Most Popular
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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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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[KH Explains] No more 'Michael' at Kakao Games
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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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Samsung chief bolsters ties with Germany’s Zeiss
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Kolon, Aker Solutions to establish joint oil and gas venture
Kolon Water & Energy said Tuesday it will establish a joint venture with Norway’s Aker Solutions to enter the oil and gas solution business to diversify its portfolio in the energy sector. The energy unit of Kolon Industries Inc., which offers water and energy solution as well as sewage and waste processing services, said it will invest in half of the stake of the joint venture with the Norwegian company that has recognized technology in offshore plants.“Kolon Water & Energy aims to become the t
IndustryJuly 8, 2014
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Seoul begins test for new vehicle accident avoidance system
South Korea launched testing to verify the effectiveness of its new vehicle-crash avoidance technology, the government said Tuesday, in a step toward building accident-free highways.The accident avoidance system uses the so-called wireless access in vehicular environment technology that enables vehicle-to-vehicle as well as vehicle-to-infrastructure communication, allowing checks for any changes to the driving environment such as road conditions, according to the Ministry of Land, Infrastructure
MobilityJuly 8, 2014
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Budget airlines expand market presence in Korea-Japan route
Budget airlines are rapidly expanding their market presence in the South Korea-Japan routes, despite an overall drop in passenger traffic between the two neighboring countries, industry data showed Tuesday.According to figures released by Korea Airport Corp. and individual airlines, low-cost carriers from the two countries handled 756,200 passengers in the first five months of 2014. This represents an average 76 percent increase from 245,000 people they ferried between South Korea and Japan in 2
IndustryJuly 8, 2014
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[Herald Interview] ‘Being a brand is being responsible’
Very few South Korean low-to-mid-range accessory makers survived after the influx of cheaper Chinese products in the 2000s. They remained anonymous as outsourcers for the global market or nestled in online markets. JMarkers, the company behind the accessory brands accessory kitchen and Rustik, is a rare breed, building up its own brand and exporting products under its own brand. Established in 2011 by Jake Han and Jeen Park, JMarkers runs seven stores and sells its tems at two select shops. It a
BusinessJuly 8, 2014
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Shin Ramyun sticks to basics but accepts diversity
The secret to the worldwide success of Shin Ramyun, Nongshim’s signature red-hot spicy instant noodles, lies in the company’s unwavering determination to stick to its original flavor, according to Park Jun, the chief executive of noodle maker Nongshim. “My belief is that what is most Korean is the most global,” Park said in an interview with The Korea Herald. “Sometimes you lose the quintessential characteristics of the product by following local trends or characteristics. But the tongue-achingl
BusinessJuly 8, 2014
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Lotte DFS to hold Family Concert
Lotte Duty Free Shop will hold its 18th Family Concert, inviting 120,000 K-pop fans to enjoy the performances of top-tier entertainers at Jamsil Stadium in Seoul on Aug. 29, 30 and 31. The Aug. 29 event will be held as a fan meeting for foreign fans of actors Kim Soo-hyun and Park Hae-jin. Songstresses Lynn and Yunha will perform the original soundtracks of TV dramas the actors starred in. On Aug. 30 singers Lee Seung-hwan, Kim Bum-soo, Hwisung and Ailee will perform, followed by pop bands EXO,
IndustryJuly 8, 2014
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Japanese diner Mitaki opens in Busan
Global Japanese restaurant Mitaki on July 1 opened its first Korean outlet on Dalmaji Road in Haeundae, Busan. The menu items include the top-ranking course-meal kaiseki, teppanyaki, tempura, sushi and others. Teppanyaki will be cooked upon order to secure freshness and quality.The 140-seat restaurant will be led by Kazuo Zuauki, who served as chief executive chef at the trendy Nakamura Gourmet in Japan. The diner has terrace seats and private rooms for banquets and special occasions. (baejisook
IndustryJuly 8, 2014
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[Herald Interview] Heerim aims to be Asia’s top architecture firm
South Korean architectural firm Heerim Architects & Planners is aiming to make its services available to more countries around the world, mostly to emerging regions where architectural know-how is in big demand. “Heerim hopes to become Asia’s No. 1 and the world’s fifth (largest)global architectural service provider by 2020,” Heerim’s chief executive Jeong Young-kyoon told The Korea Herald in an interview. “My goal is to plant our architectural style in as many places as I can.”To jump into a le
BusinessJuly 8, 2014
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Caffe Bene opens 2 shops in U.S.
