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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Korea’s biotech production grows over 4% to W8.9tr
South Korea’s biotechnology sector production grew 4.4 percent on-year to 8.88 trillion won ($8.14 billion) in 2016, buttressed by robust growth of the medical device and biotech services segments, according to government statistics released Tuesday.The data was compiled by Korea’s Ministry of Industry, Trade and Commerce which conducted a survey of 980 local biotechnology companies in 2016. The results are now being announced here. (123RF)Korea’s biotech industry revolves mainly around medicine
Dec. 12, 2017
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IDA awarded ‘$1 Million Export Tower’ at Trade Day Festival
IDA Co., which specializes in baby products, was awarded the $1 million Export Tower in the 54th Trade Day Festival ceremony on Dec. 5 at the Coex in Gangnam, for its export of baby products.The festival, which was hosted by Korea International Trade Association and sponsored by Ministry of Trade, Industry and Energy, aims to encourage people to engage in the trade industry and develop the export industry. About 2,000 people attended the event, including President Moon Jae-in; Paik Un-gyu, the M
Dec. 12, 2017
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Multinational companies required to report aggregate biz info
Apple Inc., Google and other multinational enterprises are required to provide detailed business information in order to deal with the issue of tax avoidance by multinational companies, the country's tax agency said Tuesday.According to the National Tax Service, South Korea introduced the annual reporting by multinational companies of aggregate information in accordance with the OECD and G20 countries' guidance in 2015. The scheme, aimed at assessing high-level transfer pricing and other profit-
Dec. 12, 2017
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Tariff on LNG imports faces backlash from energy firms
South Korean energy companies are resisting a recent government decision to impose a huge tariff on steel giant POSCO for its imports of low-priced liquefied natural gas, industry sources said Tuesday.The backlash comes after the Korea Customs Service informed the country's leading steelmaker on Nov. 30 that it should pay 170 billion won ($156 million) in back tariffs for underreporting the price of LNG imported from Indonesia from 2012-16.The KCS has reportedly decided to impose the tariff, bel
Dec. 12, 2017
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Johnnie Walker introduces Christmas edition packaging
Johnnie Walker has introduced special limited-edition Christmas packaging for the holiday season, Diageo Korea said Monday.The limited-edition packaging comes in four types, corresponding to the label and volume. The Johnnie Walker Red 700-milliliter bottle includes a light-emitting diode lamp and lamp shade so the bottle can be reused as a mood lamp, while the 200-milliliter package includes a carbonated beverage to be used for cocktails. Christmas edition of Johnnie Walker Red 700-milliliter b
Dec. 11, 2017
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LG airport cleaning robot wins presidential design award
LG Electronics’ cleaning robot received a presidential award at the 2017 Good Design Selection Awards, the company announced Monday.The robot is fitted with capabilities of household cleaning robots as well as self-driving technology and the ability to avoid obstacles. The robot’s database contains a map of airport spaces that need cleaning, which is used by the robot to determine the most effective routes for cleaning. LG Electronics’ airport cleaning robot (LG)It is currently being used at Inc
Dec. 11, 2017
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S-Oil donates W2b during holiday season
S-Oil said on Monday that the company has donated 2 billion won ($182,999) to support the have-nots here. The donation was delivered to Community Chest Korea during a donation ceremony held at the CCK‘s headquarters, Monday, the company added. S-Oil CEO Othman al-Ghamdi (left) poses for a photo with CCK Chairman Hur Dong-soo (right) at a donation ceremony held in Seoul, Monday (S-Oil)“S-Oil decided to continue delivering a donation this year so as to pursue one of the company’s core values, sha
Dec. 11, 2017
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Kumho Petrochemical files lawsuit against US government
South Korean petrochemicals producer Kumho Petrochemical said Monday it has filed a lawsuit against the US government over the high anti-dumping duties imposed on the company.In July this year, the US Department of Commerce placed anti-dumping duties of 44.3 percent on emulsion styrene butadiene rubber manufactured by Kumho Petrochemical and 9.66 percent on the products by LG Chem and other companies. (Yonhap)The US International Trade Commission then ruled that imports of Korean ESBR hurt the d
Dec. 11, 2017
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Korean researchers discover new drug candidate targeting avian flu
The Korea Centers for Disease Control & Prevention said that it has discovered that an existing drug substance inhibits the replication of the H5N1 virus that causes the highly pathogenic avian influenza.The Korea National Institute of Health under the KCDC has newly found through in-lab tests on mice that the drug substance mycophenolic mofetil represses the replication of the H5N1 influenza virus.Mycophenolic mofetil is a US FDA-approved drug substance used to address rejection episodes in org
Dec. 11, 2017
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Koreans visiting Japan triple Japanese coming to Korea
The number of Korean tourists visiting Japan between January and October this year rose 40 percent on-year, nearly triple the number of Japanese tourists to South Korea during the same period, industry data showed Monday. According to data collected by the Korea Tourism Organization and Japan Tourism Agency, 5.84 million South Korean tourists visited Japan during the 10-month period in 2017, up from 4.17 million last year. (Yonhap)The number of Japanese tourists here reached 1.9 million, nomina
