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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KEPCO to build digitized power substation in Bhutan
Korea Electric Power Corp. on Sunday said that the company will be designing and building a digitized power substation in Bhutan. This is the first export case of a substation engineering, procurement and construction project for the state-run corporation. The KEPCO headquarters in Naju, South Jeolla Province (Yonhap)Under the $25.6-million contract signed by KEPCO CEO Cho Hwan-eik and Bhutan Power Corp. CEO GEM Tshering, KEPCO will replace outdated 220-kilovolt outdoor substations in the south
Jan. 17, 2016
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Businesses hopeful after Iran sanctions lifting
Following the lifting of international sanctions on Iran, Korean companies are expected to rush to explore business opportunities in the resources-rich country, with constructors and oil refineries at the vanguard. The Korean government is also moving swiftly to respond, scrapping Sunday a local rule that forced Koreans to seek prior central bank permission for any financial transaction with Iran. Korea, in September 2010, joined world powers in punishing Iran for its nuclear program, putting ov
Jan. 17, 2016
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Samsung’s Enbrel biosimilar gains European approval
Samsung Bioepis said Sunday it has won official approval from the European Commission to begin selling Benepali, its biosimilar replication of Amgen’s blockbuster rheumatoid arthritis treatment Enbrel (Etanercept), in Europe.The approval marks an important milestone in Samsung Group’s latest push to expand into the promising field of biosimilar production, and elevates the drugmaker’s market value in a forthcoming public listing on the U.S. Nasdaq this year.Benepali is the first Enbrel biosimila
Jan. 17, 2016
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[Weekender] Tackling urban decline
Like many agricultural towns in Korea, Seocheon in South Chungcheong Province was grappling with ways to foster new growth engines and revitalize the local economy a couple of years ago.With its traditional income sources -- farming and fisheries -- dwindling amid the nation’s fast industrialization, the town located some 200 kilometers south of Seoul, had to watch its community falling apart and the children faced with no future. However, instead of attracting new businesses to rejuvenate the r
Jan. 15, 2016
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[Weekender] Careful focus on public need key to urban regeneration
Last month, an elevated road crossing located near Seoul Station officially closed down, signaling the beginning of the Seoul Metropolitan Government’s 23.2 billion won ($18.95 million) project to turn the decades-old structure into a high-rise public park. Led by Seoul City Mayor Park Won-soon, the plan is aimed at transforming the 46-year-old overpass in central Seoul into a pedestrian park by 2017. The mega project is similar to the High Line Park in New York City, a landmark urban renewal ca
Jan. 15, 2016
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Sudan expects S. Korean firms in gold mining: envoy
Sudan hopes for a rush of South Korean companies into its mining industry, the African country's top envoy in Seoul said."(We) expect South Korean firms to participate in gold mining businesses (in Sudan)," Amb. Mohamed Abdelaal said in a recent interview at his office Wednesday.Sudan has plenty of natural resources and produced more than 65 tons of gold last year alone, he noted."The amount is expected to reach 100 tons this year," the ambassador said.He also raised the importance of more excha
Jan. 15, 2016
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Home transactions to weaken in 2016
Residential property transactions this year will likely suffer a large drop due mainly to a base effect, a report said Friday.In a report released by the Korea Center for International Finance and Credit Suisse Group, the number of transactions in South Korea is expected to drop by around 20 percent this year following a record number of transactions in 2015. The report, however, said the fall in home transactions is not likely to be translated into a slump in the real estate market, as the drop
Jan. 15, 2016
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Bad times force Hyundai Rotem to slim down
Hyundai Rotem, a tank and train-making affiliate of Hyundai Motor Group, has launched measures to drastically cut costs amid an industrywide slump, sources said Friday.They include an early retirement scheme that will be introduced for the first time at the company in 10 years. (Hyundai Rotem)Sources close to the matter said Hyundai Rotem will recieve applications until Jan. 22. Up to 1,500 workers will be allowed to seek early retirement. As of June 2015, Hyundai Rotem was employing around 3,70
Jan. 15, 2016
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Korean street food gains recognition in U.K.
