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Korean bands get their day in the sun, finally
At least 14 dead in worst Bosnian floods in years, officials say
Injured captain Son Heung-min dropped from nat'l team for World Cup qualifiers
Israeli airstrikes rock southern suburbs of Beirut and cut off a key crossing into Syria
FM Cho holds 1st phone talks with Japan's new foreign minister
Arrest warrant sought for Qoo10 CEO over massive payment delays
Biannual palace festival to kick off next week
Hyundai Motor joins forces with Waymo to bolster foundry business
BTS-themed moon jar to be unveiled on Hangeul Day
First state-run center promoting studying in Korea to open in LA
Market uncertain on Korea's October rate cut despite slowed inflation
D-1: Seoul outlines safety plans for grand fireworks festival
CJ ENM vows to invest W1tr in content, maximize cross-platform synergy
S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
Special counsel bill to probe first lady scrapped
Korea reports 8.5% rise in suicide rate
Demand for mobile numbers to peak in 2032, no shortage expected
Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
Samsung unveils 'personalized AI' for all devices
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Auction to sell Asiana Airlines begins
Jul 25, 2019
Kumho Asiana Group, a South Korean airline-to-petrochemical conglomerate, on Thursday began the process of selling its airline unit with the aim to complete it this year. The group put its construction affiliate Kumho Industrial Co.'s entire 33.5 percent stake in Asiana Airlines up for sale to secure liquidity as the group faces a cash crunch. In a public bidding notice, Credit Suisse, the deal's adviser, said it will send a prospectus to potential investors who have disclosed their intention to
Naver to spin off mobile payment division
Jul 24, 2019
Naver Corp., the operator of South Korea's dominant internet portal, said Wednesday it has decided to spin off its mobile payment division, Naver Pay. The new company, tentatively named Naver Financial, will be launched in November with an aim of making inroads into the financial services sector, including loans, insurance and investment. The decision came after the number of Naver Pay users recently exceeded 10 million. Mirae Asset Daewoo Co., South Korea's top brokerage, plans to invest
School Forest Project promoting urban greenery turns 20
Jul 24, 2019
Boosting greenery in cities may seem like a difficult task. However, a project has been coming up with innovative solutions to the lack of green space for the past 20 years. School Forest Project -- launched in 1999 through a collaborative effort between nongovernmental organization Forest for Life and sanitary product manufacturer Yuhan-Kimberly -- targets public schools in South Korea lacking green space on their school grounds. By planting various types of greenery, such as trees and bushes,
Hyundai and Kia Motors awarded Platinum in 2018 LACP Vision Award
Jul 24, 2019
Hyundai and Kia Motors won the Platinum Award in the 2018 LACP Vision Awards for the quality of their sustainability reports, the companies said Wednesday. LACP, short for League of American Communications Professionals, annually screens some 1,000 business reports from roughly 20 nations for awards.In this round‘s review, Hyundai Motor’s 2018 sustainability report was recognized in the digital and online criteria, and Kia Motors for sustainable management criteria. Both companies re
‘Korea to promote forest to combat air pollution, increase well-being’
Jul 24, 2019
South Korea is suffering from worsening air pollution each year. Every spring, the concentrations of fine dust particles surge to record levels across the country, threatening human health and environmental sustainability.The state-run Korea Forest Service is seeking to deploy forests to combat air pollution, help people stay cooler during heat waves and increase well-being in nature. “The primary factor behind serious fine dust pollution is air pollutants from industrial complexes, therma
South Korea strongly urges Japan to withdraw export restrictions, approaches WTO
Jul 24, 2019
US trade associations worry about potential spillover effects on global economy
Coupang faces service outage, all products ‘out of stock’ for hours
Jul 24, 2019
