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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Military aircraft evacuating S. Koreans in Lebanon returns home
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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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Market uncertain on Korea's October rate cut despite slowed inflation
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Samsung unveils 'personalized AI' for all devices
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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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Special counsel bill to probe first lady scrapped
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Samsung Bioepis-AbbVie Humira patent trial in UK to start Monday
The UK High Court of Justice will commence Monday its trial on Samsung Bioepis and Biogen’s lawsuit against AbbVie and its patents for its top-selling rheumatoid arthritis drug Humira, according to official court documents obtained by The Korea Herald. Japanese drugmaker Fujifilm Kyowa Kirin Biologics (FKB) will also be taking on AbbVie in the same trial, as a claimant siding with Samsung Bioepis and Biogen. According to a ruling by Justice Henry Carr last month, which was made available on the
Jan. 15, 2017
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Korea’s R&D workforce at carmakers falls far behind Germany
The number of research and development workers at South Korean carmakers fell far behind that of Germany last year, industry data showed Saturday, casting doubts on the sustainability of the local car industry.The number of workers engaged in the R&D sector at automakers hovered below 20,000 in South Korea last year, accounting for only one fifth of the number of their counterparts in Germany, showed data from the Korea Institute for Industrial Economics & Trade. R&D workers at Germany’s carmake
Jan. 14, 2017
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Yuhan-Kimberly wet wipes recalled for excessive methanol
The South Korean Ministry of Food and Drug Safety said Friday that it will recall 10 wet wipe products manufactured by Yuhan-Kimberly, as they contain excessive methanol. “We have confirmed that some of Yuhan-Kimberly’s wet wipes were unintentionally manufactured to contain between 0.003 to 0.004 percent methanol, which exceeds the permitted 0.002 percent,” the ministry said.“As a result, we are ordering a sales freeze and recall of 10 of Yuhan-Kimberly’s wet wipe products.”Of the 10 affected pr
Jan. 13, 2017
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Small beauty brands lead change in cosmetics market: report
Small but customized cosmetics brands are gaining competitiveness against bigger multinational brands, changing competition trends in the global cosmetics market, a report said Friday. According to a report by LG Economic Research Institute, small cosmetics brands with unique concepts and customized solutions for particular segments of customers are gaining popularity globally as they spread across online platforms. “Digitalization and customization are major factors that are leading the cosmeti
Jan. 13, 2017
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Hyundai Motor Group seeks to freeze salary of senior office workers
Hyundai Motor Group, South Korea's largest automotive group, plans to freeze the wages of its officials in managerial posts, company officials said Friday.The wage freeze, if taken, will be the first of its kind since 2009."The company is already taking emergency measures to overcome many difficulties, such as an economic downturn, slowing sales and a drop in operating profit, while company executives have voluntarily cut their own wages by 10 percent," the group said in a recent e-mail sent to
Jan. 13, 2017
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Preferred bidder for Kumho Tire to be announced early next week
Park Sam-koo, chairman of Kumho Asiana Group. (Yonhap)The creditors of Kumho Tire, South Korea’s second-largest tire firm, announced Friday they will hold off making a decision on a preferred bidder for the tire maker until early next week. Nine creditors including Korea Development Bank, Woori Bank and Kookmin Bank were scheduled to announce a preferential bidder by Friday afternoon.However, deal adviser Credit Suisse requested more time to review nonprofit aspects of the bidders, such as futur
Jan. 13, 2017
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Court metes out five-year jail sentence to former cosmetics firm chief in lobbying case
A Seoul court on Friday meted out a five-year jail sentence to a former chief of local cosmetics brand Nature Republic who has been at the center of a high-profile lobbying scandal that rocked the country's legal circles.The Seoul Central District Court found Jung Woon-ho guilty of bribery. The court also sentenced Kim Soo-chun, a former senior judge, to seven years in jail for taking hundreds of millions of won in kickbacks from Jung.Jung, 52, has been accused of bribing judges and lawyers in r
Jan. 13, 2017
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Snags emerge in Samsung's businesses as Lee quizzed in corruption scandal
Samsung Group, South Korea's biggest business conglomerate, is bracing for a possible leadership vacuum as the group's de facto chief, Lee Jae-yong, was questioned as a suspect in the corruption scandal that led to the impeachment of President Park Geun-hye. Lee Jae-yong, vice chairman of Samsung Electronics Co., leaves the special prosecutor's office in Seoul on Jan. 13, 2017, after 22 hours of questioning over allegations Samsung Group offered financial aid to President Park Geun-hye's longtim
Jan. 13, 2017
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Audi Volkswagen to launch first new car since scandal in Korea
Audi Volkswagen Korea, the local importer and distributor of the German brands, is moving to introduce a new car in South Korea that will mark the first car to be launched here since its emissions scandal that has led to a sales ban on most of its vehicle models, informed sources said Friday.According to the sources, the company recently had its 2017 model year A7 55 TDI Quattro certified by the environment ministry for emissions and noise levels, and is now in the process of having the car regi
Jan. 13, 2017
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Mando files countersuit against Bosch over alleged patent infringement
