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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LOT Polish Airlines opens direct flight to Korea
Poland's flag carrier LOT Polish Airlines has launched a direct flight between the Eastern European nation and South Korea, hoping to increase travel and investment between the two nations, the airline said Tuesday.Starting Monday, LOT operates three flights a week between Warsaw Chopin Airport and Incheon International Airport using a 252-seat Boeing 787 Dreamliner.It is LOT's third non-stop flight to Asia, following China in 2008 and Japan in January, it said. In light of the direct flight, th
Oct. 18, 2016
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Decline in LPG vehicles puts LPG producers on alert
The number of liquefied petroleum gas powered vehicles in South Korea has been on a steady decline over the past years, government data showed Tuesday, indicating a possible drop in sales of local LPG producers.According to the data from the Ministry of Land, Infrastructure and Transport, the number of LPG-fueled vehicles registered here came to 2,219,370 as of end-August, down 56,291 from end-2015.The number has steadily declined since 2014 with the rate of decline quickening from an average 4,
Oct. 18, 2016
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Hyundai Merchant mulls bid for Hanjin Shipping's lucrative route
Hyundai Merchant Marine Co., South Korea's No. 2 shipper, is considering bidding for its bigger local rival Hanjin Shipping Co.'s Asia-US route, industry sources said Tuesday.According to the sources, Hyundai Merchant, currently under a creditor-led debt restructuring scheme, is planning to submit a preliminary bid for Hanjin Shipping's route, seen as the most lucrative, and ships that are up for sales.Last week, part of cash-strapped Hanjin Shipping Co.'s assets went up for sale as the company
Oct. 18, 2016
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Samsung to ship goods, parts to Eastern Europe via Russian railroad
Samsung Electronics Co. said Tuesday it has signed a preliminary agreement with Russia's railway authority to ship its goods and parts to Eastern Europe via the Trans-Siberian Railway. The deal will allow Samsung to reduce the lead time from 35 days of marine transportation to 18 days, the company said in a statement. "Shortened lead times will bring Samsung more benefits, including stable inventory control, and immediate and efficient adjustments when product models change," the statement said.
Oct. 18, 2016
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Court's announcement to sell troubled STX shipyard possibly comes this week
A South Korean court may announce a sale plan for the embattled STX Offshore & Shipbuilding Co. without waiting for the company's rehabilitation plan, an industry source said on Monday.The South Korean bankruptcy court handling the company's insolvency proceedings is expected to issue the notice this week for what is called a "package sale" in which the troubled shipyard is to be sold together with its French unit, according to the source. It is said that the notice was originally planned for to
Oct. 17, 2016
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Hanmi Pharmaceutical raided over alleged info leak
South Korean prosecutors raided the Hanmi Pharmaceutical headquarters in southern Seoul on Monday as part of a probe into suspicions the local drugmaker leaked information on a major deal termination to select investors in insider trading.The Seoul Southern District Prosecutor’s Office said it has seized documents, hard disks and other potential evidence containing information on Hanmi’s disclosures and licensing deals.Hanmi Pharmaceutical headquarters in southern Seoul (Hanmi Pharmaceutical)Han
Oct. 17, 2016
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[Photo News] Knocking on new job market
Participants attend the Job Fair For Foreign-Invested Companies 2016 on Monday at Coex, southern Seoul. Hosted by the Ministry of Trade, Industry and Energy and Kotra, the two-day fair involves 92 foreign firms seeking young Korean talents. (Yonhap)
Oct. 17, 2016
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Search, chatbot services to change e-commerce
SK Planet, the operator of South Korea’s leading online open market, highlighted search, recommendation and chatbot services as the core technologies to foster e-commerce during a seminar on Monday.During its 5th annual IT conference Tech Planet 2016, the operator of 11 Street, shared its outlook on changes in e-commerce led by advanced IT technology.Lee Sang-ho, chief technology officer of SK Planet, speaks at Tech Planet 2016 held at the Convention and Exhibition Center, southern Seoul, Monday
Oct. 17, 2016
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BMW Korea seeks greener future
BMW Korea Future Foundation hosted the “NEXT GREEN-TALK CONCERT” over the weekend, attracting 1,400 attendees interested in the environment and a sustainable future, foundation officials said Monday.Under the slogan “For Earth, For Us,” the event engaged 11 speakers with varying backgrounds from a best-selling author and renowned mountaineer to a cat-loving cartoonist and entertainers. The speakers shared their perspectives on greener future with the vast audience. BMW Korea Chief Financial Offi
Oct. 17, 2016
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Duty-free stores embrace younger Chinese customers
Chinese travelers in their 20s and 30s have emerged as the key customers for South Korean duty-free stores as they are enticed by Korean pop culture and shopping experiences here, industry officials said Monday. Local duty-free shops in the past mostly generated revenue from middle-aged Chinese travelers who bought foreign luxury bags and watches, but now they are embracing younger Chinese who prefer Korean cosmetics and fashion brands on the back of a rising influx of young independent traveler
