LG Display said Thursday that the company has raised 20 billion yuan ($2.91 billion) in syndicated loans with Chinese banks to finance the construction of its organic light-emitting diode plant in Guangzhou. The panel-maker said its Chief Financial Officer Kim Sang-don met on Wednesday with officials from the China Construction Bank, the Bank of Communication, the Agricultural Bank of China and the Bank of China to ink the deal.  LG Display officials celebrate a 20 billion yuan loan deal with Ch

Samsung’s chipmaker CEO Kim Ki-nam promoted to vice chairman, joining three incumbent vice chairmen Lee Jae-yong, Yoon Boo-keun and Shin Jong-kyun

SK Group on Thursday appointed Lee Seok-hee as the CEO of SK hynix in its annual reshuffle, alongside new leaders named for SK Gas, SK Engineering & Construction and SK Global Chemical. “Lee has the leadership and world-class expertise in chipmaking, and has taken the posts as the heads of SK hynix’s R&D division, head of DRAM business unit, and COO. All in all, he is viewed as the right figure to secure sustainable competitiveness,” said SK Group in a statement. Park Sung-wook, who had led the

Today’s Home, a social network-based home interior information platform, and “Black Desert Mobile,” a hit mobile role-playing game from Pearl Abyss, were named the top mobile apps in South Korea for 2018 by Google Play on Thursday.　Every year, Google’s mobile app store operator recognizes outstanding apps in various categories ranging from lifestyle and commerce to social networking, finance and games.Among the apps considered by Google Play for the Korean market this year, Today’s Home develope

Seoul stays in the black in goods exports, sees improvement in travel deficit

The clash over President Moon Jae-in’s civil affairs secretary and misconduct by Cheong Wa Dae officials appears set to intensify. According to a local daily, Civil Affairs Secretary Cho Kuk effectively ruled out resigning from his post, saying, “all criticism must be borne, (I) will return to the school after carrying out my tasks,” in a text message. Cho is a professor of law at Seoul National University. He took the post during a sabbatical year.  Cheong Wa Dae spokesperson Kim Eui-kyeom brie

SEJONG -- Apartment prices in Seoul, which have continued to shoot up at since the latter half of 2016, are estimated to have hit an all-time high during the first half of 2018, causing a fears of a price bubble.Though the government unveiled a series of measures to curb the “abnormal” housing prices, ordinary households and many property experts agree that these efforts came too late and had no effect. A normalization in Seoul’s housing market will almost certainly take a long

Members of families that control South Korea's eight conglomerates opted not to register themselves as board members in their affiliates, the antitrust watchdog said Thursday, a loophole seen as shying away from managerial responsibilities.The Fair Trade Commission said that as of May, none of the owners and their grown children were board members of affiliated companies of retail giant Shinsegae Group, food and entertainment giant CJ Group and six other conglomerates. (Yonhap)The watchdog said

The global nuclear industry has been declining in the face of a decreasing number of new reactors in recent years, leaving more room for growth in the decommissioning sector over the long term, a renowned energy consultant said Thursday. Mycle Schneider, the lead author of the World Nuclear Industry Status Report (WNISR), said the global energy landscape has been shifting toward renewable energies and that building new nuclear reactors is simply not competitive any more.  Mycle Schneider, lead a

Seven out of the 10 most innovative tech companies in the Asia-Pacific region were from China, with four South Korean firms making it to the top 100 such enterprises, a survey by a global consulting firm showed Thursday.According to the "2018 Technology Fast 500 Asia Pacific" by Deloitte, Chinese open platform real estate listings provider Ke.com took the top spot by logging a 32,179 percent sales spike over the past three years. (Yonhap)Including Ke.com, China claimed the majority of the top 10

The police investigation into the rupture of a hot water pipeline near Baekseok Station in Ilsan, Gyeonggi Province, is set to expand to employees of subcontractors who were in charge of maintaining, repairing and inspecting the pipe involved. (Lee So-jeong/The Korea Herald)According to police sources, the heat pipeline maintenance and inspection companies had used subcontractors for the work. “We will call in the employees of each company to continue the investigation,” police said.Police confi

In most neighborhoods in Seoul, it’s easy to spot signs and posters advertising “massage shops.” Varying in type and pricing, these massage parlors cater primarily to office workers who work desk jobs and are looking for ways to unwind their stiff or aching bodies.　Though most are independently owned, a number of franchise massage brands, such as Body & Foot and The Foot Shop, have grown in popularity for their widespread accessibility and affordability. At these shops, a standard full-body mass

A video showing a McDonald’s customer hurling a paper bag with food at an employee has quickly spread online, sparking public outrage.It has been less than a month since a clip showing a McDonald’s customer throwing food at a drive-thru employee went viral.The video shows a man arguing with an employee and throwing a paper bag containing food, hitting the employee directly in the face. The man reportedly complained that his food came out late, but had not seen the screen that showed customers’ o

Home massage devices, franchise massage parlors popular among office workers and students

A child care center in Jongno, Seoul, has rehired a chief who was accused of child abuse two years ago, triggering concerns among teachers and parents.The welfare foundation that runs the center selected the chief, surnamed Hong, as its new director on Thursday, according to local media reports. Hong, it has been revealed, resigned from the position in 2016 after she was suspected of child abuse. (Yonhap)Allegations of abuse against Hong were disclosed by a whistle-blower at the center in Septem