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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Market uncertain on Korea's October rate cut despite slowed inflation
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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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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Lee Jae-yong’s lip balm ‘closed’ before camera
Is it the massive media attention he received for his copious use of lip moisturizer that’s making him shy? Samsung Electronics Vice Chairman Lee Jae-yong was seen reaching for a dab of his lip balm, but upon noticing a camera filming him, Lee withdrew his outstretched pinky, stony-faced.Lee was spotted with his ever-famous lip balm at the May Day Stadium in Pyongyang, where he was attending the Mass Games next to SK Group Chairman Chey Tae-won as part of a group of South Korean chaebol leaders
Sept. 20, 2018
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Korean trade minister says US-China trade dispute 'new normal'
South Korea's trade minister Thursday urged local companies to develop high-value-added technologies and seek new growth drivers to embrace the protracted trade tension between the United States and China, calling it a "new normal."Kim Hyun-chong expressed worries over the changing trade environment after Washington imposed a third wave of tariffs on $200 billion worth of Chinese goods and China responded with $60 billion duties on US imports. The US tariff is set at 10 percent and will rise to
Sept. 20, 2018
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S. Korean chaebol to mull NK biz opportunities upon return
South Korean business moguls are expected to start considering potential business projects in North Korea after their Pyongyang trip, according to the industry on Wednesday. According to news reports, the chiefs of the country’s three-biggest family-run conglomerates -- Samsung Electronics Vice Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo and 14 others -- are expected to hold meetings with top executives on the results of the trip after arriving in Seoul
Sept. 19, 2018
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Hyundai Engineering bolsters business in Indonesia
Hyundai Engineering signed memorandums of understanding with Indonesian officials on the expansion of its industrial facilities and the construction of a hydroelectric power plant there, an effort to increase its presence in the country’s growing market, the company said Wednesday.The industrial facilities specialize in the production of vinyl chloride monomer and polyvinyl chloride. “Based on our experience with the perfectly constructed Asahimas vinyl chloride monomer production plant in Indon
Sept. 19, 2018
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[News Analysis] North’s willingness to denuclearize raises hope for economic cooperation of two Koreas
With North Korea reaffirming its willingness to denuclearize, such as by agreeing at the third inter-Korean summit Wednesday to allow in nuclear inspectors, expectations have been raised for economic cooperation between the two Koreas, including the resumption of operations at a joint industrial park and the connection of railways.At a joint news conference in North Korea on Wednesday, the two leaders, Moon Jae-in and Kim Jong-un, vowed to end hostilities and move toward a nuclear weapons-free p
Sept. 19, 2018
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Paradise Culture Foundation chairwoman wins Montblanc Arts Patronage Award
Choi Yoon-jung, chairwoman of the Paradise Culture Foundation under the resort complex operator Paradise Group, was given Montblanc’s Arts Patronage Award on Tuesday. From left: Montblanc Cultural Foundation Chairman Sam Bardaouil, Paradise Culture Foundation Chairwoman Choi Yoon-jung, Montblanc Korea Managing Director Eric Edder and Montblanc Cultural Foundation Chairman Till Fellrath pose during Montblanc’s Arts Patronage Award ceremony at Paradise City, Incheon, Tuesday. (Paradise City)The a
Sept. 19, 2018
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Celltrion ‘undecided’ on Plant No. 3 location, denies Singapore selection
South Korean biopharma company Celltrion said Wednesday it was “undecided” on the location for its third biologics manufacturing plant, denying a local report that alleged the company had confirmed Singapore as the final location for the new facility.“Celltrion is currently wrapping up steps to add 50,000 liters of expanded capacity to its first plant based in Songdo, Incheon. At this point, we’d like to clarify that nothing has been decided on the location of the third plant,” Celltrion said in
Sept. 19, 2018
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Leaders agree to reconnect railways, roads, normalize Kaesong operations
The leaders of the two Koreas agreed Wednesday to hold a groundbreaking ceremony to link roads and railways within the year, in a move affirming willingness to resume business cooperation “to develop the nation’s economy in a balanced manner” on the Korean Peninsula. The two sides also agreed to normalize stalled operations of the Kaesong industrial park and the Kumgangsan tour program “as conditions ripen.”“The two sides agreed to pursue substantial measures to further advance exchanges and coo
Sept. 19, 2018
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Cigarette sales down 1.1% on campaign, higher prices
Sales of cigarettes in South Korea declined 1.1 percent in the first eight months of 2018 from a year earlier due to a government-led anti-smoking campaign and higher prices, data showed Wednesday.South Korean smokers purchased 2.31 billion 20-cigarette packs in the January-August period, compared with the previous year's 2.34 billion packs, according to data compiled by the finance ministry. (Yonhap)Starting in January 2015, South Korea increased the price of cigarettes by 80 percent, from 2,50
Sept. 19, 2018
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Major hotels record more reservations for Chuseok holiday
