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First lady’s Dior bag scandal to be at center of Assembly audit
Can Jennie break the K-pop solo artist slump?
[Herald Interview] Toonsquare aims to open new era for webtoon creation with AI
Money Festa 2024 offers investment tips in uncertain market
Fight over Korea Zinc becomes game of chicken
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
Changwon sculpture biennale tells story of city as industry mecca
McDonald’s Korea recognized for enhancing job security for seniors
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
LG Energy Solution aims high in North America’s ESS market
[KH Explains] Can G-Star level up?
[Herald Design Forum] Jean-Michel Wilmotte shares his vision for Centre Pompidou Hanwha Seoul
Yoon set for talks with Marcos in Philippines
More foreign automakers to share EV battery data with Korea
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
Seoul revises pilot program for Filipina domestic workers after initial trial
Over 60% of automotive exports shipped to N. America in Jan.-Aug.
S. Korean central bank likely to cut key rate this week: experts
N. Korea to hold parliamentary meeting to amend constitution, remove unification provisions
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[Newsmaker] Woori Bank scandal sets off leadership alert in banking industry
Nov 12, 2017
Woori Bank’s recruiting scandal is not only causing a major setback to its decadeslong aspiration for complete privatization, but also bringing renewed attention to alleged irregularities surrounding other major banking groups, many of whose leaders are seeking re-election.The bank‘s plan to sell out remaining government stakes has been facing setbacks, mainly due to the latest scandal that it had offered special favors to children of high-profile officials and VIP clients in last year’s open re
Samsung will further lose Chinese market share in Q4: report
Nov 12, 2017
Samsung Electronics’ share of the Chinese smartphone market will drop to below 2 percent in the fourth quarter, according to Strategy Analytics.According to the report released last week by the US research firm, Samsung ranked ninth in the world’s largest smartphone market, with a 2 percent share in the third quarter. This share is predicted to further drop to 1.6 percent in the fourth quarter, according to SA. Samsung, once the dominant player in China with a share of around 20 percent, has gra
[Ask a Lawyer] Managing risks related to customs value evaluation
Nov 12, 2017
Ask a Lawyer is a regular column written by attorneys at Yoon & Yang LLC on various legal aspects of the Korean life or business. The content provided here is general legal information, not legal advice on a specific situation. -- Ed.Q: How can a multinational company eliminate its risks on customs value calculations when its Korean subsidiary imports goods from its affiliates abroad?A: Let us assume that a Korean subsidiary (company A) of a multinational company imports goods from its affiliate
Retail oil prices in Korea up for 15th straight week
Nov 11, 2017
Retail oil prices in South Korea rose for a 15th consecutive week in line with a hike in global crude oil prices, data showed Saturday.The average gasoline price nationwide was at 1,512.1 won ($1.35) per liter in the second week of November, edging up 4.1 won from a week earlier, according to the data compiled by the state-run Korea National Oil Corp. (KNOC). (Yonhap)Average diesel price also climbed 4.5 won to 1,304.1 won per liter, marking a 16-week gaining streak, the data showed.Gasoline pri
Ex-trade minister tapped as KITA chief
Nov 10, 2017
A former trade minister has been appointed the head of the country's leading trade promotion agency, with final approval expected to be given at a meeting set for next week, the Korea International Trade Association said Friday. The representative member companies of KITA held a meeting earlier in the day to appoint former Trade, Industry and Energy Minister Kim Young-joo as its chairman and CEO, a spokeswoman said. Former trade minister Kim Young-joo (Yonhap)The appointment is subject to appro
Samsung delays reshuffles in absence of control tower
Nov 10, 2017
Samsung Electronics and other Samsung affiliates delayed their announcements of new executives Friday afternoon, amid rumors that they are facing difficulties in making choices without a control tower that used to coordinate such decisions.Each Samsung unit was reportedly to make their announcements within this week -- the first large-scale organizational shake-up since the Future Strategy Office was disbanded in February in the face of public criticism for exercising too much power while holdin
