Most Popular
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Slew of top K-pop stars ready to return from military
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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BTS-themed moon jar to be unveiled on Hangeul Day
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Market uncertain on Korea's October rate cut despite slowed inflation
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Samsung unveils 'personalized AI' for all devices
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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[Robert Fouser] Why the US election looks so close
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Special counsel bill to probe first lady scrapped
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Govt. to provide smartphone price comparison with overseas markets
South Korea's telecom watchdog said Thursday it will provide consumers with a means to compare local prices of smartphones with those sold abroad on its website starting in May, apparently aimed at lowering prices here.The move comes as local customers have been expressing criticism that smartphone makers tend to set relatively higher prices in South Korea compared with other countries.Taking the complaints into consideration, the state-run Korea Communications Commission said it will conduct re
April 5, 2018
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Korean chipmakers not immediately affected by US tariffs on Chinese products
Korean semiconductors manufactured in China are not subject to US tariffs, but there is still a possibility that they will be affected as components in China's finished products, industry sources said Thursday.A list of Chinese products subject to tariffs announced by the US Trade Representative a day earlier includes non-memory chips, according to the sources. Both Samsung Electronics and SK hynix produce memory chips at their plants in China.Samsung last year put out a monthly average of 450,0
April 5, 2018
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Fire breaks out in LG Display facility
A fire broke out at a liquid-crystal display production facility of LG Display located in northwestern Gyeonggi Province at around 2:54 p.m. Wednesday. No casualties had been reported as of 6 p.m. LCD PRODUCTION LINE SET ON FIRE -- Smoke gushes out at a liquid crystal display production line of LG Display in northern Gyeonggi Province, due to a fire that broke out at around 2:54 p.m. on Wednesday. (Yonhap)The fire reportedly began at a construction site near an aeration tank of a wastewater disp
April 4, 2018
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[Doing biz in Korea] Understanding Korea’s ‘national sentiment law’
The Korea Herald is publishing a series on South Korea’s business environment for foreign companies and investors. This is the third installment. -- Ed.When Samsung Group heir Lee Jae-yong was released from prison on Feb. 4 almost a year after he was jailed on corruption charges, the center-left People’s Party released a statement, saying, “We doubt whether the public will accept this ruling with their ‘national sentiment law.’” National sentiment law, a phrase often used in South Korea, is not
April 4, 2018
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Janssen to begin phase 2 clinical trials of Hanmi Pharma’s diabetes drug
US pharmaceutical company Janssen will start carrying out phase 2 clinical trials in the US to evaluate the efficacy and safety of a diabetes drug candidate originally developed by South Korea’s Hanmi Pharmaceutical, the companies announced Wednesday.The study was uploaded onto ClinicalTrials.gov, a website through which most pharma companies recruit participants for upcoming clinical trials, by Janssen under the drug code name JNJ-6456511. Hanmi Pharmaceutical's headquarters in southern Seoul
April 4, 2018
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Innocean Worldwide starts ‘black dog’ campaign
Innocean Worldwide, an advertising arm of Hyundai Motor Group, has launched a campaign here to address the so-called “black dog syndrome” in South Korea, in collaboration with the animal protection organization Care.The “black dog syndrome” refers to a phenomenon observed at dog shelters here: Dogs with black hair stay longer in shelters than lighter colored dogs. An image from Innocean's YouTube video to raise awareness of the "black dog syndrome." (Innocean Worldwide)The 4 minute 33 second cl
April 4, 2018
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Shin Ramyun now available at Switzerland’s Matterhorn
South Korean food and beverage company Nongshim’s best-selling Shin Ramyun is now available at the top of the Matterhorn in Switzerland. Tourists pose with Shin Ramyun at Jungfrau in Switzerland. (Nongshim)Sources said that a kiosk in Matterhorn’s Gornergrat observatory began selling Shin Ramyun last month, upon the request of the Switzerland tourism office covering the canton of Valais.In May 2016, the tourism authority allowed the sale of Korean instant noodle maker Ottogi’s Jin Ramen there, f
April 4, 2018
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Korea to provide rental housing to newlyweds at discount
The South Korean government plans to provide public rental housing to youths and newlyweds at 70 to 85 percent of the market price.The Ministry of Land, Infrastructure and Transport will preannounce a revised bill for legislation on rental housing, it said Wednesday. The revised bill seeks to offer discounts on first-time rent fees of public housing, setting rents at 95 percent of the market price for regular tenants and less than 85 percent for tenants who are youths and newlyweds. (Seoul Metro
April 4, 2018
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Samsung's heir apparent plans to make more overseas trips: sources
Samsung Electronics Co. Vice Chairman Lee Jae-yong, the heir apparent of the family-controlled conglomerate Samsung, plans to make more overseas business trips down the road to foster new growth engines for the company, industry sources said Wednesday.Lee's plans to go abroad come as state prosecutors are looking into allegations that Samsung Group actively stamped out any moves to create labor unions among its affiliates, This has fueled negative public sentiment toward Samsung as a whole and m
April 4, 2018
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Korean start-ups thrive in Fairfax County
