Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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Seoul alerts overseas missions to NK terror threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Samsung BioLogics says 4th plant production plans ‘still under review’
Samsung BioLogics said Monday that its plans to build a fourth biologics production plant are “still under review,” and that its main focus at present is securing sufficient orders for its third plant, which is slated to begin commercial production in 2020. The company has yet to set a concrete timetable for its plant expansion and will have to review market conditions before confirming the construction of a new plant, the company said.The statements followed remarks made by Samsung BioLogics CE
Jan. 15, 2018
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Posco’s Indonesia steel mill sees first surplus in four years
Posco’s steel mill in Indonesia, Krakatau Posco, posted its first surplus last year, selling an accumulated 10 million metric tons, the company said Monday. Krakatau Posco opened in 2014 is Southeast Asia’s first-ever integrated steel mill, with production capacity of 3 million tons.Posco and Indonesia’s state-run Krakatau Steel had invested 70 percent and 30 percent, respectively, in the steel mill. Front view of Krakatau Posco (Posco)Posco sold some 1.7 million tons of steel made at Krakatau P
Jan. 15, 2018
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[Photo News] Expanding Korea-India pharmaceutical business ties
KOREA-INDIA PHARMA PARTNERSHIP -- Indian Chamber of Commerce in Korea Chairman Vasudev Tumbe (left) and Korea Pharmaceutical and Bio-Pharma Manufacturers Association Vice President Lee Seoung-Kyou (center) pose after signing a Memorandum of Understanding. Under the MOU, the two entities plan to facilitate knowledge exchange, conduct market research, plan related policies, co-host workshops and exhibitions and create business and investment opportunities, the KPBMA said. (KPBMA)
Jan. 15, 2018
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Korea to launch shopping fest for foreigners this week
South Korea will begin a nationwide shopping festival for foreign tourists this week as part of its efforts to boost interest in next month's Winter Olympics, which will be held in the country's alpine resort town of PyeongChang, organizers said Monday.The Korea Grand Sale 2018 will kick off Thursday for a 42-day run throughout the country, providing foreigners with discounts on a variety of options, ranging from flight tickets to accommodations, tourist sites and restaurants, the Visit Korea Co
Jan. 15, 2018
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WTO's ruling on US anti-dumping duties on Korean steel pipes finalized
The World Trade Organization's ruling against the United States over the country slapping anti-dumping duties on steel pipes has been confirmed, Seoul's trade ministry said Monday.In July 2014, the US Commerce Department levied 9.9 percent to 15.8 percent anti-dumping duties on oil country tubular goods imports from South Korean steelmakers, such as Hyundai Steel, Nexteel, Seah Steel Corp. and Husteel.OCTG is one of the fastest growing sectors in the pipelines market, and South Korean producers
Jan. 15, 2018
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[Newsmaker] Samsung starts producing washing machines in US
Samsung Electronics announced Sunday it has kicked off commercial production of its first US-based home appliance manufacturing facility in Newberry County, South Carolina, a move that hopes to reduce the burden of possible punitive tariffs by the US trade authority. The company held a ceremony in Newberry to celebrate the official launch of the first US factory Friday. The event was attended by Samsung’s consumer electronics division President Kim Hyun-suk, South Carolina Gov. Henry McMaster an
Jan. 14, 2018
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Posco Daewoo to expand SMEs project with Incheon
Posco Daewoo, a trading firm dealing with a range of products including steel, automotive components and machinery, has signed a memorandum of understanding with Incheon Metropolitan City and the city’s commerce body to expand distribution platforms for small and mid-sized exporters, the firm said Sunday.By opening the second showroom for Korean products in Chengdu, China, Posco Daewoo will present, promote and support exports of products manufactured by SMEs based in Incheon, the company said.
