Most Popular
-
1
[H.eco Forum] H.eco Forum calls for transition to clean, carbon-free energy
-
2
[Exclusive] LACMA admits it needs further research on donated Korean paintings
-
3
Russia likely offering N. Korea technology aid to expand threats to US, others: Pentagon official
-
4
[Bridge to Africa] Africa-Korea partnership: Why it matters for future
-
5
[Herald Interview] Korean adoptees embark on journeys to find roots
-
6
[Graphic News] Medical tourists visiting Korea reach record high
-
7
‘Gimflation’ in S. Korea as dried seaweed prices grow on rising global demand
-
8
Revote on Marine probe bill to be held next week
-
9
Yoon to resume diplomatic activity via 3-way summit with Japan, China
-
10
Illit’s agency sues Ador CEO Min Hee-jin for defamation
-
Samsung Electronics wins KITA’s top exporter award
Top exporters including Samsung Electronics, Pubg, L&F and Intellian Technologies on Friday received awards out of 1,264 exporters that have contributed to the nation’s achievement of $600 billion in exports this year. They received awards at an annual ceremony held by the Korea International Trade Association to mark the 55th Day of Trade. KITA CEO Kim Young-ju (Yonhap)The event was attended by President Moon Jae-in, Minister of Trade, Industry and Energy Sung Yun-mo, KITA CEO Kim Young-ju and
Dec. 7, 2018
-
P&G Korea to pull out of South Korea’s sanitary pad market
The Korean unit of Proctor and Gamble, a household and personal care goods company, is pulling out from the domestic sanitary pad market, amid dwindling sales after the company was hit by a scandal involving potentially toxic pads. P&G Korea has decided to withdraw its sanitary pad brand Whisper, citing changing market trends, the characteristics of Korean consumers and its business portfolio. (P&G Korea)However, the company said it would not be leaving the diaper market, adding that it would s
Dec. 7, 2018
-
Jeju's for-profit hospital protests ban on domestic patients: officials
The Greenland International Medical Center, conditionally approved earlier this week as South Korea's first for-profit hospital, has expressed an intent to take legal action over the Jeju provincial government's decision to ban South Korean patients from using the hospital, officials said Friday.Gov. Won Hee-ryong of the Jeju Special Self-Governing Province on Wednesday announced the approval of the Chinese-owned medical center as a for-profit hospital on condition that it caters only to foreign
Dec. 7, 2018
-
Daewoo Shipbuilding wins W444b contract for submarine rescue vessel
Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, said Friday that it has won a 444 billion-won ($397 million) deal to build a submarine rescue vessel.Under the deal with the country's Defense Acquisition Program Administration, Daewoo Shipbuilding will deliver the vessel by the end of 2022.(Yonhap)It will be equipped with a deep-submergence rescue vehicle, which can operate at depths of up to 500 meters.The ship is designed to rescue sailors trapped in submarines, provide nav
Dec. 7, 2018
-
More hospitality businesses depending on loans from non-banks: data
Close to 30 percent of accommodations and restaurants taking out loans received them from non-banking institutions in the third quarter this year, data from the Bank of Korea showed Friday, raising concerns about their risks from interest rate fluctuations.The loans by the hospitality industry totaled 54.55 trillion won ($48.64 billion) in the quarter ended in September, up 10.5 percent from a year ago. Among the lending, 16.33 trillion won was borrowed from non-banking institutions, a gain of 2
Dec. 7, 2018
-
FM Global approves LG Hausys’ phenolic foam insulation as fire-protective
Construction material supplier LG Hausys’ phenolic foam, a high-functioning semi-noncombustible insulation, has been certified as fire-protective by global standards, the company said Thursday.The firm said its PF insulation received Factory Mutual Approval certified by FM Global on criteria testing fire-resistance for ceiling boards and wall panels. FM Global is an international property insurance and loss prevention engineering company based in the United States. LG Hausys engineers check phe
Dec. 7, 2018
-
No more for-profit hospitals under current administration: health minister
The incumbent Moon Jae-in administration will never authorize the opening of another for-profit hospital, South Korea's welfare minister said Thursday, amid brewing controversy surrounding the first-ever such approval by the Jeju provincial government.On Wednesday, the Jeju Special Self-Governing Province gave a green light to a new Greenland International Hospital on condition that it caters only to foreign patients. Health and Welfare Minister Park Neung-hoo (Yonhap)"This approval is a unique
Dec. 6, 2018
-
Samsung Welfare Foundation names tycoon's daughter as new chief
Samsung Welfare Foundation said Thursday it has named Lee Seo-hyun, a daughter of hospitalized Samsung Electronics Chairman Lee Kun-hee, as its new director.The new head of Samsung Welfare Foundation also stepped down from her position as president of the fashion division of Samsung C&T Corp., the de facto holding company of the family-controlled conglomerate Samsung. She will start her four-year term on Jan. 1. Lee Seo-hyun (Yonhap)Seo-hyun is the second daughter of Kun-hee, who has been bedrid
Dec. 6, 2018
-
SK Group names first new CEO for SK hynix in six years
SK Group on Thursday appointed Lee Seok-hee as the CEO of SK hynix in its annual reshuffle, alongside new leaders named for SK Gas, SK Engineering & Construction and SK Global Chemical. “Lee has the leadership and world-class expertise in chipmaking, and has taken the posts as the heads of SK hynix’s R&D division, head of DRAM business unit, and COO. All in all, he is viewed as the right figure to secure sustainable competitiveness,” said SK Group in a statement. Park Sung-wook, who had led the
Dec. 6, 2018
-
Some owners of conglomerates shy away from responsibility: watchdog
Members of families that control South Korea's eight conglomerates opted not to register themselves as board members in their affiliates, the antitrust watchdog said Thursday, a loophole seen as shying away from managerial responsibilities.The Fair Trade Commission said that as of May, none of the owners and their grown children were board members of affiliated companies of retail giant Shinsegae Group, food and entertainment giant CJ Group and six other conglomerates. (Yonhap)The watchdog said
Dec. 6, 2018
-
Nuclear industry decline inevitable global trend: expert
The global nuclear industry has been declining in the face of a decreasing number of new reactors in recent years, leaving more room for growth in the decommissioning sector over the long term, a renowned energy consultant said Thursday. Mycle Schneider, the lead author of the World Nuclear Industry Status Report (WNISR), said the global energy landscape has been shifting toward renewable energies and that building new nuclear reactors is simply not competitive any more. Mycle Schneider, lead a
Dec. 6, 2018
-
7 Chinese firms rank among top 10 innovative biz entities in Asia: survey
Seven out of the 10 most innovative tech companies in the Asia-Pacific region were from China, with four South Korean firms making it to the top 100 such enterprises, a survey by a global consulting firm showed Thursday.According to the "2018 Technology Fast 500 Asia Pacific" by Deloitte, Chinese open platform real estate listings provider Ke.com took the top spot by logging a 32,179 percent sales spike over the past three years. (Yonhap)Including Ke.com, China claimed the majority of the top 10
Dec. 6, 2018
-
[Weekender] Dropping in for a quick massage in Seoul: Is it worth it?
