Most Popular
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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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Ex-president's daughter investigated for drunk driving accident
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S. Korea, Singapore seal supply chain agreement
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Netflix, streaming platforms come under fire for loose ratings
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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20 minors registered as CEOs making over 100 million won
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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Korean language teaching expert says demand has outstripped supply
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Philip Morris unveils first superslim Parliament
Philip Morris Korea announced Thursday that it had released Parliament Hybrid Superslim 1 milligram, the brand’s first superslim cigarette.The product contains superslim capsules and is a follow-up of Parliament’s Hybrid 2-in-1 5 mg, the current market leader in king-size capsules.Through Parliament’s signature recessed filters, it initially offers a smooth and elegant taste, and then a refreshing, cool taste post-capsule break, according to the company.Parliament has been periodically expanding
April 17, 2014
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JTI Korea launches new superslim cigarettes
Japan Tobacco International Korea, the local unit of the Japanese tobacco manufacturer, announced Thursday that it has launched MEVIUS LSS EVO3, its newest superslim cigarettes.With this latest addition to the MEVIUS lineup, the company hopes to lead the market for superslim cigarettes.The new product utilizes Less Smoke Smell technology, JTI’s innovation in reducing the smell of smoke, while providing smokers with both a rich and smooth flavor, the company said.Although the company has introduc
April 17, 2014
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FTC-imposed fines shrink in 2013 despite growing number of penalties
The total amount of fines imposed by South Korea’s corporate watchdog shrank from a year earlier in 2013 despite a rise in the number of cases involved, a report showed Thursday.According to an annual statistical report from the Fair Trade Commission, the number of cases that resulted in fines reached 90 last year, up 8.4 percent from the previous year.The amount of the fines imposed, however, was 18.1 percent lower at 418.4 billion won ($403.3 million), from 511 billion won in 2012.The commissi
April 17, 2014
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GE Healthcare steps up marketing in aging Korea
Korea’s rapidly aging population is expected to bolster GE Healthcare’s presence here despite the currently sluggish performance of the domestic healthcare device market, according to a senior GE executive Monday. “Reimbursement (of the national health insurance and other welfare systems) comes up and down but the largest trick is that Korea is the fastest-aging society,” said Steve Gray, president and CEO of molecular imaging and computed tomography at General Electric. According to the U.S. C
April 17, 2014
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Hanjin Group chief promotes Korea-France relationship
Hanjin Group chairman Cho Yang-ho visited Paris on Wednesday to attend the first meeting of organizers of the “2015-2016 Korea-France Year” event celebrating the 130th anniversary of diplomatic ties between the two countries in 2016. Cho, the Korean head of the organizing committee, discussed diverse issues regarding the planned event together with his French counterpart Henri Loyrette, former director of Louvre Museum, and other government officials from the two countries. “We hope to serve a b
April 17, 2014
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Hyundai Rotem preferred bidder for $1.4b Ivorian railroad project
An international consortium, including the Korean train maker Hyundai Rotem, has recently been named the sole preferred bidder for building a 1 billion euro ($1.4 billion) railway in Abidjan, the capital city of Ivory Coast, company officials confirmed Wednesday.On Friday, the Ivorian transport ministry signed an initial agreement for the railway project together with the consortium, also including France’s Bouygues and Korea’s Dongsan Engineering.“We have more things to discuss, including share
April 16, 2014
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Large firms demand too much info from job seekers: survey
Large businesses in South Korea demand too much information from job applicants that violate privacy and can be used for discriminatory purposes, such as their religions, marital status and the academic backgrounds of their parents, a survey showed Wednesday.A team of four college students came up with the results after examining the job application forms of 95 large companies since February, the presidential committee on youth affairs said. The students are members of a policy recommendation te
April 16, 2014
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Hyundai Motor kicks off grassland development project in China
Hyundai Motor Co., South Korea's No. 1 carmaker, said Wednesday that it will kick off a massive grassland development project in China as part of its effort to preserve the environment and reduce the frequency of sand storms that periodically blow into South Korea. The company, which sold 440,150 vehicles in China in the first quarter of this year, said the "Hyundai Green Zone" calls for the creation of pastures in an area covering 40 million square meters.The project also envisages hiring p
April 16, 2014
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Large firms demand too much info from job seekers: survey
Large businesses in South Korea demand too much information from job applicants that violate privacy and can be used for discriminatory purposes, such as their religions, marital status and the academic backgrounds of their parents, a survey showed Wednesday.A team of four college students came up with the results after examining the job application forms of 95 large companies since February, the presidential committee on youth affairs said. The students are members of a policy recommendation te
April 16, 2014
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GS E&C wins $5.35m Venezuelan plant supervision contract
