Most Popular
-
1
Jimin of BTS, actor Song Da-eun suspected to be dating, again
-
2
What's next for the government's push in quota hike?
-
3
Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
-
4
Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
-
5
‘Malice should not undermine the system, social order,’ says Hybe's Bang
-
6
N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
-
7
[Robert J. Fouser] Social attitudes toward language proficiency
-
8
N. Korea fires short-range ballistic missiles toward East Sea: JCS
-
9
[Graphic News] How much do Korean adults read?
-
10
N. Korea says it test-fired tactical ballistic missile with new guidance technology
-
Inter-affiliate trading up despite tough regulation: FTC
Trading between companies affiliated with South Korea's large business groups has been on a steady rise despite tough regulations, the country's corporate watchdog said Monday.Under the current regulations, which were revised in 2014, inter-affiliate trading within a business group whose owner and family hold 30 percent or more of listed affiliates is banned. For unlisted subsidiaries, the limit is 20 percent.Such trading is blamed for allowing owner families to easily net large profits by havin
IndustryJune 25, 2018
-
S. Korea's economy expected to grow 3% in 2018: KIET
South Korea's economy is expected to expand 3 percent this year as increased domestic consumption and government spending will offset sluggish exports and investment, a local think tank said Monday.The Korea Institute for Industrial Economics & Trade projected South Korea's gross domestic product will post solid growth in 2018, although slightly below the 3.1 percent increase in 2017.The growth rate was the same as outlook by the Bank of Korea, the International Monetary Fund and the Organizatio
IndustryJune 25, 2018
-
Duty-free war intensifies with Shinsegae winning license at Incheon Airport
With South Korean retail giant Shinsegae obtaining two licenses to operate duty-free stores at Incheon Airport’s Terminal 1, competition between fast-growing travel retailers is expected to intensify, industry experts said Monday. Shinsegae’s duty-free store in Incheon Airport. (Shinsegae DF)Shingsegae DF Global -- the third-largest duty-free operator following Lotte and Shilla in terms of market share -- was picked as the sole operator for two duty-free zones Friday. The areas were vacated by L
IndustryJune 25, 2018
-
Electronic payments in S. Korea rally in Q1
The amount of payments made electronically in South Korea continued to rally in the first quarter of this year as a growing number of people are using mobile shopping and remittance services, central bank data showed Monday.The daily average amount of electronic financial transactions came to a record 581.53 billion won ($521.6 million) in the January-March period, up 13.2 percent from a quarter earlier, according to the data from the Bank of Korea.The quarterly figure has broken records over th
EconomyJune 25, 2018
-
South Korea to invest W2.6tr in fuel cell vehicles
The South Korean government and businesses agreed to invest some 2.6 trillion won ($2.33 billion) over the next five years to speed up the country’s hydrogen gas-powered vehicle industrial ecosystem, the Trade Ministry said Monday.Aiming to gain an upper hand in the prospective global fuel cell vehicle market, the 2.6 trillion won will be spent on building plants for fuel cell vehicles and fuel cell stacks, manufacturing fuel cell buses and developing fuel cell storage containers.In doing so, th
MobilityJune 25, 2018
-
Nearly 60% of S. Korean manufacturers expect 4th industrial revolution to hurt jobs
Nearly six out of 10 South Korean manufacturing companies forecast that the upcoming fourth industrial revolution will weigh heavily on employment, especially in labor-intensive sectors, a survey said Monday.According to the poll of 272 manufacturers conducted by the Bank of Korea, 59 percent said the fourth industrial revolution will lead to a decrease in employment, while 15.4 percent said it would lead to a rise in new jobs.By sector, 71.4 percent of petrochemical and oil refinery firms gave
IndustryJune 25, 2018
-
KT unveils emergency platform using drones
KT Corp., South Korea's second-largest mobile carrier, on Monday unveiled an emergency network service platform that features unmanned drones for search and rescue operations.Skyship, co-developed by local drone maker Metismake Inc., features a helium-powered airship and a high-resolution camera that can scan for mobile signals of people in need of rescue.The airship, which can scan for LTE or high-end fifth-generation signals, can determine a person's position to within 50 meters before sending
TechnologyJune 25, 2018
-
SsangYong’s Tivoli compact SUV remains trendy with customized edition
Key to retaining popularity in the fast-changing South Korean market is introducing customized editions, according to SsangYong Motor, the South Korean unit of Indian carmaker Mahindra & Mahindra.Competing in the compact sport utility vehicle segment, the carmaker’s top-selling Tivoli SUV launched in January 2015 is credited for igniting demand for compact SUVs here.In the first year of its launch, 45,021 Tivoli SUVs were sold and stood for more than half of 82,308 compact SUVs sold here in the
MobilityJune 25, 2018
-
Biopharma industry seeks leniency in Korea’s '52-hour workweek' policy
South Korea’s biopharmaceutical industry is seeking leniency in implementing the country’s revised labor law that mandates companies with 300 or more employees to reduce maximum weekly work hours to 52 hours per week, from the current 68 hours.As the law is set to take effect from July 1, with a six-month grace period, Korea’s big biopharma companies are hoping to work around the new limit by asking the government to permit wider leniency in introducing flexible work hours for the industry, whos
IndustryJune 25, 2018
-
S. Korean fast-food chain Lotteria opens in Mongolia
