Most Popular
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Naver’s Line ownership in jeopardy as Japan ups pressure
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South Korea to launch space security center under spy agency
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More med professors to take day off each week while govt. urges them to stay
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Hybe refutes Ador CEO Min's denial of breach of trust
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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[Weekender] How DDP emerged as an icon of Seoul
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[Today’s K-pop] NewJeans' single teasers release amid intrigue
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Samsung to share production solutions with textile firms
Samsung Electronics said Friday it will share its know-how with local textile producers, helping them to adopt more efficient production solutions and seek shared growth.Samsung said it will provide the solutions to 16 textile firms based in Gyeonggi Province under an agreement with the Center for Creative Economy & Innovation based in the region. The government has been opening up so-called creative economy centers throughout the country sponsored by conglomerates, aimed at bolstering the devel
IndustryApril 8, 2016
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Tsingtao tops import beer sales in Korea
The Chinese beer Tsingtao has emerged as the No. 1 import brand in Korea at a leading supermarket chain, industry data showed Friday, amid the rising popularity of Chinese cuisine in the country.According to the data compiled by E-Mart, Tsingtao outpaced other rivals in sales over the January-March period, pushing out traditional leaders, including the Netherlands' Heineken and Japan's Asahi.In 2014, Heineken stood as the No. 1 player, trailed by Asahi and Belgium's Martens. At that time, Tsingt
IndustryApril 8, 2016
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Q1 car sales in Korea hit quarterly high on tax cut, new models
Domestic sales by automakers in Korea hit their quarterly high during the first three months of this year, bolstered in part by the government's push to extend a tax cut on car purchases, industry data showed Friday.Five automakers, including Hyundai Motor, and Kia Motors, along with two commercial vehicle manufacturers, including Tata Daewoo, sold a combined 368,492 cars during the January-March period. This is up from the previous year's 362,856 units.This represented the best first-quarter sa
MobilityApril 8, 2016
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Korean shares open lower on U.S. stock falls
Korean stocks started lower on Friday, taking a cue from overnight losses in Wall Street.The benchmark Korea Composite Stock Price Index (KOSPI) shed 11.16 points, or 0.57 percent, to 1,962.73 in the first 15 minutes of trading.Market heavyweights traded mixed, with top player Samsung Electronics falling 0.87 percent.Hyundai Motor, the nation's leading automaker, dropped 0.68 percent. State-run Korea Electric Power Corp. suffered 0.85 percent fall, and top steelmaker POSCO was down 1.72 percent.
April 8, 2016
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[Graphic News] Asian elephant is zoo’s biggest eater
The Asian elephant eats the most out of all the animals at Seoul Grand Park, which contains a zoo. It eats up to 102.3 kilograms of food on a daily basis. On the other hand, the tarantula eats only 0.2 grams of food -- the smallest intake out of the zoo’s animals, according to the facility on Wednesday. One Asian elephant can consume 75 kilograms of hay, 24.7 kg of fruits and vegetables, and 2.6 kg of assorted feed, making it the No.1 eater out of all the animals at the park. It can also excrete
April 7, 2016
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[Photo News] Pledge for fair trade
PLEDGE FOR FAIR TRADE---POSCO chairman Kwon Oh-joon (seventh from right) poses with Fair Trade Commission chairman Chung Jae-chan (eighth from right) and executives from the steelmaker’s affiliates and their subcontractors after signing an agreement with the antitrust watchdog for fair trade. (POSCO)
IndustryApril 7, 2016
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Media watchdog to consult U.S. FCC over SK-CJ deal
Korea Communications Commission chairman Choi Sung-joon said Thursday he will have discussions with top officials from the U.S. communications regulator over a proposed merger of IPTV firm SK Broadband and cable TV company CJ HelloVision this month.Chairman Choi and officials from the Korean regulator are scheduled to fly to the U.S. on Feb. 17 and meet with the Federal Communications Commission officials including chairman Tom Wheeler.Choi Sung-joong, the chairman of Korea Communications Commis
TechnologyApril 7, 2016
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Is K-beauty ready for global halal market?