GS E&C, one of South Korea’s leading builders, said Tuesday that it won a $5.35 million contract to supervise the expansion of an oil refinery plant in Venezuela.The company said it would serve as the project management company to check the engineering, procurement and construction process of the work at El Palito Refinery. The refinery is located some 140 kilometers west of Caracas.It said while the total value of the contract is not large, it marks the first time that a South Korean company ha
April 15, 2014
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Korean Air to resume Incheon-Irkutsk flights in May
Korea’s top carrier Korean Air said Tuesday that it would resume its flights between Incheon International Airport and Russian Siberia’s Irkutsk in May. The first flight of the year on the route will be made on May 19 with twice-weekly services scheduled until Oct. 25, Korean Air said. Flights will run Mondays and Fridays with the twin-engined B737-900ER jet, which can seat up to 159 passengers.The local carrier has offered regular flights to Irkutsk since June 2011. However, services are only o
April 15, 2014
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Games lead Korea’s cultural exports
South Korea’s games exports in 2012 came to $2.6 billion, more than half of the country’s export of cultural products, far outdoing K-pop, a report showed Monday.The country’s export of computer and mobile games accounted for 57 percent of South Korea’s overseas shipment of cultural goods, which came to $4.6 billion in 2012, the report by the state-run Korea Finance Corporation showed.The figure was also 11 times the $235 million brought in from exports of music-related content over the cited pe
April 14, 2014
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Sales of gadgets to slow: report
The global sales of smartphones, tablets, personal computers and video game consoles are expected to slow down starting this year as consumers are less eager to snatch up new products, according to a recent report published by Deloitte. This year, the worldwide sales of these five items are expected to reach $750 billion, stalling at around $800 billion for the next five years.This compares with the dramatic double-digit growth of the past decade, the report said. By sector, the smartphone marke
April 14, 2014
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Conglomerate Eland vows to develop popular soccer team
Eland on Monday expressed its ambition to create a Seoul-based soccer club.“We will try to put together the most popular football club in the nation,” said Park Sung-kyung, the company’s vice chairwoman, during a press conference held to showcase Eland’s hopes and vision for the new club.“Win-loss records are important,” said Park, who will double as the owner of the football club yet to be named. “But our primary goal is to be the team that can bring joy to fans.”She also said she hopes for the
April 14, 2014
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Korean Air, Asiana Airlines bet big on Paris routes
The nation’s two top airlines ― Korean Air and Asiana Airlines ― are pouring more resources into the lucrative Incheon-Paris route with the aim of appealing to high-spending travelers, and more importantly, to restore profit.Paris is one of the most favored destinations for Korean air travelers. In 2013, the occupancy rate of the Incheon-Paris routes was 79.3 percent, higher than for the European gateways Frankfurt (78.8 percent) and London (75.6 percent). As Korea and France recently agreed to
April 14, 2014
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South Korean companies ink $12b clean fuel project in Kuwait
South Korea‘s leading builders said Monday they sealed a $12 billion package deal to upgrade and set up the latest oil refinery and petrochemical facilities in Kuwait.The Clean Fuel Project, ordered by the Kuwait National Petroleum Co., calls for revamping eco-friendly production systems at the existing Mina Al Ahmadhi (MAA) and Mina Abdullah (MAB) facilities so that sulfur content of petroleum products will fall under 5 percent. The project also includes expanding combined oil refining capabili
April 14, 2014
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[SUPER RICH] Sports stars become ‘superrich’
Global sports stars are becoming another breed of superrich.From jaw-dropping paychecks to endorsements and investment returns, the young, athletic and beautiful are raking in money with their talent and brand image. They are also clever enough to hold onto their assets. The primary source of their income is payroll. Major Leaguer Choo Shin-soo signed with the Texas Rangers for $130 million over seven years, while Ryu Hyun-jin signed a $4.3 million contract this year with the Los Angeles Dodgers
April 14, 2014
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Samsung to make announcement on workers’ leukemia
Samsung Electronics on Monday said it would announce its formal position on the alleged link between deaths and leukemia among its staff and working conditions at its semiconductor plants, after activist groups and a lawmaker urged the company to take action. The bereaved families of the deceased Samsung employees, Rep. Sim Sang-jung of the minor opposition Justice Party and advocacy groups on Wednesday called for Samsung to make an official apology and compensate those affected through the medi
April 14, 2014
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Former Lotte Homeshopping head quizzed over alleged graft
The former head of television-based retailer Lotte Homeshopping Co. was called in by prosecutors Monday to face questioning over suspicions of receiving kickbacks from suppliers.Shin Heon, who headed the retailer from 2008 to 2012, entered the Seoul Central District Prosecutors' Office in southern Seoul around 9 a.m. to undergo questioning as a suspect in the corruption case.Shin, 60, now serves as chief executive of the country's largest department store chain, Lotte Shopping.The summons comes
April 14, 2014
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LG set to lead OLED TV market
LG Electronics, the nation’s second-largest television maker, is expected to have the upper hand in the growing organic light-emitting diode television markets with a higher yield rate and better technology than its rivals, according to market analysts. DisplaySearch’s report said curved TVs are projected to hit 6 million units in 2017 in the global market, a sharp increase from 800,000 units this year. Among them, OLED TVs are set to account for 33 percent, or 2 million units, in 2017 with the
April 13, 2014