Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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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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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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[Music in drama] Rekindle a love that slipped through your fingers
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Ex-pro baseball player who killed debtor appeals sentence
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Hopes rise for possible Gaza truce deal
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Samsung Electronics to pick new CEO this week
Samsung Electronics may pick a successor to its CEO and Vice Chairman Kwon Oh-hyun, as early as this week, after the top executive announced plans to retire, corporate sources said Sunday.Insiders familiar with the world’s largest computer chip and smartphone manufacturer said there could be a move to appoint a new chief to head the device salutation and display business area that Kwon is in charge of.The vice chairman announced on Oct. 13 that he plans to step down in early 2018. (Yonhap)“To ge
MobilityOct. 22, 2017
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Korea's economy to grow 2.8% in 2017: think tank
South Korea's economy is expected to grow 2.8 percent this year due to a weakening in business investment, a non-governmental think tank said Sunday.The Korea Economic Research Institute said it is lowering growth numbers for 2017 from the previous 2.9 percent, with its growth forecast for next year standing at 2.7 percent.The institute under the Federation of Korean Industries, the lobbying group for large businesses, said that while facility investment surged 15.9 percent in the first half, th
EconomyOct. 22, 2017
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[Ask a Lawyer] Korea’s unique regulations of gab-eul relationship
Q. What is the regulation of the gab-eul relationship?The regulation of the gab-eul relationship refers to the regulation of unfair trade practices performed by a more powerful party against the other party in a transaction between enterprises. For example, if a manufacturer commissions the manufacture and supply of parts to a part supplier and pays the price six months after receiving the supply of parts (case one), a seller unilaterally increases the sales price set forth in the contract with
IndustryOct. 22, 2017
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[Monitor] Income gap widening among professional jobs
Nearly 15 percent of professionals working as individual businesses made less than 2 million won ($1,765), or one-tenth of an average of income in these traditionally highly paid professions, suggesting growing competition in the professional market.While those in these professions, a total of 35,108, earned an average of 230.8 million won a year, 14.3 percent of the group made a monthly income of 2 million won or 24 million won a year, according to data provided by the National Tax Service requ
EconomyOct. 22, 2017
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[Exclusive] Samsung invests in Chinese AI chipset startup DeePhi Tech: sources
Memory chip giant Samsung Electronics has invested in a Chinese artificial intelligence technology developer as part of its efforts to catch up in the intensifying global race for AI platforms and devices, according to sources Sunday. In August, Samsung made a significant investment in DeePhi Tech, a Tsinghua-based startup with deep learning technologies, a source told The Korea Herald. “Samsung made quite a large investment in DeePhi Tech, which a group of Korean developers who met the startup’
TechnologyOct. 22, 2017
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SsangYong seeks plan B for China plant over THAAD woes
A plan by SsangYong Motor to build its first overseas plant in China could go back to square one due to growing anti-Korean sentiment in China over the Korean government’s decision to deploy an anti-missile system here, the company’s chief executive said Friday.At a meeting with Korean reporters, SsangYong President and CEO Choi Johng-sik said the plan that involves Shaanxi Automobile Group as a joint venture partner has been making slow progress since a diplomatic dispute between Seoul and Beij
MobilityOct. 22, 2017
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Samsung Electronics to seek successor to CEO Kwon Oh-hyun this week
Samsung Electronics Co. may pick a successor to its CEO and Vice Chairman Kwon Oh-hyun, as early as this week, after the top executive announced plans to retire, corporate sources said Sunday.Insiders familiar with the world's largest computer chip and smartphone manufacturer said there could be a move to appoint a new chief to head the device salutation and display business area that Kwon is in charge of.The vice chairman announced on Oct. 13 that he plans to step down in early 2018. Kwon Oh-hy
TechnologyOct. 22, 2017
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China denies THAAD retaliation against Korea: WTO report
Trade representatives of China denied the existence of trade-restrictive measures in tourism and distribution services against South Korean companies, despite the United States and Japan voicing support for Korea, a report by the World Trade Organization showed Sunday. According to the meeting minutes for a council meeting held in June by the Council for Trade in Services, the Korean government raised again the issue of China’s trade-restrictive measures seen as retaliatory actions against
EconomyOct. 22, 2017
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[News Focus] Naver faces growing calls to become more transparent news platform
Naver, which operates South Korea’s largest portal website, is facing growing calls to heighten transparency after it was found to have removed a negative news article upon request by the involved organization. Naver admitted on Friday that it had taken down a news article criticizing the actions of the K League from the main page of the portal’s sports tab in October 2016. The confirmation came after allegations were raised by a local media outlet.It is the first confirmed case of media meddlin
TechnologyOct. 22, 2017
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[Herald Interview] LOT Polish Airlines aims to bridge Korea, central Europe
