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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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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China outpaces Korea in smaller OLED shipments for 1st time
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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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SK Innovation Q3 net plunges 62 % on inventory losses
SK Innovation Co., South Korea's top refiner, said Thursday that its third-quarter net profit tumbled 62 percent from a year earlier on inventory losses.Net profit stood at 174.2 billion won ($149 million) on a consolidated basis in the July-September period, compared with 459.4 billion won a year earlier, the company said in a regulatory filing.Operating income plunged 60.5 percent on-year to reach 330 billion won in the third quarter, with sales falling 17.3 percent on-year to 12.3 trillion wo
Oct. 31, 2019
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S. Korea to offer autonomous bus service in Sejong in 2022
A simple tap on a smartphone screen can bring a bus to your selected location. And don't be surprised if the driver's hands are not on the wheel. The proposed service is an illustration of South Korea's efforts to develop future vehicles and related services amid growing global competition.The Ministry of Land, Infrastructure and Transport said it will begin testing autonomous buses in South Korea's administrative hub of Sejong next month.A human backup driver will be behind the wheel durin
Oct. 31, 2019
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Samsung’s Q3 net profit plummets on semiconductor market woes
Samsung Electronics on Thursday kept an upbeat outlook on its memory chip business, pledging flexible investments into the sector despite its third-quarter earnings having suffered from semiconductor market woes.Samsung’s third-quarter earnings released earlier in the day showed that its net profit more than halved due to the lackluster performance of its semiconductors division, despite improved smartphone sales. In a conference call that immediately followed the earnings release, Jeon Se
Oct. 31, 2019
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Sept. industrial output falls 0.4% on service sector
South Korea's industrial output fell in September from a month earlier due mainly to declines in the services sector, government data showed Thursday.The country's overall industrial production saw a 0.4 percent on-month decline last month after posting on-year gains in the previous two months, Statistics Korea said in a statement. Production in the mining, manufacturing, gas and electricity industries climbed 2 percent in September from a month ago, while output in the services industry decline
Oct. 31, 2019
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Hanjin family inherits late chairman's stake in holding company
The controlling family of South Korea's Hanjin Group inherited a 17-percent stake of the group's holding firm, Hanjin KAL Corp., from its late chairman Cho Yang-ho, the company said Wednesday. Hanjin KAL has been led by Cho's only son, 44-year-old Cho Won-tae, since late April, after the elder Cho died of a chronic lung disease while receiving treatment in the United States on April 8. After inheriting the stocks, Won-tae saw his stake in Hanjin KAL rise to 6.46 percent from 2.32 perc
Oct. 30, 2019
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Daelim Industrial to acquire US Kraton's chemical business
Daelim Industrial Co., a major construction and petrochemical firm in South Korea, said Wednesday it will acquire a chemical business of US Kraton Corp. for 618.2 billion won ($529.9 million). To acquire the Cariflex business of Kraton, Daelim Industrial will set up a subsidiary in the US, the company said in a regulatory filing. The planned acquisition is aimed at helping bolster its line-up of higher-value chemical products, according to the filing. Daelim Industrial is the No.-
Oct. 30, 2019
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LG Electronics posts earning surprise in Q3 although net profit plunges
LG Electronics posted record-breaking revenue and operating profit in the third quarter this year on the back of solid television sales but its mobile division continued to struggle in the red, officials said Wednesday.The company’s consolidated revenue stood at 15.7 trillion won ($13.4 billion), its highest third-quarter figure, while operating profit was a 10-year high of 781 billion won, up 4.4 percent on-year.The net profit, however, dropped 30.5 percent from a year earlier and marked
Oct. 30, 2019
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‘Cross-border forestry cooperation key to regional partnership’
South Korea and countries in Southeast Asia are seeking to join hands in developing forests in cross-border areas throughout the region to enhance their partnership for the security and environment. According to the Korea Forest Service, it will adopt a joint declaration with the Association of Southeast Asian Nations for forestry cooperation. The document will gain approval at the two groups’ high-level meeting to be held in Seoul on Thursday. The declaration is expected to pave the wa
Oct. 30, 2019
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KT to invest W300b on AI tech by 2023
South Korean telecom giant KT said Wednesday it will spend 300 billion won ($256 million) on developing advanced artificial intelligence technology by 2023 to expand its high-tech business at home and overseas. During a press briefing at its Seoul headquarters, KT introduced a four-year investment plan on promoting its AI businesses. It also pledged to hire more than 1,000 AI experts to support the initiative. Using its 5G wireless network and other technological prowess, KT said it wou
Oct. 30, 2019
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LG Electronics Q3 net down 30.5 % on sluggish mobile biz
LG Electronics Inc. said Wednesday its third-quarter net profit dropped 30.5 % from a year earlier due to its lackluster mobile business.The South Korean electronics maker said its net earnings stood at 345.7 billion won ($296 million) in the July-September period, compared with 497.1 billion won a year ago. Its sales rose 1.8 % on-year to 15.7 trillion won, and its operating profit gained 4.4 % to 781.4 billion won in the third quarter, the largest quarterly result since 2009, the com
