Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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Seoul alerts overseas missions to NK terror threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Hyundai Heavy labor union demands 'no layoffs' in Daewoo Shipbuilding takeover
The labor union at Hyundai Heavy Industries Co., the world's largest shipyard by sales, demanded Monday that the company provide job guarantees to its employees if it wants to proceed with its push to buy a smaller local rival.Last month, state-run Korea Development Bank signed a temporary memorandum of understanding with Hyundai Heavy Industries to sell its controlling stake in rival Daewoo Shipbuilding & Marine Engineering Co. (Yonhap)Daewoo Shipbuilding's labor union has expressed worries tha
Feb. 11, 2019
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Valentine's Day gifts switching from DIY to imports
Valentine's Day chocolate givers are switching back to buying packaged sweets instead of making their own, according to sales records from a leading online mall on Monday.Auction, an open market internet mall, tracked chocolate sales in the Jan. 25-Feb. 7 period from 2015 to 2019. Results showed that 41 percent of the sales were of do-it-yourself products in 2015.(Yonhap)The figure slid to 11 percent this year. By comparison, purchases of finished products rose from 39 percent to 51 percent.Sale
Feb. 11, 2019
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US preliminarily determines 59.09% dumping margin for S. Korea’s NEXTEEL
The US Commerce Department has preliminarily found that South Korean steelmaker NEXTEEL Co. and SeAH Steel Corp. had weighted average dumping margins of 59.09 percent and 26.47 percent, respectively.The determination was for welded line pipe from the two South Korean steelmakers for the period from Dec. 1, 2016, through Nov. 30, 2017, according to the preliminary results of the review.(Yonhap)The results came nearly a year after the Commerce Department initiated an administrative review of welde
Feb. 10, 2019
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LG Uplus seeks to acquire Korea’s biggest cable TV operator
With South Korean telecom firm LG Uplus moving to acquire the country’s biggest cable TV operator CJ Hellovision, attention is on whether the deal will pass regulatory muster, as local service providers struggle to compete against global streaming giants’ increasing presence in the local pay TV market. According to industry and banking sources here, LG Uplus will convene a board meeting this week to approve the purchase of some 54 percent stake in CJ Hellovision from its holding company CJ E&M.
Feb. 10, 2019
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Samsung expects full-blown 8K competition from 2020
It’s the course of nature for the TV industry to continue developing bigger screens with higher resolutions, according to Han Jong-hee, Samsung Electronics’ president of visual display business. The tech giant said it will meet consumer demand for bigger screens and higher resolution through its two-track strategy of quantum-dot light-emitting diode TV and micro-liquid crystal displays. Han Jong-hee, Samsung Electronics’ president of visual display business (Samsung Electronics)This year, Samsun
Feb. 10, 2019
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Hyundai Glovis opens new office in Vladivostok
Hyundai Glovis, a logistics unit of South Korean auto giant Hyundai Motor Group, said Friday it has opened an office in Vladivostok as it moves to expand its presence in Russia‘s far eastern region. The new office will act as a bridgehead, as the city is located at the western end of the Trans-Siberian Railway that connects Russia from east to west. (Yonhap) It is Hyundai Glovis’ third office in Russia, following ones set up in Saint Petersburg and Moscow. The company said it aims to use the n
Feb. 8, 2019
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Growth rate of drugstores in Korea slows
The number of newly opened health-and-beauty shops in Korea increased 7.7 percent on-year in 2018, a much slower pace than that of recent years, according to data compiled by industry insiders. The number of newly opened drugstores in Korea had surged between 30 and 40 percent yearly from 2015 to 2017. However, last year’s single-digit growth appears to indicate that the market has reached saturation, industry insiders said. (Yonhap)The number of Lalavla stores operated by GS Retail even decrea
Feb. 8, 2019
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Samsung Heavy Industries mulls KDB’s offer of DSME acquisition
Samsung Heavy Industries is reviewing a letter from the Korea Development Bank asking Samsung’s shipbuilding arm to consider acquiring ailing ship maker Daewoo Shipbuilding & Marine Engineering, the company said Friday.KDB is the largest shareholder of DSME and has been accelerating efforts to sell the company to other Korean shipbuilders. “Although it is true the management is discussing the matter, now is not the time to disclose the direction of the review,” said an official from Samsung Heav
Feb. 8, 2019
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NPS to request Namyang Dairy to expand dividend payouts to investors
South Korea’s state pension fund has decided to exercise its shareholder rights over Namyang Dairy, a major dairy producer here, by pushing the firm to increase its dividend payouts to investors. The National Pension Service, the country’s biggest institutional investor, on Thursday said it will formally ask Namyang Dairy to establish an independent committee for dividend policies and regulatory disclosures.The move comes amid mounting criticism that the dairy firm has been paying small dividend
Feb. 8, 2019
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LG Uplus fined W3.1b for tax evasion
South Korean mobile carrier LG Uplus will face hefty fines issued by the nation’s tax authority for not paying value-added tax for some of its smartphone sales, according to the firm Friday. The National Tax Service recently imposed a fine of 3.1 billion won ($2.7 million) on the firm for not paying value-added tax in the process of selling smartphones to US forces in Korea over five years since 2013. (Yonhap)The 3.1 billion won fine is only for the year 2013, and the penalty is expected to be
