Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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China outpaces Korea in smaller OLED shipments for 1st time
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Liberal bloc moves to rewrite student rights ordinance
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15 countries, including Korea, to sign trade megadeal
Leaders from 15 Asia-Pacific countries, including South Korea, China, Japan, Australia and New Zealand, declared that they had reached agreement on all 20 chapters of a trade megadeal and expressed their willingness to sign it in 2020, officials said Monday. Called the Regional Comprehensive Economic Partnership, it is in essence a massive regional trade deal among the 10 members of the Association of Southeast Asian Nations and the six countries with which ASEAN has free trade agreements -
Nov. 4, 2019
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46 foreign companies receive government awards for investment
Forty-six foreign companies received government awards for their investments in advanced technologies and for creating jobs in South Korea, during an annual event for foreign companies held Monday. Foreign Company Day, hosted by the Industry Ministry and the Korea Foreign Company Association, or FORCA, is a ceremony that has taken place since 2001 to recognize contributions to attracting foreign investment here. The 46 awardees include the Korean arm of US-based firm Air Products and Chemi
Nov. 4, 2019
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[Foreign Execs in Korea] Taking Korean defense technology to the world
The decadeslong standoff between the two Koreas has presented a struggle for Asia’s fourth-largest economy, but it has, ironically from a business perspective, ensured the continuous development of its defense industry. One of the driving forces that has led the development of South Korea’s defense technology is Hanwha, a conglomerate that started as a gunpowder supplier in the then war-torn country 67 years ago. It has since evolved into an energy-to-chemicals empire, but the defens
Nov. 4, 2019
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KB Kookmin Bank enters telecom biz with cheaper subscription plans
Seeking to diversify its portfolio, South Korea’s KB Kookmin Bank said Monday it has launched a low-cost subscription plan for telecom services. Smartphone users here can register for the company’s LiveM subscription plan on a trial basis. It plans to provide full-fledged, nationwide services next month. Subscribers can also enjoy the ultrafast 5G wireless services on compatible smartphones such as Galaxy Note 10, according to KB Kookmin Bank. “We expect the convergence of
Nov. 4, 2019
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KT plans to innovate IPTV with AI curation, VR contents
Korean telecom giant KT on Monday pledged to transform its internet TV service with the technologies of artificial intelligence and virtual reality to improve the company’s standing in the paid TV market. During its press conference held in downtown Seoul, KT announced a plan to overhaul its IPTV platform to meet the consumers’ changing needs. According to KT, the innovation plan for IPTV service consists of three components: an AI-based recommendation system, VR-assisted streaming o
Nov. 4, 2019
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Hyundai Heavy to receive W1.4tr in proceeds from stake sale in refining unit
Hyundai Heavy Industries Holdings Co., the holding company of South Korea's top shipbuilding conglomerate Hyundai Heavy Industries Group, said Monday it will receive 1.4 trillion won ($1.2 billion) in proceeds next month from the sale of a stake in its refining unit.In April, Hyundai Heavy signed a deal with Saudi Aramco to sell a 17 percent stake in Hyundai Oilbank Co. to the world's largest crude exporter to improve its financial structure. The deal also includes the Saudi oil firm holdi
Nov. 4, 2019
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Budget airlines upgrade in-flight services, diversify routes
Amid fierce competition, Korean low-cost carriers are seeking to attract more passengers by upgrading their in-flight services and diversifying routes. They had previously focused on no-frills cheap flights without meals and entertainment. But in early October, Air Seoul -- under the country’s No. 2 full-service carrier Asiana Airlines -- began offering in-flight movies, a first for a low-cost carrier here. The LCC operates the Airbus 321-200, which has personal screens for each seat, unli
Nov. 3, 2019
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SDI meets US safety standard for ESS fire prevention test
South Korea’s Samsung SDI has become the first Lithium-ion battery manufacturer to meet the safety standard for fire prevention test developed by a US certification firm, the battery maker said Sunday. According to the company, Samsung SDI last month fulfilled the rack-level safety standard of UL 9540A’s fire prevention test for Energy Storage System. The evaluation system was developed by the US-based safety certification company UL. Samsung SDI stressed it had gained UL recognition
Nov. 3, 2019
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S. Korea's trade surplus with US on decline since revised FTA
South Korea's trade surplus against the United States has decreased nearly 7 percent since the two countries kicked off a revised free trade agreement earlier this year, data showed Sunday.Asia's No. 4 economy's trade surplus against the US reached $10 billion over the January-October period, down 6.8 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.The revised FTA went into effect on Jan. 1 to reflect Washington's demands in the auto sect
Nov. 3, 2019
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USFK: No objection to S. Korea's Saemangeum solar farm project
US Forces Korea (USFK) said Friday it does not oppose South Korea's project to build a floating solar power plant near the Saemangeum reclamation area on the west coast amid speculation that those facilities might affect fighter pilots.On Thursday, the local daily Chosun Ilbo reported that the USFK raised concern that light reflecting from solar panels might disrupt its flight operations, but the Korea Hydro & Nuclear Power Co. rejected such complaints."After careful consideration and e
