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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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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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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On May Day, labor unions blast Yoon's foreign nanny proposal
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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[Newsmaker] Tobacco firms rebut ministry’s claim that HNB cigarettes produce more tar
Heated debate ensued after the announcement by the Ministry of Food and Drug Safety of its safety results on recently popular heat-not-burn e-cigarettes on Thursday, which found the products to be equally, if not more, harmful compared to traditional cigarettes. “I have always thought a HNB cigarette is a better option for chain smokers like me. I have invested some 100,000 won ($93) for getting the device in the beginning, and now I’m thinking about reselling the device,” said 37-year-old Kim D
IndustryJune 7, 2018
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NK thaw signals end to export-driven economy: Herald forum
A tectonic shift is unraveling in and around the Korean Peninsula, especially in the wake of rapprochement mood and signs of denuclearization in North Korea, as well as trade war threats in East Asia. But to businessmen here, the looming transformation in the world‘s most secluded state could translate into a change in environment to which they would be forced to adapt. Experts and veterans in economic fields in South Korea discussed ways to address the transformation, to some 200-strong a
EconomyJune 7, 2018
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Financial industry getting ready to embrace North Korea
South Korean financial institutions are getting ready to embrace the future economic ties with North Korea amid cooperative atmosphere following the inter-Korean summit in April and a week ahead of the US-North Korea summit. Samsung Securities said Thursday it set up a research team on investment in North Korea for the first time among the nation’s financial companies. The firm said the team was set up to “provide systematic analysis on North Korea from a long-term perspective as the nation’s ge
IndustryJune 7, 2018
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Key economic, political events could rock local stock market
Investors are keeping close tabs on various scenarios that could potentially lead to a "June crisis" amid key global market-moving and political events, observers here said Thursday.Increased volatility caused by rate hikes in the United States and eurozone risks, among other things, and the subsequent market adjustment are all likely, but it seems far-fetched to translate this as something that could lead to a financial meltdown, they pointed out.In May alone, the benchmark Korean Sto
EconomyJune 7, 2018
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GM Korea unveils 2 SUV models to boost sales
GM Korea Co., the South Korean unit of General Motors Co., on Wednesday unveiled two sport utility vehicles to be launched in the domestic market to boost its sluggish sales. YonhapThe two models are the midsize Equinox SUV and the large-size Traverse SUV. They will be produced in the United States and shipped to the Korean market, a GM Korea spokesman said. The Equniox is scheduled to be launched this year, but the launch timetable for the Traverse has yet to be released. On top of th
IndustryJune 6, 2018
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Samsung’s first micro LED display hits global market
Samsung Electronics on Wednesday announced the official launch of the first micro LED display for industrial use at a trade show in the US, commercializing the next-generation display technology. Named “The Wall Professional,” the micro LED signage display is the first modular type bezel-less display whose size can be adjusted by users for different purposes. Micro LED panels, which feature miniature light-emitting diode arrays, come with smaller, brighter modules and improved response speed com
TechnologyJune 6, 2018
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[Eyes On] How bad will it get for Korean Air?
Following a string of incidents involving the misconduct of members of Korean Air’s owner family, employees from the country’s largest air carrier are unable to mask their cynicism.“This too shall pass -- somehow -- is what we all think,” a Korean Air flight attendant told The Korea Herald, referring to the latest allegations surrounding Lee Myung-hee, wife of Hanjin Group Chairman Cho Yang-ho, and their two daughters Cho Hyun-ah and Cho Hyun-min. Hanjin is the holding company of Korean Air and
IndustryJune 6, 2018
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Novartis Korea recruits participants for ‘I-Eum’ program
Novartis Korea, the local branch of the Swiss pharmaceutical giant, said Wednesday it will recruit participants for a project to support patients who wish to return to work after having left due to illness.In partnership with the Work Together Foundation, a public welfare foundation that helps youths, women and middle-aged people find jobs, the company said that the “I-Eum” program would “reconnect patients with hope, work and the world.” Novartis Korea said the program aims to provide psychothe
IndustryJune 6, 2018
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[Busan Motor Show] Benz to debut EQ model; Audi, GM seek turnaround in local sales
With one of the biggest auto industry events in South Korea kicking off this week, the spotlight of the 2018 Busan International Motor Show will be on the world premiere of Mercedes-Benz’s EQ model and Hyundai Motors’ large sport utility vehicle concept.Held under the slogan “Beyond Innovation, Into the Future” the 10-day event opens Friday and runs through June 17 in the southeastern port city of Busan, with some 15 automakers displaying over 200 models, event organizer Busan Exhibition & Conve
MobilityJune 6, 2018
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[From the Scene] With new Ireland plant, SK biotek eyes pharma industry lead in Europe
SWORDS, Ireland — With a complex system of metal pipes filling up the space, trucks carrying large tanks of marked substances and chimneys belching out puffs of white, the facility seems like a typical fine chemicals plant from the outside.However, it is not brewing chemicals for heavy industry, but the baseline ingredients for life-saving medications developed by some of the world’s leading pharmaceutical companies including Bristol-Myers Squibb, AstraZeneca and Pfizer.Meet SK biotek Ireland, a
