Most Popular
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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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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Hopes rise for possible Gaza truce deal
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Ex-pro baseball player who killed debtor appeals sentence
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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S. Korea to issue travel ban on Haiti amid intensifying gang violence
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Leaders of S. Korea, Angola agree to boost economic, trade cooperation
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Hyundai Samho lands W400b pre-IPO investment
Midsized shipbuilder Hyundai Samho Heavy Industries, an affiliate of Hyundai Heavy Industries, announced Thursday that the company has attracted a 400 billion won ($355.4 million) pre-initial public offering investment from a local private equity firm, IMM Private Equity.The pre-IPO investment is 100 million won more than what was originally offered by the equity firm in April. The deal is expected to lower Hyundai Samho’s debt ratio from the current 96.4 percent to 72.8 percent, according to a
June 8, 2017
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[Herald Interview] Cook Jung uncovers roots of Korean cuisine
Spreading the value of one’s culture is often seen as a heroic mission, undertaken by experts backed by large organizations. However, Cook Jung Seo-young broke such paradigms during the first encounter at a cafe located in Samgakji, dressed in her everyday clothes instead of her chef uniform, with her eyes fixed on her laptop.“It being near the end of our project, things are quite hectic,” she said. Jung Seo-young is introducing Bburi Kitchen’s website on her laptop at a cafe in Samgakji on May
June 8, 2017
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Electric cars to receive blue license plates
Electric cars and fuel cell electric vehicles in Korea will be assigned blue license plates starting Friday, according to the Transport Ministry on Thursday.“The government has chosen to provide different license plates for electric cars to increase interest in eco-friendly cars and give pride to the drivers of these cars as environment and energy-related issues become more important,” the Ministry said. (Yonhap)The film used to cover the license plates will allow sensors to quickly identify el
June 8, 2017
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[Photo News] Shinsegae runs pop-up exhibition for Han Soo
HAN SOO POP-UP IN SHINSEGAE -- Shinsegae DF said Thursday that it is running a pop-up exhibition for Han Soo that features modern reinterpretations of traditional Korean crafts at Dongdaemun Design Plaza in Jung-gu, Seoul. The exhibition, a collaboration with design magazine publisher Design House, aims to introduce young designers working in traditional crafts. It will continue through June 23. (Shinsegae DF)
June 8, 2017
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Asiana joins hands with Luotian Elementary School
Asiana Airlines said Thursday that the company has partnered with Luotian Elementary School in Jianxi province, China, to provide support for children’s education. The partnership ceremony was attended by Moon Myeong-young, Asiana’s executive vice president for passenger business, Vice Consul General Seo Yong-won of the Korean Consulate in Wuhan and Peng Kai Xian, head commissioner of the Anyi County People’s Government.An Asiana Airlines flight attendant teaches a flight crew vocational class a
June 8, 2017
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Air Busan begins daily flights between Daegu-Tokyo
Air Busan, a South Korean budget carrier, on Thursday launched a new route connecting the country's southern city of Daegu to Tokyo, apparently in a bid to cope with the falling number of passengers from China.The daily passenger service will depart from Daegu at 8:40 a.m. every morning and arrive at Narita International Airport at 10:40 a.m. (Yonhap)Air Busan also expanded the number of flights connecting Daegu and Sapporo to five times a week from the previous three. The route connecting to Os
June 8, 2017
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Five more firms picked for fast-track restructuring program
Five South Korean firms received government approval to carry out their voluntary corporate restructuring through fast-track legal and administrative procedures, the industry ministry said Thursday.The Ministry of Trade, Industry and Energy said a government panel chose five companies, including LG Siltron Inc., which manufactures wafers for semiconductors; ITC Co., a cable supplier; and Shin Pung Textile Co. to endorse their proposed restructuring efforts to boost competitiveness. (Yonhap)With
June 8, 2017
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LVMH chairman visits Korea ahead of exhibition
Bernard Arnault, chairman of the French luxury goods conglomerate LVMH, visited South Korea for a two-day trip on Wednesday to take part in an exhibition set up by its Louis Vuitton brand here, industry sources said. The 68-year-old business tycoon showed up at Dongdaemun Design Plaza in Seoul to check the exhibition titled "Volez, Voguez, Voyagez - Louis Vuitton," which will open Thursday and run through Aug. 27. This photo, taken on June 7, 2017, shows the exhibition Volez, Voguez, Voyagez -
June 7, 2017
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Samsung Heavy set to bag $1.5b deal
Samsung Heavy Industries Co., a major shipyard here, is likely to win a $1.5 billion deal to build a total of 12 articulated tug barges, industry sources said Wednesday.According to the sources, Samsung Heavy has signed a letter of intent with SeaOne for the deal which calls for the construction of the barges that will carry compressed gas. (Yonhap)Negotiations are still underway to finalize the deal, the observer said. Details of the potential deal have not been disclosed.If the deal goes smoot
June 7, 2017
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Singapore Airlines revamps frequent flyer program
