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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S. Korean firm sues BAT over alleged trademark infringement
Vitabon, a South Korean venture firm, said Friday it has launched a trademark infringement suit against tobacco giant British American Tobacco.Vitabon claims that its nicotine-free aromatherapy device, named Sense, and BAT's hybrid e-cigarette product, glo sens, confuse consumers due to their similar names. Vitabon said it has filed the lawsuit with the Seoul Central District Court, demanding 110 million won ($93,000) in compensation and that manufacturing and sales of glo sens be banned i
Nov. 29, 2019
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European companies say level of Korean business law ‘tough’
The European business community in Korea on Friday called for efforts to create a business-friendly climate for both Korean and foreign companies here, citing a growing number of criminal charges and regulations that hinder foreign investment.“Korean laws are very tough,” said Michael Reiterer, ambassador of the European Union to Korea, at an event held by the European Chamber of Commerce in Korea, claiming that stricter regulatory measures were being imposed on foreign companies. &l
Nov. 29, 2019
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Nexon‘s V4 wins G-Rank game of this month
Nexon’s V4 and Zabob Studio’s Coin Princess won November’s G-Rank Game of the Month and Challenge Seoul award, respectively, the company said Friday.The G-Rank awards ceremony took place at OGN E-sports Stadium in Sangam-dong, Seoul, Thursday. November’s game, V4, is a mobile MMORPG made using Unreal Engine 4. It boasts high-end graphics, a vast virtual combat field and character customizing features that reportedly won many fans. Challenge Seoul award winner Coin Princes
Nov. 29, 2019
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Imports of Japanese beer in freefall on boycott
South Korean imports of Japanese beer tumbled more than 99 percent on-year in the past two months due to a boycott of Japanese products amid a bilateral trade row, data showed Friday.South Korea brought in Japanese beer worth US$38,000 in October, down 99.5 percent from a year earlier, according to the data from the Korea International Trade Association. Imports of Japanese beer were valued at a mere $6,000 in September, 99.9 percent lower than a year earlier.During the July-October period, impo
Nov. 29, 2019
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Industrial output down for 2nd consecutive month in October
South Korea's overall industrial output declined for the second straight month last month due mainly to a decrease in the production of auto and display panels, government data showed Friday.The data compiled by Statistics Korea showed the country's overall industrial output fell 0.4 percent in October from a month earlier.The agency said auto output dropped 4.4 percent in October from a month earlier, and the production of electronic parts declined 7 percent.Meanwhile, the output of the service
Nov. 29, 2019
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Seoul, Tokyo to hold high-level talks over bilateral trade row in Dec.
South Korea and Japan will hold high-level talks with Japan in December, the first step toward resolving their bilateral trade row, Seoul's trade ministry said Friday.On Thursday, working-level trade officials from South Korea and Japan met in Seoul, apparently to discuss the schedule and agenda for director-general level talks."Through the meeting, the two countries agreed to meet in Tokyo around the third week of December on export policies," South Korea's Ministry of Trade, Industry
Nov. 29, 2019
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Hyundai Department Store picked as new operator for duty-free shop
South Korea's customs office said Thursday that one of the country's leading department store chains, Hyundai Department Store, has won the license to operate a duty-free shop in downtown Seoul.Hyundai Department Store, the sole candidate, was picked to operate the duty-free outlet at Dongdaemun, northeastern Seoul, according to the Korea Customs Service. The site was previously operated by conglomerate Doosan Group,Hyundai Department Store has operated a duty-free shop at its Trade Center branc
Nov. 28, 2019
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[Global Finance Awards] KB Kookmin Bank runs mentoring school for SMEs
MUTUAL GROWTH/ BANKKB KOOKMIN BANKSouth Korea’s leading lender KB Kookmin Bank has been supporting early-stage entrepreneurs by conducting a mentoring and consulting program called KB Soho Mentoring School.The bank on Nov. 1 held a graduation ceremony for participants to the second round of the program dedicated to those starting a social enterprise. Some 40 early-stage entrepreneurs have participated in the seven-week-long program to obtain professional skills as a small business ow
Nov. 28, 2019
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GS Energy signs deal to build LNG power plant in Vietnam
GS Energy, the energy unit of GS Group, said Thursday that it has signed a deal with Vietnam’s VinaCapital to build a liquefied natural gas power plant there.Through the collaborative partnership, the two firms will build a megasized LNG power plant with total capacity of 3 gigawatts in the southern region of Vietnam. All electricity generated from this power plant will be provided nationwide via a power purchase agreement with Vietnam’s state-run power company Vietnam Electricity.&n
Nov. 28, 2019
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Pulmuone Foods claims 75% of US tofu market in Q3
South Korea’s Pulmuone announced Thursday that its wholly owned US subsidiary has gained 75 percent market share in the third quarter.Pulmuone entered the US tofu market by acquiring the nation’s top brand Nasoya in 2016 to establish nationwide distribution channels and its market share, according to Nielsen’s data, increased from 4.9 percent in 2015 to 69.5 percent that year. The company said the total sales of Pulmuone Foods USA was around $90 million in 2015 prior to the acq
Nov. 28, 2019
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Sweden-based audio book operator Storytel launches Korean service
Storytel, a Sweden-based audio book streaming provider, officially launched a Korean service Thursday, tapping the tech-savvy Asian country with an underdeveloped market for audio books.South Korea is now one of the 19 countries Storytel is currently servicing since its founding in 2005 in the Scandinavian country.South Korea is the third Asian country Storytel has tapped into so far, following India and Singapore. Including the Korean language, Storytel has a catalogue of 300,000 titles in 20 d
Nov. 28, 2019
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South Korea’s exports to grow 3.3% next year: KITA
South Korea’s exports are expected to rise 3.3 percent next year on the back of global economic recovery and rising memory chip prices, a local trade association said Thursday. The Korea International Trade Association said exports are forecast to stand at $561 billion in 2020 with imports of $522 billion, growing 3.3 percent and 3.2 percent on-year, respectively. This year’s exports are expected reach $543 billion while imports are estimated at $506 billion, down 10.2 percent and 5.
