Most Popular
-
1
Military aircraft evacuating S. Koreans in Lebanon returns home
-
2
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
3
Yoon set for talks with Marcos in Philippines
-
4
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
5
Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
-
6
2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
-
7
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
8
Can Jennie break the K-pop solo artist slump?
-
9
Firefighters’ 3,000 won meals spark nutrition concerns
-
10
From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
-
Service output down in restructuring-hit region: data
The South Korean industrial city of Ulsan suffered a setback in service output and retail sales in the second quarter due to lingering effects of massive corporate restructuring, data showed Thursday.Service output in Ulsan -- home to shipbuilder Hyundai Heavy Industries Co. and Hyundai Motor Co. -- fell 0.3 percent in the April-June period from a year earlier.Retail sales in the southeastern industrial city declined 1.2 percent, marking the fifth straight quarter that retail sales have fallen.T
Aug. 8, 2019
-
Moody's puts SK Innovation on negative outlook
Moody's Investors Service on Wednesday changed SK Innovation Co.'s rating outlook to negative from stable due to the firm's large leveraged spending and dividends. Moody's holds a Baa1 rating for SK Innovation, South Korea's biggest refiner by sales. "The change in SK Innovation's outlook to negative reflects our expectation that the company's financial metrics will deteriorate significantly over the next 1-2 years, mainly because of large debt-funded ca
Aug. 7, 2019
-
Yuhan launches subsidiary in Australia
South Korean pharmaceutical giant Yuhan has established a subsidiary in Australia to expand its global clinical network and drug development pipelines. The subsidiary, Yuhan ANZ, was launched in June. Some 2 billion won ($1.6 million) was reportedly invested for the project. The company said Australia is one of the countries with bright prospects for the pharmaceutical market, given its increasing demand for medical products. “Launching a subsidiary in Australia is a part of our
Aug. 7, 2019
-
LG H&H CEO leads biggest market cap growth
Local corporate tracker CEO Score revealed Wednesday that among CEOs of major listed companies in South Korea, LG Household & Health Care Vice President Cha Suk-yong raised the market cap of the company by the largest margin during his tenure. According to CEO Score, LG H&H’s market cap was valued at 435.7 billion won ($358.6 million) in January 2005, when Cha was first appointed as the CEO, but rose to 19.63 trillion won as of end-July, a whopping 4,405.4 percent increase in 14.6
Aug. 7, 2019
-
Asiana Airlines to suspend flights on Busan-Okinawa route
Asiana Airlines Inc. said Wednesday it will suspend flights on the Busan-Okinawa route later this month due to falling demand stemming from a trade row between South Korea and Japan. A series of Tokyo's export curbs on Seoul has sparked a "Boycott Japan" campaign here against travel to the neighboring country and purchases of Japanese products. Asiana said flights departing from the southeastern port city of Busan for Japan's southern resort island of Okinawa will be suspended starting
Aug. 7, 2019
-
KT Q2 net down 33% on increased 5G investment
KT Corp. said Wednesday its net profit sank 33.4 percent in the second quarter from a year earlier as it ramped up spending on its 5G network and marketing. The South Korean telecom provider posted 139.7 billion won ($115 million) in net profit in the April-June period, compared with 209.9 billion won a year ago. Its operating profit dipped 37.9 percent on-year to 191.1 billion won, while sales rose 6.4 percent to 4.5 trillion won in the three-month period, the firm said in a financial statement
Aug. 7, 2019
-
Domestic carriers jittery over Korea-UAE aviation talks
South Korea’s aviation industry is on the edge with the aviation talks this week between South Korea and the United Arab Emirates, over the latter’s demand to double the route allocation.During the summit being held on Wednesday-Thursday in Abu Dhabi attended by Korea’s Transport Ministry officials, their UAE counterparts are likely to request increasing the Incheon-Dubai and Incheon-Abu Dhabi routes up to 14 times a week, according to industry sources.Their previous talks in J
Aug. 7, 2019
-
Asiana Airlines makes emergency landing to save 8-year-old passenger
An Asiana Airlines flight bound from New York to Seoul last month made an emergency landing when an 8-year-old passenger suddenly fell ill, according to the air carrier on Tuesday. The decision allowed for the fast transportation and treatment of the girl, who has since recovered.According to Asiana, the passenger, identified by her surname, Choi, was on flight OZ221 from New York to Incheon Airport for a visit to South Korea with her family. About an hour and 30 minutes into the trip, Choi sudd
Aug. 6, 2019
-
Japanese cities ask S. Korean LCCs to retain flight routes
Several Japanese local governments have asked South Korean low-cost carriers to retain flight routes to Japan amid a rising boycott of travel to the neighboring country, industry sources said Tuesday.High-level delegations from Japanese cities and prefectures, including Takamatsu City, recently visited such South Korean budget carriers as Air Seoul, Jeju Air and Eastar Jet to make such requests.Those Japanese local governments also proposed a variety of cooperative projects in a bid to win the h
Aug. 6, 2019
-
Moon’s policy aide to meet top corporate brass over Japanese concerns
Kim Sang-jo, chief state policy secretary of South Korean President Moon Jae-in, will discuss the countermeasures against any negative impact of Japan’s trade restrictions with the top brass of the country’s five biggest conglomerates this week, according to Cheong Wa Dae on Monday. The meeting will most likely take place on Thursday, according to news reports. “The date is flexible,” said Kim, adding that it is yet to be finalized. The five conglomerates include Sa
Aug. 5, 2019
-
S. Korea to invest in 100 key strategic items for stable supply
South Korea said Monday it will invest 7.8 trillion won ($6.47 billion) in 100 key strategic items to create a stable supply by 2024, in the latest move to cope with Japan's economic retaliation. "We will upgrade the competitiveness of the materials, parts and equipment industries," Hong Nam-ki, minister of economy and finance, said in a meeting with officials in Seoul.Last week, Japan decided to remove South Korea from a list of countries subject to preferential trade status in appare
Aug. 5, 2019
-
Forever Living aims to appeal to Korean customers with high-quality aloe vera products
Arizona-based aloe vera manufacturer Forever Living aims to appeal to Korean customers with high-quality products and marketing of its aloe vera-based health and diet supplements.Forever Living -- the largest aloe vera retailer in the world with 4 trillion won ($3 billion) in annual sales -- entered Korea in 1988.The company has a presence in dozens of countries, with its aloe vera products ranging from cosmetics to health and diet supplements. It also runs Forever Nutraceutical, a researc
Aug. 4, 2019
-
How will import process change with Japan’s whitelist exclusion of Korea?
