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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Yoon set for talks with Marcos in Philippines
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Can Jennie break the K-pop solo artist slump?
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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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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Yoon honors veterans of Korean War in trip to Philippines
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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[KH Explains] Can G-Star level up?
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BAT’s 2020 vision touts ‘less risky’ products
British American Tobacco announced Monday a new corporate strategy for 2020 to present less risky products for customers, while setting a new environment goal, according to BAT Korea. Under the new corporate aim dubbed, “Building a better tomorrow,” the company said it will target establishing 50 million non-combustible product consumers by 2030, to achieve carbon neutrality by 2030 and bring forward its existing 2030 environment targets to 2025. BAT Chief Executive Jack Bowles p
March 30, 2020
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eBay optimizes delivery service with new platform
Leading e-commerce retailer eBay Korea said Monday the company was creating synergies by integrating its independent “Smile delivery” service with its fulfillment platform. The retail giant said Monday its Smile delivery service has been able to benefit both sellers and buyers through its optimized fulfillment platform, which uses the same system as Amazon’s fulfillment services. “Typical fulfillment platforms charge businesses by the size of space allocated for stoc
March 30, 2020
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Korean firms face coronavirus heat in Europe
South Korean companies operating in Europe are reeling from the coronavirus pandemic that has devastated the region, a survey showed Monday. The domestic situation is also dismal, with the business sentiment that gauges the nation’s export outlook hitting the lowest level in 135 months. The Korea International Trade Association surveyed 80 Korean companies doing business in Europe between Wednesday and Friday. According to the survey, 41 companies said the damage was “very ser
March 30, 2020
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McDonald’s reaches out to support COVID-19 heroes
McDonald’s Korea said Monday it has donated 8,000 burgers and coffee cups to subway cleaning staff through Seoul Volunteer Center. The fast-food chain said it delivered 4,000 coupons each for Bic Mac burgers and Americano coffee cups to cleaning and disinfection staff of Seoul Metro Environment and Seoul Metropolitan Rapid Transit Corp., which manage Subway Line No. 1-4 and 5-8, respectively. “Cleaning and disinfection staff are the true unsung heroes as they risk their own safet
March 30, 2020
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Airbnb hosts squeezed by COVID-19, angry at refund policies
In January, Airbnb “Superhost” Diana Jeong quit her job as she was expecting a baby this spring. What she did not expect was a pandemic that would upend her transition to becoming a full-time Airbnb host. The former college lecturer made the decision because she found great satisfaction in providing hospitality to guests, but more importantly she could make a living renting her three-bedroom apartment on the global home-sharing platform. She now finds herself selling used items on
March 30, 2020
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[News Focus] Hanjin to ‘make painstaking self-rescue efforts’
Hanjin Group Chairman Cho Won-tae, who was reelected as executive director of Hanjin KAL over the objections of many, including his own sister, faces the challenge of proving his leadership capabilities by reviving Korean Air at a time when it is devastated by the COVID-19 pandemic amid ongoing management disputes. On Sunday, Cho said in a statement that the firm will “focus all its capabilities” and “make painstaking self-rescue efforts” to overcome the fallout from th
March 29, 2020
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GS Group‘s Huh vows to lead transformation
GS Group is expected to undergo a transformation under the leadership of Huh Tae-soo, who was formally appointed CEO of the group’s holding firm and chairman of the board during a shareholders meeting Friday. Huh Tae-soo, the youngest brother of former GS Group Chairman Huh Chang-soo, has been widely known for his experience in the global market, as well as his emphasis on digital transformation. “Huh Tae-soo is expected to take the leadership role to bring new business models an
March 29, 2020
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Daewoo E&C steps up new growth initiatives
