Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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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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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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Can Jennie break the K-pop solo artist slump?
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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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Firefighters’ 3,000 won meals spark nutrition concerns
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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WTO to allow S. Korea to keep current tariff rate on imported rice
The World Trade Organization will allow South Korea to keep a 513 percent tariff on imported rice next year, the agriculture ministry said Tuesday, a move that could help protect the rice market of Asia's fourth-largest economy.The move came after South Korea reached deals with five rice exporters -- the United States, China, Australia, Thailand and Vietnam -- to end a process meant to verify whether South Korea's high tariff is appropriate. The five countries, which had taken issue with South K
Nov. 19, 2019
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Cabinet approves bill on regulation of P2P lending
The Cabinet on Tuesday approved a bill on regulation of peer-to-peer loans in a bid to tackle deceptive P2P lending practices and protect consumers, officials said.Under the regulation, which will take effective from August next year, all P2P lenders must have paid-in capital of more than 500 million won ($427,825) each and registration from financial regulators, the Financial Services Commission said in a statement. In case of a non-registered P2P lender, the lender's operator will face a fine
Nov. 19, 2019
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GS units partner with US mobility startup Lime
Two affiliates of energy and construction-centered GS Group said Tuesday they have formed a partnership with US micro-mobility startup Lime to offer better mobility services using their infrastructure.GS Caltex Corp., a major refiner, and GS Retail Co., the group's retail business affiliate, will provide charging services for Lime's electric scooters at their gas stations, parking lots and convenience stores. "This is one of our efforts to make gas stations mobility and logistics hubs
Nov. 19, 2019
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Samsung's DRAM market share hits 2-year high in Q3: report
Samsung Electronics Co.'s share in the global DRAM market rose to the highest in two years in the third quarter on robust chip demand for servers and smartphones, a report showed Tuesday.The Korean tech giant's DRAM market share stood at 46.1 percent in the July-September period, the highest since the second quarter of 2017, according to market tracker DRAMeXchange. Samsung's third-quarter revenue increased by 5 percent from the previous quarter to $7.1 billion with strong demand from Chin
Nov. 19, 2019
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Airbnb incurs Paris wrath over Olympics partnership
LONDON (AFP) -- Airbnb became a leading partner of the Olympics in a nine-year deal announced Monday that drew strong criticism from Paris, host of the 2024 summer Games.In the deal unveiled in London, the home rental platform became a "Top" International Olympic Committee partner, joining titans including Coca Cola and Visa on the highest sponsorship level. But in a letter sent last week and seen by AFP on Monday, the mayor of Paris warned IOC head Thomas Bach about the "risks&qu
Nov. 19, 2019
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Jin Air to put repaired B737-NG back into service
Jin Air Co., the budget carrier unit of Korean Air Lines Co., said Monday it will put a B737-NG plane that underwent repair work for cracks back into service this week.Engineers from Jin Air and Boeing jointly conducted the repair and replacement work on structural cracks on the B737-NG plane in the past two weeks, the company said in a statement. The US Federal Aviation Administration and the Ministry of Land, Infrastructure and Transport have approved the outcome of the repair work after
Nov. 18, 2019
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Major companies’ Q3 profits fall sharply over trade disputes, economic slump
A majority of top South Korean companies listed on the nation’s major bourse saw their operating profits fall rapidly in the third quarter on-year over protracted trade disputes and the stagnant global economy, data showed Monday.According to Infobigs, a data analysis unit of Yonhap News Agency, the combined operating profits of 90 affiliates from top 10 conglomerates plummeted 75 percent between July and September to 6.16 trillion won ($5.3 billion) from 25.28 trillion won in the same per
Nov. 18, 2019
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[Photo News] MAN Truck & Bus expects weak sales in Korea
Thilo Halter (center), Asia-Pacific president of MAN Truck & Bus, speaks during a press conference in Yongin, Gyeonggi Province, Monday. The German automaker expects sales here to remain weak next year, citing the economic slowdown as the reason. In the January-September period, the company sold 519 trucks and buses here. Last year, it sold 1,020 trucks and buses. The company held its second annual Truck & Bus Korea Fair at Yongin Speedway to promote its lineup, including
Nov. 18, 2019
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Hanwha Aerospace, GE sign $300m plane engine parts supply deal
Chemicals-to-finance conglomerate Hanwha Group’s aviation unit Hanwha Aerospace said Monday that it has clinched a $300 million deal to supply aircraft engine parts to US airplane engine maker General Electric. Under the contract, Hanwha Aerospace will supply six kinds of engine parts for GE’s GE9X which is used for Boeing’s 777X, and some 40 kinds for LEAP engines for Airbus A320 Neo, such as high pressure compressors and turbine cases. The South Korean company will offer part
Nov. 18, 2019
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[Herald Interview] Unreal opportunities for Epic Games in Korea
