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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Korea to lend rare minerals to local businesses
South Korea's industry ministry said Sunday it will launch a program to lend rare minerals to key businesses, including chipmakers, in case of unexpected supply shortages.The Ministry of Trade, Industry and Energy said it has completed securing reserves of around 10 kinds of rare minerals, including molybdenum and chrome, which can be provided to local firms for up to three months. The Ministry of Trade, Industry and Energy (Yonhap)The ministry said the program aims to guarantee a stable supply
March 26, 2017
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Lotte strives to contain China fallout over Thaad row
A message in Chinese is on display at Lotte Department Store in Sogong-dong, central Seoul, on Sunday. (Yonhap)Lotte Group appears to be in dire efforts to soothe Chinese customers amid an escalating diplomatic spat over South Korea’s decision to deploy the US anti-missile system at property formerly owned by the retail giant. In a recent move, Lotte Department Store has displayed printed messages outside of its branches in Myeongdong and Jamsil that read “We understand you. So we are waiting fo
March 26, 2017
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Automobile sales inch down in Korea on economic slump
The number of cars newly registered in South Korea edged down in 2016 from a year earlier, data showed Sunday, as the prolonged economic slump weighed down consumers' sentiment.According to the data compiled by the Korea Automobile Manufacturers Association, new vehicle registrations came to 1.82 million units last year, down 0.6 percent from 2015. (Yonhap)Industry watchers said the decline came as South Koreans in their 30s and 40s were less inclined to buy new cars amid the gloomy economic out
March 26, 2017
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Korea's industrial output seen rising 3.7% in Feb.
South Korea's industrial output is expected to move up 3.7 percent on year in February, compared with a 1.7 percent growth tallied a month earlier, according to an estimate by an international ratings agency on Sunday.Stronger global demand for electronics is likely to boost the nation's industrial production last month, Moody's Investor Service said in a statement. (Yonhap)"We expect industrial production to have expanded 3.7 percent y/y in February, up from January's 1.7 percent y/y gain," the
March 26, 2017
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Korean Air forecasts over W840b in profits
Korea’s largest air carrier forecast over 840 billion won ($747.7 million) in operational profits this year at a shareholder meeting Friday morning, the first session to be led by new President Cho Won-tae.“This year, we have decided that our management policy will be to create a sustainable business that can produce profits even in times of rapid environmental change,” Cho said at the meeting.Cho Won-tae, President of Korean Air (Korean Air)It was the first time that Cho Won-tae led a sharehold
March 24, 2017
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11-year-old Samsung shareholder speaks up
On Friday, the bigwig business executives of one of the world’s largest IT companies, got an unexpected earful from one of its shareholders: an 11-year-old and a proud owner of two Samsung Electronics shares. Identified only by his surname Yu, the fifth-grader at an elementary school, bravely took the chance to stand up and comment on Samsung’s embarrassing recall of the Galaxy Note 7 at the company’s general shareholder meeting held earlier in the day. Samsung Electronics Vice Chairman Kwon Oh
March 24, 2017
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Holding firm transition on hold: Samsung Electronics
Samsung Electronics Vice Chairman Kwon Oh-hyun said Friday that it will be difficult to push for a transition into a holding company for now, delaying its decision on restructuring amid a corruption scandal that led to the arrest of Samsung’s de factor leader Lee Jae-yong.His comments gave a negative signal on the tech giant’s plan announced in November to split the firm into a holding company and an operating unit within six months. Samsung Electronics Vice Chairman Kwon Oh-hyun (left) speaks d
March 24, 2017
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Daewoo Shipbuilding to focus on specialty vessels, eyes turnaround in 2017
Daewoo Shipbuilding & Marine Engineering Co., South Korea's embattled shipbuilder, said Friday that its portfolio will be mostly made up of LNG carriers and other specialty vessels, with the company expecting a business turnaround this year.Its rosy outlook came a day after the country's state-run creditors of the shipyard, the world's largest by order backlog, announced a fresh rescue package worth 6.7 trillion won ($5.98 billion), but only if all stakeholders agree to a painful debt-for-equity
March 24, 2017
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Hyosung holds fabric development workshops in Greater China
Hyosung held its fabric development workshop known as Creora Workshop in China, Hong Kong and Taiwan, from March 6 to 17, the company said Friday.The 20 Asian client companies that Hyosung visited included fabric and sewing companies, such as China’s Best Pacific and Derun, and Taiwan’s Newwide , as well as fashion brands like LiNing China, Victoria’s Secret Hong Kong and GAP. (Creora)The workshop provided customized information on recent business trends to the client companies, Hyosung said. Fa
March 24, 2017
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Major shipyards vow to continue cost-cutting measures, boost profitability
South Korea's two major shipbuilders -- Hyundai Heavy Industries Co. and Samsung Heavy Industries Co. -- said Friday that they will strive to boost their profitability via increased orders and continued cost-cutting measures.At a shareholders meeting, Park Dae-young, president of Samsung Heavy, said the shipyard will continue to work toward efficient management while implementing its self-rescue measures as scheduled. (Yonhap)"In order to survive, we will make efforts to secure competitiveness a
