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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Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
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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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[Weekender] Rising market shields consumers from fine dust
Fighting pollution is no longer a seasonal task, and consumers are now preparing for an ongoing war against fine dust.According to South Korea’s biggest discount store chain E-mart, sales of air purifiers increased on-year by 86.1 percent during the week of March 17 to 23. Masks registered a 21 percent on-year increase in the same week. Due to popular demand, online retailer Coupang has created a “Spring Season Fine Dust Impenetrable Defense” category that consists of 170 products, ranging from
April 7, 2017
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[Eye] Zero Space seeks to create ethical fashion that appeals on design
Starting from the heart of the buzzing Dongdaemun Fashion District in downtown Seoul, a brisk 15 minutes’ walk uphill through winding alleyways leads to a different, quieter world. The steep roads are lined with tiny garment factories marked by yellow triangular flags bearing their names. “Best ladies’ apparel,” one flag proclaims. “30 years’ experience. Best quality for all clothes,” another boasts.The neighborhood of Changsin-dong is where much of the clothing sold in Dongdaemun is quickly mad
April 7, 2017
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[Weekender] Rising market shields consumers from fine dust
Fighting pollution is no longer a seasonal task, and consumers are now preparing for an ongoing war against fine dust.According to South Korea’s biggest discount store chain E-mart, sales of air purifiers increased on-year by 86.1 percent during the week of March 17 to 23. Masks registered a 21 percent on-year increase in the same week. Due to popular demand, online retailer Coupang has created a “Spring Season Fine Dust Impenetrable Defense” category that consists of 170 products, ranging from
April 7, 2017
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LG Electronics estimates Q1 operating profit at 922 bln won
LG Electronics Inc. said Friday its first-quarter operating profit is estimated at 922 billion won ($812.3 million), a market forecast-beating figure, apparently helped by robust sales of premium electronics coupled with reduced losses from the smartphone business.(Yonhap)The latest figure marks an 82.4 percent jump from 505.1 billion won posted in the January-March period of 2016, South Korea's No. 2 tech giant said in a regulatory filing.It also turned black from an operating loss of 35.2 bill
April 7, 2017
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Samsung forecasts second-highest profit in Q1
Samsung Electronics forecast it posted 9.9 trillion won ($8.7 billion) in operating income in the first quarter, recording a nearly 50 percent on-year jump. Beating market expectations, the Korean tech giant estimated Friday it posted 50 trillion won in sales and 9.9 trillion won in operating income, 0.44 percent and 48.2 percent rises on-year. The operating profit is the second-highest profit total since the company recorded 10 trillion won in the third quarter of 2013.The earnings surprise was
April 7, 2017
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Low-cost carrier demand will continue to grow: Boeing
The Korean low-cost carrier market has virtually “no limit” to potential expansion, according to a Boeing executive Friday.Speaking at a symposium about the global low-cost carrier market at the Conrad Seoul, Boeing’s Managing Director of Marketing for Northeast Asia Darren Hulst did not agree with concerns about the low-cost market reaching a saturation point. Boeing Managing Director of Marketing for Northeast Asia Darren Hulst speaks at the Conrad Seoul Friday. (Boeing Korea)“There’s addition
April 7, 2017
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[Newsmaker] ‘Europe’s unitary patent system will bring benefits to Korean firms’
South Korean companies will benefit from the upcoming unitary patent system in Europe, which simplifies and lowers the cost of applications, the European Patent Office’s principal director for unitary patents said Friday. “By reducing costs and complexity of the process, the unitary patent system will benefit South Korean companies, one of the most active applicants to the EPO,” Margot Fröhlinger, the principal director for unitary patent, European and international lega
April 7, 2017
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Samsung kicks off preorders for Galaxy S8
Samsung Electronics Co. started preorders for the Galaxy S8 on Friday, with the tech giant seeking to have the new flagship break the previous sales record set by the short-lived Galaxy Note 7.While the 5.8-inch Galaxy S8 comes with a price tag of 935,000 won ($826), the device can be purchased as low as 631,400 won considering discounts provided by mobile carriers. Similar benefits will also be applied on its larger brother, the 6.2-inch Galaxy S8 Plus.Visitors experience Samsung Electronics' G
April 7, 2017
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[News Focus] Gold mine or land mine? Kepco weighs NuGen
South Korea’s state-owned electricity supplier is toying with the option of joining a nuclear plant project in the UK, weighing the pros of expanding its global account and the cons of entering the shaky venture. Last month, the head of Korea Electric Power Corp. had expressed his interest in joining the nuclear plant project in the UK, confirming market speculation that Kepco might purchase Toshiba’s stake in the project. At that time, Toshiba was holding a 60 percent stake in the
April 6, 2017
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Samsung ordered to pay $11 million to Huawei over patent case
Samsung Electronics’ three subsidiaries in China were ordered by the regional court to pay $11.6 million to Huawei over patent cases, according to news reports Thursday. The regional court in Quanzhou reportedly ordered Samsung Electronics’ subsidiaries, including Samsung China Investment and two units of Samsung Electronics in Huizhou and Tianjin, to pay 80 million yuan ($11.6 million) for infringing on patents of Huawei Device, the handset unit of Huawei.Samsung’s spokesperson said it will tak
April 6, 2017
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[Photo News] Shinsegae hosts famers market project
Holding their own local produce, farmers from different regions pose at the 2017 Shinsegae Farmers Market on Thursday. Shinsegae’s farmers market project aims to directly connect local produce to consumers. The event was held at Shinsegae Department Store’s main branch in Jung district, Seoul. (Yonhap)
April 6, 2017
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Will Hotel Shilla put end to downward spiral?
