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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E-mart, SM Entertainment announce joint concert
Supermarket chain E-mart and K-pop powerhouse SM Entertainment announced Sunday that they would be giving a joint concert this Tuesday.The concert will feature SM artists and overseas DJs alongside Electro Man, the mascot of Emart’s electronics brand Electro Mart. Electro Man (E-mart)To fit the dynamic image of Electro Mart, the concert is more specifically a collaboration with SM’s electronic dance music label ScreaM Records.The announcement marks an upgrade in the collaborative efforts betwe
April 24, 2016
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Hyundai Heavy likely to post profit in Q1: sources
(Yonhap)Hyundai Heavy Industries Co., a major South Korean shipyard facing a large-scale corporate restructuring, is expected to have posted a profit during the first quarter of the year, brokerage and industry sources said Sunday.According to the sources, Hyundai Heavy Industries will likely post a profit ranging from 78 billion won ($68.2 million) to 270 billion won during the January-March period. The shipyard is scheduled to disclose its earnings on Tuesday.Its smaller rivals -- Samsung Heav
April 24, 2016
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Big construction deals on horizon during Park's Iran visit
South Korean construction companies are set to sign a series of big development projects in Iran when a business delegation visits the Middle Eastern nation next month to promote bilateral economic ties, industry officials said Saturday. President Park Geun-hye is to visit Iran from May 1-3 to discuss ways to promote business ties between the nations, leading a delegation of some 200 businesspeople from such areas as construction, energy and finance.Her visit, the first of its kind by a South Ko
April 23, 2016
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[Weekender] Healthful Korean tea to fit every need
Since long ago, tea in Korea has been associated with medicinal effects. Many ingredients in traditional concoctions, such as ginseng, overlap with those used in tea. Besides green tea, there are many other types of tea enjoyed in lieu of water, as desserts and as healthy drinks. Another common one here is barley tea, known as bori-cha in Korean. Made by steeping roasted barley, the tea is enjoyed both hot and cold, and substitutes drinking water in many homes and restaurants. This grain-based
April 22, 2016
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[Weekender] Tea franchises tap growing interest in health, demand for diversity
In South Korea, home to some of the world’s most avid coffee consumers, tea has often been pushed aside as a traditional drink befitting the older generation and out of touch with modernity. However, with more Koreans prioritizing health and demanding wider beverage options, tea is gradually emerging as an attractive drink, fueling the country’s fledgling tea industry. Tea franchise O’sulloc`s tea. (AmorePacific)
April 22, 2016
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AmorePacific chairman’s siblings suspected of running paper companies
Two children of AmorePacific Group’s late founder Suh Sung-hwan were found to have established paper companies in the U.S. Virgin Islands in an apparent scheme to evade taxes, a local news outlet reported on Thursday.Citing legal documents leaked by Panama-based law firm Mossack Fonseca, Newstapa said it has discovered two ghost companies each established under the name of the founder’s oldest son Suh Young-bai and youngest daughter Suh Mi-sook.The two are siblings of AmorePacific chairman Suh K
April 22, 2016
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Foreigners cut their holdings of Hyundai Merchant bonds
Foreigners have sharply reduced their holdings of exchangeable bonds issued by the financially troubled Hyundai Merchant Marine Co. to avoid bigger losses, industry sources said Friday. In the past four months, a large number of foreigners have exchanged their bonds issued by Hyundai Merchant into KB Financial Group stock. Consequently, the outstanding value of the company's EBs fell to less than 50 billion won ($44 million) recently from 100 billion won at the end of December, people familia
April 22, 2016
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Massive layoffs in shipbuilding sector in the offing
Another massive reduction in the local shipbuilding workforce may come as most shipyards are still struggling with falling orders and mounting losses, industry sources said Friday.Hyundai Heavy Industries Co., one of the country's top three shipbuilders, is set to announce its restructuring plans next week, which may include a 10 percent cut of its workforce, which would mean about 3,000 workers would leave the company.Hyundai Heavy's local rivals are also expected to sharply reduce their workfo
April 22, 2016
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Food watchdog to tighten checks on 'national' snacks
South Korea's food watchdog said Friday it will tighten controls on the safety of the country's two most popular snacks as makers often fail to meet sanitary requirements.The Ministry of Food and Drug Safety said it has announced a revision to the enforcement decree of the Food Sanitation Act that mandates manufacturers of "sundae" and "tteokbokki" abide by safety guidelines called the Hazard Analysis and Critical Control Points. (Yonhap)Sundae is the popular Korean-style blood sausage and tteo
April 22, 2016
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South Korea’s air traffic up 8.2 percent in Q1
South Korea’s air traffic rose 8.2 percent in the first quarter compared to a year earlier, mainly due to an increase in Chinese flights, the government said Friday.The number of flights handled by the country reached 176,377 in the January-March period, up from 161,205 in the same period last year, according to the Ministry of Land, Infrastructure and Transport. (Yonhap)On average, there were 1,939 flights per day during the three-month period.The data also showed that the number of internation
April 22, 2016
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Transforming toy mesmerizes kids as well as local toy market
Han Hee-min, a 43-year old office worker, has a must-have item to purchase. It is not for him, but for his only son. It's not a luxury brand good or even a high-priced one.But he becomes growingly impatient to get his hands on a Turning Mecard, with his 7-year old kid prodding him to buy the transforming toy robot series for him as the May 5 Children's Day comes near.Late last year, he stood in line for three hours in the early morning to buy the toy, but he failed to grab it. "Fathers, just lik
April 22, 2016
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[Graphic News] Slow progress of peak wage system
Four out of 10 Korean companies, which are supposed to adopt the peak wage system this year, have implemented the new wage scheme, the Korea Chamber of Commerce and Industry said Thursday.Starting this year, companies that have more than 300 employees are required to introduce the peak wage system to share jobs with younger generations. According to the survey result released by the KCCI , 42.7 percent of 300 respondents adopted the system. In the peak wage system, employees get less pay from th
April 21, 2016
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Is Banana the next honey butter?
