Most Popular
-
1
Yoon apologizes for first lady Dior bag scandal, calls push for special probe ‘political’
-
2
Korea forecast to overtake Taiwan in chip production by 2032: report
-
3
Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
-
4
[K-pop’s dilemma] Can K-pop break free from ‘fandom’ model?
-
5
YouTuber fatally stabbed on livestream by another YouTuber in Busan
-
6
Yoon rebuffs opposition's call for special probe into wife
-
7
Arrest warrant issued for medical student for allegedly killing girlfriend after breakup
-
8
Stray Kids hit with racism in Met Gala photo line
-
9
[News Analysis] Yoon's first 2 years marked by intense confrontations, lack of leadership
-
10
Yoon apologizes for wife's 'unwise conduct'
-
P&G defends safety of Febreze
CINCINNATI -- Multinational consumer goods company Procter & Gamble said its fabric refresher Febreze is scientifically safe for use, amid growing public concern in Korea over its possible toxicity.P&G headquarters said that the ingredients of Febreze are strictly controlled and within the safety range so it is not toxic when inhaled.The P&G Ivorydale Technical Center in Cincinnati, Ohio, U.S. (P&G)“All ingredients used in Febreze products have been thoroughly assessed to be safe for consumers u
July 18, 2016
-
[Herald Interview] Wolfgang’s USDA steaks speak for themselves: CEO
Wolfgang‘s Steakhouse in Seoul is an unusually large restaurant, especially for the upscale Cheongdam-dong area of Seoul. Step inside and walk past the mahogany reception desk, and the main dining hall seems to spread out endlessly, countless tables covered in white tablecloths floating above wooden floors. Overhead, private dining rooms line the second floor.“Our Seoul branch is about twice the size of some of our other restaurants,” said Peter Zwiener, who currently heads up the franchise, on
July 18, 2016
-
AmorePacific launches Hera in China
[THE INVESTOR] Korean cosmetics giant AmorePacific has successfully introduced its premium brand Hera in China, it announced on July 18. The official launching event on July 15 was attended by more than 250 media representatives and VIPs at Pheonix Media Center in Beijing. It showcased videos that reinterpreted its best-selling items such as Cell Essence and UV Mist Cushion, and a performance that demonstrated the ideal beauty of Hera, “Seoulista.” The highlight of the event, however, was the ap
July 18, 2016
-
BAT Korea raises price of Kent cigarettes
British American Tobacco Korea has raised the price of its Kent cigarettes as of Monday, according to the company.BAT Korea increased the price of Kent Convertible 6 milligrams cigarettes -- the only product in the Kent line currently sold in Korea -- from 4300 won ($3.80) to 4500 won, the standard price of cigarettes here.Kent Convertible 6 mg is the only product that BAT Korea imports from its Singapore factory to the Korean market. All other BAT products sold in Korea are made in its factory
July 18, 2016
-
Korean Air flight delayed due to generator defect
A Korean Air flight bound for Hawaii was canceled Sunday night at its transfer point in Japan after a defect was found in the engine’s generator, according to the airline Monday.The 220 passengers on board flight KE001 were stranded at Narita Airport in Tokyo overnight.According to Korean Air, the plane could not leave as soon as the generator was fixed because of Narita Airport’s regulations regarding nighttime takeoffs.Passengers spent the night at the airport lounge because there were no othe
July 18, 2016
-
Emart to bring in top drugstore chain Boots
[THE INVESTOR] Emart will usher in Walgreens Boots Alliance, the largest drugstore company in the world. It has signed a franchise partnership for the exclusive management of Boots stores in Korea, the nation’s largest discount chain announced on July 18. The first store in Korea will open in the first half of 2017 and will showcase its own lineup including No7 as well as international brands such as Soap & Glory, which will give Boots an edge in competing in the 900 billion won (US$792.04 milli
July 18, 2016
-
Seoul to change preferential income tax for foreigners
[THE INVESTOR] South Korean government is planning to change the preferential income tax for foreign nationals working here, local media reported on July 18. According to reports, the Ministry of Strategy and Finance reviewing three possible measures in altering the special income tax rate applied to foreign nationals who work for companies specified by the presidential decree. At present, foreign nationals working at relevant companies are taxed at fixed rate of 17 percent regardless of income.
