Most Popular
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[Exclusive] Democratic Party of Korea forms US election task force
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Seoul seeks to improve foreign nanny program after two abscond
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[Grace Kao] NewJeans fights Hybe for their survival
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Samsung, top banks to create W2tr green growth fund for SMEs
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NewJeans has few options after Ador rejects group's request to reinstate Min Hee-jin as CEO
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Malnutrition cases nearly triple in last 5 years
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KFA Chair denies unfair hiring of national coach
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An increasing number of K-pop idols are breaking free from big agencies. Why?
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Couple welcoming quintuplets to receive over W170m in childbirth grants
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Korean automakers pressured to diversify supply chains as US bans Chinese tech
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Air Busan opens Busan-Ulaanbaatar route
[THE INVESTOR] Air Busan began flying the Busan-Ulaanbaatar route on June 24, becoming the first Korean carrier to operate the route between the two cities. For Air Busan, this is the 17th international route. Air Busan is a budget carrier subsidiary of Kumho Asiana Group's Asiana Airlines.Air Busan operates Busan-Ulaanbaatar flights on Tuesdays at 10:35 a.m. and Fridays at 8:35 a.m. Ulaanbaatar-Busan flights will take off at 3:40 p.m. on Tuesdays and 1:40 p.m. on Fridays. By Choi He-suk (cheesu
IndustryJune 24, 2016
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Samsung releases new Gear Fit 2
Samsung Electronics Co.'s newest wearable fitness tracker went on sale in South Korea on Friday, featuring multiple functions like a "personal trainer."The Gear Fit 2 got off to a smooth start, drawing largely positive feedback from consumers and media. The sporty and stylish wrist band has an embedded GPS and improved sensors, making itself far smarter than the Gear Fit released in 2014, according to sources.It automatically detects the type of users' activities and provides them with tailored
TechnologyJune 24, 2016
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Seoul shares turn lower on Brexit uncertainties
Korean shares turned lower late Friday morning as the results of the British referendum remain murky.The benchmark Korea Composite Stock Price Index edged down 11.55 points, or 0.58 percent, to 1,975.16 as of 11:20 a.m. One of the latest polls conducted after the vote ended at 6 a.m. Friday (Korean time) suggested the "Remain" camp's victory.But early voting results indicated a tight race so investors remain cautious until the final voting outcome is available at around 3 p.m. Friday. Top carmak
June 24, 2016
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[ANALYST REPORT] KAI: Ample momentum in store for 2H
We now believe KAI is highly likely to win the bid for both of the major projects set to determine its growth potential, i.e., the aircraft maintenance, repair, and overhaul (MRO) service project in Korea and the US Air Force‘s T-X project. We also expect marked HoH improvement in its new order intake in 2H16, given: 1) the scheduled receipts of new orders by both the defense and aircraft parts divisions; and 2) likely additional exports of finished aircraft. With KAI forecast to report relative
June 24, 2016
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S. Korea welcomes U.N. condemnation of N.K. missile launches
South Korea on Friday welcomed the U.N. Security Council's adoption of a press statement condemning North Korea's ballistic missile launches earlier this week.Seoul's foreign ministry said in a statement that the Security Council's response sent a warning to Pyongyang and underscored the importance of deterring the North's "wrong behavior" through the international community's faithful execution of sanctions against the country."Our government welcomes the Security Council's swift announcement o
Diplomatic CircuitJune 24, 2016
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Korea revises down growth outlook to 2.8 percent
[THE INVESTOR] Korea has cut its annual economic growth rate outlook in 2016 to 2.8 percent from the previous 3.1 percent, the government said on June 24.During a meeting with the ruling Saenuri Party, government policymakers said growth is expected to slow in the second half of 2016. “If the second-half economic policy plan is executed as expected, this year’s growth will decrease from initial 3 percent-level to around 2.8 percent,” a government policymaker said. Finance Minister Yoo Il-ho at
June 24, 2016
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Gov't revises down growth outlook to 2.8% for 2016
The Korean government said Friday it has revised down the annual economic growth outlook by 0.3 percentage point to 2.8 percent, in the face of sluggish global economic conditions and troubles facing certain industries.During a meeting with the ruling Saenuri Party, government policymakers said growth is expected to slow in the second half of 2016. They, however, added that every effort will be made to revitalize growth so Asia's fourth largest economy can pull off 3 percent growth next year.At
June 24, 2016
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S. Korea's trade promotion agency sets up trade center in Ivory Coast
Korea's trade promotion agency said Friday that it has opened a trade center in Ivory Coast in the latest efforts to make inroads into the West Africa market.The Korea Trade-Investment Promotion Agency said the trade center opened in Abidjan, the economic capital of Ivory Coast, on Thursday and the center will also handle trade affairs in seven other West African countries, including Senegal. The opening raised the number of KOTRA's overseas trade centers to 126 in 126 countries.Hyundai Engineer
IndustryJune 24, 2016
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Ruling, opposition parties condemn N. Korea's missile launch
South Korea's ruling and opposition parties on Friday expressed concerns over Pyongyang's latest launch of missiles and called on the communist country to put its priority on improving the livelihood of its people instead of making threats against the world.On Wednesday, North Korea fired off what is believed to be two Musudan mid-range missiles from near the city of Wonsan on its eastern coast. The latest launches follow four failed launches involving the Musudan missile since April. "The safet
North KoreaJune 24, 2016
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Major builders likely to gain ground in Q2 earnings
Six major Korean construction firms are likely to see their earnings improve in the second quarter of 2016 from a year ago amid a housing boom, a report showed Friday.The builders are expected to post 675.6 billion won ($587 million) in combined operating profits for the second quarter, up 16.5 percent from a year ago, according to the report by online financial information provider Fn Guide.The six builders are Samsung Engineering Co., the plant engineering unit of South Korea's top conglomerat
IndustryJune 24, 2016
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Organizing committee to offer athletes kimchi during Rio Olympics
The organizing committee of the Rio de Janeiro Olympics has included kimchi, the traditional Korean side dish of fermented cabbage with a variety of spicy seasonings, on the menu for athletes taking part in the competition, an industry group said Thursday.The Korean Food Buyers Association of Central and South America said the organizing committee plans to offer kimchi called "Oriental salad kimchi" to athletes during the August 6-22 competition."As soon as the organizing committee asked us to s
Social AffairsJune 24, 2016
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Hyundai Rotem to recover US$66m outstanding fees
[THE INVESTOR] Hyundai Rotem will collect 76.3 billion won (US$66 million) outstanding fees from Iran, the company announced on June 24. Hyundai Motor Group’s defense and railway equipment maker said that the Iranian government has approved related plans, and the payment will be made in three installments. Hyundai Rotem had been contracted to supply 150 diesel-powered train cars to Iran in 2004. The company began shipping the vehicles in 2007, but the project was cut off due in part to economic
IndustryJune 24, 2016