The Korea Herald

BUSINESS

All
Economy
Finance
Industry
Technology
Automode

LATEST NEWS

S. Korean Olympic chief nominated for IOC membership
Top diplomats of S. Korea, Japan to hold talks in Paris amid tensions over ...
Gender pay gap widens at large firms in Q1
Director Bong Joon-ho: stairs are a key metaphor in ‘Parasite’
Ministry, municipalities in talks to attract foreign investors for projects...
Kogas strives to improve workplace safety
Prosecutors seek arrest warrant for Samsung BioLogics CEO in accounting sca...
Samsung heir meets former US President George W. Bush
Samsung to gain in short term from Trump-Huawei standoff: analysts
[News Focus] What does Allergan gain from suit against Daewoong?

Today Industry

Ministry, municipalities in talks to attract foreign investors for projects worth $1.8 billion

South Korea is negotiating with foreign investors over new investment projects valued at $1.8 billion, according to the government. On Wednesday, the Ministry of Trade, Industry and Energy held a foreign investment policy meeting with 17 regional governments and seven free economic zones. Such meetings are held every quarter to monitor foreign investment and address challenges. The ministry said regional governments and free economic zones are in talks with foreign investors for 29 new investmen

Kogas strives to improve workplace safety

Korea Gas Corp. said Wednesday it is carrying out activities to improve workplace safety and prevent industrial accidents, along with regional communities and partner companies. Kogas employees hold a campaign for workplace safety on Jan. 29 at its headquarters in Daegu. (Kogas)The state-run natural gas company designates the fourth day of every month as the “day of safety inspections.” On the day, it holds campaigns to improve safety awareness among its employees and the public, in collaboratio

Today
Industry
Prosecutors seek arrest warrant for Samsung BioLogics CEO in accounting scandal

Prosecutors on Wednesday sought an arrest warrant for Samsung BioLogics CEO Kim Tae-han as part of their probe into allegations of accounting fraud at the company. Kim is suspected of ordering its employees to destroy evidence related to alleged fraudulent accounting, the Seoul Central District Prosecutors’ Office said. They also sought warrants to arrest two Samsung Electronics Co. vice presidents on similar allegations. Samsung Biologics CEO Kim Tae-han (Lim Jeong-yeo/The Korea Herald)Prosecut

May 22, 2019
Industry
Samsung heir meets former US President George W. Bush

Samsung Electronics heir apparent and Vice Chairman Lee Jae-yong met former US President George W. Bush, in Seoul on Wednesday. They met at a hotel in central Seoul on the first day of the former American president’s visit to Seoul. Lee reportedly asked for advice given the changing global economic environment and shared his vision for Samsung’s growth with Bush during a 30-minute closed-door meeting. Lee Jae-yong, vice chairman of Samsung Electronics Co., arrives at a hotel in Seoul on Wednesd

May 22, 2019
Industry
[News Focus] What does Allergan gain from suit against Daewoong?

Botox-maker Allergan has teamed up with South Korea’s Medytox in suing Daewoong Pharmaceutical and its US partner Evolus, challenging the latter’s legitimacy in sourcing botulinum toxin. Allergan accuses Daewoong of misappropriating trade secrets through a former Medytox researcher who allegedly stole BTX samples and transferred them to Daewoong.This brawl that has been building up since 2016 reached its climax this month, when the United States International Trade Commission ordered Daewoong to

Today
Industry
Hyundai E&C clinches $2.45b plant deal in Iraq

Hyundai Engineering & Construction has clinched a $2.45 billion deal to build a seawater processing facility in Iraq, marking its first overseas contract this year, officials said.The South Korean builder on Wednesday signed a letter of intent with the state-run Basra Oil Co. for a 49-month project to build a seawater supply plant in the southern state of Basra.Once completed, the facility will be capable of supplying 5 million barrels of fresh water per day, contributing to increasing crude oil

