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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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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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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'Will AI steal my job?' Koreans among nationalities feeling most threatened by AI
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Under growing pressure to boycott coal, banks face ‘client dilemma’
South Korea’s leading commercial banks face a growing dilemma, caught between the interests of clients that generate power from coal and a global drive for coal-free financing. While their loan volume continues to grow in both the coal and renewable energy sectors, pressure is building on Korean lenders to shift their investment rules toward decarbonization.(Yonhap)According to industry data submitted to the National Assembly, the country’s four major commercial banks -- Shinhan, KB Kookmin, KEB
May 21, 2019
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VCs, accelerators and entrepreneurs share insights on startup ecosystem
DAEJEON--Government officials, investors, and startup CEOs flocked to Daejeon City, the nation’s fifth-largest city, on Tuesday to participate in EXIT Daejeon 2019, a startup conference being held from Tuesday to Thursday.At Daejeon Convention Center, the main venue of the conference, fledgling startup CEOs took the stage to pitch disruptive ideas in front of a panel of judges early in the morning Tuesday.The Investor Editor-in-Chief Kim Ji-hyun (from left) and panelists -- Slush Head of VC Moaf
May 21, 2019
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Finding right people is key to growth of startups: Slush CEO
DAEJEON -- Slush, which first started as a small nonprofit event for startups in Finland in 2008, has grown into one of the leading events where investors, government officials and entrepreneur wannabes rub shoulders and discuss how to bring disruptive ideas to life.Andreas Saari, Slush head and CEO of Wave Ventures, the first student-run venture capital fund in the Nordic region, said market conditions in Finland have become more favorable for startups since the establishment of the startup con
May 21, 2019
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SK Group comes up with way to measure firm’s social contribution
Since returning to office in 2015, SK Group’s chief Chey Tae-won has come up with what appears to be an unorthodox business philosophy: Boosting social contribution is the best way to maximize corporate profits. While this has been raised at public events, including a meeting with global business leaders at the World Economic Forum in Davos, doubts have persisted over whether it is possible to quantitatively assess the company’s contribution to society. For the first time since it began to cr
May 21, 2019
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Korean startups get support from state-led incubation program
The South Korean government has been running the Accelerator Investment-Driven Tech Incubator Program for Startups, or TIPS, with public and private sector partners, to discover and nurture promising startups Startups under three years old are eligible to apply for the program led by the Ministry of SMEs and Startups. Each selected team is eligible to receive up to 1 billion won ($838,000) in funding, used as seed capital, research and development expenses or marketing fees.For years, the progra
May 21, 2019
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Amorepacific prioritizes women’s health for CSR
As a beauty giant built mainly on the needs and wants of women, Amorepacific’s corporate social responsibility project “20 by 20” aims at empowering 200,000 women by the year 2020, the company explained Tuesday. Since announcing the commitment in 2017, the company has been investing 7 billion won every year into two of its major CSR campaigns on women’s health-- “Pink Ribbon Campaign” and “Make Up Your Life Campaign.”Pink Ribbon Campaign focuses on awareness and prevention of breast cancer, one
May 21, 2019
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Unity, Samsung collaborate for mobile gaming on Galaxy smartphones
Game developing engine house Unity Technologies announced a developer-focused growth direction and collaborative project with Samsung Electronics’ latest Galaxy mobile devices at the “Unite Seoul 2019” event Tuesday at Coex in Seoul. Games developed using Unity Engine will be better on “our smartphone devices with adaptive performance” feature, Samsung senior researcher Kim Jeong-woo said at a press event.Galaxy S10 and Galaxy Fold will come with the latest feature, while former Galaxy models wi
May 21, 2019
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Number of insect companies on rise in S. Korea
The number of South Korean companies raising or processing insects for foodstuffs, pets and other purposes grew threefold in 2018 from three years earlier, data showed Tuesday.According to the data compiled by the Ministry of Agriculture, Food and Rural Affairs, the number of insect companies in the country came to 2,318 as of last year, rising sharply from only 726 posted in 2015.The ministry said the figure increased sharply on-year in 2016 and 2017 after the government officially recognized s
May 21, 2019
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Game industry holds breath for this week’s WHO decision on gaming disorder
The South Korean gaming industry is waiting on tiptoes for the impending final decision of the World Health Organization on whether to classify video game addiction as a disease. The World Health Assembly, the decision-making body of the WHO, will convene from Monday through May 28 in Geneva, Switzerland, to discuss various policy matters, including the question of game addiction. The WHO classified video game addiction as a disorder in the 11th Revision of the International Classification of Di
May 20, 2019
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Supporting promising startups from birth to exit
The Korea Institute of Startup and Entrepreneurship Development, a subsidiary of the Ministry of SMEs and Startups, recently advertised for a total of 850 promising startups boasting advanced technology but lacking investment. In an announcement earlier this month, the institute vowed to back the selected startups so that they can better attract investment, pioneer markets, protect technologies and develop prototypes. Each company will also be funded up to 100 million won and supported by 53 sel
