Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Medical profs at top hospitals suspend surgeries, clinics
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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Police to open alleged stalking probe over pastor over Dior bag scandal
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Will Google, Apple be more transparent in tax?
Last October spectators got an eyeful viewing the parliamentary audit, as the founder of the country’s largest web portal lodged a full-on public attack against his global rivals.“Google and Facebook make good money here but don’t pay taxes and create no jobs,” Naver founder Lee Hae-jin said, as he was responding to criticism from lawmakers concerning the company’s own alleged abuse of its market dominance.He was effectively diverting attention away from Naver’s influence on news circulation to
Feb. 12, 2018
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Davich Optical celebrates 500th voluntary works
South Korea’s leading optical products chain operator Davich Optical celebrated its 500th volunteer project, providing free eyesight tests to senior citizens and offering goods to those in need, the company said Monday.Since its launch in 2012, the campaign has helped 31,204 people get their eyes tested and receive products to improve their vision.Most recently on Wednesday, Davich Optical CEO Kim In-gyu and representatives from 13 Davich franchise stores in North Jeolla Province marked the 500t
Feb. 12, 2018
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Overseas Korean volunteers to hold concert tour
More than 300 Korean university students, who returned home after a year overseas doing volunteer activities in 68 countries, will perform a homecoming concert titled the “Good News Corps Festival.” The festival is scheduled to be held in 13 major cities in Korea and Japan to share the love and happiness they experienced.The festival offers a unique experience through musicals, plays, traditional performances and exhibition and experience programs of African and Latin.The performances began Satu
Feb. 12, 2018
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Big companies face hefty fines for stealing technology owned by small firms
The government said Monday that it will strengthen the punishment for big companies that steal technology owned by small and medium enterprises in the latest move to create a fair market.The measures -- released after a consultative meeting with the ruling party -- would make big companies pay compensation of up to 10 times the damages incurred by smaller firms if they engage in technology theft, the government said.The government also said that it will be up to big companies suspected of steali
Feb. 12, 2018
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More funds of Samsung chairman found in borrowed name accounts
Financial authorities have found more funds of Samsung Group's ailing chairman, Lee Kun-hee, in bank and brokerage accounts held under other people's names, a lawmaker said Monday, days after Lee was booked for suspected tax evasion. In a report submitted to Rep. Park Chan-dae of the ruling Democratic Party, the Financial Supervisory Service said it has found that Lee kept money in 32 more "borrowed-name" accounts. Last week, police named Lee as a suspect in a tax evasion case, accusing him of m
Feb. 12, 2018
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Samsung Electronics' global market cap ranking slides to No. 18: data
Samsung Electronics Co.'s global market capitalization ranking slid to 18th place among the top 100 companies this year, though its overall size increased over the past year, data showed Monday.Samsung's market cap rose 16 percent on-year to $283.1 billion as of Feb. 2, according to the data compiled by the country's bourse operator Korea Exchange.Still, the South Korean tech giant saw is standing fall from 15th place. (Yonhap)The decline came as market capitalizations of foreign firms rose amid
Feb. 12, 2018
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Hyosung to invest $6b in Vietnam businesses
Calling Vietnam a strategic base for its global expansion, South Korean textile giant Hyosung said Sunday it will invest up to $6 billion in the Southeast Asian country.Since 2007, the company has invested $1.5 billion to operate manufacturing units of spandex and tire codes in Dongnai, an industrial city near Ho Chi Minh. With the new investment plan, Hyosung plans to start a chemical and heavy industry business in the country in addition to its textile business in the country, the company’s Vi
Feb. 11, 2018
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Dayou rises to No. 3 home appliance maker
Mid-size conglomerate Dayou Group is on track to become the third largest home appliance manufacturer in South Korea as it is going to acquire a majority stake in Dongbu Daewoo Electronics, according to the industry on Sunday.The group signed a stock purchase agreement with financial investors of Dongbu Daewoo on Friday after a heated competition with Turkey’s Vestel and Iran’s Entekhab for months to buy an 84.8 percent stake in the electronics firm. The acquisition price hasn’t been confirmed y
Feb. 11, 2018
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Steel mill, nuclear plants unaffected from Pohang earthquake
Major industrial facilities including Posco’s steel mill and Korea Hydro & Nuclear Power’s nuclear plants operated as normal, despite a 4.6 magnitutde earthquake in Pohang, North Gyeongsang Province, the companies said Sunday. Posco’s steel mill in Pohang is running without abnormal signs, the steelmaker said. The southeastern city, home to the country’s largest steelmaker, was hit by a 4.6 magnitude quake at 5:03 a.m., 5 kilometers northwest of the city’s northern district at a depth of 9 kilom
Feb. 11, 2018
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Interest in training pets growing in Korea
Last year’s most popular trends related to pets in Korea were training, buying them luxury items and showing off their photos online, according to a local marketing firm on Sunday. Innocean Worldwide released a report on new perception and consumer trends of pets based on the analysis of 4.1 million pieces of social data related to pets via portals, blogs, online cafes and communities throughout last year. Training pets was one of the popular trends among pet owners. Social perception toward pet