BUSAN -- A rich developer community means Epic Games keeps a close eye on Korea, according to the firm’s local representative.The country has the highest number of developers in the world who can use the Unreal Engine with proficiency, Epic Games Korea’s representative director Ray Park told The Korea Herald during the G-Star 2019 game expo in Busan last week.“Epic Games founder Tim Sweeney is often pleasantly excited by the level of games created by Korean developers using Unr
Nov. 18, 2019
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Seoul to unveil master plan for AI this year: science minister
South Korea will announce a strategy to build up its artificial intelligence capability this year as part of its broader effort to achieve sustainable growth, the country's science minister said Monday.In a meeting with reporters in Seoul, Choi Ki-young said that while the country's AI sector is currently trailing global leaders, the country's advanced infrastructure in information and communication technology should allow it catch up rapidly going forward. The top policymaker for science
Nov. 18, 2019
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S. Korea sees lowest trade deficit with Japan in 16 years
Amid growing trade tensions between the two neighboring nations, South Korea’s trade deficit with Japan is expected to hit the lowest level in 16 years, according to government data. In the January-October period this year, Korea’s trade deficit with Japan stood at $16.3 billion, down 20 percent on-year, the smallest deficit with the neighboring nation since 2003, according to the Industry Ministry. Korea’s exports to Japan amounted to $23 billion, down 6.5 percent from a year
Nov. 18, 2019
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S. Korea to grant smaller firms grace period on 52-hour policy
South Korea plans to apply a grace period for smaller firms in adopting the 52-hour workweek system, the labor minister said Monday, reflecting concerns over financial costs and a legislative deadlock at the National Assembly."In the case (the policies) are not legislated, the government will push for all possible measures focusing on areas that (companies are) struggling within the extent of not harming the intent of the 52-hour workweek system," Lee Jae-kap, minister of employment an
Nov. 18, 2019
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Airlines to cut fuel surcharges on int'l routes in Dec.
South Korean airlines will lower their fuel surcharges on international routes in December to mirror a fall in jet fuel prices, industry sources said Monday. The surcharges for one-way tickets on long-haul international routes will be capped at 37,700 won ($32.40) next month, down one notch from November. If the average jet fuel price on the Singapore spot market rises over $1.50 per gallon, local airlines are allowed to impose fuel surcharges, starting one month later. Jet fuel prices ave
Nov. 18, 2019
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S. Korea eases visa regulations for foreign workers in parts, materials and equipment fields
South Korea's justice ministry on Monday unveiled a revised visa policy to ease regulations for foreign workers in the parts, materials and equipment industries as part of ongoing efforts to help the industries that have taken a hit from Seoul's trade row with Tokyo."Starting Nov. 18, the justice ministry implements a revised policy for foreign professionals to support the parts, materials and equipment industries struggling from Japan's trade row and improve national competitiveness,"
Nov. 18, 2019
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SoftBank's Yahoo Japan to merge with Line app operator
TOKYO (AFP) -- Japan's Z Holdings, formerly Yahoo Japan, will merge with mobile chat app operator Line, the firms said Monday, in a bid to boost the customer base for their digital services.Mobile operator SoftBank Corp, the parent of Z Holdings, and South Korea's Naver, Line's parent company, agreed the merger of ZHD and Line, SoftBank and Naver said in a joint statement.Line will be delisted after SoftBank and Naver make a tender offer, with the merger expected to happen in October 2020.The de
Nov. 18, 2019
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S. Korea's trade deficit with Japan tipped to hit 16-year low this year
South Korea's trade deficit with Japan is expected to sink to a 16-year low in 2019 due to a tumble in imports, data showed Monday.Seoul posted a trade deficit of $16.37 billion with Tokyo in the first 10 months of this year, down 20.6 percent from a year earlier, according to the data from the industry and trade ministry and the Korea International Trade Association.It marks the lowest trade deficit with the neighboring country for the January-October period since the red ink of $15.57 billion
Nov. 18, 2019
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[Graphic News] S. Korea recaptures No. 1 spot in shipbuilding orders
South Korea recaptured the top spot in global shipbuilding orders last month, industry data showed, on the back of its dominance in the liquefied natural gas carrier market. In October, local shipyards, led by Hyundai Heavy Industries, won orders totaling 1.29 million compensated gross tons to build 17 ships, accounting for 86 percent of the orders placed around the globe, according to London-based Clarkson Research Services, the world’s leading provider of data for the shipping and ship
Nov. 17, 2019
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[Herald Interview] Royal Salute adds artistic touch to its blend Scotch whisky
After unveiling a new look for its signature 21-year-old Scotch whisky which depicts the royal heritage and Britishness of the brand, Royal Salute has joined hands with an Icelandic artist and held a visual art exhibition in Seoul.Offering Korean consumers the chance to fully understand the colorful, rich heritage that the Royal Salute brand embraces, the latest exhibition includes Kristjana S. Williams’ illustrations. Her drawings feature the characters from the Royal Menagerie at the Tow
Nov. 17, 2019
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Luxury fashion powerhouses rush into S. Korean
When it comes to purchasing luxury and premium products and services, South Koreans are almost on par with other major countries. Indeed, South Koreans' love for luxury goods is astonishing, and that's why high-end brands, which are known to stick to their heritage and tradition, have recently taken new and innovative moves in South Korea, such as opening pop-up stores and putting on world-exclusive fashion shows. Louis Vuitton, listed by Forbes as the most powerful luxury brand, open
Nov. 17, 2019