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
Can Jennie break the K-pop solo artist slump?
-
7
2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
-
8
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
9
Firefighters’ 3,000 won meals spark nutrition concerns
-
10
From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
-
[Photo News] Drink responsibly
University students take part in Diageo Korea’s “Cool Drinker Campus Campaign” at Konkuk University in Seoul on Wednesday. The responsible drinking campaign will take place on 20 campuses throughout the university festival season to encourage students to develop responsible drinking habits. The campaign has been held every year since 2007. (Diageo)
May 11, 2016
-
Korean industries lag behind in dynamism: expert
Korean industries have failed to pursue dynamic changes in terms of bring in new companies and kicking out uncompetitive ones for the past 15 years, an expert on South Korean companies said Tuesday.Park Ju-gun, president of CEO Score, which analyzes data about the top 500 local companies and chief executives, said only 122 new companies, or 20 percent, joined the top 500 firms in Korea from 2000-2015, while 31 percent joined the top 500 ones in the U.S. in the same period.“Analyzing data both in
May 11, 2016
-
Tobacco leaf farmers oppose foreign tobacco brands in military
Tobacco leaf farmers in Korea are railing against the introduction of foreign cigarette brands into stores on military bases, raising concerns that their entry would curb the sales of Korean-grown tobacco leaves.Last month, the Defense Ministry announced that two foreign cigarette brands would be sold on military bases here for the first time, breaking KT&G’s monopoly in the military market. The chosen brands were Marlboro Gold Original and Mevius LSS Wind Blue.The growers’ concern is that growi
May 11, 2016
-
[Photo News] International air conference
Transport Minister Kang Ho-in speaks at the opening ceremony for the ICAO Aviation Training and TRAINAIR PLUS Global Symposium and fifth Conference on International Air Transport Cooperation. The international conference takes place from Wednesday to Friday at the Conrad Hotel in Seoul. (Transport Ministry)
May 11, 2016
-
Korean spandex company to build plant in Iran
TK Chemical, the spandex-making affiliate of Korea's shipping-to-construction company SM Group, said on Wednesday it will build a spandex plant in Iran to gain a bigger share there and expand across other Middle Eastern markets.TK Chemical, which already has an operation in Iran, now sees bigger opportunities as the U.N. nuclear agency lifted the years-long economic sanctions against Iran earlier this year, paving the way for multinational firms to rebuild their businesses there. The country's b
May 11, 2016
-
KOBACO strikes deal with Showbox for joint production of films, videos
A state-run broadcasting ad agency said Wednesday it has signed a deal with a local film studio and distributor to invest 30 billion won ($25.7 million) in financing for the studio's new films and videos for the next four years.Under the deal with Showbox, behind such recent Korean box-office smashes as "The Thieves" and "The Throne," the Korea Broadcast Advertising Corp. will jointly produce Korean films and video content for various platforms to be distributed by the business partner.The two s
May 11, 2016
-
[Photo News] LIG Nex1’S R&D center
Aerospace manufacturer and defense company LIG Nex1 held the groundbreaking ceremony for its Daejeon House at the research and development district of Daedeok Innopolis in Daejeon on Tuesday. LIG Nex1 vice chairman Lee Hyo-koo (tenth from left), politician Lee Sang-min (ninth from left), Korea Defense Industry Association vice chairman Kim Young-hoo (seventh from left), and others attended the ceremony. Estimated to be completed in 2017, the Daejeon House will be a research center for missile an
May 11, 2016
-
Pharmaceutical, bio firms aggressive in clinical tests
Korean pharmaceutical and biotechnology companies are rushing to conduct initial clinical trials for the drugs they have developed as they seek to become a leading player in the value-added market, government data showed Wednesday.Companies are required to obtain an approval from the Ministry of Food and Drug Safety to proceed with the first round of clinical trials for their new drugs. The following two stages of clinical tests are also subject to the ministry's approval. (123RF)The ministry s
May 11, 2016
-
Chinese shoppers start to pick up products other than cosmetics
Chinese tourists to Korea are gradually changing their shopping lists to items other than cosmetics, picking up more health and body care products, a tally indicated Wednesday.Sales records from Olive Young, a leading health and beauty store chain, showed facial sheet masks still topped the bestseller list among Chinese shoppers who came during the April 28-May 3 Labor Day holiday, but unlike before, others in the top five were health and body-related care products. During the holiday last year,
May 11, 2016
-
Lotte focuses on mobile payment platform
Korea's retail conglomerate Lotte Group is ratcheting up efforts to promote its own mobile payment platform, L Pay, industry watchers said Wednesday, as such services gained popularity over previous months amid the rising number of smartphone users.Lotte Group chairman Shin Dong-bin was recently quoted as saying by corporate officials that L Pay is an "important asset" for the business group, adding that Lotte should expand the scope and quality of the services provided by the L Pay platform. Lo
May 11, 2016
-
Kossen to buy 55% stake in ETH
