Most Popular
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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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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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K-pop CEOs sidestep key issues at National Assembly audit
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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[SUPER RICH] Starstruck fans fuel royal fashions
The word “fashion” in French connotes high society. Although the word is now more commonly taken to mean “a widely popular style,” its upper-class associations are what the public yearned for when it first came into use. People still want to imitate the lifestyle of the upper class, and in some societies, the upper class is royalty. For instance, in Europe, where there are still princes and princesses, the starstruck public is frantic to keep up with each and every detail of the fashions of roya
July 7, 2014
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[SUPER RICH] Long and winding road to ownership
Third-generation succession of a founding family has become a big issue for family-run South Korean conglomerates after Samsung Group faced a governance crisis in the wake of the sudden hospitalization of chairman Lee Kun-hee in early May. The nation’s top conglomerate, however, regained stability faster than expected by moving quickly and smoothly toward succession. The tech giant announced in May it would list IT solutions affiliate Samsung SDS on the main bourse within the year, which is expe
July 7, 2014
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Lotte to enter Chinese e-commerce market via Alibaba
Lotte Department Store is considering entering the Chinese online shopping market by joining up with Chinese e-commerce heavyweight Alibaba. Such cooperation is expected to draw Chinese consumers in need of direct shopping from Korean companies, while at the same time enhancing Lotte’s brand name, which is referred to as “Letian” in China. Alibaba Group powers four-fifth of Chinese online consumer shopping and the company has posted $3.06 billion (3 trillion won) in the fourth quarter of 2013. “
July 7, 2014
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Korean builders expand foreign manpower to win overseas orders
South Korean construction firms are expanding their foreign workforce as the industry gains momentum in overseas orders, hitting a record high in the first half of this year. Local builders are in dire need of foreign workers who are well informed about the Central Asian and Latin American markets, as the revenue from overseas construction is taking up an increasing portion of their earnings, according to industry watchers. Buoyed by winning multi-billion-dollar plant construction orders in Turk
July 7, 2014
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Philippine Airlines offers promotional services for vacationers
Philippine Airlines has begun offering promotional tickets as the summer season is reaching a peak, with more Koreans eager to go on vacation.On Sunday, the carrier kicked off an event offering free tickets to stay in hotels in the Philippines and model airplanes through a roulette game at Yeongdeungpo Times Square. Those who participated in the event were also given coupons with which they could use to apply for free or discounted flights to Manila and Boracay. The airline was among the growing
July 7, 2014
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India’s Reliance Industries seeks biz tie-ups with Korean IT firms
India’s top-rated multinational company is seeking to expand cooperation with South Korean information technology firms in the mobile technology sector, a trade promotion agency said Monday.According to the Korea Trade-Investment Promotion Agency, top executives from Reliance Industries Ltd., including Richard Clark, vice president of cloud engineering, and Chetan R. Mehta, head of telecom 4G LTE devices sourcing, will hold one-on-one talks with 23 local IT companies Tuesday. “Reliance is benchm
July 7, 2014
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Agriculture minister hints at rice market opening
South Korea’s agriculture minister on Monday hinted at liberalizing the country’s rice market, saying there is a general consensus that delaying the market opening will not be in the country’s best interest.“The government has been intensifying its communication with farmers while reviewing various issues with experts and related ministries to decide whether to open the country’s rice market,” Lee Dong-phil, minister of agriculture, food and rural affairs, said in a report to the parliamentary a
July 7, 2014
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Consumers sue automakers for overstated fuel efficiency
A group of some 1,700 local consumers launched a class-action lawsuit against six local and foreign automakers Monday, claiming that they have overstated the gas mileage of some of their vehicles.In the lawsuit to be filed with the Seoul Central District Court, the plaintiffs sought between 1.5 million won and 3 million won (US$1,490-$2,960) each in compensation for the mileage gap.The move comes after the government said last month that it will fine two local SUV makers and four import car bran
July 7, 2014
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S. Korean tech firms in race for extended battery life
South Korea's major tech players have expanded the battery capacities of their flagship smartphones over the past years, data showed Monday, as they engaged in a fierce competition over wider displays and faster networks.Samsung Electronics Co., the world's No. 1 maker of handsets, saw its battery capacity of the Galaxy 5S model reach 2,800mAh, up 87 percent from the 1,500mAh posted by the Galaxy S smartphone released in June 2010.The improvement was also observed in phablets, a cross between ta
July 7, 2014
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Google, Apple to revise unfair App store terms
South Korea’s antitrust watchdog said Sunday that it had ordered Google and Apple to revise unfair provisions, including the no-refund policy, in operating their mobile application stores. It is the first time that international app store operators have removed specific clauses pertaining to refunds in the terms and services.‘‘We expect the measure, aimed at protecting consumers, will have a ripple effect on similar cases throughout the world,” the Korea Fair Trade Commission said in a press rel
