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Ulsan extend K League 1 lead with victory over rival club
Asiana to increase excess baggage fees on int'l flights in Jan.
Gov't to grant conditional leave for medical students protesting medical school quota hike
Twins beat Wiz to even KBO postseason series
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
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[Photo News] Shopping fever remains
Oct 13, 2017
Korea has a number of seasonal festivals for visitors to enjoy, but for shoppers and Hallyu fans, one golden opportunity may be the Korea Sale Festa, a monthlong shopping festival taking place through October.In recent months, a sharp drop in the number of Chinese group tourists here was considered a serious threat to this annual event, but popular shopping districts are seeing business pick up again.Taking the place of Chinese tourists are visitors from Southeast Asia and North America. Many ar
US court temporarily dismisses Medytox’s BTX theft case against Daewoong
Oct 13, 2017
A US court has temporarily dismissed a lawsuit that South Korea’s botulinum toxin maker Medytox filed against its domestic rival Daewoong Pharmaceutical and its US partner Alphaeon Corp., claiming intellectual property theft.The Superior Court of California in Orange County on Thursday ruled that the case should be settled in Korea, the country where the issue initially emerged. It will review the case again on April 13, 2018, after Korea’s courts makes a decision on the case.Medytox released a
Samsung BioLogics, Celltrion stocks soar
Oct 13, 2017
The stock prices of Korean biologics companies Samsung BioLogics and Celltrion soared to new highs Friday, putting a spotlight on the biologics market. On Friday, Samsung BioLogics broke 400,000 won ($354) per share to reach a high of 411,000 won, setting a new record. The jump made the company the sixth-most valued stock on the Kospi bourse, up from 13th two days ago. The sharp rise came after the biologics contract manufacturer announced Thursday that its second production plant in Songdo had
[Monitor] Most super luxury sports cars registered as company vehicles
Oct 13, 2017
Despite a change in taxation on company cars, the practice of individuals purchasing super luxury sports cars under a company’s name to avoid taxes continues to remain rampant, the office of Rep. Shim Ki-joon said in a parliamentary audit.Citing data from the Korea Automobile Importers and Distributors Association, Rep. Shim said the proportion of such cars registered in company names remains little changed, with some models even showing an increase since the law was revised last year.Under the
Lotte Mart’s sales in China expected to fall W1.2tr in 2017
Oct 13, 2017
Discount retailer Lotte Mart’s sales in China are expected to fall by 1.2 trillion won ($1 billion) this year amid the fallout from intergovernmental tensions.According to data submitted by Lotte Mart to Rep. Kim Su-min of the People’s Party, sales at the retailer’s Chinese stores fell 750 billion won on-year between January and August this year. Total on-year losses in sales for 2017 are projected to reach 1.2 trillion won.After signing a land-swap deal with the Korean government for the deploy
[Newsmaker] Samsung CEO Kwon Oh-hyun steps down from management
Oct 13, 2017
Just hours after forecasting another quarter of record profits on strong chip sales, Samsung Electronics announced its chip leader would be resigning, which some viewed as a carefully timed move to offset possible market jitters. The unexpected move, however, stoked speculation of a large-scale personnel reshuffle at the tech giant. It also prompted further concern over the management of the conglomerate in the absence of Vice Chairman Lee Jae-yong, who has been jailed over bribery. Kwon Oh-hyun
Samsung posts record profits in Q3 on strong chip sales
Oct 13, 2017
Chief Executive Kwon resigns same day
Lotte Mart's sales in China plunge 65% amid THAAD row
Oct 13, 2017
Sales of Lotte Mart, the discount store chain of South Korean retail giant Lotte, in China dropped nearly 65 percent in the first eight months of this year in the face of Beijing's retaliation over Seoul's installation of a US anti-missile system, data showed Friday.According to the data provided by Lotte to Rep. Kim Su-min for the ongoing parliamentary audit, its sales came to 410 billion won ($362 million), down 64.7 percent from 1.16 trillion won tallied for January to August of 2016.Lotte re
Creditors appoint new CEO of debt-ridden Kumho Tire
Oct 12, 2017
Creditors of Kumho Tire Co. on Thursday appointed a former chief executive of the financially troubled tiremaker in a move to help put it back on track.Creditors led by the state-run Korea Development Bank (KDB) named Kim Jong-ho, 70, as CEO and president of the country’s No. 2 tiremaker as he was formerly involved in the company’s debt-rescheduling programs during his term as chief executive at Kumho from 2009 to 2012.They also appointed Han Yong-seong, 63, formerly from Woori Bank, who had bee
Eight indicted for involvement in spy agency’s political meddling
Oct 12, 2017
The prosecution indicted two current and six former officials of the National Intelligence Service Thursday for their involvement in a massive political maneuver set up to benefit the two previous governments.The Seoul Central District Prosecutors’ Office said a 53-year-old surnamed Chang and a 50-year-old surnamed Hwang, both in custody, were put on trial for engaging in online activities in violation of NIS law that bans political interference. It also charged six others -- NIS retirees -- wi
Korea Airports Corp. signs agency contract for Iran sales
Oct 12, 2017
Korea Airports Corp. said Thursday that it signed an agency contract to promote sales of navigational aid systems and airport equipment in Iran.The contract with Iranian construction company Tolid Malzomat Bargh was signed Tuesday at the Inter Airport Europe trade fair in Germany. Lotte Chairman Shin Dong-bin (center) waves a flag bearing the new logo for Lotte Corporation at Signiel Seoul on Thursday. (Lotte)TMB Co., which designs and manufactures electrical equipment in Iran, will promote sal
Lotte’s holding company sets sail, but hurdles remain
Oct 12, 2017
Retail giant Lotte Group officially established its holding company Lotte Corp. on Thursday, marking the first step toward streamlining its governance structure to increase transparency. However, the conglomerate still faces significant hurdles before the new system finds stability. Lotte Chairman Shin Dong-bin (center) waves a flag bearing the new logo for Lotte Corporation at Signiel Seoul on Thursday. (Lotte)“Lotte Corp. is the beginning of Lotte’s vision of increasing management transparency
Samsung appoints new executive for Bixby development
Oct 12, 2017
Samsung recently appointed a new executive for the development of its voice assistant Bixby in a move to enhance the performance of the assistant which is facing a lackluster response from the market. The Korean tech giant confirmed Thursday Samsung Research America’s vice chief Chung Eui-suk is now the head of service intelligence group in its headquarters in Korea. The service intelligence group is in charge of developing Bixby and other artificial intelligence services. Before joining the gro
Samsung BioLogics’ 2nd plant approved by US FDA
Oct 12, 2017
Samsung BioLogics, a contract manufacturer of biologic drugs under South Korea’s Samsung Group, said Thursday that its second production plant in Songdo had been approved for commercial production by the US Food and Drug Administration. With the US FDA license, Samsung’s second plant equipped with 152,000 liters of production capacity is now able to commercially manufacture its first monoclonal antibody biologic drug substance for sale to the US. Samsung BioLogics` headquarters in Songdo, Incheo
[Video] Ikea Gyang focuses on environment, sustainability
Oct 12, 2017
Swedish home-furnishings giant opens at new location following success of first Gwangmyeong store
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Military aircraft evacuating S. Koreans in Lebanon returns home
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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