The Korea Herald

BUSINESS

All
Economy
Finance
Industry
Technology
Automode

LATEST NEWS

Lotte Group inks deals to sell 2 financial units
Leak of Moon’s phone chat with Trump stokes controversy
S. Korean stocks retreat, won dips amid US’ threat to slap duties
Govt. is making military brain-dead: main opposition leader
S. Korea to stage new civilian-military exercise next week
US commander says Pyongyang’s recent missile launches ‘routine military a...
Posco begins collective bargaining with union
Unification minister hopes better inter-Korean ties lead to resumption of n...
Moon meets farmers planting rice in Gyeongju
[Newsmaker] One Navy officer dead, four injured in accident involving destr...

Today Finance

S. Korean stocks retreat, won dips amid US’ threat to slap duties

South Korean stocks fell Friday, while the won closed higher against the US dollar, hours after Washington’s remarks that it is considering to impose anti-subsidy duties on nations that undervalue their currencies against the greenback. The announcement, which came amid an intensifying US-China trade dispute, put Korea at risk of higher tariffs, alongside the world’s second-largest economy China, Japan, India, Germany, and Switzerland. The benchmark Kospi closed 14.28 points, o

Lotte Group inks deals to sell 2 financial units

Lotte Group signed deals to sell off its credit card unit and non-life insurer as part of efforts to meet regulatory requirements, with the combined value of the transactions roughly 1.7 trillion won ($1.43 billion), industry sources said Friday. According to the sources, retail-focused Lotte Group agreed to sell 80 percent of Lotte Card Co. to a Woori Bank-MBK Partners consortium for 1.3 trillion won. Woori Bank will own some 20 percent in the credit card firm, while the private equity fund wil

May 24, 2019
Industry
Posco begins collective bargaining with union

Posco, South Korea's top steelmaker, said Friday it has started this year's collective bargaining with its union.The union has made various requests to the management, including a base pay increase and an extension of the retirement age. Posco currently has two labor unions, but the one affiliated with the Federation of Korean Trade Union is recognized as the representing union with more than 6,600 members after receiving approval from the National Labor Relations Commission last December.

May 24, 2019
Industry
Moon meets farmers planting rice in Gyeongju

President Moon Jae-in visited a southeastern rural village Friday to encourage farmers who were busy planting rice. He briefly planted rice himself and attended the test operation of an agricultural drone and a self-driving rice-planting device in Oksan village in Gyeongju, 371 kilometers southeast of Seoul, according to his office, Cheong Wa Dae."Given the reality of rural areas suffering difficulties from the aging population and labor shortages, there's a desperate need to develop and sp

May 24, 2019
Economy
Diageo Korea introduces fully paid family leave for employees

Diageo Korea, the South Korean unit of the liquor maker, said Friday it will offer fully paid family leave for employees from July. This is in line with the headquarters’ global family leave policy, introduced as part of efforts to become a leading employer in the area of gender equality in the workplace and to create a more inclusive corporate culture, according to the company. Both female and male employees will benefit from paid family leave of up to 26 weeks and four weeks.&

Today
Industry
[Eye Plus] Green magic blooms in heart of Seoul

Farming in the densely populated city of Seoul is nothing new. Many urban farmers make use of vacant spaces on top of apartment buildings, schools and public buildings to grow vegetables. Some rent privately owned spaces to start their own green experiments. As of 2017, Seoul had 170 hectares of these farms, about the size of 238 soccer fields combined. In 2011, the figure was 29 hectares. The Seoul Metropolitan Government is a key backer of this growing urban farming trend.Earlier this year, it

May 24, 2019
Industry
Chinese minister plays down inter-Korean railway project

LEIPZIG, Germany -- Chinese Transport Minister Li Xiaopeng on Thursday said that China is not going to be involved in an inter-Korean railway project, saying it is “their own business.”When asked about China’s role in facilitating the project of reconnecting the railroad between South and North Korea, he said the project should be carried out by both countries, clearly indicating that China won’t be involved.“Reconnecting the railway network between two Koreas is their own business, and they hav

May 23, 2019
Automode
Blizzard receives award for youth support

Game publisher Blizzard Entertainment Korea received an award from the state-run Korea Student Aid Foundation on Thursday for supporting youths. Blizzard -- known for hit games “Starcraft,” “World of Warcraft,” “Hearthstone” and “Overwatch” -- has been providing scholarships and overseas training for youths who dream of careers in information technology and games.Since 2014, it has run the corporate social responsibility program Realize Your Dream in Korea. Blizzard Entertainment Korea CEO Jeon

May 24, 2019
Industry
Exit Daejeon announces W14.2b startup funding agreement

DAEJEON -- Startups from across South Korea, global startup community leaders and representatives of Daejeon Metropolitan City flocked to Daejeon Convention Center Thursday to mark the end of the three-day Exit Daejeon 2019 event. Located some 140 kilometers south of Seoul, Daejeon served as a venue where local startups were given an opportunity for more international exposure. In the meantime, global startup community organizers like Slush and Junction, as well as early-stage startup investors

May 24, 2019
Technology
Naver chooses 4 Asian countries as outposts for V Live service expansion

Vietnam, Indonesia, Thailand and Japan become 'strategic countries' for Naver to expand its K-pop livestreaming service

May 23, 2019
Technology
[Photo news] Paving the way to Myanmar

The Industrial Bank of Korea CEO Kim Do-jin (fourth from left) stands with Myanmarese officials ahead of the bank’s investment briefing held Thursday at the Korea Chamber of Commerce and Industry. Some 260 Korean companies interested in advancing into Myanmar attended the event to learn about the legal system and investment environment, through the mediation of the state-run bank. (IBK)

May 24, 2019
Finance
‘Competition laws should be more flexible in digital era’

Kakao CEO calls for forward-looking regulations amid fierce competition with Google, Facebook

May 24, 2019
Industry
Seoul to become first global city to use 5G network in public transit

SK Telecom and Seoul city government agree to develop 5G-based map for self-driving cars

May 23, 2019
Technology
K-water hosts global forum to address water scarcity

Experts discuss measures to tackle severe drought

May 23, 2019
Industry
Inaugural Korea Fintech Week kicks off

The inaugural Korea Fintech Week event kicked off in Seoul Thursday, bringing together more than 50 local startups and 2,500 attendees to share business ideas and clinch new investment opportunities.The three-day event taking place at the Dongdaemun Design Plaza in Seoul through Saturday is organized by the Financial Services Commission, Financial Supervisory Service and Fintech Center Korea.The CEOs of fintech operators, including mobile payment platform Kakao Pay, personal finance management a

May 24, 2019
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