In most neighborhoods in Seoul, it’s easy to spot signs and posters advertising “massage shops.” Varying in type and pricing, these massage parlors cater primarily to office workers who work desk jobs and are looking for ways to unwind their stiff or aching bodies. Though most are independently owned, a number of franchise massage brands, such as Body & Foot and The Foot Shop, have grown in popularity for their widespread accessibility and affordability. At these shops, a standard full-body mass
Dec. 6, 2018
-
[Weekender] Market for massage expands with more accessibility
To tackle pain in her back and hip, graduate school student Lee Yeon-hee uses a lacrosse ball every night to give herself a massage. “After rolling my back on this small massage ball for about 10 minutes, I can feel that the muscles are relaxed. I save both time and money by doing this simple exercise every night,” she said.Lee is one of a growing number of people purchasing massage products that can be used at home. According to online shopping website G-market, sales of such products jumped 40
Dec. 6, 2018
-
Software maker Hancom eyes smart city technologies
Hancom Inc., a South Korean software maker, said Thursday that it will target various technologies ranging from the Internet of Things to artificial intelligence that can be used in the building of smart cities, as the company's next profit generators.The homegrown software firm said it aims to generate more than 50 percent of its revenue from such new business opportunities by 2020, based on the technologies that shape the ongoing fourth-industrial revolution. Kim Sang-cheol, CEO of Hancom Inc.
Dec. 6, 2018
-
Korea expected to maintain stable power supply in winter
South Korea is expected to maintain a stable power supply and sufficient reserves this winter, the energy ministry said Thursday.The Ministry of Trade, Industry and Energy expected the maximum electricity demand to range from 88 million to 91.6 million kilowatt based on the average winter temperature over the past five decades. (Yonhap)The reserve electricity rate is expected to stay over 11 million kW during the coldest part of winter, the ministry said, noting an additional 7.28 kW reserve pow
Dec. 6, 2018
-
Hankook Tire expands overseas in annual reshuffle
Hankook Tire has set up new operations overseas as part of its reshuffle aimed at strengthening business outside of the country, the company said Wednesday.New overseas businesses to take effectuation starting Jan. 1 are a division that oversees the Asia-Pacific, Middle East and Africa regions, corporate bodies in Austria, Indonesia, the United Arab Emirates and Vietnam and branches in Thailand and Serbia. (Yonhap)A “car life division” in charge of sales of passenger vehicle tires and truck tire
Dec. 5, 2018
-
Korea, China, Japan to discuss regional free trade deal in Beijing
Representatives of South Korea, China and Japan are to discuss a regional free trade deal in Beijing from Thursday to accelerate negotiations on market liberalization for products, services and investment, the Seoul government said Wednesday. The two-day negotiations will be attended by senior trade officials representing the three nations, who will discuss ways to open up goods and services markets and lower other trade barriers, the Ministry of Trade, Industry and Energy said. This is the 14th
Dec. 5, 2018
-
Posco C&C completes color steel plant in Pohang
Posco Coated & Color Steel Co. has completed the construction of a plant in Pohang, North Gyeongsang Province, that will manufacture color-coated plates used in the construction industry and in the production of home appliances, the company said Wednesday. Posco C&C President Ha Dae-ryong and Pohang Mayor Lee Gang-deok (in order, fifth from left) cut tape during completion ceremony, Dec. 5, 2018 (Yonhap)With the new plant, the Posco affiliate can now produce premium-quality ultraviolet curing pl
Dec. 5, 2018
-
Local builders speed up restructuring to brace for industry slump
Local builders are resorting to early retirement plans and large-scale manpower reshuffles to weather a possible industry-wide slump going forward, people in the sector said Wednesday.Samsung C&T has been carrying out staff restructuring over the past two years and recently opened an early retirement package to employees who have been with the company for four years or longer. (Yonhap)The company has already reduced its workforce size from 7,962 in 2015 to 5,596 in the first half of this year, h
Dec. 5, 2018