Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Yoon set for talks with Marcos in Philippines
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Can Jennie break the K-pop solo artist slump?
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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First lady’s Dior bag scandal to be at center of Assembly audit
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Yoon honors veterans of Korean War in trip to Philippines
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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[KH Explains] Can G-Star level up?
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Organica-day acquires juice plant from CJ
Organica-day, the juice-making arm of Herald Corp., on Wednesday said it has acquired a high-pressure processing beverage manufacturing facility in Anseong, Gyeonggi Province, from CJ CheilJedang.Dubbed the Anseong Just Juice Production Center, the plant will become the epicenter of the burgeoning cleanse juice business for the company, which has recently secured prestigious clients such as Starbucks, Artise bakery, Hyundai, Shinsegae and The Galleria department stores. “The acquisition has enab
Dec. 16, 2015
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Absolut releases new mobile membership app
Pernod Ricard Korea’s premium vodka brand Absolut recently released its mobile membership application “Absolut Me,” company officials said Wednesday.Absolut Me provides the latest news on Absolut and a variety of information such as Absolut signature cocktail recipes, Absolut parties and cocktail classes and locations of bars that offer Absolut vodka.The app, available for Android and iOS, has reached over 1,000 total downloads since its launch on Dec. 2. Absolut’s mobile membership app “Absolut
Dec. 16, 2015
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IKEA to open five more stores in S. Korea by 2020
Swedish furniture giant IKEA said Wednesday it will invest 1.2 trillion won ($1.01 billion) to build five more stores in South Korea by 2020, buoyed by the success in its inaugural store in suburban Seoul. IKEA opened its largest store in the world in Gwangmyeong, just southwest of Seoul, posting 308 billion in sale since its launch a year ago. About 6.7 million visitors have passed through the doors at the store, located less than an hour's drive or 14 minutes by bullet train from central S
Dec. 16, 2015
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Ssangyong E&C bags $1.6 bln construction deals in Dubai
Ssangyong Engineering & Construction Co., a South Korean builder, said Wednesday it has clinched $1.6 billion worth of orders to construct a luxury hotel, as well as apartment and office buildings, in Dubai. Ssangyong E&C said that it will lead the construction of a 47-story hotel and a 37-story apartment building in Palm Jumeirah for $840 million, a contract secured from the Investment Corporation of Dubai, a local sovereign wealth fund. In a separate deal inked with a subsidiary of the ICD
Dec. 16, 2015
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Low-cost mobile carriers expand presence in Korea
South Korea's ICT Ministry said Wednesday mobile virtual network operators accounted for more than 10 percent of the local mobile market as of November, amid the booming popularity of budget handsets in the country. According to the data compiled by the Ministry of Science, ICT and Future Planning, the number of users subscribing to MVNO's service plans came to 5.84 million as of end-November, taking up 10.1 percent of the country's 57.78 million subscribers of mobile networks. MVNOs refer to
Dec. 16, 2015
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Hyundai, Kia log double-digit sales growth in Europe
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. logged double-digit sales growth in Europe last month, but their combined market share inched down, industry data showed Wednesday. According to the data by a local automotive association in Europe, the two South Korean carmakers sold a combined 66,517 vehicles there, up 10.7 percent from a year earlier. Hyundai Motor sold 35,897 units, up 12 percent from a year earlier, while Kia Motors logged 9.2 percent growth to 30,620 units.
Dec. 16, 2015
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Business leaders, officials pledge family-friendly corporate culture
In tune with the government’s recent plan to tackle the nation’s record-low birthrate, business leaders said Tuesday that they would help firms create a family-friendly culture for their employees.“We share the view that the problem of marriage and births no longer belongs to individuals only, but is an urgent task that needs to be solved together with the government, businesses and individuals,” said representatives from South Korea’s five major business lobby groups in a declaration read durin
Dec. 15, 2015
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[SUPER RICH] The riches of chaebol scions
There is an old saying that a wealthy family loses all its fortune by the third generation. It is difficult to determine whether the saying holds true for the Korean chaebol, as many are still controlled by their second generation, with some not even setting the next succession process in motion. However, the third generation chaebol scions own incredible amounts of assets, usually in the form of stocks. The Superrich Team looked into the assets of third-generation descendants, including those i
Dec. 15, 2015
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[Photo News] Starbucks awarded for job creation
AWARD FOR JOB CREATION -- Starbucks Coffee Korea CEO Lee Seock-koo (right) receives a government order of merit from Employment and Labor Minister Lee Ki-kweon for the company’s contribution to job creation on Tuesday in Seoul. The coffee shop operator hires an average of 10 staff members for every new store, all with a regular work contract instead of part-time. Starbucks Coffee Korea
Dec. 15, 2015
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Ford’s Schuldt named new AMCHAM chief
John SchuldtThe American Chamber of Commerce in Korea on Tuesday named John Schuldt as the new president replacing incumbent Amy Jackson. Schuldt, who serves as the vice president and chief marketing officer at Ford Motor Korea, is currently the chairman of the golf committee and cochairman of auto committee of the business lobby group. He will start his term on Jan. 7 as a full-time AMCHAM executive, .“John comes to AMCHAM with a wealth of private sector experience that will serve him well in h
