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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Korea on alert for ransomware attack, some damage reported
Korea remains on alert for the ransomware attack called WannaCry that has hit more than 230,000 computers in 150 countries since Friday. As of Monday evening, a total of eight companies, including Korea’s top theater chain, and thousands of Internet Protocol addresses were reported to have been infected. No government organizations were found to have been hit by the attack yet.“The figure (for the infections) is expected to rise as the week begins. We need thorough measures to prevent further da
May 15, 2017
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Incheon Airport launches jobs task force
South Korea’s President Moon Jae-in takes a picture with employees at Incheon Airport on Friday. The visit to the airport was his first official event outside of the presidential office. Incheon International Airport Corp.Incheon International Airport became the first public corporation to join South Korea’s newly elected President Moon Jae-in in creating quality jobs by launching a task force, the company said Monday.On the back of the president’s visit to the airport last week, the airport’s C
May 15, 2017
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Shinsegae indefinitely delays plan on Bucheon department store
Retail giant Shinsegae has decided to indefinitely delay its planned project to build a department store in Bucheon, adjacent to Seoul, according to the company Monday.The company was chosen in September 2015 by the city to build a shopping mall in a new cultural complex. However, the project faced fierce opposition from vendors in the area, who feared the new mall would take away from their business. (Yonhap)“After negotiating with the city of Bucheon, we had decided to change our original plan
May 15, 2017
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Posco execs donate indoor playground for children
The Posco 1% Sharing Foundation donated a welfare facility for children called Donggurang Steel Land to the Incheon Dong-gu Office on Monday.An indoor playground for children with a mini soccer field, artificial rock climbing wall, smart gym board and other play facilities, Donggurang Steel Land is to help children develop their five senses and provide them with a safe environment to play in, the company said. The interior of Posco 1% Sharing Foundation’s Donggurang Steel Land. (Posco)The buildi
May 15, 2017
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Korean startups to participate in European tech festival
South Korea's promising startups will showcase their technological prowess at a European technology and startup festival in Amsterdam, the Netherlands, later this week, Seoul's ICT ministry said Monday.The Next Web Conference Europe 2017 -- an annual festival that brings together international technology executives, investors and promising startups -- will kick off Thursday for a two-day run. (Ministry of Science, ICT and Future Planning)The conference, the 12th of its kind, has grown from a 200
May 15, 2017
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Police raid Samsung Heavy again over deadly crane accident
Police on Monday raided five offices of Samsung Heavy Industries Co. for a second time over a deadly crane accident that occurred at one of its shipyards earlier this month.On May 1, two cranes collided at the shipyard in the southeastern port city of Geoje, causing a structure to fall from one of the cranes. Six workers at the site were killed and another 25 were injured. This photo taken on May 4, 2017, shows the site where the deadly crane accident took place at Samsung Heavy Industries Co.'
May 15, 2017
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Hyundai Merchant's Q1 operating loss narrows
Hyundai Merchant Marine Co., a major shipping firm here, said Monday that its operating loss narrowed in the first quarter from the previous quarter.The operating loss came to 131 billion won ($117 million) in the January-March period, compared to an operating loss of 163 billion won the year earlier, the company said in a regulatory filing.Sales rose 7 percent on-year to 1.3 trillion won over the cited period, it said.(Yonhap)Hyundai Merchant handled 958,000 twenty-foot equivalent (TEU) contain
May 15, 2017
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Ransomware strikes Korean theater
The notorious WannaCry ransomware, which has recently haunted computers around the globe, struck a local movie chain, industry watchers said Monday, causing alarm among South Korean companies.Ransomware refers to malware that infects files in a computer until victims pay a certain amount of money to hackers. The latest ransomware, called WannaCry, first surfaced last week, damaging some 200,000 computers in 150 countries around the globe.This is a CJ CGV screen in Seoul that has been crippled by
May 15, 2017
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[Moon in Office] M&As to be encouraged to boost startups
The Korea Herald is publishing a series of articles delving into the economic policies and tasks expected of the new Moon Jae-in administration. This is the fourth installment -- Ed.President Moon Jae-in is expected to encourage mergers and acquisitions, deregulate Internet of Things-related laws and abolish joint surety to boost startups.There has been consensus among experts here that more decent jobs should be created from startups and small and medium-sized businesses to reduce excessive dep
May 14, 2017
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Accumulated sales of Kia's K-series breaks 5 million
South Korea’s No. 2 automobile manufacturer Kia Motors’ combined sales of its K-series surpassed 5 million units, the company said Sunday.The accumulated overseas sales of the series reached 4.1 million, while domestic sales marked some 920,000 units, as of April this year, it said.Of the total 4.1 million overseas sales, 1.28 million units were manufactured in South Korea. The K-series has accounted for more than 30 percent of Kia Motor‘s total sales each year since 2009, when the K-series was
