Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Medical standoff deepens as doctors reject new med school plan, talks
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[Herald Interview] Why Toss invited hackers to penetrate its system
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[Graphic News] 77% of young Koreans still financially dependent
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Korean, Romanian leaders discuss defense tech, nuclear energy
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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Burberry sells cosmetics via Kakao
British fashion brand Burberry has joined forces with Korea’s leading IT platform company Kakao to introduce its latest 2016 Spring-Summer Ready-to-Wear collection. The users will be also able to participate in various promotions through KakaoTalk, watch the latest fashion show through Kakao TV and even purchase cosmetics goods featured at the show (and send it to a friend) through the KakaoTalk gift service. Burberry has previously collaborated with Apple Music, Naver LINE and Snapchat. By
Sept. 24, 2015
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S. Korea, China, Japan hold three-way free trade talks
South Korea, China and Japan Thursday began their eighth round of talks in Beijing to forge a three-way free trade deal, the latest negotiations that so far have produced little progress. Since launching the talks in late 2012, the three nations have made little headway toward a deal that, if successful, would create one of the world's biggest economic blocs with a combined gross domestic product of $15 trillion. The chief trade negotiators -- South Korean Deputy Trade Minister Kim Hak-do, an
Sept. 24, 2015
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Diesel car ratio hits all-time high in S. Korea
The proportion of diesel-engine cars among newly registered vehicles in South Korea hit an all-time high during the first half of this year, pointing to their strong popularity among fuel efficiency-conscious consumers, industry data showed Thursday. The strong presence of diesel cars over gasoline-engine vehicles, however, could weaken as controversy is deepening over Volkswagen's cheating on diesel engine emission tests in the United States, some observers said. According to industry data, d
Sept. 24, 2015
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Fast-growing German carmakers face setbacks in Korea
German carmakers have enjoyed ample success in South Korea over the past decade but are now beset by scandals that could hurt their reputation and sales. With BMW facing a massive recall order and Mercedes-Benz struggling to quell controversy over its aftersales service, Volkswagen’s latest emissions-fixing scandal has brought a new low to the three giants -- who together account for more than half of the local foreign car market.According to the Korea Automobile Importers & Distributors Associa
Sept. 23, 2015
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SK Chemicals to issue new shares worth W200b
SK Chemicals, SK Group’s chemical manufacturing unit, said Wednesday that it will issue new shares worth around 200 billion won ($170 million) in a bid to raise funds for its future businesses, including biopharmaceuticals and environmentally friendly materials. The paid-in capital increase will take place through a public offering, according to the company. The per-share price has been set at 57,800 won, which is 20 percent cheaper than the current market price. The company said the newly acq
Sept. 23, 2015
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Caffe Bene appoints new CEO
Coffee shop franchise operator Caffe Bene on Wednesday appointed Choi Seung-woo as the company’s new CEO. Choi, who graduated from Seoul National University and has served as CEO of Woongjin Food, has been commissioned to put Caffe Bene on the global map. Founder and chairman Kim Sun-kwon, who had worked as the CEO, will now focus on projecting the overall direction and vision to open 10,000 outlets around the world by 2020. “In order to bring up Caffe Bene to the level of global franchise corp
Sept. 23, 2015
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Hanwha buys car plant automation company
Hanwha Energy has bought SIT, a plant automation company, from Seoul-based private equity fund firm SkyLake, the company said Wednesday.Hanwha completed its buyout deal with SkyLake for about 130 billion won ($109.4 million), reportedly beating out KyungDong City Gas and Kiturami Boiler.Industry insiders said the latest acquisition would help Hanwha Group reinforce its automation system in the manufacturing sector, including its affiliates Hanwha Techwin, Hanwha L&C and Hanwha Chemical.SIT was e
Sept. 23, 2015
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Yuhan-Kimberly leads flexible work culture
Yuhan-Kimberly, the country’s leading producers of tissue and personal care products, continues to evolve its flexible work culture in order to enhance productivity and competitiveness. The company has adopted what it calls a “Smart Work” approach since 2011, offering its employees the freedom to choose their working time and locations with the responsibility to meet business needs. “A growing number of enterprises have started realizing the necessity of new ways of working in order to proactive
Sept. 23, 2015
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SK builds Europe’s largest lubricant base oil plant
South Korea’s SK Group, in partnership with Spain’s largest oils and gas company Repsol, is geared to expand its presence in Europe with the construction of the region’s largest lube base oils production facilities in Cartagena, Spain. SK Lubricants -- the conglomerate’s lube base oils producing unit -- held a ceremony at the plant’s site Tuesday to mark the completion of the new facilities, established by the Iberian Lube Base Oils Company -- a 7:3 joint venture between SK Lubricants and Repso
Sept. 23, 2015
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Homeplus employees walk out over job security
Unionized workers at Homeplus walked off their jobs on Wednesday ahead of a busy holiday season, demanding that MBK Partners, a Seoul-based private equity fund that acquired South Korea's No. 2 discount retail chain, guarantee their job security. Early this month, MBK Partners sealed a $6.1 billion contract in the nation's largest-ever buyout deal to take over Britain-based retail giant Tesco Plc's Korean unit. Although MBK earlier promised to respect the current terms of its members' employm
