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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Kumho to sign deal this week to sell Asiana Airlines
Kumho Asiana Group is set to sign a formal deal with a local consortium this week to sell its flagship airline unit, industry sources said Monday.Kumho Industrial Co., the largest shareholder of Asiana, will sign the deal with a consortium comprised of HDC Hyundai Development Co. and brokerage house, Mirae Asset Daewoo Co., on FridayLast month, the consortium submitted an overall acquisition price of 2.5 trillion won ($2.1 billion), and was picked as the preferred bidder for the country's No.-2
Dec. 23, 2019
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Number of foreign cruise tourists switches to upturn in 2019: data
The number of foreign cruise tourists visiting South Korea switched to an upturn this year for the first time in three years, mainly on the back of more arrivals from Japan and Taiwan, industry data showed Monday.Some 249,000 foreigners arrived in the country on cruise ships over the January-October period, compared with 202,000 tallied for the whole year of 2018, according to the Ministry of Oceans and Fisheries. After peaking at 1.05 million in 2014, the number sank to 394,000 in 2017 followin
Dec. 23, 2019
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[Feature] Should men be vaccinated to prevent cervical cancer in women?
Although not many realize it, men should also be vaccinated to prevent female cervical cancer as the virus can be easily transmitted, according to health experts.“By changing of sexual partners, men can transfer the HPV virus from other women. If the governmental budget allows, it’s ideal for the national immunization program to include males in the human papillomavirus (HPV) vaccination before they experience sex to reduce the risk of female cervical cancer,” said Lee Jae-kwan
Dec. 22, 2019
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Hyundai Glovis strives for quantum jump as global logistics firm
Hyundai Glovis, a logistics arm of Hyundai Motor Group, will strive to expand its logistics business via global network it has established this year, as well as make a “quantum jump” by penetrating into new markets in 2020, according to the firm. Under the 2020 vision, Hyundai Glovis said it will expand its non-subsidiary logistics business in the next year to step up as a global logistics firm. This year alone, Hyundai Glovis has clinched three partnerships with Chinese fi
Dec. 22, 2019
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[Herald Interview] ‘Transformation’ to be keyword for 2020s leadership
Different forms of leadership have shaped nations and companies for centuries.And for the coming decade, “transformation” would be the keyword for leadership, Eugene Kim, the managing partner of leadership advisory firm Egon Zehnder’s Seoul office told The Korea Herald in an interview earlier this month.“The ability to generate profit is no longer the key skill that companies expect from their leaders -- it’s the ability to define and bring about transformation,&rdq
Dec. 22, 2019
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Govt. loses ruling over Daewoo Electronics takeover compensation
A British court ruled against Seoul's request to nullify an international ruling over a failed takeover of Daewoo Electronics in a decision that reaffirmed a hefty 73 billion-won ($63 million) compensation payout by the government.The High Court of Justice in England did not accept the South Korean government's request to cancel an arbitral tribunal case involving Iran's Dayyani family and the Republic of Korea, the Financial Services Commission said in a written statement.The legal dispute date
Dec. 21, 2019
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Korea Shipbuilding to set up engine joint venture with Saudi Aramco
Korea Shipbuilding & Offshore Engineering Co. said Saturday it plans to set up a joint venture to build engines with Saudi Aramco in March next year in the latest move to strengthen their cooperation.The JV will break ground for the plant in the King Salman International Complex for Maritime Industries and Services in the kingdom's eastern coast in September 2020, and the project is set to be completed in May 2022, according to the sub-holding company that governs shipbuilding units of Hyund
Dec. 21, 2019
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Japan lifts chip material export curbs against S. Korea ahead of trilateral summit
Japan on Friday partially lifted curbs on exports to South Korea of a chip material, one of three products subject to recent restrictions, in an apparent goodwill gesture ahead of a trilateral summit with Seoul and Beijing next week. But Seoul said that while it represents partial progress, it falls short of being a fundamental solution to the neighboring country's export curbs. Under the move, Japan will ease regulations on exports of photoresist to South Korea with limited regulations, Japan's
Dec. 20, 2019
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LG Uplus to sell payment gateway biz for W365b
LG Uplus Corp., a major telecommunications company in South Korea, said Friday it has signed a deal to sell its payment gateway business to local fintech firm Viva Republica Ltd.Under the agreement, LG Uplus will first spin off its payment gateway business and sell its entire stake in the unit to Viva Republica by the first half of 2020. The company didn't disclose the value of the deal, but the deal is said to be worth some 365 billion won ($314 million).A payment gateway is an online payment s
Dec. 20, 2019
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KAI delivers two Surion helicopters to Coast Guard
Korea Aerospace Industries has delivered two KUH-1 helicopters developed based on the Surion to the Korea Coast Guard, the company said Friday. The police helicopters will be deployed to the East Sea and the Korea Coast Guard at Jeju Island on Tuesday and will enter into service early next year. The new helicopters have added a variety of advanced mission equipment to maintain maritime security to crack down on illegal fishing, search and rescue and prevent marine accidents, KAI said. For t
