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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Samsung unveils 'personalized AI' for all devices
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Market uncertain on Korea's October rate cut despite slowed inflation
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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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Coldplay to celebrate release ‘Moon Music’ with Han River drone show
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Google releases latest translation, image services in Korea
Google Korea on Tuesday unveiled its latest services -- Google Translate and Google PhotoScan -- using highly advanced operations in artificial intelligence. “The main breakthrough (of the Neural Machine Translation) is that translations are made in one sentence, rather than bits, so it’s more accurate and natural,” Barak Turovsky, a group product manager for Google Translate, told reporters through a video call from California. As for the aim of Google Translate, Turovsky said Google hopes to
Nov. 29, 2016
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Samsung puts transition process on fast-track
In a widely anticipated move, Samsung Electronics said Tuesday that it would review creating a holding company, increase cash returns to shareholders and have at least one outside director as part of efforts to enhance shareholders’ value. The announcement comes nearly two months after a proposal by US activist hedge fund Elliott Management to reshape its corporate structure. On Oct. 6, Elliott, through its affiliates -- Blake Capital and Potter Capital -- sent a letter to Samsung Electronics’ b
Nov. 29, 2016
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Korea Forestry Service awards examplary exporters
The Korea Forestry Service and the Korea Forestry Promotion Institute held its flagship awarding ceremonies recently for companies that have excelled in exporting forest-related products and paving way for the industry’s wider overseas advances, officials said Tuesday.The 2016 Forestry Products Pioneering Contest was held for the first time in August in a bid to foster overseas market entries of fresh, quality forestry goods. First Prize -- Kyungsan Hanbang Daechu by Kyungsane Farming Associati
Nov. 29, 2016
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Korea Industrial Complex Corp. backs auto exporters in Vietnam
Korea Industrial Complex Corp. aims to increase its support for auto parts exporters looking to increase sales to Vietnam, the state-run corporation said Tuesday. KICOX is a government agency set up in 1997 to support companies in industrial complexes here. Since 2010, the corporation has carried out diverse programs to support auto parts companies in Changwon, South Gyeongsang Province. It has built a network with Vietnamese regional governments, the automobile manufacturers’ association and au
Nov. 29, 2016
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S-Oil offers research funding for promising scientists
Korea’s oil refiner S-Oil has provided research grants totaling 275 million won ($235,000) for promising scientists as part of its annual programs to support basic science, the company said Tuesday. S-Oil CEO Othman Al-Ghamdi (left) awards prizes to the recipients at the 6th Dissertation of the Year Awards held in Seoul, Tuesday. (S-Oil)S-Oil Science Prodigy and Culture Foundation, a non-profit organization established by the refiner, offered the scholarships to 10 young scientists in its 6th D
Nov. 29, 2016
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Korea ready to back US infrastructure plan
South Korea’s trade minister vowed Tuesday in a meeting with US business representatives to provide policy support to boost Korea-US bilateral cooperation in line with the new US administration’s future drive in infrastructure and manufacturing.Joo Hyung-hwan, minister of trade, industry and energy, said he is seeing new opportunities in US President-elect Donald Trump’s campaign pledge to spend $1 trillion in infrastructure projects in the next five years to prop up the US economy.Joo Hyung-hwa
Nov. 29, 2016
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Korea's imports of Iranian crude more than double in Q3
South Korea's imports of Iranian crude oil soared in the third quarter of this year from a year earlier following the lifting of international sanctions against the Middle East country, government data showed Tuesday.A total of 29.8 million barrels of crude oil was imported from Iran during the July-September period, soaring 147.7 percent from 12 million barrels tallied over the same period last year, according to the data compiled by the Ministry of Trade, Industry and Energy.Iran had been one
Nov. 29, 2016
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Samsung Electronics reviews holding company structure
Samsung Electronics Co. said Tuesday it has been reviewing the "possibility" of creating a holding company structure to improve the company's corporate structure and enhance its transparency. In a statement, Samsung said it will also increase total dividends in 2016 by 30 percent on year, bringing the annual dividend amount to 4 trillion won ($3.4 billion)."Samsung Electronics has taken steps to simplify its business to concentrate on core capabilities in the past several years and the company c
Nov. 29, 2016
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Samsung to unveil plan on Elliott’s proposal
Samsung Electronics is set to unveil its position Tuesday on a proposal to split the company into two, a suggestion made by activist hedge fund Elliott Management.In early October, Elliott called on Samsung Electronics to separate into a holding company for ownership purposes and an operating company. It also suggested dual-listing the operating company on the US exchange Nasdaq and paying shareholders a special dividend of $27 billion. In response to the proposals, Samsung had said it would sha
Nov. 28, 2016
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S-Oil to donate W200m of heating oil to underprivileged
