Most Popular
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Man arrested 16 years after murdering girlfriend, hiding body in cement
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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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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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Samsung, top banks to create W2tr green growth fund for SMEs
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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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What will Yoon, Han talk about at dinner?
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Samsung Display to replace another LCD plant with OLED operations
[THE INVESTOR] Samsung Display has decided to replace one of its liquid-crystal display plants with organic light-emitting diode panel-making production lines in a move highlighting the firm's resolve to focus on the latter. This is the sixth such LCD plant that Samsung has shut down or replaced with OLED operations. Industry sources said on June 30 that the display-making unit of Samsung Electronics will stop the operation of its LCD production line in Asan, South Chungcheong Province, by the
TechnologyJune 30, 2016
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Google Maps told to censor defense facilities for full services in Korea
[THE INVESTOR] Korea’s Defense Minister Han Min-koo said Google Maps will be allowed to offer full services in the nation only if it censors core security facilities on its digital map.Earlier this month, the US Internet giant requested permission from the Ministry of Land, Infrastructure and Transport to get access to South Korea’s geographical data in a bid to make its flagship online maps’ services, such as the zoomed-in view of the satellite images, fully available in Korea.It was Google’s l
TechnologyJune 30, 2016
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Overseas construction contracts fall 40%, outlook remains dark
[THE INVESTOR] South Korean construction firms’ overseas contracts won in the first half of the year plunged 40 percent from a year earlier, industry data showed on June 30.According to the International Contractors Association of Korea, the value of overseas contracts awarded to local builders during the first half of the year came in at US$15.2 billion. By region, Middle Eastern contracts dropped 32 percent to come in at about US$4.7 billion, while the figure for Asia was US$6.9 billion, down
IndustryJune 30, 2016
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Air Force set to launch cyber security center
Korea's Air Force said Thursday it will establish a cyber security center this week to take charge of combating hacking attacks and preventing leaks of military secrets.The Cyber Protection Center set to open on Friday will bring together the Air Force's cyber security forces to operate an advanced monitoring system around the clock, according to the Air Force.Its main duties will include blocking out hacking attacks and safeguarding classified military information as well as research and develo
Social AffairsJune 30, 2016
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Seoul shares trim earlier gains in late morning trade
Korean stocks trimmed earlier gains late Thursday morning in the face of lingering uncertainties surrounding concerted global efforts to underpin markets reeling from the post-Brexit rout. The benchmark Korea Composite Stock Price Index traded 7.01 points, or 0.36 percent, higher at 1,963.37 as of 11:20 a.m. after hitting an intraday high of 1971.54. (Yonhap)The local stock market rebounded this week from Friday's 3.09 percent loss following Britain's vote to quit the European Union. Trillions
June 30, 2016
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Park visits eco-friendly town to promote policies to tackle climate change, bolster energy industries
President Park Geun-hye on Thursday visited an eco-friendly energy town in Hongcheon, Gangwon Province, in her latest on-site campaign to promote her policy drive to tackle climate change and bolster new energy industries.Park met with residents and key officials at the nation's first town -- some 102 kilometers east of Seoul -- that meets its energy demand through the processing of natural and renewable energy resources such as biomass, solar energy and hydropower.The president urged them to re
PoliticsJune 30, 2016
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U.S.-led regional maritime warfare exercise RIMPAC kicks off in Hawaii
The United States-led biennial maritime warfare exercise Rim of the Pacific began its five-week run off Hawaii on Thursday, bringing together 27 countries around the Pacific Ocean to increase their interoperability at sea.This year's RIMPAC, the 25th time it has been held, is the largest ever in scale since the regional exercise was first held in 1971, according to officials here. Participating countries include South Korea, China, Japan and Singapore as well as European nations like Denmark, F
WorldJune 30, 2016
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PyeongChang Olympic organizers launch volunteer recruitment program
Organizers of the 2018 PyeongChang Winter Games on Thursday announced the start of their volunteer recruit campaign, hoping to bring on more than 22,000 people from around the world to serve as "the face of the Olympics."The PyeongChang Organizing Committee for the 2018 Olympic and Paralympic Winter Games said it will receive applications online through the end of September. Candidates must be at least 18 years old at the opening of the PyeongChang Olympics on Feb. 9, 2018, and organizations wit
SportsJune 30, 2016
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U.S.-led regional maritime warfare exercise RIMPAC kicks off in Hawaii
The United States-led biennial maritime warfare exercise Rim of the Pacific began its five-week run off Hawaii on Thursday, bringing together 27 countries around the Pacific Ocean to increase their interoperability at sea.This year's RIMPAC, the 25th time it has been held, is the largest ever in scale since the regional exercise was first held in 1971, according to officials here. Participating countries include South Korea, China, Japan and Singapore as well as European nations like Denmark, Fr
DefenseJune 30, 2016
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LG Uplus banned from new bids on bribery scandal
[THE INVESTOR] LG Uplus, the nation’s No. 3 telecom carrier, has been suspended from bidding for government orders for the next three months.According to the Office of Supply on June 30, the punitive measure took effect on June 28 following the company’s recent defeat in a legal dispute with the Ministry of National Defense. In 2012, a military officer was sentenced to a prison term after the Defense Ministry found him guilty of taking bribes from LG Uplus in return for business favors. The mini
TechnologyJune 30, 2016
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JB Asset Management invests W46.5b in Hawaii hotel project
[THE INVESTOR] JB Asset Management said on June 30 that it invested 46.5 billion won (US$40 million) in a project involving the renovation of the Pacific Beach Hotel in Hawaii. Located on Waikiki beach in Honolulu, the hotel features 839 rooms with nearly 90 percent of occupancy rate over the past three years.JB Asset Management expects to gain an annual return of 7 percent from the 5-year investment. The South Korean management firm raised capital by forming a real estate fund in which a handfu
June 30, 2016
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KT Music wins award for Asia’s best mobile music app
[THE INVESTOR] Network operator KT said June 30 that mobile on-demand music app genie, operated by its subsidiary KT Music, received an award at the Mobile World Congress in Shanghai, an annual mobile trade show.GSMA, the organizer of the mobile trade show, evaluated mobile music apps in Asia, and KT Music’s app received top scores in a range of categories including user experience, quality of content, and technology advancement. KT Music’s virtual reality music streaming platform genie VR. KT M
TechnologyJune 30, 2016