Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Yoon set for talks with Marcos in Philippines
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Firefighters’ 3,000 won meals spark nutrition concerns
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Can Jennie break the K-pop solo artist slump?
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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China’s Neusoft chair seeks partnership with Korean EV battery makers
[THE INVESTOR] Neusoft Corp. chairman Liu Jiren is seeking partnerships with Korean battery makers as it renews commitment to the futuristic electric vehicle battery business as its growth engine. “We are looking at the EV battery business as one of our new growth engine businesses,” he said in a recent interview with local paper on June 28. Neusoft Corp. chairman Liu Jiren.He hinted the company could seek partnership with Korean battery makers such as Samsung SDI and LG Chem, the leading player
June 29, 2016
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Pernod Ricard Korea seeks major workforce reshuffle
[THE INVESTOR] Pernod Ricard Korea is conducting a voluntary redundancy program that could reshuffle its workforce by up to 15 percent, industry sources said on June 29. The company is offering voluntary redundancy program for all employees in mid-level management and higher positions, as it seeks to streamline itself in the face of deteriorating performance. Pernod Ricard Korea has been suffering from slipping market share for some years. The company’s share of the Korean whisky market dropped
June 29, 2016
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China Unicom to invest in Korean start-ups
[THE INVESTOR] Network operator SK Telecom said June 29 that a leading Chinese telecommunications firm has decided to invest in two Korean start-ups, which had participated in a start-up program run by the Korean telecom firm.SKT said the two start-ups -- Wisejet and Ezbelle -- have secured 900 million won ($769,500) of funding, respectively, from China Unicom, the second largest telecom firm in China. Jang Dong-hyun(second from left), the chief executive of SK Telecom, looks at products made by
June 29, 2016
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Ex-chairwoman of Hanjin Shipping summoned again over illegal stock trading
A former head of Hanjin Shipping Co. was summoned by prosecutors for the second time Thursday over suspicions she illegally sold company stocks after obtaining insider information to avoid losses, legal sources said.The Seoul Southern District Prosecutors' Office summoned Choi Eun-young as a suspect on charges of violating the Financial Investment Services and Capital Markets Act.The 54-year-old and her two daughters are suspected of selling stocks of the financially troubled Hanjin Shipping in
June 29, 2016
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Kakao Driver service fees slashed after user complaints
[THE INVESTOR] Internet giant Kakao plans to lower the service fees for its brand new chauffer service app called Kakao Driver next month amid user complaints about the expensive pricing. In a statement on June 27, the company said it will lower the current 15,000 won (US$13) basic fee to 12,000 won in major cities and to 10,000 won in other provincial areas. The service fee in the metropolitan area will remain the same. The fee cuts come as Kakao struggles to increase profits in its fast-expand
June 29, 2016
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South Korean businesses see gloomy July
[THE INVESTOR] South Korean businesses project difficult economic conditions in July, a survey showed on June 29. The business survey index or BSI for July outlook compiled by the Federation of Korean Industries came in at 90.5, down from 94.8 for June. BSI measures businesses’ assessment of economic conditions, and figures below 100 show negative assessment. For the latest figures, the FKI surveyed Korea’s top 600 companies by revenue. The FKI cited international uncertainties brought on by UK’
June 29, 2016
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CJ joins bid for Korean unit of McDonald's
The CJ Group, a Korean food and entertainment conglomerate, said Wednesday it has joined the race to buy the Korean unit of U.S. fast food chain McDonald's. McDonald's, which directly manages about 400 stores in Korea, has been looking for local partners to run them as franchise stores that pay annual commissions instead. (Yonhap)In a regulatory briefing, the CJ Group said it has submitted a letter of intent to the American headquarters of McDonald's, but "hasn't decided which affiliate will ta
June 29, 2016
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Steelmakers may bask in China rivals' merger: analysts
China's move to merge two state steelmaking giants may come as a short-term boon to POSCO and other Korean mills, but it could a pose threat to them in the long haul, analysts said Wednesday.Shanghai Baosteel Group Corp., the world's fifth-largest steelmaker by output, and No. 11 Wuhan Iron & Steel Group Corp. are reportedly in talks on a merger, which would create a company with an annual capacity of 61 million tons. Currently, ArcelorMittal is the top industry player with 114 million tons.The
June 29, 2016
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Hyundai Rotem wins W158b tank maintenance contract
[THE INVESTOR] Hyundai Rotem announced on June 29 that it has signed a 158.5 billion won (US$135.7 million) depot maintenance contract for K1 and K1A1 main battle tanks.Hyundai Rotem is the manufacturer of the tanks. K1 battle tank.The contract, issued by Defense Acquisition Program Administration, will require Hyundai Rotem to perform overhaul maintenance on the tanks by June 2017. The contract for K1 tank depot maintenance is 95 billion won, and that for K1A1 is 63.5 billion won. By Choi He-su
June 29, 2016
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KEPCO E&C to take part in international reactor project
[THE INVESTOR] KEPCO E&C is to take part in the International Thermonuclear Experimental Reactor project as part of the MOMENTUM joint venture, the company announced on June 29. According to KEPCO E&C, the value of the contract is 230 billion won (US$197 million).International Thermonuclear Experimental Reactor project KEPCO E&CThe JV, led by UK’s Amec Foster Wheeler, has been signed on as a construction management-as-agent, KEPCO E&C said. The JV also includes the French engineering firm Assyst
