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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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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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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Ex-president's daughter investigated for drunk driving accident
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Seoulites celebrate coexistence at Wellness Seoul 2024
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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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Naver webcomic's monthly active users top 67m in Aug.
The webcomic arm of South Korea's top portal operator, Naver Corp., said Monday that the number of its monthly active users, or MAUs, surpassed 67 million globally last month. Line Webtoon, a global service provided by Naver Webtoon Corp., said its MAUs rose 2 million in August from a month earlier. The company said it brought in over 80 billion won ($65 million) in content transactions last month and expected to reap in 1 trillion won for this year. Naver Webtoon, more commonly known as Lin
Sept. 7, 2020
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[Monitor] Korea achieves largest current account surplus in 9 months
South Korea‘s current account surplus increased to a nine-month high in July as exports fell at a slower pace than imports as major economies started to resume trades after the pandemic lockdowns, according to data by the Bank of Korea. The current account surplus reached $7.45 billion in July, up from $6.88 billion the previous month. The figure was the largest surplus since October 2019, when the country posted a surplus of $7.83 billion. Korea achieved the surplus for the third stra
Sept. 7, 2020
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Korean firms' interim dividends sink over 21% on coronavirus
South Korean listed companies' half-year dividends tumbled more than 20 percent this year on the fallout from the coronavirus pandemic, market data showed Monday. Local listed firms paid out 2.92 trillion won ($2.46 billion) in interim dividends in June, down 21.3 percent from a year earlier, according to the data from market tracker FnGuide. It marks the first time in three years that listed companies' half-year dividends have fallen below the 3 trillion-won mark. Excluding top-cap Samsung E
Sept. 7, 2020
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Samsung bags 8 tr-won equipment supply deal from Verizon
Samsung has been especially trying to expand its 5G equipment customer pool in recent years. In addition to the United States, the company has so far inked 5G equipment contracts in countries like Canada, New Zealand and Japan. Industry insiders said the deal with the top US telecom operator will serve as a reference for Samsung to secure more network solutions orders in other major markets. The US is the world's largest mobile telecommunications market, with its infrastructure spending accoun
Sept. 7, 2020
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Three-fourths of big firms have no or indefinitive hiring plans in H2: poll
Three-fourths of large companies in South Korea have no hiring plan or have not confirmed their recruiting scheme for the second half of the year amid the novel coronavirus pandemic, a poll showed Sunday. Half of the companies that responded to the Korea Economic Research Institute's (KERI) survey answered that they have not set their hiring plans yet, while 24.2 percent of the firms said they will not offer jobs in the second half. The survey, conducted by Research & Research, asked Sou
Sept. 6, 2020
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64% of global enterprises to shake up supply chain: KOTRA
Over 60 percent of international companies have either shaken up their global value chains or have plans to do so amid growing protectionism around the world, the Korea Trade-Investment Promotion Agency said Sunday. A total of 246 companies in fields such as materials, devices and equipment were analyzed by officials at the state-funded trade organization, who looked at their business decisions over the past five years such as relocation, investments, mergers and acquisitions. Changes to globa
Sept. 6, 2020
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Samsung Electronics, Hanssem partner on housing interior
Samsung Electronics said Sunday it has signed a partnership agreement with Hanssem, the country’s leading furniture maker, to seek business opportunities in the home interior remodeling market as consumers pay more atttention to their living spaces amid social distancing efforts. On Friday, the parties inked a memorandum of understanding and agreed to cooperate on expanding their house remodeling business; to explore new business models on retail sales; to develop smart home solutions.
