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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Special counsel bill to probe first lady scrapped
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[Robert Fouser] Why the US election looks so close
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Acting president pledges to nurture 100 global venture firms by 2020
Acting President and Prime Minister Hwang Kyo-ahn on Friday pledged to nurture 100 global venture firms by 2020 as part of the government's efforts to promote startups, create jobs and revitalize the economy.To achieve this goal, the government plans to provide "strategic, tailored" assistance, including legal counseling, to help venture firms prepare for their entry into foreign markets or expand their presence abroad. Acting President and Prime Minister Hwang Kyo-ahn speaks during a meeting of
Feb. 17, 2017
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Lee’s arrest puts Samsung’s Harman deal in question
Uncertainties spiked Friday over Samsung Electronics’ plan to take over Harman International, as its chief was arrested one day ahead of the US firm’s shareholders meeting.According to the financial industry, the physical detention of Samsung Electronics Vice Chairman Lee Jae-yong may affect a meeting of shareholders of Harman International, scheduled to be held in Stamford, Connecticut at 9 a.m. on Friday, local time. “Previously, it was highly expected that the shareholders meeting wouldn’t im
Feb. 17, 2017
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Haebora to enter AI voice recognition market
Tech startup Haebora, which has developed an earbud that allows users to “talk through their ears,” recently announced its intention to enter the AI voice recognition market.On Friday, Haebora announced that it was developing an AI-based voice service device that can be integrated into speakers or smartphones to carry out voice commands or offer real-time interpretation. This service will be an expansion of the technology behind the company’s revolutionary “RippleBuds” earbuds, which are equippe
Feb. 17, 2017
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Deloitte Anjin case puts accounting firms on edge
Accounting firms in South Korea remain jittery as financial authorities are set to discipline Deloitte Anjin LLC soon for its failure to detect massive accounting fraud in a troubled shipyard, sources said Friday.Starting in late 2015, the Financial Supervisory Service conducted a near one-year investigation into Deloitte Anjin over its failure to uncover that Daewoo Shipbuilding & Marine Engineering Co. had cooked the books to make its snowballing losses in 2013 and 2014 look smaller. This und
Feb. 17, 2017
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Korea hikes foreign egg imports to cope with supply shortages
Imports of foreign eggs and their processed products to South Korea have surged this year, government data showed Friday, as the country is dealing with the worst supply shortage caused by the spread of avian influenza. The inbound shipments of fresh eggs and processed products reached a total of 1,331 tons from Jan. 1 to Feb. 15, according to data by the Ministry of Food and Drug Safety, and Ministry of Agriculture Food and Rural Affairs. Piles of boxes containing eggs imported from the United
Feb. 17, 2017
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FKI board meets over new chief, upcoming assembly
The board of the Federation of Korean Industries was set to meet Friday for discussions on ways to reform the organization now facing a series of departures by its key members that are threatening its very foundation.FKI officials said the board was expected to set the agenda for the general assembly scheduled to be held next Friday, noting they were expected to include the appointment of a new FKI chief. (Yonhap)The organization has been searching for a new leader to replace outgoing chairman H
Feb. 17, 2017
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Samsung BioLogics denies accounting fraud accusations
Samsung BioLogics, a contract manufacturer of biologic drugs under Samsung Group, has denied accusations that it engaged in fraudulent accounting practices to boost its market valuation in seeking a public listing on South Korea’s main bourse Kospi last year. The move came after Rep. Sim Sang-jeung, chairwoman of the minor opposition Justice Party and local civic group People’s Solidarity for Participatory Democracy questioned accounting methods that led to a sudden rise in Samsung BioLogics’
Feb. 16, 2017
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Samsung BioLogics wins best CMO Asia award
Samsung BioLogics has received the Best Asia CMO award from the Asia-Pacific Bioprocessing Excellence Awards 2017 held in Singapore, the company said Thursday.The award ceremony was held on the sidelines of the fourth Biologics Manufacturing 2017 conference. Samsung BioLogics was recognized for its achievement in leading the industry’s innovation with quality and speed competiveness, the company said.(The Investor)“By utilizing the latest world-class facilities to maximize production efficiency
Feb. 16, 2017
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[Photo News] Starbucks' digital receipts surpass 500,000 users
STARBUCKS‘ DIGITAL RECEIPTS -- Starbucks Korea said Thursday that more than 500,000 people have signed up for its digital receipt program, which aims to reduce paper waste. In the past two months, Starbucks has issued 15 million digital receipts, saving 17,000 rolls of paper. (Starbucks Korea)
Feb. 16, 2017
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11st launches in Thailand
Online open market 11st has launched in Thailand, its operator SK Planet said Thursday.Thailand is 11st’s fourth overseas expansion following launches in Turkey in 2013, Indonesia in 2014, and Malaysia in 2015. The launch in Thailand will begin with over 3 million products across eight categories including fashion, electronics, and leisure. There will also be deals offered for a limited time with products curated by 11st. “We saw that Thailand’s e-commerce sector has huge growth potential consid
Feb. 16, 2017
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LIG Nex1 to head to IDEX 2017
South Korea’s leading defense company LIG Nex1 said Thursday that it will be participating in the International Defence Exhibition and Conference 2017.In its seventh appearance at IDEX, LIG Nex1 will be displaying state-of-the-art products including the medium-range anti-air missile KM-SAM, Korean GPS Guided Bomb Kit, portable surface-to-air missile Chiron, Artillery Locating Radar and Software Defined Radio. In addition, LIG Nex1 will be introducing a powered exoskeleton robot that boosts the u
Feb. 16, 2017
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Doosan Heavy 2016 loss narrows on cost-cutting efforts
Doosan Heavy Industries Co., South Korea's top power equipment maker, said Thursday its loss narrowed sharply last year from the previous year largely thanks to tough restructuring moves aimed at reducing costs.Net loss reached 216 billion won ($189 million) on a consolidated basis last year, compared with a loss of 1.75 trillion won a year earlier, the company said in a regulatory filing. (Yonhap)The company also logged an operating income of 791 billion won last year, shifting from an operatin
Feb. 16, 2017
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Korean airlines to freeze fuel surcharge on tickets next month
South Korean airlines will freeze fuel surcharges on international passenger flights next month as prices of jet kerosene remain steady, industry sources said Thursday. Depending on the itinerary, fuel surcharges on international tickets purchased in South Korea ranged from 1,200 won ($1.05) to 9,600 won. (Yonhap)The average price of jet fuel came to $65.42 per barrel in Singapore, or about $1.55 per gallon.Local airlines are allowed to impose a fuel surcharge when the average price exceeds $1.
