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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Hopes rise for possible Gaza truce deal
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Ex-pro baseball player who killed debtor appeals sentence
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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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[Music in drama] Rekindle a love that slipped through your fingers
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Majority of Korean exporters oppose revision to commercial law
More than half of exporters in South Korea are against a proposed revision to the commercial law aimed at limiting the power of large shareholders in their respective firms that often comes at the expense of smaller shareholders, a survey showed Monday.In a recent survey conducted by the Korea International Trade Association, 50.5 percent of heads of 791 local export companies said they were against the revision currently sought by opposition parties. Rep. Jeong Kap-yoon (third from R, independe
Feb. 20, 2017
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[Health-tech Korea] What it takes to boost Korea’s digital health care
The Korea Herald is publishing a series of articles highlighting South Korea’s promising start-ups in the emerging sectors of digital healthcare and next-generation medical devices. This is the first installment. –Ed.Digital technologies continually transform every industry, but one area that technological advances are forecast to impact the most in the years ahead is the global health care sector. Eyeing new opportunities, global tech companies, medical device firms as well as startups have beg
TechnologyFeb. 19, 2017
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Chicken prices surge amid supply shortage
The prices of chicken in South Korea has surged in the past few months largely due to a supply shortage stemming from the massive culling of chickens in the wake of the avian influenza spreading, industry data showed Sunday.The price of chicken stood at 888 won ($0.8) per kilogram on Dec. 22 when the bird flu was spreading at a faster pace but surged to 2,200 won per kg Tuesday, industry data showed Sunday. (Yonhap)Facing its worst avian influenza outbreak, South Korea has culled more than 33 mi
IndustryFeb. 19, 2017
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Samsung family’s stock value plunges on heir’s arrest
Members of the founding family of South Korea’s top conglomerate Samsung Group saw the value of their shareholdings tumble last week as its heir apparent was taken into custody, data showed Sunday.Lee Jae-yong, vice chairman of Samsung Electronics and Samsung’s de facto leader, was detained Friday on charges of bribery in connection to an influence-peddling scandal that led to President Park Geun-hye’s impeachment, becoming the first leader in Samsung’s history to be detained on criminal charges
IndustryFeb. 19, 2017
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[STOCK PREVIEW] Seoul shares forecast to face downward pressure this week
South Korean shares are expected to come under pressure next week as lingering concerns over US President Donald Trump’s policies, coupled with increased currency volatility, may continue to sap market sentiment, analysts said Saturday.The benchmark Korea Composite Stock Price Index closed at 2,080.58 points Friday, slightly up from 2,075.08 points a week earlier. (Openas)This week, the local stock market started a tad higher on hopes for the Trump administration’s tax policies, and the US Fed C
Feb. 19, 2017
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Foreign investors pocket hefty dividends from Korean firms
Foreign investors have received almost 15 trillion won ($13 billion) in dividends from South Korea’ top 10 conglomerates over the past three years on the back of shareholder-friendly policies, industry data showed Sunday.According to the data compiled by industry tracker Chaebul.com, Samsung Group, Hyundai Motor Group and eight other business groups have paid a combined 14.67 trillion won in dividends to foreign investors over the past three years. (Yonhap)In 2014, foreign investors received a c
Feb. 19, 2017
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LG Hausys acquires stake in Slovakian auto parts firm
LG Hausys has acquired a 50.1 percent share of c2i (Composite Innovation International), an automobile parts company based in Slovakia, the company said Sunday.It held a meeting of its board of directors Friday and approved the acquisition of the shares in c2i, which specializes in carbon-fiber components for automobiles. The two companies will seal the contract within this month and complete the transaction by March, LG added.The move follows LG Hausys’ push to further expand its lightweighting
MobilityFeb. 19, 2017
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Kumho Asiana Group expands cultural activities
Kumho Asiana Group has been expanding its cultural activities as the core of its social contribution programs, helping to foster aspiring artists and operating the country’s representative museums and art centers.South Korea’s leading air carrier has been expanding its artistic contribution, in particular since Chairman Park Sam-koo was made the ninth chair of the Korea Mecenat Association, a nonprofit body that encourages corporate support of the arts, in February 2015.Many of the group’s arts-
CompaniesFeb. 19, 2017
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Korean Air building parts for B787 Dreamliner in Busan
BUSAN -- About 10 minutes outside Gimhae International Airport in Busan stands a cluster of buildings that make up the Korean Air Busan Tech Center. Housing facilities for airplane maintenance, repair and overhaul as well as manufacturing, the 710,000-square-meter complex is where Korean Air is currently building parts for the new Boeing 787-9 Dreamliner.Korean Air is best known for its commercial airline, but at the Busan Tech Center it has also been in charge of maintaining aircraft as well as
IndustryFeb. 19, 2017
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[Newsmaker] What’s next for Lee Jae-yong?
