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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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul to more than double military drones by 2026 to counter NK threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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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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‘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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Listed firms' rights issues jump 21.4% in 2016
South Korean listed companies' rights issues soared 21.4 percent in 2016 from a year earlier with firms on the main bourse taking up the lion's share, data showed Monday.A total of 276 companies listed on the main KOSPI market and secondary KOSDAQ bourse raised a combined 12.6 trillion won ($11.2 billion) through rights offerings last year, compared with 10.4 trillion won a year earlier, according to the data by the Korea Exchange. (Yonhap)Rights offerings by 199 KOSDAQ firms spiked 68.1 percent
March 27, 2017
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Prosecutors question senior CJ executive over compromising videos of Samsung chairman
Prosecutors have recently questioned a senior CJ Group executive as part of a probe into whether the conglomerate was involved in the recording of compromising videos of Samsung Electronics Chairman Lee Kun-hee, a prosecution source said Sunday. The videos leaked to the media in July 2016 indicated Lee bought sex five times between December 2011 and June 2013 at his homes in southern Seoul. CJ, run by Lee‘s relatives, was part of Samsung before it broke off in 1993. At the time of the recording
IndustryMarch 26, 2017
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Blizzard to release remastered ‘Starcraft’ this summer
Blizzard Entertainment on Sunday said it would release “StarCraft: Remastered,” a high-definition remake of its megahit PC strategy game Starcraft, this summer.As its title suggests, the upcoming edition will feature 4K ultrahigh-definition graphics and a refreshed soundtrack, while preserving the original gameplay of Starcraft. It will include the classic Starcraft game as well as the Brood War expansion pack, the US game giant said.Blizzard Entertainment co-founder and CEO Mike Morhaime announ
TechnologyMarch 26, 2017
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Hanwha Group supports Asian startups at BOAO
Hanwha Group hosted a roundtable discussion on the future of Asian startups to better create a business environment for budding enterprises in the region, on the sidelines of the annual BOAO Forum, officials said Sunday.Titled “From ‘Made in Asia to ‘Created in Asia,’” the South Korean conglomerate invited 20 startups from China, Japan, South Korea, India and Thailand, with Hanwha Chairman Kim Seung-youn’s second son, Kim Dong-won, managing director of Hanwha Life Insurance attending. The 32-yea
IndustryMarch 26, 2017
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Seoul Motor Show to unveil world premieres, highlight green cars
While the Seoul Motor Show is yet to reach the grandeur of other motor events, such as Auto Shanghai or the Tokyo Motor Show, this year’s event is set to capture audiences with two world premieres and an emphasis on environmentally-friendly vehicles, according to industry insiders.Hyundai Motor’s Grandeur IG HEV and SsangYong Motor’s premium SUV -- tentatively codenamed the Y400 -- will be making their world debut at the upcoming biennial exhibition, which will be held March 31 to April 9 at the
MobilityMarch 26, 2017
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NPS at crossroads over Daewoo Shipbuilding rescue plan
Amid questions being raised over its political neutrality, the National Pension Service is again standing at a crossroads that could determine a company’s fate – this time troubled shipbuilder Daewoo Shipbuilding & Marine Engineering. In the coming weeks, the state pension fund will have to decide on a debt restructuring plan for DSME proposed Thursday by the Financial Services Commission and the firm’s main creditors -- Korea Development Bank and The Export-Import Bank of Korea. The main credit
IndustryMarch 26, 2017
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[From the Scene] Rolling out 50,000 G6s daily, LG puts safety first
A 9.1 kilogram weight drops 61 meters onto a battery placed on an iron rod. When the weight hits with a dull thud, the battery is crushed but doesn't catch fire or explode. Various battery and smartphone tests are carried out at 640,000-square-meter LG Digital Park, workplace for around 10,000 employees manufacturing the company’s products from smartphones to home appliances and auto components.“We are testing the quality of the G6 more rigorously, as consumers’ concern about safety is on the ri
TechnologyMarch 26, 2017
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[Health-tech Korea] Welt smart belt monitors wearers’ health without intrusion
The Korea Herald is publishing a series of articles highlighting South Korea’s promising start-ups in the emerging sectors of digital health care and next-generation medical devices. This is the sixth installment. – Ed.When it comes to wearables, the immediate image that comes to mind is usually a smartwatch or a fitness tracking band worn on the wrist by an early adopter of new technology. Looking to overturn this image, a South Korean startup spun off from Samsung’s in-house venture program Cr
TechnologyMarch 26, 2017
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Korea to lend rare minerals to local businesses
South Korea's industry ministry said Sunday it will launch a program to lend rare minerals to key businesses, including chipmakers, in case of unexpected supply shortages.The Ministry of Trade, Industry and Energy said it has completed securing reserves of around 10 kinds of rare minerals, including molybdenum and chrome, which can be provided to local firms for up to three months. The Ministry of Trade, Industry and Energy (Yonhap)The ministry said the program aims to guarantee a stable supply
IndustryMarch 26, 2017
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Citibank expands WM service in Korea
