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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Ex-president's daughter investigated for drunk driving accident
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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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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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Queer fest seeks corporate support
The 16th annual Korea Queer Festival is nearing to an end amid apparently growing awareness.“Many did not know about the festival at all, and only got to know last year when some people opposed it,” said Woo Ji-young, secretary-general of KQCF. More and more people, including foreign diplomats, have been participating in the event, the organizer said. In spite of this trend, however, many local companies are hesitant to join the event, and the organizers would like to see that change in the near
June 26, 2015
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KOGAS sales rise on overseas projects
The state-run Korea Gas Corp. posted 10.2 trillion won ($9.2 billion) in sales in the first quarter of this year, an 18.4 percent increase compared to the same period last year.According to its business report, KOGAS’ quarterly profits reached 865.4 billion won, a 20 percent increase from a year earlier, largely thanks to an increase in its overseas business.KOGAS also reported an increase in investment returns by 82.2 billion won, as well as a net profit of 581.2 billion won, a 37.6 percent inc
June 26, 2015
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Korean street food spreads to rest of Asia
The rapid globalization of Korean food has extended to street food, widening the scope of Korean exports of farmed goods and food throughout Asia. With the rising popularity of Korean culture, travel and food, the nation is seeing a growing number of foreign visitors who have already tried out authentic street foods like tteokbokki and hotteok. “A country’s street food fully reflects its unique culture and trends, not to mention affordable prices, making significant channels to raise the foreign
June 26, 2015
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Shareholders approve merger of 2 SK firms
Shareholders of SK Holdings and SK C&C on Friday approved the proposed merger between the two companies, paving the way for SK Group, the nation’s third-largest conglomerate, to streamline its business structure and reportedly strengthen the influence of the de facto owner family that includes group chairman Chey Tae-won. Following the approval, a new entity ― retaining the name SK Holdings ― is set to be launched on Aug. 1. Its asset value is estimated to reach 13.2 trillion won ($12 billion).
June 26, 2015
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S. Korea to resume Dutch poultry imports next month
South Korea will lift its six-month ban on imports of poultry from the Netherlands as no additional outbreaks of avian influenza (AI) have occurred there since the measure was imposed late last year, the agriculture ministry said Friday.The imports are set to resume next month, as soon as it has been agreed that there are no contradicting opinions from related agencies or specialists that say otherwise, according to the Ministry of Agriculture, Food and Rural Affairs.Seoul had discontinued impor
June 26, 2015
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Hyundai Heavy launches low-carbon hotel
Hyundai Heavy Industries is opening a new hotel in Gangneung, Gangwon Province, aiming to become a landmark for the 2018 PyeongChang Winter Olympics.The SEAMARQ hotel, to be launched on Friday, is designed by New York-based architect Richard Meier and built by Hyundai Engineering and Construction, the company said in a statement Thursday.The environmentally friendly building uses solar energy and geothermal heat to reduce environmental damage, according to the firm. The hotel was previously know
June 25, 2015
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[Best Brand] Branding strategy: Magic on top of logic
A “brand,” as we commonly know, includes a name, design, logo and sound that differentiates one corporation from another. To take McDonald’s as an example, they have their name, a cutely arched M-shaped logo, the red-haired Ronald McDonald and the famous jingle featured on television commercials. These qualities allow customers to differentiate McDonald’s from other fast food stores.But interpreting a brand as merely a name and an image is not enough. Three judges screen candidates for The Korea
June 25, 2015
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[Best Brand] Lotte Chilsung’s Icis 8.0 makes waves in water market
Icis 8.0 mineral water from Lotte Chilsung Beverage Co. is making a splash in the country’s tightly contested bottled water market. Launched in August 2011, Icis 8.0 has gained much popularity in a relatively short period of time, aided by the optimized mineral content and eye-catching packaging. The product is bottled in North Chungcheong Province with pH 8 natural mineral water, which the company says offers the optimal calcium-magnesium balance. In addition, the company has applied eco-friend
June 25, 2015
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[Best Brand] Chinese visitors take shine to Face Shop’s facial mask
South Korean budget makeup brand The Face Shop has drawn an increasing number of Chinese shoppers with its facial sheet masks as more Chinese opt for affordable and convenient skin care products. Amid the rapid growth of demand for the mask pack, the LG Household and Healthcare-owned brand rolled out the Character Mask, which has a print of an animal face on each sheet, in January. “The character mask has beenwell received by consumers both here and abroad as it not only delivers rich moisture t
June 25, 2015
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[Best Brand] IFEZ aims to be East Asian hub city
