Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Foreigners' duty-free shopping record-high in Nov.
Foreigners' local duty-free shopping hit a monthly record-high last month, data showed Tuesday.Statistics provided by the Korean Duty Free Association said foreign shoppers purchased a combined $983 million worth of goods at duty-free stores in November.(Yonhap)A total of 1.31 million foreigners visited the local duty free shops in November, up 7.9 percent from a month earlier, the data showed.Sales at South Korean duty-free stores reached $1.22 billion in November, a 9.7 percent jump from the p
IndustryDec. 26, 2017
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Hyundai Heavy seeks to raise 1.3 tln won in rights issue
South Korea's top shipbuilder Hyundai Heavy Industries Co. said Tuesday that it plans to issue shares worth 1.3 trillion won (US$1.21 billion) to improve its financial health as its holding company is pushing for an initial public offering (IPO) of Hyundai Oilbank Co.Hyundai Heavy said in a regulatory filing that it is seeking to complete the sale of 12.5 million shares by March. It said some 869 billion won among the planned share sale will be used for operating funds. (Yonhap)It said that its
IndustryDec. 26, 2017
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[K-Style Trailblazers] Haesoo.L soars on celebrity marketing
The Korea Herald is publishing a series of interviews with the CEOs of small but aspiring brands that are taking Korean fashion and beauty overseas through online retailers. This is the fourth and final installment. -- Ed.In Korea, there‘s no marketing quite like star marketing.That was the idea that Lee Ju-min, CEO of silver jewelry brand Haesoo.L, seized upon when he launched his brand.“I can say with some confidence that we provide most of the earrings worn by actresses on Korean dramas,” Lee
IndustryDec. 26, 2017
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LG upgrades V30 OS to Android 8.0 Oreo
LG Electronics said Tuesday that it is updating the operating system on its premium smartphone V30 to the Android 8.0 Oreo system, becoming the first Korean manufacturer to upgrade to Oreo.Since Nov. 27, LG has been running a LG OS Preview program allowing V30 users to try the Oreo OS on their devices and provide feedback on how existing apps could be optimized for the new system. LG V30 upgrades to Android 8.0 Oreo (LG Electronics)The latest OS from Android includes features that boost speed an
IndustryDec. 26, 2017
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LG Chem to invest W300b in petrochemical facilities
LG Chem will invest a total of 300 billion won ($278.6 million) to expand its petrochemical facilities in Yeosu, South Jeolla Province, the company said Tuesday.With the investment, the company plans to increase the annual production capacities of crude acrylic acid and super absorbent polymer by 180,000 tons and 100,000 tons, respectively. (LG Chem)CAA is used to produce acrylates and other derivatives used in paint, paper, textile, adhesives, specialty coatings. SAP is mainly used in disposab
IndustryDec. 26, 2017
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Money traded on Kosdaq hits record in 2017
The value of shares traded on South Korea’s second-tier stock market Kosdaq in 2017 hit an all-time high as of Friday, riding the momentum of biotech shares and heightening volatility of shares linked to the cryptocurrency industry since November, data showed Tuesday. From Jan. 2, 2017 to Friday, investors traded stocks worth 876.3 trillion won ($813.9 billion) in total, beating the previous record of 873.8 trillion won in 2015, according to data from the market operator Korea Exchange. On
MarketDec. 26, 2017
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Korea to invest W3.1tr to support next-generation industries
The South Korean government said Tuesday that it will inject 3.2 trillion won ($2.9 billion) into research and development in the next year to boost growth of next-generation industries.Despite the ambitious cause, the size of the Ministry of Trade, Industry and Energy’s R&D investment has been decreasing over the past several years, falling to 3.158 trillion won for 2018, down 1.3 percent from 3.338 trillion won this year. (Yonhap)But by category, the ministry‘s investments in five next-genera
IndustryDec. 26, 2017
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LG Display’s OLED plant in China approved by government
LG Display’s plan to build an organic light-emitting diode plant in China was conditionally approved by the South Korean government after a five-month-long review, giving the green light to the firm amid growing demand for OLED TVs in the global market.The Ministry of Trade, Industry and Energy said Tuesday it approved LG Display’s OLED plant for televisions in Guangzhou, considering its positive ramifications, including market expansion and job creation at LG Display’s partner companies. The ap
IndustryDec. 26, 2017
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[Photo News] Massive Move-in
Final-stage works are being done at Raemian brand apartments in Seocho district, Seoul, Tuesday. Residents will start to move in from January next year. According to local market research company Real Estate 114, a total of 43,066 households will move in, a record high for the month of January. Throughout next year, some 440,000 households are expected to settle into new apartments, surpassing a record-high figure marked in 1990s when five new metropolitan towns opened, the report added. (Yonhap
IndustryDec. 26, 2017
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Korean biopharma firms see mixed results in drug licensing
South Korea’s biopharmaceutical companies have had a mixed licensing record this year, with some striking major license-out deals and others losing their contracts over reporting issues related to clinical trials. Last week, HanAll BioPharma — an affiliate of Seoul-based Daewoong Pharmaceutical — and Genexine both sealed licensing deals for their drug candidates with foreign pharma firms, raising market expectations for the two Korean drugmakers.HanAll Biopharma has licensed out the development
IndustryDec. 26, 2017
