Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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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 to more than double military drones by 2026 to counter NK threats
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Seoul alerts overseas missions to NK terror 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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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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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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Lotte Hotel Yangon to be open on commissioned operation by Lotte resorts affiliate
Lotte Hotel Yangon, to be operated on commission by Lotte Hotel & Resorts, will open later this week as the company's eighth overseas chain, officials said Sunday.South Korean retail giant Lotte will manage the new hotel for 20 years in contract with Daewoo Amara, in what will be the first five-star accommodation facility it operates on commission outside of the country. The resorts firm has a similar arrangement for Lotte City Hotel Tashkent in Uzbekistan, which is a business hotel class. Ima
IndustryAug. 27, 2017
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Regulator to begin inspection of securities firms aspiring to become IBs
The financial regulator will conduct inspections this week of five leading securities firms that want to start investment banking business, focusing on how well they can manage their electronic system for issuing promissory notes, officials said Sunday.The Financial Supervisory Service will look into the business plan, personnel structure and IT management of Mirae Asset Daewoo, NH Investment & Securities Co., KB Securities Co., Samsung Securities Co. and Korea Investment & Securities Co
EconomyAug. 27, 2017
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Korean regional airport hit hardest by THAAD row
CHEONGJU -- A South Korea's regional airport heavily dependent on Chinese tourists is facing tough times after being hit hard by Seoul's diplomatic row with Beijing over the deployment of an anti-missile system, industry sources said Sunday. The Cheongju International Airport, which used to have nine out of 10 international passengers coming from its China routes, has not seen flights to major Chinese cities since March when Beijing banned the sale of group travel packages to South Korea in reta
IndustryAug. 27, 2017
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Moody's Analytics expects BOK to hold policy rate steady in August
South Korea's central bank is likely to hold its key rates steady this month as soft economic growth and subdued inflation will allow it to sit on the sidelines, a leading provider of economic analysis said Sunday.The Bank of Korea is set to hold its rate-review session Thursday to decide whether to keep or adjust the all-time low rate of 1.25 percent."Further interest rate cuts are firmly off the cards despite below-potential growth," Moody's Analytics said in an economic preview, not
EconomyAug. 27, 2017
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All eyes on Jackson Hole outcome, export data next week: analysts
South Korean shares may fall to around the 2,360 level next week as the customs office is widely expected to release weakening export data, with all eyes on the outcome of the Jackson Hole meeting, market watchers said Saturday.On Friday, the benchmark Korea Composite Stock Price Index edged up 2.67 points, or 0.11 percent, at 2,378.51. It was up 0.9 percent from a week earlier.This week, the KOSPI index traded in a tight range as investors remained cautious awaiting cues from the US Federal Res
MarketAug. 27, 2017
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Employment rate of 30-something women hits record high in H1
The employment rate of South Korean women in their 30s hit a record high in the first half of this year, data showed Saturday, as the government has taken a series of measures to bring stay-at-home moms back to work.Statistics Korea said the employment rate of women in their 30s stood at 59.2 percent, the highest half-year figure since 1999 when the statistics office began compiling relevant data. The employment rate of women in their 30s has been on the rise in recent years as women delay marri
EconomyAug. 27, 2017
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Korean shipyards still struggle to cut costs amid 'order drought'
South Korean shipyards, led by Hyundai Heavy Industries Co., are still struggling to cut costs through unpaid leave for their workers and shutting down dry docks idled amid a lack of orders, industry sources said Sunday.For decades, the shipbuilding sector has been one of the key growth drivers for Asia's fourth-largest economy. South Korea is home to Hyundai Heavy and two other top ranked shipyards -- Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co.But they suffered
IndustryAug. 27, 2017
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Mobile phone displays to overtake TV screens in 2017: market trackers
The worldwide market for mobile phone displays is expected to overtake that of TVs screens for the first time ever this year, brought on by the change in consumer demand, industry trackers said Sunday.According to IHS Markit, growth of mobile panels averaged 17 percent annually in the past seven years, effectively bridging the gap with TV screens that have traditionally led the market. The US-based information and solutions provider said while mobile phone-related displays have surged forward, s
TechnologyAug. 27, 2017
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Cold medication prices to increase by up to 14%
Drugmakers in Korea have decided to hike prices of cold medications due to increases in manufacturing costs.South Korean drugmaker Dong-A Pharmaceutical has said it will hike the supply price of its flagship over-the-counter cough and cold medication Panpyrin Q by 10 percent, starting from Sept. 1. Local drug stores are expected to increase their retail prices for the product accordingly. A box of five 20-milliliter Panapyrin Q bottles is currently sold at between 2,000 won ($1.80) and 2,200 won
IndustryAug. 25, 2017
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S-Oil to import 700,000 tons of LNG per year from Malaysia
