The Korea Herald

Lotte mall strives to regain trust

Inside the new Lotte World Mall in southeastern Seoul on Sunday afternoon, the atmosphere at last felt like what a mall of its scale should look like on a weekend ― crowded and bustling with people.For the first time in months, most of the mall’s store clerks were busy attending to a rare influx of customers while many restaurants saw its tables fill to capacity.After Lotte finally gained permission from the Seoul Metropolitan Government to reopen the aquarium and the cinema complex on Tuesday f

Industry May 13, 2015

GS Energy, KNOC secure 3% stake in UAE oil fields

A South Korean consortium sealed a landmark deal on Wednesday to secure a 3 percent stake in the Abu Dhabi Company for Onshore Oil Operations, which operates the biggest onshore oil fields in the United Arab Emirates.The new deal grants the South Korean consortium ― comprised of GS Energy and the Korea National Oil Corp. ― developing rights to ADCO’s oil fields for 40 years, alongside other foreign companies including France's Total and Japan's Inpex.Over the 40 year period, Korea is expected to

Industry May 13, 2015

Korea, China and Japan resume trilateral FTA talks

South Korea, Japan and China began the seventh round of negotiations for the Korea-China-Japan joint FTA in Seoul on Tuesday, as the chief negotiators from each country vowed to make progress on the trilateral trade pact, emphasizing its benefits.The high-level discussion, which will continue until Wednesday, marks the first time that the head negotiators from the three states have come together to discuss the terms of the FTA. They will continue to expand upon a series of working-level discussi

May 12, 2015

Korea, China and Japan resume trilateral FTA talks

Audi sports car race to open in Yeongam this weekend

South Korea will host the third and fourth rounds of the Audi R8 Le Mans Series 2015 this weekend at the Korea International Circuit in Yeongam, South Jeolla Province, according to Audi Korea Monday.The Audi R8 LMS Cup is an international sports car race based in Asia, in which drivers can only use cars from Audi’s R8 LMS lineup ― specially designed GT3 racing cars based on Audi’s high performance sports car the R8.Team Audi Korea You Kyoung-ouk’s vehicle. (Audi Korea)This year’s edition of Audi

Mobility May 11, 2015

Audi sports car race to open in Yeongam this weekend

[Weekender] A wealth of multiplex malls to choose from

Whether it is groceries, clothing, furniture, jewelry or electronics, shopping has never been easier than in South Korea, where it is possible to buy just about anything from the comforts of one’s home using a smartphone or computer. Regardless of the convenience, thousands of Koreans today continue to head to city centers to visit shopping malls, which have evolved from singular department stores into mega “multiplex malls” ― urban hotspots offering not only shopping opportunities, but also a w

Culture May 8, 2015

[Weekender] A wealth of multiplex malls to choose from

Solar tech sales to soar on global demand

Solar technology firms are expected to record improved sales this year, as global sales of solar modules are estimated to increase about 20 percent, according to recent market data.With improved market demands for solar panels, revenue for the solar photovoltaic module industry is forecast to hover at $38 billion in 2015, a 20 percent increase from a year earlier, according to market research firm HIS.The industry’s collective profits are estimated to more than double to $5 billion this year, in

Industry May 8, 2015

Korean gas stations to get world’s first IT fuel security module

Starting July, all newly-manufactured fuel dispensers in South Korea will be equipped with the world’s first IT module that monitors fuel flow in real-time via the Internet, as part of the government’s latest efforts to prevent gas stations from deceiving customers.Developed by the inspection research agency Korea Testing Certification, the security module, to be attached inside the meter, includes a specially-designed MicroSD card that compares the amount of fuel flowing out the dispenser with

Technology May 7, 2015

Korean gas stations to get world’s first IT fuel security module

German chamber in Korea publishes CSR report

The Korean-German Chamber of Commerce and Industry has published a report detailing diverse social contribution programs led by 11 German companies in Korea, including Stuttgart Sports Cars Ltd., BASF, BMW Group, Mercedes-Benz and Bayer Korea.The KGCCI’s CSR Report describes diverse programs run by 11 German firms to fulfill their corporate social responsibility, or CSR, which refers to a company’s voluntary efforts to engage with and give back to the community.KGCCI decided to compile the repor

