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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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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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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Seoulites celebrate coexistence at Wellness Seoul 2024
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Ex-president's daughter investigated for drunk driving accident
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Yoon honors veterans of Korean War in trip to Philippines
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'Culinary Class Wars' producers deny trying to spice up results
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Asiana gives PCs to Chinese school
Asiana Airlines, Korea’s second-largest carrier, has formed a sisterhood relationship with an elementary school in China as part of its corporate social responsibility efforts, the firm said Wednesday. “‘The Beautiful classroom’ project is focusing on helping Chinese students to make their dreams and hopes come true by supporting the schools in need,” said Ahn Byeong-seog, president of the China regional headquarters of the airline. The carrier donated nine air conditioners, 10 computers and a w
Sept. 16, 2015
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KT&G’s cigarette exports surpass 500b sticks
KT&G staffers consult buyers at InterTabac, the world’s leading trade fair for tobacco products and smoking accessories, in Dortmund, Germany. (KT&G)KT&G said Wednesday that its outbound sales of cigarettes broke the 500-billion-unit mark, fanning expectations that the cigarette-maker’s export sales will outperform its domestic sales within the year. According to KT&G’s cigarette sales data, its outbound sales volume reached 500.2 billion cigarettes as of Sept. 15. Counting in the cigarettes pr
Sept. 16, 2015
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Postal CEOs discuss role in digital era
Postal CEOs from the Asia-Pacific region discussed their future role and cooperation at the first regional forum in Seoul on Tuesday, organizers said.The Korea Post said participants in the Asia-Pacific Post CEO Forum agreed that post offices should remain leading socially valuable organizations in the digital age today, as they have been for the past century.They also agreed that post offices should react proactively toward the international e-commerce market and seek collaboration with various
Sept. 16, 2015
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SK Networks denies Coway buyout rumor
SK Networks has denied reports that it will bid to buy Korean water and air purifier-maker Coway, a deal valued at about 3 trillion won ($2.5 billion).“We have received a teaser letter sent en bloc by Coway’s biggest shareholder MBK Partners to potential buyers. But we have no plan to join the bid,” SK Networks said Wednesday.MBK Partners, the largest shareholder of Coway with a 30.9 percent stake, in August hired U.S. investment bank Goldman Sachs to broker the sale.As to separate speculation t
Sept. 16, 2015
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Chaebol children own shares worth close to W100b
Underaged children of the families of South Korea’s large business conglomerates own close to 100 billion won ($84.78 million) in shares, according to data by the Fair Trade Commission on Wednesday. A total of 39 minors who are directly related to the owners of 15 conglomerates held stakes in their affiliates as of 2014, according to data provided by the FTC to Rep. Shin Hak-yong of the New Politics Alliance for Democracy. (123rf) Their total shares were valued at 96.2 billion won ($81.5 millio
Sept. 16, 2015
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Hyundai Engineering wins US$74 mln order from Philippines
South Korean construction firm Hyundai Engineering Co. said Wednesday it has clinched a $74 million order to build a power plant in the Philippines. Under the deal signed with Energy Development Corporation, the No. 1 geothermal energy producer in the Philippines, Hyundai Engineering will build a 31-megawatt geothermal power plant on the island of Luzon in the Southeast Asian country. Construction is to be completed within 25 months after breaking ground. The South Korean company, which is held
Sept. 16, 2015
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Air Busan adds flights on Japan routes
Air Busan, Korea’s No.3 low-cost carrier by revenue, is aggressively expanding routes to Japan by increasing services to Fukuoka, Osaka and Sapporo, the firm said Tuesday. By Oct. 25, Asiana Airlines’ budget subsidiary will begin operating four daily flights between Busan and Fukuoka, the carrier’s first international route which started with one flight a day in 2010. “It is the first time for an airline to offer services for the same international route four times a day since Gimhae airport ope
Sept. 16, 2015
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[SUPER RICH] Superrich who help refugees
Refugees from Africa and the Middle East have been crossing the Mediterranean by boat to escape war and oppression in their home countries, with many risking death in the process, as boats sink in rough waters.According to the International Organization for Migration, around 350,000 refugees have crossed the Mediterranean and landed in Europe this year, and around 2,640 people have died during the journey.In response, several billionaires have stepped in to help the refugees and ease the situati
Sept. 15, 2015
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Coupang CEO skips parliamentary hearing over basketball injury
On Monday, Coupang president and CEO Kim Bom skipped the hottest business event of the week ― the National Assembly’s annual audit into governmental and corporate affairs. His fellow social commerce leaders, such as WeMakePrice CEO Park Eun-sang and Ticket Monster CEO Daniel Shin, showed up to face questioning by lawmakers about alleged unfair business practices by their companies. Other industry bigwigs, such as CEOs of Samsung, SK, E-Land and Lotte affiliates and many others were also present,
Sept. 15, 2015
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Fortune list includes female chiefs of Hyundai, Hotel Shilla, IBK