Dec. 15, 2015
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CJ chairman receives jail term in retrial
On Tuesday afternoon, CJ Group chairman Lee Jae-hyun showed up at the Seoul High Court in a wheelchair, armed with a bulky winter coat, a muffler and a face mask.It was the day of his retrial for embezzlement, breach of conduct and tax evasion. Much to his dismay, he was found guilty and handed a 2 1/2-year prison term and a 25.2 billion won ($21.2 million) fine. Lee was charged with creating a 620 billion-won slush fund by embezzling 160 billion won from the company coffers, thus dodging 54.6 b
Dec. 15, 2015
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[Photo News] S-Oil awards firefighers for their heroic services
AWARD FOR FIREFIGHTERS -- S-Oil CEO Nasser Al-Mahasher (left) hands plaques and cash prizes to eight selected firefighters on Tuesday during the “2015 Hero Firefighters Award” ceremony, held at Yongsan Fire Station in Seoul. Firefighter Bae Gi-man from the Chungnam Fire Service Headquarters and seven other firefighters each received a plaque and a cash prize of 90 million won. S-Oil
Dec. 15, 2015
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Ford Motor executive named new AMCHAM Korea president
The American Chamber of Commerce in South Korea said Tuesday it has appointed the outgoing vice president of Ford Motor Company Korea as its new president. John Schuldt will serve as the new president of AMCHAM Korea starting Jan. 7, replacing current chief Amy Jackson. Schuldt has served as vice president and chief marketing officer of Ford Motor Korea for three years and is set to step down from his position later this year. AMCHAM was founded in 1953 to expand investment and trade between
Dec. 15, 2015
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GM Korea to receive early retirement applications
GM Korea Co., the local unit of U.S. carmaker General Motors Co., announced a voluntary retirement program for its employees Tuesday as it pushes to enhance business efficiency and cut costs amid lackluster sales. The automaker said it will receive applications for voluntary retirement from its office workers for 10 days from Jan. 4-13. "We have decided on the voluntary retirement program as part of efforts to secure corporate competitiveness, organizational agility and efficiency," the compa
Dec. 15, 2015
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LG Uplus rolls out Huawei's budget smartphone in Korea
South Korea's No. 3 mobile carrier LG Uplus Corp. said Tuesday that it will exclusively distribute a budget smartphone released by China-based Huawei, a move that may signal a further setback for local manufacturers already facing challenges from Chinese brands. The Y6 smartphone, which comes with a price tag of 154,000 won ($130.2), can be free if a user subscribes to a monthly plan of 30,000 won or higher, LG Uplus said. The 5-inch smartphone comes with a 2,200 mAh removable battery along wi
Dec. 15, 2015
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Property deal app draws 38 bln won from Goldman Sachs
Zigbang Co., South Korea's top real estate info application, said Tuesday it has attracted a 38 billion won ($32 million) investment from a Goldman Sachs-led consortium. Founded in 2012, Zigbang links real estate agents and renters using a mobile-based platform that utilizes the global positioning system. It had over 10 million downloads as of October, listing more than 2.5 million properties for rent or sale and over 5,000 real estate agents. Zigbang said it will use the fund to expand new
Dec. 15, 2015
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Hyundai Motor to unveil full-change version of Grandeur in late 2016
Hyundai Motor Co., South Korea's largest carmaker, will unveil its full-change version of the popular Grandeur large-size sedan in the second half of next year, industry sources said Tuesday. The Grandeur has not been completely modified in terms of its power trains and designs since 2011 when its fifth-generation was launched. The sources close to the matter told the English division of Yonhap News Agency that Hyundai Motor will unveil the sixth-generation of the Grandeur in the second half o
Dec. 15, 2015
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Auto sales to shrink in South Korea next year, but foreign brands keep advancing: report
Car sales in South Korea are expected to contract for the first time in three years in 2016 with foreign brands likely to keep expanding their market share, a report by Hyundai Motor Group's think tank showed Tuesday. Carmakers -- foreign and local brands -- are expected to sell about 1.76 million units in South Korea next year, down 1.3 percent from this year's estimated 1.78 million units, according to the report obtained by the English division of Yonhap News Agency. The report was compiled
Dec. 15, 2015
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Hyundai's Aslan sedan picked as Korea's safest car in 2015
Hyundai Motor Co.'s full-sized, luxury sedan Aslan has been picked as the safest car in South Korea for 2015, the government said Tuesday. According to the Ministry of Land, Infrastructure and Transport, the Aslan, first launched in 2014, received the highest marks in terms of passenger safety in the event of a collision, maximum protection for pedestrians, driving safety and accident prevention features. The Aslan, built on the Grandeur-Azera platform, is designed mainly for the domestic mark
Dec. 15, 2015
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Samsung takes patent war with Apple to Supreme Court
Samsung Electronics asked the U.S. Supreme Court on Monday to reduce $548 million in damages it was ordered to pay Apple in a lengthy court battle over allegations that it copied designs of the iPhone. The appeal came after Samsung agreed earlier this month to pay the total damages, saying it expects to be reimbursed depending on its appeals to the Supreme Court. In the latest appeal, Samsung is seeking to knock $399 million off the total amount. "A patented design might be the essential feat
Dec. 15, 2015