Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Man escapes DUI charges by downing bottle of soju while pulled over
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Pay debate plagues foreign nanny pilot
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K-pop star lip-syncing controversy flares up again
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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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Hyundai tops JD Power satisfaction rankings in China this year
South Korean carmaker Hyundai Motor said Monday it took the top spot in J.D. Power's customer satisfaction survey in China this year despite declining sales in the wake of a diplomatic row between the two countries.In 2017, Hyundai Motor took the No. 1 position back in China after losing it to Dongfeng Peugeot-Citroen Automobile, a joint venture between Dongfeng Motor Corp and PSA Peugeot Citroen, last year in J.D. Power's Sales Satisfaction Index, the company said in a statement. In this photo
July 3, 2017
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Hanwha Galleria to withdraw duty-free business from Jeju airport
Hanwha Galleria, a local duty-free operator, will remove its business from a local airport amid a sharp decrease in the number of Chinese tourists following a diplomatic row over the deployment of a US missile defense system here, industry sources said Monday.The duty-free operator has recently delivered its intention to the Korea Airports, the country's airport operator, to return its duty-free business license at Jeju Airport, which is valid until April 2019, and received written consent from
July 3, 2017
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Electricity supply remains stable despite temporary shutdown of 8
South Korea's electricity supply remained stable last month despite the temporary shutdown of eight old coal-fired power plants as part of the government's efforts to reduce the country's air pollution levels, industry sources said Monday.Starting June 1, the thermal power plants, including four in central Chungcheong Province, were closed for 30 days. The closed plants have a combined generation capacity of 2.8 gigawatts, taking up about 2.5 percent of the country's total capacity. (Yonhap)The
July 3, 2017
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Samsung Heavy bags $240m order for 2 shuttle tankers
Samsung Heavy Industries, a major shipbuilder here, said Monday that it has clinched a $240 million deal to build two shuttle oil tankers.Under the deal with AET, an affiliate of Malaysian shipping firm MISC, Samsung Heavy will build the two vessels by January 2020, the company said in a regulatory filing.A shuttle tanker is a ship designed to transport oil from an offshore oil field to a storage tank, and is equipped with a variety of offloading equipment.With the latest deal, Samsung Heavy has
July 3, 2017
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Multinational drug firms top list of approvals for clinical trials
Multinational pharmaceutical companies have topped the list in winning approvals from South Korea's drug regulatory agency for clinical trials this year, data showed Monday.According to the data by the Ministry of Food and Drug Safety, four major global drug manufacturers have won a combined 42 clinical trials during the first half of 2017. (Yonhap)Gilead Sciences Korea, the local unit of Gilead Sciences, won the approval of 13 clinical trials, followed by Novatis Korea with 11, Roche Korea with
July 3, 2017
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LG releases new tablet with improved portability
LG Electronics said Monday it released a new tablet PC with improved portability, which supports the long-term evolution network connectivity.The South Korean tech giant said the 290-gram G Pad IV 8.0 FHD LTE can be considered "as light as a can of soda," making the device especially suitable for women and teenagers. The company said the 8-inch display also makes it easier for users to carry the product in hand bags and pockets. A model poses with LG Electronics Inc.'s new tablet PC, the LG Pad
July 3, 2017
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Korean shipyards clinch most new orders in first half
South Korean shipbuilders, led by Hyundai Heavy Industries, have clinched the most new shipbuilding orders in the first half of the year, with their combined tally more than doubling from a year earlier, industry data showed Monday.Hyundai Heavy and other local shipyards have bagged orders worth a combined 2.56 million compensated gross tons in the January-June period, accounting for 34 percent of the total orders placed around the globe, according to the data compiled by industry tracker Clarks
July 3, 2017
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Smartphone makers set to lock horns with new flagships in H2
Global smartphone makers are expected to fiercely compete with each other to win over consumers in the second half by launching new flagship devices, industry watchers said Monday, with Samsung Electronics poised to release a new phablet to overcome its tainted brand image sparked by the suspended Galaxy Note 7 last year.Market observers said Samsung, along with Apple and LG Electronics, plan to release new smartphones in the coming months, with the companies focusing on showcasing nearly bezel-
July 3, 2017
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Korea is good bait for cybercriminals: experts
While the world has recently been hit hard by a series of cyberattacks that have disrupted government agencies and big businesses, Korea seems relatively safe with no reports of any serious intrusions. Local security experts, however, said more malicious cyberattacks will be coming and Korea is susceptible to them due to its tense relations with North Korea and its advanced information technology infrastructure, both of which can be good bait for cybercriminals. Last week, Petya, a new type of R
July 2, 2017
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Emphasis on community contribution pressures foreign companies in Korea
Companies mostly have two masters to serve: their bottom line, and public expectations for social responsibility.And the pressure to operate by certain ethical and philanthropic standards is particularly high in South Korea, where large conglomerates that drive the economy are regularly chastised by the public for allegations of unfair treatment of smaller companies or low levels of community contribution.Under the Moon Jae-in administration, which campaigned on promises to root out predatory bu