Caffe Bene opened two outlets in New Jersey in the U.S., targeting commuters to the Big Apple. Caffe Bene Hoboken is situated near Hoboken train station, among pubs and clubs frequented by commuters to Manhattan. Lower Manhattan can be seen through the windows on the second floor, the cafe franchise said. Caffe Bene in New Brunswick is located near Rutgers University and the New Brunswick train station. Those who spend more than $10 will be given a free coffee mug to celebrate the opening.Caffe
IndustryJuly 8, 2014
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KEB chief says early merger talks ‘inevitable’
The head of Korea Exchange Bank raised the need to begin early merger talks with its parent group, Hana Financial, lending support to the group chief executive’s remarks that hinted at an integration of the banking affiliates before the agreed-upon 2017 deadline, KEB said Tuesday.In a July 7 written message to bank employees, KEB chief executive Kim Han-jo said, “We are in a situation where early integration talks are inevitable as profitability weakens and the management environment worsens ami
July 8, 2014
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Lotteria opens first store in Cambodia
South Korean fast food restaurant Lotteria opened its first outlet in Phnom Penh on June 30. Situated inside the Aeon Mall, the restaurant is focusing on chicken and beef dishes, reflecting Cambodian tastes, including a general avoidance of pork. This is the 230th overseas diner for Lotteria, including ones in Vietnam, Indonesia, China and Myanmar. The fast food unit of business conglomerate Lotte is hoping to open 20 more franchises by 2018 in Cambodia by teaming up with the local restaurant gr
IndustryJuly 8, 2014
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Su:m37 releases cleansing balm
LG Household and Health Care’s makeup brand, Su:m37, released Skin Saver Melting Cleansing Balm containing fermented apricot seed oil and vitamin C oil. The solid formula melts smoothly when applied to the skin, but thoroughly removes leftover makeup as well as sebum in the pores. Vitamin A, tocopherol and minerals in the apricot seed oil has a moisture-capturing effect while the vitamin C oil with vitamin C derivatives brings about a clearer and brighter skin tone, the company said.The 100 mill
IndustryJuly 8, 2014
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KEB chief says early merger talks "inevitable"
The head of Korea Exchange Bank (KEB) raised the need to begin early merger talks with its parent group, Hana Financial, lending support to the group chief executive's remarks that hinted at an integration of the banking affiliates before the agreed-upon 2017 deadline, KEB said Tuesday.In a July 7 written message to bank employees, KEB chief executive Kim Han-jo said, "We are in a situation where early integration talks are inevitable as profitability weakens and the management environment worse
July 8, 2014
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S. Korea's property price-to-income ratio falls, Gangnam weathers trend
The level of house prices in comparison with income in South Korea is trending lower, with the exception of the posh Gangnam area, where property prices still run high, data showed Tuesday.The so-called price-to-income ratio (PIR) came in at 23.4 in Asia's fourth-largest economy last year, nearly halving from an average of 42.3 between 1986 and 2013, according to the data by the Bank of Korea and Kookmin Bank. The ratio roughly provides a clue to whether housing prices are expensive or cheap giv
July 8, 2014
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Robbers grab $36 million Samsung electronics in Brazil
Around 20 armed robbers raided a Samsung plant in southeastern Brazil on Monday, leaving with 40,000 smartphones, laptops, tablets and other electronics worth $36 million that were loaded in seven trucks, police said.The thieves arrived after midnight at the plant in Campinas, a city near Sao Paulo, taking guards and 200 employees hostage, a local police spokesman told AFP.Witnesses told the G1 news website that the robbers, who had staff ID badges, were not aggressive. They ordered everyone to
IndustryJuly 8, 2014
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Samsung puts Q2 profit at disappointing 7.2 tln won
Samsung Electronics Co., the world's biggest technology firm by revenue, estimated its second-quarter operating profit at a sharply lower than expected 7.2 trillion won (US$7.11 billion) on Tuesday amid a slowdown in its smartphone business.The preliminary estimate represents a 24.4 percent fall from the operating profit of 9.53 trillion won a year earlier, the company said in a regulatory filing. The figure also marks a 15 percent crash from the operating profit of 8.49 trillion won posted duri
TechnologyJuly 8, 2014
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Finance minister nominee mulls relaxing mortgage rules
President Park Geun-hye’s Finance Minister nominee Choi Kyung-hwan on Monday reiterated that he may seek to ease the nation’s housing market regulations in a move to help prop up the sluggish local property market.In a written answer to questions from lawmakers ahead of a confirmation hearing scheduled for Tuesday, Choi Kyung-hwan also said that he was not considering a supplementary budget at the moment, but that it would be an option if the economy falls into a recession. President Park tapped
July 7, 2014
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[SUPER RICH] Starstruck fans fuel royal fashions
The word “fashion” in French connotes high society. Although the word is now more commonly taken to mean “a widely popular style,” its upper-class associations are what the public yearned for when it first came into use. People still want to imitate the lifestyle of the upper class, and in some societies, the upper class is royalty. For instance, in Europe, where there are still princes and princesses, the starstruck public is frantic to keep up with each and every detail of the fashions of roya
IndustryJuly 7, 2014
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[SUPER RICH] Long and winding road to ownership
Third-generation succession of a founding family has become a big issue for family-run South Korean conglomerates after Samsung Group faced a governance crisis in the wake of the sudden hospitalization of chairman Lee Kun-hee in early May. The nation’s top conglomerate, however, regained stability faster than expected by moving quickly and smoothly toward succession. The tech giant announced in May it would list IT solutions affiliate Samsung SDS on the main bourse within the year, which is expe
IndustryJuly 7, 2014
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First class-action suit filed over inflated fuel economy
Six carmakers, including two Korean and four foreign companies, have been hit with an unprecedented class-action lawsuit here for making bogus fuel-economy claims on their top-selling models. A group of 1,785 car owners filed a lawsuit with the Seoul Central District Court on Monday, seeking between 1.5 million won and 3 million won ($1,490-$2,960) each in compensation over the false gas mileage claims. Of them, 1,517 people ― or about 85 percent ― were owners of Hyundai Motor’s Santa Fe sport u
MobilityJuly 7, 2014