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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Nongshim ranks among Korea’s top 10 brands
Nongshim, a leading Korean food and beverage company, ranked No. 4 among Korean brands that have contributed to promoting the country, the company said Tuesday.(Nongshim)In a survey conducted by the local brand value evaluation company Brandstock, Nongshim was listed as the No. 4 Korean brand, following Samsung Galaxy, Samsung QLED TV and Korean Air. Nongshim was the only food and beverage company among the top 10. “(The results of the survey) show that we have grown as a global brand that can b
March 27, 2018
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Daewoo E&C to start selling Cheongju Hillspark Prugio apartments next month
Daewoo Engineering & Construction is slated to start selling apartment units of Cheongju Hillspark Prugio from next month. The apartment complex will be located in Cheongwon-gu, Cheongju, the capital and largest city of North Chungcheong Province. A perspective view of Cheongju Hillspark Prugio (Daewoo Engineering & Construction)Cheongju Hillspark Prugio, which recently began construction, will contain a total of 777 households, with the area for each apartment ranging between 75 square meters a
March 27, 2018
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Number of used handsets sold in S. Korea hits 10m mark
The number of used handsets sold in South Korea surpassed the 10 million mark in 2017, industry tracker said Tuesday, amid rising demand for reasonably priced options in the market.According to the data compiled by Good Mobile and UPM, the combined volume of used mobile phones came to 10.5 million units last year, with the value estimated at 1.6 trillion won. The figures translate to an average price of 159,000 won. (Yonhap)"The sales of used handsets increased amid rising demand from the market
March 27, 2018
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KDB accuses labor union of flip-flopping on Doublestar deal
The state-run Korea Development Bank’s chief Lee Dong-gull on Monday upped the pressure on ailing Kumho Tire’s resistant labor union, saying it flip-flopped on a verbal agreement on the company’s sale to China’s Doublestar over the weekend.Lee called for the labor union to meet the deadline set by creditors for Friday by holding a general vote of all employees, but the union immediately refused the proposal, arguing that it had never consented to the sale plan.“We suggest that the union holds a
March 26, 2018
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Former Posco Daewoo vice president to head state-run oil firm
The state-run Korea National Oil Corporation has tapped Yang Su-yeong as the new chief executive officer. On Thursday, Yang began his three-year term until March 2021. He was the favorite candidate of the two suggested early in March by a committee for public institutions management affiliated to the Ministry of Strategy and Finance. Yang gained presidential approval for the KNOC top post, following the Energy Minister’s recommendation of the candidates. KNOC CEO Yang Su-yeong (KNOC)Formerly a v
March 26, 2018
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Hyundai E&C to put 3,510 units of Hillstate in Gimpo on block
Hyundai Engineering & Construction, the main construction unit of Hyundai Motor Group, will begin sales of 3,510 units of Hillstate River City apartment in Gimpo in Gyeonggi Province in late March, the company said Tuesday. The planned Hillstate River City development in Gimpo (Hyundai E&C)Hyundai E&C has constructed 52 apartment buildings, each with up to 21 floors and two basement floors in two blocks. The apartment space types range from 68 square meters to 121 square meters, offering a total
March 26, 2018
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Poor visibility delays dozens of flights at Incheon airport
Dozens of flights have been delayed at Incheon’s international airport due to bad weather conditions, the Incheon Airport said Monday.(Yonhap)The airport said smog had hampered flights from taking off or landing, with around 100-200 meters visibility recorded since Sunday evening. A warning on low visibility has been issued at 7:50 p.m. on Sunday and has not been lifted off as of 1 p.m. Monday, the airport said. The Seoul Regional Aviation Administration issues warnings when the visibility falls
March 26, 2018
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KDB chief says Kumho Tire union ‘verbally’ agreed to Double Star sale
The state-run Korea Development Bank chief Lee Dong-gull upped the pressure against resistant labor union in an emergency press conference on Monday, stating that the labor union has made a verbal agreement to the sale of the ailing tiremaker to China’s Doublestar last Friday. Accusing the labor union of failing to take follow-up measures, Lee said that the company would be forced into a workout unless a formal consensus is reached by the deadline of this Friday set by its creditors.Lee said tha
March 26, 2018
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Korea accepts export cap in return for US steel tariffs exemption
South Korea has been exempted from US steel tariffs in return for cutting its exports volume by 30 percent, Korea’s trade minister said Monday after returning from a third round of talks on revising the Korea-US free trade agreement in Washington a day earlier.The steel tariff was put on the negotiation table after the Trump administration signed an order to impose a 25 percent tariff on imported steel earlier this month.Korea will be the first nation the US has excluded from the list. Trade Mi
March 26, 2018
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STX Offshore goes on general strike over restructuring program
CHANGWON -- About 700 unionized workers at STX Offshore & Shipbuilding Co. went on a general strike Monday over the company's planned restructuring program.The union said the walkout at Jinhae shipyard will continue indefinitely until the company withdraws the restructuring program that called for, among other things, a 75 percent reduction in labor costs.Jinhae is located in the southeastern industrial city of Changwon. (Yonhap)Earlier this month, the state-run Korea Development Bank, the main
