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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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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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Hopes rise for possible Gaza truce deal
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Ex-pro baseball player who killed debtor appeals sentence
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S. Korea to issue travel ban on Haiti amid intensifying gang violence
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Seventeen shows who is the ‘Maestro’ of K-pop in greatest hits album
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[Monitor] Exports of Korean ramen surpass $300 million
Exports of South Korean-made instant noodles, or ramen, have surpassed $300 million for the first time, mainly driven by their popularity in China, the United States and Southeast Asian nations, data from the Korea Customs Service showed.Some $380 million worth of ramen were exported last year, up 31.2 percent from 2016. Meanwhile, Korea imported $3.86 million worth of instant noodles. (YouTube)(khnews@herarldcorp.com)
Jan. 24, 2018
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SK chief meets business leaders at Davos
SK Group Chairman Chey Tae-won is meeting with business leaders and government representatives around the world at the annual economic forum in Davos, Switzerland, the group said Wednesday.The chairman is set for a series of meetings with government officials from China, Vietnam and Saudi Arabia to strengthen cooperation over the group’s petrochemical business and business leaders in the energy, chemicals and information and communications technology sectors.On the first day of the forum that ki
Jan. 24, 2018
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Posco posts biggest operating profit in 6 years
Annual sales by South Korean steel giant Posco have hit the 60 trillion won ($56.4 billion) mark for the first time in three years, with 4.62 trillion won in operating profit, the biggest gain in the last six years, the company said Wednesday.With numbers improving in both the steel and nonsteel sectors, the company saw the biggest operating profit since 2011, the company said. Increased sales of premium steel products as well as improved profits from the steelmaker’s overseas unit contributed t
Jan. 24, 2018
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[PyeongChang 2018] Meningococcal vaccines recommended for Olympics attendees
From athletes and support staff to reporters and spectators, millions of people from around the world are set to gather at the 2018 Winter Olympics, which will kick off in South Korea’s eastern county of PyeongChang on Feb. 9.At large-scale events like the Olympic Games, the risks of an infectious disease outbreak are expected to be higher. Though germs will always be in the air, event participants are advised to protect themselves against a particularly deadly infection called meningococcal dis
Jan. 24, 2018
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Cigarette sales down 3.8% in 2017 on campaign, higher prices
Sales of cigarettes in South Korea dipped almost 4 percent in 2017 from a year earlier, due to the government-led anti-smoking campaign, and higher prices, data showed Wednesday.South Korean smokers purchased 3.45 billion 20-cigarette packs last year, compared with the previous year's 3.66 billion packs, according to data compiled by the finance ministry.Starting in January 2015, South Korea increased the price of cigarettes by 80 percent, from 2,500 won ($2.25) per pack to 4,500 won, in an effo
Jan. 24, 2018
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Kakao taps marketing experts as new co-CEOs
Kakao, South Korea’s internet platform giant, has tapped its vice presidents with marketing backgrounds as new co-chief executive officers, the firm said Wednesday. Starting March, Yeo Min-soo, vice president of advertising, and Joh Su-yong, vice president of brand design, will take the helm of the operator of a flagship messenger app, a web portal, an online streaming service and a direct bank, among others. Yeo, 48, has played a vital role in establishing Kakao’s tailored advertising platform,
Jan. 24, 2018
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LG Hausys tops W3tr in yearly net revenue in 2017
LG Hausys, a maker of windows, curtain walls and other interior materials, hit a record high in net revenue in 2017, according to the firm Tuesday. The Kospi-listed firm’s net income in 2017 came to 3.26 trillion won ($3.04 billion), up 11.2 percent compared to the previous year. Its operating profit reached 133 billion won, down 15.3 percent on-year. (LG Hausys)This marked the first time that the material arm under the third-largest conglomerate in market cap topped 3 trillion won in net profit
Jan. 24, 2018
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Shinsegae to buy furniture company for $168 mln: sources
South Korean retail giant Shinsegae will purchase a local furniture company for 180 billion won ($167.8 million) Wednesday as it attempts to tap into the country's home furnishing industry, sources said.Shinsegae Department Store will sign a contract with Casamia Co.'s founder and other specially related persons to purchase a 92 percent stake in the company, according to sources.Launched in 1982 as a small interior shop in Seoul, Casamia now has multiple brands, ranging from those manufacturing
Jan. 24, 2018
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Crowdfunding in Korea in 2017 jumps about 60%
The amount of crowdfunding in South Korea soared about 60 percent last year, data showed Wednesday, signaling the platform grew as an effective financing option for startups.According to the data by the Financial Services Commission (FSC), 183 companies raised a combined 27.8 billion won ($25.9 million) last year, up 59.7 percent from a year earlier.The number of individual investors involved in crowdfunding last year represented a whopping 173.3 percent increase from a year earlier.South Korea
Jan. 24, 2018
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[Monitor] Medical costs show largest surge in 10 years
