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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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Controversial cult leader’s sentence reduced to 17 years
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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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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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Market uncertain on Korea's October rate cut despite slowed inflation
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[Advertorial] KT&G leads in move to fight youth unemployment
KT&G, South Korea’s No. 1 tobacco maker by market share, has been actively engaging in a state-led initiative to fight youth unemployment that marked 9.8 percent as of 2016, the highest since 1999.The projects initiated by the company include renting out suits for job interviews and providing tailored consulting sessions, under the names “SangSang Closet,” “SangSang Career Camp” and “SangSang Compass Camp.”The SangSang Closet program has been in operation since September last year offering a fre
Dec. 21, 2017
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Revised FTC guideline to force Samsung SDI to sell stake in C&T
Korea’s antitrust watchdog said Thursday it would correct what it called an error in its guideline on conglomerates’ cross-shareholding structure, a decision that would force a Samsung affiliate to sell more of its stake in Samsung C&T Corp., the de facto holding company of the tech giant. In December 2015, the Fair Trade Commission had set the guideline with regard to a merger between Samsung C&T and Cheil Industries, prohibiting the conglomerate from strengthening its shareholding chains by th
Dec. 21, 2017
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Duty-free operators restart marketing for China
Duty-free operators are restarting marketing efforts that target Chinese consumers, as thawing relations between the two countries point to the possibility of recovering sales.On Thursday, HDC Shilla Duty Free and Shinsegae Duty Free announced they had signed agreements with Chinese agencies to expand marketing to China. HDC Shilla Duty Free opened a studio in its IPark store for Chinese internet celebrities, known as Wang Hong, to create specialized content for the Chinese. The Wang Hong studi
Dec. 21, 2017
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[Advertorial] Samsung to ride on big data, AI and connectivity wave
Samsung Electronics, which has marked four straight quarters of record profits, is predicted to see strong performance next year due to the continued “supercycle” of chips and the launch of advanced smartphones and appliances powered by artificial intelligence and connectivity technologies. The Korean tech giant is expected to record 50 trillion won ($46 billion) in operating profit this year. It is forecast to see 60 trillion won in operating margin in the coming year, according to local securi
Dec. 21, 2017
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Hanwha signs $226m artillery supply contract with Norway
Hanwha Land Systems, a defense business run by Hanwha Group, signed a contract with the Norwegian government to supply two dozen K9 Thunder self-propelled 155 mm howitzers, the company said Thursday.Under the 245.2 billion won ($226.6 million) deal, Hanwha Land Systems will deliver 24 K9 howitzers and six K10 ammunition resupply vehicles by 2020. Son Jae-il, Hanwha Land Systems CEO, shakes hands with Mette Elin Sørfonden, head of Norway's defense material agency, after a contract on K9 self-pro
Dec. 21, 2017
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Yuhan-Kimberly increases efforts to support senior citizens
Zero Space, a domestic fashion brand, was launched with the support of Yuhan-Kimberly, a South Korea personal care products manufacturer, as part of efforts to help senior citizens. The fashion brand is a collaboration between local senior dressmakers and young marketers. It has now grown to join overseas fashion design fairs, such as Maison et Objet Paris and Centrestage in Hong Kong. The brand’s sales have also increased by some 270 percent, according to Yuhan-Kimberly. (Yuhan-Kimberly)The co
Dec. 21, 2017
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Venture minister Hong to meet SME leaders over wage hike, work-hour reduction
SMEs and Startups Minister Hong Jong-haak will meet with representatives of small and medium-sized firms and venture startups next week to exchange views on issues ranging from the minimum wage hike and work-hour reductions, market watchers said Thursday.Hong will meet with Park Sung-taek, chairman of the Korea Federation of Small and Medium Business and scores of other representatives at the KBIZ headquarters in Yeouido, central Seoul, Tuesday.Small and medium enterprises have called on the gov
Dec. 21, 2017
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Samsung affiliate required to sell additional stake in group's holding firm: FTC
A Samsung Group affiliate will be required to sell an additional stake in the de facto holding company of South Korea's No. 1 conglomerate as a merger that took place in 2015 has effectively strengthened cross-shareholding ties within the business group, the country's corporate watchdog said Thursday.In 2015, Samsung C&T Corp. was created by merging with Cheil Industries Inc., becoming the group's de facto holding firm. At that time, the Fair Trade Commission ordered Samsung SDI Co., another aff
Dec. 21, 2017
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Korea to actively bring unfair trade barriers issues to WTO: official
The government said Thursday it will actively tackle any unfair trade barriers that can be imposed on South Korean products by foreign countries, including filing complaints with the World Trade Organization.The move comes amid concerns the US government is moving to slap anti-dumping tariffs and other trade barriers on South Korean steel products."We've stressed on several occasions to the US side that Seoul is Washington's ally, a massive importer of American arms and exports of South Korean s
Dec. 21, 2017
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Luxury restaurants, hotel buffets fully booked for year-end holidays: sources
