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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‘Patent troll’ files 14 suits against S. Korean firms in 2017
A nonpracticing entity filed a series of patent infringement lawsuits last year against South Korea’s information technology giants, including Samsung Electronics and LG Electronics, in an apparent move to ride their recently improved sales in the US market, a local intellectual property service provider said Monday.Most recently, Uniloc filed a suit to the federal court of Texas in October last year, claiming LG Electronics infringed upon one of its patents through products equipped with smart
Jan. 29, 2018
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Tax authority to toughen regulations on offshore tax evasion
The National Tax Service’s task force on Monday released a final report of recommendations on reforming the national tax system that include tougher regulations against offshore tax evasion and closely looking into the creation of borrowed-name accounts or corporate foundations to curb the abuse of power by chaebol. “Despite continued investigations on offshore tax evasion, the practice has not been rooted out and it is becoming more intelligent under the surface,” said the task force in the rep
Jan. 29, 2018
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Booyoung chief accused of typical case of corporate monopoly
Lee Joong-keun, the 77-year-old chairman of housing business giant Booyoung Group, is suspected of pulling a classic example of power monopoly and corruption in conglomerate circles, making for a priority target for the Fair Trade Commission led by “chaebol sniper” Kim Sang-jo.Prosecutors on Monday carried out a search warrant on Booyoung’s key affiliates as part of its ongoing investigation into allegations the elder corporate chief dodged taxes and embezzled funds totaling at billions of won.L
Jan. 29, 2018
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McDonald’s Korea launches PyeongChang Korean Beef Signature Burger
McDonald’s Korea said Monday that it will launch PyeongChang Korean Beef Signature Burger on Tuesday, offering 10,000 burgers just for one day. McDonald’s KoreaBy using PyeongChang’s specialty Korean beef that goes well with white Cheddar cheese, the burger set will include golden fried potatoes. McDonald’s Korea said those who purchase the burger can enter into a draw to win two tickets to the Speed Skating final event. A lucky 150 people will be selected.By Kim Da-sol (ddd@heraldcorp.com)
Jan. 29, 2018
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WeMakePrice considers accepting virtual currencies
South Korean e-commerce company WeMakePrice said Monday that it is working to accept cryptocurrencies like bitcoin as one of its payment options, marking the first attempt by a major online shopping platform amid the ongoing cryptocurrency frenzy here. WeMakePriceWeMakePrice said talks are underway with Bithumb, the country’s largest cryptocurrency exchange, to develop a system that can apply some 12 kinds of virtual currencies, such as bitcoin and ethereum, to WeMakePrice’s online payment servi
Jan. 29, 2018
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Largest indoor animation theme park to open in Yongsan
Hyundai Development Company’s Hyundai IPark Mall said Monday that it will open South Korea’s biggest indoor theme park at its Yongsan location on Feb. 10.Yongsan IPark Mall’s Popcon D Square (HDC IPark Mall)Together with Daewon Media -- the company behind Korean animation “Young Shim” and which holds licenses for works of Japan’s Studio Ghibli and Japanese manga series “Doraemon” and “One Piece” -- IPark Mall aims to build a place where an animation kingdom becomes reality.The animation theme pa
Jan. 29, 2018
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Hyosung chief Cho Hyun-joon vows tech prowess, responsible management for 2018
In his New Year’s speech, Hyosung Chairman and CEO Cho Hyun-joon urged the employees to focus on clients and the market, secure world-class technical competitiveness, and practice responsible management, the company said Monday.During a meeting with the employees to mark the New Year, Cho said, “The number of competitors is rapidly surging and the most important action for survival is thus to reflect the voices of clients and markets in products.”Explaining that this means refraining from self-f
Jan. 29, 2018
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Overall agricultural imports from China shrink after FTA deal
South Korea imported fewer agricultural products overall from China last year, but shipments in fruits, vegetables and meats increased, data from the Korea Rural Economic Institute showed Monday.According to KREI's analysis of figures from the Korea Trade Statistics Promotion Institute, South Korea imported $3.62 million worth of agricultural, forestry and livestock products from China in the January-October period last year, 1.8 percent less than the average prior to the two countries' free tra
Jan. 29, 2018
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[Photo News] Another five-year partnership
From left: Australian Open Tournament Director Craig Tiley, Kia Motors Executive Vice President Park Byung-yun, former Australian tennis player Rod Laver and Tennis Australia President Jayne Hrdlicka pose for a photo after signing a five-year partnership extension between the South Korean carmaker and the Australian Open, in Melbourne on Saturday. Kia Motors
Jan. 28, 2018
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Hanwha Chairman Kim, Feulner discuss Korea-US ties, PyeongChang Olympics
Hanwha Group Chairman Kim Seung-youn and former Heritage Foundation chief Edwin J. Feulner Jr. met to discuss changes in Korea-US relations, marking one year into Donald Trump’s presidency, the group said Saturday. Kim told Feulner that South Koreans have high hopes for the Winter Olympics in PyeongChang and its expected role in creating a platform for reconciliation between South and North Korea. Hanwha Group has also been active in supporting the sporting event, he added. Feulner agreed wit
Jan. 28, 2018
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Founder of 73-year-old home-grown pharmaceutical firm passes away
