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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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Controversial cult leader’s sentence reduced to 17 years
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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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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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Market uncertain on Korea's October rate cut despite slowed inflation
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SK-Sinopec JV highlighted amid Moon‘s visit to China
Wuhan Petrochemical, the SK-Sinopec joint venture, has been highlighted as a successful case of a cooperative project between the two countries during President Moon Jae-in’s state visit to China this week.The Korea-China petrochemical joint venture was forged by SK Global Chemical and Sinopec, China‘s largest petrochemical firm in 2013 with the two investing 3.3 trillion won ($2.91 billion) with the ratio of 35 percent to 65 percent, largely backed by SK Group Chairman Chey Tae-won’s vision to
Dec. 14, 2017
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[Herald Interview] ‘Intellectual property is strategic tool for fast-changing modern world'
SINGAPORE -- At the presence of the “fourth industrial revolution,” governments are pressed to come up with a comprehensive technological and economic blueprint to survive in the hectic modern world -- and this is where intellectual property comes into spotlight, according to the chief of a leading international authority group.“One of the core strategies for individual governments is to create a business environment which allows an easy influx and acquisition of advanced foreign technology,” Fr
Dec. 14, 2017
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SKT, KT's 5G technology selected as Korean standards
Core 5G network technologies developed by wireless carriers SK Telecom and KT have been selected as Korean standards by the Telecommunications Technology Association, according to the two companies Thursday.On Wednesday, the TTA chose SK Telecom‘s 5G fronthaul technology and KT’s 5G network slice orchestration as its standards at an annual congress held in Seoul.SK Telecom‘s fronthaul technology, which connects 5G central units with distributed units, is an open-interface system that standardize
Dec. 14, 2017
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Lotte Liquor creates export-only Sunhari Strawberry
Lotte Liquor, the alcoholic beverage arm of Lotte Chilsung Beverage, said Thursday that it had created a strawberry-flavored drink exclusively for export.Sunhari Strawberry is the latest in the company‘s Chum Churum Sunhari line, which adds fruit flavoring to soju. Sunhari Strawberry from Lotte Liquor (Lotte Liquor)According to Lotte Liquor, the 12 percent ABV Sunhari line has been popular among consumers abroad who have trouble drinking straight soju. Exports of Sunhari have quadrupled since t
Dec. 14, 2017
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Samsung smartphone to slow in growth in 2018: SA
Samsung Electronics’ smartphone sales are predicted to see the slowest growth next year among the top five smartphone makers, reaching a market share of below 20 percent, according to the US research firm on Thursday. According to Strategy Analytics, the Korean tech giant is predicted to have a 20.5 percent market share this year with shipment of around 319 million units. Next year, the firm will see its share fall to 19.2 percent, with shipment dropping to 315 million units, SA predicted on the
Dec. 14, 2017
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Korea to shift toward renewable energy, natural gas
South Korea will shift its reliance from coal and nuclear power toward renewable energy and natural gas to address environmental concerns and safety issues, the energy ministry said Thursday.The Ministry of Trade, Industry and Energy announced its eighth basic plan for long-term electricity supply and demand in a meeting with a parliamentary committee, which includes an energy road map for 2017-2031."While past plans were set with a focus on a stable power supply and economic efficiency, the lat
Dec. 14, 2017
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Lotte's hypermarket chain to stop selling cigarettes from next year
Lotte Mart, the third-largest discount store chain in South Korea by revenue, said Thursday that it will stop selling cigarettes next year as it is pushing to specialize in healthy products.Lotte Mart CEO Kim Jong-in said the decision is part of his company's commitment to transform itself into a health-oriented enterprise.Lotte Mart said it will expand the number of wholesome foods at its shelves and invest in developing new health products. (Yonhap)The company said its cigarette sales account
Dec. 14, 2017
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Samsung set to lose ground in smartphone market in 2018: Strategy Analytics
Samsung Electronics Co. is forecast to lose ground next year in the smartphone segment, an industry tracker said Thursday, apparently due to the rise of Chinese manufacturers.Strategy Analytics said Samsung Electronics is expected to post a market share of 19.2 percent in the global smartphone industry in 2018 by shipping 315 million units, down from 20.5 percent estimated for this year.The weaker outlook comes as US rival Apple Inc. is expected to expand its presence in the high-end segment, wh
Dec. 14, 2017
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Korea to supply 1 million registered private rental properties over next 5 years
South Korea will supply 1 million "registered private rent houses" in the next five years to help tenants keep a stable residence without worrying about a sharp increase in rental costs, the transport ministry said Wednesday. If the owner of multiple homes registers one of them as a rental house with the government, the home is called a registered private rental home. The homeowner receives some tax benefits but is not allowed to sell the house for up to eight years, according to the Ministry of
Dec. 13, 2017
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Intellectual assets matter, Samsung-Apple case shows it: WIPO