Major hotels in Seoul have seen their reservation rates rise for the upcoming Chuseok holiday thanks to a new trend of spending the autumn harvest celebration in the nation's capital, industry sources said Wednesday.Chuseok is the Korean equivalent of Thanksgiving Day and is one of the country's biggest traditional holidays, along with Lunar New Year's Day. This year's Chuseok falls on Sept. 24. (Westin Chosun Seoul)The Westin Chosun Seoul said the reservation rate for its Chuseok package progra
Sept. 19, 2018
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Business talks put inter-Korean biz cooperation on horizon
Business leaders of the South and North shared their views on the economic cooperation of the two Koreas on the first day of President Moon Jae-in’s visit to Pyongyang, although no detailed cooperation has been announced. From about 3:30 p.m. to 5 p.m. on Tuesday, 17 South Korean business leaders, including the chiefs of Samsung, SK and LG, met with Ri Ryong-nam, the North’s Deputy Prime Minister. During the 1 1/2-hour meeting, the business leaders briefly introduced themselves, as some expresse
Sept. 18, 2018
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[Video] Chaebol chiefs in Pyongyang show hope for future business opportunities
An unusual sight played out Tuesday as some of the most powerful business leaders from South Korea shook hands with the North Korean economy chief and officials as they walked into a room at the People’s Culture Palace in Pyongyang. On the sidelines of the third summit between South Korean President Moon Jae-in and North Korean leader Kim Jong-un in the first visit to Pyongyang in 11 years, what captured the business world’s attention throughout the day was the encounter between North Korean Dep
Sept. 18, 2018
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Posco Daewoo shares Chuseok spirit with underprivileged children
Ahead of the Chuseok holiday, Posco Daewoo, the trading unit of Posco, delivered gifts put together by employees to underprivileged children to share the holiday spirit, the company said Tuesday.About 300 executives and staff took part in putting together 360 gift boxes consisting of food and daily supplies, which were delivered to 360 underprivileged households in Incheon. “I believe Posco Daewoo should aim to be a good company where employees feel happy by creating new value and contributing t
Sept. 18, 2018
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Korea to open 2nd cruise port in Busan
South Korea will open a cruise port capable of accommodating 220,000-ton ships in the southeastern port of Busan to attract more passengers from abroad, the Oceans Ministry said Tuesday.The new port, which is 440 meters long and 45 meters wide, is the nation’s second cruise ship port, in addition to the one in the western port of Incheon, the Ministry of Oceans and Fisheries said. This photo shows a fireworks display at the port of Busan on South Korea`s southeastern coast on May 25. (Yonhap)Th
Sept. 18, 2018
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Over 200 million cars used McDrive in Korea since 2008
McDonald’s Korea said Tuesday that 200 million cars had used its drive-through service, McDrive, over the past 11 years.The first McDrive opened at Busan’s Haeundae store in 1992, becoming the first drive-through service in Korea and allowing customers to order and pick up food without leaving their cars. A McDonald’s Korea employee hands food to a McDrive user. (McDonald’s Korea)McDonald’s Korea currently operates the drive-through service at 250 stores across the nation, about 60 percent of it
Sept. 18, 2018
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Chaebol chiefs head to Pyongyang with lips sealed about business in the North
South Korea’s biggest conglomerate chiefs left for Pyongyang early Tuesday morning to accompany President Moon Jae-in to the third inter-Korean summit and discuss tentative business plans involving North Korea. Including Lee Jae-yong, heir to the country’s No. 1 family-run business, Samsung, 17 business leaders from a variety of industries joined the 52-member special delegation, created as part of the Moon government’s “new economy” initiative for the Korean Peninsula. LG Corp. Chairman Koo Kwa
Sept. 18, 2018
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LIG Nex1 partners with KBR to upgrade military systems
LIG Nex1, South Korea’s second-largest aerospace maker and defense company in terms of defense revenue, has sealed an agreement with the US defense system certification agency KBR to gain US Department of Defense certification for Korean military arms, so that they can be equipped with the latest “identification, friend or foe” technology. IFF technology is designed to minimize the chances of “friendly fire” incidents, in which military forces misidentify a target and attack their own troops or
Sept. 17, 2018
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[News Focus] Moon renews push for ‘H-shaped belt’
President Moon Jae-in’s visit to Pyongyang on Tuesday with leaders of the nation’s top conglomerates and public companies aims to foster peace on the Korean Peninsula and eventually realize a new economic road map on the basis of denuclearization.The new economic road map for the two Koreas, one of Moon’s 2016 election campaign pledges, involves a strategy to develop and connect economic zones on the east and west coasts of the Korean Peninsula, as well as the Demilitarized Zone, in the form of
Sept. 17, 2018
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Amorepacific chairman honors promising young scientists
A foundation led by Suh Kyung-bae, the chairman and CEO of cosmetics giant Amorepacific, has awarded research grants to five up-and-coming scientists in an effort to support their work and advance the life sciences, the Suh Kyung-bae Foundation said Monday. Amorepacific Chairman Suh Kyung-bae speaks during an award ceremony, held at the Amorepacific headquarters last week to honor promising young scientists. (Amorepacific)The Suh Kyung-bae Foundation, a public trust established in 2016 with a m
Sept. 17, 2018
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[Photo News] Smilegate to release MMORPG 'Lost Ark' on Nov. 7
SMILEGATE SHOWCASES ‘LOST ARK’ -- Smilegate RPG CEO Jee Won-gil introduces the company’s latest massively multiplayer online role-playing game, “Lost Ark,” during a media event in Seoul on Monday. Smilegate is accepting preorders for “Lost Ark” until Nov. 5. The game will officially be released Nov. 7. (Yonhap)
Sept. 17, 2018