Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul Metro to seek legal action against malicious complaints
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Illit, mired in controversy, remains on Billboard charts for 5th week
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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S. Korean cosmetics firm Innisfree taps Australia
Innisfree Corp., a subsidiary of South Korean cosmetics giant AmorePacific Group, said Saturday it has opened its first outlet in Australia as local cosmetics firms move to diversify their sources of income after being hit hard by China over a missile defense system row last year.The launch of the new store, which opened at a shopping complex in Melbourne on Friday, raises the number of overseas countries with Innisfree outlets to 12, including China, Thailand and the United States, it said.Lane
IndustryJune 9, 2018
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Retail fuel prices in S. Korea up for 7th straight week
Retail fuel prices in South Korea rose for the seventh consecutive week despite a fall in global crude oil prices, data showed Saturday.The average gasoline price was 1,609.7 won (US$1.49) per liter nationwide in the first week of this month, edging up 4.7 won from a week earlier, according to the data compiled by the state-run Korea National Oil Corp. (KNOC).The figure is the highest price tallied since 1,620.0 won per liter recorded in December 2014, it said.The average diesel price also climb
IndustryJune 9, 2018
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Korean Air to host annual IATA meeting in Seoul next year
Korean Air will host an annual meeting of air carriers around the world next year in Seoul, to discuss the future of commercial aviation industry and pending safety issues.The International Air Transport Association is the world’s largest organization for air carriers. It holds a general meeting every year, bringing executives from air carriers, aircraft manufacturers and related industries from all around the world. Named a host of IATA’s general assembly, Korean Air hopes to upgrade the global
TechnologyJune 8, 2018
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Kakao Bank to launch chatbot to upgrade unmanned customer service
Kakao Bank, South Korea’s largest internet-only bank, on Friday showcased a beta version of a customer service chatbot it expects to play a crucial role in enhancing its unmanned operation. The service will officially launch this month, the company said, without elaborating.The launch is expected to relieve the burden of existing customer services, for which 80 percent of customer inquiries were simple issues that could be addressed by the system, according to the bank. Veronica Lee, proje
MarketJune 8, 2018
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[Weekender] Corporate action key to fighting plastic binge
South Korea is facing increasing pressure to reduce or recycle its own plastic waste, particularly since China’s plastic import ban that took effect in January this year.While some countries like the United Kingdom have embarked on state-led measures in a joint effort with local business sectors to ditch plastic, similar measures in Korea face criticism for their lack of binding force and sustainability.In a speech to mark Environment Day on June 5, Prime Minister Lee Nak-yon echoed a need to in
IndustryJune 8, 2018
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[Weekender] A day without plastic -- No one cares
I remember how much my mother cherished the Tupperware plastic containers she bought from Namdaemun market in late 1980s. Plastic bowls made in US was a revolutionary item for many South Korean housewives and a symbol of modern life. Probably brought by US army personnel and then sold to merchants in markets in Seoul, the Tupperware series always made my mother proud, as they kept food freshly sealed and were safe even if her playful kids threw them around. But not many could afford the American
IndustryJune 8, 2018
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Seoul stocks slump ahead of G-7 summit
South Korean stocks closed lower Friday to end a five-day winning streak as investors tried to lock in profits from recent gains, amid lingering trade concerns ahead of a Group of Seven meeting, analysts said. The Korean won weakened against the US dollar.The benchmark Korea Composite Stock Price Index sank 19 points, or 0.77 percent, to close at 2,451.58. Trade volume was relatively heavy at 510.91 million shares worth 7.19 trillion won ($6.69 billion), with losers outnumbering winners 553 to 2
MarketJune 8, 2018
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Samsung ramps up AI R&D overseas
South Korean tech titan Samsung Electronics is accelerating its research and development efforts on artificial intelligence capabilities abroad by hiring renowned experts and top talents, according to the industry on Friday. At three newly opened AI centers in Toronto, Cambridge, England, and Moscow last month, efforts are being made to secure top talents from the AI field to help lead the centers. In Toronto, the new center led by Larry Heck, senior vice president of Samsung Research America, i
TechnologyJune 8, 2018
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[Weekender] Plastics may be on your plate
A war has begun worldwide on plastics.For decades, polymers have been used to make human lives easy and more hygienic, but with single-use plastic items being blamed for killing species on the ocean and threatening ecosystems, global initiatives have been launched since last year by the United Nations to curb their use. But South Korea, one of the biggest producers and consumers of plastics in the world, has taken a little interest in curbing plastic pollution. Leaders have been pointing out a l
IndustryJune 8, 2018
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[Herald Interview] Bridging Seoul and London, with a British touch
It all started from a mere curiosity of Korea and its complex but unfortunate history. In the eyes of Sean Blakeley, CEO of the British Chamber of Commerce in Korea, the nation’s dynamic transition from a war-torn country to information technology powerhouse has always been a fascinating subject. The personal interest pushed him to learn more about diverse aspects of the country. But he couldn’t know that he would become a man bridging the two countries in terms of business and trade.“I found Ko
