Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Liberal bloc moves to rewrite student rights ordinance
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AB InBev names new CEO for S. Korea unit
Belgian brewing giant Anheuser-Busch InBev has named a new chief executive for its South Korean operations, Oriental Brewery Co. said Monday.Ben Verhaert, president of AB InBev's South Asian operations, will be replacing OB CEO Bruno Cosentino who will move to the Belgian beverage firm's African operations as chief marketing officer, OB said in a statement. He will start in the new post in January,Verhaert, 41, a native of Belgium, has built up his career mainly in the sales and logistics fields
Nov. 25, 2019
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[ASEAN-Korea summit] Smart plant solutions, green cars eye fast-growing ASEAN markets
BUSAN -- Forty-five South Korean companies exhibited and demonstrated their new technologies related to the “fourth industrial revolution,” from green cars to smart factory solutions, in a bid to create more business opportunities in the fast-growing ASEAN markets. Officials from the government, companies and their potential partners and clients gathered at Bexco for the ASEAN-ROK Innovation Showcase 2019, which was held on the sidelines of the 2019 ASEAN-ROK Commemorative Summit, in
Nov. 25, 2019
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[ASEAN-Korea summit] Malaysian premier visits KAI’s production facility
Malaysian Prime Minister Mahathir bin Mohamad visited the production site of South Korea’s sole aircraft manufacturer Korea Aerospace Industries during his trip for the ASEAN-ROK Commemorative Summit in Busan, the company said Monday. He was briefed on the light attack aircraft FA-50, basic trainer KT-1 and Surion helicopter KUH-1.“We have come to trust KAI more after seeing the production facilities and hope to continue our partnership,” Mohamad said. KAI pitched the lig
Nov. 25, 2019
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[ASEAN-Korea summit] Jim Rogers foresees bright, exciting future for S. Korea
Renowned American businessman and financial commentator Jim Rogers, chairman of Rogers Holdings, said Monday that the Korean Peninsula will become very appealing in the next couple of decades, while the ASEAN region will also emerge as a hot market for investments. He was speaking at a business forum of the ASEAN-ROK CEO Summit under the theme of “Collaboration and Tasks toward ASEAN-ROK Co-prosperity.” “The opening up (and unification) of the Korean Peninsula will combine Nort
Nov. 25, 2019
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LIG Nex1 builds education infrastructure, honors Korean War veterans in Philippines
South Korean aerospace manufacturer and defense company LIG Nex1’s employees visited the Philippines on Nov. 18 to take part in an educational campaign and honor Filipino soldiers who fought in the 1950-53 Korean War. In collaboration with South Korean nonprofit organization World Human Bridge, the firm participated in a campaign that involved building a children’s library in Davao City on the southern Philippine island of Mindanao. The campaign aims to improve the educational
Nov. 25, 2019
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[ASEAN-Korea Summit] Korea, ASEAN to partner on smart cities at ministerial level
BUSAN -- South Korea and the 10 member states of ASEAN agreed to form a consultative body at the ministerial level for sustainable cooperation in the smart city sector at a meeting on the sidelines of the ASEAN-ROK Commemorative Summit, officials said Monday. The ASEAN-ROK Ministerial Meeting on Smart City took place Monday, hosted by the Ministry of Land, Infrastructure, and Transport and the Presidential Committee on New Southern Policy. It was attended by ASEAN Secretary-General Dato Lim Jock
Nov. 25, 2019
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S-Oil recognizes ‘Hero Citizens’
Korean oil refiner S-Oil on Monday held the 2019 Hero Citizens Award ceremony at its headquarters in Seoul.The oil refinery recognized 23 people who put themselves at risk to save others in peril, and awarded them a total of 140 million won ($119,000), the company said. “The courage of unsung heroes can be a source of inspiration to many people,” said CEO Hussain Al-Qahtani. “S-Oil will continue to serve as a reliable custodian of unsung heroes, so that their deeds can ea
Nov. 25, 2019
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McDonald’s Korea to adopt sanitation grading system
McDonald’s Korea said Monday that it will introduce a sanitation grading system for all its restaurants by 2020, following recent controversy over food hygiene.The US fast food chain said that it has decided to manage store operations with strengthened standards and introduce a restaurant sanitation grading system, in addition to random inspections at its stores conducted by outside specialist organizations. Late last month, a local media outlet released photos of undercooked patties
Nov. 25, 2019
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Hollys Coffee tops overall consumer satisfaction survey
South Korean consumers found local coffeehouse chain Hollys Coffee to offer the highest level of customer service, the best products and the most favorable impression, an industry survey showed Monday.According to the survey conducted by the Korea Consumer Agency on 1,031 consumers who had visited the country’s six major coffee chains -- Starbucks, Angel-in-us, Ediya Coffee, Coffee Bean, Twosome Place and Hollys Coffee -- Hollys Coffee received the highest score for overall satisfaction wi
Nov. 25, 2019
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Air New Zealand begins services to S. Korea
Air New Zealand on Monday began flight services to South Korea to absorb growing travel demand from Asia's fourth-biggest economy.On Nov. 23 (local time), Air New Zealand flight NZ75 departed Auckland International Airport for Seoul's Incheon International Airport for the first time in more than two decades, according to the airline. Travel demand from South Korea to New Zealand has been growing significantly in recent years. Seoul, with a population of over 10 million residents, will be a popul
Nov. 25, 2019
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SK Biopharm to raise at least W5tr in IPO
South Korean drug firm SK Biopharmaceuticals Co. is expected to raise at least 5 trillion won ($4.25 billion) through a planned share sale, analysts said Monday. The company said Friday that XCOPRI, or cenobamate, has won approval from the US Food and Drug Administration for the treatment of partial-onset seizures in adults. Following the FDA approval, SK Biopharmaceuticals will likely speed up its IPO, with its shares slated to be listed early next year, according to them.SK Biopharmaceut
Nov. 25, 2019
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Samsung Heavy wins $1.5b LNG ship order
Samsung Heavy Industries Co., the world's second-biggest shipbuilder by orders, said Monday it has received a $1.5 billion LNG carrier order.Under the deal with an unidentified client in the Eurasian region, Samsung will build the LNG carrier by September 2022, the company said in a regulatory filing. The company didn't provide further details. The shipbuilder has bagged $6.9 billion worth of orders so far this year, achieving 88 percent of this year's order target of $7.8 billion, it said.
