Most Popular
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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South Korea to launch space security center under spy agency
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More med professors to take day off each week while govt. urges them to stay
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Hybe refutes Ador CEO Min's denial of breach of trust
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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Legoland Korea Resort to open until 9 p.m.
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Korea’s NongHyup Bank improves financial services through SAS analytics tech
Faced with stiff competition in financial services, banks around the world have been striving to maximize their operational efficiency and customize services using digital analytics technologies.Capitalizing on this demand is SAS, a US analytics software firm that has been providing banks with high-powered analytics capabilities to help them provide more personalized services to their clients. One example is South Korea’s NongHyup Bank, one of the country’s largest lenders with more than $250 bi
July 3, 2018
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Passengers slam Asiana Airlines service
Passengers traveling via Asiana Airlines on Sunday and Monday had to endure unexplained departure delays stretching up to five hours, subsequently followed by a journey without in-flight meals. On Sunday, 36 Asiana flights took off without meals and 51 flights were delayed out of the 80 planes scheduled for the day. The next day, 18 flew without meals and 20 were delayed out of 75 flights, according to the tally by Asiana Airlines.Angry comments from hungry passengers took online platforms by st
July 3, 2018
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Hyundai Motor's India sales to top 500,000 units this year
NEW DELHI - Hyundai Motor Co.'s sales in India are expected to exceed the 500,000-unit mark for a third year in 2018 thanks to its diversified lineup, industry watchers said Tuesday.Hyundai Motor, South Korea's top automaker, sold 229,765 vehicles in the Indian market between January and May this year, up 6.4 percent from a year earlier, according to data from the Society of Indian Automobile Manufacturers.Hyundai Motor posted the second-highest market share of 15.8 percent in Asia's third-large
July 3, 2018
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Samsung, SK hynix to hand out large bonuses amid robust chip sales
South Korean chipmakers are expected to pay large bonuses to their workers this month amid the prolonged boom in the global semiconductor market, corporate sources said Tuesday.Samsung Electronics Co. told its workers that the company will provide target-achievement incentives, handed out every six months, this week. The amount depends on the performance of each division, and can reach up to 100 percent of an employee's monthly salary.Corporate sources said the chip division received a full bonu
July 3, 2018
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[Herald Interview] Honeywell taps deeper into Korean aviation market
US aircraft solutions provider Honeywell is tapping deeper into the growing Korean aviation market with its new connected aircraft and flight efficiency solutions that help save fuel costs. In the last five years, Korea’s air traffic has increased by an average of 6.9 percent per year, outpacing the global average of 5.6 percent, according to government data. Honeywell expects this growth to be sustainable, as Korea is focusing on attracting more visitors to the country. “South Korea remains a p
July 2, 2018
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Korea Inc. put to test under shorter working-hour system
Shorter working hours kicked off nationwide Monday, testing both the competiveness and productivity of Korea Inc., which has long relied on a workforce that puts in long hours for its dramatic growth. Marking a significant change in the nation’s labor market, after the five-day workweek was adopted in 2004, the new system requires workers to work less than 52 hours a week. It has taken effect for large businesses with more than 300 employees for now. Smaller businesses with fewer than 300 worker
July 2, 2018
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New LG chairman gets right to business
Koo Kwang-mo, the new CEO and chairman of LG Corp., on Monday started off his first day as the chief of the fourth largest conglomerate in South Korea, focusing on major issues across the group’s affiliates. The 40-year-old group head skipped an inauguration ceremony and started figuring out major issues of the group in a new office room on the 30th floor of the east building of LG Twin Tower in Yeouido, western Seoul.“While inheriting and developing my predecessor’s management direction based o
July 2, 2018
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SK Chemicals spins off vaccine business into ‘SK Bioscience’
SK Chemicals announced Monday that it has spun off its vaccine business division into a new unit called SK Bioscience. The spinoff was completed as of Sunday. SK Bioscience has been established as a wholly-owned subsidiary of SK Chemicals.With the split, SK Chemicals will focus on the chemical materials and chemical combination drug business, while SK Bioscience will focus on the vaccine business with aims to maximize shareholder value. (SK Bioscience)The new subsidiary will be led by Ahn Jae-yo
July 2, 2018
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S. Korea shortlisted for Saudi Arabia's nuclear project
South Korea has been included on the shortlist for a nuclear project in Saudi Arabia, boosting hope for its second export bid in the Middle East following a deal in the United Arab Emirates, Seoul's energy ministry said Sunday.Saudi Arabia selected five countries -- South Korea, the United States, France, Russia and China -- as preferred bidders for the kingdom's first nuclear project, the Ministry of Trade, Industry and Energy said. (Herald DB)The kingdom plans to build two nuclear reactors wit
July 1, 2018
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[Photo news] Cheering for the youths
CHEER UP, YOUNG -- Performers including singer-songwriter Baek Ga-young, folk song duo Okdal and poet Ha Sang-wook on Saturday perform at the Cheer Up 2030 Concert held by steelmaker Posco. The concert, held at Posco Center in Seoul and attended by some 300 college students, came as part of the company‘s long-term efforts to enhance communication with the young generation. (Posco)
