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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[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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Seoulites celebrate coexistence at Wellness Seoul 2024
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[KH Explains] Can G-Star level up?
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Ex-president's daughter investigated for drunk driving accident
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Hyundai, Kia see China sales bounce back in Oct.
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. said Tuesday that their combined sales in China grew for the first time in six months in October. The two leading South Korean carmakers said that they sold a total of 156,575 vehicles in China last month, up 4.7 percent from a year earlier. This followed an 11-percent drop in the previous month. It also marked the first rise since April when they posted 2.4 percent growth in total sales. Hyundai Motor sold 100,069 cars last month
Nov. 3, 2015
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Kakao launches premium taxi-hailing app
Kakao Corp., the operator of South Korea's most widely used messenger app KakaoTalk, said Tuesday it began running its latest mobile application that offers taxi-booking services for luxury vehicles, following a two-week test run. Introduced late last month, KakaoTaxi Black is a high-end cab-hailing tool for smartphone users that takes a customer to a requested destination via a Mercedes or Lexus, for a minimum fare of 8,000 won ($7), compared to 3,000 won charged for general taxis. It is no
Nov. 3, 2015
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Coupang to invest 1.5 tn won in expanding logistics capacity
Coupang, a leading South Korean e-commerce operator, said Tuesday it will invest 1.5 trillion won ($1.32 billion) in expanding logistics capacity over the next three years to step up its same-day delivery service. Coupang launched an ultra-fast delivery service called "Rocket Delivery" in March 2014 by establishing its own logistics system and employing couriers, joining the global wave of delivery wars led by online retail behemoth Amazon. The company said it has hired about 3,500 full-tim
Nov. 3, 2015
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Consumer goods fair kicks off with retail giants
Hundreds of global retail companies like Amazon.com Inc. gathered in Seoul on Tuesday to purchase quality consumer goods and seek new business opportunities in South Korea, the trade ministry said. The Korea Consumer Goods Showcase 2015 kicked off for a two-day run, bringing together Amazon.com, China's No. 2 online shopping mall JD.com Inc., Japan's Rakuten Inc., U.S. Lowe's Companies Inc., French Yves Rocher and many other retailers and shopping mall operators, according to the Ministry of Tr
Nov. 3, 2015
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Samsung may eke out 200 tln won in sales for 2015: analysts
South Korean tech giant Samsung Electronics Co. is forecast to barely rack up 200 trillion won ($176 billion) in sales for this year as its fourth-quarter outlook seems precarious on seasonal factors and a continued slowdown in its smartphone segment, analysts said Tuesday. The world's top smartphone maker is expected to post a cumulative 200.9 trillion won in sales for 2015, with the operating income to reach 27.1 trillion won annually, according to a median estimate of 24 local brokerage fir
Nov. 3, 2015
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Prosecution launches probe on Hanmi Pharma
The country’s prosecution has launched an investigation into allegations that Hanmi Pharmaceutical took part in a scheme to manipulate stock prices to reap illegal profit, sources said on Monday. Related departments of the Supreme Prosecutor’s Office said they searched the offices of local brokerages including Korea Investment & Securities. A worker at Hanmi allegedly plotted with a brokerage employee to inflate the prices of the pharmaceutical firm’s listed stocks. The scheme came to light when
Nov. 2, 2015
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93-year-old Lotte founder hospitalized
Shin Kyuk-ho, founder of Lotte Group, a retail and food conglomerate based in South Korea and Japan, has been taken to a local hospital, industry sources said Monday. The 93-year-old business tycoon was brought to Seoul National University Hospital, located in central Seoul, earlier in the day. Shin has been receiving reports on the group's management in his office located in a Lotte-owned hotel in Seoul. Lotte founder Shin Kyuk-ho (Yonhap) An official from SDJ Corp., a company established
Nov. 2, 2015
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‘Korea is a powder keg for industrial espionage’
More and more Korean firms are facing lawsuits over trade secret infringement and it is time the companies put in place measures to tackle such cases of economic espionage, said the head of a global law firm in Seoul. “Korean firms should also change their perception toward intellectual property rights and consider it a revenue source rather than cost, and aggressively pursue litigations against the violators,” Kim Jong-han, chief representative of South Korea at Paul Hastings, told The Korea He
Nov. 2, 2015
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Hanjin founder Cho’s biography published
Hanjin Group, the operator of the country’s largest airline Korean Air, has released a biography of the group’s late founder Cho Joong-hoon, the firm said Monday.The group held a ceremony to commemorate the publication of “Business as an art,” which depicted Cho’s management philosophy and foundation spirit as part of a project to mark the company’s 70th anniversary. “The biography contains hitherto unpublished stories and pictures that help the readers understand Korea’s economic and diplomatic
Nov. 2, 2015
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Hanwha Q Cells to build new solar plant in Texas
