Most Popular
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Top 4 conglomerates convene strategy meetings to navigate uncertainties
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[AtoZ into Korean Mind] Korea's broken ladder of social mobility
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Doctors to go on indefinite walkout as government rejects final demands
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Doctors begin indefinite strike
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Putin’s Pyongyang trip highlights need for bond in isolation
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[Graphic News] Son Heung-min named 10th-best forward
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Yoon returns amid tensions over Putin's Pyongyang visit
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[KH explains] Why Korean battery companies are key to Tesla's 2170 upgrade strategy
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No. of mosquitoes unusually high in June
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Korea to promote eco-friendly albums in K-pop industry
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Korean Air Line suffers losses in Q2
Korean Air Lines Co., South Korea's top airline, said Thursday that it suffered a loss in the second quarter on currency-related issues.The country's flag carrier logged a net loss of 200 billion won ($175 million) in the April-June period, the company said in a regulatory filing. But its operating income surged 8.5 percent on-year to reach 173 billion won, with sales also rising 3.1 percent to 2.9 trillion won over the cited period.In the first six months of the year, Korean Air posted an opera
IndustryAug. 10, 2017
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[Herald Interview] ‘Telcos seek big data tie-ups with Mobileye’
Korean telecom operators are seeking partnerships with Israeli automotive tech firm Mobileye to maximize their presence in the self-driving car industry by combining their fast network capacities with the company’s big data technologies. Mobileye, which was acquired by Intel for $15.3 billion in March, is a leading advanced driver-assistance system solution provider to most global automakers. ADAS solution is a vehicle safety system which alerts drivers to potential collisions or accidents, by g
IndustryAug. 10, 2017
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BOK chief says closely watching tensions over N. Korea
The governor of South Korea's central bank said Thursday that he has been closely watching North Korea risks as Pyongyang and Washington traded harsh rhetoric.BOK Gov. Lee Ju-yeol said he remained alert on economic and financial fallout the latest standoff over North Korea's nuclear and missile program could have on Asia's fourth-largest economy.Lee made the comments in an opening ceremony of an exhibition of old books at Seoul National University. Escalating tensions between North Korea a
EconomyAug. 10, 2017
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NK tension dampens stocks, currency
South Korea’s stock markets and currency remained weak for the second consecutive day Thursday, amid escalating political tension on the Korean Peninsula.The first-tier market’s composite index Kospi closed at 2,359.47, down 0.38 percent from Wednesday, while the tech-heavy Kosdaq dropped 0.44 percent. The Kospi extended its three-day losing streak, while the Kosdaq tumbled for two consecutive days.Foreign investors adhered to selling for two straight days. Offshore buyers sold stock
MarketAug. 10, 2017
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BAT challenges PMI in heated tobacco market with Glo
Dunhill maker British American Tobacco is throwing its hat into Korea’s heated tobacco market with the upcoming release of Glo, presenting an alternative to Philip Morris International’s existing IQOS products.On Thursday, BAT announced through a press conference at The Four Seasons Seoul that it will be opening its first Glo flagship store in the Garosugil shopping district of Seoul on Sunday, kicking off its sales in Korea. BAT Korea Executive Director of Legal and External Affairs Bae Yoon-su
IndustryAug. 10, 2017
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[Inside Tech] Beauty meets IT for customized experience
The Korean cosmetics market is a jungle. With its vast spectrum of cosmetics brands at every price point and rapid-fire changes in the latest trends, it is one of the most competitive consumer industries here.But the zeal of brands to constantly come up with new, exciting products can often overwhelm consumers who find it difficult to decide on products to buy.To increase convenience for customers and to help them find the best products, Korean cosmetics companies have found ways to incorporate
IndustryAug. 10, 2017
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[Monitor] Korea’s trade surplus in chips more than doubles
South Korea’s semiconductor trade surplus in the first seven months this year reached $28.9 billion, rising sharply from $12.6 billion in the same period in 2016, marking over a twofold on-year increase. This year’s figure so far already surpasses the combined surplus of $25.6 billion for 2016.It also shows that memory chips take up nearly half of the country‘s trade profits, casting concerns over the economy’s excessive dependency to the industry that is vulnerable to global market fluctuations
TechnologyAug. 10, 2017
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S. Korean shares end lower on foreign selling amid tensions over N. Korea
South Korean stocks ended slightly lower Thursday as foreign investors offloaded local stocks on profit-taking amid escalating tensions over North Korea's provocations. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index lost 8.92 points, or 0.38 percent, to 2,359.47.Foreigners and retail investors offloaded shares worth more than 286 billion won ($250 million) and 168 billion won, respectively, while institutions scooped up more than 429 billion won, keepin
MarketAug. 10, 2017
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New science official refuses to step down
President Moon Jae-in's newly appointed senior science innovation official said Thursday that she will not step down from the post amid growing calls for her resignation due to her involvement in a stem cell research fraud scandal 11 years ago.Park Ky-young, a biology professor at Sunchon National University, served as a senior advisor to former President Roh Moo-hyun for some two years until 2006 when she resigned over a shocking revelation that Hwang Woo-suk, the country's leading stem cell sc
TechnologyAug. 10, 2017
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Automakers threaten to move factories offshore ahead of court ruling on wages
