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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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Ex-president's daughter investigated for drunk driving accident
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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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First lady’s Dior bag scandal to be at center of Assembly audit
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Online fashion brand Bariedition lures K-pop fans
Bariedition, a local online fashion brand (http://en.bagazimuri.com/) is luring K-pop fans around the world with chic Korean fashion style. CEO Son Suk-ho started the business in 2005 and there were only five employees at the beginning. Now the number of employees has surged to 50 and its monthly revenue has exceeded 1 billion won ($890,000). Its offline store, located on the trendy fashion district of Garosu-gil, southern Seoul, has also become a popular tourist spot especially among visitors f
June 25, 2015
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Elliott aims to exert votes by proxy to fight Samsung's merger bid
U.S. hedge fund Elliott Management said Wednesday it hopes minority shareholders will give their proxy votes to the fund for its fight against Samsung Group‘s move to merge two key units.Samsung C&T Corp., the construction arm of South Korea’s top conglomerate, Samsung Group, has been embroiled in a legal battle with Elliott since early this month as the fund voiced its opposition to an 8.9 trillion won ($8.09 billion) takeover offer by Cheil Industries Inc., the de facto holding firm of the con
June 24, 2015
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[Herald Interview] Korea urged to set ambitious climate target
The international community is concerned about Korea’s possible retreat from its emissions reduction drive based on the four options proposed by the government for the post-2020 target.The government announced four options on June 10 to finalize Korea’s emission target by the end of this month. It plans to submit one target -- after a public consultation process -- to the U.N. before the Paris Climate Change Conference from Nov. 30-Dec. 11. “(Regarding the expectation for Korea’s post-2020 emiss
June 24, 2015
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Online fashion brand Bariedition lures K-pop fans
Bariedition, a local online fashion brand (http://en.bagazimuri.com/) is luring K-pop fans around the world with chic Korean fashion style. CEO Son Suk-ho started the business in 2005 and there were only five employees at the beginning. Now the number of employees has surged to 50 and its monthly revenue has exceeded 1 billion won ($890,000). Its offline store, located on the trendy fashion district of Garosu-gil, southern Seoul, has also become a popular tourist spot especially among visitors f
June 24, 2015
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Hyundai Life ties up with Taiwan’s Fubon
Hyundai Life Insurance CEO Lee Joo-hyuk announced Tuesday that it has established a strategic alliance with Taiwanese Fubon Life Insurance, a subsidiary of Taiwan’s Fubon Financial Holdings.Fubon Financial Holdings is a leading financial group in Taiwan with assets of 200 trillion won ($180 billion), and owns life and fire insurance firms and banks.Fubon Life Insurance has been selected as Taiwan’s best insurance company for three consecutive years and achieved a net profit of 1.3 trillion won l
June 24, 2015
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S. Korea's int'l passenger traffic jumps in May
South Korea's international air passenger traffic jumped more than 20 percent in May from a year earlier on higher demand for air travel, government data showed Wednesday. The number of international travelers to and from South Korea soared 21.3 percent on-year to 5.44 million, according to the data compiled by the Ministry of Land, Infrastructure and Transport. The country's overall air passenger traffic spiked 23.9 percent to 8.03 million, with the number of domestic passengers also surging 29
June 24, 2015
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Hyundai E&C wins $720 mln deal from East Timor
Hyundai Engineering & Construction Co., South Korea's No. 2 builder, said Wednesday that it has won a deal to build a seawall and other facilities in East Timor for around $720 million.The deal, which was initiated by the East Timor government, was jointly clinched by its affiliate Hyundai Engineering Co., the builder said in a regulatory filing. This marked the first contract that the company has ever won from East Timor.Under the contract, the two units of Hyundai Motor Group will build a seaw
June 24, 2015
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Ex-presidential aide tapped to lead Pantech's potential buyer
South Korean optical manufacturer Optis Co., which is in talks to acquire cash-strapped smartphone maker Pantech Co., said Wednesday it has named a former presidential aide as its new head.Optis said it has named Byeon Yang-kyoon, a former presidential chief secretary for national policy, as the new chief. Byeon worked under late President Roh Moo-hyun in 2006.Last week, a Seoul court approved the Optis-led consortium's bid to sign a memorandum of understanding for acquisition with Pantech. The
June 24, 2015
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[Newsmaker] NPS pressed on corporate reform
The National Pension Service, the nation’s largest institutional investor, is facing growing pressure to raise their voice in merger plans being pushed by conglomerates.On Monday, Solidarity for Economic Reform, a civic group pushing for reforms of family-controlled South Korean conglomerates, or chaebol, urged the fund to review the merger plan between SK Holdings and SK C&C and to decide whether to back or veto the deal before a shareholders meeting Friday. The merger plan between the two SK a
June 23, 2015
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[Graphic News] Korea’s growth engine technology 3.8 years behind U.S.
