Most Popular
-
1
Military aircraft evacuating S. Koreans in Lebanon returns home
-
2
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
3
Yoon set for talks with Marcos in Philippines
-
4
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
5
Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
-
6
2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
-
7
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
8
Can Jennie break the K-pop solo artist slump?
-
9
Firefighters’ 3,000 won meals spark nutrition concerns
-
10
From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
-
Samsung shows growing appetite for start-up M&As
[THE INVESTOR] Samsung Electronics has been actively seeking merger and acquisition deals of start-ups in the past couple of years.The list of its takeovers showed that the world’s largest electronics manufacturer has been focused on making a move into the software and cloud sectors and beefing up its presence in the business-to-business segment. Since 2014, the Korean tech giant acquired nine companies, including video app services developer firm SELBY in May 2014, SmartThings in Aug. 2014, pri
June 17, 2016
-
Naver, Kakao to gain ground in Q2 earnings: report
Naver Corp., South Korea's top Internet portal operator, and Kakao Corp., the operator of the country's top mobile messenger KakaoTalk, are forecast to see their earnings improve in the second quarter of the year, a report showed Friday.The operating profit of Naver is likely to soar by 58.7 percent on-year to reach 265.2 billion won ($226.8 million) in the April-June period, according to the report by online financial information provider Fn Guide.Sales are also forecast to gain 25.4 percent on
June 17, 2016
-
Korea Development Bank may face parliamentary hearing
[THE INVESTOR] The Korea Development Bank is facing increasing heat over its part in the Daewoo Shipbuilding and Marine Engineering crisis. Following the damning reports from the Board of Audit and Inspection, the KDB has come under fire for allowing the shipbuilder to reach critical conditions unchecked. As more of its malpractice comes to light, the possibility of a parliamentary hearing on the state-run policy bank has surfaced. On June 17, Rep. Kim Jong-in, the interim leader of the main opp
June 17, 2016
-
Time for corporate Korea to consider more English use
Consider a hypothetical situation for LG Electronics Co. in which the South Korean tech company's bold move to embrace English as an in-house language were successful about a decade ago.Armed with its employees' global mindset and fresh corporate culture, LG overpowers Samsung Electronics Co. both at home and abroad and becomes a formidable archrival of Apple Inc. in the smartphone world.In reality, however, the "Global LG" dream evaporated in 2010 with the disgraceful resignation of then-Vice C
June 17, 2016
-
Hyundai Motor, HHI unions warn of ‘all-out July strike’
[THE INVESTOR] Concerns are growing about widespread strikes in July as major labor unions are forming alliances to take industrial action. On June 16, the unions of Hyundai Motor and Hyundai Heavy Industries said that they would work together for an “all out strike” in July. The unions of both Hyundai affiliates warned of a strike should this year’s wage negotiations spill over into July. “Walkouts will be conducted alongside the negotiations this year, together with the 150,000 members of the
June 17, 2016
-
Hyundai Steel output to be normalized by July
[THE INVESTOR] Hyundai Steel Co.’s production capacity will be normalized by early July, the company said on June 17.The production capacity of the company’s mill in Dangjin, South Chungcheong Province, had been affected with one of its three furnaces experiencing problems since May 12. The furnace, the first of the three to go on line in January 2010, had experienced trouble in maintaining temperature, reducing its daily out to about 3,000 metric tons. Before the fault developed, its daily outp
June 17, 2016
-
Labor dispute adds to Hyundai Heavy’s troubles
[THE INVESTOR] Ailing Hyundai Heavy Industries Co. faces tough challenges ahead with the union likely to resort to “powerful” strikes.On June 17, the union announced that industrial dispute has occurred, opening the way for industrial action in negotiating with the management. Although the union has cited slow progress in the negotiations, pundits say that the move is likely to be aimed at meeting the legal requirements for industrial action before the restructuring measures are executed. Hyunda
June 17, 2016
-
Hyundai E&C scraps US$720m East Timor project
[THE INVESTOR] Hyundai Engineering & Construction Co. disclosed on June 16 that it has pulled out of the US$720 million project in East Timor. In a regulatory filing, the builder said that the decision was made due to delays in the project receiving approval from East Timor courts. The company had won the project last year in collaboration with Hyundai Engineering Co. The contract was for building a seawall and supply facilities to be used for oil development efforts off the southern coast town
June 17, 2016
-
[Graphic News] Top 3 shipbuilders to cut 6,000 jobs this year
Korea’s top three shipbuilders will cut 6,000 jobs this year to survive the decline in global orders and economic slowdown, according to their self-rescue plans released this week.Hyundai Heavy Industries, the world’s largest shipbuilder, plans to lay off a total of 4,000 workers this year. The company will cut 2,000 workers through voluntary resignations and 1,000 workers through retirement, under the age limit. The company will also relocate 994 employees.Daewoo Shipbuilding & Marine Engineeri
June 16, 2016
-
Korea's shipbuilding industry likely to remain sluggish in H2
South Korea's shipbuilding industry is likely to remain sluggish while auto, electronics and steel industries are unlikely to make a recovery in the second half of this year, experts said Thursday.They said local shipbuilders are likely to suffer a lack of fresh orders, a move that could put further strain on embattled shipyards.They made the predictions on the country's major industries in a seminar organized by the Federation of Korean Industries that speaks for the country's large businesses.