Jan. 14, 2018
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US beef imports surpass $1b mark last year: data
South Korea's US beef imports surpassed the $1 billion mark for the first time ever in 2017, official government data showed Sunday, fueled by rising consumer demand.According to the Korea Customs Service, beef imports hit an annual record of $1.09 billion in the January-November period. This already surpassed the $966.9 million worth of US beef imported for the whole of 2016, and is the highest tallied since 2000 when the country started to keep records of imported beef.Last year's figure did n
Jan. 14, 2018
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China's social commerce startup reaches out for S. Korea
When Miranda Qu established Xiaohongshu five years ago, she did not imagine the online community for shopping tips would turn into an e-commerce platform with more than 75 million registered users."E-commerce business was not part of our original plan, but it did not take much time for us to realize that our users wanted to make purchases on our site after checking out shopping information," Qu said during an interview with Yonhap News Agency on Thursday.Xiaohongshu users share their shopping ex
Jan. 14, 2018
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S. Korea's cigarette exports hit record high in 2017
South Korea's cigarette exports rose to a record high last year on the back of growing demand from Southeast Asian countries, the latest customs data showed Saturday. YonhapThe total value of tobacco exports reached a record US$1.13 billion in 2017, up 9.7 percent from the previous year's $1.01 billion, according to the data compiled by the Korea Customs Service.The figure has been on a steady rise, renewing records for four straight years since 2014. The tally surpassed the $1 billion mark for
Jan. 13, 2018
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Samsung's washing machines win at Best of KBIS 2018
Samsung Electronics’ washing machines took home honors at the Best of Kitchen and Bath Industry Show 2018 awards for their smart technology and customizable operations, the company said Friday.Samsung’s front load washer with QuickDrive took home the new Smart Home Technology award for its artificial intelligence-based Q-rator function. Samsung's Front Load Washer with QuickDrive (left), FlexWash+FlexDry (Samsung)The Q-rator assistant function includes the Laundry Planner, which recommends a was
Jan. 12, 2018
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Incheon Airport's second terminal celebrates grand opening
Korea’s main gateway airport held a grand opening ceremony Friday for its second passenger terminal, set to open to the public on Thursday, three weeks ahead of the PyeongChang Winter Olympics.President Moon Jae-in gives a congratulatory address at the grand opening ceremony of Incheon Airport’s second terminal Friday. (Yonhap)President Moon Jae-in and Transport Minister Kim Hyun-mee, along with Incheon Airport‘s honorary spokesmodels, figure skater Kim Yu-na and actor Song Joong-ki, attended th
Jan. 12, 2018
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Celltrion to build first overseas plant, triple production capacity plan
South Korean biopharma company Celltrion will begin preparations to build its first overseas production plant this year and confirm a site for the biologics facility before June, its Chairman Seo Jeong-jin announced Thursday. Celltrion will also expand the production capacity of its upcoming overseas plant -- its third facility -- to 360,000 liters, which is triple the capacity that the drugmaker had initially planned for the new plant. The upcoming facility, which Celltrion plans to start build
Jan. 12, 2018
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Dong-A ST to develop anti-cancer drug candidates with AstraZeneca
South Korean pharmaceutical company Dong-A ST said Friday that it has entered into a joint research agreement with AstraZeneca to develop new innovative immuno-oncology drug candidates. Under the agreement -- which was signed during the JP Morgan Healthcare Conference in San Francisco on Thursday -- the two drugmkers will collaborate on three oncology research projects under the lead of AstraZeneca. Details of the projects were not revealed, due to contract stipulations.Dong-A ST Vice President
Jan. 12, 2018
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[Weekender] Korean bakery chains go upmarket
Buoyed by vast popularity at home, major Korean bakery chains are wooing consumers overseas with premium offerings, hoping to capture a share in emerging markets for high-quality bakeries.Paris Baguette, a leading bakery chain here operated by food group SPC, and Tous Les Jours, operated by CJ Foodville, have been operating branches overseas focusing on the Chinese and American markets since 2004. Paris Baguette currently operates 311 overseas stores, with 231 in China, and Tous Les Jours has 38
Jan. 12, 2018
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[Weekender] Walking down bread’s memory lane
Bread was first introduced to Koreans in the 19th century, when Catholic missionaries from Europe brought bread with them. But it was during Japan’s 35-year colonization that bread started to find its way onto the tables of ordinary citizens in Korea, eaten as a refreshment between meals. It is for this reason that Koreans call bread “ppang,” a word originating from the Japanese pronunciation of “Pao-de-lo,” which means bread in Portuguese. After gaining more popularity in the 1990s, as Korea op
Jan. 12, 2018
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[Weekender] Bread over rice
For an increasing number of Koreans, rice and noodles are no longer the foundation of their meals. A growing appetite for sandwiches and baked goods like cakes, pastries and doughnuts have made bakeries ubiquitous across Korea.Wheat consumption has continued to grow in a country where traditionally a meal without rice was no meal at all. According to the Ministry of Agriculture, Food and Rural Affairs, the average South Korean ate 33.2 kilograms of wheat flour in 2016.(123RF)Meanwhile, rice cons
Jan. 12, 2018
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[Weekender] Grab-n-go snacks lure commuters at Korea’s subway stations
Every morning, the smell of freshly baked pastries fills the air of the underground corridors connecting Line 2 and Line 4 of Sadang Station in Seoul. The pleasant smell is enough to make even the busiest Seoulite stop for a moment for a quick bite to-go.Such is the case for 30-year-old Lee Hye-in, who was waiting in line to make a purchase at the bakery inside Sadang Station on Wednesday. Various breads are on display at a bakery inside Sadang Station (Park Hyun-koo/The Korea Herald)“I stop by
Jan. 12, 2018
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Samsung faces French legal case over alleged abuses in China
A Samsung branch in Paris (Android Central)Two French campaign groups filed a legal case against Samsung in France on Thursday over the alleged use of child labour and other abuses in Chinese manufacturing plants working for the electronics giant.Accusing the company of misleading commercial practices, the NGOs Peuples Solidaires and Sherpa lodged a complaint in Paris against Samsung‘s French subsidiary and international parent company.Based on research from the China Labor Watch group, the Fren
Jan. 11, 2018
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US ordered to recalculate antidumping margin of Hyundai steel products
Commerce Department to recalculate the antidumping margin of Hyundai Steel Co. products in a partial victory for South Korea‘s second-biggest steelmaker.Jane A. Restani, a judge of the U.S. Court of International Trade, said in a slip opinion on Wednesday (local time) that the Commerce Department’s final results in its antidumping duty investigation of South Korean corrosion-resistant steel products should be remanded.In 2015, the Commerce Department launched an investigation over the possible s
Jan. 11, 2018