Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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KCCI chief calls for closer ties with Moroccan businesses
Korea Chamber of Commerce and Industry Chairman Park Yong-maan (Yonhap)The head of the Korea Chamber of Commerce and Industry urged businesses to strengthen ties with Moroccan firms, highlighting the country’s push for industrial development.“Morocco, which has signed free trade agreements with about 50 countries, holds geopolitical advantage for business expansion,” said Park Yong-maan, chairman of the KCCI, the nation’s largest group representing Korean businesses.“I wish for broader cooperati
Dec. 21, 2018
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Market share of HNB e-cigarette hits 11 percent in Nov.
Heat-not-burn e-cigarettes accounted for 11.3 percent of all cigarettes sold in November, ministry data showed Friday.According to the Ministry of Economy and Finance, 288 million packs of cigarettes were sold here in November, a 1 percent on-year increase. Some 35 million packs of those were cigarettes used for HNB e-cigarette devices. Since the launch of the first HNB e-cigarette Iqos from Philip Morris International in May last year, interest in such devices has grown, sparking a steep increa
Dec. 21, 2018
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Cigarette sales up 1% in November
Sales of cigarettes in South Korea rose 1 percent in November from a year earlier, data showed Friday, amid an anti-smoking campaign and higher prices. (Yonhap)South Korean smokers purchased 288 million 20-cigarette packs in November, compared with 285.1 million in the same period of last year, according to data compiled by the Ministry of Economy and Finance.The figure represented a 20.5 percent drop from November 2014, just months before South Korea increased the price of cigarettes by 80 perc
Dec. 21, 2018
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Samsung to produce 7nm chips for IBM's CPU
US information technology giant IBM Corp. said Friday that South Korean chipmaker Samsung Electronics Co. will manufacture 7-nanometer microprocessors for its CPUs.According to IBM, Samsung will manufacture 7nm Power processors for IBM Power Systems, IBM Z and IBM LinuxONE high-performance computing systems and cloud offerings. (Yonhap)The deal is expected to help Samsung, which has Qualcomm Inc. as one of its clients, to beef up its foundry business utilizing extreme ultraviolet process techno
Dec. 21, 2018
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Korea must step up enforcement of laws against foreign bribery: OECD
South Korea must increase its efforts to enforce laws against bribery of foreign public officials, as enforcement is weak in view of the size of the nation’s economy and its export-oriented nature, said a report released Thursday by the Organization for Economic Cooperation and Development.“The decrease in foreign bribery enforcement (in Korea) since 2011 is a cause for concern, especially in view of the size of the Korean economy, its export-oriented nature, and the geographical and industrial
Dec. 20, 2018
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Daewoong Pharmaceutical to export Nabota to New Zealand, Israel, Ukraine
South Korean drugmaker Daewoong Pharmaceutical Co. said Thursday it has signed deals to sell its type A botulinum toxin drug in New Zealand, Israel and Ukraine.The product, called Nabota, will be available in the three countries as early as 2020 in accordance with the three separate contracts, whose combined value amounts to $12 million, the company said.This photo, provided by South Korean drugmaker Daewoong Pharmaceutical Co., on Dec. 20, 2018, shows its BTX product, Nabota. (Yonhap)Douglas Ph
Dec. 20, 2018
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CJ CheilJedang celebrates 30 years in Indonesia
CJ CheilJedang, a food manufacturing unit of CJ Group, celebrated its 30th anniversary since opening business in Indonesia, seeking to emerge as a world-leading bio firm. “Based on our business operation in Indonesia, CJ CheilJedang could develop as a global bio firm, thanks to hardworking employees at the Parusuan production line. The past 30 years will be a motivation for the next 30 years,” said CJ CheilJedang CEO Shin Hyun-jae, who participated in a ceremony in Parusuan, Indonesia, Thursday.
