Most Popular
-
1
S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
-
2
Military aircraft evacuating S. Koreans in Lebanon returns home
-
3
Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
-
4
BTS-themed moon jar to be unveiled on Hangeul Day
-
5
Market uncertain on Korea's October rate cut despite slowed inflation
-
6
Special counsel bill to probe first lady scrapped
-
7
Korean bands get their day in the sun, finally
-
8
Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
-
9
Yoon set for talks with Marcos in Philippines
-
10
2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
-
LG Chem to focus on high value petrochemicals
Chemical and battery firm LG Chem said Sunday that it will focus on high value petrochemicals as part of its moves to boost its competitiveness and sales.With an aim to raise the sales of high value petrochemicals from the current 3 trillion won ($2.7 billion) to 7 trillion won by 2020, the company will expand the polyolefine products with its exclusive technology. This will lead to better quality of polyester and polypropylene, it said. By 2018, the company will inject 400 billion won in to rai
Aug. 28, 2016
-
POSCO steps up automotive steel plate business
Korea’s top steelmaker POSCO is putting efforts into enhancing its automotive steel plate business as one of the few global companies that supplies steel sheets for carmakers.Automotive steel plates, a cash cow steel product, are only supplied by some 20 out of about 800 steelmakers in the world. POSCO supplies 10 percent of the world total at 8.7 million tons. POSCO’s self-developed automotive steel plate is displayed at North American International Auto Show in Detroit in January. (POSCO)Earl
Aug. 28, 2016
-
Hanjin Shipping may face court receivership
Korea’s top shipper Hanjin Shipping may face court receivership this week while the government and the finance sector are preparing for measures against the possible aftermath.On Thursday, Hanjin Group submitted a rescue plan that planned 400 billion won ($358 million) of funds from Korean Air and 100 billion won from other Hanjin’s affiliates and Hanjin Group Charman Cho Yang-ho’s private account. The creditors, including the main creditor Korea Development Bank, however, expressed disappointme
Aug. 28, 2016
-
LS C&S Asia aims to double sales by 2021
HANOI, Vietnam -- LS Cable & System aims to double the sales of LS C&S Asia, which is to be listed in September, the company’s chief said last week. LS C&S Asia, the holding firm of the Korean cable-maker’s two Vietnamese units LS-VINA and LSCV, is slated to float its shares on South Korea’s main bourse KOSPI in September.“(Through the listing), LS C&S Asia aims to generate 1 trillion won ($890 million) in sales by 2021,” Myung Roe-hyun, the company’s head, said at a press briefing held in Hanoi
Aug. 28, 2016
-
[Weekender] Retailers eye wine market through exclusive sourcing
The wine industry is on the rise in Korea as consumers show an increasing preference for lighter, fruitier alternatives to the traditional strongholds of beer and soju. In response to the rising demand, companies in Korea are developing exclusive partnerships with wineries abroad to bring down prices and increase sales. The wine sampler at Mad for Garlic. (Mad for Garlic)“As we have more customers asking for wine, we wanted to find ways to bring them quality wines at lower prices,” a spokesman f
Aug. 26, 2016
-
Creditors to decide fate of Hanjin Shipping by Tuesday
Creditors of cash-strapped Hanjin Shipping Co. plan to decide whether to put the country's No.1 shipper under receivership by Tuesday, as a new self-rescue scheme falls short of expectations, its main creditor said Friday.On Thursday, Hanjin Shipping, under growing pressure from its creditors to secure more money to tide over a deepening cash shortage, submitted a stronger self-rescue plan. The new scheme includes sales of more assets and a capital infusion by its major shareholders.But the cred
Aug. 26, 2016
-
[Newsmaker] Top exec's death deepens Lotte crisis
Lotte Group fell further into crisis Friday after the conglomerate’s second man in the management was found dead in apparent suicide, with him set to face prosecution interrogation on the same day.Lee In-won, the retail giant’s vice chairman, the highest-ranking executive as a non-family member, appears to have committed suicide, the police said. His body was found at a walking trail in Yangpyeong, Gyeonggi Province, at around 7 a.m. Lee left a note in his car, apologizing to his family for endi
Aug. 26, 2016
-
Low-cost Jeju Air expanding flights to fuel growth
Low-cost carrier Jeju Air is focusing its energy this year on creating a foundation for strong, sustainable growth by expanding its fleet and flights, the Aekyung Group-owned airline said Friday.Last month, the airline added three new destinations to its portfolio including Sapporo in Japan, Kota Kinabalu in Malaysia, and Phuket in Thailand. The addition of flights to Sapporo gives Jeju Air the largest number of Korea-Japan routes among low-cost carriers in both countries.A Jeju Air plane (Jeju
Aug. 26, 2016
-
Hallyu stars boost ginseng popularity
Korea Ginseng Corp.‘s red ginseng products have gained international popularity after hallyu celebrities were seen drinking the healthy products in dramas, according to company officials.KGC officials said demand for “Hongsam Jeong Everytime Royal” among other ginseng products, is soaring in China and other Asian countries thanks to popular actors such as Song Joong-ki and Kim Woo-bin. Actor Kim Woo-bin (above) and Song Joong-ki drink “Hongsam Jeong Everytime Royal” in dramas. (Screenshot captur
Aug. 26, 2016
-
Lotte Group Vice Chairman found dead in apparent suicide
