Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Yoon set for talks with Marcos in Philippines
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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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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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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First lady’s Dior bag scandal to be at center of Assembly audit
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Firefighters’ 3,000 won meals spark nutrition concerns
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LG Uplus to create home internet subsidiary in March, offer workers permanent positions
LG Uplus said Friday it plans to establish a home internet service unit, with the aim of launching it on March 1. The subsidiary’s business will encompass home internet services and pay TV products. Its share structure has not been decided yet, said LG Uplus. According to the company, the subsidiary will hire temporary workers from the company’s external partners as permanent employees. LG Uplus aims to offer full-time positions to some 800 temporary workers this year and 500 a
Jan. 3, 2020
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Samsung ships over 6.7m Galaxy 5G smartphones in 2019
Samsung Electronics Co. said Friday it shipped more than 6.7 million Galaxy 5G smartphones last year, solidifying its top dog status in the global 5G handset market. With solid shipment performance, Samsung said it accounted for 53.9 percent of the global 5G smartphone market as of November 2019, citing data from market tracker Counterpoint Research. Samsung launched five Galaxy 5G devices last year, including the Galaxy S10 5G and Note 10 5G, as well as Galaxy Fold 5G.The South Korean tec
Jan. 3, 2020
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Hyundai Heavy aims to win $15.99b worth of deals in 2020
South Korea's Hyundai Heavy Industries Group said Friday its three shipbuilding units are seeking to secure combined deals worth $15.9 billion this year.The combined target of Hyundai Heavy Industries Co., Hyundai Samho Heavy Industries Co. and Hyundai Mipo Dockyard Co. remains unchanged from last year's goal. Hyundai Heavy Industries said it aims to bag $8 billion worth of deals in 2020, according to a company official.Hyundai Mipo Dockyard said in a regulatory filing that it aims to clinch dea
Jan. 3, 2020
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Former secretary to President Moon named new IBK head
Yoon Jong-won, a former senior secretary to President Moon Jae-in for economy, has been named the new head of the state-run Industrial Bank of Korea, the lender said Thursday.The head of the state-run bank is appointed by the president at the recommendation of the finance minister, with Yoon's three-year term to start Friday, the bank said. The presidential office Cheong Wa Dae did not offer reasons for Yoon's appointment.The bank's unionized workers, on the other hand, vowed an all-out struggle
Jan. 2, 2020
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Samsung to strengthen compliance programs via in-house committee
South Korea's top conglomerate Samsung Group said Thursday that it will strengthen its compliance programs by forming a groupwide committee dedicated to better complying with its own internal structure and related laws and regulations, as its key executives, including the group's de facto heir Lee Jae-yong, were embroiled in unlawful acts. Samsung said it is preparing to establish a compliance program led by former Supreme Court Justice Kim Ji-hyung, who previously headed a mediation committee t
Jan. 2, 2020
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LG to face watchdog probe over clothes dryers
LG Electronics Inc., South Korea's major home appliances maker, is set to face a probe from the country's antitrust watchdog, industry insiders said Thursday, as local consumers plan to submit a collective complaint against the company over its clothes dryers.A Seoul-based law firm representing 560 local consumers said it will request that the Fair Trade Commission investigate LG's misleading advertisement for its clothes dryers' automatic condenser cleaning system. LG last month announced a vol
Jan. 2, 2020
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Fishery exports jump to record high in 2019
South Korea's exports of fishery products climbed to a new high last year, the maritime ministry said Thursday, despite a large drop in the country's overall exports.Outbound shipments of fishery products came to $2.51 billion in 2019, up 5.8 percent from a year earlier, according to the Ministry of Oceans and Fisheries.It marks the first time the country's exports of fishery products breached the $2.5-billion mark. "The country reached record highs in fishery exports for a second consecuti
Jan. 2, 2020
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Entrepreneurs stress future business, customer-centered, innovation in 2020
Although Korean conglomerates faced a rough time in 2019 amid growing geopolitical uncertainties and trade tensions topped by Japan’s export controls, the US-China trade war, rising protectionism and a global economic slowdown, most of the top business chiefs here hope for better prospects this year. Leaders from large corporate groups -- including Samsung, LG, Hyundai Motor, Posco, KT, CJ, Hanwha and Shinsegae -- have stressed the need to prepare for future business, customer-centered man
Jan. 2, 2020
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[News Focus] Korea in FTA talks with Asian, South American powerhouses
SEJONG -- South Korea has secured 16 free trade partners -- 12 countries and four trade blocs -- around the globe since it started pursuing bilateral free trade agreements two decades ago.The 12 countries include the US (the world’s largest economy), China (the second-largest) and India (the seventh-largest). The four trade blocs are the 28-member European Union, the 10-member Association of Southeast Asian Nations, the four-member European Free Trade Association and a five-member Central
Jan. 2, 2020
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GS’ new chairman stresses corporate agility in 2020
