Most Popular
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[KH Explains] Why Korea's so tough on short selling
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[Weekender] Geeks have never been so chic in Korea
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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‘Kim desperately wanted to denuclearize,’ Moon writes in memoirs
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Actors involved in past controversies return first via streaming service originals
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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Korea set to finalize medical school expansion plans
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Seoul City to open 'hotel' on river bridge
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N. Korea slams US subcritical nuclear test, vows measures to bolster nuclear deterrence
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[KH Biz Forum] Digital transformation key in ASEAN content market entry
Facing a wave of mobile-first digital transformation, traditional media contents like recorded video, comic books and studio albums give way to live-streaming video services, webtoons and digital songs. Southeast Asian countries are no exceptions from such digital transformations, both posing challenges and heralding new opportunities to Korean business entities, Lee Sung-min, research associate at the state-led Korea Culture and Tourism Institute, told audience at a business forum hosted by The
Oct. 16, 2018
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[Photo News] Korea Herald Biz Forum: ASEAN and New Asia
To spotlight the significance of South Korea-ASEAN relations, The Korea Herald hosted the “The Korea Herald Biz Forum: ASEAN and New Asia” at Shilla Hotel in Seoul for four hours on Tuesday morning.More than 200 prospective investors, diplomats, and business executives from Korea and the 10 ASEAN nations attended the forum to increase the strength of their partnerships. The forum started with Deputy Secretary-General Aladdin D. Rillo’s presentation on the overview of the ASEAN economy. The follo
Oct. 16, 2018
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[KH Biz Forum] ASEAN official predicts bright future for partnerships with Korea
The outlook for economic partnerships between South Korea and the ASEAN region is optimistic, given the willingness on both sides to pursue stronger ties in the areas of trade and technology cooperation, according to a high-ranking official from the Association of Southeast Asian Nations Economic Community.“I am very optimistic about future partnership between ASEAN and Korea as efforts are ongoing to make sure the free trade agreement really works and to come up with results that benefit both r
Oct. 16, 2018
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Hyundai Motor's leverage to improve over next 12-18 months: Moody's
Moody's Investors Service, a global credit rating agency, on Tuesday said it expected Hyundai Motor Group's financial leverage to improve over the next 18 months on increasing profitability.(Yonhap)The financial status of Hyundai and Kia, South Korea's two biggest carmakers, will improve gradually over the next one and a half years, helped by improving sales in China, higher utilization rates in their US plants and the launch of new models, Moody's said in a report. "This improvement will be dri
Oct. 16, 2018
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Nuclear safety commission OKs restart of Kori No. 2 nuclear reactor
South Korea's nuclear safety commission on Tuesday approved the restart of a nuclear reactor that was shut down six months ago.The 650-megawatt Kori No. 2 reactor in the southern port city of Busan went offline on April 17 for routine inspections. (Yonhap)The Nuclear Safety and Security Commission said it has repaired two cracks on the outer surfaces of an auxiliary building and another building that houses the nuclear fuel.The Kori No. 2 reactor is expected to operate at full capacity on Friday
Oct. 16, 2018
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ASEAN becomes center stage for Korean retail, beauty and entertainment biz
With Southeast Asia becoming the center stage for South Korean businesses in expanding their global presence, retail conglomerates like Lotte, Shinsegae and CJ have been successfully tapping into the markets.Lotte Group has focused its investments on its retail arm Lotte Shopping’s entrance to the Indonesian market. According to the company, the Indonesia market accounts for 17 percent of total sales earned from overseas Lotte Group businesses.Lotte Mart’s Batam outlet in Indonesia (Lotte Shoppi
Oct. 15, 2018
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Korean businesses venture into ASEAN in search of new opportunities
Seeking new opportunities amid intensifying competition and a shift in the industrial and manufacturing landscape, South Korean businesses are jumping into new markets in the ASEAN region in line with the government’s diplomatic push to strengthen ties there.Seeking to make the most of amicable bilateral relationships and the popularity of Korean culture in the region, “Korea Inc.” has set its eyes on ASEAN, a region full of emerging markets brimming with passion for economic development. Rising
Oct. 15, 2018
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FTC head Kim Sang-jo bombarded with questions over corruption
Fair Trade Commission Chairman Kim Sang-jo was bombarded with questions from both ruling and opposition parties over corruption allegations related to the FTC’s retirees during a parliamentary inspection Monday. This put further pressure on the nation’s antitrust watchdog amid an ongoing investigation by prosecutors into top officials accused of forcing conglomerates to hire the FTC’s retirees. Fair Trade Commission Chairman Kim Sang-jo answers to a question by a lawmaker during a parliamentary
Oct. 15, 2018
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The Korea Herald to host Biz Forum on ASEAN and New Asia
Southeast Asia is increasingly emerging as an important market for South Korean companies, particularly in light of the of the Moon Jae-in government’s “New Southern Policy” that aims to elevate Korea’s ties with the Association of Southeast Asian Nations and India.And with shifting geopolitical relations, South Korea’s economy is expected to play a bigger role in the years ahead in bridging the Northeast Asian market with markets in Southeast Asia.With this, The Korea Herald is hosting its inau
Oct. 15, 2018
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SK Biopharmaceuticals builds AI-powered drug development platform
