Most Popular
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Son Ye-jin is not worried about aging
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Samsung projects 15-fold surge in Q2 profit
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Man turns self in over offensive comment about car crash victims
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[Exclusive] US troops in S. Korea could be reduced, but not withdrawn, Trump allies tell Seoul lawmaker
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Is Hybe Chairman Bang Si-hyuk really ignoring NewJeans?
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Just 1 in 4 Korean teens 'content with life'
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Opposition leader's attacker sentenced to 15 years in prison
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Hyosung's estranged son donates inheritance, seeks to end family feud
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90% of Gen Z says they won't keep quiet over problems at work
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Surprise appearance of Son Heung-min packs public park in minutes, prompts police to control area
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LS Cable & System joins AIIB project in Oman
LS Cable & System is slated to join a communications network building project that is being financed by the Asian Infrastructure Investment Bank, according to the firm on Tuesday.The nation’s largest cable provider said it was selected as one of the companies that will build a broadband communications network in Oman led by its government and state-run mobile operator Oman BroadBand. The broadband network project is being carried out for the first time at the national level. By 2021, the first s
Nov. 6, 2018
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Reimposition of Iran sanctions spells uncertainty for Korean businesses
South Korean companies doing business in Iran are facing uncertainty now that sanctions have been reimposed on the Middle Eastern country, despite the waiver that Korea received. They say their business could suffer as the exemption is temporary and is strictly limited to oil. On Monday, the Trump administration said all the sanctions against Iran that were lifted as part of the 2015 nuclear deal will be reinstated. It then announced that eight nations, including Korea, had received waivers and
Nov. 6, 2018
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Asiana Airlines Q3 operating profit drops 14%
South Korean full-service carrier Asiana Airlines saw its operating profit drop more than 14 percent despite record-high sales of 1.8 trillion won ($1.6 billion) in the third quarter of this year. The company said it recorded 101 billion won in operating profit, a 14 percent decrease from a year ago, and 47.8 billion won in net profit in the third quarter. Asiana Airlines (Asiana Airlines)The company’s low-cost carrier Air Seoul recorded 59 billion won in sales and 36 billion won in operating pr
Nov. 6, 2018
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Gimpo aims to become world’s best city airport
Celebrating its 60th anniversary, Gimpo Airport on Tuesday unveiled plans aimed at becoming the world’s best city airport.The airport’s operator Korea Airport Corp. said it will open more facilities to increase accessibility, nurture young talent in the flight industry at its Aviation Training Center, and create more jobs by opening the National Aviation Museum of Korea in Gimpo Airport by 2020.Kim Myung-woon (center), Korea Airport Corp.’s acting CEO, poses with Gimpo Airport officials, passeng
Nov. 6, 2018
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Samsung BioLogics to conclude share swap with Biogen on Samsung Bioepis call option
Samsung BioLogics said Tuesday that it will transfer its shares in its subsidiary Samsung Bioepis to US-based Biogen on Wednesday, concluding the two sides’ call option process that had been pending since its formal execution in June. Under the share swap deal, Samsung BioLogics will provide 9,226,568 shares it holds in Bioepis to Biogen. Biogen will pay Samsung BioLogics around 759.5 billion won ($677 million) for the transaction including purchase fees and interest. As a result, Samsung BioLog
Nov. 6, 2018
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Jeju Air Q3 net profit falls 3.7% on high oil prices
Jeju Air Co., South Korea's biggest low-cost carrier by sales, said Tuesday its third-quarter net profit fell 3.7 percent from a year earlier due to high oil prices.Net profit for the three-month period that ended on Sept. 30 reached 31 billion won ($27.6 million), compared with 32.3 billion won a year earlier, the company said in a regulatory filing. (Yonhap)The budget airline said high oil prices are to blame for the decline in net profit.Jet fuel prices came to $87.3 per barrel in the third q
Nov. 6, 2018
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E-mart, LG Electronics join hands to develop retail service robots
E-mart, a South Korean discount chain operator under retail giant Shinsegae, joined hands with LG Electronics on Monday on the development and commercialization of retail service robots, including a smart shopping cart that will tag along behind the user.E-mart and LG Electronics held a signing ceremony for a memorandum of understanding and vowed to develop technology for a smart shopping cart that follows customers and does not require pushing. LG Electronics CTO division conversion center Ch
Nov. 5, 2018
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GC Pharma’s Curevo to start clinical trials for shingles vaccine in US
Curevo, a Seattle-based a vaccine development company under South Korea’s GC Pharma, said Monday that it had received clearance from the US drug regulator to start phase one clinical trials for a next-generation shingles vaccine. The US Food and Drug Administration has advanced the company’s Investigational New Drug application for CRV-101, a vaccine candidate for the treatment of herpes zoster, a viral disease commonly known as shingles. As a result, Curevo, along with the Seattle-based collabo
Nov. 5, 2018
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Yuhan signs $1.25b licensing deal with Janssen for development of new lung cancer drug candidate
South Korean pharmaceutical giant Yuhan announced Monday that it had licensed out its new clinical-stage lung cancer drug to Janssen Biotech in a deal potentially valued at up to $1.25 billion. Yuhan said it had entered a licensing and cooperation agreement with Janssen to develop a novel clinical-stage therapeutic candidate for the treatment of patients with non-small cell lung cancer, or NSCLC. Under the terms of the agreement, Yuhan will receive an upfront payment of $50 million and is eligib
Nov. 5, 2018
