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[Behind The Wheel] Tale of two sports cars in wintery Korea

GM’s new Camaro SS is a rough diamond to Mercedes-Benz’s refined CLS 400 d 4Matic

[News Focus] China, ASEAN countries emerge as biggest consumers of Korean agro-fishery products

SEJONG -- South Korea’s agro-fishery products are gaining popularity in China and Southeast Asia on the back of their reputation for quality, freshness and safety.According to the Ministry of Oceans and Fisheries, exports of fishery products hit an all-time high of $2.386 billion in 2018, surpassing the former record of $2.383 billion set in 2012.While the largest and second-largest export destinations for marine products were Japan with $760 million and China with $390 million, exports to Japan

Today
Industry
[On the Bar] Virtual currency subject to confiscation, Supreme Court rules

On the Bar is a regular column written by attorneys at Yoon & Yang LLC on various laws and regulations that affect running a business in Korea. The content provided here is general legal information. -- Ed.Last year for the first time, the Korean Supreme Court recognized a cryptocurrency as an “asset with measurable value.” In its landmark ruling on May 30, 2018, the Supreme Court held that cryptocurrency has a property value and is subject to confiscation as criminal proceeds if obtained illega

Today
Industry
JW Pharmaceutical gains Korean approval for Hemlibra

JW Pharmaceutical said Sunday that it had gained the South Korean drug regulator’s nod to begin domestic sales of the hemophilia treatment Hemlibra, developed by Chugai, a Roche-owned company.JW Pharmaceutical obtained an exclusive license to sell Hemlibra on the Korean market in 2017.The Ministry of Food and Drug Safety has now approved the antibody for the treatment of patients with hemophilia A, with or without factor VIII inhibitors. (flickr @zhouxuan12345678)Hemlibra is the first, and so fa

Today
Industry
KB, Shinhan regroup as competition heats up for ‘leading bank’ title

Korea's top two banks hold key meetings to recognize recent business performance, to set fresh strategies for new year

Today
Finance
[Photo News] Newest hightech closet

HIGH TECH CLOSET -- A model poses next to LG Electornics’ latest refurbished steam closet that hits the local market, Monday. The second product to LG’s high-end “Black Edition” smart closet line, the Tromm Styler Black Edition Slim has reduced in size from the previous capacity to hang six items to four, the company said. Its full mirror facade aspires to add to interior-design. Tromm Styler was globally acknowledged at the CES 2019 with “CES 2019 Innovation Awards.” (LG Electronics)

Today
Industry
Samsung Bioepis’ breast cancer biosimilar gains FDA approval

Samsung Bioepis’ Ontruzant, a breast cancer treatment biosimilar referencing Roche’s Herceptin, won US Food and Drug Administration approval Saturday, expanding the list of Herceptin successors in the US market to three.Ontruzant is the third FDA-approved biosimilar of Switzerland firm Roche’s blockbuster breast cancer antibody. Its FDA approval is preceded by Mylan’s Ogivri in December 2017, and Celltrion’s Herzuma in December 2018.The three firms’ biosimilars are expected to simultaneously hit

Today
Industry
LG Electronics to unveil foldable smartphone for VIPs at MWC: source

Amid rumors about whether LG Electronics intends to join the upcoming foldable smartphone competition, a source confirmed to The Korea Herald on Sunday that the company will showcase a foldable smartphone exclusively to its business-to-business customers at Mobile World Congress 2019 in Barcelona next month. “LG will showcase the foldable smartphone under development to its VIP customers at a private booth to be set up the MWC,” said the source, who is familiar with the company’s mobile communic

Today
Technology
Exports of small firms hit record high in 2018

Exports of small and medium-sized South Korean firms hit a record high of $114.6 billion last year, government data showed Sunday, due to a robust global manufacturing sector.The figures represent an 8 percent increase from 2017, according to the data compiled by the Ministry of SMEs and Startups. It was the second straight year that the export volume of small and medium-sized firms surpassed $100 billion.By product, plastic goods remained the top export item for the second consecutive year with

Today
Industry
Korea to spend W7.3b on unmanned vehicle technology in 2019

South Korea will spend 7.3 billion won ($6.51 million) this year to develop innovative technologies for aerial, marine and ground-based unmanned vehicles, the government said Sunday.　The Ministry of Science and ICT said it has finalized the scale of various projects to secure core technologies that can allow autonomous vehicles to operate in the air, on land and at sea. Google`s self-driving vehicle (Google)　“(The government) will make efforts to overcome the limits of commercialization of unma

Today
Automode
Korea’s pension fund suffers loss in investment in 10 conglomerates

South Korea’s state-run pension fund suffered valuation losses from its investment in the country’s 10 major conglomerates due to declines in their stocks, data showed Sunday.　The National Pension Service held an average 7.76 percent stake in the conglomerates at the end of 2018, compared with 6.62 percent at the end of 2017, according to data compiled by Chaebul.com, which tracks South Korean conglomerates. (Yonhap)　But the value of the NPS’s stock holdings in the 10 conglomerates fell to 66.45

Today
Finance
4 foreign banks fined W693m for price-fixing of FX derivatives

South Korea‘s antitrust watchdog said Sunday that it has fined four foreign banks 693 million won ($618,000) for fixing the prices of foreign exchange derivatives and selling them to five South Korean companies.　The Fair Trade Commission said Standard Chartered Bank Korea and the local units of Deutsche Bank AG, JPMorgan Chase & Co. and HSBC agreed on prices of foreign exchange derivatives on seven occasions between March 2010 and February 2012. Standard Chartered Bank Korea`s head branch in cen

Today
Finance
BOK issues catalogue on currency history

The central bank has issued a new art catalogue, offering a periodic introduction to South Korea’s currency, officials said Sunday.The Bank of Korea’s Money Museum has published “Korea’s Money,” a catalogue that lists the country’s currencies dating back to the Goryeo Dynasty. (Bank of Korea)The latest catalogue, a new edition of its previous art books, includes large- pictures of various currency designs, according to the BOK.“The focus was to improve the visual effects and underline the charac

Jan 18, 2019
Finance
Seoul shares to move within limited range next week

South Korean stocks are expected to move sideways next week as concerns about lackluster corporate earnings and China's slowing economy could dent investor sentiment, with eyes trained on ongoing trade negotiations between Washington and Beijing, analysts said Saturday.The benchmark Korea Composite Stock Price Index closed at 2,124.28 points on Friday, marking a 2.3 percent surge from a week earlier.The index started on a weak note as the prolonged US government shutdown and concerns over the sl

Jan 19, 2019
Finance
Credit card firms bet on digital switchover, big data for survival

Card operators blame commission fee cuts for this year’s dismal profit projections

Today
Finance

The Korea Herald by Herald Corporation

Address : Huam-ro 4-gil 10, Yongsan-gu,Seoul, Korea
Online newspaper registration No : Seoul 아03711
Date of registration : 2015.04.28
Publisher. Editor : Kwon Chung-won
Juvenile Protection Manager : Yang Sung-jin
Tel : 02.727.0114