Mando Corp., a South Korean auto parts maker, has filed a countersuit against Robert Bosch GmbH in the United States over alleged infringement of two of its auto-parts patents, an industry source said Friday. The German auto parts supplier had sued Mando four months earlier for alleged breach of four of Bosch's patents related to auto components. The suit was filed at the US District Court for the Eastern District of Michigan. Mando's plant in Poland. (Mando)In a written response sent to the US
Jan. 13, 2017
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Whisky companies violating tag law to boost sales
Leading whisky brands in South Korea are resorting to law violations to push up sales for the Lunar New Year holiday and make up for the slumping market, industry officials said Friday.Liquor companies market specially packaged gift sets for the holiday when tens of millions of South Koreans travel to their hometowns with presents for family and kin. A whisky gift set commonly consists of a 700 milliliter bottle with an extra miniature 50 ml bottle, both of which must have electronic tags, known
Jan. 13, 2017
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Samsung Group left unsettled
Nearly all of Samsung Group was placed on full alert Thursday, as de facto leader Lee Jae-yong walked into the office of the special counsel on the presidential scandal in the morning as a suspect facing possible charges of bribery. (Chung Hee-cho/ The Korea Herald)Since the second half of last year, the nation’s largest conglomerate had kept its profile low, delaying major executive-level reshuffles and withholding celebrations despite Samsung Electronics’ estimated 50 percent jump in earnings
Jan. 12, 2017
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LG Hausys targets imitation marble market in North America
LG Hausys disclosed new products made from engineered stone and imitation marble at the “KBIS 2017,” North America’s largest kitchen and bath industry show. (Yonhap)Engineered stone is a premium product that resembles natural marble on the outside, and is highly fouling resistant. Its demand is continuously increasing, particularly in North America and Europe. LG Hausys has completed the expansion of its product line in its factory in Georgia last year.The company’s exhibition hall displayed liv
Jan. 12, 2017
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Samsung heir questioned over Park scandal
Samsung heir apparent Lee Jae-yong was questioned by special investigators as a bribery suspect Thursday, putting not only himself, but also the tech giant deeper into the quagmire that centers on the corruption charges of President Park Geun-hye and her longtime friend Choi Soon-sil.Surrounded by the press and hundreds of protestors, the vice chairman of Samsung Electronics, the world’s largest smartphone and chipmaker, entered the special investigation team’s office in southern Seoul at 9:30 a
Jan. 12, 2017
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Acting president vows expanded support for SMEs
Acting President and Prime Minister Hwang Kyo-ahn on Thursday vowed to expand policy support for small and medium-sized enterprises, stressing their role in creating jobs and revitalizing the economy.During the New Year's greeting session with local SME leaders, Hwang also said that his government will strive harder to promote the globalization of SMEs as part of efforts to shore up flagging exports. (123rf)"SMEs are the root of our economy. They are locomotives for another leap forward and the
Jan. 12, 2017
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Air Seoul launches in-flight magazine ‘Your Seoul’
The cover of “Your Seoul” (Air Seoul)Local low-cost carrier Air Seoul said Thursday that it launched an in-flight magazine called “Your Seoul” to promote the tourism attractions of Korea‘s capital.The magazine is part of the airline’s cooperative efforts with Seoul to help increase the brand power of the city.“Your Seoul” includes information on Air Seoul‘s various destinations in addition to Seoul. The first 64-page volume includes recommendations of relatively unknown destinations in Seoul fro
Jan. 12, 2017
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Korea approves Volkswagen's recall plan on faked emissions vehicles
The South Korean government said Thursday it has approved German carmaker Volkswagen's recall measures for its sports utility vehicles that were found to have been sold in the country using fake emissions-related documentation. The Ministry of Environment said the recall plan for 27,000 Tiguans submitted by the auto giant met the standards in terms of emissions and fuel efficiency.After the carmaker's emissions scandal broke out in the United States in September 2015, the Seoul government launch
Jan. 12, 2017
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Sales of OEM cars plunge 13.2% on-year in 2016
Sales of vehicles produced overseas and sold here by local manufacturers shrank greatly from a year earlier last year, data showed Thursday, apparently due to advances by local competitors.In 2016, sales of the so-called OEM cars came to 27,348, down 13.2 percent from 31,520 cars sold the previous year, according to the data from the Korea Automobile Manufacturers Association. The QM3 small SUV by Renault Samsung Motors Co., the South Korean unit of French automaker Renault S.A. (Renault Samsung
Jan. 12, 2017
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Korea's top 3 shipbuilders to cut over 4,000 jobs this year
The brutal job-cutting in South Korea's shipbuilding industry is expected to continue into this year, with the nation's three largest shipbuilders expected to slash more than 4,000 jobs, according to industry sources Thursday. South Korean shipbuilders have been under serious financial strain since the 2008 global economic crisis amid falling oil prices, which sent new orders tumbling amid a glut of vessels and stiffer competition from Chinese rivals.Daewoo Shipbuilding & Marine Engineering Co.,
Jan. 12, 2017
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Naver's ad revenue neared W3tr in 2016
South Korea's largest Internet portal Naver Corp. is forecast to have raked in nearly 3 trillion won ($2.53 billion) in revenue generated from advertisements last year, industry sources said Thursday.Naver is estimated to have logged 2.95 trillion won in sales from the advertisement sector in 2016, nearly a 30-percent jump from 2.32 trillion won posted in 2015, they said.The 2016 revenue is almost twice the combined revenue of some 3,700 newspapers across the country, they said.The combined ad r
Jan. 12, 2017