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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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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Lotte brothers bicker over founder's office
The two sons of the Lotte Group founder once again clashed over control of the main office of their father, Lotte general chairman Shin Kyuk-ho, Tuesday, as a bitter fraternal battle over ownership of the South Korean retail giant continues to escalate. Lotte Group, led by younger son Shin Dong-bin, demanded that SDJ Corporation, a company established and led by older son and former vice chairman of Lotte Holdings Shin Dong-joo, step out of the general chairman’s office, located on the 34th flo
Oct. 20, 2015
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GS Home Shopping launches Chinese channel in Malaysia
GS Home Shopping, a major South Korean home shopping operator, said Tuesday it has added a Chinese-language shopping channel in Malaysia to target deep-pocketed consumers in the Southeast Asian nation.The retail unit of GS Group joined hands with Astro Malaysia Holdings, a local broadcaster, to launch a shopping channel called "Go Shop" in January to target 4.6 million households in Malaysia. GS Home Shopping said it decided to open the Chinese-language channel to better woo Malaysians of Chines
Oct. 20, 2015
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Korea to miss tourism targets due to MERS
The South Korean tourism industry is expected to take a severe heat from the Middle East Respiratory Syndrome outbreak this year, as foreigners shunned the nation during the summer season following the first case in late May, data showed Tuesday. The number of inbound travelers is expected to drop 4.6-9.6 percent on-year in 2015, causing a loss in the country's tourism revenue, which will range from 881.5 billion ($784.6 million) to 1.9 trillion won, according to data by the Korea Culture & Tour
Oct. 20, 2015
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Lotte Group refuses to report to elder son
Lotte Group has officially rejected the request of former vice chairman of Lotte Holdings Shin Dong-joo to begin sending him business reports on its core affiliates, dismissing the move as “lacking legal grounds.” The elder son of the group founder is engaged in a bitter feud with his younger brother, Lotte Group chairman Dong-bin, over control of the group since he was ousted from key posts at its Japanese units in January. Lotte Group founder and general chairman Shin Kyuk-ho (left) and his
Oct. 19, 2015
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[Science Summit] SK Group widens business scope in global partnerships
SK Group is looking to bolster its core businesses and seek new growth by actively pursuing global expansion in partnerships with major companies from around the world. Faced with unfavorable market conditions and stagnant growth, SK has pledged to overcome such economic hurdles by stepping up its efforts to widen its presence in overseas markets this year.Participants celebrate the completion of SABIC SK Nexlene’s new polyethylene plant in a ceremony at the plant site in Ulsan on Wednesday. Fr
Oct. 19, 2015
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[Science Summit] SK Group boosts nation’s creative economy drive
SK Group has been stepping up its efforts to support the growth of new venture firms in the field of information and communications technology as part of its aim to support South Korea’s ongoing drive to establish a creative economy. In collaboration with the Ministry of Science, ICT and Future Planning, the group operates two provincial Creative Economy Innovation Centers, one in Daejeon and another in Sejong.Venture firms participating in SK’s Dream Venture Star program at the Daejeon Creativ
Oct. 19, 2015
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Gov't, Samsung to back development of manufacturing robots
South Korea's government said Monday that it will join forces with Samsung Electronics Co. to develop precision manufacturing robots that could open new horizons for the local manufacturing sector.The plan calls for 16.75 billion won ($14.8 million) worth of taxpayers' money to be invested in the next three years to develop key components that can allow more robotic parts to be made in the country and lower overall prices of industrial machines, the Ministry of Trade, Industry and Energy said.De
Oct. 19, 2015
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S-Oil suffers loss in Q3 on slumping refinery biz
S-Oil Corp., South Korea's third-largest refiner, said Monday that it logged a loss in the third quarter of the year, hit by a slump in its refining business.The net loss came in at 46.7 billion won ($41.3 million) in the July-September period, narrowing from a loss of 109 billion won a year earlier, S-Oil said in a regulatory filing.Sales declined 39 percent on-year to 4.43 trillion won, while operating profit swung to a profit of 12.4 billion won from an operating loss of 38.3 billion won, the
Oct. 19, 2015
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LG Nexus to go on sale this week
LG Electronics Inc., South Korea's No. 2 smartphone maker, said Monday its latest handset jointly manufactured with Google Inc. will hit local stores this week. The Nexus X5 will be available for purchase starting Tuesday via three local mobile carriers here, for a price of 508,200 won ($449) for 16GB and 568,700 won for 32GB, LG Electronics said in a statement. The company said it comes in two colors for Korean consumers: carbon (black) and quartz (white). The Seoul release is part of Google's
Oct. 19, 2015
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Hyundai to release subcompact hybrid EVs next year
