Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Yoon set for talks with Marcos in Philippines
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Can Jennie break the K-pop solo artist slump?
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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First lady’s Dior bag scandal to be at center of Assembly audit
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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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Firefighters’ 3,000 won meals spark nutrition concerns
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Yoon honors veterans of Korean War in trip to Philippines
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LG Uplus, Microsoft agree to find new growth engines
U.S. tech giant Microsoft and Korea's No. 3 mobile carrier LG Uplus said Sunday the two firms agreed to join forces in tapping new business opportunities in the information communications technologies (ICT) segment.Under the memorandum of understanding, Microsoft and LG Uplus said the two will share their expertise and technologies in emerging ICT businesses such as cloud computing or big data services. LG Uplus (Yonhap)Microsoft said the firm wishes to combine its machine learning tools and big
March 6, 2016
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Lotte Holdings votes for incumbent Lotte chairman
Shareholders of Tokyo-based Lotte Holdings Co., which controls South Korea's fifth-largest conglomerate Lotte Group, voted on Sunday in support of Shin Dong-bin, the Lotte founder's second son and incumbent group chairman, helping strengthen his management grip against his elder brother Shin Dong-joo.During the meeting in Tokyo, shareholders rejected the request made by Shin Dong-joo, the oldest of 94-year-old Lotte founder Shin Kyuk-ho's two sons, to dismiss his younger brother from the company
March 6, 2016
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HMM plans sharp capital cut
Hyundai Group headquarters building in central SeoulHyundai GroupHyundai Merchant Marine is seeking to reduce its capital to one-seventh of its current value, in its latest bid to improve finances amid mounting losses. According to the plan, which was decided by the company’s board of directors on Thursday, the company will swap one new share with every seven existing ones. But the shareswill keep their face value of 5,000 won ($4.10). The total number of HMM shares in the market will shrink to
March 4, 2016
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Hyundai Motor’s China sales plunged in Feb.
Hyundai Motor saw its sales in China fall for a second straight month in February, industry data showed Friday. Hyundai Motor sold 53,326 vehicles in China last month, down 28.1 percent from a year earlier, according to data obtained from the English division of Yonhap News Agency. This set of data is not finalized and may be subject to changes. Compared to a month earlier, sales shrank 29.3 percent. This marked the second straight month of sharp declines following a 27.2 percent on-year fall in
March 4, 2016
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Bourse operator launches probe into Doosan shares spike
South Korea's bourse operator said Friday it has launched a probe into the trading of Doosan Group shares over possible unfair practices after they surged right before the announcement of the new chief.At around 2:40 p.m. on Wednesday, the country's power equipment and construction conglomerate said Park Jeong-won, chairman of the group's de facto holding firm Doosan Corp., was designated to be the group's new chairman to replace Park Yong-maan.In the late morning trades of the day, Doosan share
March 4, 2016
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Sportswear brands target women
Rihanna for PumaPumaSportswear brands, conventionally marketed as masculine, are striving to tap into the womenswear market, armed with vivid colors and sleek design on top of women-only events. They are seeking to ride on “athleisure” -- a combination of “athletic” and “leisure” – a fashion trend in which clothing is designed not just for athletic workouts but is also fashionable and can be worn on other occasions. According to the Korea Research Institute or Fashion Industry’s report, women’s
March 3, 2016
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E-mart, SM Entertainment launch private brand together
People hold EXO jjajangmyeon from the SM Entertainment and E-mart collaboration line at an E-mart store in Seoul. E-martE-mart on Wednesday launched a brand inspired by the artists signed to SM Entertainment, one of Korea’s most influential showbiz agencies. E-mart, which is run by the Shinsegae Group, is the country’s largest discount store chain. The “SM X E-mart” collection comprises of 14 food items endorsed by SM entertainers. This includes jjamppong, a spicy noodle soup, and jjajangmyeon,
March 3, 2016
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[Newsmaker]Will Doosan's generation shift bring changes?
