Most Popular
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Slew of top K-pop stars ready to return from military
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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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Kia reveals teaser image of SOUL box car
Kia Motors Corp., South Korea's second-biggest carmaker by sales, on Thursday unveiled the teaser image of its SOUL box car ahead of its domestic launch early next year. A teaser image of Kia Motors` SOUL box car (Yonhap)The third-generation SOUL will make a debut at the Los Angeles auto show later this month before it is launched in the domestic market early in 2019, Kia said in a statement. "With the launch of the new SOUL, we are targeting a gain in our share of the domestic entry car markets
Nov. 15, 2018
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Ctrip again deletes group tours to Korea from website
SEOUL/BEIJING -- Ctrip, a leading travel agency in China, has deleted tour programs to South Korea, its website showed Thursday, in what could be a sign of a lingering row between the two neighbors over a US missile defense system.The deletion came just hours after the company restarted online marketing of related products on its website Wednesday. Chinese firms usually toe the government line on sensitive issues."Ctrip seems to have deleted the tours after it drew attention," an industry source
Nov. 15, 2018
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Hanwha Q Cells to supply solar modules to Chinese plant
Hanwha Q Cells Co., the world's top solar cell maker, said Thursday it has signed a deal with a Chinese state firm to supply high-efficiency solar modules for its solar power project.The contract calls for Hanwha Q Cells to provide its Q.PEAK modules with a capacity of 100 megawatts for China General Nuclear Power Corp.'s solar power facility under construction in Tongshan in central-eastern China and slated for completion by year-end. (Yonhap)Hanwha Q Cells didn't disclose the financial terms o
Nov. 15, 2018
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Govt. fines Jeju Air W9b for lithium ion batteries
The government on Thursday imposed a fine of 9 billion won ($7.9 million) on Jeju Air Co., South Korea's biggest budget carrier by sales, for carrying lithium ion battery-powered watches. The Ministry of Land, Infrastructure and Transport has finalized the penalty to be slapped on the low-cost carrier after it was discovered to have brought in wrist watches from countries like Hong Kong between April and May, a ministry spokesman said. (Yonhap)The final decision comes after Jeju Air asked the m
Nov. 15, 2018
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Samsung seeks to take up 20% of global 5G network equipment in 2020
Samsung Electronics Co. aims to control 20 percent of the global market for fifth-generation network equipment in 2020, the head of the company's network business has said.During a session from The Wall Street Journal D.Live Conference held in California on Wednesday, Samsung Electronics President Kim Young-ky claimed that the company is not a newcomer to the network equipment industry as it has been supplying products in this field for the past 20 years.Samsung Electronics President Kim Young-k
Nov. 15, 2018
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Samsung, LG to offer major discounts in US to mark Black Friday
Samsung Electronics Co. and LG Electronics Inc. plan to offer major discounts for their high-end televisions in the United States to mark Black Friday, the companies said Thursday.Samsung Electronics said it will offer large-scale discounts for 14 different models of 4K QLED smart TVs in the US, with the price tag on the 75-inch QLED Q6FN TV standing at $2,000, down 43 percent from the original price of $3,500. The 82-inch model of the same product will boast a discount of 33 percent. (Yonhap)Th
Nov. 15, 2018
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CJ emerges as No. 1 employer among top conglomerates
Food and entertainment giant CJ Group has emerged as the largest employer among the top 30 business groups in South Korea over the past year, a corporate tracker said Thursday.CJ's workforce stood at 26,565 as of the end of September this year, up 28.2 percent, or 5,849 employees, from a year earlier, according to a report from CEO Score, which tracks corporate management. (Yonhap)SK Group came next by adding 5,239 workers to its payroll (up 9.4 percent) over the cited period, trailed by leading
Nov. 15, 2018
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[Newsmaker] US government: 3 Korean firms to pay $236m in bid-rig plot
WASHINGTON (AP) — The Justice Department says three South Korean companies have agreed to pay $236 million to settle allegations they were part of a bid-rigging scheme that overcharged the US military for fuel at bases in South Korea.Assistant Attorney General Makan Delrahim announced the settlement of the criminal and civil charges on Wednesday.(AP)The three companies, SK Energy Co. Ltd., GS Caltex Corporation, and Hanjin Transportation Co. Ltd., will pay about $82 million in criminal fines. Th
Nov. 15, 2018
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Samsung BioLogics suspended from stock market over accounting fraud
South Korea’s financial regulator on Wednesday halted the stock trading of Samsung BioLogics upon ruling that it had intentionally violated accounting rules in 2015 to exaggerate its profits ahead of market listing.The biopharmaceutical company -- affiliated with the nation’s largest conglomerate, Samsung Group -- will now face an examination that could potentially result in delisting.“We have concluded that Samsung BioLogics arbitrarily interpreted the accounting rules and intentionally breache
Nov. 14, 2018
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Big 5 automakers, parts makers meet to tackle slump
Representatives of South Korea's major automakers, parts makers and industry officials gathered in Seoul on Wednesday to discuss ways to breathe new life into the sluggish auto industry.The chief executives of the big five automakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Company Ltd., Renault Samsung Motors Co. and Ssangyong Motor Co. -- and their local parts makers and industry associations explored ways to tackle daunting challenges facing the industry. Sung Yun-mo, South Korea`s mi
