Most Popular
-
1
Slew of top K-pop stars ready to return from military
-
2
S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
-
3
Military aircraft evacuating S. Koreans in Lebanon returns home
-
4
Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
-
5
BTS-themed moon jar to be unveiled on Hangeul Day
-
6
Market uncertain on Korea's October rate cut despite slowed inflation
-
7
Samsung unveils 'personalized AI' for all devices
-
8
1,430 minors investigated for drug offenses from 2018 to 2023: police
-
9
[Robert Fouser] Why the US election looks so close
-
10
Special counsel bill to probe first lady scrapped
-
Incheon Airport touted as convenient service provider for PyeongChang Olympics, Paralympics
Incheon Airport successfully achieved the role of a transport hub during the 2018 PyeongChang Winter Olympics and Paralympics in February and March, the airport said, citing feedback from Olympics athletes and related officials. Incheon International Airport CEO Chung Il-young (left) shakes hand with International Paralympic Committee President Andrew Parsons at Incheon Airport in March. (IIAC)South Korea‘s main gateway operated special arrival and departure services exclusively for Olympics te
April 11, 2018
-
Hyosung participates in textile show in Ho Chi Minh City
South Korean textile giant Hyosung is participating in a textile exhibition being held in Ho Chi Minh City to seek new business opportunities in the emerging market, the company said Wednesday.Vietnam Saigon Textile & Garment Industry Expo 2018 is the largest textile exhibition in Vietnam. Hyosung is presenting its spandex brand Creora, which is highly resistant to chlorine -- a chemical used to keep swimming pools free of bacteria -- and has deodorizing effects that could be helpful in Vietnam’
April 11, 2018
-
Hanwha chief’s son attends business leaders’ club at Boao
Kim Dong-won, an executive at Hanwha Group’s financial arm, attended a roundtable session of global business leaders hosted by Chinese President Xi Jinping at the Boao Forum on Wednesday. Kim, 33, was one of 50 business leaders invited to the meeting with the Chinese president. The list of attendees included Derong Chen, president of China Baowu Steel Group, Minsheng Yang, executive chairman at China Life Insurance Company, and Takeshi Uchiyamada, chairman of the board of directors at Toyota Mot
April 11, 2018
-
Posco’s global CSR project wins UN recognition
Posco Steel Village in Vietnam (Posco)The United Nations has recognized a corporate social responsibility project by South Korean steel giant Posco as a case leading its sustainable development goals aimed at transforming the world by 2030.Posco has been building steel-framed residences in poor neighborhoods in cities where the company operates. The project titled Posco Steel Village is aimed at providing sustainable living spaces for them by using the company’s steel products and architectural
April 11, 2018
-
Innocean Worldwide to host Marvel Run 2018
Innocean Worldwide, an advertising arm of Hyundai Motor Group, will host the Marvel Run 2018 at the Nanji Hangang Park as part of its efforts to boost future competitiveness, the company said Thursday.Various venues incorporating Marvel characters, including a Hulk concept energy drink zone, will be offered. Poster of Marvel Run 2018 (Innocean Worldwide)The 5 kilometer-long sports event will take place from Nanji Hangang Park to World Cup Stadium Park located in Sangam-dong, eastern Seoul, on Ap
April 11, 2018
-
[Doing Biz in Korea] ‘FDI should move from quantity to quality’
The Korea Herald is publishing a series of features and interviews on South Korea’s business environment for foreign companies and investors. This is the fourth installment. -- Ed.Foreign direct investment has significantly contributed to the Korean economy over the decades. It has nearly doubled in the last 10 years to reach $22.8 billion last year, creating around 700,000 jobs and contributing to 20 percent of the nation’s total exports last year. Now, Korea should be wiser in attracting such
April 11, 2018
-
L’Oreal to buy 70 percent stake in Korean fashion, makeup firm Nanda
Korean fashion and cosmetics company Nanda, which runs the popular clothing brand Style Nanda, has selected L’Oreal as the preferred bidder to buy a 70 percent stake in the company, reports said Tuesday.The deal with the French cosmetics giant is estimated to be worth 400 billion won ($375 million). Nanda’s founder Kim So-hee, 35, who holds a 100 percent stake in the firm, will have a 30 percent stake in the company after the sale, according to reports that cited Swiss global investment bank UBS
April 11, 2018
-
Credit card spending by male customers on the rise: Shinsegae
The average spending by the holders of Shinsegae Department Store's new credit card for "lifestyle-oriented" men is seven times higher than other cards issued by the company that are predominantly used by women, South Korea's leading retailer said Wednesday.The average expenditures stood at about 3 million won ($2,819) for a month after the Shinsegae Men's Life Samsung Card was launched March 2, the department store said.The amount compares with about 400,000-500,000 won spent by the holders of
April 11, 2018
-
Fate of STX remains uncertain despite self-rescue plan
The fate of STX Offshore & Shipbuilding remained dim Tuesday, even though a self-rescue plan was delivered to creditors after its labor and the management reached an agreement on a restructuring plan.A self-help plan and a letter of confirmation both by the labor and the management was delivered to its creditor, the Korea Development Bank, in the evening, nearly a day after the deadline of 12 a.m.The details of the plan were not revealed. But the final version of the proposal was “not so much di
April 10, 2018
-
‘Irreversible’ change expected in Samsung when uncertainty is cleared: FTC chief
