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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[KH Explains] Is private equity giant MBK a risk-taker or renegade?
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Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
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[From the Scene] Hyundai Mobis catalyzes electrification with new mobility tech
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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Samsung holds 10th most valuable brand: Forbes
Samsung Electronics Co. is the 10th most valuable brand in the world, up one notch from last year, with its archrival Apple Inc. standing at the top of the list, US-based business magazine Forbes said on Wednesday.Samsung's brand value was estimated at $38.2 billion this year. Apple maintained No. 1 in terms of brand value with an estimate of $170 billion, up 10 percent, the magazine said. (Yonhap)Google came in second at $101.8 billion, followed by Microsoft with $87 billion, Facebook with $73.
May 24, 2017
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Lotte launches Fitz, challenging standard beer market
Lotte Liquor said Wednesday that it would be releasing a new line of beer on June 1, in the hope of finding growth in a stagnant domestic beer market.“The beer market in Korea has been growing at a compound annual growth rate of 4.9 percent between 2014 and 2016, but much of that growth has been fueled by imported beers,” said Baek Seung-sun, head of marketing for the new Fitz Super Clear beer, at a press conference at Lotte Hotel World in southern Seoul Wednesday. Models pose with Fitz Super Cl
May 24, 2017
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SK head leaves for Beijing with aim to normalize Chinese businesses
Chey Tae-won, the head of South Korea's No. 3 conglomerate SK, departed for Beijing on Wednesday, with the aim of meeting government and business leaders to help the group normalize operations in the world's second-largest economy.The trip comes as SK and other South Korean companies are facing difficulties operating in China due to diplomatic tensions between the Northeast Asian neighbors over the deployment of the US missile defense system here. SK Group head Chey Tae-won speaks to reporters a
May 24, 2017
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Hyundai E&C opens second dream center campus in Vietnam
Hyundai E&C has established its second campus for Hyundai-KOICA Dream Center Vietnam, together with the College of Urban Works Construction of Hanoi, allowing students to receive education on plant piping and welding technology.Built in cooperation with the Korea International Cooperation Agency, the center is a vocational school that aims to share Hyundai Motor Group’s technologies with the youth in developing countries.The company also plans to provide job opportunities to graduates when it se
May 24, 2017
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Korean SMEs near bottom among OECD countries in entrepreneur spirit
South Korea's small and medium-sized enterprises rank near the bottom in their ability to recognize entrepreneurial opportunities and worry too much about failing, a report from the Organization for Economic Cooperation and Development said Wednesday.The report, "Small, Medium, Strong Trends in SME Performance and Business Conditions," looks at the policies of the 34 member states to identify those that stimulate SMEs and entrepreneurship. (Yonhap)SMEs account for 60 percent of total employment
May 24, 2017
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Govt. to release its egg, poultry stock to help stabilize prices
The government will release its egg and poultry stock early next month to stabilize prices soaring again, the agriculture ministry said Wednesday.Depending on price moves, up to 5 million eggs will be released for two weeks at a price 30 percent lower than the market, according to officials at the Ministry of Agriculture, Food and Rural Affairs. For poultry meat, the government will put in 2,100 tons from May 31, an amount equal to one to two days of domestic consumption. The meat will be sold 5
May 24, 2017
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Toshiba's sale of chip business to benefit Korea: report
Japanese tech giant Toshiba Corp.'s efforts to sell its memory business will eventually benefit South Korean industry players as the move can be considered an opportunity for them to expand their market shares, a report said Wednesday."As Toshiba will be put off in making investments in the 3-D NAND flash sector, there will be a shortage in supply that can become more serious," said Choi Do-yeon, a researcher at Shinhan Investment. "This will lead to expanded investment opportunities for Samsung
May 24, 2017
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Samsung Engineering signs letter of intent for W513b plant
Samsung Engineering Co., the plant building unit of South Korea's top conglomerate Samsung Group, said Tuesday that it has signed a letter of intent with a company to build a petrochemical plant in Southeast Asia. (Yonhap)The company said the proposed deal is worth 513 billion won ($456 million) in a regulatory filing, though it did not reveal details, citing a confidentiality agreement. (Yonhap)
May 23, 2017
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[Monitor] No. of foreign visitors to duty free shops fall 19%
The number of foreign customers to South Korean duty-free stores dropped by 19.2 percent from 1.23 million in March to 998,000 last month, data by the Korea Duty Free Shops Association showed Tuesday.The decline was largely due to a sharp decrease in Chinese visitors following Beijing‘s trip restriction in retaliation against Seoul’s hosting of a US missile defense program.The April figure is also the lowest in nearly two years since the duty-free stores suffered a slump in light of the outbreak
May 23, 2017
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[Photo News] Chicken prices rise again due to unstable supplies
CHICKEN PRICES SOAR, AGAIN -- A consumer browses through chicken displayed at a retail store in Seoul on Tuesday. Due to unstable supplies, the three major retail chains E-Mart, Lotte Mart and Homeplus recently raised the prices of chicken meat. (Yonhap)
