Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Samsung Group left unsettled
Nearly all of Samsung Group was placed on full alert Thursday, as de facto leader Lee Jae-yong walked into the office of the special counsel on the presidential scandal in the morning as a suspect facing possible charges of bribery. (Chung Hee-cho/ The Korea Herald)Since the second half of last year, the nation’s largest conglomerate had kept its profile low, delaying major executive-level reshuffles and withholding celebrations despite Samsung Electronics’ estimated 50 percent jump in earnings
IndustryJan. 12, 2017
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LG Hausys targets imitation marble market in North America
LG Hausys disclosed new products made from engineered stone and imitation marble at the “KBIS 2017,” North America’s largest kitchen and bath industry show. (Yonhap)Engineered stone is a premium product that resembles natural marble on the outside, and is highly fouling resistant. Its demand is continuously increasing, particularly in North America and Europe. LG Hausys has completed the expansion of its product line in its factory in Georgia last year.The company’s exhibition hall displayed liv
IndustryJan. 12, 2017
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Eyes on Korea-China FTA meeting amid THAAD tension
One day before South Korea and China are scheduled to hold the first meeting of the free trade agreement joint committee, the trade minister here said Thursday that he is considering discussing about recent trade issues with China over Seoul’s decision to deploy a US Terminal High Altitude Area Defense anti-missile battery. “We will raise the relation between issues raised by Korean companies and the deployment of THAAD during the meeting of the Korea-China FTA joint
Jan. 12, 2017
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Woori Bank named best wealth manager
Woori Bank has been selected as a winner of the 2016 World Finance Best Wealth Management Awards, the bank said Thursday. (Yonhap)World Finance, a London-based finance magazine, names one financial institute from each country as the best wealth manager in the country. Woori Bank is the first Korean company to receive the award, the firm said. World Finance said it took into consideration Woori Bank’s mobile initiatives and sales performance of bancassurance and private equities. Woori has set up
CompaniesJan. 12, 2017
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Korean shares climb high on foreign buying
South Korean shares continued to advance on large cap gains and foreign buying to reach a new high in over 18 months Thursday. The local currency also significantly gained ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index added 11.97 points, or 0.58 percent, to 2,087.14, breaching the 2,080 mark for the first time since July 21, 2015, when the index stood at 2,083.62. (132rf)Trading volume was high at 546.5 million shares worth 4.65 trillion won ($3.92 billion), with
Jan. 12, 2017
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Samsung heir questioned over Park scandal
Samsung heir apparent Lee Jae-yong was questioned by special investigators as a bribery suspect Thursday, putting not only himself, but also the tech giant deeper into the quagmire that centers on the corruption charges of President Park Geun-hye and her longtime friend Choi Soon-sil.Surrounded by the press and hundreds of protestors, the vice chairman of Samsung Electronics, the world’s largest smartphone and chipmaker, entered the special investigation team’s office in southern Seoul at 9:30 a
IndustryJan. 12, 2017
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‘KCC discussing need to regulate online advertising’
KCC Chairman Choi Sung-joon, speaks at a press luncheon at the Gwacheon Government Complex in Gyeonggi Province on Thursday. (KCC)South Korea’s broadcasting and communications authority is discussing the need to regulate online advertisements, according to its chief Thursday. Choi Sung-joon, chairman of the Korea Communications Commission, said the commission held a workshop on the issue Wednesday, amid growing calls to regulate massive advertisement profits made by internet portal sites and soc
TechnologyJan. 12, 2017
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VW to begin emissions fraud vehicle recall next month
The Korean government said Thursday that is has approved Volkswagen’s first set of recall plans for 27,000 Tiguan SUVs sold with faked emissions tests. The recall is set to begin on Feb. 6. The decision follows the indictment of seven former and current staff at Audi Volkswagen Korea, including the Korean unit chief Johannes Thammer. “We will send out letters explaining the recall procedures and schedules to all the customers of the targeted vehicles starting on Jan. 24,” the company said in a
MobilityJan. 12, 2017
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LG to debut next flagship smartphone G6 in Feb.