Singapore Airlines has introduced new benefits and rewards under its PPS Club program, the highest tier within the airliner’s frequent flyer program, KrisFlyer. Among the new benefits exclusive to PPS Club members are the non-expiry of KrisFlyer miles, priority access to Saver award redemption inventory, and fast-track security and immigration clearance at selected airports. In addition, members will have access to complimentary preferred seat selection when traveling in select classes. “The int
June 7, 2017
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Food giants rush to adopt holding company structures
Major South Korean food companies are moving fast to adopt holding company structures amid growing concerns among corporate circles over the Moon Jae-in administration’s chaebol reform drive. Maeil Dairy Industry said it changed its name to Maeil Holdings Co. in April as it has adopted the holding company structure and split off Maeil Dairies as a business unit. Orion, a local confectionary company, also took a similar path, splitting off the company into a holding company -- Orion Holdings -- a
June 7, 2017
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Borny recalls Outlast air mattresses over rash
Baby goods maker Borny Korea has recalled its line of products made with the Outlast material after receiving reports the material’s powder coating can cause rashes. On Wednesday, the company posted an official apology from its President Hong Seong-woo via its website.“We began selling the products without suspicion because the material had been certified as safe, passed through customs without problems and had passed all safety inspections in Korea for children’s products,” the statement read.O
June 7, 2017
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[Photo News] Homeplus releases Haeundae Beach Ale for this summer
BEER FOR HAEUNDAE – Homeplus’ latest product Haeundae Beach Ale is on display. The ale is a craft beer targeting the summer vacation season featuring the famous beach in Busan with an alcohol level of 4.2 percent priced at 3,900 won ($3.50) a can. The product is manufactured by Korea Craft Brewery and is to be sold at 142 Homeplus branches nationwide, the company said Wednesday. (Yonhap)
June 7, 2017
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Hyundai Asan to launch new cruise tour between Korea, Japan
Hyundai Asan Corp. said Wednesday it will offer a new cruise package from the southern port city of Busan starting next month. The 75,000-ton Costa Victoria, which can carry up to 3,000 people, will make the first departure from a port in Busan, some 453 kilometers southeast of Seoul, on July 27 for a five-day round trip to Japan, the tourism company said. (Yonhap)The ship is equipped with various entertainment facilities, including an outdoor swimming pool, a duty-free shop, restaurants and a
June 7, 2017
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Unfair intra-affiliate transactions rise 23% despite regulations
Unfair intra-affiliate transactions by business conglomerates rose by 23.1 percent last year, despite the government's efforts to clamp down on such business practices that are considered unfair ways to help such companies, industry data showed Wednesday.According to the data by corporate tracker CEO Score, the value of unfair in-house transactions by 91 affiliates of conglomerates rose by 1.4 trillion won ($1.2 billion) from two years ago to 7.9 trillion won last year. (Yonhap)The total value o
June 7, 2017
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Posco fires up expanded blast furnace
South Korea’s largest steelmaker Posco fired up its third blast furnace Tuesday after three months of renovation work that turned the steelmaking unit into the world’s fifth largest, the company said. Posco spent a total of 370 billion won ($330 million) to reconstruct and expand its capacity to 5,600 cubic meters from 4,350 cubic meters. Posco also added an automated monitoring system to check “the inner condition of the blast furnace” on a real-time basis, an official said. The monitoring syst
June 6, 2017
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[Photo News] Food prices rise amid severe drought and outbreak of bird flu
RISING FOOD PRICES -- A customer shops at a supermarket in Seoul on Tuesday. With a severe drought and outbreak of bird flu, consumers worry prices of fresh foods including chicken and eggs could rise further. As of Monday, chicken rose to 5,905 won ($5.30) per kilogram and 30 eggs had risen to 7,931 won, according to Korea Agro-Fisheries & Food Trade. (Yonhap)
June 6, 2017
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Exports of dried laver up 58% in first five months
South Korea's exports of dried laver surged 57.6 percent in the first five months of 2017 from a year earlier, data showed Tuesday.Outbound shipments of dried laver came to $218 million in the January-May period, according to the data compiled by the Ministry of Oceans and Fisheries. (Yonhap)Dried laver, called "gim" in Korean, is usually roasted with sesame oil and fine salt to be served as a side dish in Korean dining. Snacks made of gim have gained popularity among foreigners in recent years.
June 6, 2017
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SK seeks new talent at US forums
Top executives at SK Group are taking part in forums on the east and west coasts of the United States in the hope of scouting fresh talent, according to the company Tuesday.SK is hosting two forums called the “2017 SK Global Forum” in both areas, introducing its global accomplishments and future vision while recruiting new talent. SK Supex Council’s energy and chemical committee President Kim Jun speaks at the 2017 SK Global Forum at The Westin Jersey City Newport Hotel in New Jersey, Saturday.
June 6, 2017
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Conglomerates turn family-friendly under new administration
Major conglomerates are moving in tandem to bring in family-friendly policies under the new administration led by President Moon Jae-in, aligning themselves with the work-life balance focus of the new government.Over the past month, companies such as CJ Group, SK Group and E-Land Group announced reforms to company regulations regarding issues such as maternity leave and after-hours work.These reforms coincide with the talking points emphasized by President Moon Jae-in ahead of the election in ea
June 6, 2017