Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Man escapes DUI charges by downing bottle of soju while pulled over
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Pay debate plagues foreign nanny pilot
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K-pop star lip-syncing controversy flares up again
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35% of S. Koreans view unification 'unnecessary'
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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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[Reporter’s Notebook] Was Netflix film opening BIFF really a bad thing?
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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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Woori Card sells $50m in bonds in Japan
Woori Card, a South Korean credit-card firm, said Monday it has raised $50 million by selling dollar-denominated bonds in Japan.Woori Card, however, did not give specifics on the sale of so-called Shogun bonds, including the pricing. (Yonhap)Shogun bonds refer to debt issued in Japan by a non-Japanese firm and denominated in a currency other than the Japanese yen.Proceeds from the sale of the two-year debt will be used to repay its maturing debt and finance its businesses, the card company said.
July 10, 2017
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Hyundai to begin sale of racing cars later this year
Hyundai Motor said Monday it will launch its first racing car for sale this year, a move to enhance its brand image in global markets.Hyundai Motor has developed the i30 N TCR based on the i30 N hatchback, which has completed a 24-hour endurance race at the 24 Hours Nurburgring race in Germany for two consecutive years, the company said in a statement. Hyundai Motor's i30 N TCR races on a track in Italy in this undated photo. (Photo courtesy of Hyundai Motor) (Yonhap)"We are planning to further
July 10, 2017
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Hanwha Q Cells mass-produces 1 billion units of Q.ANTUM CELLs
Hanwha Q Cells Co., the world's leading solar cell maker, said Monday it has produced 1 billion units of Q.ANTUM CELLs since the product was commercialized in 2014.The Q.ANTUM CELL refers to one of Hanwha's solar cells, which are used to generate electricity through solar power. (Yonhap)The company said the Q.ANTUM CELL adopted the Passivated Emitter and Rear Cell technology for the first time in the industry. The technology centers on inserting a rear reflection to improve power efficiency.If c
July 10, 2017
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Tech giants roll out budget handsets ahead of flagship releases in H2
South Korean tech giants are engaging in a fierce competition with mid-end smartphones to grab budget-conscious customers ahead of the launch of their major flagships slated for later this year, industry watchers said Monday.According to industry sources, LG Electronics Inc. is planning to showcase its mid-end smartphone, the Q6, this week, which can be considered a smaller edition of the flagship G6 released earlier this year. (Yonhap)The Q6 is expected to come with the 18:9 ratio Full Vision d
July 10, 2017
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[Photo News] Brick by brick
BRICK BY BRICK -- Visitors look at art made out of brick during the 2017 B-Festa hosted by BricknArt at Setec in southern Seoul, Sunday. (Yonhap)
July 9, 2017
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[Photo News] Samsung in Myanmar
SAMSUNG IN MYANMAR -- Visitors receive consultations at Samsung Electronics’ premium service center that opened in Yangon, Myanmar last month. The tech giant said it opened the facility offering a one-stop venue for products, after service and other experiences. Myanmar with a population of 56 million has been rising as a promising market for global manufacturers. (Samsung Electronics)
July 9, 2017
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Shinsegae DF stores duty-free products in restroom
Shinsegae DF temporarily stored its duty-free products in a disabled restroom at Incheon Airport on Thursday morning due to a lack of space in the pickup area, the airport corporation and Shinsegae DF confirmed Friday, after complaints raised the previous day.“Our pickup area is much smaller than that of Lotte Duty Free or Shilla Duty Free, and the airport instructed us to temporarily keep the products in the restroom,” said a spokesperson for Shinsegae DF.Once duty-free products are purchased a
July 9, 2017
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[Monitor] Electric power demand to reach record high
This summer’s demand for electric power in South Korea is to reach an all-time high of 86.5 million kilowatts, the Korea Power Exchange said Friday.This is 1.32 kW more than last year’s and the highest in record.KPX, however, said that as the supply capacity reaches 96.6 kW with a reserve rate of 11.7 percent, there will be little problem in meeting the demand.The Ministry of Trade, Industry and Energy ordered close monitoring and due adjustments in the output as well as stronger energy saving c
July 9, 2017
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[Herald Interview] Havas Korea expands presence in Korean ad market
Quick and wide adaptation of technology is what makes South Korea a tough yet important market for communications firms, said a regional chief of a leading global advertisement and public relations company.“Korea is the first country that I visited among the 19 countries in the Asia Pacific region when I came to work last October,” said Mike Amour, the CEO of Havas APAC Group, during an interview with The Korea Herald at the Havas Korea office in Seoul last week.Mike Amour, the CEO of Havas APAC
July 9, 2017
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Women take up 23% of jobs at top firms: study
Women took up 22.6 percent of the entire workforce in South Korea‘s top 600 firms last year, data by the Korea Economic Research Institute showed Sunday.Among the 531 firms, those that were available for study out of the 600 non finance companies, a total of 254,452 employees were women, an increase of 27,424 from 2012. The proportion of women has gradually increased, rising by 0.1 percent from 2015, and by 1.3 percent since 2012. (123rf)By company, IT service provider Hyosung ITX had the highes
