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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Market uncertain on Korea's October rate cut despite slowed inflation
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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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[Robert Fouser] Why the US election looks so close
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Special counsel bill to probe first lady scrapped
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Bumpy road ahead to finalizing trade deal with US
Despite President Moon Jae-in hailing the latest negotiations to revise the free trade agreement with the US as a “great achievement,” the South Korean government remains flustered as the US side continues to make claims outside of the agreement.“The quick completion of the trade negotiations with the US amid heightened protectionism is a great achievement as it has removed uncertainties in the global economy,” Moon said during a meeting with his chief aides in the Blue House on Monday.“Addressi
April 3, 2018
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Incheon Airport celebrates 17th anniversary
Incheon International Airport celebrated its 17th anniversary last week, vowing to become an airport of smart technology and handle up to 130 million passengers by 2027. Incheon International Airport (IIAC)The ceremony, held on Thursday, was attended by some 400 airport employees, officials from the Ministry of Land, Infrastructure and Transport as well as airlines and partner companies.Incheon International Airport CEO Chung Il-young said “Incheon International Airport was able to take a leap a
April 2, 2018
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Orion wins Choco Pie trademark case in Vietnam
South Korean confectionery company Orion said Monday that it has recently won a trademark suit against a Vietnamese company for its signature product Choco Pie. Orion’s Choco Pie sold in Vietnam (Orion)According to Orion, a Vietnamese confectionery company was found to have been using Choco Pie trademark for their products in 2015. Orion has been using Choco Pie trademark since 1994 in Vietnam. Orion reported the case to the Vietnam Intellectual Property Research Institute as trademark infringe
April 2, 2018
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LS C&S implements system to get employees to leave work on time
LS Cable & System Corp. said Monday it has begun implementing a system in which employees can leave work on time without putting in extra hours that was part of the corporate environment in the past.The move comes as the National Assembly passed a revision to the Labor Standards Act last month to reduce the maximum statutory working hours to 52 hours a week from the current 68 hours. (Yonhap)Under the revision, working hours per week will be limited to 40 hours of weekday work and up to 12 hours
April 2, 2018
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Regulator finds 32 cases of alleged hiring irregularities at KEB Hana Bank
A three-week probe by Korea's financial regulator found 32 cases of alleged hiring irregularities at KEB Hana Bank in 2013, the regulator said Monday.The Financial Supervisory Service launched a probe on March 13 after its former governor, Choe Heung-sik, resigned over allegations that he was involved in hiring irregularities at the bank for which he served as president.The probe confirmed that Choe asked KEB Hana Bank, which was known as Hana Bank at the time, to hire the son of a colleague in
April 2, 2018
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Food companies woo health-conscious consumers with low calorie foods
South Korean food companies are introducing low calorie ice creams, instant noodles and other products to meet demand from the growing number of health-conscious consumers, industry sources said Monday.Binggrae Co. recently began marketing its "Beauty Inside" ice cream, which has 50 percent less sugar and 80 percent less fat than other ice creams.A 110 milliliter Beauty Inside ice cream with natural sweeteners has only 70 kilocalories. Binggrae Co.`s "Beauty Inside" ice cream. (Photo courtesy of
April 2, 2018
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[Kosdaq Star] Time for Cafe24 to reap what it sows
This is the 53rd in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. — Ed.Profitability is undeniably the key prerequisite for a firm seeking an initial public offering on the second-tier Kosdaq market.Showing a stable income has long been the clearest signal for market operator Korea Exchange and other relevant financial authorities to predict an IPO-aspirant company’s stock performance.But with changes in the speed and characteristics of the tech-savvy mar
April 1, 2018
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E-Mart to sell cereals made of edible insects
Korean discount store chain E-Mart will be the first in the country to provide cereals made of edible insects.The superstore chain said Sunday that it will sell three varieties of “Futureal” starting this month, which are cereals developed by Future Food Lab, made of edible insect powders and mushrooms. Futureal (Photo courtesy of E-Mart-Yonhap)Futureal, weighing 30 grams and costing 2,400 won ($2.26) per package, contains about 1.5 to 2.5 times more protein compared to ordinary cereals. The cer
April 1, 2018
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Samsung beats IBM in number of US patents: data
South Korea’s Samsung Electronics outran US tech giant IBM in the number of US patents at of the beginning of this year, data showed Sunday. LG Electronics ranked No. 7.Samsung held 75,596 US patents as of Jan. 1, according to the top 100 list tallied jointly by patent journal IAM and intellectual property big data analysis company ktMINE.IBM, which had maintained the top position for 25 years, ranked second at 46,443 patents.The report predicted that the Korean tech player would maintain the to
April 1, 2018
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[IP in Korea] ‘Copyright negligence boomerangs on Korean game industry’
South Korea’s game industry, which has been enjoying an unrivaled lead in the world market, is increasingly struggling against Chinese firms copying ideas.But the developers mostly have themselves to blame for underestimating the importance of copyright for so many years, according to a game business expert.“Korea’s major players that have led the game industry boom in the late 1990s and early 2000s were too arrogant to face up to the potential threat of copyright abuses,” Wi Jong-hyun, professo
