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[Herald Design Forum] Boundary-pushing experts share insights at Herald Design Forum 2024
[Herald Design Forum] Motion graphic designer Kim Gyrun shares inspirational journey in video game
More deaths in ICU following doctors' mass walkout: lawmaker
North Korea says it told US of plans to fortify border with South
Korea added to key bond index
LS Group on smooth sail for double growth by 2030
Will Apple quit smart ring race with Samsung?
Security issues to take center stage at ASEAN summit
[Herald Interview] Innovation, people key to Korea's energy transition: ABB CCO
Hyundai, Singapore bolster R&D ties in hydrogen, manufacturing
[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
Paris Baguette expands presence in Southeast Asia
[Herald Design Forum] Communication key for visual effects, motion graphics
Patients opting to die with dignity on steady rise
[Herald Design Forum] Lacaton and Vassal pay tribute to what already exists
[Herald Design Forum] VFX expert says creativity is key to bringing characters to life
[Herald Design Forum] Create spaces with purpose, respect, curiosity
[Herald Design Forum] Weta FX CG supervisor Choi Jong-jin on creating photorealistic water in 'Avatar: The Way of Water'
Unified Korea would be massive market: Yoon
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[Exclusive] Lotte drops bid for Duty Free Americas amid widening probe
Jun 16, 2016
Lotte Group has given up its plans to acquire Duty Free Americas Inc., the largest duty-free operator in the U.S., amid the widening probe that had earlier forced the South Korean retail giant to withdraw plans to list its hotel unit, The Korea Herald found Thursday.“The group has effectively given up on the potential acquisition of a U.S. duty-free operator worth 1.7 trillion won ($1.5 billion), now that the initial public offering of its hotel unit has been indefinitely delayed due to the ongo
SK Planet named e-commerce company of the year
Jun 16, 2016
SK Planet has been named the Telecom eCommerce Service Provider of the Year for its mobile marketing brand Syrup, the company said Thursday.The award was presented to the firm at the 2016 Asia Pacific ICT Awards in Singapore on Wednesday. It was hosted by the consulting firm Frost & Sullivan and this was the 13th year of the awards.SK Planet vice president Park Jung-min (right) receives the Telecom eCommerce Service Provider of the Year award at the 2016 Asia Pacific ICT Awards in Singapore on W
Korea's online shopping sales surge 16-fold over past 15 yrs
Jun 16, 2016
Sales in the online shopping business in South Korea have expanded more than 16-fold over the past 15 years on the back of the rapid development of e-commerce transactions, government data showed Thursday.A total of 53.9 trillion won ($46.1 billion) worth of purchases were made online last year, compared with 3.3 trillion won tallied in 2001, with an average 22 percent on-year growth every year, according to the data compiled by Statistics Korea.Mobile shopping totaled 24.5 trillion won in 2015,
20 public firms earn highest grade in government's management test
Jun 16, 2016
Twenty public companies and state-run agencies were listed at the top of the government-led annual management assessment for their efforts to improve balance sheets, the finance ministry said Thursday.Out of the 116 institutions subject to the test, the number of A-grade institutions rose from 15 tallied a year earlier, followed by 53 B-grade companies and 30 C-grade, according to the Ministry of Strategy and Finance.The 20 best companies include the Incheon International Airport Corp., Korea El
Airlines won't levy fuel surcharge for 11th straight month in July
Jun 16, 2016
South Korea's two major air carriers said Thursday they have decided to impose no fuel surcharges on their international flights next month amid continued low oil prices.Korean Air Lines Co. and Asiana Airlines Inc. said they have set their fuel surcharge at zero for July, marking the 11th straight month of freeze. It is also the longest zero streak since July 2005, the first time when fuel surcharges were levied on all international flights.The decision means passengers purchasing international
KEPCO mulling solar power business in Jordan
Jun 16, 2016
Korea Electric Power Corp., South Korea's state-run power utility firm, is considering a solar energy business in Jordan, a source said Thursday, as part of its efforts to tap into a new growth engine.KEPCO officials met with their Jordanian counterparts in Amman earlier this month, the source said, without elaborating.Separately, KEPCO has formed a consortium with GS Engineering & Construction Co., a major South Korean construction firm, and Hanwha Q Cells Co., the world's leading solar cell ma