South Korea’s top conglomerate Samsung Group is likely to make an “irreversible” change after uncertainty over the fate of its de facto head is cleared, the head of the nation’s antitrust watchdog said Tuesday, referring to an upper court’s ruling on Samsung Electronics Vice Chairman Lee Jae-yong.FTC Chairman Kim Sang-jo (Yonhap)The Supreme Court has been reviewing Lee’s case since last month. It is expected to take up to about six months to hand down the final ruling on Lee, who was freed on a
April 10, 2018
-
Samsung BioLogics shares hit record-high, making it Kospi’s 3rd most valuable firm
Shares of Samsung BioLogics, a contract drug manufacturer under South Korea’s Samsung Group, hit an all-time high of 600,000 won ($564) on Tuesday morning, following news reports suggesting that the electronics giant is increasing direct stakes in its biopharma subsidiaries. It marks a 341 percent jump from the firm’s initial offering price of 136,000 won set at the time of its initial public offering in November 2016.With the recent share price hike, Samsung BioLogics has become the third-large
April 10, 2018
-
LS invests W14b to produce optical cables in Poland
LS Cable & System said Tuesday it would invest around 14 billion won ($13 million) in its plant in Poland to build a new production line for optical cables. The company has two optical cable production facilities in Korea and Vietnam. The one planned for Poland will be its third.LS Cable & System CEO Myung Roe-hyun (right)Upon its completion, the South Korean cable maker will be able to produce optical cables of around 3 million fiber kilometers a year, which would account for 7 percent of the E
April 10, 2018
-
Lotte Duty Free releases promotional music video featuring BTS
Lotte Duty Free, South Korea's top duty-free operator, released a promotional music video featuring K-pop boy band BTS on Tuesday, the company said, as it aims to attract more foreign customers amid growing hopes for the return of Chinese tourists.The song, titled "You're so Beautiful," is now available at the company's official website as well as on its YouTube and Facebook accounts, with subtitles provided in English, Chinese and Japanese, the company said.The K-pop sensation BTS has been serv
April 10, 2018
-
Creditors to put STX Offshore under court receivership
CHANGWON -- Creditors of STX Offshore & Shipbuilding Co. said Tuesday they will place the debt-ridden shipbuilder under court receivership as its union failed to accept the company's self-rescue plans.Creditors led by the state-run Korea Development Bank had said before the deadline that expired at midnight Monday that they can issue refund guarantees for new ships and keep the company afloat if STX Offshore and its union agree on a package of self-help programs that includes a 75 percent job re
April 10, 2018
-
SKT’s compensation plan stokes criticisms
SK Telecom has begun dispersing information on refunds for subscribers who experienced network outage problems Friday, but some have demanded higher compensation, according to industry sources Monday.The telecom operator announced Sunday it would provide refunds ranging from 600 won to 7,300 won (60 cents to $6.90), depending on individual subscribers’ mobile plans, for the network problems that occurred roughly between 3 p.m. and 6 p.m. Friday.According to SKT, the operator planned to send text
April 9, 2018
-
Korea Yakult achieves sales of W1tr in 2017
Korea Yakult, a household name in the yogurt and fermented dairy product market in Korea, said it achieved sales of 1 trillion won ($940 million) in 2017, five years after it spun off its instant noodle division Paldo. Korea Yakult’s fermented milk products (Korea Yakult)In 2012, Korea Yakult spun off Paldo following the release of its hit chicken-based instant noodles Kkokkomyeon in 2011. Korea Yakult’s sales after the spin-off dwindled to around 900 billion won. According to data from the Fin
April 9, 2018
-
GS E&C’s operating profit surge 544 percent in Q1
GS Engineering & Construction said Monday that its first-quarter operating profit jumped more than fivefold compared to its profit on-year.From January 1 to March 31, the company made a total of 380 billion won ($356 million) of operating profit, a 554.75 percent jump from the previous year, according to GS E&C. Its operating profit has been showing a positive figure for 16 consecutive quarters, it added. The company said a sharp increase in operating profit is attributable to constant gain from
April 9, 2018
-
Panel to review Samsung Electronics' workplace report
Samsung Electronics Co. has asked the government to judge whether its environmental assessment report on semiconductor factories contain trade secrets that need protection from public disclosure, the commerce ministry said Monday.The South Korean tech giant made yet another attempt to withhold disclosure of its workplace monitoring report, against the wishes of its former workers and their families, claiming health hazards caused by toxic chemicals at its production lines.Ex-Samsung workers suff
April 9, 2018
-
SK Group affiliates sweep list of top salary payers
SK Group affiliates dominated the list of top-paying companies last year, especially its chemical units, which occupied the top four spots, corporate data showed Monday.Corporate tracker CEO Score reviewed the annual salary of 324 firms among the top 500 companies by sales who had submitted business reports in 2017. Results showed the biggest payer was SK Energy, whose average yearly salary was 152.2 million won ($142,376). It was followed by SK Global Chemical (147.1 million won), SK Incheon Pe
April 9, 2018
-
Korea remains 2nd largest market for US beef in 2017: data
South Korea remained the second largest export market for US beef for the second consecutive year last year, industry data showed Monday, amid the growing popularity of American meat.South Korea imported $1.22 billion worth of US beef last year, the second only to Japan's $1.89 billion, according to figures by the US Meat Export Federation.The amount accounts for about 17 percent of the $7.26 billion total US beef exports in 2017.In terms of volume, South Korea ranked third with 184,152 metric t
April 9, 2018