Most Popular
-
1
From 'superstars' to 'privileged and spoiled': Doctors fight souring image
-
2
Why one man's move is shaking Korea: Child rapist’s relocation sparks controversy, fear
-
3
Has ‘SNL Korea’ satire devolved into mere insults?
-
4
5 days to US election, North Korea fires ICBM with longest flight yet
-
5
Sibling leadership made official in Shinsegae Group revamp
-
6
Thai K-pop fans’ online protest against Hybe intensifies
-
7
N. Korea fires ballistic missile toward East Sea: JCS
-
8
Cousin marriage ban poised to lose effect
-
9
Toss eyes US listing
-
10
Hybe CEO pledges stability; Ador ex-CEO vows to continue legal fight
-
Kakao merges two arms to launch Kakao Entertainment
Kakao, the company behind Korea’s most popular messaging app KakaoTalk, announced Monday the launch of Kakao Entertainment following the merger of its two subsidiaries Kakao M and Kakao Page. The process of binding mobile-based web comic platform Kakao Page and entertainment firm Kakao M is set to be completed by March 1. The largest scale reorganization at Kakao, the deal is subject to a final approval at a board meeting on Tuesday. Kakao Page currently holds intellectual property ri
Jan. 25, 2021
-
Once the nation’s retail giant, Lotte Group in urgent need of transformation
The COVID-19 pandemic, along with the yearslong slow growth trend, has weighed upon most businesses but the burden was especially heavy for those that failed to grow out of conventional operating models. An example among South Korea’s top businesses was the country’s retail giant Lotte Group which apparently is struggling to cope with the fast-changing market trend. According to the nation’s bourse operator Korea Exchange, none of the Lotte affiliates were included in Kospi&
Jan. 25, 2021
-
Korea begins reviewing Pfizer vaccine
Korea’s Ministry of Food and Drug Safety said Monday that it has started the 40-day expedited review process for the Pfizer-BioNTech COVID-19 vaccine. Pfizer applied for the emergency use approval of its vaccine Monday, the Drug Ministry said. If it passes the fast-track review, the vaccine could be available in Korea no later than mid-March. The mRNA vaccine will be produced in Belgium, according to Pfizer. It is the second COVID-19 vaccine seeking local use permit. AstraZeneca on Jan.
Jan. 25, 2021
-
For some survivors, COVID-19 won’t go away
Almost a year into the pandemic, former COVID-19 patients are reporting symptoms that persist well beyond the course of their recovery -- a phenomenon also known as “long COVID.” Korea Disease Control and Prevention Agency Deputy Director Kwon Jun-wook said over the weekend that pulmonary fibrosis, or lung scarring, had been observed in seven people within a group of 40 recovered COVID-19 patients. All of them were in their 40s or older. “Decline in lung function, breathles
Jan. 25, 2021
-
Golden Blue to become first Korean whiskey to be exported to US
South Korean whiskey company Golden Blue said Monday that its Golden Blue Sappirus will hit the US market in February. Having been shipped Saturday, the blue-bottled whiskey will become the country’s first locally produced whiskey to be exported to the US, the largest market in the world, the company said. “Entering the US market is moving one step closer to the globalization of K-alcohol drinks,” said CEO Kim Dong-wook. Kim added that he’s certain that three years of
Jan. 25, 2021
-
Moon calls for institutionalized financial support for self-employed
President Moon Jae-in on Monday called for his administration to seek institutionalized measures that could financially aid small businesses and the self-employed hit by the COVID-19 pandemic. “I hope the government and the ruling Democratic Party will jointly discuss measures to institutionalize compensation for the losses of small business owners and the self-employed within a range that the state budget can afford,” he said to pool reporters in a meeting tied to briefings from l
Jan. 25, 2021
-
Demand for homes in greater Seoul hits record high
Despite the South Korean government’s relentless efforts to curb soaring apartment prices, there seems to be no sign of demand letting up in Seoul and its surrounding cities, according to the Korea Appraisal Board on Monday. The state-run property appraisal agency’s recent report showed the home-buying sentiment stood at 117.2, a record high since the relevant data started compilation in July 2012. The index, based on a survey of the organization’s member realtors and analysi
Jan. 25, 2021
-
Seoul stocks surpass 3,200 to hit all-time high
South Korean stocks surpassed the 3,200-point threshold to finish at an all-time high Monday, with a flurry of big-name firms set to report their fourth-quarter earnings. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 68.36 points, or 2.18 percent, to close at 3,208.99 points. The index hit an intraday high of 3,212.22 points. Trading volume was high at about 1 billion shares worth some 20.8 trillion won ($18.9 billion), with gainers o
Jan. 25, 2021
-
Hanwha Solutions triples production of safe plastic material
Hanwha Solutions said Monday it will triple production of the eco-friendly plastic material Eco-DEHCH to respond to a growing market demand. According to the South Korean solar-to-chemical company, it has completed the expansion of its Eco-DEHCH facility in Ulsan, increasing the annual production capacity from 15,000 metric tons to maximum 65,000 tons. The expansion cost 45 billion won ($40.7 million). Eco-DEHCH is a type of plasticizer, a substance added to a plastic to make it softer and mo
Jan. 25, 2021
-
Samsung’s jailed heir gives up appeal
After Samsung Electronics Vice Chairman Lee Jae-yong decided not to appeal last week’s court ruling, his absence from the country’s top conglomerate was finalized. With Lee in jail, the conglomerate won’t be able to pull off new sizable investments, market observers said. According to lawyer Lee In-jae on Monday, the Samsung heir expressed his will to respect the court ruling that sentenced him to two and half years in prison in a retrial of the former president‘s brib
