Most Popular
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[Weekender] Geeks have never been so chic in Korea
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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US military commander in S. Korea during Gwangju uprising dies
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[Photo News] Seoul seeks 'best sleeper'
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US expert says N. Korea might ignore Trump if he returns to White House
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[KH Explains] Why Korea's so tough on short selling
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Samsung SDI, Duke Energy ink electricity storage tie-up
Samsung SDI, the battery business arm of Samsung Group, said Wednesday that it had inked a supply deal of its lithium-ion batteries and battery management systems with Duke Energy, the largest electric power company in the U.S.The supply deal is the latest of SDI’s moves to increase its presence in the global storage system industry. SDI made deals with U.S. energy solution service provider GCN, Japanese capacitor maker Nichicon and electronics manufacturer Sharp during recent years to provide b
TechnologyJuly 1, 2015
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Foreign visitors exempt from Greek bank run
The capital controls introduced by the Greek government do not apply to foreign visitors to Greece, the Greek Ministry for Economy, Infrastructure, Shipping and Tourism said Wednesday.Foreigner visitors are free to make financial transactions, such as ATM withdrawals and credit or debit card payments that are issued outside Greece, the Greek Embassy to Seoul said, citing the Greek Tourism Ministry. There are adequate fuel supplies, products and services throughout the Greek mainland the islands,
July 1, 2015
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Long and lean: exercise for a dancer's body
The era of smartphones, tablets and laptop computers has brought on a silent but widespread plague of bad posture, which in turn leads to tense muscles and uneven weight gain around the waist. This week, The Korea Herald explored three new exercises that incorporate elements of dance to gain muscle tone while straightening the spine and facilitating proper breathing.Graceful posture and rehabilitation: Ballet-Pilates (Pilallet)Coach Yoon Seung-hye performs Pilallet, a hybrid exercise that fuses
TechnologyJuly 1, 2015
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Samsung C&T CEO confident of winning votes on merger deal
Samsung C&T on Wednesday expressed confidence in winning at a shareholders meeting on July 17, where its merger deal with Cheil Industries will be put to a vote.The construction unit of Samsung Group also expected limited impact of Institutional Shareholder Services‘ stance on its merger with Cheil Industries.Samsung C&T's headquarters in Seocho-dong, southern Seoul. YonhapISS is a U.S. advisory firm that evaluates corporate issues on behalf of shareholders and provides advice to vote on those i
IndustryJuly 1, 2015
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Korean cars greener than imports: report
Korean cars emit fewer greenhouse gases and air pollutants than imported vehicles, a government report showed Wednesday. According to the Environment Ministry, the average emissions grade of local vehicles was 2.46, which is 0.27 lower than foreign-made automobiles. Cars were rated from grade 1 to 5 based on the emissions level of air pollution substances, such as carbon dioxide and nitrogen oxide. With grade 1 being the greenest, each higher grade indicates the emissions of 15 percent more air
MobilityJuly 1, 2015
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Court ruling boosts chances of Samsung merger
The headquarters of Samsung C&T in southern Seoul YonhapA South Korean court on Wednesday rejected an injunction request by U.S. hedge fund Elliott Associates to block a proposed merger of two Samsung Group affiliates, paving the way for the deal proceedings crucial for the group’s leadership transition. Elliott, the third-largest shareholder of Samsung C&T, the group’s construction and trading unit, filed two injunctions early this month, asking the court to stop a shareholder vote on July 17 o
IndustryJuly 1, 2015
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[Photo News] LG Global Challenger
LG Group chairman Koo Bon-moo (left) delivers the emblem of LG Global Challenger, a fully funded overseas study and exploration program for college students, to student representatives at the group’s headquarters in Yeouido-dong, western Seoul, on Wednesday. This year’s program has selected 140 students of 35 teams. LG Group
TechnologyJuly 1, 2015
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Qualcomm to pump W100b into Korean tech start-ups
Qualcomm, the U.S. chipmaker, said Wednesday it would invest up to 100 billion won ($90 million) in Korean technology start-ups in a move to help foster innovation and entrepreneurship in the Korean economy. The announcement was made when executive chairman Paul Jacobs visited Korea this week to celebrate the company’s 30th anniversary and 25 years of strong relations with Korea. The company said it intends to expand its involvement in the Korean start-up scene with both direct and indirect inve
TechnologyJuly 1, 2015
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Korea plans W15tr extra budget
The government and the ruling party reached an agreement to set an extra budget of 15 trillion won ($13.3 billion) at their meeting Wednesday. But the supplementary budget for the second half, pushed by the Finance Ministry, has faced criticism from opposition parties for its reckless use of taxpayers’ money.Ruling Saenuri Party officials said Finance Minister Choi Kyung-hwan garnered consent from the party for the economic stimulus package.They plan to propose the budget plan to the National As
July 1, 2015
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[Photo News] LG OLED TV reigns supreme
LG OLED TV REIGNS SUPREME -- South Korean tech giant LG Electronics’ organic light-emitting diode TV has recently won top prizes at two of the most prestigious awards events in the global TV industry — the Value Electronics TV Shootout in the U.S. and the Plus X Award in Europe. Tim Alessi (left), director of LG’s new product development, poses with Value Electronics chief Robert Zohn at the annual Value Electronics TV Shootout event held last week in the U.S. LG Electronics
