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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Military aircraft evacuating S. Koreans in Lebanon returns home
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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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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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1,430 minors investigated for drug offenses from 2018 to 2023: police
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Market uncertain on Korea's October rate cut despite slowed inflation
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[Robert Fouser] Why the US election looks so close
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Samsung unveils 'personalized AI' for all devices
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Samsung kicks off marketing drive for Galaxy S8 in Korea
Samsung Electronics Co. started a full-fledged marketing drive for its latest flagship smartphone, the Galaxy S8, in South Korea, industry watchers said Friday, ahead of the official release slated for April 21.Samsung already started displaying the Galaxy S8 and the Galaxy S8 Plus at its main shop located in southern Seoul on Thursday, allowing visitors to experience firsthand the top-notch features and cutting-edge design that has received positive initial reviews from home and abroad.(Yonhap)
March 31, 2017
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Korea's industrial output shoots up 6.6% in Feb.
South Korea's industrial output jumped at the fastest pace in nearly four years in February, government data showed Friday.Production in the mining, manufacturing, gas and electricity industries moved up 6.6 percent last month from a year earlier, marking the highest on-year gain since January 2013, when it posted a 9 percent rise, according to the data by Statistics Korea.(Yonhap)From a month earlier, however, the figure fell 3.4 percent on a sharp drop in chips and cars, backtracking from a 2.
March 31, 2017
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Korea's seaport cargo up 3.7% through Feb.
Cargo processed at South Korean seaports rose slightly in the first two months of the year from a year earlier amid a steady increase in exports, government data showed Friday.Cargo handled at the country's seaports came to 252.25 million tons in the January-February period, up 3.7 percent from 242.31 million tons tallied a year earlier, according to the data by the Ministry of Oceans and Fisheries.(Yonhap)Non-container cargo rose 3.7 percent on-year to 181.37 million tons over the two-month per
March 31, 2017
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US imposes 11.7% duty on steel plate imports from Posco
The US Department of Commerce decided Thursday to impose an 11.7 percent duty on carbon and alloy steel plate imports from South Korea‘s steel giant Posco.The penalty is slightly higher than the department’s preliminary decision made in November to impose a 7.46 percent duty on Posco products, but is still considered a moderate level, compared with duties levied on companies in other countries.(Yonhap)The move affects cut-to-length plate imports.Japanese companies were hit with duties ranging fr
March 31, 2017
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POSCO sees its Q1 net more than double on higher prices
POSCO, the country's top steelmaker, said Thursday that its first-quarter net profit is estimated to have more than doubled from a year earlier, driven by firm demand and higher prices.In a regulatory filing, POSCO said its net profit is estimated at 800 billion won (US$716 million) on a consolidated basis in the January-March period, compared with a profit of 338 billion won a year earlier.Its operating income is forecast to be some 1.2 trillion won, up 82 percent from a year earlier, and its s
March 30, 2017
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Hyundai Merchant expands China-Russia route
Hyundai Merchant Marine Co., South Korea's top shipping firm, said Thursday that it expanded its route linking China, South Korea and Russia as part of an effort to capitalize on a surge in shipping demand. (Yonhap)The shipper has been providing its shipping services on the route along with Russian shipping firm FESCO and French firm CMA-CGM.Under the expanded service, Hyundai Merchant will mobilize one container ship for the route every week, with FESCO to put two container vessels into operati
March 30, 2017
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[Seoul Motor Show] Hyundai shows off connected mobility, clean energy
Expressing confidence in the areas of future automotive technology, Hyundai Motor unveiled the latest hyper-connected car and autonomous driving technologies at the press preview for the Seoul Motor Show on Thursday, calling them technologies to change overall lifestyle. The nation’s largest carmaker introduced a self-developed platform for connected car service, suggesting that convergence between the automotive and Internet of Things services will place cars as the control tower of smart home
March 30, 2017
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Organica’s revenue skyrockets with focus on value in nature
A natural food company that initiated a food revolution from a small workshop in Samcheong-dong in 2012 is making its mark in the South Korean food industry. Organica, the organic food developer under Herald Corp., saw its annual revenue jump 108-fold to 86.5 billion won ($77.4 million) in 2016 from 800 million won in 2013. According to the company’s forecast, its revenue is likely to hit 120 billion won this year, which will put the firm on the list of the nation’s 100 largest food companies.Or
March 30, 2017
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Regulator to conduct special audit on Samsung BioLogics
South Korea's financial regulator said Thursday that it will conduct a special audit on Samsung BioLogics Co., a biopharmaceutical unit of Samsung Group, over alleged accounting irregularities.The Financial Supervisory Service made the decision on Wednesday, an FSS official said. (Yonhap)The FSS official, who spoke on the condition of anonymity, said the regulator found "unclear parts" in an audit report of Samsung BioLogics, which was revised by the Korean Institute of Certified Public Account
March 30, 2017
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Think tank ups Korea's 2017 growth estimate