IndustryJune 8, 2018
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Korean chipmakers urged to secure competitiveness in non-memory chips
The South Korean minister of industry and commerce urged Korean chipmakers Friday to secure global competitiveness in non-memory chip to widen technology gap from Chinese competitors.Paik Un-gyu, the Korean Minister of Trade, Industry and Energy“It is very important for Korean companies to secure global competitiveness in non-memory chips,” said Paik Un-gyu, the Korean Minister of Trade, Industry and Energy, adding that non-memory chips are the basis of advanced technologies powered by artificia
IndustryJune 8, 2018
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Finance minister calls for corporate support in job creation, innovative growth
HANAM -- South Korea's top economic policymaker on Friday asked companies to do more to create jobs and spearhead innovative growth in the latest appeal to the business community to join the government's efforts to push for a more balanced and sustainable economy.In a meeting with Shinsegae Vice Chairman Chung Yong-jin and top executives of affiliates of the business group in Hanam, just southeast of Seoul, Finance Minister Kim Dong-yeon stressed the importance of cooperation between the private
EconomyJune 8, 2018
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S. Korean nuclear operator turns outward to foreign markets
South Korea‘s state-run nuclear operator will shift its focus to new markets abroad by providing comprehensive energy solutions to create a new business model amid a nuclear phase-out plan at home, it chief has said.Chung Jae-hoon, the CEO of the Korea Hydro & Nuclear Power Co., said every effort is being made to search for opportunities in “strategic markets,” including Czech Republic, Slovakia, Poland and the Philippines.“We will knock on any door, seeking whatever benefits we can get,” Chung
IndustryJune 8, 2018
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Seoul seeks drastic deregulation for innovative growth
South Korea will seek drastic deregulation and provide support to foster innovative growth, the country‘s finance ministry said Friday.Under a set of support measures unveiled earlier, the government will provide funding and other incentives to eight key sectors such as smart farms, smart cities, financial technology, drones and electric vehicles and artificial intelligence.“The government will accelerate its move toward easing regulations for innovative growth ... and will fully support innovat
IndustryJune 8, 2018
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[Busan Motor Show] GM Korea seeks turnaround next year
BUSAN -- GM Korea, the local unit of the US auto giant, said Thursday it expects to make a turnaround next year on newly launched cars centered on sport utility vehicles.“I’m confident to say that we have landed on significant agreement with all our stakeholders that enables us to move forward. I’d like to think that we can try to get to profitability as soon as next year,” GM Korea chief Kaher Kazem said during a meeting with reporters at the Busan motor show. GM Korea CEO Kaher Kazem answers q
MobilityJune 8, 2018
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Foreign entry on list of Posco CEO candidates
Amid concerns over the political neutrality of the nation’s largest steelmaker, Posco held a council meeting earlier this week to pick a new CEO, officials said Thursday.The council has identified eight candidates from recommendations of around 30 institutional investors with ownership of more than 0.5 percent of shares and seven recruitment agencies. The list includes one non-Korean candidate. The eight candidates will be screened along with 10 candidates who currently work at Posco. The counci
IndustryJune 7, 2018
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[Busan Motor Show] Benz premieres E 300 e, Audi vows to revive sales
BUSAN -- Major imported car makers are showcasing their green car lineups and future eco-friendly vehicle plans at the ninth Busan International Motor Show that opens this week, aiming at the steadily growing local market.Highlighting the event was the world premiere by Mercedes-Benz Korea, which unveiled the plug-in hybrid version of its top selling 10th generation E-class, named the new E 300 e.The automaker also revealed the concept EQA, the first compact-sized electric vehicle under the EQ E
MobilityJune 7, 2018
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[Busan Motor Show] Hyundai debuts second design concept car
BUSAN -- Hyundai Motor, South Korea’s leading automaker, unveiled for the first time its second design concept car, dubbed HDC-2 Grandmaster Concept, at the Busan International Motor Show opening this week, and introduced details for the high performance N brand.Portraying the direction of Hyundai’s future design strategy, the second design concept that takes the form of a sport utility vehicle is aimed to display “sensuous sportiness,” the automaker said.The unveiling took place on Thursday, a
MobilityJune 7, 2018
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[From the Scene] KT SAT aims to connect flights, ships around the world
GEUMSAM, South Chungcheong Province -- On a vast landmass of around 61,000 square meters in Geumsan County in South Chungcheong Province, a total of 45 satellite antennas have been erected to communicate with five KT SAT-owned satellites revolving in an orbit. These antennas are there to enable 510 vessels in waters and 333 aircraft flying over the sky to stay connected with onshore areas, providing secured communications and remote management and control of the ships and flights. Established in
TechnologyJune 7, 2018
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Finance minister vows actions for income inequality, tones down on wage
Deputy Prime Minister and Finance Minister Kim Dong-yeon on Thursday vowed assertive fiscal measures regarding the nation‘s widening income disparity, extending his concerns for the Moon Jae-in administration’s income-led growth initiative. The top economic policymaker, however, toned down on his disapproval of the nation‘s fast-paced legal minimum wage hike plan, which he regarded as a hindrance to employment and income distribution.“The decline in earnings in low-income
EconomyJune 7, 2018