Most Popular
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Trump wins US election, foreshadows policy shift
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Changing K-pop stars: idols begin to speak out
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North Korean leader may seek another summit with Trump, but chances for deal seen as slimmer
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Yoon congratulates Trump
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South Korean won tumbles after Trump wins US presidential election
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As Suneung nears, 'magic pills' lure test takers, but experts warn of risks
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From Bush to Biden: How North Korea sees US elections
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[Graphic News] Cancer leads causes of death in S. Korea
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Harris, Trump secure expected wins in reliable states as vote counting proceeds
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[LLG] Typical Korean weddings were too boring. So they made their own
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[FROM THE SCENE] DJI eyes rapid growth with drones, robots
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 second installment. -- Ed. Shenzhen, CHINA -- “This is the future of our company and something China will be really proud of,” Wang Fan, communications director at the world’s biggest drone maker, Dajiang Innovation Technology Co., said in front of a displayed product. And it wasn&rsquo
Dec. 6, 2016
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Lotte targeted by China’s probe: reports
A large-scale investigation against Lotte Group’s businesses in China is increasingly seen here as a retaliation against the company’s decision to provide its golf club as a site to deploy the controversial US advanced missile defense system. Local media reported on Monday that Lotte appeared to be the sole foreign company under investigation in China, citing an anonymous industry source. “There are some companies which received a fire inspection or tax investigation but no co
Dec. 5, 2016
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Hyundai Heavy near deal with Iran for 10 ships: media
Hyundai Heavy Industries Co., a major shipyard in South Korea, looks set to clinch a deal with Iran to supply 10 ships, a news report said Saturday.Under the expected contract, valued at US$650 million, with the Islamic Republic of Iran Shipping Lines (IRISL), Hyundai will build four 14,400 TEU container ships and six 50,000 DWT product tankers, according to TradeWins, a global shipping news service. This undated file photo, provided by Hyundai Heavy Industries Co., shows a container ship. (Yonh
Dec. 3, 2016
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Lotte China probe fans THAAD retaliation fears
The tax investigation and safety inspection facing Lotte Group in China this week has sparked concerns Friday that the neighboring country is pressuring Korean companies in retaliation over South Korea‘s decision to deploy a US advanced missile defense system here. The Chinese government has not revealed the reason behind the large-scale inspection, but analysts believe it is linked to the decision by Lotte Group to host the Terminal High Altitude Area Defense system on a Lotte-owned golf
Dec. 2, 2016
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All-new 2017 Lincoln Continental launched in Korea
Ford’s luxury car division Lincoln Motor launched the all-new 2017 Lincoln Continental in Korea on Wednesday. The premium sedan is the 10th generation of the Lincoln Continental, reintroduced at a motor show in 2015 after a 13-year hiatus. The first generation was made as a holiday car for then-Ford president Edsel Ford in 1939. “Ford grew more than 150 percent in the five years in Korea. With the launch of the Lincoln Continental, we plan to accelerate the growth,” Kumar Galhotra, president of
Nov. 30, 2016
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Prosecutors seek 20-year prison term for former Oxy CEO
South Korean prosecutors on Tuesday sought heavy prison terms for those responsible for toxic humidifier sterilizer products that claimed many lives in the country.In the final hearing at the Seoul Central District Court, prosecutors have asked the court for a 20-year prison term for Shin Hyun-woo, a former CEO of Oxy Reckitt Benckiser, the Korean unit of a British household goods maker."The accused is the root cause of the massive tragedy," the prosecutors said. "We have no choice but to punish
Nov. 29, 2016
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Posco holds 2016 Partners’ Day to mark shared growth
Posco on Tuesday hosted its 2016 Partners Day to laud the efforts of shared growth and reward excelling companies.Posco Chairman Kwon Oh-joon delivers a speech at the company’s 2016 Partners Day event in Seoul, Tuesday. (Posco)The eighth annual event held at Posco Center was attended by Posco Chairman Kwon Oh-joon, outside figures such as Korea Commission for Corporate Partnership Chairman Ahn Choong-young and some 120 company officials and representatives of suppliers, client companies and part
Nov. 29, 2016
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HDC Shilla Duty Free eyes young, independent travelers
HDC Shilla Duty Free, currently preparing a bid for a new duty-free license in Seoul next month, said it plans to build a “millennial duty-free shop” aimed at young travelers coming independently by introducing high-tech services. Millennials refer to those born from the 1980s to early 2000s.This age group is considered to be independent with high consuming power, opting to travel alone rather than through tour agencies’ group itineraries. They are considered to be friendly towards South Korea’s
Nov. 25, 2016
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Hyundai aims to sell 100,000 units of new Grandeur
South Korea’s largest carmaker Hyundai Motor aims to sell 100,000 units of its new Grandeur, a company executive said at the official launch event Tuesday. “Before we began receiving preorders three weeks ago, I was worried because of the prolonged economic recession and end of benefits for the individual consumption tax and competition,” Lee Kwang-guk, an executive vice president of Hyundai Motor, told the media. ”But the record-breaking preorders have made me confiden
Nov. 22, 2016
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SK Group executive grilled over scandal-ridden foundations
