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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Incheon Airport aims to become world’s fifth-largest airport
Incheon Airport aims to become the fifth-largest airport in the world, able to handle 66 million international passengers a year by 2020, the airport’s new CEO said Monday.To reach that goal, Incheon International Airport Corp. CEO Chung Il-young vowed to upgrade its infrastructure, service facilities, human resources and airline network. Incheon International Airport Corp. CEO Chung Il-young (Won Ho-jung/The Korea Herald)“Our facilities have grown old, and must be restored and maintained. The
March 14, 2016
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Hanjin chairman under fire for trivializing pilots’ job
The owner of Hanjin Group, parent company of the country’s largest flag carrier Korean Air, came under fire Monday for demeaning pilots by stating that they are useful only during emergencies.Commenting on a Facebook post uploaded by a Korean Air pilot, Hanjin Group chairman Cho Yang-ho said his employee was exaggerating, and that pilots’ work is easier than driving a car thanks to the autopilot system. “Pilots are briefed by flight control staff as well as weather analysis by the operation cent
March 14, 2016
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Nature Cell begins U.S. phase II trials of arthritis stem cell therapy
South Korean biotechnology firm Nature Cell on Monday said it has begun Phase II clinical trials on its stem cell-based osteoarthritis treatment in the U.S., drawing a step closer to commercializing the new drug overseas. Osteoarthritis, sometimes called degenerative joint disease, is the most common chronic condition of the joints, occurring most often in the knees, hips, lower back and neck, according to the U.S.-based Arthritis Foundation. Dubbed “Joint Stem,” Nature Cell’s new therapy uses a
March 14, 2016
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Samsung's brand value rises but relegated to 3rd spot
The brand value of South Korea's top conglomerate Samsung Group rose to $83.1 billion in 2015, but its ranking dropped one notch from a year earlier, industry data showed Monday.According to the data compiled by British industry tracker Brand Finance, Samsung stood as the world's No. 3 firm in terms of brand worth. It marked a 1.8 percent rise from a year earlier.U.S.-based Apple Inc., Samsung's key rival in the tech industry, took the throne with $146 billion, up 14 percent from a year earlier.
March 14, 2016
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Mundane home appliances go Internet-smart
Internet connection is working deeper into everyday lives as more home gadgets, small and big, become controllable by smartphones under an industry-wide advance of the Internet of Things (IoT), business watchers said Monday.The latest air purifier marketed in October last year by Coway regularly measures indoor air quality and transmits the measurements to the user via smartphone. It also sends alarms so that the users can turn the device on should fine dust particles or other unwanted pollutant
March 14, 2016
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KEPCO's profitability growing sharply since 2007
Korea's top electricity provider, state-run Korea Electric Power Corp. (KEPCO), enjoyed a sharp improvement in its profitability last year with its margin from selling electricity bought from private firms hitting the highest since 2007, industry data showed on Monday.According to the data, KEPCO sold one kilowatt-hour (kWh) of power at 111.57 won ($0.10) last year, slightly up from the previous year's 111.28 won. In contrast, private electricity firms sold electricity to KEPCO for 84.05 won per
March 14, 2016
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Online markets move to service sales
Online shopping operators are turning to personalized services as they try to differentiate themselves in the teeming industry, taking care of small errands like shoe polishing to more extensive services that include interior remodeling, industry watchers said Monday.Further blurring the online-offline boundary, these operators are taking broader steps by putting together an array of services instead of specializing in a single category like food delivery and cab hailing. Prices range from 6,000
March 14, 2016
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Kumho Asiana holds speech contest in Japan
Kumho Asiana Group held a speech contest in Tokyo on Saturday to bridge cultural differences between Japan and Korea, officials said Sunday. Nearly 600 students participated in the annual event, demonstrating growing interest in Korean language and culture among the young generation. Two finalists stage a short play at the ninth Kumho Asiana speech contest held at the Korean Cultural Center in Tokyo on Saturday. (Kumho Asiana)Held at the Korean Cultural Center in Tokyo, students competed in thr
March 13, 2016
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Korean men turn to cheaper presents on White Day
Male consumers appear to be cutting back on their spending on White Day gifts this year, purchasing cheap candies instead, amid the prolonged economic downturn, according to an online market operator on Sunday.(Yonhap)Gmarket said based on its data analysis that sales of expensive gift items such as handbags and perfumes, fell 13 percent and 7 percent respectively, compared to the same period last year. The volume of jelly and candies purchased by male customers, however, surged 47 percent and 1
March 13, 2016
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CJ chairman’s half-brother files inheritance suit
The ill-fated son of the late honorary chairman of food and entertainment giant CJ group -- born out of wedlock -- has filed an inheritance suit against the owner family, asking a local court to return part of his father’s fortune.According to sources in legal circles, the illegitimate son -- of late CJ chairman Lee Maeng-hee and an actress in the `60s -- had requested to retrieve a legal portion of his inheritance worth 200 million won ($167,000) late last year. The first trial of the inheritan
