Most Popular
-
1
Korea’s homegrown nanosatellite successfully launches into space
-
2
Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
-
3
[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
-
4
Nicaragua shuts down Seoul embassy
-
5
Hybe's multilabel system tested amid conflict with Ador
-
6
Rocket engine expert, ex-NASA exec to lead Korea's new space agency
-
7
SNU profs to suspend treatment for one day
-
8
SK hynix pledges W20tr to ramp up DRAM production at home
-
9
Over-50s, men, single-person households take up majority of those filing for bankruptcy
-
10
Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
-
DSME delays STX France bid
Daewoo Shipbuilding & Marine Engineering has put its plans to acquire STX France on the back burner, the shipbuilder’s CEO Jung Sung-leep said Thursday. DSME CEO Jung Sung-leep. DSMEDSME had considered acquiring 66 percent stake in STX France upon request by its largest shareholder, state-run Korea Development Bank. KDB, which is also STX Group’s main creditor, has been pushing to sell off STX France and STX Finland as part of its efforts to restructure the defunct shipbuilding conglomerate. Spe
June 25, 2015
-
[Photo News] Good to Great
GOOD TO GREAT -- World-renowned barista Paul Bassett (sixth from left) poses with staff members of the newly opened branch of the Paul Bassett coffee chain in Hannam-dong, Seoul, Thursday. The coffee chain and its local partner Maeil Dairies launched a “value management” initiative to raise the bar in specialty coffee chain management in Korea. Paul Bassett
June 25, 2015
-
KAI launches W1.6tr small copter project
Korea Aerospace Industries, the nation’s sole aircraft manufacturer, launched its 1.6 trillion won ($1.4 billion) worth small-size helicopter development project Thursday. An image of KAI’s light civil helicopter to be codeveloped with Airbus Helicopters by 2020 KAI“The Defense Acquisition Program Administration, the Ministry of Trade, Industry and Energy, KAI-led consortium and Airbus Helicopters agreed to jointly finance the project to develop light armed and light civil helicopters,’’ KAI sai
June 25, 2015
-
[Graphic News] Population movement lowest in 40 years
The number of people who moved in May was the lowest in 40 years, data showed Wednesday.According to Statistic Korea, 606,000 people moved last month, a 1.2 percent decrease from the same time period last year.Data showed that this is the lowest number of people moving in May since 1975 (480,000 people).Experts suggest that the decrease in population movement is due to decreased domestic migration for school and work.A spokesperson from Statistics Korea said that different regions in Korea have
June 25, 2015
-
KCCI to hold 40th Jeju Forum
The Korea Chamber of Commerce and Industry will hold its annual summer forum on Jejudo Island from July 22-25, inviting the CEOs of its member companies and their families to gain new insights from guest speakers from diverse industries.The four-day event will take place at The Shilla Jeju hotel and offer a diverse range of not just academic seminars, but also recreational programs, in line with this year’s theme of “Encounter between Insight and Healing”.A number of renowned figures from Korea
June 25, 2015
-
S. Korea to ease rules to allow 4th mobile carrier
South Korea will unveil a package of deregulation measures for the country's mobile network market to facilitate the entry of a new player and give existing carriers more leeway, the government said Thursday.The local mobile market has long been dominated by three carriers -- SK Telecom Co., KT Corp. and LG Uplus Corp. The government turned down applications for a fourth player six times between 2010 and 2014."If a new business enters the market, it will spark competition, which will lead to a c
June 25, 2015
-
S. Korean biz groups have 237 firms in tax havens
More than half of big business groups in South Korea have set up companies in overseas tax havens, with SK Group, the nation's third-largest conglomerate, having the most, data showed Thursday. Out of 61 business groups with combined assets of more than 5 trillion won ($4.5 billion), 33 owned a combined 237 subsidiaries in countries on the European Union's tax haven blacklist as of end-2014, according to the data compiled by corporate tracker Chaebul.com. The figure accounts for 7.5 percent of t
June 25, 2015
-
Online fashion brand Bariedition lures K-pop fans
Bariedition, a local online fashion brand (http://en.bagazimuri.com/) is luring K-pop fans around the world with chic Korean fashion style. CEO Son Suk-ho started the business in 2005 and there were only five employees at the beginning. Now the number of employees has surged to 50 and its monthly revenue has exceeded 1 billion won ($890,000). Its offline store, located on the trendy fashion district of Garosu-gil, southern Seoul, has also become a popular tourist spot especially among visitors f
June 25, 2015
-
Elliott aims to exert votes by proxy to fight Samsung's merger bid
U.S. hedge fund Elliott Management said Wednesday it hopes minority shareholders will give their proxy votes to the fund for its fight against Samsung Group‘s move to merge two key units.Samsung C&T Corp., the construction arm of South Korea’s top conglomerate, Samsung Group, has been embroiled in a legal battle with Elliott since early this month as the fund voiced its opposition to an 8.9 trillion won ($8.09 billion) takeover offer by Cheil Industries Inc., the de facto holding firm of the con
June 24, 2015
-
[Herald Interview] Korea urged to set ambitious climate target
The international community is concerned about Korea’s possible retreat from its emissions reduction drive based on the four options proposed by the government for the post-2020 target.The government announced four options on June 10 to finalize Korea’s emission target by the end of this month. It plans to submit one target -- after a public consultation process -- to the U.N. before the Paris Climate Change Conference from Nov. 30-Dec. 11. “(Regarding the expectation for Korea’s post-2020 emiss
