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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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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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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Fintech start-up, KB Kookmin roll out robo-adviser
Financial technology start-up Quarterback Investments said Sunday that it has rolled out a robo-adviser solution for trust goods, dubbed the Quarterback R-1, jointly with KB Kookmin Bank, Korea’s largest retail bank by asset value. Utilizing data from exchange-traded funds and exchange-traded notes in the domestic and global markets, the Quarterback R-1 enables investors to diversify their investment portfolio for stable returns, according to the Korean start-up, an affiliate of fintech firm all
Jan. 10, 2016
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Korean Air inks contract to mass-produce unmanned aerial vehicle
South Korea's No. 1 air carrier Korean Air Lines Co. said Sunday that it has signed a 400 billion-won ($333.5 million) deal with the military procurement agency to mass-produce reconnaissance unmanned aerial vehicles as part of the government's plan to build up its aerial mission capability.Under the contract with the Defense Acquisition Program Administration signed last year, Korean Air will mass-produce the reconnaissance drones from 2016 to 2020, the company said.Detailed terms of the contra
Jan. 10, 2016
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Korea's auto exports drop 2.8% in 2015
South Korea's automobile exports fell 2.8 percent in 2015 from a year earlier on weaker demand from emerging markets, the government said Sunday.Outbound shipments of vehicles came to 2.98 million units for 2015, down from 3.06 million units tallied a year earlier, according to the Ministry of Trade, Industry and Energy.The total value of overseas shipments also slid 6.4 percent on-year to $45.8 billion last year, marking the first on-year drop in three years after peaking at $48.9 billion in 20
Jan. 10, 2016
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Seoul reaps more taxes from tobacco
The government has earned some 3.6 trillion won ($2.90 billion) in tax revenue linked to last year’s hike in tobacco prices, according to government data.Sales, however, were not as affected as anticipated. The Finance Ministry said Thursday that tobacco sales in Korea fell by 23.7 percent from 2014. Prior to almost doubling cigarette prices to 4,500 won from 2,500 won a pack, the government had predicted sales would fall by 34 percent, while tax revenues would rise by 2.8 trillion won.Finance M
Jan. 8, 2016
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Domestic market share of Hyundai, Kia stays below 70%
The combined domestic market share of Hyundai Motor Co. and its affiliate Kia Motors Corp. remained below the 70 percent level for the second straight year in 2015, affected by the marked advances of foreign brands and intense competition from other smaller local rivals, industry data showed Friday.According to the data, Hyundai Motor and Kia Motors commanded 67.7 percent of domestic car sales last year, compared with 69.3 percent a year earlier. In particular, Hyundai's market share dropped to
Jan. 8, 2016
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Samsung puts Q4 operating profit at 6.1 tln won
Samsung Electronics Co. said Friday its operating profit dropped sharply in the fourth quarter of 2015 from three months earlier amid weakening chips and smartphone sales.The tech giant estimated its fourth-quarter operating profit at6.1 trillion won ($5.08 billion), down 17.5 percent from the 7.3 trillion won recorded a quarter earlier. The figure, however, marks a 15.3 percent surge from the 5.2 trillion won registered a year earlier.Fourth-quarter sales were estimated at 53 trillion won, up 0
Jan. 8, 2016
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Volkswagen estimates recall cost in Korea at 8 bln won
The local unit of German carmaker Volkswagen in South Korea has estimated the cost for fixing its emission-faked vehicles at 8 billion won ($6.7 million) in its recently submitted recall plan, industry sources said Friday.It also seeks to recall around 125,000 vehicles during the first half of this year "after getting approval from authorities here," a precondition that could delay the overall process, they added. On Wednesday, Volkswagen Korea submitted its recall plan to the environment minist
Jan. 8, 2016
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Samsung's Q4 operating profit misses forecast
Samsung Electronics’ fourth-quarter earnings in 2015 are expected to remain below par, raising market concerns over its deteriorating businesses.Announcing its earnings guidance for the October-December period, the Seoul-based electronics firm estimated that its operating income would stand at 6.1 trillion won ($5.1 billion), down 17.46 percent from the previous quarter. Samsung employees enter the company`s office in southern Seoul on Friday. YonhapThe operating profit missed an average market
Jan. 8, 2016
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Lotte to operate Tokyo duty-free store
Lotte Duty Free on Thursday announced that it has won the Japanese state license to operate a duty-free store in the affluent area of Ginza in Tokyo. Lotte would become the first company ever to run an urban duty-free store in downtown Tokyo, the company said. The 4,396-square-meter store will open in late March, targeting more than 20 million people, mainly Chinese tourists, visiting the luxurious shopping district. “We believe that this store will enhance our global brand image,” a Lotte spoke
Jan. 7, 2016
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Origins launches Three Part Harmony
Beauty brand Origins released its Three Part Harmony package, consisting of nourishing cream and an oil-infused serum. The main substance is extracted from daffodils, whose bulbs are known for resilience. Other materials and substances include vitamin E, licorice, apple, cucumber, seaweed and others. They are believed to smoothen the skin and give it a revitalizing effect. The cream and serum are priced at 98,000 won each. (baejisook@heraldcorp.com)