The South Korean economy is likely to grow at a faster pace than previously expected in 2017 on the back of rising exports, a leading private think tank said Thursday.In its latest economic outlook, the Korea Economic Research Institute (KERI) projected Asia's fourth-largest economy to grow 2.5 percent this year, up from its earlier 2.1 percent estimate made in December. (Yonhap)The think tank forecast the South Korean economy to expand 2.3 percent in the first half of this year and 2.7 percent
March 30, 2017
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Korea's fisheries farming output falls in 2016
South Korea's output from fisheries farms fell slightly last year from a year earlier due mainly to a drop in demand for seafood, government data showed Thursday.Local fishing farms produced 80,151 tons of fishery products in 2016, down 6.2 percent from the previous year's 85,448 tons, according to the data by Statistics Korea.(Yonhap)But the total value edged up 0.9 percent on-year to 904.6 billion won last year on the back of a gain in flatfish prices.The statistics office said seafood consump
March 30, 2017
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Korea ranks world No. 4 for most Starbucks stores per capita: data
South Korea has the world's fourth largest number of Starbucks Coffee stores in relation to its population, industry data showed Thursday.Starbucks Coffee Korea, the local unit of the US coffee giant, said it has 1,008 stores across the country as of the end of February, meaning one outlet for every 50,000 South Koreans. South Korea's population is 50.5 million as of the end of July last year.(Yonhap)Canada topped the list with 1,035 shops for a population of 36.2 million, translating into one s
March 30, 2017
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Korean firm shuts down battery plant in China: source
South Korea's SK Innovation Co. halted operation of its battery packing plant in China in January as its business suffered in the face of Beijing's move to stop a subsidy to electric vehicle makers that use parts from non-Chinese manufacturers, sources said Wednesday.Orders for the joint venture between Korea's major energy and chemical company and two Chinese firms began to fall in the fourth quarter of last year after the Chinese government introduced a verification system for companies that p
March 29, 2017
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Korean Air, Delta Air sign for JV on trans-Pacific routes
Korean Air Lines Co. and Delta Air Lines on Wednesday agreed to set up a joint venture on trans-Pacific routes in an expanded partnership to enhance customer convenience.The companies said in a joint statement that the initial agreement reached near Incheon International Airport in South Korea will strengthen their competitiveness and improve service to customers."This agreement deepens our long-standing partnership with Korean Air and will provide the global access and seamless service our cust
March 29, 2017
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[Photo News] Posco Prize
Posco Chairman Kwon Oh-joon (right) and recipients of the Posco TJ Park Prize 2017 pose for a photo during a ceremony held at the steelmaker's Seoul office Wednesday. The prize, named after Posco founder Park Tae-joon, honors scientists and scholars for their contributions to society and scientific development. (Posco)
March 29, 2017
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Incheon Airport celebrates its anniversary
Incheon International Airport CEO Chung Il-young (front, fifth from right) poses with award recipients during the first Incheon Airport Awards, which were presented to companies in the aviation industry that showed exemplary performances. The awards selected four companies in different categories: Korean Air, Asiana Airport, SM Duty Free and Asiana Airlines. The event, which coincided with the airport’s 16th anniversary, was organized in celebration of Incheon Airport being named the best airpor
March 29, 2017
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DSME chief urges workers to accept pay cuts
The head of the ailing shipbuilder Daewoo Shipbuilding and Marine Engineering on Wednesday urged employees to take part in a pay cut, warning that it is their last chance to save the company. Jung Sung-leep, the president of DSME, asked workers to undergo a pay cut of 10 percent saying it is for the sake of the company’s survival. Jung Sung-leep, CEO of DSME, explains the company`s restructuring plans to the media on Friday. (DSME)“Before I ask you to join the pay cut move, I will return 100 pe
March 29, 2017
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Hankook Tire to globalize through reforms in distribution
Hankook Tire is setting out to fortify its distribution capacity this year as part of efforts to solidify its status as a global top-tier brand, the company said Wednesday.To suit customers, whose preferences have been diversifying with the development of automobiles, the company is considering putting forward T’Station as a multi-brand shop. Following its launch in July 2004, some 560 stores are now operated nationwide to provide total service for automobiles.Going forward, T’Station stores wil
March 29, 2017
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Nongshim launches new stir-fried Neoguri
Nongshim recently released its first seafood stir-fried udon ramen, “Stir-fried Neoguri,” which puts a spin on the popular 35-year-old Neoguri ramen, the company said Wednesday. Stir-fried Neoguri (Nongshim)Nongshim released the latest product on Feb. 27, but began its research in 2013, when the popularity of “Jjapaguri,” a combination of Jjapaghetti (instant black bean noodle ramen) and Neoguri hit the nation. It took the company two years to translate Neoguri’s original flavor into a stir-frie
March 29, 2017
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3M Korea, local drugmakers face temporary import, sales ban
South Korea’s Ministry of Food and Drug Safety on Tuesday slapped 3M Korea and two local drugmakers with a temporary import, marketing and sales ban for breaching local pharmaceutical regulations.The local branch of US-based 3M, 3M Korea, which produces and sells office supplies and medical products here, faces a one-month sales ban on three products the ministry found were imported and sold from 2011 to 2015 without undergoing proper declaration procedures.The three 3M products include the 3M C
March 29, 2017