[Herald Interview] Seegene to launch single-platform disease detection in 2017, CEO says

South Korean biotech company Seegene plans to make an aggressive push into the US and European markets by launching hundreds of molecular diagnostic assays enabling early detection of various diseases from flu to cancer on a singl...

Korea’s auto exports set to shrink for 2nd year

South Korea’s outbound shipments of automobiles, one of the country’s top exports, are set to decline for two consecutive years this year, handing over the world’s third-largest auto exporter title to Mexico, government data sh...

Uncertainties add to urgency of decision on finance minister

South Korea urgently needs to decide who will be the nation’s top economic policymaker to deal with growing uncertainties and prop up the faltering economy, experts said Sunday.The parliament’s impeachment of President Park Geun...

Chaebol in contingency mode amid state power vacuum

South Korea’s leading conglomerates over the weekend prepared to go into contingency mode after the country’s parliament passed a bill to impeach its president Friday. Major businesses are planning to postpone or execute in a co...

Suspicions persist over process of Samsung BioLogics’ public listing

Samsung BioLogics, a contract manufacturer of biologic drugs under the Samsung Group, is facing persisting suspicions that it received preferential treatment in obtaining regulatory approval for a public listing on South Korea’s ...

AXA Korea aims to grow as general direct insurer beyond cars

After positioning itself as the first direct car insurer, AXA Direct Korea will grow into a direct general accident insurer with an aim to acquire 1 million customers by 2022, its CEO Francois Lecomte said. “We are mostly a motor...

Samsung's Note 7 return rate tops 80% in Korea

Samsung Electronics Co. said Sunday it has retrieved over 80 percent of Galaxy Note 7 smartphones sold in South Korea, about three months after it conducted a global recall of the smartphones over a safety risk. Samsung started s...

Impeachment vote to have limited impact on economy, markets: finance minister

South Korea's chief economic policymaker said Sunday that the impeachment of the country's president will have a limited impact on the economy, as well as the financial markets, vowing to implement current economic policies in a c...

US beef imports soar 47% on cheaper price

(Yonhap)The volume of imported beef from the US hiked 47 percent on-year, between January and October this year, poised to take over the Korean market due to its cheaper selling price, government data showed Sunday.According to da...

[Monitor] Housing costs keep employed youths at home

South Korea’s rising house prices discourage millennials from setting out on their own even after they land jobs, a survey showed Sunday.According to a survey by Job Korea, 52 percent said they lived with parents due to expensive...

Fixed-rate bank loans on rise ahead of US Fed rate hike

Borrowers are scurrying to shift to fixed rate bank loans amid growing speculation that the country's interest rates would rise in tandem with a much-expected rate hike in the United States, with the portion of fixed-rate loans to...

Hyundai Heavy inks $700 million deal with Iranian firm

Hyundai Heavy Industries Co., a major shipyard in South Korea, said Sunday it has sealed a $700 million deal to build 10 vessels for an Iranian firm.Under deal with Islamic Republic of Iran Shipping Lines, Hyundai Heavy will build...

Samsung head's stock value jumps 29% this year

The head of Samsung Electronics Co. saw the value of his stock holdings surpass 14 trillion won ($12 billion), rising by 29 percent this year, as the flagship unit of the country's top conglomerate Samsung has continued to rally, ...

S. Korea's auto exports may dip for 2nd year

South Korea's auto exports are widely expected to decline for the second consecutive year in 2016, affected by a production disruption caused by a string of labor disputes at major automakers and a protracted slump in the global e...

Yoo assures foreign investors economic team will remain vigilant

Finance Minister Yoo Il-ho on Friday convened a meeting of economy-related ministers upon the National Assembly’s impeachment of President Park Geun-hye and vowed to mobilize a combined emergency team for the economy.Yoo, who als...