Most Popular
-
1
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
2
Can Jennie break the K-pop solo artist slump?
-
3
Yoon set for talks with Marcos in Philippines
-
4
Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
-
5
'Culinary Class Wars' producers deny trying to spice up results
-
6
Ex-president's daughter investigated for drunk driving accident
-
7
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
8
Seoulites celebrate coexistence at Wellness Seoul 2024
-
9
First lady’s Dior bag scandal to be at center of Assembly audit
-
10
Yoon honors veterans of Korean War in trip to Philippines
-
Construction of Geoje-Changwon undersea tunnel begins
The Korea Gas Corp. has embarked on its construction of a new undersea tunnel connecting Geojedo Island to Jinhae, South Gyeongsang Province, as part of its project to expand natural gas supplies delivered from the mainland to Geoje.The tunnel, to be built roughly 100 meters below the seabed, will house a 7.8-kilometer pipeline that will carry natural gas from Jinhae, a district in Changwon City, to the island. The gas company began drilling a 4.3 kilometer-long tunnel in Geoje bound for Jinhae
April 5, 2015
-
(Photo News) Cherry Blossoms
April 5, 2015
-
Smaller Korean cosmetics firms seek listing
Several smaller cosmetics companies are seeking to list their shares on the local stock markets backed by growing popularity of their products abroad, market watchers said Sunday.Tonymoly Co., a budget cosmetics maker, applied for a preliminary application to list its shares on the country's main bourse last week to help make inroads into overseas markets, including China, with potential proceeds, according to market watchers.The company, which was set up in 2006, posted a net profit of 11.6 bil
April 5, 2015
-
E-commerce market beats offline retailers in 2014: data
South Korea's online commercial transactions outpaced those of other retailers for the first time in 2014 as online shopping malls and social commerce operators continued to grow rapidly, data showed Sunday. The total amount of online and mobile transactions in the country, including purchases made directly through overseas online shopping malls, came to 46.9 trillion won ($42.92 billion) last year, exceeding the 46.64 trillion won tallied for offline retail services, according to the data from
April 5, 2015
-
SUV, minivan sales jump in Q1: data
Sales of SUVs and minivans surged greatly in South Korea during the first quarter of 2015 from a year earlier amid the continued popularity of leisure-oriented cars, data showed Sunday.A total of 108,904 of the units were sold during the January-March period, up 22.1 percent from what was sold a year earlier, according to sales data of five carmakers in South Korea. As many as 279,844 commercial vehicles were sold over the cited period, and SUV and minivan sales accounted for 38.9 percent, the h
April 5, 2015
-
Conglomerates spend more on R&D, intellectual property in 2014: report
South Korea's top conglomerates spent more on research and development and intellectual property to seek new growth engines in 2014, while cutting back on facility-related investments, a report showed Sunday.A total of 274 firms belonging to the country's 30 largest business groups injected 35.31 trillion won ($32.31 billion) into R&D for the whole of 2014, up 1.6 percent from the year before, according to the report by CEO Score, a local corporate researcher.The amount for intangible asset-rela
April 5, 2015
-
S. Korean shipbuilders win most new orders in Q1: data
South Korean shipbuilders nudged out their Japanese and Chinese rivals in winning new orders in the first quarter of 2015, as overseas competitors were hit even harder by the overall slump in the shipbuilding industry, data showed Sunday. For the January-March period, South Korean shipbuilders ranked No. 1, followed by Japanese and Chinese companies, according to the data compiled by global market researcher Clarkson Research Services.The latest result marks the first time that local players her
April 5, 2015
-
Samsung may help Apple get rid of a $533 million verdict
Samsung Electronics Co. may end up saving arch nemesis Apple Inc. about $533 million.That's how much Apple was told to pay after a jury in February said its iTunes service infringed patents owned by Texas licensing firm Smartflash LLC.This week, Samsung, which is being sued over the same technology, convinced U.S. regulators to review whether two of Smartflash’s patents should have been issued in the first place.If a review board at the U.S. Patent and Trademark Office tosses those patents, it w
April 4, 2015
-
Kumho Tire co-CEOs resign three days after appointment
Kumho Tire co-CEO Park Se-chang officially stepped down from his post Friday after its major creditors demanded his resignation, citing procedural problems in his appointment. Park’s resignation came just three days after the company’s board of directors approved his promotion from senior vice president to CEO.Another new co-CEO Lee Han-seop was removed from his post for similar reasons. The company, an affiliate of Kumho Asiana Group led by group chairman Park Sam-koo, now has only two CEOs inc
April 3, 2015
-
Lotte founder’s granddaughter returns
The nation’s top chaebol tycoons are banking on their daughters to lead their conglomerates’ hotel businesses overseas.Lotte Group founder and general chairman Shin Kyuk-ho recently positioned his granddaughter Chang Seon-yoon to lead Lotte Hotel’s overseas expansion efforts. The move comes at a time when Lotte’s rival Hotel Shilla, led by Lee Boo-jin, the eldest daughter of Samsung chairman Lee Kun-hee, is actively seeking market expansion overseas. Lotte Hotel senior executive Chang Seon-yoon
