Most Popular
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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'Culinary Class Wars' producers deny trying to spice up results
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Ex-president's daughter investigated for drunk driving accident
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Netflix, streaming platforms come under fire for loose ratings
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S. Korea, Singapore seal supply chain agreement
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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20 minors registered as CEOs making over 100 million won
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Yoon honors veterans of Korean War in trip to Philippines
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K-pop CEOs sidestep key issues at National Assembly audit
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Universities wrong to resist new assessments
Kim Byoung-jooI simply could not believe my eyes when once again I saw in the news that university students were boycotting the college rankings issued by the local press. This is nothing new, and this time, I wanted to point out why they are making a big mistake. Contrary to what we would like to believe, Korea’s business community has no patience for the so-called SKY (Seoul National University, Korea University, Yonsei University) graduates. Perhaps it is because the students lack the incenti
Oct. 1, 2014
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Buying from foreign sites continues to rise
Whenever Kim Mi-sun, 36, who works at a local credit card company, wants to shop, she makes a beeline for foreign websites before she visits the offline stores. “I purchase almost all commodities, from beauty products to shoes, appliances and even blankets, through these online brand shops,” Kim said. She is a so-called “jikgu” customer, a Korean term coined from two words meaning “direct purchases.” These shoppers tend to shop directly from the websites operated by the brands they are looking f
Oct. 1, 2014
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Samsung chairman now able to sit in wheelchair: sources
Lee Kun-hee, the de facto head of Samsung Group who has been hospitalized since May after suffering a heart attack, has reportedly recovered enough to be able to sit in a wheelchair, business sources said Wednesday.Lee is now able to move a short distance seated in a wheelchair, according to the sources. The last official comment from Samsung on Lee’s condition had been in June when the company said he was awake for seven to eight hours a day.“All we can say is that the chairman is recovering,”
Oct. 1, 2014
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Fire at Hankook Tire not expected to disrupt normal production
The fire that broke out at Hankook Tire Co.'s Daejeon plant is not expected to disrupt production since the damage is mostly to its warehouse, the company said Wednesday. South Korea's largest tiremaker said a fifth of the warehouse, located some 160 kilometers south of Seoul, was lost in the inferno along with some 180,000 tires. The warehouse held products destined for both domestic and overseas markets. "The production line has not been damaged in any way and workers have reported to work tod
Oct. 1, 2014
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[Graphic News] Korean-made luxury cars regain 30% market share
South Korean premium cars have regained a 30 percent market share at home, according to data provided by the Korea Automobile Manufacturers Association and the Korea Automobile Importers and Distributors Association. Locally made cars accounted for 32.9 percent, or 47,119 units out of 143,123 premium vehicles ― those with a sticker price of over 40 million won ($ 37,850) ― sold in the first eight months of 2014.The rise was thanks to strong demand for Hyundai Motor’s brand new Genesis sedan, whi
Sept. 30, 2014
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Unrivaled luxury at Qatar’s new airport
DOHA ― An amalgam of odors from fresh materials lingered at Hamad International Airport, Qatar’s new gateway that opened on May 27. The odor gently blended in with the genuine European leather that was used on the airport couches to create an aroma that reminded one of being inside a luxury sports car.“Since long layovers are typical for travelers using the airport and many flights depart after midnight, the terminal is designed for a more relaxing and luxurious stay,” said an official of Qatar
Sept. 30, 2014
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High-end suit brand offers smart solutions
Cheil Industries, an affiliate of Samsung Group, unveiled on Tuesday the updated version of Rogatis, its high-end men’s suit line, adopting smart solutions for the first time in the local fashion industry. “Rogatis, whose target customers are businessmen aged between 35 and 44, has been renewed in a bid to pioneer a ‘smart suit’ category in the fashion industry,” the firm’s vice president Choi Hoon, who supervised the project, said during a launch event at the Hilton hotel in Seoul. Inside a Rog
Sept. 30, 2014
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Missha opens two new stores in Kazakhstan
Local budget cosmetic brand Missha has recently opened its ninth and 10th branches in Kazakhstan, its mother company Able C&C said Monday. The ninth store is located inside APORT Mall, while the 10th opened in Mega Park, both in Kazakhstan’s largest city of Almaty. “Both locations are frequented by locals and foreigners. A success in Kazakhstan will give us a leg up in the Central Asian market,” said Lee Gwang-sup, a company official. BB Cream ― the company’s signature best-seller, has been spea
Sept. 30, 2014
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Samsung Heavy to build first overseas facility
Samsung Heavy Industries, a global leading shipbuilder, will spend 1 trillion won ($950 million) to build the company’s first overseas shipyard by 2017 as a part of its plans to revamp manufacturing operations, according to a high-ranking Samsung official. The South Korean company is hoping to cut costs by producing lower-margin vessels at the overseas yard, while its domestic operations focus on upstream oil and gas projects. “We believe there will be demand for offshore oil and gas projects in
Sept. 30, 2014
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Hyundai Motor agrees on pay raise
