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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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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Market uncertain on Korea's October rate cut despite slowed inflation
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Samsung unveils 'personalized AI' for all devices
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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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Special counsel bill to probe first lady scrapped
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Merchandizers offer free services upon impeachment
Small merchandizers across South Korea rolled out marketing events Friday, immediately after the historic ruling on former President Park Geun-hye’s impeachment.A chicken franchise based in Gwangju, North Jeolla Province, called “Kimbusung Chicken,” posted a message offering 2,000 cubic centimeters of draft beer for free for each table via its Instagram account at around 2 p.m.Chicken franchise Kimbusung Chicken's Instagram page offering free beer for each table. (Instagram)The post included the
March 10, 2017
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Oil goods beat semiconductors as largest exports item in Feb.
Petroleum and petrochemical products emerged as the biggest export item for South Korea last month as Chinese and Japanese refiners are reducing exports due to growing domestic consumption, government data showed Friday. Exports of petroleum reached $2.92 billion and petrochemical goods $3.81 billion in February, according to the data. The combined figure of $6.7 billion is well over $6.4 billion worth of semiconductors shipped out during the same period.(Yonhap)The rise in oil and petrochemical
March 10, 2017
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Biz groups urge efforts to move forward following impeachment
South Korea's major business groups urged the nation and its people to quickly turn their attention to what they called urgent and important issues facing the economy, saying that the issue that has caused an enormous drain on national strength has finally come to an end.Such calls came shortly after the Constitutional Court upheld the National Assembly's decision to impeach former President Park Geun-hye, immediately removing her from office.This image shows President Park Geun-hye (right) and
March 10, 2017
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Kumho Asiana chief re-elected head of Korea-China association
Park Sam-koo, chairman of major South Korean conglomerate Kumho Asiana Group, has been re-elected the head of a friendship association between South Korea and China, the Kumho Asiana Group said Friday.It will be Park's third term to lead the Korea-China Friendship Association, the company said in a press release.Park Sam-koo, chairman of South Korean conglomerate Kumho Asiana Group, offers an acceptance speech after being elected to his third term as chief of the Korea-China Friendship Associati
March 10, 2017
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Domestic tourists fill gap created by falling Chinese visitors
The southern resort island of Jeju witnessed a sharp rise in the number of domestic tourists recently, industry sources said Friday, amid a drop in Chinese tourists triggered by a row between Seoul and Beijing over the deployment of an advanced US missile defense system.The Chinese government has banned imports of Korean pop culture content and the sale of tour packages to South Korea as part of retaliations against the installation of the Terminal High Altitude Area Defense system on South Kore
March 10, 2017
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EU court upholds penalty on Samsung SDI over price fixing
The Court of Justice of the European Union on Thursday upheld a 1.8 trillion won ($1.55 billion) fine slapped on Samsung SDI Co. over allegations of rigging prices for parts used in computer and TV screens.In December 2012, the European Commission imposed the penalty on Samsung SDI, the battery-making arm of South Korea's top conglomerate, and its Malaysian and German affiliates for allegedly fixing prices and allocating customers between themselves from 1996 to 2006 in the television and comput
March 9, 2017
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KOGAS sues construction firms over price fixing
The state-run Korea Gas Corp. has filed a compensation suit against 13 construction companies over allegations they fixed prices for building its storage tanks, the companies said Thursday.The world's largest LNG importer filed the some 200 billion won($172 million) suit with the Daegu District Court on Feb. 16, according to the announcement made by Hyundai Engineering & Construction Co., Daewoo Engineering & Construction Co. and Daelim Industrial Co. The logo of KOGAS (KOGAS)In April last year
March 9, 2017
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Samsung heir’s fate hangs in balance as trial begins
The trial of de facto Samsung leader Lee Jae-yong began on Thursday to determine whether he offered bribes to President Park Geun-hye and her friend to expand his control over the tech conglomerate.The 49-year-old heir didn’t appear as the court was holding a pretrial conference. Unlike a formal trial, an accused is not obligated to attend the court in preparation. But a group of 11 elite lawyers representing Lee waged a battle against special investigators who indicted the vice chairman of Sams
March 9, 2017
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Cyberattacks open new front in Korea, China THAAD spat
Korea and China are on the verge of a cyberwar as Chinese hackers that crashed the website of Lotte Duty Free are reportedly seeking to expand their attacks to more Korean public and private websites. Around 30 Korean public and company websites have so far been hacked by Chinese hackers, according to local news reports. These included relevant sites for the PyeongChang 2018 Olympics and the 2017 WTF World Taekwondo Championships webpage, alongside homepages of private firms such as English-lang
March 9, 2017
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Acting president calls for undeterred reforms of public firms
