Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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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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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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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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BTS-themed moon jar to be unveiled on Hangeul Day
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[Robert Fouser] Why the US election looks so close
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Apple sells 140,000 units of iPhone 8 in Korea in 2 days
US tech giant Apple Inc. sold 140,000 units of the iPhone 8 smartphones in South Korea in two days after its official release, industry watchers said Sunday.Apple started sales of the new iPhone 8 and 8 plus smartphones in South Korea on Friday. Preorders here for the iPhone 8 smartphones stood at just 60-70 percent of demand for its predecessor the iPhone 7 series.Industry watchers said the updates sales numbers are behind the iPhone 7 series, with local Apple fans apparently looking forward to
Nov. 5, 2017
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State-run companies hire more workers in past few years: CEO Score
South Korea's state-run firms have increased the number of new employees for the past few years, but the figure for new female recruits has fallen, a report by a corporate research firm said Sunday.The number of new employees recruited by 35 state-run firms rose to 5,736 last year, up 18.5 percent from 2012, according to the statistics by CEO Score.The number of new female employees, however, dropped to 1,146 last year from 1,155 in 2012.The Korea Electric Power Corp. employed the most, with1,31
Nov. 5, 2017
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Retailers hope for sales recovery amid thawing relations with China: sources
South Korea's retailers and duty-free shops are launching promotional events to attract more Chinese tourists, industry sources said Sunday, amid thawing ties between Seoul and Beijing after months of frosty relations over the deployment of a US missile defense system. The two countries agreed last month to put back on track ties that have been soured for the past several months, as China has put in place economic retaliation against South Korea over the stationing of the Terminal High Altitude
Nov. 5, 2017
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Reshuffle of personnel imminent for Samsung affiliates: sources
Samsung Group's non-technology affiliates are expected to reshuffle key personnel in the near future as the conglomerate's flagship Samsung Electronics Co. named new leadership last week, industry watchers said Sunday.Last week, the family-controlled conglomerates' technology affiliates, also including Samsung Display Co. and Samsung SDS Co., named new CEOs for their businesses. Samsung Electronics tapped younger chiefs for its chips, handsets and home appliances businesses.(Yonhap)The move was
Nov. 5, 2017
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Smoking rate of South Korean men down in 2016
The smoking rate of South Korean men aged 19 or older has fallen in recent years, but the rate still remains high, data showed Saturday.The proportion of men who smoke came to 39.1 percent in 2016, compared with 43.3 percent in 2014, according to the data compiled by Statistics Korea. There was no data on the smoking rate in 2015.Separate data by the Organization for Economic Cooperation and Development put the smoking rate of South Korean men aged 15 and older at 31 percent in 2015, the highest
Nov. 4, 2017
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About 100,000 iPhone 8s sold on 1st day
Around 100,000 new Apple iPhone 8 smartphones are believed to have been set up on the first day of sales, industry officials said Saturday.The figure represents about 60-70 percent of the iPhone 7's first day of sales. Preorders for the iPhone 8 smartphones were also about 60-70 percent of the iPhone 7 series in South Korea, according to the officials.(Yonhap)US tech giant Apple started sales of the new iPhone 8 smartphones in South Korea on Friday.Industry officials said the sluggish sales of t
Nov. 4, 2017
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Solar, wind initiatives to drive growth in renewable sector
South Korea's focus on renewable energy, such as solar and wind power, will drive growth in the country's renewable sector as a whole, according to a global rating agency.President Moon Jae-in has vowed to reduce the country's reliance on nuclear and coal-powered generation, while boosting the renewable energy segment."The Korean government's aim to increase generation from renewables to 20 percent of total generation by 2030 from 5 percent-6 percent in 2016 will likely mean capacity expansion o
Nov. 4, 2017
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South Korea's overseas direct purchases rise in Q3
South Koreans' online direct purchases from overseas countries continued to increase in the third quarter of this year on rising demand for foreign brands and cheaper price tags, government data showed Saturday.A total of 511.8 billion won ($460 million) of foreign goods was directly bought by South Korean shoppers via Internet malls in the July-September period, up 14.4 percent from a year earlier, according to the data compiled by Statistics Korea.(Yonhap)The quarterly figure has been on a ste
Nov. 4, 2017
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Paris Baguette files suit against gov't order on direct recruitment
Paris Baguette, South Korea's leading bakery franchise, has filed for an injunction against the labor ministry over its order to directly hire the bakers at its stores, company officials said Friday. People walk past Paris Baguette`s Manhattan outlet in New York. (SPC Group)In September, the Ministry of Labor and Employment ordered Paris Baguette to recruit 5,378 employees at 3,396 franchise stores who currently work for the franchise's subcontractors, saying it violated the rule that bans a fr
Nov. 3, 2017
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IPMA Korea celebrates 8th anniversary of Incheon Bridge
