Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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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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Yoon honors veterans of Korean War in trip to Philippines
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(Photo News) Launching new KTX line
President Park Geun-hye delivers a congratulatory speech at the launching ceremony of the new high-speed KTX Honam line at Songjeong Station in Gwangju on Wednesday. (Yonhap)
April 1, 2015
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S. Korean car sales grow 1.5 pct in March
Sales by automakers in South Korea grew in March for the first time this year, raising hopes that demand might be picking up both at home and abroad, industry data showed Wednesday.The combined sales of the five local automakers came to 801,997 units last month, up 1.5 percent from the previous year's 790,283, according to the data provided by each company. Their total domestic sales grew 4.8 percent to 127,216 units, with overseas shipments rising 0.8 percent to 674,781 units.This marked the fi
April 1, 2015
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Kia Motors' March sales gain 1.8 pct
Kia Motors Corp., South Korea's second-largest automaker, said Monday its sales gained 1.8 percent in March from a year earlier thanks in part to strong demand for its SUVs at home and abroad.Kia Motors said in a press release that it sold 276,656 cars last month, up from 271,710 vehicles a year earlier.Domestic sales jumped 8.5 percent on-year to 42,305 units, while overseas sales inched up 0.7 percent to 234,351 units over the same period. Kia Motors said that its domestic sales stayed strong
April 1, 2015
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LS Cable wins Irish cable contract
LS Cable & System, Korea’s largest power cable maker, said Tuesday it had secured the exclusive right to supply 220 kilovolt-power transmission cables to ESB Networks, an Irish national power company. “It is a meaningful contract because the Korean cable maker won the contract by defeating the European cable makers that had been dominating the market,” the company said in a press release. The four-year contract will expire in 2018, but includes renewable options.The cable to be supplied by LS C&
March 31, 2015
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[SUPER RICH] Superrich’s meetings with the president
Meeting the president is a pivotal moment for the superrich anywhere in the world. A look at various such meetings shows different moods and mannerisms of the superrich and presidents.In South Korea, meetings between the superrich and the president are considered a political and business assembly accompanying a meal.The president also invites the superrich based on their ranking ― such as the “top 20 businesses” ― rather than their field of business. Former President Kim Young-sam holds a dinner
March 31, 2015
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[SUPER RICH] Orion chairman seeks to reclaim past glory in Chinese film market
Showbox Mediaplex, the film-making arm of Orion Group, the nation’s second-biggest snack-maker, made headlines on March 25 when the company announced its expansion to China by signing an exclusive partnership with China’s leading entertainment giant Huayi Brothers.The news once again brought the limelight to the business group’s chairman Tam Chul-kon as the Chinese-Korean is apparently hoping to recreate his “rags-to-riches legend” once again and take the faltering conglomerate back to its glory
March 31, 2015
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Samsung C&T faces Vietnamese investigation
Samsung C&T is being probed by Vietnamese authorities over an accident at a construction site that left 13 workers dead and dozens injured, company officials said Tuesday.Vietnamese police banned several Samsung C&T employees from leaving the country amid an investigation into a scaffolding collapse that took place in the central province of Ha Tinh last week, the South Korean builder confirmed.“The company received a report on the travel ban from the Vietnamese police. We will cooperate fully w
March 31, 2015
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LS sets up day care center for employees
LS Group has set up a daycare center near the LS Tower in Anyang, Gyeonggi province, for group employees who are parents.The daycare center comprises 688 square meters across two levels. It has four classrooms based on age, as well as an indoor and outdoor playground. It plans to accept up to 75 children of employees working at the LS Tower between ages of 1 and 5. LS Group chairman Koo Ja-yol (center) poses with children at the LS day care center. (LS Group)The LS daycare center will operate f
March 31, 2015
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Herald Corp. marks 10 years of growth
Herald Corp., the publisher of The Korea Herald, on Tuesday paid out dividends of 500 won ($0.45) per share for the first time since the company was established.Under the management of Jungwook Hong, chairman of Herald Corp., Herald subsidiaries have been on a steady rise. Herald Square, the company’s headquarters in central Seoul. (Herald Corp.)In 2014, Herald’s core media businesses posted sales of 60.5 billion won and a net profit of 5 billion won. Including the company’s food and materials s
March 31, 2015
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KORAIL to launch Seoul-Pohang KTX
A new high-speed KTX train service connecting Seoul and Pohang in North Gyeongsang Province will launch Thursday, according to the Korea Railroad Corp.The new KTX train will transport passengers between Seoul and Pohang in roughly two hours and 30 minutes, cutting the travel time by train by more than three hours. Previously, it took passengers riding on the Saemaeul train five hours and 20 minutes to travel the same distance.The Seoul-Pohang KTX service, which has been launched as part of the G
March 31, 2015