July 6, 2014
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Diageo Korea muscles into Japanese beverage market
TOKYO ― Diageo Korea, the Korean branch of the world’s largest distiller, is poised to enter the neighboring Japanese ready-to-drink market, leveraging its production line in Icheon, Gyeonggi Province.“Riding on the fast-growing demand for bottled alcoholic beverages in Japan, we debuted Smirnoff Ice Green Apple, produced on the Icheon production line, in Japan last week,” Diageo Korea CEO Cho Kil-soo said in a press meeting held in Tokyo on Thursday.“We expect to rake in about $15 million in sa
July 6, 2014
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LG International spurs coal-based chemical business in China
LG International Corp. said Sunday that a coal-based urea plant in China it invested in has started commercial operations, paving the way for the South Korean trading firm to expand its presence in the coal chemical business.The plant in the industrial zone of Nalinriver, Wushen, Inner Mongolia, can produce 940,000 tons of urea annually. LG International acquired a 29-percent stake in Boyuan Group’s affiliate Bodashidi Chemical, the operator of the plant, for $92 million in 2013.LG International
July 6, 2014
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Shipbuilders fear grim outlook for Q2
South Korea’s major shipbuilders, including Hyundai Heavy Industries, may report poorer-than-expected earnings for the second quarter of the year, as they delivered more low-priced ships, data showed Sunday.Hyundai Heavy is expected to have logged an operating income of 25 billion won during the April-June period, a sharp plunge of 91.4 percent from a year earlier, and Samsung Heavy Industries may report 187 billion won in operating income, also 35 percent down from a year earlier, according to
July 6, 2014
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Big businesses to focus on risk management in H2
South Korea’s top 30 conglomerates are focused on managing risks and enhancing corporate stability in the second half of 2014 to deal with persistent economic uncertainties, a poll carried out by the lobbying group of conglomerates showed Sunday.The latest findings by the Federation of Korean Industries showed 40 percent of conglomerates, including Samsung, Hyundai Motor, SK and LG, are bracing for management-related challenges and unpredictable foreign exchange rates, with another 36.6 percent
July 6, 2014
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Philips emerging as global green brand: survey
Royal Philips is the fastest riser amongst technology brands in the annual ranking of the top 50 Best Global Green Brands by Interbrand, a global brand consultancy. Advancing nine places, Philips has the second-largest increase of all brands and now holds the 14th position, up from 23rd last year, the company said in a press release. “With the launch of a revised brand vision and identity, Philips has paved the way to improve the lives of over 3 billion people a year through meaningful innovatio
July 6, 2014
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[Weekender] Mobile apps provide a smarter night out
Less than a minute is how long it takes 25-year-old med school student Oh Seung-han to search for a nearby fried chicken joint when he and his buddies go out for beers.“These days there are smartphone apps for practically anything that you might need,” said Oh.Mobile applications add vigor to South Korea’s nightlife as app developers zero in on providing useful and convenient services after dark ― such as the one Oh used to find a list of businesses that are open 24 hours.“Twenty-first-century S
July 4, 2014
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Pantech creditors urge carriers to join in revival plans
Pantech, South Korea’s smallest smartphone maker, on Friday enlisted the support of the nation’s mobile carriers to help it get back on its feet after the creditors decided to push for a debt-for-equity swap that requires cooperation from SK Telecom, KT Corp. and U Plus Corp.The creditors, led by Korea Development Bank, said that if the carriers fail to agree to cancel some 180 billion won ($178 million) in return for Pantech equity by July 8, the troubled smartphone manufacturer would have to b
July 4, 2014
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Korean conglomerates to woo Chinese delegation
South Korean conglomerates are expected to offer know-how and technological expertise in exchange for investment and market access from a Chinese business delegation that is scheduled for a meeting with them on Friday. The 200-plus group includes Chinese President Xi Jin-ping. In total, more than 400 high profile business people will be gathering at Hotel Shilla where a forum hosted by the Korea Chamber of Commerce and Industry will take place. “South Korean firms have the technological prowess,
July 3, 2014
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[Herald Interview] Cathay Pacific confident of value-for-money service
The allegedly rigid hierarchical culture in the cockpit has often been cited as a cause of poor communication between senior and junior pilots in Korea and other Asian countries. The story at Hong Kong-based airline Cathay Pacific Airways, however, goes a bit differently as it says its pilots ― almost 80 percent of them being foreign nationals ― are one of its best-selling points, according to Mark Ng, the head of Cathay Pacific’s Korean operation. Due to a lack of pilots and training facilities
July 3, 2014
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Dyson unveils filter-free vacuum to local market
British electronics manufacturer Dyson’s senior design engineer Matt Steel poses with the company’s new vacuum cleaner, the DC52, in Seoul on Thursday. (Dyson)British electronics manufacturer Dyson unveiled a filter-free vacuum cleaner at a press event in Seoul on Thursday. The company said its new machine, the DC52, has adopted a unique technology that does not require filter maintenance. “There is no filter maintenance throughout the machine’s lifetime and no loss of suction even after 10 year
July 3, 2014