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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[KH Explains] Why Korea's so tough on short selling
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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Actors involved in past controversies return first via streaming service originals
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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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Builders face grim outlook
Samsung Engineering and SK E&C have seen their financial soundness deteriorate in recent years due to their lackluster business performance in the overseas market, according to reports from the stock brokerage sector.The two conglomerate-based builders are suffering waning profitability and high debt-to-equity ratios, while some observers predict they could also gain from the coming bounce back in South Korea’s property market and construction industry.Samsung Engineering, in a regulatory filing
April 30, 2015
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[Photo News] White UHD TV
Samsung Electronics released white-bezel ultrahigh-definition TVs in Seoul Thursday. The company said the TVs with the white frame were the first in nine years to come out in the Korean market. (Samsung Electronics)
TechnologyApril 30, 2015
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KEPCO opens Jordan power plant
AMMAN ― In a deserted area 40 kilometers east from Amman, the capital city of Jordan, stands the world’s largest diesel engine power plant, the Amman Asia Power Plant. Thirty-eight diesel engines standing 50 meters tall can generate 573 megawatts in 30 minutes and are currently responsible of more than 14 percent of the country’s electricity demand. “The power plant is an important component of our government goal to meet the growing electricity demand. … This is a symbolic event showing the pro
IndustryApril 30, 2015
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Smilegate supports game start-ups
Leading South Korean game developer Smilegate commemorated the first anniversary of the firm’s start-up incubation initiative, called Orange Farm, in Seoul on Thursday.Smilegame runs three centers to nurture start-ups ― two in Seoul and one in Busan ― that house 23 ventures in total. The business incubators are the largest among those run by private firms in Korea.Smilegate CEO Kwon Hyuk-bin“Smilegate will spare no efforts to help fledgling ventures at the incubation centers to write success sto
TechnologyApril 30, 2015
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KCCI to host corporate photo contest
The Korea Chamber of Commerce and Industry began accepting applications for the second Korea Corporate Photography Contest on Thursday, the biggest photography contest in the country, under the theme of “Corporations, Life and People.”Anyone in and outside of Korea can submit a photograph from May 1 to Sept. 30. The only requirement is that the photographs must be related to corporations in some way. Participants can submit as many entries as they want via online registration. It costs 1,000 won
IndustryApril 30, 2015
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Imperial named No. 1 in customer satisfaction
Pernod Ricard Korea, the local branch of the world’s second-largest distiller, said that its flagship Korean brand Imperial Whiskey had won the top prize in a leading customer satisfaction index here.The premium Scotch whisky was named No. 1. in the 2015 Korea Customer Surprise Brand Index, administered by the Trade Ministry-affiliated Korea Brand Management Association, officials said Thursday.The K-CSBI aims at assessing the level of customer satisfaction for individual brands by converting cu
April 30, 2015
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[Herald Interview] Finance clearing institute seeks to reform corporate payment system
In such a conglomerate-dominated Korean economy, small and medium-sized subcontractors and ventures cannot thrive without a healthy business-to-business payment system. Without one, the Asian financial crisis and the global financial crisis doomed countless SMEs to bankruptcy.“Most unfair practices in business come from inappropriate payment systems,” said Rha Moon-soo, president and chief executive of the Korea Electronic Finance Clearing Institute, in an interview with The Korea Herald last we
April 30, 2015
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Amway Korea recruiting for global internship program
Amway Korea, the Korean unit of the leading U.S.-based direct-sales company Amway, is recruiting undergraduate and graduate university students for its fifth Amway Korea Global Internship Program. The hiring process includes an initial application screening and a subsequent evaluation that includes a group debate and an interview conducted in both English and Korean.Those selected will work as Amway Korea interns for eight weeks from June 22 to Aug. 14. Each intern will be assigned to a departme
IndustryApril 30, 2015
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S. Korea moves for early development of nanotechnology products
South Korea will work to develop and improve new products using nanotechnology, such as wearable devices, as part of efforts to take global leadership in a market that is expected to reach $3 trillion in 2020, the government said Thursday.Nanotechnology refers to the technology of dividing any material into nanometers to create more a stable or precise material that also often comes with new and better characteristics.One nanometer is equal to one-billionth of a meter.South Korea is already one
April 30, 2015
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Samsung predicts recovery in Q2
By Lee Ji-yoonSamsung Electronics on Wednesday predicted earnings will recover in the second quarter as its new flagship smartphone, the Galaxy S6, lures back customers and its chip division wins orders from rival vendors.In a regulatory filing, the Korean tech giant said its net profit plunged 39 percent in the first quarter from a year earlier due to sluggish device sales.Net income reached 4.63 trillion won ($4.32 billion) in the same period, compared with 7.6 trillion won a year earlier. Ope