South Korea’s technology level in its chosen growth engines is 3.8 years behind that of the United States, a ministry report found Tuesday.According to the Ministry of Science, ICT and Future Planning, there are 13 new growth engines that it would focus on developing, including 5G mobile communications, smart cars, intelligent robots, smart disaster safety management systems and the Internet of Things.However, when the ministry compared Korea’s technology in these sectors are compared to that of
June 23, 2015
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Samsung heir apologizes over MERS handling
Samsung Electronics vice chairman Lee Jay-yong, the de facto leader of Samsung Group, Tuesday offered an official apology after a Samsung-affiliated hospital was blamed for being the epicenter of the spread of Middle East respiratory syndrome here. “I offer my sincere apology and deep regrets to the patients, bereaved families and all others who have suffered from the disease,” Lee said during a televised news conference after making a deep bow to the public. “My father is also hospitalized at t
June 23, 2015
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[SUPER RICH] Korean cosmetics guru eyes young consumers to gain momentum
Charmzone chairman Kim Kwang-seok has returned to what he is good at: Making face cream.His skincare company -- once the dominant player in the Korean cosmetics market -- is seeking to get back on track with its newly launched antiaging cream. Charmzone chairman Kim Kwang-seok (Charmzone)“Cosmetics has become a daily necessity. I will start from the beginning to regain lost time and consumers,” the pharmacist-turned-entrepreneur said in an interview with The Korea Herald. The 31-year-old company
June 23, 2015
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Hyundai E&C banks on ‘zero-energy’ technology
YONGIN, Gyeonggi Province ― Electrical appliances and lights switch on and off, while the balcony doors slide open, all by themselves in an empty house. This is not science fiction, but reality at Hyundai Engineering & Construction’s Green Smart Innovation Center in Yongin, Gyeonggi Province.However, rather than user convenience, the technologies behind such features were developed as part of the company’s plans to cut fossil use in housing, buildings and public infrastructure.Hyundai E&C, the c
June 23, 2015
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[SUPER RICH] News aggregators who rose to prominence
News aggregation sites are on the rise.These websites don’t produce much original content, instead bringing in famous columnists or aggregate preexisting news and add videos or photos to the story.News aggregating websites have grown in the past few years, and have been sold for enormous sums or attracted large-scale investments.Arianna Huffington, founder of The Huffington Post (Bloomberg)Arianna Huffington – The Huffington PostThe Huffington Post is one of the first media companies to introduc
June 23, 2015
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Samsung heir apologizes over MERS outbreak at its hospital
Lee Jae-yong, heir apparent to South Korea's top conglomerate Samsung Group, offered an apology Tuesday over a massive outbreak of Middle East Respiratory Syndrome at a group hospital, pledging support for the quick containment of the viral disease.Samsung Medical Center in southern Seoul has been blamed as a major source of infections and has voluntarily shut down most of its operations after nearly half of all transmissions occurred there. Samsung Electronics vice chairman Lee Jay-yong apologi
June 23, 2015
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Hyundai Motor offers W1.7 tln to city for headquarters construction
Hyundai Motor Group, the world's fifth largest auto-making giant, said Tuesday that it has offered to pay about 1.7 trillion won ($1.54 billion) in public contribution to the Seoul city government in connection with the construction of a 115-story new headquarters building.In September, the parent group of Hyundai Motor Co. and Kia Motors Corp. purchased the 79,345-square-meter piece of real estate that previously housed the main headquarters of state-run Korea Electric Power Corp. in Gangnam, t
June 23, 2015
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Businesses propose recovery plans
The nation’s business community called for action plans to revitalize the sagging domestic economy, hit by the recent outbreak of Middle East respiratory syndrome.“Business leaders brought in those ideas, with MERS fears dragging down the sagging domestic economy,” said Park Yong-maan, chairman of the Korea Chamber of Commerce and Industry.According to a recent survey conducted by the KCCI, a growing number of Korean companies, especially small and self-employed businesses, felt a financial pinc
June 22, 2015
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Oil prices rise with focus on Greece, Iran
Oil prices rose on Monday as dealers focused on crunch Greek debt talks and a possible return of Iranian supplies to the market. US benchmark West Texas Intermediate for July delivery gained 56 cents to $60.17 a barrel compared with Friday's close. Brent North Sea crude for August won 54 cents to $63.55 a barrel around midday in London."Hopes that agreement could be reached in the debt dispute with Greece at today's EU summit are lending buoyancy to oil prices as the new week begins," said Com
June 22, 2015
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[Photo News] High-tech Innovation
Solvay Group CEO Jean-Pierre Clamadieu (left) and the Korean unit head Pyung Suk-koo on Monday vowed to focus on the Korean market as the center of research for high-tech materials, at a news conference to celebrate the group’s 40th anniversary since launching in Korea. (Solvay Korea)
June 22, 2015
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Hite Jinro fined for false advertisement against rival
The antitrust watchdog said Monday that it handed down a 143 million won ($130,000) fine to Hite Jinro, the nation’s largest distiller of soju, for holding a false advertisement campaign against its rival.Hite Jinro handed out fliers and banners between March and May 2012, accusing Lotte Chilsung Beverage’s Cheoeum-Cheoreom soju of being improperly distilled, according to the Fair Trade Commission.From its first launch back in 2006, Cheoeum-Cheoreom had swiftly grown popular among consumers, cat
June 22, 2015