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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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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Seoul to deploy more military doctors to fill med prof void
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Medical profs at top hospitals suspend surgeries, clinics
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Samsung Lee's appeal puts spotlight on Lotte Chairman Shin's verdict
The ruling Monday that reduced the sentence of Samsung Electronics Vice Chairman Lee Jae-yong is bringing attention to Lotte Chairman Shin Dong-bin’s court verdict slated for next week.Monday’s verdict, which freed Lee, is expected to set the bar for how rulings on bribery charges involving family-run conglomerate owners will unfold. Lotte’s Shin, 62, will face a court verdict at the Seoul Central District Court on Tuesday on charges of bribery worth 7 billion won ($6.4 million) to a foundation
Feb. 6, 2018
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[PyeongChang 2018] Thousands of tourists to stay at Airbnb during PyeongChang Olympics
Airbnb Inc. said Tuesday over 9,000 tourists will visit PyeongChang and adjacent cities where the 2018 Winter Olympics will be held via the global room-sharing platform, with the international sports event set to kick off later this week.The number of travelers who made reservations in Gangwon Province, including in the Olympic host town of PyeongChang, 180 kilometers east of Seoul, during the event period rose 260 percent on-year, Airbnb said. The games are set to begin Friday for a 17-day run.
Feb. 6, 2018
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Samsung executive pledges to make efforts for 'speed management'
A top executive at Samsung Electronics Co. vowed Tuesday to engage in "speed management," which could be seen as a move by the tech giant to make aggressive business decisions.Samsung Electronics Vice Chairman Yoon Boo-keun made the comments in a brief meeting with reporters after attending a forum in central Seoul.Yoon did not elaborate on what he meant by speed management.His comments came a day after the company's Vice Chairman Lee Jae-yong was released from prison after being locked up for n
Feb. 6, 2018
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Rank-and-file Samsung workers calm upon heir’s return
In response to the news of Samsung heir Lee Jae-yong’s return, rank-and-file employees of Samsung Electronics and affiliates remained calm on Monday.“The result doesn’t directly affect rank-and-file employees, but it will matter more to the executives,” said an assistant manager-level employee at Samsung. “But the atmosphere is definitely more positive now as our team leaders look somewhat relaxed, and I think this will lead to good results in businesses, too.” Samsung headquarters in Seocho-don
Feb. 5, 2018
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Lee’s return to accelerate inroads into new biz, global network
With Samsung Electronics Vice Chairman Lee Jae-yong freed from jail Monday, the nation’s largest conglomerate is expected to accelerate new businesses that have been on hold in the absence of its de facto leader. “We are very relieved to hear the court decision, although we are still cautious about making any comments as the very final stage remains,” said a source from Samsung.As Lee still has to wait for the final decision by the Supreme Court, he is unlikely to immediately return to the compa
Feb. 5, 2018
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What Park’s corruption scandal cost Samsung
The court’s suspended sentence Monday at last released Samsung Group’s heir apparent Lee Jae-yong from imprisonment over his connection to the extensive scandal involving former President Park Geun-hye.During the 353 days of its de facto chief’s imprisonment, the nation’s top conglomerate has had a bumpy ride, despite record-breaking earnings.The first of the changes was the dismantlement of the group’s 58-year-old Corporate Strategy Office in March last year in response to accusations that the
Feb. 5, 2018
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[Breaking] Lee Jae-yong gets suspended sentence, released in appeals trial
Samsung Electronics Vice Chairman Lee Jae-yong was freed Thursday, as a Seoul appeals court cleared him of major charges and handed down a suspended sentence. The Seoul High Court overturned a lower court’s five-year sentence and handed down two years and six months in prison suspended for four years for bribery -- rejecting the special counsel’s argument that it was linked to his succession. Prosecutors had maintained a 12-year prison term for Lee.The 50-year-old scion of the biggest conglomera
Feb. 5, 2018
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[PyeongChang 2018] Coca-Cola Polar Bear adorns Olympics commemorative cans
As the longest-running Olympic partner of the Olympics since the 1928 Olympic Games in Amsterdam, the Coca-Cola Company unveiled its newest “Polar Bear special package,” celebrating the 2018 Winter Games’ opening ceremony slated for Friday. The limited edition package shows the brand’s most beloved character, the Coca-Cola Polar Bear, enjoying various Olympic sports, such as skiing, figure skating and snowboarding. This marks Coca-Cola’s third Olympics-related package. Former Olympic figure ska
Feb. 5, 2018
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[Monitor] Online shopping surpasses 78 trillion won
The amount of online shopping transactions made surpassed 78 trillion won ($71.6 billion) last year, the highest ever and up 19.2 percent from the previous year, data from Statistics Korea showed.Online shopping has consistently grown since 2014 by around 17 to 20 percent.Shopping online is also becoming more mainstream, with 21 percent of all retail sales in the month of December having taken place in cyberspace. Mobile shopping, in particular, marked a significant rise, extending to 47.8 trill
Feb. 4, 2018
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[IP in Korea] ‘Samsung-Apple patent war signaled end of industrial era’
The fierce commercial battles over the past years -- especially the smartphone patent war between Samsung and Apple -- prove that the world is standing at the very last stage of the third industrial revolution and on the verge of a new era, according to a senior lawyer specializing in intellectual property.“It is during major transition periods that industrial players tend to be the most active in enforcing their rights in the form of litigations,” Kim Won-il, senior attorney at local law firm Y
