Most Popular
-
1
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
2
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
3
Yoon set for talks with Marcos in Philippines
-
4
Can Jennie break the K-pop solo artist slump?
-
5
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
6
First lady’s Dior bag scandal to be at center of Assembly audit
-
7
Yoon honors veterans of Korean War in trip to Philippines
-
8
Seoulites celebrate coexistence at Wellness Seoul 2024
-
9
'Culinary Class Wars' producers deny trying to spice up results
-
10
Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
-
Pernod-Ricard releases Imperial Neon
Pernod-Ricard Korea announced Tuesday the company’s release of “Imperial Neon.”Imperial Neon retains the value and quality of Scotch whisky, but has a smooth taste, responding to the demands for a smoother-tasting whisky, company officials said.The Scotch is infused with notes of apple, pear, golden honey and hazelnut, presenting a smoother texture suited to Koreans’ tastes.Company officials added that the product is suitable for both casual get-togethers and formal business meetings.“Neon” come
Oct. 27, 2015
-
Korean refiners’ 3Q profits diverge
As difficult market conditions persist amid sliding crude oil prices and volatile refining margins, South Korean refiners posted diverging performances in the third quarter due to differences in their operational strategies. Overturning market forecasts, SK Innovation, the country’s leading refiner, posted an operating profit of 363.9 billion won ($322.12 million) in the July-September period, up by 644 percent from the same period last year. A drilling machine extracts crude oil from an oil fi
Oct. 27, 2015
-
Nano convergence industry sales top 138 tln won in 2013: data
South Korea's nano convergence industry sales reached 138.69 trillion won ($122.63 billion) in 2013 as the country moves to build up the sector as a future economic growth engine, government data showed Tuesday.According to the Ministry of Trade, Industry and Energy, the combined sales of 541 local leading nanotech companies rose 6.6 percent on-year, with research and development investments surging 35.9 percent to 8.49 trillion won.The sales increase was in contrast to the minus 1 percent growt
Oct. 27, 2015
-
POSCO unit builds thermal power plant in Vietnam
POSCO Energy Co., a unit of South Korea's top steelmaker POSCO, said Tuesday that it has completed the construction of a thermal power plant in Vietnam.The coal-powered plant in Quang Ninh, some 200 kilometers north of Hanoi, has a power generation capacity of 1,120 MW.POSCO Energy said it plans to run the power plant along with U.S.-based energy firm AES Corp. for the next 25 years by investing $1.85 billion.It is Vietnam's first independent power plant, the company said.POSCO Energy started wo
Oct. 27, 2015
-
Major shipyards' losses from offshore plants to top 10 tln won
South Korea's major shipbuilders, led by Hyundai Heavy Industries Co., are expected to suffer up to 10 trillion won in losses from a delay in the construction of offshore facilities and a series of order cancellations amid concerns that they are struggling with money-losing projects and a decline in new orders, industry sources said Tuesday.The country's big three shipbuilders -- Hyundai Heavy, Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. -- have racked up a comb
Oct. 27, 2015
-
McDonald's opens soccer match
McDonald’s Korea managing director Joe Erlinger takes a ceremonial kick-off in the 2015 K League Classic of FC Seoul vs. Hyundai Motors held at the Seoul World Cup Stadium on Sunday. Children who participate in the Ronald McDonald Soccer Club, one of the company’s corporate social responsibility programs, escorted the players to the field for the match.(McDonald’s Korea)
Oct. 26, 2015
-
Lotte to set up firm to support start-ups
Lotte Group chairman Shin Dong-bin will offer 10 billion won ($9 million) from his personal fortune to set up an investment corporation designed to help young people start their own businesses, the company said Monday. The firm tentatively named “Lotte Accelerator” will support early-stage companies by providing direct investment and helping them sell their products and services through Lotte’s distribution channels as well as offering business consulting.“With Lotte Accelerator as the central p
Oct. 26, 2015
-
Doosan, Shinsegae lock horns over urban duty-free license
Retail giant Shinsegae and industrial behemoth Doosan Group on Monday locked horns over the special license to run three urban duty-free stores in Seoul. With the urban duty-free stores regarded as a lucrative business for the sluggish retail industry, the chiefs of both companies vowed to win the license that could guarantee trillions of won in revenue over the next 10 years. Doosan Group chairman Park Yong-maan (Yonhap) Doonsan Group chairman Park Yong-maan said he would fully leverage his 20
Oct. 26, 2015
-
Amway opens botanical research center in China
U.S.-based direct sales giant Amway opened the Amway Botanical Research Center in Wuxi, China, last Friday, as the company seeks to step up its research on herbs used in Oriental medicine for potential use in its health and beauty products. Built with an investment of $13 million and spanning across 34 hectares of farmland, the ABRC includes an advanced laboratory and a greenhouse to study soil nutrients and plant physiology which will potentially lead to new product development, according to A
Oct. 26, 2015
-
CJ Healthcare enters Chinese antiulcer treatment market
CJ Healthcare, the pharmaceuticals unit of South Korea’s CJ Group, is embarking onto China’s fast-growing antiulcer treatment market valued at an estimated 3 trillion won ($2.65 billion), through a major drug licensing deal with Shandong Luoxin Pharmaceutical Group. The Korean pharma firm said Sunday that it has sealed a license agreement in Shanghai with Luoxin Pharma to transfer the development and commercialization rights to CJ-12420, a drug to treat regurgitation gastritis and gastroesophage
