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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[DECODED] Naver, the new king of journalism
[THE INVESTOR] In the years since its foundation, Naver has become far more than a search engine. It has grown into a giant that dominates Korea’s online services. Naver portal’s news service -- which displays news articles from most online and traditional media outlets in one place -- has become the main source of news for many.As Naver’s clout grew, so did its influence over local news outlets. Naver NewsstandSince March, Naver and Daum introduced the Committee for Evaluation of News Partnersh
IndustryJune 29, 2016
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CNBlue singer Jung grilled over allegation of insider trading
Prosecutors on Tuesday summoned Jung Yong-hwa, the leader of the Korean boy band CNBlue, alleged to be involved in insider trading.He is suspected of having earned some 200 million won ($170,000) last year in illegal use of information on his entertainment agency’s plan for a contract with another celebrity.Jung reportedly bought 21,000 shares of the agency, to which he belongs, before July last year and sold the stocks after the announcement of the contract.He faces charges of violating the law
PeopleJune 29, 2016
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Korean foreign minister calls for closer economic ties with Latin America
South Korea's foreign minister on Wednesday called for closer economic cooperation with Latin American countries, saying distance is no longer an issue in the modern era.Yun Byung-se made the remarks during the Korea-Latin America Partnership forum which is expected to bring together more than a 1,000 government officials, businessmen and students from both sides over the next three days."Central and South America form an important pillar in our promotion of connectivity through global networkin
June 29, 2016
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Mother of dead toddler charged for negligence
The mother of a 3-year-old toddler who died from being thrown against a wall was booked for violation of children’s welfare law on Wednesday. Gangwon Province Chuncheon Police said she is accused of conniving in the cohabiting man’s abuse against her son. Jeong (Yonhap)The 23-year-old mother surnamed Noh came to live with the 33-year-old surnamed Jeong on May 17, after meeting him over a chatting application. While Noh worked at night, Jeong stayed at home and looked after the child. He was tak
Social AffairsJune 29, 2016
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[Newsmaker] Korea’s vice president of AIIB taking leave
Hong Kyttack, the Korean vice president of the Asian Infrastructure Investment Bank since February, has taken a six-month leave of absence from the Beijing-based institution amid a scandal back home surrounding his previous stint at Korea Development Bank. “Hong cited personal reasons for the leave,” Seoul’s Finance Ministry official said, confirming Hong’s absence at AIIB since last week. The Korean executive was absent at the regional bank’s maiden general meeting in Beijing on June 25, where
June 29, 2016
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LG tops US$2,000-plus premium TV sales in Q1: IHS
[THE INVESTOR] LG Electronics topped high-end TV sales in the first quarter, with its global market share exceeding a record 39.4 percent. According to the market research firm IHS, the Korean tech giant logged US$273.9 million in US$2,000-plus TV sales in the January-March period. The ratio of operating profit to net sales also soared to 10 percent, which compares to an industry average of 5 percent. Industry watchers say the current sales momentum is expected to continue in the second quarter.