June 24, 2015
-
Online fashion brand Bariedition lures K-pop fans
Bariedition, a local online fashion brand (http://en.bagazimuri.com/) is luring K-pop fans around the world with chic Korean fashion style. CEO Son Suk-ho started the business in 2005 and there were only five employees at the beginning. Now the number of employees has surged to 50 and its monthly revenue has exceeded 1 billion won ($890,000). Its offline store, located on the trendy fashion district of Garosu-gil, southern Seoul, has also become a popular tourist spot especially among visitors f
June 24, 2015
-
Hyundai Life ties up with Taiwan’s Fubon
Hyundai Life Insurance CEO Lee Joo-hyuk announced Tuesday that it has established a strategic alliance with Taiwanese Fubon Life Insurance, a subsidiary of Taiwan’s Fubon Financial Holdings.Fubon Financial Holdings is a leading financial group in Taiwan with assets of 200 trillion won ($180 billion), and owns life and fire insurance firms and banks.Fubon Life Insurance has been selected as Taiwan’s best insurance company for three consecutive years and achieved a net profit of 1.3 trillion won l
June 24, 2015
-
S. Korea's int'l passenger traffic jumps in May
South Korea's international air passenger traffic jumped more than 20 percent in May from a year earlier on higher demand for air travel, government data showed Wednesday. The number of international travelers to and from South Korea soared 21.3 percent on-year to 5.44 million, according to the data compiled by the Ministry of Land, Infrastructure and Transport. The country's overall air passenger traffic spiked 23.9 percent to 8.03 million, with the number of domestic passengers also surging 29
June 24, 2015
-
Hyundai E&C wins $720 mln deal from East Timor
Hyundai Engineering & Construction Co., South Korea's No. 2 builder, said Wednesday that it has won a deal to build a seawall and other facilities in East Timor for around $720 million.The deal, which was initiated by the East Timor government, was jointly clinched by its affiliate Hyundai Engineering Co., the builder said in a regulatory filing. This marked the first contract that the company has ever won from East Timor.Under the contract, the two units of Hyundai Motor Group will build a seaw
June 24, 2015
-
Ex-presidential aide tapped to lead Pantech's potential buyer
South Korean optical manufacturer Optis Co., which is in talks to acquire cash-strapped smartphone maker Pantech Co., said Wednesday it has named a former presidential aide as its new head.Optis said it has named Byeon Yang-kyoon, a former presidential chief secretary for national policy, as the new chief. Byeon worked under late President Roh Moo-hyun in 2006.Last week, a Seoul court approved the Optis-led consortium's bid to sign a memorandum of understanding for acquisition with Pantech. The
June 24, 2015
-
[Newsmaker] NPS pressed on corporate reform
The National Pension Service, the nation’s largest institutional investor, is facing growing pressure to raise their voice in merger plans being pushed by conglomerates.On Monday, Solidarity for Economic Reform, a civic group pushing for reforms of family-controlled South Korean conglomerates, or chaebol, urged the fund to review the merger plan between SK Holdings and SK C&C and to decide whether to back or veto the deal before a shareholders meeting Friday. The merger plan between the two SK a
June 23, 2015
-
[Graphic News] Korea’s growth engine technology 3.8 years behind U.S.
South Korea’s technology level in its chosen growth engines is 3.8 years behind that of the United States, a ministry report found Tuesday.According to the Ministry of Science, ICT and Future Planning, there are 13 new growth engines that it would focus on developing, including 5G mobile communications, smart cars, intelligent robots, smart disaster safety management systems and the Internet of Things.However, when the ministry compared Korea’s technology in these sectors are compared to that of
June 23, 2015
-
Samsung heir apologizes over MERS handling
Samsung Electronics vice chairman Lee Jay-yong, the de facto leader of Samsung Group, Tuesday offered an official apology after a Samsung-affiliated hospital was blamed for being the epicenter of the spread of Middle East respiratory syndrome here. “I offer my sincere apology and deep regrets to the patients, bereaved families and all others who have suffered from the disease,” Lee said during a televised news conference after making a deep bow to the public. “My father is also hospitalized at t
June 23, 2015
-
[SUPER RICH] Korean cosmetics guru eyes young consumers to gain momentum
Charmzone chairman Kim Kwang-seok has returned to what he is good at: Making face cream.His skincare company -- once the dominant player in the Korean cosmetics market -- is seeking to get back on track with its newly launched antiaging cream. Charmzone chairman Kim Kwang-seok (Charmzone)“Cosmetics has become a daily necessity. I will start from the beginning to regain lost time and consumers,” the pharmacist-turned-entrepreneur said in an interview with The Korea Herald. The 31-year-old company
June 23, 2015
-
Hyundai E&C banks on ‘zero-energy’ technology
YONGIN, Gyeonggi Province ― Electrical appliances and lights switch on and off, while the balcony doors slide open, all by themselves in an empty house. This is not science fiction, but reality at Hyundai Engineering & Construction’s Green Smart Innovation Center in Yongin, Gyeonggi Province.However, rather than user convenience, the technologies behind such features were developed as part of the company’s plans to cut fossil use in housing, buildings and public infrastructure.Hyundai E&C, the c
June 23, 2015