Most Popular
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[Exclusive] Democratic Party of Korea forms US election task force
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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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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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An increasing number of K-pop idols are breaking free from big agencies. Why?
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KFA Chair denies unfair hiring of national coach
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Couple welcoming quintuplets to receive over W170m in childbirth grants
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College is expensive? In S. Korea, English preschools cost much more
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[Photo News] Gathering against money laundering
Financial Services Commission Yim Jong-yong speaks at the opening ceremony for the Financial Action Task Force’s plenary and working group meetings in Busan on Wednesday. (Yonhap)
June 22, 2016
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Korea’s top four conglomerates focusing on China
[THE INVESTOR] South Korea’s top four conglomerates -- Samsung, Hyundai Motor, SK and LG -- were found to be focusing their overseas operations in China. One out of four of their offshore companies were located in China as of March this year, according to a local think tank on Wednesday.In contrast, only 2.1 percent are located in the United Kingdom, which is set to vote on June 23 on whether to stay in the European Union.Samsung affiliates, such as Samsung Electronics, Samsung C&T and Samsung S
IndustryJune 22, 2016
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Korea’s speed of innovation 70% that of China: survey
[THE INVESTOR] Korean manufacturers consider the country far behind China in terms of speed of innovation, a survey by the Korea Chamber of Commerce and Industry showed on Wednesday. In the survey on 300 manufacturing firms, local companies rated Korea’s speed of innovation as being 71 percent that of China. The respondents were asked to estimate the country’s speed of innovation in relation to China, whose speed of innovation was set at 100 kilometers per hour. The average for Korea’s industrie
June 22, 2016
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BOK governor says uncertainties will grow in second half of year
[THE INVESTOR] Bank of Korea Gov. Lee Ju-yeol said Wednesday that the Korean economy is expected to see increasing external and internal uncertainties in the second half of the year. He pointed out that the U.K.’s referendum result on Britain’s exit from the European Union could further spur volatility in the global financial market, during a meeting with economic experts held at the central bank’s headquarters in Seoul. Lee also expressed concerns that the U.S. Federal Reserve is still likely t
June 22, 2016
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Korea’s economic growth to slow down in 2016
[The INVESTOR] Korea’s economy is expected to grow at a similar rate this year on the recovery of exports in the second half. Facility investment, however, will record minus growth, according to a leading economic think tank. Korea Institute for Industrial Economics and Trade released its economic and industrial outlook for 2016 on June 22. It predicted the gross domestic product in the first half of the year at 2.9 percent and the second half at 2.3 percent, averaging the figure of 2.6 percent
June 22, 2016
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Netflix set-top box launches in Seoul
A set-top box specially designed to accommodate Netflix programs was launched Tuesday by cable and Internet service provider D’Live.Dubbed “D’Live Plus,” the new product supports up to 1,080 pixels of resolution. (D'Live)Its remote control has a central button that immediately takes users to browse Netflix. The set-top box also has a mirroring function that allows users to display their smartphone photos and videos on the TV screen.“D’Live Plus” is priced at 150,000 won ($130).By Lim Jeong-yeo
TelevisionJune 22, 2016
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Seoul exceeds spending plan to trigger growth
[THE INVESTOR] The South Korean government exceeded its fiscal spending plans during the first five months of the year to help stimulate the lackluster economy, the Finance Ministry said June 22. The government had earlier announced that it would spend approximately 60 percent of this year’s 280 trillion won (US$242 billion) budget set aside for the central government in the first half. The ministry said it has used 135.1 trillion won of the budget in the first five months of the year, surpassin
June 22, 2016
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Hyundai Mobis retains 6th place in world’s auto parts market
[THE INVESTOR] Hyundai Mobis maintained its place as the world’s sixth largest auto parts maker in 2015, industry data showed on June 22. According to the rankings by sales compiled by Automotive News, Hyundai Mobis recorded sales of US$26.262 billion to retain the sixth place for the third consecutive year. The top place was retained by Robert Bosch with US$44.825 billion. Japan’s Denso rose to the second place with US$36.03 billion, followed by Canada’s Magna International with US$32.134 billi
MobilityJune 22, 2016
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Richest under 40: Koo Gwang-mo
[BORN TO BE RICH] Among South Korea's richest aged 40 years or younger, LG chairman’s the adopted son Koo Gwang-mo, 38, of LG Group is the wealthiest. His net worth is estimated at 751.8 billion won (US$650.5 million).LG Corp. vice president Koo Gwang-mo.Koo is the great grandson of LG’s founder, the late Koo In-hoe. He was born to Heesung Group chairman Koo Bong-neung, but was adopted by his uncle Koo Bon-moo, chairman of LG. Gwang-mo is currently a vice president of LG Corp. He was promoted to
CompaniesJune 22, 2016
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N. Korea's national airline increasing flights to Beijing
North Korea's national carrier, Air Koryo, will increase the number of its flights between Pyongyang and Beijing despite stringent U.N. Security Council sanctions including a ban on the export of aviation fuel to the reclusive country, a news media report said Wednesday.According to Air Koryo's website, the North's flagship carrier is scheduled to increase flights between the two capitals to five times a week from the present four as of July 1, Washington-based Voice of America reported.VOA said
North KoreaJune 22, 2016
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S. Korea to seek cooperation with allies on N. Korea's missile
South Korea will seek close cooperation with other allies in dealing with North Korea's missile launches on Wednesday, a government source said, hinting that the matter can be referred to the U.N. Security Council. "Whether it was a success or not, the North's launches of ballistic missiles violated the U.N. Security Council resolutions," the source told Yonhap News Agency via telephone. "We will push for diplomatic countermeasures similar to ones taken before."The similar diplomatic measures ma
North KoreaJune 22, 2016