IndustryJune 6, 2018
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KT chairman suggests ICT solutions for ‘Smart Boracay’
KT Chairman Hwang Chang-gyu introduced the mobile carrier’s information and communication technology solutions for Boracay, a small island in the Philippines, suggesting turning the tourist island into a “smart” one in a meeting with Philippine government officials, the company said Wednesday. In a meeting with acting Minister Eliseo Mijares Rio Jr. of the Department of Information and Communications Technology, incoming ICT Minister Gregorio Honasan and Jonas R. Leones, vice minister for enviro
TechnologyJune 6, 2018
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Seoul asks Beijing for fair investigation into Korean chipmakers
South Korea's industry minister called on China to fairly conduct an antitrust probe into two Korean chipmakers as regulators are reportedly looking into their alleged price fixing, his office said Tuesday.Paik Un-gyu, South Korean minister of trade, industry and energy, made the request during a meeting with China's Commerce Minister Zhong Shan in Beijing in which they discussed ways to expand economic cooperation and investment between the two nations. Paik Un-gyu, South Korean minister of tr
TechnologyJune 5, 2018
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Philippine President Rodrigo Duterte visits E-Mart
SEOUL -- Philippine President Rodrigo Duterte on Tuesday visited the headquarters of E-Mart Inc., South Korea's largest discount hypermarket chain, the retailer said.The chief executive attended a Philippine food festival and looked around Philippine fruits and other products at the E-Mart store in Seoul, an E-Mart official said. Philippine President Rodrigo Duterte walks into the headquarters of E-Mart Inc., South Korea`s largest discount store chain by sales, on June 5, 2018. (Yonhap)Earlier
IndustryJune 5, 2018
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Hyundai seeks breakthrough with Gwangju plant
Amid concerns of South Korea’s auto industry losing competitiveness due to high labor cost and low efficiency, Hyundai Motor and the Gwangju Metropolitan City Government have begun discussing a joint factory in Gwangju.Nine Hyundai working-level officials visited Gwangju earlier this week to inspect the site of the factory that is expected to complete construction by 2020. When built, it would create over 12,000 new jobs in the city, while lowering production cost for automakers by lowering wage
MobilityJune 5, 2018
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Chuncheon, Korail to launch one-stop reservation platform for tourists
Future visitors to the Chuncheon, Gangwon Province area will be able to enjoy an integrated tourism platform, jointly provided by the Chuncheon city government and Korail, starting next month. The comprehensive package will allow tourists to make reservations of both Gyeongchun line ITX passes, choose from various tourist attractions and pay all at once. In a response to the growing number of Koreans preferring self-planned trips, Chuncheon and Korail voiced hopes to lure more tourists to the ar
IndustryJune 5, 2018
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[Monitor] Disparity in private education spending widens
The amount of private tuition spent by the highest income group in South Korea is 27 times larger than those spent by the lowest income households, latest data by Statistics Korea showed.Private tuition spending by the fifth income quintile was 242,600 won on monthly average, compared to 8,925 won spent by the first quintile.An income quintile divides the population into five equal income groups. The first quintile refers to those with the lowest income, and the fifth, the highest.The agency poi
EconomyJune 5, 2018
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[Herald Interview] Cashnote streamlines card income management for retailers
The Korea Herald is publishing a series of interviews on promising startups in the financial technology industry. This is the 16th installment. - Ed.To retail shop owners occupied with day-to-day operations, managing card payments is an integral part of doing business, but at the same time, a time-consuming hassle.Vendors in South Korea, where there are a total of eight card companies in business, also face the same situation, particularly as cards have become the main means of payment.In 2017,
MarketJune 5, 2018
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Korea attracts $500m from Chinese investors in chips, bio, cars
Korea has attracted around $500 million of investment from Chinese investors in the areas of next-generation technologies, including chips, bio, automobiles and robots, through a ministerial roundtable, according to the Ministry of Trade, Industry and Energy on Tuesday. The ministerial roundtable was held in Beijing on Tuesday, inviting 12 Chinese investors, including chip firm JCET, bio companies Evercare and Fujian Ruico, automakers BAIC and Siasun Robot and content providers Spearhead and IIE
IndustryJune 5, 2018
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Yanolja is most popular hotel booking app among Koreans
Yanolja is the most popular mobile application for domestic hotel reservations among Koreans, according to Wiseapp, which analyzes the use of mobile applications. Among apps that provide services for domestic accommodation and flight reservations, the hotel booking app Yanolja ranked first, followed by the Yeogi-eottae and Hana Tour apps.Yanolja’s user base was estimated to be 1.02 million in April, a twofold increase from the previous year’s 570,000. Yanolja offers discounts for hotels and othe
IndustryJune 5, 2018
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Samsung’s first CIO David Eun to focus on new vision
Samsung Electronics recently appointed David Eun, president of Samsung NEXT, as the tech giant’s first chief innovation officer, according to the industry on Tuesday. The latest appointment and creation of the new position are seen by the industry as a sign of aggressive investments in startups and new businesses under the leadership of heir apparent Lee Jae-yong. Harvard graduate Eun joined Samsung in 2011 after working at Google. In late 2012, he was tapped to head Silicon Valley-based Samsung
TechnologyJune 5, 2018