Hyundai Motor, South Korea’s largest automaker, said Tuesday it has reached a tentative agreement with its labor union on this year’s pay increase 119 days after the start of negotiations. On Wednesday, the labor union plans to hold a vote on whether to approve the agreement signed late Monday at the carmaker’s main production plant in Ulsan.Under the agreement, unionized workers and management will set up a special pay system and standard wage reform committee that will tackle the tricky issue
Sept. 30, 2014
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Top-tier Italian eatery brands to open Seoul outlets
Cafe Milano Korea CEO Park Ji-hoon (center) signs an agreement on opening high-end diners with Salvatore de Riso business manager Sartoria de Luca (left) at a Seoul hotel on Tuesday.Cafe Milano Korea on Tuesday unveiled its plans to open a total of four high-end Italian-brand restaurants here in the near future. Park Ji-hoon, chief executive of Cafe Milano, said the outlets will be a restaurant called Cafe Milano, a bakery named Salvatore de Riso and two pizzerias ― Gino Sorbillo and Presidente
Sept. 30, 2014
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Korea to dish up Asia’s first food cluster
South Korea is pushing ahead with building Asia’s first food cluster, Foodpolis, to tap into the global food industry, which is expected to be worth up to $6 trillion by 2020. The nation plans to invest 553 billion won ($524 million) in setting up the cluster by 2016. It is currently in talks with up to 160 domestic and foreign companies, colleges and research centers that are vying for a spot at Foodpolis. It has been roughly modeled after Napa Valley, California’s famous wine country, but Food
Sept. 30, 2014
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Korean Air operates food truck in downtown Houston
Korean Air Lines, South Korea’s largest full-service carrier, said Tuesday that it is operating a food truck in downtown Houston to showcase some of its favorite meals served on international flights.The truck will serve 250 meals per day during lunch hours at the so-called energy corridor of the city near the headquarters of General Electric Oil and Gas and Chevron Corp., the company said.For the meal service, which kicked off Monday and runs through Oct. 26, the airline plans to serve 100 bowl
Sept. 30, 2014
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POSCO Plantec wins $17m overseas steam generator order
POSCO Plantec, the industrial plant building arm of South Korea’s No. 1 steelmaker, POSCO, said Tuesday that it has won a $17 million order from French power solution provider Alstom S.A. to make two heat recovery steam generators.The modules are critical systems used in combined cycle power plants that help harness super-heated gases coming out of gas turbines and transform them into usable energy.The company said the pair of 4,300-ton generators will be built at its main plant in Ulsan, 414 ki
Sept. 30, 2014
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KFS, Algeria join hands to tackle deforestation
The Korea Forest Service is joining forces with Algeria to work together on global reforestation.The KFS and Algeria’s Ministry of Agriculture and Rural Development recently held the first Korea-Algeria Forestry Cooperative Committee to discuss restoring forests and parks in the African country.“Although the cooperation is only in the initial stage, we believe that South Korea’s experience and technology will be highly useful in modernizing Ben Aknoun Amusement Park in Algeria and recovering the
Sept. 29, 2014
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Car sharing gains ground
Car sharing, a form of short-term vehicle rental on an hourly or minute basis, is gaining popularity in major Korean cities as more individuals are recognizing it as a sustainable means of urban transportation.Further adding to the momentum, the Seoul Metropolitan Government in February launched a pilot car sharing service, dubbed Nanum Car (meaning “sharing” in Korean), to reduce the number of cars on the road as well as ease households’ financial burdens linked to car ownership.“Membership for
Sept. 29, 2014
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Philip Morris donates W100m to charity
Philip Morris Korea’s head Chung Il-woo (left) poses with Ahn Yoon-han, chief of a scholarship center in Yangsan, at Philip Morris Korea’s plant. (Philip Morris Korea)Philip Morris Korea said Monday that it had donated 100 million won ($95,000) to a scholarship center in Yangsan as part of its social responsibility activities. The company said the scholarships will be given to middle and high school students who show academic promise. The regional scholarship center was established in 2006 in a
Sept. 29, 2014
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POSCO develops powerful corrosion-resistant steel
South Korea’s largest steelmaker POSCO on Monday said it has developed a super corrosion-resistant stainless steel product that can be used to make steam condensers for nuclear power plants.The new product can be used to make special pipes for reactors, through which sea water flows to cool hot steam generated from the nuclear reactor. The steam generated by the reactor turns turbines that makes electric power.The steelmaker said the material, developed in cooperation with a research team led by
Sept. 29, 2014
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[SUPER RICH] Lotte, Shinsegae turn to alcohol sector
It seems the heads of Lotte and Shinsegae, the country’s two leading retailers, are both smitten with the same item ― alcohol. These two market competitors are advancing into the local alcohol business, which is growing rapidly thanks to the diversification of customer demand and easing government regulations. Lotte serious about wine Lotte Liquor ― part of Lotte Chilsung Beverage, an affiliate of Lotte Group ― is in search of a facility measuring at least 1 square kilometer to open a premium wi
Sept. 29, 2014
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[SUPER RICH] Asia’s top 10 billionaires
Everybody knows that there are billionaires living among us, but it’s hard to determine just how many billionaires there are, where they gravitate to and exactly how they make their piles. To address these questions, Wealth-X, a Singapore-based asset information provider, and Switzerland-based UBS have released comprehensive data on the composition and dynamics of the world’s most affluent group of people since 2013.The Korea Herald Investigative Team looked into their reports ― the Wealth-X and
Sept. 29, 2014