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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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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'Culinary Class Wars' producers deny trying to spice up results
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Ex-president's daughter investigated for drunk driving accident
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Seoulites celebrate coexistence at Wellness Seoul 2024
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First lady’s Dior bag scandal to be at center of Assembly audit
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[Photo News] Starbucks' social contribution
April 23, 2015
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LF launches Raum Voyage travel brand
LF Corp. on Wednesday launched its travel-themed compilation brand store Raum Voyage and opened a flagship store on Rodeo Drive in Apgujeong-dong, southern Seoul.The Raum Voyage flagship store boasts an interior reminiscent of airport and train station terminals and seeks to provide a range of exotic products that bring joy in traveling to customers. Raum Voyage said that they target people in their 20s and 30s, and displayed brand products hailing from countries such as France, Italy, Denmark,
April 23, 2015
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KOGAS ranks top in security inspection
The state-run Korea Gas Corp. made remarkable achievements last year in its sales and preparedness for possible cyberterrorism, company officials said Thursday.In its report on the key achievements in 2014, the corporation said it posted a record net profit of 447 billion won.It also grabbed the first place in a security inspection by the government for its better preparation for possible cyberattacks. The company stated that it successfully hosted “Gastech 2014,” the largest international gas e
April 23, 2015
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Lawmakers, experts propose Intellectual Property Day
As the international community prepares to celebrate the 2015 World Intellectual Property Day on Sunday, South Korean lawmakers, intellectuals and high-level officials on Thursday vowed to step up efforts to strengthen IP protection by declaring the nation’s own inaugural Intellectual Property Day.The World Intellectual Property Association of Korean Practitioners, launched by the Science Ministry in 2013, held a ceremony at the National Assembly to establish this new day, which aims to promote
April 23, 2015
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S. Korea to lower hurdles for start-up bourse
South Korea's financial regulator said Thursday it will ease regulations on the country's third stock exchange next month, in a move to help bring in more retail investors and start-ups to the burgeoning bourse.In June 2013, the country launched the Korea New Exchange, a stock trading platform where start-ups and smaller firms can raise funds easily via stock sales instead of having to borrow from banks. Currently, 80 firms are traded on the KONEX, a sharp increase from 21 companies at its debut
April 23, 2015
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[Newsmaker] Gaffes, abuse shame Doosan Heavy chairman
“It is not good manners to not strike one’s neck when one has asked for it. I will strike in the most bloody and painful way possible.”The graphic comments are not threats by IS terrorists on YouTube videos. Instead, they are from Doosan Heavy Industries and Construction chairman Park Yong-sung, a business tycoon, in an email he sent to professors at Chung-Ang University in Seoul where he was serving as the board chairman. Park on Tuesday stepped down from all three posts after sparking controve
April 22, 2015
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Saudi Aramco board visits Hyundai Heavy, S-Oil
Board members of Saudi Aramco, the world’s largest crude oil exporter, visited Hyundai Heavy Industries’ headquarters and S-Oil’s refinery construction site, in Ulsan on Tuesday, according to reports.The delegation, including Saudi Arabia’s Oil Minister Ali Al-Naimi, Aramco CEO Khalid Al-Falih and nine other members of the board, arrived in Korea on Monday.During their trip to the world’s largest shipbuilder, they examined its offshore plant construction facilities, an engine factory and an area
April 22, 2015
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AIMS International appoints new Korea chief
AIMS International, a global search firm, has appointed David Lee as the new managing director of its Korean unit, the company said Wednesday.David Lee is a former senior consultant at Solution, and has had experience in sales in other companies such as Baskin Robbins, Christian Dior Cosmetic and LMVH P&C. David Lee. (AIMS International Korea)AIMS International is one of the top 10 search firms, with more than 350 consultants in over 90 offices across 50 countries. AIMS consultants across the wo
April 22, 2015
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Hanwha makes progress in solar biz
Hanwha Q Cells, a solar panel unit of Hanwha Group, has signed a 1 trillion won ($923.7 million) deal with Florida-based light company NextEra Energy to supply 1.5 gigawatts of solar panels, a record for a single contract in the domestic industry.The company will supply solar modules to NexEra’s solar plants under construction from the fourth quarter through the same period next year, the company said in a statement Monday. NextEra currently aims to build solar power plants with a capacity of 1.
