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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Controversial cult leader’s sentence reduced to 17 years
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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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Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
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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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[Photo News] Line Friends x Castelbajac artworks on sale in Seoul
LINE FRIENDS X CASTELBAJAC -- French pop artist Jean-Charles de Castelbajac shows limited-edition works of art created in collaboration with Line Friends at the Art Major Cafe in Gangnam, Seoul, Wednesday. The four types of collaborative art pieces, designed by Castelbajac, feature Line Friends characters Brown, Cony and Sally. A total 400 pieces are available for sale. (Line Friends) LINE FRIENDS X CASTELBAJAC -- Limited-edition works of art created by Jean-Charles de Castelbajac in collaborati
Dec. 6, 2017
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Korea's trade surplus with US narrows this year: KITA
South Korea's trade surplus with the United States fell sharply during the first 11 months of this year from a year earlier amid growing pressure from Washington, data showed Wednesday.The US has demanded a revision to a free trade agreement with Seoul, which US President Donald Trump has called the deal a "job killer," citing the rising deficits in trade with South Korea.The US side is expected to focus on the auto and steel sectors while South Korea has voiced opposition to further lowering ba
Dec. 6, 2017
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[PyeongChang 2018] Companies aim to boost sales via Olympics marketing
Companies in South Korea are stepping up efforts to promote consumption through the upcoming PyeongChang 2018 Winter Games, with the quadrennial event just two months away, industry sources said Wednesday.Corporate sponsors of the Winter Games, which can officially use the images or phrases related to the Olympics, are actively utilizing them to advertise their products, according to the sources. This image provided by Coca-Cola Beverage Co. on Dec. 6, 2017, shows its products with drawings of a
Dec. 6, 2017
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Labor Ministry orders Paris Baguette to pay fines
The Ministry of Labor and Employment said Tuesday that it has decided to impose a penalty on Paris Baguette for failing to follow its order to directly hire bakers by the deadline which expired on the same day.The ministry said that the bakery chain will pay fines corresponding to the number of subcontracted bakers, excluding those that expressed their wish not to become full-time employees of the food company. The total fine amount has not been finalized, it added. (Yonhap)The ministry also sai
Dec. 5, 2017
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Govt. to redo feasibility study on 2nd airport on Jeju
South Korea will conduct another feasibility study on the construction project for a second airport on Jeju Island next year as a result of local residents taking issue with the site selection process, the transport ministry said Tuesday. In November 2015, the Ministry of Land, Infrastructure and Transport announced a plan to use 4.87 trillion won ($4.5 billion) to build the second airport in Seongsan, in the eastern part of the scenic resort island, by 2025.The new feasibility study will be car
Dec. 5, 2017
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Dessert on Trump’s state dinner in Seoul on sale at local bakery
A cake that featured on President Trump’s state dinner last month at Cheong Wa Dae in Seoul has hit the shelves of a local bakery chain. The Triple Chocolate cake, also known under the nickname of “Trump Cake,” has proven popular within a week since its launch across outlets of Hans Cake.The Korea-based bakery chain was commissioned by Cheong Wa Dae to create a cake to feature on the state dinner for Trump. The chain’s chef-owner Han Sung-hoon was called into the presidential kitchen on the day
Dec. 5, 2017
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Korea Post launches Visa debit card for overseas travelers
State-run postal service provider Korea Post said Tuesday it has launched Visa debit cards for overseas travelers. The debit card issued by Korea Post can be used at any overseas location that takes Visa, to withdraw money from ATMs overseas and to make online purchases from international websites. Korea Post President Kang Seong-ju (left) poses with actor and spokesman Hwang Jung-min, who became the first subscriber to the service, to mark the launch of the Visa debit card service at Incheon Ai
Dec. 5, 2017
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Hyundai Pharm promotes founding family’s Lee Sang-joon as president
South Korea’s Hyundai Pharm said Tuesday it has promoted Lee Sang-joon, grandson of the company’s late founder Lee Kyu-suk, as president of research and new drug development. Lee Sang-joon, 41, assumed the new post during a ceremony held in Seoul on Monday. As the eldest son of Hyundai Pharm’s incumbent Chairman Lee Han-koo, he is a third-generation member of the company’s founding family.Lee Sang-joon joined Hyundai Pharm in 2003 and has worked as the head of the company’s future strategy plann
Dec. 5, 2017
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Samsung researcher sues company over compensation for patents
A Samsung Electronics researcher has sued the firm for allegedly failing to provide proper compensation for patent technologies he developed, according to Korean news reports Tuesday. The patents are related to technologies involved in a legal case that Samsung had won against Apple a few years ago. The researcher, who was not identified, filed a 200 million won ($184,000) lawsuit against Samsung. He is expected to revise up the number to 5 billion won based on the court’s guideline, the reports
Dec. 5, 2017
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3 out of 10 top shipowning company managers eye new ships in next 12 months
Three out of 10 shipowning company managers said they are likely to order new ships within the next 12 months, according to an industry report, in a sign that the maritime sector sees light at the end of the tunnel.SMM, the leading international maritime trade fair that takes place in Hamburg every two years, said in a report posted on its website on Nov. 29 that there are signs of hope even among shipowners, with some players clearly viewing the growth prospects as positive. This is an indicati
