Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Military aircraft evacuating S. Koreans in Lebanon returns home
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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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Can Jennie break the K-pop solo artist slump?
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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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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First lady’s Dior bag scandal to be at center of Assembly audit
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Firefighters’ 3,000 won meals spark nutrition concerns
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Asiana faces delay in launching second LCC
Asiana Airlines’ plans to launch a second budget carrier could be delayed as the government has rejected a flight certificate application, industry sources said Thursday.Last year, Asiana Airlines received a license from the Transportation Ministry to operate a second LCC and accordingly applied for the air operator certificate last month. The AOC is granted when an airline passes all operation-related preparations and procedures.According to the sources, the carrier submitted a revised AOC appl
March 31, 2016
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Seoul extends operation term for duty-free stores
The government said Thursday it will extend license terms for duty-free operators from the current five to 10 years, as part of efforts to strengthen global competitiveness of the nation’s tax-free business and to create more jobs.Licenses of duty-free operators will be renewed automatically, unless they are disqualified for violating laws, such as smuggling.“The operational rights will be extended to 10 years from five to create a stable business environment in a long-term perspective,” the Fin
March 31, 2016
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[Photo News] Lotte's duty-free store in Ginza
LOTTE’S DUTY-FREE STORE IN GINZA -- Lotte Group chairman Shin Dong-bin (far right) and his family, including his sister and chairwoman of the Lotte Foundation Shin Young-ja (second from left), his daughter-in-law and son Shin Yoo-yeol (second and third from right) pose for the press on Thursday at the opening of Lotte Duty Free Ginza in Tokyo, Japan. Also present are actress Choi Ji-woo (fifth from left), EXO’s D.O. (third from left) and Chen (sixth from left). (Yonhap)
March 31, 2016
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AmorePacific chief sees more growth potential in China
The head of AmorePacific Co., South Korea‘s top cosmetics company, has reaffirmed his commitment to the Chinese market, saying he sees more room for growth among middle-class consumers there.“By 2020, the middle class population is expected to reach 500 million, and its size and influence will greatly expand in the next decade,” AmorePacific CEO Suh Kyung-bae was quoted as saying during a monthly meeting with senior company officials earlier this month.AmorePacific has been showing stellar perfo
March 31, 2016
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Mercedes-Benz penalized for mishandling customer data
An auto-financing unit of Mercedes-Benz Korea, was penalized by local authorities for failing to take sufficient measures to protect customer information, industry sources said Thursday.The Financial Supervisory Service has issued a warning to Benz Financial Service Korea and ordered the firm to remedy the situation, they said.Benz Financial Service Korea was found to have allowed unauthorized personnel to access personal customer information. In addition to the warning, the watchdog called for
March 31, 2016
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Hyundai Rotem completes production line in Brazil
Hyundai Rotem, a train-making unit of Hyundai Motor Group, said Thursday it completed a railway production line in Araraquara, 280 kilometers from Sao Paulo, Brazil, to spur the railway business in South America. It is the firm’s third plant overseas after the production line in Turkey and the U.S.“The company expects the Brazilian plant with annual production capacity of 200 train units to take a hub role in spurring its business in Central and South America,” a company official said. The compa
March 31, 2016
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KOICA marks 25th anniversary with new exhibition on sustainable development
Korea's overseas aid agency launched a new exhibition Thursday to showcase Seoul's initiatives for sustainable development and the agency's major projects to support them, as it celebrated the 25th anniversary of its inception.Korea International Cooperation Agency (KOICA) opened the exhibition, entitled "KOICA Road for Sustainable Development," at the exhibition center in its headquarters in Seongnam, just south of Seoul. KOICA exhibition in May 22, 2015 (Yonhap)The exhibition, which will run t
March 31, 2016
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Korea's online sales to foreign customers nearly triple in 2015
Korea's online sales to foreign customers nearly tripled last year from a year earlier on the back of rising demand for domestically produced cosmetics and clothing by Chinese consumers, a report showed Thursday.Korean retailers sold an estimated $130 million worth of goods to overseas customers through their online web sites, up from $44.6 million the previous year, according to the report by the state-run Korea Development Institute (KDI).The value of e-commerce exports has been on a sharp ris
March 31, 2016
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‘Descendants of the Sun' buoys Korean economy
Although Korea has been rolling out stimulus measures in recent months to boost sluggish exports and tourism, not many have had as immediate and strong an impact as K-drama. The current sweeping popularity of the drama series “Descendants of the Sun” has become “an unexpected blue chip” for the nation’s slowing economy. Market observers say that the 16-episode series will generate more than 3 trillion won ($261 million) worth of economic effects for the nation that heavily relies on exports for
March 31, 2016
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[Herald Interview] Caffe Bene seeks rebound with Korean-style ‘indulgence’
