Most Popular
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No plan to let doctors with foreign licenses practice here anytime soon: PM
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Ador CEO's dismissal to be decided on last day of May
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[Graphic News] Beer the most favored alcoholic drink by Koreans
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Science Ministry expresses regret over Japan’s pressure on Naver
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Haeundae Beach to become sand art museum in late May
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Medical professors set to take day off amid protracted walkouts by junior doctors
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Hostilities get out of hand as YouTuber murders another outside courthouse
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Police officer jumps barefoot into drainage tunnel to save man
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Lee Sun-kyun's posthumuous film to hit theaters in August
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State-led adoption system to be established to ensure adoptees' well-being, minimize overseas adoption
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S. Korea ramps up efforts to deter Trump’s proposed tariffs on cars
The South Korea government has delivered its opposition to the Trump administration’s gestures to up tariffs on imported cars, claiming the tariff hike may negatively boomerang on the US economy, according to Seoul’s Trade Ministry on Sunday. Reflecting the growing anxiety of the local auto industry, Minister of Trade, Industry and Energy Paik Un-gyu visited Washington last week to deliver Seoul’s stance on the issue to the related US politicians and business representatives. During consecutive
July 1, 2018
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Korean Air's brand value slides over owner family scandal
The brand value of Korean Air Lines Co. fell sharply in the second quarter over a series of allegations involving the family that owns it, an appraisal website showed Sunday.The flag carrier's brand value ranked 36th in the April-June period, down from 11th a quarter earlier, according Brandstock, a South Korean market research firm that determines the rankings of local brands.The decline reflects the intense public fire directed at Korean Air Chairman Cho Yang-ho's family over a series of alleg
July 1, 2018
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Hyundai Heavy cuts third of its executives in offshore & engineering division
Hyundai Heavy Industries Co., the world's largest shipbuilder by sales, said Sunday it has slashed a third of its executives in its offshore and engineering division as new orders have dried up.The move came a month before the shipbuilder is due to suspend work at its offshore facilities shipyard. The suspension scheduled for August is the first in 35 years.Hyundai Heavy has lost out to Chinese and Singaporean rivals in offshore projects in recent years due to higher costs. The labor costs of Ch
July 1, 2018
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[Feature] Popularity of meal kits change Koreans’ cooking at home
Office worker Kim Dong-bin has recently picked up the hobby of cooking, and his secret recipe is ready-to-cook meal kits. “Meal kits made my cooking a lot easier, with fewer responsibilities,” said Kim. After work, he used to run to get groceries, prepare the ingredients, cook and do the dishes. “For me, cooking was a time-consuming process even before sitting down to eat. But now, I cook restaurant-quality food at 30 percent less price in just about 20 minutes,” said Kim, adding that the kits h
July 1, 2018
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Lotte Duty Free opens second airport outlet in Vietnam
Lotte Duty Free said Sunday it has opened a new airport duty free store in Vietnam‘s southeastern city of Nha Trang, its second airport outlet in the Southeast Asian state and seventh among its total overseas locations. Lotte Duty Free‘s second airport outlet in Vietnam’s Cam Ranh International Airport’s new terminal in Nha Trang. (Lotte Duty Free)The company has secured exclusive rights to run the store until 2028 over the 1,680 square-meter area at Cam Ranh International Airport’s new terminal
July 1, 2018
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Korea against Trump's proposed auto tariffs
South Korea has delivered its opposition to the United States' move to impose tariffs on imported autos through various channels as part of efforts to minimize the fallout for the local automotive industry, Seoul's trade ministry said Sunday.Paik Un-gyu, Minister of Trade, Industry and Energy, visited Washington D.C. from June 27-29 to meet US policymakers and business leaders and shared concerns over the Donald Trump administration's proposed tariffs on foreign autos, his office said. The polic
July 1, 2018
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Posco Daewoo signs W300b contract for gas fields in Myanmar
Posco Daewoo, the energy development unit of steelmaker Posco, has partnered with two global energy firms to jointly develop new gas fields in Myanmar to sustain gas production there, the company said Friday.The firm inked a 300 billion won ($268.1 million) deal with McDermott and BHGE on the phase two development of gas fields Shwe and Shwe Phyu in Myanmar.“By successfully completing the phase two development, Posco Daewoo will make efforts to retain stable gas production at the company’s cash
June 29, 2018
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Korea’s Transport Ministry delays decision on Jin Air license revocation
South Korea’s Transport Ministry announced Friday that it will delay its decision on whether to revoke the business license held by Korean Air's budget affiliate Jin Air over the firm’s board appointment of a non-Korean member of the controlling family that violated local transport laws. The Ministry of Land Infrastructure and Transport said that it would initiate a formal hearing on the Jin Air case attended by company officials, before reaching a decision on the issue, a process which could t
June 29, 2018
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[Best Brand] Wireless vacuum cleaner Swing heads overseas
Swing Corp., which was established in 2002 under a previous name Shinan Greentech, is bringing a new trend to the vacuum cleaner market by introducing new technologies by combining the functions of the wireless wet and dry vacuum. By prioritizing trust with customers over short-term gains, the company, led by its chief O Bu-jeon, has been operating on the philosophy of brining innovative technologies and services, officials explained.Swing began with its WLE-550, 770 brands to introduce its vacu
June 29, 2018