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Korea panel approves LG Display's factory plan in China
A government panel on Tuesday greenlighted LG Display Co.'s 5 trillion-won ($4.4 billion) project to build its first large organic light-emitting diode plant in China.The panel under the Ministry of Trade, Industry and Energy had been reviewing the plan since July when LG Display asked the government to approve its investment in the southern Chinese city of Guangzhou.The panel gave the condition that LG Display must increase the localization of its equipment and its investment at home. A model s
IndustryDec. 26, 2017
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LG distributes AI development tool to all divisions to speed up growth
LG Electronics Inc. said Tuesday it has distributed its artificial intelligence development tool to all business divisions in line with its efforts to speed up the release of new products equipped with the latest technology.The South Korean tech giant said the development platform, dubbed DeepThinQ 1.0, will help researchers easily apply deep-learning technologies to electronics products. The announcement came a week after the company introduced the new AI brand named ThinQ, which will be used i
TechnologyDec. 26, 2017
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Govt., steelmakers discuss ways to tackle US trade protectionism
South Korea's trade ministry and local steelmakers have discussed ways to cope with the United States' growing trade protectionism including adjusting steel exports, officials said Monday.The ministry held a meeting with trade experts and local steelmakers, including top player POSCO and its rival Hyundai Steel Co., on Thursday to discuss how to tackle Washington's move to restrict the imports of South Korean steel products.Some experts proposed the need for local companies to reduce steel expor
EconomyDec. 26, 2017
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[From the scene] At T2, speed and efficiency are key
Tile floors gleam and sunlight streams in overhead through the glass-paneled ceiling at the second passenger terminal of Incheon Airport, which is in the last stages of preparation to open to the public on Jan. 18.The terminal represents the culmination of a nine-year project worth 5 trillion won ($4.63 billion).The first thing that catches the eye is the ceiling, about 5 meters taller than that of the first terminal. The high ceiling is one of the ways in which the second terminal has tried to
IndustryDec. 25, 2017
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Bad weather affects 1,400 flights at Incheon Airport over Christmas holiday
Heavy fog in the west coast of Gyeonggi Province and other inland parts of Korea on Saturday and Sunday led to a massive volume of flight cancellations and delays at Incheon Airport, causing a three-day chain effect lasting to Christmas Day. The fog is now gone, but the impact is still reverberating at the country’s biggest airport. According to airport authorities, on Monday, 280 flights were delayed due to rescheduling and two were canceled due to a lack of reservations, as of 1 p.m. Incheon A
IndustryDec. 25, 2017
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[Monitor] S. Korea’s quarterly growth rate third-highest in G-20
South Korea’s quarterly growth rate of gross domestic product in volume grew 1.5 percent in the third quarter of the year, according to data compiled by the Organization for Economic Cooperation and Development.The country’s growth rate between July and September was the third-highest on-quarter increase among G-20 countries, after China and India. China’s GDP in volume grew 1.7 percent, while India saw 1.6 percent of growth in the same period.
EconomyDec. 25, 2017
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Users look for emotional aspects when using AI: report
South Korean customers expect emotional responses from artificial intelligence programs more than technological benefits, a survey showed Monday. (Innocean Worldwide)Innocean Worldwide, an advertising agency under Hyundai Motor Group, analyzed some 480,000 AI-related keywords online. Its big data analysis team found that customers sought more for interaction and understanding from artificial intelligence, considering them friends and assistants.Related keywords when sharing experiences with AI
TechnologyDec. 25, 2017
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Hyundai Engineering to start sales of Hillstate apartments in Gumi
Hyundai Engineering will start sales of its new Hillstate brand apartments in Songjeong, Gumi, the company said Monday. Lot sales will start in January next year, and residents will be able to move in around May 2020, according to the company’s officials. The complex consists of seven apartment buildings as high as 20 stories. It will hold 526 households, mostly small or medium-sized, the company added An artist’s drawing of the Hillstate apartment complex in Songjeong, Gumi, North Gyeongsang Pr
IndustryDec. 25, 2017
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Economic recovery without wage hikes picked among top 10 trends next year
Economic recovery without a wage increase has been picked as one of top 10 global trends next year, a local think tank said Monday. In the 2018 Global 10 Trends report, the Hyundai Research Institute (HRI) said an economic recovery without wage hikes is widely expected globally as employers in advanced countries prefer hiring low-paying temporary workers to regular employees. The research institute expected the number of low-paying jobs in the food and housing industry will increase but that of
EconomyDec. 25, 2017
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LG, Samsung rev up connected car business
LG Electronics said Monday it had won safety certification for self-driving components by Germany-based testing service provider for quality and safety, TUV Rheinland, signaling the tech firm moving further into the automobile industry. LG said it received safety certification for advanced driver assistance and infotainment systems and vehicle display, to meet growing demand for the safety of self-driving vehicles. This is the second time the Korean tech firm has received safety certification re
TechnologyDec. 25, 2017