South Korea's automakers on Thursday warned they may have to move their factories offshore pending an imminent court ruling that could increase the cost of salaries by trillions of won.The Korea Automobile Manufacturers Association, representing the country's five car producers, said in a joint statement that a ruling to include bonuses and other extra stipends as part of regular wages would be a "deadly blow" not only to themselves but to their chain of subcontractors."If the prospects of incre
IndustryAug. 10, 2017
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Asiana Q2 loss widens on FX losses
Asiana Airlines Inc. said Thursday its losses widened in the second quarter from a year earlier due to foreign currency-related losses.Net loss reached 74.7 billion won ($65.3 million) in the April-June period, compared to a loss of 26.7 billion won a year earlier, the company said in a statement. Operating income, on the other hand, surged 49 percent on-year to reach 42.8 billion won, with sales rising 8.5 percent to 1.49 trillion won over the cited period. The operating income and sales for th
EconomyAug. 10, 2017
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Instagram tops 10m active monthly users in Korea
Instagram, a photo-sharing app owned by US social networking giant Facebook, topped 10 million users in South Korea as of this month.Facebook Korea said Thursday that the number of monthly active users on Instagram surpassed 10 million as of August. Monthly active users refer to app users who log into the app more than once per month.Instagram was launched in Korea in December 2012. The photo-sharing app has since grown rapidly here, topping 6 million users as of March 2016. Globally, Instagram
TechnologyAug. 10, 2017
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Kakao posts record revenue in Q2 on upbeat ad, content sales
South Korean mobile messaging giant Kakao said Thursday that it recorded its highest quarterly revenue to date in the second quarter, led by a hike in its advertising and content sales. Kakao saw revenue of 468.4 billion won ($410.6 million) during the April-June period, marking a 24 percent jump on-year. During the same period, operating profit soared 68 percent on-year to 44.6 billion won. However, net profit came in at 12.5 billion won, down 6 percent on-year, due to increased operating expen
TechnologyAug. 10, 2017
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Jeju sees 1st drop in retail sales in Q2 on THAAD fallout
Retail sales on the southern island of Jeju fell in the second quarter for the first time ever on a Sino-Korean row over the deployment of a US missile defense shield, government data showed Thursday.According to the data by Statistics Korea, retail sales on Jeju declined 3.2 percent in the April-June period from a year earlier.It represents the first on-year decline since the statistical agency started compiling related data in the first quarter of 2010.The agency attributed the decline to a pl
EconomyAug. 10, 2017
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Uber launches food delivery service in Korea
Uber Technologies Inc. launched its food delivery service in South Korea on Thursday, joining the country's heated delivery service app market.The mobile application UberEATS allows users to select food from registered restaurants and deliver the dishes by its delivery partners, its local unit Uber Korea said. "Food delivery is very advanced in Korea," said Allen Penn, Asia Pacific's head of UberEATS, during a press conference held in Seoul. "With that said, we still feel like we are at the very
TechnologyAug. 10, 2017
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Hanwha Chemical Q2 net dips 20% on one-time factor
Hanwha Chemical Corp., a major chemicals firm, said Thursday that its second-quarter earnings sank almost 20 percent from a year earlier, due to a one-off factor.Net profit reached a record 249 billion won ($218 million) in the April-June period, compared with a profit of 310 billion won a year earlier, the company said in a regulatory filing. Hanwha Chemical Corp.`s plant in Yeosu, South Korea. (Yonhap)Operating income also dipped 25 percent on-year to reach 219 billion won, while sales edged u
IndustryAug. 10, 2017
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FTC slaps W796m fines on two bid rigging companies
South Korea's antitrust watchdog said Thursday that it has imposed a combined 796 million won ($699,000) in fines on two local electronics part suppliers for rigging bids for public railway construction projects.The two companies -- Yookyung Control Co. and Hyukshin Engineering Co. -- allegedly colluded to participate in five bids to supply electronic interlocking equipment arranged by state-run Korea Railroad Corp., according to the Fair Trade Commission. Interlocking equipment is a railway sig
EconomyAug. 10, 2017
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BOK provides W4.6tr to small firms in assistance
South Korea's central bank said Thursday that it has decided to extend 4.6 trillion won ($4 billion) to small and medium-sized firms through commercial lenders in the latest move to boost potential growth numbers.The monetary policy board of the Bank of Korea said 3.6 trillion won will be provided to small and medium enterprises that are seeking to find new growth drivers and contribute to job creation.The decision comes as Asia's fourth-largest economy has been struggling to prop up growth and
EconomyAug. 10, 2017
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S. Korean shares extend losses amid tensions over N. Korea
South Korean stocks extended losses late Thursday morning as North Korea risks weighed on the main index.The benchmark Korea Composite Stock Price Index lost 16.71 points, or 0.71 percent, to 2,351.68 as of 11:20 a.m.The decline followed overnight losses on Wall Street. The Dow Jones industrial average fell 0.17 percent, with the tech-heavy Nasdaq composite index declining 0.28 percent.Ryu Yong-seok, a market analyst at KB Securities Co., said tensions between North Korea and the United States a
MarketAug. 10, 2017
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Imported commercial vehicles drops in July
A total of 378 imported commercial vehicles, mostly trucks, were sold in South Korea last month, down 11.1 percent from the previous month, industry data showed Thursday.According to the data compiled by the Korea Automobile Importers and Distributors Association, Volvo topped the list with a total of 137 trucks sold, followed by 105 vehicles from MAN, 83 from Scania, 40 from Mercedes-Benz and 13 from Iveco.By type, bodybuilders accounted for 180 vehicles, followed by 131 tractors, 62 cargo truc
EconomyAug. 10, 2017