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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Yoon honors veterans of Korean War in trip to Philippines
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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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Hyundai Motor's sales in BRIMs market hit record high in 2015
Hyundai Motor Co., South Korea's leading carmaker, saw its sales in Brazil and three other emerging countries hit an all-time high last year despite overall weak demand, industry data showed Saturday.According to the data by automotive associations in each nation, Hyundai Motor's sales in those markets, which also include Russia, India and Mexico, came to 868,117 units last year, up 3.3 percent from a year earlier. The growth rate far outshone the 13.8 percent on-year decline in auto sales talli
Jan. 31, 2016
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Korean manufacturing losing steam
The 2015 corporate earnings this week showed that the manufacturing industry, once the backbone of the nation’s exports-driven economic growth, is losing steam at a fast pace. The nation’s top two manufacturers -- Samsung Electronics and Hyundai Motor -- recorded a double digit year-on-year fall in their net profit last year, squeezed by falling demand in major overseas markets and growing competition from cheap rival products. Samsung Electronics and Hyundai Motor announced a 19 percent and a 1
Jan. 30, 2016
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Hanwha tours Europe with scientific youths
Hanwha Group is continuing its commitment to nurturing future Nobel Prize candidates with scientific talent through its social outreach program. The group said Friday that it had invited 10 finalists of last year’s Hanwha Science Challenge, an annual competition between local scientific prodigies organized by the group, to a tour of advanced scientific institutions in Europe. Science Challenge finalists tour Hanwha Q CELL research center in Germany. (Hanwha Group)The Hanwha Science Challenge, l
Jan. 29, 2016
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Wife of SK Group founder dies at 89
Roh Soon-ai, the wife of late SK Group founder Choi Jong-kun, died in Seoul on Thursday evening. She was 89.The late Roh is remembered for having been a close supporter of the late SK Group founder, a bold businessman who acquired a derelict factory in 1953 and established Sunkyong Textiles, which later became today’s SK Group.South Korea’s third-largest conglomerate, SK Group is considered a global leader in the energy, chemicals and semiconductors businesses with more than 80 affiliates.Roh So
Jan. 29, 2016
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Samsung to offer rewards to subcontractors
Samsung Electronics said Friday it would offer some 18.1 billion won ($14.9 million) worth of incentives to employees at its subcontractors in the chip segment. (Yonhap)The South Korean tech giant said the incentives would be given in the form of rewards to 10,000 workers at around 100 subcontract firms that complied with safety regulations. The amount reflects a 27 percent rise from the 14.2 billion won the company handed out six months earlier.Samsung first began the incentive program in 2013
Jan. 29, 2016
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Hyundai, Kia sales in Australia hit all-time highs
South Korea’s leading carmaker Hyundai Motor and its smaller affiliate Kia Motors saw their Australian sales hit all-time highs in 2015, industry data showed Friday. A Hyundai Motor dealership in Sydney, Australia.(Yonhap)Hyundai Motor sold 102,004 units, while second-ranked Kia Motors sold 33,736 units, according to data provided by Australia’s Federal Chamber of Automotive Industries.The numbers were the largest since the companies entered the Australian market. Hyundai Motor also saw its sale
Jan. 29, 2016
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AmorePacific, Alibaba fight against forgeries
AmorePacific Group senior vice president Kwon Su-jung (right) and Wang Xinghao, senior manager at Alibaba Group, pose after signing a memorandum of understanding on intellectual property protection at Alibaba Group headquarters in Hangzhou, China, on Thursday. The two parties agreed to collaborate on preventing distribution of counterfeit AmorePacific products on Alibaba’ shopping malls including Taobao and T Mall.
Jan. 29, 2016
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Samsung C&T reaps profit even after reflecting potential losses
Samsung C&T, the construction, trading and fashion unit of Samsung Group, on Thursday reported a net profit of 2.6 trillion won ($2 billion) in 2015, despite incurring heavy losses in the fourth quarter.The company posted a net loss of 161.7 billion won in the October-December period ― a steep decline from a net profit of 2.9 trillion won in the previous quarter ― which the company attributed to the merger between Cheil Industries and Samsung C&T to form the new holding company with the same nam
Jan. 29, 2016
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POSCO records net loss for first time
POSCO Group logged its first-ever net loss of 96 billion won ($79.4 million) in 2015, due to weak global demand for steel products and adverse currency movements, group chairman Kwon Oh-joon said in Seoul on Thursday. POSCO chairman Kwon Oh-joon attends an investors‘ forum in Seoul on Thursday. YonhapBased on the consolidated financial statement, the operating profits of the nation’s top steelmaker fell 25 percent to 2.41 trillion won last year from 3.2 trillion won in 2014 mainly due to the pro
Jan. 28, 2016
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After a robust year, KAI vows to expand overseas business
After securing a multibillion-dollar project to produce homegrown fighter jets late last year, the nation’s sole aircraft manufacturer Korea Aerospace Industries said Thursday it would expand its global business, focusing on a U.S. program that plans to buy about 350 trainer aircraft.In a meeting with local investors and market analysts, KAI CEO Ha Sung-yong said it made 2.9 trillion won in sales last year with an operating profit of 28.57 billion won, calling it a record performance since its
