Most Popular
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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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Military aircraft evacuating S. Koreans in Lebanon returns home
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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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BTS-themed moon jar to be unveiled on Hangeul Day
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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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[Robert Fouser] Why the US election looks so close
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[Newsmaker] New duty-free operators mull delayed openings
Newly licensed duty-free operators in Korea have the option of delaying their opening dates in the face of uncertainty surrounding sales, according to the Korea Customs Service on Wednesday.“To increase the predictability of the duty-free market, the KCS will pursue the postponement of opening dates for new duty-free operators, extend deadlines for paying license fees and allow fees to be paid in installments,” the KCS said through a statement.The duty-free industry is reeling from falling sales
April 12, 2017
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Celltrion aims to commercialize Herzuma in Japan
Celltrion, a South Korean pharmaceutical company developing biosimilars, submitted a request to the Japanese Ministry of Health, Labor and Welfare for approval to sell Herzuma, the company spokesperson said Wednesday. (Park Hyun-koo/The Korea Herald)Herzuma, also known as CT-P6, references the blockbuster breast cancer drug Herceptin by Genentech, and is used for treatment of metastatic breast cancer and early stage breast cancer. Partnering with Japanese pharma firm Nippon Kayaku, Celltrion is
April 12, 2017
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Retail firms race to provide AI services
South Korean retail firms are competing to provide online platforms using the Artificial Intelligence (AI) and the Virtual Reality (VR) technologies to customers, industry sources said Wednesday.11st, a leading e-commerce site run by SK Planet Co., introduced "Baro" late last month, an online messaging tool in which a customer can ask the chatting robot questions to find the right item. Its chatbot, created using the deep-learning technology, responds to the enquiry and gives recommendations. (
April 12, 2017
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Johnnie Walker Black releases 200 mL bottle
Leading Scotch whisky brand Johnnie Walker said Wednesday that it had released a new 200-milliliter bottle for its Black Label line.The release follows the brand’s offering a small-bottle version of its Johnnie Walker Red line last October. The light package design aims to appeal to consumers who drink alone at home, according to the company. Models pose with the new 200-milliliter bottles of Johnnie Walker Black. (Diageo Korea)The bottle comes with lemon syrup and a recipe for the Johnnie Lemon
April 12, 2017
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Korea's ICT exports jump 15.8% in March
SEJONG -- South Korea's exports of information and communications technology products rose for the fifth straight month in March on rising global demand for semiconductors and displays, government data showed Wednesday.Outbound shipments of ICT products advanced 15.8 percent on-year to $16.5 billion last month, the third-largest monthly amount in history, according to the data compiled by the Ministry of Trade, Industry and Energy. (Yonhap)The country's exports have been on a rise since November
April 12, 2017
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Hwang pledges to remove regulations impeding bio industry's growth
Acting President and Prime Minister Hwang Kyo-ahn on Wednesday vowed to remove onerous regulations impeding the growth of the bio industry, reiterating the government's commitment to developing it into a future growth engine.During the opening ceremony of an international forum on the bio industry, Hwang also underscored that the country will capitalize on its cutting-edge medical technologies to help develop the world's health industry. Acting President and Prime Minister Hwang Kyo-ahn speaks d
April 12, 2017
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Cheese, butter consumption rises amid growing Western style eating habits: data
Consumption of cheese and butter has increased steadily in South Korea in recent years as a growing number of people consume Western food, data showed Wednesday.Consumption of cheese rose to 140,769 tons last year from 132,593 tons in 2015, 117,827 tons in 2014 and 107,558 in 2013, according to the Statistics Korea data.Butter consumption also surged to 11,583 tons last year, up from 10,206 tons in 2015 and 9,182 tons in 2014.(Yonhap)Most of the cheese and butter has been imported from abroad, w
April 12, 2017
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Bio firms gather in Seoul to exhibit latest trend
More than 650 bio companies from both home and abroad showcased their latest technologies and products at an international exhibition in Seoul on Wednesday.The 2017 Bio Korea International Convention kicked off at the Convention and Exhibition Center in southern Seoul for a three-day run. The annual event, the 12th of its kind, is hosted by the Ministry of Health and Welfare.The 2016 Bio Korea International Convention (Yonhap)The ministry said the goal of the event is to navigate the future of t
April 12, 2017
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Samsung to release Galaxy S8 in UAE this month
Samsung Electronics Co. said Wednesday it will release its new smartphone, the Galaxy S8, in the United Arab Emirates later this month, and gradually expand sales to other countries in the region.The South Korean tech giant said the Galaxy S8 and the Galaxy S8 Plus will be available for sales in the UAE starting April 28.Samsung Electronics Co.'s Galaxy S8 smartphone is displayed at a shop in Seoul on April 10, 2017. (Yonhap)Samsung earlier said it plans to commence global sales of the new flags
April 12, 2017
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Gov't earned W62.5tr thru gambling industry: data
