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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Ssangyong Motor unveils “Tivoli Air”
Ssangyong Motor on Monday said the long-body version of its popular Tivoli sport utility vehicle has been named the “Tivoli Air.” The carmaker also showcased rendered images of the new model. Most of the design was based on minimalistic concepts, Ssangyong said. Tivoli Air’s official debut will be in March. Rendered images of Ssangyong’s Tivoli Air. (Yonhap)Ssangyong’s Tivoli lineup has emerged as one of the carmaker’s most popular SUV models since its debut in January last year. The company so
Feb. 15, 2016
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Convenience stores sales jumped in 2015
Convenience stores sales jumped in 2015 on the rising popularity of ready-made meals and items for single-person households, industry data showed Monday.Sales rose 29.6 percent to 16.52 trillion won from the year before. The figure outpaced sales of other offline retailers in South Korea that reached a combined 276.91 trillion won ($229.23) to show a 3.4 percent increase from a year earlier, said Statistics Korea. Caption: Inside of a local convenience store. (Yonhap)Convenience stores have eme
Feb. 15, 2016
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Hyundai Motor Group to hire over 10,000 workers this year
Hyundai Motor Group is expected to recruit more than 10,000 employees this year, industry and company sources said Monday.“There will be more recruits this year than last year,” a company official said on condition of anonymity. “The details for each affiliate have yet to be confirmed, but the overall number could exceed 10,000.”This is in line with the group’s mid- and long-term employment strategy. Hyundai Motor Group -- the nation’s second-largest conglomerate -- has laid out plans to employ
Feb. 15, 2016
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Ssangyong to recall Korando C for seat belt problems
SsangYong Motor is voluntarily recalling 2,637 of its Korando C sport utility vehicles for problems in seat belt anchors, the Transportation Ministry said Monday.The seat belt system was found to have problems during a belt anchorage strength test conducted by the carmaker in accordance with government guidelines, officials said. The glitch was detected in 2,637 Korando C SUVs produced between March 30, 2015 and May 26, 2015.Free repair services will be available from Monday at SsangYong service
Feb. 15, 2016
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eBay Korea ups support for cross-border trade
Trade Minister Joo Hyung-hwan tries his hand at locating Gmarket stock at eBay Korea’s overseas logistics center in Incheon on Jan. 21. eBay KoreaKorea’s largest e-commerce operator eBay Korea on Sunday vowed to continue leading cross-border trade by boosting support to small-scale domestic merchants to advance into the global market. “The online export market is expected to grow further as hallyu, or Korean wave, is spreading globally, and with the impact of free trade agreements,” said Koo Ja
Feb. 15, 2016
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Korea's chocolate imports hit record high in 2015
(Yonhap)South Korea's imports of chocolate edged up on-year to an all-time high in 2015 amid its growing popularity among local consumers, official data showed Sunday.The country imported 31,066 tons of chocolate and chocolate confectionery last year, up 1.3 percent from the previous year and the highest amount ever, according to the data by state-run Korea Agro-Fisheries & Food Trade Corp. It was up a whopping 47.1 percent from 2010 and roughly double the amount in 2000.The value of the chocola
Feb. 14, 2016
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Number of top Korean goods in export markets shrinks in 2014
The number of South Korean products with the largest share in their global export market dropped slightly from a year earlier in 2014, but their combined share rose significantly, indicating a possible rise in their global competitiveness, a report showed Sunday.According to the report from the Korea International Trade Association, the number of South Korean products with the largest share in the export market came to 64 in 2014, down from 65 the previous year.Unlike global market share, which
Feb. 14, 2016
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SK Telecom's foreign ownership hits 15-year low
Foreign ownership of South Korea's top mobile carrier SK Telecom Co. has tumbled to a 15-year nadir, data showed Sunday, amid growing skepticism over the company's plan to reshape its business line.In November last year, SK Telecom signed a deal to acquire CJ Hellovision Co., South Korea's top operator of cable channels and Internet TV content, unveiling a plan to merge it with its wholly owned subsidiary SK Broadband Co.According to the data by the Financial Supervisory Service and the Korea Ex
Feb. 14, 2016
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Number of eco-friendly cars in Korea spikes 29% in 2015
The number of eco-friendly cars in South Korea shot up almost 29 percent in 2015 from a year earlier amid the government's push to put more green automobiles on the road, data showed Sunday.The country had 180,361 registered eco-friendly vehicles as of the end of last year, up 28.6 percent from a year earlier, according to the data from the Korea Automobile Manufacturers Association and the transportation ministry.Hybrids were the lion's share of the representation with 174,620 units, a 27 perce
Feb. 14, 2016
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Hyundai, Kia top auto sales in Vietnam in 2015
South Korea's top automaker Hyundai Motor Co. and its smaller cousin Kia Motors Corp. emerged as the top automobile seller in Vietnam for the first time in 2015, beating global leader Toyota Motor Corp., industry data showed Sunday.Hyundai and Kia, the flagships of the world's No. 5 automaker Hyundai Motor Group, sold a combined 62,189 units in the Southeast Asian country last year for a market share of 29.8 percent.Toyota posted sales of 50,285 vehicles, with its market share standing at 24.1 p