KAI faces cost-cutting pressure for T-X program: KAI chief
Nov 10, 2017
Korea Aerospace Industries is facing pressure to continue cutting costs in its joint bid for the US Air Force’s T-X program together with Lockheed Martin, according to the company’s chief executive Friday.“In effect, the bidding has come down to Lockheed Martin and Boeing. We are a partner of Lockheed Martin,” newly appointed KAI chief Kim Jo-won told reporters. “We are continually discussing ways to cut costs so that we can offer a lower bid.” KAI President Kim Jo-won (KAI)However, Kim said th
Korean aerospace company in talks with 9 countries to export planes
Nov 10, 2017
Korea Aerospace Industries Co., the country's sole aircraft manufacturer, said Friday it is in talks with nine countries to export its trainer aircraft.The company exported a total of 145 trainer planes -- made up of the turboprop KT-1 basic trainer and the supersonic T-50 advanced jet to countries in Europe and emerging markets in Asia, Africa, Latin America and the Middle East. The total value of sales has reached $3.7 billion so far.In a press meeting, KAI President and Chief Executive Kim Jo
Hyundai Merchant narrows operating loss in Q3
Nov 10, 2017
Hyundai Merchant Marine Co., South Korea's top shipping firm, said Friday that it continued to suffer an operating loss in the third quarter of the year due to increased fuel costs and still lower freight rates but that it successfully narrowed the loss from a year earlier on cost-saving efforts.Its operating loss was 29.5 billion won ($26.4 million) in the July-September period, compared with 230 billion won the previous year, the company said.The third-quarter bottom line marks the 10th quarte
Union at LG household & Healthcare to end strike
Nov 10, 2017
A labor union at LG Household & Healthcare said it decided on Friday to end its strike over the salary increase issue on the 52nd day of the walkout. Around 400 union members have set up tents outside the company's headquarters in downtown Seoul since Sept. 23, following the start of the strike on Sept. 20. The union and the management have held 19 rounds of negotiations during the subsequent period to find a compromise but have not made any progress, officials from the two sides said.The union
Refiners report solid Q3 earnings on expanded margins
Nov 10, 2017
South Korean oil refiners, led by SK Innovation Co., delivered strong earnings for the third quarter of the year on the back of good refining margins and solid demand for key products, their filings showed on Friday.SK Innovation Co., the top oil refiner, reported an 87 percent rise in its third-quarter net profit from a year earlier thanks to higher oil prices and improved cracking margins.Net profit stood at 696 billion won ($625 million) in the July-September months, compared with a profit of
Restaurants expecting better business in fourth quarter
Nov 10, 2017
The restaurant business was somewhat stunted in the third quarter this year but is expected to improve in the fourth quarter, mostly for those that serve foreign food, a sentiment survey showed Friday.The Korea Restaurant Business Index, released jointly by the Ministry of Agriculture, Food and Rural Affairs and the Korea Agro-Fisheries and Food Trade Corp., measured at 68.91 in the past quarter, lower than the 69.04 of the second quarter. The index is derived based on sales during the current a
Shinsegae Duty Free to launch membership service for WeChat users
Nov 9, 2017
The duty-free unit of Shinsegae, a major retailer here, said Thursday it will provide a membership service for users of WeChat, China‘s leading messaging app, as it attempts to expand its presence overseas. Shinsegae Duty Free said it will provide various shopping information and discounts for those who sign up for membership via the messaging platform. (Yonhap) The company’s move to attract more customers from the neighboring country comes as local retailers are gearing up for a potential inflo
[Save the startups] Southeast Asia may be answer for South Korea’s aspiring unicorns
Nov 9, 2017
Global investors point to similarities, cultural empathy, liberal business environment, coupled with large demand for high technology
Korea approves Samsung Bioepis’ Herceptin biosimilar
Nov 9, 2017
Korean drug regulators approve Samsung Bioepis’ first cancer-fighting Herceptin biosimilar ‘Samfenet’
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Military aircraft evacuating S. Koreans in Lebanon returns home
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