Most Popular
-
1
Court refuses injunction on medical school expansion
-
2
Why Korean crime stories typically feature nameless, faceless perpetrators
-
3
Debate on 'no-seniors zones' heats up
-
4
Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
-
5
S. Korea, Cambodia forge strategic partnership
-
6
Is NewJeans headed for a long 'break'?
-
7
[KH Explains] Hyundai-backed Motional’s struggles deepen as Tesla eyes August robotaxi debut
-
8
Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
-
9
Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
-
10
New Seoul High Prosecutors’ Office chief vows full-fledged probe into first lady
-
US-China trade dispute will have limited impact on Korea: study
The escalating trade dispute between the United States and China is expected to affect South Korea's exports to the world's two largest economies, but only to a limited extent, a study showed Thursday. The US has threatened to impose a 25 percent tariff on up to $50 billion of 1,102 Chinese goods in response to alleged intellectual property theft, with the initial tariffs worth $34 billion set to go into effect on July 6. China said it will impose 25 percent tariffs on 659 US goods worth $50 bil
EconomyJune 21, 2018
-
Samsung SDI launches new high-voltage home ESS battery module
South Korea’s leading battery maker Samsung SDI unveiled its newest high-voltage home energy storage system battery module at a tradeshow in Germany, vowing to accelerate its penetration into the growing home ESS market, the company said Thursday. The latest residential ESS battery module revealed at the Electrical Energy Storage Europe 2018 in Munich features doubled energy density from last year’s products through the use of newly applied cell and module design technologies. A visitor takes a
TechnologyJune 21, 2018
-
KT provides AI solutions for Ambassador Hotel Group
South Korea’s KT will provide its artificial intelligence solutions for Ambassador Hotel Group, helping the global hotel chain to provide AI-based services, the company said Thursday. The Korean mobile carrier and the hotel group signed a memorandum of understanding to cooperate on building hotels with AI services in the country, starting with Novotel Ambassador Seoul Dongdaemun & Residences that is slated for opening in July. Under the memorandum, the two companies are planning to connect the h
TechnologyJune 21, 2018
-
Hyundai, Kia sweep top 3 spots in US initial quality study
Affiliates of South Korea’s No. 1 automaker Hyundai Motor Group swept the top three positions in an initial quality study conducted by the US institute J.D. Power, outstripping German and Japanese rivals, the auto group said Thursday. , Genesis ranked highest in overall initial quality with a score of 68, followed by Kia in second place with 72 and Hyundai in third place with 74. The industry average was 93 this year. Initial quality is measured by the number of problems experienced per 100 vehi
MobilityJune 21, 2018
-
[Herald Interview] Taking global Starbucks phenomenon to next level
For Major Cohen, coffee changed his life as he approached mid-age.“I began working as a part-time barista in 1995, for a team that was opening a new store in Boston. It was when I was 45 years old,” Cohen told The Korea Herald at a Starbucks Korea’s The Jongno branch in downtown Seoul. At 1,097 square-meters, it is the biggest Starbucks store in Korea and was designed to do much more than simply serve coffee. Starbucks’ global ambassador Major Cohen speaks during an interview with The Korea Her
IndustryJune 21, 2018
-
Court grants arrests of ex-Samsung Securities employees for selling bogus shares
Three former Samsung Securities employees were arrested on Thursday for selling unauthorized shares mistakenly given to them as dividends in April.The Seoul Nambu District Court approved the arrest warrants sought for three of the four former employees by the prosecution, citing risk of flight and/or evidence tempering. The court said one of the four did not require to be placed under arrest as the person did not appear to have actively participated in the wrongdoing.The former employees face ch
MarketJune 21, 2018
-
L'Oreal completes acquisition of Korean online retailer Nanda
French cosmetics giant L'Oreal said Thursday it has completed the acquisition of one of South Korea's leading online retailers amid a rise in the global popularity of K-pop and Korean beauty items.Last month, L'Oreal announced it will wholly purchase the makeup and fashion company Nanda Co., marking the French firm's first takeover of a Korean firm. The transaction price was not disclosed."After obtaining the necessary authorizations from the relevant authorities, L'Oreal has finalized the acqui
IndustryJune 21, 2018
-
Big firms encourage employees to use annual paid leave
Major South Korean companies have encouraged their employees to take their annual leave, a survey showed Thursday, as the country pushes its people to better strive for work-life balance.The survey of 155 major South Korean firms released by the Korea Economic Research Institute, a private think tank, found that 52.3 percent of the companies polled said annual leave was the best implemented of 10 proposals drawn up by the government in 2016 to help people strike a balance between work and life,
EconomyJune 21, 2018
-
Samsung BioLogics earns first manufacturing approval from Health Canada
South Korean contract drug manufacturer Samsung BioLogics said Thursday that it has obtained its first-ever manufacturing approval from Canada’s drug regulators for a biologic product produced at its first plant in Songdo, Incheon.With the addition, the company has now earned 14 manufacturing approvals from the world’s top drug regulators -- the US Food and Drug Administration, the European Medicines Agency, Japan’s Pharmaceuticals and Medical Devices Agency and now Health Canada.Eleven of the a
IndustryJune 21, 2018
-
Corporate watchdog chief vows to step up self-reform efforts
