Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Vitamin D deficiency grows in Korea
A growing number of Koreans are seeking medical attention for vitamin D deficiency, a common condition among those who do not get enough exposure to sunlight, a government report showed.According to the National Health Insurance Service, the number of Koreans who sought medical help for vitamin D deficiency increased ninefold from 2009-2013 ― from 2,027 to 18,637.“More people are now aware that vitamin D deficiency can affect one’s muscles, bones and immunity and is even associated with cancer,”
TechnologyJan. 22, 2015
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LG’s smartphone sales up 25% on-year in 2014
South Korea’s No. 2 tech giant, LG Electronics is estimated to have posted a 25 percent gain in its smartphone sales last year from a year earlier, industry sources said Thursday, taking a step closer to claiming the third spot in the global market.The combined smartphone shipment of LG Electronics is estimated at 59.6 million units for 2014, up from the 47.6 million units posted a year earlier, the sources said. Industry watchers earlier expected its sales would hover around 60 million units la
TechnologyJan. 22, 2015
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Hyundai Motor to tighten belt
Hyundai Motor, the nation’s largest automaker, said on Thursday that although the company had achieved growth in car sales and revenue last year, its profits dropped to a four-year low. The carmaker said it sold a total of 4.96 million vehicles last year, up 4.8 percent from 2013. It posted 89.3 trillion won ($82.2 billion) in sales, a 2.2 percent rise from the previous year. Despite higher sales, its operating profit fell 9.2 percent to 7.55 trillion won ($6.96 billion) in 2014 over 2013. This
IndustryJan. 22, 2015
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Analysts upbeat on Jeju Air
A sanguine outlook is expected for Jeju Air, South Korea’s largest low-cost airline owned by Aekyung Industrial, ahead of its initial public offering set for the second half of the year.With a growing number of Korean passengers opting for no-frills airlines to cut costs, Jeju Air has been expanding its market share ― both in domestic and international flights ― as the country’s first budget carrier since it took to the skies in 2005. A passenger aircraft of Jeju Air. ( Jeju Air)Now the airline
IndustryJan. 22, 2015
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GM Korea unveils latest Cruze model in local market
GM Korea Co. uncloaked on Thursday the latest edition of its Cruze compact car that comes with an upgraded design for the sedan first introduced in the local market in 2011. “The Amazing New Cruze 2015 is just the first step of much more to come,” said Sergio Rocha, head of GM Korea during a media event held in western Seoul. “This year, we’ll have 10 launch events in South Korea, starting today with the Cruze 2015.” Sergio Rocha, president and CEO of GM Korea, poses in front of the “Amazing New
IndustryJan. 22, 2015
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Missha announces domestic downsizing, global expansion
Missha’s store in Ankara. (Able C&C)Missha, South Korea’s first successful budget cosmetics brand, has announced plans to downsize domestic operations and instead head to Europe.“The budget cosmetics market in Korea is overly competitive, and has hit the ceiling. We are going to open several stores in three European countries including Germany,” said Kim Hong-tae, PR official at Able C&C, the mother company of Missha, to The Korea Herald on Thursday. The first store in Germany will open in the c
IndustryJan. 22, 2015
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POSCO ranks 36th in global 100 sustainable firm index
POSCO chairman Kwon Oh-joon (center), along with high-level government officials from Korea and India, attends the launching ceremony for the steelmaker’s cold rolling mill in Maharashtra, India, Thursday. (POSCO)POSCO, a leading South Korean steelmaker, ranked 36th on an index of the most sustainable companies in the world.The steel giant’s rank was the highest mark among four South Korean companies listed on the 2015 Global 100 Most Sustainable Corporations in the World Index.POSCO, recognized
IndustryJan. 22, 2015
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KEB named Korea’s top trade financer
Moon Kwang-chan (right), the head of KEB’s Amsterdam branch, shakes hands with Joseph Giarraputo, the publisher and cofounder of Global Finance, at an award ceremony in Amsterdam on Wednesday. (KEB)The Korea Exchange Bank won a trade financing award from U.S. magazine Global Finance, bank officials said Thursday. The New York-based monthly finance magazine named KEB Best Trade Finance Bank in Korea for the 14th time, in recognition of its superior performance in terms of transaction size, market
Jan. 22, 2015
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Choi calls for globalization of Korea’s service sector
South Korea’s service industry needs to turn outward and become globalized so it can play a greater role in spurring economic growth and contribute to job creation, the country’s top economic policymaker said Thursday.Holding talks with business leaders in the Incheon free economic zone west of Seoul, Finance Minister Choi Kyung-hwan claimed that the long-held perception of the service sector having nothing to do with trade is outdated, especially as countries around the world are reaching free
Jan. 22, 2015
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Asia to benefit from low oil prices: Barings
Falling oil prices will continue to benefit most oil importing countries, especially in Asia, said Baring Asset Management in a report on Thursday.The downtrend is likely to continue during the first half of this year, though at a slower pace than before, according to the London-based company.“All countries of the Asian emerging market, except Malaysia, are oil importing countries and thus beneficiaries of the low oil prices,” the report said.“If only the oil prices remain in the lower level for
Jan. 22, 2015
