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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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Seoul to deploy more military doctors to fill med prof void
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Samsung heir maintains low profile amid backlash, probe
Samsung’s de facto chief appears to be taking efforts to say out of the public eye, rather than resuming his official duties, amid stronger-than-expected backlash over the court’s decision that released him earlier this week, as well as a police probe into his father’s secret funds. Samsung Electronics Vice Chairman Lee Jae-yong reportedly expressed his intention to return to work as soon as possible while he was in custody. However, it seems to be difficult for him to return anytime soon, a Sam
Feb. 8, 2018
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Hyundai Mobis fined W500m by FTC, reported to prosecutors
The Korean Fair Trade Commission imposed a fine of 500 million won ($459,000) on Hyundai Mobis, the parts arm of the nation’s largest automaker Hyundai Motor, and will report the firm to prosecutors on the suspicion that it forced its agencies to buy car parts. According to the FTC, Hyundai Mobis had set an excessive goal of selling its car components and forced its regional agencies to buy the products in order to achieve the target from January 2010 to November 2013. “The sales goals were 3 to
Feb. 8, 2018
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[Monitor] Sales gains from buildings soar
Average gains from selling buildings have increased to nearly 100 million won ($92,000) per case as of 2016, according to statistics from the National Tax Service. The transfer gains from buildings increased by 51.4 percent between 2013 and 2016. While it cost more to purchase a building at an average of 213 million won, the average sale price has also gone up to 376.4 million won. (khnews@heraldcorp.com)The average price of a case, however, does not necessarily mean the price per building as th
Feb. 8, 2018
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[Feature] How local supermarket became Koreans' new favorite restaurant
With lines amongst industries blurring, an increasing number of supermarkets have transformed themselves into “grocerants” -- a term coined combining grocery and restaurants -- stocking shelves with ready-to-cook foods and offering in-store dining. “It’s beyond just a food stand where people cook for you. Including the quality and freshness of the food, it feels more like a full-service type of restaurant,” said a 31-year-old Hwang Young-ju, who said she enjoys the eateries after a round of groc
Feb. 8, 2018
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Leading LED firm files 3rd patent suit against US distributer
Seoul Semiconductor, a leading light-emitting diodes manufacturer here, has filed a patent lawsuit against electric component distributer Mouser Electronics for selling patent-infringing products, officials said Thursday.The semiconductor company filed the litigation in the Court of Milan, claiming the US-based distributer and its Italian subsidiary consistently sold items that infringe upon its patent. The disputed products are manufactured by Taiwanese LED manufacturer Everlight Electronics.In
Feb. 8, 2018
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Posco opens steel solution center in Vietnam
Posco, South Korea’s leading steelmaker by sales, opened its first overseas steel solution marketing center in Vietnam in an attempt to predominate the premium steel market, the company said Thursday.The roles of the center include managing steel sales along with offering technologies in molding and improving efficiency to partner companies to beef up their competitiveness.A total of 25 professionals in construction will be stationed at the center, the company said.The opening ceremony of the ce
Feb. 8, 2018
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[PyeongChang 2018] Lotte chairman to stay in PyeongChang during Olympics
The head of South Korean retail giant Lotte is planning to stay in PyeongChang throughout the Winter Olympic period to carry out sports diplomacy, company officials said Thursday, with the international event now just one day away.Lotte Group Chairman Shin Dong-bin will head to the alpine town of PyeongChang, 180 kilometers east of Seoul, to attend the opening ceremony Friday, they said. Shin Dong-bin, the head of South Korean retail giant Lotte, carries a torch for the 2018 PyeongChang Winter O
Feb. 8, 2018
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Govt. to bolster chip, display industries, improve localization
The industry ministry launched a project Thursday to bolster the country's semiconductor and display sectors through new technology development and localized production.The project will be driven by the "Gap 5" strategy, under which Korea will try to maintain a five-year lead compared to emerging economies in the two sectors while at the same time closing the gap with advanced nations.The underlying consensus is that while Korean companies are the leaders in the global semiconductor and display
Feb. 8, 2018
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Completion of new reactors delayed by quake-safety inspections
The completion of two new nuclear reactors has been delayed by eight months to meet strengthened safety requirements against earthquakes, the energy ministry said Thursday.Construction of Shin-Hanul No. 1 and No. 2 reactors began in April 2010 and was planned to be completed by February next year. Ministry officials said the postponement to October is due to delayed test operation of another reactor, Shin-Kori No. 4.All three of the new reactors passed previous safety inspections, but were place
Feb. 8, 2018
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[Feature] Local beer makers struggle amid imported beer boom
Cass has long been a household name in Korea -- even to those who do not imbibe. Korea’s No. 1 beer maker Oriental Brewery has been around for over 80 years, but it has only recently been making moves into overseas markets like China.Even for a well-established brand with sales of 1.5 trillion won ($1.4 billion) in 2016, the reason is clear and simple -- local beers aren’t selling so well in Korea. Korea’s beer market had long been dominated by two local power brands: Cass by OB and Hite by Hite