March 24, 2017
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Daewoo Shipbuilding labor union says ready to share 'pain'
The labor union of embattled Daewoo Shipbuilding & Marine Engineering Co. said Friday that it is willing to accept a proposed pay cut for workers from the shipyard's creditors, proposing four-party talks aimed at helping the shipyard stay afloat.The labor union's action came a day after the country's state-run creditors of the shipyard, the world's largest by order backlog, announced a fresh rescue package worth 6.7 trillion won ($5.98 billion) to the ailing shipbuilder, but only if all stakehol
March 24, 2017
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Limited editions of iPhone 7 to reach Korea
South Korean mobile carriers said Friday they will start selling the red iPhone 7 and iPhone 7 Plus line later this week, ahead of the planned release of a new flagship by Samsung Electronics Co., presumed to be the Galaxy S8.The country' three mobile carriers -- SK Telecom Co., KT Corp., and LG Uplus Corp. -- plan to roll out the latest iPhone smartphones on Saturday. It marks the first time for US giant Apple Inc. to release a red-colored iPhone. An image of red-color iPhone 7 and iPhone 7 Plu
March 24, 2017
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Samsung to completely disable Galaxy Note 7 battery charge
Samsung Electronics Co. said Friday it will completely disable the charging of the faulty Galaxy Note 7 phablets that have not yet been returned, starting later this month through software updates.Samsung launched the Galaxy Note 7 last year, but the sales were soon suspended on reports of some of the devices catching fire while being charged. An image of the Galaxy Note 7 (Yonhap)The tech giant has been rolling out replacement programs while limiting the products' batteries from being charged b
March 24, 2017
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Korea's May holiday set to spark exodus
A large number of South Koreans are expected to make overseas trips during the country's "golden holidays" in early May, industry sources said Friday, sparking concerns over a big tourism deficit amid a tumble in Chinese visitors.South Korea marks Buddha's Birthday on May 3 and then Children's Day on May 5. Having a day off on May 4 can make it a five-day holiday.This undated file photo shows the departure lounge of Incheon International Airport being packed with outbound travelers. (Yonhap)Loca
March 24, 2017
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Hanhwa Q Cells to jack up solar cell, module output
Hanhwa Q Cells Co., a major solar panelmaker here, said Friday that it will raise its output of solar cells and solar modules to a combined 6.8 gigawatts this year, as part of efforts to meet growing demand and cement its share in the global market.Its Malaysian facility will have an annual capacity of 2 GW worth of solar cells and solar modules this year, from the current 1.4 GW, with the output capacity of its Chinese plant to be raised to 2.6 GW by the end of the year. (Yonhap)Hanwha Q Cell a
March 24, 2017
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Samsung Electronics joins Swiss watch exhibition
Samsung Electronics Co. said Friday it has opened up a booth at a watch exhibition currently underway in Switzerland, in line with its efforts to bolster its wearable business.The South Korean tech giant plans to promote its smartwatches at Baselworld 2017, which runs through Thursday in Switzerland.Samsung said it will promote the Gear S3 smartwatch, as well as other concept products at the fair."We hope the Gear S3 will be beloved not only by the users of smartwatches, but by traditional fans
March 24, 2017
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LG's smartphone turnaround hinges on G6
Sliding through a photo gallery of LG Electronics Inc.'s new G6 smartphone, Park Yong-ho, an employee in his 30s at a mobile-phone store in Seoul, shows off what he calls the most vivid images taken by a smartphone. "Can you believe it? These photos look like they were taken by a DSLR camera," Park said, adding that the device's full-size screen enables users to take and review photos simultaneously. (Yonhap)Asked how many G6 smartphones he sold these days, Park declined to comment. Park said, h
March 24, 2017
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Responsibility, transparency, social value top agendas at shareholder meetings
Listed firms are trying to appeal to their shareholders by showing responsibility and transparency at upcoming meetings, amid rising anti-business sentiment in the aftermath of a corruption scandal here involving the former president and major conglomerates. For more than a thousand listed companies here, this week has been tense due to preparations for shareholder meetings mostly slated for Friday. (Yonhap)According to the Korea Securities Depositary, a total of 1,017 companies were scheduled
March 23, 2017
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Caffeine shampoo enters Korean market
Alpecin, a German shampoo brand that uses caffeine to reduce the effects of hair loss, has officially entered the Korean market.At a press conference Thursday, Alpecin Korea Business Development Manager Yoo Min-jung said that although Korea has a large market for hair loss products, there is low awareness about the positive effects of caffeine on hair growth.Citing a study conducted jointly with Nielsen Research, Yoo said that “although 85 percent of surveyed men answered that they were concerne
March 23, 2017
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Samsung BioLogics wins 2017 CMO Leadership Awards
South Korea’s Samsung BioLogics announced Thursday that it has received the 2017 CMO Leadership Awards presented by the Life Science Leader magazine for the third consecutive year. The company was awarded in all of the six categories in consideration -- overall quality, reliability, capabilities, expertise, compatibility and development.“Samsung BioLogics is honored to once again receive the CMO Leadership Award, which recognizes contract manufacturing organizations of the highest quality,” Sams
March 23, 2017