The chief of South Korea's corporate watchdog said Thursday that his agency will redouble its efforts to regain the trust of citizens amid the prosecution's probe into alleged job irregularities involving former senior officials.On Wednesday, investigators raided the offices of the Fair Trade Commission as part of an investigation into allegations that former senior officials of the anti-trust watchdog landed jobs they were not supposed to after retirement.Investigators from the Seoul Central Pr
MarketJune 21, 2018
-
Geopolitical risks persist on Korean Peninsula: Moody‘s
Global credit rating agency Moody‘s Investors Service said Wednesday that uncertainty related to the geopolitical risks on the Korean Peninsula persists even after the recent series of summits and peace mood concerning North Korea.“The key constraining factor restriction to South Korea’s credit rating is its geopolitical risk,” Christian de Guzman, vice president and senior credit officer at Moody’s, said in a press conference held in Seoul.“The fact that the
MarketJune 20, 2018
-
Hyundai Motor partners with Audi to boost fuel cell electric vehicles
South Korea’s leading automaker Hyundai Motor Group said Wednesday it has formed a strategic partnership with Germany’s Audi of Volkswagen Group, in a bid to boost an emerging market for fuel cell electric vehicles worldwide. The two announced a multiyear patent cross-licensing agreement, covering a broad range of FCEVs components and technologies, with an ultimate goal of developing FCEVs together, according to the announcement. The partnership between the first producer of hydrogen-powered veh
TechnologyJune 20, 2018
-
S. Korea’s macroeconomic policy had effect on growth: OECD report
South Korea’s notable economic advancement over recent years was largely attributable to its conglomerate-led and export-oriented growth model, backed by sound fiscal and monetary policies and intense investment into physical and human capital, according to an international report.Asia’s fourth-largest economy, however, has also exposed some chronic structural weaknesses such as market monopolization by conglomerates, discrimination in the job market, and elderly poverty. In a b
EconomyJune 20, 2018
-
Asiana Airlines runs outreach program targeting women in Vietnam
Asiana Airlines said Tuesday it has opened a fourth employment training course targeting women in Vietnam, which will take place over the next six months. Asiana Airlines Managing Director Cho Young-suk (sixth from left) and the Embassy of Korea in Vietnam’s Consul General Lee Mi-yeon (seventh from left) pose for a photo in Hanoi, Vietnam, Wednesday. Asiana AirlinesSince 2015, the South Korean airline has been providing job training sessions for Vietnamese women in the low-income bracket. The p
IndustryJune 20, 2018
-
P&G Korea inks MOU to improve medical environment for young patients
Proctor and Gamble Korea said Wednesday that it has signed a memorandum of understanding with Seoul Child Hospital and Kids & Future Foundation to improve Korea’s medical services for children. P&G Korea’s public affairs leader Park Lincoln (left), Seoul Child Hospital Director Kim Jae-bok (center) and Kids & Future Foundation Director Park Doo-joon pose for a photo after signing a memorandum Wednesday. P&G Korea“Through the memorandum, P&G will continue to put in effort to improve treatment an
IndustryJune 20, 2018
-
Korean market grows for online, mobile games
South Korea was the world’s third-largest market for online video games and the fourth-largest for mobile games last year, according to data provided by market research firm Euromonitor International on Wednesday.Korea’s online video game market was valued at $1.69 billion in 2017, marking an on-year growth of 23.2 percent. The country’s mobile game market was valued at $2.34 billion in the same year, up 36 percent from the previous year.China ($11.9 billion) and the US ($2.24 billion) were the
TechnologyJune 20, 2018
-
KAIST to host forum in Seoul discussing AI ethics, policymaking
KAIST, South Korea’s leading science and technology research university, will host a forum in Seoul on Thursday to discuss the ethics of artificial intelligence technology development as well as policymaking around the world. Titled “Taming Artificial Intelligence: Engineering, Ethics and Policy,” the forum will invite some of the world’s leading AI researchers, including those who recently made headlines for announcing a boycott of KAIST over its alleged contribution to developing autonomous “k
TechnologyJune 20, 2018
-
Concerns rising over industrial hollowing-out
Concerns are growing over the possible hollowing-out of Korea’s key manufacturing industries as local companies rush to move factories to countries with better conditions to detour anti-business policies at home and global trade friction.According to industrial sources, 97.1 percent of TV sets made by Korean electronics firms in 2017 were manufactured at overseas plants. The corresponding figures reached 93.2 percent for mobile phones, 86.9 percent for washing machines and 80.3 percent for
EconomyJune 20, 2018
-
Bithumb freezes accounts after W35b of cryptocurrencies stolen
Bithumb, South Korea’s second-largest cryptocurrency exchange in trade volume, said Wednesday it would suspend transactions in user accounts after some 35 billion won ($31.6 million) worth of assets were stolen.The financial loss stemmed from “abnormal outside access” that occurred from Tuesday night until Wednesday morning, its spokesperson said. “(Bithumb) will suspend all money deposits or withdrawals, until we secure the stability of the service,” read the
MarketJune 20, 2018
-
Govt., carmakers to jointly respond to US auto tariff probe
South Korea's trade ministry said Wednesday it will work with local carmakers to respond to potential import restrictions by the United States, which has launched a probe into auto imports.Last month, the US Department of Commerce launched an investigation into possible tariffs on imported vehicles and auto parts, on national security grounds, under Section 232 of its trade law.The Ministry of Trade, Industry and Energy held a meeting with major automakers, including Hyundai Motor Co. and Kia Mo
IndustryJune 20, 2018