Oct. 30, 2019
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Hyundai Glovis opens Southport Yard in Philadephia
South Korean logistics company Hyundai Glovis said Wednesday that it had opened a vehicle-storage space at Southport Yard inside the Port of Philadelphia, where new Hyundai, Kia and Genesis cars will arrive before they are shipped off to dealerships in the US.With the opening of the new facility which spans over 1 square kilometer of land, some 36,000 vehicles will be unloaded and stored at Southport Yard off of the ships for checking before imported to the US. The opening ceremony was attended
Oct. 30, 2019
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BMW holds its first Ladies Championship in Busan
BMW Group Korea held the BMW Ladies Championship 2019 from Thursday last week to Sunday, with South Korean golfer Jang Ha-na clinching the top place in a three-hole playoff.The four-day event at LPGA International Busan drew an audience of some 70,000 who watched the play, the largest number to watch an LPGA tour match so far. BMW Group said the Ladies Championship illustrates its willingness to continue to invest in the Korean sports industry and raise Korean golf’s status globally.The co
Oct. 30, 2019
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Japan beer exports to South Korea down 99.9 % over boycott
TOKYO (AFP) -- Exports of beer from Japan to South Korea fell 99.9 percent year-on-year in September, Japan's finance ministry said Wednesday, as a boycott spurred by a bilateral dispute drags on.Relations between South Korea and Japan have fallen to new lows in recent months over long-running tensions on the issue of war-time forced labour.The countries have implemented retaliatory trade restrictions, and in South Korea citizens have called for a boycott of Japanese goods.Japanese beer had long
Oct. 30, 2019
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South Korea embarks on ambitious autonomous ship project
South Korea has embarked on an autonomous ship project by investing 160 billion won ($130 million), seeking to boost the domestic eco-friendly and smart shipping industry and achieve a 50 percent global market share by 2030.The Industry Ministry and the Oceans Ministry announced Wednesday that the project they are jointly pursing has passed the preliminary feasibility studies.The project aims to develop key technologies related to autonomous navigation and system autonomy while laying the founda
Oct. 30, 2019
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S. Korea hosts 5G fair to promote exports of immersive contents
South Korea on Wednesday opened a 5G fair to help local companies export their latest immersive content products.South Korean companies showcased their goods to prospective overseas partners at the two-day fair at an exhibition center in Goyang, northwest of Seoul, the Ministry of Science and ICT said.Participants included officials from telecom service related companies from Finland, Denmark, Qatar and Oman. In August, Seoul earmarked 18.8 billion won ($16.1 million) to help content companies c
Oct. 30, 2019
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SK Broadband pursues violence-free schools
SK Broadband, a wholly owned subsidiary of telecommunications firm SK Telecom, considers social value a barometer of success in business. The company said Wednesday that it is applying a double-bottom line concept to its balance sheet to assess both the social value and the financial value of its business performance. SK Broadband, since 2018, has co-organized a teenage video production team as part of the “B’lossom Youth Video Project” with the National Police Agency and Yonse
Oct. 30, 2019
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[Advertising Awards] LG Electronics’ appliances make homes healthier
MARKETING AWARDS/ GOLD PRIZELG ELECTRONICSBy Oh Sae-chonVice president Yellow dust and ultrafine dust are becoming threats to our lives as time goes by. In light of these environmental issues, the role of home appliances has grown beyond just keeping houses clean; they also help ensure the health and safety of families. For instance, appliances can be used to maintain air quality at home and to provide clean water all year round. Careful management of such products is also important. There
Oct. 29, 2019
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[Advertising Awards] I am your energy, GS Caltex
PRINCIPAL AWARDS / GOLD PRIZEGS CALTEXBy Lee Sang-hunVice president of public relationsFirst of all, I would like to express our gratitude for giving us the 2019 Korea Herald Advertising Awards Gold Prize, which will no doubt boost GS Caltex’s communication activities.In 2009, GS Caltex set its corporate brand identity as “energy for sustainable life” and developed “I am your Energy” as a brand slogan to better communicate with consumers. In March that year, th
Oct. 29, 2019
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[Advertising Awards] SK Innovation pursues green strategy for sustainable growth
PRINCIPAL AWARDS/ GRAND PRIZESK INNOVATIONBy Lim Su-kilHead of PR OfficeI would like to express my sincere gratitude to all who joined and supported SK Innovation’s corporate PR campaign, “Our innovation is natural,” that embodied our attitude toward the environment.Under the campaign’s slogan, we sought to convey our management strategy of “green balance” that aims to uphold the values of nature, while at the same time carrying a message that the firm’s
Oct. 29, 2019
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[Advertising Awards] SK Holdings promotes happiness through social campaign
CREATIVE AWARDS/ GRAND PRIZESK HOLDINGSBy Hong Kyung-pyoVice president of brand management SK has been pursuing ways to generate social value for greater happiness for all. Social value that aims to solve various problems together with cooperation between society and business is the new growth engine for our community. This year’s “OK! SK” campaign is designed to provide better understanding of SK’s efforts in creating social value. In this campaign we described the
Oct. 29, 2019