Citibank Korea has been expanding its global network-based wealth management service to differentiate its customer service in the South Korean financial market, the bank said Sunday.The Korean unit of the US bank opened its largest wealth management center in Cheongdam-dong, an affluent neighborhood in southern Seoul, last December. It has been seeking ways to further enhance its exclusive service by introducing a variety of programs to help expand customers’ assets. The Cheongdam center has a W
March 26, 2017
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Lotte strives to contain China fallout over Thaad row
A message in Chinese is on display at Lotte Department Store in Sogong-dong, central Seoul, on Sunday. (Yonhap)Lotte Group appears to be in dire efforts to soothe Chinese customers amid an escalating diplomatic spat over South Korea’s decision to deploy the US anti-missile system at property formerly owned by the retail giant. In a recent move, Lotte Department Store has displayed printed messages outside of its branches in Myeongdong and Jamsil that read “We understand you. So we are waiting fo
IndustryMarch 26, 2017
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LG expresses strong confidence in safety of G6 battery
South Korean tech giant LG Electronics Inc. unveiled its test lab to the public for the first time to reassure customers of the safety of its flagship smartphone G6 and its battery, industry watchers said Sunday.The company last week took the press on a tour of its smartphone production line located in Pyeongtaek, some 70 kilometers south of Seoul, amid concerns about smartphone safety sparked by rival Samsung Electronics' Galaxy Note 7. LG Electronics Inc.'s G6 smartphone (Yonhap)Samsung suspen
CompaniesMarch 26, 2017
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Automobile sales inch down in Korea on economic slump
The number of cars newly registered in South Korea edged down in 2016 from a year earlier, data showed Sunday, as the prolonged economic slump weighed down consumers' sentiment.According to the data compiled by the Korea Automobile Manufacturers Association, new vehicle registrations came to 1.82 million units last year, down 0.6 percent from 2015. (Yonhap)Industry watchers said the decline came as South Koreans in their 30s and 40s were less inclined to buy new cars amid the gloomy economic out
IndustryMarch 26, 2017
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LG Display to supply TV panels to Samsung: source
LG Display Co. plans to supply 700,000 units of liquid crystal display panels for TVs to Samsung Electronics Co. this year, industry tracker IHS Markit said Sunday.It will be the first such deal between the two South Korean firms, which are competing in the global tech industry.The logo of LG Display Co. (Yonhap)Samsung earlier sought to receive panels from Sharp Corp., but the Japanese player earlier announced it would end the supply after being purchased by Taiwanese Hon Hai Precision. Industr
CompaniesMarch 26, 2017
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Korea's industrial output seen rising 3.7% in Feb.
South Korea's industrial output is expected to move up 3.7 percent on year in February, compared with a 1.7 percent growth tallied a month earlier, according to an estimate by an international ratings agency on Sunday.Stronger global demand for electronics is likely to boost the nation's industrial production last month, Moody's Investor Service said in a statement. (Yonhap)"We expect industrial production to have expanded 3.7 percent y/y in February, up from January's 1.7 percent y/y gain," the
IndustryMarch 26, 2017
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Market cap of LG Group affiliates surpasses W80tr
The combined market capitalization of 11 affiliates of LG Group, including LG Electronics Inc., has surpassed 80 trillion won ($71.3 billion), boosted by their better-than-expected earnings, industry data showed Saturday.According to the data compiled by industry tracker FNGuide, the market value of LG's 11 affiliates stood at 80.1 trillion won as of Friday, up 13.9 percent from the end of last year. During the period, shares of LG Electronics jumped 39.9 percent to 72,200 won, buoyed by expecta
CompaniesMarch 25, 2017
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Deloitte Anjin gets 1-year new business suspension
The financial regulator said Friday it has decided to ask for Deloitte Anjin to be made to suspend its opening of new accounting services for a year for “turning a blind eye” on the window dressing of troubled shipbuilder Daewoo Shipbuilding & Marine Engineering.The Securities & Futures Commission announced that it has decided to request such a penalty on the company to the Financial Services Commission, which will review the request and make a final decision on April 5. The logo of Deloitte (De
March 24, 2017
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Korean submarines to use Samsung SDI lithium battery
Samsung SDI’s lithium batteries will be used for 3,000-ton submarines that are to be developed with Korean technologies for the first time, according to the state arms procurement agency. South Korea’s Defense Acquisition Program Administration said it had a critical design meeting Thursday to review whether lithium batteries are suitable for the submarines Chang Bogo-III and Batch-II. The critical design review is a meeting to determine whether making a prototype is feasible. (Yonhap)Chang Bog
TechnologyMarch 24, 2017
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'Transformed' FKI vows to boost transparency, take on more think tank role
The Federation of Korean Industries, the largest lobby body for large companies here, said Friday that it would boost transparency and switch to the role of a think tank for the corporate sector.Huh Chang-soo, chairman of the FKI, announced a set of reform measures that centers around its pledge to cut its murky connection with the political circle and the government, and to better serve as a think tank for the corporate sector and society as a whole. (Yonhap)Among others, in a gesture to show i
March 24, 2017
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Korea to sell W8tr state bonds in April
South Korea plans to sell 8 trillion won ($7.1 billion) worth of state bonds next month, the finance ministry said Friday.The government will issue 1.85 trillion won worth of bonds with a maturity of three years and 1.95 trillion won worth of five-year bonds. (Yonhap)It also plans to sell 1.85 trillion won worth of 10-year Treasurys and a combined 2.35 trillion won of bonds with a maturity of between 20 and 30 years.For May, it also has a plan to issue a combined 8 trillion won worth of state bo
March 24, 2017