Amid its overseas expansion as a duty-free shop operator, there are expectations for Hotel Shilla to end its downward spiral that has lasted for almost two years sparked by a series of external risks. Local analysts Thursday pinned hopes on Samsung Group’s affiliate devoted to duty-free shops and accommodations, as it won a license for a duty-free shop selling perfumes, cosmetics, fashion items and accessories at Hong Kong Chek Kap Kok International Airport the previous day. (Herald DB)Yang Il-w
April 6, 2017
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Samsung Electronics executives’ salary doubled
Along with the rapid growth that Samsung Electronics has enjoyed in terms of size and revenue over the past 10 years, the annual income given to the tech giant’s executives has also doubled, the company said Thursday.According to a report by the company, an executive received 107 million won ($94,400) on average last year from 50 million won in 2005. The gender difference in wages also narrowed, with male employees earning 116 million won a year while female workers took 81 million won. In 2005,
April 6, 2017
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Chip market springs upward, industry’s profit increases 60%
The operating profits of major semiconductor companies in South Korea are expected to have increased almost 60 percent in the January-March period.Securities firm FnGuide released the forecast for an on-year increase Thursday, which would take profits to 11.7 trillion won ($10.3 billion). (Yonhap)Samsung Electronics and SK hynix, South Korea’s two largest semiconductor manufacturers, are reported to post stronger profits during the first quarter as demands grow worldwide.Samsung Electronics, the
April 6, 2017
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Korea speeds up plan to build 200 charging stations for green cars
The South Korean government is moving to fast-track its plans to build around 200 stations to charge engines operated by electricity, fuel cells and liquefied petroleum gas by 2025 by holding discussions with legislators and preparing due revision bills.The Ministry of Land Transport is set to unveil plans to open multipurpose service areas for motorists driving green cars at a roundtable discussion to be held Friday together with the National Assembly and the ministries of environment and comme
April 6, 2017
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No bids for Incheon Airport’s T2 fashion duty-free area
No bids were placed for the fashion and accessories duty-free area in the second terminal at Incheon Airport, officials said Thursday.A spokesman for the airport corporation said the result was “unexpected” and the airport was currently “reviewing plans for another tender.”(Yonhap)The fashion and accessories area was one of three licenses open to bids from large companies at the second terminal. Four companies, including Lotte Duty Free, Shilla Duty Free, Shinsegae DF and Hanwha, placed bids on
April 6, 2017
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[Superrich] Clio’s stock price rises despite China’s retaliation
Cosmetics brand CEO Han Hyun-ok has been enjoying an increase in her stock value, even amid faltering operations overseas following China’s retaliation against Korean companies over Seoul’s hosting of the US’ Terminal High Altitude Area Defense anti-missile system.Established in 1997, CLIO is a domestic cosmetics brand specializing in color cosmetics. Its success led to Han becoming the only self-made woman listed among “Korea’s Richest 100.”The company adapted the original equipment manufacture
April 6, 2017
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[Superrich] Shinsegae jumps into cosmetics industry
Competition in the Korean cosmetics industry is likely to become fiercer, as E-mart has launched Scentence, a cheap but high quality cosmetics brand.Currently, the cosmetic market is led by Amorepacific. Suh Kyung-bae, Amorepacific’s chairman since 1997, has been able to keep his company’s No. 1 position in the industry largely thanks to the success of Sulwhasoo. It was the first domestic beauty brand to reach sales of 1 trillion won ($883 million) in 2015 and has maintained its No. 1 position i
April 6, 2017
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[Superrich] Former immigrants who are billionaires
Some of the richest people in the world left their home countries in pursuit of new opportunities, both in the business world and in life.The Hurun Research Institute’s Hurun Immigrant Billionaires 2017 report indicated that around 13 percent (300 people) of the world’s billionaires are immigrants with most of them heading to the US (73 people), Switzerland (42 people), the UK (39 people) and Russia (20 people).Their average asset value was worth 42.3 trillion won ($38 billion). (Hurun.net)The
April 6, 2017
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Hanwha Galleria to open luxury outlet in Gwanggyo
Hanwha Galleria said Thursday that it plans to open a new luxury department store in Gwanggyo, a new city in Suwon in 2019.Set to open on the 40th anniversary of the company’s department store business, the department store will be designed by Dutch architect Rem Koolhaas. The design for Hanwha’s new convention complex in Gwanggyo (Hanwha Galleria)Hanwha Galleria said that it will use its expertise in global luxury brand marketing and the new outlet’s location next to Gwanggyo Lake Park to crea
April 6, 2017