March 26, 2018
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Korea to reinforce trade ministry to deal with protectionism
South Korea's trade ministry said Monday it will beef up staff tasked with trade negotiations and disputes to better deal with the rising protectionism by major trading partners and help companies diversify into new markets.The Ministry of Trade, Industry and Energy said its reorganization plan received approval from the Cabinet meeting, which would raise the number of staff at the trade negotiation department from the current 280 to 311.The latest move comes as Seoul has faced increased import
March 26, 2018
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[Newsmaker] Samsung heir makes first overseas business trip after release from jail
Lee Jae-yong, the vice chief of tech giant Samsung Electronics Co., has made a business trip to Europe, company officials said Sunday, embarking on his first official activity since being released from prison in February.Lee's resumption of business activity as Samsung's de facto head comes 45 days after he was freed on suspended sentence after spending nearly a year in jail over bribery and other charges linked to a corruption scandal that led to the ousting of former President Park Geun-hye la
March 25, 2018
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Korea, US reach agreement ‘in principle’: Trade Minister
South Korea and the United States have reached an agreement “in principle” on renegotiation of their free trade agreement, said the trade minister who returned from the US on Sunday, signaling that three-month-long talks have come to an end.The two countries started renegotiating the deal after the Trump administration called for a revision in June last year on the grounds of the nation’s growing trade deficit with Korea. “As for the trade deal and the US steel tariff issue, we reached an agreem
March 25, 2018
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STX shipbuilding to stage strike starting Monday
The unionized workers of South Korea's STX Offshore & Shipbuilding Co. said Sunday they will stage a strike starting this week to protest the company's planned restructuring program.Starting Monday 8:00 a.m., the union said 700 workers will walk out and called on the company to scrap the planned layoff of workers. (Yonhap)"We will carry out a full strike for the time being, and hold protests and rallies to have the people become aware of unfairness surrounding the planned layoff," a union offici
March 25, 2018
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[IP in Korea] ‘Trademark suits reflect contemporary public perception‘
Trademark rights, which determine whether a name, sign, or expression may be commercially monopolized by a specific business entity, are often a subjective notion that constantly interacts with the changing society, according to an intellectual property litigation expert.“One of the most distinctive characteristics of trademarks is that they are strongly influenced by consumer sentiment at a given time,” Kim Un-ho, partner in the IP Practice Group at law firm Lee & Ko, told The Korea Herald in a
March 25, 2018
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SK Innovation to acquire US shale gas explorer
South Korean energy giant SK Innovation has signed an agreement to acquire a US oil and gas explorer to expand its overseas business, the company said Wednesday.The contract to acquire a 100 percent stake in Longfellow Nemaha will be delivered by its US subsidiary, SK E&P America, in the second quarter.Longfellow is a private oil and gas exploration and production company with assets located in Oklahoma, the company said in a statement. SK Innovation’s shale site in Oklahoma (SK Innovation)The a
March 25, 2018
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Labor union remains resistant to Doublestar’s buyout of Kumho Tire
The Korea Development Bank, the main creditor of the ailing Kumho Tire, said Sunday that it has never received or offered an acquisition deal involving a local company, denying claims by unionized workers at the tiremaker.Unionized workers hold a protest in Gwangju on Saturday. (Yonhap)“Since opening Doublestar’s intention to invest, the KDB has neither contacted any Korean companies to attract investment, nor was it offered a takeover deal from local firms,” it said in a statement. “If interest
March 25, 2018
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Lotte to hold first nondeal roadshow in Singapore, HK
South Korean retail giant Lotte Corp. said Sunday that it will host its first Non-Deal Roadshow as a holding company in Hong Kong and Singapore next week. Lotte Corp.Arranged by Nomura Securities and HSBC Fund Services, the NDR session is the first to be held by the conglomerate after it adopted a holding company structure in October.The NDR is a type of event held for investment, where executives hold discussions with current and potential investors. Nothing is offered for sale.Lotte’s interim
March 25, 2018
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Int'l air passenger traffic up 5.1% in February
International air passenger traffic rose a solid 5.1 percent in February, helped by South Korea's hosting of the PyeongChang Winter Olympic Games, official data showed Sunday.A total of 6.86 million passengers used international flights into or out of South Korea in the one month period, the Ministry of Land, Infrastructure and Transportation said. It said besides the Winter Games, there were more people traveling abroad as many kids were off from school and families took overseas trips.South Ko
March 25, 2018
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Expansion into Middle East, Africa critical amid protectionist trends: KITA
South Korean companies need to expand their presences in the Middle Eastern and African markets amid growing protectionist trends in the United States and China, an international trade organization here said Sunday.The Korea International Trade Association's report said Asia's fourth-largest economy must seek a more diversified export market strategy to maintain its outbound shipment growth, as Washington and Beijing, the country's two largest trading partners, are seemingly moving to protect th
March 25, 2018