Most Popular
-
1
Seoul transit pass for travelers to be available starting July
-
2
Controversy rekindled over when to name criminals, suspects
-
3
[Weekender] Pet food makers bet big on ‘recession-free’ pet food market
-
4
N. Korea says to deploy new multiple rocket launcher starting this year
-
5
[Drama Tour] Romantic trip to ‘Queen of Tears’ filming spots
-
6
‘Monk’ DJ spreading Buddhism goes global
-
7
Buddha's birthday lantern parade to light up Seoul
-
8
Hybe-Ador CEO conflict gets messier
-
9
Battery makers ramp up efforts to diversify graphite supply chain
-
10
What's Seoul's No.1 landmark? Seoulites say Han River, foreigners pick Gwanghwamun Plaza
-
Profit-making corporations post higher sales, more assets in 2014: report
Profit-making corporations in South Korea reported an overall rise in sales and more assets in 2014 compared to the year before, helped by growth in the country's service sector, the government said Friday.According to Statistics Korea, there were 540,508 profit-making firms in the country last year, up 6.9 percent from 505,760 in 2013. It said that combined sales of these companies stood at 4,189 trillion won ($3.53 trillion), a gain of 58 trillion won from the year before with combined assets
IndustryDec. 18, 2015
-
Seoul city opens website about medical tourism programs
The Seoul Metropolitan Government said Friday that it has opened a website that provides information on medical tourism programs in the city in four languages.The Medical Tour Seoul web site (http://medicaltourseoul.com) aims to help foreigners coming to the city for medical tours in English, Chinese, Japanese and Russian, according to the city government.The municipal government said it also plans to provide the service in Arabic starting from the first half of next year.The website provides de
TechnologyDec. 18, 2015
-
Korean snacks make solid overseas inroads
Famous Korean snacks have captivated the taste buds of Asian consumers, making overseas sales more important for local confectionery companies grappling with slower growth on home turf, data showed Friday. Major Korean confectionery companies are increasingly setting their sights on a wider market after seeing robust growth in China and Southeast Asia over the past years. Orion Confectionery Co. is leading the latest trend with double-digit growth in sales of its potato chips, choco snacks and
IndustryDec. 18, 2015
-
Samsung Engineering-led group wins $800 mn plant order
Samsung Engineering Co., the plant engineering unit of South Korea's top conglomerate Samsung Group, said Friday its consortium has a received a US$800 million order to build a petrochemical plant in the United States.Under the deal, Samsung Engineering will get $430 million for design and procurement, while its consortium partner Chicago Bridge & Iron Company will be in charge of the construction estimated at $370 million.The project, launched by the U.S. subsidiary of Lotte Chemical Co., invol
IndustryDec. 18, 2015
-
Seoul shares start lower on extended slump in oil prices
South Korean stocks opened lower Friday, tracking overnight losses on Wall Street, as investors locked in profits amid lingering concerns over faltering oil prices.The benchmark Korea Composite Stock Price Index shed 13.8 points, or 0.7 percent, to 1,964.16 in the first 15 minutes of trading.Following three sessions of gains, the Dow Jones industrial average shed 1.5 percent on Thursday and the Nasdaq dropped 1.35 percent, after U.S. crude fell to the lowest level since February 2009.The selling
Dec. 18, 2015
-
Galaxy S7 to focus on performance over design: sources
Samsung Electronics Co.'s new flagship smartphone, presumably the Galaxy S7, is set to be showcased at a tech exhibition slated for February, an industry source said Friday, with the device expected to put more emphasis on performance over design.The South Korean tech giant will reveal the new Galaxy at the Mobile World Congress 2016 in Barcelona, the source said, with the official release slated for March. Industry watchers said the Galaxy S7 will look similar to its predecessor, the Galaxy S6,
TechnologyDec. 18, 2015
-
Hotel Lotte set to submit IPO application next week
South Korean retail giant Lotte Group's hotel unit is set to submit its application next week for listing on the Seoul bourse, pushing for a market debut as early as March, according to industry sources Friday. Hotel Lotte plans to submit the application to the Korea Exchange on Monday for a preliminary regulatory review of its initial public offering, after clearing uncertainties surrounding the conglomerate's management and other issues. The listing of Hotel Lotte is one of the reform pledges
IndustryDec. 18, 2015
-
Korea's producer prices dip to new 6-year low in Nov.
