Most Popular
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Iran’s president found dead at helicopter crash site
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Seoul rolls out W250b package in bid to lure foreign talent
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N. Korea slams US subcritical nuclear test, vows measures to bolster nuclear deterrence
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Korea's increasing US investment mutually beneficial: report
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Yoon vetoes bill for special probe into young Marine's death
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Minister warns against trusting NK stated intentions, says Moon misguided
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South Korea bans viral North Korea propaganda video praising Kim
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AI Seoul Summit to discuss ways to make AI equitable in Global South
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Hermes celebrates craftsmanship
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SNU alums nabbed for digital sex crimes
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[PyeongChang 2018] Coca-Cola Polar Bear adorns Olympics commemorative cans
As the longest-running Olympic partner of the Olympics since the 1928 Olympic Games in Amsterdam, the Coca-Cola Company unveiled its newest “Polar Bear special package,” celebrating the 2018 Winter Games’ opening ceremony slated for Friday. The limited edition package shows the brand’s most beloved character, the Coca-Cola Polar Bear, enjoying various Olympic sports, such as skiing, figure skating and snowboarding. This marks Coca-Cola’s third Olympics-related package. Former Olympic figure ska
Feb. 5, 2018
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[Monitor] Online shopping surpasses 78 trillion won
The amount of online shopping transactions made surpassed 78 trillion won ($71.6 billion) last year, the highest ever and up 19.2 percent from the previous year, data from Statistics Korea showed.Online shopping has consistently grown since 2014 by around 17 to 20 percent.Shopping online is also becoming more mainstream, with 21 percent of all retail sales in the month of December having taken place in cyberspace. Mobile shopping, in particular, marked a significant rise, extending to 47.8 trill
Feb. 4, 2018
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[IP in Korea] ‘Samsung-Apple patent war signaled end of industrial era’
The fierce commercial battles over the past years -- especially the smartphone patent war between Samsung and Apple -- prove that the world is standing at the very last stage of the third industrial revolution and on the verge of a new era, according to a senior lawyer specializing in intellectual property.“It is during major transition periods that industrial players tend to be the most active in enforcing their rights in the form of litigations,” Kim Won-il, senior attorney at local law firm Y
Feb. 4, 2018
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LG’s cordless vacuum beats Dyson on price comparison site
LG Electronics’ cordless vacuum cleaner saw boosted sales on an online price comparison website last month, beating its UK rival home appliance maker Dyson. LG Electronics’ Cordzero A9 (LG)According to local e-commerce platform Enuri.com, LG Electronics’ cordless vacuum cleaners accounted for 45 percent of sales in the sector in January, about 18 percentage points above Dyson’s 27 percent. Until the second quarter of 2017, Dyson topped the list on the price comparison website, accounting for 40
Feb. 4, 2018
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GS Group chairman stresses innovation, competitive power for 2018
GS Group Chairman Heo Chang-soo encouraged its new executive members to become innovative leaders with competitive power for the new business year.During a seven-day program held for new members of the board at Elysian Resort on Jeju Island, Heo participated in a dinner to encourage and communicate with the new executives. GS Group Chairman Heo Chang-soo (GS Group)“As fluctuation issues are expected to persist this year with international oil prices, interest rates and exchange rates, protection
Feb. 4, 2018
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Discount store chain E-Mart top recruiter for past 5 years: think tank
E-Mart, South Korea's biggest discount store chain operator, topped other businesses by recruiting the largest number of new employees over the past five years, a local think tank said Sunday. In a survey carried out on the country's top 30 conglomerates' affiliates which employ more than 300 people, E-Mart ranked first by hiring 15,307 employees from 2011-2016, followed by Hyundai Motor Co.'s 9,906 and Starbucks Coffee Korea Co.'s 6,958, the Korea Economic Research Institute said in a statement
Feb. 4, 2018
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SK Group's exports exceed domestic sales in 2017
SK Group said Sunday the proportion of exports in its total sales reached a record high last year, on the back of the brisk performance of its energy and chip businesses. South Korea's third-largest business group booked combined sales of 139 trillion won ($127.9 billion) in 2017. Overseas sales reached 75.4 trillion won, accounting for 54.2 percent of the total. The conglomerate's contribution to the nation's exports also increased to a record high 13 percent, it said. (Yonhap)Energy and chemic
Feb. 4, 2018
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Samsung heir faces verdict over bribery in appeals trial
An appellate court is set to hand down its verdict Monday on Samsung Electronics Vice Chairman Lee Jae-yong, who was found guilty by a lower court of offering kickbacks to former President Park Geun-hye, and her friend, in a scandal that led to Park's ouster last year. The scion of South Korea's biggest conglomerate was sentenced to five years in prison on Aug. 25 for giving 8.8 billion won ($8.2 million) to Park and her confidante, Choi Soon-sil, in return for government backing for the merger
Feb. 4, 2018
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[Herald Interview] Restaurants that sell a story
It’s hard to settle on a restaurant in the bustling Seoul neighborhood of Itaewon, where the dining scene seems to change by the month. The constantly shifting topography of eateries is currently all about mixing and matching different cuisines or being authentically foreign, with eating out becoming more of an exuberant repast rather than a simple meal.In a back alley in Itaewon is Yoo Ji-young’s Korean barbecue restaurant Tongue & Groove Joint. But don’t expect to walk into a typical Korean ba
Feb. 2, 2018
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Prosecutors ask for arrest warrant for Booyoung chairman