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Samsung increases on-year share of N. American smartphone market in Q3
Samsung Electronics Co. slightly expanded its share in the North American smartphone market in the third quarter despite a drop in overall shipments, a report released by industry tracker Strategy Analytics showed Monday.The South Korean tech giant took up 27.8 percent of the market in terms of shipments over the July-September period, up from 25.7 percent last year. The total number of handsets sold, however, dropped 400,000 units from on-year to 10.3 million, the data showed.Samsung's third-qu
Nov. 5, 2018
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Exports of chicken soup to China soar over three years
South Korea's exports of its traditional chicken soup to China shot up in 2017 from three years earlier thanks to the dish's growing popularity in the world's most populous nation, data showed Monday.Exports of chicken soup, called "samgyetang" here, to China came to $100,339 last year, up 22 times from three months earlier, according to the data from the Agro-Fisheries & Food Trade Corp.Samgyetang is a traditional chicken soup made with a whole young chicken stuffed with ginseng, sticky rice an
Nov. 5, 2018
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[Herald Interview] Future of mobility is on auto companies
DAEGU -- Software technologies applied to vehicles by tech companies have been unnerving traditional carmakers in recent years, stoking fears that they might lose their exclusivity in the auto industry. But such a scenario is not likely to happen, according to a British expert on connected and autonomous driving.“I think there’s a lot of uncertainties at the moment. We are not sure whether these tech companies are going to be competitors or possible collaborators,” said professor Paul Jennings,
Nov. 4, 2018
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Ministry to review approval of new budget air carriers
Following the revision of the licensing system for low-cost carriers, the government said it will complete a review of license applications for new LCCs by the first quarter next year.According to the Ministry of Land, Infrastructure and Transport, budget air carriers including Fly Gangwon, Air Premia and Aero K have submitted applications for business licenses. Other companies, including Air Daegu and Jeju Oreum Air, are expected to hand in applications this week. Air Premia (Air Premia)Under
Nov. 4, 2018
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Korean tech giants under pressure to go renewable
Korean tech firms are under increasing pressure from global companies, environmental activists, local governments and politics to expand the use of renewable energy, reflecting growing calls to protect the environment and fight climate change. Last week, Korean chipmaker SK hynix announced it would obtain its power 100 percent from renewable resources for its overseas plants by 2022 and reduce greenhouse gas emission by 40 percent in its business sites in Korea. SK hynix became the second electr
Nov. 4, 2018
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Samsung Electronics Service to hire 8,700 workers from subcontractors
Samsung Electronics Service Co. said Friday it will directly hire 8,700 workers from its subcontractors, the latest in a string of efforts by South Korean companies to strengthen employees‘ job security. The move came roughly seven months after the repair service provider of South Korean tech giant Samsung Electronics Co. vowed to provide the outsourced workers and other contract staff members with more stable positions. Samsung Electronics Service said 7,800 repair experts will start their work
Nov. 2, 2018
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LG Group’s new chairman becomes LG Corp.’s largest shareholder
With the shares he inherited from his father, LG Group Chairman Koo Kwang-mo has become the largest shareholder in LG Corp., a holding company that controls the nation’s fourth-largest conglomerate, the company said Friday.Koo inherited an 8.8 percent stake in the holding company from the late Chairman Koo Mon-moo, who had held an 11.3 percent stake. The new chairman now holds a 15 percent stake in LG Corp., according to the statement. Previously, he held 6.2 percent. LG Chairman Koo Kwang-m
Nov. 2, 2018
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Samsung Electronics takes up 20 pct of global smartphone market in Q3: Strategy Analytics
Samsung Electronics Co. took up 20 percent of the global smartphone market in terms of shipment volume in the third quarter of 2018, industry tracker Strategy Analytics' data showed Friday, falling slightly from the same period last year on the rise of Chinese rivals.The South Korean tech giant shipped 72.3 million units of smartphones over the July-September period, Strategy Analytics said, compared with 83.4 million units posted in the same period last year, when Samsung took up 21.2 percent o
Nov. 2, 2018
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[Weekender] Korean medicine: How it all comes together
Lee Noh-hyun, 32, who introduces himself as a “taeeumin,” or a person with the taeeum physiological type, said he has been trying to eat more beef and less chicken and pork since he was told of his type by his Korean medicine doctor. “Although I don’t have blind faith in the relation between the diet based on physiological type and health, I can’t still completely ignore it because Korean medicine, I believe, is reliable to some degree,” he said. Lee is one of many Koreans who have had their ph
Nov. 1, 2018
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Homeplus unveils rebranded CI
South Korean supermarket chain Homeplus on Thursday unveiled a new corporate identity, the first since its establishment in 1997. Models hold a new corporate identity of Homeplus at Homeplus store on Thursday. (Homeplus)The retailer’s signature color of red was kept, while the image of a “plus” was highlighted to represent the company’s future businesses. The plus symbol is created with two ovals overlapping each other, signifying higher shopping benefits and wider choices, the company explaine
Nov. 1, 2018
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SK Holdings awarded for excellence in ESG
SK Holdings has been recognized for the best practices in environmental responsibility, social responsibility and governance and for its shareholder-friendly approach and sustainability in entrepreneurship, the company said Thursday. SK Holdings CEO Jang Dong-hyun (SK Holdings)The firm earned the “A+” ESG rating from the Korea Corporate Governance Service for a second consecutive year in 2018. This year, KCGS evaluated ESG scores of some 930 listed companies and financial companies in Korea. A h
Nov. 1, 2018