South Korea’s largest e-commerce retailer Coupang’s service froze for several hours on Wednesday morning showing all products “out of stock,” with customers unable to place orders or make payments.The outage on Coupang’s mobile application and website started at 7 a.m. Although customers could add items to their shopping cart they were unable to proceed with the order.Coupang attributed the problem to a technical glitch. While customers could start buying some
Samsung Bioepis gains FDA approval for Humira biosimilar
Jul 24, 2019
Samsung Bioepis said Wednesday it has gained the US Food and Drug Administration’s approval for Hadlima, a biosimilar of AbbVie’s blockbuster autoimmune disease treatment Humira. This is the firm’s fourth biosimilar to get FDA approval, after Renflexis (Infliximab), Ontruzant (Trastuzumab) and Eticovo (Etanercept).Hadlima (adalimumab-bwwd) is developed by Samsung Bioepis and will be commercialized in the US by Merck from June 2023, according to a settlement with AbbVie.&nb
Posco’s operating profit down 15% in Q2
Jul 23, 2019
South Korean steelmaker Posco posted an operating profit of 1 trillion won ($848 million) in the second quarter this year, buoyed by its lucrative infrastructure and trade operations despite the sluggish steel business, the firm said Tuesday. The company also posted 16.3 trillion won in sales, with a net profit of 681 billion won. Sales rose 1.5 percent, but operating profit and net income declined 14.7 percent and 14.7 percent on-year, respectively. The decline was mainly due to its sluggi
Sale process of Asiana Airlines to begin this week
Jul 23, 2019
Creditors and Kumho Industrial, the largest stakeholder of Asiana Airlines, will post a public notice to sell the nation’s second-largest air carrier on Thursday, which is likely to be the largest deal of the year.After completing a financial review of the air carrier, creditors said they would speed up the bidding process, if no additional insolvent factors or problems that would complicate the company’s operations are found. Officials at Asiana Airlines confirmed that there’s
Celltrion prepares for direct sales in Australia
Jul 23, 2019
Korean biopharmaceutical company Celltrion’s distribution arm Celltrion Healthcare said Tuesday that it has joined Australia’s Generic and Biosimilar Medicines Association to prepare for direct sales of its biosimilars Truxima and Herzuma in the country.Celltrion Group’s three main biosimilars -- Remsima, Truxima and Herzuma -- are currently estimated to be worth 330 billion won ($280 million) in the Australian market. Autoimmune diseases treatment Remsima was launched as Infle
LG CNS teaches coding to young people
Jul 23, 2019
LG CNS will provide free coding training to elementary and middle school students from Tuesday at Sejong University as part of its corporate outreach, the company said Tuesday.The four-day, three-night “IT Dream Project” is LG CNS’ yearly summer project that began in 2017. LG CNS has so far provided the program to some 7,500 middle school students across 60 schools in Korea.“The advent of mandatory coding classes from elementary school has led to a market for costly priva
Market analysts forecast retail industry sales dip in Q2
Jul 23, 2019
Market saturation, competitive delivery service cited as reasons
[Herald Interview] Royal Salute goes younger with modern twist to lineup
Jul 22, 2019
It is no easy decision for a brand to abandon its original concept and transform a product lineup, especially when it comes to a luxury whisky.Royal Salute, whose distillery dates back to 1801, is best known for being the only scotch whisky in the world with a lineup that begins from 21 years of maturity. The Royal Salute 21 Year Old was launched in 1953 to commemorate the coronation of Queen Elizabeth II, named after the traditional 21-gun salute.Making a twist to its rich heritage, the br
BAT Korea names first Korean CEO
Jul 22, 2019
British American Tobacco Group has named Kim Eui-soung, a cross-border industry marketing expert, as new chief executive officer and president of its South Korean unit, the company said Monday.Kim replaces Matthieu Juery who led BAT Korea for two years, becoming the first Korean head of the tobacco maker’s local unit launched 29 years ago. The change comes amid intensifying market competition in the fast-changing tobacco market here along with the rise of new types of cigarettes. BAT Korea
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35% of S. Koreans view unification 'unnecessary'
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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