Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Pay debate plagues foreign nanny pilot
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35% of S. Koreans view unification 'unnecessary'
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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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[Reporter’s Notebook] Was Netflix film opening BIFF really a bad thing?
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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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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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[KH Explains] Is private equity giant MBK a risk-taker or renegade?
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Air traffic growth in NE Asia to be driven by LCCs: Boeing
Air traffic growth in the Northeast Asian region will be mainly driven by LCCs, according to an executive from airplane maker Boeing.“As we look at growth in the future, we expect that growth to be driven by airlines in the emerging and developing economies, as well as low-cost carriers,” Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes, told reporters at Boeing‘s offices in Seoul on Monday.Together, the air travel traffic in Korea, Japan and Taiwan are expected to grow
Oct. 16, 2017
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[News Focus] Can Lee Jae-yong control Samsung from behind bars?
With the resignation of Samsung Electronics’ practical commander in chief Kwon Oh-hyun on Friday signaling a large-scale personnel reshuffle, eyes are zeroing in on the group’s jailed heir Lee Jae-yong and how possible it would be for him to strategize, control and direct future steps from his cell.According to experts who have studied Samsung and South Korean chaebol closely for years, there were cases of so-called “in-prison management” in the recent past, and it is highly likely for the 49-ye
Oct. 16, 2017
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Daesung chairman hosts WEC assembly in Lisbon
Daesung Group Chairman Younghoon David Kim is hosting an executive assembly of the World Energy Council, a group of energy leaders around the world, in Lisbon, officials said Monday.As the chairman of WEC, Kim will preside over summits and conferences scheduled to be held for the four-day gathering. The assembly runs through Thursday, they added. Daesung Group Chairman Younghoon David Kim (World Energy Council)Kim will also deliver an opening speech to stress the role of the energy sector in tra
Oct. 16, 2017
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Hanjin chief faces detention over embezzlement
Police on Monday sought an arrest warrant for Hanjin Group Chairman and Korean Air CEO Cho Yang-ho, who stands accused of embezzling funds to renovate his private home. Cho was questioned by police last month on accusations of using approximately 3 billion won ($2.66 million) of Hanjin funds that had been earmarked for the construction of a hotel in Incheon. The renovations to Cho’s private home in Jongno, Seoul, took place between May 2013 and January 2014. Hanjin Group Chairman Cho Yang-ho app
Oct. 16, 2017
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Land minister visits Uzbekistan, Turkey, Iran for infra projects
South Korea's land minister has embarked on a six-day trip to Uzbekistan, Turkey and Iran with a business delegation to support local companies' bids for infrastructure projects and expand economic ties, her office said Monday. Kim Hyun-mi, minister of land, infrastructure and transport, headed a group of senior officials from state utility companies, construction firms and banks to discuss major infrastructure projects in the three countries. The trip runs from Sunday to Friday. The policymaker
Oct. 16, 2017
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Samsung engages in aggressive marketing against LG OLED TVs
Samsung Electronics Co.'s latest aggressive marketing tactic against rival LG Electronics Co. in the high-end TV field appears to be part of its efforts to get ahead in the consumer electronics sector. Samsung Electronics has been at the forefront of liquid crystal display TV technology that has helped it become the biggest selling TV brand in the world. But LG Electronics has led in organic light-emitting diode TV technology in the ultra-high definition market.Samsung Electronics recently came
Oct. 16, 2017
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Doosan Infracore posts brisk sales in Chinese market
Doosan Infracore Co., South Korea's top construction equipment maker, continued to expand its presence in China's excavator market, as the world's No. 2 economy increased spending on infrastructure, industry sources said Monday.According to observers, Doosan Infracore sold a total of 718 excavators in China last month, more than double from a year earlier.In the first nine months of the year, Doosan Infracore sold a total of 7,881 excavators, also up 131 percent from the same period in 2016, the
Oct. 16, 2017
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Kumho Tire releases new winter tires for sedans, SUVs
Kumho Tire, the nation‘s second-largest tiremaker, has released new tires designed for safer driving in the winter, the company said Sunday.The Wintercraft WP72 and WS71 are the sequels to Kumho’s signature winter tire products Wintercraft KW27 and I’Zen RV KC15, with the tiremaker having strengthened design elements and improved functionality. Kumho Tire's new Wintercraft WP72 and WS71 are presented. (Kumho Tire)Wintercraft WP 72 is a premium winter tire set for sedans that makes less noise, bu
Oct. 15, 2017
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Samsung CEO’s sudden departure signals change, challenge
A surprise farewell announcement by a Samsung Electronics chief executive officer on the day the tech giant paraded another record-quarterly profit last week signals a generational shift within the tech giant leadership and also a change into a technology-focused, business-to-business company from a copycat appliance maker, experts in Seoul said Sunday.Kwon Oh-hyun, who led Samsung Electronics’ thriving chip business and has recently emerged as the public face of the tech giant, said Friday that
Oct. 15, 2017
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[Kosdaq Star] Clinical-stage SillaJen rises to Kosdaq powerhouse
