The Korea Herald

Samsung heiress named CITIC’s outside director

IndustryJan 9, 2015

Hotel Shilla CEO Lee Boo-jin, the eldest daughter of Samsung chairman Lee Kun-hee, has been appointed an outside director of China’s state-run investment firm CITIC Group. The Samsung heiress accept...
CJ vice chairwoman to take a back seat

IndustryJan 8, 2015

Lee Mie-kyung. (Illustration by Park Gee-young) CJ Group’s No. 2 Lee Mie-kyung will take a back seat when the conglomerate carries out executive reshuffles next month, sources said Wednesday. The s...
Estee Lauder sharply raises duty-free prices

IndustryJan 6, 2015

Global cosmetics and fashion player Estee Lauder Group increased the prices of its duty-free products by as much as 14.5 percent, company officials said Tuesday. The price hike affected the group’s ...
DSME beats Hyundai Heavy in shipbuilding performance

IndustryJan 5, 2015

Maersk’s Triple E-class container vessel sits moored under construction at the DSME shipyard in Geoje, South Gyeongsang Province. (Bloomberg) Daewoo Shipbuilding & Marine Engineering, the nation’s s...
Credit card spending expected to exceed W700tr this year

Jan 5, 2015

Korea’s credit card spending is expected to post a record high of 700 trillion won ($632 billion) this year, data showed Sunday. Despite the expected spending increase, card issuers are likely to ek...
Banks pressed to regain trust

Dec 31, 2014

The coming year is shaping up to be a challenging one for South Korean financial institutions, which face a series of penalties for loan and accounting fraud, as well as pressure to find new business...
FSC gives nod to KB’s acquisition of LIG Insurance

Dec 25, 2014

The Financial Services Commission on Wednesday approved KB Financial Group’s acquisition of LIG Insurance, six months after the group embarked on plans to beef up its nonbanking business segments. B...
IBK to expand investment in fintech

Dec 23, 2014

Industrial Bank of Korea CEO Kwon Seon-joo on Tuesday said the bank would provide increased support for local fintech startups and upgrade its mobile banking applications to offer total solution fina...
NongHyup to focus on asset management

Dec 22, 2014

NongHyup Financial Group, the nation’s fourth-largest financial holding company by assets, has vowed to focus on asset management as its new growth engine. As part of these efforts, the group’s chai...
KB Financial poised to reshuffle execs

Dec 16, 2014

KB Financial Group chairman and Kookmin Bank CEO Yoon Jong-gyoo is expected to carry out a major reshuffle prior to the financial regulator’s approval of the group’s LIG acquisition, industry sources...
More leaks found in Lotte World Mall

IndustryDec 12, 2014

More water leaks were found at Lotte World Mall on Thursday, further raising safety concerns about the new mega shopping complex in Jamsil, Seoul. Local reports said water was leaking from the ceili...
Korea, Cambodia team up to tackle deforestation

IndustryDec 11, 2014

The Korea Forest Service on Wednesday signed a memorandum of understanding with Cambodia to prevent deforestation and degradation in the Southeast Asian country, government officials said Thursday. ...
Talent Cosmetics attains halal certification

IndustryDec 10, 2014

Talent Cosmetics became the first Korean cosmetics brand to receive the Malaysian government’s halal certification, company officials said on Wednesday. The certification ― issued by the Department ...
Korea steps up cigarette smuggling crackdown

IndustryDec 9, 2014

The Korea Customs Service is to reinforce the monitoring of tobacco smuggling on concerns about the burgeoning trade of duty-free cigarettes in the domestic market following an announced price hike. ...
Daewoong Pharm signs investment deal with Osong BioValley

IndustryDec 7, 2014

Dawoong Pharmaceutical president Lee Jong-wook (second from left) and North Chungcheong Province Gov. Lee Si-jong (second from right) pose after signing an investment deal during the Herald Creative ...