Samsung heir apparent Lee Jae-yong’s life has been turned upside down since he was taken into custody on allegations of bribery Friday.For the second consecutive day on Sunday, Lee stood handcuffed and bound with white ropes in front of special prosecutors, his prisoner identification number marked on his navy suit.He is the first head of Samsung to be locked behind bars in the conglomerate’s history. At the Seoul Detention Center in Uiwang, Gyeonggi Province just outside Seoul, he is being kept
IndustryFeb. 19, 2017
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[NEWS ANALYSIS] Chaebol’s governance restructuring hangs in balance
South Korea’s key conglomerates are expected to closely watch the National Assembly’s move this week over whether lawmakers would pass pending bills to limit their ownership in the course of governance restructuring.In light of the arrest of Samsung’s de facto leader Lee Jae-yong by the special prosecution over charges including bribery, hiding assets overseas and perjury, opposition lawmakers are pushing hard to pass the “economic democracy” bills that aim to restrict chaebol owners’ control ov
IndustryFeb. 19, 2017
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[Behind the Wheel] All New Morning safer, more spacious
GAPYEONG, Gyeonggi Province -- Defying the common perception of compact cars, Kia Motors’ third-generation smart compact car All New Morning features enhanced safety along with a bigger interior.The company hosted a media test drive encompassing 109 kilometers to and from the Grande Walkerhill Hotel in Gwangjin-gu, eastern Seoul to a cafe in Gapyeong of Gyeonggi Province. Kia Motors’ third-generation smart compact car All New Morning. (Kia Motors) The All New Morning’s interior provided enough s
MobilityFeb. 19, 2017
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[Behind the Wheel] New Korando C goes family-oriented
HWACHEON, Gangwon Province -- In contrast to the original Korando, which had a masculine and adventurous image, the latest SUV rolled out by SsangYong Motor, the New Style Korando C, aims to be family oriented, offering a comfortable driving experience. SsangYong Motor, the local unit of Indian carmaker Mahindra & Mahindra Ltd., held a media performance test drive of its latest SUV from its headquarters in central Seoul to Hwacheon of Gangwon Province. The round trip totaled 290 kilometers and a
MobilityFeb. 19, 2017
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Samsung vows normal operation despite arrest
Samsung Electronics Vice Chairman Lee Jae-yong appeared for the second day of questioning by a special counsel team Sunday, two days after his arrest made headlines here and abroad, with the conglomerate vowing business as usual despite the leadership vacuum.The special prosecutors investigating the Choi Soon-sil scandal are expected to continue questioning Lee until Feb. 28, when the team’s term is due to end.The team reportedly focused on the allegations that Lee gave some 43 billion won ($36.
IndustryFeb. 19, 2017
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Chicken price surges amid supply shortage
The price of chicken in South Korea has surged in the past few months largely due to a supply shortage stemming from the massive culling of chickens in the wake of the avian influenza spreading, industry data showed Sunday.The price of chicken stood at 888 won ($0.8) per kilogram on Dec. 22 when the bird flu was spreading at a faster pace but surged to 2,200 won per kg Tuesday, industry data showed Sunday.Facing its worst avian influenza outbreak, South Korea has culled more than 33 million poul
IndustryFeb. 19, 2017
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Samsung chief questioned for 2nd day on bribery charges
Lee Jae-yong, de facto leader of Samsung Group, appeared before special prosecutors for the second straight day Sunday to undergo questioning over an influence-peddling scandal involving President Park Geun-hye.Lee, vice chairman of Samsung Electronics Co., appeared at the prosecution team's office in southern Seoul where he is to be questioned over allegations that he received business favors by granting a large amount of bribes to the president's longtime friend. This marked the second day tha
IndustryFeb. 19, 2017
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Samsung heir Lee Jae-yong resummoned by special prosecution
Samsung Electronics Vice Chairman Lee Jae-yong was summoned again by the special prosecution team investigating the Choi Soon-sil scandal Saturday, his first summons since he was arrested on Friday morning. At 2:20 p.m., the Samsung heir-apparent, wearing a black suit, white shirt and a prison number on his left chest, arrived at the special prosecution team’s office by police van. With a stern facial expression, Lee, his hands tied together with rope, did not answer any questions asked by repor
IndustryFeb. 18, 2017
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Harman votes to approve merger with Samsung Electronics
Shareholders of US auto parts supplier Harman International approved the company’s merger with Samsung Electronics Friday. According to a regulatory filing with the US Securities and Exchange Commission, 70.78 percent of Harman’s common shares were represented at the shareholders meeting-- 49,460,322 out of a total of 69,883,605 shares – either by shareholders or through proxies. The voting result was 46,921,832 shares in favor and 2,107,178 shares against, with 431,312 abstentions. Samsung Elec
IndustryFeb. 18, 2017
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Singapore Airlines to launch full-course Korean meals
Singapore Airlines will begin serving full-course Korean meals on flights in collaboration with chef Yim Jung-sik, a renowned South Korean chef-restaurateur, on routes between Korea and Singapore starting March 1, the firm said Friday. “Singapore Airlines has a wide variety of customer base. Also, the Korean cuisine is increasing in popularity, so we decided to introduce hansik (traditional Korean food),” said Betty Wong, a divisional vice president of customer experience at Singapore Airlines,
IndustryFeb. 17, 2017
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Hotel Shilla shares shine amid rumors of Samsung heiress’ rise
Shares of a luxury hotel led by Samsung Electronics Vice Chairman Lee Jae-yong’s younger sister were on the rise amid rumors that she might fill the group’s leadership vacuum. Shares in Hotel Shilla, led by Lee Boo-jin, the eldest daughter of Samsung Group Chairman Lee Kun-hee, soared Friday as market watchers speculated the 46-year-old female tycoon may succeed her brother in managing South Korea’s most powerful conglomerate. Shares in Hotel Shilla soared more than 5 percent
CompaniesFeb. 17, 2017