Most Popular
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Do Korean doctors make too much money?
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Korean industries gauge impact of Biden's steep tariffs on China
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Court refuses injunction on medical school expansion
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Why Korean crime stories typically feature nameless, faceless perpetrators
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Is FTC's conglomerate listing a boon or bane for Hybe?
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NewJeans to headline palace show
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Coupang's Kim Bom escapes chaebol chief designation again
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Debate on 'no-seniors zones' heats up
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Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
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S. Korea, Cambodia forge strategic partnership
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Banks on alert as govt. clamps down on mortgage loans
Local banks are on alert as the government tightens the screw on mortgage loans that has contributed to their profits, financial industry insiders said Monday.The Moon Jae-in administration took a series of steps since taking office in May to tame real estate speculation. It placed nearly all major cities under heavy watch for speculative transactions and limited available loans using homes as collateral while linking such loans more strictly to borrowers' ability to repay. The Moon government a
EconomyOct. 30, 2017
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South Koreans switch travel destination to Japan in record number
A record number of South Koreans traveled to Japan in the January-September period this year, data showed Monday, as favorable exchange rates and diplomatic tensions with Beijing moved their destination away from China. Over 5.21 million South Koreans visited Japan during the cited months, according to the Japan National Tourism Organization, up 40.3 percent from the same period a year ago. The number is a record for the months and the second highest after Chinese travelers to Japan, whose num
IndustryOct. 30, 2017
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China-sensitive stocks rebound amid signs of easing Korea-China relations
South Korea’s China-sensitive stocks are recently showing signs of rebounding, as diplomatic tensions intensified by the installment of an advanced US anti-missile system here appears to be gradually settling.Riding on the resumption of Chinese group tours and an improved bilateral relationship signaled by the extension of a currency swap are the automobile, cosmetics, duty-free shop and travel sectors. South Korean shares are expected to test the landmark 2,500 level this week, with the m
EconomyOct. 29, 2017
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[Graphic News] LG ranks No. 10 on World's Best Employers list
South Korean electronics giant LG Corp. took 10th place on the list of the World’s 500 Best Employers, according to a Forbes report. Google parent company Alphabet, with a workforce of around 72,000 employees, topped the list after its employees credited it with having excellent working conditions, diversity and company image. Microsoft ranked second, followed by Japan Exchange Group, Apple, and US-based oil and gas company Noble Energy. Eighteen Korean companies are also on the list, including
IndustryOct. 29, 2017
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[Advertorial] KT&G expands youth program for startups
South Korea’s tobacco maker KT&G recently launched a camp for young people looking to launch startups, providing them with consultation and education programs as part of the company’s youth support project.KT&G kick-started the “SangSang Startup Camp” on Oct. 16 with 45 participants, selected through a competitive application process, who will undergo 14 weeks of education including coaching from business mentors and introduction of business systems that they can use when starting their own busi
IndustryOct. 29, 2017
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[News Focus] Extending biobank ecosystem key to precision medicine drive
Korea’s biobank system has enjoyed some success in contributing to academic findings, but at a forum in Seoul last week, experts in the field argued the state-run Korea Biobank must move beyond its current research focus if South Korea is to play a lead role in fields such as precision medicine At the Korea Biobank Forum last week, they argued that administrators must provide more support to commercial operations in the biotech sector if the country is to make the most of the resource. Over th
TechnologyOct. 29, 2017
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[Kosdaq Star] ‘Black Desert’ developer Pearl Abyss goes uptrend after weak debut
This is the 44th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- EdIn its seven years of operation, Pearl Abyss has produced just one game -- “Black Desert Online” – but after a weak debut last month its shares have risen 30 percent. Debuting on Sept. 14 on the second-tier Kosdaq, the game developer, based in Anyang, Gyeonggi Province, has been on a tear in the market for the last two weeks. Pearl Abyss shares gained 28.7 percent the
MarketOct. 29, 2017
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[Monitor] High rate of young adults economically dependent in Korea
Nearly 57 percent of those aged between 20 and 34 remain economically dependent on their parents even after reaching adulthood, showed a report released during a conference held by the Korea Labor Institute.The report pointed out that these group tend to have a negative perception of society.Another report showed that among those aged 15-29, nearly 17 percent were not in employment, education or training.The ratio was 5 percentage points higher than the OECD average of 13.9 percent.The conferenc
EconomyOct. 29, 2017
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[Ask a Lawyer] Trade measures affecting business in Korea
Ask a Lawyer is a regular column written by attorneys at Yoon & Yang LLC on various legal aspects of the Korean life or business. The content provided here is general legal information, not legal advice on a specific situation. -- Ed.Q: What trade measures are there in Korea that directly affect businesses?Nowadays, domestic industries of many countries actively utilize trade measures, such as antidumping, countervailing and safeguard actions, in order to defeat imports and protect their own int
IndustryOct. 29, 2017
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[Herald Interview] Wadiz taps into investors' sympathetic motive
