Most Popular
-
1
Slew of top K-pop stars ready to return from military
-
2
S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
-
3
N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
-
4
Controversial cult leader’s sentence reduced to 17 years
-
5
Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
-
6
Military aircraft evacuating S. Koreans in Lebanon returns home
-
7
BTS-themed moon jar to be unveiled on Hangeul Day
-
8
Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
-
9
1,430 minors investigated for drug offenses from 2018 to 2023: police
-
10
[Robert Fouser] Why the US election looks so close
-
Air ticket prices mark 5-year high
On the back of a recent oil price recovery and anticipation for national holidays, the prices of international air tickets in March hit a five-year high, Statistics Korea’s data showed Friday. Starting in September last year, international tickets’ prices bounced back to rise by around 1 percent each month. In March, prices hiked by 4.5 percent year-on-year, the biggest leap since May 2012. (Yonhap)Ticket prices for domestic flights also went up by 7.3 percent in March, recording the biggest jum
May 5, 2017
-
Lotte facing huge loss in China over THAAD retaliation
Lotte Group is facing huge losses as its outlets in China have remained closed for about two months over Beijing's apparent retaliation against the deployment of an advanced U.S. missile defense system in South Korea, according to group officials Friday. Chinese authorities ordered Lotte to close its stores following inspections in late February or early March after Lotte agreed to offer a site for the US Terminal High Altitude Area Defense missile system in a land swap deal with the Defense Min
May 5, 2017
-
[Monitor] Job opportunities for natural science majors plunge
The percentage of young men with natural science diplomas employed in the second half of last year dropped to 69.6 percent at a relatively rapid pace compare to those who studied liberal arts and social sciences, Statistics Korea said Thursday.Job seekers majoring in natural science had greater job opportunities just two or three years ago, with their employment rate hovering around 77 percent, slightly higher than the average among all majors.Last year’s rate marked the lowest since 2013, when
May 4, 2017
-
Saudi oil price cut favorable to Korean oil refiners
Saudi Arabia’s recent price cut for oil exports to Asia is likely to be favorable to South Korean oil refiners, industry insiders said Thursday.Saudi Aramco, the state-owned oil giant, recently lowered official prices for the crude it plans to sell to Asia for June by $0.40 per barrel, while it raised prices for other regions. The move was interpreted as trying to defend sales in the Asian market amid the ongoing price competition among oil producers, according to news reports. Korea, Japan and
May 4, 2017
-
Govt. OKs Mirae Asset Life's acquisition of PCA Life
South Korea's financial authorities said Thursday they have approved Mirae Asset Life Insurance Co.'s acquisition of PCA Life Insurance Co., the local unit of Britain's largest insurer Prudential Plc.(Yonhap)The Financial Services Commission said it had approved the deal worth 170 billion won ($150 million) on Tuesday.The takeover will make Mirae Asset Life Insurance the fifth-largest life insurer with assets of 33.41 trillion won in the domestic insurance market. (Yonhap)
May 4, 2017
-
[Herald Interview] ‘Central oversight essential to move Saemangeum forward’
Creating land about two-thirds the size of Seoul is not an easy job. Saemangeum Project, a mega project designed to turn a sea area into 283 square kilometers of reclaimed land, is the biggest land development in Korea so far. But to successfully complete the project, it must have a central authority to oversee it, in light of the overlapping authorities of related ministries and municipalities, said the head of the development agency.“It’s a structural problem,” Saemangeum Development and Inves
May 4, 2017
-
LG expands premium appliances in emerging nations
LG Electronics is expanding its lucrative premium appliances in emerging nations. The Korean tech giant’s home appliance unit’s record-breaking operating profits in the first quarter were mainly driven by strong sales of its premium appliances in North America. Sales generated in the market last year accounted for around 30 percent of the company’s total sales. Shipment of the firm’s organic light-emitting diode TVs also doubled in the US market during the period. LG Electronics’ premium brand
May 4, 2017
-
Sales of Celltrion’s Remsima affect Q1 earnings of Pfizer, MSD
The first-quarter earnings of Pfizer and US-based Merck & Co. appear to have been affected by sales of Celltrion’s Remsima, a biosimilar copy of Johnson & Johnson’s Remicade. Pfizer, which markets and sells Celltrion’s Remicade biosimilar in the US and other global markets, said in its earnings report for the January-March period Wednesday that worldwide sales of its biosimilars in the quarter came to $105 million. Of this amount, global sales of Remsima reached $78 million. Remsima is Celltrion
May 4, 2017
-
1 in 3 chaebol owners’ pay checks remain undisclosed: FSS
Around 1 in 3 South Korean chaebol chiefs are keeping their pay levels confidential as they remain unregistered at boardrooms. As of March, eight out of 26 leaders of conglomerates were not registered board members of their listed holding companies or other major subsidiaries, according to the Financial Supervisory Service on ThursdayThe eight unregistered chaebol leaders include Samsung Electronics Chairman Lee Kun-hee, Hanwha Group Chairman Kim Seung-youn, Asan Foundation Chairman Chung Mong-j
May 4, 2017
-
Corporate spending on entertainment down by 28% after anti-graft act
