Most Popular
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Yoon’s jailed mother-in-law excluded from latest parole list
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Korea’s homegrown nanosatellite successfully launches into space
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Nicaragua shuts down Seoul embassy
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Hybe's multilabel system tested amid conflict with Ador
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Aging population to drive down Korea's housing prices from 2040: experts
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Kepco selected as preferred bidder for 200 MW Guam power plant
State-run Korea Electric Power Corp. said Wednesday it has been selected as a preferred bidder for a Guam power plant by the Guam Power Authority. If the deal is sealed, Kepco will build and operate a 200-megawatt Guam power plant in Dededo, northern Guam. Hyundai Engineering will also join the project to build the power plant. The project will be carried out in the form of build-operate-transfer project financing. Kepco will be able to sell power produced in the region over the next 25 yea
June 19, 2019
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Riot Games Korea returns two more overseas Korean artifacts
Riot Games Korea and the Overseas Korean Cultural Heritage Foundation unveiled 19th century royal relics retrieved from overseas Wednesday at the National Palace Museum of Korea.The treasures returned to Korea this time are a square-shaped 19th century white porcelain jar with the inscription of the palace Idonggung and a stamp with an auspicious beast for a handle to represent the palace Junghwagung. The National Palace Museum of Korea will look after and study the artifacts. The OKCHF sai
June 19, 2019
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[Feature] Complaints grow over social media influencers’ online markets
For 29-year-old office worker surnamed Jang, buying a dress from a popular Instagram influencer who has some 4,000 followers was a money-losing proposition and regretful shopping experience. “Although the dress was not from a famous brand, it was around 200,000 won ($170). The seller said the dress is tailor-made, advertising it as a now-or-never deal to own a perfect-fit dress made with high-quality fabric,” said Jang. But when she received the product, the dress was diffe
June 19, 2019
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Korean Air orders 30 Boeing 787 aircraft for W11tr
South Korean flagship carrier Korean Air said Wednesday it has clinched a deal with Boeing to acquire 30 Boeing 787 aircraft at the Paris Air Show in an effort to modernize its aircraft.Korean Air has agreed to buy 20 new wide-body B787-10s and to lease 10 additional B787-9s, the company said in a statement. The deal approximately costs 11.5 trillion won ($9.7 billion), based on the price list. This marks the first large-scale purchase deal made by the new chief Cho Won-tae, who took office
June 19, 2019
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AFoCO shares sustainable forest restoration commitment at APFW
The Asian Forest Cooperation Organization (AFoCO) shared its strategic priorities at the Asia-Pacific Forestry Week on Tuesday, in Songdo Convensia Convention Center, Incheon, reaffirming its commitment to contribute to regional cooperation and relevant works.The opening ceremony of the event was held on Tuesday and will run through Friday. It is the largest forestry gathering in the APAC region organized by the UN Food and Agriculture Organization bringing government, private, academia, researc
June 18, 2019
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AFoCO envisions greener Asia through regional cooperation.
The establishment of Asian Forest Cooperation Organization (AFoCO) was proposed by South Korea at the ASEAN-ROK Commemorative Summit in 2009. It is aimed at strengthening regional forest cooperation by transforming proven technology and policies intro concrete actions in the context of sustainable forest management to address the impact of climate change. The ASEAN-ROK Forest Cooperation was formalized in 2012 as the initial phase of AFoCO. Under this cooperation mechanism, regional forestry act
June 18, 2019
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KEA shares energy efficiency know-how with South Asian nations
State-run Korea Energy Agency has opened a knowledge-sharing program with the World Bank, inviting officials from South Asia to Seoul, the government agency said Tuesday. The KEA began the third WB-KEA energy efficiency knowledge-sharing program hosted by the World Bank, inviting officials from Sri Lanka and Bangladesh. The five-day training program aims to share Korea’s energy policies and experience. With the topic of energy efficiency system for buildings, Korea is sharing green bu
June 18, 2019
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Korea’s nuclear reactor technologies allegedly leaked to UAE, US
The South Korean government is reportedly looking into allegations of leaks of key nuclear reactor technologies to other countries. According to multiple local news reports Tuesday, the Nuclear Safety and Security Commission and the National Intelligence Service are verifying the authenticity of a tipoff delivered to the NSSC through a nuclear safety ombudsman system. Based on the tipoff, one retiree from state-run nuclear operator Korea Hydro & Nuclear Power has allegedly leaked &ldquo
June 18, 2019
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SK’s US subsidiary Ampac opens 180,000-liter capacity CDMO facility
SK Holdings’ US subsidiary Ampac Fine Chemicals celebrated the opening of its contract development and manufacturing facility with production capacity of 180,000 liters in Petersburg, Virginia, on Sunday. SK Holdings acquired AFC in July 2018, marking the first global acquisition by a Korean pharmaceutical firm. At the time, industry insiders reportedly viewed the acquisition as a milestone for a Korean pharma firm to acquire a 100 percent stake in AFC, a contract development and manu
June 18, 2019
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Samsung SDS vows to expand enterprise blockchain platform
