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
Military aircraft evacuating S. Koreans in Lebanon returns home
-
5
Controversial cult leader’s sentence reduced to 17 years
-
6
Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
-
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
-
[Monitor] US imposes 11.7% duty on Posco steel plate
Last week, the US Department of Commerce decided to impose an 11.7 percent duty on carbon and alloy steel plate imports from Posco, South Korea’s steel giant, raising hope for moderate levels of duties in pending antidumping cases.The rate is higher than its November decision of 7.46 percent, but is still considered modest compared to duties imposed on companies from other countries. The department had been reviewing the case after three US steel firms filed a complaint that Posco and others fro
April 2, 2017
-
Apple, Google’s joining Toshiba bid lowers SK hynix’s chance
With Apple and Google joining the bidding war for Toshiba’s chip unit, the race has become more competitive, lowering the chances of SK hynix winning the bid, analysts said on Sunday. According to a Japanese newspaper on Saturday, US tech firms Apple, Google and Amazon threw their hats into the Toshiba bid. Currently, there are 10 bidders including the world’s third largest NAND flash maker Western Digital, Korean chipmaker SK hynix, Taiwanese tech firm Hon Hai and US chipmaker Broadcom. Toshiba
April 2, 2017
-
[News Focus] Kumho Asiana gears up for legal battle over tire unit
Stakes are running high as Kumho Asiana Group gears up for a legal fight over the acquisition of a controlling stake in Kumho Tire, as it continues to demand that creditors allow Chairman Park Sam-koo to form a consortium to fund the purchase.The main point of conflict currently involves the deadline upon which Park is to specify whether he would move to buy back the 42 percent controlling state that is to be sold to Chinese tire maker Doublestar unless he does. On Friday, Park rejected an April
April 2, 2017
-
Retailers customize marketing with artificial intelligence
Korean retailers are seeking to provide customized and real-time shopping solutions for consumers using artificial intelligence in hopes of racking up sales in a sluggish retail economy.SK Planet‘s online open market platform 11st kicked off the trend with the commercial release of a chatbot named Baro on Wednesday. Baro is designed to complement 11st’s digital concierge service that allows for real-time product consultations through the 11st smartphone app. It is currently available for product
April 2, 2017
-
Probes into SK, Lotte, CJ to hasten
South Korea’s prosecution is likely to accelerate its investigation into tycoons at SK, Lotte and CJ this week, over whether their donations to culture and sports foundations were bribes to get favors from former President Park Geun-hye, who was arrested over the weekend.To minimize the impact on the May presidential election, the prosecution is seen moving quickly to conclude investigations of SK Chairman Chey Tae-won, Lotte Chairman Shin Dong-bin and CJ Chairman Lee Jay-hyun, observers said.Th
April 2, 2017
-
Lotte to face drawn-out biz suspension in China over THAAD row
South Korean retail giant Lotte Group's Chinese retail operations may face protracted business suspension as Chinese authorities are set to extend such a measure by one month in an apparent retaliation against Seoul's decision to deploy a US missile defense system, industry sources said Sunday.According to Lotte, 90 Lotte Mart stores operating in China, Lotte's hypermarket chain, have been placed under suspension due to their failure to meet fire or other regulations or on voluntary suspension s
April 2, 2017
-
Lotte sees brand value rise despite THAAD row
South Korean retail giant Lotte Group saw its brand value rise in the first quarter of this year despite China's retaliation against the conglomerate over a controversial missile defense system, a poll showed Sunday.Brandstock, a South Korean market research firm that determines the rankings of local brands, said in its latest survey that most Lotte units saw their brand rankings improve in the January-March period from three months earlier. (Yonhap)Lotte World Adventure and Lotte Department Sto
April 2, 2017
-
Samsung adds more patents in US to gird for disputes
The number of patents registered by Samsung Electronics Co. in the United States last year increased some 9 percent as the tech giant battles for an upper hand in the ongoing global patent war.The world‘s No. 1 maker of smartphones said it registered 5,518 patents in the US last year, compared with 5,072 in 2015, 4,952 in 2014, 4,676 in 2013 and 5,081 in 2012, according to the data shown in its annual business report. (Yonhap)Since 2006, Samsung Electronics has been maintaining its status as fil
April 2, 2017
-
Samsung Electronics' earnings forecast rises 20% in 3 months
The average earnings forecast for Samsung Electronics Co., one of the world’s largest makers of smartphones and computer chips, rose 20 percent in the past three months on strong global demand for its semiconductors and prospects of sustained growth, industry sources said Sunday. According to data collected by market researcher FN Guide, local brokerages on average expect the tech giant‘s operating income to have reached 9.21 trillion won ($8.23 billion) in the first quarter, with sales and net
April 2, 2017
-
Department store sales fall short of landmark W30tr won in 2016
