Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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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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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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GM moves to put Korean unit under court receivership
General Motors is preparing to put its Korean arm GM Korea under court receivership after the government expressed negative feedback in designating the automaker’s two plants in Korea as foreign investment zones, according to local news reports Friday. The automaker’s headquarters has reportedly completed its review on moving its production of GM Korea’s key export model Chevrolet Trax to China. It will also gradually remove its production lines in Korea, leaving only research, design and sales
April 13, 2018
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Hanmi Pharma gives up on development of lung cancer drug Olita
South Korean pharmaceutical firm Hanmi Pharmaceutical is expected to cease development of Olita, a lung cancer treatment, following its slow progress in clinical trials and cancellation of licensing deals with foreign drug makers. According to the Ministry of Food and Drug Safety, Hanmi submitted a plan to end the development of Olita 200 mg and 400 mg. The ministry has given a green light for sales of Olita in 2016, on condition that phase 3 clinical trials data are submitted. Olita, until rece
April 13, 2018
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Police to look into Korean Air heiress over alleged assault
Police said Friday they would look into the heiress of Korean Air’s alleged assault at a company meeting, where she is suspected of throwing a cup of water at an employee of an advertisement company last month. Cho Hyun-min, executive director of Korean Air (Korean Air)Seoul’s Gangseo Police Station launched a preliminary investigation to determine whether there are enough grounds for violations of laws subject to formal investigation. The incident surfaced online Thursday after an anonymous wri
April 13, 2018
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Samsung expands patent holdings in US
Samsung Electronics Co. is focusing on expanding its patent holdings in the United States, industry sources said Friday, amid intensifying industrywide intellectual property rights disputes.The South Korean company held 119,337 patents around the globe as of end-2017, with the US accounting for 46,150, followed by South Korea with 24,860 and Europe with 10,509. The tech giant had 11,005 and 7,086 patents in China and Japan, respectively, data showed.Industry watchers said it was also significant
April 13, 2018
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[Newsmaker] Mobile carriers say cost breakdown disclosure could expose business secrets
South Korean mobile carriers on Thursday expressed concerns about the country’s top court’s ruling to reveal the breakdown of their operating costs to the general public. The Supreme Court of Korea earlier Thursday upheld the ruling made by a local high court, which claimed consumers’ access to information regarding operating costs of the telecom companies is a right granted by the Constitution for a clearer understanding of fees being charged. In other words, the court’s judgment could be inter
April 12, 2018
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Korean department stores break off contracts with Korean actresses
Lotte Department Store did not extend its contract with actress Shin Min-a, effectively putting an end to the practice of hiring celebrities as exclusive models for department stores here.Korean department stores previously had the practice of hiring popular actresses to represent their businesses as exclusive models. However, Shinsegae and Hyundai department stores, as well as Galleria, had stopped employing celebrity models since the early 2000s. Shinsegae’s last exclusive celebrity model was
April 12, 2018
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Diageo Korea opens local entries for World Class bartending competition
Diageo Korea said Thursday it is opening to entries for the domestic portion of the World Class bartending competition, which Diageo has hosted since 2009. Hong Doo-eui, Korea’s 2017 representative for Diageo’s World Class bartending competition, poses after his win in the local competition last year. (Diageo Korea)Diageo’s World Class bartending competition, which marks its 10th competition this year, is dubbed the “world cup of bartending.” Some 10,000 bartenders from 60 countries participate
April 12, 2018
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Korea to set aside W15b for IP protection
The South Korean government will set aside 15.4 billion won ($14 million) to help protect the intellectual property of small and midsized exporters, the Korean Intellectual Property Office said Thursday. The patent office said it has selected 205 promising companies from a total of 845 companies that had applied for the program this year. Among them, 51 companies are developing next-generation technologies, such as artificial intelligence, virtual reality, precision medicine and the internet of
April 12, 2018
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ICCK partners with Incheon Port Authority
The Indian Chamber of Commerce in Korea signed a memorandum of understanding with the Incheon Port Authority early this month to cooperate in connecting businesses of Korea and India, according to the ICCK on Thursday. The ICCK said the two organizations would act as a bridge between the two countries in terms of investments and national projects. They will share information, such as newsletters, press releases and bulletins, and promote their activities with their members and associated organiz
April 12, 2018
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McDonald’s Sinchon outlet bids adieu
The McDonald’s outlet near Sinchon Station Exit No. 3 has closed for good after serving its last customers on its final day of business Wednesday. The restaurant was a landmark in the district, selling burgers for 20 years in the vicinity of Yonsei University. When news hit social media in mid-March that the outlet was going to be shuttered due to rising rent, online reactions ranged from disbelief to shock. The McDonald’s sign was taken down from the Sinchon Station branch at around 1:30 a.m. T
