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Global voices celebrate Hangeul at 1st Sejong Hangeul Olympiad
[Today’s K-pop] Ateez adds dates to Europe tour
Gyeonggi starts temperament tests on 'dangerous' dogs for ownership
Seoul unveils new perks for pregnant women
‘Speak with confidence. Nobody laughs at your mistakes’
Seoul shares end tad higher on Wall Street gains
Race event celebrates Hangeul Day in Sejong
Bain's backing could be costly for Korea Zinc: sources
North Korea already cut off inter-Korean roads in Aug.: JCS chief
KT, Microsoft to debut Hangeul AI language model next year
Korean proficiency test to expand globally
S. Korea-US talks over Buddhist relics loan drag on over terms
Toss Securities names new CEO
Forum to discuss outlook on intangible cultural heritgage
Will K bank make W5tr jackpot debut?
S. Korea clinches seat on UN Human Rights Council
LS Cable & System wins global certification for legal, ethical compliance
Hanwha Group marks 72nd anniversary as 'great challenger'
LX Pantos expands logistics foothold in Central Asia
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Creditors set to pump 4.2 tn won into ailing Daewoo Shipbuilding
Nov 10, 2015
Creditors of a loss-making shipbuilder are set to provide 4.2 trillion won ($3.63 billion) in financial aid to the financially shaky firm in their latest bid to salvage it, industry sources said Tuesday.According to the sources, the creditors, led by state-run Korea Development Bank, and Daewoo Shipbuilding & Marine Engineering Co. signed a memorandum of understanding on Monday to push ahead with large-scale restructuring and financial assistance.Daewoo Shipbuilding has suffered a more than 4 tr
LG Electronics wins 7 best product honors in U.S.
Nov 10, 2015
South Korean home appliances giant LG Electronics Inc. said Tuesday seven of its products have won this year's awards for the best performances from a U.S. reviewer.The company said its products, including an organic light-emitting diodeTV and a washing machine, won the "Best of Year" title from Reviewed.com, a consumer product analyst.Reviewed.com said the LG 65EF9500 OLED TV boasts outstanding resolution despite the relatively high sales price of around $5,000, along with a design "that stands
Tourism industry faces better outlook in Q4: poll
Nov 10, 2015
South Korea's tourism industry is expected to recover from the fallout from the Middle East Respiratory Syndromeoutbreak in the fourth quarter, but the overall business sentiment still remains subdued, a poll showed Tuesday. According to the survey conducted by the Korea Culture & Tourism Institute on 332 tour and hotel operators, the business survey index stood at 83 in the October-December period.The figure is higher than the third quarter's 57, but it is below 100, which means pessimists outn
Shipbuilders continue to suffer drop in new orders: report
Nov 10, 2015
South Korean shipbuilders, led by Hyundai Heavy Industries Co., are expected to face a protracted slump down the road with their new orders likely to plunge 27 percent this year, a report showed Tuesday.According to the report compiled by the KEXIM Overseas Economic Research Institute, local shipbuilders received a combined $19.05 billion in the first nine months of the year, down 19.4 percent from a year earlier.In terms of volume, their new orders also declined 2.5 percent on-year to reach 8.7
GE opens collaboration office in Korea
Nov 10, 2015
The U.S. industrial giant General Electric opened a collaboration office in the South Korean border city of Paju Monday as part of efforts to expand business in preparation of the unification of the two Koreas.GE held an opening ceremony to celebrate the opening of its office at Paju City Hall near the western border with North Korea.The ceremony drew some 80 people, including GE Korea head Kang Sung-wook, Paju Mayor Lee Jae-hong, Unification Minister Hong Yong-pyo, and Kim Moo-sung, chairman of
[Newsmaker] Shipping merger rumors resurface
Nov 9, 2015
Market rumors are rampant that the government is seeking to force the merger of Korea’s two largest shipping companies as part of its push for corporate restructuring to overcome the deteriorating market conditions.Container ships sit under construction at the Hanjin Heavy Industry shipyard in Busan. (Bloomberg)A local news agency reported Monday that the government will officially discuss a possible merger of the country’s No. 1 shipping line Hanjin Shipping and its rival Hyundai Merchant Marin
Two Shin-Wolsong nuclear power plants dedicated
Nov 9, 2015