The government earned 62.5 trillion won ($54.56 billion) from the gambling industry over the past 15 years, about half of it through taxes, data showed Wednesday.The Korea Taxpayers Association analyzed records from the National Gambling Control Commission and found that the government collected approximately 31.55 trillion won in taxes and made 30.95 trillion won in profit in the 2000-2015 period.(Yonhap)Horseracing brought in the biggest portion, 37.5 percent, followed by the lottery (25.4 per
April 12, 2017
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Google's app store posts W4.5tr sales in Korea in 2016
US tech giant Google Inc.'s smartphone app store, Google Play, posted 4.5 trillion won ($3.92 billion) in sales here last year, data showed Wednesday.The figure accounts for 58.2 percent of the country's overall mobile app market in 2016, which is estimated at 7.6 trillion won, the Korea Mobile Internet Business Association said.(Yonhap)As Google takes 30 percent of the sales as commission from app developers, industry watchers said the US giant is estimated to have raked in 1.3 trillion won fro
April 12, 2017
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KAL Hotel Network names new dual directors
KAL Hotel Network named Cho Hyun-min and David Pacey the new dual representative directors at a shareholders meeting Tuesday, according to Hanjin Group.The two directors will replace former representative director Kim Jae-ho, who resigned at the end of last year.David Pacey (left) and Cho Hyun-min (Hanjin Group)KAL Hotel Network, which runs the Grand Hyatt Incheon, Jeju KAL Hotel and Seogwipo KAL Hotel, is a subsidiary of Hanjin KAL, the holding company of Hanjin Group, which also runs Korean Ai
April 11, 2017
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Govt. to nurture manpower in bio industry
South Korea is set to release a set of support measures, including nurturing talented manpower, to help local pharmaceutical companies make further inroads into the global market, the country's health minister said Tuesday.The remarks were made during a meeting attended by Health Minister Chung Chin-yeob, and executives of major drug and medical companies. The meeting was held at the opening ceremony of biopharmaceutical firm Celltrion Inc.'s new plant.(Yonhap)"The government will strengthen coo
April 11, 2017
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‘Lotte Chemical likely to report record-high profit in Q1’
Lotte Chemical Corp., a petrochemical unit under South Korea’s fifth-largest conglomerate, may report record-high profit in the first quarter, driven by the anticipated listing of Lotte Chemical Titan Holding in Kuala Lumpur, Malaysia, and the price hike of chemical products, an analyst said Tuesday.The Seoul-traded firm is projected to record 853.7 billion won ($746.34 million) in operating profit, the highest quarterly figure recorded for Lotte Chemical, according to a report by Lee Eung-joo,
April 11, 2017
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Average of 10 bars shut down daily
An average of nearly 10 bars closed per day last year, reflecting an industrywide downturn, the National Tax Service said Tuesday.As of January, 3,600 bars shut down their operations over the last year. South Korea had 55,761 bars registered as of the end of that month, a 6.1 percent decrease from 59,361 a year earlier, the tax agency said. (Yonhap)The number of bars had surpassed 60,000 in December 2015, but that figure has continued to decline since.Of the 17 cities and provinces, Ulsan showe
April 11, 2017
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Johnson & Johnson Innovation eyes Korean tie-ups
The chief of Johnson & Johnson Innovation, the strategic venture arm of the US health care giant leading the firm’s open innovation push, is to hold preliminary meetings with a number of South Korean biotech and medical tech firms this week.Robert Urban, the global head of Johnson & Johnson Innovation, told The Korea Herald Tuesday that his team would discuss Korea’s health care ecosystem and J&J’s innovation platform with four to five local biopharmaceutical companies and investor groups over t
April 11, 2017
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Golden Blue scoops up awards at Monde Selection
Korean whiskey brand Golden Blue said Tuesday that all of its entries to the 2017 Monde Selection were given quality awards for the third consecutive year.The Monde Selection is an annual quality evaluation event that takes place in Brussels, Belgium. For the spirits and liquor selection, a jury of 100 spirits specialists evaluates products over five months and doles out quality awards to outstanding products.This year, the Golden Blue Diamond and Golden Blue Sappirus were awarded the Gold Quali
April 11, 2017
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Lotte names former Constitutional Court justice as compliance chief
Lotte Group said Tuesday that it has named former Constitutional Court Justice Min Hyeong-ki to head its newly created compliance committee. Min Hyeong-ki, the head of Lotte Group’s compliance committee (Lotte Group)Min graduated from Seoul National University’s College of Law and began his career as a judge in 1976. He served as a justice of the Korean Constitutional Court from 2006 to 2012.Min’s appointment completes the reorganization of Lotte Group in accordance with Chairman Shin Dong-bin’s
April 11, 2017
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Food delivery apps expanding rapidly in Korea
Food delivery mobile applications are growing rapidly in South Korea, driven by burgeoning demand amid the spread of the lone-eating trend and a rising number of single households, industry sources said Tuesday. Baedal Minjok, a leading mobile delivery app run by local startup Woowa Brothers, raked in 84.8 billion won ($74.8 million) in revenue last year, up 71 percent from a year earlier, according to data by the Financial Supervisory Service.(Yonhap)The company made a turnaround with some 2.5
April 11, 2017
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E-Land in talks with MBK Partners to sell restaurants
E-Land is in talks with private equity firm MBK Partners to sell its restaurant chains as part of its financial restructuring plans, industry sources said Tuesday.The potential deal includes E-Land’s 18 restaurant chains including casual dining buffet Ashley, sushi buffet Soosa and Nature Kitchen. (Yonhap)The chains are run by E-Land Group’s leisure arm E-Land Park and are estimated to have brought in about 700 billion won ($610 million) in revenue last year. According to reports, the deal is i
April 11, 2017