Producer prices in South Korea slipped to a new six-year low last month although the rate of drop slowed from a month earlier, central bank data showed Friday.The producer price index came to 99.31 in November, down from a revised 99.65 in the previous month, according to the preliminary data from the Bank of Korea.The November figure marked a 0.3 percent cut from the previous month, decelerating from a 0.7 percent on-month drop in October when the index fell below the benchmark 100 for the firs
Dec. 18, 2015
-
Coca-Cola releases Christmas specials
Coca-Cola Korea released its annual Santa Claus special edition, featuring Father Christmas’ image on the 250-milliliter glass bottle. The company also launched the Christmas Santa package, with four 190-milliliter bottled colas covered with an illustration of the Santa Claus holding up a cola bottle. The Santa Claus special edition is 2,000 won ($1.70) a bottle and the Christmas Santa package is 3,980 won. By Bae Ji-sook (baejisook@heraldcorp.com)
IndustryDec. 17, 2015
-
Samsung C&T brands embark on Tmall Global
Samsung C&T’s fashion division said six of its brands have started sales at Tmall Global, the online retailer operated by Alibaba.com.The brands on display are 8 Seconds, Bean Poll Accessories, Kuho, Beaker, Juun.J and Ravenova, which are widely popular among Chinese consumers, but do not have a direct retail outlet there. Samsung will hold a brand day promotion at the Juhuansuan, another website managed by Alibaba, introducing more than 600 items there from Dec. 24-25. By Bae Ji-sook (baejisook
IndustryDec. 17, 2015
-
WeMakePrice to hold beauty fair
E-commerce operator WeMakePrice will hold a beauty fair Saturday at the company’s headquarters in Samseong-dong, southern Seoul. The “family sale” event will feature cosmetics brand Agatha, Secret Age, Camiane and others sold at a bargain. Famous makeup artist Kim Seon-hee will hold a tutorial session while an auction event pricing luxury brand products from 100 won (8.5 cents) will be held to heat up the mood. All proceeds will go to IOM Migration Research and Training Center. For more informat
IndustryDec. 17, 2015
-
French gelato brand Amorino arrives in Seoul
The French ice cream brand Amorino on Tuesday said it has officially regularized the operations of its first Korean shop in Garosu-gil in southern Seoul. This will also be the gelato maker’s first Asian store, and the 126th in 14 countries. Amorino is famous for its gelato served in the shape of a rose, alongside other desserts including macaroons, chocolates and cakes. “Korea is a perfect place to test the waters of the Asian dessert market,” said Amorino CEO Christiano Sereni. By Bae Ji-sook (
IndustryDec. 17, 2015
-
Financial markets rally on Fed relief
U.S. Federal Reserve Chair Janet Yellen speaks at a press conference in Washington on Wendesday. YonhapSeoul officials heaved a sigh of relief Thursday, as a U.S. move to end the seven-year era of near-zero interest rates led to no major turmoil in global and local markets as some feared. On the contrary, financial markets rallied across Asia, as the U.S. Federal Reserve on Wednesday delivered just what markets had expected -- a small rise in interest rates and a clear signal of a slow tighteni
Dec. 17, 2015
-
Bon Point collaborates with Adidas
The French premium children’s fashion brand Bon Point launched a collaborative project with Adidas, adding giddy colorfulness to the German sportswear maker’s signature sneaker models. The Stan Smith model was reborn with green, blue, yellow and other colorful stripes. The Super Star model comes in suede with blue and white, or blue and yellow stripes. “We hope the shoes will complement a family look,” a Bon Point spokesman said. The sneakers will be on sale at Bon Point stores across the countr
IndustryDec. 17, 2015
-
Orion opens flake factory in China
Snack maker Orion started operations of its first potato flake manufacturing plant in China on Tuesday. The plant, situated in Beitun, is the sixth Chinese production plant for the country’s largest confectionary company, and will complete its full construction in 2017.Upon completion, the factory will be capable of producing 20,000 tons of potato flakes to be used in baked or fried potato chips every year, thus supporting Orion in cementing its status as China‘s second-largest confectionary mak
IndustryDec. 17, 2015
-
LG chief inspects R&D complex site
LG Group chairman Koo Bon-moo on Thursday paid a visit to the construction site of the group’s new research and development complex LG Science Park in Magok, western Seoul. LG last year announced a plan to build a 4 trillion won ($3.4 billion) science park on a 170,000-square-meter site in the emerging tech district located a five-minute drive from Gimpo International Airport. LG Group chairman Koo Bon-moo (center) looks around the construction site of the LG Science Park in Magok, western Seou
TechnologyDec. 17, 2015
-
‘Korea must be led by private sector to maintain long-term growth’
South Korea‘s economy must firmly be led by the private sector if it wants to achieve sustainable growth, a public committee dedicated to formulating the country’s long-term growth strategy said Thursday.Korea International Trade Association CEO Kim In-ho attends a public committee dedicated to formulating the country’s long-term growth strategy in central Seoul, Thursday. The meeting was cochaired by Kim and Finance Minister Choi Kyung-hwan.(Yonhap) The committee, made up of economists from loc
Dec. 17, 2015
-
Renault Samsung wins exporter award
The South Korean government awarded Renault Samsung Motors last week for its contribution to the national economy with its $2 billion in exports this year. The local unit of French auto firm Renault was the only multinational company among more than 1,000 winners at an event commemorating the 52nd annual Trade Day on Dec. 7 at Coex in southern Seoul.In contrast with the falling exports of other Korean automakers, Renault Samsung has achieved double-digit growth in exports every month from the sa
MobilityDec. 17, 2015
-
Korean firms cautious over Fed hike
In contrast to the central bank’s upbeat forecast of the U.S. rate hike on the Korean economy, the business circles here remained cautious on Thursday, devising ways to minimize the impact in the mid and long term. (Yonhap)The impact of the U.S. Fed hike -- the first in nearly a decade -- will not be felt right away, market watchers said, as the South Korean central bank is keeping its key interest rate at a record low level. However, many Korean companies are concerned about its global impact,
IndustryDec. 17, 2015
-
'Home’ will drive 2016 consumer trends: survey
Pressed for time and short on money amid an economic downturn, South Koreans today tend to seek sanctuary from the hustle and bustle of daily life at home -- a place of comfort where one can unwind and rest freely. As Koreans increasingly feel busy, anxious and short of money to spare, many are likely to spend more time at home next year, according to the 2016 Korea Trend Report by market researcher Macromill Embrain. “Home” is thus a key concept that will shape and drive consumption patterns ne
IndustryDec. 17, 2015