Most Popular
-
1
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
2
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
3
Yoon set for talks with Marcos in Philippines
-
4
Can Jennie break the K-pop solo artist slump?
-
5
Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
-
6
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
7
First lady’s Dior bag scandal to be at center of Assembly audit
-
8
Yoon honors veterans of Korean War in trip to Philippines
-
9
2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
-
10
Firefighters’ 3,000 won meals spark nutrition concerns
-
[Monitor] More companies purchase renewable energy directly
More companies around the world are purchasing renewable energy directly from power producers, under the corporate renewable power purchase agreements, data from Bloomberg New Energy Finance showed. The global market for corporate renewable energy reached 19.5 gigawatts of new deals in 2019, a leap by more than triple from 2017, when the deals made amounted to 5.4 gigawatts. The total size of corporate renewable power purchase agreements has been showing an increasing trend, since it surpasse
Feb. 20, 2020
-
KT&G most lucrative firm among Korea’s top 30 groups: report
South Korea’s tobacco giant KT&G is the most profitable company among the nation’s top 30 conglomerates, while Hanjin Group and Doosan Group, on the contrary, are in urgent need of improving their financial health, data showed Thursday. Local corporate tracker Korea CXO Institute surveyed the net profit margin of the nation’s top 30 companies between 2008 and 2018 using data submitted to the Korea Fair Trade Commission. According to the survey, the total revenue generat
Feb. 20, 2020
-
LG Household to buy Physiogel's biz right for US, Asia markets
LG Household & Health Care Ltd., a major South Korean cosmetics company, said Thursday it has signed a deal to acquire Physiogel business rights for the Asian and North American regions from British pharmaceutical firm GlaxoSmithKline Plc. LG Household will finalize the deal with GlaxoSmithKline to take over the brand's business license for 192.3 billion won ($160 million) within the first half of 2020, the company said in a statement. "The Physiogel brand has not advan
Feb. 20, 2020
-
Preorders for Samsung's Galaxy S20 smartphones start in S. Korea
Preorders for Samsung Electronics Co.'s new flagship smartphone line started in South Korea on Thursday, with local mobile carriers rolling out various promotions to attract customers. Samsung said preorders for the Galaxy S20 smartphones will run through next Wednesday at online and offline stores in South Korea, with the official launch of new handsets scheduled for March 6. The Galaxy S20 series, which was unveiled last week in San Francisco, comes in three models -- the S20, S20 Plus an
Feb. 20, 2020
-
Samsung C&T secures W1.15tr power plant deal in UAE
Samsung C&T, the construction arm of Samsung Group, said Wednesday it clinched a 1.15 trillion won ($960 million) power plant deal in the United Arab Emirates. According to the company, it won the order placed by Emirates Water and Electricity Co. to build a 2,400-megawatt combined cycle power plant in Fujairah, some 300 kilometers northeast of Abu Dhabi. The envisioned power plant, under the project Fujairah F3, is expected to provide power for 380,000 homes in the region. Construction i
Feb. 20, 2020
-
Lotte declares green campaign for affiliates
Retail and travel giant Lotte said Wednesday it has prepared a new environment friendly campaign for all of its affiliates, under a five-year plan to reduce food waste, minimize packaging and reuse resources. Lotte Holdings, and four of its business units -- food, retail, chemical/construction/manufacturing and tourism/service/finance -- will take part in the project. Lotte has three main action plans: establishing a plastic recycling system; expanding the use of environment friendly materia
Feb. 19, 2020
-
[Monitor] Involuntary retirees in 40s, 50s reach 500,000
The number of Koreans in their 40s and 50s forced to retire from their jobs last year has reached close to 500,000, the largest figure in five years, data from Statistics Korea released by Rep. Choo Kyung-ho of the former Liberty Korea Party showed. The involuntary retirees include those whose workplaces have shut down, those who lost jobs in restructuring and those with seasonal or temporary jobs whose projects have ended. The report noted that the figure for involuntary retirement increase
Feb. 19, 2020
-
Coronavirus cuts into Eastar Jet executive pay by 30%
Korean low-cost carrier Eastar Jet has decided to tighten its belt by reducing executive wages and workweek, amid the continued spread of the novel coronavirus that apparently originated in China, according to the company on Wednesday. The firm said the executives agreed to reduce 30 percent of their salaries from March for four months. It also will accept applications from all employees -- barring flight and cabin crew -- for three-day and four-day workweeks. Employees can choose one o
Feb. 19, 2020
-
Hyundai still lacking parts, full operation likely next week
Hyundai Motor Group said Wednesday its passenger car plants will fully recover next week following two weeks of partial operation as the spreading coronavirus disrupts the parts supply from China. Hyundai Motor Co. and its affiliate Kia Motors Corp. said they plan to partially operate their passenger car plants by the end of this week as auto components from their suppliers in China are on their way to South Korea. "For now, (Hyundai and Kia) expect all passenger vehicle assembly lines
Feb. 19, 2020
-
Samsung Display announces commercialization of glass cover for foldable devices
