Most Popular
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Debate rages over ‘overly fatty’ samgyeopsal
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40 flights canceled on Jeju Island due to bad weather
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[Weekender] Korean psyche untangled: Musok
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Pandemic left Korea more depressed than before: report
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Gov't appears to shelve punitive measures against mass walkout by doctors
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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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Missing S. Korean traveler in Paris found safe after 2 weeks
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Kumho Petrochemical sues US over anti-dumping duties
South Korean chemicals maker Kumho Petrochemical Co. has filed a lawsuit against the US government over the imposition of high anti-dumping duties on its synthetic rubber product, industry sources said Monday.In July, the US Department of Commerce slapped anti-dumping duties of 44.3 percent on emulsion styrene butadiene rubber produced by South Korea's Kumho Petrochemical and POSCO Daewoo, and 9.66 percent on products by LG Chem Ltd. and other companies.The International Trade Commission later r
IndustryDec. 11, 2017
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Foreigners keep buying Korean stocks in Nov.
Foreign investors continued their net buying of South Korean stocks in November, with the amount reaching nearly 2 trillion won ($1.8 billion), the financial regulator said Monday.Offshore investors bought a net 1.86 trillion won last month, marking the second consecutive month of net buying, according to the Financial Supervisory Service.Net purchases by investors from the United Arab Emirates, the United States and Norway reached 1 trillion won, 900 billion won and 500 billion won, respectivel
MarketDec. 11, 2017
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KHNP seeks to lead nuclear decommissioning industry
The Korea Hydro & Nuclear Power, the nation‘s nuclear reactors operator, plans to ramp up efforts to develop technologies related to nuclear decommissioning, to lead the market here and abroad, the company said Sunday. The announcement was delivered at a launching ceremony of a consultative body on reactor decommission held Friday amid Moon Jae-in government‘s drive on decreasing the nation‘s reliance on nuclear energy. Taking the state drive as well as changing policies around the world toward
IndustryDec. 10, 2017
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Korea to strengthen oversight of financial groups
South Korea will strengthen oversight of local financial groups as part of its effort to better check the sector, the state regulator said Sunday.The Financial Services Commission said it will set a so-called financial group innovation body that will begin work on Monday. The special body will be made up of two teams that will be tasked with monitoring such matters as ownership structure risks, capital adequacy, internal trading bans and emergency contingency plans.The newly formed entity, which
EconomyDec. 10, 2017
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Exchange rate to be key to Korean carmakers' competitiveness
Amid a tighter global market and steeper competition between South Korean and Japanese automakers, Japan’s quantitative easing as part of Japanese Prime Minister Shinzo Abe‘s “Abenomics,” will be key to Korean players’ competitiveness next year, industry experts have said.“Korean carmakers compete with Japanese companies, which means the exchange rate will continue to play an important factor in price competitiveness,” Lee Bo-sung, director of Hyundai’s Global Business Intelligence Center said d
MobilityDec. 10, 2017
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S. Korea to grow 3.1% this year on solid global economic expansion: HRI
South Korea's economy is expected to expand 3.1 percent this year on the back of solid worldwide growth, a local think tank said Sunday.The forecast marks a 0.4 percentage-point increase from estimates made two months earlier, Hyundai Research Institute said.The leading private think tank said it has marked up growth forecasts for 2018 by 0.3 percentage point to 2.8 percent."Growth is being fueled by a general economic recovery taking place all over the world," HRI said. It said expect
EconomyDec. 10, 2017
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[Kosdaq Star] Seoul Semiconductor unfazed by IT sell-offs
This is the 46th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- Ed.A tax cut in the US and the strong Korean won has negatively affected a tech rally on South Korean stock markets in the past couple of weeks. The Kosdaq-listed light-emitting diode maker Seoul Semiconductor was no exception, as its share price hit a record 33,550 won on Nov. 27, but backtracked to 28,250 won on Friday, falling 13.1 percent over the past two weeks.But some analysts pai
MarketDec. 10, 2017
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Korea's household debt-to-GDP rises 2nd-fastest: BIS
South Korea’s household debt-to-gross domestic product increased at the second-fastest rate in the world on-year as of first half of this year, reports said Sunday, quoting data from Bank for International Settlement. According to survey of 43 countries conducted by BIS, Korea‘s ratio of total household credit-to-GDP came to 93.8 percent as of the second quarter of 2017, up 4.3 percentage points year-on-year. The data by Basel-based financial institution was released on Dec. 3.T
MarketDec. 10, 2017
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[Photo News] Samsung SDI steps up community service
KIMCHI FOR YOU -- Samsung SDI’s foreign staff pose with kimchi made during a company event on Wednesday at its Suwon office as part of a monthlong kimchi-making event participated in by 600 employees at the battery maker. The kimchi, made of 6,600 heads of napa cabbage, was sent to rehabilitation centers for the disabled and orphanages near the company’s offices in Giheung and Suwon in Gyeonggi Province, Ulsan, Gumi, North Gyeongsang Province, Cheonan, South Chungcheong Province, and Chungju, No
IndustryDec. 10, 2017
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52-hour workweek to cost businesses 2.3 tln won in extra expenses: KERI
