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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Korean chipmakers' share in global DRAM market hits record high
South Korean chipmakers garnered a record-high share in the global market for dynamic random access memory chips in the third quarter, data showed Tuesday, further widening the gap with other global rivals. Samsung Electronics Co. took up 45.9 percent of the global DRAM market in the July-September period, up 3.6 percentage points from a year earlier, the data compiled by industry tracker IHS showed. With Samsung's local rival SK hynix Inc. also taking up 27.6 percent of the market in the thir
Dec. 15, 2015
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Yum may sell Pizza Hut Korea
Yum Brands is reportedly exploring the sale of Pizza Hut Korea after the Korean unit converted its self-operated outlets to franchised stores and cut thousands of jobs, sources said Monday.There has been wide speculation after Pizza Hut Korea’s labor union said that the Kentucky-based franchise giant is seeking to sell a master franchising license to a third party company. Yum owns fast food restaurant chains like Pizza Hut, KFC and Taco Bell. “The company is laying the groundwork for its master
Dec. 14, 2015
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FTC issues ‘cosmetic surgery warning’
Last year, Lee Min-ji (not her real name) decided to undergo fat grafting to her forehead and cheeks at a cosmetic surgery hospital in Seoul. Two months later, she began to feel palpable bumps in the areas where she had received surgery. The cause was calcification -- a hardening of the skin tissue that sometimes occurs when high amounts of fat are concentrated in one area. As she was neither informed about the details of the surgical procedure nor its potential side effects prior to her surgery
Dec. 14, 2015
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Korean firms brace for emissions target
The South Korean business community agreed on the inevitability of the new climate change pact for globally sustainable growth, but expressed concern over its impact on local industries.Korea is among the world’s top 10 carbon emitters as 30 percent of the export-driven country’s businesses are based in manufacturing. Under the new climate deal reached by world leaders last week, the Seoul government must develop a detailed road map to achieve its 2030 target of reducing greenhouse gas emissions
Dec. 14, 2015
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[Newsmaker]After warm-up, SK chief may return to board
SK Group chairman Chey Tae-won is reportedly considering rejoining the board of three affiliates including the group’s parent company SK Corp., amid mounting pressure on him to hold more legal and ethical responsibilities as the owner of the nation’s third-largest conglomerate. According to industry sources and reports Monday, Chey is likely to join the board of directors of the three firms at the shareholders meeting scheduled in February and March. SK chairman Chey Tae-won (SK) If shareholder
Dec. 14, 2015
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LSIS leads smart factory innovation
LS Industrial System is focusing on the smart factory industry in line with the government’s move to boost manufacturing innovation.Opened in 2014, the LSIS smart factory in Cheongju, North Chungcheong Province, boasts a smart manufacturing line that automates every stage of production.According to company officials, low-voltage circuits and magnetic switches are automatically manufactured, and programmable logic controllers and manufacturing execution systems oversee the process and collect dat
Dec. 14, 2015
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Woori Bank seeks financial innovation
Woori Bank is seeking financial innovation to boost its profits under the leadership of its CEO Lee Kwang-goo, who took office a year ago.The bank set up a financial technology department and adopted a financial engineering tool that uses information communication and technology for the first time in the financial industry.It also created an asset management system using the Internet of Things and launched its mobile-only system Wibee Bank. Woori Bank CEO Lee Kwang-goo speaks at a management str
Dec. 14, 2015
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KEPCO wins $510m wind power plant deal in Jordan
South Korea's state-controlled electric utility company on Monday said it has inked a deal to build and operate a wind power plant in Jordan. The $510 million agreement calls for Korea Electric Power Corp. to build the 89.1 megawatt Fujeij wind farm in the Middle Eastern country. The agreement also includes a power purchase agreement that outlines the details of the utility company operating the plant and selling the power generated to Jordan. The build, own and operate arrangement gives KEPCO
Dec. 14, 2015
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Samsung expands share in chip market: data
South Korea's top tech firm Samsung Electronics Co. is expected to further expand its presence in the chip segment this year, data showed Monday, with its sales estimated to reach a record level. The South Korean chipmaker is anticipated to log a market share of 11.6 percent this year, up 0.9 percentage point from 2014, the data compiled by market tracker IHS showed. Its sales are also expected to advance 6.9 percent to a record US$40.7 billion over the cited period. Intel Corp. is expected to
Dec. 14, 2015
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Kia Motors posts sales spike in Mexico in Nov.: data
Kia Motors Corp., South Korea's second-ranked carmaker, saw its sales in Mexico jump over 20 percent in November from a month earlier, industry data showed Monday. According to data provided by a local automotive association, Kia Motors sold a total of 2,247 cars in Mexico last month, up 22.9 percent from the previous month. This followed a 6.9 percent on-month rise in October, and also marked the fourth straight month of growth since its first entry into the Mexican market in July. With the
Dec. 14, 2015