Doosan Group chairman Park Yong-maan’s announcement he would hand over his top position to his nephew Park Jeong-won surprised the corporate world here this week, not just because of the peaceful power transfer he sought, but also because of the timing and significance the decision carried.The 54-year-old heir has always been first in the succession line, according to a unique tradition of the family-owned business, similar to the leadership of Muslim dynasties that has tended to pass between br
March 3, 2016
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GS chairman emphasizes shared growth at innovation center
GS Group chairman Huh Chang-soo called for shared growth between big businesses and local small and medium-sized enterprises during his visit Thursday to the group-led creative economy innovation center in Yeosu, South Jeolla Province. The Jeonnam Creative Economy Innovation Center was jointly established by the South Korean government and GS Group in June 2015 in a bid to nurture new businesses in the nation’s agricultural sector, drive up growth in the biomass chemicals industry and spur regi
March 3, 2016
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CJ vice chairwoman named Berklee board member
The Berklee College of Music in Boston said Thursday it has named Lee Mie-kyung, vice chairwoman of South Korean conglomerate CJ Group, as a new member of its board of trustees. The CJ executive, a U.S. citizen known as Miky Lee outside of Korea, has been overseeing the group’s entertainment and media business ranging from music to TV dramas since 1995. Lee Mi-kyeong (Miky Lee) As one of the most influential figures in promoting Korean pop culture overseas, Lee was the first Asian woman to recei
March 3, 2016
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[Consumer This Week] Burberry, CJ, Lafuma, Nongshim, Espoir, Beyond, 7Eleven
Burberry unveils “Art of the Trench in Seoul” project Burberry, a British luxury clothing and accessories brand, has launched its “Art of the Trench in Seoul” project here. The project, which commemorates Burberry’s signature trench coat, captured various people wearing the brand’s trench coat in different parts of the city. Around 30 celebrities including actors Lee Jong-suk, Cha Seung-won and Ko Su, as well as actresses Choi Ji-woo and Han Hyo-joo participated in the making of the project. Th
March 3, 2016
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E-mart, SM Entertainment launch private brand
E-mart on Wednesday launched a private brand inspired by the artistes of SM Entertainment, one of Korea’s most influential showbiz agencies. E-mart, which is run by the Shinsegae Group, is the country’s largest discount store chain. The “SM X E-mart” collection comprises of 14 food items endorsed by SM Entertainment’s artistes. This includes jjamppong, which is spicy noodle soup, and jjajangmyeon, which are noodles in black soy bean sauce, endorsed by EXO. There are popcorn items endorsed by Sup
March 3, 2016
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Coupang losses deepened in 2015 on big logistics investment
Korean e-commerce operator Coupang is expected to log mounting operating losses for 2015 due to hefty investments in the firm’s logistics capacity, industry sources said Thursday. Coupang is expected to log over 400 billion won ($326.9 million) in operating losses when it files its 2015 audit report in mid-April due to rising costs in building new logistics centers and hiring new staff, according to the sources.Coupang’s sales were estimated to have jumped more than fourfold last year from 348.5
March 3, 2016
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POSCO to raise steel prices to reflect increased cost
POSCO has decided to raise the prices of its high value-added electrical steel products for domestic consumption, a move expected to lead to a hike in prices of automobiles, refrigerators and other home appliances, industry sources said Thursday.According to the sources, the Korean steelmaking giant recently decided to raise non-oriented and oriented electrical steel prices by 50,000 won ($40.73) and 200,000 won per ton, respectively, in the middle of this month.The price increases for the steel
March 3, 2016
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Online sales soar 21% in January
Online shopping sales in Korea surged 21 percent in January from a year earlier on robust demand for foodstuffs and cosmetics, a government report showed Thursday.Total online transactions reached 5.21 trillion won ($4.27 billion) in the first month of 2016, compared to 4.3 trillion won a year earlier, according to the report compiled by Statistics Korea.The January tally, however, retreated 2.8 percent from a record high of 5.36 trillion won in December.Purchases made through smartphones, table
March 3, 2016
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Seoul city approves Shilla's plan for hanok hotel
The city of Seoul approved a plan by Hotel Shilla to build a traditional-style accommodation in central Seoul after rejecting previous attempts, officials said Thursday.The Seoul Metropolitan Government reached an understanding on Wednesday to endorse the plan to erect a hotel built in the hanok-style within the compound of the luxury hotel's vast grounds in Jangchung-dong. Hotel Shilla is an affiliate of South Korea's biggest conglomerate Samsung Group. Hanok refers to traditional Korean tiled
March 3, 2016
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Focus shifts to boosting SME exports
Over the coming year, the Bank of Korea will make available a total of 9 trillion won ($7.28 billion) in low-interest loans for small and medium-sized enterprises in a bid to reinvigorate the economy.Of the amount to be channeled to SMEs through commercial banks, starting Tuesday, 3 trillion won will be used to support their trade finances and 2.9 trillion won will be spent on boosting their capital investment. The remainder is earmarked to help start-ups.The measure to augment the bank’s interm
March 2, 2016
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Qurient garners spotlight from biotech investors
Qurient, a biotech venture firm engaged in developing new treatments, is attracting interest from investors since debuting on Korea’s tech-driven KOSDAQ stock market on Monday. On the day of its stock market debut, Qurient’s stock price surged by 15.04 percent from its starting price to close at 33,900 won on Monday. It again rose by 15 percent to close at 39,000 won on Tuesday and by 19 percent to reach a closing price of 46,600 won on Wednesday. The company’s stock price is continuing to trea
March 2, 2016
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Bodyfriend ranks No. 1 in massage chair market
Bodyfriend, a South Korean health care company specializing in building premium automated massage chairs, has retaken the No. 1 spot as the country’s leading massage chair maker. The company was ranked as the top player in the segment locally in terms of market share, brand preference and brand awareness for 2015, by local market analyst Hankook Research on Wednesday. Bodyfriend took up 66.1 percent of Korea’s total massage chair industry, according to the research firm’s survey of 500 local con
March 2, 2016
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[Photo News] Hanwha introduces solar module lines at PV EXPO 2016
HANWHA AT PV EXPO 2016 -- Hanwha Q Cells is presenting its solar photovoltaic products and solutions at this year’s PV Expo in Tokyo, Japan, taking place from March 2-4. The solar cell manufacturer will introduce new photovoltaic module lines built with its proprietary Q.ANTUM cell technology as well as a glass-to-glass module prototype, a next-generation module made using a second glass layer instead of a conventional back sheet to enhance the module’s robustness and durability. (Hanwha Q Cells
March 2, 2016