Dec. 20, 2018
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[Eye Plus] Seoul greets Christmas
With Christmas just around the corner, the streets and buildings of South Korea’s capital are ready to embrace the holiday spirit with Christmas trees and twinkling lights.(Park Hyun-koo/The Korea Herald) (Park Hyun-koo/The Korea Herald) (Park Hyun-koo/The Korea Herald)The Seoul Metropolitan Government is holding the 2018 Seoul Christmas Festival until Jan. 1 at Cheonggyecheon, featuring different colored light-emitting decorations along the 1.2-kilometer walkway by the stream at night. Meanwhil
Dec. 20, 2018
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Incheon Airport to invest W4.2tr in expansion, upgrades by 2023
Incheon International Airport Corp. said Thursday it will invest 4.2 trillion won ($3.7 billion) to build a fourth runway and expand facilities by 2023. The airport began operations in 2001 and opened its second terminal in January to meet rapid air passenger growth. It currently handles 72 million travelers a year, a number that is expected to grow to 95 million by 2023, the transport ministry said in a statement. (Yonhap)The state-controlled airport operator will inject the money to add a fou
Dec. 20, 2018
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Daewoo E&C continues to expand CSR activities
Daewoo Engineering & Construction Co., a major South Korean builder, has been expanding its corporate social responsibility programs for people with disabilities and other disadvantages ever since 2012.The company has operated CSR programs since 2007, initially involving only volunteer groups within its staff. But six years ago, it expanded its CSR activities to involve all employees in every one of its departments and business units. Daewoo E&C workers and their families paint murals in Seoul a
Dec. 19, 2018
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[Monitor] Korea gears up for expansion of eco-friendly vehicles
South Korea aims to have 430,000 electric cars and 65,000 hydrogen-fueled cars on local roads by 2022, according to the Ministry of Trade, Industry and Energy on Tuesday.This is a big jump from previous targets, which were 350,000 electric cars and 15,000 hydrogen-fueled cars in four years. For the same period, the ministry also raised the target for exports of electric cars sevenfold to 250,000 and hydrogen-fueled cars by seventeen times to 5,000. With these adjusted targets, the government sai
Dec. 19, 2018
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GS E&C wins bridge construction deal in Myanmar
South Korean builder GS Engineering & Construction has won a construction deal in Yangon, the biggest city and former capital of Myanmar, the firm said Wednesday. The project involves building the Korea-Myanmar Friendship Bridge, which is financed by the Economic Development Cooperation Fund. The fund was set up to promote economic cooperation between South Korea and developing countries.According to GS E&C, it received a letter of acceptance from Myanmar’s Construction Ministry last week for th
Dec. 19, 2018
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Fresh food deliveries, shoppers in 60s major e-commerce trends in 2018: data
Fresh food deliveries, a rise in the number of shoppers in their 60s and e-mobility were among the five keywords that summarize this year’s e-commerce shopping trends, e-commerce company Interpark said Wednesday. According to data compiled by Interpark based on online sales and opinions from its merchandisers, fresh food deliveries have become common services for online shoppers in the past year, mainly due to quick delivery services.Market Kurly, for instance, saw the rapid expansion of its bus
Dec. 19, 2018
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South Korea-China trade volume rises to pre-THAAD levels
South Korea’s trade volume with China reached $247.3 billion in the first 11 months of this year, rising to the level reached before a diplomatic row over the deployment of an anti-missile system here took a toll on trade between the two countries, government data showed Wednesday.Korea’s No. 1 export and import market has been China since the South Korea-China free trade agreement was inked in December 2015, accounting for roughly 25 percent of Korea’s trade turnover and about twice the volume
Dec. 19, 2018
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SK hynix breaks ground for new production line in Korea
South Korea's No. 2 chipmaker, SK hynix Inc., on Wednesday held a groundbreaking ceremony for a new chip production line that is expected to commence operations in October 2020.The M16 production line, located in Icheon, 80 kilometers southeast of Seoul, will be built on a 53,000-square meter lot. SK Hynix Inc. holds groundbreaking ceremony for new chip productin line, Dec. 19(Yonhap)While the new line is set to produce dynamic random-access memory chips, SK hynix said its production capacities
Dec. 19, 2018
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[Herald Interview] Korea needs to change ways of reforming chaebol: FTC chief
It is easy to misread Kim Sang-jo, the chairman of the Fair Trade Commission, who is well known as an erudite economist and a passionate anti-chaebol activist. Ever since he was named to head the nation’s top watchdog in June 2017, views have clashed between those that forewarned an end to the heyday of South Korea’s conglomerates and those that impugned whether the “chaebol sniper” would live up to his nickname. Halfway through his three-year tenure, Kim has completed the exhausting task of con
Dec. 18, 2018
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LG opens food science lab
LG Electronics said Tuesday that it has opened a new research lab dedicated to food science and technology within its research and development center in Changwon, South Gyeongsang Province.LG’s food researchers will work at the 630-square-meter lab and study food preservation and processing, kimchi fermentation and related areas, the company said. An LG Electronics researcher looks through a temperature-controlled microscope at the company’s food science lab in Changwon, South Gyeongsang Provinc
Dec. 18, 2018
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7-Eleven steps closer to full acquisition of Ministop Korea
South Korean retail giant Lotte Group’s convenience store chain 7-Eleven is likely to be picked as a preferred bidder for the full acquisition of Ministop Korea, industry sources said Tuesday. According to industry insiders, Ministop Korea’s selloff manager, Nomura Securities, was to announce a preferred bidder later Tuesday. Along with Lotte, Shinsegae and Seoul-based Glenwood Private Equity submitted bid proposals last month. 7-Eleven suggested the highest bidding price of 430 billion won (380
Dec. 18, 2018
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[Photo News] Samsung Signage in Istanbul
Samsung Electronics announced Tuesday it recently finished installing more than 700 sets of liquid crystal display and light-emitting diode signage at the New Istanbul Airport in Turkey. The combined surface area of the LED displays reaches 1,012 square meters -- the largest such area to be installed at an airport in the world, the company said.(Yonhap)By Korea Herald (khnews@heraldcorp.com)
Dec. 18, 2018
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Korean shipyards almost sweep LNG ship orders
South Korean shipbuilders have bagged over 80 percent of new orders placed around the globe this year to build liquefied natural gas carriers, industry data showed Tuesday.According to the data, Korean shipyards clinched new orders to build 56 LNG carriers in total, which is 86 percent of total new orders placed globally so far this year to construct 65 such ships. (Yonhap)By shipbuilder, Hyundai Heavy Industries Co., the world's top shipyard, has clinched deals to build 25 LNG ships this year.
Dec. 18, 2018