The entertainment expenses of the 30 largest Korean companies decreased nearly 30 percent on-year in the fourth quarter, following the enactment of the Kim Young-ran anti-graft act last September, according to corporate tracker CEO Score on Thursday. The Kim Young-ran law sets a maximum price limit for food and gifts -- 30,000 won ($26.50) and 50,000 won, respectively -- for public officials and journalists, among other restrictions. CEO Score surveyed the entertainment expenses of 111 local aff
May 4, 2017
-
Korea's online sales hit record high in March
South Korea's online sales continued their upbeat mode to reach a fresh record high in March amid recovering consumer sentiment, government data showed Thursday.Total online transactions reached 6.33 trillion won ($5.58 billion) in March, up 21.3 percent from 5.22 trillion won tallied a year earlier, according to the data by Statistics Korea. (Yonhap)It marked the highest number to date, easily surpassing the earlier record of 6.21 trillion won set in December last year.Purchases made through sm
May 4, 2017
-
US 4th largest market for Korean cosmetics in Q1
The United States ranked as the fourth-largest overseas market for South Korean cosmetic products in the first quarter of 2017 despite concerns of protectionism, a trade association said Thursday. In the January-March period, South Korean companies trailed French, Canadian and Chinese firms in terms of makeup products shipped to the world's largest economy, the Korea Trade-Investment Promotion Agency.In this photo taken on June 12, 2016, a Korean makeup artist puts makeup on a foreigner during a
May 4, 2017
-
Korea's eco-friendly product exports surge 32 pct this year: govt
Korea's eco-friendly product exports surged 32 percent annually in the first four months of 2017, the government said Wednesday.According to the Ministry of Trade, Industry and Energy, outbound shipments of such products as energy storage systems reached around $148 million as of late April.It said exports of EVs centered on the popular Ioniq and Soul reached 4,367 units worth $110 million in the first quarter, a gain of 9 percent from the year before. The Ioniq is Hyundai Motor Co.'s answer to
May 3, 2017
-
Signal error cited as possible cause of shipyard crane collision
Police said Wednesday their investigation into a crane collision that killed six people and injured 25 others at Samsung Heavy Industries’ shipyard in Geoje, South Gyeongsang Province, on Monday, is honing in on the possibility of a signal error as the cause of the incident.According to investigators, police are currently focusing on whether the crane collision was caused due to an error with the start/stop signals that resulted in a miscommunication between the crane operators, adding that ther
May 3, 2017
-
Shipbuilding industry outlook improves
Despite stagnation that has been plaguing the global shipbuilding industry over the past few years, Korea’s big three shipbuilders -- Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering -- have managed to rake in surpluses this year.On the surface, the country’s top three shipbuilders appear to show signs of recovery in the first quarter, as they landed major ship order receipts, looking to overcome the global shipbuilding financial slump. (Yonhap)Las
May 3, 2017
-
Singapore Airlines celebrates 70th anniversary
Singapore Airlines will run a number of promotional events through this month to celebrate its 70th anniversary, the company said Wednesday. “Singapore Airlines has prepared various promotions in May as part of efforts to continuously enhance customer satisfaction for those who have supported our company,” Singapore Airlines said in a statement. (Singapore Airlines is holding promotion events in celebration of its 70th anniversary until the end of May. Singapore Airlines)The carrier plans to giv
May 3, 2017
-
‘LS Group in talks with KKR over sales of LS Automotive’
South Korea’s conglomerate LS Group is in negotiations with US investment behemoth KKR over the sale of LS Automotive, the group’s automotive electric parts-making unit, according to news reports Wednesday.To buy out the 100 percent stake of LS Automotive, KKR is expected to pay the market capitalization of around 1 trillion won ($0.88 billion), said the reports. LS Mtron currently owns a 100 percent stake in LS Automotive. (LS)LS Automotive is the nation’s top domestic automotive switch and re
May 3, 2017
-
Watchdog slaps 2.2 bln won fine on six department stores
Korea's corporate watchdog said Wednesday that it has slapped a combined 2.2 billion won ($1.94 million) in fines on six local department stores for abusing their power to control their subcontractors.The companies -- Shinsegae Department Store, Lotte Department Store, Hyundai Department Store, Hanwha Galleria, NC Department Store and AK Plaza -- were accused of refusing to give back written contracts to their suppliers, or forcing the suppliers to pay for interior remodeling, according to the F
May 3, 2017
-
Manufacturers to operate plants during May holidays
Korean manufacturers said Wednesday they will operate their plants as usual during the May holidays to avoid any production losses.For companies such as chipmaker Samsung Electronics Co., refiner SK Innovation Co. and steelmaker POSCO, it takes time and costs to resume operations in their production facilities following a full-scale halt for a certain period. Samsung Electronics has operated its chip assembly lines around the clock to meet growing demand for high-end products mainly used in hand
May 3, 2017
-
Korean firms win 50 bln won transformer order in Britain
An affiliate of shipbuilder Hyundai Heavy Industries Co. and trading company POSCO DAEWOO secured a 50 billion won ($44 million) transformer order from Britain's National Grid plc, the companies said Wednesday. Hyundai Electric & Energy System and POSCO DAEWOO said they signed the deal to supply 23 high-pressure transformers to electric power stations in Britain for three years ending 2020. (Yonhap)The two Korean firms have already provided 130 billion won worth of transformers to National
May 3, 2017