Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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K-pop star lip-syncing controversy flares up again
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Pay debate plagues foreign nanny pilot
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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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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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[Photo News] Incheon Airport signs an agreement with Lion Travel
CALLING TAIWANESE TOURISTS -- Incheon Airport Corp. CEO Chung Il-young (left) poses with Taiwanese travel agency Lion Travel President Jerry Lin at the signing ceremony at the Grand Hyatt Hotel in Taipei, Taiwan Thursday. Incheon International Airport said Thursday that it had signed the agreement with Lion Travel to coordinate marketing efforts targeting Taiwanese tourists coming to Korea. Incheon Airport will offer exclusive deals and coupons for Lion Travel customers coming to the airport. In
June 8, 2017
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GS E&C expected to achieve 3-digit operating profit
GS Engineering & Construction is on its way to reaping record-high earnings this year, on the back of Korea’s booming housing market, according to figures from financial information provider FnGuide on Thursday. The company had to restructure its business portfolio following its worst fiscal performance in 2013 when it recorded an operating loss of 950 billion won ($844.5 million). However, GS E&C is expected to post three-digit operating profit growth this year. Its growth performance is expect
June 8, 2017
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Major retailers present plans for joint growth under Moon government
Major retailers are touting and presenting as their main goals joint growth with small business owners, in line with the new liberal Moon Jae-in administration.Shinsegae’s E-mart has been leading the pack, on Wednesday signing a deal with the city of Anseong, Gyeonggi Province, to open a No Brand joint growth store in Anseong Machum Market to attract customers to the traditional market.Hyundai City Mall located in the Garden 5 shopping complex in Songpa-gu, Seoul. (Yonhap)To protect sales of su
June 8, 2017
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Hyundai Samho lands W400b pre-IPO investment
Midsized shipbuilder Hyundai Samho Heavy Industries, an affiliate of Hyundai Heavy Industries, announced Thursday that the company has attracted a 400 billion won ($355.4 million) pre-initial public offering investment from a local private equity firm, IMM Private Equity.The pre-IPO investment is 100 million won more than what was originally offered by the equity firm in April. The deal is expected to lower Hyundai Samho’s debt ratio from the current 96.4 percent to 72.8 percent, according to a
June 8, 2017
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[Herald Interview] Cook Jung uncovers roots of Korean cuisine
Spreading the value of one’s culture is often seen as a heroic mission, undertaken by experts backed by large organizations. However, Cook Jung Seo-young broke such paradigms during the first encounter at a cafe located in Samgakji, dressed in her everyday clothes instead of her chef uniform, with her eyes fixed on her laptop.“It being near the end of our project, things are quite hectic,” she said. Jung Seo-young is introducing Bburi Kitchen’s website on her laptop at a cafe in Samgakji on May
June 8, 2017
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Electric cars to receive blue license plates
Electric cars and fuel cell electric vehicles in Korea will be assigned blue license plates starting Friday, according to the Transport Ministry on Thursday.“The government has chosen to provide different license plates for electric cars to increase interest in eco-friendly cars and give pride to the drivers of these cars as environment and energy-related issues become more important,” the Ministry said. (Yonhap)The film used to cover the license plates will allow sensors to quickly identify el
June 8, 2017
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[Photo News] Shinsegae runs pop-up exhibition for Han Soo
HAN SOO POP-UP IN SHINSEGAE -- Shinsegae DF said Thursday that it is running a pop-up exhibition for Han Soo that features modern reinterpretations of traditional Korean crafts at Dongdaemun Design Plaza in Jung-gu, Seoul. The exhibition, a collaboration with design magazine publisher Design House, aims to introduce young designers working in traditional crafts. It will continue through June 23. (Shinsegae DF)
June 8, 2017
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Asiana joins hands with Luotian Elementary School
Asiana Airlines said Thursday that the company has partnered with Luotian Elementary School in Jianxi province, China, to provide support for children’s education. The partnership ceremony was attended by Moon Myeong-young, Asiana’s executive vice president for passenger business, Vice Consul General Seo Yong-won of the Korean Consulate in Wuhan and Peng Kai Xian, head commissioner of the Anyi County People’s Government.An Asiana Airlines flight attendant teaches a flight crew vocational class a
June 8, 2017
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Air Busan begins daily flights between Daegu-Tokyo
Air Busan, a South Korean budget carrier, on Thursday launched a new route connecting the country's southern city of Daegu to Tokyo, apparently in a bid to cope with the falling number of passengers from China.The daily passenger service will depart from Daegu at 8:40 a.m. every morning and arrive at Narita International Airport at 10:40 a.m. (Yonhap)Air Busan also expanded the number of flights connecting Daegu and Sapporo to five times a week from the previous three. The route connecting to Os
June 8, 2017
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Five more firms picked for fast-track restructuring program
