Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul Metro to seek legal action against malicious complaints
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Illit, mired in controversy, remains on Billboard charts for 5th week
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Hyundai Heavy targets early retirement objectors
Concerns over labor conflicts are rising again at Hyundai Heavy Industries as the shipbuilder reportedly tried to penalize those who refused to take the latest early retirement program, the firm’s voluntary workforce cut plan.The HHI branch of the Korean Metal Workers’ Union, the nation’s biggest umbrella union, claimed that a number of its members working for the shipbuilder were subjected to unreasonable demands by the management since they rejected the voluntary retirement scheme, which it be
April 13, 2015
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Urban duty-free bidding war rages
Hyundai Development and Hotel Shilla’s announcement on Sunday to join forces to win a license for an urban duty-free store in Seoul has spurred fresh competition among domestic retailers to grab their share of the 3.2 trillion won ($3 billion) urban duty-free industry.The bidding, managed by the Korea Customs Service, will start in June, with two out of three slots in Seoul allocated to large enterprises and the last reserved for a small- to mid-sized firm. But the “war,” in particular among ret
April 13, 2015
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[Herald Interview] Well-being market on the rise in aging society: Amway scientist
Thanks to improvements in diet, sanitation, technology and medical advancements, the average life expectancy has surged dramatically worldwide over the past decades. Those born in the developed countries are now expected to live past 80, according to recent data by the National Institute on Aging.Faced with changing priorities and a longer lifespan, people around the globe are focusing more on their health than ever before, seeking to improve their quality of life through various measures, accor
April 13, 2015
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K-water spurs global expansion with smart solutions
The state-run Korea Water Resources Corp., better known as K-water, is seeking growth opportunities internationally with its smart water management technology.Taking the 7th World Water Forum as a platform for global marketing, the state-run water resources management corporation is stepping up promotions of its advanced water technologies to the world, while seeking to gain a foothold to enter overseas water markets. The international water event is being held in Daegu and North Gyeongsang Prov
April 13, 2015
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KRC pushes joint projects with Egypt, Thailand
Korea Rural Community Corp. president Lee Sang-mu met with Thai counterparts to discuss Korea’s renovation deals on Thai dam facilities, the KRC said Monday. The KRC chief had in-depth talks with Lertviroj Kowattana, the chief of the Royal Irrigation Department of Thailand, to discuss renovation projects for the Rama VI Dam and water lock gates.In addition, Lee and Kowattana also discussed the Korean pilot development businesses in Pran Buri and Phetchaburi, Thailand, to set up the water managem
April 13, 2015
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S. Korea takes up nearly half of global smart TV market
South Korea took up nearly half of the global smart TV market in 2014, data showed Monday, with Samsung Electronics Co. and LG Electronics Inc. being the only tech players to post a two-digit share.The combined market share held by the two came to 43.4 percent last year, with Samsung accounting for 28.2 percent and LG for 15.2 percent, according to the data compiled by market tracker DisplaySearch.Other global rivals were far behind the two South Korean players, with Japan's Sony Corp. posting 7
April 13, 2015
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KDB dismisses rumors on DSME-STX merger
The largest shareholder of Daewoo Shipbuilding and Marine Engineering has denied speculation about the shipbuilder’s takeover of its debt-ridden rival, STX Offshore and Shipbuilding.The state-run Korea Development Bank, the main creditor of DSME, said Sunday that speculation about DSME’s takeover was “unrealistic.”“Merging KOSPI-listed DSME and STX, which is under a restructuring program, would most definitely anger shareholders,” a KDB official said on condition of anonymity. “The rumor is simp
April 12, 2015
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Leaders call for global cooperation at water forum
Under the slogan of “Water for our Future,” the seventh World Water Forum kicked off in Daegu on Sunday with an opening ceremony attended by over 3,000 international and domestic high-ranking officials.It marks the start of the largest international event to discuss water-related issues, with speakers encouraging the international community to become active stakeholders in implementing solutions for the world’s water challenges. Key speakers included President Park Geun-hye and Benedito Braga, p
April 12, 2015
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Local firms to cut recruitment by 3.6 pct in 2015: poll
South Korean companies are expected to cut their hiring of new workers by more than 3 percent in 2015 due mainly to a weak recovery of the national economy, a poll showed Sunday. The survey of 377 companies nationwide with a workforce of 100 or more showed that they plan to reduce their recruitment of new employees by 3.6 percent this year from a year earlier. Of the companies polled, large companies with 300 workers or more responded that they would slash new hirings by 3.4 percent this year,
April 12, 2015
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Samsung handsets emit less electromagnetic waves than iPhones
Samsung Electronics Co.'s handsets emit less electromagnetic waves than Apple Inc.'s iPhones, a research report showed Sunday, with the low-end Galaxy Mega smartphone being the No. 1 radiowave-safe product. According to the research conducted by market tracker Cnet in France, the Specific Absorption Rate, a measure of emission of electromagnetic fields, came to 0.142 watts per kilogram for the Galaxy Mega, hovering far below the 0.972 W/kg by Apple's latest iPhone 6. The global industry requ
