Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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SK E&C inks $3.2b power plant deal
SK Engineering and Construction announced Friday it had inked a deal worth 3.7 trillion won ($3.23 billion) to build South Korea’s largest private power plant in Goseong, South Gyeongsang Province. The company will build two generator units at the thermal power plant, which will have a capacity of 1,040 megawatts. The company said it would apply top-notch technology to build an efficient power plant. It will adopt a technology called “ultra super critical,” which can in
Feb. 3, 2017
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[Superrich] After acquittal, Nexon founder sets out for new future
Korea’s top 100 rich list is dominated by chaebol families, but there is one self-made man who has made it on to the list, Kim Jung-ju. At 49 years old, Kim is the chairman of NXC, the holding company of Nexon, which is the representative figure of the online game industry.According to The Superrich Team’s “Korea’s Richest 100,” Kim has 2 trillion won ($1.7 billion) worth of assets through his ownership of unlisted companies. He ranks 12th as of Jan. 30 on the list.Kim does not own any share of
Feb. 2, 2017
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[Superrich] Daughters jumping into business
An increasing number of second- to fourth-generation daughters of the nation’s large conglomerates are seen joining the ranks of management in recent years. These daughters, born in the 1980s and 1990s, tend to graduate from universities abroad and start their careers at consulting firms before joining their family businesses. They tend to enter their fathers’ companies in their mid-20s, with some of them starting off as rank-and-file employees and being promoted to executive levels within three
Feb. 2, 2017
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Hyundai Motor plans to build Korea's tallest building in Seoul
Hyundai Motor Group's new headquarters building to be constructed in southern Seoul by 2021 will be the country's tallest, a district office said Wednesday.Its draft document for environmental impact assessment submitted to the Gangnam Ward Office showed that the main building of the planned Global Business Center (GBC) will be 569 meters tall.Previously, the world's fifth-largest carmaker said the 105-story main tower will be 553 meters, lower than the 555-meter Lotte World Tower awaiting the c
Feb. 1, 2017
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[Advertorial] Samsung Fire & Marine offers reliable service for customers
Samsung Fire & Marine’s insurance risk consultant program offers a win-win system that provides stable jobs for women and reliable services for customers. The company offers a six-month training course for a beginner RC in order to provide a systemic education for its RCs. The job offers stability both in career and income, making it particularly helpful for women seeking to re-enter the job market after raising children, the company said.A Samsung Fire and Marine Insurance Co. Risk Consultant i
Jan. 25, 2017
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McDonald’s Korea joins Herald campaign
McDonald’s Korea is participating in The Korea Herald’s campaign to provide newspapers to military units in isolated regions as part of its social responsibility program, the company said Wednesday.The units are located in areas including Hwacheon in Gangwon Province and Icheon and Yeoju in Gyeonggi Province. Some 50 editions will be provided to the units for a year. (Yonhap)McDonald’s have been exerting continuous CSR efforts under its corporate philosophy of contributing to the development and
Jan. 25, 2017
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OB supports children through ‘Happy Library’ project
Oriental Brewery has launched this year’s first “Happy Library” project to improve after-school programs for children in conjunction with the Headquarters for Community Child Center, the company said Tuesday. The project is part of the company’s social responsibility program involving the renovation of child education facilities and provision of various education kits and books.For this year’s project, the company selected three community child centers in Seoul, Gwangju and Cheongju that were in
Jan. 24, 2017
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[Superrich] Korea’s Richest 100 born in the year of chicken
The Year of the Chicken has arrived. According to the Superrich team’s “Korea’s Richest 100” database, there are four people in the business world who were born in the year of the chicken, which are 1945, 1957, and 1969. Among the four is Hong Ra-hee, 72, who is the director of the Museum of Art. She has the largest amount of assets out of the four. Born in 1945, Hong is the wife of Samsung Electronics Chairman Lee Kun-hee. Together they have three children -- Lee Jae-yong, the Vice Chairman of
Jan. 19, 2017
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[Superrich] From poultry farmers to conglomerate chiefs
When poultry farming was a promising business in the mid-1970s, there were two high school students in the Jeolla provinces showing their business acumen from an early age.One was Kim Hong-kuk, a student of Iri Agricultural High School in Iksan-si, North Jeolla Province. Born in 1957, Kim’s grandmother bought him 10 chicks when he turned 11. He sold the chickens once they grew up, and used the profit to buy more chicks. By 1975, he owned over 1,000 chickens -- and was also in his first year of h
Jan. 19, 2017
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Posco climbs ranking of most sustainable corporations
South Korea’s leading steelmaker Posco has made it to the Corporate Knights’ 100 most sustainable corporations list, becoming the first steelmaker listed three consecutive years, the company said Wednesday. The list has been released by Corporate Knights, a Canadian media and research company, at the World Economic Forum in Davos, Switzerland every year since 2005. (Yonhap)Posco ranked No. 35, climbing five places from the previous year. It is the highest ranked South Korean company, with the o
Jan. 18, 2017
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Woori Bank named best wealth manager
Woori Bank has been selected as a winner of the 2016 World Finance Best Wealth Management Awards, the bank said Thursday. (Yonhap)World Finance, a London-based finance magazine, names one financial institute from each country as the best wealth manager in the country. Woori Bank is the first Korean company to receive the award, the firm said. World Finance said it took into consideration Woori Bank’s mobile initiatives and sales performance of bancassurance and private equities. Woori has set up
Jan. 12, 2017
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Special counsel summons Samsung’s Lee Jae-yong for questioning
Just three days after questioning Samsung Group’s top brass, the independent counsel investigating the President Park Geun-hye scandal summoned the de facto leader of the country’s largest conglomerate, Lee Jae-yong, as a suspect for bribery charges, according to the special investigator’s office Wednesday. Lee, vice chairman of Samsung Electronics, will appear at the investigators’ office at 9:30 a.m. Thursday and face questions regarding possible bribery charges. 