Oct. 26, 2015
-
Estee Lauder to invest in Dr. Jart+
U.S.-based cosmetics giant The Estée Lauder Companies sealed a deal in New York on Sunday to invest in Have & Be Co., the South Korean company behind the fast-growing homegrown skin care brands Dr. Jart+ and Do The Right Thing. The terms of the investment -- to be made by December 2015 -- were not disclosed due to legal specifications, according to the firm’s spokesperson.The Estee Lauder Companies executive chairman William P. Lauder (right) signs an investment deal with Dr. Jart+ CEO Lee Jin
Oct. 26, 2015
-
Korea becomes first Asian country to successfully farm salmon
South Korea has become the first Asian country to successfully farm salmon throughout the year, which can help the country reduce imports and lead to exports down the road, the government said Monday.According to the Ministry of Oceans and Fisheries, Donghae STF Co., a local aquaculture firm, has been raising some 10,000 silver salmon at a special enclosure some 5 kilometers off the country's eastern coast since late last year. The enclosure system that has been patented can be moved up and down
Oct. 26, 2015
-
Koreans sue Volkswagen in U.S. over emissions scandal
Two South Korean Volkswagen owners said Monday that they have filed a class action lawsuit in the United States against the German carmaker over its emissions rigging scandal.“We have filed the suit because we were angry at Volkswagen,” said Yim Ye-won, one of the petitioners who owns the car. “We believe that there should be a heavy penalty for this act of fraud.” “The lawsuit was filed with a federal court in California,” said Jason Ha, a lawyer representing the two, adding that the clients ar
Oct. 26, 2015
-
Shinsegae, Doosan sweeten bids for duty-free licenses
Bidders for the country‘s duty-free licenses sweetened their offers Monday to pull ahead in the neck-in-neck competition as they battle with existing operators.Four companies have submitted bids for the operational licenses of three duty-free stores in Seoul, which are set to expire later this year. The result is slated for next month. Shinsegae’s duty-free unit said it plans to invest 53 billion won (US$46.8 million) in the next five years to create a “tourism cluster” in downtown Seoul and col
Oct. 26, 2015
-
Korea seeks partnership with Jamaica on infrastructure
South Korea said Monday it wants the country's firms to participate in Jamaica's major infrastructure projects. The Foreign Ministry plans to request the Jamaican government's support during a rare policy consultation meeting to be held in Kingston, the capital of the Caribbean nation, later this week.The two sides are scheduled to hold their first policy coordination meeting in eight years Tuesday."We plan to request the Jamaican government's interest and cooperation so that South Korean compan
Oct. 26, 2015
-
Korea's air passenger traffic grows 7.3 pct in Sept.
South Korea's air passenger traffic rose from a year earlier in September, fueled by the increased number of people taking both domestic and international flights, the government said Monday.In September, the country's overall air passenger traffic moved up a solid 7.3 percent on-year to 7.35 million, according to the Ministry of Land, Infrastructure and Transport.The number of international air passengers to and from South Korea gained 4.3 percent on-year to 4.93 million last month, marking a r
Oct. 26, 2015
-
Volvo, Ford, FCA to recall 10,197 cars in S. Korea
Volvo, Ford and Fiat Chrysler Automobiles will recall 10,197 cars sold in South Korea for safety-related mechanical defects, the transportation ministry said Monday.According to the Ministry of Land, Infrastructure and Transport, a combined 3,877 S80, S60, XC90, XC70 and V70 models made by the Swedish carmaker have problems with the upper part of the fuel pump section that can cause an oil leak and fire.The problem involves cars made from May 24, 2000 through Feb. 4, 2005.The ministry said Ford
Oct. 26, 2015
-
Top 3 shipbuilders to post W7tr losses
South Korea’s top three shipbuilders are expected to log their worst ever combined operating loss this year ― over 7 trillion won ($6.2 billion) ― due to mounting losses from offshore projects and falling global demand for ships, according to industry data Sunday. Industry data forecast a 7.4 trillion won deficit from the three leading firms ― Daewoo Shipbuilding and Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries ― by predicting an operating loss of 3 trillion won in t
Oct. 25, 2015
-
Hanwha Life trumpets education for staff
Hanwha Life is working to developing talent with a vision to become the “top insurance company in the world,” company officials said.Hanwha runs several programs to increase competitiveness of their employees, largely focused on developing their professional capabilities.Company officials said the firm offered systematic programs aimed at fostering business leaders, and also provided assistance for overseas MBA courses and evening courses at Korean universities to support the development of prof
Oct. 25, 2015
-
Major hotels probed for price-fixing
Korea’s state watchdog launched an investigation into an alleged price-fixing practice by the country’s high-end hotels, suspecting that it resulted in hikes in their room prices despite a stall in demand. Fair Trade Commission building in Sejong city. (Yonhap)According to news reports, the Fair Trade Commission recently requested the country’s so-called five-star hotels to report on their price-setting processes. FTC officials suspect that the hotels fixed prices in order to avoid undercutting
Oct. 25, 2015