Lotte Group Vice Chairman Lee In-won was found dead in an apparent suicide Friday morning, just hours before he was scheduled to be questioned by prosecutors as part of the ongoing investigation into the retail giant.According to police, Lee‘s body was found on a walking trail in Yangpyeong-gun, Gyeonggi Province, at about 7 a.m. Police identified him by his business card and ID. Lee In-won (Yonhap)Police said that there was no indication that Lee‘s death could have been a homicide, adding that
Aug. 26, 2016
-
Studio apartment block set to open in center of Gangnam
Korea’s leading builderDaewoo Engineering & Construction announced Friday that it will open a new studio apartment building in September near Yeoksam station in Gangnam, southern Seoul. The advantage of living in “Yeoksam Central Prugio City” comes from its easy-to-commute location, Yeoksam, where is known to be one of Seoul’s central business quarters. It is also convenient to commute to other areas in Seoul by metro and highways, company officials said.The artist rendering of Yeoksam Central P
Aug. 26, 2016
-
Lotte Group shocked by No. 2 man's suicide
Employees at Lotte Group, South Korea's fifth-largest conglomerate, were shocked Friday by the news that its No. 2 man had died ahead of his planned appearance before prosecutors for questioning over his role in a series of scandals.Lee In-won, the group's vice chairman, was found dead in Yangpyeong, south of Seoul, earlier in the day in an apparent suicide, according to the police.Lee has been regarded as one of the closest aides to Lotte Group Chairman Shin Dong-bin."He might have been put und
Aug. 26, 2016
-
Korea resumes kimchi exports to China
South Korea has resumed exporting its traditional side dish kimchi to China after a hiatus of nearly six years as the Beijing government eased its regulations on the pickled food, the agriculture ministry here said Friday.Four local kimchi companies held a ceremony in Wonju, southeast of Seoul, on Wednesday to celebrate the resumption of kimchi exports, following business deals with their Chinese buyers, according to the Ministry of Agriculture, Food and Rural Affairs.The first batch of kimchi,
Aug. 26, 2016
-
From strangers to business partners through female leaders' conference
One can easily mistake Jun Young-soon and Jun Kyung-sook for sisters because of their similar heights and hairstyles, and, yes, their names.But the two businesswomen met through an annual forum for Korean female leaders that was launched in 2001 by the South Korean Ministry of Gender Equality and Family aimed at growing and enhancing the global network of professional Korean women.At the 16th Korean Women's International Network, which kicked off on Wednesday on the southern resort island of Jej
Aug. 26, 2016
-
Lotte Group vice chairman found dead amid probe
Lotte Group Vice Chairman Lee In-won was found dead Friday morning in an apparent suicide ahead of his appearance in front of prosecutors for questioning regarding the ongoing investigation into Lotte Group, according to police. He was found on a walking trail in Gyeonggi Province. A note was later found in his car. Details on the note have not yet been confirmed. Lotte Group chief Shin Dong-bin's number two man, Lee In-won, has been found dead in an apparent suicide.Lee was widely known as the
Aug. 26, 2016
-
Hanjin Shipping submits new self-rescue plan to creditors
Cash-strapped Hanjin Shipping Co., under growing pressure from its creditors to secure more money to tide over a deepening cash shortage, submitted a stronger self-rescue plan, which may include the sales of more assets and a capital infusion by its major shareholders, industry sources said Thursday.But details of the self-rescue scheme were not immediately known.According to the sources, Hanjin Shipping, the country's No. 1 shipping line, initially proposed raising some 400 billion won ($353 mi
Aug. 25, 2016
-
Fortune picks CJ Group, as a 'company to watch'
Korean conglomerate CJ Group was chosen as one of this year‘s 7 World-Changing Companies to Watch by US business magazine Fortune, the company said Thursday. The selection comes on the company’s efforts to revive the economy of a small village in Ninh Thuan, Vietnam, which reflects the group’s corporate philosophy of “creating shared value.” The official logo of CJ Group (CJ Group)Since 2013, the group has educated farmers there how to grow red chilis in cooperation with the Korea International
Aug. 25, 2016
-
[Photo News] Korea-Chile biz cooperation
Members of the Committee of Economic Cooperation Korea-Chile attend its 21st meeting, organized by the Korea Chamber of Commerce and Industry, in a hotel in Seoul on Thursday. KCCI
Aug. 25, 2016
-
T'way Air tops consumer survey among budget carriers
T'way Air Co. has taken the top spot in a customer satisfaction survey for budget carriers, with high scores in facilities and staff service, a consumer watchdog said Thursday. According to the survey conducted by the Korea Consumer Agency on 1,000 consumers, T'way Air garnered the highest score of 3.52 points out of 5, slightly ahead of Air Busan Co. and Jin Air Co. each with 3.49. Eastar Jet and Jeju Air followed with 3.45 and 3.42 points, respectively. T'way Air, a Seoul-based budget carrier,
Aug. 25, 2016
-
Hyundai Motor, union reach wage deal
Leaders of unionized workers at Hyundai Motor said Thursday that they will put a tentative wage deal into a vote on Friday, raising hopes for ending labor disputes blamed for disrupting production.The vote is taking place, two days after the two sides reached the deal tentatively.The management and the labor at the nation’s largest carmaker, on Wednesday evening agreed to raise workers’ base monthly pay by 58,000 won ($51) and provide 350 percent of their base monthly salary with 3.5 million won
Aug. 25, 2016