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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Samsung SDI makes turnaround in Q3
Samsung SDI said Tuesday the firm has made a turnaround in the third quarter on the back of stable and even growth in both battery and electronic material businesses. The firm posted 1.7 trillion won ($1.5 billion) in sales, a rise of 32.4 percent, and 60.2 billion won in operating profit, making a turnaround with the rise of 170 billion won year-on-year. Samsung SDI said its rebound was driven by solid performance in both of its battery and electronic materials. Its battery sales rose from Euro
Oct. 31, 2017
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Retailers cautiously optimistic of China thaw
Retailers are cautiously optimistic about the possibility of rising sales as relations between Korea and China show signs of reconciliation.On Tuesday, the Korean and Chinese foreign ministries issued a joint statement saying the two countries “agreed to expeditiously bring exchanges and cooperation in all areas back onto a normal track,” following a meeting between Korean security official Nam Gwan-pyo and China‘s assistant foreign minister Kong Xuanyou.The official statement came after a spoke
Oct. 31, 2017
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SK Planet upgrades 11st global shopping site
SK Planet‘s online shopping platform 11st has upgraded its online shopping platform for overseas customers, the company said Tuesday. Available in both English and Chinese, the newly launched 11st Global gives overseas shoppers access to a wider range of products listed by Korean sellers. (SK Planet)The renewed website allows customers to combine multiple orders into the same parcel, according to the company. Overseas customers can also choose payment options including PayPal and Alipay, it add
Oct. 31, 2017
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[Herald Interview] Increased Asia-Pacific forestation to expand ecotourism: APEC director
As Seoul played host to the Asia-Pacific Economic Cooperation’s fourth annual Meeting of Ministers Responsible for Forestry, ministers from around the region came to Korea to highlight the importance of woodland expansion and management on an economic level. Alan Bollard, executive director of the APEC Secretariat based in Singapore, says aside from the obvious environmental advantages for increasing forestation in any nation, expanding a region’s woodland also provides countless economic bene
Oct. 31, 2017
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Forestry ministers highlight measures for illegal logging, job creation at APEC forum
Ministers from across the Asia-Pacific region have gathered in Seoul this week to discuss the varying social, economic and environmental issues related to forestry management, during the Asia-Pacific Economic Cooperation’s fourth annual Meeting of Ministers Responsible for Forestry, held from Monday to Wednesday. One of the main focuses of this year’s forum is stressing the need for regional cooperation in tackling illegal logging and related product trade restrictions. The ministers meeting hi
Oct. 31, 2017
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Buoyed by record profits, Samsung to bet big on chips despite oversupply concerns
Samsung Electronics, after posting more record profits in the third quarter driven by strong chip performance, said it would further invest in memory chips next year, despite some market concerns about oversupply.Samsung said Tuesday it posted revenue of 62 trillion won ($55 billion) and an operating profit of 14.5 trillion won, a 30 percent and 179 percent rise respectively on-year. Nearly 70 percent of the operating profit came from its memory chip unit that posted an operating profit of 9.96
Oct. 31, 2017
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Samsung announces new board chairman, three CEOs
After announcing record-breaking earnings in the third quarter, Samsung Electronics on Tuesday revealed its new leadership by promoting current heads of three business divisions to CEOs, and appointing jailed de-facto leader’s close associate as the new chairman for the board of directors, choosing stability over radical makeover. Samsung announced that President Kim Ki-nam has been promoted to CEO of the Device Solutions Division, while Kim Hyun-suk will be CEO of the Consumer Electronics Divis
Oct. 31, 2017
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Decades of forest-building efforts pay off in S. Korea: KFS
Since its inception, the state-run Korea Forest Service has been striving to turn wasteland into forests in the 1970s and to cultivate forestry resources since late 1980s.The decadeslong state-led efforts appears to be paying off. The copious volume of forests now provides not just environmental benefits but also act as commercial assets and public goods, according to the KFS.(Yonhap)South Korea has 6.3 million hectares of forest, covering 63.2 percent of its land, as of 2015, the fourth-highest
Oct. 31, 2017
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Korean firms' sales and operating profit margin up in 2016
Combined sales of South Korean companies rose 2.6 percent in 2016 from a year earlier due to brisk construction and housing businesses, central bank data showed Tuesday.The Bank of Korea said sales of the manufacturing sector fell 0.5 percent in 2016, compared to a 3-percent contraction in 2015. Meanwhile, sales in the non-manufacturing sector grew 5.4 percent in 2016 from a year earlier, driven by the construction and housing businessesConglomerates said their sales dropped 1.6 percent in 2016,
Oct. 31, 2017
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Convenience store CU launches food line for ‘lone drinkers’
Convenience store chain CU said Tuesday that it has launched single-portion packages for people who drink alone.The new CU package comes in two types with one for soju and the other for beer. Both are priced at 3,800 won ($3). Soju package (left) and beer package (CU)The soju package has spicy pork, pan-fried dumplings, cheese gratin, sausage cooked with vegetables and spicy garlic-flavored ramen. The beer package has Japanese savory pancake okonomiyaki, deep-fried dumplings in hot pepper sauce,
Oct. 31, 2017
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Number of outbound travelers hit record high in Jan-September period: data
The number of South Koreans traveling abroad hit a record high this year amid a growing surge in the number of outbound tourists, industry data showed Tuesday.The figure was 19.6 million for the first nine months this year, according to the statistics provided by the Korea National Tourism Organization. (Yonhap)The number compares with 18.5 million for the January-October period last year, when the annual figure was the largest ever at 22.3 million.The figure for the whole of this year will like
Oct. 31, 2017
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Korea's industrial output up for 3rd month in Sept.