March 13, 2016
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Searching for niche orthopedic shoe market
The name Karl Muller is most recognized in the orthopedic shoe world as referring to the mechanical engineer who developed the Masai Barefoot Technology shoe in the late 1990s. Now there is a second Karl Muller -- the original Muller’s son, who jumped into the market in 2008 with his own brand of Swiss wellness shoes, Joya. “When I was growing up, all I knew was making shoes,” Muller Jr. told The Korea Herald at the Joya Seoul office in Mapo-gu on a visit to Seoul. Born in 1985, Muller Jr. spent
March 13, 2016
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Oil price rebound offers positive outlook for Korean shipbuilders
The recent rebound in international oil prices is brightening the business outlook for South Korea’s shipbuilding industry, which posted its worst performance last year. Crude prices, which have plummeted 70 percent since June 2014, rose to around $38 per barrel on Friday, the highest in three months, as optimism returned. (Yonhap)The Paris-based International Energy Agency said Friday that oil prices “may have bottomed out,” citing that Iran’s return to oil production has had a less dramatic im
March 13, 2016
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S. Korea wins WTO against U.S. anti-dumping duties on washer makers
The World Trade Organization has ruled in favor of South Korea in its suit against the United States over its anti-dumping duties on the country's washer manufacturers, the government said Saturday.The WTO Panel has found that the 2013 U.S. measure was taken in breach of WTO rules, according to the Ministry of Trade, Industry and Energy. The panel circulated a related report to the member states of the WTO the day.The U.S. has 60 days to decide whether to appeal against the decision.The U.S. Dep
March 12, 2016
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Korean Air to launch direct service to Iran
A direct air route linking South Korea and Iran will open for the first time in four decades following the lifting of international sanctions against the Middle East country, the government said Friday.The Ministry of Land, Infrastructure and Transport said it will give a flight license to Korean Air Lines Co., the country's largest air carrier, to ferry passengers and air freight four times a week between Incheon, the country's main gateway on the outskirts of Seoul, and Tehran.Korean Air, who
March 11, 2016
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Duty-free operators deliver mixed reactions to regulations change
Forthcoming changes to regulations governing South Korea’s lucrative duty-free business are sparking both hopes and concerns from key stakeholders, such as Lotte, Shilla, Shinsegae and Doosan. The government is close to reaching a decision on several propositions -- including an extension of the current five-year business license term for duty-free stores to 10 years and raising the license fees by up to 20 times.(Yonhap) The Ministry of Strategy and Finance recently announced that it will conve
March 11, 2016
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[Photo News] LG affiliates receive award from GM
LG AFFILIATES RECEIVE AWARD FROM GM -- Two LG Group affiliates -- LG Electronics and LG Chem -- said Friday that they have received the Overdrive Award from U.S. carmaker GM for their innovative automotive technologies. LG Group’s battery business unit supplies batteries to GM’s electric vehicles, including Spark EV and Bolt EV. (LGE)
March 11, 2016
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Galaxy S7 smartphones starts sales in S. Korea
Samsung Electronics started selling its latest high-end smartphones -- Galaxy S7 and the Galaxy S7 Edge -- in South Korea on Friday. The two models, first showcased at a trade fair in Spain last month, come with improved batteries and are water and dust resistant. The company also brought back the micro SD card slot that had disappeared in the Galaxy S6 series. Samsung’s Galaxy S7 (Yonhap)The world’s top smartphone-maker said the local price of the 32 gigabyte (GB) Galaxy S7 is 836,000 won ($69
March 11, 2016
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Car crashes into Hyundai Motor building
An SUV crashed into the front doors of Hyundai Motor’s headquarters in Seoul on Friday, about an hour before the carmaker’s annual shareholders meeting, according to witnesses. The Hyundai-made Sante Fe car drove into the front glass doors of the building at around 8 a.m. A Sante Fe SUV crashes into Hyundai Motor’s headquarters in Seoul on Friday. (Yonhap)No injuries were reported. The driver, whose identify has yet to be confirmed, is now in police custody, company officials said.Some reports
March 11, 2016
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[Consumer This Week] Amway, Millet, The Body Shop, Nike, CU, Customellow, Lotte Foods
(Amway)Amway launches dietary supplement brand Amway launched its latest brand Truvivity in the Korean market Monday, to expand its presence in what it calls the “inner beauty” market Truvivity is a joint project between the teams of Amway’s dietary supplement brand Nutrilite and skin care brand Artistry. The first two Truvivity products to be released in Korea are moisturizers: The pill-form Aqua Supplement and the Aqua Powder Drink. The Aqua Supplement is taken before bed, while the Aqua Powd
March 10, 2016
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Korea legalizes customized cosmetics
The Korean government said Wednesday that it plans to legalize customized cosmetics -- cosmetic products made on-the-spot by readily mixing various base ingredients, colors and scents according to preference. The introduction of this new cosmetics format -- previously banned for sales due to potential safety concerns -- is projected to further diversify and expand the country’s vibrant cosmetics industry. The legalized product categories include four types of perfumes, 10 types of skin care pro
March 10, 2016