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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Volkswagen to recall 28,000 cars due to possible air bag malfunction
Volkswagen Korea is expected to voluntarily recall about 28,000 cars earlier next year due to a defective part that could cause the air bags to malfunction, industry sources said Monday. The local unit of German auto giant Volkswagen recently submitted its recall plans to the transportation ministry here, in which it promised to fix the problem for its seven brands being sold in South Korea. The brands subject to the recall include the Golf, the Jetta, the Passat and the Tiguan that were manuf
Nov. 2, 2015
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Government to cut credit card fees for smaller merchants
The government said Monday that it will lower credit card fees for mom-and-pop grocery stores and restaurant owners next year in a bid to ease their financial burdens. The Financial Services Commission and the ruling Saenuri party decided to set credit card commission rates imposed on small businesses with annual sales of 200 million won ($176,000) or less at 0.8 percent from next year, down from the current 1.5 percent. Tariffs on mid-sized merchants with 2 to 3 billion won in sales will go d
Nov. 2, 2015
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Exports log worst fall in six years
Korea’s exports recorded $43.47 billion in October, down 15.8 percent from a year earlier to mark the sharpest fall in six years, the Trade Ministry said Sunday. But ministry officials said monthly trade managed to post a surplus as imports on-year dropped 16.6 percent to $36.78 billion. October marked the 10th consecutive straight month of export contraction and the 45th straight month of trade surplus. The officials attributed the fall in exports to continued weak global demand and drops in
Nov. 1, 2015
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Chinese P.M. seeks model for shared growth with Korea
Chinese Premier Li Keqiang, who met with the heads of South Korea’s business leaders in Seoul on Sunday, said China will seek models for shared economic growth with Korea. His remark came in a time when South Korea waits for an approval of the Korea-China free trade agreement by the National Assembly within this year. Organized by the Korea Chamber of Commerce and Industries, the meeting brought together some 200 Korean business officials -- including KCCI and Doosan Group chairman Park Yong-ma
Nov. 1, 2015
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Samsung affiliates share value surges 38 tln won in one month: data
The combined aggregate value of affiliates belonging to Samsung Group, South Korea's largest family-run conglomerate, surged 38 trillion won ($33.3 billion) in the past month, helped by so-called earning surprises in the third quarter, market data showed Sunday.According to market researcher FN Guide, six out of 11 listed Samsung affiliates exceeded earnings expectations. Of these, four posted "earning surprises," in which their profits exceeded forecasts by more than 10 percent.Operating profit
Nov. 1, 2015
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Korean shipbuilders to undergo restructuring to cope with market downturn
South Korean shipbuilders are expected to engage in painful restructuring efforts starting this month as they struggle to cope with the present market downturn, industry watchers said Sunday. The restructuring that will affect Hyundai Heavy Industries Co., Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering Co., as well as many smaller sized companies, could result in the streamlining of operations, and the laying off of some 10,000 workers in the next two to three years.The la
Nov. 1, 2015
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[Photo News] S-Oil provides heat for low-income households
HEAT FOR LOW-INCOME HOUSEHOLDS — S-Oil CEO Nasser Al-Mahasher (second from left) and company officials deliver 50,000 coal briquettes to low-income households and senior citizens living alone in Seoul, Thursday. Since 2008, the oil refiner has been delivering coal to underprivileged citizens in the winter as part of its “Coal Briquette of Love Program.” (S-Oil)
Oct. 31, 2015
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Chanel hikes handbag prices
The Chanel 2.55 medium size bag. Chanel.comFrench luxury fashion house Chanel on Friday announced a hike in the price of its iconic handbags by up to 7 percent in Korea starting Nov. 1, in order to “be on par with Chanel prices globally.”The notoriously reclusive brand said it would readjust the price tags twice a year ― which analysts say could lead to an unstable future for the bags that are often used for “investment purposes” in Korea. According to Chanel Korea, the items subject to the pric
Oct. 30, 2015
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KT, Korean Air, CJ chosen for ministry drone test project
The government said Friday that it has selected 15 consortia and four sites to conduct the country’s first aerial drone test scheme in a bid to verify the safety of drone use for land surveillance, safety inspection and package delivery purposes. The pilot project’s goal is to examine the commercial potential of drones and set up safety standards to make the technology viable, according to the Ministry of Land, Infrastructure and Transport.“The drone test project will be accelerated as the parti
Oct. 30, 2015
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Bank account switching system sees 1st day rush
The bank account switching system was inundated with requests when it opened Friday.Customers of 16 major local banks can now log onto the Pay Info webpage (www.payinfo.or.kr) between 9 a.m. and 5 p.m. with their electronic authorization certificate and transfer the automatic payment settings of their former account to a new one with just a few clicks.Previously, customers had to contact every institution where they registered their automatic bank payments and change or cancel each setting.Autho
