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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Can Jennie break the K-pop solo artist slump?
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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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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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Dongwon recalls tuna cans over unidentified substance
Dongwon F&B has begun a voluntary recall of its mild tuna products in response to consumer concerns over an unidentified black substance in some of the cans, the company said Friday.The recalled product is the brand’s Mild Tuna 210 g, marked with expiration dates from March 23 to April 25, 2021. The company said that about 1.17 million cans will be collected from consumers and retailers.Dongwon said through a statement that the black substance was caused by “high heat in the manufacturing proces
May 13, 2016
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Gimpo airport to open new facilities for private, chartered planes
Gimpo airport, located just west of Seoul, will open dedicated facilities for private and chartered planes next month, South Korea's airport authority said Friday.The Seoul Gimpo Business Aviation Center will open at Gimpo International Airport in mid-June with an exclusive terminal and a hangar, according to the Korea Airports Corp.The terminal will have customs, immigration and quarantine facilities, as well as VIP rooms. The new aircraft hangar will be able to accommodate four planes at once,
May 13, 2016
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LG International, Tehran sign deal to cooperate in developing EVs
LG International Corp., the trading arm of South Korea's LG Group, said Friday that it has signed a tentative deal with the Iranian government to cooperate in developing electric vehicles and establishing necessary infrastructure.Under the deal, LG International will work with local companies to develop electric vehicles and build charging stations. They also agreed to produce about 60,000 units of EVs by 2023.Other details on the terms of the agreement were not known.Both sides are seeking to f
May 13, 2016
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Merger dispute on Kumho affiliates pits two brothers in another feud
A feud between brothers who formerly ran Kumho Group entered a fresh round with the younger brother trying to stop a merger that would hand over a lucrative affiliate to his elder sibling, corporate watchers said Friday.Kumho Petrochemical, run by younger brother Park Chan-koo, recently made an official demand to stop the merger between Kumho Terminal and Kumho & Company, calling the deal a grave negligence. Kumho Petrochemical chairman Park Chan-koo (left) and Park Sam-koo, chairman of Asiana A
May 13, 2016
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Oxy case tests Korean consumers
Kim Min-sun, a 35-year-old office worker in Seoul, recalls a winter day in 2010 when she bought a bottle of Oxy Ssak Ssak, a humidifier sterilizer accused of killing at least 103 Koreans, at a supermarket in Seoul.Cheap and convenient, the product was a hit item that built a false hope of getting rid of 99.9 percent germs inside the water tank of humidifiers.But what kept Kim wondering at that time was the name of the product manufacturer -- Oxy Reckitt Benckiser -- a U.K. company she was famili
May 12, 2016
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Daesang to introduce ‘mealworm soups’
Despite most people feeling uneasy about eating insects, one particular insect is scheduled to soon debut as a part of a protein-rich meal in South Korea. Jeong Poong, an affiliate of the Korean general foods company Daesang Group, on Thursday said that it will introduce a series of readymade soups made with protein from mealworms this year.Jeong Poong’s new soups made with mealworms (Jeong Poong) The new soups are infused with high-concentrate protein extracted from mealworms, the larval form o
May 12, 2016
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[Consumer This Week] CJ CheilJedang, Dr. Jart+, E-mart, Starbucks, Homeplus, Lotte
CJ CheilJedang launches fruit vinegar to flavor water Korea’s leading food maker CJ CheilJedang has launched a new “water enhancer,” which consists of portable containers of concentrated liquid flavor designed to be mixed with plain water.CJ’s “Petitzel Water POP” enhancer comes in three fruit vinegar flavors — green grape, lemon and mixed berries. CJ’s new product has a vinegar concentration that is eight times higher than conventional fruit vinegar. One 60-ml bottle can produce up to 20 cups (
May 12, 2016
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Incheon Airport sees more int’l flyers but fewer transfers
INCHEON -- Incheon International Airport saw a significant increase in international passengers from January to April this year compared to the same period in 2015, but fewer transfer flyers, the airport said Thursday.In the first four months of 2016 over 18.2 million passengers flew internationally through Incheon International Airport, up from 16.5 million last year. Incheon International Airport (Yonhap)Despite the increased number of flights and flyers, the number of transfer passengers dro
May 12, 2016
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Hyundai Heavy submits self-rescue plan to creditors
Hyundai Heavy Industries Co., a major shipyard in South Korea, has submitted a self-rescue plan to its creditors, which includes the reduction of more jobs and sales of assets, in order to tide over the deepening industrywide slump, industry sources said Thursday.According to the sources, Hyundai Heavy handed over the plan to the creditors, led by KEB-Hana Bank, earlier in the day.Local shipyards, including Daewoo Shipbuilding & Marine Engineering Co., have been pressed by their creditors and th
May 12, 2016
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Kakao’s Q1 net dips 65 percent
Kakao Corp., the operator of South Korea’s top mobile messenger KakaoTalk, said Thursday its first-quarter net profit plunged 64.5 percent on losses in its advertisement business and growing investment costs. Net profit reached 10.9 billion won ($9.3 million) in the January-March period, compared with 30.8 billion won the previous year, the company said in a regulatory filing. Operating income also dropped 47.7 percent on-year to 21 billion won, while sales rose 3.5 percent to 242.4 billion won.