South Korea's department store market is estimated to have fallen short of a landmark 30 trillion won ($26.8 billion) last year, due to weaker-than-expected sales amid the high-profile scandal that led to former President Park Geun-hye's impeachment and the growth of online shopping, industry sources said Sunday.Domestic department stores were expected to emerge from years of stagnation to post growth last year as leading players aggressively expanded stores and online distribution channels. (Yo
April 2, 2017
-
Hyundai Steel labor union expands CSR programs
Hyundai Steel has been participating in voluntary programs across the country as part of its corporate social responsibility, said the company Friday.The labor union of Hyundai Steel’s Incheon factory helped eliminate cordgrass, a plant that slows down the tide and destroys the ecosystem of mudflats, at Dongmak beach Thursday. The labor union of Hyundai Steel’s Incheon factory poses during a volunteer program to eliminate cordgrass at Dongmak beach in Incheon. (Hyundai Steel)The union of the com
March 31, 2017
-
Businesses remain mum amid fears over Park’s arrest
South Korean businesses remained silent Friday over the court’s ruling to arrest former President Park Geun-hye, fearing its impact on the upcoming trials over their dubious ties to her.An official trial of Samsung’s de facto leader Lee Jae-yong is set to begin on April 7 over allegations that he lobbied Park in exchange for business favors given to her longtime friend Choi Soon-sil. South Korea’s largest conglomerate is worried that the court’s decision to put the former president behind bars c
March 31, 2017
-
Korea's antitrust watchdog awarded for Qualcomm ruling
South Korea's antitrust watchdog said Friday that it has been honored with a world-renowned competition award for its 1 trillion won ($895 million) fine ruling against global giant Qualcomm Inc. (Yonhap)The Fair Trade Commission (FTC) in December made the record ruling against the San Diego-based company and its two affiliates for violating the country's competition act by refusing to offer licenses to chipset manufacturers and demanding high fees for patents used by smartphone makers.The Global
March 31, 2017
-
[Photo News] Innisfree opens first store in Indonesia
INNISFREE ENTERS INDONESIA -- Beauty consultants pose at Amorepacific’s Innisfree store in Jakarta, the cosmetic giant’s first store in Indonesia, Friday. It officially opened on March 24. (Innisfree)
March 31, 2017
-
Celltrion challenges 5 of Genentech’s Herceptin patents in US
South Korea’s Celltrion said Friday that it has filed five petitions for an inter partes review of Genentech’s US patents on its blockbuster breast cancer drug Herceptin, as it prepares to launch Herzuma, its biosimilar version of Herceptin, in the US. Celltrion has filed applications with the US Patent and Trademark Office challenging five patents on Herceptin held by Roche-owned Genentech from the course of Feb. 20 to March 24, the company said. The patents in question concern Herceptin’s admi
March 31, 2017
-
Doosan affiliates forecast to see improved earnings this year
Affiliates of construction and power equipment conglomerate Doosan Group are expected to further improve their bottom lines this year, aided by increased sales and cost-cutting measures, an executive said Friday."This year, key Doosan affiliates are forecast to post improved earnings this year, and we will strive to meet our goals," Doosan Corp. vice chairman Lee Jae-kyung said at a shareholder meeting.(Yonhap)The executive said Doosan Heavy Industries & Construction Co., the country's top power
March 31, 2017
-
Galaxy S8 may ship with Google's AI program
An artificial program promoted by Google Inc. may ship with Samsung Electronics Co.'s latest smartphone, the Galaxy S8, that will come with the tech giants own Bixby voice support program, the industry sources said Friday.According to the sources, the Galaxy S8, which runs on the Android 7.0 Nougat operating system, will likely have the Google Assistant program, which has similar features to Bixby.(Yonhap)Bixby is seen as one of the key features of the Galaxy S8 that was unveiled earlier in the
March 31, 2017
-
Samsung set to announce Q1 earnings guidance next week
Samsung Electronics Co., set to announce its first-quarter earnings guidance next week, may report forecast-beating performance results largely backed by its chip business, industry sources said Friday.Although the tech giant announces detailed figures of each business later in the month, Samsung's chip business is presumed to be the top contributor for its stellar performance. they said.(Yonhap)Some brokerage houses here expect Samsung's first-quarter operating profit to hover above its previou
March 31, 2017
-
LS Cable & System to acquire US power cable plant
LS Cable & System said Thursday it will buy a power plant located in North Carolina from LS Corporation's subsidiary Superior Essex with an investment of $24.6 million.“As Superior Essex has less experience in power cable business, it would be more efficient for LS Cable & System to acquire and operate the unit,” said Myung Roe-Hyun, chief of LS Cable & System in the company’s statement.(Yonhap)“By securing the business base in the US, LS Cable & System is also expected to prepare for the US pro
March 31, 2017
-
Daewoo Shipbuilding labor union pressed to present written pledge for 'no strike'
Creditors of cash-strapped Daewoo Shipbuilding & Marine Engineering Co. have asked the shipyard's labor union to submit a written pledge not to launch any strikes in protest over bold restructuring moves, industry sources said Friday.The creditors, led by the state-run Korea Development Bank, demanded that the union present the written pledge by the end of next week, which they see as leverage to pressure corporate bondholders and commercial lenders to join a 6.7 trillion won ($5.98 billion) res
March 31, 2017