Prosecutors on Friday filed for an arrest warrant for the head of a major construction and real estate business group on charges of tax evasion, embezzlement and breach of trust.The Seoul Central District Prosecutors' Office requested the arrest warrant against Booyoung Group Chairman Lee Joong-keun. Lee Joong-keunThe prosecutors are looking into allegations that Lee is involved in a series of crimes, from tax-dodging to managing a slush fund.The National Tax Service filed a complaint with the
Feb. 2, 2018
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[Newsmaker] Samsung's brand value moves up to 4th place in world amid robust earnings
The brand value of Samsung Electronics Co. rose two notches from a year earlier to rank fourth in an annual report on the world's most valuable brands, a British corporate valuation and strategy consultancy said Friday.The Korean tech giant's brand value jumped 39 percent to $92.3 billion in 2018 from a year earlier and remains Asia's most valuable brand, Brand Finance said. "As the company strives to be at the forefront of technology, and its brand philosophy 'Do What You Can't' continues to re
Feb. 2, 2018
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SK Holdings fined 2.9 billion won by FTC
SK Holdings was fined around 2.9 billion won ($2.7 million) for violating the law that separates financial companies from nonfinancial ones, the Fair Trade Commission said on Thursday. Under the current law, a holding firm cannot hold shares of financial companies, such as insurance or securities firms, in order to separate industrial and financial capitals. In August of 2015 when SK Holdings had acquired SK C&C, it had also incorporated SK Securities partially owned by SK C&C. But, SK Holdings
Feb. 1, 2018
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KT&G sees record high of W1.48tr in overseas sales
South Korean tobacco maker KT&G said Thursday that it saw a record high of 1.48 trillion won ($1.3 billion) of overseas sales last year. KT>he company said it broke its previous record of 941.4 billion won of overseas sales in 2016, measured by sales from exports and overseas corporation. This translates to a record high of 55.4 billion cigarettes sold overseas, an about 13.8 percent increase from 48.7 billion cigarettes in 2016. KT&G first tapped the overseas market in 1988. It took about th
Feb. 1, 2018
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Antitrust watchdog chief to promote conglomerate policies in Philippines
The head of Korea’s top antitrust watchdog will introduce policies toward conglomerates to high-ranking officials in the Philippines at a competition forum held in Manila that began on Thursday. The two-day Forum on Competition is being hosted by the Philippine Competition Commission with the aim of discussing competition policies involving conglomerates and SMEs. It is attended by high-ranking officials from Japan, Australia, Singapore, Hong Kong, the Organization for Economic Cooperation and D
Feb. 1, 2018
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Department stores bolsters delivery service for Lunar New Year holiday
Major department stores have put a large number of delivery workers on standby for the Lunar New Year holiday later this month, expecting better business after adjustments to an anti-corruption law, retail industry sources said Thursday.The Lunar New Year falls on Feb. 16 this year, and department stores, retail outlets and supermarkets are all selling special gifts for the holiday, when millions of people travel to their hometowns. (Yonhap)They are expecting improved sales after the government
Feb. 1, 2018
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[Monitor] Conglomerates collect nearly W1tr in trademark fees: FTC
Based on a survey of 57 conglomerates, 20 holding or representative firms received a total of 931.4 billion won ($866.2 million) in brand commission fees in 2016, the Fair Trade Commission said.The FTC, which has been moving to tighten its grip over the brand commission fees, said Tuesday that it has prepared a revision to regulations that would require the holding companies to detail and publicize the collection status of their trademarks.Brand commission payments, though not prohibited by the
Jan. 31, 2018
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‘Naver V Vietnam’ users surge tenfold in 2 years
Naver’s live broadcasting service ‘V Vietnam’ saw the number of monthly users reach 3.3 million in January, the Korean portal operator said Wednesday.This means that the Vietnamese version of video streaming app ‘V’ has seen a tenfold growth in the number of users who used the service at least once a month since its launch in January 2016.Launched in September 2015, V is a real-time broadcasting service that allows users worldwide to stream videos of K-pop stars or celebrities. Personal videos t
Jan. 31, 2018
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With record-high earnings, Samsung fixated on AI chips, foldable phones
Bolstered by an all-time high operating profit of 53 trillion won ($49.6 billion) in 2017, Samsung Electronics’ top management displayed an upbeat mood for the launches of new innovative products, including chips that support artificial intelligence and foldable organic light-emitting display smartphones, this year during a conference call on Wednesday. After announcing that it posted 239 trillion won in consolidated sales and 53 trillion won in operating profit last year, the South Korean tech
Jan. 31, 2018
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KORUS FTA talks resume amid growing trade tensions
Korea and the US resumed the second round of talks to review the bilateral free trade agreement in Seoul on Wednesday in the wake of growing tension following the US safeguard measures on Korean washers and solar panels. The two-day talks, led by Yoo Myung-hee, director general for FTA negotiations at Korea’s trade ministry and Michael Beeman, assistant US trade representative, follow the first round of talks on Jan. 5 in Washington. In the first round, the US had primarily raised the issue of t
Jan. 31, 2018
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[Newsmaker] What’s behind Samsung’s massive share split plan?
On the same day of announcing a record operating profit of 53 trillion won ($49.6 billion) for last year, South Korean tech giant Samsung Electronics surprised the market on Wednesday by unveiling the first-ever share split plan aimed at “enhancing shareholder value.”The landmark decision by the company’s board was widely welcomed by the market, causing the share price to surge as high as 8 percent in the morning.The plan will make Samsung Electronics “more accessible” for investors and provide
Jan. 31, 2018