Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Liberal bloc moves to rewrite student rights ordinance
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Samsung buys U.S. cloud services firm
South Korean tech giant Samsung Electronics Co. said Thursday it has acquired U.S. cloud service company Joyent Inc. to cope with rising demand for cloud platform services.Joyent, a San Francisco-based cloud provider, has come under Samsung's wing as of Wednesday (U.S. time), the South Korean tech firm said in a statement. Samsung's acquisition of the U.S. startup firm signals its interest in cloud computing that has become fundamental in providing users with reliable services on their mobile an
June 16, 2016
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Kuraray to add PVB film production facility to Ulsan plant
Japanese chemical company Kuraray held a groundbreaking ceremony on Thursday to build a production facility for polyvinyl butyral film at a plant of its South Korean unit in the southeastern city of Ulsan.PVB is a glass interlayer used in creating safety glass in the automotive and architectural industries. The company plans to complete the construction of the PVB production facility by the end of next year with an investment of $50 million.Kuraray's expansion of the local plant is part of its e
June 16, 2016
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Top 10 chaebol owners rake in hefty dividends
[THE INVESTOR] The nation’s top 10 chaebol owners raked in hefty dividends from affiliates over the past five years, Chaebul.com, a local website that tracks chaebol, revealed on June 15. The total amounts of dividends reached almost 1.5 trillion won ($1.3 billion) between 2011 and 2015.Chaebul.com said their actual dividends could be a lot more considering the figures are based on their listed companies only. #1 Samsung Electronics chairman Lee Kun-hee with 681.1 billion won in dividends The Sa
June 15, 2016
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Cheil Worldwide to jack up investment, hiring: sources
Cheil Worldwide Inc., the advertising unit of the Samsung Group, plans to raise its investment and hiring this year after its negotiations to sell a controlling stake to a French advertising giant fell apart, industry sources said Wednesday.The company, part of South Korea's largest family-controlled conglomerate, plans to push forward with aggressive mergers and acquisitions and set a goal to expand its sales by more than 10 percent in 2016, they said.The country's No. 1 advertising company log
June 15, 2016
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U.S. biz community to help Korean startups go global
Major U.S. firms operating here on Tuesday joined the South Korean government's efforts to help local startups globalize.Members of the American Chamber of Commerce in Korea held a ceremony in Seoul to launch the "Global Leading Companies Mentoring Startups" campaign in partnership with the Ministry of Science, ICT and Future Planning.Nineteen American companies participated in the event, including Facebook, IBM, Microsoft and Boeing.They agreed to provide 14 selected South Korean startups with
June 14, 2016
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Kumho Asiana chief meets with daughter of former Chinese premier
Kumho Asiana Group Chairman Park Sam-koo met with a high-profile Chinese woman in charge of promoting friendship with foreign countries and they discussed ways to boost exchanges between the two sides, a Kumho Asiana official said Thursday.The meeting between Park and Li Xiaolin, president of the Chinese People's Association for Friendship with Foreign Countries, took place in eastern Seoul, the official said, without elaborating. (Kumho Asiana Group)Li, the daughter of former Chinese Premier Li
June 9, 2016
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Asiana Airlines, Kumho Industrial sell off landmark building in Vietnam
Asiana Airlines Inc., South Korea's No. 2 flag carrier, said Thursday it has sold a 50 percent stake in Kumho Asiana Plaza, a Vietnamese landmark building, to Saigon Boulevard Holdings Pte. Ltd as part of its efforts to improve its financial health.The $107.5 million deal was completed between the carrier and the affiliate of Singaporean property developer Mapletree Investments Pte earlier in the day, an official of Asiana Airlines said.Kumho Asiana Plaza built by Kumho Industrial Co., the const
June 9, 2016
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Hyundai Glovis chief rated as top local CEO
The president of Hyundai Glovis Co., a logistics unit of South Korean auto giant Hyundai Motor Group, has been rated as the best performer among CEOs of the country's top 500 companies, data showed Thursday.According to the data by market researcher CEO Score, Kim Kyung-bae received 64.5 points out of a possible 100 in an assessment of CEOs' management performances in 2015. The Hyundai Glovis CEO placed second last year.Cho Hwan-eik, president of state-run Korean Electric Power Corp., and Park S
June 9, 2016
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Samsung SDS mulls split of logistics biz
Samsung SDS Co., a key IT unit of the Samsung Group, said Tuesday that it is considering splitting its logistics business in a bid to foster competitiveness."The company is reviewing a plan to split off the Samsung SDS logistics division to strengthen competitiveness in global logistics and focus on management capacity," the company stated in a regulatory filing.Samsung SDS said it will "seek further ways to strengthen sectors other than logistics amid rapid market changes (in the industry) such
June 7, 2016
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Secucen to build e-signature platform for hospitals
On May 25, Secucen (CEO Kim Je-ho), a fintech security company, announced that it is currently conducting a project with large domestic hospitals to build an electronic signature platform. This e-signature solution will replace handwritten signatures with biometric information for the purpose of executing operation permissions, among others. The purpose of the platform is to prevent potential factors that could lead to medical disputes among medical institutions, patients, and patients’ families