Korea’s popular street food delicacies ― including “goldfish” and “soondae” ― are gaining popularity as dessert items in the U.K., CJ Foodville said Friday. Goldfish is a waffle shaped like the eponymous freshwater fish with red bean cream filling, while soondae is black pudding stuffed with crystal noodles and pork.These items are being sold at CJ Foodville’s Korean cuisine restaurant Bibigo in Soho London since late 2012. Located on the Great Marlborough Street, the restaurant sells on average
Jan. 15, 2016
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Korea may seek criminal charges against Volkswagen over data
South Korea could file a criminal complaint against the local unit of Volkswagen with the prosecution unless the German carmaker provides required data and information needed for its planned emissions testing, a government source said Friday.In November, the environment ministry ordered Volkswagen Korea to recall about 125,000 vehicles whose emissions were found to have been faked through the so-called defeat device. It was also asked to submit a recall plan by Jan. 6, including how it would mai
Jan. 15, 2016
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E-commerce boom lifts Parcel delivery market
South Korea’s parcel delivery is set to continue decent growth this year following last year’s stellar performance on the back of a rising demand in online shopping, but tougher competition for fast delivery may eat into operators’ profitability, industry data showed Friday. The volume of parcel services jumped 10.6 percent on-year to 1.81 billion boxes in 2015, and combined sales rose 8.5 percent to 4.34 trillion won ($3.59 billion), the Korea Integrated Logistics Association said.E-commerce ha
Jan. 15, 2016
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Cosmetics tie in with technology for smart consumer marketing
Stepping inside the newly opened Aritaum flagship store near Gangnam Station in Seoul, one will encounter not only an abundance of makeup products, but also several eye-catching devices and service stations located throughout the brightly lit shop. A corner equipped with Iope Bio Lab’s cutting-edge skin evaluation machine offers customers a detailed skin examination and consultation for free while tech-savvy “beauty mirrors” enable visitors to virtually try on diverse Laneige makeup products usi
Jan. 14, 2016
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Tonino Lamborghini to launch in Korea
Tonino Lamborghini, a high-end apparel and accessories brand based on Italian luxury sports carmaker Lamborghini, has officially entered South Korea. Established in 1981 by Tonino Lamborghini, the son of Lamborghini founder Ferruccio Lamborghini, the eponymous merchandising brand sells a range of apparel, bags, watches, shoes and accessories inspired by the automotive designs of the iconic Italian sports car. (Tonino Lamborghini) “We are happy to be able to introduce our brand in Korea, an impor
Jan. 14, 2016
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Samsung heiress ends storied marriage
Ending a long-drawn dramatic episode that captivated the nation, Lee Boo-jin, the eldest daughter of Samsung Group chairman Lee Kun-hee, legally ended her 17-year marriage Thursday. According to Samsung officials, the Seongnam branch of the Suwon District Court ruled in favor of the 46-year-old chaebol scion who filed for divorce from her husband Lim Woo-jae in October 2014. Lee Boo-jin YonhapLee, who heads Samsung affiliate Hotel Shilla, had reportedly fallen out with her 48-year-old husband
Jan. 14, 2016
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Antitrust watchdog to unveil governance structure of Lotte Group
South Korea's antitrust watchdog will disclose information on the cobweb-like ownership structure of retail giant Lotte Group this month following a bitter family fight over control of the country's fifth-largest conglomerate, a source said Thursday.The Lotte Group, the businesses of which range from retail and food to construction and chemicals in both Korea and Japan, is mired in a leadership dispute between group founder Shin Kyuk-ho's two sons -- Dong-joo and Dong-bin -- who had each control
Jan. 14, 2016
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Hyundai Motor aims to sell 30,000 Ioniq hybrids
South Korea’s leading carmaker Hyundai Motor said Thursday it aims to sell up to 30,000 units of its first full-on “green car,” the Ioniq. The company plans to sell 15,000 units each at home and abroad this year. For 2017, it hopes to achieve bottom-line sales of 77,000 units. Equipped with a new Kappa 1.6GDi engine, a high-efficient permanent magnet motor and six-speed dual-clutch transmission developed for hybrid models, the Ioniq can run up to 22.4 kilometers per liter, almost on par with the
Jan. 14, 2016
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Korea's big-data industry grows sharply in 2015
South Korea's market for so-called big data expanded sharply in 2015 from the previous year thanks to increased investment and a greater awareness of the novel area, officials said Thursday.The local big-data market reached 262.3 billion won last year, up 30 percent from 201.3 billion won a year earlier, according to the Ministry of Science, ICT, and Future Planning.Big data refers to the process of using large amounts of information, which could not be utilized in the past due to size, for busi
Jan. 14, 2016
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Huawei Y6 sales hit 20,000 units in S. Korea
Sales of Huawei’s Y6 smartphone hit 20,000 units this week, according to South Korea’s No. 3 mobile carrier LG Uplus Corp. on Thursday. The figures beat market estimates, reflecting the burgeoning demand for budget mobiles, the company said.Caption: Models hold up Huawei‘s Y6 smartphone, released by South Korean carrier LG Uplus. (Yonhap)LG Uplus released the smartphone manufactured by China’s Huawei Technologies. The price was set at 154,000 won ($127), putting the phone in the low-end range. L
Jan. 14, 2016
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Samsung chairman’s eldest daughter ends marriage
Lee Boo-jin, the eldest daughter of Samsung Group owner Lee Kun-hee, on Thursday ended her 17-year marriage. Samsung officials confirmed that the Seongnam branch of the Suwon District Court, located south of Seoul, has accepted the divorce claims filed by the CEO of Hotel Shilla, a Samsung affiliate. Hotel Shilla CEO Lee Boo-jin (Yonhap)Recent news reports have said that the 46-year-old executive has been having marital problems for the past few years. Lee met her ex-husband Im Woo-jae in 1995,
Jan. 14, 2016
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LG Electronics releases lightest laptop with wider screen
LG Electronics Inc. said Thursday it has released a new wider screen laptop that weighs less than 1 kilogram and boasts a strong battery that lasts up to 10.5 hours.South Korea's No. 2 tech giant said the Gram 15 laptop comes with a 15.6-inch display, but weighs only 980 grams, a figure which LG claims is equal to the weight of "two cups of coffee." The size is around 50 percent lighter than other rival models of the same size.LG said the laptop has won an official record as the world's lightest
Jan. 14, 2016