Most Popular
-
1
Blinken calls on China to press N. Korea to end its 'dangerous' behavior
-
2
Tensions heighten ahead of first president-opposition chief meeting
-
3
New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
-
4
Seoul to provide housing subsidy to married couples with newborns
-
5
Rapper jailed after public street fight with another rapper
-
6
[KH Explains] No more 'Michael' at Kakao Games
-
7
Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
-
8
Woman gets suspended term for injuring boyfriend with knife
-
9
Med schools expect 1,500+ new admission slots next year
-
10
[Weekender] How DDP emerged as an icon of Seoul
-
Air purifier sales forecast to reach 3 mil mark this year
Air purifiers are the most wanted home appliance electronics this year amid escalating concerns over bad levels of fine dust and indoor air pollution, industry watchers said, forecasting its sales to reach up to 3 million units by the end of this year.Sales of air purifiers have been increasing since 2014. A total of 1.4 million units of air purifiers were sold last year, up from 1 million in 2016, 870,000 units in 2015 and 500,000 in 2014. The sales rise is expected to continue as the South Kor
April 8, 2018
-
Samsung head Lee Kun-hee down 7 notches in global wealth ranking
Lee Kun-hee, the head of South Korea's largest business group Samsung, saw his ranking in the global list of billionaires decrease seven notches over the past five months amid his prolonged hospitalization, an index by an international news agency showed Sunday.According to the Bloomberg Billionaires Index, Lee was ranked at 44th place among the world's richest people, from 37th in November of last year. Bloomberg estimated Lee's assets at around $20 billion.The business tycoon was the only Sout
April 8, 2018
-
Samsung heir Lee Jae-yong returns from first business trip since release
Samsung Electronics Vice Chairman Lee Jae-yong returned to Seoul from a 16-day business trip to Europe and North America early Saturday morning, as the industry remained abuzz over when the recently-released heir would officially return to work.At around 6 a.m. Lee was spotted arriving through Incheon International Airport’s Terminal 2, after the trip known to have been aimed at restoring relations with business partners and catching up on latest tech trends.Lee didn't make any answers to questi
April 7, 2018
-
GS E&C’s operating profit surge six-fold in Q1
GS Engineering & Construction Co., a major South Korean builder, said Friday that its first-quarter operating profit jumped to more than six times its profit a year earlier.For the three months ending March 31, the company reported 380.4 billion won (US$356 million) in profits, up from 59 billion won the previous year, the company said in a statement. The sharp jump in operating profit was driven by steady and solid gains in housing projects and one-off gains worth 180 billion won from its over
April 6, 2018
-
Celltrion remains hopeful for US approval of Herzuma, Truxima despite initial FDA turn-down
South Korean biopharma company Celltrion expects to obtain US approval for its two biosimilar drugs referencing Roche’s Herceptin and Rituxan by the year’s end, despite the US Food and Drug Administration’s initial turn-down of the two drugs this week. Celltrion said Thursday that the US FDA has issued Complete Response Letters for two of its proposed biosimilars -- Herzuma, referencing Herceptin and Truxima, referencing Rituxan -- and requested supplementary data on the products. A CRL indicate
April 6, 2018
-
China screens first Korean films since ban on Korean content during THAAD feud
BEIJING -- Theaters in Beijing this week began to screen the first South Korean films since the two countries' diplomatic feud over Seoul's deployment of a missile defense system led to a Chinese ban on imports of Korean films in 2016, in a sign of a possible restoration of full-fledged exchanges. Seven Korean films have been invited to the upcoming Beijing International Film Festival slated for April 15-22, including Director Hong Sang-soo's 2017 releases -- "Claire's Camera" and "The Day After
April 6, 2018
-
Chicken franchise Kyochon to charge separate delivery fee
Kyochon Chicken, the biggest fried chicken franchise in South Korea, will begin charging a fee of 2,000 won ($1.80) per delivery, starting May 1.Kyochon said it is currently in talks with all franchise members across the nation to put the plan into action. (Kyochon)The company decided to charge the fee, as higher delivery costs are hurting the profitability of its franchise restaurants. The Korean government’s decision to raise the minimum wage has imposed burdens on business owners here, leadi
April 6, 2018
-
Hite Jinro's light soju to be sold in the Philippines in April
Hite Jinro Co., a major South Korean liquor maker, on Friday said that one of its soju products will hit store shelves in the Philippines in the coming days as it strives to expand into the vast Southeast Asian market.Jinro Light, which has an alcohol content of 17 percent, will be available in the Philippines starting early this month, company spokeswoman Nho Eun-jung said, without elaborating on a specific time frame. Soju is a traditional distilled liquor that has been gaining popularity in f
April 6, 2018
-
Prosecutors raid Samsung firm over alleged attempt to sabotage unions
Prosecutors on Friday raided Samsung Electronics Service as they reopened an investigation into allegations that Samsung Group sabotaged the establishment of labor unions in its affiliated companies.The Seoul Central District Prosecutors' Office said investigators were sent to the headquarters of the after-sales service arm of Samsung Electronics in Suwon, Gyeonggi Province.The prosecution in February secured thousands of pages of documents that contain details regarding the top conglomerate's a
April 6, 2018
-
SK Lubricants plans to go public in May