South Korean businesses will have to spend more than 12 trillion won ($10.9 billion) annually in additional payments, and be compelled to train more employees if the government imposes a weekly 52-working hour limit, a report said Sunday. The Moon Jae-in administration is pushing ahead with a revision to the Labor Standards Act, pending approval by the National Assembly, limiting the maximum working hours as a means to implement the chief executive's election pledge to create over 800,000 new jo
IndustryDec. 10, 2017
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Foreign investors sold 2.12 tln won worth of KOSPI shares in 2 weeks
Foreign investors offloaded 2.12 trillion won ($1.93 billion) worth of shares traded on South Korea's main bourse in the last two weeks, the Korea Exchange said Sunday.The stock market operator said foreigners sold off many more shares than they bought in the 10 trading days starting from Nov.27 through Friday. The selling of shares on the Korea Composite Stock Price Index outpaced the buying of 1.72 trillion won worth of stocks by local institutional investors.In the past two weeks, foreign inv
MarketDec. 10, 2017
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LG develops LTE-based safety technology for self-driving cars
LG Electronics said Sunday it has succeeded in demonstrating safety technologies for autonomous driving using its long-term evolution-based vehicle-to-everything technologies. The LTE-based V2X safety technology was recently demonstrated on public roads in Gwacheon city, the tech firm said. LTE V2X is a technology that aims to make the traffic environment safer and more convenient by connecting vehicles to vehicles, vehicles to infrastructure and vehicles to pedestrians through LTE network. The
IndustryDec. 10, 2017
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Samsung's new CEOs to discuss global strategy this week
Samsung Electronics is slated to hold its global strategy meeting starting from this week to share next year’s goals and strategies under the newly appointed chief executives, according to multiple sources on Sunday. The firm’s consumer electronics and mobile units will be chaired by new chiefs Kim Hyun-suk and Koh Dong-jin respectively from Wednesday to Friday in its headquarters located in Suwon. The chip unit’s meeting will be presided by its new leader Kim Ki-nam in its Giheung office on Dec
IndustryDec. 10, 2017
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[K-Style Trailblazers] Projekt Produkt takes Korean eyewear fashion to Europe and beyond
The Korea Herald is publishing a series of interviews with CEOs of small but aspiring brands that are taking Korean fashion and beauty overseas through online retailers. This is the second installment. -- Ed.The first flagship store for eyewear brand Projekt Produkt blends naturally into the upscale Apgujeong district in Gangnam-gu, Seoul. The angular gray concrete building is plated with glass windows along its bottom floor, where Projekt Produkt’s sleek, colorful offerings sit on glass stands
IndustryDec. 10, 2017
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Novartis Korea under tax probe as corruption scandal trial continues
South Korea’s tax authorities have launched an investigation into Novartis Korea in what industry watchers speculate may be linked to the company’s corruption scandal that broke out last year, marking the latest event to place a negative spotlight on the Swiss pharmaceutical giant.Last week the National Tax Service began a tax probe into Novartis Korea, zeroing in on the company’s spending records. It did not clarify the purpose of the investigation at the time.Though Novartis Korea claims it is
IndustryDec. 10, 2017
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Foodie camera app tops Korea’s 2017 Google Play App Awards
Foodie, the mobile camera app created by Snow Corp., a subsidiary of Naver, was awarded Best App of the Year by Google Play in South Korea, Google Korea said. Foodie is a camera app equipped with more than 30 filters designed for taking better pictures of food. Since its launch in February 2016, the app has racked up more than 10 million downloads on the Google Play app store.Best Game of the Year went to “Lineage II: Revolution,” the hit mobile role-playing game developed by Seoul-based Netmarb
TechnologyDec. 10, 2017
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[Photo News] ‘Battlegrounds’ named ‘Best Multiplayer Game’ in US
BEST MULTIPLAYER GAME -- "PlayerUnknown's Battlegrounds," the hit survivor shooter game developed by PUBG, a subsidiary of Korea's Bluehole Studio, was named Best Multiplayer Game at The Game Awards held in Los Angeles last week. As of early December, "Battlegrounds" had sold more than 24 million copies via online game platform Steam and achieved more than 3.04 million concurrent players, breaking Steam records, according to Bluehole Studio. Pictured are PUBG's CEO Kim Chang-han (left) and Creat
IndustryDec. 10, 2017
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Autos, IoT to lead semiconductor growth going forward: report
Autos and Internet of Things will lead growth in the semiconductor market going forward, a report by a global industry tracker said Sunday.According to IC Insights Inc., new growth engines will fuel advances in the computer chip market as demand for them in mobile phones remains a solid pillar for the industry that has witnessed a surge in growth in recent years. It said the global semiconductors will continue to grow for the foreseeable future.The chip market researcher claimed semiconductors u
IndustryDec. 10, 2017
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Samsung Pay expanding into mobile banking service
Samsung Electronics Co.'s mobile payment system is moving to expand into the banking sector to offer more diverse services to users, the South Korean tech giant said Sunday.The company said that starting Thursday, the payment system installed on some of its newer smartphones can be used to carry out transactions at some local banks.Under the upgrade, the 9 million domestic users of Samsung Pay, who can now use their phones like cash or credit cards, as well as at ATMs, will be able to withdraw o
IndustryDec. 10, 2017
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Korea maintains second-largest coal subsidies in world: report
South Korea maintains the second-largest coal subsidies in the world, as other countries move to cut state support for such energy programs, a report by an autonomous intergovernmental organization said Sunday.The latest findings released in the 2017 World Energy Outlook by the Paris-based International Energy Agency showed Seoul spent $150 million to subsidize the coal sector in 2016.Energy-related subsidies are paid by the state to producers and consumers to bolster industries and make energy
EconomyDec. 10, 2017