April 12, 2015
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S. Korea exports to dip 1.9 pct this year: BOK
South Korea's exports are likely to drop nearly 2 percent in 2015 from a year earlier due to falling oil prices and other negative external factors, the central bank said Sunday. In its latest outlook, the Bank of Korea predicted the nation's customs-cleared exports to come to $562 billion this year, down 1.9 percent from the previous year. Outbound shipments are expected to shrink 3.6 percent in the first half of this year from a year earlier, and inch down 0.2 percent in the second half of
April 12, 2015
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[Weekender] World Water Forum to focus on solutions
As a resource more important to humans than perhaps any other, water touches upon every aspect of human life ranging from food and energy security to societal and environmental health.In recent years, water has become a centerpiece of global attention, for the total supply of the earth’s water is expected to drop by 40 percent by 2030 unless the world drastically improves the management of this important natural resource, according to the 2015 U.N. Water Development Report.Reinforcing the need f
April 10, 2015
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[Weekender] Korea’s top bottled-water brand Samdasoo taps overseas markets
Having a clean and natural brand image is the most crucial asset in the bottled-water business, said the CEO of the country’s best-selling drinking water producer. “Many companies have been trying to emulate our success, but couldn’t follow suit. The clean and beautiful image of Jejudo Island, the source of our water, differentiates us from others,” said Kim Young-chul, CEO of Jeju Special Self-Governing Province Development Corporation, which produces Samdasoo, meaning water of Jejudo.Samdasoo
April 10, 2015
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[Weekender] Big businesses dig for ‘blue gold’ market
South Korean conglomerates are cashing in on the promising global water market, with the water shortage emerging as a global agenda. According to Global Water Intelligence, a U.K.-based water industry research firm, the size of the world’s water treatment market is forecast to expand up to $1 trillion by the end of 2015. Betting on the industry’s high growth potential, Korean players have sharpened their competitiveness in the “blue gold’’ sector, where European water giants like Veolia and Suez
April 10, 2015
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[Weekender] K-water harnesses tech convergence
Korea Water Resources Corp., better known as K-water, is giving an impetus to its smart water management system in a bid to increase water and energy efficiency in water supply systems by making use of advanced ICT technologies. The state-run water resources management corporation adopted the Smart Water Management Initiative, which underlines the convergence of information, communication and technology into the water management process, aiming to maximize water resource efficiency. “The future
April 10, 2015
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Competition heats up for Samsung, Hyundai Motor entrance exams
After months of preparation and studying, more than 110,000 job seekers will take the entrance exams for the nation’s top two conglomerates ― Samsung Group and Hyundai Motor Group ― this weekend. “The zeal for these tests seems to be higher than that for university exams that I took four years ago,” said a 23-year-old senior at Seoul National University who plans to take the test on Sunday.About 90,000 applicants are expected to take the Samsung Aptitude Test, popularly known as the SSAT, which
April 10, 2015
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Hyundai eyes southern Seoul for its first duty-free shop
Hyundai Department Store Group announced on Friday its plan to set up an urban duty-free store within its most lucrative department store in Samseong-dong, an affluent district in southern Seoul, if it wins a business license in June. This is the first time that the retail giant has mentioned a location for its first duty-free store.The company will also establish an affiliate to look over the duty-free operations, hinting at expanding its business in this sector. “The firm’s building is situate
April 10, 2015
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Supermarket giants face probe over unfair practices
Korea’s top three supermarket chains are under investigation by the nation’s antitrust watchdog over allegations that they purposely misled consumers or forced suppliers to share their losses.The Fair Trade Commission on Wednesday launched investigations into E-mart and Lotte Mart, the nation’s top two supermarket chains, to determine whether they violated laws governing advertisements.“We are looking into corporate documents to see whether the two chain stores deceived consumers in product pric
April 10, 2015
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Number of cattle, pigs in S. Korea down in Q1
The number of livestock in South Korea fell on-year in the first quarter of 2015 due to the spread of animal diseases and fewer calves being bred, government data showed Friday.The data by Statistics Korea revealed there were just under 2.66 million cattle in the country, down 3.6 percent or 101,000 head from the previous quarter. Pigs were down 119,000 or 1.2 percent on-quarter.The office said the number of cattle was also down 5.4 percent from a year earlier, while that for pigs gained 2.8 per
April 10, 2015
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S. Korea's imports of dairy items up 14.9 pct over 3 years
South Korea's imports of dairy products have risen at an annual average rate of 14.9 percent over the last three years, fueled by local demand, government data showed Friday.According to the data by the Korea Customs Service, imports of such products as cheese, powdered milk, cream and butter totaled slightly over $1.82 billion in the 2012-2014 period. Imports stood at $534 million in 2012 before rising to $584 million in the following year and reaching $704 million in 2014."Steady demand for da
April 10, 2015