Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Yoon set for talks with Marcos in Philippines
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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Can Jennie break the K-pop solo artist slump?
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Firefighters’ 3,000 won meals spark nutrition concerns
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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[News Focus] Will Seoul push for consolidation of warship makers?
A number of options are being considered for restructuring the Korean shipbuilding industry, which suffers from overcapacity, with the government stepping up its active intervention. The latest option being discussed is the consolidation of military ship makers, a local business daily said Monday, quoting a high-ranking government official close to the matter.South Korean defense contractor Daewoo Shipbuilding and Marine Engineering unveils the first out of three submarines for the Indonesian De
April 25, 2016
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Brewers mulling beer price hike
Korean liquor companies are reportedly considering raising the price of beer products starting next week, citing rising raw material and logistics costs, according to local reports.Reports quoting industry sources said Oriental Brewery Co., owned by Anheuser-Busch InBev, the world‘s biggest brewer, has sent notices to wholesale dealers across the country that it would increase beer prices 5.3-5.6 percent starting May 1.The wholesale price of a half-liter Cass, OB‘s best-selling beer brand, is ex
April 25, 2016
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Koreans eat more bacon, less rice for breakfast
A rising number of Koreans are opting for bagel and bacon in place of rice for breakfast. Gmarket, one of the leading online retailers that also sells groceries here, said Monday that sales of products related to western-style breakfasts have more than doubled in the period leading up to April 20 this year, compared to the same period last year. (Yonhap)According to the retailer, sales of eggs has grown by 18 times, while sales of bacon and other processed pork products went up by 68 percent and
April 25, 2016
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[Photo News] Lotte awards value champion
VALUE CHAMPION -- Lotte Group chairman Shin Dong-bin (left) poses with Ji Sang-hoon, leader of the polycarbonate production team at Lotte Chemical’s Yeosu factory, who won the Value Champion Award for contributing to the group’s efforts in saving energy and enhancing productivity, at the annual HR Forum at Lotte Concert Hall in Jamsil, Seoul, on Monday. (Lotte Group)
April 25, 2016
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KT makes girl group concerts available on IPTV, VR
KT, Korea's second-largest mobile carrier, has simultaneously broadcast a K-pop concert in real-time at home and overseas on its IPTV service, a move to secure a new source of profit with the rise of K-pop, the company revealed Monday.KT's latest live broadcast of K-pop concerts was on Friday, when it aired its first exclusive live concert of the K-pop girl group Stellar on its IPTV operation, Olleh TV. K-pop girl group Stellar on IPTV operation, Olleh TV (Yonhap)The real-time broadcast was mad
April 25, 2016
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Marginal large companies account for 12% of policy lending
About 12 percent of corporate lendings by Korea's two government-owned policy lenders were extended to marginal large companies as of 2014, a report showed Monday, amid rising public calls for drastic corporate restructuring.A company failing to earn enough operating income to cover its interest expenses for three consecutive years is defined as marginal by the Bank of Korea.The Korea Development Bank (KDB) and the Korea Export-Import Bank (Exim Bank) provided a combined 82 trillion won ($7.12 b
April 25, 2016
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Hyundai Rotem wins $316m deal from Turkey
Hyundai Rotem, the train-making unit of Hyundai Motor Group, said Monday that it beat rivals in China and Europe to clinch a $316 million deal for supplying subway trains to Turkey.Under the deal signed with the Istanbul city government, Hyundai Rotem will deliver 300 trains by the end of 2021. Hyundai Rotem said it will begin supplying the trains during the first half of this year. Trains are assembled at Hyundai Rotem‘s assembly line in Korea. (Yonhap)Marking the 14th deal with Turkey for Hyun
April 25, 2016
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IPTV subscriptions on steady rise in 2016
The number of subscribers to Internet Protocol television in the first three months of 2016 reached 1.29 million as of March showing steady growth, an IPTV suppliers’ association said Monday.The March figure reflects an increase of 360,000 from December 2015, data by the Korea IPTV Broadcasting Association showed. (Yonhap)The association estimates the number to have surpassed 1.3 million this month, considering there was an average of 120,000 more subscribers each month in that period.IPTV subsc
April 25, 2016
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Shipyard subcontractors poised for mass layoffs
Subcontractors of South Korea’s three major shipbuilders may carry out massive job cuts this year on sluggish business conditions, industry sources said Monday.The shipbuilders -- Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries -- suffered a combined 7.7 trillion won ($6.7 billion) in losses last year, marking the first time that all three posted losses. Hyundai Heavy Industries’ shipyard in Ulsan, South Korea (Yonhap)With few new offshore orders
April 25, 2016
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South Korean panel-makers lost market share
South Korean panel-makers lost ground to Chinese and Taiwanese rivals in the global large-sized panel market in the first quarter from a year earlier, data showed Monday.South Korean firms had a 38.3 percent market share for panels sized above 9 inches in the January-March period, falling from 43.1 percent a year earlier, according to data from industry tracker IHS showed. LG Display’s Paju plant (Yonhap)In particular, Samsung Display slipped to fifth place for the first time with a 14.5 percen