Dec. 11, 2017
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Samsung to improve Galaxy S9 iris scanner: source
The iris scanner of Samsung’s upcoming flagship smartphone Galaxy S9 will be improved to better recognize users’ eyes, a step that the firm hopes would solidify its lead in biometric verification technology for banking transactions.Iris recognition is biometric identification that uses irises of an individual’s eyes, whose complex patterns are unique, stable, and can be seen from some distance. “Galaxy S9’s iris scanner will have an improved camera lens and functions to make it better to recogni
Dec. 11, 2017
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[PyeongChang 2018] Korea to launch shopping festival for foreigners to boost Olympics
South Korea will hold a nationwide shopping festival for foreign tourists as part of its efforts to pump up next year's Winter Olympics in the country's alpine resort town of PyeongChang, its organizers said Monday.Korea Grand Sale 2018 will kick off on Jan. 18 for a 42-day run throughout the country, providing discounts to foreigners on a variety of options, ranging from flight tickets to accommodation, sightseeing and restaurants, the Visit Korea Committee said. "As the upcoming Korea Grand Sa
Dec. 11, 2017
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Korean visitors to Japan soar 40% this year
The number of South Korean tourists to Japan spiked 40 percent in the first 10 months of this year amid a slight rise in Japanese tourists visiting here, data showed Monday.According to the data by the Korea Tourism Organization and its Japanese counterpart, 5.84 million South Koreans visited the neighboring country in the January-October period, compared with 4.17 million during the same period a year earlier.The figure is well in excess of the 5.09 million South Korean visitors to Japan for th
Dec. 11, 2017
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Korea's exports fall 1.5% in Dec. 1-10
South Korea's exports declined 1.5 percent during the first 10 days of December on-year, due to a slump in shipments of auto and wireless telecommunication equipment, and shorter working days, data showed Monday. A total of goods worth $12.7 billion were shipped overseas from Dec. 1-10, according to the data from the Korea Customs Service. Exports to China and Vietnam each rose 10.5 percent, while those to the United States, the European Union and Japan declined 6.6 percent, 28.1 percent and 4.1
Dec. 11, 2017
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Kumho Petrochemical sues US over anti-dumping duties
South Korean chemicals maker Kumho Petrochemical Co. has filed a lawsuit against the US government over the imposition of high anti-dumping duties on its synthetic rubber product, industry sources said Monday.In July, the US Department of Commerce slapped anti-dumping duties of 44.3 percent on emulsion styrene butadiene rubber produced by South Korea's Kumho Petrochemical and POSCO Daewoo, and 9.66 percent on products by LG Chem Ltd. and other companies.The International Trade Commission later r
Dec. 11, 2017
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KHNP seeks to lead nuclear decommissioning industry
The Korea Hydro & Nuclear Power, the nation‘s nuclear reactors operator, plans to ramp up efforts to develop technologies related to nuclear decommissioning, to lead the market here and abroad, the company said Sunday. The announcement was delivered at a launching ceremony of a consultative body on reactor decommission held Friday amid Moon Jae-in government‘s drive on decreasing the nation‘s reliance on nuclear energy. Taking the state drive as well as changing policies around the world toward
Dec. 10, 2017
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[Photo News] Samsung SDI steps up community service
KIMCHI FOR YOU -- Samsung SDI’s foreign staff pose with kimchi made during a company event on Wednesday at its Suwon office as part of a monthlong kimchi-making event participated in by 600 employees at the battery maker. The kimchi, made of 6,600 heads of napa cabbage, was sent to rehabilitation centers for the disabled and orphanages near the company’s offices in Giheung and Suwon in Gyeonggi Province, Ulsan, Gumi, North Gyeongsang Province, Cheonan, South Chungcheong Province, and Chungju, No
Dec. 10, 2017
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52-hour workweek to cost businesses 2.3 tln won in extra expenses: KERI
South Korean businesses will have to spend more than 12 trillion won ($10.9 billion) annually in additional payments, and be compelled to train more employees if the government imposes a weekly 52-working hour limit, a report said Sunday. The Moon Jae-in administration is pushing ahead with a revision to the Labor Standards Act, pending approval by the National Assembly, limiting the maximum working hours as a means to implement the chief executive's election pledge to create over 800,000 new jo
Dec. 10, 2017
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LG develops LTE-based safety technology for self-driving cars
LG Electronics said Sunday it has succeeded in demonstrating safety technologies for autonomous driving using its long-term evolution-based vehicle-to-everything technologies. The LTE-based V2X safety technology was recently demonstrated on public roads in Gwacheon city, the tech firm said. LTE V2X is a technology that aims to make the traffic environment safer and more convenient by connecting vehicles to vehicles, vehicles to infrastructure and vehicles to pedestrians through LTE network. The
Dec. 10, 2017
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Samsung's new CEOs to discuss global strategy this week
Samsung Electronics is slated to hold its global strategy meeting starting from this week to share next year’s goals and strategies under the newly appointed chief executives, according to multiple sources on Sunday. The firm’s consumer electronics and mobile units will be chaired by new chiefs Kim Hyun-suk and Koh Dong-jin respectively from Wednesday to Friday in its headquarters located in Suwon. The chip unit’s meeting will be presided by its new leader Kim Ki-nam in its Giheung office on Dec
Dec. 10, 2017