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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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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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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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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Firefighters’ 3,000 won meals spark nutrition concerns
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Yoon honors veterans of Korean War in trip to Philippines
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Korea's PC market grows 7% in 2019 on Windows 10 transition: data
South Korea's PC market grew 7 percent last year from the previous year on the back of the Windows 10 transition in the commercial market, industry data showed Tuesday. Domestic PC shipments totaled 4.55 million units in 2019, up 7.2 percent from 2018, according to the data by market researcher IDC Korea. Of the total, desktop shipments accounted for 2.19 million units, up from 1.93 million units in 2018, while laptop shipments increased slightly from 2.31 million units to 2.35 million units
Feb. 11, 2020
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Q1 smartphone output may drop to 5-year low due to coronavirus: report
Global smartphone production in the first quarter of the year may drop to a five-year low due to the novel coronavirus outbreak, a market researcher said Monday. TrendForce said it expects global smartphone production in the first quarter to decline 12 percent on-year to 275 million units following the coronavirus outbreak that has killed more than 900 people in China. "Delayed resumption work and uncertainties in employees' returns will cause the monthly delivery of key components to
Feb. 10, 2020
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[Monitor] Will global economy survive coronavirus epidemic?
The global economy is facing its first major test this year as the on-going outbreak of the novel coronavirus (2019n-CoV) is taking a devastating toll on China, the world’s second-largest economy. With the death toll from the outbreak soaring to more than 800 in China as of Sunday and still rising, the global economy is suffering collateral damage as the country accounts for 16.3 percent of global GDP. “Due to the spread of the novel virus, the global economy is likely to shrink
Feb. 10, 2020
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CJ Group shares credit for Parasite’s historic Oscar win
Capping off the historic moment at the 92nd Academy Awards on Sunday was a relatively unfamiliar face, thanking everyone from her brother to the Academy and general moviegoers for the best film win. That was Lee Mi-kyung, vice chairman of South Korea’s retail and entertainment mogul CJ Group, who -- without the need for a translator -- shared her joy with director Bong Joon-ho and the cast and crew of the first non-English-language film to win the Academy of Motion Picture Arts and Scien
Feb. 10, 2020
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Travel, transport sectors suffer most from novel coronavirus outbreak
The continued spread of China’s new coronavirus is hitting the South Korean economy hard, adversely affecting many sectors including travel, tourism, services, airlines and auto firms. Among them, the tourism industry has been more severely affected due to fears of infections in tourist spots and airports where many people gather. Hana Tour, the nation’s biggest tour agency, saw overseas travel demand dip around 50 percent last month. It is urging employees to apply for unpaid l
Feb. 10, 2020
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Samsung airs ad for Z Flip at Oscars ceremony
Samsung Electronics aired a surprise teaser commercial for its new foldable cell phone Z Flip, during the live Academy Awards 2020 on Sunday. Z Flip is the second foldable phone from Samsung Electronics, after the Galaxy Fold that launched in 2019. The Galaxy Fold horizontally folds, while the Z Flip shuts vertically. In the teaser, the clamshell type Z Flip could display an incoming call while shut closed in a square shape, allowing users to choose to accept or decline the call. The hinge
Feb. 10, 2020
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Korean EV battery companies carve out bigger market share in 2019
South Korea’s major electric vehicle battery makers strengthened their market control in 2019 by supplying products to foreign automakers, industry data showed Monday. Three domestic electric vehicle battery giants -- LG Chem, Samsung SDI and SK Innovation -- increased their combined market share to 15.8 percent from 11.8 percent a year earlier, according to data from market tracker SNE Research. LG Chem moved up to third place with market share of 10.5 percent, knocking down Chinese
Feb. 10, 2020
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Hyundai, Kia beat Volkswagen in EV sales last year
Hyundai Motor Co. and its affiliate Kia Motors Corp. said Monday their combined electric vehicle sales exceeded Volkswagen's EV sales in global markets last year. Hyundai and Kia, which together form the world's fifth-biggest carmaker by sales, sold a total of 126,406 electric vehicles in 2019, higher than the German carmaker's 84,199 units, according to data from global EVs data-focused provider InsideEVs. The two ranked sixth in the global EV sales rankings for 2019, following Tesla, Inc.,
Feb. 10, 2020
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LG Uplus set to provide 5G roaming service in Japan
LG Uplus Corp., South Korea's No. 3 mobile carrier, said Monday it has moved one step closer to providing its 5G roaming service in Japan ahead of the 2020 Tokyo Olympics. LG Uplus said it has recently completed the testing of its 5G roaming service in Japan, becoming the first South Korean firm to do so, after partnering with Japanese telecommunication firm KDDI Corp. Japan is expected to commercialize its 5G service in late March, so that it can offer better telecommunication services ahe
Feb. 10, 2020
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Korean tech firms to resume production in China
South Korean tech firms plan to resume operations at their facilities in China on Monday -- after an extended 17-day holiday for Lunar New Year -- despite the ceaseless spread of the novel coronavirus across the world. However, it is expected to take quite some time for them to fully recover their operation rates due to possible workforce shortages stemming from the rising number of virus infections in China, with fewer number of returning workers from the holiday in healthy conditions.
