Most Popular
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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BTS-themed moon jar to be unveiled on Hangeul Day
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Samsung unveils 'personalized AI' for all devices
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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Market uncertain on Korea's October rate cut despite slowed inflation
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Special counsel bill to probe first lady scrapped
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Korean bands get their day in the sun, finally
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Coldplay to celebrate release ‘Moon Music’ with Han River drone show
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Samsung Securities exceeds 25,000 hours of foreign stock training
The combined training on foreign stock given to private banking managers at Samsung Securities surpassed the 25,000-hour mark, as part of their enhanced focus on raising global investment capabilities, the firm said Sunday. This means, an inidivual PB manager received an average of 30 hours of training. Private Banking managers of Samsung Securities pose for a photo at Twitter in San Francisco. (Samsung Securities)Samsung Securities sent their “Global PB Research Group” to Vietnam, Japan, and th
Nov. 25, 2018
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[Newsmaker] Size of Samsung equity funds nose-dive on pharmaceutical crisis
The size of equity funds operated by South Korean brokerage houses that invest in affiliates of Samsung Group nose-dived throughout this year, apparently as its pharmaceutical arm faced a crisis for its alleged accounting fraud, data showed Sunday.(Yonhap)According to the data compiled by market tracker FnGuide Inc., the market capitalization of the country's top 25 Samsung equity funds came to 1.7 trillion won ($1.5 billion) as of Thursday, down 523 billion won from the start of the year.Samsun
Nov. 25, 2018
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[From the Scene] Patent court lowers language barrier for foreign litigants
Korea’s judiciary system, especially its patent trial system, has long been noted for its advanced electronic procedure, relatively low litigation expenses and highly qualified human resources.But to further promote its global status and to appeal its forte to multinational businesses, one additional factor was required -- a multilingual pleading process for foreign litigants, according to the Patent Court of Korea.The Patent Court on Friday held an English pleading for foreign litigants, markin
Nov. 23, 2018
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Han Sung Motor’s scholarship recipients showcase works at craft fair
Recipients of a scholarship program run by Han Sung Motor, the largest official dealer of Mercedes-Benz here, are participating in a local craft fair that runs through Sunday, the company said Friday.The Craft Trend Fair being held at Coex in Samseong-dong, Seoul, is hosted by the Ministry of Culture to promote the nation’s craft culture and introduce aspiring artists. Works by Dream Gream scholarship recipients are displayed at Han Sung Motor’s booth at the Craft Trend Fair that runs through Su
Nov. 23, 2018
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Agoda says corrective order on its refund policy will restrict consumer rights
Online hotel booking platform Agoda said Friday that the South Korean corporate watchdog's recent order to revise its refund policy will result in the restriction of consumer choices.On Wednesday, the Fair Trade Commission ordered Agoda and Booking.com -- brands under global online travel firm Booking Holdings Inc. -- to revise their policies which ban refunds for certain products regardless of the reservation date. (Yonhap)"The accommodations available on the Agoda app and website are already o
Nov. 23, 2018
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[Newsmaker] SK Group chief gifts 3.29 million SK Corp. shares to kin
SK Group Chairman Chey Tae-won has given his kin a total of 3.29 million shares of SK Corp., a holding company that controls the nation’s second-largest conglomerate, the company said in a statement Friday. The chairman has given half of the 3.29 million shares, or 1.66 million shares, to his younger brother Chey Jae-won, who currently serves as executive vice chairman, and a quarter of the total shares, or 830,000 shares, to his cousin SK Networks Chairman Choi Shin-won and his family members.
Nov. 23, 2018
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Air Busan to go public on Kospi in Dec.
South Korean low-cost carrier Air Busan said Friday that it will go public on the country’s main Kospi bourse next month.Air Busan said it will submit an application for the listing of its stock to the Financial Supervisory Service and decide the final stock price by mid-December. Air Busan is one of two budget affiliates of full-service carrier Asiana Airlines. The other is Air Seoul.According to the company, with the IPO it aims to raise 18.7 billion won ($16 million) to 20.8 billion won at 3,
Nov. 23, 2018
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Korean government to order 140 LNG ships by 2025
The Korean government will order 140 liquefied natural gas ships, worth 1 trillion won ($880 million), from the nation’s small and midsized shipbuilders by 2025, and provide 1.7 trillion won in financial assistance, officials said Friday.“In order to set small and midsized shipbuilders apart from their rivals from China and Japan, it is necessary for them to be first movers in the eco-friendly shipbuilding market,” said Yoon Sung-hyuck, chief of the Ministry of Trade, Industry and Energy’s shipb
Nov. 23, 2018
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Samsung pledges to compensate work-related victims by 2028
Samsung Electronics on Friday pledged financial compensation for all victims of work-related diseases who fell sick after working for the company’s semiconductor division, by 2028, admitting that it had overlooked potential health risks.“Samsung will comply with the compensation plan set by the mediation committee, and will provide the compensation as planned by Oct. 31, 2028 for all victims, including those who will be included as new victims by then,” said Kim Ki-nam, chief executive officer
Nov. 23, 2018
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Lotte Home Shopping seeks to emerge as world-leading media commerce firm
