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 unveils W2.9tr additional rescue plan for DSME
South Korea’s finance regulator and state-owned creditors of the troubled Daewoo Shipbuilding & Marine Engineering unveiled Thursday an additional 2.9 trillion won ($2.6 billion) rescue plan that depends on whether all stakeholders agree to share the burden of a debt-to-equity swap. The main creditors Korean Development Bank and Export-Import Bank of Korea suggested the additional rescue plan less than two years after a 4.2 trillion won package was decided on in October 2015, reversing an earlie
March 23, 2017
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LG G6’s video goes viral on YouTube
LG Electronics’ online video promoting its new flagship smartphone G6 has gone viral on YouTube, according to market data Thursday. According to data released by video analytics company Visible Measures, LG’s video titled “G6 x Dance” was the most viral video from March 7 to 14, as it has spread rapidly through online sharing. “G6 x Dance,” which drew 29 million views last week, is a 74-second video clip featuring a Parkour athlete learning dance from a hip-hop dancer. Parkour is a type of physi
March 23, 2017
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Korea, China, Japan to cooperate on LNG purchase
The Korea Gas Corp., the world's fourth-largest LNG buyer, said Thursday that it has reached a deal with its counterparts in China and Japan to cooperate on jointly purchasing LNG and sharing related information. (Yonhap)Under the memorandum of understanding with Japan's JERA and China's CNOOC, KOGAS will work together with the two companies to create a "favorable" environment for LNG purchases, the utility firm said.South Korea, Asia's fourth-biggest economy, is one of the largest consumers of
March 23, 2017
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Korean firms need advisers to succeed in China
South Korean companies need advisers, instead of lobbyists, if they want to be successful in China, a global consultancy said Thursday. In a seminar hosted by the Korea Chamber of Commerce and Industry in Seoul, consultants from Control Risks, a London-based risk consulting firm, made the suggestion to South Korean companies operating in China. (Yonhap)They said the existing approach of lobbying based on "Guanxi" won't work as an effective tool to resolve problems in China in the long term. Gua
March 23, 2017
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Work hour reduction needs to be applied differently among industries
South Korean lawmakers need to differentiate between industries while introducing a law to reduce work hours for South Korean workers, a private research institute said Thursday.South Koreans worked an average 2,113 hours annually compared to 1,766 hours on average for all member state of the Organization for Economic Cooperation and Development, a 2015 OECD data shows. A file photo of jobseekers at a job fair in Busan, South Korea, on Dec. 8, 2016. (Yonhap)People in the country put in some of t
March 23, 2017
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Homeplus and Mcnulty present two premium coffee beans
Homeplus and domestic coffee brand Mcnulty have jointly rolled out two types of premium coffee beans, Homeplus said Thursday.The Single Origin Kenya AA has a sweet and sour taste and is a roast of coffee beans from hilly sections of Kenya. It received an AA rating due to its large screen size, a measurement used to classify coffee beans. Homeplus and Mcnulty’s premium coffee beans, the Single Origin Kenya AA and Single Origin Yirgacheffe G2, are presented at the Homeplus Gangseo branch Tuesday.
March 23, 2017
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Philips Korea strengthens ties with partner companies
Health technology company Philips Korea hosted Philips Partner’s Day at its head office in Jung-gu, Seoul, Wednesday to encourage collaborative growth with its partners under the slogan “Let’s Innovate Together.”Phillips Korea CEO Dominique Oh and the company’s Asia-Pacific procurement leader Ramesh Krishnamoorthy were joined by representatives from major partner companies, including Daehan Shield Engineering and AR. Philips Korea CEO Dominique Oh (left), Philips’ Asia-Pacific procurement leader
March 23, 2017
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Korean Air to add flights on major routes
Korean Air Lines Co., South Korea's No. 1 airline, said Thursday it will increase flights on international routes and add fuel-efficient planes on the routes to help buoy its bottom line. In the coming months, Korean Air plans to gradually expand flights on routes to major cities in Europe and the United States to absorb higher outbound travel demand during the peak season that starts in March and ends in October, it said in a statement.Dreamliner B787-9 (Yonhap)To attract customers and cut cost
March 23, 2017
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Korean shipbuilders eyeing reentry into container crane market
A local port authority said Thursday it is considering a move to place orders to South Korean shipbuilders for the construction of several gantry cranes at new container terminals being built here.Busan Port Authority is currently building seven container piers at Busan Newport to be completed by 2021 and three additional berths are being built at the port by private firms. The estimated cost is about 1 trillion won ($893 million) for the building of 10 container cranes.(Yonhap)South Korean ship
March 23, 2017
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Kepco eyes Toshiba-led British nuclear project
Cho Hwan-Eik, CEO of the state-owned Korea Electric Power Corp. (Kepco), said Tuesday the company is considering a stake in a Toshiba-led nuclear plant project in the UK. “Once (NuGen’s) sales plan, such as debt and equity structure, is set, we will jump into the race,” Cho told reporters Tuesday evening. He also said that the company has had informal meetings with Toshiba but nothing has been fixed since negotiations between the Japanese and British governments are still ongoing. KEPCO CEO Cho
March 22, 2017
