Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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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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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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Can Jennie break the K-pop solo artist slump?
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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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Firefighters’ 3,000 won meals spark nutrition concerns
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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SDI meets US safety standard for ESS fire prevention test
South Korea’s Samsung SDI has become the first Lithium-ion battery manufacturer to meet the safety standard for fire prevention test developed by a US certification firm, the battery maker said Sunday. According to the company, Samsung SDI last month fulfilled the rack-level safety standard of UL 9540A’s fire prevention test for Energy Storage System. The evaluation system was developed by the US-based safety certification company UL. Samsung SDI stressed it had gained UL recognition
Nov. 3, 2019
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S. Korea's trade surplus with US on decline since revised FTA
South Korea's trade surplus against the United States has decreased nearly 7 percent since the two countries kicked off a revised free trade agreement earlier this year, data showed Sunday.Asia's No. 4 economy's trade surplus against the US reached $10 billion over the January-October period, down 6.8 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.The revised FTA went into effect on Jan. 1 to reflect Washington's demands in the auto sect
Nov. 3, 2019
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USFK: No objection to S. Korea's Saemangeum solar farm project
US Forces Korea (USFK) said Friday it does not oppose South Korea's project to build a floating solar power plant near the Saemangeum reclamation area on the west coast amid speculation that those facilities might affect fighter pilots.On Thursday, the local daily Chosun Ilbo reported that the USFK raised concern that light reflecting from solar panels might disrupt its flight operations, but the Korea Hydro & Nuclear Power Co. rejected such complaints."After careful consideration and e
Nov. 1, 2019
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Kakao, SK added most affiliates in past 3 months: FTC data
IT giant Kakao and the nation’s third-largest conglomerate SK Group saw the biggest increase in their number of affiliates in the past three months among the country’s largest business groups, data showed Friday, reflecting their aggressive expansion plans. According to data released by the antitrust watchdog Fair Trade Commission, Kakao took 17 affiliates under its wing from August to the end of October, the highest number among other large businesses in the three-month period. SK G
Nov. 1, 2019
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LG Electronics makes Series A investment in US’ Washlava
LG Electronics said Friday it has made a Series A investment in laundry startup Washlava. Series A refers to the first stage of fundraising for a startup after its foundation, as it gears up for full-fledged business operations. Established in 2017, Washlava is based in Tampa, Florida. It provides a mobile platform for reservations, services and payment for the use of washing machines and dryers at dormitories, hotels and laundromats. LG Electronics has participated in the Series A round o
Nov. 1, 2019
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Samsung vice chairman renews corporate vision for next 50 years
Celebrating the 50th anniversary of Samsung Electronics on Friday, Vice Chairman Lee Jae-yong vowed for another constructive 50 years in business to reach a full centennial milestone.“The past 50 years has been possible thanks to all your dedication. Let us now freely dream and imagine new possibilities over the next 50 years,” Lee said in recorded video remarks to some 400 employees gathered for an anniversary ceremony at Samsung Digital City in Suwon, Gyeonggi Province.S
Nov. 1, 2019
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Europeans perceive Korea as land of games: Com2uS
A survey targeting some 1,500 Europeans revealed that the majority perceived computer and mobile games as the most representative cultural content of South Korea, mobile games firm Com2uS said Friday. Com2uS is the Korean developer behind the mobile game Summoners War, which was played at the inter-country esports friendly match during the Korea-Sweden summit in June in Stockholm, Sweden. At the Summoners War World Arena Championship 2019 finals in Paris on Oct. 26, Com2uS conducted the su
Nov. 1, 2019
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Boeing opens technology center in South Korea
Boeing Co. said Friday it has opened an engineering and technology center in South Korea to promote partnerships with local companies. The Boeing Korea Engineering & Technology Center is Boeing's 7th overseas technology center, and the 40-person center will be fully under the control of the US aircraft manufacturer, the company said in a statement. Boeing has five technology centers in the United States. The company is planning to secure local talent in Korea and strengthen partnerships with
Nov. 1, 2019
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South Korea’s exports decline for 11 straight months
South Korea’s exports have declined for the 11th consecutive month due mainly to a slowdown in demand for chips and the weak global economy, data showed Friday. According to the Trade Ministry, the nation’s exports stood at $46.7 billion last month, down 14.7 percent on-year, the biggest decline this year. Exports have fallen since December last year, and the decline has been double-digit for five months since June this year. By product, exports of chips shrank 32.1 percent, whi
Nov. 1, 2019
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Finance minister voices regret over indictment of ride-hailing executives
South Korea's finance minister on Thursday expressed regret over a recent indictment of executives at the operator of rental van-hailing service Tada.On Monday, prosecutors indicted Lee Jae-woong, chief executive of car-sharing app SoCar, and Park Jae-uk, CEO of SoCar's subsidiary Value Creators & Company, calling the app-based ride-hailing business illegal."It's regrettable that (prosecutors) brought the issue to the court before win-win solutions could fully work," Finance Minist
