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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Yoon set for talks with Marcos in Philippines
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Can Jennie break the K-pop solo artist slump?
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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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Yoon honors veterans of Korean War in trip to Philippines
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Seoulites celebrate coexistence at Wellness Seoul 2024
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[KH Explains] Can G-Star level up?
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[Lee Kyong-hee] Tone-deaf first lady causes chaos
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[Monitor] Korea sees first on-year decline in corporate employment
The number of corporate employees in South Korea dropped on-year for the first time last month, according to data by the Ministry of Employment and Labor. Hit hard by the economic impact of the coronavirus outbreak, local business entities with at least one employee had 18,278,000 employees as of the last working day of March. It marked a decrease by 1.2 percent from 18,503,000 recorded a year earlier. It is the first on-year drop of the figure since the ministry began collecting relevant dat
April 30, 2020
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Megabox to reopen 11 theaters on eased social distancing
Megabox, a South Korean multiplex operator, said Thursday that it will reopen 11 theaters this week after shutting them down for about a month due to the novel coronavirus. Its cinemas, including those in Pohang, Daegu, Daejeon and Ulsan, will resume operations from Friday, according to the company. Megabox, one of the three biggest theater chains, along with CGV and Lotte Cinema, has closed 11 out of 44 branches across the country since the end of March, citing a sharp drop in demand. With
April 30, 2020
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‘Itaewon Class’ collaborates with Nexon shooting game ‘Sudden Attack’
Nexon Korea is upping its game by bringing actors and actresses who starred in “Itaewon Class” -- a webcomic-turned-TV drama -- into first-person shooter game Sudden Attack. Nexon Korea said Wednesday it has introduced game characters modeled on Park Seo-joon, Yoo Jae-myung, Kim Dong-hee, Kim Da-mi and Kwon Nara, who play Park Sae-ro-yi, Jang Dae-hee, Jang Geun-soo, Jo Yi-seo and Oh Soo-ah in “Itaewon Class,” respectively. The final episode of “Itaewon Class&r
April 29, 2020
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Government sends cargo flights for exports to China, Indonesia
The South Korean government said Wednesday it had arranged two chartered cargo flights to help businesses facing difficulties in sending or receiving deliveries to and from China and Indonesia. The flights were each assigned for delivery to Chongquig in China and Jakarta in Indonesia, the routes of which have been disrupted amidst the coronavirus outbreak. The measure was jointly prepared by the Ministry of Trade, Industry and Energy and the Korea International Trade Association. The roundt
April 29, 2020
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Hyundai Mobis establishes second R&D facility in India for self-driving cars
Auto parts maker Hyundai Mobis said Wednesday its second research and development center in India has begun full operation, working on the development of automotive software for driverless vehicles. According to Hyundai Mobis, the second R&D center has been established in a new IT industrial complex adjacent to the company’s existing R&D center in Hyderabad, India, to focus on the development of a control system for self-driving cars and recognition algorithms for sensor techno
April 29, 2020
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SK Innovation injects $727m for second EV battery plant in US
South Korea’s SK Innovation said Tuesday it will invest $727 million for the construction of its second battery plant in Georgia. The battery maker will begin construction of its second electric vehicle battery plant with 11.7-gigawatt-hour capacity in Georgia in July and initiate mass production starting 2023, it said. “While the global community faces challenging times, SK Innovation believes it is important to continue making strategic investments to drive economic growth and
April 29, 2020
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LG Electronics files suit against home appliance firm Beko
LG Electronics said Wednesday it has filed a lawsuit against Turkish home appliance maker Beko over allegedly infringing on an LG Electronics patent related to its laundry machine. The complaints were filed Monday with the Mannheim District Court in Germany, claiming that the subsidiary of Turkey’s largest consumer electronics company Arcelik has infringed on the patent related to its TrueSteam technology. According to LG Electronics, the Turkish home appliance firm has made unauthoriz
April 29, 2020
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KAI donates 10,000 test kits to Indonesia
Korea Aerospace Industries said Wednesday it has donated 10,000 coronavirus test kits to Indonesia as a sign of solidarity amid the global pandemic. The defense company and Daewoo Shipbuilding & Marine Engineering together donated 10,000 coronavirus test kits to Indonesia, which was the first export destination of KAI’s KT-1 and T-50 trainer aircraft. Also, it is the first country DSME exported submarines to. “Korea and Indonesia maintain an amicable relationship in various
April 29, 2020
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[Graphic News] Exports of coronavirus test kits jump this month
South Korea’s exports of coronavirus test kits jumped on-year in the first 20 days of this month, data showed. Exports of test kits stood at $131.9 million in the 20-day period, compared with $7.25 million for the same period last year, according to the data from the Korea Customs Service. So far this year, Korea has exported test kits to a total of 106 nations. Brazil, the top buyer, imported $19.2 million worth of test kits from Korea. Next were the United States and Italy.