In mid-March, financially ailing coffee chain Caffe Bene secured a $13 million investment from an overseas partner with an interesting name: Hallyu Ventures.The company is a joint operation between Singaporean global food chain Food Empire and the Salim Group from Indonesia. It was named by Food Empire’s executive chairman Tan Wang Cheow himself. Food Empire executive chairman Tan Wang Cheow speaks to The Korea Herald at the InterContinental Seoul Coex. (Lee Sang-sub/The Korea Herald)The reason
March 31, 2016
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Korea aims to become global bio-health leader
The South Korean government reaffirmed its pledge to support the growth of the nation’s biotechnology and health care sector at the Bio Korea 2016 international convention, which kicked off Wednesday at Coex in southern Seoul.The three-day convention -- which brought together some 23,000 industry officials to discuss and spotlight the latest trends in the local and international bio-health industry -- comes amid Seoul’s efforts to turn it into the country’s next economic growth engine. Prime Min
March 30, 2016
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Seho Tech offers chemical solution for nonflammable material
Overshadowed by big corporate names like Samsung and Hyundai, Korea’s small and medium-sized enterprises with a technological edge have little chance to expose themselves to the global business scene. This is why the Small and Medium Business Administration discovers small and hidden “gems,” driven by innovative technology, and helps them grow into bigger players. Seho Tech, a local chemical materials supplier, is one such company the SMBA recognized as a technological innovation project leader
March 30, 2016
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[Photo News] Interest in Korean defense equipment
INTEREST IN KOREAN DEFENSE EQUIPMENT -- An official from LIG Nex 1, Korea‘s leading arms contractor, promotes Haesung, a long-range anti-ship cruise missile, to Indian high-ranking military officials Tuesday during the Defexpo India 2016 being held in the West Asian country. (LIG Nex 1)
March 30, 2016
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Samsung named more “reputable” than Apple
South Korea’s Samsung Electronics was named the third-most reputable company in the United States, an industry tracker said Wednesday. Apple, on the other hand, was not included in the top 100.According to research conducted by U.S.-based Reputation Institute, the South Korean tech giant came in third behind Amazon.com and Hallmark Cards in terms of reputation in the country.Food manufacturer Kellogg Company, Japanese tech giant Sony and Johnson & Johnson followed Samsung, along with Switzerland
March 30, 2016
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Samsung named No. 3 most reputable firm in U.S.
South Korea's No. 1 tech firm Samsung Electronics Co. was named the third-most reputable company in the United States, an industry tracker said Wednesday, while its top rival Apple Inc. remained out of the top 100.According to research conducted by U.S.-based Reputation Institute, the South Korean tech giant came in behind Amazon.com Inc. and Hallmark Cards Inc. in terms of reputation in the country. Samsung Group headquarters in Seoul (Yonhap)Foodstuffs maker Kellogg Company, Japanese tech gian
March 30, 2016
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Incheon Int‘l Airport to open FedEx cargo terminal
Incheon International Airport and FedEx Corp.’s affiliate Federal Express signed an agreement to open and operate an exclusive FedEx cargo terminal, the airport and the Transport Ministry said Wednesday.According to the airport, the 23,425-square-meter exclusive courier terminal will be built north of the airport and will be completed in 2019 with operations beginning in the second half of that year, the airport said. The terminal will be twice the size of cargo terminals currently being operate
March 30, 2016
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Overseas deals hit record high at Seoul fashion event
A Korean fashion event drew the curtains after achieving a record-high number of export deals from foreign fashion businesses, state data revealed Wednesday. Some 400 international fashion buyers surged to the 2016 F/W Fashion Code hosted by the Korean Ministry of Culture, Sports and Tourism, and jointly organized by the state-run Korea Creative Content Agency and the Council of Fashion Designers of Korea, a private organization. Seoul Fashion Week (Yonhap)A total of 90 local fashion brands part
March 30, 2016
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Sales at department stores, outlets dip in February
Korea's major department stores and discount chains saw their sales decrease in February from a year earlier due to reduced holiday shoppers, government data showed Wednesday.The combined sales of three department stores -- Hyundai, Lotte and Shinsegae -- edged down 1.9 percent on-year last month, while those of major discount stores of E-Mart, Lotte Mart and Home Plus fell 7 percent, according to the data compiled by the Ministry of Trade, Industry and Energy. Lotte Department Store (Yonhap)The
March 30, 2016
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Drivers subscribing to KakaoTaxi enjoy profit surge
Local taxi drivers registered with Korea's top taxi-hailing application KakaoTaxi saw their profit rise 13.4 percent after joining the platform, the operator said Wednesday, adding it also made cab rides more accessible to a wider scope of users.Under the survey conducted on 9,730 taxi drivers who are members of KakaoTaxi, their daily profit reached 125,807 won ($109) on average, compared with the 110,894 won posted before the launch of the application. The figure translates into an annual profi
March 30, 2016
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Sushi for W390 in Korea
Korea’s retail giant Homeplus launched an expanded line of sushi, which will sell for 390 won (30 cents) each until April 6. Homeplus announced Wednesday that it built on their existing sushi line “Chef Sushi,” which was originally limited to 16 types, to 34 variations. These bite-sized delicacies include localized specialties such as tuna-mayonnaise and beef bulgogi sushi, which will cater to the tastes of children and customers who seek something other than seafood on their sushi rice. (123rf
March 30, 2016