Hanwha Q Cells USA Corp. said Monday it will start construction of a new 170-megawatt solar plant in the United States after sealing a power purchase agreement with Texas-based Austin Energy. The upcoming solar plant will be built on roughly 580,000 square meters of land in western Texas to generate enough electricity to supply around 1 million people, according to Hanwha. The 10.86MWdc Maywood Solar Farm built by Hanwha Q Cells in Indianapolis (Hanwha Q Cells) Austin Energy said it will purcha
Nov. 2, 2015
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AmorePacific in controversy over ‘inappropriate job interview question’
South Korean cosmetics giant AmorePacific Group has been embroiled in a controversy over political questions asked during job interviews.An anonymous interviewee, who recently failed the final interview for the firm’s internship with guaranteed employment, wrote online that he was asked to talk about his opinion on the government’s attempts to reintroduce state-authored history textbooks. The history textbook issue has become a particularly sensitive one in Korea with the progressives and conse
Nov. 2, 2015
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Hyundai Motor's Oct. sales grow 6.3%
Hyundai Motor Co., South Korea's top automaker, said Monday that its October sales grew 6.3 percent on-year, driven by robust domestic demand. Hyundai Motor said in a press release that it sold a total of 458,375 vehicles in October, up from 431,087 units a year before. Domestic sales jumped 16.7 percent to 67,807 units and overseas shipments also gained 4.7 percent to 390,568 units. The Avante subcompact maintained the best-selling status among Hyundai Motor models in the domestic market, wi
Nov. 2, 2015
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Kia Motors' Oct. sales soar 16.1%
Kia Motors Corp., South Korea's No. 2 automaker, said Monday that its sales jumped 16.1 percent in October from a year earlier on the popularity of its new models. Kia sold a total of 268,954 vehicles last month, compared with 231,706 units a year earlier, the company said in a regulatory filing. Domestic sales soared 25.9 percent to 46,605 units, and overseas shipments climbed 14.2 percent to 222,349 units. The growth in the sales was attributed to the popularity of the all-new Sportage SUV,
Nov. 2, 2015
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GM Korea's sales up 2.2 % in Oct.
GM Korea Co., the local unit of U.S. carmaker General Motors Co., said Monday that its sales in October grew 2.2 percent from the previous year amid strong domestic demand. The carmaker's total sales for last month came to 54,671 units, up from 53,503 units posted a year earlier, the company said in a press release. Its domestic sales came to 14,675 units, up 8.6 percent from a year earlier, while overseas shipments stayed unchanged on-year at 39,996 units. The carmaker attributed strong
Nov. 2, 2015
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Ssangyong Motor's Oct. sales soar 16.3%
Ssangyong Motor Co., the local unit of Indian auto conglomerate Mahindra & Mahindra Ltd., said Monday that its sales shot up 16.3 percent on-year in October as soaring sales at home helped offset plunging exports. Ssangyong Motor sold 13,359 units last month, up from the previous month's 11,490 units, the company said in a press release. The figures do not include complete knockdown kits that are assembled abroad. Overseas shipments nosedived 44.5 percent to 3,351 units over the cited perio
Nov. 2, 2015
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Renault Samsung Oct. sales shrink 9.3%
Renault Samsung Motors Co., the local unit of French auto firm Renault S.A., said Monday that its October sales shrank 9.3 percent on-year mainly due to slumping demand in China. The automaker said in a press release that it sold a total of 19,935 units last month, down from the 21,980 units tallied a year earlier. Exports dropped 11.6 percent on-year to 12,924 units. The company ascribed the decline to less demand from China, though it did not provide a breakdown of exports. Domestic sales
Nov. 2, 2015
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Number of firms on antitrust watch list falls in Nov.
The number of business group affiliates subject to restrictions on mutual investments and loan guarantees fell by 22 in November from a month earlier, the antitrust watchdog said Monday. The Fair Trade Commission said the number of firms on its watch list came in at 1,656 as of Sunday, down from 1,678 on Oct. 1. Nine conglomerate affiliates were added, while 31 were removed.All the companies belong to the country's 61 largest business groups. A total of nine business groups, including Korea El
Nov. 2, 2015
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SK Telecom's Q3 net dips 28%
SK Telecom Co., South Korea's top mobile carrier, said Monday its third-quarter net profit sank 28.1 percent from a year earlier due largely to a government-led discount policy for mobile phone users. Net income reached 381.8 billion won ($334.6 million) in the July-September period, compared with 531 billion won the previous year, the company said in a regulatory filing. Operating profit fell 8.6 percent on-year to 490.6 billion won, with sales also dropping 2.4 percent to 4.26 trillion won
Nov. 2, 2015
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Sept. retail sales hit 4-month high on tax cuts, Chuseok
South Korea's retail sales rose to a 4-month high in September as tax cuts and the Chuseok holiday propped up consumer spending, a government report showed Monday. Retail sales topped 31.13 trillion won ($27.28 billion) in September, up 4.1 percent from 29.9 trillion won a year earlier and the highest amount since May, according to the report by Statistics Korea. The number also represents a 5.7 percent increase from 29.45 trillion won reached in August. The on-year gain is the highest reac
Nov. 2, 2015
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SK Telecom to buy top cable TV provider
SK Telecom Co., South Korea's top mobile carrier, said Monday it will acquire the country's biggest provider of cable channels and Internet TV as part of a push into the media platform business. SK Telecom will take over a 30 percent stake for 500 billion won ($438.2 million) in CJ Hellovision from its parent firm CJ O Shopping, the mobile carrier said in a statement. The decision was made at a board meeting held earlier in the day, SK Telecom said, adding that it plans to buy the remaining
Nov. 2, 2015