April 29, 2020
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Samsung expects weak results after solid Q1 performance on chip biz
Samsung Electronics Co. on Wednesday delivered a solid first-quarter earnings performance on the back of its chip business despite the coronavirus outbreak, but the company expected its bottom line to go down in the current quarter as the pandemic will significantly affect demand for some of its key products. The world's leading memory chip and smartphone manufacturer said its operating income increased 3.43 percent on-year to 6.4 trillion won ($5.2 billion) in the January-March period, and sa
April 29, 2020
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SK Innovation to build 2nd EV battery plant in US
SK Innovation Co., South Korea's leading refiner and chemical company, said Tuesday that it will invest $727 million in building its second electric vehicle (EV) battery plant in the United States. The investment in SK Battery America, which is wholly owned by SK Innovation, is meant to further boost production of EV batteries to meet soaring demand for all-electric vehicles amid a global push for zero emissions. The EV battery market has been on a roll as automakers around the world race to
April 28, 2020
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Hyosung to build world’s largest liquid hydrogen plant in Ulsan
South Korean textile and chemical conglomerate Hyosung Group announced Tuesday its plan to build the world’s largest liquid hydrogen plant in Ulsan in cooperation with global chemical company Linde. Hyosung Group’s Chairman Cho Hyun-joon and Linde Korea’s Sung Baek-seok signed a memorandum Tuesday, agreeing to invest 300 billion won ($244 million) until 2022, to establish a comprehensive value chain for liquid hydrogen production, delivery and facility operation. The two co
April 28, 2020
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[Feature] Coronavirus gives bargaining power to EV battery makers
The novel coronavirus outbreak has disrupted the power dynamics of the trade relationship between European automakers and South Korean battery makers, according to industry sources and market watchers. Though electric vehicle battery manufacturers are typically in a position to lure orders from automakers, the recent shortage of battery supplies exacerbated by the coronavirus outbreak has given Korean battery giants -- LG Chem, Samsung SDI and SK Innovation -- more bargaining power at the neg
April 28, 2020
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LG Chem goes into black in Q1 on improved core business performance
South Korean chemical and battery firm LG Chem on Tuesday reported a swing to operating profit of 236.5 billion won ($192.7 million) in the first quarter by minimizing losses in its battery business. The Korean battery manufacturer cut its operating loss in the battery business by 80 percent to 51.8 billion won in the first quarter from 249.6 billion in the fourth quarter last year despite factory shutdowns from automaker clients amid the coronavirus epidemic. “Though the effects of
April 28, 2020
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[Photo News] SK Group Chairman gives pep talk to coronavirus vaccine team from distance
SK Group Chairman Chey Tae-won took to an online video meeting encourage SK Bioscience’s scientists working on a SARS-CoV-2 vaccine, the group said Tuesday. “All this attention directed on the vaccine development may come across as a burden, but don’t let that deter you from making your best efforts,” Chey told the researchers. In order to develop a vaccine, SK Bioscience scientists are travelling to areas with high numbers of confirmed COVID-19 patients. SK Bioscience
April 28, 2020
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KGCCI calls for applications for innovation awards
The Korean-German Chamber of Commerce and Industry is calling for innovative companies in Korea to apply for the “6th KGCCI Innovation Awards” until May 31, the organization said Tuesday. “Companies of all industries and sizes located in Korea can apply for the award by submitting their applications through the official awards homepage,” KGCCI said. “Not only innovations made in Korea but also innovations made in Germany that have add value in the Korean market c
April 28, 2020
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Seoul, Beijing agree on fast-track system: ambassador
With South Korean businesses in China suffering from low business sentiment and depressed sales amid the coronavirus pandemic, the Chinese ambassador to Korea said Tuesday that Seoul and Beijing had agreed on a fast-track system to guarantee efficient business travel between the two countries. In a keynote speech at a meeting hosted by the Federation of Korean Industries, Chinese Ambassador Xing Haiming said Korea and China had agreed on the plan and that details of their consultations
April 28, 2020
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Samsung Heavy Q1 net losses widen on FX losses
Samsung Heavy Industries, a major South Korean shipbuilder, said Monday that its net losses widened in the first quarter from a year earlier due to evaluation losses of dollar-denominated assets. For the January-March quarter, net losses deepened to 227 billion won ($185 million) from a loss of 102.6 billion won a year earlier, the company said in a regulatory filing. Samsung Heavy said the won's weakness against the US dollar drove up the evaluation losses from its forward exchange contracts
April 27, 2020
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S-Oil bleeds W1tr in Q1, worst in its history
S-Oil on Monday reported a swing to an operating loss of more than 1 trillion won ($815 million) in the first quarter due to a sharp fall in oil prices amid the COVID-19 outbreak, recording the worst figure since the company started business in 1976. The Korean refiner posted an operating loss of some 1,007,300,000,000 won in the first quarter from 270.4 billion won from the same period last year. The company’s revenue dipped 4.2 percent to 5.1 trillion won on-year. “The loss w
April 27, 2020
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[Contribution] Korea's strategy for attracting FDI amid pandemic
Amidst the widespread global spread of COVID-19, a videoconference between Korea and France was held on April 10 under the auspices of the Korean-French Chamber of Commerce and Industry. Introducing the current status of Korea’s response to COVID-19 and changes in the foreign direct investment environment, about 400 participants, including the French ambassador in Korea as well as French government officials, congressmen, companies and media, showed great interest in Korea’s quarant
April 27, 2020