Feb. 7, 2018
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GS Caltex to invest W2tr in olefin production facility
Korea’s leading oil refiner GS Caltex announced on Wednesday it will make an investment of 2 trillion won ($1.8 billion) in an olefin production facility, mixed feed cracker, near its plant located in Yeosu, South Jeolla Province. Olefin is an unsaturated hydrocarbon that contains at least one carbon–carbon double bond. It includes ethylene and propylene as one of the most common petrochemical classes. Through the plant, GS Caltex plans to produce 700,000 tons of ethylene and 500,000 tons of pro
Feb. 7, 2018
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LG stepping up game with focus on R&D
Although rivals tend to attack LG’s struggling smartphone business, the tech conglomerate remains unfazed, setting its sights on innovation in its lucrative mainstays, with its focus for this year on research and development.LG plans to invest 19 trillion won ($17 billion) this year, with the bulk of it set aside for next-generation technologies including car components, self-driving sensors, plastic organic light-emitting diodes, camera modules and the bio sector. LG’s keyword this year is R&D,
Feb. 7, 2018
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[PyeongChang 2018] McDonald’s Korea launches 3 Olympics-inspired items
McDonald’s Korea launched three new menu items Wednesday as one of the official partners of the 2018 PyeongChang Winter Olympic Games.The Golden Potato Burger, Golden Potato Tomato Muffin and Golden Potato Bacon Muffin are now available at McDonald’s Korea. The Golden Potato Burger (McDonald's Korea)The Golden Potato Burger consists of two beef patties, fried potatoes, white cheddar cheese and pine mushroom sauce, while the other two are breakfast items that each contain tomatoes, bacon and frie
Feb. 7, 2018
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Samsung Electronics OKs construction of 2nd chip line in Korea: source
South Korean tech giant Samsung Electronics Co. has approved a preliminary investment plan to set up a second chip-production line near Seoul, an industry source said Wednesday.The Management Committee -- the top decision-making body at Samsung Electronics -- held a meeting earlier in the day and endorsed the plan without opposition, the source said.The committee is composed of three top Samsung executives, Kwon Oh-hyun, Yoon Boo-keun and Shin Jong-Kyun.Samsung Electronics said it had no comment
Feb. 7, 2018
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Tougher rule to subject more chaebol firms to inter-unit trading ban
Nearly 30 subsidiaries of South Korea's family-controlled conglomerates may be newly subject to a ban on inter-affiliate trading when the nation's antitrust watchdog toughens a related rule, a market tracker said Wednesday.In a policy report last month, the Fair Trade Commission said it will seek to revise the law forbidding inter-affiliate trading within a business group whose owner and family hold 30 percent or more of listed affiliates by lowering the threshold to 20 percent. For unlisted sub
Feb. 7, 2018
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[News Focus] Samsung heir’s comeback places FTC in a bind
The verdict by an appeals court in Seoul freed the heir apparent to South Korean tech giant Samsung on Monday, but it has also placed the nation’s top market regulator in a bit of a bind in moving along its chaebol reform drive.Led by Kim Sang-jo, a former shareholders’ rights advocate, the Fair Trade Commission has been pressing South Korean chaebol to voluntarily bring changes to their backdoor partnerships with politics and opaque governance structures, as well as to ban inter-affiliate tradi
Feb. 6, 2018
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[Monitor] More businesses plan Lunar New Year bonuses
Seven out of 10 businesses in South Korea plan to give out bonuses for the Lunar New Year holiday, a survey by the Korea Employers’ Federation showed Tuesday.The amount has also risen by 32,000 won to 1.16 million won per employee from last year.In 2017, 68.4 percent of the surveyed firms said they were giving out bonuses for the Lunar New Year, while 71.4 percent said they will do so this year.Most, or 68 percent of the companies with the bonus plans, said they were part of the regular rewards,
Feb. 6, 2018
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KT, Hyundai E&C to bring AI to apartments in 2018
Network provider KT has joined hands with Hyundai Engineering & Construction to bring artificial intelligence-powered services to new apartments starting in the first half of 2018, according to KT Tuesday.The two companies signed an agreement Tuesday to cooperate in bringing KT’s artificial intelligence services to Hyundai E&C’s apartments.Lee Pil-jae, Head of Marketing for KT (right), and Kim Jung-chul, Senior Vice President of Hyundai E&C at the Hyundai E&C headquarters in Jongno-gu, Seoul Tue
Feb. 6, 2018
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Convenience stores venture into cosmetics territory
Until recently, the only cosmetic products customers could find at convenience stores were miniature skin care products -- typically packaged in travel kits. Major convenience store chains, however, are venturing into what is viewed as drugstore territory, with the launch of affordable and fashion-forward lines of makeup, looking to appeal to millennial consumers.In Korea, beauty products constitute a 300 billion won ($276 million) industry, which increased 20 percent on-year in 2016.And more co
Feb. 6, 2018
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Netmarble to launch mobile game ‘BTS World’
A mobile simulation game with K-pop phenomenon BTS is to be released in the first half of the year.Korean publisher Netmarble Games introduced “BTS World” in the lineup of new games at the 4th Netmarble Together with Press, held Tuesday. “BTS World” is a mobile game where users can manage and train members of the Korean idol group. (Netmarble)Bang Jun-hyeok, chairman of Netmarble’s board of directors, said that musical and visual content of BTS had been made exclusively for the game. More than
Feb. 6, 2018