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Food franchises on alert amid Brazil meat scandal
Food franchises in South Korea are on alert as consumers are refraining from eating chicken on worries over imported Brazilian poultry meat, industry sources said Wednesday. On Monday, the local authorities imposed a temporary halt on the distribution of Brazilian chicken and announced a recall after foreign media reported on a corruption scandal in Brazil involving major food processing firms who bribed government officials to overlook inspections and let them export rotten meat. (Yonhap)But t
March 22, 2017
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Korea vows to expand assistance to small firms
South Korea's top economic policymaker pledged Wednesday to increase financial assistance to promising startups and small companies as part of efforts to boost their competitiveness.Finance Minister Yoo Il-ho said the government will expand assistance in research and development for aspiring entrepreneurs with high growth potential, and small and medium-sized enterprises. Finance Minister Yoo Il-ho speaks in a meeting with more than a dozen leaders of small firms in Seoul on March 22, 2017. (Yon
March 22, 2017
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Incheon Airport signs agreement for Gwangmyeong terminal
Incheon International Airport Corp. has signed an agreement with Korail and Gwangmyeong City to create a city airport terminal at Gwangmyeong Station, according to the company Wednesday.Under the agreement, Incheon Airport will provide investment and management support during the initial operation of the terminal, while Korail will be the operator of the terminal itself. The terminal is set to open in September. Incheon International Airport CEO Chung Il-young (center), Korail CEO Hong Soon-man
March 22, 2017
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[Newsmaker] Duty-free, air carriers seek to offset THAAD fallout
Duty-free operators and air carriers in Korea are seeking out ways to increases sales among tourists from countries other than China, as Beijing’s travel ban is expected to cut deep into revenues this year.Dependency on Chinese consumers has been high in Korea, as indicated by data for February that showed the impact of anticipation of the travel ban.According to the Korea Duty Free Shops Association, sales at duty-free outlets here hit a record high in February to reach $1.14 billion. The growt
March 22, 2017
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Serviceplan Group launches Plan.Net Korea
Germany-based communication agency Serviceplan Group said Wednesday that it has launched a Korean office of its subsidiary group Plan.Net to handle Serviceplan’s digital businesses.Plan.Net, based in Europe, has been ranked as Germany’s top digital creative agency for three consecutive years by the German Digital Industry Association. Hong Jun-hwa, CEO of Plan.Net Korea (Serviceplan Group)Its Korean office will be headed by CEO Hong Jun-hwa, who most recently led the Integrated Campaign Headqua
March 22, 2017
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Chinese tourist numbers drop 22% after group trip ban
The number of Chinese visitors to South Korea has declined sharply this month compared with a year earlier, after Beijing imposed a group tour ban to protest Seoul's deployment of an advanced US anti-missile battery, the government said Wednesday. A total of 280,000 Chinese tourists came into the country between March 1-19, down 21.9 percent from 360,000 tallied over the same period last year, according to the Ministry of Culture, Sports and Tourism.(Yonhap)Early this month, Beijing told its tra
March 22, 2017
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Posco, Exxon Mobil to mass produce manganese steel slurry pipes
South Korean steelmaker Posco and US oil giant Exxon Mobil have agreed to mass produce and supply slurry pipes made of high steel manganese steel, the company said Wednesday.It is the first joint development of the use of high steel manganese steel as a base material for pipelines that are engineered to move mined oil and sand, the company said. Posco Chairman Kwon Oh-joon (left) shakes hands with Tom Schuessler, president of Exxon Mobil Upstream Research Company, after signing an agreement to
March 22, 2017
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Korean panelmakers in rush to jack up OLED panel output
Samsung Display Co., a major flat panel maker, and its local rival LG Display Co. are moving to increase the output of organic light-emitting diode panels to meet growing demand and jack up their profitability, an industry analyst said Wednesday."South Korean companies are making various preparations to switch from LCD to OLED," Park Jin-han, an analyst from the industry tracker IHS, said at a forum in Seoul. Samsung Display Co.'s production line of organic light-emitting diode panels (Yonhap)Sa
March 22, 2017
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Green companies in Korea to participate in WWF’s Earth Hour
With Earth Hour to be held Saturday, various “green” firms in Korea, including Sangha Farm, Coway, and Samsung Electronics, are making eco-friendly gestures.Earth Hour will be held from 8:30 p.m., with participants switching off their lights for an hour to signify efforts against climate change. The event is held simultaneously in some 170 countries. The Korean companies participating this year have not only agreed to join the global event by switching off their lights, but also came up with var
March 22, 2017
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Air purifier market growing fast in Korea
The air purifier market in South Korea is expanding rapidly, largely due to surging demand as consumers are becoming more concerned about fine dust, industry data showed Wednesday. The market size of air purifiers reached 1 trillion won ($888.4 million) at the end of 2016, soaring from 300 billion won in 2013, according to the latest findings. This year, it is forecast to grow by 50 percent on-year to a value of 1.5 trillion won. (Yonhap)Air purifier makers sold a combined 1 million units of th
March 22, 2017