Jan. 28, 2016
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Seeking nostalgia in slowing economy
Retro fever is spreading throughout South Korea, driving companies to invoke the past in their marketing efforts. Sparked by a series of TV programs and dramas, the fad has made many consumers recall the times when owning a beeper was cool and going to Mcdonald’s in Apgujeong was a luxury.A collection of snacks that became popular in 1988The 20-episode “Reply 1988” series aired by cable TV channel tvN has been at the center of the retro trend since late last year. The drama revolves around five
Jan. 28, 2016
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McDonald’s introduces customizable gourmet burgers in Busan
McDonald’s Korea rolled out its “Signature Burger” menu in five stores in Busan last week, following the successful launch of the fast-food chain’s premium menu in Seoul and Gyeonggi Province last year. The “Signature Burger” menu allows customers to build their own burgers by choosing from more than 20 ingredients through an instore touch-screen kiosk. Customers can either build burgers from scratch or choose a combination of ingredients recommended by McDonald’s. A server later brings the cust
Jan. 28, 2016
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Nonagon opens pop-up store in Galleria Department Store
Nonagon, a fashion brand co-launched by Samsung C&T’s fashion unit and YG Entertainment, has opened a pop-up store at the Galleria Department Store in Apgujeong, Seoul. It will run until Feb. 11. As part of its 2016 spring and summer collection, Nonagon has launched apparel inspired by military and circus concepts such as motifs from freak shows. Since the pop-up store opened in Galleria last week, Nonagon’s signature goods, which include its bomber jackets and backpacks, have been selling espe
Jan. 28, 2016
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Nike launches Air Force 1 Ultra Flyknit
Nike Sportswear has launched the Air Force 1 Ultra Flynit in South Korea. It is an upgraded rendition of the brand’s iconic Nike Air Force 1 sneakers, which were first launched in 1983 and inspired by basketball and street culture. The new sneakers edition is made with Nike’s breathable lightweight Flyknit material while still retaining its original silhouette. The shoes boast enhanced performance and comfort compared to the original, according to Nike. At around half the weight of the original
Jan. 28, 2016
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Sempio promotes Yondu at 2016 Madrid Fusion food fair
Sempio, a South Korean food company, showcased its natural food additive Yondu at this year’s Madrid Fusion food fair, the company said Thursday. At the event, Sempio featured a variety of European and Korean dishes prepared with Yondu. The fair attracted some 100 chefs from 14 countries, 700 industry officials and 12,300 visitors, according to Sempio. Yondu is a liquid food additive made by fermenting beans. Developed exclusively by Sempio, the 100 percent vegetable-based seasoning is used to e
Jan. 28, 2016
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Organica enters Coffee Bean, Starbucks, E-mart Traders
Organica’s Just Juice Cleanse, a range of all-natural, cold-pressed vegetable- and fruit-based detox juices, is now available for purchase at Starbucks, The Coffee Bean & Tea Leaf and E-mart Traders, the organic food maker said Thursday. Developed exclusively by Organica, a Herald Corp. affiliate and a premium natural foods company, Just Juice Cleanse juices are available in different sizes and unique flavors at each of the two coffee chains and the supermarket. Unlike conventional juices, Orga
Jan. 28, 2016
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KEPCO on prowl for power plant acquisitions
Korea Electric Power Corp. is on the prowl for acquisitions to boost its alternative-energy portfolio. The firm, listed on Korea’s KOSPI and the U.S.’s New York Stock Exchange, said Thursday that it has signed M&A advisory firms in preparation for potential deals in the fields of both alternative energy and conventional fossil-fuel-based power generation. Solar panels (123rf)“We have completed the selection of advisory firms,” the Naju, South Jeolla-based firm said in a regulatory filing in Seo
Jan. 28, 2016
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S-Oil swings to profit in Q4 on high refining margins
S-Oil, South Korea’s third-largest oil refiner, said Thursday it swung to profit in the fourth quarter of 2015 thanks to high refining margins prompted by heightened demand for oil products.The firm posted an operating profit of 17 billion won ($14 million) in the October-December period last year, up by 5.6 percent from the previous quarter, and swung to profit from an operating loss of 240 billion won posted during the fourth quarter of 2014. S-Oil CEO Nasser Al-Mahasher (S-Oil)“The operating
Jan. 28, 2016
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Chinese chemical firm to be listed on Seoul's minor bourse
China Crystal New Material Holdings Co., a synthetic mica manufacturer based in the Cayman Islands, is set to float on South Korea's secondary KOSDAQ market, the Seoul bourse said Wednesday. Its shares will begin trading on Thursday, with its initial price set at 3,000 won ($2.5) per share, the Korea Exchange (KRX) said. It is the first time in four and a half years since a Chinese company has entered the Korean stock market.Investor sentiment toward locally listed Chinese shares remained cold a
Jan. 27, 2016
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Korea losing Chinese tourists to Japan
The number of Chinese visitors coming to South Korea declined last year in contrast to a growing number of travelers heading to Japan, sparking concerns that Korea is losing its place as a population destination for the Chinese. A Chinese tourist enjoys sledding at High1 Resort, Jeongsun in Gangwon Province. (Yonhap)A total of 4.99 million Chinese travelers visited Japan last year, setting a new record, according to reports based on data released by the Japan National Tourism Organization on Wed
Jan. 27, 2016