Feb. 16, 2017
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Daewoo Shipbuilding wins LNG ship-related patent case in China
Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, said Thursday that it has won its patent case in China which is related to its core technology for LNG-fueled ship.Daewoo Shipbuilding said that a filing by a Chinese shipbuilding and offshore equipment firm with the Chinese patent office, the SIPO, to nullify the South Korean shipyard's patent for LNG fuel supply technology was dismissed. (Yonhap)Daewoo Shipbuilding registered a patent for the "HiVAR-FGSS" technology in China
Feb. 16, 2017
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Korean dermatologist pens book on botulinum toxin treatment for Asians
[THE INVESTOR] With the standards of beauty varying greatly from one culture to another, so do the cosmetic procedures that need to be performed on patients from different ethnicities. Starting from this idea, Kyle K. Seo, a South Korean dermatologist, has published the English version of the book “Botulinum Toxin for Asians” in a bid to share his experience and knowledge on the injectable aesthetic treatments more suitable for facial features in Asian and their pursuit for beauty.Kyle K. Seo of
Feb. 16, 2017
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Chinese smartphone makers seek high-end market
Chinese smartphone makers have been rolling out pricey models to play catch up with Apple Inc. and Samsung Electronics Co., which dominate the high-end smartphone market in the country, a Seoul trade body said Thursday.According to the Shanghai office of the Korea Trade-Investment Promotion Agency, Chinese smartphone maker Jinli unveiled a new model late last year wrapped in alligator leather that fetches roughly $2,480. The same model in cow skin carries a price tag of some $1,020. Chinese smar
Feb. 16, 2017
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Govt. to check odd beef prices amid industry doldrums
The South Korean government is set to look into a widening price gap between the wholesale and retail prices of local beef, officials said Thursday, as it is feared to further hurt the industry and consumer spending already daunted by the new anti-graft law.The producer price of Korean beef, known as hanwoo, stood at 45,252 won ($39.80) per kilogram as of Tuesday, down 26.7 percent from four months earlier, according to the government's livestock data. An employee is stacking packs of Australia
Feb. 16, 2017
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Samsung’s Lee Jae-yong attends warrant hearing
Samsung Group’s de facto leader Lee Jae-yong is attending a court hearing for his possible arrest on charges of bribing President Park Geun-hye. Lee, vice chairman of Samsung Electronics, appeared at the Seoul Central District Court at around 10 a.m. Thursday to attend the hearing on his arrest warrant. A decision is expected to come near or past midnight. It is the second time that the executive faces possible arrest in connection to the country’s largest corruption scandal that led to Presiden
Feb. 16, 2017
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[News Analysis] FTC may lose exclusive right to charge businesses
South Korea’s anti-trust watchdog is under mounting pressure to scrap its long-held exclusive right to charge businesses for fair trade violations which opposition lawmakers say have been impotent to monitor chaebol’s unlawful practices against smaller firms.The current law prevents prosecutors from indicting companies for competition law violations unless the Fair Trade Commission files an accusation. Rep. Choi Woon-yeol of the Democratic Party of Korea and Rep. Chae Yi-bae of the People’s Part
Feb. 15, 2017
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[Photo News] Shinsegae Dept. Store launches jewelry brand
Shinsegae Department Store said Wednesday it has created a new jewelry brand called Addir that focuses on diamonds. Its products will be designed, sourced, manufactured and sold through Shinsegae Department Store. Addir opens at the department store’s Daegu branch Thursday and its Gangnam branch Friday. Addir at Shinsegae Daegu is shown in the picture. (Shinsegae Department Store)
Feb. 15, 2017