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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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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Special counsel bill to probe first lady scrapped
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Korean bands get their day in the sun, finally
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Prosecutors indict five Lotte family members
South Korean prosecutors concluded its four-month probe into irregularities at Lotte Group on Wednesday, indicting group chairman Shin Dong-bin, four other family members and company executives on charges of embezzlement, tax evasion and corporate malpractice. But the prosecution failed to address other core suspicions surrounding Lotte -- such as the existence of a large-scale slush fund and bribery involved in scoring approval to build the Lotte World Tower in southern Seoul. The prosecution
Oct. 19, 2016
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Korea-EU IPR Conference to run on Thursday
The fourth Korea-EU Conference on intellectual property rights is scheduled to be held Thursday here, according to the European Chamber of Commerce in Korea. During the conference, experts from both the public and private sector will present on pertinent developments in the field of IPR in Korea and Europe. The Korea-EU Intellectual Property Rights conference invitation. (European Chamber of Commerce in Korea)The conference will begin with a keynote speech titled “Patent protection to secure fut
Oct. 19, 2016
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[Photo News] Scandinavian style
From left: Finnish Ambassador to Korea Eero Suominen, Norwegian Ambassador Jan Ole Grevstad, Swedish Ambassador Anne Höglund and Danish Ambassador Thomas Lehmann pose for photo at a Nordic lifestyle fair held at Shinsegae Department Store in Gangnam, Seoul, Wednesday. (Yonhap)
Oct. 19, 2016
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[FEATURE] Galaxy debacle exposes Samsung dilemma
In the eyes of Donald Woo, a retired businessman in Hong Kong, incidents of the Samsung Galaxy Note 7 catching fire and its subsequent departure seemed not just about a technical error, or faulty batteries.Calling himself a loyal customer of the South Korean tech giant, Woo said he began to wonder about the cause of the crisis. What disappointed him the most, he said, was the way Samsung Electronics, the world’s largest smartphone maker, was handling the case.“It is clear that there was a very s
Oct. 19, 2016
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GS chairman stresses ethical business
GS Group Chariman Huh Chang-soo on Wednesday urged the executive board members to embrace “ethical business practices” and to better prepare for new business opportunities. “Taking the anti-graft law enforcement as an opportunity, (we) should overhaul the level of precision management and step up ethical business,” Huh told the executive board members in the quarterly meeting. GS Group Chairman Huh Chang-soo (GS Group)Since late September, the Improper Solicitation and Graft law has banned publi
Oct. 19, 2016
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#LOT Polish Airlines begins service to Incheon
LOT Polish Airlines begins service to IncheonBy Kim Bo-gyungLOT Polish Airlines officially began operating at Incheon International Airport earlier this week, offering the first-ever nonstop flights between Poland and Korea, the airliner said Wednesday.The first flight by a Boeing 787 Dreamliner flew from Warsaw, Poland to Incheon Airport on Tuesday morning. The Polish airlines plans to operate three inbound flights from Poland weekly.“Travelling from South Korea to Europe has never been that ea
Oct. 19, 2016
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Korea to tap 500 tln won water market
South Korea will take various measures to promote the quality of its mineral water products and brands to tap into the rapidly growing global water market currently worth 500 trillion won ($445 billion), the science ministry said Wednesday. The global water market is forecast to grow to as much as $800 billion by 2025, as rapid economic growth, rising population and industrialization in emerging economies are expected to boost demand for clean water.The Ministry of Science, ICT and Future Planni
Oct. 19, 2016
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Prosecutors raid 10 brokerage houses on Hanmi leak
Prosecutors raided around 10 brokerage houses on Wednesday amid allegations that the firms were involved in short-selling Hanmi Pharmaceutical Co. shares based on leaked information.Investigators also raided Hanmi's headquarters on Monday on speculation it leaked confidential data before an official regulation filing, which could have resulted in unfair trading of shares on the stock market.The South Korean drugmaker said last month its license deal on a lung cancer treatment drug with Boehringe
Oct. 19, 2016
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Starbucks introduces Gyeongju-themed cups
Starbucks Korea on Wednesday rolled out a collection of tumblers and mugs that represent the beauty of Gyeongju.The Gyeongju collection features scenery of cherry blossoms with the city’s tourist attractions Anapji Pond and Cheomseongdae.Starbucks Korea’s new Gyeongju-themed tumbler and mugs. (Starbucks Korea)The latest collection is exclusively available at seven stores in Gyeongju, four stores in Incheon Airport and one store in central Seoul, the firm said. Adding to Starbucks’ own donations,
Oct. 19, 2016
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Food firms diversify business amid slump
Major South Korean food and beverage companies are diversifying their business portfolios as they are reeling from a drawn-out slump, industry officials said Wednesday.The country's biggest confectionery Orion Corp. said it has joined with the National Agricultural Cooperative Federation (Nonghyup) to venture into the food market. Under the deal, the two will construct a facility for processed food by the end of 2017.Orion said it aims to advance into the rapidly growing market for premium proce