July 2, 2017
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Hyundai, LG rated best in win-win index to encourage SMEs
Hyundai-Kia Automotive Group and LG Group have been rated the best companies that encourage mutual growth with small and medium-sized firms, while many foreign firms lagged behind domestic companies, an index showed Sunday.The two conglomerates had six affiliated companies each in the win-win list, according to the win-win list released by the National Commission for Corporate Partnership. (Yonhap)Among the Hyundai-Kia Automotive Group companies listed are Hyundai Motor Co., Kia Motors Corp., Hy
July 2, 2017
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Renault Samsung to recall 62,000 cars in Korea
Renault Samsung Motors Co., the South Korean unit of French automaker Renault S.A., will recall 62,000 units to rectify faulty sensors, South Korea's Environment Ministry said Sunday.The recall -- set to begin Monday -- came more than a month after the carmaker submitted a plan to the ministry to replace coolant temperature sensors and oxygen sensors in its cars. (Yonhap)The recall affects 49,647 units of SM5, SM3, QM5, SM5 LPLi models built between Oct. 1, 2013, and Oct. 31, 2014, for problems
July 2, 2017
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Samsung workers cut for 1st time in 7 yrs amid global restructuring: data
Samsung Electronics Co. witnessed a reduction in the number of employees last year in its first manpower cut in seven years due mainly to its restructuring in China, the company data showed Sunday. The number of employees of the world's largest smartphone and memory chip manufacturer fell 5.2 percent to 308,745 last year from 325,677 the previous year, the data said. (Yonhap)By region, domestic employees dropped 3.8 percent to 93,204, and those abroad declined 5.8 percent to 215,541. As of the
July 2, 2017
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Foreigners net buy biggest amount of Korean stocks in 1st half since 2009: data
Foreign investors net bought the largest amount of South Korean stocks during the first six months this year since 2009, industry data showed Sunday, amid strong corporate earnings outlook and expectations of the global economic recovery. Foreigners net purchased 10.29 trillion won ($8.89 billion) worth of stocks during the January-June period, with the total breaking down to 9.24 trillion won for the KOSPI main bourse and1.99 trillion won for the tech-heavy KOSDAQ market, according to the data
July 2, 2017
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Samsung's Galaxy named Korea's most valuable brand for 7th year in row
Samsung Electronics Co.'s smartphone brand Galaxy was selected as South Korea's most valuable brand for the seventh consecutive year, a survey showed Sunday. The Galaxy phone retained the top spot in the second quarter by getting a brand index reading of 940.98 points, out of a possible 1,000 points, according to the survey by Brandstock, a South Korean market research firm.(Yonhap)Brandstock said it expects Galaxy to continue to prevail in the rankings of local brands.E-Mart, a discount store c
July 2, 2017
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Big Korean shipyards reaped solid profits in Q2: market forecast
South Korea's major shipyards, led by Hyundai Heavy Industries Co., are estimated to have racked up solid profit during the second quarter of the year, aided by the increased delivery of ships, cost-cutting measures and a rise in new orders, industry sources said Sunday.According to the data compiled by Yonhap Infomax, the financial news and information arm of Yonhap News Agency, Hyundai Heavy is expected to have logged an operating income of 142 billion won ($124 million) during the April-June
July 2, 2017
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T'way Air launches Jeju-Osaka route
South Korean budget carrier T'way Air Co. on Friday began flight service between Jeju Island and Japanese city of Osaka, a move aimed at capitalizing on growing low-cost travel demand during the peak summer season. As part of its push to expand its services, T'way Air said it will also start other international routes from Busan to Osaka and Vietnam's Da Nang on Saturday.The move comes as many South Koreans are choosing to go to Japan and Southeast Asian countries for their summer holidays over
June 30, 2017
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Kogas agrees to buy more US natural gas
South Korea‘s state-run gas giant Korea Gas signed a series of agreements with US energy companies to secure more natural gas for the country, as well as to find more partnerships and investment opportunities in the US market. Korea Gas signed four separate memorandum of understandings with US companies including Exxon Mobil, Energy Transfer, Alaska Gasline Development Corp., Sempra Energy and Woodside Petroleum. “Kogas plans to explore feasibilities of each pact and decide on future investments
June 30, 2017
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GS E&C wins $865m UAE refinery plant repair project
GS Engineering & Construction Co. said Friday it has won a 1 trillion-won ($865 million) order to repair a refinery plant in the United Arab Emirates that suffered a fire by early 2019.UAE Takreer, which is wholly owned by Abu Dhabi National Oil Co., placed the order with GS E&C to restore burnt parts of its oil-processing plant in Ruwais, 250 kilometers west of UAE's capital city of Abu Dhabi, the company said in a statement. UAE Takreer's refinery plant built by GS E&C in Ruwais (Photo courtes
June 30, 2017
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LG Electronics showcases 'Okja' with premium OLED TV
LG Electronics Inc. said Friday it is promoting the film "Okja" that has received acclaim at home and abroad, with its latest organic light-emitting diode TV.LG Electronics said the LG Signature OLED TV W will provide the most optimized environment for audiences of the film. (Yonhap)The South Korean tech giant said its cutting-edge TV sets support both Dolby Vision display and Dolby Atmos sound systems, providing viewers with theatre-like experiences.The sci-fi film was co-produced by three Holl
June 30, 2017