Jan. 25, 2021
-
Kakao Bank to recruit over 100 workers in H1
Kakao Bank, South Korea’s leading Internet-only bank, said on Monday that it is hiring more than 100 employees in its push to ramp up digital innovation. The lender said it plans to hire experienced talent in eight areas -- financial IT development, risk management, business development, service plan, compliance, audit, and customer services -- in the first half of the year. After the latest talent hunting, the company’s headcount, which currently stands at 937, will exceed 1
Jan. 25, 2021
-
Hyundai Mipo wins chemicals carrier deal from Europe
Hyundai Mipo Dockyard Co., a mid-sized shipyard here, said Monday that it has won a 80.2 billion won ($73 million) order to build two petrochemical carriers for a European company. The deal calls for the shipyard to deliver the vessels by March next year, the company said in a regulatory filing. Hyundai Mipo Dockyard is a listed unit of Korea Shipbuilding & Offshore Engineering Co., the subholding company of Hyundai Heavy Industries Holdings Co. Korea Shipbuilding, which has three shipbui
Jan. 25, 2021
-
[Herald Interview] Microbiome key to personalized health supplements
While the human body is composed of some 30 trillion cells, the number of microorganisms, including bacteria, outnumber the cells to about 38 trillion, and they have tremendous effects on our physical health. Now with advanced technologies, individuals will soon be able to analyze the genetic information of microbials in their guts so they can find personalized health supplements with “optimal” effects, Cho Yang-hee, the vice president of Amway Korea said in an interview with The
Jan. 25, 2021
-
Daewoong to start phase 3 trial of COVID-19 preventive
Daewoong Pharmaceutical said Monday that it plans to conduct a clinical phase 3 trial for its drug targeted at preventing COVID-19. The company received an approval from the Ministry of Food and Drug Safety to begin the last stage of clinical trials for the drug, Foistar, on Friday. “Foistar is convenient to administer as oral medication. Its mechanism is expected to work best in the early phase of viral replications. As the drug would hold efficacy against viral mutations, we hope it
Jan. 25, 2021
-
Direct purchasing from overseas increases by 71% in 2020 with COVID-19: Malltail
While global travel has come to a virtual standstill due to the COVID-19 pandemic, people have turned to buying goods directly from overseas retailers last year, a delivery service company said Monday. According to Malltail Korea Center, which offers parcel forwarding services for Korean consumers who purchase goods directly from overseas sellers, the number of orders made in 2020 through their platform jumped by about 71 percent from the previous year. Malltail said purchase data also showe
Jan. 25, 2021
-
Korean content popularity boosts related stocks
South Korean media content-related stocks have soared at a fast clip, backed by rising demand for streaming services and growing expectations for the local entertainment industry to strengthen its global foothold, data showed Monday. Studio Dragon, a major local TV drama production firm, saw its shares climb 17.17 percent this year, from 92,600 won ($83.85) marked at the closing of Dec. 30 to 108,500 won touched at Monday’s closing. The stock hit its second-highest closing of 109,200 won
Jan. 25, 2021
-
Retailers get ready for Lunar New Year
Retailers are anticipating a surge in online shopping in the coming weeks ahead of this year’s Lunar New Year holiday, widely known as Seollal in South Korea. Leading Korean e-commerce business Tmon said Monday that the volume of orders generated from its “contactless gift-giving” service saw a 452 percent increase during the past two weeks. Nearly 7 in 10 shoppers purchased items priced below 30,000 won ($27.20), the data also showed, up 7 percent from last year’s figu
Jan. 25, 2021
-
FSS set to order local banks compensate Lime fund customers
South Korea’s market watchdog Financial Supervisory Service is slated to order local banks that sold the problematic funds structured by Lime Asset Management to compensate investors who were victims in the massive fraud, officials said Monday. Lime Asset has been under an FSS probe since July 2019 for having concealed huge losses and inflated investment returns to keep its customer base. It suspended fund redemption worth an estimated 1.6 trillion won ($1.4 billion). The dispute arbit
Jan. 25, 2021
-
SsangYong Motor cuts wages by half amid liquidity crisis
Financially troubled SsangYong Motor Co. said Monday it will cut its employee wages in half in January and February as it struggles with mounting costs amid lackluster sales. In a recent message to employees, SsangYong Motor President and CEO Yea Byung-tae said the decision was part of "desperate measures" amid a sharp decline in sales. In 2020, its vehicle sales fell 19 percent to 107,324 units from 132,799 the previous year. SsangYong Motor's lineup consists of the flagship G4 Rex
Jan. 25, 2021
-
Galaxy S21 sales tipped to hover around 2.4m units in S. Korea this year: report
Sales of Samsung Electronics Co's new smartphone line, the Galaxy S21, are expected to reach 2.4 million units this year in South Korea, a report showed Monday, as the tech giant tries to expand its presence against Apple Inc.'s iPhone 12. Galaxy S21 sales are estimated to be 40 percent larger than those of the Galaxy S20, which sold about 1.7 million units last year, according to market tracker Counterpoint Research. The Galaxy S20 series had a relatively mediocre performance in its debut yea
Jan. 25, 2021