South Korea's industrial output rose slightly for the third consecutive month in September from a month earlier on a rise in major industries, government data showed Tuesday.Production in the mining, manufacturing, gas and electricity industries climbed 0.1 percent on-month in September, following an adjusted 0.1 percent rise in the previous month, according to the data by Statistics Korea. It is the first time in more than four years that the figure has remained in positive terrain for three mo
Oct. 31, 2017
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Samsung Electronics' net more than doubles on-year in Q3
Samsung Electronics Co. on Tuesday said its third-quarter net profit more than doubled on-year, mainly led by strong returns from its chip business amid an industrywide boom.Net profit came to 11.1 trillion won ($9.87 billion), jumping from 4.53 trillion won posted a year earlier, the company said through a regulatory filing.Operating profit came to 14.53 trillion won in the July-September period, also rising sharply from 5.2 trillion won posted last year. The figure met the estimate of 14.5 tri
Oct. 31, 2017
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KAI struggles for reform after corruption scandal
Korea Aerospace Industries, the nation’s sole aircraft manufacturer, said Monday that it kicked off a self-reform committee, in an apparent attempt to recover from the multibillion won corruption scandal that led to the arrest of its former chief.The management innovation task force was one of the key pledges put forward by the organization’s new chief Kim Jo-won, who took office as president and chief executive on Thursday.Scheduled to be active until December, the team will be led by Kim Ho-jo
Oct. 30, 2017
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Samsung chairman’s assets could be subject to tax: FSC chief
Samsung Chairman Lee Kun-hee’s assets could be subject to taxes if irregularities are found since he was investigated in 2008 for illegalities, the chief of the nation’s financial regulator said Monday.At a parliamentary audit session Choi Jong-ku, chairman of the Financial Services Commission, told lawmakers that the regulator will review traces of 4.4 trillion won ($3.9 billion) in assets that had been kept under accounts registered with borrowed names. The authorities, in cooperation with the
Oct. 30, 2017
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Hyundai E&C to start sales of premium Hillstate brand in Singil
Hyundai Engineering and Construction will begin lot sales of its new premium Hillstate brand apartments in Singil-dong, Yeongdeungpo-gu, Seoul, the company said Monday.Hillstate Classy Comfort is being built as part of an urban redevelopment project of Singil New Town’s ninth zone.An image of Hyundai E&C’s Hillstate Classy Comfort in Singil-dong, Seoul (Hyundai E&C)The complex will comprise 14 apartment buildings as high as 29 stories for a total of 1,476 households. Of them, 701 households at a
Oct. 30, 2017
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SPC Samlip shoots for W100b in fresh convenience food sales
SPC Samlip said Monday that it is aiming to increase revenue from its lineup of fresh ready-to-eat products to 100 billion won ($89 million) by 2020, bringing total revenues for the company to 4 trillion won.“The fresh convenience food market including salads and ready-to-eat fruit is growing at more than 30 percent each year, and has infinite growth potential,” said Lee Myung-koo, CEO of SPC Samlip, at a ceremony commemorating the company‘s 72nd anniversary Friday. “With SPC Fresh Food Factory
Oct. 30, 2017
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Falling fur prices lead to rising demand among younger consumers
Demand for fur products is rising among shoppers from their 20s to 40s, as prices fall to more accessible levels and designs become trendier, sales data showed Monday.According to Shinsegae Department Store, the proportion of fur sales for shoppers between the ages of 20 and 49 has risen every year since 2014. Last year, fur sales to consumers in their 40s marked 29.8 percent, surpassing sales to consumers in their 50s for the first time. The Trendy Fur Fair at Shinsegae Department Store is prom
Oct. 30, 2017
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Nongshim to double ramen supplies to foreign carriers by 2020
Food manufacturer Nongshim is hoping to double the amount of its ramen products it supplies to foreign carriers by 2020, the firm said Monday.“Nongshim will work to provide customized in-flight food for each country, and expand its in-flight offerings beyond Shin Ramyun, taking into account each region’s cultural, religious and market characteristics,” the company said. Nongshim’s Shin Ramyun served in-flight (Nongshim)This year marks the 20th anniversary of Nongshim providing its trademark Shin
Oct. 30, 2017
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iPhone 8 sales off to bumpy start in Korea
Apple’s new iPhone 8 and iPhone 8 Plus have seen weak initial sales in the Korean market since the US tech giant opened preorders on Friday. The new flagship smartphone’s difficult start here is apparently driven by shoppers waiting for the symbolic iPhone X model, the lack of innovation and ongoing problems of battery swelling in several nations. According to local mobile carriers on Monday, the initial sales of the iPhone 8 series are around 60 to 70 percent compared to the iPhone 7. Korean te
Oct. 30, 2017