Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[Music in drama] Rekindle a love that slipped through your fingers
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Korean firms required to overhaul top-down, drinking culture
South Korean companies need to improve their strict top-down management structure and culture of frequent after-work drinking if they want to hire talented workers in China, a local trade association said Thursday.In a survey of 465 applicants for jobs in Korean firms operating in China, the Korea International Trade Association found more than 27 percent of the respondents picked the after-work drinking culture and top-down management style as two major things that should be improved, KITA said
IndustryJune 14, 2018
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Banks preparing for possible resumption of inter-Korean projects
South Korean banks have stepped up preparations for a possible resumption of economic projects in North Korea, as a historic summit between US President Donald Trump and North Korean leader Kim Jong-un raised hopes of more reconciliation between Seoul and Pyongyang.After about five hours of talks in Singapore on Tuesday, Trump and Kim signed a joint statement committing to the "complete denuclearization of the Korean Peninsula." But the statement fell short on details of how the North'
EconomyJune 14, 2018
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Denuclearization talks may give momentum to new economic road map for 2 Koreas
President Moon Jae-in's "new economic road map" for the Korean Peninsula may get its needed momentum once North Korea's denuclearization gets on track, with details getting added to the unified market and economic cooperation belts that he envisioned, according to watchers here Thursday.Prospects of improved and even new economic tieups with the North brightened after the historic North Korea-US summit in Singapore on Tuesday. The premise is that the international sanctions imposed on
EconomyJune 14, 2018
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Would you buy meat from vending machines?
With the rise in the number of one-person households in the nation, 24-hour vending machines selling meat are going to be in service starting end of June.Imagine packaged meat popping out of side-street machines. That looks set to be the future of Korean cities, following the passing of a revision to the Livestock Products Sanitary Control Act, the Ministry of Food and Drug Safety said Wednesday.The revision was passed by the Ministry of Government Legislation, allowing livestock product sellers
IndustryJune 13, 2018
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CEOs serve tables for AmCham charity night
A male staff member of 3M Korea looked excited and happy at the 14th AmCham CEO Servers’ Night at the Conrad Seoul on Tuesday.After taking a selfie with his company head, he said, “I got up some courage under the influence of alcohol. I am now so happy that I just sent the photo to my parents.”The 14th AmCham CEO Servers’ Night (AmCham)Next to him, 3M Korea President Amit Laroya was busy serving wine and food to around 20 employees, cheering his staff and giving presents to them through small ev
IndustryJune 13, 2018
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How profitable will inter-Korean business be?
Anticipation for economic ties with the North is growing in the South following the milestone US-North Korea summit on Tuesday and the inter-Korean summit in April. North Korea opening its market could be a boost to South Korea’s economy in the long term, as it has already entered a slow-growth stage, but it would come at the expense of hefty costs in the short-to-mid term, analysts said. According to a report released by the Korea Institute for International Economic Policy in 2015, inter-Korea
IndustryJune 13, 2018
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Samsung likely to unveil Galaxy Note 9 on Aug. 9: source
The Galaxy Note 9, another premium flagship product by South Korean tech titan Samsung Electronics, is likely to be unveiled on Aug. 9, two weeks earlier than its eighth edition, with some changes in its exterior, according to the industry on Wednesday. Amid the circulating rumors about the upcoming Samsung phone’s debut in early August, an industry source told The Korea Herald that Aug. 9 is a likely date for the ninth edition of the Galaxy Note series. Some other rumors said the unpacked event
TechnologyJune 13, 2018
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[Herald Interview] Redefining manufacturing with machine intelligence
MakinaRocks, a fresh startup spun out from South Korea’s No.1 mobile carrier SK Telecom, has a bold ambition as its name: To shake the manufacturing world with machine intelligence. “We are applying artificial intelligence to the high-tech manufacturing sector with a mission to make manufacturing more productive by harnessing the power of data and AI,” Andre. S. Yoon, a co-founder of MakinaRocks told The Korea Herald on Tuesday. Among many in the broad manufacturing industry, the Korean start
TechnologyJune 13, 2018
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Posco strives for transparent CEO nomination process
South Korean steel giant Posco appears to be taking a cautious approach in selecting its new CEO amid reports questioning the political neutrality of the formerly state-run enterprise.The firm’s council, consisting of five outside board members, picked 11 candidates from 21, in its sixth round of meetings, the company said Wednesday. The list of candidates was not disclosed. The council will interview five candidates at the next meeting, before selecting one finalist in June.The CEO candidate mu
IndustryJune 13, 2018
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Not just Hyundai, others eye NK opportunity
The possibility of North Korea opening up is something not just Hyundai Group is preparing for, with other South Korean conglomerates like Lotte, Hyosung and Posco also anchoring hopes on making inroads into the uncharted market in advance.Retail giant Lotte has been aggressive in forming a task force to study the North Korean market and neighboring countries Russia and China. Communication head Oh Seong-yeop is leading the team to conduct feasibility studies on promoting the tourism industry in
IndustryJune 13, 2018
