Most Popular
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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S. Korea, Singapore seal supply chain agreement
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Korean language teaching expert says demand has outstripped supply
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Conscripting women to lead to 'more babies,' claims military think tank
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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Korea added to key bond index
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Who is pollster roiling politics with claims of government string-pulling?
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Taking away phones during school hours not a human rights violation: watchdog
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Korea launches antidumping probe into Chinese steel
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BAT rolls out new edition of Dunhill LIGHTS
British American Tobacco Korea launched its newest edition of “Dunhill LIGHTS,” the tobacco maker said Monday. Targeting young adults, the upgraded version of Dunhill LIGHTS is 2,700 won ($2.40) a pack and contains 6 milligrams of tar.“Dunhill blend masters came up with a special and unique blend for the new Dunhill LIGHTS using top quality tobacco leaves,” BAT said in a statement, saying the company carried out some 300 quality tests to best reflect young consumers’ taste. Upon the launch, BAT
April 15, 2013
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Ministry to look into safety of Korean airlines
The government announced its plans Monday to launch a comprehensive evaluation of electricity and fire detection systems on all passenger jets operated by Korean flag airlines, following the emergency landing of a Korean Air flight on Sunday. Korean Air, the nation’s largest air carrier, Sunday grounded a Boeing 777 passenger jet from Seoul bound for Los Angeles after a burning smell was detected in the cabin. All 288 passengers and crew members safely disembarked at Japan’s Narita Airport. The
April 15, 2013
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Hyundai Motor sells 2 million Elantras in U.S.
Hyundai Motor Co., South Korea’s top automaker, said Monday that cumulative sales of its compact Elantra in the United States surpassed the 2 million mark since its debut in 1991.The milestone is the latest sign of popularity of the Elantra, called the Avante in South Korea, in the world’s second-largest automotive market.Hyundai Motor has expanded the Elantra lineup in the U.S. in recent years by introducing the i30 and the Avante Coupe, called the Elantra GT and the Elantra Coupe, respectively
April 15, 2013
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FTC imposes antitrust measures on Lotte unit
Korea’s antitrust regulator has imposed corrective measures against a real estate subsidiary of Lotte Group over the retail giant’s recent acquisition of a transportation terminal asset in Incheon.The Fair Trade Commission said Monday that it set preconditions on Lotte Incheon Development’s acquisition of Incheon Terminal and its land that houses a department store of Shinsegae, Lotte’s competitor, in the retail space.The regulator said it would approve the deal only if Lotte sells two of its de
April 15, 2013
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S. Korea’s key export items stung by yen’s weakness: report
South Korea’s major export items such as automobiles bore the brunt of a weaker Japanese yen with their shipments falling in the first two months of the year, a report showed on Monday.According to the report compiled by the Korea International Trade Association (KITA), 24 out of 49 export items which are in direct competition with Japanese goods in overseas markets saw their export growth slow or overseas sales decline in the January-February period compared with a year earlier.Only nine South
April 15, 2013
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[Photo News] Boat trip bonanza
April 14, 2013
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Debate over life extension of old nuke plants revived
A series of breakdowns of the nation’s nuclear power plants have rekindled the debate over whether to shut down old reactors or extend their operation.A top government official fanned the controversy when he hinted at a possible shutdown of another reactor whose design lifetime has expired.“Whether to extend operation of the 30-year-old first reactor at the Wolseong complex will be decided based on the agreement of the public,” said Lee Eun-chul, new head of the nation’s Nuclear Safely and Secur
April 14, 2013
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Korean liquor exports dip on weaker yen
South Korea’s alcoholic beverage exports declined for the second consecutive month in March, largely due to the descent of the Japanese yen amid faltering overseas demand, data showed Sunday. The country’s exports of soju, Korea’s traditional distilled liquor, reached $9.5 million last month, down 11 percent from the previous year, according to the Ministry of Agriculture, Food and Rural Affairs and the beverage industry. The corresponding figure for Korean beers shrank 23.6 percent to $4.4 mill
April 14, 2013
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Kia’s Morning top seller in Q1
Kia Motors’ subcompact Morning ranked as the best selling car in South Korea in the first quarter with more than 23,000 units sold, industry data showed Sunday.Kia sold 23,462 Mornings nationwide in the January-March period, the largest volume among vehicles sold in South Korea, the data showed.Morning, known in many foreign countries as the Picanto, has drawn popularity for its unique exteriors, high quality features and excellent fuel efficiency.Morning was followed by Hyundai Motor’s full-siz
April 14, 2013
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Major firms dither over new facility investment
Lingering economic jitters here and abroad are holding back major conglomerates in South Korea from making new facility investment, as a weaker yen and North Korean risks have aggravated uncertainties, industry sources said Sunday.According to company officials, Samsung Electronics Co., South Korea’s tech giant, has not made a single new facility investment this year. The world’s largest mobile phone maker said it decided not to disclose its investment plan for this year, citing market uncertain