Oct. 17, 2016
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[Graphic News] Korea's Exports to Vietnam up sharply
Korea’s exports to Vietnam rose 200 percent between 2010 and 2015, according to the Korea International Trade Association.The amount of exports to Vietnam tripled from $9.7 billion (10.9 trillion won) in 2010 to $27.8 billion last year, KITA data showed.During the cited period, exports to the US also steadily rose on increased demand.Meanwhile, exports to China are on the decline, totaling $69.4 million between January and August, after posting 137.1 billion won in 2015. China’s share of Korea’s
Oct. 16, 2016
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Half of major Korean firms cut workforce in H1
Among the 109 listed firms that earned more than 1 trillion won ($880,000) in the first half of this year, 54 companies have downsized their workforces, a local corporate research firm said Sunday.A total of 5,284 workers were let go from 54 firms between January and June this year, compared to a year ago, according to data by Chaebul.com. (123rf)Korea’s biggest conglomerate Samsung Group shed the highest number of employees.Battery provider Samsung SDI, for instance, last year announced that it
Oct. 16, 2016
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[FEATURE] Cashing in on the Jeju name
Samdasoo, a mineral water brand that hails from Jejudo, has been the undisputed No. 1 in Korea’s bottled water market for almost 20 years. It rides on the reputation of South Korea’s biggest island, which over the years has transformed into a resort area attracting more than 16 million tourists each year. Its pristine environment and scenic views has also turned it into a destination where throngs of tired urbanites relocate in search of peace. As Jejudo’s popularity grew,
Oct. 16, 2016
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[Photo News] All going downhill?
Kazuhiro Yoshizawa, CEO of NTT Docomo, tries out ski-jumping on KT’s 5G virtual reality simulator at Westin Chosun Hotel in Haeundae, Busan on Sunday after signing a partnership between the two companies on the 5G network business at the sixth Strategic Cooperation Framework Agreement on Friday. (Yonhap)
Oct. 16, 2016
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Korea officially joins IPMA
The International Project Management Association officially admitted Korea as its 65th member at the IPMA conference held in Sydney, Australia, on Sunday, the association said. “IPMA Korea will work to put together project management models tailored to boost the global competitiveness of Korean businesses,” said Cho Won-dong, president of IPMA Korea. IPMA Korea President Cho Won-dong (left) and IPMA President Reinhard Wagner (second from left) pose at the IPMA conference in Sydney, Sunday. (IPMA
Oct. 16, 2016
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Butter, cheese sales soar on popularity of high-fat, low-carb diet
A steep rise in sales of high fat dairy products including butter and cheese seems to be related to the growing popularity of a high-fat and low-carbohydrate diet, industry officials said Sunday, quoting recent data.Sales of high-fat products such as butter, cheese and pork belly have sharply grown since mid-September, according to E-mart, a supermarket chain of retail giant Shinsegae Group.Dairy products are displayed at an E-mart store in Seoul. (E-mart)Butter was the most popular item with a
Oct. 16, 2016
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LG revamps English website for energy solution biz
LG Group has rolled out a revamped English website for its energy solutions business as part of its global strategy targeting potential overseas clients in the renewable energy sector, the company said Sunday.Through the use of multimedia, including infographics and video, the group has tried to give a broader picture of this area of its business -- one of its future growth strategies -- and to build a reliable corporate image as the leader in energy solution business.LG has been expanding its p
Oct. 16, 2016
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Rejections of Korean goods by Chinese customs soar in Aug.
The volume of South Korean foods and cosmetics rejected by China's customs authority soared in August, a trade association in Seoul said Sunday, triggering speculation that Beijing may be building nontariff barriers against Korean exports.A total of 61 shipments of Korean food and cosmetics were rejected by Chinese customs in August, accounting for 25.8 percent of China's entire 236 customs rejections for the month, skyrocketing from five in July, the Beijing branch of the Korea International Tr
Oct. 16, 2016
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Imported beer sales at discount stores on steady rise
Sales of imported beer at South Korean discount stores have sharply risen as more consumers prefer various flavors, also helped by a growing number of people who drink at home, industry officials said Sunday. E-Mart, the nation's largest discount chain, said sales of foreign beer brands from Jan. 1 to Oct. 13 accounted for 44.5 percent of the total. The figure has steadily increased from 17.4 percent in 2011, 32.2 percent in 2013 and 38.3 percent in 2015. A shopper chooses a bottle of imported
Oct. 16, 2016
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Court decides to sell Hanjin Shipping’s Asia-US network
The Seoul court said Friday it has decided to sell the core business route of Hanjin Shipping as part of court receivership moves to secure cash. Seoul Central District Court, which is in charge of the court receivership of the near-bankrupt company, said it will put up a public notice of sale for Hanjin’s Asia-US shipping network and will receive letters of intent by Oct. 28. The prices have not been determined yet. (Yonhap)The Asia-US route is one of the core assets of the company, drawing ar
Oct. 14, 2016