SINGAPORE -- The long-drawn-out legal battle between Samsung Electronics and Apple may be a headache for the world’s top two smartphone makers, but is also proof for the pivotal role of intellectual assets in the global economy, according to the World Intellectual Property Organization.“We are living in an era when conventional physical assets are increasingly converted into intangible intellectual assets and the intellectual property agenda is rising as a key basis of business competition,” sai
Dec. 13, 2017
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Organica’s Clean Food brand expands offerings at Emart24 nationwide
Premium natural food company Organica said Wednesday that it was expanding distribution of its Clean Food line to all Emart24 stores nationwide. Organica has been offering Clean Food Meal Boxes, premium sandwiches and cleanse salads at 33 select Emart24 stores since August, bringing healthful food options to convenience store shoppers.Starting Wednesday, those products are supplied to 2,600 Emart24 stores nationwide -- just five months after their launch.According to Emart24, the test run of Org
Dec. 13, 2017
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AirAsia X introduces Jeju-Kuala Lumpur direct flights
JEJU ISLAND -- AirAsia X, the long-haul arm of the AirAsia group, on Wednesday celebrated the launch of its direct route between Jeju Island and Kuala Lumpur, operating four times weekly.“We see great potential for two-way crossflows of traffic between Kuala Lumpur, Jeju and beyond through our connectivities,” said AirAsia X Chairwoman Tan Sri Rafidah Aziz at a press conference held at Lotte City Hotel on Jeju Island.AirAsia X already operates routes to Kuala Lumpur flying out of Incheon and Bus
Dec. 13, 2017
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Samsung patents ‘double-sided’ smartphone
Samsung is working on “double-sided” smartphone in which the display covers almost half of the back of the device, according to Dutch tech media on Wednesday.According to LetsGoDigital, Samsung Display filed a patent application for its “double-sided” display smartphone to the United States Patent and Trademark Office in September, 2016 and the USPTO published the patent on Wednesday. The original Korean patent was already filed in October 2015.The phone is not foldable but it comes with a touch
Dec. 13, 2017
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Korea’s largest Starbucks to open in front of Bosingak Bell
Starbucks Coffee Korea said Tuesday that it is to open its largest branch in the heart of Seoul next Wednesday. The store, dubbed “The Jongno branch,” is around 1,100 square meters, being four times larger than the average size of other branches. It will be located at Jongno Tower, Jongno-gu. (Yonhap)The store space is to be classified in six zones -- Grand Bar, Dining Zone, Lounge Space, Coffee Stage and Coffee Gathering. Customers can enjoy more than 100 kinds of beverages and merchandising p
Dec. 13, 2017
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Surplus cash of top 100 firms plunges on more investment
South Korea's top 100 firms by market capitalization saw their surplus cash tumble nearly 35 percent this year from a year earlier due largely to increased investment, a market tracker said Wednesday.The leading listed companies had a combined surplus cash flow of 34.1 trillion won ($31.2 billion) as of the end of September, down 34.7 percent from the end of last year, according to CEO Score.The tally covers 97 companies out of the total, which had comparable figures. Cash flow refers to the cas
Dec. 13, 2017
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LG gifts new government with W19tr investment, jobs plan
LG Group on Tuesday pledged to invest 19 trillion won ($17.4 billion) in new businesses pivoting on electric vehicle parts and next-generation displays, and hire around 10,000 new employees next year in a bilateral meeting with the country’s economy chief Kim Dong-yeon on Tuesday. It was the first one-on-one meeting between the top economy policymaker and a conglomerate leader.The meeting was held Friday at the request of Park Yong-maan, chairman of the Korea Chamber of Commerce and Industry, wh
Dec. 12, 2017
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[Herald Interview] Smart city to take center stage at CES
With smart cars stealing the spotlight at the Consumer Electronics Show in recent years, next year attention may shift to smart cities which aim to connect cars, homes and devices, according to a vice president of international sales in the Consumer Technology Association.Every year the CTA holds the CES, the world’s biggest technology event, which is set to kick off Jan. 9 until Jan. 12 in Las Vegas. Brian Moon, a vice president of international sales in the Consumer Technology Association“The
Dec. 12, 2017
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LS HongQi signs $53 million cable supply deal in Kuwait
LS HongQi Cable & System, the local manufacturing unit of LS C&S in China, logged a cable supply deal worth some 58 billion won ($53 million) in Kuwait, the company said Tuesday. Under the deal signed with the Ministry of Electricity and Water in Kuwait, LS HongQi C&S will begin supplying 132-kilovolt cables in Kuwait next year, to complete the construction by 2019, according to the company’s officials. LS Cable & System's cable manufacturing facility in China (LS C&S)The latest deal secured in
Dec. 12, 2017
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YouTube most popular among smartphone users in teens, 20s: report
South Korea’s Android users 10-29 years old were found to have spent the most time on Google’s YouTube app, according to a market report Tuesday. Korea’s local application market research firm WiseApp collected data from some 23,000 Korean Android users in November to compare the hours people spent on different applications. (Yonhap)The combined hours those 10-19 spent on YouTube reached 129 million hours in November. This compared to 43 million hours spent on KakaoTalk, the nation’s most popul
Dec. 12, 2017
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Korea's social commerce trio turn to open markets for growth
Social commerce platform WeMakePrice announced that it has set the launch of an open market-style “seller market” for Friday, becoming the last of the so-called Big Three in social commerce to turn to open market operations for growth.The “seller market” will combine elements of open markets, which simply connect sellers with buyers, and social commerce, which offers products selected by merchandise buyers at low prices to achieve large sales volumes.“This is not a simple transition to open mark
Dec. 12, 2017