Most luxury restaurants and buffet restaurants at major hotels in Seoul have almost been fully booked for Christmas and year-end holidays, industry sources said Thursday.Viking's Wharf, a lobster buffet restaurant chain, said it has completed accepting reservations for tables at its outlets in Jamsil and Yeouido for the coming days until Dec. 31.Wolfgangs Steak House said all the seats have been booked for Sunday and Christmas on Monday, except for just a few tables for the 9-11 p.m. dining peri
Dec. 21, 2017
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Hanwha to export 24 K9 howitzers to Norway
Norway has signed a contract to buy two dozen K9 Thunder self-propelled 155mm howitzers from South Korea, a show of the artillery system's competitiveness in the European market, its manufacturer announced Thursday.Under the 245.2 billion-won ($226.3 million) deal, Hanwha Land Systems will deliver 24 K9 howitzers and six K10 ammunition resupply vehicles by 2020.It marks the firm's third export contract of the weapon system this year following agreements to sell 48 K9s to Finland and 100 others t
Dec. 21, 2017
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Shilla Duty Free picked for Jeju International Airport
(Yonhap)Shilla Duty Free, operated by Hotel Shilla, has secured the license to operate its duty-free business at the airport in the country‘s resort island of Jeju, the Korea Customs Service said Wednesday. Shilla Duty Free now has the right to run duty-free stores at Jeju International Airport for five years. The bidding took place as Hanwha Galleria, retail unit of Hanwha Group, decided to withdraw its business from the airport after the company suffered from a drop in the number of visitors f
Dec. 20, 2017
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Dessert Choco Pie released in 4 different flavors
Orion, the manufacturer of Choco Pie, has rolled out Dessert Choco Pie -- an upgraded version of the snack that was launched in 1974. (Orion)Choco Pie is popular in Korea to the extent that some call it a “national snack.”The new product comes in four flavors: original, caramel salt, cacao and red velvet. Red Velvet Choco Pie -- the most noticeably different -- is made of two pieces of round chocolate sponge, soft white marshmallow and strawberry cream. (Orion)According to an industry insider,
Dec. 20, 2017
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Posco’s premium steel, engineering solution used for PyeongChang Olympics
Premium steel products and an engineering solution by Posco were used for the construction of major facilities for the PyeongChang Winter Olympics, the company said Wednesday.Posco, the nation’s largest steelmaker, supplied steel products for the construction of major buildings at sites for the sporting event including the International Broadcasting Center, media residence and Gwandong Hockey Center. The company said it had tailored steel structures for the construction of the broadcast center t
Dec. 20, 2017
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LG-invested power plant in China starts operation
A combined heat and power plant in northwestern China invested by LG International Corp., the trading arm of South Korea’s LG Group, has recently started operation, the company in Seoul said Wednesday. Combined heat and power plant in Wuwei, Gansu Province, China (LG International Corp.)In 2015, the company formed a joint venture with Gansu Province Electric Investment Group Corp. to build a power plant capable of generating 700 megawatts of electricity. Built on 410,000 square meters of land, t
Dec. 20, 2017
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China restricts Korea-bound group tour: sources
BEIJING/SEOUL -- Chinese authorities have rejected a request by a group of Chinese nationals to visit South Korea later this week, industry sources said Wednesday.The tourists were supposed to leave for South Korea on Friday in a trip arranged by Haitao Travel, a Chinese tour operator, according to the sources.Chinese citizens are required to win approval from their authorities for group tours.Haitao Travel brought the first group of Chinese to South Korea earlier this month after Beijing partia
Dec. 20, 2017
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Former Bixby chief Rhee In-jong leaves Samsung
Rhee In-jong, Samsung’s mobile chief technology officer and former Bixby chief, has resigned, Samsung confirmed Wednesday. The former software chief for Samsung’s mobile division had expressed his wish to leave Samsung in July, citing personal reasons, the Korean tech firm said. Caption: Rhee In-jong (Samsung Electronics)During the firm’s shake-up last month, Samsung consolidated its software and hardware divisions for mobile devices and appointed Executive Vice President Roh Tae-moon as the chi
Dec. 20, 2017
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Dongsuh Foods gives back through culture events
Dongsuh Foods, a South Korean food and beverage manufacturer and leading player in the domestic coffee market, engages in cultural and arts programs every year as part of its outreach initiatives.Every year, the company hosts “Dongsuh Coffee Classic,” a concert offered free of charge to residents in fall. This year, the concert was held in October in Chuncheon, Gangwon Province, inviting pianist Paik Hae-sun, violinist Woo Yezu, opera singer Kai, soprano Shin Della and tenor Kim Seung-Jick.Total
Dec. 20, 2017
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Korean Air to bring in Korea’s first Bombardier CS300
Korea’s flagship air carrier is set to bring in Korea’s first CS300 jet from Canadian maker Bombardier, the company said Wednesday. A Korean Air CS300 jet from Bombardier (Korean Air)Outfitted with 127 seats, the CS300 will arrive at Gimpo Airport on Christmas Day. A second CS300 will arrive on New Year’s Day, with both planes starting revenue flights on domestic routes on Jan. 16. The Bombardier jet is widely reputed for its fuel efficiency, up to 20 percent better than comparable planes, with
Dec. 20, 2017
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LX Corp. to create 20 billion won fund for SMEs by 2021
State-run Korea Land and Geospatial Informatix Corporation will seek to bolster mutual development with small and midsize firms and expand support for promising individuals by forming a 20 billion won ($18.3 million) fund within three years, the company said Wednesday.“Public institutions are responsible for creating an economy in which all members are well off,” said Park Myoung-sik, CEO of LX Corp.“LX will continually make efforts to put together more opportunities to support SMEs, entrepreneu
Dec. 20, 2017