May 20, 2019
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[Behind the Brand: 1] Lotte inspired by a Goethe heroine; Naver helps us navigate
What’s in a name? For the tragic heroine of “Romeo and Juliet,” names may not have been all that important. But for a company brand, a name holds great significance.It’s an important aspect of a brand’s identity, often reflecting the vision and philosophy behind the brand. Consumers often judge the quality of a product by the brand name alone, and names can influence brand loyalty. Some brand names are derived from the name of a founder -- take Baskin-Robbins for example. Others are more abstrac
May 19, 2019
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Samsung vice chairman meets execs of Japanese mobile carriers
Samsung Vice Chairman Lee Jae-yong recently met officials from Japanese mobile carriers to discuss possible collaboration on the fifth-generation (5G) network segment, industry sources said Sunday.According to the sources, Lee traveled to Japan last week and visited the headquarters of NTT Docomo Inc. and KDDI Corp., and exchanged ideas over the 5G business with officials from the two mobile carriers.The meeting occurred as Japan is preparing to launch full-fledged 5G services, which are expecte
May 19, 2019
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Initial LG V50 sales far outperform predecessor in S. Korea
LG Electronics' first 5G smartphone, the V50 ThinQ, was well-received in its first week on sale in South Korea, thanks to carriers' high subsidies and promotional events, according to industry sources Saturday.LG's V50 went on sale on May 10 priced at 1.2 million ($1,000), becoming the second 5G smartphone in South Korea following the 5G version of Samsung's Galaxy S10 released last month. A model holds up an LG V50 ThinQ at a shop in Seoul on May 10 2019. (Yonhap)Over 100,000 V50s were sold in
May 18, 2019
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Seoul analyzing Washington's auto tariff delay decision: official
South Korea is analyzing whether the country was granted an auto tariff relief from Washington or not, as its decision to delay the steep tariffs did not clearly mention it, Seoul's senior official said Saturday.On Friday (US time), US President Donald Trump said he will put off the decision to impose tariffs of up to 25 percent on imported autos and parts by up to six months as negotiations get under way with Japan and the European Union. (Yonhap)Washington earlier vowed to review levying dutie
May 18, 2019
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Ministry approves sale of portable oxygen tank as quasi drug
The Ministry of Food and Drug Safety on Friday approved the sale of a portable oxygen tank by a local company, recognizing the product as a quasi drug for the first time. O2 Land’s new portable oxygen tank is the first case granted approval by the ministry since regulations on respiratory products were tightened in 2017.The government has redefined products that directly come into contact with the human respiratory system as “quasi drugs” after it emerged that toxic humidifier disinfectants had
May 17, 2019
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SK Group invests $1b in Vietnam’s largest privately owned group, Vingroup
SK Group is investing $1 billion in Vietnam’s largest privately owned group, the Vingroup Joint Stock Company, adding momentum to its business expansion in the Southeast Asian country, company officials said Thursday.South Korea’s third-largest conglomerate signed a deal in Hanoi to acquire 6.1 percent of the Vietnamese group’s shares at $1 billion, or 23.3 trillion Vietnamese dong, making it the largest shareholder. The transaction has yet to be confirmed, pending the customary regulatory appro
May 16, 2019
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Korean car industry relieved over Trump’s delay on car tariffs
Following news reports that the US is set to delay its decision on auto tariffs, the Korean car industry heaved a sigh of relief, with their stocks surging in the morning. At 9:06 a.m., the nation’s largest automaker Hyundai Motor’s stock traded as high as 44,300 won ($37), up 5.6 percent from the previous day. Kia Motors’ shares went up as high as 6.32 percent, and Hyundai Mobis’ shares rose 3.99 percent. (Yonhap)A day earlier, US media outlets reported that US President Donald Trump is set to
May 16, 2019
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KITA sets up advisory panel on trade in Washington
The Korea International Trade Association announced Thursday that it has established an advisory panel comprising experts in Washington to help businesses deal with changing US economic policies and create a favorable sentiment toward South Korea.The inauguration ceremony was attended by a delegation of 16 businesses including Posco, Seah Steel and Hyundai Motor, along with KITA Chairman Kim Young-ju. The attendees included Terry Miller, director of the Center for International Trade and Economi
May 16, 2019
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Celltrion pledges to invest W40tr, create 110,000 jobs by 2030
Celltion Chairman Seo Jung-jin announced Thursday the biopharmaceutical group will invest 40 trillion won ($33.6 billion) and create some 110,000 jobs by 2030 to establish itself as a global leader.Speaking at Incheon City Hall, Seo pitched the future of making South Korea the hub of global biopharma industry, with a global health care logistics network. Celltrion, headquartered in Songdo, Incheon, will collaborate with local governments such as Incheon and North Chungcheong Province to build a
May 16, 2019
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[Newsmaker] Renault Samsung, union sign tentative deal over wages
Renault Samsung Motors Corp. and its labor union said Thursday they have reached a tentative agreement over wages and working conditions, possibly ending their drawn-out labor dispute that was feared to undermine the automaker.The union said its members will vote on whether to accept the deal on Tuesday.The company and the union began negotiations in June last year to sign a wage and collective agreement deal. (Yonhap)The company has wanted to maintain a certain output level at the plant by sec
May 16, 2019