Feb. 8, 2019
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Some W200b worth of telecom mileage points lost in 6 years: lawmaker
Mobile subscribers in South Korea have lost nearly 200 billion won ($178 million) worth of mileage points accumulated over six years, a lawmaker said Thursday, as many consumers remain uninformed on how to redeem benefits. Citing a report from the Ministry of Science and ICT, Rep. Noh Woong-rae of the ruling Democratic Party of Korea noted that mileage points worth 190.5 billion won had gone down the drain since 2013 because subscribers failed to use the benefits in time. Provided as a perk to
Feb. 7, 2019
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KT plans to expand overseas network to improve Netflix connection
Korea’s major telecom and internet provider KT is seeking to expand its overseas network to improve internet connection for subscribers of Netflix, as an increasing number of domestic subscribers are suffering from poor video quality amid the surge in users. According to industry sources, KT is planning to ratchet up its network capacity by the month-end. The firm declined to comment on exactly when the project will be completed and increase in capacity. KT There are mounting complaints by Ne
Feb. 7, 2019
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Fashion goods popular for relieving holiday stress: survey
Four in 10 married South Koreans said they would like to receive gifts related to fashion from their spouse to relieve holiday stress, a survey showed Thursday.According to the survey conducted by an online shopping site Auction, 71 percent of some 500 respondents said they wish to give a present for their spouse who worked hard over the holiday to prepare for family gatherings and traditional rituals. (Yonhap)Fashion gifts including clothing, bags and jewelry took up 39 percent, being the most
Feb. 7, 2019
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Daewoong Pharma stocks fluctuate upon Nabota’s FDA approval
Daewoong Pharma stocks fluctuated Thursday upon market opening following reports during the Lunar New Year holiday that its botulinum toxin drug Nabota has gained approval from the US Food and Drug Administration. When the market opened at 9 a.m. its shares jumped 10,000 won ($9) to 203,000 won from 193,000 won during the previous session. It quickly fell back to the 190,000 won range, and the price continued to fluctuate through the day before finishing at 204,000 won at market close, up 5.7 pe
Feb. 7, 2019
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[Herald Interview] Netmarble eyes growing business in Thailand
BANGKOK, Thailand -- There’s a reason why Korean game makers are foraying into Thailand. The Southeast Asian nation’s game market is currently valued at 500 billion won ($445 million), with an annual growth rate of 20 to 30 percent indicating strong buying power. Netmarble Thailand accounts for 3 percent of the total annual revenue of Netmarble, one of the early Korean pioneers in the Thai market. The Korean games company recorded 2.4 trillion won in revenue in 2017. “The figure should b
Feb. 7, 2019
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[Going Renewable (1)] Korea steps in right direction for renewable energy, but challenges await
The Korea Herald is publishing a series of articles looking into the South Korean government and businesses quest toward renewable energy. -- Ed.One year on since the Moon administration vowed to put more emphasis on renewable energy, it still has to address controversy over energy prices and its decision to do away with nuclear power, as well as conflicts with residents near renewable energy facilities. In December 2017, the government announced “Renewable Energy 3020,” aiming to increase renew
Feb. 7, 2019
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Budweiser releases new slogan: King of Beers
US beer brand Budweiser recently released a TV commercial touting itself as the “King of Beers,” Korean distributor Oriental Brewery said.The advertisement features close-up shots of the beer and its logo, as well as the slogans “The King is Here” and “King of Beers,” with an inverted beer cap resembling a crown. The campaign aims to highlight the smooth and clean taste of Budweiser lager and emphasize its worldwide brand value, the company said.(OB)The commercial encourages consumers to be conf
Feb. 7, 2019
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[Photo News] Transparent screen
LG Electronics’ transparent organic light-emitting diode signage is introduced at Europe’s biggest commercial screen event, Integrated Systems Europe 2019, in Amsterdam, the Netherlands. LG’s see-through screens serve various functions, such as digital windows, mirrors and touch-screen panels. The ISE 2019 runs from Tuesday through Friday. (LG Electronics)
Feb. 6, 2019
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Refiners' weak earnings may continue into Q1
South Korean refiners, led by SK Innovation Co., may see their weak earnings continue into the current quarter due to a sharp falloff in oil prices and a narrowing refining margin, industry sources said Tuesday.SK Innovation, the No. 1 player, and other refiners, including GS-Caltex Corp. and S-Oil Corp., reported weaker-than-expected earnings in the fourth quarter of last year due to narrowed margins from their refining business.A drop in oil prices leads to a rise in valuation losses of their
Feb. 5, 2019
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Hyundai Oilbank to import 2m barrels of Iranian condensate in Feb.
Hyundai Oilbank Co., a major South Korean refiner, plans to import 2 million barrels of Iranian condensate this month, a person familiar with the issue said Monday.It would be Hyundai Oilbank’s first imports of ultralight crude since September, two months before the United States imposed the most biting sanctions ever on Iran. US President Donald Trump abandoned a landmark 2015 nuclear deal with Iran in May.(AFP)Still, the US has allowed South Korea and seven other countries to continue to buy I
Feb. 4, 2019