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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Samsung bets big on biotechnology
SONGDO, Incheon -- Samsung BioLogics broke ground on its third production plant in Songdo, Incheon, Monday, drawing closer toward its stated goal of becoming the world’s No. 1 contract manufacturer of biologic drugs by 2020. The new plant, to be constructed with an investment of 850 billion won ($740 million) will boast a production capacity of 180,000 liters to become the single largest biologics manufacturing facility in the world upon its completion in 2018. Combined with its two existing pla
Dec. 21, 2015
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Korean Air wraps up 2015 mission of planting love, hope
From small communities in Korea to flood-stricken Nepal, Korean Air wrapped up its annual mission to support people in need around the world, fulfilling its corporate responsibility as the nation’s largest air carrier. Employees of Korean Air pose for photo after planting trees in the Baganuur Desert in Mongolia. Korean AirAccording to the company, it has completed a series of sharing projects to relieve the pain of people suffering from poverty and isolation through joint efforts by its senior
Dec. 21, 2015
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KOGAS denies report on gas field investment in Iran
Korea Gas Corp. on Monday denied a local report that it plans to invest in South Pars gas field in Iran, making it the first Korean company to invest in the Middle East country that had been slapped with international economic sanctions over its nuclear program.According to local reports quoting officials at the Trade Ministry, the state-run company recently sent its officials to discuss ways to invest in the world’s largest gas field, which has been running behind in its development schedule du
Dec. 21, 2015
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‘Distriparks’ at heart of mission to create East Asian maritime hubs
More and more companies are eyeing Korea’s hinterland industrial-commercial complexes, which grant not only geographical benefits for logistics traders but also various tax perks to the residing firms. The “Distripark” sites, once simply storage or logistics-related locations, are rapidly becoming hot spots for multi-business and residential areas of the seashore.According to the Ministry of Oceans and Fisheries, more than 145 companies have decided to nestle in the country’s four major complexe
Dec. 21, 2015
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POSCO E&C to build landmark in Busan
POSCO Engineering & Construction is taking on the challenge of building Korea’s tallest residential apartment complex --“LCT The Sharp” -- near Haeundae, Busan. It was chosen in July to undertake the construction. The apartment complex will consist of three buildings, a 411.6-meter, 101-story landmark tower and two 85-story residential apartments both 339.1 meters high.The landmark tower will house an observatory, a tourist hotel run by Lotte Hotel and a residence hotel for long-term stay. The t
Dec. 21, 2015
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Bidding for Daewoo Securities ends
Four entities have placed bids to buy the country's second-largest brokerage house Daewoo Securities Co. in a deal that could be a possible game changer for at least three of the four prospective buyers, informed sources said Monday.The prospective buyers are KB Financial Group Inc., the largest banking giant by assets; the country's leading asset management expertise firm Mirae Asset Group; Korea Investment Holdings Co.; and the employee stock ownership association led by Daewoo's labor union.T
Dec. 21, 2015
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KT&G launches The One Gold Label
The One Gold Label (KT&G)KT&G, the country’s largest tobacco-maker by market share, on Monday launched the premium edition of its The One brand with micro charcoal filters. Dubbed “The One Gold Label,” the new edition applies triple-layered micro charcoal filters that maximize the clean finish, in addition to premium quality tobacco leaves, the tobacco-maker said in a press release. The gold label came after three years of research and development, targeting demand for premium cigarettes, KT&G
Dec. 21, 2015
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Samsung breaks ground for 3rd bio factory in Korea
Samsung BioLogics Co., a pharmaceutical arm under South Korea's top conglomerate Samsung Group, said Monday that it will build its third production line in the country by 2017, as part of an effort to focus on securing a new growth engine.Under the plan, Samsung BioLogics will invest 850 billion won ($721 million) to build the facility in Songdo, west of Seoul, which will make the firm the world's top contract manufacturing organization.The new facility will boast an annual production capacity o
Dec. 21, 2015
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Samsung Engineering wins $550 mln plant order
Samsung Engineering Co., the plant engineering unit of South Korea's top conglomerate Samsung Group, said Monday that it has received a 649 billion won ($550 million) order to improve a refining plant in Mexico.Under the deal with Petroleos Mexicanos, Samsung Engineering will upgrade the plant with a capacity of 53,000 barrels of ultra-low sulfur diesel by the end of 2018.The deal also includes building a new plant in Salamanca, northwest of Mexico City, which produces 38,000 barrels of ULSD by
Dec. 21, 2015
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Daewoo E&C seeks sale of mall near Yongsan Station
Daewoo Engineering & Construction Co. is promoting the sale of “Yongsan Summit Square,” a shopping mall in Yongsan, central Seoul, company officials said Sunday.The officials said the mall in front of Yongsan Station was part of the high-rise residential complex “Yongsan Prugio Summit” that the company has constructed. An artist’s rendering of Yongsan Prugio Summit (Daewoo E&C)The three-story mall includes 139 shops and is expected to draw high demand given that it is situated near AmorePacifi
Dec. 20, 2015
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Hyundai's Creta SUV named 2016 Car of the Year in India
The Creta, a small SUV made by Hyundai Motor Co., has been named the Indian Car of the Year 2016 thanks to its strong popularity in the world's No. 4 car market, Hyundai said Sunday. The Creta, which was rolled out in July, outrivaled 12 other models, including Honda's Jazz, in seven categories such as sales records, price, performance, fuel efficiency and safety, said Hyundai, South Korea's top automaker. The Creta crossover SUV is the fourth Hyundai model that has earned the prestigious award
Dec. 20, 2015
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POSCO C&C to export new aluminum-coated steel sheet to U.S. firm
POSCO C&C Co., a South Korean maker of coated steel sheets, has signed a contract to supply annually more than 10,000 tons of a highly corrosion-resistant, aluminum-coated steel sheet to a U.S. auto parts producer, its parent company said Sunday. Under the deal, POSCO C&C will supply AP Emissions Technologies, the leading aftermarket exhaust and emissions supplier in America, with over 10,000 tons of its latest coated steel sheet, dubbed "Super Alcosta," over the next four years, according to P
Dec. 20, 2015
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Hyundai, Kia log record RV sales in U.S.
