Most Popular
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Who's lying? Hybe vs. Min conflict continues to intensify
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Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
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Most teen sex offenders get away with slap on wrist
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Ex-Trump official calls for S. Korea to raise defense spending to 3 or 3.5% of GDP
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Man sentenced to 1 year, 8 months for stealing from elementary school classrooms
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Thousands rally in Seoul to call for Yoon resignation
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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Same-sex couple denied insurance clearance despite landmark ruling
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Panmunjom tours for select Korean nationals may resume in October
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Young Poong says no better offer for Korea Zinc
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Hyundai Rotem wins $316m deal from Turkey
Hyundai Rotem, the train-making unit of Hyundai Motor Group, said Monday that it beat rivals in China and Europe to clinch a $316 million deal for supplying subway trains to Turkey.Under the deal signed with the Istanbul city government, Hyundai Rotem will deliver 300 trains by the end of 2021. Hyundai Rotem said it will begin supplying the trains during the first half of this year. Trains are assembled at Hyundai Rotem‘s assembly line in Korea. (Yonhap)Marking the 14th deal with Turkey for Hyun
IndustryApril 25, 2016
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Necessity mixed with concern on restructuring
A bunch of figures suggest Korea’s economy has been held back, among other worsening conditions, by its weakening manufacturing sector saddled with excess capacity and declining profitability.The rate of contribution by manufacturing industries to the country’s annual growth in gross domestic product plummeted from 55.4 percent in 2010 to 11.5 percent in 2015, according to data from the Korea Economic Research Institute. The growth rate of their production capacity was down from 7.9 percent to 1
April 25, 2016
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IPTV subscriptions on steady rise in 2016
The number of subscribers to Internet Protocol television in the first three months of 2016 reached 1.29 million as of March showing steady growth, an IPTV suppliers’ association said Monday.The March figure reflects an increase of 360,000 from December 2015, data by the Korea IPTV Broadcasting Association showed. (Yonhap)The association estimates the number to have surpassed 1.3 million this month, considering there was an average of 120,000 more subscribers each month in that period.IPTV subsc
IndustryApril 25, 2016
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Shipyard subcontractors poised for mass layoffs
Subcontractors of South Korea’s three major shipbuilders may carry out massive job cuts this year on sluggish business conditions, industry sources said Monday.The shipbuilders -- Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries -- suffered a combined 7.7 trillion won ($6.7 billion) in losses last year, marking the first time that all three posted losses. Hyundai Heavy Industries’ shipyard in Ulsan, South Korea (Yonhap)With few new offshore orders
IndustryApril 25, 2016
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Pyongyang‘s offer to set preconditions for halting nuke tests absurd: Seoul
South Korea called on North Korea Monday to stop its "preposterous" claim that it is ready to halt its nuclear tests if Seoul and Washington suspend their annual joint military drills.North Korean Foreign Minister Ri Su-yong made the remarks in a recent interview with The Associated Press, also claiming that international sanctions against his country won't work.The North has long denounced the Seoul-Washington drills as a rehearsal for a northward invasion, a charge denied by the two allies.The
North KoreaApril 25, 2016
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Seoul calls UN condemnation ‘grave warning’ against Pyongyang provocation
South Korea on Monday called the condemnation by the U.N. Security Council of North Korea's test of a submarine-launched ballistic missile a "grave warning" against the communist state's unrelenting provocations. The UNSC issued a press statement on Sunday, denouncing Pyongyang for the test on Saturday. It stressed that the launch was yet another "serious" violation of UNSC resolutions banning any launch using ballistic missile technology."The members of the UNSC, including China and Russia, pro
North KoreaApril 25, 2016
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South Korean panel-makers lost market share
South Korean panel-makers lost ground to Chinese and Taiwanese rivals in the global large-sized panel market in the first quarter from a year earlier, data showed Monday.South Korean firms had a 38.3 percent market share for panels sized above 9 inches in the January-March period, falling from 43.1 percent a year earlier, according to data from industry tracker IHS showed. LG Display’s Paju plant (Yonhap)In particular, Samsung Display slipped to fifth place for the first time with a 14.5 percen
IndustryApril 25, 2016
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Kim Jong-un elected delegate to party congress representing three provinces
North Korean leader Kim Jong-un has been unanimously elected as a delegate representing three provinces for the upcoming party congress, the country's state-run media reported Monday.The reclusive regime's ruling Workers' Party of Korea is set to convene its first congress in more than 30 years. The congress expected to be held in early May is North Korea's highest-level political guidance body.Kim's latest election as a delegate to the party congress came at the party conferences of Ryanggang,
North KoreaApril 25, 2016
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Former opposition leader maintains lead in poll
A former opposition leader has kept a steady lead in a poll for 15 straight weeks over his potential rivals for South Korea’s presidential race next year, a new poll showed Monday.Moon Jae-in, a former leader of the main opposition Minjoo Party received 27 percent, up 2.3 percentage points from a week earlier, according to the poll released by local pollster Realmeter.Moon's party received a big boost from the parliamentary elections earlier this month, in which it secured 123 out of 300 seats u
