RAYONG PROVINCE, Thailand -- Along a green lake in Wangchan Valley, students clad in purple-and-green uniforms stroll around a school campus surrounded by woods that stretch across the northern Rayong province in Thailand. They are part of some 200 students at the Kamnoetvidya Science Academy (KVIS) in 10th, 11th and 12th grades, who are chosen among some 5,000-7,000 applicants through a multilayered screening process each year. An exterior view of the KVIS campus (Son Ji-hyoung/The Korea Herald

South Korea’s Incheon Airport has adopted an employee identification system using iris scanning technology, with aims to expand the biometrics ID system to all general airport users by as early as 2020, according to local news reports Sunday. 　If applied to the airport’s passenger check-in system, the system would allow people to pass customs and board airplanes via iris scanning, removing the need to present a physical passport. As of this month, Incheon Airport has reportedly installed an iris

Line, the Japan-based mobile messenger under South Korean internet giant Naver, has announced plans to launch five new decentralized apps, or DApps, running on its proprietary blockchain network, Link Chain. The company said Friday that DApps focusing on various service categories including prediction, question-and-answer, product review, food review and location review will be introduced in the coming weeks, kicking off Line’s efforts to build up a token economy system.As part of the move, Line

Management in Korea is a regular column written by members of Egon Zehnder Seoul, touching on various aspects of Korean enterprises and business leaders and offering management tips. -- Ed.Korean companies have long relied on promoting leaders from within. While there are many benefits to this talent strategy, it often falls short when organizations need leaders with new competencies and experiences. This is why in the face of the widespread changes reshaping the global economy, Korean companies

Korean carmakers to unveil Europe-only brands aimed at accelerating sales growth

The brand value of South Korean leisure-related companies improved in the third quarter following the government's new policy to cut work hours, data showed Sunday, while that of liquor firms lost ground.South Korea earlier reduced its maximum working hours to 40 hours plus 12 hours of overtime per week from 68 hours in July to reduce chronic overwork.According to the data compiled by Brand Stock, leisure, healthcare and resort companies mostly saw their brand value gain ground following the cha

NEW YORK -- For users, Facebook’s revelation of a data breach that gave attackers access to 50 million accounts raises an important question: What happens next?For the owners of the affected accounts, and of another 40 million that Facebook considered at risk, the first order of business may be a simple one: sign back into the app. Facebook logged everyone out of all 90 million accounts in order to reset digital keys the hackers had stolen -- keys normally used to keep users logged in, but which

Prosecutors charged two LG Group executives Friday for helping its owning family dodge capital gains taxes. Fourteen family members, including the father of Chairman Koo Kwang-mo, were summarily indicted.The executives, former and current financial team leaders, helped the owning family members evade 15.6 billion won ($14 million) in taxes when they sold off their stakes in LG International to LG Corp., the holding company of the nation's fourth-largest business group, the prosecution said. (Yon

Despite signs of South Korea’s domestic auto market on track for a sales recovery, Renault Samsung Motors, the local unit of French carmaker Renault, has been hit with plummeting sales and constant friction with its labor union in wage negotiations, industry experts said Friday. It looks set to miss this year’s goal to sell 100,000 vehicles on the local market. The automaker sold 55,630 units here, down about 18 percent on-year, between January and August, data from the company showed. Among fiv

Samsung BioLogics will transfer Samsung Bioepis’ shares to US-based biotech firm Biogen on Oct. 30, completing a call option a month later than initially planned, it said in a regulatory filing on Friday. Due to the announcement, the call option exercise price will rise from about 748.6 billion won ($675.3 million) on Sept. 28 to 757.3 billion won on Oct. 30. A BioLogics official said, “The transfer is being postponed due to administrative procedures for reporting the merging of enterprises betw

South Korean cosmetics giant Amorepacific opened total beauty solution store Aritaum Live Gangnam on Friday.  Aritaum Live Gangnam (Amorepacific)Located near subway Line No. 2’s Gangnam Station, the company said the store will attract customers with a variety of premium brands including Laneige, Iope, Mammonde and Hanyul and daily beauty brands such as Happy Bath and Plesia, and discover differentiated beauty experience events. Customers can also find non-Amorepacific cosmetics brand products, a

South Korean home appliance makers LG and Samsung Electronics both ranked among the top three companies in a US survey on customer satisfaction, an annual report showed Friday. The annual report of the American Customer Satisfaction Index showed that LG came in second place, after Bosch, with a score of 82 out of 100 for the home appliance sector. Samsung soared from seventh place to third this year with a score of 80.  (Yonhap)LG slipped from the top spot, which it had held for three years stra

Retail giant Shinsegae Group’s discount chain operator E-Mart said Friday that it has signed a lease in Los Angeles and will open its premium “grocerant” store-restaurant PK Market there in the second half of 2019. Building in LA where PK Market will enter (E-Mart)According to the company, it has signed a 10-year lease for a 4,803-square-meter space occupying three floors of a six-story building at 712 South Olive Street in downtown Los Angeles. The site was originally built in 1917 as home to t

Korean aircraft manufacturer KAI has lost a multibillion dollar contract to build next-generation training aircraft for the US Air Force, thwarting its plans to expand exports, the company said Friday.With hopes to win the lucrative project, KAI had formed a consortium with the US’ Lockheed Martin to replace 350 units of the aging T-38 jets.The local stock market instantly reacted, with KAI’s shares sliding 28.5 percent to 35,750 won ($32.30) per share compared to the previous day’s close as of

E-Mart Inc., South Korea's largest discount hypermarket chain by sales, said Friday it will launch the first outlet of its premium grocery store in Los Angeles next year, the latest in a series of moves to expand its presence abroad.E-Mart has signed a 10-year contract to lease three floors of a six-story building in downtown LA with a plan to open the 3,104-square-meter grocery shop named PK Market in the second half of next year, it said. This image provided by E-Mart Inc. shows an artist`s re