July 9, 2017
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Tourism industry to continue to suffer as THAAD issue remains unresolved
The tourism industry here is expected to continue to suffer from plunging revenues and a record-breaking cross-border deficit due to a lack of progress made between the leaders of South Korea and China over the THAAD dispute.Between March and May, the number of Chinese tourists in Korea plunged to 841,952, down 57.7 percent from the last year’s 1.98 million, according to the Korea Tourism Organization’s data Sunday.Of the total number of tourists that visited Korea in 2016, 46.8 percent or 8 mil
July 9, 2017
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SK mulls investments in Tianjin industrial projects
SK Group Chairman Chey Tae-won recently met with government officials in China to discuss possible investments in a variety of business sectors, the company said Sunday. On Friday, SK Chairman Chey had meetings with officials from the Tianjin City to share views on petrochemicals, semiconductors, environment-friendly energy and bio technology projects being undertaken by the city, the group said in a statement. Chey Tae-won (SK Group-Yonhap) "As SK has a competitive edge in semiconductors,
July 9, 2017
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Korea transportation worker numbers fall record 24% in June
Workers hired by South Korean shipbuilders, aircraft and train manufacturers plunged 24 percent last month amid sector-wide restructuring and low market demand, the labor ministry said Sunday. The number of workers who have employment insurance in the three major transportation sectors and equipment industries fell by 47,500 to 148,000 in June from 195,500 a month earlier, the Ministry of Employment and Labor said. (Yonhap)In May, the corresponding figure declined 22.2 percent from April largely
July 9, 2017
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Hyundai Merchant to develop Vietnam port facilities
Hyundai Merchant Marine Co., South Korea's biggest shipping line by sales, said Sunday it will work with a Vietnamese company on a port development project in the Southeast Asian country. Hyundai Merchant Marine signed an initial agreement with Saigon NewPort to jointly develop and operate port terminals and other logistics facilities, the company said in a statement. (Yonhap) "Vietnam is a strategically important market (for shipping lines). This year, Hyundai Merchant's shipping volume to
July 9, 2017
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Trade commission starts anti-dumping probe on imported printing paper
Korea's trade commission said Sunday that it has formally started a probe on coated printing paper from Japan, China and Finland to check if the imports unfairly undercut prices. The Korea Trade Commission that undertakes investigations and makes determinations on injury to the Korean industry, said Hansol Paper, Hankuk Paper and Hongwon Paper asked for an investigation, claiming imports were hurting local producers by dumping goods here. The KTC said it will conduct a preliminary review for
July 9, 2017
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Trade mediation agency settles disputes worth 41.4 bln won in H1
South Korea's trade mediation agency resolved 41.4 billion won ($35.8 million) worth of unfair contracts through arbitrations during the first six months of the year, the corporate watchdog said Sunday. The Korea Fair Trade Mediation Agency -- a body under the Fair Trade Commission, the state antitrust office -- mediated1,242 cases of unfair trading, subcontract work, franchise operations and retail business in the January-June period, up 28 percent from a year earlier, according to the FTC.
July 9, 2017
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Consumer sentiment among low-income earners declining: data
Consumer sentiment among low-income earners have deteriorated despite upbeat forecasts fueled by strong exports and public expectations that the new Moon Jae-in administration will help propel growth, official data showed Sunday. According to findings by the Bank of Korea, the consumer sentiment index among the country's underprivileged making less than 2 million won ($1,730) per month headed south in direct contrast to high-income earners, who had a more rosy picture about the future.(Yonhap)
July 9, 2017
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GM Korea workers vote to walk out amid net losses
Unionized workers at GM Korea Co., the South Korean unit of General Motors Co., voted for a strike on Friday to demand higher salaries and other benefits as the company struggles with three straight years of losses. Some 69.4 percent of the carmaker's 15,000-strong unionized workers cast ballots in favor of the general strike, the union said, a move that may set the stage for a walkout. In South Korea, by law, a union cannot go on strike during mediation by the state-run National Labor Relat
July 7, 2017
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Samsung remains wary of future even with record earnings
Despite excitement in the market over the news that Samsung Electronics is set to become the most profitable company in the world, executives at the tech giant’s Seoul office remain wary about the company’s future, citing its top leadership vacuum.On Friday, Samsung Electronics announced that it had reached 60 trillion won ($51 billion) in estimated revenues and 14 trillion won in operating profits in the second quarter, the highest levels in the company’s history. Employees walk past the Samsun
July 7, 2017
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LG Electronics estimates lower-than-expected Q2 operating profit
LG Electronics Inc. said Friday its second-quarter operating profit is estimated at 664.1 billion won ($574.5 million), posting a weaker-than-expected performance apparently on sluggish smartphone sales despite a robust performance of its home appliance business.The operating profit for the April-June period marks a 13.6-percent jump from the 584.6 billion won posted a year earlier, South Korea's No. 2 tech giant said in a regulatory filing. (Yonhap)Sales came to 14.5 trillion won, also up 3.9 p
July 7, 2017