Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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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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Medical reform committee kicks off despite boycott from doctors
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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Digital signage industry to create 70,000 jobs by 2020
South Korea's digital signage industry could create 70,000 jobs and generate 10.1 trillion won ($8.6 billion) in production by 2020, a local think tank said Monday.The Korea Economic Research Institute made the prediction in a report on the smart advertising industry.Digital signage refers to display devices that show advertisements and information in public or commercial areas through networks. Last year, South Korea accounted for 19 percent of the global digital signage market.The South Korean
IndustryJune 20, 2016
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Korean scientists develop new advanced material for lithium-ion battery
A team of South Korean researchers has developed a new type of graphene for lithium-ion batteries that can be recharged at a faster rate than conventional ones with no risk of reduced capacity, they said Monday.Conventional graphene is a two-dimensional atom-thin sheet of carbon that is commonly produced by resolving graphite in a chemical solution and then later separating the ultra-thin sheet of carbon from the solution, according to the Korea Advanced Institute of Science and Technology.Such
TechnologyJune 20, 2016
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LG Electronics introduces 'smart sensor' for home appliances
South Korean home appliance maker LG Electronics Co. introduced a set of brand new devices Monday that are able to transform conventional household appliances into smart and connected devices which can interact with the latest mobile communication devices.They are SmartThinQ sensors and SmartThinQ Hub.The smart sensor is attached to old, plain home appliances with no connectivity, such as conventional washers, dryers and refrigerators, to enable a connection between the electronic appliances and
TechnologyJune 20, 2016
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Saenuri floor leader vows to promote fair competition to Korean economy
South Korea's ruling Saenuri Party said Monday it will make efforts to bring fair competition to the country's business realm, adding it will also root out irregularities among conglomerates."A country that is not run fairly cannot stand up straight,"said Chung Jin-suk, the floor leader of Saenuri, adding the country must make efforts to withhold unnecessary privileges from the high-income bracket.The lawmaker claimed South Korea's economy is effectively run by the upper 10 percent. He said this
June 20, 2016
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LG to recall air purifier filters containing toxic chemicals
[THE INVESTOR] LG Electronics said Monday that it would launch a recall campaign for air purifier filters after some products were found to contain Octylisothiazolinone (OIT), a chemical substance toxic to humans. “A small amount of OIT was found in 3M’s filters for fine particles, which were fitted in LG’s air purifiers and air conditioners produced after 2012,” the company said. LG Electronics’ air purifiers.Right after the toxic filter issue surfaced recently, LG has requested air filter make
TechnologyJune 20, 2016
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Chinese operations expected to boost Hanmi Pharm
[THE INVESTOR] NH Investment and Securities maintained Hanmi Pharm’s target price at 1.1 million won (US$944) on June 20, saying that the pharma firm’s Chinese branch is expected to continue expanding. Hanmi Pharm opened at 660,000 won on the stock market June 20, up 10,000 won from June 17. According to NH Investment and Securities, Beijing Hanmi has recorded an average annual growth rate of 21.2 percent since 2006. Saying that Beijing Hanmi is expected to apply for clinical trials and licenses
June 20, 2016
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Bad loans may put insurance firms at risk
[THE INVESTOR] Korean insurance companies’ financial status and profitability may take a blow following the industry-wide restructuring of shipbuilding and shipping sectors as corporate debts extended by insurers are on the rise, according to a local think tank’s report. “The size of corporate liabilities extended by insurance companies is only one-twelfth of banks’ lending but credit risks that they are taking can be relatively bigger,” said Jeon Yong-sik, a researcher at Korea Insurance Resear
June 20, 2016
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DRAM prices stop falling: market data
The DRAM market shows signs of a turnaround, raising expectations for a recovery in South Korean producers' earnings, data showed Monday.Memory chips are among South Korea's main export items. The global price of DRAM chips suffered a fall for the 19th consecutive month since late 2014. Samsung Electronics' NAND flash memory chips (Yonhap)The spot price of the "DDR 512x8" chip, a flagship DRAM product, shifted to a rise from a decline as of June 6, according to Market tracker DRAMeXchange and in
IndustryJune 20, 2016
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Number of stamp collectors dips in digital era
In the 1960s and '70s, stamp collecting was arguably the most popular hobby among adolescents in South Korea. When new stamps went on sale, hundreds of students formed long queues in front of post offices in large cities from the early morning hours, prompting even police to send officers to maintain order. Scores of students got called on the carpet for being late.However, South Korea's oldest hobby related to information and communications has become "an endangered interest" as the advent of t
June 20, 2016
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Lotte affiliates purchased $192.7m worth of owner family’s shares
[THE INVESTOR] Lotte Group affiliates have frequently purchased stocks of unlisted companies owned by the group’s owner family, including the founder Shin Kyuk-ho and his three children, since 2001, data by an online corporate tracker showed on June 19. According to Chaebul.com, Lotte’s seven affiliates, including Hotel Lotte -- the de facto holding company of its Korea operations -- have spent a total of 224.6 billion won ($192.7 million) to purchase shares of private companies owned by the fou