April 21, 2015
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[SUPER RICH] Differing attitudes of two Chinese philanthropists
There are philanthropists who donate their wealth and wisdom with sincerity, and those who use it more as a huge marketing tool for their image. Two philanthropists in China are the perfect examples of both types of superrich.Aw Boon HawAw Boon HawAw Boon Haw (1882-1954) was an ethnic Chinese entrepreneur from Myanmar best known for introducing Tiger Balm, which his herbalist father first created.Aw moved across Asia expanding his Tiger Balm business along with his brother, and also founded 15 n
April 21, 2015
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[SUPER RICH] Friendship sustains Samchully through generations
The Fair Trade Commission’s annual announcement of business enterprises restricted of cross-ownership is both an honor and a bother for businessmen. Yoked on businesses with more than 5 trillion won ($4.8 billion) in assets, the designation is perceived as a restriction on their operations because it bans additional cross-shareholding and affiliates from guaranteeing debt among themselves, while prohibiting the company’s exercise of legitimate voting rights. Still, it is an acknowledgement of go
April 21, 2015
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Mohegan Sun eyes casino in Incheon
INCHEON ― Mohegan Sun, a casino and entertainment complex operator based in Uncasville, Connecticut, signed a memorandum of understanding with the Incheon International Airport Corp. on Tuesday for a resort development project on Yeongjongdo Island, Incheon, which is also home to the airport.Under the MOU, the company will invest in a two-phase development project in IIAC’s International Business Center II area, the airport operator said in a press release. The project, which will be completed b
April 21, 2015
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Korean LED firm lights up U.S. ballpark
At a U.S. major league baseball game Friday at Safeco Field, home to the Seattle Mariners, the CEO of a Korean wireless communications and LED firm threw the ceremonial opening pitch.Kim Duk-yong, the CEO of KMW, landed the rare pitching opportunity as the Korean firm recently took charge of Safeco Field’s revamp ― replacing metal halide lights with LED lighting throughout the stadium. KMW CEO Kim Duk-yong (center) poses at Safeco Field in Seattle.Safeco Field is now officially the first U.S. m
April 21, 2015
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Shinsegae establishes duty-free business firm
Shinsegae Group on Tuesday announced it has established Shinsegae DF, a duty-free arm of the county’s second-largest retailer. The Shinsegae DF will work on setting up an urban duty-free store in central Seoul, bidding for which will start in June. The company’s duty-free business was previously under Westin Chosun, a hotel unit under Shinsegae, and the newly-established firm will be headed by the hotel CEO Sung Young-mok. “We want to nurture the duty-free business that has a huge potential. We
April 21, 2015
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POSCO profits decline in Q1
POSCO, South Korea’s top steelmaker, reported Tuesday a drop in profit in the first quarter of this year, adding to signs of stress in the steel industry and disruption from the prosecution’s slush fund probe.POSCO posted 731 billion won ($675 million) in operating profit during the period, a slight 0.04 percent decline from the 731.3 billion won reported last year. The figure compares to market expectations that it would record at least 849 billion won in profit, the largest first quarter profi
April 21, 2015
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Korea removed from EU illegal fishing list
The European Union has removed South Korea from its preliminary list of illegal fishing countries, the Ministery of Oceans and Fisheries said Tuesday. “The ministry will thoroughly administer to ensure that illegal fishing activities do not cause any international distrust and concern again,” said Vice Minister Kim Young-suk.Korea was placed on a blacklist that names nations for illegal, unreported and unregulated fishing, or IUU, in 2013 after the EU detected Korean vessels operating illegally
April 21, 2015
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Shinsegae joins race for new downtown duty-free shops in Seoul
Shinsegae Co., a South Korean retail conglomerate, said Tuesday it plans to set up a new unit for duty-free shop operations, joining the race to win a bid to run new duty-free stores in downtown Seoul.Hotel Shilla Co., a major hotel chain and duty-free shop operator, and other existing duty-free shop operators already have announced their intent to bid for an operational license for new downtown duty-free shops in Seoul.The bidding is slated for June this year, with two conglomerates and one mid
April 21, 2015
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Shares of CJ CGV up ahead of 'Avengers' 2 release
Shares of CJ CGV Co., South Korea's largest cinema chain, have shot up this month as keen attention to an "Avengers" sequel, a new blockbuster Hollywood movie, raises hopes for earnings ahead of its release this week, analysts said Tuesday. "Avengers 2: Age of Ultron" is under the spotlight here as it was partly filmed in the capital, Seoul, in April last year, drawing thousands of fans during last week's preview event and having more than 90 percent of tickets booked for the first day of the fi
April 21, 2015
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Can oil refiners recover this year?
South Korea’s major oil corporations were pushed to cut wages and downsize their workforce last year, company data showed, after companies endured one of the most difficult fiscal years in the industry, which saw crude oil prices plunge to record lows.In 2014, the country’s top oil refiner SK Innovation recorded a deficit for the first time in 37 years, while GS Caltex and S-Oil both recorded their largest operating losses to date, according to the companies’ annual business reports released in
April 20, 2015
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AmorePacific shares continue to soar
The share price of South Korean cosmetics giant AmorePacific topped 4 million won ($3,690) on Monday, making it the seventh-largest company in terms of market capitalization.The shares traded at a 52-week high price of 4.03 million won in the morning, and ended the day at 3,903,000 won. KDB Daewoo Securities raised its target sale price on the cosmetics maker to 5.4 million won from 3.1 million won, citing its ability to lead global trends and capacity to develop new products.“There’s a high pos
April 20, 2015