Today
Industry
US e-cigarette brand Juul lands in Korea

Despite government efforts to curb smoking, the tobacco industry here and abroad has been advancing with new innovative products, the latest being US e-cigarette maker Juul Labs that formally launched here Wednesday.Juul claims that that its vape pens will hit the local market Friday, challenging the tobacco market here which has recently been led by heat-not-burn tobacco devices. Juul Lab’s vaping e-cigarette Juul (Kim Da-sol/The Korea Herald)It is the American startup’s first Asia-Pacific ent

Today
Industry
Posco upgrades benefit sharing incentives for business partners

South Korea’s largest steelmaker Posco will be upgrading its benefit sharing system, expanding opportunities for small and medium-sized enterprises and increasing performance compensations, the company said Thursday.Pioneered by Posco in 2004, benefit sharing system is a joint cooperation between corporates and SMEs that provides a win-win scenario for both parties. Not only can SMEs utilize technologies of large corporates, but corporates can also improve its materials and secure a stable suppl

Today
Industry
South Korea seeks to become bio-health powerhouse, invest W4tr in bio big data

North Chungcheong Province set aside 8.2 trillion won for 120 bio-health projects by 2030

Today
Industry
Posco to invest W1tr in fostering aspiring startups

South Korea’s largest steelmaker Posco said Tuesday it plans to invest 1 trillion won ($838 million) to nurture promising domestic startups.The core aim of the project is to establish an industrial complex, called Venture Valley, for startups that will aid firms in research and development. It will also launch a startup fund, called Venture Fund, to help a slew of firms in association with the Ministry of SMEs and Startups and the Korean Venture Capital Association.Some 200 billion won will be i

May 22, 2019
Industry
Under growing pressure to boycott coal, banks face ‘client dilemma’

South Korea’s leading commercial banks face a growing dilemma, caught between the interests of clients that generate power from coal and a global drive for coal-free financing. While their loan volume continues to grow in both the coal and renewable energy sectors, pressure is building on Korean lenders to shift their investment rules toward decarbonization.(Yonhap)According to industry data submitted to the National Assembly, the country’s four major commercial banks -- Shinhan, KB Kookmin, KEB

May 22, 2019
Industry
VCs, accelerators and entrepreneurs share insights on startup ecosystem

DAEJEON--Government officials, investors, and startup CEOs flocked to Daejeon City, the nation’s fifth-largest city, on Tuesday to participate in EXIT Daejeon 2019, a startup conference being held from Tuesday to Thursday.At Daejeon Convention Center, the main venue of the conference, fledgling startup CEOs took the stage to pitch disruptive ideas in front of a panel of judges early in the morning Tuesday.The Investor Editor-in-Chief Kim Ji-hyun (from left) and panelists -- Slush Head of VC Moaf

May 22, 2019
Industry
Finding right people is key to growth of startups: Slush CEO

DAEJEON -- Slush, which first started as a small nonprofit event for startups in Finland in 2008, has grown into one of the leading events where investors, government officials and entrepreneur wannabes rub shoulders and discuss how to bring disruptive ideas to life.Andreas Saari, Slush head and CEO of Wave Ventures, the first student-run venture capital fund in the Nordic region, said market conditions in Finland have become more favorable for startups since the establishment of the startup con

May 22, 2019
Industry
SK Group comes up with way to measure firm’s social contribution

S. Korean conglomerate said its three key conglomerates created W12.3tr ($10.3 billion) worth of social contribution last year

May 21, 2019
Industry
Korean startups get support from state-led incubation program

The South Korean government has been running the Accelerator Investment-Driven Tech Incubator Program for Startups, or TIPS, with public and private sector partners, to discover and nurture promising startups Startups under three years old are eligible to apply for the program led by the Ministry of SMEs and Startups. Each selected team is eligible to receive up to 1 billion won ($838,000) in funding, used as seed capital, research and development expenses or marketing fees.For years, the progra

May 22, 2019
Industry

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