South Korea's top automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. sold a record number of recreational vehicles in the United States this year, driven by strong demand for cars designed for outdoor and leisure activities, industry data showed Sunday. During the first 11 months this year, Hyundai and Kia sold a combined 484,381 RVs, including SUVs, station wagons and minivans, according to the data. The figure already outnumbers the 460,561 RVs that the two auto giants so
Dec. 20, 2015
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In-flight passenger misconduct on the rise: report
The number of passengers cited for unlawful activities or misconduct on domestic and international flights to and from South Korea is growing, partly due to the sheer rise in the number of air passengers, a government report showed Saturday.In the first 10 months of the year, the number of in-flight passenger misconduct cases came to 369, already surpassing the annual total of 354 from last year, according to a report from the Ministry of Land, Infrastructure and Transport submitted to ruling pa
Dec. 19, 2015
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Tesla Motors ready to enter Korea
Tesla Motors, a U.S. premium electric carmaker, is preparing to enter the Korean market by completing the registration of its Korean unit with the local authorities, Yonhap news agency reported Friday.According to the Supreme Court and inside sources in the auto industry, Tesla registered the corporate name of “Tesla Korea Ltd.” here on Nov. 13.The corporate registration documents state Tesla general counsel Todd A. Maron and director Susan Jean Repo as co-CEOs with a total capital of 100 millio
Dec. 18, 2015
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Hotel Lotte to apply for IPO next week
Hotel Lotte is reportedly set to file its application for listing on the nation’s main stock bourse early next week, according to sources Friday. They noted that the hotel unit of South Korean retail giant Lotte Group will submit its application to the Korea Exchange on Monday for a preliminary regulatory review of its initial public offering, which will mark the company’s debut on the stock market as early as March.Hotel Lotte in Seoul (Yonhap) The move was expected as Lotte Group chairman Shin
Dec. 18, 2015
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Conglomerates bet on car-sharing business
Kim Jung-hoon, a 32-year-old office worker, reserved a SM5 vehicle parked near his home in Seoul for 30 minutes last weekend via a car sharing service -- a form of short-term vehicle rental in which users pay by the minute and distance traveled. All he had to do was search for a desired vehicle near his house, select a rental time period, which can be extended every 10 minutes, and digitally access the car via a smartphone app run by SoCar, a leading car sharing service operator. “It’s such an e
Dec. 18, 2015
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Hyundai Card sets models for going mobile
Hyundai Card’s “Digital Hyundai Card” project, launched in October, has set benchmarks for the future of digital cards.The company said its digital card has tried to go a different path from the typical mobile cards that other card companies offered.While card companies provided a mobile-only card that simply digitizing the credit card system, the Digital Hyundai Card differentiated itself by providing additional services using digital technology based on customers’ needs. Image of Digital Hyund
Dec. 18, 2015
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Ikea overhauls Korean home furnishing
South Korea’s home furnishing market has grown rapidly in recent years as Koreans begin to renovate and decorate their aging homes, but there’s another reason for this year’s growth -- the local opening of Swedish furniture giant Ikea. Industry insiders said the arrival of Ikea acted as a major driver for the local furniture firms to overhaul their business strategies, including distribution and online channel expansions, as well as cost-cutting efforts to sharpen their competitive edge over the
Dec. 18, 2015
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Profit-making corporations post higher sales, more assets in 2014: report
Profit-making corporations in South Korea reported an overall rise in sales and more assets in 2014 compared to the year before, helped by growth in the country's service sector, the government said Friday.According to Statistics Korea, there were 540,508 profit-making firms in the country last year, up 6.9 percent from 505,760 in 2013. It said that combined sales of these companies stood at 4,189 trillion won ($3.53 trillion), a gain of 58 trillion won from the year before with combined assets
Dec. 18, 2015