TechnologyJune 29, 2016
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Samsung develops key technology for compact 5G equipment and devices
[THE INVESTOR] Tech giant Samsung Electronics said June 29 that it has developed a small-sized antenna and a power amplifier that will accelerate the research and development and commercialization of 5G network devices.The new network technologies can be applied to both 5G base stations and end-user devices which utilize 28 gigahertz millimeter wave (mmWave) spectrum. The mmWave frequencies are expected to be one of the primary enablers of next-generation networks, according to Samsung.“This ach
TechnologyJune 29, 2016
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Cambodia vows to join int'l community in pressuring N. Korea: defense ministry
Cambodian Prime Minister Hun Sen has vowed to join South Korea and the international community in pressing North Korea to cease its military provocations, Seoul's defense ministry said Wednesday.The announcement followed a meeting between the South Korean vice defense minister and the Cambodian leader."Prime Minister Hun Sen confirmed again the Cambodian government's proactive support for the direction of (the South Korean) government's policies in regard to North Korea's nuclear and missile thr
North KoreaJune 29, 2016
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Seoul stocks up for 3rd day on post-Brexit measures
Korean shares advanced for a third straight session on Wednesday as investors scooped up oversold stocks following firm pledges by authorities to underpin the markets reeling from the post-Brexit turmoil. The benchmark Korea Composite Stock Price Index rose 20.14 points, or 1.04 percent, to 1,956.36. Some 446.7 million shares worth 4.76 trillion won ($4.1 billion) traded hands on the main bourse, with 696 stocks advancing against 140 declining.Investors had welcomed policy actions promised by ce
June 29, 2016
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Uber CEO declines again to stand trial in Seoul
[THE INVESTOR] Uber’s cofounder and CEO Travis Kalanick has declined again to stand trial in Seoul for the company‘s illegal taxi-hailing service that was suspended here in 2014. At a planned hearing held on June 29, his lawyer is expected to attend instead of him. Uber CEO Travis KalanickEstablished in 2009, Uber entered the Korean market in 2013 but was forced to stop its service, except its luxury limousine service, due to fierce resistance from taxi drivers and the local authorities. In Dec
IndustryJune 29, 2016
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Korean markets regain calm amid global liquidity support
Seoul stocks ended higher Wednesday as foreign investors returned to their buying mode with concerns over Brexit easing amid expansionary measures worldwide.The benchmark KOSPI and the Korean currency gained along with the British pound after days of volatility since the U.K.’s vote to leave the European Union, as the market worldwide sees Brexit more as a political crisis than a financial crisis. (Yonhap)The benchmark equity index closed at 1956.36 up 1.04 percent on Wednesday, with the won-dol
June 29, 2016
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Shinsegae’s Starfield Hanam to introduce exclusive mall experience to Koreans
SARASOTA, Florida -- At a glance, the Mall at University Town Center, the largest shopping mall in Sarasota, Florida, embodies the typical features of a traditional U.S. shopping mall. Stepping inside, shoppers are greeted with a spacious layout, with rows of shops. The Mall at University Town Center in Sarasota, Florida (Shinsegae Group)Taking a closer look, however, reveals several unique design elements. A 20-meter ceiling and a continuum of glass sunroofs naturally light up the building, cre
IndustryJune 29, 2016
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CJ jumps into McDonald‘s Korea bid
South Korean food and entertainment giant CJ Group said Wednesday it has submitted a letter of intent last week to buy McDonald’s Korean unit, without providing details.In a regulatory filing, the conglomerate said it has not decided yet on which affiliate would be dealing with the bid. But insiders say that the group’s food services unit CJ Foodville is likely to take the charge, as the group expects to secure a “stable source of income” for its affiliate if it buys the local unit of the U.S. f
IndustryJune 29, 2016
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Korean pharma exports hit 5-year high
[THE INVESTOR] Exports by Korean pharmaceutical companies grew by 22 percent in 2015 from 2014, the highest on-year increase in five years. The export of pharma products in 2015 logged US$ 2.94 billion, as against the previous year’s US$ 2.41 billion, according to the data by the Ministry of Food and Drug Safety released on June 29. Medicine exports have increased at an annual rate of 14 percent since 2011 when it posted US$ 1.77 billion. Broken down by countries, South Korea exported the most m
IndustryJune 29, 2016
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Movie shows Big Bang in natural state
In a scene in “Big Bang Made,” G-Dragon sits in his dressing room barefaced and in his underwear, while Seungri ambushes the shower to take candid shots of T.O.P, who proceeds to spew expletives at his bandmate.The documentary-style movie, a project that celebrates the wildly popular K-pop boy band’s 10-year anniversary, follows the group’s five members -- G-Dragon, Seungri, T.O.P, Taeyang and Daesung -- as they perform in 32 cities in 13 countries as part of the group’s 2015 world tour. It is a
FilmJune 29, 2016
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KOSPO expands in overseas market
Korea Southern Power, one of Korea’s public energy companies, is gradually breaking into the overseas market with its innovative technology and know-how.Late last month, KOSPO successfully made the first trial ignition in the Kelar gas power plant in Chile, where construction is still underway. The trial ignition, the first step after installing a gas turbine, is considered crucial as it indicates how a plant is well-connected. Korea gas power plant in Chile (KOSPO)Since 2013, KOSPO has been b
IndustryJune 29, 2016