Most Popular
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S. Korea, Singapore seal supply chain agreement
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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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Korean language teaching expert says demand has outstripped supply
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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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Conscripting women to lead to 'more babies,' claims military think tank
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K-pop CEOs sidestep key issues at National Assembly audit
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Who is pollster roiling politics with claims of government string-pulling?
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Man killed by fellow hunter who mistook him for wild boar
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DHL to support fashion designers
International logistics company DHL will kick off the “DHL Exported” program to help local designers make it in the international fashion scene. The winner of the program will receive financing for runway shows in New York, London, Milan and Tokyo and present their products in showrooms. DHL will cover all production costs as well as support all logistics, including textile and materials, for the next two seasons. The company, which has been sponsoring Fashion Week events for more than six years
Feb. 18, 2014
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Caffe Bene opens store in Manhattan
Local coffee shop chain Caffe Bene opened a branch in Union Square in Manhattan, New York, on Feb. 12. This is the first Caffe Bene store in the fashionable Manhattan district. The Caffe Bene Union Square shop offers taro, Thai, milk, pumpkin and red velvet bubble teas to target young customers. This is the chain’s ninth store in the U.S. Headquarters said it has opened a total of four new stores in Mongolia, Taiwan, Indonesia and the Philippines earlier this year. There are a total of 917 store
Feb. 18, 2014
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Starbucks releases ‘cherry blossom’ products
Starbucks Korea has released “cherry blossom” sets composed of beverages, mugs, tumblers, snacks and cards, using the flower as a theme. Introduced in Korea for the first time, the cherry blossom latte and cherry blossom white chocolates offer the taste and aroma of the spring flower. The latte and chocolate have a pink chocolate in the shape of a cherry blossom on top. Those who purchase any of the 21 cherry blossom products can get a free size upgrade on a cherry blossom beverage. “Cranberry a
Feb. 18, 2014
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Hyundai Elevator to expand overseas presence
Hyundai Elevator Co., South Korea's largest lift producer, said Tuesday it will expand its overseas presence as part of its ongoing efforts to increase exports and sales.The company, which accounted for 45.3 percent of all new lifts installed in buildings in the country last year, said it secured a 100 percent stake in its Shanghai Hyundai Elevator Co. affiliate, giving it a firm market presence in the world's biggest elevator market.The Chinese market is estimated to be worth 500,000 units a ye
Feb. 18, 2014
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Lotte-Zara marriage turns sour
Lotte Department Store has recently kicked out international fashion giant Zara from one of its stores, hinting at the end of the retailer’s honeymoon with the Spanish brand. It also suggests that the partnership between the country’s fifth-largest business conglomerate and Zara is at a crossroads, after Zara’s lackluster sales failed to impress Lotte’s management, industry watchers said. In late January, a branch of Zara ― the flagship chain store of the Industria de Diseno Textil group ― the w
Feb. 17, 2014
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Korea, China, Japan to hold free trade talks
South Korea, China and Japan will hold a fourth round of negotiations this week aimed at forging a trilateral free trade agreement, a Seoul diplomat said Monday, despite a diplomatic impasse over Tokyo's nationalist moves regarding historical and territorial issues. The three Northeast Asian nations kicked off formal negotiations earlier last year and have held three rounds of talks since, with Seoul officials describing the third round as being "productive." "The fourth round of Korea-China-Jap
Feb. 17, 2014
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Daewoo E&C’s overseas orders exceed $50 billion
Daewoo Engineering and Construction, one of Korea’s leading builders, obtained a $1.14 billion contract for Kuwait’s clean fuel project last week to bring its total accumulated overseas orders to $50.6 billion, the company announced on Monday.Daewoo has become the second builder in Korea to break the $50 billion mark in contracts abroad, according to the company. This was accomplished with some 423 orders Daewoo has attracted from 47 countries. The African region accounts for $26.3 billion, or 5
Feb. 17, 2014
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Top 10 conglomerates suffer 5.3% fall in market cap this year
South Korea’s top 10 conglomerates saw their stock market cap sink 5.32 percent this year, as most affiliated firms suffered a decline in their share prices amid a bearish run on the local stock market, data showed on Monday.The combined market capitalization of affiliates under their wings stood at 693.86 trillion won ($653 billion) as of Wednesday, compared with 732.84 trillion won at the end of last year, according to the data compiled by the Korea Exchange.The decline was largely attributed
Feb. 17, 2014