April 1, 2018
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Posco leaps toward greater 50 years ahead
Steel slabs (Posco)POHANG, North Gyeongsang Province -- A red-hot steel slab weighing around 25-30 tons passes between giant rollers at Posco’s steel mill in the nation’s southeastern city of Pohang, North Gyeongsang Province, producing not just sizzling heat and ear-piecing machine sounds, but also a grand sight. “Every two minutes and 30 seconds, a slab becomes a coil of steel plate with rollers pressing down and water filtering out impurities. In a year, we process 3.5 million tons of steel s
April 1, 2018
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Posco broadens global reach across 50 countries
South Korea’s No. 1 steelmaker Posco, which began its saga in the south of the nation in the 1960s, now seeks to dominate the global steel industry on premium products and smart factory operations.It runs two steel mills in Korea, one in Pohang, North Gyeongsang Province, and another in Gwangyang, South Jeolla Province, constructed in 1992. Worldwide, it operates factories and business networks across some 50 countries.“Posco has rapidly expanded into about 50 countries in the past 25 years. Bac
April 1, 2018
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Steel giant Posco eyes biopharma
To drive another successful 50 years, South Korean steel giant Posco will seek new business opportunities in nonsteel sectors by investing in emerging technologies like lithium and biopharma, its chief said.At a meeting with Korean reporters Saturday on the occasion of the steel giant’s 50th anniversary, Posco Chairman Kwon Oh-joon said the company has recently “set a direction to commercialize biopharmaceutical studies.” The new undertaking will be based on researches carried out at Postech, a
April 1, 2018
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Kumho Tire union votes to accept sale plan to Doublestar
Unionized workers at Kumho Tire Co. on Sunday voted to accept creditors' plan to sell the debt-ridden tiremaker to China's Qingdao Doublestar Co. to avoid being placed under court receivership.The 3,100-member union backed the proposed sale plan in a vote held at the tiremaker's main plant in Gwangju, 330 kilometers southwest of Seoul, for two hours starting at 10:00 a.m. In the vote, in which 2,741 union workers participated, 60.5 percent of them gave the go-ahead to the sale plan, the union sa
April 1, 2018
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Soju consumption rises in 2017
The consumption of soju in South Korea rose slightly in 2017, data showed Sunday. According to Statistics Korea, domestic consumption of soju, the traditional Korean distilled liquor, increased by 0.5 percent last year compared to 2016.The total consumption of soju here in 2017 was approximately 1.31 million kiloliters, which amounts to around 3.64 billion bottles. (Yonhap)A shot glass of soju can hold 50ml of soju. Setting an average glass of soju to be 40ml, considering that the drink is not u
April 1, 2018
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Samsung Electronics overtakes IBM for top spot in US patent portfolio
Samsung Electronics has overtaken IBM as the holder of the most US patents as of the start of this year, data showed Sunday.The South Korean tech firm owned 75,596 US patents, outdoing the No. 2 IBM by nearly 1.6 times, as of Jan. 1, according to the top 100 list drawn up jointly by the journal IAM and intellectual property big data analysis company ktMINE. IBM, which had ranked at the top for the past 25 years, held 46,443 patents. (Yonhap)"South Korea's Samsung takes the top spot and probably
April 1, 2018
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220 Korean listed firms exceed 1 tln won in market value
South Korean listed companies valued at over 1 trillion won ($940.7 million) have increased about 20 percent over the past year, largely driven by a recent boom in bio shares, data showed Sunday.According to the data by Korea Exchange, there were 220 listed companies with market capitalization over 1 trillion won as of end-March, an increase from 187 a year ago. A company with 1 trillion won in market capitalization, an equivalent to the "billion dollar club" in the United States, is regarded as
April 1, 2018
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Workers of Kumho Tire to vote on sale plan after dramatic deal
Unionized workers of Kumho Tire Co. will vote on the planned sale of a majority stake in the tiremaker to China's Qingdao Doublestar Co. after a dramatic agreement with management, according to union officials Saturday. The Sunday vote comes as Kumho Tire's management and union agreed on the planned sale late Friday, which happened just hours before a deadline that creditors warned would lead to a court receivership if no deal was reached. (Yonhap)Workers in Kumho Tire's plants in Gwangju and G
March 31, 2018
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Kumho Tire’s dramatic, fateful day
Cash-strapped Kumho Tire went through a rollercoaster ride Friday as the creditors, labor union and the government scurried to avoid the worst-case scenario of a court receivership just hours before the midnight deadline to agree to an acquisition by a Chinese investor. Tension had notched up when Deputy Prime Minister Kim Dong-yeon held a joint press conference pressing the labor union in the morning, before taking a dramatic turn in the afternoon when the union took a step back and announced t
March 30, 2018
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[Newsmaker] US’ cancer warning ruling for coffee draws mixed reactions in Korea
Following a Los Angeles judge’s ruling that coffee companies including Starbucks should carry a cancer warning label due to a chemical produced in the roasting process, leading coffee chains operating in South Korea remained cautious while civic activists called for alert. Consumers were mostly confused.A local subsidiary of US coffeehouse chain Starbucks Coffee Korea said that the matter is impacting the entire US coffee industry, not just limited to Starbucks.“We understand that around 90 coff
March 30, 2018