Korean oil refiner S-Oil said Monday it would hand out heating oil worth 200 million won ($171 million) as part of its regular community service efforts to support people in need. (S-Oil)Under the “Hope to You” campaign, S-Oil CEO Othman Al-Ghamdi donated 200 million won to the Korea National Council on Social Welfare. The fund will be used to provide fuel vouchers for low-income families and senior citizens living alone, with each household getting vouchers worth 1 million won. “I was quite he
Nov. 28, 2016
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No industries to enjoy boom next year: report
No Korean industries are likely to prosper next year, despite some business improvements in several sectors, such as the information and communication technology, automotive and steelmaking industries, a report by a research institute showed Monday. According to the Hyundai Research Institute’s report on the future of seven Korean industries, the ICT industry will continue to gradually recover next year, particularly in the production and export of semiconductors. However, the tougher competitio
Nov. 28, 2016
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Korean instant noodle exports to reach $300m
Exports of Korean instant noodles are poised to hit $300 million this year, with strong growth in unique premium products.According to the Korea Customs Service on Monday, exports of Korean ramen so far in 2016 have totaled $232.7 million, up from yearly totals of $218.8 million in 2015 and $208.5 million in 2014. This was the first year that exports had broken $200 million by the end of the third quarter.Leading ramen producer Nongshim is riding on the surge in exports. It announced Monday that
Nov. 28, 2016
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Look to Japan for health care lessons: Kotra
With its aging population, South Korea should look to Japan for lessons and opportunities that can be applied to its health care industry, a government trade promotion agency said in a report Monday. The Korea Trade-Investment Promotion Agency said in its global strategy report titled, “The Fourth Industrial Revolution Era: Japan’s Medical and Health Care Industry,” that Japan is making an all-out push to strengthen the global competitiveness of its health care i
Nov. 28, 2016
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Samsung CSR Awards recognize employees for volunteer works
From a special class for the visually impaired to teach how to use a smartphone to papering the walls for low-income households, some 35 employees of Samsung affiliates who shared their talents with people in need received the annual Samsung Corporate Social Responsibility award on Thursday. Recipients of 2016 Samsung CSR award pose for photo at a ceremony held at Samsung Electronics headquarters in Seocho, Seoul, Thursday. (Samsung Group) The Samsung CSR Award was established in 1995 to honor t
Nov. 28, 2016
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KITA chief urges end to cozy corporate-state ties
Kim In-ho, chairman and CEO of Korea International Trade Association, on Monday urged the government to end its cozy ties to businesses, amid intensifying allegations that President Park Geun-hye lobbied chaebol leaders.Asked of his view on the scandal involving Park and her long-time friend Choi Soon-sil, Kim said he believes that the time is ripe to end such practices and take this as an opportunity to shift into a completely free market economy. “The current government is not the only one. Al
Nov. 28, 2016
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[Monitor] Income of 40-somethings drops for the first time on record
South Korea’s economic doldrums have caused a decline in average household income for people in their 40s in the third quarter this year, data by Statistics Korea showed. It is the age group’s first decline in income since Statistics Korea’s income survey began in 2003. The data showed that householders aged 40 to 49 -- Korea’s most economically active age group -- earned an average of 5.05 million won ($4,254.41) during the period, a drop of 1,569 won ($1.30) from a year ago.
Nov. 28, 2016
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Discount gas stations have little impact on overall gas prices
Discount gas stations have had little to no impact on overall gas prices since they were introduced about five years ago, a report showed Monday.The country's state-run Korea National Oil Corp. (KNOC) introduced the discount gas stations in late 2011 to sell car fuel at cheaper prices as part of efforts to curb inflation and to promote competition. Signboard of a discount gas station (Yonhap file photo)Discount gas stations sell gasoline at prices around 2 percent lower than typical gas stations
Nov. 28, 2016
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Korea's int'l air passenger traffic jumps 12.4% in Oct.
South Korea's international passenger traffic spiked 12.4 percent from a year earlier in October amid a steady rise in passengers to and from China, the transportation ministry said Monday.Air passengers to and from the country came to 6,301,828 in October, compared with 5,605,199 in the same month last year, according to the Ministry of Land, Infrastructure and Transport.The country's overall air passenger traffic surged 9.7 percent to some 9.15 million as domestic air passengers gained 4 perce
Nov. 28, 2016
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‘Korean youths less inclined to start new businesses’: report
South Korean youths in their 20s and early 30s are less inclined to start their own businesses and become entrepreneurs compared to their counterparts elsewhere, a global report by Amway said Sunday.According to the 2016 Amway Global Entrepreneurship Report covering 45 countries and more than 50,000 men and women, Korean youths, aged 35 and below, scored 49 points in terms of “entrepreneurial spirit.” (123RF)Amway’s entrepreneurial spirit index measures a person’s intention to start a business a
Nov. 27, 2016
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Apple faces complaints for slow customer service in Korea
Apple once again faces mounting complaints from Korean customers, this time for a lack of stock to replace faulty iPhone 6s batteries.Apple has been offering new batteries for free of charge to users with a problematic iPhone 6s devices, which shut down at random points, since Nov. 21, local reports said Sunday. A growing number of customers, however, are reporting cases of inconvenience over the shortage of batteries at Apple authorized service providers and wireless carriers.“My phone turns of
Nov. 27, 2016