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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LG Chem seeks USITC’s default judgement against SK Innovation
In the latest development of dispute between two South Korean battery makers, LG Chem said Thursday it had requested court intervention by the US International Trade Commission, alleging that SK Innovation attempted to destroy key evidence.“Circumstances show that SK Innovation, ever since it has filed suit, has continued systematic attempts to destroy evidence, such as sending out email instructions to employees to destroy related evidence,” LG Chem said in a statement.The company s
Nov. 14, 2019
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Moon calls for 'K-beauty' strategy in biotech innovation project
President Moon Jae-in instructed his economy team Thursday to explore ways to develop South Korea's cosmetics industry in connection with the initiative to innovate the biotechnology sector, according to his office.Moon told Finance Minister Hong Nam-ki to map out related measures, receiving a regular report on economic affairs and policies. Hong doubles as deputy prime minister for economy. The minister briefed Moon on current economic situations, next year's policy direction and accompli
Nov. 14, 2019
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Luxury lifestyle retailer Conran Shop lands in Korea
Leading luxury retailer of furniture and home accessories Conran Shop announced Thursday the launch of its first outlet in upscale Gangnam District, southern Seoul.In a 10-year partnership with local retail giant Lotte Shopping, the London-based retailer of more than 300 designer brands will offer a unique curation of design classics and future icons. Korea’s lifestyle market has grown nearly 70 percent in in the past decade -- from 7 trillion won ($6 billion) in 2008 to 12 trillion won in
Nov. 14, 2019
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Samsung BioLogics becomes first CMO to obtain ISO 27001
Samsung BioLogics said Thursday it has become the first CMO company globally to obtain ISO 27001 certification from the Geneva-based International Organization for Standardization.ISO 27001 is the most prestigious international standards certification in information security. It acknowledges the local biopharma firm to be the “World’s Best CDMO Company,” and will help boost trust between global partners, the company said. To obtain the certification, Samsung BioLogics had
Nov. 14, 2019
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Image sensor market to post record sales in 2019: report
Global sales of an image sensor used in smartphones and digital cameras are expected to hit a record high this year, emerging as a bright spot in the stagnant chip sector, a report showed Thursday.The market for complementary metal oxide semiconductor sensors is forecast to reach $16.8 billion in 2019, up 19 percent from a year earlier, according to market researcher IC Insights. The latest growth rate is sharply up from its August prediction of a 9 percent rise for this year. The explosive grow
Nov. 14, 2019
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Culture minister says gaming is not disease, vows law revision in 2020
BUSAN – Korea’s culture minister vowed to make revisions to the decade-long game industry law to help revitalize the gaming industry, Wednesday, saying that he disagrees with viewing it as a disease.“Gaming is not a disease but a leisure activity. Cultural contents not only enrich our lives but also serve as growth engines for our future.” said Culture Minister Park Yang-woo at the 2019 Korea Game Awards held in Busan. He was referring to the World Health Organizati
Nov. 13, 2019
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Lost Ark sweeps 2019 Korea Game Awards
BUSAN -- Smilegate RPG’s Lost Ark bagged six awards at 2019 Korea Game Awards including the presidential accolade, receiving 10 million won ($8,550) in prize money. XLGames’ Moonlight Sculptor nabbed the prime minister’s accolade and a 5 million won prize. The culture minister’s accolade went to four games: Cherry Bug’s Blade and Soul Revolution, Funnypaw’s Seven Deadly Sins: Grand Cross, Netmarble N2’s Koongya Catch Mind and Krafton’s Mistover.Los
Nov. 13, 2019
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Asiana’s choice of HDC seen as a boon for Aekyung
Debt-ridden Asiana Airlines’ choice of a consortium led by Hyundai Development Company as its new owner -- one of the three bidders for a controlling 31 percent stake -- is a boon for Aekyung Group which lost out, according to analysts Wednesday.The HDC consortium also includes Mirae Asset Daewoo, which will take 20 percent stake. Soon after the announcement, Aekyung said in a statement that it will continue to advance its budget airline brand Jeju Air’s safety operation system and d
Nov. 13, 2019
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Hyundai Heavy requests EU approval for DSME merger
Hyundai Heavy Industries submitted a request for formal approval from the European Union for its merger with Daewoo Shipbuilding & Marine Engineering, HHI said Wednesday. The EU, which is believed to hold the key to the merger, plans to complete the first round of screening results next month. Hyundai Heavy said, “We are faithfully explaining to competition authorities in line with the review schedule and process of each country. We will do our best to ensure that the tie-up proce
Nov. 13, 2019
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South Korea embarks on large-scale oil hub project in Ulsan
South Korea is accelerating its oil hub project aimed at making Ulsan and Yeosu the center of petroleum trading in Northeast Asia, officials said Wednesday. The oil hub project in Northeast Asia began in 2008 to build large-scale commercial oil and gas storage facilities in the two cities. It seeks to make the regions a hub for the convergence of petroleum logistics, trading and finance in Northeast Asia as well as to enhance the nation’s energy security in the event of an international oi