Samsung SDS Co. said Tuesday it will expand its partnerships with various industrial players to facilitate the convergence of its enterprise blockchain platform with other technologies and increase utlization.The IT service subsidiary of Samsung Electronics Co. has been developing cloud-based blockchain technologies for use in the manufacturing, logistics, public sector, finance and health care sectors. Samsung SDS said it has been working with local hospitals, insurance companies and digi
June 18, 2019
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Homeplus CEO encourages employees to become ‘new best’
The chief of South Korea’s second-largest retailer Homeplus recently sent out a hand-written letter to employees encouraging them to face the new challenges head-on and strive to become “new best,” the company said Monday.CEO Im Il-soon has been leading the retail chain giant since October 2017.“I am certain that despite the cutthroat competition we can stand as a new force in the retail sector with our hard work. Because we will maximize our excellent distribution capaci
June 17, 2019
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[Photo News] Family of late IIAC CEO donates scholarship
Participants pose in a ceremony to deliver a scholarship worth 100 million won ($84,300) in the name of the late CEO of Incheon International Airport Corporation, Lee Chae-wook, Friday at the auditorium of the Haneul Academy. The donation was made upon the wish of Lee, who passed away in March this year at 73. Haneul Academy, a private high school located in Incheon, opened in 2011 based on 50 billion won in subsidies from IIAC during the time Lee was heading the airport corporation, as par
June 17, 2019
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‘Human-focused forest policy can improve citizens’ lives’
The following is a transcript of a speech by Korea Forest Service Minister Kim Jae-hyun at the opening of the Asia-Pacific Forestry Week in Songdo, Incheon, on Monday. -- Ed.I would like to sincerely welcome all of you to Asia-Pacific Forestry Week 2019.I am very delighted to invite you all and discuss forest issues in Incheon in June, when verdant greenery reaches its peak. There is a saying that “humans have been living with forests.” But I would like to rephrase it a lit
June 17, 2019
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APAC’s biggest forum kicks off to shine on forests for peace, well-being
Officials, experts and scholars from 46 countries around the world gathered in Songdo, Incheon, on Monday for a five-day international conference on the future of forestry and the challenges that Asia-Pacific as a region faces today.Co-organized by the Korea Forest Service and the Food and Agriculture Organization of the United Nations, the 28th Session of the Asia-Pacific Forestry Commission and the Asia-Pacific Forestry Week 2019 will discuss the role of forestry in mitigating climate change a
June 17, 2019
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Herald forum calls for ‘manufacturing renaissance’ innovation
The 2019 Herald Business 氣 UP Forum on Monday called for bold innovations in the manufacturing and service sectors, and business buoyance through the governmental regulatory sandbox. South Korean Prime Minister Lee Nak-yeon and Herald Corp. CEO Kwon Chung-won gave welcoming remarks at the forum that was held at the Korea Chamber of Commerce and Industry.This is the third year the Herald Business, a Korea Herald sister company, is holding the 氣 UP Forum. The name is a play on words that construct
June 17, 2019
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Cryptocurrency exchanges change their terms of service: FTC
Five cryptocurrency exchanges have changed their terms of service in a way that they can be liable for problems caused by potential cyberattacks or system malfunctions, even if operators are not willfully or grossly negligent, South Korea's antitrust regulator said Monday. The Fair Trade Commission said Bithumb and four other cryptocurrency exchanges made the changes after receiving the corrective recommendation from the FTC in April last year.The cryptocurrency exchanges had said in their terms
June 17, 2019
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Health care, cosmetics sectors enjoy sharp export surge in 2018
South Korea's health care and cosmetics exports surged to $14.6 billion last year, helped by solid demand, the Ministry of Health and Welfare said Monday.Outbound shipments of drugs, medical equipment and makeup products jumped 19.4 percent from the previous year, with the annual average growth rate for the past five years hitting 21 percent, according to the ministry. Of the total, cosmetics accounted for $6.3 billion followed by drugs and medical equipment at $4.7 billion and $3.6 billion, res
June 17, 2019
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Mirae Asset Global sells prime office building in Germany
Mirae Asset Global Investments, a local asset manager, said Monday that it has earned about 160 billion won ($135 million) in profit through the sale of a premium office building in Germany.The asset management unit of Mirae Asset Financial Group has signed a deal to sell Taunusanlage 8, a prime office building located in Frankfurt, for 400 million euros ($449 million), the company said in a press release. Having acquired the building in 2017 for 280 million euros through a private equity f
June 17, 2019
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McDonald’s Korea to recruit 120 admin managers nationwide
McDonald’s Korea said Monday that it is recruiting 120 administrative managers who will work at its some 420 restaurants nationwide.According to the fast-food chain, applicants will go through the document screening, interview and practical assessment in a restaurant environment. Successful candidates will take training course as trainees and will be dispatched to stores from August. The new managers will be given opportunities for promotion to general manager of the store or regional
June 17, 2019
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LG CNS, Microsoft to develop cloud-based business platform
LG CNS, the information technology services unit of South Korea’s LG Group, said Sunday it will work with Microsoft to develop advanced business platforms to improve its working environment. The company said that it has signed a memorandum of understanding with Microsoft to develop cloud-based business platforms. The agreement was reached on Friday at Microsoft’s Asia-Pacific headquarters in Singapore. The new platforms are designed to incorporate Microsoft’s advanced softwa
June 16, 2019