Nov. 28, 2019
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‘Kakao Klaytn ahead of Facebook Libra’
Kakao’s Klaytn has ambitions to become the world’s biggest public blockchain consortium, said Kakao CEO Yeo Min-soo, Thursday, at the first Klaytn Governance Council Summit held in Seoul.“Currently, Klaytn’s expansion is centered in Asia, but it will gradually spread, in the end becoming the best global blockchain platform. To that end, we will not spare any investment and implore the Governance Council members to actively join in on the growth of our ecosystem,” sa
Nov. 28, 2019
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Transportation sector sales rise for 4th straight year in 2018
South Korea's transportation sector sales gained ground for the fourth year in a row in 2018 due mainly to an increase in air services, government data showed Thursday.The combined sales of local transportation firms totaled 146.9 trillion won ($124.5 billion) in the one-year period, up 3.3 percent from 142.2 trillion won tallied the year before, according to the data compiled by Statistics Korea. Land transportation companies saw their sales rise 1.8 percent to 65.3 trillion won, and storage an
Nov. 28, 2019
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Facebook unveils report on enforcement of its community standards
US social networking giant Facebook Inc. said Thursday it has released an updated report on how it has been making efforts to detect content that violates community rules to proactively remove it from both Facebook and Instagram.The report contains data and metrics that show which categories are the most problematic in terms of violations of Facebook rules and the number of cases that violated regulated standards.Among the wide variety of content were child nudity, child sexual exploitation and
Nov. 28, 2019
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S. Korea to cut operation of coal-powered plants over winter
South Korea said Thursday it will suspend the operation of coal-powered plants over the winter to reduce fine dust emissions.Eight to 15 coal power plants will suspend operations from Sunday to Feb. 29, according to the Ministry of Trade, Industry and Energy. Other plants will be instructed to maintain their power output at 80 percent of capacity depending on demand. Through such efforts, South Korea is expected to reduce the emission of fine dust by 44 percent compared to a year earlier over th
Nov. 28, 2019
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Foreign visitors to local duty-free stores top 1.8m in Oct.
The number of foreigners visiting local duty-free shops surpassed 1.8 million last month, hitting the highest monthly mark since late 2016, industry data showed Thursday.Statistics provided by the Korean Duty Free Association said more than 1.8 million foreigners visited duty-free stores in the country in October, the highest number since China's apparent retaliation against Seoul over the deployment of a US missile defense shield here. The number of foreign shoppers at the duty-free stores reac
Nov. 28, 2019
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Samsung to supply PC CPUs to Intel: sources
Samsung Electronics Co. has agreed to supply central processing units for computers to Intel Corp. to help address the US chipmaker's chip supply issues, industry sources said Thursday. Intel has been struggling to meet demand for 14-nanometer chips for PCs since late 2018 and recently issued an apology to its customers for shipment delays. According to semiconductor industry sources, Intel has chosen Samsung to be its third-party foundry to ramp up its 14-nm production capacity as part of
Nov. 28, 2019
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[ASEAN-Korea summit] KAI eyes ASEAN as key market for growth
Backed by diplomatic ties between South Korea and Southeast Asia, the nation’s sole aircraft manufacturer Korea Aerospace Industries is stepping up efforts to expand the sale of advanced aircraft to the region, touting its technological strengths and cost effectiveness.Taking the ASEAN-ROK Commemorative Summit in Busan this week as an opportunity to showcase its cutting-edge aircraft to leaders of Southeast Asian countries, KAI said it hopes to contribute to expanding cooperation with defe
Nov. 27, 2019
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SK Chemicals wins FDA approval for patch-type Alzheimer's medicationBy Kim Han-joo
SK Chemicals Co., a pharmaceutical affiliate of South Korean conglomerate SK Group, said Wednesday it has won approval from the US Food and Drug Administration to sell its patch-type Alzheimer's drug in the United States.SID710, the generic drug referencing Novartis AG's Exelon Patch to treat dementia symptoms associated with Alzheimer's disease, received the green light from the FDA, the company said.The approval marked the first time a South Korean company has applied for FDA approval for an A
Nov. 27, 2019