SK Lubricants, a wholly-owned lubricant unit of SK Innovation, submitted a report to the government this week as its first step to go public in May, the company said Thursday.The company expects to secure between 1.2 trillion won ($1.1 billion) and 1.5 trillion won through the initial public offering, which would be the biggest IPO size this year so far.Earlier this week, board members of SK Innovation agreed to offer 12,765,957 shares out of its 40 million outstanding shares. SK Lubricants also
April 5, 2018
-
Shinsegae eats up Korea’s retail industry with aggressive expansion
Since 2016 when Shinsegae Vice Chairman Chung Yong-jin separated and began to run the management of E-Mart, a retail unit of Shinsegae group, E-Mart and its private brand products have never been so ubiquitous in the everyday lives of South Koreans. Shinsegae Group Vice Chairman Chung Yong-jin (Yonhap)While the number of E-Mart stores decreased by two to 145 in 2017 compared to the previous year, its product lineups became more diversified with launches of packaged ready-to-eat food brand Peacoc
April 5, 2018
-
Korea to seek trade diversification from US, China
South Korea aims to become the world’s fourth-largest exporter by 2022 with a new trade strategy to diversify its export destinations beyond the US and China, join the Trans-Pacific Partnership and foster digital trade, according to the government on Thursday. Under the government’s new trade strategy, Korea aims to reach around $790 billion in export volume in four years to become the fourth-largest exporter following China, the US and Germany, and overtaking Japan. Last year, Korea ranked sixt
April 5, 2018
-
Govt. to provide smartphone price comparison with overseas markets
South Korea's telecom watchdog said Thursday it will provide consumers with a means to compare local prices of smartphones with those sold abroad on its website starting in May, apparently aimed at lowering prices here.The move comes as local customers have been expressing criticism that smartphone makers tend to set relatively higher prices in South Korea compared with other countries.Taking the complaints into consideration, the state-run Korea Communications Commission said it will conduct re
April 5, 2018
-
Korean chipmakers not immediately affected by US tariffs on Chinese products
Korean semiconductors manufactured in China are not subject to US tariffs, but there is still a possibility that they will be affected as components in China's finished products, industry sources said Thursday.A list of Chinese products subject to tariffs announced by the US Trade Representative a day earlier includes non-memory chips, according to the sources. Both Samsung Electronics and SK hynix produce memory chips at their plants in China.Samsung last year put out a monthly average of 450,0
April 5, 2018
-
Fire breaks out in LG Display facility
A fire broke out at a liquid-crystal display production facility of LG Display located in northwestern Gyeonggi Province at around 2:54 p.m. Wednesday. No casualties had been reported as of 6 p.m. LCD PRODUCTION LINE SET ON FIRE -- Smoke gushes out at a liquid crystal display production line of LG Display in northern Gyeonggi Province, due to a fire that broke out at around 2:54 p.m. on Wednesday. (Yonhap)The fire reportedly began at a construction site near an aeration tank of a wastewater disp
April 4, 2018
-
[Doing biz in Korea] Understanding Korea’s ‘national sentiment law’
The Korea Herald is publishing a series on South Korea’s business environment for foreign companies and investors. This is the third installment. -- Ed.When Samsung Group heir Lee Jae-yong was released from prison on Feb. 4 almost a year after he was jailed on corruption charges, the center-left People’s Party released a statement, saying, “We doubt whether the public will accept this ruling with their ‘national sentiment law.’” National sentiment law, a phrase often used in South Korea, is not
April 4, 2018
-
Janssen to begin phase 2 clinical trials of Hanmi Pharma’s diabetes drug
US pharmaceutical company Janssen will start carrying out phase 2 clinical trials in the US to evaluate the efficacy and safety of a diabetes drug candidate originally developed by South Korea’s Hanmi Pharmaceutical, the companies announced Wednesday.The study was uploaded onto ClinicalTrials.gov, a website through which most pharma companies recruit participants for upcoming clinical trials, by Janssen under the drug code name JNJ-6456511. Hanmi Pharmaceutical's headquarters in southern Seoul
April 4, 2018
-
Innocean Worldwide starts ‘black dog’ campaign
Innocean Worldwide, an advertising arm of Hyundai Motor Group, has launched a campaign here to address the so-called “black dog syndrome” in South Korea, in collaboration with the animal protection organization Care.The “black dog syndrome” refers to a phenomenon observed at dog shelters here: Dogs with black hair stay longer in shelters than lighter colored dogs. An image from Innocean's YouTube video to raise awareness of the "black dog syndrome." (Innocean Worldwide)The 4 minute 33 second cl
April 4, 2018
-
Shin Ramyun now available at Switzerland’s Matterhorn
South Korean food and beverage company Nongshim’s best-selling Shin Ramyun is now available at the top of the Matterhorn in Switzerland. Tourists pose with Shin Ramyun at Jungfrau in Switzerland. (Nongshim)Sources said that a kiosk in Matterhorn’s Gornergrat observatory began selling Shin Ramyun last month, upon the request of the Switzerland tourism office covering the canton of Valais.In May 2016, the tourism authority allowed the sale of Korean instant noodle maker Ottogi’s Jin Ramen there, f
April 4, 2018
-
Korea to provide rental housing to newlyweds at discount
The South Korean government plans to provide public rental housing to youths and newlyweds at 70 to 85 percent of the market price.The Ministry of Land, Infrastructure and Transport will preannounce a revised bill for legislation on rental housing, it said Wednesday. The revised bill seeks to offer discounts on first-time rent fees of public housing, setting rents at 95 percent of the market price for regular tenants and less than 85 percent for tenants who are youths and newlyweds. (Seoul Metro
April 4, 2018