Dec. 20, 2019
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Huawei has no plan to do business in N. Korea: exec
Huawei Technologies Co. has no plan to do business in North Korea, a company executive said Friday, emphasizing that the Chinese tech firm is fully committed to complying with international laws and regulations. Karl Song Kai, Huawei's vice president who leads its corporate communications department, said the company has no business ties with North Korea and doesn't plan to start doing business there. "We are not considering doing business in North Korea," Song said at a media event in
Dec. 20, 2019
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Grant Hyatt Seoul sold to joint Hong Kong-Korea consortium: JLL Korea
The ownership transition of Grand Hyatt Seoul, a landmark hotel located in central Seoul, has successfully been completed, Hyatt Hotel Corp.’s exclusive real estate selling agent Jones Lang LaSalle said Friday.Acquiring the 41-year-old, five-star hotel building was a consortium led by Hong Kong-based investment firm PAG and Seoul-based Inmark Asset Management.The duo had been picked as the preferred bidder by Hyatt Hotel Corp. in August and signed a stock purchase agreement in October. Bui
Dec. 20, 2019
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KT races ahead in 5G streaming games
Telecom firm KT said Friday it will launch a subscription-based 5G cloud gaming service in South Korea starting March, exclusive for its 5G users.The first 10,000 KT users to download the game streaming app will be given a two-month free trial period to play some 50 games on the app. A thumb-sized detachable mini joystick developed by Motion Queen, will be given out to them for free, allowing for an immersive gaming experience without requiring a Bluetooth connection, KT said. The company is the
Dec. 20, 2019
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BAT acquitted in tax evasion case
The South Korean unit of multinational cigarette maker British American Tobacco and its executives, all indicted on charges of tax evasion, were acquitted by a local court on Friday.The Seoul Central District Court acquitted BAT Korea and two of its executives of tax evasion, citing lack of evidence.BAT Korea, a local unit of the London-based BAT, and its two senior executives in charge of production and logistics, were indicted in April this year on charges of evading tax worth 50 billion won (
Dec. 20, 2019
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Huawei eyes more product purchases, investment in S. Korea amid US sanctions
Chinese telecommunications behemoth Huawei Technologies Co. on Friday vowed to beef up its business in South Korea by increasing the purchase of parts for its network equipment and smartphones amid continued US sanctions.Karl Song Kai, head of Huawei's global media and communications, said Huawei also plans to increase its investment in the country, although the company didn't specify target numbers. The Chinese tech firm, the No. 1 telecom gear maker and the No. 2 mobile phone manufacturer in t
Dec. 20, 2019
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FTC to closely monitor abuse of chipmakers next year
Korea’s antitrust watchdog plans to set up a chip division early next year to focus on the abuse of market dominance by chipmakers, the chief said Thursday. During a press briefing Thursday afternoon, Fair Trade Commission chief Joh Sung-wook said, “We will closely monitor a chipmaker’s blockade of competitors’ entry into markets that may occur during the transition process into 5G network.” A chipmaker’s blockade is, for instance, to exclude competitors
Dec. 20, 2019
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Chief financial regulator urges insurance firms to bolster capital base
South Korea's chief financial regulator on Thursday called on insurance companies to restructure their assets and liabilities while bolstering their capital base ahead of the introduction of tougher global accounting standards for insurers. Under the new rules, set to begin in 2022, insurers' liabilities will be assessed on the basis of their market value rather than book value. This is aimed at enabling a fairer assessment of insurers' ability to withstand stress and to have a larger capital ba
Dec. 19, 2019
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GS E&C to develop solar power plant in India
South Korean builder GS Engineering & Construction is set to develop a 300-megawatt solar power plant in Rajasthan state, northwest India, as an independent power producer, the firm said Thursday. An IPP is an entity that builds power plants, runs them for a certain period and recoups its investment.GS E&C said the investment will be made by acquiring a stake in the ISTS-IV 300-megawatt photovoltaic project implemented by Solar Energy Corporation of India Ltd., which was founded by India
Dec. 19, 2019
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Lotte Group braces for changing retail landscape with massive exec reshuffle
South Korea’s fifth-largest conglomerate Lotte Group carried out a sweeping executive reshuffle Thursday to respond to the changing retail business landscape, with Lotte Department CEO Kang Hee-tae being promoted as head of the retail business unit.In a drastic annual year-end reshuffle, led by Lotte Group Chairman Shin Dong-bin, the group replaced a quarter of 608 senior executives, to brace for digital transformation amid the surge in e-commerce. It was the first executive reshuffle led
Dec. 19, 2019
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Hanwha Energy taps Vietnam’s energy market
Hanwha Energy said Thursday that it has joined hands with Korea Gas Corp. (Kogas) and Korea Southern Power (Kospo) to cooperate in infrastructure development projects for a gas plant and liquefied natural gas terminal in Vietnam.The affiliate of Hanwha Group plans to build a terminal for LNG imports and a power plant to produce electricity in Vietnam, where power supply and demand imbalance is a severe problem. In the case of Vietnam’s southern region, although half of the country’s
Dec. 19, 2019