Most Popular
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Thousands rally in Seoul to call for Yoon's resignation
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Suicide attempts spike among youth in Korea
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Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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Delta Air Lines to launch new Incheon-Salt Lake City route in June next year
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Korean American documentary ‘Free Chol Soo Lee' wins Emmy
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Korea, China, Japan vow to address yellow dust and climate change
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4 in 10 illegal aliens entered S. Korea without visas last year: data
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Netmarble picks lead underwriters for IPO
Netmarble Games, South Korea’s second-biggest game developer, has selected JP Morgan and NH Investment & Securities to lead an initial public offering, according to people familiar with the matter Wednesday. Accordingly, other two investment banks that Netmarble hired for the listing -- Korea Investment & Securities and Citigroup Global Markets Korea Securities – will take junior underwriting roles. Netmarble plans to float its shares at the end of 2016 or early next year with a market cap of up
TechnologyMarch 23, 2016
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Mahindra & Mahindra aims to double Ssangyong sales by 2021
Ssangyong Motor owner Mahindra & Mahindra said Ssangyong would invest 1 trillion won ($862 million) over the next five years in aims to double its sales.In 2015, Ssangyong sold 145,000 cars, mainly thanks to the success of its latest Tivoli SUV that was released in January that year.Pawan Goenka, an executive director at Mahindra, said by 2021, the Indian conglomerate hopes to increase the figure to 300,000 units. Mahindra & Mahindra executive director Pawan Goenka. (Mahindra & Mahindra)“We pla
MobilityMarch 23, 2016
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Shinsegae to open first Starfield complex in Sept.
Shinsegae Group announced Wednesday that a shopping complex -- the first to open under its new Starfield brand -- will open in September in Hanam, Gyeonggi Province.Named personally by Shinsegae Group vice chairman Chung Yong-jin, Starfield represents Shinsegae’s vision for creating a “shopping theme park“ that offers both shopping and other forms entertainment to visitors. Plans for Starfield First Hanam (Shinsegae)“Customers no longer focus only on buying what they need,” vice chairman Chung
IndustryMarch 23, 2016
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Hanwha scion meets young Asian leaders at Boao Forum
Kim Dong-won, the second son of Hanwha Group chairman Kim Seung-youn, shared his views on communications and technology with Asian young leaders at the so-called Asian version of Davos Forum in China this week.Group officials said junior Kim, currently head of Fintech and Innovation Center at Hanwha Life Insurance, discussed the theme of “redefining distance” with other panelists invited to the Young Leaders Roundtable during the Boao Forum for Asia on Tuesday. Hanwha Life Insurance executive Ki
IndustryMarch 23, 2016
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Gov't rules out spread of Zika virus from first Korean patient
The possibility of a Zika virus transmission in South Korea is very slim, despite the first confirmed case of a South Korean patient infected with the mosquito-borne virus, the health authorities said Wednesday.The patient, a 43-year-old Korean man, had a mosquito bite during his business trip to Brazil between mid-February and early March and was confirmed to be infected with the virus after returning home on March 11."The patient hasn't donated blood and hasn't been bitten by a mosquito since
Social AffairsMarch 23, 2016
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[Market Now] SK Telecom’s Iriver lowers price value of convertible bonds
SK Telecom’s Iriver, a KOSDAQ-listed audio device-maker, has lowered the value of bonds convertible to equities from 5,162 won to 4,422 won per share, it said in a regulatory filing Wednesday.The company said that this was due to a decline in its share price, which ended at 4,300 won on Wednesday, down more than 2 percent. It shares reached a 52 week high of 9,980 won, and low of 3,605 won.Holders of Iriver bonds worth an aggregate of 5 billion won ($4.3 million) could convert them to 1,130,780
March 23, 2016
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N. Korean economy is getting better: Rodong Sinmun
North Korea's economy is improving despite stiff sanctions imposed by the international community, the country's state-run daily said Wednesday.According to the Rodong Sinmun, an organ of the ruling Workers’ Party of Korea, the isolationist country's national economy has been reinvigorated "as if it were a living thing which received the blood of vitality."In an article titled "Self-supporting power of Korea," the newspaper claimed that all the people are making strenuous efforts to build an eco
North KoreaMarch 23, 2016
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Korea demands correction of Japanese history textbooks
South Korea has demanded that Japan correct its updated history textbooks to clearly state that Korean women were forced into sexual slavery for Japanese troops during World War II, a Seoul official said Wednesday.Last week, Tokyo approved a set of updated high school textbooks that claimed the women were "mobilized" or "sent" to work at front-line brothels during the war. Before the revisions, the textbooks said the victims were "taken" or "dragged" away.On Tuesday, the two sides held working-l
Social AffairsMarch 23, 2016
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Co-presidents vow to improve nation's sports after completing merger
The co-leaders of the integrated national sports body said Wednesday that the merger of two sports bodies will further enhance the country's effort to develop sports.Kim Jung-haeng, president of the Korean Olympic Committee (KOC), and Kang Young-joong, head of the Korea Council of Sport for All (KOCOSA), were inaugurated as co-presidents of the Korean Sport & Olympic Committee (KSOC) and began their work on Wednesday after a ceremony in Seoul.The KSOC was officially founded on Monday after the l
Social AffairsMarch 23, 2016
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Seoul to mark Korean cosmetics to prevent knock-offs