Medical treatments have become more expensive in Korea, with costs showing the largest surge in 10 years, according to data from Statistics Korea based on the consumer price index. The index showed that outpatient medical costs reached 104.94 last year, up 2.6 percent from 2016. This is the highest since Statistics Korea began categorizing outpatient medical costs in 2005, and the largest on-year increase rate since 2007.Medical examination costs reached 105.87, up 3 percent from the previous ye
Jan. 24, 2018
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LG CEOs to discuss future strategy
Chief executive officers of major businesses under LG Group, the nation’s fourth-largest conglomerate by assets, will gather for a two-day meeting Wednesday to discuss business strategies this year and produce synergy between affiliates.The meeting will be led by Koo Bon-joon, vice chairman of the group’s holding company LG Corp., with CEOs from the conglomerate’s major businesses spanning electronics to cosmetics attending, industry officials said Tuesday. LG headquarter in Seoul (The Korea He
Jan. 23, 2018
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LG Electronics 2017 net soars on home appliances
LG Electronics said Tuesday its net profit skyrocketed in 2017 from a year earlier on strong sales of home appliances. (LG Electronics)Net profit for the three months that ended Dec. 31 soared to 1.87 trillion won ($1.74 billion) from 126.31 billion won a year earlier, the company said in a statement. "Local and overseas demand for LG Electronics' home appliances such as televisions and refrigerators stayed strong throughout the year, giving a boost to the annual bottom line," a company spokesm
Jan. 23, 2018
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Hyosung chief indicted for embezzlement, breach of trust
Prosecutors on Tuesday indicted the chief of South Korean conglomerate Hyosung Group without detention on charges of embezzlement and breach of trust.Cho Hyun-joon, the chairman of the family-run chaebol, will stand trial for allegedly incurring 17.9 billion won ($16.6 million) in losses for one of his private companies through having the firm repurchase its own shares and capital reduction. Hyosung Group Chairman Cho Hyun-joon speaks to reporters after arriving at the Seoul Central District Pro
Jan. 23, 2018
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Duty-free sales to foreign travelers hit new high
Foreign travelers’ total purchases at South Korean duty-free stores hit a new record high last month, industry data showed Tuesday. YonhapAccording to the data tallied by the Korea Duty Free Shops Association, foreign visitors spent a total of $939 million at local duty-free stores in December, up 28 percent on-year. The figure is up 0.1 percent from the previous high of $983 million, set in November.However, the number of foreigners who visited the shops fell on-year by 11.3 percent to 1.42 mi
Jan. 23, 2018
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LG Display net plunges in Q4 on weak panel prices, strong won
LG Display Co., a flat panel maker, said Tuesday its net profit slipped 94.7 percent in the fourth quarter from a year earlier, largely due to weak panel prices and a strong local currency.The company said in a regulatory filing that its net profit came to 43.6 billion won ($40.7 million) in the October-December period, compared with 824.7 billion won a year earlier.Operating profit shrank 95.1 percent to 44.5 billion won from 904.3 billion won a year earlier, and sales declined 10.2 percent on-
Jan. 23, 2018
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Seoul confident in taking US washer safeguards issue to WTO
The Korean government said Tuesday it will lodge a complaint with the World Trade Organization about US President Donald Trump’s decision to slap tariffs on imported washing machines and solar panels produced by Korean manufacturers, expressing confidence the excessive sanctions will prove invalid.Immediately after Trump announced the move to slap steep tariffs on Korean goods overnight, the Korean government and related industrial officials held a meeting to discuss how to respond to the safegu
Jan. 23, 2018
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GS convenience store chain set to accept foreign cash payment
GS Retail said Tuesday that payment in foreign currencies will become available at its convenience store chain next month. Cash payment in US dollar, yen, euro and yuan will be available at GS25, one of the three major convenience store chains in Korea.Payment in foreign currencies will be made according to daily exchange rates provided by Shinhan Bank. Exchange commission will be priced and added to the payment by each branch. (GS Retail-Yonhap)The service will be test-operated at two GS25 stor
Jan. 23, 2018
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[Video] Buldak Spicy Ramen craze continues
Shot by Lim Jeong-yeo and Kim Da-sol / Edited by Lim Jeong-yeoWhen Samyang Foods released Buldak Spicy Chicken Ramen in 2012, the company did not expect it would receive such explosive popularity from customers abroad -- especially in the YouTube community.“In the beginning, we developed the product targeting local spicy food lovers in the niche market,” Park Jung-seok, Samyang Foods’ marketing manager, told The Korea Herald. Buldak refers to grilled chicken marinated in super-spicy red chili pa
Jan. 23, 2018
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Korea Ginseng Corp. opens lifestyle cafe Sapoon Sapoon
Korea Ginseng Corp. opened the health-and-lifestyle cafe Sapoon Sapoon at Incheon Airport’s new terminal last week. Sapoon Sapoon cafe at Terminal 2 of Incheon Airport (Korea Ginseng Corp.)The 66-square-meter cafe offers a range of premium coffee including its signature Ginseng-chino made of premium coffee beans and 6-year-old red ginseng roots. The store is located in the open space next to Gate 234 on the west side of the departure hall on the third floor, which is the Duty Free Shopping Zone
Jan. 23, 2018
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Korea to file WTO petition against US safeguard measures
South Korea's trade ministry said Tuesday it will file a petition with the World Trade Organization against the US government for imposing heavy anti-dumping duties on Korean washing machine and solar panel makers.The move comes after US President Donald Trump approved recommendations of the International Trade Commission to impose safeguard tariffs on imported large residential washing machines and imported solar cells and modules."The US decision to impose tariffs on South Korean washers and s
Jan. 23, 2018