May 23, 2017
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Korea Southern Power Co. constructs plant in Chile
Korea Southern Power has built an independent power plant in Chile, the first by a Korean company, the company said Tuesday.“The construction of the Kelar plant is meaningful in that it has provided the stepping stone to enter South America’s energy market,” said Yoon Jong-geun, president and CEO of Kospo.“Kospo will leap forward as one of the world’s top 10 power companies by 2030, posting overseas sales of $500 billion. In order to do so, we will focus on renewable energy exports and advance i
May 23, 2017
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Businesses cautiously hopeful for thawing China-Korea relations
The inauguration of President Moon Jae-in in South Korea has raised hopes for thawing relations between Seoul and Beijing, but businesses say that it may take some time before sales rebound. In March, the Chinese government began taking unofficial measures against Korean businesses serving Chinese customers and tourists. These actions were interpreted as retaliation for the Korean government’s decision to install an American anti-missile system here. Special envoy Lee Hae-chan (left) shakes hand
May 23, 2017
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[Herald Interview] We think in generations, not in quarters: Merck chairman
It all started from pure scientific curiosity when Merck decided to develop liquid crystal in 1903. The organic substance, however, remained in the research and development territory for more than 50 years until it started to be applied to wrist watches, calculators and computers -- products that ushered in a new era of technology in the 20th century. Therefore, the German company based in Darmstadt, did the same with the organic light-emitting diode, known as a future technology for the 21st ce
May 23, 2017
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Anti-trust regulator probes Samsung C&T’s architect unit
South Korea’s anti-trust watchdog has begun probing an architect designing unit of Samsung C&T whether it was a “disguised affiliate” under Samsung Group before it was acquired in 2014, news reports said Tuesday. Samwoo Architects & Engineers, the nation’s largest architect design and urban planning service provider, has been providing architect services for decades for Samsung’s buildings since its foundation in 1976. Such buildings include Samsung Life Insurance headquarters in central Seoul,
May 23, 2017
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Posco’s high manganese steel recognized as global standard
The American Society for Testing and Materials International has listed Posco’s new high manganese steel as a world standard technology, according to the company’s press release Tuesday. ASTM International is a nonprofit standards development company that develops and publishes technical standards for materials, products, systems and services. A listing with the ASTM means that Posco’s creation of the world’s first-ever high manganese steel has been recognized as a material that can be utilized
May 23, 2017
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SK Innovation ad hits 5m views
A video that portrays SK Innovation’s business portfolio through marbling art on water hit 5 million views only 43 days after it was released on TV and online, the company said Tuesday.The petrochemical arm of SK Group, the nation’s third-largest conglomerate, produced the video in collaboration with Turkish artist Garip Ay, a master of ebru, or Turkish marbling. (SK Innovation)The video drew attention for its use of ebru and its storytelling methods that minimized the use of words, but deliver
May 23, 2017
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Namyangju crane accident death toll rises to three
Three people were killed and two others seriously injured after a crane gave way at a construction site in Namyangju, Gyeonggi Province, on Monday.According to police, five workers fell from a 55-meter-tall, 18-ton tower crane at the Dasan New City apartment complex construction site northeast of Seoul, at around 4:40 p.m. Two workers were pronounced dead at the scene, while three others were seriously wounded. A crane tower breaks at the Dasan New City apartment complex construction site in Na
May 23, 2017
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China imposes safeguard measures against imported sugar
China has announced a safeguard measure against imported sugar exceeding the quota for three years, a move that will hurt South Korean exporters, such as CJ Cheiljedang Corp., a leading food manufacturer, a trade promotion agency said Tuesday.According to the Korea Trade-Investment Promotion Agency, China's Ministry of Commerce launched a safeguard investigation last year into the sugar imports made between Jan. 1, 2011, and March 31, 2016, and their prices. (Yonhap)The ministry announced the s
May 23, 2017
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Doosan completes works on fuel cell plant
Doosan Corp., an affiliate of machinery and construction equipment conglomerate Doosan Group, said Tuesday that it has completed the construction of a fuel cell plant in the country.Doosan said it has spent a total of 40 billion won ($36 million) in building the plant in Iksan, some 250 kilometers south of Seoul, which will produce fuel cells worth 63 megawatts annually, the nation's largest capacity. The company already operates a fuel cell plant in the United States.Earlier, the group pledged
May 23, 2017
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Naver named as top-performing firm in Korea
Naver Corp. was picked as the top firm for its business performance among the country's major 500 companies, data showed Tuesday, beating Samsung Electronics Co.According to the data compiled by industry tracker CEO Score, South Korea's No. 1 Internet portal operator received top remarks in a business evaluation that centered on eight areas, including earnings, investment, job creation and transparency. (Yonhap)While Naver stood as the No. 1 company in terms of social contributions, it also rece
May 23, 2017