July 1, 2018
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Battery business to gain further momentum in ‘fourth industrial revolution’ era: Samsung SDI
South Korea’s leading auto components maker Samsung SDI pledged to use the ongoing technological progress in the industrial world to add fuel to its battery business, officials said Sunday. Samsung SDI CEO Jun Young-hyun (left) poses with Kim Dong-chun, head of Sung Shiim Won, a child care center in Yongin, for an opening of Dream Academy. (Samsung SDI)“The advent of the ‘fourth industrial revolution’ is an opportunity for bigger growth. The importance of battery will only grow, since the hyper-
July 1, 2018
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S. Korea ramps up efforts to deter Trump’s proposed tariffs on cars
The South Korea government has delivered its opposition to the Trump administration’s gestures to up tariffs on imported cars, claiming the tariff hike may negatively boomerang on the US economy, according to Seoul’s Trade Ministry on Sunday. Reflecting the growing anxiety of the local auto industry, Minister of Trade, Industry and Energy Paik Un-gyu visited Washington last week to deliver Seoul’s stance on the issue to the related US politicians and business representatives. During consecutive
July 1, 2018
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Korean Air's brand value slides over owner family scandal
The brand value of Korean Air Lines Co. fell sharply in the second quarter over a series of allegations involving the family that owns it, an appraisal website showed Sunday.The flag carrier's brand value ranked 36th in the April-June period, down from 11th a quarter earlier, according Brandstock, a South Korean market research firm that determines the rankings of local brands.The decline reflects the intense public fire directed at Korean Air Chairman Cho Yang-ho's family over a series of alleg
July 1, 2018
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Hyundai Heavy cuts third of its executives in offshore & engineering division
Hyundai Heavy Industries Co., the world's largest shipbuilder by sales, said Sunday it has slashed a third of its executives in its offshore and engineering division as new orders have dried up.The move came a month before the shipbuilder is due to suspend work at its offshore facilities shipyard. The suspension scheduled for August is the first in 35 years.Hyundai Heavy has lost out to Chinese and Singaporean rivals in offshore projects in recent years due to higher costs. The labor costs of Ch
July 1, 2018
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[Feature] Popularity of meal kits change Koreans’ cooking at home
Office worker Kim Dong-bin has recently picked up the hobby of cooking, and his secret recipe is ready-to-cook meal kits. “Meal kits made my cooking a lot easier, with fewer responsibilities,” said Kim. After work, he used to run to get groceries, prepare the ingredients, cook and do the dishes. “For me, cooking was a time-consuming process even before sitting down to eat. But now, I cook restaurant-quality food at 30 percent less price in just about 20 minutes,” said Kim, adding that the kits h
July 1, 2018
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Lotte Duty Free opens second airport outlet in Vietnam
Lotte Duty Free said Sunday it has opened a new airport duty free store in Vietnam‘s southeastern city of Nha Trang, its second airport outlet in the Southeast Asian state and seventh among its total overseas locations. Lotte Duty Free‘s second airport outlet in Vietnam’s Cam Ranh International Airport’s new terminal in Nha Trang. (Lotte Duty Free)The company has secured exclusive rights to run the store until 2028 over the 1,680 square-meter area at Cam Ranh International Airport’s new terminal
July 1, 2018
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Korea against Trump's proposed auto tariffs
South Korea has delivered its opposition to the United States' move to impose tariffs on imported autos through various channels as part of efforts to minimize the fallout for the local automotive industry, Seoul's trade ministry said Sunday.Paik Un-gyu, Minister of Trade, Industry and Energy, visited Washington D.C. from June 27-29 to meet US policymakers and business leaders and shared concerns over the Donald Trump administration's proposed tariffs on foreign autos, his office said. The polic
July 1, 2018
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Posco Daewoo signs W300b contract for gas fields in Myanmar
Posco Daewoo, the energy development unit of steelmaker Posco, has partnered with two global energy firms to jointly develop new gas fields in Myanmar to sustain gas production there, the company said Friday.The firm inked a 300 billion won ($268.1 million) deal with McDermott and BHGE on the phase two development of gas fields Shwe and Shwe Phyu in Myanmar.“By successfully completing the phase two development, Posco Daewoo will make efforts to retain stable gas production at the company’s cash
June 29, 2018
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Korea’s Transport Ministry delays decision on Jin Air license revocation
South Korea’s Transport Ministry announced Friday that it will delay its decision on whether to revoke the business license held by Korean Air's budget affiliate Jin Air over the firm’s board appointment of a non-Korean member of the controlling family that violated local transport laws. The Ministry of Land Infrastructure and Transport said that it would initiate a formal hearing on the Jin Air case attended by company officials, before reaching a decision on the issue, a process which could t
June 29, 2018
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[Best Brand] Wireless vacuum cleaner Swing heads overseas
Swing Corp., which was established in 2002 under a previous name Shinan Greentech, is bringing a new trend to the vacuum cleaner market by introducing new technologies by combining the functions of the wireless wet and dry vacuum. By prioritizing trust with customers over short-term gains, the company, led by its chief O Bu-jeon, has been operating on the philosophy of brining innovative technologies and services, officials explained.Swing began with its WLE-550, 770 brands to introduce its vacu
June 29, 2018