Hyundai Group chairwoman Hyun Jeong-eun has been listed as one of “The Most Powerful Women of Asia-Pacific” by Fortune magazine for two years in a row, company officials said Tuesday.The list also includes Hotel Shilla president Lee Boo-jin and Kwon Seon-joo, CEO of the Industrial Bank of Korea.Fortune said it selected Hyun as she leads Hyundai Group, which it described as “a complex empire of 20 affiliated, family-controlled companies.” Hyun Jeong-eun Lee Boo-jin Kwon Seon-jooIt also noted her
Sept. 15, 2015
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DSME gives up on plan to move into Magok factory complex
Daewoo Shipbuilding & Marine Engineering has called off its plan to move into Magok Industrial Complex in Gangseo District, western Seoul, which is expected to become the largest R&D complex in South Korea. The shipbuilder, which recorded a record operating loss of 3.17 trillion won ($2.68 billion) in the second quarter, took the decision to maximize liquidity amid the financial crisis, according to reports. The shipbuilder initially planned to invest 700 billion won to build a global shipbuildi
Sept. 15, 2015
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OCI constructs first solar plant in China
OCI, a South Korea-based chemical company, has finished constructing its first solar plant in Jiaxing, China, accelerating its push into the country’s fast-growing photovoltaic power generation business. The firm held a ceremony Monday to mark the completion of the new 2.5 megawatts PV solar power plant, having invested a total of $3.35 million, according to OCI. OCI CEO Lee Woo-hyun (second from left) examines the company’s newly-constructed solar plant located on the rooftop of the CMAG compa
Sept. 15, 2015
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Hyundai Motor to hire 6,000 subcontractors full time
Hyundai Motor, South Korea’s biggest automaker, announced Monday a plan to hire 6,000 temporary subcontractor workers as permanent employees by 2017, in a bid to end controversy over the company’s labor practices. After agreeing to promote 4,000 subcontractor workers to regular positions last year, the company management and the heads of the related labor unions agreed to hire 2,000 more by 2017. Hyundai Motor management strikes an agreement with related labor unions in Seoul on Monday to hire
Sept. 15, 2015
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[Photo News] BASF Korea supports chemistry education for kids
CHEMISTRY FOR KIDS -- BASF Korea managing director Shin Woo-sung (left) participates in the BASF Kid’s Lab, an interactive chemistry education program for children led by the chemical company, in Ulsan on Tuesday. The education program aims to raise children’s interest in science and help them understand the importance of chemistry in their daily lives. Since the program’s foundation in 1997, more than 90,000 children around the world have participated, including 3,400 in Korea since 2003. (BASF
Sept. 15, 2015
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Samsung may cut 1,000 jobs in China amid weak smartphone sales: reports
Global smartphone leader Samsung Electronics Co. is likely to eliminate 1,000 jobs in China, Chinese media reports said Tuesday, as sales of smartphones in the country become saturated. The possible job cut would affect about 9 percent of Samsung's workforce in China, said reports by Chinese media, including the state-run China Daily newspaper. Samsung Electronics in Seoul declined to provide details on the issue, adding it cannot comment on workforce-related policies.The reports cited unidentif
Sept. 15, 2015
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Louis Vuitton tops Incheon duty-free sales
Louis Vuitton is the best-selling brand at Incheon International Airport’s duty-free stores, data showed Monday. The French luxury brand sold items worth 73.2 billion won ($61.8 million) last year at its boutique at The Shilla Duty Free center, which is the brand’s first airport store in the world, having opened in 2011. It marks the third consecutive year that the brand ranked as the most popular brand by sales. Sales of Louis Vuitton in Korea, however, declined from 102 billion won in 2012 to
Sept. 14, 2015
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Lawmaker slams unethical behavior among Korea Airports Corp. officials
Over 30 officials at the state-run Korea Airports Corp. have been punished for incidents including sexual harassment and corruption since 2013, an opposition lawmaker said Monday. According to data provided by the KAC to Rep. Kang Dong-won of the main opposition New Politics Alliance for Democracy, 31 officials faced disciplinary actions for two years, with six of them dismissed. Despite being led by Kim Seok-gi, a former police executive and current president of the KAC, the firm has faced a st
Sept. 14, 2015
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SK eyes Japanese firms as models for reform
SK Group appears to be benchmarking big Japanese firms for reshaping its business after chairman Chey Tae-won’s return to management last month. SK Group focused on Toyota, Shinetsu, JX Nippon Oil & Energy and other Japanese companies’ cases of successful business reshuffles, in a company newsletter published Friday. The newsletter is the first to be issued since Chey’s return, and is seen as an indicator of the business empire’s future reforms. Chey was behind bars for three years on embezzlem
Sept. 14, 2015
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Han Sung Motor’s public art program changes Guro scenery
On the evening of Sept. 9, the usually crowded plaza in front of Guro Digital Complex Station became a festival venue. The cradle of Korea’s modern textile industry had become a run-down neighborhood after the country was reformed into a heavy industry-oriented, and then again to a technology-focused, economy, but on this day, the virtue of textiles and labor was celebrated highly. Han Sung Motor CEO Ulf Ausprung (center) poses with the “Dream Gream” members and other participants of the “City
Sept. 14, 2015
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Mobile carriers bag over 9 tln won in net profit since 2010: data
Major mobile carriers in South Korea have reaped more than 9 trillion won ($7.6 billion) in net profit over the past five years, parliamentary data showed Monday. The cumulative net profit of the three telecom companies -- SK Telecom, KT Corp. and LG Uplus Inc. -- came to 9.6 trillion won from 2010-2014, with their combined revenue reaching 209.1 trillion won in the cited period, according to data submitted to a lawmaker for a parliamentary audit, which took place earlier in the day. Of the net
Sept. 14, 2015