Acting President and Prime Minister Hwang Kyo-ahn on Thursday called on public corporations to keep pursuing flexibility, creativity and innovation to stay ahead in the global industrial competition.During a meeting with the heads of public firms, Hwang also instructed them to remain unperturbed by the national leadership crisis and continue to carry out their reform measures such as a merit-based salary system. Acting President and Prime Minister Hwang Kyo-ahn speaks during a meeting with the h
March 9, 2017
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Hanmi strengthens internal compliance following info leak scandal
South Korea’s Hanmi Pharmaceutical on Thursday laid out a new set of internal compliance regulations aimed at preventing its employees from misusing undisclosed company-related information to reap illegal profits.The move comes three months after four Hanmi employees were indicted with detention for spreading undisclosed information regarding a broken licensing deal between Hanmi and Boehringer Ingelheim and reaping unlawful gains. (Hanmi Pharmaceutical)Seoul prosecutors had found that 45 offend
March 9, 2017
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Bolivian suburb names central road after Korea
A road in the center of a new suburb near Santa Cruz, Bolivia, has been named “Avenida Corea” (Korea Avenue) to recognize Korea‘s help in building the city, according to the Transport Ministry Thursday.The new city, modeled after Korea’s suburban apartment communities, will be about 56 square kilometers, or three times the size of Seoul’s major suburb Bundang. According to the Transport Ministry, Korea provided consulting on the project to create an eco-friendly suburb with applications of smart
March 9, 2017
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& Other Stories lands in Korea as fashion world enters spring
H&M Group’s fashion brand & Other Stories has come to Korea, with the first store to open in Seoul on Friday. On Wednesday, the brand revealed its first store in the Apgujeong shopping district in Seoul. The 660square-meter store is made up of three floors and will feature the brand’s global launch of its Gift Shop stationery and lifestyle products collection. & Other Stories' Apgujeong store (& Other Stories)
March 9, 2017
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Lotte businesses continue shutting down in China
Lotte Group continues to be the target of government inspections in China, as tensions rise between the country and Korea over the deployment of a US anti-missile system here.On Wednesday, Lotte Shanghai Food Corp.’s chocolate factory was directed to shut down for one month after a building safety inspection Monday. (Yonhap)The corporation is a 50-50 joint venture between Lotte Confectionery and US-based candy maker Hershey’s. “In cooperation with the government, as of March 8, the LSFC factory
March 9, 2017
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Samsung remains world's No.1 smartphone seller in 2016
Samsung Electronics Co. was the biggest seller of smartphones in 2016, followed by Apple Inc. and China's Huawei, industry data showed Thursday.Samsung sold 308.5 million units of Galaxy series smartphones last year, according to the statistics by industry tracker Strategy Analytics. Samsung remains world's no.1 smartphone seller of 2016. (Yonhap)The comparable figure for Apple Inc.'s iPhone smartphones was 215.5 million and those for Huawei's Honor and Ascend series 72.2 million and 65.7 millio
March 9, 2017
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Jeju-bound Chinese flights drop amid THAAD spat
Chinese airlines are cutting back flights bound for South Korea's popular resort island of Jeju, as Beijing banned the selling of tour packages to the country in retaliation over the deployment of a US missile defense system, industry sources said Thursday. Chinese and South Korean carriers are planning to operate 22 routes between China and Jeju Island, off the southern tip of the Korean peninsula, with a total of 1,254 flights from March 1 to 28, according to the Jeju unit of the Korea Airport
March 9, 2017
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Ex-Daewoo shipyard chief accused of accounting fraud
A former CEO of cash-strapped Daewoo Shipbuilding & Marine Engineering Co. who is already standing trial has additionally been charged with cooking the shipyard's books for years 2008 and 2009, prosecutors said Thursday.Nam Sang-tae, who led the company from 2006 to 2012, is accused of inflating the shipbuilder's management performance in order to extend his term, according to the prosecutors.This file photo taken on June 27, 2016, shows Nam Sang-tae, who headed Daewoo Shipbuilding & Marine Engi
March 9, 2017
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Samsung Electronics considers building new plant in US
Samsung Electronics Co. has been considering building a new plant in the United States in line with its "mid to long-term base strategy," a senior executive said Thursday. Seo Byung-sam, vice president of Samsung's home appliance unit, made the remarks at a meeting with reporters in Seoul, after the Wall Street Journal reported that the company is in preliminary talks to build a new US facility for home appliances.Samsung's logo (Yonhap)"We are considering building a plant in the United States i
March 9, 2017
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Korean firms need to take more risks in Russia
South Korean companies may need to take more risks in Russia, especially amid signs of economic recovery there, a report said Thursday.The report from the Korea International Trade Association noted the country's overall exports to Russia have dipped at a much greater rate than those of other countries, including the United States, that have been imposing economic sanctions against Moscow following its military intervention in Ukraine in early 2014. Russian currency, ruble (123RF)In 2015, South
March 9, 2017
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US decides anti-dumping duty on Korean power transformer
The US government has decided to slap a higher than preliminarily set anti-dumping rate on large power transformers exported by a South Korean firm, the latest in a series of trade restrictions imposed on locally made goods under the Trump administration.Hyundai Heavy Industries Co., a major shipyard here, said Thursday that the US Department of Commerce made a filing to impose a 61 percent anti-dumping duty on large power transformers produced by the shipbuilder.(Yonhap)In September last year,
March 9, 2017