Oct. 31, 2019
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Ministry to advance safety probe, repair of Boeing 737 NGs in Korea
South Korean air carriers will be subject to a government safety probe within the next month, a move by the Transport Ministry to improve safety checks in the wake of global concerns over component malfunctions of Boeing 737 Next Generation aircrafts.Following the Ministry of Land, Infrastructure and Transport’s announcement of the measures on Wednesday, a total of 150 B737 NG aircrafts operated in the country are to undergo an emergency safety inspection by the end of November. The i
Oct. 31, 2019
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Korea to shorten travel time with underground roads, high-speed trains by 2030
South Korea is seeking to reduce travel time in heavily congested metropolitan areas by building deep underground roads and adding new high-speed train services by 2030, officials said Thursday.The Ministry of Land, Infrastructure and Transport announced its vision for “metropolitan transportation 2030,” presenting three goals: to shorten travel time in major regional hubs to 30 minutes, cut down travel costs by up to 30 percent, and reduce by 30 percent the time people spend transfe
Oct. 31, 2019
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Paradise Casino Walkerhill holds event for Mongolian students in Seoul
Paradise Casino Walkerhill’s chief Park Byeong-ryong held a community event with Mongolian students living in Korea, to improve their occupational aptitude and career trajectory, the company said Thursday. According to the foreigner-only casino operator, its employees and 60 students from International Mongolia School gathered at vocational school KidZania in Seoul on Wednesday to participate in job-searching programs. The students received advice about their career paths through
Oct. 31, 2019
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SK Innovation Q3 net plunges 62 % on inventory losses
SK Innovation Co., South Korea's top refiner, said Thursday that its third-quarter net profit tumbled 62 percent from a year earlier on inventory losses.Net profit stood at 174.2 billion won ($149 million) on a consolidated basis in the July-September period, compared with 459.4 billion won a year earlier, the company said in a regulatory filing.Operating income plunged 60.5 percent on-year to reach 330 billion won in the third quarter, with sales falling 17.3 percent on-year to 12.3 trillion wo
Oct. 31, 2019
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S. Korea to offer autonomous bus service in Sejong in 2022
A simple tap on a smartphone screen can bring a bus to your selected location. And don't be surprised if the driver's hands are not on the wheel. The proposed service is an illustration of South Korea's efforts to develop future vehicles and related services amid growing global competition.The Ministry of Land, Infrastructure and Transport said it will begin testing autonomous buses in South Korea's administrative hub of Sejong next month.A human backup driver will be behind the wheel durin
Oct. 31, 2019
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Samsung’s Q3 net profit plummets on semiconductor market woes
Samsung Electronics on Thursday kept an upbeat outlook on its memory chip business, pledging flexible investments into the sector despite its third-quarter earnings having suffered from semiconductor market woes.Samsung’s third-quarter earnings released earlier in the day showed that its net profit more than halved due to the lackluster performance of its semiconductors division, despite improved smartphone sales. In a conference call that immediately followed the earnings release, Jeon Se
Oct. 31, 2019
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Sept. industrial output falls 0.4% on service sector
South Korea's industrial output fell in September from a month earlier due mainly to declines in the services sector, government data showed Thursday.The country's overall industrial production saw a 0.4 percent on-month decline last month after posting on-year gains in the previous two months, Statistics Korea said in a statement. Production in the mining, manufacturing, gas and electricity industries climbed 2 percent in September from a month ago, while output in the services industry decline
Oct. 31, 2019
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Hanjin family inherits late chairman's stake in holding company
The controlling family of South Korea's Hanjin Group inherited a 17-percent stake of the group's holding firm, Hanjin KAL Corp., from its late chairman Cho Yang-ho, the company said Wednesday. Hanjin KAL has been led by Cho's only son, 44-year-old Cho Won-tae, since late April, after the elder Cho died of a chronic lung disease while receiving treatment in the United States on April 8. After inheriting the stocks, Won-tae saw his stake in Hanjin KAL rise to 6.46 percent from 2.32 perc
Oct. 30, 2019
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Daelim Industrial to acquire US Kraton's chemical business
Daelim Industrial Co., a major construction and petrochemical firm in South Korea, said Wednesday it will acquire a chemical business of US Kraton Corp. for 618.2 billion won ($529.9 million). To acquire the Cariflex business of Kraton, Daelim Industrial will set up a subsidiary in the US, the company said in a regulatory filing. The planned acquisition is aimed at helping bolster its line-up of higher-value chemical products, according to the filing. Daelim Industrial is the No.-
Oct. 30, 2019
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LG Electronics posts earning surprise in Q3 although net profit plunges
LG Electronics posted record-breaking revenue and operating profit in the third quarter this year on the back of solid television sales but its mobile division continued to struggle in the red, officials said Wednesday.The company’s consolidated revenue stood at 15.7 trillion won ($13.4 billion), its highest third-quarter figure, while operating profit was a 10-year high of 781 billion won, up 4.4 percent on-year.The net profit, however, dropped 30.5 percent from a year earlier and marked
Oct. 30, 2019