Feb. 4, 2018
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LG’s cordless vacuum beats Dyson on price comparison site
LG Electronics’ cordless vacuum cleaner saw boosted sales on an online price comparison website last month, beating its UK rival home appliance maker Dyson. LG Electronics’ Cordzero A9 (LG)According to local e-commerce platform Enuri.com, LG Electronics’ cordless vacuum cleaners accounted for 45 percent of sales in the sector in January, about 18 percentage points above Dyson’s 27 percent. Until the second quarter of 2017, Dyson topped the list on the price comparison website, accounting for 40
Feb. 4, 2018
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GS Group chairman stresses innovation, competitive power for 2018
GS Group Chairman Heo Chang-soo encouraged its new executive members to become innovative leaders with competitive power for the new business year.During a seven-day program held for new members of the board at Elysian Resort on Jeju Island, Heo participated in a dinner to encourage and communicate with the new executives. GS Group Chairman Heo Chang-soo (GS Group)“As fluctuation issues are expected to persist this year with international oil prices, interest rates and exchange rates, protection
Feb. 4, 2018
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Discount store chain E-Mart top recruiter for past 5 years: think tank
E-Mart, South Korea's biggest discount store chain operator, topped other businesses by recruiting the largest number of new employees over the past five years, a local think tank said Sunday. In a survey carried out on the country's top 30 conglomerates' affiliates which employ more than 300 people, E-Mart ranked first by hiring 15,307 employees from 2011-2016, followed by Hyundai Motor Co.'s 9,906 and Starbucks Coffee Korea Co.'s 6,958, the Korea Economic Research Institute said in a statement
Feb. 4, 2018
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SK Group's exports exceed domestic sales in 2017
SK Group said Sunday the proportion of exports in its total sales reached a record high last year, on the back of the brisk performance of its energy and chip businesses. South Korea's third-largest business group booked combined sales of 139 trillion won ($127.9 billion) in 2017. Overseas sales reached 75.4 trillion won, accounting for 54.2 percent of the total. The conglomerate's contribution to the nation's exports also increased to a record high 13 percent, it said. (Yonhap)Energy and chemic
Feb. 4, 2018
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Samsung heir faces verdict over bribery in appeals trial
An appellate court is set to hand down its verdict Monday on Samsung Electronics Vice Chairman Lee Jae-yong, who was found guilty by a lower court of offering kickbacks to former President Park Geun-hye, and her friend, in a scandal that led to Park's ouster last year. The scion of South Korea's biggest conglomerate was sentenced to five years in prison on Aug. 25 for giving 8.8 billion won ($8.2 million) to Park and her confidante, Choi Soon-sil, in return for government backing for the merger
Feb. 4, 2018
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[Herald Interview] Restaurants that sell a story
It’s hard to settle on a restaurant in the bustling Seoul neighborhood of Itaewon, where the dining scene seems to change by the month. The constantly shifting topography of eateries is currently all about mixing and matching different cuisines or being authentically foreign, with eating out becoming more of an exuberant repast rather than a simple meal.In a back alley in Itaewon is Yoo Ji-young’s Korean barbecue restaurant Tongue & Groove Joint. But don’t expect to walk into a typical Korean ba
Feb. 2, 2018
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Prosecutors ask for arrest warrant for Booyoung chairman
Prosecutors on Friday filed for an arrest warrant for the head of a major construction and real estate business group on charges of tax evasion, embezzlement and breach of trust.The Seoul Central District Prosecutors' Office requested the arrest warrant against Booyoung Group Chairman Lee Joong-keun. Lee Joong-keunThe prosecutors are looking into allegations that Lee is involved in a series of crimes, from tax-dodging to managing a slush fund.The National Tax Service filed a complaint with the
Feb. 2, 2018
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[Newsmaker] Samsung's brand value moves up to 4th place in world amid robust earnings
The brand value of Samsung Electronics Co. rose two notches from a year earlier to rank fourth in an annual report on the world's most valuable brands, a British corporate valuation and strategy consultancy said Friday.The Korean tech giant's brand value jumped 39 percent to $92.3 billion in 2018 from a year earlier and remains Asia's most valuable brand, Brand Finance said. "As the company strives to be at the forefront of technology, and its brand philosophy 'Do What You Can't' continues to re
Feb. 2, 2018
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SK Holdings fined 2.9 billion won by FTC
SK Holdings was fined around 2.9 billion won ($2.7 million) for violating the law that separates financial companies from nonfinancial ones, the Fair Trade Commission said on Thursday. Under the current law, a holding firm cannot hold shares of financial companies, such as insurance or securities firms, in order to separate industrial and financial capitals. In August of 2015 when SK Holdings had acquired SK C&C, it had also incorporated SK Securities partially owned by SK C&C. But, SK Holdings
Feb. 1, 2018
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KT&G sees record high of W1.48tr in overseas sales
South Korean tobacco maker KT&G said Thursday that it saw a record high of 1.48 trillion won ($1.3 billion) of overseas sales last year. KT>he company said it broke its previous record of 941.4 billion won of overseas sales in 2016, measured by sales from exports and overseas corporation. This translates to a record high of 55.4 billion cigarettes sold overseas, an about 13.8 percent increase from 48.7 billion cigarettes in 2016. KT&G first tapped the overseas market in 1988. It took about th
Feb. 1, 2018