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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[Photo News] A week before Incheon's 2nd terminal opens doors
Leaving a week until it opens services, the second terminal of the Incheon Airport was abuzz with preparatory activity Thursday. The airport staff inspected automated immigration services and the face recognition systems at the duty-free shops. Workers were seen gearing up for the launch of airport stores and desks. In order to help the first time visitors find their way without confusion, the roads leading to the second terminal have been marked in pink.Photos by Park Hyun-koo (phko@heraldcorp.
Jan. 11, 2018
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China approves Daewoong’s clinical trial plans for botulinum toxin Nabota
South Korea’s Daewoong Pharmaceuticals said Thursday that its clinical trial plans for Nabota, the drugmaker’s botulinum toxin Type A, has been approved by China’s drug regulator, paving the way for the drug’s future launch in China.Daewoong said that its clinical trial application for Nabota has been approved by the China Food and Drug Administration. As a result, it will begin phase 3 trials for the drug this year, with aims to commercialize it in China by 2020.Daewoong Pharmaceutical’s China
Jan. 11, 2018
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SK Innovation invites 150 undergrads to select PR agency
SK Innovation, South Korea’s top refiner, invited 150 university students to be judges in the selection of a public relations agency that will be in charge of the company’s PR campaign for 2018, it said.This is the second year SK Innovation has invited students to be judges to evaluate presentations by PR agencies competing to be chosen.“We believe this unprecedented decision-making process creates social value. Students can get firsthand experience of advertisement production,” SK Innovation sa
Jan. 10, 2018
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LG Hausys makes waves in North American market
LG Hausys, a South Korean construction material supplier, has been striving to penetrate the North American market through active marketing and localization, with the aim of becoming the top acrylic scagliola maker in the United States. Attendees of the Kitchen & Bath Industry Show in Orlando look at LG Hausys’ acrylic scagliola and engineered stone products. LG HausysAs part of its efforts, the company participated in one of the largest local exhibitions, The Kitchen & Bath Industry Show, which
Jan. 10, 2018
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S-Oil to focus on RUC, ODC project
S-Oil CEO Othman al-Ghamdi shared the company’s goal for this year to make all out efforts to start operation of complexes under construction in its Onsan factory earlier this week.“Please continue to put in best efforts to successfully complete construction and begin operation of the project in the set timeline and budget,” al-Ghamdi said during the New Year Kickoff Meeting.The oil refiner invested 4.8 trillion won ($4.4 billion) in the mega project to install Residue Upgrading Complex and Olef
Jan. 10, 2018
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Posco, UNESCO to support out-of-school children in Thailand
Posco, South Korea’s top steelmaker by sales, has been selected as the first company to work with UNESCO to provide an education program for out-of-school children in ASEAN countries, the company said Wednesday.The Posco 1% Sharing Foundation -- to which the firm’s employees donate 1 percent of their wages -- will carry out the project for three years until 2020, starting in Thailand this year.Thailand was picked as the first destination, as it has the highest proportion of children out of schoo
Jan. 10, 2018
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Starbucks Korea to release ‘2018 lucky bags’
Starbucks Korea’s “2018 lucky bags” are set to go on sale Thursday, offering a random selection of goodies and special edition items. Starbucks Korea’s 2018 lucky bags. Starbucks KoreaThis year, the coffee chain will release 14,000 bags containing six items, such as tumblers, water bottles, mugs, muddlers, coasters and three free beverage coupons, at 1,000 stores nationwide. There will also be two new special edition items: a color-changing tumbler and Yunnori, a Korean traditional board game.