South Korean manufacturers of cutting-edge electronic components are likely to face increasing costs and burden of securing hi-tech materials and parts from Japan following the decision to remove the country from its whitelist of entrusted trade partners. Korean companies that purchase any of the 1,115 items designated as strategic materials from Japan will now be required to submit extra documents including export approval, the final users’ covenants and reasons for imports. As many
Aug. 4, 2019
-
Japan’s auto parts makers fined W92b over price fixing, reported to prosecutors
Japan’s four-largest automobile parts makers were fined a combined total of 92 billion won ($76 million) by South Korea’s antitrust watchdog for fixing the prices of auto parts, officials said Sunday. According to the Fair Trade Commission, four Japanese car parts firms had fixed prices in collusion when selling alternators and ignition coils to local automakers for 10 years. The four companies included Mitsubishi Electric and Hitachi Automotive Systems, which were fined 80 billion w
Aug. 4, 2019
-
Beauty store chain fined over unfair biz practice
South Korea's antitrust regulator said Sunday that it has fined CJ Olive Networks Co. 1 billion won ($837,000) for violating the fair transactions law.The operator of Olive Young, a leading health and beauty store chain, is accused of returning goods worth about 4.1 billion won to its suppliers without justifiable reasons between January 2014 and July 2017, according to the Fair Trade Commission. The law stipulates that a large franchise and retail business operator should not return goods witho
Aug. 4, 2019
-
S. Korean minister demands Japan withdraw trade curbs at 16-nation trade talks
South Korea's trade minister said Saturday that she demanded Japan "immediately withdraw" trade curbs against Seoul at a meeting aimed at forging a 16-nation free trade deal. Trade Minister Yoo Myung-hee told reporters that she raised the matter at the two-day meeting in Beijing of the Regional Comprehensive Economic Partnership (RCEP), a proposed 16-nation free trade bloc."I called on Japan to immediately withdraw the export curbs," Yoo told reporters.Yoo also emphasized tha
Aug. 4, 2019
-
S. Korean conglomerates' H1 profits down 40%
South Korea's top business groups saw their operating profits dip a whopping 40 percent in the January-June period from a year earlier, market data showed Sunday, due mainly to weak performances of major tech brands such as Samsung and SK.The combined operating profit of 55 of the top 100 listed firms that announced their first-half operating profits came to 42.8 trillion won ($35.6 billion), falling sharply from 71.1 trillion won posted a year earlier, according to the data compiled by industry
Aug. 4, 2019
-
S. Korea to exclude Japan from trade whitelist in retaliation
South Korea plans to exclude Japan from its own whitelist in response to Tokyo’s decision on Friday to remove as a preferred trading partner, as bilateral relations have slumped to the lowest levels since normalizing diplomatic ties in 1965.“The government will resolutely take corresponding measures against Japan’s unjust economic retribution. ... As we have warned earlier, if (Japan) intentionally hits our economy, it must be prepared for greater damages,” President Moon
Aug. 2, 2019
-
SK Telecom’s operating profit slips 7% in Q2
SK Telecom said Friday its operating profit fell due to increased spending for 5G service marketing and infrastructure buildup.Its operating profit came to 322.8 billion won ($270.7 million) in the April-June period, a 6.9-percent fall from a year ago, the nation's leading mobile carrier said in a regulatory briefing. SKT said its sales gained 6.8 percent on-year to 4.4 trillion won, led by solid profit growth from its media business.The firm's net income tumbled 71.7 percent to 259.1 billi
Aug. 2, 2019
-
S. Korea’s imports of 857 items to come under Japan’s tighter permit system
Following Japan’s decision on Friday to delist South Korea from its whitelist of trusted trade partners, domestic companies importing 857 items including hi-tech materials will come under tighter rules for export approval. The items categorized as “nonsensitive” in the list of Japan’s strategic materials include precision machine tools and fine chemical products, such as functional films and adhesives, as well as carbon fiber which is used to produce aircrafts and au
Aug. 2, 2019