SK Biopharmaceuticals, the new drug development unit of South Korea’s telecom-to-energy conglomerate SK Group, said Monday it had finished developing an artificially intelligent drug development and design platform that is expected to speed up its new drug discovery efforts. The AI platform was built by studying the vast amount of research on central nervous system disorders and developing optimized algorithms in partnership with SK Holdings C&C and its AI platform Aibril. AI-supported drug deve
Oct. 15, 2018
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KOTRA advises Korean startups to head to Europe
In line with South Korean President Moon Jae-in’s state visit to France, the Korea Trade-Investment Promotion Agency on Monday released a report highlighting Europe as the place to be for Korean startups.According to the report, Europe has concentrated efforts on creating an ecosystem for startups as its strategy for survival in the “fourth industrial revolution.” London, Berlin, Paris, Stockholm, and Amsterdam ranked among the world’s leading 20 startup ecosystems, according to a 2017 report by
Oct. 15, 2018
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Samsung stands at 64th place in corporate responsibility ranking: poll
Samsung Electronics Co., South Korea's biggest conglomerate by sales, came in 64th place in corporate responsibility this year, which falls far short of its No. 6 ranking in brand value, a US market survey showed Sunday. In the 2018 Global Corporate Responsibility Trak 100 rankings released by the Reputation Institute, the world's biggest chip giant scored 64.9 points to rank 64th, up from 89th with 64.5 points a year earlier. (Yonhap)Samsung's ranking has improved this year compared with a yea
Oct. 14, 2018
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Heads of Hanwha, Heritage Foundation call for stronger US-Korea alliance
The chiefs of South Korea’s Hanwha Group and the US-based Heritage Foundation called for efforts to strengthen the US-Korea alliance during a meeting in Seoul on Friday, the conglomerate said Sunday. Hanwha Chairman Kim Seung-youn and Heritage Foundation founder and former president Edwin J. Feulner Jr. exchanged ideas on various topics, including cooperation on strengthening US-South Korea relations, forging peace on the Korean Peninsula and the US-China trade war. The two have met regularly si
Oct. 14, 2018
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Govt mulls injecting 800 bln won into Hyundai Merchant for normalization
The government is considering an injection of 800 billion won ($706 million) into Hyundai Merchant Marine Co., the nation's leading oceangoing shipping company, within this year to help it tide over mounting losses, industry sources said Saturday.The company's largest-shareholder Korea Development Bank and the state-run maritime business promotion agency Korea Ocean Business Corp. (KOBC) said they are reviewing a plan in which Hyundai Merchant issues bonds and the two purchase 400 billion won wo
Oct. 13, 2018
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Philip Morris to begin selling Korean-made heated tobacco unit
Philip Morris Korea Inc. said Thursday that it will begin selling its tobacco sticks, called Heets, produced at its factory in South Korea later this month.To this point, Philip Morris Korea imported Heets for sale in South Korea. Heets (Yonhap)Philip Morris Korea has expanded its production facility in Yangsan, the first facility in Asia to manufacture heated tobacco units for its tobacco heating device IQOS. Yangsan is a city located about 420 kilometers southeast of Seoul.The share of Heets,
Oct. 11, 2018
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[Trending in Pairs] How far has ‘retail tech’ advanced?
After the world’s first experimental cashier-free grocery store Amazon Go opened in the US earlier this year, it did not take long for the trend to land in Korea. An increasing number of customers are going cashless or even credit card-free, as payment options through palm scanning or via app have become easier at offline shops. But there is also a pronounced trend among Korean customers who enjoy a traditional yet convenient way of purchasing products in comfort: home shopping. South Korean hom
Oct. 11, 2018
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LS C&S to provide $125m extra-high voltage cable to Bahrain
LS Cable & System signed a contract with Bahrain Electricity and Water Authority for its extra-high voltage cable project worth 142 billion won ($125 million). The project involves setting up a new electrical grid in Bahrain to provide necessary power as part of the government’s efforts to industrialize and urbanize the nation. (Yonhap)LS Cable & System will be supplying 400-kilovolt extra-high voltage cables and also be in charge of engineering works involving electricity and civil engineering
Oct. 11, 2018
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GS sends $200,000 for earthquake victims in Indonesia
GS Group said it was sending $200,000 to assist the Indonesian victims of the 7.5-magnitude earthquake and resulting tsunami that devastated the island of Sulawesi last month.The donation, comprising $100,000 from GS Energy and $100,000 from GS Global, will be used to purchase supplies for the relief work and to restore the damaged areas, the group said.“We hope the funds will be helpful for Indonesians who are suffering the devastating impact of the sudden earthquake and tsunami,” said a spokes
Oct. 11, 2018
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Celltrion’s Rituxan biosimilar wins backing from US FDA advisory committee
South Korean biopharma company Celltrion is on track toward launching its Rituxan biosimilar in the US market, as the drug has obtained the endorsement of the US Food and Drug Administration’s drug advisory committee.Celltrion and its marketing partner Teva Pharmaceutical Industries said Thursday that the US FDA’s Oncologic Drugs Advisory Committee voted unanimously 16-0 to recommend the approval of CT-P10, indicating the drug is highly likely to win the FDA’s final approval. The decision came a
Oct. 11, 2018
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Court denies arrest warrant for Shinhan Financial chief
A Seoul court turned down early Thursday a prosecution request for a warrant to arrest Shinhan Financial Group Chairman Cho Yong-byoung, who is suspected of involvement in alleged unfair hiring of new employees. The Seoul Eastern District Court said he presents a low risk of fleeing or destroying evidence, given his social and residential status. (Yonhap)Cho, 61, is accused of having his officials give undue favors to job applicants who were either children or relatives of influential people suc
Oct. 11, 2018