Most Popular
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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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College is expensive? In S. Korea, English preschools cost much more
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[Hello India] Hyundai Motor inches closer to IPO in India
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[Exclusive] Texas development exec shuts down layoff rumors at Samsung chip plant
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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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Panel decision put prosecution in dilemma over Dior bag case
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'Gyeongseong Creature Season 2': faster and ready to confront past
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2025 Trend Forecast: Small details, new happiness trend amid sluggish economy
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Korea to face another massive shortfall in tax revenue
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Cheil Worldwide ends merger talks with Publicis
[THE INVESTOR] Cheil Worldwide, an advertising unit of Samsung Group, said on June 13 that talks to sell a controlling stake to French ad giant Publicis Groupe have failed. In a regulatory filing, the nation’s No. 1 ad agency said it was not in talks with any other firm.“Talks between main stakeholders and the global advertising agency ended without a specific conclusion,” the company said. Over the past week, media reports have speculated that Cheil was discussing stake sales with other compani
June 14, 2016
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Singer Dee Dee Bridgewater among 2017 NEA Jazz Masters
NEW YORK (AP) -- Singer Dee Dee Bridgewater says she’s proud to be among the few women to be awarded the nation’s highest jazz honor. The National Endowment for the Arts announced Monday night during a DC JazzFest concert at the Kennedy Center in Washington that Bridgewater and four others were being recognized for their lifetime achievements as the 2017 NEA Jazz Masters. The other honorees include the British-born bassist and composer Dave Holland; pianist Dick Hyman, the soundtrack composer-ar
PerformanceJune 14, 2016
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POSCO retains most competitive steelmaker title
Korea’s biggest steelmaker POSCO retained its title as the world’s most competitive steelmaker for the seventh consecutive year since 2010, the company announced on Tuesday.Evaluating 37 steelmakers from around the world in 23 different categories, global steel information service provider World Steel Dynamics awarded POSCO the highest score of 8.02 points out of 10. POSCO CEO Kwon Oh-joon (Yonhap)Despite the setbacks POSCO saw this year with the sluggish economy and reinforcement of import rest
IndustryJune 14, 2016
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Korea to help Vietnam remove land mines, duds
South Korea agreed with Vietnam on Tuesday to push ahead with a joint project to remove land mines and leftover unexploded ordnance at the sites of hard fought battles in the Southeast Asian country, home to massive minefields that are a legacy of the Vietnam War.The Hanoi office of the Korea International Cooperation Agency, South Korea's state international aid agency, signed a memorandum on the agreement with the Vietnamese Defense Ministry.The project, which is scheduled to begin in the seco
Foreign AffairsJune 14, 2016
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Korea, Azerbaijan agree to expand economic cooperation
South Korea and Azerbaijan agreed on Tuesday to expand bilateral economic cooperation in the infrastructure and industrial plant sectors, the trade ministry here said.The two sides held the first round of economic talks in Seoul to discuss ways to bolster trade and investment and help more South Korean firms participate in infrastructure projects in the Central Asian country, according to the Ministry of Trade, Industry and Infrastructure.Azerbaijan, located along the Caspian Sea, is known for i
June 14, 2016
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[LOTTE CRISIS] Probe questions Lotte’s $10b real estate empire
[THE INVESTOR] The expanding probe into alleged irregularities at Lotte Group is leading investigators to the multibillion-dollar real estate empire under the control of its founding family, and also implicating Lotte companies. Lotte Group founder Shin Kyuk-ho has made a name for himself as one who has the Midas touch when it comes to real estate transactions, managing to turn profits with most -- if not all -- transactions. Investigators enter Lotte Group premises on June 10. The InvestorHowev
MobilityJune 14, 2016
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[LOTTE CRISIS] Lotte probe team on trail of retired Air Force general
[THE INVESTOR] The probe into Lotte Group is set to engulf the civil and military services as the investigators close in on a retired Air Force general on suspicion of bribery. According to reports, the investigators have uncovered a money trail leading from Lotte Group to a retired Air Force lieutenant general who served as the deputy chief of staff.The Lotte World Tower in southern Seoul. The InvestorLotte Group is suspected of having handed 1.2 billion won ($1 million) to a construction firm
MobilityJune 14, 2016
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Police arrest S. Korean teenager suspected of hacking thousands of websites