The Shin-Wolsong Nuclear Power Plant No.1 (right) and No. 2 in Gyeongju, North Gyeongsang Province.The construction of Shin-Wolsong Nuclear Power Plant No. 1 and No. 2 in Gyeongju, North Gyeongsang Province, was completed Monday, making them the nation’s 23rd and 24th nuclear reactors.The two plants will generate a combined 15.8 billion kilowatt-hours of electricity a year, which would currently account for 3 percent of the country’s power generation. “We believe that the plants will drive the l
Hanwha gives W4b to youth employment fund
Nov 9, 2015
Hanwha Group chairman Kim Seung-youn (Hanwha)Hanwha Group said Sunday it will contribute 4 billion won ($3.47 million) toward a public trust fund created by the South Korean government to ease youth unemployment.Hanwha chairman Kim Seung-youn will donate 3 billion won while group employees will give 1 billion won toward the so-called Youth Hope Fund, proposed by President Park Geun-hye in September to develop job creation and training programs for young people.“The group chairman decided to supp
Hanmi seals W1tr licensing deal with Janssen
Nov 9, 2015
Leading South Korean drugmaker Hanmi Pharmaceutical said Monday it has sealed a 1-trillion won ($863 million) licensing agreement with Janssen on a new experimental diabetes and obesity drug. The deal marks the latest among Hanmi’s string of mega licensing agreements with global pharmaceutical companies, including a 5 trillion won deal with France-based Sanofi concluded just last Thursday and two similar deals with Boehringer Ingelheim and Eli Lilly signed earlier this year. The Hanmi Pharmaceut
[Herald Interview] Korea needs control tower to nurture global biotech giants: KBIO chief
Nov 9, 2015
Nation’s biotech association looking to incubate about 1,000 venture firms to create success cases like Macrogen and Celltrion
Hanmi Pharmaceutical bags $915 mln license deal with Janssen
Nov 9, 2015
South Korean pharmaceutical company Hanmi Pharmaceutical Co. said Monday that it has reached a license agreement with global drugmaker Janssen to develop a new diabetes-obesity drug, valued at $915 million.Under the agreement, Hanmi will receive an upfront payment of $105 million and is also eligible for $810 million in development, registration and sales milestones, as well as double-digit royalties on sales.Beligium-based Janssen will have an exclusive right to develop and commercialize the ne
KEPCO's credit rating top among global power generators
Nov 9, 2015
State-run Korea Electric Power Corp. said Monday that its credit rating is the highest among its global peers, on the back of a strong bottom line and government backup.KEPCO is rated "AA-" by Standard & Poor's and Fitch Ratings and "Aa3" by Moody's Investors Service, which are on par with those for South Korea, the utility firm said.KEPCO said earlier it posted strong results for the nine months ended on Sept. 30, with its consolidated operating profit reaching 8.7 trillion won ($7.53 billion),
[Newsmaker] Shipping merger rumors resurface
Nov 9, 2015
Market rumors are rampant that the government is seeking to force the merger of Korea’s two largest shipping companies as part of its push for corporate restructuring to overcome the deteriorating market conditions.A local news agency reported Monday that the government will officially discuss a possible merger of the country’s No. 1 shipping line Hanjin Shipping and its rival Hyundai Merchant Marine that suffered a setback due to ongoing liquidity issues.State bodies involved in the shipping in
Korea posts record share in DRAM market in Q3
Nov 9, 2015
South Korea's top two tech brands posted record-high shares in the global dynamic random access memory chip market in the third quarter of the year, data showed Monday, expanding their lead over the No. 3 U.S. player Micron Technology Inc.Samsung Electronics Co. and SK hynix Inc. accounted for 46.7 percent and 28 percent of the global DRAM market in the July-September period, respectively, the data compiled by industry tracker DRAMeXchange showed.The combined share held by the two South Korean f
Samsung's governance structure simplified after mergers
Nov 9, 2015
South Korean tech behemoth Samsung Group's governance structure has been simplified by a series of mergers and asset sales, industry watchers said Monday, with the owner family solidifying its grip over the country's No. 1 conglomerate.Samsung C&T Corp. was created in September as the group's holding firm, which came out of the merger between then-Samsung C&T and fashion arm Cheil Industries. With the merger, the group's cross-shareholding linkages were reduced to seven from the previous 10, acc
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[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
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