April 12, 2018
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Union officials questioned in probe into Samsung's alleged attempts to sabotage organized labor
Prosecutors on Wednesday called in three labor union officials of a Samsung Electronics unit as part of a probe into the tech giant's alleged attempts to sabotage the establishment of labor unions in affiliated companies. Ra Doo-shik, labor union chief of Samsung Electronics Service, and two other officials were questioned by the prosecution as reference witnesses, the Seoul Central District Prosecutors' Office said. The prosecution obtained official statements from them detailing claims against
April 11, 2018
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‘Small-giant’ retailer Style Nanda captures eye of L’Oreal
Social network platforms were abuzz with the news of South Korea’s fashion and beauty brand Style Nanda deciding to sell its 70 percent stake to L’Oreal for 400 billion won ($37 billion) on Tuesday. Style Nanda CEO and Founder Kim So-hee (Kim So-hee instagram)Industry insiders said it is a representative case of the global beauty giant recognizing the brand power of a Korean label, particularly in the Chinese market.According to Swiss financial services company UBS, Style Nanda’s deal partner,
April 11, 2018
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Incheon Airport touted as convenient service provider for PyeongChang Olympics, Paralympics
Incheon Airport successfully achieved the role of a transport hub during the 2018 PyeongChang Winter Olympics and Paralympics in February and March, the airport said, citing feedback from Olympics athletes and related officials. Incheon International Airport CEO Chung Il-young (left) shakes hand with International Paralympic Committee President Andrew Parsons at Incheon Airport in March. (IIAC)South Korea‘s main gateway operated special arrival and departure services exclusively for Olympics te
April 11, 2018
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Hyosung participates in textile show in Ho Chi Minh City
South Korean textile giant Hyosung is participating in a textile exhibition being held in Ho Chi Minh City to seek new business opportunities in the emerging market, the company said Wednesday.Vietnam Saigon Textile & Garment Industry Expo 2018 is the largest textile exhibition in Vietnam. Hyosung is presenting its spandex brand Creora, which is highly resistant to chlorine -- a chemical used to keep swimming pools free of bacteria -- and has deodorizing effects that could be helpful in Vietnam’
April 11, 2018
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Hanwha chief’s son attends business leaders’ club at Boao
Kim Dong-won, an executive at Hanwha Group’s financial arm, attended a roundtable session of global business leaders hosted by Chinese President Xi Jinping at the Boao Forum on Wednesday. Kim, 33, was one of 50 business leaders invited to the meeting with the Chinese president. The list of attendees included Derong Chen, president of China Baowu Steel Group, Minsheng Yang, executive chairman at China Life Insurance Company, and Takeshi Uchiyamada, chairman of the board of directors at Toyota Mot
April 11, 2018
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Posco’s global CSR project wins UN recognition
Posco Steel Village in Vietnam (Posco)The United Nations has recognized a corporate social responsibility project by South Korean steel giant Posco as a case leading its sustainable development goals aimed at transforming the world by 2030.Posco has been building steel-framed residences in poor neighborhoods in cities where the company operates. The project titled Posco Steel Village is aimed at providing sustainable living spaces for them by using the company’s steel products and architectural
April 11, 2018
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Innocean Worldwide to host Marvel Run 2018
Innocean Worldwide, an advertising arm of Hyundai Motor Group, will host the Marvel Run 2018 at the Nanji Hangang Park as part of its efforts to boost future competitiveness, the company said Thursday.Various venues incorporating Marvel characters, including a Hulk concept energy drink zone, will be offered. Poster of Marvel Run 2018 (Innocean Worldwide)The 5 kilometer-long sports event will take place from Nanji Hangang Park to World Cup Stadium Park located in Sangam-dong, eastern Seoul, on Ap
April 11, 2018
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[Doing Biz in Korea] ‘FDI should move from quantity to quality’
The Korea Herald is publishing a series of features and interviews on South Korea’s business environment for foreign companies and investors. This is the fourth installment. -- Ed.Foreign direct investment has significantly contributed to the Korean economy over the decades. It has nearly doubled in the last 10 years to reach $22.8 billion last year, creating around 700,000 jobs and contributing to 20 percent of the nation’s total exports last year. Now, Korea should be wiser in attracting such
April 11, 2018
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L’Oreal to buy 70 percent stake in Korean fashion, makeup firm Nanda
Korean fashion and cosmetics company Nanda, which runs the popular clothing brand Style Nanda, has selected L’Oreal as the preferred bidder to buy a 70 percent stake in the company, reports said Tuesday.The deal with the French cosmetics giant is estimated to be worth 400 billion won ($375 million). Nanda’s founder Kim So-hee, 35, who holds a 100 percent stake in the firm, will have a 30 percent stake in the company after the sale, according to reports that cited Swiss global investment bank UBS
April 11, 2018
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Credit card spending by male customers on the rise: Shinsegae
The average spending by the holders of Shinsegae Department Store's new credit card for "lifestyle-oriented" men is seven times higher than other cards issued by the company that are predominantly used by women, South Korea's leading retailer said Wednesday.The average expenditures stood at about 3 million won ($2,819) for a month after the Shinsegae Men's Life Samsung Card was launched March 2, the department store said.The amount compares with about 400,000-500,000 won spent by the holders of
April 11, 2018