Most Popular
-
1
Exports to US reach all-time high, widen gap with China
-
2
Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
-
3
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
4
[Music in drama] Rekindle a love that slipped through your fingers
-
5
Inflation eases in April, continues bumpy ride
-
6
Golden chance to liquidate babies’ gold rings?
-
7
Seoul Metro to seek legal action against malicious complaints
-
8
[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
-
9
Illit, mired in controversy, remains on Billboard charts for 5th week
-
10
On May Day, labor unions blast Yoon's foreign nanny proposal
-
[SUPER RICH] Ex-Jinro chairman’s death reflects honor and disgrace of Korean conglomerates
Prosecutors on Monday confirmed the death of former Jinro Group chairman Jang Jin-ho, and officially ceased the arraignment process on him over four suspected irregularities. The announcement of the death of the father of the nation’s best-selling Cass beer and Chamisul soju came more than a month after his funeral was held in Beijing and his bereaved family set up a small mourning place in Asan Medical Center in Seoul.Investigators said that because the surviving family did not register his dea
June 16, 2015
-
[SUPER RICH] BridgeCrest Medical helps fight disease with big data
Amid the Middle East respiratory syndrome outbreak, a Korean technology company won much public support by creating and distributing a “MERS map” before the government did.Nathan Klarer, founder and CEO of start-up BridgeCrest Medical, did something similar last year by presenting an Ebola map when the United States was facing an Ebola scare.Ebola, which had been spreading in West Africa, led to a scare in the United States when a patient in Texas died from it and two nurses who were treating hi
June 16, 2015
-
[Photo News] Cordless Vacuum
Tech giant LG Electronics said Monday that the Cordzero Cyking, a cordless vacuum cleaner, had recorded accumulated sales of 10,000 units, the highest in the domestic market, during the first five months of this year. (LGE)
June 15, 2015
-
Samsung C&T, Elliott start bitter proxy battle
Samsung C&T and Elliott Associates have started a bitter proxy fight to win shareholders’ support ahead of their voting on the proposed merger between the Samsung construction unit and Cheil Industries, the de facto holding company of Samsung Group, next month. Samsung C&T announced the $8 billion merger plan on May 26, citing business synergies between the two firms. But Elliott, the U.S. activist hedge fund and the company’s third-largest shareholder, is opposing the deal, saying it was not in
June 15, 2015
-
POSCO secures W1.24tr investment from Saudi fund
POSCO, South Korea’s top steelmaker, secured a 1.24 trillion won ($1.08 billion) overseas investment Monday by selling stakes in its construction unit to Saudi Arabia’s sovereign wealth fund. POSCO chairman Kwon Oh-joon inked the deal with the Gulf state’s Public Investment Fund secretary-general Abdulrahman al Mofadhi, selling a 38 percent share in POSCO Engineering and Construction for 1.2 trillion won, according to the company.POSCO added that it would also collaborate with PIF to establish a
June 15, 2015
-
Consumers shift to online shopping amid MERS fears
South Korea’s major retailers have received an upsurge in their online sales amid the outbreak of Middle East respiratory syndrome, industry data showed Monday.“The number of consumers who opt for online shopping in order to avoid outside activity has increased sharply since the end of May in the aftermath of MERS,” said Lee Wan-shin, marketing director at Lotte Department Store. Data from the country’s supermarket chains showed that their online orders and sales surged by 50-60 percent on-year
June 15, 2015
-
‘Orion interested in Homeplus takeover’
Snack-maker Orion Group is sizing up whether to bid for grocery retail giant Homeplus, it was reported Monday. However, the news made little impression on analysts who consider South Korea’s second-largest supermarket chain to be too large for Orion, which has undergone restructuring to reinforce its financial health. According to market sources, the producer of some of the country’s best-selling confectionaries, including the Choco Pie and Market O Real Brownie, has recently received an investm
June 15, 2015
-
Businesses step up MERS prevention
As South Korea continues to remain on high alert over the spread of the Middle East respiratory syndrome, the nation’s leading manufacturers, including Samsung, Hyundai and LG, have stepped up their efforts to curb the spread of the virus across their production sites.Companies from the automobile to semiconductors sectors have been taking extra precautions to prevent the spread of MERS, given that their business is heavily dependent on a close network of factory workers operating the production
June 14, 2015
-
Hwang defends Samsung against ‘vulture’ fund
Domestic institutional investors are expected to support the merger plan between Samsung C&T and its sister company Cheil Industries as the head of local investors’ association categorized U.S.-based hedge fund Elliott Management as a speculator looking for short-term gains. Elliott, the largest foreign investor in Samsung’s construction and trading arm with a 7.12 percent stake, has opposed the merger, saying it would dampen the value of shareholders. Korea Financial Investment Association cha
June 14, 2015
-
S. Korea's tour biz to be hit by MERS in peak season: acting PM
Acting Prime Minister Choi Kyung-hwan Sunday expressed concerns the ongoing spread of the MERS virus will eat into the local tourism industry during the summer peak season. As of Sunday afternoon, South Korea has reported 15 Middle East Respiratory Syndrome-related deaths, along with seven new cases, which has brought up the total number of patients to 145."We've seen and confirmed the plunge in visitors from abroad," Choi said during a meeting with related industry officials at Incheon Internat