Nov. 1, 2019
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Kakao, SK added most affiliates in past 3 months: FTC data
IT giant Kakao and the nation’s third-largest conglomerate SK Group saw the biggest increase in their number of affiliates in the past three months among the country’s largest business groups, data showed Friday, reflecting their aggressive expansion plans. According to data released by the antitrust watchdog Fair Trade Commission, Kakao took 17 affiliates under its wing from August to the end of October, the highest number among other large businesses in the three-month period. SK G
Nov. 1, 2019
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LG Electronics makes Series A investment in US’ Washlava
LG Electronics said Friday it has made a Series A investment in laundry startup Washlava. Series A refers to the first stage of fundraising for a startup after its foundation, as it gears up for full-fledged business operations. Established in 2017, Washlava is based in Tampa, Florida. It provides a mobile platform for reservations, services and payment for the use of washing machines and dryers at dormitories, hotels and laundromats. LG Electronics has participated in the Series A round o
Nov. 1, 2019
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Samsung vice chairman renews corporate vision for next 50 years
Celebrating the 50th anniversary of Samsung Electronics on Friday, Vice Chairman Lee Jae-yong vowed for another constructive 50 years in business to reach a full centennial milestone.“The past 50 years has been possible thanks to all your dedication. Let us now freely dream and imagine new possibilities over the next 50 years,” Lee said in recorded video remarks to some 400 employees gathered for an anniversary ceremony at Samsung Digital City in Suwon, Gyeonggi Province.S
Nov. 1, 2019
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Europeans perceive Korea as land of games: Com2uS
A survey targeting some 1,500 Europeans revealed that the majority perceived computer and mobile games as the most representative cultural content of South Korea, mobile games firm Com2uS said Friday. Com2uS is the Korean developer behind the mobile game Summoners War, which was played at the inter-country esports friendly match during the Korea-Sweden summit in June in Stockholm, Sweden. At the Summoners War World Arena Championship 2019 finals in Paris on Oct. 26, Com2uS conducted the su
Nov. 1, 2019
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Boeing opens technology center in South Korea
Boeing Co. said Friday it has opened an engineering and technology center in South Korea to promote partnerships with local companies. The Boeing Korea Engineering & Technology Center is Boeing's 7th overseas technology center, and the 40-person center will be fully under the control of the US aircraft manufacturer, the company said in a statement. Boeing has five technology centers in the United States. The company is planning to secure local talent in Korea and strengthen partnerships with
Nov. 1, 2019
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South Korea’s exports decline for 11 straight months
South Korea’s exports have declined for the 11th consecutive month due mainly to a slowdown in demand for chips and the weak global economy, data showed Friday. According to the Trade Ministry, the nation’s exports stood at $46.7 billion last month, down 14.7 percent on-year, the biggest decline this year. Exports have fallen since December last year, and the decline has been double-digit for five months since June this year. By product, exports of chips shrank 32.1 percent, whi
Nov. 1, 2019
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Finance minister voices regret over indictment of ride-hailing executives
South Korea's finance minister on Thursday expressed regret over a recent indictment of executives at the operator of rental van-hailing service Tada.On Monday, prosecutors indicted Lee Jae-woong, chief executive of car-sharing app SoCar, and Park Jae-uk, CEO of SoCar's subsidiary Value Creators & Company, calling the app-based ride-hailing business illegal."It's regrettable that (prosecutors) brought the issue to the court before win-win solutions could fully work," Finance Minist
Oct. 31, 2019
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Ministry to advance safety probe, repair of Boeing 737 NGs in Korea
South Korean air carriers will be subject to a government safety probe within the next month, a move by the Transport Ministry to improve safety checks in the wake of global concerns over component malfunctions of Boeing 737 Next Generation aircrafts.Following the Ministry of Land, Infrastructure and Transport’s announcement of the measures on Wednesday, a total of 150 B737 NG aircrafts operated in the country are to undergo an emergency safety inspection by the end of November. The i
Oct. 31, 2019
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Korea to shorten travel time with underground roads, high-speed trains by 2030
South Korea is seeking to reduce travel time in heavily congested metropolitan areas by building deep underground roads and adding new high-speed train services by 2030, officials said Thursday.The Ministry of Land, Infrastructure and Transport announced its vision for “metropolitan transportation 2030,” presenting three goals: to shorten travel time in major regional hubs to 30 minutes, cut down travel costs by up to 30 percent, and reduce by 30 percent the time people spend transfe
Oct. 31, 2019
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Paradise Casino Walkerhill holds event for Mongolian students in Seoul
Paradise Casino Walkerhill’s chief Park Byeong-ryong held a community event with Mongolian students living in Korea, to improve their occupational aptitude and career trajectory, the company said Thursday. According to the foreigner-only casino operator, its employees and 60 students from International Mongolia School gathered at vocational school KidZania in Seoul on Wednesday to participate in job-searching programs. The students received advice about their career paths through
Oct. 31, 2019