TechnologyApril 29, 2015
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[Newsmaker] New NH chief takes office amid doubts
NH Financial Group welcomed Kim Yong-hwan as the new chairman on Wednesday, but it appeared to have done so with a rather heavy heart.The new chief not only has to prove himself a capable successor to Yim Jong-yong ― who became chairman of the Financial Services Commission ― but is also facing allegations that he had illicit ties with the disputed Keangnam Enterprises.Hit by the sudden exit of its much-reputed leader, NH Financial initially welcomed the nomination of Kim, who had served in key f
April 29, 2015
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Incheon Airport marks 10 years at the top
DEAD SEA, Jordan ― The global airport industry celebrated Incheon International Airport’s unprecedented achievement in airport services at the 2015 airport service quality award ceremony hosted by Airports Council International here on Tuesday.ACI, the biggest association of the world’s airports, hosted the annual event, following its announcement of the 2014 ASQ survey results and 2015 award recipients in February. The Korean airport was the best performer in the 2014 ASQ survey, the only globa
IndustryApril 29, 2015
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KB Kookmin Card rolls out Ollim series
KB Kookmin Card’s most recent Ollim card series is attracting customers with its abundant services and benefits.The KB Kookmin Good Day Ollim Card provides discounts on everyday items such as gas, telecommunications and public transport. It also provides a discount on major supermarkets as well as foreign card affiliates. The card increases in benefits when the amount of usage in the past month increases.The KB Kookmin Wise Ollim Card provides more point accumulation benefits than its predecesso
April 29, 2015
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Kumho Industrial creditors reject sole bidder’s offer
The fate of Kumho Industrial, the de facto holding firm of Kumho Asiana Group, is up in the air as creditors rejected the sole bidder’s price offer to acquire a controlling stake.On Tuesday, Korea Development Bank, the lead manager of the stake sale, and creditors of Kumho Industrial decided not to accept the final bid of 600.7 billion won ($561 million) made by Hoban Construction for a 57.5 percent stake, saying it was much lower than expected.Industry watchers have estimated the cost of acquis
IndustryApril 29, 2015
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MLB stadiums deny Korean fried chicken deal
U.S. Major League Baseball stadiums and the food service operator Levy Restaurant dismissed as totally untrue claims by Korean firm Genesis BBQ that it had agreed to sell fried chicken with them, according to multiple sources.Fried chicken chain BBQ announced in a press conference in Seoul on Monday that it would enter the U.S. market with new openings at 92 sports stadiums, including the popular Dodgers Stadium in Los Angeles. The company added that it had inked a deal with Levy, which provides
IndustryApril 29, 2015
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LG claims G4 phone a masterpiece
Despite a series of product leaks online ahead of its official debut, LG Electronics’ new marquee handset G4 featuring advanced cameras and a classy leather back wowed the audience at its launch in Seoul on Wednesday, sending an alert to its rivals ― Samsung Electronics and California-based Apple. LG Electronics chief executive Koo Bon-joon expressed his satisfaction with the latest LG phone, saying he was “confident” that LG would do well against the competitors.As announced earlier, the G4 spo
TechnologyApril 29, 2015
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[Photo News] British supercar
A model poses next to McLaren’s 650S Spider supercar at the carmaker’s first South Korean showroom, which opened in Seoul on Wednesday. (McLaren Korea)
IndustryApril 29, 2015
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KOTRA to open food expo next month
Korea will kick off Seoul Food 2015, Asia’s third-largest food industry exhibition, next month at KINTEX, in Ilsan, northwest of Seoul, trade promotion officials said Wednesday. The Korea Trade-Investment Promotion Agency said the four-day convention, themed “Wave on the Table,” aims at sharing the latest innovations to the healthy, modern diet.“The exhibition itself is like a huge table, featuring the latest wave of changing consumer trends,” said an official at KOTRA, the event organizer.The e
April 29, 2015
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Olympus names new Korean chief
Olympus Korea said Wednesday it has named Naoki Okada, former senior vice president of Olympus China, as its new regional chief. The new Korean head joined Olympus in 1984 and served diverse positions in the company’s endoscope and new growth engine business divisions for 31 years. In 2004, he also led the company’s new medical business unit TmediX for three years before joining the Chinese operation. Naoki Okada“Korea is one of the fastest-growing medical markets,” he said in a statement. “Base
TechnologyApril 29, 2015
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Ikea Korea, Gangdong-gu sign MOU on store construction
Global home furnishing giant Ikea said it will sign an memorandum of understanding with the Gangdong-gu district office in southeastern Seoul on Thursday to cooperate in overseeing the construction of a new Ikea store inside the Godeok Commercial Multicomplex scheduled to open in 2017.Ikea Korea’s country retail manager Andre Schmidtgall and Gangdong-gu chief Lee Hae-sik will establish a mutual partnership to ensure the smooth establishment of the Ikea Gangdong store ― one of four new Ikea store
IndustryApril 29, 2015