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Hyundai Motor chief tops in executive pay ranking
Hyundai Motor Group chairman Chung Mong-koo topped in the nation’s 2014 executive pay ranking with a salary of 21.6 billion won ($20 million), according to a financial regulatory filing released on Tuesday.Chung received payment from the group’s four affiliates ― Hyundai Motor, Hyundai Steel, Hyundai Mobis and Hyundai Engineering & Construction ― where he served as a registered director in fiscal 2014. Chung Mong-kooShin Jong-kyun, CEO of
March 31, 2015
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Korean Air's brand value plunges after 'nut rage' incident
South Korea's No. 1 air carrier Korean Air Lines Co. saw its local brand value nosedive this year following last year's "nut rage" case that outraged the nation's public, a survey showed Tuesday.Brandstock, a South Korean market researcher that determines rankings of the top 100 local brands, said in its latest survey that Korean Air earned 860 points to stand at 45th place for the first quarter of this year, down from the No. 6 spot for all of 2014. "Even while taking into consideration the kin
March 31, 2015
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Samsung Electronics implements more flexible working hours
Global tech giant Samsung Electronics has begun granting its employees more flexibility in scheduling their work hours with an aim to promote a more creative and efficient office culture.(Yonhap)Starting from late March, all employees at Samsung Electronics, excluding factory workers at the production sites, are able to freely adjust their working hours. The only requirement is that they work at least four hours a day, and fill 40 hours each week.The new work policy goes a step further in granti
March 31, 2015
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Samsung, LG agree to end all legal disputes
South Korean tech giants Samsung Electronics Co. and LG Electronics Inc. announced Tuesday they have agreed to halt ongoing legal disputes, ending a years-long court battle over alleged technology theft and vandalism."(Samsung and LG) agreed to end all ongoing disputes to end tension," the two companies said in a joint statement. "We will also refrain from making more legal disputes and make efforts to settle issues through dialogue and consultation."Samsung and LG, as well as their affiliates,
March 31, 2015
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Korea's duty-free shop sales surge on increased tourists in 2014
South Korea's duty-free shop sales surged 21.6 percent on-year in 2014, the finance ministry said Tuesday, thanks to the steady rise in foreign travelers.Data sent by the ministry to the National Assembly showed sales by the 43 duty-free shops in the country hitting 8.3 trillion won ($7.5 billion) last year, up more than 1.5 trillion won from a little over 6.8 trillion won in 2013.It said of the total, sales of shops located in cities jumped 32.2 percent on-year while those in airports and seapo
March 31, 2015
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LG Chem to expand polarizer production in China
LG Chem Ltd., South Korea's leading chemical firm, said Tuesday it will invest $100 million to expand its polarizer production in the Chinese city of Nanjing in order to prepare for the fast growing display market there.A polarizer is a multilayered optical film used for transmitting light in thin film transistor liquid crystal display (TFT-LCD) modules, which are used in mobile gadgets, laptops and televisions. The expansion will increase LG Chem's annual production capacity to 54 million squar
March 31, 2015
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Cumulative U.S. sales of Hyundai, Kia top 15 mln units
South Korea's top automaker, Hyundai Motor Co., and its smaller affiliate, Kia Motors Corp., saw their combined sales in the United States top 15 million units over the past 29 years, data showed Tuesday. As of end-February, Hyundai Motor sold a cumulative 9.49 million units since it entered the U.S. market in 1986, according to industry data. Kia Motors has sold a total of 5.52 million of its cars since 1994. Among the models sold in the U.S., Hyundai Motor's flagship Sonata midsize sedan was t
March 31, 2015
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KKR likely to buy Ticket Monster for 350 bln won: sources
A U.S.-based multinational private equity firm is in talks to acquire a major stake in South Korea's No. 2 e-commerce company Ticket Monster Inc. for 350 billion won ($316.5 million), industry sources said Tuesday.KKR & Co. L.P. is in the final stage of negotiations with the local arm of Deutsche Bank AG, the sale manager of the deal, to take over a 51 percent stake in the daily deal site, according to the sources.KKR is said to have partnered with Hong Kong-based investment firm Anchor Equity P
March 31, 2015
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Ssangyong Motor begins overseas shipments of Tivoli
Ssangyong Motor Co., the smallest carmaker in South Korea, said Tuesday it has begun exporting its Tivoli SUV as the company hopes to repeat its strong domestic performance in overseas markets and expand its presence abroad.More than 2,000 units of the Tivoli are to be shipped to Europe and Latin American countries, with sales to begin in June, the carmaker said in a press release."We hope for a successful launching of the Tivoli overseas, and we will do our best to become a global SUV maker by
March 31, 2015
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LG beats Samsung in mid-sized panel market in Q4
South Korea's LG Display Co. saw its global market share of 9-inch and below display panels hover above that of its long-term rival Samsung Display Co. for the first time in the October-December period of 2014, data showed Tuesday, emerging as the world's No. 1 player.LG Display took up 18.7 percent of global small and mid-sized panel shipments in the fourth quarter of 2014, standing neck-and-neck with Japan Display Inc., which also held a 18.7 percent stake, the data compiled by market tracker
March 31, 2015