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Samsung snubs Qualcomm chips
Samsung Electronics Co. will use its own microprocessors in the next version of the Galaxy S smartphone, dropping its use of a Qualcomm Inc. chip that overheated during the Korean company’s testing, people with direct knowledge of the matter said. Samsung, the world’s largest smartphone maker, tested a new version of Qualcomm’s Snapdragon chip, known as the 810, and decided not to use it, the people said, asking not to be identified because the issue hasn’t been discussed publicly. Qualcomm shar
TechnologyJan. 22, 2015
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BISSELL targets W10b in Korean vacuum cleaner sales
BISSELL, a U.S. vacuum cleaner and floor care product manufacturer, said Thursday that it aimed to achieve 5 billion won to 10 billion won ($4.6 million-$9.2 million) in sales in its first year in Korea. The Michigan-based company is planning to enter the market by launching its latest model, the Symphony All-in-One, on TV homeshopping channels.“Korean consumers are peculiar when it comes to cleaning and choosing floor care products with high technology,” BISSELL Asia regional brand manager Evel
IndustryJan. 22, 2015
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KT&G’s net jumps 45.5% in 2014 on strong sales
KT&G Corp., South Korea’s state-run tobacco producer, said Thursday its net profit jumped 45.5 percent in 2014 from a year earlier, driven by an increase in domestic sales ahead of a sharp price hike. Net income came to 813.8 billion won ($751.9 million) last year, compared with 559.3 billion won in 2013, the company said in a regulatory filing. Operating profit went up 15.6 percent on-year to 1.17 trillion won last year, and sales gained 7.6 percent to 4.11 trillion won, it said.The numbers ref
Jan. 22, 2015
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Daewoo Shipbuilding wins $800 mln worth of orders for LNG carriers
Daewoo Shipbuilding & Marine Engineering Co., the world's second-biggest shipyard, has signed deals worth a combined $800 million to build four liquefied natural gas carriers, the shipbuilder said Thursday.Under the deals signed Wednesday with Korea Line Corp. and Hyundai LNG Shipping Co., the shipbuilder will deliver the LNG carriers by May 2017, the company said in an e-mailed statement. The latest orders are the first for Daewoo Shipbuilding in 2015.The state-run Korea Gas Corp. had placed or
CompaniesJan. 22, 2015
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State regulator seeks criminal charges against Uber
The Korea Communications Commission, the nation’s top telecom regulator, said Thursday it would file a complaint against Uber Korea with the prosecution on charges of violating laws related to telecommunication information.The decision came after the Seoul Metropolitan Government requested last week that the state regulator ban Uber’s services, which it said had breached laws related to location-based services.(Bloomberg)The local government has stepped up its efforts to keep the taxi-hailing ap
TechnologyJan. 22, 2015
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GM Korea unveils latest Cruze model in local market
GM Korea Co. uncloaked on Thursday the latest edition of its Cruze compact car that comes with an upgraded design for the sedan first introduced in the local market in 2011. "The Amazing New Cruze 2015 is just the first step of much more to come," said Sergio Rocha, head of GM Korea during a media event held in western Seoul. "This year, we'll have 10 launch events in South Korea, starting today with the Cruze 2015.""You should expect new innovations on both the Chevrolet, our mainstream brand,
MobilityJan. 22, 2015
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KT&G's net jumps 45.5 pct in 2014 on strong sales
KT&G Corp., South Korea's state-run tobacco producer, said Thursday its net profit jumped 45.5 percent in 2014 from a year earlier, driven by an increase in domesticsales ahead of a sharp price hike.Net income came to 813.8 billion won ($751.9 million) last year, compared with 559.3 billion won in 2013, the company said in a regulatory filing. Operating profit went up 15.6 percent on-year to 1.17 trillion won last year, and sales gained 7.6 percent to 4.11 trillion won, it said.The numbers refle
CompaniesJan. 22, 2015
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S. Korea central bank suggests further rate cuts on hold
South Korea's central bank governor on Thursday appeared to rule out any further rate cut in the short term, and said the bank's decision to slash its 2015 economic growth was no cause for pessimism.After two rate cuts last year, the Bank of Korea's benchmark rate is currently at a record-equalling low of 2.0 percent -- a level not seen since 2009-10 when Asia's fourth-largest economy was seeking to recover from the global financial crisis.Some analysts have predicted a further cut of 25 basis p
Jan. 22, 2015
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LG's new curved smartphone to hit shelves this month
South Korea's No. 2 tech giant, LG Electronics Inc., said Thursday that it will roll out its latest version of its curved-smartphone lineup on its home turf later this month and gradually expand its sales to overseas markets.The G Flex 2, with a Full HD 5.5-inch display, will become LG's second smartphone that boasts a display curving inward from top to bottom and slightly from right to left but will be slightly smaller than its 6-inch predecessor, the company said.The latest model was showcased
CompaniesJan. 22, 2015
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BOK chief plays down further rate cut
South Korea's top central banker on Thursday took a cautionary stance on the country's ever-growing household debt level, seemingly taking a step back from an additional rate cut."Because of the increase in household debt since October, we are very closely paying attention to ensuring financial stability in Korea," Bank of Korea Gov. Lee Ju-yeol told reporters when asked about the central bank's monetary policy.The BOK will take time to measure the effects of last year's rate cuts in August and
Jan. 22, 2015