South Korean retail giant Lotte Group’s home shopping operator Lotte Home Shopping unveiled on Friday its plans to step up as a world-leading media commerce company by 2025. Lotte Home Shopping employees participate in a ceremony in Seoul to celebrate the company’s vision for the future. (Lotte Home Shopping)According to Lotte Home Shopping, it will strengthen its business fundamentals by developing its mobile shopping platform and will offer consumers an advanced shopping experience by introdu
Nov. 23, 2018
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Samsung delivers apology to victims of work-related diseases
Samsung Electronics Co. made a formal apology Friday to all victims of work-related diseases who were employed at the company's chip and display production lines, settling the long-standing dispute that lasted for more than a decade.Samsung Electronics President and CEO Kim Ki-nam, who heads the tech giant's crucial device solution division, expressed deep regrets on behalf of the company to the victims, claiming that Samsung will make every effort to comply with the compensation plan prepared b
Nov. 23, 2018
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Hyundai Motor Group pushing to list ICT service provider on local bourse
South Korean automotive conglomerate Hyundai Motor Group said Thursday it is moving to list its information and communications technology (ICT) affiliate on the local stock market in a bid beef up its overall competitiveness going forward. The business group said it submitted an application for a preliminary review for the listing of Hyundai AutoEver Corp. with the Korea Exchange, Seoul's main bourse operator. Hyundai AutoEver's headquarters in southern Seoul (Yonhap)The company, first set up in
Nov. 22, 2018
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Korean businesses demand right to purchase renewable energy
Samsung Electronics and 11 large South Korean companies pledged to expand the use of renewable energy and called for the creation of a system that would enable businesses to purchase renewable energy during an energy forum in Seoul on Thursday. The 12 companies, including Samsung Electronics, SK hynix, Shinhan Financial Group, KB Financial Group, Industrial Bank of Korea, AB InBev and Ikea Korea, announced in a joint statement, “We recognize the importance of companies’ responsibility and roles
Nov. 22, 2018
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Air Busan wins preliminary approval for IPO
Air Busan Co., one of South Korea's low-cost carriers, won approval on Thursday for its planned initial public offering on the country's main exchange, the bourse operator said. (Yonhap)After conducting a preliminary screening, the Korea Exchange said it found Air Busan suitable for going public on the KOSPI market.The approval cleared the way for the budget unit of Asiana Airlines Inc., the country's second-biggest full-service carrier, to debut on the market either in December or early next ye
Nov. 22, 2018
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Yuhan-Kimberly assists reforestation in Mongolia
Yuhan-Kimberly, a South Korean manufacturer of sanitary products, said it was joining forces with the Mongolian government to restore a forest and open an observatory tower there. According to the company, the work to restore deforested areas of Mongolia’s Tujin Nars forest began in 2003. The forest had sustained severe damage after two fires before the local government formally asked Yuhan-Kimberly to take part in the project in 2001.Since that time, over 10 million trees have been planted. An
Nov. 22, 2018
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[Weekender] Before you were born
Oh Ha-young, a 36-year-old mother of two in Seoul, remembers when she kept herself busy several years ago for the sake of her children, before they were even born. From knitting to drawing, she even endeavored to learn how to handle a sewing machine, which resulted in a number of handmade crafts during her two pregnancies between 2011 and 2013. “I learned in a prenatal education class that using my hands a lot could affect the brain development of a fetus,” she said. “My first child started to s
Nov. 22, 2018
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[Weekender] Prenatal care market becomes blue ocean for retailers, hotels
South Korea’s birthrate has been in free fall in the past several years, but either despite or because of this, the interest in prenatal care among mothers-to-be is on the rise. The result has been increased consumer demand for baby products and prenatal care services.The industries that are benefiting from the prenatal care market boom are retailers and hotels, with a rising number of customers looking for premium baby products or staycation products in line with the popular “babymoon” trips.Lo
Nov. 22, 2018
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Korea opens nuclear industry support center
South Korea opened a nuclear industry support center Thursday to back the local industry's efforts to tap into the global market and maintain the supply chain under the country's nuclear phase-out plan, the government said.Nuclear subsidiaries of the state-run Korea Electric Power Corp., including the Korea Hydro & Nuclear Power Co. and KEPCO Engineering & Construction Company Inc., as well as construction companies and parts makers, gathered for the opening of the center in southern Seoul. (Yon
Nov. 22, 2018
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Korea unveils measures for troubled smaller shipyards
South Korea announced Thursday a package of measures to help ease the hardships of small and mid-sized shipbuilders who are struggling from a lack of new orders.The shipbuilding industry, once a cornerstone of the South Korea's economic growth and job creation, has been reeling from mounting losses caused by an industrywide slump and increased costs. This file photo shows Shina Shipbuilding Co.`s abandoned yard in Tongyeong, South Gyeongsang Province. (Yonhap)Recently, South Korea's three major
Nov. 22, 2018
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Kia unveils interior images of SOUL box car
Kia Motors Corp., South Korea's second-biggest carmaker by sales, on Thursday unveiled interior photos of the upcoming third-generation SOUL box car after releasing an initial teaser image last week.The carmaker said the new version of SOUL will debut at the Los Angeles auto show later this month before it is launched in the domestic market early in 2019. Shown in this image, released by Kia Motors Corp. on Nov. 22, 2018, shows the new steering wheel used on the next-generation SOUL box car. (Yo
Nov. 22, 2018