Hyundai Motor Co., South Korea's top automaker, plans to launch subcompact hybrid electric vehicles next year to target the global market with eco-friendly cars, industry sources said Monday. Hyundai has been developing the hatchback subcompact hybrid model under the name AE, which is designed to improve fuel efficiency by combining a 1.6-liter gasoline engine and an electric motor, according to company officials. Kia Motors Corp., its smaller affiliate, also plans to launch the same platform un
Oct. 19, 2015
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Kia's European sales hit record high in Q3
Kia Motors Corp., South Korea's No.2 automaker, saw its sales in Europe hit a record high for the third quarter, driven by strong demand for its SUV and customized compact sedan, data showed Monday.According to the data compiled by the European Automobile Manufacturers' Association, Kia Motors sold a total of 95,102 units in the European market in the July-September period, up 9.7 percent from a year earlier.The figure marks the highest for the third quarter. In September alone, Kia sold 39,923
Oct. 19, 2015
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(Photo News) Asiana Airlines' social contribution
Asiana Airlines CEO Kim Soo-cheon (second from left) participates in a rice reaping event with the flag carrier employees and residents at a farm village in Hongcheon, Gangwon Province, Saturday. (Asiana Airlines)
Oct. 18, 2015
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Generics thrive in Korean pharmaceuticals market
When the patent for U.S.-based Eli Lilly’s blockbuster erectile dysfunction treatment drug Cialis (tadalafil) expired in South Korea early last month, 60 domestic pharmaceutical companies immediately rolled out more than 150 cheaper, generic copies of the drug. About a month has since passed, and data shows that generics launched by Hanmi Pharmaceutical and Chong Kun Dang Pharm have risen above their competition to take the lead in the segment, shaking up the market previously dominated by Cial
Oct. 18, 2015
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LG starts sale of portable Bluetooth keyboard
LG Electronics Inc. said Sunday it has begun selling its latest Bluetooth-powered keyboard that works on tablet PCs with excellent power efficiency.The Rolly Keyboard, which boasts improved portability compared to other Bluetooth keyboards in the market as it can be "rolled up" on a rectangular stick, will come with a price tag of 129,000 won ($113.10).LG said users are able to use the keyboard for three months without having to replace the battery. The instrument operates on just one triple-A b
Oct. 18, 2015
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[Photo News] AmorePacific launches breast cancer awareness marathon
AMORE BREAST CANCER AWARENESS CAMPAIGN — AmorePacific, in partnership with the Korea Breast Cancer Foundation, kicked off the 2015 Pink Ribbon Love Seoul Marathon in western Seoul on Sunday. Attended by some 10,000 participants this year, the event aims to spread awareness on breast cancer -- the most common form of cancer among women -- and raise funds for low-income breast cancer patients. (AmorePacific)
Oct. 18, 2015
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Mobile carriers to start preorders for iPhone 6s
South Korea's three mobile carriers plan to start preorders for the latest iPhone 6s and iPhone 6s Plus this week, industry sources said Sunday, a move that may cause a dent in sales of high-end models from local brands Samsung and LG.SK Telecom Co., KT Corp., and LG Uplus will begin preorders Monday, ahead of the official release slated for Friday at both online and offline shops.While the mobile carriers earlier planned to start preorders last week, the launch was delayed. Some market watchers
Oct. 18, 2015
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[Photo News] Lotte brothers clash over control of father's office
SDJ Corporation chairman Shin Dong-joo, who is in a feud with his younger brother and Lotte Group chairman Dong-bin, enters Lotte Hotel to take claim of control over their father’s office, located on the 34th floor of the hotel, Friday. Yonhap
Oct. 16, 2015
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Shinsegae Duty Free enters Chinese Market
Shinsegae DF, the duty-free arm of the county’s second-largest retailer Shinsegae, reached an agreement with a duty-free store in Hainan, China to supply Korean products for five years, the firm said Friday. This is the first time for the company to enter the Chinese market since Shinsegae DF was established in April this year. The exclusive contract was made prior to the opening of the Hainan Provincial Duty Free Co.’s new shopping mall at Mission Hills Resort in Haikou, Hainan Island, set to l
Oct. 16, 2015
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[Weekender] Bicycles become pricier, fancier
Korea’s bicycle industry is changing. As a growing number of upper-income professionals pick the two-wheelers to commute to work, enjoy it as healthy hobby and, moreover, express themselves, the premium bicycle market is booming, driving the whole industry forward. According to market analysts, 30-40 year old professionals have become major consumers of the local bike industry, which is estimated at 550 billion won ($487 million) in size this year. It’s a big change from the past when the maj
Oct. 16, 2015
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S-Oil CEO receives honor for contribution to economy
S-Oil CEO Nasser Al-Mahasher received the Gold Tower Order of Industrial Service Merit in Seoul Thursday, the highest honor in the field awarded by the South Korean government for his notable contribution to the national economy. The S-Oil chief was honored for his part in securing 4.8 trillion won ($4.24 billion) in investment from its parent company Saudi Aramco this year and pushing it to acquire additional stakes worth around $1.84 billion in the Korean refiner, S-Oil said. S-Oil CEO Nasser
Oct. 16, 2015