Most Popular
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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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Key suspects grilled over alleged abuse of power in Marine death inquiry
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S. Korean children, teens grow taller, mature faster than before: study
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[Graphic News] Number of coffee franchises in S. Korea rises 13%
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Army takes group action against Hybe for neglecting BTS
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Some junior doctors are returning: Health Ministry
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[Robert J. Fouser] AI changes rationale for learning languages
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Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
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Woman dangling from power lines rescued by residents holding blanket
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SM may ask Hyundai Merchant to jointly acquire Hanjin's US terminal
SM Group is looking for a partner in its plan to buy Hanjin Shipping Co.'s 54-percent stake in a port terminal on the US West Coast, an acquisition estimated at more than 400 billion won ($342.5 million), according to industry sources Wednesday.SM Group, which owns South Korea's No. 2 bulk carrier Korea Line Corp., has been seeking to buy a partial stake in the port terminal in Long Beach, California, after acquiring the troubled shipper's US-Asia route and other assets for 37 billion won last w
Nov. 30, 2016
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Elliott describes Samsung's overhaul plan as 'constructive'
US hedge fund Elliott Management said Wednesday that Samsung Electronics Co.'s decision to consider shifting to a holding company structure and boost dividend payouts was "a constructive initial step" but hinted it wants "more meaningful changes."Shares of Samsung climbed a day after its announcement of governance overhaul decisions, which include a review of the possibility of creating a holding company structure, a 30 percent increase in dividends and an appointment of an independent director
Nov. 30, 2016
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Coffee companies tie cultural promotions to their business
Coffee companies are engaging in cultural promotions as a way of improving their brand image with customers through hosting mini concerts and art exhibitions.Dongsuh Food, famous for its instant coffee mix brand Maxim, recently hosted its latest classical music concert in the southwestern city of Jeonju on Nov. 2. The company began the "Dongsuh Coffee Classic" series in 2008 as a cultural sharing event and to help promote the music genre in the country. The concert has toured throughout the nati
Nov. 30, 2016
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Drug companies make changes to hangover remedies to gain customers
Pharmaceutical companies are diversifying hangover remedies to cater better to customers, especially foreigners, creating new products in different packaging, industry officials said Wednesday.Handok succeeded in grabbing Chinese customers with its Ready Q Chew, the only jelly-type hangover remedy in the local market, where most of the products are bottled drinks. "Ready Q Chew spread through the word of mouth among Chinese tourists, and its sales this year leaped about 970 percent this year fr
Nov. 30, 2016
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Convenience stores become biggest seller of alcohol drinks
Convenience stores have become the largest market for selling alcohol drinks, a market report showed Wednesday, apparently due to more people choosing to drink alone or with their families.The retail index provided by information analysis firm Nielsen Korea said convenience stores ousted discount chains to become the biggest seller of alcohol for the first time in the first half of this year.Sales increased across the board at convenience stores compared with previous years. For low alcohol cont
Nov. 30, 2016
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KFS strives to boost export of forest products
The Korea Forest Service is striving to boost exports of forest products through various support programs amid the sluggish global economy As of August this year, exports of forest products reached $260 million, showing little on-year improvement. Exports of wood and stone products rose by 4.5 percent and 32.4 percent, respectively, while short-term forest products such as mushrooms and potted plants dropped by nearly 20 percent. The drought during summer had led to a drop of production and a ri
Nov. 29, 2016
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[FROM THE SCENE] East Asia gears up for next industrial revolution
The Korea Herald is publishing a series of articles on the moves made by the companies and governments of South Korea, China and Japan in entering the new industry 4.0 era. This is the first installment. -- Ed. Beijing’s InnoWay, Osaka’s Knowledge Capital and Pangyo’s Gyeonggi Center for Creative Economy and Innovation are hotbeds of innovation in East Asia. These sites are where Korea, China and Japan are pinning their hopes for the fourth major upheaval in manufacturin
Nov. 29, 2016
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Samsung to announce probe results of fire-prone Galaxy Note 7 within the year
[THE INVESTOR] Samsung Electronics is expected to announce the final results of its probe into the fire-prone Galaxy Note 7 within the year, industry sources said on Nov. 29.On Nov. 11, the Korean tech giant launched a new round of investigation to find out the cause of several fires and explosions related to the bigger-screen phone together with product safety authorities and experts both in Korea and the US. Right after the first recall issued in September, the company pinpointed faulty batter
Nov. 29, 2016
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S. Korea to ban sales of Nissan, BMW, Porsche vehicles over fabricated reports
The South Korean government said Tuesday it will ban sales of six models by three foreign automakers, accusing them of fabricating reports to win sales approval from the local government.The Ministry of Environment said it detected defects in the certification documents of 10 vehicle models from the local units of Nissan, BMW and Porsche.Among them, six models -- the Infinity Q50 and Qashqai from Nissan, the X5M from BMW and the Macan S Diesel, Cayenne S E-Hybrid and Cayenne Turbo from Porsche -
Nov. 29, 2016