Samsung dominates global AMOLED market: data
Jun 16, 2016
Samsung Display Co., an affiliate of tech giant Samsung Electronics Co., dominated the global small and mid-size active mode organic light-emitting diode display market in the first quarter of the year, industry data showed Thursday.The South Korean panel cemented its supremacy with a 30.6 percent presence in terms of sales, followed by Japan Display Co. with a 17.1 percent share and LG Display Co. of South Korea with 12.9 percent during the January-March period, according to the data by market
Blue House says no specific date for new airport announcement
Jun 15, 2016
Amid escalating tensions over a new airport site in South Gyeongsang Province, the presidential office said Wednesday that no specific date has been set for the government‘s announcement on the 10 trillion won ($8.5 billion) project. “The Transport Ministry will make an announcement as soon as a preliminary feasibility study on the new airport project in Yeongnam region is completed,” said presidential spokesman Jung Youn-kuk. “No specific date has been set yet.”Transport Ministry in Sejong City
State auditor uncovers gross malpractice of KDB officials
Jun 15, 2016
[THE INVESTOR] State-run Korea Development Bank officials used debtor companies’ funds for housing, vehicles and entertainment, audit results showed on June 15.According to the Board of Audit and Inspection, KBD officials dispatched to oversee management of companies undergoing restructuring used the companies’ funds for unnecessary conveniences and entertainment.The audit showed that 16 KDB staff received housing from seven companies they were sent to oversee, while 36 bank officials used vehic
EXIM Bank poured 1.8 trillion won into ailing ship maker
Jun 15, 2016
[THE INVESTOR] The Export-Import Bank of Korea poured 1.8 trillion won ($1.5 billion) into an ailing shipbuilder for six years without keeping proper tabs on it, the Board of Audit and Inspection said on June 15. According to the BAI, the EXIM Bank neglected its duty in monitoring Sungdong Shipbuilding and Marine Engineering Co., 70.71 percent of whose shares are held by the bank. The shipbuilder has been under creditor-led restructuring since 2011. In laying out the recovery plans, the shipbuil
Organica acquires land for plant expansion
Jun 15, 2016
Organica Day, the juice-making arm of Herald Corp., said Wednesday that it had acquired around 8,600 square meters of new land for the expansion of its juice production plant in Anseong, Gyeonggi Province. “We decided on the major purchase to expand our facilities and respond to fast-growing demand for our Just Juice Cleanse products,” Organica Day CEO Lee Young-jin said in a statement.New land purchased by Organica Day in Anseong, Gyeonggi Province (Organica)The newly-acquired land lies adjacen
KDB’s neglect fueled Daewoo Shipbuilding crisis
Jun 15, 2016
[THE INVESTOR] Daewoo Shipbuilding and Marine Engineering’s current difficulties were fueled by neglect by its biggest shareholder Korea Development Bank, the Board of Audit and Inspection announced on June 15. According to the BAI, the state-run bank neglected its duty in monitoring the shipbuilder’s accounts and financial stability. The KDB holds 49.7 percent of DSME, making it the biggest shareholder as well as the shipbuilder’s main creditor. Daewoo Shipbuilding and Marine Engineering.Accor
[News Focus] Doubt over listing of KEPCO’s power generation units rising
Jun 15, 2016
Investors express little interest in companies under continued government control
Watchdog finds 1.5 tln in accounting fraud in Daewoo Shipbuilding
Jun 15, 2016
South Korea's state audit agency said Wednesday it has detected accounting fraud worth 1.5 trillion won ($1.27 billion) at Daewoo Shipbuilding & Marine Engineering Co., adding that its main creditor also failed to provide appropriate surveillance and management of the firm.South Korea's Board of Audit and Inspection said Daewoo Shipbuilding's management also carried out business projects without legitimate procedures, which caused its financial losses to snowball. The shipbuilder posted an opera
Pernod Ricard Korea appoints new CEO
Jun 15, 2016
French spirits-maker Pernod Ricard has appointed Jean Touboul as its next chief executive in Korea, the company said Wednesday.Touboul, who is the current managing director of Pernod Ricard Taiwan, will take office on Sept. 1 to replace Jean-Manuel Spriet. Touboul joined the group in 2004, and joined the headquarters in 2011 as vice president of financial communication and investors relations. Jean Touboul (Pernod Ricard Korea)He took up his post in Taiwan in October 2014.At an internal town h
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