Sept. 23, 2015
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S. Korea to retest fuel efficiency of Volkswagen vehicles: sources
South Korea will conduct fuel efficiency tests on imported Volkswagen models again amid a growing controversy over the German carmaker accused of cheating diesel engine emission test results, government and industry sources said Wednesday. Last week, the U.S. Environmental Protection Agency said that Volkswagen used software that activates emission controls only when the car is going through official testing. Some suspect that the pollution level could be 40 times higher in case the controls ar
Sept. 23, 2015
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Lotte steps up efforts to defend duty-free stores in Seoul
South Korean retail giant Lotte Group is stepping up efforts to defend two of its duty-free stores in downtown Seoul whose operational licenses are nearing expiration, in the face of challenges from other retailers eyeing the lucrative bid. Lotte Duty Free, the nation's No. 1 operator and the world's fifth-largest, said Wednesday it will submit bids with the Korea Customs Service for two stores in Seoul as their operational licenses are set to expire in December. One is located in major shoppin
Sept. 23, 2015
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Daum Kakao sets sail under new name, chief
Daum Kakao Corp., the operator of South Korea's most popular mobile messenger KakaoTalk, renamed itself and appointed a new chief executive officer on Wednesday, marking a turning point almost a year after its merger. At an emergency meeting, shareholders approved plans to rename itself Kakao and appoint nominee Rim Ji-hoon the new chief executive, the company said in a regulatory filing. In October last year, leading search engine operator Daum Corp. merged with Kakao Corp., which started out
Sept. 23, 2015
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BMW to recall over 55,000 cars sold in S. Korea
BMW Korea, the local importer of the German luxury automobile brand, is recalling 55,737 cars sold in South Korea for problems found in timing belt tensioners, the transportation ministry said Wednesday. According to the Ministry of Land, Infrastructure and Transport, a combined 24 BMW and MINI models have faulty tensioners that can cause the vehicles to lose power while being driven. MINI is part of BMW AG that specializes in small cars. All of the affected cars were built between Nov. 13,
Sept. 23, 2015
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CGV opens 50th theater, decade after advancing to China
CJ CGV, one of South Korea's largest multi-screen cinema chains, opened its 50th theater in China Wednesday, 10 years after it made a foray into the fast-growing Chinese market, the company said. A new CGV theater with 10 screens, including an IMAX, opened its doors to the public at a large shopping mall in Foshan, Guangdong Province, making it the 50th such theater in China. Including the new facility, CGV currently operates 50 chain theaters with 401 screens in 28 cities around the country.
Sept. 23, 2015
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KT to invest 13 tln won in securing new growth engines
South Korea's No. 2 mobile carrier KT Corp. said Wednesday it plans to invest 13 trillion won ($10.9 billion) until 2020 to find new sources of profits and tap deeper into the intelligent industry. Under the plan, KT will establish the Intelligent GiGA Infra, which connects the latest technologies, including cloud computing and big data. The announcement of the massive investment plan coincides with the 130th anniversary of KT, which started out as a state telegram organization in 1885. "Thro
Sept. 23, 2015
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SK Telecom, Samsung to join hands for key IoT tech
South Korea's top mobile carrier SK Telecom Co. said Wednesday it has agreed to cooperate with Samsung Electronics Co. on a power-efficient network technology utilized for Internet of Things products. Under the deal, SK Telecom and Samsung will develop the Low Power Wide Area Networks technology, which allows long-range communication with less energy consumption. SK Telecom said it aims to develop new modules that use the LPWAN technology. The telecom company said the technology can be applied
Sept. 23, 2015
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Hyundai Motor workers go on partial strike
Unionized workers at Hyundai Motor Co. went on partial strike Wednesday, raising worries that a prolonged walkout could deepen woes for the country's largest automaker, which is already facing tough business conditions at home and abroad. The strike came after both sides failed to produce a breakthrough the previous day over a pay raise and other working conditions. This marked the fourth consecutive year a walkout has taken place at Hyundai Motor. The strike started with morning-shift workers
Sept. 23, 2015
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KORAIL under fire for lax security
The state-run Korea Railroad Corp. has come under fire as its courier service is increasingly being used to send illegal drugs across the country due to the lax security measures. Between 2012 and August this year there were nine attempts to smuggle narcotics by using the railroad operator’s express delivery service, according to data released on Monday. The data from KORAIL Networks, an affiliate of KORAIL in charge of the service, showed that two cases were detected each in 2012, 2014 and this
Sept. 22, 2015
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Lotte, Samsung lock horns in race to lure Chinese tourists
With the influx of Chinese tourists and their spending at duty-free stores snowballing, Lotte Group and Samsung Group have locked horns in the services and retail industries, striving to win the favor of Chinese consumers.Their affiliates -- Hotel Shilla, with Samsung Group, and Hotel Lotte as well as Lotte Duty Free -- have been placed at the forefront to win the hearts of Chinese tourists, who have been known to spend an average of $2,094 during their stay, according to data from the Korea Tou
Sept. 22, 2015