Jan. 7, 2016
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Philips rolls out Luminous Textile LED lighting
Philips Korea released the Luminous Textile LED lighting, which was produced in collaboration with the Danish fabric brand Kvadrat Soft Cells.Luminous textile integrates multicolored LEDs seamlessly within fabric panels that also soften sounds. The panels are finished with Kvadrat textiles, using a patented technology to maintain constant tension on the fabric within the aluminum frame. This allows the users to adjust the color, movement, texture and light, Philips said.(baejisook@heraldcorp.com
Jan. 7, 2016
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Tous les Jours opens cafe in Indonesia
CJ Foodville’s Tous les Jours opened its 19th Indonesian outlet in the southern city of Bogor. This is also the 214th overseas outlet for the dining arm of CJ Group. The store is located inside the bustling Botani Square shopping mall and is close to the presidential palace, a botanical garden and other commuters/tourist-frequented areas. Banana donuts, Sneakers Frappe and Tiramisu Frappe are available for customers with a sweet tooth. (baejisook@heraldcorp.com)
Jan. 7, 2016
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Lotte launches Charlotte chocolate brand
Lotte Confectionery launched premium chocolate brand Charlotte, made with 100 percent cacao beans. The Charlotte Hazelnut Classic contains hazelnut milk, while the Charlotte Cranberry & Almond Classic boasts a chewy feeling of the dried cranberries and almond. The Chocolat Torte’s pie filling has two parts chocolate coating to one part chocolate jam, emulating the quintessential high-end European pie, the company said. Lotte plans to release three more products in the near future. (baejisook@her
Jan. 7, 2016
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Celltrion starts sales of foundation
Celltrion Skincure launched the Cell Cover Foundation with a gel texture. Celltrion Skincure was established after pharmaceutical company Celltrion recently acquired the blemish balm-maker Hanskin. The foundation contains three patented hydration substances ― Fill-pop, Adipofill’in and Aquaxyl ― as well as biomimetic water to bring a lasting glow to the skin, the company said. The product also comes in an airless container, blocking exterior contagions to enhance hygiene. It comes in two shades
Jan. 7, 2016
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Aritaum collaborates with Jain Song
AmorePacific’s flagship store brand Aritaum launched Aritaum X Jain Song kit, which was produced in collaboration with the noted fashion designer Jain Song. The kit consists of an eyeshadow palette and a folding-strap clutch, of which designs are inspired by Song’s signature star patterns and imprinted on the cover. The kit is given free for those who join the Aritaum VIP membership for 30,000 won.VIP members who purchase more than 30,000 won worth of items will also receive a limited edition po
Jan. 7, 2016
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Uniqlo releases collaboration with French supermodel
Uniqlo launched the 2016 S/S Ines de la Fressange collection, a collaborative line with the fashion model and designer. Under the three themes, “voyage,” “uniforme” and “Le Sport,” various items ranging from trench coat, knits, shirts, ensembles and others represent the quintessential French chic atmosphere, the Japanese apparel-maker said. The products are available at all Uniqlo stores as well as www.uniqlo.com. A follow-up release will be made at the end of February. (baejisook@heraldcorp.com
Jan. 7, 2016
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SK Innovation vice chairman stresses ‘structural reform’ in 2016
SK Innovation vice chairman Chung Chul-khil set forth “structural reform” as the company’s key business goal for 2016 during a high-level gathering of the company and its five affiliates in Seoul on Thursday. “To actualize our goal to reach a market valuation of more than 30 trillion won ($25.3 billion) and become a global leader in the energy and chemicals sector, SK Innovation cannot settle for an operational profit of 1 to 2 trillion won,” Chung said. “We must develop into a company able to p
Jan. 7, 2016
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Beer emerging as Korea’s top-selling alcohol
Beer has emerged as South Korea’s most popular liquor by sales, preference and market share, edging out soju, long considered a “national drink,” as consumer tastes lean toward low-alcoholic drinks. Korea’s total beer shipment surged 5.1 percent from 1.96 million kiloliters in 2009 to reach some 2.06 million kiloliters in 2013, according to a 2015 report recently released by the Ministry of Agriculture, Food and Rural Affairs. During the same period, shipments of soju — around three to four time
Jan. 7, 2016
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Sanofi teams up with top Korean universities for new drug R&D
Sanofi-Aventis Korea, the local affiliate of France-based global health care company Sanofi, said Thursday it has sealed a partnership with two leading Korean universities to jointly research and develop a new range of immune cell therapies. Sanofi is joining hands with Korea’s leading science research universities KAIST and Seoul National University to develop an “immune cell therapy platform” to produce high-performance immune cell therapies to treat cancer.(Sanofi-Aventis Korea) The global ph
Jan. 7, 2016
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Fuel surcharge for domestic flights to be lowered to zero next month
The fuel surcharge imposed on domestic flights in South Korea will be lowered to zero for the first time due to protracted low global oil prices, airline companies said Thursday.According to Korean Air Lines Co. and Asiana Airlines Inc., the country's two major flag carriers, the fuel surcharge that customers have to pay when using domestic flights will be cut to zero next month from the current 1,100 won ($0.91).It marks the first time that customers will not pay any surcharge on domestic fligh
Jan. 7, 2016