Seoul authorities have decided to implement a new system to distinguish original Korean cosmetic products from knockoffs that are common in China. The Korea Customs Service on Tuesday said it plans to mark Korean cosmetics with a special QR code label to verify authenticity and ultimately help protect both brands and consumers. KCS plans to implement the new verification system starting from June. Chinese knockoffs based on original Korean cosmetics products (Korea Customs Service)In tandem with
IndustryMarch 23, 2016
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Samsung emboldened by robust Galaxy S7 sales worldwide
Samsung Electronics’ latest flagship smartphone Galaxy S7 is enjoying strong sales since its launch on March 11. The company is not revealing sales figures, but industry watchers say the phone could become the best-selling Galaxy phone ever. Samsung’s Galaxy S7 Studio in Guangzhou, China, is packed with visitors. The company operates the pop-up space to experience the latest Galaxy phone in major cities such as London and Hong Kong. (Samsung Electronics)In Korea, more than 100,000 units were sol
TechnologyMarch 23, 2016
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[Market Now] FSC plans new policy to spur reverse mortgages
The Financial Services Commission said Wednesday that it would introduce a new set of policies aimed at spurring reverse mortgages in an effort to help the elderly to better prepare for their post-retirement.In a meeting with officials from the housing sector, FSC chairman Yim Jong-yong said the regulatory body would offer the public the so-called “three sets of housing pension” in order to change the negative perception of home ownership. FSC chairman Yim Jong-yong (Yonhap)He hinted that those
March 23, 2016
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Artday to hold March auction
Herald Artday, a subsidiary of Herald Corp., is holding its March online auction from March 25-29, presenting major artworks by modern and contemporary Korean artists. “Inside, Outside” by Kim Ki-rin (Artday) The art auction will feature 180 artworks by renowned Korean artists, including Kim Ki-rin, Ahn Chang-hong, Yoon Byeong-rak, Park Young-sun, Suh Se-ok and Park Noh-su. Highlights of the auction include monochrome paintings by Kim Ki-rin and Park Seo-bo, a painting of a Manchurian Violet by
PerformanceMarch 23, 2016
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Chinese display-makers pose growing threat to Samsung, LG
Korean display giants -- Samsung Display and LG Display -- will continue to face headwinds in the world’s liquid crystal display sector as their Chinese rivals are upping the ante, according to market analysts.Citing prolonged oversupply, dipping demand and increasing clout of Chinese display-makers, the analysts from Korea, Taiwan and Japan all gave a dismal outlook over this year’s LCD market during the Korea Display Conference 2016 in Seoul this week. Samsung Display’s LCD factory in Suzhou
TechnologyMarch 23, 2016
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Galaxy S7 tops Consumer Reports smartphone pick
Samsung Electronics’ latest high-end smartphone, the Galaxy S7, on Wednesday earned the top rating by a leading U.S. magazine for its cameras and other features. “These new models aren’t just Samsung’s best smartphones, but, perhaps, the best smartphones. And they now sit atop our ratings,” said Consumer Reports. Samsung Galaxy S7 (Yonhap)The magazine cited features such as cameras, water resistance and processors as the reason behind its favorable views.“Our tests confirmed that the Galaxy S7
IndustryMarch 23, 2016
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Kona I to export USIM chips to Iran
Smart card chip solution developer Kona I said Thursday that it has signed a supply deal with Mobile Telecommunication Company of Iran, the largest telecommunications firm in Iran.The Seoul-headquartered firm said that it will supply some 10 million USIM chips to the Iranian company, which currently takes up around 70 percent of the Iranian telecom market.Kona I’s integrated circuit card. (Yonhap)Kona I was able to ink the deal after beating Gemalto, the world’s leading USIM chip maker, in a yea
TechnologyMarch 23, 2016
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Korean food industry strives to reduce sugar
In line with rising health consciousness here and abroad, the South Korean food industry is working to reduce sugar content across diverse product categories. Amid growing concern over the adverse effects of high-sugar diets, Korea’s sugar substitutes market is fast expanding. Companies are also introducing a wider range of low-sugar beverages and dairy products for an increasingly health-conscious public.CJ Cheil Jedang's Xylose sugar (CJ Cheil Jedang) The size of the local consumer-bought sug
IndustryMarch 23, 2016
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[Market Now] Leenos acquires manicure maker SUR
Leenos, a KOSDAQ-listed fashion and information technology solutions company, has acquired a 66.67 percent stake in SUR Korea, a nail polish cosmetics maker, according to a regulatory filing Wednesday.Leenos reported that it financed the acquisition of SUR’s new shares worth 2 billion won ($1.7 million) in cash as part of its efforts to “diversify its business and seek new growth.”Leenos imports fashion bag brands of Kipling and Eastpak for the local retail market, and provides communication sol
March 23, 2016
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[Market Now] Hanwha Asset increases stake in Wonik Materials
Wonik Materials, a KOSDAQ-listed gas materials company, said in its disclosure report Wednesday that Hanwha Asset Management has purchased 64,487 shares of Wonik Materials.The share purchase has increased Hanwha Asset’s stake in Wonik from 7.48 percent to 8.52 percent, the company said.Wonik IPS, a semiconductor equipment maker, has a 46.5 percent stake in Wonik Materials, which supplies gas materials to Samsung Electronics and SK Hynix for the manufacturing of chips and flat-panel displays. Han
March 23, 2016
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SKT releases robot for software education
Network operator SK Telecom released Albert School, a toy robot for computer coding education, on Wednesday.The robot is the latest version of the company’s toy robot Albert and is specifically designed to help software education at schools. Students attend a computer-coding class run by mobile network firm SK Telecom. (SKT)The previous Albert models can be only controlled by mobile devices such as smartphones and tablet PCs, but students can write computer codes with PCs to control the new Alb
TechnologyMarch 23, 2016