Feb. 14, 2016
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Global auto chip market forecast to log solid growth
The global automotive chip market is expected to grow solidly over the next few years, driven by the rise of autonomous vehicles, a market tracker said Sunday.According to IHS Technology, the worldwide market for chips used in vehicles is forecast to increase at an annual average rate of 5.5 percent over the next six years.In particular, the annual growth rate of the market for chips used in so-called advanced driver assistance systems will likely reach a whopping 14.2 percent, it said.ADAS refe
Feb. 14, 2016
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[Newsmaker] Hyundai Group mired in N.K. tension
Escalating tensions between the two Koreas is adding more pressure on North Korea-related business operator Hyundai Group, which is already struggling to save its shipping unit from a deepening liquidity crisis. In response to a recent nuclear test and rocket launch by the North, South Korea on Thursday announced its withdrawal from the Gaeseong industrial park, the last remaining symbol of economic cooperation between the two nations. Workers walk pass a glass door at Hyundai Asan headquarters
Feb. 12, 2016
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Sales of Orion in China hit record high of W1.3 tr
Sales of Korean snack and confectionary maker Orion in China hit a record high of 1.3 trillion won ($1.07 billion) in 2015, a 14.8 percent increase from a year ago, the company said in a press release on Friday. Few South Korean companies, including AmorePacific and E-Land, have reaped more than 1 trillion won in the world’s most populous market so far. Net profit of the Chinese arm of Orion also jumped 23.3 percent on year to 200.4 billion won. The business success in China lifted the entire pe
Feb. 12, 2016
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Gaeseong-based S. Korean firms call for gov't compensation
South Korean companies based in the North Korean border city of Gaeseong urged the government on Thursday to roll out follow-up measures to compensate damages caused by its earlier decision to indefinitely suspend the operation of the joint industrial park."We will ask the government to make compensations and roll out follow-up measures regarding the irresponsible decision," Jeong Gi-seob, who heads the Corporate Association of Gaeseong Industrial Complex said. "For now, we deeply resent the gov
Feb. 12, 2016
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Hyundai Heavy wins two oil tankers deal from Turkey
Hyundai Heavy Industries Co., a South Korean shipbuilder, said Thursday it struck a deal with a Turkish counterpart to build two oil tankers tankers sized at 158,000 tons each.Under the deal estimated at US$120-140 million, Hyundai will hand over the ships to Turkey-based Ditas Shipping in 2018.It marked the first order won by the country's top three shipbuilders, which have been suffering from an earnings slump, hit by a protracted decrease in oil prices and increased costs.South Korean shipbui
Feb. 12, 2016
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News for consumers
Ikea posts recall orders on lampsIkea Korea posted recall orders for its Rinna wall lamp, Lock ceiling lamps as well as Hyby lamps, after reports that the glass covers had fallen and inflicted injuries. According to Ikea, only Hyby and Lock lamps are sold in Korea, but Rinna will be subject to the refund, too. Those who have purchased the respective lightings will be able to receive a full refund without receipts, if they take the product to the Ikea store in Gwangmyeong, Gyeonggi Province. For
Feb. 11, 2016
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Time-pressed, strategic spenders turn to at-home beauty care
Despite her busy schedule, Kim Na-eun, a 30-year-old office worker in Seoul, visits a skin care clinic every now and then, whenever she feels the need to rejuvenate, or allot some “proper attention” to her skin. These days, though, her visits have stopped -- not because she has stopped investing in skin care, but since she now relies on a set of high-end self-aesthetic devices instead to look after her skin. Ranging from a rechargeable sonic skin cleansing brush to a microcurrent-generating faci
Feb. 11, 2016
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KB Financial to strengthen nonbanking services
KB Financial Group, one of the country’s largest financial groups, seeks to improve its management structure by strengthening its nonbanking business, the lender said last week.The group hopes to enhance its portfolio by maximizing the synergy created among its financial subsidiaries, which include KB Asset Management and KB Investment and Securities. According to statistics released by the group, some 67 percent of KB’s main profits currently come from KB Kookmin Bank, the country’s largest com
Feb. 11, 2016
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LG Life Sciences’ new 5-in-1 vaccine approved by WHO
LG Life Sciences’ 5-in-1 vaccine Eupenta (LG Life Sciences)LG Life Sciences, the biopharmaceuticals unit of LG Group, said Wednesday its self-developed 5-in-1 multifunctional vaccine Eupenta has received the World Health Organization’s prequalification approval. The PQ approval grants LG eligibility to join the United Nation’s procurement bid for 5-in-1 vaccines this year, which means it could become a potential stable vaccine supplier to key U.N. affiliates like UNICEF and PAHO.Eupenta, develop
Feb. 11, 2016
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Daewoo E&C wins $480 mln deal to build bridge in India
Daewoo Engineering & Construction Co., a major Korean builder, said Thursday that it has won a deal to construct a bridge in India for $480 million.The contract signed with Bihar State Road Development Corp., a local state-run company, calls for Daewoo E&C to build a 22.76-kilometer six-lane bridge that will run across the Ganges. Daewoo E&C said it will jointly carry out the contract with L&T, India's largest builder. Other information, such as when the construction will start, is not available
Feb. 11, 2016