Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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What's next for the government's push in quota hike?
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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[Robert J. Fouser] Social attitudes toward language proficiency
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Graphic News] How much do Korean adults read?
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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[Photo News] Brainstorming against Brexit fallout
Hwang Young-key (center), chairman of the Korea Financial Investment Association, speaks during a meeting with heads of brokerage houses convened to discuss the fallout in the nation‘s financial markets from Brexit on Monday. (Yonhap)
June 27, 2016
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K-ITC Born2Global Center and its Members ⑤ JD SOUND
Sound equipment company JD SOUND announced Monday that it will be holding a crowdfunding campaign through the U.S. crowdfunding platform Indiegogo on July 6. Its goal is to secure $2 million in funding for its new portable DJ device. In June 2016, JD SOUND managed to raise approximately 53 million yen ($520,667) through Makuake, a Japanese crowdfunding platform.JD SOUND has created a portable and mobile app version of its DJ device, enabling users to create and listen to premium quality music no
TechnologyJune 27, 2016
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DiYPRO to feature holographic display at KCON Los Angeles in July
Optics company DiYPRO announced Monday that it will be featuring a holographic display at the KCON festival next month in Los Angeles. DiYPRO’s display panel produces a holographic screen by combining multiple two-dimensional videos. CEO Kim Myung-joong said that the company will be featuring the display at CES next January as well.Holographic technology, which has been gaining attention for its potential applications to next-generation displays, is based on optics—in other words, lens technolog
TechnologyJune 27, 2016
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[Photo News] Meeting for new growth engines
Business leaders including Samsung Electronics vice chairman Kwon Oh-hyun (fourth from left) attend a meeting on government-company consultation for the nation’s new growth engines at a Seoul hotel on Monday. (Yonhap)
IndustryJune 27, 2016
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LSIS R&D campus named Asia’s No. 2 green building
Leading Korean electrical components manufacturer LS Industrial Systems’ Anyang research and development campus was named Asia’s No. 2 green building for its building energy management system, company officials announced Monday. The Asia Pacific Intelligent Green Building Alliance, an academic and technology exchange platform for green building technology was behind the list. LS Industrial Systems‘ Anyang R&D campus building in Anyang, Gyeonggi Province (LSIS)Built as the first domestic buildi
IndustryJune 27, 2016
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Hanwha Techwin bags 240 bln won deal with Korea's aircraft maker
Hanwha Techwin, a Korean defense manufacturer, said Monday that it has signed a parts supply deal worth 241 billion won ($204 million) with Korea Aerospace Industries Ltd., the country's sole aircraft manufacturer.The deal is designed to localize parts of the engine for Korea's next-generation fighter jets, Hanwha Techwin said in a regulatory filing.In May, Korea picked U.S. company General Electric as the preferred bidder to supply engines for the KF-X project. KAI said Hanwha Techwin is set to
IndustryJune 27, 2016
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BOK chief says to ensure ample liquidity to counter Brexit-triggered chaos
The head of Korea's central bank on Monday said the bank is prepared to ensure ample market liquidity to minimize market uncertainty stemming from Britain's unprecedented vote to leave the European Union.Bank of Korea Gov. Lee Ju-yeol also insisted there is no need to react too sensitively to what he called "short-term" changes in the market. (Yonhap)"In the case of our country, which is relatively more open, not only its financial market but also its real economy may be exposed to a negative im
June 27, 2016
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[THE INVESTOR] Naver chief faces new challenges with Line
[The Investor] Naver chief faces new challenges with LineThe Korea Herald and The Investor are jointly publishing a series of in-depth articles analyzing rising business tycoons and their company’s governance structures. This is the first installment on Lee Hae-jin and Naver. -- Ed. Naver’s chairman Lee Hae-jin is something of an enigma in Korea’s corporate community. Unlike other businesspeople who are household names, Lee remains mostly out of the public eye. So far, his approach to “owning” t
IndustryJune 27, 2016
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Finance Minister opposes corporate tax hike
[THE INVESTOR] Korean Finance Minister Yoo Il-ho has expressed his opposition to corporate income tax hike, warning that it could take a toll on the country’s competitiveness.“For the time being, raising the corporate income tax is not a right thing to do,” Yoo said in a meeting with business journalists of local newspapers on June 27.His remark comes as the main opposition Minjoo Party of Korea seeks to propose a revision to raise the corporate income tax ceiling for big companies to 25 percent
June 27, 2016
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Doosan Heavy wins W220b deal in Iran
[THE INVESTOR] Doosan Heavy Industries and Construction has secured a 220 billion won (US$187 million) deal to build a desalination plant in Iran, the company said Monday. Doosan was the first global firm to have won a seawater purification plant construction project in the Middle Eastern country after international economic sanctions were lifted from it earlier this year, added the firm.The deal was signed with an Iranian private firm Sazeh Sazan. The South Korean builder will be in charge of d
IndustryJune 27, 2016