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Hyundai, Kia step up cooperation with Chinese IT firms for future mobility
South Korea’s largest carmaker Hyundai Motor has signed a partnership with Chinese artificial intelligence startup DeepGlint, as part of measures to beef up “open innovation” with startups in future mobility, the company said Wednesday.The deal was revealed by Hyundai Motor heir apparent Chung Eui-sun at the annual CES Asia 2018 underway in Shanghai, China, for three days until Friday. Chung was making a public appearance for the first time since the conglomerate dropped plans for governance ove
MobilityJune 13, 2018
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Korea needs a boost to domestic demand
With the prospects for Korea’s exports in the coming years dimming, there is increased pressure to expand domestic demand, particularly by promoting service industries through drastic deregulation.A downturn in exports, which have shored up Asia’s fourth-largest economy in recent years amid sluggish domestic demand, could rattle it unless offset by an increase in local consumption and investment, experts say.According to recent data from the Bank of Korea, exports made a 1.8 percenta
EconomyJune 13, 2018
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Food delivery apps thrive in Korea, where 7 in 10 order via mobile
South Koreans are big on food delivery. With just a phone call, food like fried chicken and jjajangmyeon, or Chinese black bean noodles, can be brought to one’s doorstep. While much of this dynamic still stands, Korea’s food delivery market is quickly changing and expanding in scope, mainly riding on demographic shifts and going mobile. Food deliveries are becoming more popular than ever, fueled by single-person households who prefer food deliveries to eating out alone. Smartphones have also st
TechnologyJune 13, 2018
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Voting day a boon for retail industry
The South Korean retail industry has bet on increased sales on Election Day, by rolling out vote-empowering marketing as well as promotional events.Department stores, one of the crowded places on the red-day Election Day, presented various benefits to lure shoppers to come after casting their ballots.Galleria Department store gave out gift certificates, free ice cream and 10 percent-off coupons for those who voted, as part of the vote day promotion event. Galleria delayed the store opening on We
IndustryJune 13, 2018
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[US-NK Summit] S. Korea's biz community hails Trump-Kim summit
The South Korean business community on Tuesday hailed the historic summit between the leaders of North Korea and the United States as it could offer new business opportunities for Asia's fourth-largest economy.North Korean leader Kim Jong-un committed to the complete denuclearization of the Korean Peninsula at the summit with US President Donald Trump in Singapore.The two men also committed to establishing "new" bilateral relations and making joint efforts to build a "lasting and stable" peace r
IndustryJune 13, 2018
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[US-NK Summit] Major research institutes, ministries join peace mood of US-NK summit
South Korea’s state-owned energy corporations and think tanks have recently been observed empowering their inter-Korean economic cooperation functions, in anticipation that the latest US-North Korea talks for denuclearization may open the door to the long-secluded northern part of the peninsula.While research institutes made gestures to expand their related research, ministries and state-owned entities largely remained cautious and settled for subtle personnel readjustments, keeping an eye
EconomyJune 12, 2018
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[US-NK Summit] Unlike Singapore, Korean F&B firms careful about Trump-Kim marketing
While Singaporean food and beverage businesses cashed in on the historical US-NK summit by releasing products from the Trump-Kim burger to “Rocket Man” taco, South Korean F&B companies were more cautious about joining the celebratory mood.“It is surely a historical moment that we all wanted to see, but I think it is still early to launch related products celebrating the historical moment of the two leaders,” an industry insider told The Korea Herald. Trump-Kim burger (Royal Plaza on Scott Face
IndustryJune 12, 2018
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[US-NK Summit] Hyundai Group in the spotlight amid thaw on Korean Peninsula
It all started from one business magnate who crossed the heavily fortified border in Panmunjeom with a herd of 500 cattle two decades ago, spreading the message of peace to people in the North. Hyundai Group, once the largest conglomerate here long before Samsung’s dominance, became the first South Korean business entity to start business operations under Pyongyang’s rare accreditation. Largely hurt by the 1997-98 Asian Financial Crisis and an ugly family feud, however, Hyundai Group lost most o
IndustryJune 12, 2018
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[US-NK Summit] Twitter launches ‘high-five’ emoji for US-North Korea summit, draws backlash
Social media giant Twitter has launched a special emoji to mark the historic US-North Korea summit taking place in Singapore, on projections of an upturn in social media traffic. Ahead of the historic meeting between US President Donald Trump and North Korean leader Kim Jong-un, Twitter encouraged users following the event to use a series of hashtags to activate a new special emoji.“US President @realdonaldtrump will meet North Korea Chairman Kim Jong-un on 12 June in Singapore,” said a tweet fr
TechnologyJune 12, 2018
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Hyundai flags eight wins at international motorsports competitions this year
Hyundai Motor is poised to become a leading automaker in motorsports, sweeping eight wins at the World Rally Championship and World Touring Car Cup so far this year, the company said Tuesday. The latest victory scored by Thierry Neuville, driver of Hyundai WRC team, came last week at the seventh round of the 2018 WRC in Italy.“The rally in Italy was fantastic. We were able to reap a notable record thanks to Hyundai’s outstanding i20 rally car and team members,” said Michele Nandan, the head to H
MobilityJune 12, 2018