June 16, 2016
-
[Super Rich] Nature Republic stingy about sharing success with employees
[THE INVESTOR] Despite Korean cosmetics brand Nature Republic seeing overwhelming success, with revenue increasing sixfold in six years, the 7-year-old company has been stingy in sharing wealth with its employees.The unlisted company’s business profits increased by 20 billion won ($17.2 million) between 2010 and 2016, which resulted in the value of Nature Republic CEO Jung Woon-ho’s 73.8 percent hold of company shares surging to 73.2 billion won. Nature Republic CEO Jung Woon-hoHowever, instead
June 16, 2016
-
[Super Rich] Shinsegae to tap overseas liquor market
The recent takeover bid by Korean retail giant Shinsegae Group for “Jeju Soju” last week proves the passion of the group’s vice chairman Chung Yong-jin for the liquor business again.Chung, who is known to be a wine enthusiast, has expanded the company’s business in this area for the past few years by entering into the wine import and distribution business, and by opening the craft beer-centric bar Devil’s Door in Seocho-dong, an affluent part of southern Seoul. Shinsegae Group vice chairman Ch
June 16, 2016
-
Celltrion applies for clinical trials for Remsima SC
[THE INVESTOR] Celltrion Inc. announced on June 16 that it has applied for a permit to carry out human clinical tests for Remsima SC.Celltrion is an Incheon-based biotechnology firm headed by Seo Jung-jin. Remsima SC is a new line of the autoimmune disease treatment Remsima. Unlike Remsima that requires intravenous injection, Remsima SC can be administered by the patient through subcutaneous injection, the company said. Remsima is a biosimilar based on Remicade developed by Jansen Global Service
June 16, 2016
-
Banks to benefit from LCR rules: experts
[THE INVESTOR] The latest financial regulations released by the government in efforts to secure foreign currency stability met with mostly positive responses from industry watchers.Regarding one of the key features requiring banks to raise their foreign exchange liquidity coverage ratio for banks, experts said the move would eventually lead to reinforcing the health of the banking sector. As a part of the stability plans, financial regulators said local banks will be required to raise their FX L
June 16, 2016
-
Lotte Japan likely to face probe
South Korean prosecutors may seek a joint probe with investigators in Japan to expand its investigation into Lotte’s alleged creation of slush funds and embezzlement, according to reports Thursday quoting officials with the prosecution.Lotte’s subsidiaries in Japan are running relatively smaller businesses than the group’s operations in Korea. But when looking at its corporate governance structure, most of Lotte’s affiliates in Korea are being controlled by Tokyo-based Lotte Holdings, raising su
June 16, 2016
-
Lotte Confectionery to enter Africa’s snack market
South Korea’s leading snack maker Lotte Confectionery on Thursday said it will start operations in Africa from next week, becoming the first homegrown food company to enter the 12 trillion won ($10.2 billion) African market. Lotte Confectionery has set up its first office in Nairobi, Kenya and will officially begin operations starting from next Monday. The new office was established by Lotte India Corp., the company said.“Lotte Confectionery’s newly formed Kenya office marks a milestone in setti
June 16, 2016
-
Hyundai Glovis pressured to use U.S.- registered vessels
The U.S. government has repeatedly called on Korean logistics company Hyundai Glovis to use ships registered in the U.S. when the company exports cars to the U.S., according to Seoul officials and company sources Thursday. The Washington government’s continued push is seen by industry watchers as trade pressure on Korea in its attempt to offset trade deficits widening after the bilateral free trade agreement that took effect in 2012. (Bloomberg)U.S. government officials including Maritime Admini
June 16, 2016
-
[Exclusive] Lotte drops bid for Duty Free Americas amid widening probe
Lotte Group has given up its plans to acquire Duty Free Americas Inc., the largest duty-free operator in the U.S., amid the widening probe that had earlier forced the South Korean retail giant to withdraw plans to list its hotel unit, The Korea Herald found Thursday.“The group has effectively given up on the potential acquisition of a U.S. duty-free operator worth 1.7 trillion won ($1.5 billion), now that the initial public offering of its hotel unit has been indefinitely delayed due to the ongo
June 16, 2016
-
SK Planet named e-commerce company of the year
SK Planet has been named the Telecom eCommerce Service Provider of the Year for its mobile marketing brand Syrup, the company said Thursday.The award was presented to the firm at the 2016 Asia Pacific ICT Awards in Singapore on Wednesday. It was hosted by the consulting firm Frost & Sullivan and this was the 13th year of the awards.SK Planet vice president Park Jung-min (right) receives the Telecom eCommerce Service Provider of the Year award at the 2016 Asia Pacific ICT Awards in Singapore on W
June 16, 2016
-
Korea's online shopping sales surge 16-fold over past 15 yrs
Sales in the online shopping business in South Korea have expanded more than 16-fold over the past 15 years on the back of the rapid development of e-commerce transactions, government data showed Thursday.A total of 53.9 trillion won ($46.1 billion) worth of purchases were made online last year, compared with 3.3 trillion won tallied in 2001, with an average 22 percent on-year growth every year, according to the data compiled by Statistics Korea.Mobile shopping totaled 24.5 trillion won in 2015,
June 16, 2016