Poland‘s flagship carrier celebrated the one-year anniversary of its Incheon-Warsaw direct route Thursday, with hopes to further increase the frequency of the flight and promote Central European destinations in the Korean market.“It is a very important route, not only from the tourist perspective but also because it provides business connectivity,” said LOT’s chief executive Rafal Milczarski during an interview with The Korea Herald. The Incheon-Warsaw flights serviced by LOT began on Oct. 18 la
IndustryOct. 22, 2017
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Cosmetics experts to discuss convergence, creativity at IFSCC forum
Cosmetics researchers from all over the world will gather in Seoul to discuss convergence and creativity in cosmetic science starting Monday.The 24th Conference of the International Federation of Societies of Cosmetic Chemists is set to take place from Monday to Wednesday at the Grand InterContinental Seoul Parnas under the theme of “Cosmetic Science: Beauty, Convergence and Creativity.”This is the second time that the conference, which began in 1960, will take place in Seoul.Researchers study c
IndustryOct. 22, 2017
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[Photo News] KT, WEF to leverage ICT for infectious disease control
ICT IN DISEASE CONTROL -- South Korean mobile carrier KT said Sunday that it has partnered with the World Economic Forum to leverage its internet and communication technologies to help the WEF’s project to fight the global spread of infectious diseases. World Economic Forum’s Executive Chairman Klaus Schwab (second from left) and KT Chairman Hwang Chang-gyu (second from right) shake hands after signing the partnership agreement at the WEF headquarters in Geneva on Friday. (KT)
TechnologyOct. 22, 2017
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Solar energy can better create jobs than atomic, coal-fired thermal power: KIET
Solar power can create more jobs than atomic and coal-fired energy generation, a state-run think tank said Sunday.In a report on solar power job creation in the fourth industrial revolution era, the Korea Institute for Industrial Economics and Trade said that while nuclear and conventional thermal power plants do not necessary lead to a meaningful rise in hiring, just $1 million invested in solar energy may lead to the creation of 15.7 new positions.It said the difference is due to the relativel
IndustryOct. 22, 2017
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Stock rally adds more to stock-rich list: data
The number of stock-rich persons with their stock holdings valued at 1 trillion won ($883 million) or more rose to the highest ever as the local stock market continued to renew its all-time highs on the back of sound corporate earnings and ample liquidity, industry data showed Sunday.According to industry tracker Chaebul.com, the number of persons with 1 trillion won or more worth of stocks stood at 27, up five from 22 at the end of last year.The country's benchmark index, the KOSPI, closed at a
MarketOct. 22, 2017
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Seoul to take fresh measures to curb household debt
South Korea is set to unveil another set of measures this week, the third of its kind, aimed at curbing rising household debts amid expectations that the central bank would raise its key rate in the coming months, industry sources said Sunday.The measures, due Tuesday, come as a rise in housing prices still does not show signs of abating despite a series of measures, including heightened financial regulations.Over the past few years, housing prices in South Korea have continued to rise on the ba
EconomyOct. 22, 2017
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Govt. buys 370,000 tons of rice to stabilize market price
The government has started to buy up 370,000 tons of rice harvested this year to stabilize domestic prices of the staple grain, the agriculture ministry said Sunday.It said regional governments have been notified of Seoul's plans to "isolate" rice this year and details related to the purchase.Besides the rice to be bought from growers for the purpose of keeping market prices at certain levels, the Ministry of Agriculture, Food and Rural Affairs said it will set aside another 350,000 to
EconomyOct. 22, 2017
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Govt. sets up committee to review policy goals
The government said Sunday it will set up a committee comprised of experts to review President Moon Jae-in's industrial technology-related state affairs and policy goals.Earlier, the Moon administration announced that finding new growth engines through the so-called fourth industrial revolution for the South Korean economy is one of its key policy objectives. Moon said the revolution will help create more jobs, develop cutting-edge technologies and eventually serve as a catalyst for the economy.
EconomyOct. 22, 2017
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Sales of luxury cars in Korea exceed those of richer countries: data
Sales of luxury cars in South Korea exceed those of richer countries, industry data showed Sunday.Numbers provided by foreign carmakers and the Korea Automobile Importers and Distributors Association showed South Koreans bought more new BMW 5-series and Mercedes-Benz E-class cars than Germans and neighbors in Japan from late last year to early 2017.Data also showed demand for top-of-the-line Mercedes-Benz S-class and those made by Rolls-Royce with price tags in the hundreds of millions of won ra
MobilityOct. 22, 2017
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Korea's 5G market to reach W35tr in 2025
The market of fifth-generation network services in South Korea will reach some 35 trillion won ($31 billion) in 2025, as the faster network technology is anticipated to be used in many areas from mobile phone networks to smart homes and connected cars, industry data showed Sunday.According to the data compiled by Digieco, a research center run by South Korea's mobile carrier KT Corp., the country's 5G network technology market is expected to hit 3.1 trillion won in 2020 but swell to 34.7 trillio
TechnologyOct. 22, 2017
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Bourse operator to decide on Daewoo Shipuilding stock trading this week
South Korea's bourse operator is set to decide this week on whether to allow the resumption of trading of Daewoo Shipbuilding & Marine Engineering Co. on the local stock market, industry sources said Sunday.The trading of Daewoo Shipbuilding stocks have been halted since July last year, due to its impaired capital base, and the shipyard was given a one-year rehabilitation period to improve its financial status for the resumption of stock trading.According to the sources, the Korea Exchange w
MarketOct. 22, 2017