyundai Group chairwoman to buy W30b worth shares in shipping arm
Hyundai Group chairwoman Hyun Jeong-eun said she would donate some 30 billion won ($24.4 million) of her personal funds in a bid to revive her group’s cash-strapped shipping unit Hyundai Merchant Marine, the firm said Thursday. Hyundai Group chairwoman Hyun Jeong-eun“We have decided to raise share capital by issuing 6 million shares (at 5,000 won apiece) through a third-party allotment,” Hyundai Merchant Marine said in a regulatory filing. Hyun and her mother Kim Moon-hee will buy around 30 bil
Feb. 18, 2016
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SM Entertainment subsidiary eyes IPO in China
The Chinese arm of South Korea’s biggest entertainment agency, SM Entertainment, is expected to list its shares in China following its partnership with Alibaba, a local brokerage said Thursday. EXO (SM Entertainment)The K-pop giant established two corporate entities, in Beijing and Shanghai -- both 100 percent owned by SM Entertainment -- through its subsidiary Dream Maker Entertainment in late 2015. “Dream Maker has the possibility to go public on the stock market in mainland China or Hong Kong
Feb. 18, 2016
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Korea’s service industry has more scope for growth
Korea’s service industry has expanded at a rapid pace in recent years, accounting for an increasing portion of growth.A recent study by the Korea International Trade Association showed the rate of the services sector’s contribution to the country’s economic growth rose from 37.2 percent in 2010 to 52.9 percent in 2013. Over the cited period, the corresponding figure for the manufacturing industry declined from 54.8 percent to 35.4 percent.Compared with other advanced economies, however, it still
Feb. 18, 2016
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Kia Motors faces class-action suit for defect in Sorento
Nearly 340 people have joined a class-action lawsuit against Kia Motors Corp. for a defect in its Sorento sport utility vehicle, demanding compensation for cost and losses caused by rust in its seat frame, their legal representatives said Thursday.After the Sorento model subject to the lawsuit, which was produced in 2014, drew complaints from its customers, Kia Motors provided free repair for cars brought to its service centers. However 192 owners took legal action in late October, claiming that
Feb. 18, 2016
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Hyundai Motor's sales in India up 9.3% in January
Hyundai Motor, Korea's leading automaker, saw its January sales in India grow over 9 percent on-year thanks in part to robust demand for the Creta crossover SUV, industry data showed Thursday.According to the data by the Society of Indian Automobile Manufacturers, Hyundai Motor sold a total of 38,016 cars in India last month, up 9.3 percent from a year earlier. Its market share there also increased by 1.3 percentage points to 16.5 percent over the same period, the data showed. The brisk January
Feb. 18, 2016
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Flexible display market to leap forward in 2016
The global market for flexible displays is expected to grow sharply in 2016, data showed Thursday, as more industry players are rushing to jump into the curved and foldable electronics panel market.According to the data compiled by industry tracker IHS, the world's flexible display market is estimated at $5.36 billion in 2016, soaring from $2.4 billion last year. The shipment by volume is also set to rise twofold to 122 million units from the 55 million posted last year. Samsung flexible display
Feb. 18, 2016
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[Newsmaker] Heiress’ new role could reshape Shinsegae
Like other chaebol daughters in South Korea, Chung Yu-kyung has stayed under the shadow of her elder brother Chung Yong-jin, heir apparent of the Shinsegae Group. Leading trendy but smaller units like hotel and bakery businesses for years, the only daughter of group chairwoman Lee Myung-hee has been standing out in the succession race for a long time. A recent promotion that placed her on the top of Shinsegae’s department store business, however, has quickly turned around this traditional idea.
Feb. 17, 2016