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[News Focus] Lawmakers renew aim at Samsung Life
A group of opposition lawmakers have revived legislation that would force Samsung Life to drastically reduce its equity holdings in affiliates, including Samsung Electronics, potentially threatening Samsung Group’s de facto chief Lee Jae-yong’s control over the top conglomerate. The original legislation, frequently referred to as “the Samsung Life” or “anti-Samsung bill,” died at the previous, conservative Saenuri Party-controlled parliament amid heavy lobbying from Samsung. The revival came aft
June 27, 2016
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South Korea‘s inconsistent fiscal policy draws criticism
[THE INVESTOR] The government is expected to unveil a plan to set aside about 10 trillion won ($8.4 billion) in supplementary budget Tuesday when it announces economic policy directions for the second half of this year.In a meeting with lawmakers from the ruling Saenuri Party on Friday, Finance Minister Yoo Il-ho said he would actively consider drawing up an extra budget if it was to pass parliament within the next month.Two days earlier, Yoo, who doubles as deputy prime minister for economic a
June 27, 2016
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Doosan Heavy wins W220b deal in Iran
Doosan Heavy Industries and Construction has secured a 220 billion won deal to build a desalination plant in Iran, the company said Monday. Doosan was the first global firm to have won a sea water purification plant construction project in the Middle Eastern country after international economic sanctions were lifted from it earlier this year, added the firm.The deal was signed with an Iranian private firm Sazeh Sazan. The South Korean builder will be in charge of designing and constructing the p
IndustryJune 27, 2016
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Korean shippers dispatch bigger vessels on Panama Canal route
[THE INVESTOR] Korean shipping companies are deploying larger ships that can navigate the newly expanded Panama Canal which is set to open a new era in global trade. Deploying bigger vessels is expected to improve the indebted ship liners’ profitability as they can enhance their price competitiveness. Hyundai Merchant Marine plans to deploy five units of 10,000 twenty-foot equivalent containerships on the route called NYX, focusing on coverage between Central and North China and Korea to the Uni
IndustryJune 27, 2016
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GS Caltex offers counseling programs for needy youths
Korea’s major oil refiner GS Caltex is helping underprivileged children and youths by providing counseling services to them as part of corporate social responsibility, the company said Monday.With the aim of boosting youths’ self-esteem and supporting them socially, the company has been running the program “Heart Tok Tok” since 2013. It involves sessions designed to help them heal psychologically such as through music, painting and ballet. North Korean defector students participate in the Heart
IndustryJune 27, 2016
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Hyundai Heavy eyes medical robot exports
[THE INVESTOR] Hyundai Heavy Industries delivered 10 medical robots to local health care institutions on June 27, as it speeds up the efforts to enter overseas markets by the end of next year. According to Hyundai Heavy, 10 robots of three different types were delivered to five medical institutions -- Asan Medical Center, Ulsan University Hospital, Cheonnam National University Gwangju 2nd Geriatric Hospital and Ulsan Noin Hospital.Medical-use robots developed by Hyundai Heavy. Hyundai Heavy Indu
IndustryJune 27, 2016
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Brexit's impact on Korea's ICT industry to be marginal: ministry
Korea's ICT industry is expected to suffer a limited impact from Britain's departure from the European Union in the short term, given its relatively smaller portion against its overall shipment, a senior government official said Monday.Choi Jae-you, vice minister of science, ICT and future planning, pointed out that Britain accounts for merely 0.7 percent of South Korea's ICT-related exports. ICT is an acronym for information and communication technology. (Yonhap)The volume of South Korea's dire
June 27, 2016
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BOK chief to hold emergency meeting on Brexit
The head of Korea's central bank will preside over an emergency meeting later in the day with the bank's senior staff to discuss ways of dealing with any fallout from Britain's unexpected decision to leave the European Union, it said Monday.Bank of Korea Gov. Lee Ju-yeol returned home earlier in the day, cutting short his trip to Basel, Switzerland, for the emergency meeting over the Brexit crisis. (Yonhap)The BOK's meeting, starting at 2:30 p.m., follows an earlier meeting hosted by the Financi
June 27, 2016
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Samsung Heavy Industries seeks capital increase of W1tr
[THE INVESTOR] Samsung Heavy Industries is seeking to gain approval to issue new shares worth some 1 trillion won (US$842 million) at a board meeting scheduled for June 27.In the meeting, the cash-strapped shipbuilder will propose modifying the articles of association, to prepare for the paid-in capital increase. On June 8, the company said a specific timeline for the capital increase, and the amount, will be confirmed following corporate consulting and its current fund availability.By Park Han-
IndustryJune 27, 2016
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USFDA grants Kyongbo Pharm facility approval
[THE INVESTOR] Korean pharmaceutical giant Chong Kun Dang’s raw materials manufacturer Kyongbo Pharmaceutical has got approval from the US Food and Drug Administration for its sterile GMP facility, its chief executive said June 27. CEO Kang Tae-won said the approval was granted to Kyongbo after the company applied for USFDA’s facility clearance evaluation for ceftriaxone, a core ingredient in producing antibiotics for pneumonia and bronchitis, last February. The raw material has already entered
IndustryJune 27, 2016