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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Ex-president's daughter investigated for drunk driving accident
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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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Hyundai Department Store opens in Pangyo
A number of global retail brands have opened up stores in the newly built Pangyo Hyundai Department Store in Seongnam, Gyeonggi Province, which held its grand opening Friday. Global apparel company Uniqlo, Switzerland-based coffee machine brand Nespresso, as well as Esteem -- a cafe which sells drinks from U.S. coffee brand Intelligentsia Coffee and France’s Palais de Thes -- are among some 900 shops housed inside the mega shopping mall. Uniqlo is holding opening day promotions from Friday to S
Aug. 20, 2015
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Lotte.com launches new Chinese app
Lotte.com, Lotte’s online retail presence, launched a new Chinese mobile shopping app Wednesday in an aim to offer optimized services to a growing number of online Chinese shoppers who purchase overseas merchandise. China.lotte.com is focused exclusively on customers in China, introducing new categories and services that go beyond those offered by Global.lotte.com. The new app offers three special service categories including a product lineup consisting of the popular items among Chinese custom
Aug. 20, 2015
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LG’s cosmetics unit introduces new cleansing products
LG Household & Health Care, a health care and beauty product company established by LG, has launched a set of new cleansing products that help cleanse and minimize pores. The newly-launched On The Body Sparkling Pore Detox line includes a foam cleanser, a pore massaging gel, bubble cleansing foam and cleansing water. The new products are all infused with all-natural carbonated water from Jejudo Island, known for its high mineral content and therapeutic properties that helps remove makeup and dir
Aug. 20, 2015
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Moleskin launches limited edition notebooks
Italian stationery brand Moleskin has released a set of limited edition notebooks inspired by Coca-Cola and jazz label Blue Note Records in South Korea. The Coca-Cola notebooks, which come in four options, were launched in celebration of the global beverage brand’s 100th anniversary. The notebooks’ covers feature uniquely designed bottles and include Coca-Cola-themed stickers. Created to mark the 75th anniversary of Blue Note, Moleskin’s Blue Note notebooks feature designs inspired by iconic jaz
Aug. 20, 2015
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Major shipbuilders dip to yearly lows amid dim outlook
South Korea's major shipbuilders, led by Hyundai Heavy Industries Co., hit yearly lows on Thursday as investors increasingly fret over their business outlook, analysts said.Hyundai Heavy, the No. 1 shipbuilder, closed at 88,300 won ($74.50) on the Seoul bourse, down 2.11 percent from the previous session's close.Samsung Heavy Industries Co. also suffered a 4.78-percent drop to 10,950 won, while Daewoo Shipbuilding & Marine Engineering Co. fell 0.5 percent to end at 5,970 won.The broader KOSPI in
Aug. 20, 2015
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Dongkuk Steel sees Q2 turnaround
Dongkuk Steel Mill, the country’s third-largest steelmaker, saw a turnaround in operating profits in the second quarter.The steelmaker said it posted 53.9 billion won ($45.5 million) in operating profits, up 9 percent from the same period last year. Net profit was 156.8 billion won in the April-June period, while it posted 1.49 trillion won in sales.“Sales of colored plates, cold-rolled steel products and steel rods were stable in the second quarter,” a Dongkuk spokesman told reporters. “The sal
Aug. 20, 2015
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Builders vow to stamp out bid rigging
South Korean builders Wednesday released a set of measures to root out the long-standing price-fixing practices, following the special presidential pardons received by some businessmen on the 70th anniversary of Korea’s liberation from Japan.Executives of 72 major construction firms that were under administrative restrictions due to bid rigging, pledged to step up their three-strike system to wipe out illegal practices and create a fair society. The Construction Association of Korea said the bui
Aug. 20, 2015
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Naver's messenger app operator pushes to nurture character biz
Line Corp., the Japanese subsidiary of South Korea's top portal provider Naver Corp., is expanding its global reach with its sticker character business as a new growth driver, in the hopes it will prop up weakening profits from its flagship messenger platform, industry sources said Thursday. Line, the operator of the mobile messenger app LINE, is opening a new Line Friends Store in Sendai next month, a major city north of Tokyo, according to the company. It is the second shop to be launched in J
Aug. 20, 2015
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Skoda likely to enter Korean market this year
Volkswagen Group’s popular brand Skoda Auto is set to launch in Korea as early as the end of the year, sources said. The arrival of the Czech brand, once dubbed the “poor man’s Porsche,” is expected to deal a blow to Hyundai Motor that is already suffering from plummeting global sales and the increasing competition from imported cars. “Volkswagen Korea has been discussing the details recently. This had been classified information among top management for months, but was recently made known to in
Aug. 19, 2015
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Lotte faces aftermath of succession war
Just a couple of days after its leadership was consolidated, Lotte Group is all-out to tackle the aftermath of an internal feud over the helm of the 90 trillion won ($76 billion)-business empire that has ignited regulatory action and public boycotts. Group chairman Shin Dong-bin tried to quell the furor with mitigating actions, including sparing billions of won from his pocket for corporate social responsibility programs, but this may fall short of easing public anxiety and anger against the re
Aug. 19, 2015
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Asiana Airlines adopts KakaoPay for ticket purchase
Asiana Airlines announced Tuesday that it had adopted the mobile payment service KakaoPay to allow customers to buy airline tickets.Anyone with the KakaoTalk mobile app can use KakaoPay without installing additional features, company officials said.Customers who wish to purchase airline tickets using the mobile app or the Web can now do so more conveniently by simply typing in a password that they set up through KakaoPay.Asiana Airlines added that as a promotional event for implementing KakaoPay
Aug. 19, 2015
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[Photo News] Mercedez-Benz Korea to hold circuit event
MERCEDES-AMG CIRCUIT DAY -- Mercedes-Benz Korea is holding an circuit event to offer Korean media a chance to drive its high-performance sub-brand AMG cars at the Yongin Speedway Circuit, Gyeonggi Province, Wednesday. The AMG cars in the circuit event include Mercedes-AMG GT S Edition 1 and the new Mercedes-AMG C 63. The company also will host the same event for 1,000 of its customers. Mercedez-Benz Korea.