Banana is one of the cheapest and common tropical fruits, and definitely not something that most people are desperate for. But what if that familiar sweet taste meets with chocolates, cakes and even soju? The result is quite explosive. This special combination has made it the hottest item in the food and beverages market in Korea. Orion's Choco Pie BananaFrom banana-flavored Choco Pie, potato chips, to makgeolli or rice wine, a number of food processing companies have been introducing a series o
April 21, 2016
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Operating profit of POSCO jumps 94% in Q1
POSCO Group posted an operating profit of 659.8 billion won ($582 million) in the first quarter, a 93.7 percent increase over the same period last year, the nation’s top steelmaker said Thursday.The combined net profit also skyrocketed 221.9 percent to 352.5 billion won in the same period, thanks to performance improvements in steel-making and trading businesses. Revenue of POSCO and its key affiliates including POSCO Daewoo, however, fell 10.3 percent to 12.46 trillion won in the January-March
April 21, 2016
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[Photo News] LIG supports disabled soccer team
LIG SUPPORTS DISABLED SOCCER TEAM -- LIG Group and its affiliates donated 70 million won ($62,000) to the Korean Football Association For the Disabled to mark Korea‘s Disability Awareness Day on Wednesday. Group affiliate Huseco CEO Kim Gye-hong (right) poses with KFAD president Nam Young-woo during a ceremony to deliver the funds at the group‘s headquarters in Seoul. LIG has financially supported the soccer association since its founding in 2007. (LIG)
April 21, 2016
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POSCO E&C collaborates with Italian designer
POSCO Engineering & Construction teamed up with Italian designer and architect Alessandro Mendini for the design of the exterior of its The Sharp apartments, according to company officials on Thursday. POSCO E&C previously collaborated with Mendini in 2013 for the design of its apartment entrance and signboards of apartment community facilities. The collaboration took place again this year by including square patterns of different colors to enhance the visual exterior of the apartment buildings.
April 21, 2016
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Luxury market on revolutionary path to openness, connectivity
Luxury has long been a subject of admiration and exclusivity. Fashion products created with expert craftsmanship and inspired by high-end culture, however, are likely to take a different path in the future, according to global fashion leaders gathered in Seoul for the Conde Nast International Luxury Conference. In the future, the concept of luxury may become more democratic and open, as technological advancements transform how people consume information and spend money, they said. “The velvet
April 21, 2016
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Top biz groups to reduce new employment this year: survey
Korea's leading business groups are expected to reduce their new recruitment in 2016 from a year earlier, a survey showed Thursday, boding ill for job seekers already struggling with a high unemployment rate.According to the survey by the Federation of Korean Industries of the top 30 groups, they plan to employ a combined 126,394 new workers this year, down 4.2 percent from a year earlier. Federation of Korean Industries (Yonhap)The companies include Samsung, Hyundai Motor, SK, LG and Lotte.Fina
April 21, 2016
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Tourism industry's Q2 outlook improves: poll
Korea's tourism industry is expected to recover under the current quarter from the previous quarter, but the overall business sentiment still remains subdued, a poll showed Thursday. According to the survey conducted by the Korea Culture & Tourism Institute on 396 tour and hotel operators, the business survey index (BSI) stood at 77 in the April-June period.Foreigners at a Korean temple (Yonhap)The figure is higher than the first quarter's 59, but it is still below the 100 mark, which means pess
April 21, 2016
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Up to 4 new duty-free shops to be permitted in Seoul
The Korean government will announce as many as four local retailers that will be allowed to open new duty-free shops in Seoul next week in a bid to meet the growing demand from Chinese tourists, government sources said Thursday.Duty-free stores, mostly run by retail giants, such as Lotte Group, posted a combined 9.2 trillion won ($8 billion) in sales last year, with an average 15.1-percent growth over the past decade.As the government has put policy priority on boosting the sector, competition h
April 21, 2016