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SK Telecom to roll out direct-call Gear S2
South Korea's top mobile carrier SK Telecom Co. said Monday it will roll out a new edition of Samsung Electronics Co.'s Gear S2 smartwatch this week that allows users to make calls without being linked to a smartphone. While previous Samsung Gear S2 models have to link to smartphones with Bluetooth technology, SK Telecom said the new device, sold exclusively to its subscribers, can connect to the network independently. The top mobile carrier said wearable devices were especially popular among
Dec. 14, 2015
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Seoul shares start lower on sliding oil prices
South Korean stocks got off to a weak start Monday as investors sentiment was spooked by the sharp fall in oil prices and last week's drop in U.S. stocks. The benchmark Korea Composite Stock Price Index tumbled 26.45 points, or 1.36 percent, to 1,922.17 in the first 15 minutes of trading. Stocks fell across the board, with tech firms and chemicals leading the losses. Market bellwether Samsung Electronics dropped more than 1 percent, and chipmaker SK Hynix sank 3.02 percent. Amore Pacific, the
Dec. 14, 2015
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Hana Financial chief wins award for top negotiator
Kim Jung-tai, chairman of Hana Financial Group, has been honored by a local association of business management scholars for his negotiation skills, the group said Sunday. Kim, who has been serving at the helm of Hana Financial since March 2012 after a five-year stint as vice chairman, won the top prize given by the Korean Association of Negotiation Studies as this year’s most recognizable negotiator. Kim Jung-tai (third from left), chairman of Hana Financial Group, poses with others at the awar
Dec. 13, 2015
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Pinning responsibility for self-driving car accidents
With local carmakers and electronics giant Samsung jumping into autonomous car business along with the government’s plan to commercialize the sector by the year 2020, interest is growing over one tricky matter: who will be held responsible for accidents involving such vehicles? Automated vehicle is a revolutionary concept in motoring as the human drivers take a backseat while the computerized machine, instead, takes control of navigation. But the question of liability for accidents involving dri
Dec. 13, 2015
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SK, creative economy center seek start-ups for Middle East market
SK Group and the Daejeon Creative Economy Innovation Center plan to select and support start-ups seeking to enter the Middle East market, group officials said Sunday.The conglomerate and the center, which was jointly established by SK and the government in Daejeon, held a contest last month for start-ups and small and medium-sized enterprises wishing to enter the Middle East market and are currently in the process of selecting the final candidates.The project first started when President Park Ge
Dec. 13, 2015
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Hyundai, Kia consider higher sales target next year: industry sources
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. are considering hiking their annual sales target by 100,000 for next year despite tough global market conditions, industry sources said Sunday. Company officials, however, said that nothing has been decided, adding that they need more time to finalize their 2016 business plan. According to industry sources, the two South Korean carmakers internally have decided to sell around 8.3 million units at home and abroad next year. The figure
Dec. 13, 2015
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[Weekender] Airports turn to wining, dining, shopping destinations
Lotte Duty FreeIf you’ve viewed airports as just places to board and disembark airplanes, you may want to do more from now. International airports are transforming into great places to shop and dine. Visiting the duty-free sections has become one of the most-anticipated parts of traveling to Korea. About 45 million visitors spent about 2.1 trillion won ($1.78 billion) at the Incheon International Airport last year, the highest amount in the world.From the world’s first Louis Vuitton store to glo
Dec. 11, 2015
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[Weekender] Hidden places at Incheon Airport raise customer loyalty
Jordan Reinhart, 26, and her fiance from Canada arrived at South Korea’s Incheon International Airport on Tuesday morning, exhausted and ready to head back home after spending their winter vacation in Bali. With a nine-hour layover ahead, the couple had originally planned to step out of the airport to explore Seoul for the day, but decided against the idea because of issues concerning their credit cards.Though initially worried about how they would spend those long hours, staying inside the airp
Dec. 11, 2015
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[Weekender] Airports as cultural, commercial destinations
International passengers wait for their flight at the departure terminal at Ihcheon Airport. Incheon AirportKim Young-chul, 37, an engineer for a shipbuilding company, often visits Incheon International Airport, South Korea’s main gateway, with his family. But he comes here not only for travel, but for family activities as well. “For my two daughters, the airport is a fun and dynamic place packed with people from around the world. When we visit the airport, we often spend a few hours there, whil
Dec. 11, 2015
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[Weekender] Speed, convenience are behind Incheon Airport’s service crown
Long queues of people, unpleasant hours of waiting for check-in and later sprinting to the gate to clear immigration in time for the flight ― these are common bugbears of using a busy airport.Though bustling with some 134,000 travelers a day, check-in delays are rare on a regular day at South Korea’s award-winning Incheon International Airport, which prides itself on offering users the fastest and most convenient services in the world.The arrivals hall at Incheon International Airport (Incheon I
Dec. 11, 2015