Feb. 11, 2018
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Korea‘s chip-led export diversifying into EVs, robots: report
South Korea’s exports mainly, led by the chip industry, are becoming more diversified as eight new industries related to the “fourth industrial revolution” are emerging as new growth engines, a study suggested Sunday. According to the trade report released by the Korea International Trade Association, all of the new eight industries saw double-digit growth last year.The eight new industries -- electric cars, robots, bio health, aerospace, energy, new materials, next-generation display and next-g
Feb. 11, 2018
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Samsung Electronics total assets topped W300tr
Samsung Electronics was reported to be worth 301.8 trillion won ($276.6 billion) as of the end of 2017, growing threefold compared to a decade ago, in part backed by rising value of tangible assets like facilities and real estate, according to a news report Sunday. Samsung Electronics marked the first private company in South Korea, excluding financial firms like banks, to see its total assets valued at over 300 trillion won. (Yonhap)The value of Samsung Electronics‘ total assets in 2017 soared
Feb. 11, 2018
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Korea refiners diversify business portfolios for growth
South Korean refiners are betting on non-refining activities to reduce their heavy reliance on their mainstream businesses amid the won's strength and lower cracking margins, industry sources said Sunday. As the won's strength against the dollar drives down cracking margins despite signs of recovering oil prices, local refiners have invested in non-refining businesses in recent years as part of their efforts to secure new growth engines amid growing uncertainties, they said.SK Innovation Co., th
Feb. 11, 2018
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[Monitor] Sales at department stores drop
Sales at department stores in South Korea fell by 2.1 percent last year from 2016 partly due to the rising popularity of online shopping, data from Statistics Korea showed Friday.Local department stores posted combined sales of 29.24 trillion won ($26.7 billion) last year.Overall retail sales, meanwhile, increased 4.4 percent to 402.91 trillion won. Department store sales accounted for 7.3 percent of the total, with the rate continuing to decline from 8.4 percent in 2013.Shopping done online or
Feb. 9, 2018
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Socially aware SK Group joins PyeongChang fever
Conglomerate’s social enterprise to supply meals during Winter GamesOver a period of 44 days surrounding the 2018 PyeongChang Winter Olympics from Jan. 14 to Feb. 26, some 36,000 meals are to be delivered to members of the staff and cast residing in 33 residences in the vicinity.And the company designated for the job is Happy Dosirak, or Happy Meal Box. Happy Dosirak‘s meal boxes to be provided to the 2018 PyeongChang Olympics staffThe company is one of the social enterprises run by nonprofit fu
Feb. 8, 2018
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Prosecutors raid Samsung office over corruption scandal linked to ex-President
Prosecutors on Wednesday raided the headquarters of Samsung Electronics Co. and the house of a former senior company official as part of their probe into a corruption scandal linked to ex-President Lee Myung-bak.Investigators from the Seoul Central District Prosecutors' Office confiscated computer hard discs and other materials from the company's main office in southern Seoul and from the home of Lee Hak-soo, a former group vice chairman. Employees move about the Samsung building in southern Seo
Feb. 8, 2018
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SK to launch research unit on social enterprises
SK Group is set to establish a nonprofit foundation in March to research ways of solving social programs by nurturing social enterprises, according to industry sources Thursday.The South Korean conglomerate said it has been planning the research unit to look into specific ideas for social enterprises not only to produce profits but also to bring changes to communities -- a corporate vision driven by its chief’s command.Chairman Chey Tae-won has been supporting social enterprises for years by run
Feb. 8, 2018
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[Graphic News] Korea ranks 10th worldwide in autonomous vehicle
South Korea ranks 10th among major economies in the world in terms of the autonomous vehicle readiness index, a report showed. According to the recent report from global accounting and consulting giant KPMG International, South Korea has received a total score of 20.71 points in the index, the 10th highest among the 17 other major countries. The index measures which countries are most prepared for self-driving cars and covers four categories -- policy and legislation, technology and innovation,
Feb. 8, 2018
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[Photo News] Visit to Songdo Bio Valley
(Samsung BioLogics)Swiss President Alain Berset (center) is briefed by Samsung BioLogics President Kim Tae-han on the company’s business portfolio and production facilities in Songdo on Thursday. The Swiss leader was accompanied by Linus Von Castelmur, the European country’s ambassador to Korea, as well as representatives of Roche Korea, a local branch of the Swiss drugmaker.
Feb. 8, 2018
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[Photo News] Not just a bag
(SK Group)SK Group Chairman Chey Tae-won shows off a backpack by Morethan, an upscaling company that making bags by reclaiming material from seat belts and leather from old cars, during his presentation on the businesses’ role for sustainable development at the Global Engagement and Empowerment Forum on Sustainable Development held at Yonsei University in Seoul, Thursday. The group’s energy arm SK Innovation has been supporting Morethan through an incentive program that measures the social value
Feb. 8, 2018