Nov. 25, 2019
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[ASEAN-Korea summit] South Korea seeks to host 2030 World Expo in Busan
South Korea aims to host the 2030 World Expo in Busan, boasting its advanced infrastructure, prominent tourist attractions and know-how in international events, officials said Friday. The World Expo, which takes place for six months every five years, is one of the world’s three largest events, including the Olympics and soccer’s World Cup. If Korea is successful in attracting a World Expo, the nation plans to host the international event in Busan’s North Port area from May to N
Nov. 24, 2019
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[ASEAN-Korea summit] South Korea forges close ties with Southeast Asia amid ‘fourth industrial revolution’
South Korea is building stronger ties with the young and fast-growing economies of Southeast Asia in hopes of creating opportunities and seeking a breakthrough in a world facing new challenges amid the “fourth industrial revolution.”The Association of Southeast Asian Nations is emerging as a new growth engine of global consumer markets and production bases with enormous potential. The world’s youngest and most dynamic economic community has a combined population of 650 million
Nov. 24, 2019
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S. Korea's chip, display industries intact from Japan's export curbs
South Korea's chip and display industries, the backbone of Asia's No. 4 economy, have remained intact since Tokyo's export curbs against the Asian neighbor, Seoul's trade ministry said Sunday.The country's top four tech giants -- Samsung Electronics Co., Samsung Display Co., SK hynix Inc. and LG Display Co. -- claimed that they have suffered no significant damages in their production lines from the restrictions, according to the Ministry of Trade, Industry and Energy. In July, Japan implemented
Nov. 24, 2019
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Samsung Heavy Industries to pay $75m in fines over bribery scheme
Samsung Heavy Industries Co., a major South Korean shipbuilder, has agreed to pay $75 million in penalties to avoid prosecution in the United States over its scheme to pay millions of dollars in bribes to Brazilian officials to win a contract, the US Department of Justice has said.The company has admitted to paying $20 million in commission to a Brazilian intermediary between 2007 and 2013, knowing that some of that money would be used to bribe high-level executives at a Brazilian state-owned oi
Nov. 23, 2019
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Korean Air 'nut rage' heiress grilled over alleged assault, child abuse
Cho Hyun-ah, the infamous "nut rage" heiress to Korean Air Lines Co., has been grilled by prosecutors over allegations of assault and child abuse raised by her husband, with whom a divorce suit is under way, sources said Saturday. Prosecutors called in Cho, a former vice president of the air carrier and daughter of late Hanjin Group chief Cho Yang-ho, earlier this week, after her husband, surnamed Park, filed an accusation against her in February.Park also filed a divorce suit in April
Nov. 23, 2019
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Bridge Biotherapeutics to become first ‘NRDO’ biotech to go public in Korea
Biotech startup Bridge Biotherapeutics is on its way to becoming the first Kosdaq-listed no-research, development-only company in Korea by the end of this year, the company said Friday.This is the company’s third attempt at making an initial public offering, and more promising than the previous two attempts on the back of the record 1.5 trillion-won ($1.27 billion) licensing out to Germany’s Boehringer Ingelheim in July. In a press conference held at Conrad Seoul, CEO Lee Jung-kue sa
Nov. 22, 2019
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Moon emboldened by new corporate investment in chip material production
President Moon Jae-in celebrated the construction Friday of a new silicon wafer plant in South Korea by a Taiwanese firm's local unit, calling it a milestone in his country's efforts to diversify the supply channel of core strategic materials against Japan's export control.His move came as a Seoul-Tokyo military information-sharing accord, called the General Security of Military Information Agreement, is scheduled to expire at the end of the day.Seoul's decision not to extend GSOMIA is attributa
Nov. 22, 2019
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Korean EV battery makers' market share sharply up in Sept.
South Korea's major electric vehicle battery producers sharply increased their market share in September amid a slowdown in global EV battery use, industry data showed Friday. Based on the global usage of their EV batteries, the combined market share of three South Korean EV battery makers -- LG Chem Ltd., Samsung SDI Co. and SK Innovation Co. -- stood at 16 percent in September, up 6.8 percentage points from a year earlier, according to data from market tracker SNE Research. L
Nov. 22, 2019