The founder of a 73-year-old South Korean pharmaceutical company passed away at age 97 over the weekend, Il-Yang Pharmaceutical Co. said Sunday.Chung Hyung-sik, who died Saturday, set up the company in 1946, before the three-year Korean War broke out in 1950, and helped the local industry grow to a point where it can now develop its own drugs, the company said.The company currently produces a wide range of drugs ranging from anti-cancer treatment medicines to vaccines. (Yonhap) Chung Hyung-sik (
Jan. 28, 2018
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[Newsmaker] Korea seeks alliance with WTO members against US washer safeguard
The Korean government is seeking an alliance with members of the World Trade Organization to respond to the US’ protectionist actions and is looking for ways to jointly take action on trade restrictions such as anti-dumping or safeguard measures. During a trade ministerial meeting at the World Economic Forum that ended Friday in Davos, Trade Minister Kim Hyun-chong said, “Import restriction measures such as anti-dumping and safeguards are used as means of realizing disguised protectionism. If th
Jan. 28, 2018
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HiteJinro’s holiday gift packages feature Gerard Bertrand wines
With the Lunar New Year holiday in a few weeks, Korean distiller HiteJinro has unveiled 59 packages featuring luxury wines as holiday gifts. Among the packages is a limited edition one featuring Gerard Bertrand wines, awarded red wine maker of the year by French magazine La Revue du Vin de France in 2015 and European winery of the year at the Wine Star awards in 2011. It is exclusively available before and during the Lunar New Year holiday, which falls in the third week of February. Other wine s
Jan. 28, 2018
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S. Korean firms need to shift strategy in China: report
South Korean companies need to shift their strategies in China as Beijing strives to boost domestic spending by attracting foreign investment and offering higher wages, a local think tank said Sunday.China has long been a manufacturing base for multinational companies due to low labor costs and growing domestic consumption of their products. Recently, the central government has pushed for plans to drive up consumption by luring foreign capital into major industries and raising workers' wages, Hy
Jan. 28, 2018
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Samsung retains No. 1 market share in US home appliance market in 2017
Samsung Electronics Co. retained its No. 1 market share of the large US home appliance market for the second year in a row in 2017 thanks to strong sales of its refrigerators, washers and cooktops, industry data showed Sunday.According to US market researcher TraQline, Samsung market share in key household products stood at 19.5 percent of all consumer appliances sold in the North American country. The numbers represent an almost two fold spike from the 11.5 percent tallied in 2014. (Yonhap)For
Jan. 28, 2018
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US import restrictions targeting China hurting S. Korean companies: KITA
US import restrictions targeting Chinese goods are hurting South Korean companies in the key North American market, an international traders organization in Seoul said Sunday.The latest report by the Korea International Trade Association outlining important trade issues with the United States in 2018 said South Korea, which has a similar industrial structure to China, the world's No. 2 economy, is being subject to the same type of import restrictions as those being slapped on Chinese goods."Unde
Jan. 28, 2018
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Hyundai Heavy wins $500 mln LNG facility order in Canada
Hyundai Heavy Industries Co., the world's biggest shipbuilder by sales, said Sunday it has received a $500 million order to build a natural gas liquefaction facility in Canada.Hyundai Heavy will conduct a front-end engineering design for the hull of the At-Shore LNG and build the LNG liquefaction facility for Steelhead LNG Corp., the company said in a statement. The ASLNG facility, scheduled to begin operations in 2024 on the coast of Vancouver, will transform natural gas sent through undergroun
Jan. 28, 2018
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Domestic consumption business lagging despite improved economic growth
Businesses linked to local consumption logged 0.7 percent growth last year, a weak number compared to the 3.1 percent economic expansion posted for the country as a whole, the Bank of Korea (BOK) said Sunday.Retail and wholesale, restaurants and accommodation businesses are the key barometers of the health of domestic consumption. Data from the central bank showed that the gross domestic product for these sectors grew at its slowest since 2009 when it recorded growth of minus 0.3 percent while t
Jan. 28, 2018
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Employees have mixed feelings about Shinsegae's 35-hour workweek
Employees at Shinsegae Group have mixed feelings about the retail giant's 35-hour workweek, which began this year, citing positive improvements in work-life balance but heightened labor intensity.The South Korean retailer, which operates Shinsegae department store and E-Mart hypermarket chains, adopted the shortened workweek Jan. 1 to help its workers utilize their time to work more effectively. The company claimed reduced working hours allow people to spend more time with their families and eng
Jan. 28, 2018
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SK Biotek begins foray into Europe with Irish plant
SK Biotek, the first Korean pharma company to invest in Ireland, began operation of its plant under its new name in Swords, Ireland, on Thursday, opening the way for the Korean conglomerate’s foray into Europe’s pharmaceuticals industry.The opening event was attended by SK Biotek CEO Park Jun-ku, Minister of State at the Department of Finance of Ireland Michael D’Arcy and Korean Ambassador to Ireland Hu Kang-il.SK Biotek CEO Park Jun-ku (third from left) and participants attend an event to celeb
Jan. 26, 2018