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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Seoulites celebrate coexistence at Wellness Seoul 2024
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Ex-president's daughter investigated for drunk driving accident
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Yoon honors veterans of Korean War in trip to Philippines
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'Culinary Class Wars' producers deny trying to spice up results
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More firms stand in regulatory blind spot: FTC
South Korea’s antitrust watchdog said Monday that an increasing number of companies occupy a regulatory blind spot that shields the owner families. Owners increased their shares through indirect investment from public corporations and overseas affiliates this year, it said. The Fair Trade Commission said it analyzed the stock ownership of the 64 largest groups and their 2,292 affiliates. Among the groups, the equity held by owner families amounted to 3.6 percent, down 0.3 percentage p
Aug. 31, 2020
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[Monitor] Home transactions in metropolitan areas plunge
Home transactions in Seoul and Gyeonggi Province have plunged over the last three months, after the government introduced strict measures to stabilize real estate prices, including tax hikes and loan regulations, data showed Sunday. The number of apartment transactions in Seoul dropped to 1,923 in August from 15,589 in June, while that of Gyeonggi Province too decreased to 7,117 in August, from 34,899 in June. The housing prices, which the government aimed to rein in, remained flat. As of
Aug. 31, 2020
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SK invites battery biz partner Hyundai to Korea’s largest social value festival
Hyundai Motor Group Executive Vice Chairman Chung Euisun will give a congratulatory speech at this year’s “Social Value Connect,” the largest privately-held social value festival in Korea hosted by SK Group Chairman Chey Tae-won. According to SK Group Sunday, SOVAC 2020 -- which will be held online from Sept. 1 to 24 -- will feature business leaders including Chung, Posco Chairman Choi Jung-woo and Shinhan Financial Group Chairman Cho Yong-byoung giving congratulatory speech
Aug. 30, 2020
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[Photo News] Luxury goods sales surge
Shoppers look at luxury goods at Lotte Department Store in Jamsil, Seoul, in July. Department store sales of luxury brands jumped more than 30 percent last month, although overall sales declined due to the pandemic and the rainy season, government data showed Sunday. Analysts say people spent more of their savings on luxury goods because they were not allowed to travel abroad during the holiday season. (Photo: Yonhap)
Aug. 30, 2020
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Hyundai E&C to start distributing first Hill State apartments in Gyeonggi Province in September
Hyundai Engineering & Construction said Sunday that the company will start distribution of its newly built Hill State apartments in the city of Gwangju, Gyeonggi Province, in early September. The new complex consists of seven 20-story buildings with five basement floors and offers a total of 565 units in five different sizes ranging between 63 and 84 square meters. It is the company‘s first Hill State brand launched in the neighborhood in the vicinity of Samdong Station on the Gye
Aug. 30, 2020
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Hyundai Oilbank files patent application for oil leak detection system
Hyundai Oilbank recently filed a patent application for its new oil leak detection system known as Hyundai Oil Leakage Monitoring Expert System, the company said Sunday. The newly developed system, also known as Holmes, can monitor possible oil leaks through detection sensors designed to keep an eye on fuel dispensers, allowing gas station owners to be updated in real time on mobile devices. Oil leakage at gas stations in downtown areas can lead to soil contamination underneath buildings, and
Aug. 30, 2020
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Korea restricts operations of cafes, restaurants in Seoul metropolitan areas
The government announced stricter social distancing measures Friday to ban food and drink consumption inside of cafes and restaurants in the Seoul metropolitan areas next week in efforts to curb the rapid spread of COVID-19. While the government had considered raising the social distancing rules to the highest Level 3 from the current Level 2 to stem the rapid spread of COVID-19, it decided instead to extend Level 2 measures for another week, with heightened rules. Starting from Sunday, eati
Aug. 28, 2020
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FTC fines Kumho Asiana W32b, reports chairman to prosecutors
South Korea’s antitrust watchdog has decided to impose a fine of 32 billion won ($27 million) on Kumho Asiana Group for unfair internal transactions that aimed at tightening family control over the conglomerate, officials said Thursday. The Fair Trade Commission also reported Chairman Park Sam-koo and two other executives to prosecutors. The FTC said Kumho Asiana Group used the in-flight meal business rights of its flagship affiliate Asiana Airlines to illegally fund struggling Kumho
Aug. 27, 2020
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SK Innovation loses lawsuit against LG Chem
SK Innovation on Thursday lost a compensation lawsuit it filed against LG Chem in Seoul for breaching a patent settlement. The Seoul Central District Court delivered a verdict siding with LG Chem, saying that the patent settlement both companies signed in 2014 is only effective in Korea. It has dismissed SK Innovation’s claim that LG Chem should drop its lawsuits against SK Innovation in the US and pay 500 million won ($42,000) in compensation to SK Innovation and its US subsidiary SK B
Aug. 27, 2020
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Daewoo E&C meets H1 target despite pandemic