Nov. 13, 2019
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Primera ‘Let’s Love’ campaign benefits girls in Indian town
Primera, a skin care cosmetics brand under South Korean beauty giant Amorepacific, has launched a limited edition of its Mango Butter Comforting product line as part of its “Let’s Love” campaign.The campaign was first launched in 2013 as part of its corporate social responsibility efforts and benefits girls in Jamui, India, who are affected by poverty and inequality. The product cases feature typography and illustrations inspired by the girls’ handwritten letters an
Nov. 12, 2019
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Banks not as top-heavy as conglomerates: data
The competition to join the C-suite is higher at major banks than at top-tier conglomerates such as Samsung Electronics and Hyundai Motor, data showed Tuesday.When it comes to the four major sectors of the financial market -- banks, insurers, brokerages and credit card companies -- executives accounted for 2,969 of the 23,595 employees as of the end of June, or 1.3 percent, according to the Financial Information Statistics System of the market watchdog Financial Supervisory Service.The correspon
Nov. 12, 2019
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GS Caltex joins new oil futures exchange in Abu Dhabi
GS Caltex said Tuesday it is the first South Korean oil refiner to take part in the launch of ICE Futures Abu Dhabi, a new exchange in the United Arab Emirates. The company has signed a deal with Intercontinental Exchange, an American company that owns exchanges for financial and commodity market exchanges, along with nine other energy traders for the launch of the exchange. The other large energy firms include Abu Dhabi National Oil Co., BP, Shell, Total, Vitol, Petrochina, Inpex, JXTG and
Nov. 12, 2019
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Posco launches premium construction steel brand
Posco announced Tuesday the launch of Innovilt, an integrated brand of its premium construction steel materials. The materials are used in buildings and other infrastructure projects. Posco said its new integrated brand will help not only construction experts but also end-users easily recognize and select the materials. “We are trying to cope with challenges such as oversupply of steel and slowing economic growth index through the integrated brand,” said Jang In-hwa, head of Pos
Nov. 12, 2019
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Taihan selected as Kepco’s top cable supplier
South Korean cable maker Taihan Electric Wire was chosen as the top-quality power manufacturer of the year by the Korea Electric Power Corp., according to the firm Tuesday.Taihan said its underground cables for distribution received an award at the 2019 BIXPO Awards hosted by Kepco in Gwangju last week. The evaluation was made based on quality factors such as defect rate, failure rate, electricity quality and violation of fair trade. Taihan was selected as one of the top 10 manufacturers am
Nov. 12, 2019
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Samsung Bioepis expects 2019 to yield first-ever profit
Samsung Bioepis is anticipated to turn a profit for the first time since the company’s foundation, CEO Ko Han-sung said Tuesday at a press conference, estimating over 1 trillion won ($859 million) revenue in 2019. “We have never held a press conference prior to this one, thinking a company in deficit has nothing to say -- but we expect to turn a profit this year,” said Ko during the conference on the sidelines of the BIOplus 2019 forum at Coex exhibition hall in Seoul. Sa
Nov. 12, 2019
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HDC consortium picked as preferred bidder for Asiana
A consortium of HDC Hyundai Development Company and Mirae Asset Daewoo was picked as the preferred bidder to acquire the country’s second-largest air carrier, Asiana Airlines, Tuesday.The decision comes seven months after Asiana Airlines’ parent company, Kumho Industrial, put a controlling 31 percent stake in its air carrier unit up for sale. Three bidders -- Aekyung Group, Hyundai Development Company and Korea Corporate Governance Improvement -- had submitted applications.“We
Nov. 12, 2019
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Netflix estimated to have 2m users in S. Korea
Netflix Inc. had an estimated 2 million paid viewers in South Korea as of the end of October, more than doubling from a year earlier, data showed Tuesday.South Korean subscribers to the US video streaming platform numbered 810,000 in October 2018, according to the data from industry tracker WiseApp.The latest figure was also up from an estimated 1.91 million users two months earlier. The number of Netflix users in South Korea has been on a steady rise since February last year, when it came to 40
Nov. 12, 2019
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S. Korea recaptures No. 1 spot in shipbuilding orders in Oct.
South Korea recaptured the top spot in global shipbuilding orders last month, industry data showed Tuesday, on the back of its dominance in the liquefied natural gas carrier market. In October, local shipyards, led by Hyundai Heavy Industries Co., won orders totaling 1.29 million compensated gross tons to build 17 ships, accounting for 86 percent of the orders placed around the globe, according to London-based Clarkson Research Services Ltd., the world's leading provider of data for the shipping
Nov. 12, 2019
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[From the Scene] Incheon Airport draws MRO cluster blueprint
EVERETT, Washington -- Despite growing fears on plane defects worldwide, Boeing is relentlessly assembling 24 new aircrafts at its one-roof factory in Washington.At its Everett factory -- the world’s largest by size at 13.38 million cubic meters -- the firm’s wide-body 747, 767, 777 and 787 planes are being assembled by humans, robots and cranes. Robots bring the carbon fiber components for the B777X and fasten them together. They work by going underneath the components, whereas
Nov. 11, 2019