July 18, 2016
-
Korean antitrust watchdog rejects SKT's bid to take over No. 1 cable TV operator
Korea's antitrust watchdog on Monday said it has rejected SK Telecom Co.'s bid to buy the country's leading cable TV operator, raising concerns that the merger would undermine competition in the market.SK Telecom, the top mobile carrier with a market share of more than 50 percent, agreed to acquire a 53.9 percent stake in CJ HelloVision Co. from its parent firm CJ O Shopping, an affiliate of CJ Group, for 1 trillion won ($870 million) in November last year.SK Telecom said it seeks to become an a
July 18, 2016
-
Shipyard workers set to stage strike this week
Workers at the country's major shipbuilders will stage a joint strike this week, demanding that tough restructuring moves currently underway be scrapped.According to the sources, unionized workers at the country's Big Three shipyards -- Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. -- and five other smaller shipbuilders plan to launch a partial strike for four hours on Wednesday. (Yonhap)An estimated 30,000 workers may join the walkou
July 18, 2016
-
Audi Volkswagen to recall cars over child lock problems
Audi Volkswagen Korea Ltd., the local importer and distributor of the German car brand, will recall 1,320 units over defects in their automatic child safety locks, the Korean transport ministry said Monday. The problems related to the child lock function were detected in Volkswagen Tiguan sports utility vehicles and three other models manufactured from Nov. 25 to Feb. 4, the Ministry of Land, Infrastructure and Transport said. Free replacement services will be available starting on Monday at the
July 18, 2016
-
Software maker Hancom eyes 100 bln won in sales in 2016
Hancom Inc., a Korean software maker, has said it is targeting annual sales of 100 billion won in 2016 by reforming itself and moving more aggressively into new emerging markets.The homegrown software firm said it has logged a surplus in sales for 53 quarters in a row and posted 84.9 billion won in sales last year. (Hancom Inc.)"I want to say with confidence that Hancom will achieve the goal of 100 billion won in sales by the end of the year and generate profits worth 15 percent of the total fro
July 18, 2016
-
[Monitor] Korea has one car for every 2.4 people
The number of registered cars in Korea has increased by nearly 500,000 in the past six months to exceed 21.4 million vehicles, according to the Ministry of Land, Infrastructure and Transport. This is equivalent to one car registered for every 2.4 Koreans.
July 17, 2016
-
Foreign CEO may be hired for HMM revival
[News Focus] Come Aug. 5, Hyundai Merchant Marine will begin a new chapter in its 40-year history, breaking free from Hyundai Group and becoming a subsidiary of Korea Development Bank. The soon-to-be owner is bent on installing a new leadership at the shipping line and is open to hiring a foreign chief executive, according to sources at the state-run lender. “A CEO-recommendation committee is to launch soon, comprising representatives of various related parties,” said a KDB official.The recruit
July 17, 2016
-
KB Financial supports young athletes
KB Financial Group is in the spotlight for supporting young Korean athletes as part of its marketing strategies. This includes Park In-bi, one of the world’s best female golf players who was recently selected to be a member of the Ladies Professional Golf Association. The company has helped Korea’s talented sports athletes demonstrate their talents worldwide. KB Financial Group sponsors rhythmic gymnastics player Son Yeon-jae (left), golf player Park In-bi (center) and badminton player Lee Yong-
July 17, 2016
-
KITA to push for global MICE center in Seoul
The Korea International Trade Association plans to establish a new venue for global events and exhibitions in Seoul and foster 500,000 small, promising companies by 2030, the umbrella economic organization said Sunday. “We will push for setting up a global-level complex for MICE -- meetings, incentives, conferencing, exhibitions -- in Jamsil, Seoul,” said Kim In-ho, a chairman of KITA, at an event to mark the 70th anniversary in Seoul. KITA’s chairman Kim In-ho speaks to the audience at its eve
July 17, 2016
-
Move easily between Incheon and Seoul via AREX
Travelers trying to get from Incheon International Airport to Seoul can do so with ease by using the Airport Express railway system, which can take them directly to Seoul Station. According to data from the Korea Tourism Organization, 98 percent of tourists from English-speaking countries find their way from the airport to Seoul by themselves. Travelers receive information about the airport railroad at the transfer gate at Seoul Station.(AREX)Although there are several ways to get to the city fr
July 17, 2016
-
[KOREAN LUXURY] Heaven-grade ginseng roots: Luxury in health food
This is the second installment of a series of articles on companies in Korea striving to enter the world’s luxury market. -- Ed.From outside, the building seems nondescript. It sprawls wide and low amid the serene natural scenery of Buyeo in South Chungcheong Province, looking like a government building or perhaps a school.But once inside, the rumbling hum of machinery, bright clean rooms and head-to-toe white paper gowns make it clear that this is a factory where something precious is created.
July 17, 2016
-
Samsung Heavy close to winning $2.5 bln deal for offshore LNG facility
Samsung Heavy Industries Co., a financially troubled South Korean shipyard, has virtually secured a $2.5 billion deal to build a floating liquefied natural gas facility abroad, industry sources said Sunday.The shipbuilder, a unit of Samsung Group, is leading a consortium made up of French multinational Technip and Japan's JGC in the project, valued at a total of $5.4 billion. The order has been placed by the Italian hydrocarbon company ENI."It's safe to say that Samsung Heavy has virtually won t
July 17, 2016
-
[Weekender] Techno valley -- Korea’s start-up hub
Techno valleys in Korea are playing a pivotal role as hubs for technology start-ups as the government pushes to boost innovation through policy measures. Pangyo Techno Valley in Seongnam, Gyeonggi Province, which opened in 2011, is one of the leading techno valleys in Korea. It started small with only 82 companies in the 661,000 square meter area and first-year sales reaching just 5 trillion won, ($4.3 billion).Pangyo Techno Valley in Seongnam, Gyeonggi Province (Yonhap)Pangyo Techno Valley, how
July 15, 2016
-
Hanjin Shipping still far from cutting charter fees
[THE INVESTOR] Hanjin Shipping has yet to clinch a deal for cutting charter fees as part of its debt restructuring plan, the company said on July 15. “At the moment, we haven’t reached an agreement,” the company said in a statement, adding it is still negotiating with 22 foreign ship owners. The remark comes after a local media report on July 14 that Hanjin Shipping has almost reached a deal for cutting its leasing rate by 27-28 percent from the current 2.6 trillion won (US$ 2.29 billion). If th
July 15, 2016