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Google releases latest translation, image services in Korea
Google Korea on Tuesday unveiled its latest services -- Google Translate and Google PhotoScan -- using highly advanced operations in artificial intelligence. “The main breakthrough (of the Neural Machine Translation) is that translations are made in one sentence, rather than bits, so it’s more accurate and natural,” Barak Turovsky, a group product manager for Google Translate, told reporters through a video call from California. As for the aim of Google Translate, Turovsky said Google hopes to
Nov. 29, 2016
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Samsung puts transition process on fast-track
In a widely anticipated move, Samsung Electronics said Tuesday that it would review creating a holding company, increase cash returns to shareholders and have at least one outside director as part of efforts to enhance shareholders’ value. The announcement comes nearly two months after a proposal by US activist hedge fund Elliott Management to reshape its corporate structure. On Oct. 6, Elliott, through its affiliates -- Blake Capital and Potter Capital -- sent a letter to Samsung Electronics’ b
Nov. 29, 2016
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Korea Forestry Service awards examplary exporters
The Korea Forestry Service and the Korea Forestry Promotion Institute held its flagship awarding ceremonies recently for companies that have excelled in exporting forest-related products and paving way for the industry’s wider overseas advances, officials said Tuesday.The 2016 Forestry Products Pioneering Contest was held for the first time in August in a bid to foster overseas market entries of fresh, quality forestry goods. First Prize -- Kyungsan Hanbang Daechu by Kyungsane Farming Associati
Nov. 29, 2016
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Korea Industrial Complex Corp. backs auto exporters in Vietnam
Korea Industrial Complex Corp. aims to increase its support for auto parts exporters looking to increase sales to Vietnam, the state-run corporation said Tuesday. KICOX is a government agency set up in 1997 to support companies in industrial complexes here. Since 2010, the corporation has carried out diverse programs to support auto parts companies in Changwon, South Gyeongsang Province. It has built a network with Vietnamese regional governments, the automobile manufacturers’ association and au
Nov. 29, 2016
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S-Oil offers research funding for promising scientists
Korea’s oil refiner S-Oil has provided research grants totaling 275 million won ($235,000) for promising scientists as part of its annual programs to support basic science, the company said Tuesday. S-Oil CEO Othman Al-Ghamdi (left) awards prizes to the recipients at the 6th Dissertation of the Year Awards held in Seoul, Tuesday. (S-Oil)S-Oil Science Prodigy and Culture Foundation, a non-profit organization established by the refiner, offered the scholarships to 10 young scientists in its 6th D
Nov. 29, 2016
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Korea ready to back US infrastructure plan
South Korea’s trade minister vowed Tuesday in a meeting with US business representatives to provide policy support to boost Korea-US bilateral cooperation in line with the new US administration’s future drive in infrastructure and manufacturing.Joo Hyung-hwan, minister of trade, industry and energy, said he is seeing new opportunities in US President-elect Donald Trump’s campaign pledge to spend $1 trillion in infrastructure projects in the next five years to prop up the US economy.Joo Hyung-hwa
Nov. 29, 2016
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Korea's imports of Iranian crude more than double in Q3
South Korea's imports of Iranian crude oil soared in the third quarter of this year from a year earlier following the lifting of international sanctions against the Middle East country, government data showed Tuesday.A total of 29.8 million barrels of crude oil was imported from Iran during the July-September period, soaring 147.7 percent from 12 million barrels tallied over the same period last year, according to the data compiled by the Ministry of Trade, Industry and Energy.Iran had been one
Nov. 29, 2016
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Samsung Electronics reviews holding company structure
Samsung Electronics Co. said Tuesday it has been reviewing the "possibility" of creating a holding company structure to improve the company's corporate structure and enhance its transparency. In a statement, Samsung said it will also increase total dividends in 2016 by 30 percent on year, bringing the annual dividend amount to 4 trillion won ($3.4 billion)."Samsung Electronics has taken steps to simplify its business to concentrate on core capabilities in the past several years and the company c
Nov. 29, 2016
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Samsung to unveil plan on Elliott’s proposal
Samsung Electronics is set to unveil its position Tuesday on a proposal to split the company into two, a suggestion made by activist hedge fund Elliott Management.In early October, Elliott called on Samsung Electronics to separate into a holding company for ownership purposes and an operating company. It also suggested dual-listing the operating company on the US exchange Nasdaq and paying shareholders a special dividend of $27 billion. In response to the proposals, Samsung had said it would sha
Nov. 28, 2016
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S-Oil to donate W200m of heating oil to underprivileged
Korean oil refiner S-Oil said Monday it would hand out heating oil worth 200 million won ($171 million) as part of its regular community service efforts to support people in need. (S-Oil)Under the “Hope to You” campaign, S-Oil CEO Othman Al-Ghamdi donated 200 million won to the Korea National Council on Social Welfare. The fund will be used to provide fuel vouchers for low-income families and senior citizens living alone, with each household getting vouchers worth 1 million won. “I was quite he
Nov. 28, 2016
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No industries to enjoy boom next year: report
No Korean industries are likely to prosper next year, despite some business improvements in several sectors, such as the information and communication technology, automotive and steelmaking industries, a report by a research institute showed Monday. According to the Hyundai Research Institute’s report on the future of seven Korean industries, the ICT industry will continue to gradually recover next year, particularly in the production and export of semiconductors. However, the tougher competitio
Nov. 28, 2016