From China to the U.S., South Korean cosmetics firms have been making inroads into the global market by diversifying their product lines and brand image to satisfy customers with different skin conditions, culture and style. Despite their rapid growth overseas, they may be missing a big opportunity to take a lead in the Islamic countries -- seen as markets with great potential and demand for beauty products, industry insiders said.The reason for Korean companies’ passive attitude has a lot to do
IndustryApril 7, 2016
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Lotte seeks to acquire global luxury houses
The duty-free unit of Hotel Lotte will seek to acquire global luxury brands as well as foreign tax-free operators as part of efforts to expand its presence and influence in the global retail market, according to reports on Thursday.Lotte Duty Free, the nation’s largest duty-free operator, believes that acquiring a foreign luxury house will have a synergy effect on its business, citing the success of foreign rivals that use the value of luxury brands as a negotiation tool for their global expansi
IndustryApril 7, 2016
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Korean stocks close higher on eased uncertainties
Korean shares closed slightly higher Thursday as the U.S. Federal Open Market Committee's (FOMC) March minutes met expectations, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 2.57 points, or 0.13 percent, to finish at 1,973.89. Trading volume was high at 424 million shares worth 4.57 trillion won ($3.97 billion), with gainers beating losers 427 to 369.Analysts said Seoul shares closed higher as the FOMC minute met
April 7, 2016
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Antitrust watchdog widens FX rigging probe
Korea’s antitrust watchdog has launched an investigation into foreign banks on speculation over collusions on foreign exchange swap bids, sources said Thursday. The Fair Trade Commission raided offices of a dozen foreign lenders, including Standard Chartered Cheil Bank Korea and Citibank Korea, and asked them to submit documentation related to bidding processes for foreign currency swap transactions in order to look into whether unfair business practices were involved.Fair Trade Commission in Se
April 7, 2016
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Tax change hits sales of luxury company cars
Tightened taxation rules affected sales of luxury company cars with price tags exceeding 100 million won ($86,600), most of which are foreign car brands, in the first quarter of this year, an industry source said. According to the Korea Automobile Importers & Distribution Association, the number of imported cars registered by companies fell to 19,564 units in the first three months, a 20.5 percent drop from the same period of last year. “Behind the sharp fall is the tightened tax deduction rule
MobilityApril 7, 2016
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13 Korean builders may face huge fine for collusion
The antitrust watchdog is likely to slap 13 Korean builders with combined fines of 500 billion won ($430 million) for collusion, industry sources close to the matter said Thursday. The sources said the construction companies, which include Hyundai E&C, Daewoo E&C and Daelim E&C are suspected of fixing prices for the liquefied natural gas tank project, which started in 2005. The project valued at around 1.3 trillion won was ordered by the state-run Korea Gas Corp. “We are making an investigation
IndustryApril 7, 2016
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[Herald Interview] Shaping Korean start-up scene
Since its launch a decade ago, Pangyo Techno Valley in Pangyo, Gyeonggi Province, has grown to become the largest venture hub in South Korea. It houses more than 1,000 companies in different industrial categories -- ranging from information technology to biotechnology -- and employs about 70,000 people, generating 70 trillion won ($60 billion) in combined revenues last year. This accounts for more than 20 percent of the entire gross domestic product of the largest province in Korea.
TechnologyApril 7, 2016
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Jaguar Land Rover Korea expands used car business
Jaguar Land Rover Korea will strengthen its certified used car business by opening five more preowned car showrooms this year, the company said on Thursday. The firm started the business in 2014, opening the first showroom for its approved preowned cars in Seoul for the first time in the Asia Pacific region. Recently, it opened the second showroom in Janganpyeong where the nation’s biggest used-car market is located. The showroom for preowned Jaguar Land Rover cars in Janganpyeong, Seoul. (Jagu
MobilityApril 7, 2016
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[Newsmaker] Anbang’s Allianz buy spurs Chinese deals
From hotels, movies, games and financial services to energy, manufacturing and information technology, there is not one sector across industries or markets that China is not involved in.China’s growth may be losing momentum a bit, but that does not mean Chinese companies do not have the capital to remain acquisitive for businesses that can help them generate more value. And finance is one of many services where they want to get their hands on and boost global competitiveness through acquisitions
April 7, 2016
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Samsung profits beat estimates thanks to Galaxy S7
Samsung Electronics performed better than expected in the first quarter, largely driven by the upbeat sales of its flagship Galaxy S7 smartphone. The Korean tech giant said Thursday in a regulatory filing that its operating profit in the first three months this year was likely 6.6 trillion won ($5.7 billion), well above the average 5.6 trillion won estimate by local analysts. Pedestrians pass a Samsung Electronics retail store in Seocho-dong, southern Seoul, on Thursday. (Yonhap)The figure is u
TechnologyApril 7, 2016
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Mind those extra pounds?
Let’s say you’re trying to avoid sugar. And you’re at work one morning, when someone puts out that irresistible pink box of doughnuts. (Or a bowl of chips, or whatever your weakness may be.) It’s a common scenario -- and likely pitfall -- for anyone who is trying to eat healthier. Here’s an uncommon solution from Instagram star Tiffany Cruikshank, author of the new book “Meditate Your Weight: A 21-Day Retreat to Optimize Your Metabolism and Feel Great.” “Before reaching out for the doughnut, as
TechnologyApril 7, 2016
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[Photo News] Ultimate stability
ULTIMATE STABILITY--Professional card stacker Bryan Berg builds a 3.3-meter-tall house of cards, the tallest of its kind built in 12 hours and a new Guinness World Record, on LG Electronics’ running front-load washing machine Centum, at an event organized by the tech giant in Seoul last month. (LGE)
TechnologyApril 7, 2016
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Samsung names 33 research projects to sponsor
Samsung Group on Thursday announced 33 research projects it intends to fund in the first half of this year. The group has sponsored a total of 231 research projects in basic science and material and information and communications technology fields since August 2013 as part of its efforts to help the nation secure futuristic fundamental technologies.The group plans to spend 1.5 trillion won ($1.3 billion) by 2022. This year’s list includes a study on sustainable amino acid synthesis by Seoul Nati
TechnologyApril 7, 2016