April 25, 2016
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Kumho Asiana to hold free concert Wednesday
Kumho Asiana Group will hold a free evening concert featuring two female jazz musicians, the group said Monday.The event titled “Spring Lobby Concert” will be held at 6:15 p.m. Wednesday in the lobby of the group’s main office in Gwanghwamun, central Seoul. The group, in collaboration with the Ministry of Culture, has been holding the event every last Wednesday of the month. Kumho Asiana‘s Lobby Concert held in June, 2015. (Kumho Asiana)The concert this week will feature two distinguished jazz m
April 25, 2016
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Shipyard subcontractors may massively cut jobs
Subcontractors of South Korea's major shipbuilders may massively cut jobs this year as they have become a white elephant for shipyards with sputtering offshore business, industry sources said Monday.The shipbuilders -- Daewoo Shipbuilding & Marine Engineering Co., Hyundai Heavy Industries Co. and Samsung Heavy Industries Co. -- suffered an estimated 7 trillion won ($6.09 billion) in operating losses from their offshore facility business last year alone due to increased costs resulting from delay
April 25, 2016
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Science Farm to enter African and Asian markets with its smart crop cultivation technology
Science Farm (CEO: Yu Byeong wu), a smart farm solution provider, announced on April 20 that it is considering entering markets in the Africa and Asia regions based on the experience it has accumulated through its domestic business activities. The company applies convergence technology, smart devices, and big data to the cultivation of plants, flowers, and fruit.Inside a greenhouse on Baengnyeongdo Island, Gyeonggi-do, where a smart farm solution developed by Science Farm is being used. (Science
April 25, 2016
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WJS Ginza, window to Japanese culture
TOKYO -- At a glance, Tomohito Nashida looked quite the quintessential modern Japanese gentleman. For a recent interview with The Korea Herald, he had matched a pair of coral slacks with a closely fitted jacket. His wavy hair framed a face that was slightly exotic, but all the same, quite Japanese.But inside, Nashida was all about connecting with the outside. Hence, his latest investment -- a tourist and culture center for foreigners located in downtown Tokyo. Seven Holdings CEO Tomohito Nashida
April 24, 2016
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[Graphic News] Manufacturing sector has most indebted companies
More than half of heavily indebted companies that fail to generate enough earnings to make interest payments come from manufacturing industries, which have led job creation in Korea.According to a report by the Korea Employment Information Service, 52.2 percent of 17,841 companies with an interest-coverage ratio failing to reach 1 for a third consecutive year during the period of 2005-2014 were manufacturers.An ICR below 1 means the firm‘s earnings are insufficient to make interest payments.With
April 24, 2016
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[Photo News] AmorePacific runs for breast cancer awareness
(AmorePacific)Social and corporate leaders cheer with other supporters at the Pink Ribbon Love Marathon for breast cancer awareness in Busan on Sunday. Included are Kim Young-soo (fifth from left), head of AmorePacific‘s Premium Business Unit, Mamonde spokesmodel Park Shin-hye (center) and Noh Dong-young (fifth from right), head of the Korea Breast Cancer Foundation.The Busan race was the first of an annual series of races for breast cancer awareness sponsored by AmorePacific. The races are host
April 24, 2016
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Shinhan Financial leads in Q1 earnings
First-quarter earnings reports show Shinhan Financial Group cementing its lead in the local banking sector, with a 30 percent increase in net profits. The group’s net profit in the January-March period stood at 771.4 billion won ($670.7 million), up 30.3 percent from the same period last year, the company said in a regulatory filing last week. From three months earlier, the tally marked a spike of 90.9 percent. “Improvements in banking, with a pickup in the net interest margin, had a big role (i
April 24, 2016
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CJ opens second cultural space ‘Azit’
CJ Group has opened its second production studio and performance hall to support new artists in commemoration of the 10th anniversary of its CJ Culture Foundation, the group said Sunday.“Just as CJ Group pioneered the culture industry 20 years ago and helped to develop the industry, the CJ Culture Foundation will provide a space where talented artists can grow and complete a virtuous cycle within the cultural ecosystem,” CJ Corp. vice chairman Lee Chae-wook said in an official statement.Artists,
April 24, 2016
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Processed food exports to China up 18% in 2015
Korean processed food exports to China saw a nearly 20 percent increase in 2015 despite an overall drop in total China-bound exports, data showed Sunday.According to figures released by the Korea International Trade Association, Korea exported $623 million of processed food to China last year. This showed an 18.2 percent increase from the previous year‘s $527 million. (Yonhap)Processed food was the only product category that grew by double digits last year. Total shipments from Korea to China fe
April 24, 2016
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Manufacturing sector has most indebted companies
More than half of heavily indebted companies that fail to make earnings enough to make interest payments come from the manufacturing industry, which has been leading job creation in recent years.According to a report by the Korea Employment Information Service, 52.2 percent of 17,841 companies with an interest-coverage ratio failing to reach 1 for a third consecutive year during the period of 2005-2014 were manufacturers.An ICR going below 1 means the firm is not making earnings enough to make i
April 24, 2016