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[Photo News] It's a kind of magic
Feb. 17, 2014
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Vision K&C to open exclusive distribution store in China
Vision K&C, a local trading company, said Monday that it formed a partnership with a Chinese distributor to open the first-ever store dedicated to selling South Korean goods in China.The medium-size trader, which aligned itself with Tianyuan International Logistics, one of the top five logistics companies in China, said it will launch the four-story complex in Shandong province in June.Under the deal reached with Tianyuan, the South Korean firm will be able to operate the store covering 9,900 sq
Feb. 17, 2014
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Toyota to be fined for violating safety requirements: official
Japanese automaker Toyota Motor Corp. is likely to be fined for violating a safety requirement and recall cars of its leading popular models, a government official said Monday.According to Yoon Jin-hwan, the head of the transport ministry's motor vehicles management division, the Japanese automaker has agreed to recall 5,232 vehicles of six models starting on March 27 for substandard materials surrounding seat heaters that can catch fire. "The automaker will also be fined as it failed to meet sa
Feb. 17, 2014
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Samsung files defamation suit against Dyson
Samsung Electronics, the nation’s largest electronic goods maker, filed a lawsuit for libel against Dyson, a U.K. vacuum cleaner manufacturer, claiming that the British company tarnished its reputation, according to industry sources on Sunday. Samsung took the case to the Seoul Central District Court on Friday.The move came after Dyson withdrew its patent infringement lawsuit against Samsung. The compensation claimed is estimated to be 10 billion won ($9.4 million), based on Samsung’s brand valu
Feb. 16, 2014
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Hanjin moves forward $1b L.A. hotel project
Hanjin Group, which owns the nation’s flag carrier Korean Air, said Sunday that it began reconstructing its Wilshire Grand Hotel in downtown Los Angeles with the world’s largest concrete pour during the weekend.The 73-story premium hotel, scheduled to open in 2017 and costing $1 billion to build, will become a city landmark as the tallest building in the city and the eighth-tallest in the United States.On Saturday, about 42,930 tons of concrete was dumped into the building’s foundation in one co
Feb. 16, 2014
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Siemens recruits college students for CSR program
Siemens Korea said it would recruit a group of supporters composed of college students for its social contribution program “Green Science School.’’ In collaboration with Dong-A Science and Kids & Future, a social welfare foundation, the Green Science School, to be launched in March, is designed to inform children about the importance of environmental challenges and to educate them about the environment and science.The new corporate citizenship program will be fully financed by Ai SaRang KiKeum,
Feb. 16, 2014
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[Photo News] Global talent search
Feb. 16, 2014
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[Photo News] Kumho-Yokohama alliance
Feb. 16, 2014
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S. Korean firm secures W14.2b engineering order in Bangladesh
A South Korean firm secured a 14.2 billion won ($13.4 million) engineering project in Bangladesh being undertaken by the Asian Development Bank, a state-run trade promoter agency said Sunday.Seoul-based Kunwha Engineering and Consulting company was awarded the contract last week that is part of the South Asia Subregional Economic Cooperation program being pursued by the international development finance institution.Korea Trade-Investment Promotion Agency said that the size of the deal is not sma
Feb. 16, 2014
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[Weekender] Luxury refashioned
In the 1990s, the nation’s surging middle class wanted to show off its wealth and started indulging in foreign luxury brands. These were the years when Louis Vuitton’s Speedy tote earned the nickname “3-second bag” for being almost ubiquitous on Seoul streets. “Unlike in other countries where ‘It Bags’ are enjoyed mostly within the fashion community, they became a national fever in Korea at the time,” said Lee Ji-hyun, a fashion magazine editor. After two decades, Korean shoppers’ expensive tast
Feb. 14, 2014
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[Weekender] Classic designer brands make room for ‘swag-fake’
The fashion industry has long been dominated by a black-and-white theory that only genuine articles from classic designer brands have value. Anything that’s a knockoff ― a “fake” ― was immediately dismissed as low-class. This obsession with authentic designer products, however, was accompanied by a sense of snobbery, and those who found this repellent have gone the other way to advocate fakes and copycats. The popularity of imitation brands in Korea has become such that people no longer seem to
Feb. 14, 2014
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Samsung Electronics to provide telematics service to Tata Motors
Samsung Electronics will provide Tata Motors with infotainment programs as its first step into the smart car business. Samsung recently agreed to provide the Drive Link service, its comprehensive telematics software linking drivers’ smartphones and cars to amplify the vehicle’s entertainment functions, according to Tata.The application service includes “Text to Speech” that can read text messages, emails and weather forecasts, as well as look at schedules synchronized with drivers’ smartphone an
Feb. 14, 2014