An agile corporate culture and digital capability are key to overcoming economic uncertainties and adapting to new challenges, said Huh Tae-soo, the new chairman of GS Group, in his New Year’s address in Seoul on Thursday. Huh, who replaced his older brother Huh Chang-soo last month, was addressing 150 employees who gathered at his first face-to-face meeting. In an ever-changing era of trade tensions and digitalization, Heo said that GS Group will focus on consumer needs, foster an a
Jan. 2, 2020
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Korea's exports tipped to turn around in Feb.: analysts
South Korea's exports will likely rebound as early as February, analysts here said Thursday, citing a much-coveted global economic recovery and improving conditions in China.The country's outbound shipments have shown a turnaround since the fourth quarter of 2019, with the pace of decline slowing to 16 percent, 12.4 percent and 1.4 percent in October, November and December, respectively, according to data from the trade ministry.Overall, exports by Asia's fourth-largest economy fell 10.3 percent
Jan. 2, 2020
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Samsung pledges to beef up compliance across group
Samsung Electronics on Thursday vowed to strengthen its compliance to related laws and regulations by forming a committee that will supervise its internal structure across subsidiaries.Former Supreme Court Justice Kim Ji-hyung -- who previously chaired a committee to settle a long-standing dispute over work environment and employee issues at the firm -- will lead the in-house committee. While Samsung has been operating an internal compliance system, it decided to reinforce its functions followin
Jan. 2, 2020
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[Monitor] More people buy food online: survey
More households in South Korea are buying processed food online, with about 80 percent of such families having bought food items at least once a month on average last year.According to the survey conducted by the Ministry of Agriculture, Food and Rural Affairs, Korea Rural Economic Institute, 16.4 percent of the households bought processed food from online platforms at least once a week, compared to 6.7 percent in 2018. Some 43.3 percent purchased at least once in two weeks, compared to 24.3 per
Jan. 2, 2020
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GM Korea's Dec. sales dip 8.5% on lower demand
GM Korea Co., the South Korean unit of General Motors Co., said Thursday its sales fell 8.5 percent last month from a year earlier due mainly to a slump at home and abroad. GM Korea sold 38,818 vehicles in December, down from 42,424 units the previous year, the company said in a statement. Domestic sales plunged 15 percent to 8,820 units last month from 10,428 a year ago. Exports declined 6.2 percent to 29,998 from 31,996 over the cited period, it said. GM Korea launched the US-made Equinox SUV
Jan. 2, 2020
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Online shopping hits record high in Nov.
Purchases made using the internet and mobile devices in South Korea hit an all-time high in November last year, data showed Thursday, thanks to the popularity of fast delivery and convenient payment options with local shoppers.The total value of transactions made with computers, smartphones and tablets reached 12.7 trillion won ($11 billion) in November last year, up 20.2 percent from a year earlier, according to the data from Statistics Korea.It was the first time that the monthly value of onli
Jan. 2, 2020
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[Best Brand] Setting the ‘emotion’: A new approach to branding
Consumers tend to stick to regimens when making purchases. Once satisfied, they remain loyal to a certain product or service, although they might stray from time to time.Consumer loyalty is based on, or goes on to create, brand power, which is representative of the quality, credibility and reputation of the product and ultimately the company. Once a certain brand is continually preferred and consumed, the company seizes a dominant position in the market.Brand equity is the commercial value of co
Jan. 2, 2020
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Samsung, LG to unveil TVs with new designs, slim sizes at CES
South Korea's top two electronics giants -- Samsung Electronics Co. and LG Electronics Inc. -- are set to introduce TVs with new form factors at the world's biggest tech expo next week as they continue to up the ante to lead the global TV market, industry sources said Thursday. Samsung and LG will exhibit their future TV products at the annual four-day Consumer Electronics Show that kicks off on Tuesday in Las Vegas, Nevada, where more than 4,500 firms from around the globe will showcase their l
Jan. 2, 2020
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[Monitor] Housing prices show steepest rise in Dec.
Apartment prices in Seoul showed the steepest rise in December since the government’s real estate policy announced on Sep.13, 2018, which led to rising prices in other cities nationwide. According to data by Korea Appraisal Board, apartment prices in Seoul soared 1.24 percent in December compared to the previous month. It marked the biggest on-month growth in 15 months since September 2018. Across the country, apartment prices rose 0.51 percent, showing the highest growth in four years.(kh
Jan. 1, 2020
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Biz leaders call for more deregulation, aggressive investments in 2020
Amid forecasts of lower economic growth and harsher business conditions in 2020, South Korea’s business community is pushing to ease government regulations to stimulate aggressive investments and entrepreneurship, according to industry sources Wednesday.Heads of the country’s business lobby groups noted abandoning old regulations to seek new changes in 2020.The Federation of Korean Industries chief Huh Chang-soo said in his New Year’s address that future-oriented regulations ar
Jan. 1, 2020
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Samsung QLED 8K TV earns US certification
Samsung Electronics Co. said Wednesday its quantum dot liquefied emitting diode 8K TVs have obtained a certification for its high-definition quality in the United States.Samsung Electronics has received the 8K certification for most of its QLED 8K TVs built for the year of 2020 from the US-based 8K Association, the company said in a statement. The 8K Association is a cross-industry group focused on facilitating the growth of the 8K ecosystem. QLED 8K TV delivers 16 times the resoluti
Jan. 1, 2020