Oct. 19, 2016
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Shipbuilders' Q3 earnings better than expected
South Korea's major shipbuilders are expected to have posted better-than-expected earnings in the third quarter of the year on the back of their efforts to cut costs through tough restructuring, industry sources said Wednesday.According to Korea Investment & Securities Co., Hyundai Heavy Industries Co., one of the country's top three shipyards, is forecast to have logged an operating income of 264 billion won ($235 million) in the third quarter of the year, on sales of 9.15 trillion won. This ph
Oct. 19, 2016
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Four firms selected for fast-track corporate restructuring
Four South Korean firms including a mid-sized steelmaker have received government approval to carry out voluntary corporate restructuring through fast-track legal and administrative procedures, the trade ministry said Wednesday.The Ministry of Trade, Industry and Energy said a government panel chose four firms -- Histeel Co., Leejin Co., Bokwang Co. and Shinsung Solar Energy Co. -- to endorse their proposed restructuring efforts to boost competitiveness.Just a few weeks ago, the Seoul government
Oct. 19, 2016
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Drugmaker Celltrion top market-cap gainer over decade
The market value of biopharmaceutical firm Celltrion Inc. has risen the most among South Korea's 100 largest listed companies by market cap over the past decade, with manufacturers of domestic-oriented consumer goods making strides, a market tracker said Wednesday.Celltrion's market capitalization stood at 12.6 trillion won ($11.1 billion) as of Oct. 2 this year, over 700 times more than its value of a mere 17.4 billion won on Oct. 4, 2006, according to CEO Score that tracks corporate performanc
Oct. 19, 2016
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AmorePacific shares beauty tips with cancer patients
Korea’s cosmetics giant AmorePacific is hosting a campaign to share skincare, makeup and hairstyling know-how with some 590 female cancer survivors and patients who are struggling to cope with their physical changes, the firm said Tuesday. The AmorePacific Makeup Your Life campaign that began on Oct. 5 will continue until Nov. 23 at 16 hospitals in Seoul and other major cities. A participant receives beauty consultation during AmorePacific’s Makeup Your Life campaign held at Gacheon University G
Oct. 18, 2016
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Korean cosmetics makers eye new opportunities in Middle East
South Korean cosmetics-makers searching for new growth overseas are turning their eyes to the Middle East, a region with a fast-growing cosmetics sector and untapped market potential. Home to a predominantly Muslim population, the Middle East presents hard-to-miss opportunities, according to industry analysts. Muslim spending on cosmetics is expected to grow from $46 billion in 2013 to $73 billion by 2019 to account for over 8.2 percent of global expenditure, according to “The State of the Globa
Oct. 18, 2016
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[Newsmaker] Fears rise of more Hanjin vessel seizures
Concerns are growing over additional seizures of Hanjin Shipping vessels that could lead to costly delays in unloading operations after a local court greenlighted the arrest of a vessel despite the troubled firm’s bankruptcy protection. On Monday, Changwon District Court dismissed the near-bankrupt company’s objection to the court’s decision to allow the detainment and auction sale of vessel Hanjin Xiamen docked in Busan Newport. US company World Fuel Services recently requested the vessel arres
Oct. 18, 2016
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Pfizer to launch Celltrion’s Remicade biosimilar in US in November
US pharmaceutical giant Pfizer said Tuesday that it would begin selling a Remicade biosimilar developed by South Korean biopharma company Celltrion in the US from late November. Pfizer plans to offer Inflectra, a biosimilar drug referencing Johnson & Johnson’s blockbuster autoimmune disease drug Remicade, at a price that is 15 percent lower than the original drug. It is the first Remicade biosimilar to go on sale in the US. Pfizer currently holds exclusive rights to commercialize Celltrion’s Rem
Oct. 18, 2016
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[Photo News] Dream high
An Asiana Airlines crew member shows a student how to play a trumpet at a school in Longjiang county, Qiqihar, Heilongjiang province of China, at a donation ceremony held on Tuesday as a part of the air carrier’s corporate social responsibility program titled “The Beautiful Classroom Project.” Asiana provided musical instruments to the school during the event, which was attended by officials including Ahn Byeong-seog, president of the carrier’s China regional office and Zhao Wen Hua, deputy head
Oct. 18, 2016
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Most employers favorable to return of former employees
More than 60 percent of South Korean companies are favorable to a former employee’s return, a survey showed Tuesday.According to the survey conducted by recruitment portal service Job Korea, 65.9 percent of 276 employers in charge of personnel said that they would be pleased to see a former employee return to work. High adaptability and useful experience elsewhere were cited as the main reasons.In contrast, 34.1 percent said they would not welcome a former staff member back due to a lack of trus
Oct. 18, 2016
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Exports of industrial parts, materials fall in Q1-Q3
South Korea's exports of industrial parts and materials slipped slightly from a year earlier in the first nine months of the year amid weak global demand and low oil prices, the trade ministry said Tuesday.Outbound shipments of industrial parts and materials dropped 6.9 percent on-year to $185.7 billion in the January-September period, accounting for a record 51.1 percent of the country's overall exports, according to the Ministry of Trade, Industry and Energy.Imports also fell 6.5 percent on-ye
Oct. 18, 2016