Oct. 30, 2015
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[Photo News] For close trade partnership
FOR CLOSE TRADE PARTNERSHIP -- Korea’s Minister of Trade, Industry and Energy Yoon Sang-jick (right) shakes hands with Japanese Minister of Economy Motoo Hayashi at their regular meeting for close trade ties at a hotel in Seoul on Friday. (Yonhap)
Oct. 30, 2015
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Chanel pushes handbag prices hike
French luxury fashion house Chanel on Friday announced a hike in the price of its iconic handbags by up to 7 percent in Korea starting Nov. 1, in order to “be on par with Chanel prices globally.”The notoriously reclusive brand said it would readjust the price tags twice a year -- which analysts say could lead to an unstable future for the bags that are often used for “investment purposes” in Korea. According to Chanel Korea, the items subject to the price hike include the Boy Chanel small size -
Oct. 30, 2015
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KT, Korean Air, CJ Korea Express picked for drone test project
The government said Friday that it has selected 15 consortia and four sites to conduct the country’s first aerial drone test scheme in a bid to verify the safety of drone use for land surveillance, safety inspection and package delivery purposes. The pilot project’s goal is to examine the commercial potential of drones and set up safety standards to make the technology viable, according to the Ministry of Land, Infrastructure and Transport.“The drone test project will be accelerated as the parti
Oct. 30, 2015
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Bank account switching sees first day rush
The bank account switching system started off with a bang on Friday.Customers of 16 major local banks can now log onto the Pay Info webpage (www.payinfo.or.kr) between 9 a.m. and 5 p.m. with their electronic authorization certificate and transfer automatic payment settings of their former account to a new one with just a few clicks.Previously, customers had to contact every institution where they registered their automatic bank payments and change or cancel each setting.Authorities expect the sw
Oct. 30, 2015
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Daewoo Ship rises after creditors pledge to provide funding
Daewoo Shipbuilding & Marine Engineering Co., the world's second-biggest shipyard, rose the most in two months in Seoul trading on expectations creditors?plan to provide 4.2 trillion won ($3.7 billion) in funds will help ease concerns about its cash position.Shares of Daewoo Shipbuilding jumped as much as 8.5 percent, the biggest intraday gain since Aug. 25, to 7,400 won and traded at 7,050 won as of 9:56 a.m. in Seoul. The stock has fallen 62 percent this year after reporting big losses due to
Oct. 30, 2015
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[Advertising Award] IFEZ emerges as a global city
Industry Awards / Investment AttractionIncheon Free Economic Zone Authority The Incheon Free Economic Zone started as one of Korea’s free economic zones, and became a global city and key location for driving Korea’s economic growth. The accumulated amount of foreign direct investment, which began at $1 million, totaled $6.78 billion as of September. A total of 13 international organizations, including the Green Climate Fund and the World Bank Korea Office, have also moved to the IFEZ, and it has
Oct. 30, 2015
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[Advertising Award] Light up world with cables: LS
Industry Awards / Cable & SystemLS Cable & System As the flagship affiliate of LS Group, the power cable company has committed to building communications and power infrastructure across the world under the vision of “One world with power lines.” The company’s core business helps the economic development of a nation by improving the circulation of information and power delivery. LS Cable & System, founded in 1962, has advanced into one of the world’s best power cable suppliers in a half centur
Oct. 30, 2015
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[Advertising Award] SK Broadband prioritizes customer satisfaction
Industry Awards / TelecommunicationSK Broadband SK Broadband has always been at the forefront of technology trends, being the first in the world to commercialize high-speed Internet ADSL in 1999, and the first in Korea to establish an IPTV service in 2006. On the basis of our management policy that gives priority to enhancing customer value, SK Broadband is making its best efforts to bring happiness and value to them in an era of convergence. Yang Seung-cheon, Head of marketing strategy HQFor t
Oct. 30, 2015
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Samsung continues drive to streamline businesses
Samsung Group has decided to sell its affiliate’s stake in chemical units to Lotte Chemical, an apparent move to focus on its flagship businesses including information technology and electronics.In separate regulatory filings on Friday, the group’s affiliates -- including Samsung Electronics, Samsung SDI, Samsung C&T, Samsung Electro-Mechanics and Hotel Shilla -- said they would sell off their entire stake, totaling 31.5 percent and valued at 470 billion won ($412 million), in Samsung Fine Chemi
Oct. 30, 2015
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[Advertising Award] Shinhan Card strives for better customer services
Industry Awards / Credit CardShinhan Card Shinhan Card, as the No. 1 credit card firm in market share with the number of customers reaching 22 million, is continuously trying to offer customers better services despite the rapidly changing business environment. In the fintech segment, in particular, Shinhan has been making full-fledged efforts to improve customer convenience, as it recently set up a mobile-based ecology in which 3.5 million customers spend more than 300 billion-won ($270 million)
Oct. 30, 2015