TechnologyJuly 1, 2015
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Hyundai, Kia cars rated best quality in China
Hyundai Motor Co. and Kia Motors said Sunday that seven of their car models have received the highest customer satisfaction scores in a Chinese automobile survey.According to the 2014 China Automobile Customer Satisfaction Index, Hyundai Motor’s Verna, Mistra, Tucson and Tucson ix, as well as Kia Motors’ K2, K3 and Sportage scored the highest in their respective categories.Hyundai Motor also came in first place and Kia Motors in third for car maintenance satisfaction. The Hyundai Mistra was rate
IndustryJuly 1, 2015
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More firms added on antitrust watch list in July
The number of business group affiliates subject to restrictions on mutual investments and loan guarantees rose in July from a month earlier, the antitrust watchdog said Wednesday. The Fair Trade Commission said the number of firms on its watch list stood at 1,686 as of this month, up two from 1,684 on June 1. The firms all belong to the country's 61 largest business groups.A total of 12 companies were added, with 10 being removed as they were merged with other affiliates or sold off.Nine busin
IndustryJuly 1, 2015
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Park vows to strengthen employment insurance
President Park Geun-hye pledged Wednesday to strengthen a state-administered insurance program for workers as part of efforts to stabilize the labor market. Still, she did not give details on how to boost the role of employment insurance designed to provide unemployment insurance benefits up to eight months to eligible unemployed workers.She made the comments in a video message to participants at a ceremony marking the 20th anniversary of the establishment of the insurance program. Park also r
July 1, 2015
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Govt, ruling party agree on 15tln won extra budget amid MERS fallout
The government and the ruling Saenuri Party agreed Wednesday to draw up an extra budget worth around 15 trillion won ($13.4 billion) as Asia's fourth-largest economy, already reeling from slackened domestic demand and falling exports, is feared to further lose recovery momentum amid the MERS fallout. The supplementary budget plan will be submitted to the parliament for approval on Monday, ruling party officials said. The two sides also agreed to pass it by July 20. The extra money will come
July 1, 2015
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Court dismisses Elliott's injunction requests on Samsung merger
A Seoul court turned down a request on Wednesday by a U.S. hedge fund to block a proposed merger of two Samsung Group units, lifting a legal hurdle for South Korea's top conglomerate to push ahead with the deal deemed crucial for its leadership transition. Samsung C&T Corp., the construction and trading arm of Samsung Group, is facing opposition from Elliott Associates L.P. over an 8.9 trillion-won ($7.95 billion) takeover offer by Cheil Industries Inc., the group's de facto holding firm. El
IndustryJuly 1, 2015
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Bakery brand Paris Baguette opens 2nd store in Paris
South Korean confectionery giant Paris Baguette said Wednesday it has opened its second Paris store in the city's Opera district, a move that comes as the company is stepping up its overseas expansion. The opening comes roughly 11 months after it opened its first Paris store in the Chatelet district of the French capital, which is in the vicinity of key tourist attractions, such as Notre Dame Cathedral and Louvre Museum. "We opened our second branch in France at an earlier-than-expected schedu
CompaniesJuly 1, 2015
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Seoul downplays Greek default fallout
The inability of Greece to pay back money owed to the International Monetary Fund will have a limited impact on the South Korean economy, the government said Wednesday. The Washington-based lending agency said Greece is currently in "arrears" after missing its payment of 1.5 billion euros ($1.67 billion) that came due on Tuesday. "Most observers predicted that Athens will miss the repayment deadline," a finance ministry official said. He pointed out that while the country did not pay the IMF
July 1, 2015
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Consumer prices growth shy of 1 pct for 7th month in June
South Korea's consumer prices grew less than 1 percent for the seventh month in a row in June, a government report showed Wednesday, a worrisome pace of growth for a country trying to keep deflation at bay. The country's consumer price index inched up 0.7 percent last month from a year earlier, the report by Statistics Korea showed. Last month's number represents a modest gain from the 0.5 percent on-year growth tallied for May. "Consumer inflation numbers are mainly being influenced by weak
July 1, 2015
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Seoul shares spike 1.14%, Greek woes snubbed
South Korean stocks rallied 1.14 percent on Wednesday as Greece's failure to pay its debt to the International Monetary Fund was much expected, coming as no surprise to investors, analysts said. The local currency weakened against the U.S. dollar. The benchmark Korea Composite Stock Price Index rose 23.69 points to 2,097.89. Trading volume was heavy at 466.7 million shares worth 5.8 trillion won ($5.19 billion), with gainers far beating decliners 605 to 221. The local stock market remained c
July 1, 2015
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Hyundai Motor keeps top slot in satisfaction survey in China
Hyundai Motor Co., South Korea's top automaker, said Wednesday that it ranked first in consumer sales satisfaction in China for the second straight year among volume car manufacturers. The survey conducted by global marketing company J.D. Power showed Hyundai Motor received the highest score of 812 points out of 1,000 in China in its "sales satisfaction index" among 71 companies. The score was highest ever since the survey started in 2000. It was also much better than this year's market averag
MobilityJuly 1, 2015