An executive of South Korea's major conglomerate SK Group was questioned by prosecutors Monday over allegations the group was unlawfully pressured to donate to two nonprofit foundations, linked to a controversial figure with close ties to President Park Geun-hye. The prosecution said it called in the executive, identified only by his surname Park, to question him over the Mir Foundation and the K-Sports Foundation. South Korea's big businesses, such as Samsung and Hyundai, are said to have don
Oct. 31, 2016
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5 LG units get top mark in carbon sharing index
Five affiliates of LG Group have received the highest mark in measuring and sharing global information on climate and water resource change, the company said Monday.The list of LG units include LG Electronics, LG Display, LG Innotek, LG Chem and LG Uplus.They were named “Leadership A” companies by a London-based Carbon Disclosure Project, for facilitating the use of renewable energy and sharing information on how much greenhouse gas they emitted during their operations.CDP is an independent and
Oct. 31, 2016
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[ADVERTORIAL] KDB spreads hope to communities
Grey walls at a small neighborhood in Yeongdeungpo, western Seoul, were reborn with a combination of bright colors, by a group of Korea Development Bank employees, on Oct. 22, as part of a corporate social responsibility program by the state-run bank. The wall painting project initiated by the members of the KDB arts club, is one of the state-run financier‘s many CSR programs, aimed at spreading warmth to parts of the society through sharing.Members of the KDB arts club paint a concrete wall in
Oct. 30, 2016
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SKT, Hana launch joint venture Finnq
SK Telecom and Hana Financial Group launched a joint venture focusing on mobile financial services, the companies said in a press release Sunday. The joint venture, Finnq, was established with a starting capital of 50 billion won ($43 million) with SK Telecom holding a 49 percent stake while Hana owns the remaining 51 percent. The new venture will be backed by SK Telecom’s advance mobile platform technology and big data analysis capability, as well as Hana’s vario
Oct. 30, 2016
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3rd generation making their moves
South Korea’s leading companies such as Samsung and Hyundai have more than 60 years of history under their belt and these family-run enterprises now face leadership transitions as the third generation begins to take over. These conglomerates face the daunting task of balancing their multinational status with family control over management that now spans multiple generations. Their challenges are further complicated by the slowing economy, low growth and spreading protectionism in major
Oct. 25, 2016
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Hankook Tire unveils high-tech R&D center
DAEJEON -- Hankook Tire on Tuesday unveiled its new research and development facility in Daejoen, signaling the launch of the company’s drive to boost technological leadership in the industry. “Hankook Tire plans to focus on securing original technology, delivering products optimized for various consumers’ needs in this rapidly-changing business environment,” Suh Seung-hwa, vice chairman and CEO of Hankook Tire said during the opening ceremony of its new R&D center, Hankook Technodome.At Technod
Oct. 18, 2016
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LG Innotek unveils faster wireless charger
Smartphone accessory manufacturer LG Innotek has unveiled a 15-watt wireless charging pad for commercial use, the company said Wednesday. The 15-watt wireless charging transmitter pad can charge a completely depleted battery to the level of 50 percent within 30 minutes, as fast as a wired one, according to the company. It is also three times faster than most wireless charging modules in the market with 5-watt charging capability. An employee of LG Innotek displays the firm’s 15-watt wireless cha
Oct. 12, 2016
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Samsung BioLogics wins approval for IPO
Samsung BioLogics Co., a medicine-producing subsidiary of South Korea's Samsung Group, on Thursday won preliminary approval from the nation's bourse for its listing plan.It allows the firm to start the formal process for the initial public offering estimated to value at around 3 trillion won ($2.7 billion). Wrapping up more than a month-long review, a related committee of the Korea Exchange concluded that the company is qualified to be listed on the KOSPI market.The exchange plans to make its fi
Sept. 29, 2016
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[Super Rich] Superrich doctors take scalpel to old management
“The reluctant executive” was how Forbes magazine described Shin Chang-jae, the chairman of Kyobo Life Insurance, in a cover story in 2010. Despite being the firstborn son of Kyobo Life founder Shin Yong-ho, he never wanted to be a businessman. He chose to be a doctor, until one day, his father called. This week, The Super Rich team introduces the life and success stories of three doctor-turned-entrepreneurs from the medical school of the nation’s top Seoul National University. We start with Shi
Sept. 29, 2016
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[DECODED] SK runs on harmonious kinship, so far
At key SK companies, men surnamed Choi or Chey hold prominent management positions. Most of them are the offspring of the late SK Group founder Choi Jong-kun and relatives of current Chairman Chey Tae-won. Choi and Chey are the same Korean surname written differently in English, a deviation that stems from Choi’s US-educated brother Chey Jong-hyun choosing to spell his family name differently. Jong-hyun later inherited the group and became the second SK chairman. The oldest of the SK kin partici
Sept. 27, 2016
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[DECODED] Chey's control tightens at SK
The way SK Group reorganized its whopping 88 affiliates and subsidiaries into a holding company structure -- billed as an advanced model of multi-company governance -- is a subject of fervent study by Korea’s other family-run conglomerates often criticized for opaque governance. Through a series of carefully devised steps spanning well over a decade, Chairman Chey Tae-won simplified the group’s tangled ownership and eliminated highly controversial cross-shareholdings. He also secured greater con
Sept. 27, 2016