South Korea’s retail firm E-Land World is set to sell its subsidiary K-Swiss to a Chinese sports brand six years after it purchased the US company, industry sources said on April 10. E-Land World is scheduled to sign a stock purchase agreement with Xtep this month for about 300 billion won ($262 million), the sources said. A spokesperson declined to confirm the deal with XTep but said that the company has been in talks with many potential buyers since early this year. The Korean re

Family’s controlling stake in Hanjin KAL could shrink due to inheritance tax

Changing lifestyle, widened features and automakers‘ supply strategy boost popularity

South Korea’s steel industry is likely to see weak corporate earnings in the first quarter of this year due to a price surge in raw materials, a fall in steel prices and growing trade protectionism. According to corporate tracker FnGuide, the market consensus forecast the nation’s largest steelmaker Posco would see operating profit fall 22 percent to reach 1.1 trillion won ($962 million) in the first quarter of this year. During the same period, Hyundai-Steel and SeAH Besteel are estimated to se

V50 ThinQ 5G to automatically remind users where they parked, when to get off subway

The possibility of Hanjin Group conducting wide-ranging governance reform during the course of passing down shares held by the late Chairman Cho Yang-ho is low, and family control over the conglomerate is likely to continue, a report said Tuesday.Yang Ji-hwan, an analyst at Daishin Investment and Securities, said in his report that the heir to the transport empire, Korean Air President Cho Won-tae, and his family can maintain their control over Hanjin Group by selling shares of other affiliates

President Moon Jae-in announces ambitious 5G initiative as the country celebrates the network’s commercial rollout to the general public

Explosive growth in data traffic in 5G era raises demand for chipsets such as radio frequency transceivers, power amplifiers, low-power supply modulators

Amid aggressive expansion by Chinese TV makers in the liquid-crystal display TV market, LG Electronics is moving to strengthen its leadership in the premium LCD TV market, according to the industry on Monday. Although LG has gained more attention with its organic light-emitting diode TVs in recent years, the company still takes a major share of the LCD TV market. It plans to expand its market share and launches new lineups featuring upgraded technologies each year. Out of the total of 218.8 mill

Following the shocking news of Hanjin Group Chairman Cho Yang-ho’s death on Monday morning, speculations immediately arose over the family-controlled group’s succession and inheritance plans.Cho’s death, which came less than two weeks after his removal from the company’s board of directors, leaves behind a huge inheritance tax for his three children, including his only son and successor Cho Won-tae -- estimated at around 172.7 billion won ($151 million).“The entire Hanjin Group has swung into an

Cho’s legacy in global aviation industry, as patron of Korean sports tainted by constant family feuds, misconduct, alleged corruption

South Korea is slated to call on the European Union to ease trade barriers on some Korean products during its meeting Tuesday with the EU, as its trade deficit with the EU remains high, according to the government on Monday. The eighth meeting on the Korea-EU free trade deal, attended by Trade Minister Yoo Myung-hee and EU Trade Commissioner Cecilia Malmstrom, will be held in Seoul. During the meeting, the Korean side plans to ask for the improvement of export conditions for Korean firms in the

Embattled 2nd-generation leader of Korea’s largest airline leaves behind disgraced family, embezzlement charges and shaky leadership

　The number of South Korean subscribers to US streaming platform Netflix more than tripled in one year, industry data showed Thursday, mainly due to the popularity of original local content. 　Netflix was estimated to have nearly 2.4 million active streaming subscribers as of the end of February this year, compared with 799,000 users at the end of February 2018, according to Nielsen Korea.　Netflix, which started as a video rental firm in 1997, currently has more than 189 million paying members in

The Korea Herald is publishing a series of articles on the quest of South Korea’s government and businesses to switch to renewable energy. -- Ed.Going green is becoming mainstream for big tech players. Amazon, Apple, General Motors and BMW are among the 169 multinational firms that have joined RE100, a global initiative to reach the goal of 100 percent renewable electricity. And now the global players are starting to aim even higher and encouraging their suppliers to go carbon-free. Samsung Elec