Mobility May 7, 2015

Shopping channels refuse banned-herb refunds

South Korea’s major TV shopping companies are refusing to provide unconditional refunds for a popular traditional herb product found to contain an illegal substance, sparking an uproar from customers seeking compensation. Last week, the Ministry of Food and Drug Safety announced that Korean biotech firm Natural Endotech ― which specializes in making health products using a medicinal herb called Cynanchum wilfordii or “Baeksuho” in Korean ― used a cheaper, toxic ingredient, Cynanchum auriculatum

Industry May 5, 2015

DuPont settlement to boost Kolon’s profits: analysts

South Korean textile and chemical company Kolon Industries is expected to see profits rise this year thanks to its legal settlement with global giant DuPont last week over the alleged theft of company trade secrets, analysts in Seoul said Monday.Kolon’s yearly operating profits are likely to rise by 53.4 percent to reach some 258.9 billion won ($239 million) this year due to improved business conditions, according to Meritz Securities.Last Thursday, Kolon pleaded guilty to the charge of conspiri

Industry May 4, 2015

U.S. welcomes improved Seoul-Beijing ties: Lippert

U.S. Ambassador Mark Lippert has dismissed concerns that South Korea’s improved ties with China could alter the U.S.-Korea alliance, welcoming Seoul and Beijing’s closer economic cooperation.“The U.S. welcomes a better relationship between Beijing and Seoul,” Lippert said at the American Chamber of Commerce in Korea’s general membership meeting in Seoul on Thursday.South Korea has recently expanded ties with China by signing a bilateral free trade agreement and joining the China-led Asia Infrast

Industry April 30, 2015

U.S. welcomes improved Seoul-Beijing ties: Lippert

KCCI to host corporate photo contest

The Korea Chamber of Commerce and Industry began accepting applications for the second Korea Corporate Photography Contest on Thursday, the biggest photography contest in the country, under the theme of “Corporations, Life and People.”Anyone in and outside of Korea can submit a photograph from May 1 to Sept. 30. The only requirement is that the photographs must be related to corporations in some way. Participants can submit as many entries as they want via online registration. It costs 1,000 won

Industry April 30, 2015

Amway Korea recruiting for global internship program

Amway Korea, the Korean unit of the leading U.S.-based direct-sales company Amway, is recruiting undergraduate and graduate university students for its fifth Amway Korea Global Internship Program. The hiring process includes an initial application screening and a subsequent evaluation that includes a group debate and an interview conducted in both English and Korean.Those selected will work as Amway Korea interns for eight weeks from June 22 to Aug. 14. Each intern will be assigned to a departme

Industry April 30, 2015

Ikea Korea, Gangdong-gu sign MOU on store construction

Global home furnishing giant Ikea said it will sign an memorandum of understanding with the Gangdong-gu district office in southeastern Seoul on Thursday to cooperate in overseeing the construction of a new Ikea store inside the Godeok Commercial Multicomplex scheduled to open in 2017.Ikea Korea’s country retail manager Andre Schmidtgall and Gangdong-gu chief Lee Hae-sik will establish a mutual partnership to ensure the smooth establishment of the Ikea Gangdong store ― one of four new Ikea store

Industry April 29, 2015

GS Caltex runs programs to help community

GS Caltex has been organizing art therapy for children, a center for the elderly, scholarship funds for low-income students and other social contribution programs in South Korea. Since 2013, the nation’s second-largest oil refiner has been running the Maeum Toktok program, which provides psychological therapy through art, acting and dancing to children who have suffered from domestic and school violence. So far, more than 4,300 children have received the treatment. Starting this year, GS Caltex

Industry April 28, 2015

GS Caltex runs programs to help community

Articles by Sohn Ji-young