LG Electronics Inc. said Thursday it will unveil its next flagship smartphone, the G6, at an annual technology fair in Spain next month, as it struggles to revive its money-losing smartphone business. In a teaser video released earlier in the day on its YouTube and Facebook accounts, LG hinted that the new smartphone would be released in February. The date means that LG will unveil the new smartphone at the Mobile World Congress show next month, an LG official said. The 40-second video asks seve
TechnologyJan. 12, 2017
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LG’s 14-inch Gram laptop sets new Guinness World Record
LG Electronics said Thursday its ultralight laptop has secured its place in the Guinness Book of World Records. The company’s 14-inch (35.6 centimeters) ultralight Gram, which was launched early this month, weighs 860 grams. “Guinness World Records confirmed LG’s new ultralight Gram is the lightest in the world after measuring around 70 models of 14-inch laptops being sold in 25 nations,” a LG Electronics official said. This is LG Gram series’ second title in the Guinness Book of World Records,
TechnologyJan. 12, 2017
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Korea to issue 10-yr FX stabilization bond
South Korea has been working on floating 10-year foreign exchange stabilization bonds worth up to $1 billion, the finance ministry here said Thursday.The Ministry of Strategy and Finance said it has made a deal announcement in the United States on Wednesday (US time) to issue the bonds as part of its efforts to stabilize the market."Detailed rates and amount will be decided later in accordance with the market situations," said the ministry in a release.The ministry said it picked seven companies
Jan. 12, 2017
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Foreign exchange fluctuations widen this year: BOK
Jitters in the financial markets, sparked by the US presidential election in November, have recently abated but foreign exchange fluctuations have more than doubled since the beginning of the New Year, a central bank report said Thursday.According to the report by the Bank of Korea on the latest international financial and foreign exchange markets, daily fluctuations in the won-dollar exchange rate widened by as much as 9.1 won per dollar on average during the first 10 days of January by 4 won o
Jan. 12, 2017
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Mercedes-Benz Korea to hike prices next month
Starting Feb. 1, Mercedes-Benz customers in Korea are going to encounter slightly higher prices, according to the local branch of the German automaker Wednesday. “The change in price will be a minimum of a 0.4 percent increase, with a maximum increase of 1.2 percent (average of 0.8 percent),” said a representative of Mercedes-Benz Korea in a press statement. “The reasons for the increase is due to the rising costs of logistics, raw material prices, inflation as well as upgraded product specific
MobilityJan. 12, 2017
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Acting president vows expanded support for SMEs
Acting President and Prime Minister Hwang Kyo-ahn on Thursday vowed to expand policy support for small and medium-sized enterprises, stressing their role in creating jobs and revitalizing the economy.During the New Year's greeting session with local SME leaders, Hwang also said that his government will strive harder to promote the globalization of SMEs as part of efforts to shore up flagging exports. (123rf)"SMEs are the root of our economy. They are locomotives for another leap forward and the
IndustryJan. 12, 2017
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Korea's overseas funds to hit W100tr won soon
The net asset of South Korea's overseas investment fund is forecast to reach 100 trillion won ($84.5 billion) soon, as investors are seeking higher returns amid declining rates, market watchers said Thursday.The figure hit a record high of 91.7 trillion won on Friday after surpassing the 90 trillion mark for the first time on Dec. 22, 2016, they said.Real estate-based funds came to 12.7 trillion won to account for most of the total overseas investment funds, followed by equity funds with 7.5 tri
Jan. 12, 2017
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Air Seoul launches in-flight magazine ‘Your Seoul’
The cover of “Your Seoul” (Air Seoul)Local low-cost carrier Air Seoul said Thursday that it launched an in-flight magazine called “Your Seoul” to promote the tourism attractions of Korea‘s capital.The magazine is part of the airline’s cooperative efforts with Seoul to help increase the brand power of the city.“Your Seoul” includes information on Air Seoul‘s various destinations in addition to Seoul. The first 64-page volume includes recommendations of relatively unknown destinations in Seoul fro
IndustryJan. 12, 2017
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Samsung launches first gaming laptop Odyssey
Samsung Electronics on Thursday launched a 15.6-inch premium laptop specialized for game playing featuring Intel’s seventh generation Core processors and Nvidia’s newest graphic card. Named “Odyssey,” the laptop is the first game-specialized product by the No.1 electronics maker in South Korea. Odyssey (Samsung Electronics)The Odyssey offers optimized conditions for gamers, equipped with Intel’s latest seventh generation Core i7 and i5 processors, the newest GeForce GTX 1050 graphic card, a 256
TechnologyJan. 12, 2017
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Deutsche Bank gives new Korean dads 120-day parental leave
Deutsche Bank Group Korea said Thursday it will give up to 120 days of parental leave to its male employees as part of the European bank’s family-friendly corporate policy.While most companies offer legally-fixed 90-day parental leave, Deutsche Bank used to give 120-day leave to female employees to take care of a newborn. (123rf)Under the new policy, a male employee as a primary caregiver, taking care of his child during work hours, can use the maximum 120-day parental leave. A non-primary careg
Jan. 12, 2017
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Two financial regulators vow close ties for risk management
South Korea's two state financial regulatory agencies sought to dispel public worries Thursday about possible conflicts over overlapping work and a lack of synergy, holding a joint meeting of top officials."At a time when uncertainties run high like this year, risk management is more important than any other time," said Yim Jong-yong, chairman of the Financial Services Commission. Yim Jong-yong, chairman of the Financial Services Commission (Yonhap)"For that, the FSC and the Financial Supervisor
Jan. 12, 2017
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Korea approves Volkswagen's recall plan on faked emissions vehicles
The South Korean government said Thursday it has approved German carmaker Volkswagen's recall measures for its sports utility vehicles that were found to have been sold in the country using fake emissions-related documentation. The Ministry of Environment said the recall plan for 27,000 Tiguans submitted by the auto giant met the standards in terms of emissions and fuel efficiency.After the carmaker's emissions scandal broke out in the United States in September 2015, the Seoul government launch
IndustryJan. 12, 2017