Police said Tuesday they have arrested a South Korean high school student, who follows the international hacktivist group Anonymous, on charges of hacking some thousands of domestic and foreign websites since last year.The 16-year-old, whose identity was withheld, is suspected of defacing a total of 3,847 websites from 87 countries between April 2015 and April of this year, according to the Seoul Metropolitan Police Agency. The suspect allegedly put the message "Website got hacked" on the first
Social AffairsJune 14, 2016
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Park calls for national unity on N.K. denuclearization, unification
President Park Geun-hye on Tuesday called for national unity, which she cited as a prerequisite for achieving the denuclearization of the Korean Peninsula and laying the groundwork for reunification.In a video message to a session of the National Unification Advisory Council, Park also pledged to establish a "new order" on the peninsula by severing the vicious cycle of North Korean provocations followed by rewards."Following its fourth nuclear test and missile launch early this year, North Korea
North KoreaJune 14, 2016
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Global EV market to grow 60% this year: report
The global electric vehicle market is predicted to grow around 60 percent this year and next year amid global efforts to boost the green car industry, according to market data Tuesday. According to Japanese market research firm B3, the volume of the global electric car battery market is expected to grow 66 percent this year to 16,000 kilowatt-hours from the previous year. This is a 23 times increase over the past seven years, compared to 1,140 kilowatt-hours in 2010. The figure is again predicte
MobilityJune 14, 2016
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The Investor launches online business news service
[THE INVESTOR] English online business news service The Investor (www.theinvestor.co.kr) kicked off on June 14 with the aim of providing global investors with timely, accurate and influential information on Korea’s dynamic business landscape.Korean media and lifestyle company Herald Corp. unveiled The Investor at a launching event held at Four Seasons Hotel Seoul. More than 130 senior officials from major Korean companies and banks, including Samsung Group, Hyundai Motor Group, SK Group, LG Cor
June 14, 2016
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[LOTTE CRISIS] Lotte accused of using real estate to create slush funds
[THE INVESTOR] Prosecutors are investigating allegations that Lotte Group chairman Shin Kyuk-ho, 94, used real estate transactions to accumulate slush funds. The authorities say that Shin purchased cheap real estate and sold them off to other affiliates at a much higher price. They are searching for evidence linking the proceeds from such sales to corporate slush funds. According to the industry, Shin resold land that he had granted to a Lotte scholarship foundation for 103 billion won ($87 mill
MobilityJune 14, 2016
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LG to nurture white hat hackers
[THE INVESTOR] Tech behemoth LG Electronics has rolled up its sleeves to nurture “white hat hackers,” or computer security experts. The leading electronics firm said it signed a memorandum of understanding with the Korea Information Technology Research Institute to foster security experts, on Monday at Best of Best education center, an educational institute for information technology security, in Gangnam. LG Electronics’ Min Kyung-oh (left) and Yoo Joon-sang, the president of the Korea Informati
TechnologyJune 14, 2016
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Samsung unit says it ends talks over stake sale
Cheil Worldwide Inc., an advertising unit of Samsung Group, said Tuesday that its negotiations to sell a controlling stake to Publicis Groupe SA, a French advertising company, have ruptured.The company, part of the country’s largest family-controlled conglomerate, said there are currently no talks under way with any other firm."Talks between main stakeholders and the global advertising agency ended without a specific conclusion," the company stated in a regulatory filing.Earlier, media reports c
June 14, 2016
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Microsoft shifts to social with huge LinkedIn deal
WASHINGTON (AFP) -- Microsoft on Monday shifted its focus to social networking with a massive $26.2 billion deal for professional social network LinkedIn.With its biggest-ever acquisition and one of the largest in the tech sector, Microsoft is adding tools to connect with business as it moves further away from its roots as a pure software firm.The acquisition aims to position the former tech sector as a Facebook-like entity oriented to business, with an array of services centered around cloud co
World BusinessJune 14, 2016
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Samsung seeks to attract global investments
[THE INVESTOR] The fourth week of June will probably be one of the busiest weeks this year for tech giant Samsung Electronics as it is slated to hold, as well as participate in, a series of meetings and events to entice global investors.The Korean tech giant will be holding a global strategic meeting with the top executives of its global offices from June 21 to 22 at the firm’s head office in Suwon. Lee Jae-yong, vice chairman of Samsung Electronics. Around 400 to 500 chiefs and executives of Sa
TechnologyJune 14, 2016