South Korean retail giant Lotte's fast-food chain, Lotteria, opened its first Mongolian store in the country's capital city of Ulaanbaatar last week, its operator said Monday, as the company moves to expand its presence in the global market.The launch of the new store came after Lotte GRS Co. signed a franchise agreement with cinema equipment supplier Eugenetek Mongolia LLC in September last year.Lotte GRS said it plans to operate up to 10 Lotteria outlets in Mongolia by 2022. The operator of So
IndustryJune 25, 2018
-
S. Korea shares tourism policy with developing countries
South Korea kicked off a forum Monday to share its tourism policy with developing countries as part of its efforts to help them nurture experts in the field, the government said.Tourism officials from nine countries -- Cambodia, Indonesia, Laos, Mongolia, Myanmar, Sri Lanka, Vietnam, Uzbekistan and Peru -- are participating in the three-day forum on tourism development, according to the Ministry of Culture, Sports and Tourism.In this file photo, taken April 30, 2018, foreign tourists dressed in
IndustryJune 25, 2018
-
Bills on P2P lending, cryptocurrency still pending in National Assembly
Lawmakers have proposed bills to regulate peer-to-peer lending and cryptocurrencies, but the bills have gained little momentum in the National Assembly, industry watchers said Monday.Rep. Min Byung-doo of the ruling Democratic Party and Rep. Kim Su-min of the minor opposition Bareunmirae Party filed two separate bills to regulate P2P lending firms in July last year and in February, respectively.With the bills still pending in the National Assembly, financial authorities have been struggling to t
MarketJune 25, 2018
-
Indoor smoking lounges to be closed at airports
Indoor smoking lounges at airports will gradually be shut down and outdoor smoking areas will be relocated further away from zones with passenger traffic, authorities said Monday.Smoking areas will be rearranged at the country's 14 airports nationwide to reflect the changing social perception of smoking and second-hand smoke, according to the Korea Airports Corporation.(Yonhap)Gimpo International Airport in Seoul will close the two indoor smoking lounges at its domestic terminal and renovate the
IndustryJune 25, 2018
-
[Eyes On] Posco’s chief-designate to foster nonsteel business
In hopes of ending weeks of questions on its political neutrality, Posco over the weekend selected Posco Chemtech CEO Choi Jeong-woo to lead the country’s largest steelmaker, which is currently facing a myriad of challenges while attempting to diversify new growth engines. Choi’s nomination is widely seen as a move to eliminate speculation that preceding Chairman Kwon Oh-joon had exerted influence in the selection process, while underscoring the company’s drive to bolster its non-steel businesse
IndustryJune 24, 2018
-
[Graphic News] S. Korean auto brands beat Japanese, German rivals in US quality ranking
Three South Korean vehicle brands, all belonging to Hyundai Motor Group, surpassed their Japanese and German rivals in a United States quality ranking. Hyundai luxury brand Genesis, Kia and Hyundai ranked first, second and third, respectively, in the J.D. Power 2018 US Initial Quality Study, for the fewest glitches and design flaws per 100 new vehicles. J.D. Power said Genesis ranked highest in overall initial quality with a score of 68 problems per 100 cars. Kia (72) ranked second and Hyunda
MobilityJune 24, 2018
-
Popular Korean mask brand Mediheal enters Europe’s offline market
Global mask brand Mediheal is entering the European market by opening a branch at a premium department store Selfridges in London, following their popularity in China, the company said last week. Mediheal made by L&P Cosmetic has been seeing increased in sales of their “Flowater Hydro Gel Mask” and three other products sold at Selfridges’ online channel in England.A total of seven products will start to be sold at their offline store. Selfridges, an upscale retailer was founded in 1909 by an Ame
IndustryJune 24, 2018
-
Burdened by child care, working mothers work less than fathers
Working mothers in South Korea work fewer hours than fathers on average, the latest government data showed, a phenomenon that carries deeper patriarchal significance of role imbalance at home.Employed South Korean fathers work an average of 8.6 hours more than their female counterparts per week, according to the data from Statistics Korea last week.But experts say the figures only tell half the story, as many South Korean women are being held back from making career choices freely and compromise
EconomyJune 24, 2018
-
[IP in Korea] Fast-tracking process to protect Korea’s content business
The Korea Herald is publishing a series of interviews with experts in the intellectual property sector. This is the 18th installment. -- Ed. In an era where the cultural content industry has become a pivotal engine for growth, public awareness should evolve accordingly to perceive copyright infringement of creative work as a serious hurdle to technological innovation and sustainable revenue, according to a cultural content policy expert here.“When it comes to copyright protection, South Korea is
IndustryJune 24, 2018
-
Woori Bank secures Korea's largest offshore branch network on takeover in Cambodia
Woori Bank has acquired Cambodia’s microfinance institution VisionFund Cambodia, becoming a South Korean financial company with the largest offshore retail branch network. Through the acquisition, the Cambodian entity with $196 million total asset as of end-2017 earned the new name of WB Finance, according to Woori Bank Sunday. The institution with 106 branches across the nation will play the role in microfinance deposit-taking, according to a Woori Bank spokesperson. As a resul
MarketJune 24, 2018
-
[Kosdaq Star] Genie Music garners investor attention on anticipated M&A
This is the 57th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- Ed. Genie Music Corporation, South Korea‘s second-largest music streaming and downloading platform operator by monthly active users, is gaining investor attention on anticipation that it will shake up the local industry through a forthcoming acquisition deal. On Friday, Genie Music’s market cap in market‘s close came to 337.5 billion won ($303.4 million), the 153rd-larg
MarketJune 24, 2018