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[Best Brand] Lock&Lock, making minimal lifestyle, easier
Amid the trending minimalism across all industrial sectors, Lock&Lock is enabling a minimal kitchen life with modular-type food containers that make home kitchens look simpler and cleaner. Its latest Bisfree Modular Series containers are designed like Lego blocks to enable tidy, stable and space-efficient stacking. When stacked, there are no edges or locks sticking out, hence taking up minimal space in refrigerators. Bisfree Modular Series containers (Lock&Lock)The so-called “6-millimeter hidde
June 29, 2018
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Biogen ups stake in JV Samsung Bioepis to share management with Samsung BioLogics
Samsung BioLogics said Friday that Biogen has exercised its call option to raise its stake in their joint venture Samsung Bioepis to 49.9 percent, putting its long-noted intent to increase its ownership in the biosimilars development company into formal action.The development is expected to be taken into consideration by South Korea’s financial regulators, who are currently investigating a change in Samsung BioLogics’ accounting standards in 2015 that had factored in Biogen’s right to the Bioepi
June 29, 2018
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Jailed Lotte chief fends off elder brother's leadership challenge
SEOUL/TOKYO -- The jailed head of South Korean conglomerate Lotte won the support of Japanese shareholders in a vote on Friday to keep his seat in the boardroom of a crucial affiliate in the group's governance structure, cementing his grip on the retail giant from behind bars.Lotte Holdings Co., holding firm for Lotte's Japanese affiliates which also has major stakes in the group's Korean units, rejected the motion to dismiss Shin Dong-bin as a board member during its regular shareholders' meeti
June 29, 2018
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[Newsmaker] LG taps Koo Kwang-mo as new CEO
Koo Kwang-mo, the son of LG Group's late Chairman Koo Bon-moo, became a board member of the holding firm and its CEO on Friday, effectively becoming the fourth-generation leader of the family-controlled conglomerate.Koo, who was adopted by the late business tycoon so as to fulfill the LG family's tradition of handing over power to the chairman's eldest son, was named as the newest board member during Friday's shareholders' meeting of LG Corp. He was tapped by the board as CEO later in the day. K
June 29, 2018
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Lotte’s top executives head to Japan on motion to dismiss group chairman from board
A delegation of senior Lotte Group executives headed to Japan on Thursday to meet with the heads of the conglomerate’s Japanese counterpart that is taking steps to fire the group’s chief from its board of directors.Hwang Gag-gyu, vice chairman of Lotte Group, and three other senior executives of the conglomerate left for Japan, a day ahead of a shareholders’ meeting by Lotte Holdings. Shin Dong-joo, former vice chairman of Lotte Holdings, has proposed to dismiss Shin Dong-bin, his younger brothe
June 28, 2018
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[Video] E-mart’s new discount store attracts shoppers on opening day
Hundreds of shoppers flocked to the first branch of E-mart’s new discount store chain Pierrot Shopping on its opening day Thursday. Located at Coex in Samseong-dong, southern Seoul, the two-story shop garnered anticipation on the internet before its opening. Curious shoppers flooded the store, forming long checkout lines, while onlookers at the shopping mall turned their heads.(Shot and edited by Park Ju-young / The Korea Herald)The new discount store chain by Shinsegae, which runs discount reta
June 28, 2018
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Hyundai E&C starts sale of Byeolnae Stayone
Hyundai Engineering and Construction said Thursday it has started sales of Hillstate residential complex lots in Byeolnae, Namyangju, Gyeonggi Province, this month.The Stayone complex comprises three 46-story buildings with a total 578 households. Hillstate Byeolnae Stayone (Hyundai E&C)They are the highest building to sit in the planned new town of Byeolnae bearing the company’s premium Hillstate brand.Though not categorized as an “apartment,” the Stayone complex is registered as a residential
June 28, 2018
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FTC’s exclusive right to charge businesses likely to be maintained
South Korea’s antitrust watchdog is likely to retain its exclusive right to charge businesses despite prosecutors’ claim that it should be abolished with intent to expand their investigation power, based on a report by a special committee.On Thursday, the special committee dedicated to reforming the nation’s fair trade law announced the results of a three-month review. The highlight was whether to abolish the Fair Trade Commission’s exclusive right to charge businesses. Under the current law, pr
June 28, 2018
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[Advertorial] Samsung supporting single parents to be self-sustained
Samsung Electronics is helping single parents become self-sustained through mentoring and the provision of home appliances necessary for child rearing. Samsung Electronics executive Kim Hyun-sook (left) delivers Samsung dryer “Grande” to Aeranwon director on Tuesday. (Samsung Electronics)On Tuesday, employees of Samsung’s home appliance division visited Aeranwon, a non-profit organization for single parents, to deliver its large-sized dryer “Grande” and baby care washers, according to the tech f
June 28, 2018
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LG Chem kick-starts sales of Enbrel biosimilar in Korea
LG Chem, the chemicals and biopharma business unit of South Korea’s LG Group, said Thursday that it has officially begun selling its Enbrel-referencing biosimilar, Eucept, in Korea. Eucept is the first monoclonal antibody drug developed by LG Chem. It was approved by Korea’s Ministry of Food and Drug Safety in March for the treatment of conditions including rheumatoid arthritis, axial spondyloarthritis and psoriasis. As marketing and sales activities are now kicking off, LG Chem said it hope
June 28, 2018
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SK Innovation achieves ‘deep change’ focused on chemical business
SK Innovation, South Korea’s top oil refiner, has shifted the focus of its business to the chemical sector, securing a stable profit generator, the company said Thursday.The firm’s chemical business posted 284.8 billion won ($253.8 million) in operating profit, accounting for some 40 percent of its total earnings in the first quarter of this year, the company’s figures showed.Its chemical business looks set to surpass 1 trillion won in operating profit this year for the third consecutive year. S
June 28, 2018