By Gerald L. Gordon If you are familiar with Fairfax County, Virginia, located just outside Washington, DC, then you are likely familiar with the fact that we are home to one of the largest Korean-American populations in the United States. In fact, according to the 2010 US Census, more than 60 percent of all Korean-Americans living in Virginia are located in Fairfax County. Therefore, it should come as no surprise that Fairfax County is home to nearly 60 Korean-owned businesses.There are a broad
April 4, 2018
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Top chipmakers account for 40% of all big biz investments in 2017
Korea's top two chipmakers, Samsung Electronics Co. and SK hynix Inc., accounted for a whopping 41 percent of all investments made by the country's major conglomerates in 2017, industry data showed Wednesday.According to the research conducted by industry tracker CEO Score, 341 affiliates of the country's top 57 business groups invested a combined 85.9 trillion won ($80 billion), rising 35.2 percent from a year earlier.Investments in facilities and other tangible properties jumped 40.6 percent o
April 4, 2018
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[Newsmaker] Ex-Samsung CEO Kwon becomes legendary salaryman in Korea
Kwon Oh-hyun, a former chief executive officer of Samsung Electronics who retired late last year, was the highest-paid man in South Korea last year, earning far more than the owners of chaebol including the tech giant’s de facto leader Lee Jae-yong.According to an annual business report released by Samsung Electronics, Kwon received a total of 24.38 billion won ($23 million) in annual salary last year, three times higher than what he had earned a year before. Kwon had served as the vice chairman
April 3, 2018
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McDonald’s donates W300m for Ronald House project
A local unit of a US fast food chain McDonald’s donated 300 million won to build a temporary residence for families with children in hospital in the nation’s southeastern region.The donation was delivered as part of events to celebrate its 30th anniversary here. Out of profits made from selling Big Mac and Happy Meal sets, Joh Ju-yeon, managing director of McDonald’s Korea delivered the check to Jeffrey Jones, chairman of Ronald McDonald House Charities Korea, a non-profit organization aimed at
April 3, 2018
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IP office to offer online English training session
The Korean Intellectual Property Office said Tuesday that it will operate an online IP education curriculum in English, using a platform it jointly developed with the World Intellectual Property Organization and the Korea Invention Promotion Association.Applicants may sign up for the Advanced International Certificate Course at the IP Discovery website (http://www.ipdiscovery.net) until May 9 and online courses are to start immediately upon registration, according to KIPO.“The semi-yearly 12-wee
April 3, 2018
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Electro Mart targets to open 10 more outlets by year-end
Discount chain E-mart’s Electro Mart said Tuesday that it would open 10 more outlets and achieve 500 billion won ($470 million) in sales by the end of this year.Electro Mart, which specializes in electronics, was launched in 2015 and currently runs 20 outlets across the country, including one in Changwon, South Gyeongsang Province, slated to open Friday. The company said its sales reached 337 billion won last year, rising twofold over just a year. Officials said they expect sales to hit 500 bill
April 3, 2018
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WeMakePrice’s 2017 sales jumps 28 percent
Annual sales of South Korean e-commerce company WeMakePrice jumped 28 percent last year to 473 billion won ($445 million), well exceeding its competitors’ sales growth average of 19.2 percent, the company said Tuesday. WeMakePrice (WeMakePrice)The increase in sales has been attributed to reducing operating losses, as it logged 41.7 billion in losses, a 34.4 percent drop from last year.Its operating loss rate, calculated by net loss divided by turnover, recorded 8.8 percent, in the single digits
April 3, 2018
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Starbucks Coffee Korea launches order service via Samsung’s Bixby
Starbucks Coffee Korea said Tuesday that customers are now able to order menu items via voice commands to Bixby, Samsung’s artificial-intelligence based virtual assistant, which has been linked to Starbucks Coffee Korea’s mobile order and payment app Siren Order. A model orders from the Starbucks menu via Samsung’s Bixby. (Starbucks Coffee Korea)“Customers can order as if they are talking to a barista at our Starbucks store, such as asking for more syrup or extra whipping cream,” said a Starbuck
April 3, 2018
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Chicken franchise sales rise in 2017 amid struggling affiliated outlets
Sales of South Korea's major chicken franchises rose in 2017 from the previous year amid a growing number of affiliated outlets going out of business due to intense competition, industry sources said Tuesday.Fried chicken and beer, called "chimaek" in South Korea, is one of the most popular foods in the country along with soju and samgyeopsal, or grilled pork belly.Kyochon, the biggest franchise, posted a 9.5 percent increase to 318.8 won ($301 million) in sales last year from a year earlier.BHC
April 3, 2018
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DFS operating profits nosedive amid keen competition, Chinese sanctions
Operating profits of South Korea's duty-free shops declined sharply in general last year due to the cutthroat competition to attract Chinese tourists, and over Beijing's economic retaliation against the deployment of a US anti-missile defense system here, industry sources said Tuesday.Chinese travel agencies have suspended sales of tour packages to South Korea as part of the retaliation against the stationing of the Terminal High Altitude Area Defense system on South Korean soil last year. Seoul
April 3, 2018
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BTS becomes new models for LG Electronics' smartphones
LG Electronics Inc. said Tuesday it clinched a contract with South Korea's popular K-pop band BTS to promote its smartphones in the global market.Under the agreement, BTS will promote LG Electronics' smartphones, including a new flagship model expected to be unveiled in June, through advertisements and various other platforms, including social media.The company said it hopes that BTS, which boasts popularity not only in South Korea, but in the United States, Europe and South America as well, wil
April 3, 2018