A project management symposium was held this week in Incheon to mark the eighth anniversary of the Incheon Bridge and appreciate the facility’s contributions to the local community.The International Project Management Association Korea held the fifth IPMA Research Conference at Gyeongwonjae Ambassador hanok hotel in Incheon’s Songdo International City on Thursday and Friday, officials said.The academic event was held to celebrate the eighth anniversary of Incheon Bridge, a 21.38-kilometer-long b
Nov. 3, 2017
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[PyeongChang 2018] PyeongChang Olympics expected to be boon for Korea's tourism industry: finance minister
South Korea's top economic policymaker said Friday that the upcoming PyeongChang Winter Olympics will be a boon for the country's tourism industry, coupled with recent improvement in relationship with China."Tourism is an important industry that creates more jobs than other sectors," Finance Minister Kim Dong-yeon said in a meeting in Seoul. "The Winter Olympics is about 100 days away and the improved relations with China will give fresh momentum to the local tourism industry."The quadrennial sp
Nov. 3, 2017
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Celltrion secures new drug manufacturing partner in US
South Korea’s Celltrion said Friday that it had tapped Baxter BioPharma Solutions as its new contract manufacturing partner for Remsima in a move to cover growing demand and ensure stable supplies in the US.Under the new CMO agreement, the US-based biopharma company will produce Celltrion’s Remsima in the form of finished drugs. Celltrion’s headquarters in Songdo, Incheon (Park Hyun-koo/The Korea Herald)Remsima is Celltrion’s biosimilar drug referencing Johnson & Johnson’s autoimmune disease tre
Nov. 3, 2017
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CJ to sell pharmaceutical affiliate
Foods-to-entertainment conglomerate CJ Group said Friday it decided to sell off its 34-year-old pharmaceutical affiliate CJ Healthcare due to the limitations of its domestic business.Morgan Stanley has been named the underwriter for the sale that industry watchers expect to exceed 1 trillion won ($898.87 million), the affiliate's estimated market cap when it sought stock market listing early last year. The flotation was postponed at the time due to unfavorable market conditions. (Yonhap)CJ offic
Nov. 3, 2017
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Baskin-Robbins to sell Bacchus sorbet
Dong-A Pharmaceutical has partnered with the local unit of global ice cream chain Baskin-Robbins to turn its signature energy drink Bacchus into a sorbet, according to industry sources Friday.The new sorbet will carry the flavor of Dong-A Pharmaceutical’s flagship Bacchus energy drink, which has developed an iconic image in South Korea since its launch in 1963.The new sorbet will reportedly go on sale later this month. (Yonhap)The Bacchus brand includes sugar-rich, caffeine-heavy Bacchus-D sold
Nov. 3, 2017
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iPhone 8 sales kicks off in S. Korea amid lukewarm response
US tech giant Apple Inc. started sales of the new iPhone 8 smartphones in South Korea on Friday, with the devices receiving a relatively tepid response from local users, industry watchers said.According to sources, the preorders for the iPhone 8 smartphones were only 60-70 percent of the iPhone 7 series in South Korea. (Yonhap)Industry watchers said the sluggish sales of the iPhone 8 came as some Apple users in South Korea are waiting for the iPhone X. The US company has not yet decided on the r
Nov. 3, 2017
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Cosmetics companies engaged in aggressive overseas marketing campaigns
Local cosmetics companies are taking more aggressive approaches to win over foreign markets, as they gain confidence from easing tensions between South Korea and China, industry officials said Friday.AmorePacific, which suffered a drop in stock prices and exports due to Seoul's diplomatic row with Beijing, is set on a three-pronged marketing strategy eyeing China, Southeast Asia and North America, its officials said.In China, it plans to strengthen its market presence through its research center
Nov. 3, 2017
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[Exclusive] Allergan aims to start phase 3 trials of Medytox’s liquid BTX next year
Allergan said Friday that it would initiate phase 3 clinical trials of Innotox, Medytox’s type A liquid botulinum toxin product, “as soon as is reasonably possible.”The announcement indicates that the trials for the cosmetic treatment, also known as BTX, would likely begin next year if Medytox supplies the testing batch as scheduled.This is the first time in more than a year the US drugmaker has officially spoken up on its development plans for Innotox, and its partnership with Seoul-based Medyt
Nov. 3, 2017
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Samsung tops global smartphone market in Q3
Samsung Electronics Co. stood as the world's top smartphone producer in the third quarter in terms of shipments, data showed Friday, helped by rising sales of budget models.Industry tracker Strategy Analytics said the South Korean tech giant sold 83.4 million units of smartphones in the July-September period, with its share standing at 21.1 percent. It marked a sharp growth from a year earlier when the company shipped 75.3 million units. "Samsung's growth is being driven by strong demand for its
Nov. 3, 2017
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Builder confidence drops amid tightened loan rules, reduced budget
South Korea’s construction business is set to slow down over the next few years due to stricter loan regulations aimed at curbing real estate speculations and the reduction in social overhead capital budget, according to local economic think tanks.The Construction Business Survey Index, a sectoral benchmark for business sentiment, took a slight upturn this month but did not show actual growth in the number or amount of construction deals, according to data released Thursday by the Construction &
Nov. 2, 2017
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LS Cable & System builds EV battery parts plant in Poland
LS Cable & System said Thursday it plans to invest 20 billion won ($18 million) to build a plant for electric car battery parts in Dzierzoniow, southwestern Poland. The new Poland plant is aimed at supplying battery parts to the European market, where automakers are increasing the portion of their electric cars and Korean battery makers are seeking to further their presence. The plant will be capable of supplying battery parts to around 200,000 cars annually starting from 2019. They will be supp
Nov. 2, 2017