ATLANTA -- Incheon International Airport Corporation has reaffirmed its status as a global leader in airport services by maintaining its top ranking in the Airports Council International's service evaluation for three consecutive years. At the sixth Customer Experience Global Summit held in Atlanta on Wednesday, Incheon Airport received both the Airport Service Quality "Best Airport" award and the "Most Enjoyable Airport" award, on top of the ACI's Customer Experien

Industry Sept. 26, 2024

Once a symbol of Korea‘s rapid economic growth, the Han River is poised to evolve into a “lifestyle platform” for citizens and the ultimate place for healthy pleasure, according to Joo Yong-tae, deputy mayor of the city government’s Future Hangang Project Headquarters. “The Han River is a source of both relaxation and pride for the citizens of Seoul,” Joo said in an interview with The Korea Herald in early September. “Until a few years ago, the Han Riv

Industry Sept. 24, 2024

진행자: 김혜연, Paul Kerry Seoul mulls removing W110b Sewoon walkway 기사 요약: 세운상가 공중보행로 철거 추진하는 서울시, 23일 공청회 예정 [1] The Seoul Metropolitan Government is mulling removing an elevated walkway at Sewoon Shopping Center in central Seoul, which cost the city government 110 billion won ($82 million) for its construction. The walkway which opened only two years ago has sparked "public discontent," said the city government, citing issues like inadequate sunlight underneath the walkways and problems

Podcast Sept. 23, 2024

Daewoo Engineering & Construction Chairman Jung Won-ju (center) participates in a business cooperation ceremony on Friday in the Czech Republic, with Martin Chrastil (right), CEO of Sudop Praha, and Cho Seung-il (left), executive director of Daewoo E&C's plant division. The partnership, established during South Korean President Yoon Seok Yeol's visit with an economic delegation, focuses on designing and licensing temporary and auxiliary facilities for the new nuclear power plan

Industry Sept. 22, 2024

With the upcoming US presidential election scheduled for November, South Korea stands to benefit significantly if the new administration brings a change in economic policy, according to Arthur B. Laffer, founder and chairman of Laffer Associates. "A return to pro-growth economic policies in the US is a prerequisite for widespread global economic growth, much as we saw during the Reagan era, where nations around the world cut tax rates after seeing US success," Laffer said during an ema

Economy Sept. 22, 2024

Daewoong Group announced Thursday that three of its subsidiaries will participate in a government-led project aimed at localizing raw materials for hyperlipidemia treatments amid a growing number of patients suffering from the disease here. Daewoong Pharmaceutical, Daewoong Bio and Daewoong Therapeutics were picked as primary organizers for the 2024 Material and Parts Technology Development Project, an over four year-long scheme initiated by the Ministry of Trade, Industry and Energy. Currently,

Industry Sept. 19, 2024

진행자: 김혜연, Paul Kerry 1 in 4 Korean workers extend Chuseok holiday with paid leave: survey 기사 요약: 명절에도 쉬지 못하는 한국인들, 4명 중 1명만이 추석 연휴 기간 중 유급휴가 [1] Chuseok is one of South Korea’s two biggest traditional holidays, bringing families together under the full moon to wish for a bountiful harvest and honor ancestors. But for hardworking ordinary people in Korea, the holiday's true significance perhaps lies in the rare opportunity it offers for people to escape the daily grind of their jobs.

Podcast Sept. 19, 2024

South Korean drug maker Daewoong Pharmaceutical has announced the launch of a new stem cell plant in Indonesia, marking the 20th anniversary of its entry into the Indonesian market. The facility is set to drive large-scale research and development projects in collaboration with local pharmaceutical and biotech industries, according to the firm. The stem cell plant, established by Daewoong Biologics Indonesia -- a subsidiary of Daewoong Pharmaceutical -- will begin full-scale operations following

Industry Sept. 13, 2024

During the five-day Chuseok holiday, leaders of food and distribution conglomerates are anticipated to refine their management strategies for the second half of the year, focusing on enhancing profitability in a challenging business environment. With the industry grappling with a downturn intensified by high prices and interest rates, the primary aim will be to devise measures to bolster profitability and navigate the performance crisis in the months ahead. According to industry sources on Frida

Industry Sept. 13, 2024

Korea’s largest beer maker Oriental Brewery is seeking to expand its presence in the global soju market amid the rising popularity of the nation’s traditional rice liquor around the world. According to the company, OB, owned by Belgian brewing giant Anheuser-Busch InBev, has decided to acquire Jeju Soju from Shinsegae Group’s liquor unit Shinsegae L&B. OB will take over the production site, equipment and underground water usage rights associated with Jeju Soju. Details, inc

Industry Sept. 12, 2024

Cash-strapped e-commerce platforms Tmon and WeMakePrice have managed to avoid bankruptcy by commencing the corporate rehabilitation process, which will enable the two companies to restructure their debts to over 100,000 creditors under the oversight of court-appointed custodians. The Seoul Rehabilitation Court approved on Tuesday to initiate rehabilitation procedures for Tmon and WeMakePrice, which have recently been mired in controversy due to delayed payments, stemming from a liquidity crisis

Industry Sept. 10, 2024

Celltrion Group Founder and Chairman Seo Jung-jin has announced plans to expand the company's pharmaceutical production facilities either in South Korea or abroad as part of its strategy to enter the contract development and manufacturing organization sector. The biosimilar giant also aims to commercialize a total of six new drug pipelines by the end of 2029. "Expanding manufacturing facilities is crucial for securing production capacity and ensuring a sustainable future," Seo rep

Industry Sept. 9, 2024

Lotte Group Chairman Shin Dong-bin has chosen Pepero as the flagship product for a new strategic initiative in partnership with Lotte food affiliates from Korea and Japan, the nation's sixth-largest conglomerate announced Sunday. The initiative aims to elevate the chocolate stick snack into a global megabrand with annual sales of 1 trillion won ($748 million). During Shin's recent business trip to Europe, the chairman visited Lotte's global food production facilities in Belgium an

Industry Sept. 8, 2024

SK Group Chairman Chey Tae-won stressed the need for a sharp focus and prompt response to evolving AI, semiconductors and energy solutions sectors during an executives' management review meeting held on Saturday, the Korean conglomerate said Sunday. “Enhancing the competitiveness of our core businesses in AI and semiconductors while adapting to the evolving business environment is a formidable challenge, but one we must confront,” said Chey at the SK Seorin Building headquarte

Industry Sept. 8, 2024

Seoul Mayor Oh Se-hoon on Thursday delivered congratulatory remarks at The Korea Herald HIT Forum, expressing his commitment to ensuring that Seoul continues to evolve as an attractive "global business hub" for current and future investors. "Korean companies have expanded their global presence across diverse fields, including high-tech sectors like semiconductors and electric vehicles as well as K-culture, energy and finance," Oh said during the forum held under the title &qu

Industry Sept. 5, 2024