Five South Korean firms received government approval to carry out their voluntary corporate restructuring through fast-track legal and administrative procedures, the industry ministry said Thursday.The Ministry of Trade, Industry and Energy said a government panel chose five companies, including LG Siltron Inc., which manufactures wafers for semiconductors; ITC Co., a cable supplier; and Shin Pung Textile Co. to endorse their proposed restructuring efforts to boost competitiveness. (Yonhap)With
June 8, 2017
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LVMH chairman visits Korea ahead of exhibition
Bernard Arnault, chairman of the French luxury goods conglomerate LVMH, visited South Korea for a two-day trip on Wednesday to take part in an exhibition set up by its Louis Vuitton brand here, industry sources said. The 68-year-old business tycoon showed up at Dongdaemun Design Plaza in Seoul to check the exhibition titled "Volez, Voguez, Voyagez - Louis Vuitton," which will open Thursday and run through Aug. 27. This photo, taken on June 7, 2017, shows the exhibition Volez, Voguez, Voyagez -
June 7, 2017
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Samsung Heavy set to bag $1.5b deal
Samsung Heavy Industries Co., a major shipyard here, is likely to win a $1.5 billion deal to build a total of 12 articulated tug barges, industry sources said Wednesday.According to the sources, Samsung Heavy has signed a letter of intent with SeaOne for the deal which calls for the construction of the barges that will carry compressed gas. (Yonhap)Negotiations are still underway to finalize the deal, the observer said. Details of the potential deal have not been disclosed.If the deal goes smoot
June 7, 2017
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Singapore Airlines revamps frequent flyer program
Singapore Airlines has introduced new benefits and rewards under its PPS Club program, the highest tier within the airliner’s frequent flyer program, KrisFlyer. Among the new benefits exclusive to PPS Club members are the non-expiry of KrisFlyer miles, priority access to Saver award redemption inventory, and fast-track security and immigration clearance at selected airports. In addition, members will have access to complimentary preferred seat selection when traveling in select classes. “The int
June 7, 2017
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Food giants rush to adopt holding company structures
Major South Korean food companies are moving fast to adopt holding company structures amid growing concerns among corporate circles over the Moon Jae-in administration’s chaebol reform drive. Maeil Dairy Industry said it changed its name to Maeil Holdings Co. in April as it has adopted the holding company structure and split off Maeil Dairies as a business unit. Orion, a local confectionary company, also took a similar path, splitting off the company into a holding company -- Orion Holdings -- a
June 7, 2017
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Borny recalls Outlast air mattresses over rash
Baby goods maker Borny Korea has recalled its line of products made with the Outlast material after receiving reports the material’s powder coating can cause rashes. On Wednesday, the company posted an official apology from its President Hong Seong-woo via its website.“We began selling the products without suspicion because the material had been certified as safe, passed through customs without problems and had passed all safety inspections in Korea for children’s products,” the statement read.O
June 7, 2017
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[Photo News] Homeplus releases Haeundae Beach Ale for this summer
BEER FOR HAEUNDAE – Homeplus’ latest product Haeundae Beach Ale is on display. The ale is a craft beer targeting the summer vacation season featuring the famous beach in Busan with an alcohol level of 4.2 percent priced at 3,900 won ($3.50) a can. The product is manufactured by Korea Craft Brewery and is to be sold at 142 Homeplus branches nationwide, the company said Wednesday. (Yonhap)
June 7, 2017
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Hyundai Asan to launch new cruise tour between Korea, Japan
Hyundai Asan Corp. said Wednesday it will offer a new cruise package from the southern port city of Busan starting next month. The 75,000-ton Costa Victoria, which can carry up to 3,000 people, will make the first departure from a port in Busan, some 453 kilometers southeast of Seoul, on July 27 for a five-day round trip to Japan, the tourism company said. (Yonhap)The ship is equipped with various entertainment facilities, including an outdoor swimming pool, a duty-free shop, restaurants and a
June 7, 2017
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Unfair intra-affiliate transactions rise 23% despite regulations
Unfair intra-affiliate transactions by business conglomerates rose by 23.1 percent last year, despite the government's efforts to clamp down on such business practices that are considered unfair ways to help such companies, industry data showed Wednesday.According to the data by corporate tracker CEO Score, the value of unfair in-house transactions by 91 affiliates of conglomerates rose by 1.4 trillion won ($1.2 billion) from two years ago to 7.9 trillion won last year. (Yonhap)The total value o
June 7, 2017
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Posco fires up expanded blast furnace
South Korea’s largest steelmaker Posco fired up its third blast furnace Tuesday after three months of renovation work that turned the steelmaking unit into the world’s fifth largest, the company said. Posco spent a total of 370 billion won ($330 million) to reconstruct and expand its capacity to 5,600 cubic meters from 4,350 cubic meters. Posco also added an automated monitoring system to check “the inner condition of the blast furnace” on a real-time basis, an official said. The monitoring syst
June 6, 2017
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[Photo News] Food prices rise amid severe drought and outbreak of bird flu
RISING FOOD PRICES -- A customer shops at a supermarket in Seoul on Tuesday. With a severe drought and outbreak of bird flu, consumers worry prices of fresh foods including chicken and eggs could rise further. As of Monday, chicken rose to 5,905 won ($5.30) per kilogram and 30 eggs had risen to 7,931 won, according to Korea Agro-Fisheries & Food Trade. (Yonhap)
June 6, 2017