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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Airport, airlines blasted over blizzard
SEOUL/JEJUDO ISLAND -- A nearly three-day airport shutdown on the southern resort island of Jejudo due to heavy snowfall and strong winds ended Monday afternoon, with mounting questions over a lackadaisical response by the airport authorities and air carriers that failed to minimize customer inconvenience at times of natural disasters. Travelers wait on the floor at Jeju International Airport`s passenger terminal early Monday. (Yonhap)As of 2:48 p.m., air carriers had started to transport passe
Jan. 25, 2016
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Dongbu Steel sale delayed due to lack of buyers
The sale of Dongbu Steel, the faltering steelmaking affiliate of South Korea’s Dongbu Group, is expected to be delayed as no visible candidates have emerged for the takeover deal. Both POSCO and Hyundai Steel -- who were widely expected to bid -- have recently backed out, and its main creditor Korea Development Bank is facing difficulties in finding a suitable buyer. KDB, in charge of the sale alongside Nomura Securities, has reportedly contacted companies overseas, including in China, without v
Jan. 25, 2016
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Samsung SDI's net loss widened in Q4
Samsung SDI Co., the battery-making unit of Samsung Group, said Monday its net loss widened in the fourth quarter of 2015 from a year earlier.The net loss came to 231.3 billion won (US$194 million) in the October-December period, worsening from the net loss of 128.8 billion won posted a year earlier, Samsung SDI said in a regulatory filing, without giving reasons for the on-year fall.It was also a sharp turnaround from a net profit of 502.4 billion won in the third quarter. The on-quarter drop w
Jan. 25, 2016
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Samsung sees no immediate impact from Haier's takeover of GE unit
Samsung Electronics Co. said Monday that Chinese home appliance maker Haier Group's takeover of the household appliance business of U.S.-based General Electric will not have a great impact on its performance over the short term.In mid-January, Haier said it will purchase GE's home appliance business for $5.4 billion, with the takeover expected to be finalized around the first half of 2016. Haier, China's second-largest electronics manufacturer, reportedly said that it will maintain the GE brand
Jan. 25, 2016
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CKD Pharm, Zafgen may resume clinical trials of obesity treatment
A treatment for a rare obesity treatment, originally developed by South Korea’s Chong Kun Dang Pharmaceutical and licensed to Zafgen in 2009, is geared to fully resume clinical trials in the near future.Zafgen, a U.S. biopharmaceutical company, said last week that beloranib has shown proven effectiveness in reducing body weight in a final-stage clinical study which was temporarily halted by the U.S. Food and Drug Administration last year.The FDA took the decision after the company confirmed the
Jan. 25, 2016
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[Photo News] Philips launches new aqua vacuum cleaner
PHILIPS LAUNCHES AQUA VACUUM CLEANER -- Philips Korea launched the PowerPro Aqua (FC6401/01), a cordless vacuum cleaner equipped with both vacuuming and mopping features for heightened cleaning convenience, in South Korea on Monday. Priced at 369,000 won ($310), the PowerPro Aqua is available for purchase through local online retailers. Promotional discounts of up to 70,000 won are available throughout February. For more information, visit the Philips Korea website or its Facebook page. (Philips
Jan. 25, 2016
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Samsung SDI to split chemical unit for Lotte merger
Samsung SDI Co., the battery and chemical arm of South Korea's top conglomerate Samsung Group, decided Monday to spin off the chemical business in the runup to its handover to Lotte Group.In an emergency meeting, shareholders of Samsung SDI agreed to establish the entity, tentatively named SDI Chemical, next month and eventually sell its 90 percent stake to Lotte Chemical Corp. by the end of the first half.In October, Samsung Group agreed to sell its chemical assets to Lotte Group for about 3 tr
Jan. 25, 2016
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S. Korea’s ICT exports slipped on weak demand
South Korea’s exports of information communication technology products dropped 1.9 percent in 2015 from a year earlier on slow global demand, government data showed Monday. A worker makes an examination at a local semiconductor factor. (Yonhap)Outbound shipments of ICT products hit $172.89 billion in 2015, compared to $176.23 billion in the year before, according to data compiled by the Ministry of Trade, Industry and Energy.This marked the first on-year decline since 2012 when it fell 0.9 perce
Jan. 25, 2016
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Hyundai, Kia’s hit models logged robust sales in 2015
More than a dozen of the best-selling models produced by Hyundai Motor Group, the world’s fifth-largest automotive group, showed robust global sales in 2015, data showed Monday. Hyundai’s Accent compact vehicle. (Yonhap)A total of 19 models released by Hyundai Motor and its sister company Kia Motors logged sales exceeding 100,000 units last year in six nations, including the United States, China, India, Brazil and Russia, according to the data compiled by the Korea International Trade Associati
Jan. 25, 2016
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Hybrid car sales in Korea peaked in 2015
A record-breaking number of hybrid cars were sold in South Korea in 2015, according to industry data Monday. Hyundai Motor‘s Ioniq hybrid (Yonhap)Sales of hybrid cars in the country reached 38,978 units in 2015, up 7 percent from a year earlier, according to the data compiled by the Korea Automobile Manufacturers Association and Korea Automobile Importers and Distributors Association.The figure broke the previous record of 38,343 units logged in 2012. In 2008, South Korea’s market for hybrid ca