Feb. 9, 2020
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Hyundai Glovis’ second-hand vehicle auction service gains popularity
Autobell, a second-hand vehicle retail selling service operated by Hyundai Glovis, has seen growing popularity among users amid the expanding used car market. As of last year, government data showed that a total of 3.69 million second-hand vehicles have been registered, about double that of newly registered cars at 1.8 million units. Hyundai Glovis, which runs three auction houses across the country – Sihwa, Bundang and Yangsan -- launched its vehicle auction service in 2001. 
Feb. 9, 2020
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Coronavirus casts shadow on pharma approvals for China market
As Chinese authorities’ priorities shift to containing the novel coronavirus, concerns are rising that launch dates for drugs pending approval for the Chinese market may be postponed, according to industry sources on Sunday. No official announcement has been made by the Chinese drug authority National Medical Products Administration, but Korean pharma insiders widely believe all drug approvals may be pushed back. GC Pharma, Hanmi Pharmaceutical and Il Yang Pharmaceutical all have pendi
Feb. 9, 2020
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FTC slaps W9.3b antitrust fine on Daebo E&C
South Korea’s antitrust watchdog said Sunday it has slapped local construction firm Daebo Engineering & Construction with a 9.3 billion won ($7.84 million) fine for violating subcontracting laws. The Fair Trade Commission said the firm did not pay 247 million won to 196 subcontractors between 2016 and 2018. It was also found to have paid subcontractors promissory notes even though it received the payment in cash from its clients. The FTC said the payments were processed during the
Feb. 9, 2020
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Samsung offers W2.6tr for virus-hit subcontractors
Samsung Electronics said Sunday it will provide 2.6 trillion won ($2.18 billion) worth financial support for its subcontractors who are facing difficulties in procuring parts due to the novel coronavirus outbreak. The company will lend them 1 trillion won at lower-than-usual interest or zero rates, while providing 1.6 trillion won worth goods payments in advance by using its existing funds raised for contractors, the tech giant said. Logistics costs of express deliveries of major raw mater
Feb. 9, 2020
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LG decides to sell off twin buildings in Beijing
LG Electronics has decided to sell off its twin towers in Beijing to secure liquidity amid global uncertainties and to invest in future growth engines, the company said Friday. The company’s board of directors has agreed to sell its entire 49 percent stake in LG Holdings Hong Kong, which wholly owns LG Beijing Twin Towers, to RECO Changan Private, owned by Singaporean fund GIC. The price for the 49 percent stake is 668.8 billion won ($561.7 million), the company said. LG plans to s
Feb. 7, 2020
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Cho Hyun-ah denounces Hanjin KAL board decision
Cho Hyun-ah, the eldest daughter of late Hanjin Group Chairman Cho Yang-ho, released a statement on Friday afternoon to denounce the board decision made by Hanjin KAL in the morning. In a joint statement with local activist fund Korea Corporate Governance Improvement and midsized builder Bando Engineering & Construction, she said the board decisions consisted of “improvised measures to obtain the votes of the shareholders just before the general shareholders’ meeting without s
Feb. 7, 2020
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Hanjin KAL decides to give board of directors right to pick chairman
Hanjin KAL, the holding company of Hanjin Group, held a board meeting on Friday, to have the chairman of the board of directors be elected by the board to separate the position of its company president and the board chair. The board also decided to reorganize the hotel and leisure business that former Korean Air Vice President Cho Hyun-ah -- who is engaged in a feud with her brother Cho Won-tae -- had been dedicated to. “The intention is to strengthen the role of the board of director
Feb. 7, 2020
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LG Uplus 2019 profit down as investment, marketing costs rise
LG Uplus Corp., South Korea's No. 3 mobile carrier, said Friday its net profit fell 8.9 percent last year from a year earlier as it ramped up spending on its 5G network and marketing. In a regulatory filing, LG Uplus reported a net income of 438.8 billion won ($369.2 million) last year, down from 481.6 billion won in 2018, on a consolidated basis. The company said that operating profit for the year fell 7.4 percent on-year to 686.2 billion won, although its annual revenue rose 5.6 percent on
Feb. 7, 2020
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Coway rebrands under Netmarble
Woongjin Coway is now simply Coway after Netmarble’s acquisition of the company. Coway convened an interim shareholders meeting on Friday at its head office in Gongju, South Chungcheong Province, where it voted on loosing Woongjin from its company name. Netmarble Chairman Bang Jun-hyuk was made a director, as well as Netmarble-Coway task force team leader Seo Jang-won and Coway CEO Lee Hae-sun. Four newly appointed outside directors were Kim Jin-bae, professor at Korea University Bus
Feb. 7, 2020
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SK Telecom's profit plunges in 2019 on equity losses, costs
SK Telecom Co., South Korea's top mobile phone operator, said Friday its net income plunged 72.5 percent last year from a year earlier due to reduced equity gains from its chip-making affiliate. In a regulatory filing, SK Telecom reported a net income of 861.9 billion won ($725.9 million) last year, down from 3.1 trillion won in 2018, on a consolidated basis. The company said that operating profit for the year fell 7.6 percent on-year to 1.11 trillion won, although its annual revenue increase
Feb. 7, 2020