Sept. 6, 2020
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FTC imposes W1b fine on Naver’s real estate service
South Korea‘s Fair Trade Commission on Sunday imposed a fine of over 1 billion won ($842,000) on Naver for predatory real estate practices. According to the antitrust government agency, Naver prevented real estate information businesses that it had ties with from working with Kakao. Naver has violated the Fair Trade Act by progressively extending the scope of its exclusivity contracts with real estate businesses and actively blocking Kakao from entering the market, the FTC said. As a
Sept. 6, 2020
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GBC 2020 to discuss COVID-19 vaccine distribution
Biologics experts and industry officials will discuss accessibility of COVID-19 vaccines at the virtual Global Bio Conference 2020 starting Monday. According to the hosting Ministry of Food and Drug Safety, this year’s GBC is the sixth annual event and the first to open online. The Ministry anticipates participation from some 3,000 audience for the live broadcasts to be delivered by 61 speakers from 18 nations over three days. The number of speakers and partaking countries halved from
Sept. 6, 2020
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Doosan Group to repay debt by selling new shares of Doosan Heavy, other assets
SEOUL (Yonhap) --Cash-squeezed Doosan Group said Friday that it will repay 3 trillion won (US$2.5 billion) in debt to its main creditors by selling new shares of Doosan Heavy Industries & Construction Co. and other affiliates' assets. Doosan Heavy Industries & Construction is to float new shares worth 1.3 trillion won and sell them first to its shareholders and then to the public, the group said in an emailed statement. Earlier, the power plan
Sept. 4, 2020
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[Photo News] Amorepacific Group celebrates 75th anniversary online
Sept. 4, 2020
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LG Wing chosen as name for new dual-display smartphone
LG Electronics has finalized the name of its new dual-display smartphone to be released on Sept. 14 as “LG Wing,” the company confirmed Friday. When choosing the name, LG Electronics reportedly narrowed down its options to LG Wing and LG Swing, but picked the former as consumers have become familiar with the name after months of exposure to the new phone’s codename “Wing.” The price of LG Wing is expected to be approximately 1.5 million won ($1,260), as the ph
Sept. 4, 2020
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NCSoft’s new rhythm game ‘Fuser’ set for release on Nov. 10
NCSoft said Friday its North American subsidiary NC West will release a new rhythm game “Fuser” for both PC and console in North America and Europe on Nov. 10. Fuser is an interactive DJ music game developed by Harmonix -- a US-based video game development company -- and will be published by NC West. Fuser will be available on PC and three major console platforms -- PlayStation 4, Xbox One and Nintendo Switch. In Fuser, players will become music festival DJs, mixing vocals, bas
Sept. 4, 2020
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Diageo Korea appoints Dan Hamilton as new CEO
Diageo Korea said Friday it has appointed Dan Hamilton as a new CEO. According to the world‘s largest distiller and producer of major whisky brands including Johnny Walker and Windsor, Dan Hamilton has become the new CEO starting Friday as his predecessor Robert Rhee, who had led the company since 2018, will leave the business on Oct. 31. After joining Diageo in 2011, Hamilton served several senior leadership and general management roles in India, China, Japan and Europe. As the CEO
Sept. 4, 2020
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Coupang to set up large-scale logistics base in Gwangju
Coupang began procedures for the construction of a large-scale high-tech logistics base in Gwangju in partnership with the regional government, the firm said Friday. Gwangju Mayor Lee Yong-seop and Coupang’s new business division head Park Dae-joon met Friday and signed a business agreement. Under the deal, the firm and Gwangju agreed to establish a mega-sized high-tech logistics center in the region and cooperate to boost the local economy and create jobs. The nation’s leading
Sept. 4, 2020
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[Monitor] Kakao Games’ subscription deposit hits record high in Korea
Kakao Games set new records this week in South Korea’s initial public offering market, with the highest competition rate and the largest subscription deposits. The competition rate for Kakao Games’ IPO subscription surpassed 1,500:1, hitting record highs in Korea’s IPO market. The estimated subscription deposits were 58.5 trillion won ($49.3 billion) as of Wednesday, surpassing the record of 30.8 trillion won recently set by SK Biopharm in June. By Shin Ji-hye (shinjh@her
Sept. 4, 2020
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HMM signs deal to set up JV with Singapore port operator
HMM Co., South Korea's biggest shipping company by sales, said Thursday that it has signed a deal with Singapore port operator PSA International to set up a joint venture. HMM said it will have a 42 percent stake in the HMM-PSA Singapore Terminal while the rest will be held by PSA International. The deal will pave the way for HMM to secure its terminal in Singapore, the world's busiest container transshipment hub. Currently, HMM has seven terminals -- one in South Korea and two each in the U
Sept. 3, 2020
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Smilegate, UNESCO to support children’s education campaign in South Asia
Smilegate said Thursday that it has teamed up with UNESCO to support an education campaign for children in less-developed countries in South Asia. According to the South Korean game company, the Smilegate Foundation’s Hope Studio signed a memorandum of understanding with the Korean National Commission for UNESCO to jointly develop education programs and to support and raise funds to help South Asian countries develop more independent education systems. Hope Studio will first support &
Sept. 3, 2020
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KITA-Asiana Airlines to operate chartered flights to China
Asiana Airlines will operate chartered flights to Chongqing, China, starting Friday in cooperation with the Korea International Trade Association to support small and medium-sized enterprises’ export activities, KITA said Thursday. KITA and Asiana Airlines signed an agreement on the day to operate chartered flights once a week through October. The plane will head to Chongqing, a megacity in southwest China. The first charter flight will depart for Chongqing on Friday with 120 Korean bus
Sept. 3, 2020
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Syntekabio says it found repurposable COVID-19 drug candidates stronger than remdesivir
Syntekabio said Thursday that its COVID-19 combination treatment candidates have displayed therapeutic effects twice as strong as remdesivir in animal tests. These drug candidates have been on the market for over 20 years for other indications. If further clinical tests confirm their therapeutic effects for COVID-19, it would be a matter of time to reposition them, the South Korean bio firm said. Syntekabio said it had selected two drug materials as viable COVID-19 treatment candidates throug
Sept. 3, 2020