April 14, 2013
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Bark enters second round of competition for top WTO post
Former Trade Minister Bark Tae-ho entered the second-round competition for the post of the World Trade Organization director-general, according to the Ministry of Trade, Industry and Energy.“The WTO announced on Friday that Bark passed the first-round competition for WTO’s top post with four candidates from Indonesia, Mexico, Brazil and New Zealand,” the ministry said. Four of the nine candidates from Jordan, Ghana, Kenya and Costa Rica were dropped in the first round. The WTO will select the f
April 14, 2013
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Executive paychecks average W1.2b
Registered executives at South Korea’s top 20 conglomerates received an average of 1.22 billion won ($1 million) in annual salary in 2012, data showed Friday.CEOSCORE, a Web site that tracks conglomerates as well as financial firms and state-run companies, released the figures based on its analysis of 448 registered executives at 136 non-financial listed companies affiliated with the country’s top 20 business groups.The Web site said 77 out of 136 companies paid 1.3 billion won on average to the
April 12, 2013
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FEZ approves tax break for Hyundai Cummins
South Korea’s free economic zone committee on Friday approved FEZ incentives for Hyundai Cummins Engine Co. that will offer various tax incentives to the joint venture for up to 15 years.Under the decision, the company will be completely exempt from the corporate tax for five years following the start of its business here, and then be given a two-year grace period during which it will have to pay only half of its corporate tax. It will also have its acquisition and property taxes exempt or reduc
April 12, 2013
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French national indicted for share price rigging
A French national has been indicted on charges of manipulating stock prices and inflicting losses of nearly $9 million on hundreds of South Korean investors, prosecutors said Friday.According to the prosecution, the employee at the Hong Kong branch of a French investment bank is accused of rigging the price of a South Korean telecommunications company in June 2008 in a bid to block the early redemption of equity-linked securities sold to local investors.ELS refers to hybrid debt securities whose
April 12, 2013
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Coffeehouse sales up 20 percent
Sales of major coffee franchises operating in South Korea moved up 20 percent in 2012 from a year earlier, while their operating profits dropped due to the rising competition, data showed Friday.The combined sales of the country’s six major coffeehouse chains came to 893.7 billion won ($791.2 million), compared to 743.2 billion won tallied a year earlier, according to the data by the Financial Supervisory Service.Starbucks Coffee Korea Co. posted the largest gain, with its sales advancing 31.1 p
April 12, 2013
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Galaxy Mega unveiled in Europe
Samsung Electronics on Thursday unveiled the new smartphone Galaxy Mega, which features its largest size 6.3-inch display screen, for the European market.The world’s top mobile phone maker said the new addition to the Galaxy smartphone lineup would be rolling out in Europe and Russia beginning next month. However, it has yet to determine whether the model will be available in Korea.According to Samsung officials, the new device, which comes with dual-core mobile processors, combines the portabil
April 12, 2013
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Galaxy S4 to get wireless charging feature
Samsung Electronics Co. is set to add a wireless charging feature to the Galaxy S4, its latest flagship device waiting to be launched later this month, a company official said.The Galaxy S4 is set to use Qi wireless technology, a standard approved by the Wireless Power Consortium for inductive electrical power transfer over distances up to 4 centimeters.Samsung Electronics is a member of the consortium on wireless charging technology, which includes over 100 manufacturers such as South Korea’s L
April 12, 2013
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Kerry underscores alliance at AMCHAM meeting
U.S. Secretary of State John Kerry on Friday underscored the strong partnership between Korea and the U.S. in a rare meeting with the foreign business community to reassure companies that have shown rising concern for the high-strung inter-Korean ties. Adding that President Obama “does not bluff,” he stressed that the U.S. would continue to press for a peaceful resolution to the North Korean situation. Kerry also reiterated Washington’s commitment to talking Beijing into helping resolve Seoul’s
April 12, 2013
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GS Shop to air fee-free programs for small vendors
GS Shop, the nation’s No. 1 home shopping company, said Thursday that it will start airing commission-free programs introducing products made by smaller firms. The decision comes after four local home shopping channels, including GS, and government offices agreed in January on their cooperated efforts to support small- and mid-sized firms.Starting from April 14, GS plans to air a 45-minute program twice a month for selected quality items. No commission fees will be charged and all the profits fr
April 11, 2013
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Hyundai Heavy bags $1.9b order from Chevron
Hyundai Heavy Industries Co, South Korea’s leading shipbuilder, said Thursday that it has clinched a $1.9 billion deal to build an offshore oil production facility for Chevron Corp.Under the deal with the U.S. energy group, Hyundai heavy will build the so-called floating oil production and storage facility which is capable of processing 100,000 barrels of crude oil and 190 cubic meters of natural gas a day, and storing up to 1.05 million barrels of crude oil.The facility, 292 meters long, 57.4 m
April 11, 2013