Nov. 14, 2018
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[Photo News] Hanwha Galleria sets up Christmas tree for children under treatment
WISH TREE -- A child stands next to a wish tree set up by Hanwha Galleria and the Make-A-Wish Korea foundation at Seoul National University Children’s Hospital in central Seoul, Tuesday. The Christmas event, the first of its kind to be organized by the company, is intended to help children under treatment to celebrate the holiday season by offering gifts to those participating, according to Hanwha Galleria. (Yonhap)
Nov. 14, 2018
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[Herald Interview] TMON envisions creating ‘online malling’ experience
In a country where savvy shoppers order anything from fresh food to a pair of shoes at a touch via mobile applications, low prices or fast delivery are no longer triggers to purchase. Growing consumer needs are now shifting toward people purchasing products they cannot afford to miss, such as via flash deals or limited sales.Ticket Monster, or TMON, a first-generation e-commerce company established in 2010, is one of those leading the e-commerce scene in Korea.TMON’s Monster Deal, which sells a
Nov. 14, 2018
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SK Innovation selected as battery supplier for VW Group
SK Innovation has been selected as a supplier of battery cells for electric vehicles of German automaker Volkswagen Group, becoming the group’s third partner, along with LG Chem and Samsung SDI, according to SK Innovation on Wednesday. (AP/Yonhap)Under the automaker’s road map “E,” Volkswagen plans to unveil 50 types of electric cars by 2025, based on its MEB platform, a modular car platform for electric cars developed by the group and its subsidiaries. It will need battery capacity of over 150
Nov. 14, 2018
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Naver Labs, SoCar partner for self-driving technologies
Naver Labs, the research and development arm of search engine giant Naver, and local car-sharing firm SoCar have signed an agreement to cooperate in the development of driver assistant technologies and detailed maps based on self-driving technologies, according to the firms on Wednesday. Under the agreement, Naver Labs will be in charge of developing an advanced driver-assistance system and detailed maps, to contribute to the safety of SoCar drivers. An advanced driver-assistance system has safe
Nov. 14, 2018
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Watchdog to sue Samsung chairman over deliberate law violation
South Korea's corporate watchdog said Wednesday that it has decided to sue Samsung Electronics Chairman Lee Kun-hee as the country's largest conglomerate deliberately failed to submit related documents regarding affiliates to the authorities.According to the Fair Trade Commission, Samsung Group omitted two firms effectively under its wings from the list of its affiliates to the corporate watchdog in 2014. (Yonhap)The country's major business groups had been under tight mutual investment and loan
Nov. 14, 2018
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Asiana partners with Spanish airline to improve services on Europe routes
Asiana Airlines Inc. has partnered with Barcelona-based Vueling Airlines S.A. to provide better services on routes to Europe, the company said Wednesday. (Yonhap)Under the partnership, Asiana will share 271 routes, mainly to Paris, Rome and countries near the Mediterranean Sea operated by the low-cost airline in Europe, the South Korean company said in a statement."The partnership will help boost travel demand from South Korea to European countries using flights on Vueling Airlines," a company
Nov. 14, 2018
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Celltrion Healthcare eyes sales unit in Europe
Celltrion Healthcare Co., an affiliate of South Korea's leading biosimilar maker Celltrion Inc., will set up a sales unit in Europe to generate stable revenue from biosimilars, its CEO has said.Celltrion Healthcare, which handles Celltrion's overseas business, resorts mainly on local partners for overseas sales of Celltrion's biosimilars, or cheaper generic versions of the pricey patented drugs. (Yonhap)"The company is preparing for direct sales of biosimilars in Europe," Celltrion Healthcare
Nov. 14, 2018
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[Newsmaker] Samsung to deliver apology on work-related diseases next week
Samsung Electronics Co. plans to deliver an official apology on the long-standing dispute surrounding its former workers suffering from diseases apparently related to the working environments at its factories, the mediation committee said Wednesday.The apology is part of the agreement reached between one of the world's leading makers of chips and Supporters for the Health and Rights of People in the Semiconductor Industry, a group of victims suffering from various illnesses such as leukemia afte
Nov. 14, 2018
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Budget carriers' int'l traffic to take off in 2019
Low-cost carriers in South Korea are expected to continue their rapid growth and see international passenger traffic soar nearly 20 percent in 2019, a report said Wednesday.According to the report from the Korea Transport Institute, local budget carriers' combined international passenger traffic will likely shoot up 19.6 percent on-year to 30.4 million next year. (Yonhap)South Korean low-fare airlines have posted stellar performances in terms of international passenger traffic over the past five
Nov. 14, 2018
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Korean Air Q3 net more than quadruples on long-haul demand
Korean Air Lines Co., South Korea's flag carrier, said Tuesday its third-quarter net profit more than quadrupled compared to a year earlier on increased demand for long-haul routes.For the three months that ended on Sept. 30, net profit jumped to 257.25 billion won ($227 million) from 61.63 billion won a year earlier, Korean Air said in a statement.In May, Korean Air and Delta Air Lines, Inc. launched a joint business to allow Korean passengers to use multiple routes when traveling to the United
Nov. 13, 2018