Dec. 5, 2017
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GS Group donates W5b to help Pohang quake victims, have-nots
GS Group made a 5 billion won ($4.5 million) donation to help victims of the recent earthquake in Pohang and the underprivileged, the group said Monday. The donation has been delivered to Community Chest of Korea. About 1 billion won will be spent to support residents in the earthquake-stricken city of Pohang in North Gyeongsang Province, while the remaining 4 billion won is to be spent on helping the underprivileged in the nation, the group’s officials said. GS Group Chairman Huh Chang-soo (GS
Dec. 4, 2017
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[Global Finance Awards] KIS focuses on Vietnam as part of its Asian vision
Korea Investment & Securities, a leading brokerage in South Korea, has been striving to expand its operations in Vietnam as part of its mid-term vision to become a top-tier investment bank in the Asian region by year 2020. Korea Investment & Securities’ headquarters in Yeouido, Seoul. (KIS)“KIS was the most active among South Korea financial companies to expand outwards into the Asian market and is now successfully performing direct investment and financial consulting services related to Vietnam
Dec. 4, 2017
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[Global Finance Awards] Hyundai Card keeps ahead of digital age with vertical card design
Hyundai Card, the financial affiliate of Hyundai Motor Group, has ventured out of the conventional horizontal credit card plate to adopt an unprecedented full vertical shape, seeking to deliver its digital-focused design innovation to customers. “Throughout the early stages of the digital era, horizontal format has been the norm for most display units ranging from televisions, theater screens and personal computer monitors,” said an official of the credit service provider.“But with the advanceme
Dec. 4, 2017
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FTC looking to pursue charges against Hyosung Group
The Fair Trade Commission confirmed that it has decided to submit a proposal to the prosecution to investigate allegations filed against Hyosung Group CEO and former Chairman Cho Suck-rai and his eldest son, Chairman Cho Hyun-joon, over alleged misappropriation of funds. The commission is set to hold a plenary session next month to review its final report and conclude its findings before filing the proposal with the Seoul Prosecutor’s Office. The proposal is said to include the names of four pa
Dec. 4, 2017
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SK E&C to build 545 MW hydropower plant in Pakistan
SK Engineering & Construction has acquired a stake in a $1.44 billion project to build a 545-megawatt hydropower plant in Pakistan, the company said Monday.On Friday, SK E&C signed a contract with Associated Technologies Private Limited to gain an 89 percent stake in the Kaigah Hydropower Project. SK E&C will construct a 545-megawatt hydropower plant on Kandiah River in the Kohistan district of Khyber Pakhtunkhw in Pakistan. Location of the 545-megawatt hydropower plant in Pakistan (SK E&C)Cons
Dec. 4, 2017
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Builder sentiment down in Nov. on anti-speculation steps, rate hike
South Korean builders' business confidence fell in November from a month earlier due to government measures to rein in the housing market and a rate hike, a poll showed Monday.The construction business survey index stood at 78.2 in November, down 1.3 points from the previous month, according to the survey by the Construction and Economy Research Institute of Korea. (Yonhap)It marked the first time that the index stood in the 70 percent range for the fourth consecutive month since 2014.Park Cheol
Dec. 4, 2017
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Online shopping purchases continue to rise in Oct.
Purchases made through Internet and mobile devices in South Korea continued to rise in October as use of smartphones have fully caught on with local consumers, government data showed Monday.Transactions made by smartphones and tablets reached 6.33 trillion won ($5.83 billion) in the one-month period, up a solid 9.9 percent from a year earlier, according to data from Statistics Korea.In particular, the total amount of mobile transactions, valued at 4.03 trillion won, accounted for 63.6 percent of
Dec. 4, 2017
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Foreign ownership of Korean land inches up 0.3% in H1
Foreign ownership of South Korean land slightly expanded in the first half of 2017 from last year, the government said Monday.The amount of land owned by foreign entities came to 234.16 million square meters as of end-June, 600,000 square meters, or 0.3 percent up from end-2016, according to the Ministry of Land, Infrastructure and Transport.The rate of increase has been slowing compared with last year, after surging 6 percent and 9.6 percent on-year in 2014 and 2015, respectively. In 2016, the
Dec. 4, 2017
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KAI considers price cut of T-50 unit to win bid: new CEO
SACHEON, South Gyeongsang Province -- As part of efforts to secure a multibillion dollar trainer jet project in the United States, South Korea’s sole aircraft manufacturer is considering ways to cut expenses including labor costs, said the new chief of Korea Aerospace Industries on Friday.At a press conference held at KAI’s headquarters in Sacheon, South Gyeongsang Province, the company’s new President and CEO Kim Jo-won said KAI is seeking ways to adjust the unit price of the T-50 advanced trai
Dec. 3, 2017
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[K-Style Trailblazers] With quality focus, sister-brother biz takes off overseas
The Korea Herald is publishing a series of interviews with the CEOs of small but aspiring brands that are taking Korean fashion and beauty overseas through online shopping malls. This is the first installment. -- Ed.The office of teenage clothing shopping mall Dejou screams start-up. Tucked on the second floor of a drab building that also houses a PC gaming room and a traditional Korean soup store, the office is musty with dust coming off the thousands of garments piled on assembled shelves. Alo
Dec. 3, 2017