Most Popular
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Man arrested 16 years after murdering girlfriend, hiding body in cement
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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Pikki Pikki dance: Korean cheerleader dance routine takes social media by storm
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[Exclusive] Democratic Party of Korea forms US election task force
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[Herald Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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Middle East’s big AI push lures Korean tech firms
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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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NK nuclear test 'possible' around US election in Nov., says Yoon aide
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[News Focus] Ex-Moon aide slammed from both sides over remarks on leaving Koreas divided
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Korean shares down in late morning trade
Korean shares remained in negative terrain late Tuesday morning as investors sought to lock in early gains.The benchmark Korea Composite Stock Price Index lost 5.96 points, or 0.30 percent, to hit 1,989.34 as of 11:20 a.m. Institutions and foreign investors were net sellers, offloading a combined net 127 billion won ($110 million).On Monday, the KOSPI advanced 0.03 percent, further recovering from losses sparked by Britain's vote to leave the European Union two weeks ago. Last week, the index ha
July 5, 2016
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Hyundai Motor to operate self-driving taxis at research center
[THE INVESTOR] Hyundai Motor Group plans to operate self-driving taxis at its research center in Namyang, Gyeonggi Province, from later this month, a local newspaper reported on July 6. MoneyToday, citing unnamed company officials, reported that a total of five autonomous taxis, based on Hyundai’s fuel-cell sport utility vehicle Tucson ix and the Ioniq hybrid compact, will be operated. Hyundai’s Genesis sedans drive on autopilot mode at the carmaker’s Nevada research center. / Hyundai MotorThe N
MobilityJuly 5, 2016
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Big Korean pharma firms launch venture capital biz
[THE INVESTOR] A handful of Korean pharmaceutical companies are scurrying to set up venture capital firms to find new revenue sources by investing in smaller firms in need of capital. Hanmi Pharm announced on July 4 that it has founded a 10 billion won (US$ 8.7 million) investment company that will invest into biotech and pharmaceutical fields. “We will contribute to create an open innovation ecosystem by focusing on discovering new drug candidates and pharmaceutical and biotech start-ups,” said
IndustryJuly 5, 2016
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Antitrust body rejects SKT's takeover bid: sources
Korea's antitrust watchdog has effectively banned SK Telecom Co. from taking over the country's dominant cable TV operator, saying a merger would hurt normal market competition, industry and government sources said Tuesday.SKT, the top mobile carrier here, agreed to acquire a 53.9-percent stake in CJ HelloVision Co. from its parent firm CJ O Shopping, an affiliate of CJ Group, for 1 trillion won ($870 million) in November last year. CJ HelloVision has a budget phone service business as well.The
IndustryJuly 5, 2016
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S. Korea, Britain reaffirm commitment to cooperation on economy, NK issues
Korea and Britain reaffirmed their commitment to closely work together to strengthen their ties and seek policy coordination in diverse areas ranging from the economy to North Korea and human rights issues, the foreign ministry said Tuesday.The agreement was reached at a meeting between Kim Hyoung-zhin, deputy foreign minister, and British Minister of State Hugo Swire in London on Monday (local time), according to the ministry."Both sides reaffirmed their stance that they will push to minimize t
July 5, 2016
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Italian Michelin star chef wins Korean cooking contest
An Italian owner chef of a Michelin-starred restaurant won a Korean cooking contest in Milan promoting the cuisine's globalization, the government here said Tuesday.Fabrizio Ferrari, the owner of Michelin one-star restaurant Al Porticciolo 84 in Lecco, north of Milan, won the "Global Taste of Korea Contest," according to the General Consul of South Korea to Milan, the event organizer. (Yonhap)The Italian star chef topped the contest with the Korean traditional dish "godeungeo gui," or roasted ma
EntertainmentJuly 5, 2016
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Kolon to commercialize materials for foldable, flexible displays
[THE INVESTOR] Chemical firm Kolon Industries has reportedly developed colorless, transparent polyimide -- a material that can be used for flexible and transparent displays.The development of the material, the first of its kind according to the company, is hailed as a big leap forward in the display sector as it can speed up the commercialization of next-generation displays, such as those that can be rolled up or folded. Kolon’s headquarters in Gwachoen, Gyeonggi Province. Kolon“We plan to soon
IndustryJuly 5, 2016
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Auto brands step up marketing after tax breaks expire
Korean carmakers and foreign auto brands have beefed up sales marketing with discounts and promotional events after the temporary excise tax break expired at the end of June, industry officials said Tuesday. The Seoul government temporarily slashed excise taxes by 30 percent on cars to 3.5 percent from August to June to bolster the sluggish domestic demand, which pushed up auto sales by 10.9 percent in the first half from a year earlier.To deal with a potential sales drop, several auto brands de
IndustryJuly 5, 2016
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Samsung employees organize political group in US
[THE INVESTOR] A group of employees at Samsung Electronics’ US office formed a political action committee in 2015 to engage in activities such as fund-raising and providing support for politicians. Called Samsung Electronics America Inc. Political Action Committee, or Samsung America PAC, the group was formed late last year, and since then has raised around $17,000. Samsung Electronics’ Device Solutions America headquarters. SamsungSteve Merlis, a senior director of Samsung’s government relation
TechnologyJuly 5, 2016
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Former chief of Volkswagen Korea summoned over emissions scandal
A former CEO of the local branch of Volkswagen was summoned by prosecutors Tuesday over the German carmaker's alleged irregularities that came to light following last year's emissions scandal.The Seoul Central District Prosecutors' Office summoned Park Dong-hoon as a material witness to gain background information. Prosecutors said his status can change to that of a suspect, if necessary, following the investigation. (Yonhap)"I was not (involved)," Park told reporters, referring to the string of
IndustryJuly 5, 2016
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Hyundai’s domestic SUV sales top 2 million
[THE INVESTOR] The number of Hyundai Motor ’s sport utility vehicles sold in South Korea has broken the 2 million mark, industry data showed on July 5. Hyundai is the first South Korean carmaker to sell more than 2 million SUVs in the local market. According to industry data, a total of just under 2.012 million units of Hyundai SUVs have been sold here since 1991 when the carmaker introduced its first SUV -- the Galloper based on Mitsubishi Pajero. Apart from the Galloper, Hyundai has rolled ou
MobilityJuly 5, 2016