May 14, 2017
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Plug-in hybrids sales yet to pick up in Korea
Sales of plug-in hybrid vehicles have yet to pick up in South Korea, mostly due to high prices and lack of consumer recognition, industry officials said Sunday.Hyundai Motor sold 37 units of its Ioniq plug-ins in April, the best monthly sales since the model's launch in February but still in the low double digits. Its competitor Prius Prime from Toyota Korea, launched last month, sold 17 units.BMW Korea's sole PHEV model i8 sold 14 so far this year. (Yonhap)In yearly terms, Hyundai sold 117 of i
May 14, 2017
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Korea holds forum on content industry
Government officials and experts gathered at a forum to seek ways to expand exports of local digital content, the ICT ministry said Sunday. The forum, hosted by the Ministry of Science, ICT and Future Planning, was held in Seoul on Friday with participants from the government, academia and the content industry. (Yonhap)The participants gathered to discuss ways to bolster overseas demand for homegrown digital content in the face of changes brought on by the fourth industrial revolution, the scien
May 14, 2017
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Major refiners bask in decent Q1 profit, set to see another upbeat result
South Korean oil refiners, led by top player SK Innovation Co., logged decent earnings in the first quarter of the year on the back of robust petrochemical business, and expect their bottom line to remain firm under the current quarter thanks to the recovery of their refining margin, industry sources said Sunday.SK Innovation posted a net profit of 859 billion won ($757 million) in the first quarter, sharply up from 566 billion won profit a year earlier, thanks to better-than-expected results fr
May 14, 2017
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Daewoong Pharma: ‘fake copies of Nabota were not sold in Korea’
South Korea’s Daewoong Pharmaceutical on Friday said that no fake copies of its botulinum toxin Nabota were circulated in South Korea, addressing public fears that the inauthentic drugs may have been sold and administered to local patients.The company’s investigation came after the local police caught two groups of vendors developing and selling fake copies of Nabota in China. The news prompted Korea’s Ministry of Food and Drug Safety to issue a warning last week to local hospitals to beware of
May 12, 2017
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Samsung Electronics opens new department focusing on foundry biz
Samsung Electronics Co. on Friday opened a new department under its chip division focusing on the foundry business, in line with the company's efforts to expand its market presence in the area.The foundry business refers to making chip designs for other companies that do not have a semiconductor fabrication plant.Under the restructuring, Samsung now holds three major pillars in its semiconductor business, namely memory, system LSI and foundry. (Yonhap)The latest announcement is seen as a follow
May 12, 2017
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Cargill eyes W1.5tr revenue by 2025 in Korea
US commodity trading company Cargill Inc. said Friday it has set an annual revenue target of 1.5 trillion won ($1.33 billion) for its livestock feed business in South Korea by 2025, vowing to push for an aggressive expansion down the road. David MacLennan, CEO of the global agricultural commodity firm, said the company plans to increase its annual feed production to 2.7 million tons from the current 1.6 million tons over the next eight years to meet the revenue target for the Korean market. Dav
May 12, 2017
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‘Fine dust’ cosmetics may be false advertising
Cosmetics that claim to protect the skin against damage caused by fine dust have been asked to provide evidence.According to the Ministry of Food and Drug Safety on Friday, the agency is requesting that companies provide proof of cosmetics‘ ability to shield the skin against, or wash away, fine dust. Fine dust blankets Seoul on Friday. (Yonhap)“The measure is designed to prevent misleading labeling or advertising by requiring companies to substantiate their claims,” a ministry official said.If
May 12, 2017
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Philip Morris may launch smokeless cigarette soon
Philip Morris International is expected to announce the launch of its heated smokeless cigarette IQOS in Korea next week, according to industry sources.IQOS, which has already seen huge success in other markets including neighboring Japan, heats tobacco using a special device instead of burning tobacco, as in traditional cigarettes. IQOS (Philip Morris International)The Korean launch of IQOS is expected to be officially announced through a press conference scheduled for May 17 with PMI Korea’s
May 12, 2017
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Hyundai Wia to produce in-house turbo chargers
Hyundai Wia Corp., an auto parts affiliate of Hyundai Motor Group, said Friday it will produce in-house turbo chargers after years of joint production with its Japanese partner. Hyundai Wia IHI Turbo, a 51-49 joint venture set up between Hyundai Wia and Japanese auto parts maker IHI, has produced turbo chargers since late 2015 for vehicles made by Hyundai Motor Co. and Kia Motors Corp. at its plant in Seosan, 151 kilometers southwest of Seoul, a Hyundai Wia spokesman said. Hyundai Wia's turbo c
May 12, 2017
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Samsung Electronics promotes 42 executives at chip biz amid chief's absence
South Korean tech giant Samsung Electronics Co. said Friday that it has promoted 42 employees to senior management posts at its chipmaking business as part of its latest regular personnel appointment, five months later than usually, as its vice chairman has been arrested for alleged graft charges.On Thursday, the world's largest manufacturer of smartphones also carried out a partial personnel appointment, which affected 54 executive level posts at its consumer electronics and smartphone business
May 12, 2017