Jan. 11, 2017
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Samsung Heavy wins $1.27b deal
Samsung Heavy Industries, one of South Korea’s three biggest shipbuilders, won a 1.5 trillion won ($1.27 billion) order to build an offshore facility, the company said Thursday. It is the first mega offshore facility deal in the new year for the country’s shipbuilders, which suffered a sharp decline in orders last year. The combined annual new orders clinched by the country’s big three shipbuilders -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and
Jan. 5, 2017
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Hanwha to focus on core competency
Hanwha Group Chairman Kim Seung-youn asked each affiliate to focus on developing their core competency to lead future growth. “The advent of the fourth industrial revolution is a big challenge and opportunity for us,” Kim said Monday. “Based on the long-term trend, such as a decrease in the production population, we should beef up our future competency with new technology, new business and new markets.” The defense unit should aggressively expand in overseas markets w
Jan. 2, 2017
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Hyundai chief urges company to overcome uncertainty
Hyundai Motor Group Chairman Chung Mong-koo on Monday urged the company to strive to overcome the uncertain business environment and achieve the group’s sales target of 8.25 million cars in the new year. “Trade protectionism is spreading and competition in the auto industry is intensifying, raising business uncertainty” Chung warned Monday during a New Year’s meeting. “We will have agile and flexible responses to changes in the external environment by ensuring in
Jan. 2, 2017
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[ADVERTORIAL] Samsung C&T carries out global CSR
Samsung C&T has been engaging in corporate social responsibility projects by using its expertise as a leading construction and engineering firm.Its representative projects include “C&T village” and “Dream Tomorrow.”C&T village helps improve living conditions in different countries in conjunction with volunteer organization Habitat for Humanity Korea. This includes rebuilding and fixing houses, and setting up bathrooms and water fountains, along with other ways to create a safe and sanitary livin
Dec. 29, 2016
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[ADVERTORIAL] Hyundai Card opens co-working space ‘Studio Black’
Hyundai Card, the financial unit of Hyundai Motor Group, has opened Hyundai Card Studio Black, a co-working space for fledgling entrepreneurs and creators, near Gangnam Station in southern Seoul. Hyundai Card -- known for its out-of-the-box management, which shook up the Korean finance market in 2003 -- has incorporated into Studio Black the successful elements that helped make the Hyundai Card a household name. Hyundai Card Studio Black (Hyundai Card)Features of the new venue include secure fa
Dec. 29, 2016
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[BEST BRAND] The importance of brand
By Park Heung-soo,Professor at Yonsei University School of BusinessApple’s brand value in 2016, according to Interbrand, was tops in the world at $178.1 billion. The No. 2 spot went to Google with $133.2 billion and third to Coca-Cola with $73.1 billion. South Korea’s Samsung came in at No. 7 with $51.8 billion.Brand value is a monetary unit of the current value of a brand. It would be the amount that would be added to the company account book’s net asset value when selling the business in retur
Dec. 28, 2016
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Mirae Asset scholarship program supports over 150,000 students
Since its establishment in 2000, Mirae Asset Park Hyeon Joo Foundation has supported more than 150,000 Korean students as part of its drive to share responsibilities for the country and society, the company said Tuesday. Students pose after a ceremony to sign certificates for Mirae Asset Park Hyeon Joo Foundation’s overseas exchange student scholarship program on December 26. (Mirae Asset Global Investments)Mirae Asset, the country’s leading financial group, runs a domestic scholarship program
Dec. 28, 2016
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[HERALD INTERVIEW] Globalization, new economic drives keys to EXCO growth: CEO
In coping with the difficult business environment in the competitive meeting, incentive, travel, convention and exhibition industry, globalization cannot be emphasized more, said Kim Sang-wook, president and CEO of the Exhibition and Convention Center, also known as EXCO, the country’s first regional exhibition center located in Daegu, North Gyeongsang Province.“Starting from 2017, we will cooperate more with global event organizers to attract international events, while promoting the global adv
Dec. 26, 2016