June 29, 2016
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Brexit raises uncertainty for Korean pharma firms
[THE INVESTOR] In wake of Britain’s decision to leave the European Union, some Korean pharmaceutical companies are concerned about the fallout that will affect their business in Europe. Some industry officials said the Brexit’s impact on Korean pharma companies will not be as severe as they already have a large domestic market. However, for some companies that have already entered Europe or are waiting to do so, including Celltrion and Samsung Bioepis, it can take some toll on them. Both Celltri
June 29, 2016
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Trade minister urges shipyards' reform for new leap forward
Korea's trade minister called on the country's ailing shipbuilders Wednesday to capitalize on their current crisis as an opportunity to strengthen the industry's constitution and take a new leap forward.Stung by mounting losses stemming from a global economic slump and stiffer competition, the nation's three major shipyards -- Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. -- are all in the midst of sweeping restructuring."The local sh
June 29, 2016
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Chinese IT firms eye Korean entertainment industry
[THE INVESTOR] A growing number of Chinese IT companies are investing in Korean entertainment companies, in response to the rising popularity of Korean culture and entertainment. Chinese companies poured in more than 100 billion won (US$ 85.3 million) in the local entertainment industry from November last year to June this year, industry sources say. Chinese game developer Kunlun Technology’s Korean office is mulling to invest in a midsized entertainment agency, local news reported on June 28. I
June 29, 2016
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Shinsegae’s Starfield Hanam to introduce exclusive mall experience to Koreans
SARASOTA, Florida -- At a glance, the Mall at University Town Center, the largest shopping mall in Sarasota, Florida, embodies the typical features of a traditional U.S. shopping mall. Spacious and horizontally spread out, with rows of shops, the mall offers immediate relief and creates anticipation to all who step inside. The Mall at University Town Center in Sarasota, Florida (Shinsegae Group)Taking a closer look inside, however, reveals several unique design elements. A 20-meter ceiling and a
June 28, 2016
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Prosecutors raid Lotte Foundation offices
Prosecutors raided the office of a high-ranking official of the Lotte Foundation in Seoul Tuesday as part of their bribery investigation into the foundation‘s chairperson Shin Young-ja.Through the raid, prosecutors were able to seize computer hard drives and documents from the foundation at the Lotte building in Seoul. The raid was limited to the office of a high-ranking foundation executive, who is known to be a close adviser to Shin. Shin, the eldest daughter of Lotte Group founder Shin Kyuk-h
June 28, 2016
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[Best Brands] How brands overcome tough times
With the ongoing economic slowdown, winds of change are disrupting consumer patterns. Consumers are reducing spending and seeking affordable brands. In other words, consumer needs and consumption standards are adjusting to the economic conditions. Corporations, in response, have reduced their investment in research and development as well as marketing, which are understandable efforts to minimalize costs. However, these efforts will not help companies make profits in the long run, because corpor
June 28, 2016
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[Best Brand] Singapore Airlines strives for service excellence
Singapore Airlines, Singapore’s flagship, award-winning airline company, is consistently working to improve its services and widen its travel routes to better serve and accommodate its customers. It runs an “International Culinary Panel” consisting of world-class chefs and wine consultants, who have developed fine dining options for passengers, including gourmet dishes such as hearty, nutritious salads.A Singapore Airlines planeSingapore Airlines also prides itself on its cutting-edge in-flight
June 28, 2016
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[Best Brands] Segero TV takes lead in volunteering
Online stock channel Segero TV is a breath of fresh air in the stock industry, with its focus on volunteering work. Segero TV run by Kim Won-ki, a stock analyst who has been in the industry for more than 30 years, is one of the most sought-after stock channels for the invention of its own ways to help investors reap profits from undervalued companies with high growth potential. Its new method is to better make up for principal without sales loss based on diverse technical analysis, the company s
June 28, 2016
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[Best Brand] Kanuda health pillows not just for good sleep
Sixteenth-century British dramatist Thomas Dekker said,” Sleep is that golden chain that ties health and our bodies together,” while the Dalai Lama said, “Sleep is the best meditation.”It is no longer a debate as to whether getting a good night’s sleep can help people regain their energy and refresh their minds. In fact, one-third of a person’s daily life is composed of resting on a bed. Therefore, it is crucial to sleep comfortably because it affects your health.Kanuda pillowsThere are all sort
June 28, 2016
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[Best Brands] ‘Travel with Maxim’ begins second season
Instant coffee-maker Maxim has launched the second season of its “Travel with Maxim” campaign, focusing on finding respite in the chaos of daily life with a cup of Maxim coffee.The two new TV spots created for the campaign feature Maxim’s Kanu model Gong Yoo enjoying Maxim coffee while enjoying the natural scenery of New Zealand. In the “Office” version, Gong Yoo is drinking coffee on a cliff while listening to the sound of crashing waves; in the “Home” version, he listens to the breeze while dr
June 28, 2016