This is the 43rd in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- EdWhile the top-tier stock market is riding on the global IT boom, the second-tier bourse is strongly dominated by the biopharma technology sector, with pharmaceutical players accounting for seven out of the top 10 shares in market cap.Among the local pharmaceutical powerhouses, a clinical-stage biotech firm SillaJen is noted for its signature oncolytic virus Pexa-Vec.Less than 11 months
Oct. 15, 2017
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Duty-free shops still reeling from THAAD impact
South Korean duty-free shops are still smarting from China's retaliation against Seoul over the deployment of a US defense shield here with their profitability worsening despite rising sales, industry sources said Sunday.In mid-March, China banned the sale of group tours to Seoul in retaliation against the installation of a Terminal High Altitude Area Defense (THAAD) battery in southeastern South Korea, which Beijing sees as a security threat. The move has dealt a harsh blow to local duty-free s
Oct. 15, 2017
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MMFs see huge capital outflow amid stock rally
Investors in South Korea are scrambling to withdraw their money from short-term investment vehicles amid a recent stock market rally, data showed Sunday.Money market funds (MMFs) here had a combined 106.3 trillion won ($94 billion) under their management as of Tuesday, according to the data from the Korea Financial Investment Association.The withdrawals represent a 23 percent tumble -- worth 31.7 trillion won -- from an all-time high recorded May 17 this year amid high political uncertainties. (
Oct. 15, 2017
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THAAD-hit S. Korean retailers turn to Southeast Asia
South Korean retailers are accelerating their push to tap deeper into the Southeast Asian market after they suffered a serious setback in China in the face of Beijing's economic retaliation over Seoul's deployment of a US anti-missile system, industry watchers said Sunday. On Tuesday, Lotte Group, South Korea's fifth-largest conglomerate, opened an online shopping mall in Indonesia together with local conglomerate Salim Group. The Korean firm said it set up a joint venture to combine Lotte's ret
Oct. 15, 2017
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Samsung BioLogics becomes 7th-largest firm on main bourse
Samsung BioLogics Co. emerged as the seventh-largest firm on the main bourse in terms of market value, data showed Saturday, apparently bolstered by its brighter export outlooks.The South Korean biopharmaceutical company closed at 388,500 won ($344) on Friday, up 2.91 percent from the previous session, with its combined market capitalization estimated at 25.7 trillion won, the bourse operator Korea Exchange said. (Samsung BioLogics)Samsung BioLogics is the third-largest Samsung unit listed on th
Oct. 14, 2017
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S. Korean shipyards forecast to report weak Q3 net on fewer orders
South Korea's major shipyards, led by Hyundai Heavy Industries Co., are projected to report weak earnings for the third quarter of the year, as they received fewer orders in recent years and built low-priced ships, industry sources said Saturday.According to the data compiled by FnGuide, a financial service provider, Hyundai Heavy is expected to report an operating income of 95.8 billion won ($85 million) during the July-September period, compared with the previous year's operating earnings of 3
Oct. 14, 2017
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[Photo News] Shopping fever remains
Korea has a number of seasonal festivals for visitors to enjoy, but for shoppers and Hallyu fans, one golden opportunity may be the Korea Sale Festa, a monthlong shopping festival taking place through October.In recent months, a sharp drop in the number of Chinese group tourists here was considered a serious threat to this annual event, but popular shopping districts are seeing business pick up again.Taking the place of Chinese tourists are visitors from Southeast Asia and North America. Many ar
Oct. 13, 2017
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US court temporarily dismisses Medytox’s BTX theft case against Daewoong
A US court has temporarily dismissed a lawsuit that South Korea’s botulinum toxin maker Medytox filed against its domestic rival Daewoong Pharmaceutical and its US partner Alphaeon Corp., claiming intellectual property theft.The Superior Court of California in Orange County on Thursday ruled that the case should be settled in Korea, the country where the issue initially emerged. It will review the case again on April 13, 2018, after Korea’s courts makes a decision on the case.Medytox released a
Oct. 13, 2017
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Samsung BioLogics, Celltrion stocks soar
The stock prices of Korean biologics companies Samsung BioLogics and Celltrion soared to new highs Friday, putting a spotlight on the biologics market. On Friday, Samsung BioLogics broke 400,000 won ($354) per share to reach a high of 411,000 won, setting a new record. The jump made the company the sixth-most valued stock on the Kospi bourse, up from 13th two days ago. The sharp rise came after the biologics contract manufacturer announced Thursday that its second production plant in Songdo had
Oct. 13, 2017
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[Monitor] Most super luxury sports cars registered as company vehicles
Despite a change in taxation on company cars, the practice of individuals purchasing super luxury sports cars under a company’s name to avoid taxes continues to remain rampant, the office of Rep. Shim Ki-joon said in a parliamentary audit.Citing data from the Korea Automobile Importers and Distributors Association, Rep. Shim said the proportion of such cars registered in company names remains little changed, with some models even showing an increase since the law was revised last year.Under the
Oct. 13, 2017
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Lotte Mart’s sales in China expected to fall W1.2tr in 2017
Discount retailer Lotte Mart’s sales in China are expected to fall by 1.2 trillion won ($1 billion) this year amid the fallout from intergovernmental tensions.According to data submitted by Lotte Mart to Rep. Kim Su-min of the People’s Party, sales at the retailer’s Chinese stores fell 750 billion won on-year between January and August this year. Total on-year losses in sales for 2017 are projected to reach 1.2 trillion won.After signing a land-swap deal with the Korean government for the deploy
Oct. 13, 2017