June 2, 2016
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Family-controlled firms show higher profitability: report
Family-run companies were found to generate higher profitability compared to rivals, a report said on Thursday, claiming that involvement by "owner" families leads to good business results.According to the report compiled by the Korea Economic Research Institute (KERI), 4,683 family-controlled firms here posted a return on asset (ROA) ratio of 3.7 percent between 2000 and 2014.A family-controlled firm in the report is defined as family members having a stake of 20 percent or more, or two or more
March 31, 2016
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Former KORAIL chief summoned over corruption in urban development project
Prosecutors summoned a former chief of Korea's rail operator Thursday on suspicions of bribery in connection to a now-scrapped urban development plan in Seoul.Huh Joon-young, who led the Korea Railroad Corp. (KORAIL) from 2009 to 2011, appeared before the Seoul Central District Prosecutors' Office in southern Seoul. Huh Joon-young, former president of the Korea Railroad Corp. (Yonhap)The 63-year-old is accused of receiving illegal political funds from his aide, identified only by his surname Soh
March 31, 2016
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[Super Rich] Hyundai Corp. latest Chung family group
Leading Korean trading company Hyundai Corp. has become the latest member of the so-called Chung Ju-yung family conglomerate groups -- which include Hyundai Motor Group, Hyundai Group, Hyundai Department and Hyundai Heavy Industries -- with the Fair Trade Commission approving its separation from HHI last week. The late business tycoon Chung founded Hyundai in 1947.The move was expected as Hyundai Corp. chairman Chung Mong-hyuck secured controlling stake in the company and Hyundai C&F, a wholesal
March 29, 2016
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Hyundai E&C bolsters CSR activities in Vietnam
Hyundai Engineering & Construction, the construction arm of Hyundai Motor Group, is strengthening its corporate social responsibility activities as part of efforts to cement its status as a global builder in Vietnam. “After a half-century since the entry to Vietnam back in 1966, the company is evolving into a global infrastructure builder there,” the nation’s top builder said in a press release on Monday. A group of students from the Hanoi Industrial Vocational College take part in the construct
March 21, 2016
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[Photo News] Posco Daewoo marks new name
POSCO DAEWOO MARKS NEW NAME -- POSCO Daewoo CEO Kim Young-Sang (right) waves the firm’s flag to mark its new name while POSCO chairman Kwon Oh-joon applauds during a ceremony at Incheon Songdo Convensia on Monday. (POSCO Daewoo)
March 21, 2016
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KHNP completes 90% safety measures against nuclear accidents
State-run Korea Hydro & Nuclear Power Corp., operator of the nation’s 25 nuclear reactors, said Tuesday that the company has completed 87.5 percent of its planned safety measures against accidents that it developed as a follow-up after the Fukushima Daiichi nuclear disaster in 2011.“The company has been proceeding with the completion of safety-related tasks by 2020 under its safety management roadmap for the past five years,’’ a KHNP official said. The Kori nuclear power complex located in Busan
March 15, 2016
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SK chief's daughter serving in unit defending South Korea's NLL
The daughter of the chairman of SK Group, South Korea's third largest business conglomerate, is serving with a naval unit defending South Korea's sea border with North Korea, a military source said Tuesday.Chey Min-jung, the second daughter of Chey Tae-won, was commissioned as a naval officer in November 2014 and has since taken part in the Navy's anti-piracy mission off the coast of Somalia last year."Lieutenant Chey has been posted to the headquarters section of the frontline unit under the 2n
March 1, 2016
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[Newsmaker] Will SK chairman retake board membership?
With the season for annual shareholders meetings of the nation’s conglomerates approaching, the limelight is on SK Group chairman Chey Tae-won once again. Two months ago, the business tycoon suffered a public backlash with his confession about an extramarital affair and a love child. This time, attention is being paid not to his personal life but to his return to the executive board of key affiliates of the nation’s third-largest conglomerate. One reason why the chairman’s move is drawing pu
Feb. 22, 2016
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Attocube to participate in Mobile World Congress Barcelona 2016
On February 16, Attocube (CEO: Sangtaek Han) announced that it will be participating in the Mobile World Congress (MWC) in Barcelona on February 22 through the sponsorship of the Gyeonggi Center for Creative Economy & Innovation and KT. A startup company that develops smart toys, Attocube will be displaying the “Attocube,” an educational product for children that features wooden blocks that can be used in conjunction with a mobile application, at this year’s congress.Children playing with differ
Feb. 19, 2016
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Economic uncertainty spurs real estate investment
Despite growing global fears over economic uncertainty, cross-border direct real estate investments in major cities around the world are expected to increase this year, drawing a comparison with shaky stock and bond markets, according to experts.Explaining the attractive nature of direct real estate investment, Alistair Meadows, Asia-Pacific head of International Capital Group within global real estate service firm Jones Lang LaSalle, and David Green-Morgan, director of Global Capital Markets Re
Feb. 15, 2016