The Korea Herald is publishing a series of interviews on promising startups in the fintech industry. This is the 3rd installment. -- Ed. The culture of crowdfunding is belatedly, yet significantly permeating through venture startups in South Korea, as the number of patient investors begin to increase, looking for a sense of accomplishment beyond immediate profits. Behind the trend is Korea’s longest-standing crowdfunding platform Wadiz, whose chief executive says the link that had been missing -
TechnologyOct. 29, 2017
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Samsung hosts insider expo for growth with ‘disruptive technologies’
South Korean tech titan Samsung is fiercely seeking innovative growth in the absence of its de facto leader by holding a closed-door exhibition this week, according to sources on Sunday. At Samsung’s corporate campus in Giheung, Gyeonggi Province, the company is holding a three-day tech exhibition -- the Samsung Tech Fair -- from Monday through Wednesday, organized by Samsung Advanced Institute of Technology, according to sources.The annual fair is held every fall to provide executives and emplo
TechnologyOct. 29, 2017
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S-Oil helps celebrate 55 years of Saudi Arabia-South Korea ties
S-Oil joined last week’s events to mark the 55th anniversary of diplomatic ties between South Korea and Saudi Arabia and the direction of further cooperation, with a cultural event on the Han River on Saturday.Sponsored by S-Oil, the Embassy of the Kingdom of Saudi Arabia hosted the event at Chevit under the theme of “As-Salamu Alaikum,” meaning “peace be with you.” The event offered a taste of Saudi cuisine, costumes, henna tattoos, Arabic calligraphy and Arabic carpets, among other things. “Th
IndustryOct. 29, 2017
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Amorepacific’s Sulwhasoo, LG’s Whoo compete for top spot
Amorepacific and LG Household and Health Care are vying for the top spot in the herbal cosmetics segment, market data showed Sunday. According to data collected by the Korea Customs Services, sales of Amorepacific‘s Sulwhasoo and LG Household and Health Care’s the History of Whoo both passed 1 trillion won ($890 million) in the third quarter this year. (Yonhap)While Amorepacific highlights its Sulwhasoo was the first to exceed 1 trillion won in sales, LG underscores sales of Whoo at duty-free s
IndustryOct. 29, 2017
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[Video] Everland uses latest IT to make Halloween spookier
YONGIN, Gyeonggi Province -- If you still haven’t caught up with the virtual reality trend, Everland’s Halloween offerings could be a shock to the system.South Korea’s largest amusement park has been running since last month a horror zone filled with actors wearing zombie makeup and scary VR content to mark the Halloween season.Shot by Lim Jeong-yeo / Edited by Lim Jeong-yeo As visitors in VR goggles walk around the park’s 100,000-square-meter Blood City, they are immersed in a world of horror w
TechnologyOct. 29, 2017
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Samsung teams up with Lucasfilm for Star Wars-themed vacuum cleaners
Samsung Electronics Co. said Sunday it will release vacuum cleaners inspired by characters from "Star Wars" in cooperation with movie producer Lucasfilm Ltd.The South Korean tech giant said the new robot and wireless vacuum cleaners are modeled on characters from the movie series created by George Lucas. (Yonhap)The price tags on the Darth Vader- and Stromtrooper-themed PowerBot robot cleaners stand at 799,000 won and 699,000 won, respectively. The wireless cleaner PowerGun, shaped like a gun fr
IndustryOct. 29, 2017
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Air passenger traffic in S. Korea rises 4.7 pct in September
Air passenger traffic in South Korea rose in September as a rise in demand for routes to Japan, Southeast Asia and Europe offset the steep fall in Chinese travelers, government data showed Sunday. A total of 9.02 million passengers used international and domestic flights last month, up 4.7 percent from a year ago, the Ministry of Land, Infrastructure and Transportation said. An airplane departing from Incheon International Airport to Japan`s Osaka is full of passengers on Sept. 29, 2017, ahead
IndustryOct. 29, 2017
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Sales of packaged kimchi expected to grow 9.6 pct in 2017
Sales of packaged kimchi are expected to grow 9.6 percent in 2017 from a year earlier, on rising demand from single-member households, industry data showed Sunday. According to Daesang Co., a major ready-made kimchi producer, the domestic market for the product is expected to reach 1.39 trillion won ($1.22 billion) this year from 1.27 trillion won posted in 2016. (Yonhap)The demand for kimchi for home use, especially, is expected to jump 25 percent on-year to reach 366.3 billion won, the data sh
IndustryOct. 29, 2017
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[Weekender] Meet change-makers in corporate world
A picture of President Moon Jae-in kneeling to pay his respect to the dead during the May 18 Gwangju Democratization Movement ceremony went viral online this year. It became a talked about issue not just because the ceremony was held a week after the presidential election, but because of a pair of the president’s old shoes that were exposed to cameras. The shoes that Moon has worn since 2012 were made by a small social enterprise set up by the blind and the hearing-impaired. But even with Cheong
IndustryOct. 29, 2017
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Whirlpool may expand safeguard petition to vacuum cleaners: research
New research warned Sunday that Whirlpool Corp. may expand its safeguard petition against South Korean rivals to include vacuum cleaners. Acting on a petition submitted by Whirlpool, the US International Trade Commission determined earlier in October that imports of large residential washing machines built overseas by Samsung Electronics Co. and LG Electronics Inc. were damaging the local industry.A report published by the Korea Electronics Association said Whirlpool may request the US authoriti
IndustryOct. 29, 2017
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Samsung faces challenge from Xiaomi in Indian smartphone market
Samsung Electronics Co. retained the top spot in the Indian smartphone market in the third quarter but continues to face a strong challenge from China-based Xiaomi Inc., data showed Sunday.According to Strategy Analytics, Samsung accounted for 26 percent of the market in the July-September period, while Xiaomi took 25 percent. (Yonhap)Other Chinese firms came next, with Vivo Communication Technology Co, Oppo Electronics Corp., and Lenovo Group taking 10 percent, 9 percent, and 7 percent, respect
TechnologyOct. 29, 2017