IndustryJune 20, 2016
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[Consumer This Week] Philips, Innisfree, Piaget, Shinsegae, Paris Baguette, Season’s Table
Philips opens makeshift shop at Hyundai Department StorePhilips Korea is running a makeshift shop at Hyundai Department Store at Coex in southern Seoul until June 23, offering its home beauty devices including those for cleansing and hair removal. Visitors to the temporary shop can see and try out the brand’s flagship products including its facial massagers, automatic facial cleansing devices and laser hair-removal devices.The brand is offering discounts and promotions as well as free gifts for
IndustryJune 20, 2016
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Chinese airlines dominate airway between Jeju and China
Demands for air travel between South Korea's resort island of Jeju and Chinese cities have soared over the past years, but Korean airlines have had difficulty in increasing flights due to tough regulations imposed by the Chinese government, industry data showed Monday. Out of 350 flights scheduled weekly between Jeju and Chinese cities from March 27 to Oct. 29, flights by Chinese airlines account for 86.9 percent of the total, according to the Jeju branch of the Korea Airports Corporation. The r
IndustryJune 20, 2016
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Korea-US FTA boosts US car sales in Korea
[THE INVESTOR] US carmakers’ sales in Korea overtook that of Japan for the first time in 2015, industry data showed on June 20. The change is thought to have been brought on by the Korea-US free trade agreement implemented in 2012. Following the FTA, the tariff on US-built vehicles was initially cut from 8 percent to 4 percent. From this year, the tariff has been completely removed. Ford New kuga 2016.According to Korean and Japanese automobile importers’ associations, US marques’ Korean sales c
BusinessJune 20, 2016
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Golden Blue seeks to develop real 'Korean whisky'
Golden Blue is fast expanding its presence in South Korea with a low-alcohol whisky brand to lead a new trend, but its ultimate goal is to develop "real Korean whisky" made with a homemade solution, its chief executive said. Golden Blue, a homegrown whisky released in 2009 by a fledgling Korean distiller based in the southeastern port city of Busan, has been increasingly widening its base among whisky lovers who prefer a mild taste and affordable price tag.Golden Blue has imported an undiluted s
IndustryJune 20, 2016
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Samsung supports Korean War veterans' offspring
The Samsung Group, South Korea's largest conglomerate, has gone global not only with its smartphones and other products but also with steady financial support for those in need abroad.Major beneficiaries include Korean War veterans and their offspring.Samsung has provided them with a total of around US$8.5 million in various aid programs since the early 1990s, according to group officials on Monday.The campaign is based on the belief that the sacrifice of the war veterans is the reason for the r
CompaniesJune 20, 2016
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Kakao Pay users exceed 10m mark
[THE INVESTOR] Kakao’s mobile payments service Kakao Pay has logged more than 10 million users on its home turf since its September 2014 launch, the Internet giant said on June 20. Running on the immensely popular KakaoTalk mobile messenger, the service has become the first financial technology or fintech service to hit the 10-million milestone in terms of users. Currently, there are more than 50 million KakaoTalk users around the world. The company attributed the service’s wider adoption amo
TechnologyJune 20, 2016
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U.S. sold more cars in Korea than Japan last year
U.S. carmakers sold more cars in South Korea than Japan last year, industry data showed Monday, due mainly to the competitive advantages of the free trade deal between Seoul and Washington.Sales of American cars in South Korea came to 17,501 units last year, compared with 14,623 units of U.S. cars sold in Japan, according to the Korea Automobile Importers and Distributors Association and Japan Automobile Importers Association.It marked the first time that sales of American cars in South Korea ha
MobilityJune 20, 2016
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Public utility rates jump amid low inflation
South Korea's public utility rates rose at a much faster face than their overall consumer inflation in May due mainly to increased transportation fees, government data showed Monday.The country's public utility rates rose 2.2 percent in May from a year earlier, far higher than the headline inflation rate of 0.8 percent, according to the data by the nation's statistical agency, central government ministries and provincial administrations.After peaking at 2.1 percent in January 2010, the growth ra
IndustryJune 20, 2016
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Bank of China set to join Seoul's yuan futures market
The Seoul branch of the Bank of China, a major Chinese commercial bank, may soon begin offering futures contracts on the Seoul bourse, informed sources said Monday, a move that could help significantly boost the local market.The local branch of the Chinese bank has already submitted a request to South Korea's financial watchdog, seeking permission to sell futures contracts on the South Korean stock market, according to the market sources, who spoke on condition of anonymity.The state watchdog, F
June 20, 2016
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VW gasoline customers to file criminal charges
[THE INVESTOR] Korean customers of Volkswagen’s gasoline vehicles are set to file criminal charges against Audi Volkswagen Korea. The move comes in the wake of the recent disclosure by prosecutors that the German carmaker rigged software of its gasoline cars to cheat on emission tests, local news reported on June 19. “Following the diesel vehicle scandal, it has been revealed that gasoline cars were also manipulated. We plan to gather victims here and file a lawsuit against Audi Volkswagen Korea
BusinessJune 20, 2016