Songdo International City in IFEZThe Incheon Free Economic Zone is emerging as a global city, with 94 percent of foreign direct investment in eight free economic zones in Korea coming to the IFEZ. The free economic zone was started in 2003 to become a hub city in Northeast Asia, and has shown remarkable growth since. IFEZ has achieved its initial FDI goal of $1.7 billion, about 9 percent of the total FDI in South Korea ($19 billion) and a 2.5 percentage point increase from the previous year.IFEZ
June 25, 2015
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[Best Brand] Ottogi becomes Korea’s representative curry product
When asked to describe “Korean curry,” most South Koreans will likely mention the well-known Ottogi Curry at some point, testifying to the role that the Korean food brand Ottogi has played in introducing and popularizing curry across the country.Though curry was introduced to Korea in the 1940s, the Indian dish was only popularized decades later, when Ottogi entered the Korean food industry by launching its powder-type curry product in 1969, betting that Korean consumers would likely enjoy curry
June 25, 2015
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[Best Brand] Incheon Bridge establishes itself as metropolis’ key landmark
Incheon Bridge is renowned as one of Incheon’s key landmarks due to its high level of technical complexity as well as its aesthetics and economic value.Construction began on the Incheon Bridge in July 2005 and finished in October 2009. It cost a total of 2.45 trillion won ($2.21 billion) with 823 billion won in private funding and 1.63 trillion won in government funding.Incheon Bridge boasts a high level of safety as it was constructed to withstand earthquakes of up to magnitude-7.0 and other na
June 25, 2015
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MERS takes toll on airlines
The Middle East respiratory syndrome virus is hitting the local airline industry hard, forcing them to keep flights grounded. South Korea’s two major airlines and other five budget carriers have canceled a total of 1,102 international flights to and from the country scheduled from June 1 through October, a report from the Transport Ministry showed Thursday. (Yonhap)“The blow by MERS is much tougher than SARS. The second-quarter performance will likely sharply drop compared with last year or the
June 25, 2015
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DSME delays STX France bid
Daewoo Shipbuilding & Marine Engineering has put its plans to acquire STX France on the back burner, the shipbuilder’s CEO Jung Sung-leep said Thursday. DSME CEO Jung Sung-leep. DSMEDSME had considered acquiring 66 percent stake in STX France upon request by its largest shareholder, state-run Korea Development Bank. KDB, which is also STX Group’s main creditor, has been pushing to sell off STX France and STX Finland as part of its efforts to restructure the defunct shipbuilding conglomerate. Spe
June 25, 2015
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[Photo News] Good to Great
GOOD TO GREAT -- World-renowned barista Paul Bassett (sixth from left) poses with staff members of the newly opened branch of the Paul Bassett coffee chain in Hannam-dong, Seoul, Thursday. The coffee chain and its local partner Maeil Dairies launched a “value management” initiative to raise the bar in specialty coffee chain management in Korea. Paul Bassett
June 25, 2015
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KAI launches W1.6tr small copter project
Korea Aerospace Industries, the nation’s sole aircraft manufacturer, launched its 1.6 trillion won ($1.4 billion) worth small-size helicopter development project Thursday. An image of KAI’s light civil helicopter to be codeveloped with Airbus Helicopters by 2020 KAI“The Defense Acquisition Program Administration, the Ministry of Trade, Industry and Energy, KAI-led consortium and Airbus Helicopters agreed to jointly finance the project to develop light armed and light civil helicopters,’’ KAI sai
June 25, 2015
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[Graphic News] Population movement lowest in 40 years
The number of people who moved in May was the lowest in 40 years, data showed Wednesday.According to Statistic Korea, 606,000 people moved last month, a 1.2 percent decrease from the same time period last year.Data showed that this is the lowest number of people moving in May since 1975 (480,000 people).Experts suggest that the decrease in population movement is due to decreased domestic migration for school and work.A spokesperson from Statistics Korea said that different regions in Korea have
June 25, 2015
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KCCI to hold 40th Jeju Forum
The Korea Chamber of Commerce and Industry will hold its annual summer forum on Jejudo Island from July 22-25, inviting the CEOs of its member companies and their families to gain new insights from guest speakers from diverse industries.The four-day event will take place at The Shilla Jeju hotel and offer a diverse range of not just academic seminars, but also recreational programs, in line with this year’s theme of “Encounter between Insight and Healing”.A number of renowned figures from Korea
June 25, 2015
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S. Korea to ease rules to allow 4th mobile carrier
South Korea will unveil a package of deregulation measures for the country's mobile network market to facilitate the entry of a new player and give existing carriers more leeway, the government said Thursday.The local mobile market has long been dominated by three carriers -- SK Telecom Co., KT Corp. and LG Uplus Corp. The government turned down applications for a fourth player six times between 2010 and 2014."If a new business enters the market, it will spark competition, which will lead to a c
June 25, 2015
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S. Korean biz groups have 237 firms in tax havens
More than half of big business groups in South Korea have set up companies in overseas tax havens, with SK Group, the nation's third-largest conglomerate, having the most, data showed Thursday. Out of 61 business groups with combined assets of more than 5 trillion won ($4.5 billion), 33 owned a combined 237 subsidiaries in countries on the European Union's tax haven blacklist as of end-2014, according to the data compiled by corporate tracker Chaebul.com. The figure accounts for 7.5 percent of t
June 25, 2015