Hyundai Merchant targets 25% sales increase in 2020

Hyundai Merchant Marine Co., South Korea's biggest shipping company by sales, said Tuesday it aims for a 25 percent rise in its 2020 sales on the back of increased cargo-shipping demand.Hyundai Merchant Marine's sales came to 4.16 trillion won ($3.5) in the January-September period. Sales for the fourth quarter have yet to be released.Hyundai Merchant Marine also said it could shift to an operating profit in the third quarter this year, citing increased cargo-shipping demand and its April joinin

IndustryJan. 21, 2020

Prince Harry leaves for Canada in 'symbolic' departure: reports

LONDON (AFP) -- Britain's Prince Harry has left the UK to rejoin his wife Meghan and son Archie in Canada, British media reported, as the couple start a new life after their shock exit from the royal fold.The Duke and Duchess of Sussex are bowing out entirely from representing the British monarchy, in a crisis that has shaken the centuries-old institution.The prince boarded an evening flight to Vancouver after attending a UK-Africa investment summit in London, in what is expected to be one of hi

World NewsJan. 21, 2020

LG Electronics launches wireless earbuds in US

LG Electronics Inc., a major South Korean electronics maker, said Tuesday it has launched its premium wireless earphones in the United States to expand global sales. The LG TONE Free HBS-FL7, Bluetooth wireless earbuds, is now available in the U.S. market, according to LG. The company added it also plans to sell the product in Europe and other Asian countries this year. LG's totally wireless stereo earbuds made their debut last year in South Korea.Its wireless earphones applied tuning and digita

IndustryJan. 21, 2020

S. Korea to invest W1.2tr in R&D projects for medical instruments

South Korea said Tuesday it will invest 1.2 trillion won ($1 billion) in research and developmentn projects for medical instruments over the next six years to foster the area as one of the new growth engines for Asia's No. 4 economy.The spending will be aimed at beefing up global competitiveness of local medical instruments and provide the public with better medical services, according to the joint statement by industry, science, welfare and drug safety ministries.The country will also aim to pe

IndustryJan. 21, 2020

Mahindra says W500b required for SsangYong turnaround by 2022: sources

Indian carmaker Mahindra & Mahindra Ltd. is considering a capital injection of 500 billion won ($430 million) for its South Korean unit, SsangYong Motor Co., by 2022 to secure its turnaround, industry sources said Tuesday.In a meeting with SsangYong Motor employees on Thursday, Mahindra & Mahindra Managing Director Pawan Goenka said 500 billion won is needed to turn SsangYong Motor around in the next three years, a person familiar with the matter told Yonhap News Agency.Goenka flew into

MobilityJan. 21, 2020

S. Korean envoy to Nepal calls for continued search efforts for 4 missing in Himalayas

KATHMANDU/SEOUL -- South Korea's top envoy to Nepal has asked Nepalese authorities to continue efforts to find four South Koreans missing after an avalanche in the Himalayas, amid slow progress in search operations owing to bad weather. Monday's air and ground searches for the four people missing at the Annapurna trekking site were called off for the day as unfavorable weather conditions blocked officials from approaching the scene where the missing people are believed to be trapped. The school

Foreign AffairsJan. 21, 2020

[Newsmaker] US envoy say it's his mustache; South Koreans say otherwise

SEOUL (AP) -- The US ambassador to South Korea has some unusual explanations for the harsh criticism he's faced in his host country. His mustache, maybe? Or a Japanese ancestry that raises unpleasant reminders of Japan's former colonial domination of Korea? Many South Koreans, however, have a more straight-forward explanation for Harry Harris' struggle to win hearts and minds in Seoul, and it's got more to do with an outspoken manner that they see as undiplomatic and rude. Since arriving in Seou

Foreign AffairsJan. 21, 2020

Renault Samsung union back to table for wage negotiations

Renault Samsung Motors Corp.'s union on Tuesday suspended partial strikes to resume negotiations with the company over wages for the year of 2019. Renault Samsung workers have staged partial strikes at its sole plant in Busan, 453 kilometers south of Seoul, for higher wages in the past 19 days. It caused production losses of about 10,400 vehicles worth about 200 billion won ($173 million), according to the automaker. To avoid further losses resulting from walkouts, the company has partially shut

IndustryJan. 21, 2020

Samsung promotes 162 execs as follow-up to leadership reshuffle

Samsung Electronics Co. on Tuesday announced the promotion of executives in a follow-up to the recent reshuffle of its major business heads. Samsung said 162 executives earned promotions in the annual reshuffle, with 14 moving up to executive vice president positions.Twenty four executives got early promotions in the reshuffle, six more than in the 2018 reshuffle. The group usually announces personnel reshuffles in December, but the appointments were delayed as trials involving Samsung heir Lee

IndustryJan. 21, 2020

China says fourth person dies in Wuhan pneumonia outbreak

SHANGHAI (Reuters) -- A fourth person has died from pneumonia in the central Chinese city of Wuhan following the outbreak of a new coronavirus, health authorities said on Tuesday.The 89-year-old man developed symptoms on Jan. 13 and was admitted to hospital five days later after he experienced severe breathing difficulties, the Wuhan Municipal Health Commission said in a statement. He died on Jan. 19.It said the patient also had underlying health diseases such as hypertension, diabetes and