PoliticsApril 25, 2016
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Long-term joblessness jumps in South Korea
The number of South Koreans who have been jobless for six months or more reached 112,000 in the first quarter of this year.The figure is a 57.1 percent increase from the same period a year earlier, and is higher than the 47 percent tallied in the fourth quarter of 2014, according to Statistics Korea data. Job hunters search for openings at a job fair in Busan. (Yonhap)The agency attributed the rise to seasonal factors, but economists say it is due to the prolonged economic slump.Consequently, c
April 25, 2016
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[Market Now] KT&G sees valuation target increase
A number of securities companies have increased their expectations for KT&G following the earnings surprise by the KOSPI-listed tobacco-maker in the first quarter.Eugene Investment & Securities said the company is expected to continue its momentum in the second half of this year, increasing its share price target from 130,000 won ($113) to 150,000 won. It recommended buy.Samsung Securities also increased the target valuation to 145,000 won a share from 135,000 won as its first quarter operating
April 25, 2016
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[Photo News] Samsung's premium fridge appeals to consumers
SUPER PREMIUM FRIDGE APPEALS TO KOREAN CONSUMERS -- Samsung Electronics’ high-end refrigerator Family Hub on Wednesday surpassed the 1,000-sales mark in just 20 days since its release in the Korean market. The 837-liter fridge sports a 21.5-inch (54.6 centimeters) display on the right door and three built-in cameras, which allow users to monitor items stored inside. (Samsung Electronics)
TechnologyApril 25, 2016
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[Market Now] Corporate bond issues fall in March
Korea’s corporate bond issues fell more than 40 percent to 1.6 trillion won ($1.4 billion) last month due to worsening corporate sentiment, according to the Financial Supervisory Service on Monday.The FSS data show that fixed-income securities issued by corporations amounted to some 7.9 trillion won in the first quarter of this year ending March 31, down more than 34 percent from a year ago. Financial Supervisory Service headquarters in Seoul (Yonhap)The fall was attributable to a decline in th
April 25, 2016
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Seoul shares open lower on steel, shipbuilder losses
South Korean share prices opened lower Monday on losses by steelmakers and shipbuilders.The benchmark Korea Composite Stock Price Index inched down 0.07 percent, or 1.48 points, to 2,014.01 in the first 15 minutes of trading. Traders monitor share prices at the Korea Exchange. (Yonhap)Investors sold shares in steelmakers and shipbuilders such as POSCO and Hyundai Heavy Industries after seeing major firms post sluggish earnings in the first quarter. Construction shares, on the other hand, rallie
April 25, 2016
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[Photo News] LG robot vacuum cleaner crosses 400,000 sales mark
LG ROBOT VACUUM CLEANER GAINS SALES TRACTION-- LG Electronics said Monday that its robot vacuum cleaner Roboking has crossed the 400,000 mark since the first model of the autonomous vacuum cleaner was released in Korea in 2003. Roboking, equipped with three cameras and 51 sensors for object detection and voice recognition, can be controlled by a smartphone. (LGE)
TechnologyApril 25, 2016
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[Market Now] Hanjin Shipping tanks; Korean Air inches up
Shares of Hanjin Group’s key companies moved in opposite directions Monday, as investors gauged the expected impact of its shipping affiliate’s pursuit of a creditor-led rehabilitation. Hanjin Shipping tanked on the main Seoul bourse, with its stocks trading at 1,845 won per share as of 10:05 a.m., 29.56 percent lower than the previous close. Hanjin KAL, the group’s holdings firm, soared 12.37 percent to 21,350 won, while Korean Air Lines climbed 2.96 percent to 31,300 won. Hanjin Shipping, the
April 25, 2016
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Rio Olympics 100 days away with Korea eyeing top-10 finish
The Summer Olympic Games will take place in South America for the first time this year, as Rio de Janeiro in Brazil will host the 31st edition of the quadrennial competition.The countdown to the Aug. 5-21 Rio Games will reach 100 days Wednesday.The Olympic organizers expect to host 10,500 athletes from 206 countries. Over 17 days, they will take part in 42 sports, including two new additions, golf and rugby.Rio says 32 competition venues will be spread across four regions of the host city: Deodo
Olympic GamesApril 25, 2016
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Kumho Asiana to hold free concert Wednesday
Kumho Asiana Group will hold a free evening concert featuring two female jazz musicians, the group said Monday.The event titled “Spring Lobby Concert” will be held at 6:15 p.m. Wednesday in the lobby of the group’s main office in Gwanghwamun, central Seoul. The group, in collaboration with the Ministry of Culture, has been holding the event every last Wednesday of the month. Kumho Asiana‘s Lobby Concert held in June, 2015. (Kumho Asiana)The concert this week will feature two distinguished jazz m
IndustryApril 25, 2016
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Nat'l training center chief calls for public support for Olympic athletes
As the 2016 Summer Games in Rio de Janeiro approaches, the head of the country's top training ground called for more public support for Olympic athletes.Choi Jong-sam, who oversees the National Training Center in Seoul, told Yonhap News Agency last week that the athletes gearing up for the Aug. 5-21 event will feed off the energy of enthusiastic fans."There's nothing better than the people's support and backing to boost morale for our athletes," Choi said. "If the country can rally around these
Olympic GamesApril 25, 2016
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Shipyard subcontractors may massively cut jobs
Subcontractors of South Korea's major shipbuilders may massively cut jobs this year as they have become a white elephant for shipyards with sputtering offshore business, industry sources said Monday.The shipbuilders -- Daewoo Shipbuilding & Marine Engineering Co., Hyundai Heavy Industries Co. and Samsung Heavy Industries Co. -- suffered an estimated 7 trillion won ($6.09 billion) in operating losses from their offshore facility business last year alone due to increased costs resulting from delay
IndustryApril 25, 2016