Jan. 25, 2016
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Chicken soup exports grew for first time in 4 years
Korean traditional ginseng chicken soup -- samgyetang -- showed positive growth for the first time in four years in 2015, according to data from a local trade association Monday. A dish of samgyetang. (Yonhap)Outbound shipments of samgyetang stood at 2,196 tons worth $9.85 million in 2015, up 27.8 percent from a year ago, said the Korea International Trade Association. Overseas samgyetang sales peaked at 2,888 tons in 2011 before steadily decreasing from 2012 to 2014 due to slipping sales in Jap
Jan. 25, 2016
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Hanwha invites Chinese social media stars to new duty-free store
Hanwha Galleria, the retail business arm of Hanwha Group, has ramped up its online marketing efforts to lure more Chinese tourists to its new urban duty-free store located in the iconic 63 building of Yeouido, southwestern Seoul. The Galleria Duty Free 63, Hanwha’s first duty-free store, opened on Dec. 28. Hanwha said Sunday it invited 20 Chinese SNS stars, so-called “content creators” whose online videos are shared across Chinese social media and online networking platforms, to its duty-free
Jan. 24, 2016
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Big Bang members invest W3.6b in YG affiliates
Two members of Big Bang, one of South Korea’s most popular K-pop boy groups, are set to become shareholders of two subsidiaries of their agency YG Entertainment by investing around 3.6 billion won ($3 million). YG Plus, a YG affiliate listed on Korea’s secondary bourse KOSDAQ, revealed in a regulatory filing last Friday that it will issue 845,588 shares to G-Dragon and 110,294 shares to Taeyang -- for 2,720 won per share -- as part of its capital raising efforts. YG Plus announced the same day
Jan. 24, 2016
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[Photo News] Lotte sponsors 2018 Winter Olympics
LOTTE SPONSORSHIP FOR WINTER OLYMPICS -- Lotte Group chairman Shin Dong-bin (right), who also leads the Korea Ski Association, talks with the South Korean Olympics alpine skiing team during the opening ceremony of the Jeongson Alpine Center in Gangwon Province on Saturday. Lotte plans to give 5 billion won ($4.17 million) in sponsorship to a set of test events scheduled to kick off at the center starting with the International Ski Federation’s Alpine World Ski Championships on Feb. 6. (Lotte Gro
Jan. 24, 2016
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[Photo News] SK Chemical holds blood donation event
SK CHEM’S BLOOD DONATION — SK Chemical holds a blood donation event at the company’s Eco Lab in Seongnam, Gyeonggi Province, on Sunday. Some 140 employees at SK Chemical and its affiliates reportedly took part in the event. The collected blood will be delivered to the Korean Red Cross. (SK Chemical)
Jan. 24, 2016
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Korean goods' presence in Iran falls amid rise of China
South Korean products' market presence in Iran has fallen over the past few years despite increased exports volume, data showed Sunday, due to China increasing its sales at a faster pace.According to the data compiled by the state-run Korea Trade-Investment Promotion Agency , South Korea's exports to Iran reached $4.14 billion in 2014, up 8.3 percent on-year. South Korea's share in Iran's imports, however, fell 0.5 percentage point over the cited period to 7.9 percent.China, on the other hand, e
Jan. 24, 2016
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FTC probes VW over clean diesel ads
The nation’s antitrust watchdog has launched a full-scale investigation upon suspicions that Volkswagen Korea ran false advertisements about vehicles for which it had rigged emissions tests, officials said Friday. The probe is expected to strike a blow to the Korean unit of the German carmaker, which is already facing a separate criminal probe and a series of class action suits both in local and U.S. courts.The Fair Trade Commission is zeroing in on speculation that the carmaker claimed to have
Jan. 22, 2016
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[Photo News] Hanwha Group scions in Davos
Hanwha Q Cells chief strategy officer Kim Dong-kwan (right) shakes hands with Zhao Haishan (center), vice mayor of Tianjin, China, and Hanwha Life Insurance digital team leader Kim Dong-won during the 2016 World Economic Forum at Davos of Switzerland on Wednesday. Hanwha established a joint venture in Tianjin last year. The two sons of Hanwha Group chairman Kim Seung-youn met global leaders, discussed renewable energy and promoted the company businesses at the forum. (Hanwha Group)
Jan. 22, 2016
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Antitrust watchdog probes VW over clean diesel ads
(AP-Yonhap)The nation’s antitrust watchdog has launched a full-scale investigation upon suspicions that Volkswagen Korea ran false advertisements about vehicles for which it had rigged emissions tests, officials said Friday. The probe is expected to strike a blow to the Korean unit of the German carmaker, which is already facing a separate criminal probe and a series of class action suits both in local and U.S. courts.The Fair Trade Commission is zeroing in on speculation that the carmaker claim
Jan. 22, 2016
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LS chairman's furniture philanthrophy
LS Group chairman Koo Ja-yeol (center) works with new employees to assemble a bookshelf at the conglomerate’s training institute in Anseong, Gyeonggi Province, Thursday. The group donated 60 bookshelves it put together along with 600 books to nearby welfare centers. (LS Group)
Jan. 22, 2016