South Korean refiner S-Oil signed a 15-year liquefied natural gas supply contract with Malaysia’s Petronas, the company said Friday. Under the contract, S-Oil will start importing 700,000 tons of LNG per year from April 2018 to April 2033. S-Oil CEO Othman Al-Ghamdi (third from left) poses with Petronas Upstream CEO Datuk Anuar Taib (third from right) at the signing of a supply contract Thursday at the Petronas headquarters in Kuala Lumpur, Malaysia. (S-Oil)“With the latest deal, the company has
IndustryAug. 25, 2017
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[Eye] ‘World without displays is unimaginable’
In today’s world, people spend quite a huge chunk of their days staring at screens. Some 3.8 billion people in the world use smartphones to search the internet, watch movies and take photos. Nearly half of global households have computers and televisions, according to IHS Markit and the International Telecommunication Union.“Can you imagine the world without displays?” said Jang Jin, a professor at Kyung Hee University’s department of information display, in an interview with The Korea Herald. D
IndustryAug. 25, 2017
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Samsung Electronics stumbles on Lee’s verdict
With Samsung Electronics Vice Chairman Lee Jae-yong sentenced to five years behind bars Friday for bribery, embezzlement and flight of capital, Samsung Electronics shares dropped over 1 percent.Samsung Electronics closed at 2,351,000 won ($2,080), down 1.05 percent compared to Thursday’s close. Samsung C&T, the de facto holding company of the group and one of the focal points of the corruption scandal, shed 1.48 percent.Meanwhile, other listed Samsung affiliates saw gains. Samsung Engi
MarketAug. 25, 2017
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Samsung in shock upon Lee’s jail sentence
The five-year jail sentence of Samsung’s de facto leader Friday drove the world’s largest producer of smartphones and chips into a deeper quagmire, as Samsung Electronics Vice Chairman Lee Jae-yong was found guilty of all five charges over his involvement in the corruption scandal that led to the impeachment of the nation’s former president.The court acknowledged a special counsel’s accusation that Lee and other executives were aware of President Park Geun-hye’s close relationship with her frien
IndustryAug. 25, 2017
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Finance ministry eyes 3% economic growth
The finance ministry said Friday that it will put policy priority on restructuring state coffers and strengthening innovative momentum to pull off 3 percent economic growth going forward.Finance Minister Kim Dong-yeon held a policy briefing before President Moon Jae-in in Sejong, an administrative city some 130 kilometers south of Seoul, along with heads of the Fair Trade Commission and the Financial Services Commission."The ministry will expand the South Korean economy's capacity to grow 3
MarketAug. 25, 2017
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Discount chains suspend sales of sausages, ham made from European pork
South Korea's three leading hypermarket chains said Friday they have discontinued sales of sausages and ham products made from German and Dutch pork that have been embroiled in an infection scandal.There have been allegations that products made of pork from the two countries may have infected British shoppers with the hepatitis E virus, which can cause fever, reduced appetite and nausea, according to media reports. "We do not sell sausages imported from Germany or the Netherlands but had produc
IndustryAug. 25, 2017
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Consumer sentiment falls in August on N. Korea's nuclear crisis
South Korea's key consumer sentiment index fell slightly in August from a month earlier due mainly to heightened tensions between North Korea and the United States, a central bank survey showed Friday.The composite consumer sentiment index for August came to 109.9, down from 111.2 a month earlier, according to the survey by the Bank of Korea. A reading above 100 means optimists outnumber pessimists.Tensions have spiked on the Korean Peninsula as North Korea and the United States exchanged bellic
EconomyAug. 25, 2017
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Samsung Bioepis gets nod for biosimilar drug in Europe
South Korean biopharmaceutical firm Samsung Bioepis Co. said Friday it has won approval from European authorities for the sale of its biosimilar drug Imraldi.The European Commission accepted Samsung Bioepis' application to sell the biosimilar referencing AbbVie Inc.'s Humira, the company said in a regulatory filing. The drug treats various diseases such as rheumatoid arthritis, juvenile idiopathic arthritis, and Crohn’s disease.With the approval, Imraldi can be sold in 28 EU member states as wel
TechnologyAug. 25, 2017
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Daewoo Shipbuilding wins 215 bln-won contract for submarine parts
Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, said Friday that it has won a 215 billion-won ($191 million) deal to supply key parts for a submarine built by its local rival Hyundai Heavy Industries Co.Under the deal with Hyundai Heavy, Daewoo Shipbuilding will deliver the parts to its rival by 2021, it said.Hyundai Heavy is constructing the third 3,000-ton submarine as part of the Chang Bogo-III project in a deal with the Defense Acquisition Program Administration, the cou
IndustryAug. 25, 2017
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Anti-smoking campaign lacking results despite big budget spending
The government's anti-smoking campaign, funded partly by increased revenue from a cigarette price hike, has not been effective, officials said Friday.Monthly cigarette sales in January 2015, when the price of cigarettes was raised 80 percent from 2,500 won ($2.21) to 4,500 won, were 295 million packs. Currently, monthly sales are close to300 million packs, according to the Ministry of Health and Welfare and the National Assembly Budget Office.Part of the revenue from the hike cigarette price was
EconomyAug. 25, 2017
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Samsung Electronics starts preorders for Galaxy Note 8
Samsung Electronics Co. on Friday kicked off preorders for the Galaxy Note 8 in a handful of countries, including the United States and Britain, ahead of the official release slated for Sept. 15.According to industry sources, the 64 gigabyte model of the Galaxy Note 8 is being sold for $929 in the US Including taxes, the price is expected to hover above $1,000. The device was selling for a higher price range in Canada and Australia.Preorders in South Korea are expected to begin Sept. 7. (Yonhap)
TechnologyAug. 25, 2017