Aug. 19, 2015
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Daewoo E&C wins Kuwaiti refinery bid
Daewoo Engineering and Construction recently won a contract as a consortium to construct new refinery facilities in Kuwait, company officials said.The consortium includes American engineering company Fluor and Hyundai Heavy Industries. They will construct Package Two and Package Three of the New Refinery Project, estimated to be worth $5.76 billion.Daewoo E&C will be in charge of engineering, procurement and construction with the other two companies and is expected to receive about a third of th
Aug. 19, 2015
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Innocean, Horizon partner to launch media agency
Innocean Worldwide, a South Korean marketing communications agency under Hyundai Motor Group, has partnered with U.S.-based private media agency giant Horizon Media to form new joint media agency Canvas Worldwide. Set to officially launch in September 2015, the joint venture was established with starting capital of 11.4 billion won ($9.6 million). Innocean will hold a 51 percent stake, while Horizon will hold the remaining 49 percent. Innocean said that Canvas Worldwide is expected to rack up $4
Aug. 19, 2015
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[Photo News] SK chairman visits SK hynix headquarters
SK CHIEF VISITS SK HYNIX -- SK Group chairman Chey Tae-won (second from left) visits the SK hynix headquarters in Icheon, Gyeonggi Province on Wednesday. The conglomerate is reportedly mulling plans to invest about 46 trillion won ($38 billion) over the next few years to expand the production facilities of its chip producing unit. (SK Group)
Aug. 19, 2015
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[Photo News] S-Oil aids disabled students
S-OIL AIDS DISABLED — S-Oil senior vice president Lee Chang-jae (left) delivers a customized study aid to a disabled student at the Gyeonggi Assistive Technology Research Assistance Center in Suwon, Gyeonggi Province, Wednesday. The firm handed over equipment worth 100 million won ($92,800) to 42 low-income disabled students on the same day, continuing its efforts to help disabled youths since 2010. (S-Oil)
Aug. 19, 2015
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Regulator gives final nod to KEB-Hana merger
South Korea's top financial regulator on Wednesday gave its final nod to a merger between Hana Financial Group Inc.'s flagship bank units -- Hana Bank and the Korea Exchange Bank, paving the way for the creation of the country's largest lender by assets.The integrated bank, named KEB Hana Bank, is scheduled to be launched in September upon the approval of the Financial Services Commission.The stock swap ratio for the merger was set at one Hana Bank share for 2.525 shares of the KEB."We will make
Aug. 19, 2015
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Lotte moves to list hotel affiliate
South Korean retail giant Lotte Group said Wednesday it plans to hire managers for a planned initial public offering of its hotel operator, Hotel Lotte, as part of a reform plan proposed by Chairman Shin Dong-bin to simplify its governance structure.Lotte will send out proposals to a slew of local and overseas brokerages, with short-listed candidates to be confirmed on Aug.31. The final list will be revealed in early September, the group said in a press release.Lotte, the country's fifth-largest
Aug. 19, 2015
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Prosecutors raid NH Development headquarters over alleged corruption
Prosecutors said Wednesday they have raided the offices of an affiliate of the National Agricultural Cooperative Federation over allegations that it created slush funds by exaggerating construction expenses. The Seoul Central District Prosecutor's Office said it has confiscated hard disks containing accounting books and contract documents of construction service provider NH Development Ltd., based in eastern Seoul. Prosecutors are investigating whether the company created slush funds with its b
Aug. 19, 2015
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Samsung, MIT find way to make batteries with 'indefinite' lifetime
The U.S.-based Massachusetts Institute of Technology and Samsung Group said Wednesday they have found a way to make batteries with an "indefinite" lifetime by replacing an existing liquid substance with a solid material.MIT and Samsung discovered that one of the three basic components of batteries, the electrolyte, could help extend the batteries' lifetime indefinitely, in theory, if it is changed to a solid state from the current liquid form.MIT said the findings will become a "game changer" fo
Aug. 19, 2015