Jan. 10, 2018
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First consumer lawsuit against Apple in Korea to be filed Thursday
A local consumer group said Wednesday that it plans to file a suit against Apple and Apple Korea on Thursday for compensation regarding a software update slowing down older iPhones to fix problems with their batteries.Citizens United for Consumer Sovereignty claims that Apple violated consumer laws because the company did not disclose to consumers that an operating software update would potentially slow down their phones, taking away “an opportunity for consumers to choose.”CUCS is seeking appro
Jan. 10, 2018
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Hyundai Heavy union votes against tentative wage deal
(Yonhap)Thousands of union members of Hyundai Heavy Industries Co., South Korea's leading shipbuilder, have voted down a tentative wage deal, the union said Tuesday, a move that could lead to the resumption of drawn-out wage negotiations.The union said 56.1 percent of 8,804 union members who cast ballots voted against the agreement signed by the company and the union in December. More than 1,000 union members did not participate in the vote held earlier in the day at the shipyard in Ulsan, an in
Jan. 9, 2018
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[Management in Korea] Chaebol boards are broken: It's time to fix them
Management in Korea is a regular column written by the members of Egon Zehnder Seoul touching on various aspects of Korean enterprises and business leaders and offering management tips. -- Ed.For decades, corporate boards around the world could best be described as “seen but not heard.” While directors were supposed to oversee the CEO and the management team on behalf of shareholders, since the CEO effectively hand-picked them, most boards were little more than a rubber stamp. This arrangement w
Jan. 9, 2018
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Oral cholera vaccine in lighter plastic packaging hits market
The International Vaccine Institute said Tuesday that the world’s first oral cholera vaccine packaged in plastic tube vials is now available for purchase by international procurement agencies and United Nations agencies.The oral cholera vaccine, named Euvichol-Plus, was developed by South Korean drugmaker EuBiologics based on a technology transfer from the IVI. The vaccine has officially arrived in the market after the first shipment of 2.45 million dosages were delivered to Zambia and Somlia on
Jan. 9, 2018
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KT, Lotte Department Store, Samsung C&T top sectors for NCSI 2017
Customer satisfaction for firms and universities in South Korea improved overall in 2017 compared to the previous year, a recent survey by the Korea Productivity Center showed.KT, Lotte Department Store, Samsung C&T and Chungbuk National University topped the list for their respective industries. The National Customer Satisfaction Index in the fourth quarter of 2017 came to 75.6 points, up 0.9 point from that of the previous year, according to the KPC’s survey on 86,494 respondents with experien
Jan. 9, 2018
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[CES 2018] Samsung defends Bixby’s lukewarm response
LAS VEGAS -- Samsung’s top management on Monday defended reports on low performance and low global market share of its ambitious artificial intelligence technology Bixby during a press briefing held in Las Vegas, a day before the Consumer Electronics Show kicks off. During the conference, Samsung outlined its vision and strategy for intelligent Internet of Things experiences with the demonstration of its ability to make connected consumer experiences across Samsung devices at home, at the office
Jan. 9, 2018
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KT&G to increase price of Fiit e-cigarettes
Korea’s largest tobacco maker KT&G said it will increase the price of Fiit, a tobacco product exclusively designed for its heat-not-burn device Lil, from next week. KT&GFiit, a tobacco-filled stick that works with Lil, was released at 4,300 won ($4) in November. The company said the price of Fiit will go up to 4,500 won, reflecting a recent increase in the individual consumption tax imposed on HNB products and other levies such as a health promotion fee. The company has worked to minimize the p
Jan. 9, 2018
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Samsung to break record with W50tr in operating profit
South Korean tech giant Samsung Electronics is on path to become a company worth 50 trillion won ($46.9 billion), as its annual operating profit for 2017 is forecast to hit 53.6 trillion won, according to an earnings guidance released by the company Tuesday. It is the first time for Samsung to obtain over 50 trillion won in operating profit for the whole year since its foundation in 1969, pushed up by an unprecedented global boom in the chips industry. The company’s preliminary earnings showed t
Jan. 9, 2018
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LG Household & Healthcare’s Whoo exceeds W1.4tr in sales
LG Household & Health Care’s royal-themed cosmetics brand Whoo achieved sales of 1.42 trillion won ($1.3 billion) last year, following its continued popularity in China and Southeast Asia. Chinese consumers shop for LG Household & Health Care’s Whoo products at a department store in Shanghai, China. LG Household & HealthcareSince its launch in 2003, Whoo has seen 40 percent growth each year, according to the company. It posted 100 billion won in sales in 2009. Riding a wave of rapid growth, its
Jan. 8, 2018
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‘Generation Z’ holds key to future of retail: report
With the ascension of a tech-savvy and mobile-first generation of consumers, or “Generation Z,” retailers and brands need to prepare ways to reach and appeal to them, a recent report showed. According to the report released by Hyundai Research Institute, Generation Z, referring to those born between 1996 and 2010 and the first consumers to have grown up in the digital era, will be the most pivotal generation to the future of retail, with their lifestyles centered around the smartphone.The report
Jan. 8, 2018
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LG Electronics turns operating profit in Q4
LG Electronics Inc. said Monday its earnings are estimated to have turned to the black in the fourth quarter of 2017 fueled by robust sales of home appliances and premium TVs. The company's operating profit is estimated at 366.8 billion won ($343 million) for the October-December period. This comes after the consumer electronics company recorded an operating loss of 35.2 billion won over the same period a year earlier, LG Electronics said in a regulatory filing.Sales are estimated to have increa
Jan. 8, 2018
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Korean pharma firms eye opportunities at JP Morgan Healthcare Conference
In search of new partnerships and foreign investments, South Korean pharmaceutical companies have headed to the JP Morgan Healthcare Conference to promote their drug pipelines and business portfolios to global investors.The annual four-day event, which kicks off Monday in San Francisco, California, is the world’s largest and oldest annual health care symposium, which brings together the world’s top pharmaceutical firms and investors to seek out new drug candidates and technologies.The JP Morgan
Jan. 8, 2018
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Posco chief joins CES 2018
Joining the wave of technological innovations sweeping across the traditional manufacturing industry, the chairman of South Korea’s largest steelmaker also departed to join the Consumer Electronics Show in Las Vegas on Monday, the firm has said.“Posco Chairman Kwon Oh-joon, who unveiled the plans last year to incorporate technology across sectors the company manages, will examine the latest technological trends,” the company said.He is also scheduled to meet with companies in the smart industry
Jan. 8, 2018