Samsung Display Co., an affiliate of Samsung Electronics Co., said Wednesday it has commercialized a glass cover for foldable devices. Samsung Display said its ultra thin glass cover window that is about 30 micrometers thick can be mass-produced for various foldable devices. The flexible glass cover is already used in Samsung Electronics' vertically folding Galaxy Z Flip smartphone that was launched last week. The company said its UTG cover window is more durable and scratch-resistant than p
Feb. 19, 2020
-
Samsung signs partnership with BTS to boost marketing
Samsung Electronics Co. signed a partnership with K-pop super band BTS for marketing of its new smartphones, company officials said Wednesday. Samsung will first work with BTS for the boy band's global contemporary art initiative, "CONNECT, BTS," and will expand their collaboration to other areas, according to the officials. "CONNECT, BTS" is a global initiative spearheaded in collaboration with curators from five major cities -- London, Berlin, Buenos Aires, Seoul and N
Feb. 19, 2020
-
Samsung C&T wins W1.15tr power plant deal from UAE
Samsung C&T Corp., the construction unit of Samsung Group, said Tuesday that it has won a 1.15 trillion-won ($970 million) deal to build a power plant in the United Arab Emirates. Under the deal with F3 Holding Company B.V., Samsung C&T will build a 2,400-MW combined cycle power plant in Qidfa in the Emirate of Fujairah by the end of April 2023. Shares in Samsung C&T Corp fell 2.09 percent to 117,000 won, underperforming the broader KOSPI's 1.48 percent decline. (Yonhap)
Feb. 18, 2020
-
Virus games buoyed by coronavirus pandemic
Virus-related games are gaining popularity amid the ongoing COVID-19 spread. Plague Inc., launched in 2012 by London-based company Ndemic Creations, especially enjoyed a spike in its daily user rate, sitting atop the charts of the respective Apple App Store in Hong Kong, Taiwan, Singapore, France and the UK, as of Tuesday, boasting unusual prominence for an 8-year-old game. In Korea, China and the US, the game is variably either first or second on the charts. “Can you infect the world?
Feb. 18, 2020
-
Sales growth of Korean firms slows, market share in China declines
Only eight companies, including Samsung Electronics, LG Electronics and Hyundai Motor, have been ranked among Korea’s top 50 listed companies in revenue for 35 consecutive years. Seventy percent of the largest companies were found to have lost their ranks or changed ownership, data showed Tuesday. Local research firm Sustainable Growth Institute surveyed sales data of the nation’s 50 largest companies by revenue between 1984 and 2018. The surveyed companies are in the manufacturin
Feb. 18, 2020
-
[Advertorial] LG Chem aims to double revenue by 2024
LG Chem said Tuesday it aims to double its revenue by 2024. The South Korean chemical giant ranked 10th among the global top 50 chemical companies in 2018 in an annual survey by Chemical and Engineering News, published by the American Chemical Society, last year. The company aims to double its current revenue of around 30 trillion won ($25.6 billion) to 59 trillion won and to secure double-digit operating margin by 2024. It has set 2020 as the “Year of Execution” and vowed to r
Feb. 18, 2020
-
LG Group chief visits R&D center, emphasizes design
The chief of LG Group on Tuesday emphasized design quality for its electronic products, saying that design is a factor that can deliver a differentiated customer experience. Koo Kwang-mo, who leads South Korea's fourth-largest conglomerate, visited LG Electronics Inc.'s research and development (R&D) campus in Seoul and checked the company's products. "It is design that gives the first impression of our products and delivers this sense of feeling that this product is worth buying,&q
Feb. 18, 2020
-
Imports of Japanese consumer goods down for 7th month amid boycott
South Korea's imports of key consumer goods from Japan fell for the seventh consecutive month in January as a boycott of Japanese goods has dragged out amid their monthslong feud over their shared wartime history, data showed Tuesday. Imports of consumer goods from Japan dipped 35.9 percent from a year earlier in January to $193.6 million, according to the data compiled by the Korea Customs Service and released by Rep. Kim Chung-woo of the ruling Democratic Party. A growing number of
Feb. 18, 2020
-
UAE approves operation of Arab’s first nuclear plant built by Kepco
The United Arab Emirates has approved the operation permit of the Barakah nuclear power plant, which is being built by Korea Electric Power Corporation, reports said Monday. This is the first nuclear power plant exported by the Korean firm. The license granted to the plant’s operator Nawah Energy Company will be for 60 years, Hamad al-Kaabi, deputy chairman of Federal Authority for Nuclear Regulation, was quoted as saying by Reuters. Nawah can now start preparing for commercial operatio
Feb. 17, 2020
-
[Monitor] Six out of 10 Korean firms anticipated worsened business from coronavirus
Six out of 10 Korean companies expect their business to worsen due to the novel coronavirus outbreak, a survey released by the Korea Economic Research Institute showed. The survey, conducted by Mono Research on the top 1,000 companies by revenue, showed that 61.8 percent of them said the outbreak will hamper their overall revenue and exports. Among those with production facilities in China, 83.9 percent said they will be hurt by the virus. A prolonged pandemic will hurt the auto industry the
Feb. 17, 2020
-
[Photo News] Convenience stores enjoy boom
With changing consumption patterns amid the rising number of single-member households and online shopping, the convenience store chains in South Korea reaped their largest margins last year, according to industry data. GS25 made 256.5 billion won in operating profit last year, its largest on record. CU also marked a record 196.6 billion won in operating profit. The consolidated operating profit of Emart, the large retail store chain, meanwhile, dropped 67.4 percent to 150.7
Feb. 17, 2020