Daewoo Engineering & Construction said Thursday it has met its target for the first half of the year owing to new overseas deals. The company won has won orders worth 6.4 trillion won ($5.39 billion) during the first half of the year, racking up 3.949 trillion won in revenue and 202 billion won in operating profit. Compared to the first half of 2019 when domestic orders accounted for more, this year saw Daewoo E&C land orders worth 2.68 trillion won from overseas, including the Train 7
Aug. 27, 2020
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LIG Nex1 allows remote work, first in defense industry
LIG Nex1 said Thursday that it has adopted a remote working system. It is the first company in South Korea’s defense industry to do so. The military electronics and missile manufacturer said it has decided to allow all staff members, except key personnel, to work from home on weekdays in response to the resurgence of the coronavirus. “LIG Nex1 took a preemptive measure after the government raised social distancing rules to Level 2 from Level 1 in Seoul and Gyeonggi Province rec
Aug. 27, 2020
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Nexon cultivates coding hopefuls for ‘4th industrial revolution’
South Korea’s leading game company Nexon has rolled up its sleeves to foster better education on coding for students. Since 2016, the firm has been running the “Nexon Youth Programming Challenge,” an annual coding competition that has attracted more than 17,000 eager students. To help familiarize students with coding, Nexon has used what it knows best: games. Instead of solving textbook coding problems, students are given practical problems that are more relatable. Last y
Aug. 27, 2020
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HDC begins presales of serviced apartments in Sokcho
DC Hyundai Development Co. said Thursday it has begun presales of its new serviced apartments at Sokcho Ipark Suite. With popular holiday spots such as Seoraksan National Park and Sokcho Beach close to the apartments, the company said it plans to build a new KTX station in Sokcho by 2027 to bring Seoul closer, as traveling to Yongsan Station will take some 70 minutes. Located in Joyang-dong in Sokcho-gu, the model house is currently open for the 27-story residential building with tw
Aug. 27, 2020
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[Monitor] No. of newborns in Korea dips to record-low
In the first six months of this year, 142,663 babies were born in South Korea, marking the lowest since the Statistics Korea started compiling related data in 1981. The number of newborns in June dropped to 22,193, down by 7.5 percent from 23,992 in the same month of 2019. The nation’s fertility rate -- average number of children a woman bears in her lifetime -- came to 0.92 last year, down from 0.98 in 2019. Meanwhile, the number of people who died during the first quarter reached
Aug. 27, 2020
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How fungal infection can be treated
Hardened heels, or plantar callus, can turn out to be a fungal infection known as athlete’s foot. Athlete’s foot in the heels is difficult to distinguish from callus, as it does not itch. To the eye, it may appear like any ordinary hardened heel. Dong-A Pharmaceutical said Thursday it released over-the-counter drug Terbinew Gel in time for summer, when such conditions tend to spike. Terbinew Gel is a percolative cream that forms a film on the applied skin surface. By creating thi
Aug. 27, 2020
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Chong Kun Dang releases smaller Itun Q Plus
Not all that is big is good -- and this is especially true of tablets that have to be swallowed to deliver medicine. Chong Kun Dang’s newly launched Itun Q Plus is everything the original Itun Q was -- but it’s been enhanced through downsizing. Itun Q is an over-the-counter herbal medicine for periodontal discomfort that helps keep teeth sturdy and fights gum inflammation. Its active ingredient is titrated extract of the unsaponifiable fraction of corn. According to Chong Kun Da
Aug. 27, 2020
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[Monitor] Employment rate drops nationwide
The employment rate in South Korea dropped in the first half of this year, due to the economic fallout from the coronavirus pandemic, according to Statistics Korea’s data Wednesday. The employment rate for cities went down by 2 percent at 58.3 percent, compared to last year, according to the data. The employment rate for counties also decreased by 0.9 percentage point to 65.9 percent. The jobless rate in Osan, Gyeonggi Province, and Gumi in North Gyeongsang Province reached 5.4 percen
Aug. 27, 2020
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Netflix office in Seoul investigated for suspected tax avoidance
The South Korean office of the global streaming giant Netflix is under investigation for possible tax avoidance, industry sources said Wednesday. The sources said the National Tax Service (NTS) sent officials to Netflix Services Korea's headquarters in Seoul earlier in the day to launch their probe. According to the sources, the NTS suspects Netflix Services Korea paid its US headquarters a large sum of phantom management consulting fees, so that the Seoul office would report a deficit and av
Aug. 26, 2020
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Hyundai Mobis expands EV parts plant in S. Korea
Hyundai Mobis Co., South Korea's biggest auto parts maker, said Wednesday it will invest 36 billion won ($30 million) in expanding its output capacity of electric vehicle components. Hyundai Mobis has already invested more than 300 billion won in EV parts plants in the central city of Chungju -- where it mainly produces core parts for Hyundai Motor Co.'s hydrogen fuel-cell electric vehicles -- and the southeastern industrial city of Ulsan, home to the main plants of its captive buyer Hyundai M
Aug. 26, 2020
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Creditor, HDC discuss 'all possible options' over stalled Asiana deal
The main creditor bank of Asiana Airlines Inc., said Wednesday it has discussed with HDC Hyundai Development Co. all possible options to wrap up the acquisition of the carrier by the builder. Lee Dong-gull, chairman of the state-run Korea Development Bank (KDB), and HDC Chairman Chung Mong-gyu met for a third time to find ways to push forward the stalled deal amid the coronavirus outbreak. "In today's meeting, the KDB and HDC discussed all possible options involving acquisition terms wit
Aug. 26, 2020