May 12, 2016
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Hyundai Motor’s subcontractors to hire 18,000 workers this year
Subcontractors of Hyundai Motor Group plan to employ about 18,000 new workers this year, providing a much-needed boost for the country’s slumping job market, industry sources and company officials said Thursday.The employment plan involving about 380 subcontractors supplying parts and other products to the group is similar to the level of recruitment they made last year, according to the sources.Hyundai Motor Group, which has Hyundai Motor and Kia Motors under its wing, earlier unveiled a plan t
May 12, 2016
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Green Cross to issue bonds for U.S. expansion
Green Cross Corp., a listed Korean pharmaceutical company, said Thursday that it plans issue three and five-year bonds worth some 100 billion won ($86 million) to finance its expansion overseas.The company’s bond underwriter NH Investment & Securities will evaluate the value of the bonds graded AA minus through a book building process next week. Its bond issues mark the first time for the company to raise funds in the local capital market.“The proceeds will be used for its expansion in the advan
May 12, 2016
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Samsung Electronics No.1 in Indian smartphone market
Samsung Electronics was the No. 1 player in the Indian smartphone market in the first quarter of the year, data showed Thursday. Samsung took up a 25.1 percent share in the Indian smartphone market in the January-March period with sales of 64 million units, followed by Micromax and Intex with 16.5 percent and 9.4 percent, respectively, according to industry tracker Strategy Analytics.U.S. tech giant Apple Inc. took up around 2.7 percent of the Indian market in the first quarter, the data showed.
May 12, 2016
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8 duty-free shops found to collude fixing exchange rates: FTC
Eight Korean duty-free operators have colluded to fix foreign exchange rates for the past five years, the nation‘s antitrust watchdog said Wednesday. The Fair Trade Commission said that it issued correction orders to the eight major duty-free shops run by Lotte, Shilla, SK Networks’ Walkerhill, Dongwha and the Korea Tourism Organization. According to the commission, the duty-free shop operators jointly decided the won-dollar exchange rate through phone calls from 2007 to 2012. The price-fixing e
May 12, 2016
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[Photo News] Korea's first homegrown trainer jet goes into use
KOREA’S 1ST HOMEGROWN TRAINER JET -- President and CEO of Korea Aerospace Industries Ha Sung-yong (seventh from left), South Korea’s Air Force Chief of Staff Jeong Kyeong-doo (center) and other high-level military and government officials partake in an event Wednesday at the Korea Air Force Academy in Cheongju, North Chungcheong Province, to celebrate the fielding of the KT-100, the country’s first indigenous trainer jet developed by KAI. The same day, the South Korean Air Force commenced its de
May 11, 2016
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[Graphic News] Global ship orders drop by two-thirds
Global ship orders from January to April this year dropped by two-thirds to a total of 114 vessels, according to global shipping information provider Clarksons Research on Tuesday. In the same period last year, 473 vessels were ordered.Of the 114 vessels ordered so far this year, China obtained 59 vessel orders, taking 49.3 percent of all global ship orders. China’s compensated gross tonnage — an indicator of the amount of work necessary to build a ship — was 1.9 million. Meanwhile, Korea secure
May 11, 2016
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[Photo News] Big data partners with marketing
Marketing company Hakuhodo Cheil and big data service provider Treasure Data Korea signed a memorandum of understanding to research smart retargeting marketing on Wednesday. CEO of Hakuhodo Cheil Kazumasa Akiba (left) shakes hands with Treasure Data Korea general manager Lee Eun-chul at a ceremony in Seoul. (Emerson K Partners)
May 11, 2016
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Lotte chairman pushes mobile drive
Lotte Group chairman Shin Dong-bin is seeking to aggressively expand the use of his firm’s new mobile-based payment system, highlighting his ambition to take a lead in the fast-growing mobile market.Lotte’s new payment feature in its mobile app L-Pay is a key tool designed to realize the group’s vision of an omnichannel shopping system. Lotte Group chairman Shin Dong-bin (Yonhap)Lotte has been focusing on building an integrated shopping channel -- including online, off-line and mobile app based
May 11, 2016
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Doosan’s restructuring on track with asset sales
Market expectations of Doosan Group‘s profit turnaround are growing, with the completion of the conglomerate’s planned asset sales Tuesday. The Korean power equipment and construction giant successfully sold the heat recovery steam business unit of its construction arm Doosan Engineering & Construction for 300 billion won ($256 million) to General Electric. “This is the final deal that the group has pushed under its self-restructuring plan for the past two years,’’ a company spokesperson said.Fa
May 11, 2016
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Green Cross highlights effectiveness of new hepatitis B treatment
Green Cross, a Korean biopharmaceutical company, said Wednesday it presented the successful clinical trial results of a novel treatment for hepatitis B under development, GC1102, at a medical conference in Seoul last week. The company highlighted the results of ongoing phase II clinical trials on its new drug at this year’s International Liver Transplantation Society meeting.Green Cross delivers a presentation at a symposium held on May 6 as part of this year’s International Liver Transplantatio
May 11, 2016