April 3, 2015
-
Hyundai Rotem starts work on Brazil plant
Representatives from Hyundai Rotem and Sao Paulo City officials in Brazil attend a ceremony to begin construction of a plant to manufacture trains in the Brazilian city on Thursday. Photo credit: Yonhap
April 3, 2015
-
S. Korean firms pin hopes on lifting of Iran sanctions
South Korean companies, led by construction firms, are expecting to find more business opportunities in Iran on hopes that economic sanctions on Tehran may be lifted in the coming months, industry sources said Friday.On Thursday, the United States and five other Western powers reached a tentative agreement which will lift crippling economic sanctions against Tehran. If the deal is ratified before July, economic sanctions on the oil-rich country will be lifted, providing a slew of business deals
April 3, 2015
-
KB’s financial education draws positive response
KB Financial Group is focusing on financial education as part of its social philanthropy, with its affiliates and KB Financial Foundation carrying out financial education sessions for the general public since 2012.Their sessions include an education program for elementary, middle and high school students, where lecturers teach students finance and economy by visiting their schools or the local children’s center, according to group officials. The program has taught 245,000 students till 2014, and
April 2, 2015
-
Hyundai Heavy under tax probe
Tax authorities in Korea are investigating Hyundai Heavy Industries amid speculation that the nation’s largest shipbuilder might have been involved in illegal overseas fund transactions. The NTS and the company confirmed Thursday that auditors from the Seoul and Busan regional tax offices have started investigating records at the company’s headquarters in Ulsan. “We are fully cooperating with the agency for the routine investigation,” the company said. But it dismissed the speculation, saying it
April 2, 2015
-
Ssangyong Motor seeks to strengthen foothold in stable overseas markets
Ssangyong Motor Co., the smallest carmaker in South Korea, will push to strengthen its foothold in Europe and other "stable" foreign countries as part of efforts to shield itself from economic and political ups and downs in its export markets, the company head said Thursday.Choi Johng-sik, CEO and president of Ssangyong Motor, also said that the company will seek to build overseas production lines should the need arise, but its immediate task is to ramp up a mere 60 percent production ratio to t
April 2, 2015
-
Hyundai, Kia enjoy strong U.S. sales in March
Hyundai Motor Group, the world's No. 5 auto giant, said Thursday that its sales in the United States jumped in March on aggressive marketing and a recovery in the world's largest economy, with its flagship Hyundai Motor Co. setting a monthly sales record.Hyundai Motor sold 75,019 units in the U.S. last month, its largest monthly tally ever. The March figure also represents a whopping 12 percent rise from a year earlier, the automotive group said.The sharp rise in U.S. sales was driven by strong
April 2, 2015
-
Major automakers to vie for spotlight at Seoul Motor Show
South Korean and foreign automakers will showcase their new vehicles and concept cars at this year's Seoul Motor Show that will officially kick off Friday, with an aim to leave a strong impression on potential buyers.A total of 32 brands will put 370 cars on display during the event to be held until April 12 under the theme of "Experience the Technology, Feel the Artistry" at the Korea International Exhibition Center in Ilsan, just north of Seoul.Five automakers based in South Korea will also jo
April 2, 2015
-
Southwest gets faster rail service
A new high-speed KTX train service that links Seoul and the nation’s southwestern region was launched Wednesday, amid anticipation that it will help balance development between the regions with shortened traveling times.The Korea Train Express Honam will travel up to 300 kilometers per hour, cutting the fastest journey time between Seoul’s Yongsan station and Gwangju, 350 kilometers southwest of Seoul, from 157 minutes to 93 minutes.“The opening of the Honam high speed line will mark a milestone
April 1, 2015
-
Saudi oil tycoons to explore ties with Korea
Saudi Arabia will seek to strengthen cooperation with South Korea when its top government and business leaders visit Seoul later this month, industry sources said Wednesday.Sources said the Saudi oil minister and top executives of Saudi Aramco, the world’s biggest oil exporter, will meet Korean officials and industry leaders to discuss bilateral cooperation in the energy sector.The Saudi delegation includes Saudi Arabia’s Minister of Petroleum and Mineral Resources Ali Al-Naimi and Aramco presid
April 1, 2015
-
Korea tightens cockpit rules after Alps crash
Korean airplanes will have two crew members in their cockpit after a German plane crashed in the French Alps last week, officials in Seoul said Wednesday.The Transport Ministry said it revised an aviation security-related rule so that two people must be present in the cockpit at all times. If one of the pilots were to temporarily leave the cockpit, a flight attendant must take their place for the interim period, according to officials.Five out of seven major Korean airliners have expressed their
April 1, 2015