Kossen, a Korean steel pipe manufacturer and renewable energy company, has decided to buy a 55.43 percent stake in electric car maker ETH for 5 billion won ($4.3 million), the company said Tuesday.In a regulatory filing, the company said it aims to make a foray into the electric car market by acquiring 1 million shares in ETH. Established in 2003, ETH is a venture firm that produces an electronic storage system and other testing equipment for secondary cell battery used in electric vehicles. The
May 11, 2016
-
SK speeds up partnership with Middle East
SK Group chairman Chey Tae-won met with the visiting prime minister of Kuwait in Seoul on Tuesday to discuss partnerships, with the aim of speeding up its business in the Middle East. Chey and Prime Minister Jaber Mubarak Al-Hamad Al-Sabah agreed on cooperating in diverse sectors including energy, chemistry, new energy and infrastructure, a company official said. SK Group chairman Chey Tae-won (left) talks with Prime Minister of Kuwait Jaber Mubarak Al-Hamad Al-Sabah on Tuesday (SK Group)“SK Gr
May 10, 2016
-
Legacy of LS Group founders creates ‘cousinhood’ management
During the weekend, tributes were paid to a well-respected figure in the Korean business community. LS Group’s cofounder Koo Tai-hwoi, honorary chairman of LS Cable & System, had passed away at the age of 93. As the fourth brother of LG Group founder Koo In-hwoi, who had six brothers, he had founded LS Group, focusing on power equipment and energy sectors in 2003, with his two younger brothers -- Koo Pyong-hwoi and Koo Doo-hwoi. The four affiliates which formed the foundation of the group includ
May 10, 2016
-
Highest-paid CEOs at home and abroad
Korea’s highest salary earner last year was Samsung Electronics vice chairman and CEO Kwon Oh-hyun, who received 14.9 billion won ($12.8 million) -- about 40 million won a day. While Kwon’s salary is considered colossal even among Korean CEOs, The Korea Herald Superrich Team found a discrepancy when comparing the salaries of top CEOs at home and abroad by analyzing information released by the Financial Supervisory Service, Forbes magazine, and Equilar, an information provider of executive compen
May 10, 2016
-
Hyundai Heavy union calls for management participation
The labor union members of Hyundai Heavy Industries have demanded that the world’s top shipbuilder allow them to participate in management amid a looming labor strife over restructuring.Union leader Baek Hyung-rok met the company’s chief executive Kwon Oh-gap on Tuesday to reportedly call for the right to choose an outside director, alongside negotiations over wage rise and job security that kicked off in the day.“We don’t expect such a right will significantly change the management system. It i
May 10, 2016
-
Kumho Petrochemical takes issue with Asiana’s Kumho Terminal sale
Kumho Petrochemical Co. has taken issue with Asiana Airlines’ recent sale of its stake in Kumho Terminal to Kumho & Company by requesting related documents on Monday.Industry watchers see the move as an attack on Park Sam-koo, chairman of Asiana Airlines’ parent company Kumho Asiana Group, by his brother Park Chan-koo, who heads Kumho Petrochemical. Kumho Petrochemical chairman Park Chan-koo (left) and Park Sam-koo, chairman of Asiana Airlines’ parent company Kumho Asiana Group (Yonhap)As the se
May 10, 2016
-
[Photo News] Korea’s leading biotech body partners with M&A association
KBIO PARTNERS WITH M&A ASSOCIATION -- Seo Jeong-sun (left), president of the Korea Biotechnology Industry Organization, and Korea M&A Association president Kim Ik-rae agree to a cooperative partnership in a ceremony held in Seoul on Tuesday. Under the new partnership, the two bodies will jointly host seminars, educational programs and consulting sessions with the goal of supporting the growth of Korean businesses engaged in the up-and-coming field of biotechnology. (Korea Biotechnology Industry
May 10, 2016
-
KDB to inject capital into Eximbank through KAI shares
The state-run Korea Development Bank said Tuesday that it will hand over its shares of Korea Aerospace Industries to the Export-Import Bank of Korea as part of an emergency financial relief.“We have decided to give our KAI shares to Eximbank,” KDB chief executive Lee Dong-geol told reporters ahead of a meeting with the Financial Services Commission on Tuesday.Korea Development Bank (Yonhap)KDB will hand over its 7.86 percent stake in KAI worth about 500 billion won ($426 million) to boost the ca
May 10, 2016
-
[Photo News] AmorePacific offers beauty services to cancer patients
BEAUTY FOR CANCER PATIENTS -- AmorePacific kicked off this year’s “Makeup Your Life” campaign at the Samsung Medical Center in southern Seoul on Tuesday. The campaign, to be held from May-July and later from September-November, offers beauty programs and makeup services to female cancer patients who have undergone surgery or chemotherapy at some 35 hospitals in and out of Seoul. Since its foundation in 2008, the campaign has served some 10,035 female cancer patients in Korea, according to AmoreP
May 10, 2016
-
Iran to ease regulations on Korean cosmetics exports
Iran and Korea have signed an agreement to partially ease regulations governing Korean cosmetics exports to Iran starting from later this year, making way for the expanded sales of locally made cosmetics in the Iranian marketThe Korean Ministry of Food and Drug Safety on Monday said its Iranian counterpart has agreed to eliminate on-site inspections — which had been mandatory until now — for certified Korean cosmetics destined for sale in Iran. (123RF)As long as they are certified under the Good
May 10, 2016