June 14, 2015
-
Hyundai Merchant to sell stake in brokerage affiliate to Japanese firm
Hyundai Merchant Marine Co., South Korea's No. 2 shipping line, said Friday that it will sell off its stake in a brokerage affiliate as part of efforts to improve its financial health. In a regulatory filing, the shipping company said that its board has made the decision to sell 53,070,736 shares of Hyundai Securities to Buffalo Finance. They represent 22.4 percent of its outstanding shares. Buffalo Finance is a special purpose company established by Orix Corp., a Japanese financial giant
June 12, 2015
-
[Weekender] Burgeoning Korean pet industry going ever more premium
Every day, Lee-seul, Byul and Dal-rae get dropped off at a kindergarten in Seoul by their mom. Throughout the day, they play with their friends under the supervision of their teacher, who instructs them on how to properly behave at home. When evening approaches soon after snack time, the three wrap up their day and head home. This may sound like a typical trio of youngsters, but unlike other kindergartners they are all schanuzers, which Kim Mee-hyun, 57, says are “basically like her children.” A
June 12, 2015
-
South Korea to shut down oldest nuke reactor
The Ministry of Trade, Industry and Energy said Friday that it would urge the nation’s nuclear power plant operator to shut down its oldest nuclear reactor ― the 587-megawatt Kori-1 reactor in Busan.The Energy Ministry plans to deliver an official request to the state-run nuclear operator Korea Hydro and Nuclear Power not to extend the reactor’s lifespan beyond its scheduled expiration date on June 18, 2017, effectively shutting down the plant.The decision was reached at the ministry-led 12th Na
June 12, 2015
-
Business leaders meet China’s top politician
Zhang Dejiang, chairman of the Standing Committee of China’s National People’s Congress, is meeting South Korean business leaders to discuss their Chinese operations and future investment plans on his visit to Seoul this week. Zhang, who arrived in Seoul on Thursday for a three-day visit, met Hyundai Motor Group chairman Chung Mong-koo and LG Electronics vice chairman Koo Bon-joon. He, along with the Hyundai chairman, looked at the carmaker’s latest environmentally friendly vehicles, including t
June 12, 2015
-
Starbucks Korea chief highlights horizontal culture in management
Creating a horizontal culture in a Korean company is always easier said than done. But Starbucks Coffee Korea CEO Lee Seock-koo has managed to defy that norm. “Just call me SK … If my customers call me SK, I will be honored,” Lee said during an interview with The Korea Herald on Thursday. Sixty-five-year-old Lee is referred to as SK by 7,600 "partners" ― conventionally called staff in other firms ― of the company, without a prefix or job title. “I think calling people by first names can consolid
June 12, 2015
-
Samsung C&T seeks to delist DRs in Britain
Samsung C&T Co., a construction and trading arm of Samsung Group, said Friday that it is seeking to delist its depositary receipts (DRs) traded on the British stock market in an apparent move to stem a possible lawsuit there by a U.S. hedge fund over its attempt to merge with its sister firm. Samsung C&T said it will report its plan to the Financial Conduct Authority (FCA), which oversees the London Stock Exchange to delist its DRs, or certificates of stock ownership that are traded overseas.
June 12, 2015
-
Kaiu eyes global market with Korean-style baby jewelry
Korean-style baby jewelry, such as a necklace engraved with a baby’s footprint or a first-birthday ring, is gaining popularity among American grandparents as gifts for their grandchildren. Korean brand Kaiu (www.kaiujewlry.com) is at the forefront of this trend. Kaiu’s website at www.kaiujewelry.comKaiu, which started online, more recently made its way into Korea’s upscale department stores and posh shopping districts. Now, the company is expanding its presence in other Asian countries and Nort
June 12, 2015
-
Industries pledge to maintain investment despite virus outbreak
South Korea’s major business groups pledged Thursday to cooperate with the government to minimize the negative impact of the spread of Middle East respiratory syndrome on industrial activity amid growing concerns over a downswing in consumer and investor sentiment. The five major business lobby groups, including the Federation of Korean Industries, the Korea Chamber of Commerce & Industry and the Korea International Trade Association, said they would “handle the impact of the MERS outbreak undau
June 11, 2015
-
[Graphic News] Overseas construction orders of Korean firms surpass $700b
The cumulative overseas construction orders of South Korean builders has exceeded $700 billion since they first ventured abroad in 1965, data showed Thursday.According to the Ministry of Land and the International Construction Information Service, the amount of construction order commissions reported was $699.54 billion as of June 10. However, if Samsung C&T’s order of $694 million for the WestConnex construction in Sydney, Australia, on June 4 it included, the total reaches $700.23 billion.Sout
June 11, 2015
-
SK hynix enhances partnership in China
South Korea’s leading chipmaker SK hynix beefed up partnerships with Chinese customers during its 2015 SK hynix Mobile Solution Day event in Shenzhen on Wednesday. Around 300 officials from partner firms in China, including Huawei, Lenovo, and China Mobile, partook in the event themed “Creating the future mobile experience together.”The Korean chipmaker introduced its business strategies to cement its position as a leading player in the Chinese market. In line with the efforts to increase its pr
June 11, 2015