World NewsJan. 21, 2020

Korea's exports down 0.2% in first 20 days of January

South Korea's exports fell 0.2 percent in the first 20 days of January, marking the lowest rate of decline in a year, as outbound shipments of semiconductors rebounded, data showed Tuesday.The country's exports stood at $25.7 billion in the January 1-20 period, down $40 million from the same period last year, according to the Korea Customs Service.The rate of decline was also much less than the 2 percent fall in the December 1-20 period last year, the data showed.By product, exports of semicondu

EconomyJan. 21, 2020

US reaffirms need for inter-Korean cooperation, denuclearization to move in lockstep

WASHINGTON -- The United States reaffirmed Monday that inter-Korean cooperation should proceed "in lockstep" with progress in North Korea's denuclearization, as Seoul continued to push for individual tours to the North.Earlier, Seoul's unification ministry said it is looking at ways to hold talks with Pyongyang on allowing tours to North Korea on an individual basis. The push has gained traction after President Moon Jae-in cited it last week as a way to expand inter-Korean exchanges wi

North KoreaJan. 21, 2020

Trump's defense suggests US troop presence in S. Korea is form of foreign aid

US President Donald Trump appeared to suggest Monday that the stationing of American forces in South Korea is a form of foreign aid, rejecting the long-held view that the troop presence serves both countries' interests.Trump's lawyers made the case in the 110-page Trial Memorandum for the Senate's impeachment proceedings against the president. The trial is set to begin in earnest Tuesday, with Trump facing charges of abusing his power by asking Ukraine to investigate Democratic political rival J

Foreign AffairsJan. 21, 2020

North Korean defector in his 60s found dead

Police are investigating the death of a 62-year-old North Korean defector who was found dead last week at a cemetery in Daegu.The Daegu Suseong Police Station said Monday that the defector, from the North’s Ryanggang Province, was found by a rescue dog at around 10:20 a.m. Friday at the cemetery in Suseong, a southeastern district in the city. According to the police, the man, who came to South Korea in 2008, had been living by himself on government subsidies since 2010, when he could no l

Social AffairsJan. 20, 2020

[Graphic News] Samsung ranks No. 3 in global wireless headset shipments in 2019

　Samsung Electronics ranked third in global wireless headset shipments last year, industry data showed, though it trailed far behind its rival Apple. 　Samsung shipped 7.4 million totally wireless headsets for a 6.9 percent market share in 2019, according to data from market tracker Strategy Analytics. 　Apple was the dominant force in the TWS market with a 54.4 percent market share after shipping 58.7 million AirPods, its signature TWS headset product, in 2019. (Yonhap)

TechnologyJan. 20, 2020

South Korea should take active role in denuclearizing North: ex-minister

South Korea should take an active stance in dealing with North Korea amid stalled inter-Korean ties, such as by showing its resolve to halt joint military exercises with the US, a former unification minister said Monday. “For the past 1 1/2 years since the Singapore summit, Seoul’s stance was that inter-Korean relations need to adjust to the speed of US-North Korea dialogue. But with the deadlocked denuclearization talks, inter-Korean relations are reaching their worst state,&r

North KoreaJan. 20, 2020

KT develops 5G-powered medical service

KT Corp., South Korea's major telecommunications firm, said Monday it has developed a 5G-powered medical service with a Seoul hospital to provide better patient care. KT said it built a 5G network at the Samsung Medical Center and successfully applied its 5G technology to medical practices last week.KT and the SMC have been working together since September 2019 after signing a partnership to develop 5G-powered medical services. Through its 5G network, KT said medical staff at the SMC can now hav

IndustryJan. 20, 2020

KCC conditionally approves SK Broadband, T-broad merger

The Korea Communications Commission on Monday conditionally approved a merger between SK Telecom’s pay TV unit, SK Broadband, and T-broad, the country’s No. 2 cable TV operator. After its meeting on Monday, the KCC announced that it had approved the merger under 14 conditions and three suggestions, which will require the company to protect users’ rights and serve the public interest. The KCC will deliver the results of its review to the ICT Ministry, which is expected to issue

IndustryJan. 20, 2020

S. Korea protests Japanese FM's claim to Dokdo

The foreign ministry issued a strong protest on Monday over Japanese Foreign Minister Toshimitsu Motegi's parliamentary speech that renewed Japan's claim to South Korea's easternmost islets of Dokdo.During his speech on foreign policy, Motegi claimed that the East Sea islets are inherently Japan's territory, remarks that overshadowed budding efforts to defuse a row between Seoul and Tokyo over wartime history and trade."The government strongly protests the fact that the Japanese government,

Foreign AffairsJan. 20, 2020

CheongKwanJang collaborates with Spain’s Vicens

Red ginseng health supplement brand CheongKwanJang of Korea Ginseng Corp. said Monday it has collaborated with Spain’s renowned chocolate and nougat brand Vicens.The products, released last month, are the result of a partnership between the 120-year-old South Korean firm and Vicens -- with 250 years of tradition -- to introduce six different chocolate types featuring red ginseng. Vicens has been making chocolates and turrons (nougats) since its establishment in 1775. The latest collaborati

IndustryJan. 20, 2020