Daewoo Engineering and Construction has invested in a local racing drone startup company, with the prospect of expanding its business portfolio, according to the construction firm on Sunday. Daewoo E&C had previously announced that it would acquire a 30 percent stake in AstroX as part of its “Build Together Startups” program initiated in August last year. The details of financial terms were not disclosed. AstroX is a local drone maker capable of manufacturing vertical takeoff
March 29, 2020
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SK Energy’s new Ulsan facility ready for production
South Korea’s leading oil refinery and gas station operator SK Energy said Sunday it had completed a successful trial run of its desulfurization facility, ready for commercial production. Since 2018, SK Energy has spent 1 trillion won ($820 million) on building the vacuum residue desulfurization facility with a capacity of 40,000 barrels of low-sulfur fuel oil a day to prepare for stringent regulations on ship fuel. The VRDS facility is expected to allow SK Energy to produce more low-
March 29, 2020
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[Newsmaker] Telegram outrage spills over to Korean ‘Lolita’ game characters
Outrage over the Telegram sexual abuse ring is spilling over to children’s online games that depict preadolescent characters in sexualized ways. An online Cheong Wa Dae petition posted Tuesday raised alarm over video games in which characters who physically resemble children wear revealing costumes. This follows the news that at least 58 women and 16 underage girls were sexually abused over several months so the abusers could produce videos and sell them in Telegram chat rooms. &ldqu
March 29, 2020
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LIG Group honorary chairman dies at age 86
LIG Group Honorary Chairman Koo Cha-won died Saturday of a chronic illness, the company said. He was 86. Born in 1935, Koo was the second-generation leader at LIG Group, which was spun off from LG Group in 1999. Koo headed LIG Insurance before selling the country's fourth-largest non-life insurer to KB Financial Group Inc., a major South Korean banking group, in 2015. He also served as honorary chairman of LIG Nex1, a key South Korean defense company. Koo was a younger cousin of LG Group Hon
March 28, 2020
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Samsung, LG, Hyundai close more overseas plants
South Korean firms are shutting down more facilities across the world given the coronavirus spread, according to industry sources Friday. Samsung Electronics has reportedly decided to shut down its home appliance factory in Campinas, Brazil, following the closure of its smartphone plant in Manaus in the country earlier this week. The Campinas facility will be closed for two weeks from Monday through April 12. The shutdown of the Manus plant will also be extended to April 12. LG Electronics
March 27, 2020
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LG Group chief highlights risk management amid virus spread
LG Corp. CEO Koo Kwang-mo, leader of South Korea’s fourth-largest conglomerate, said Friday he will focus on risk management amid the global coronavirus pandemic. At the company’s annual shareholders meeting held at its headquarters in Yeouido, western Seoul, Koo highlighted that LG Group will need to be unshaken by the current risks and rather focus on prioritizing customer value. “Amid the persisting uncertainties triggered by the global coronavirus spread in the busine
March 27, 2020
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Hyundai to suspend plants in Russia and Turkey amid virus woes
Hyundai Motor Co., South Korea's biggest carmaker by sales, said Friday it will halt its plants in Russia and Turkey, the latest in a series of suspensions due to the new coronavirus outbreak. Hyundai's plant in Turkey is set to be closed Friday, and no date has been set for its resumption. Meanwhile, the Hyundai plant in St. Petersburg is set to be shut down from Sunday through April 3, as Russian President Vladimir Putin has declared a nationwide paid holiday next week in a move
March 27, 2020
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Samsung to shutter another Brazil plant over new coronavirus
Samsung Electronics Co. said Friday it will temporarily close another manufacturing plant in Brazil due to the spread of the novel coronavirus. Samsung will suspend operation of its manufacturing plant in Campinas, Sao Paulo, in southeastern Brazil for two weeks from Monday to April 12. The world's largest smartphone maker already shut down its plant in Manaus, Amazonas, in northern Brazil due to the virus crisis. Samsung originally planned to close the Manaus factory from Tuesday to Sunday t
March 27, 2020
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LG Electronics to shutter US washing machine plant over COVID-19
LG Electronics Inc., a major South Korean home appliance maker, said Friday it will temporarily shut down its washing machine plant in the United States for two weeks due to the spread of the novel coronavirus. LG said its plant in Clarksville, Tennessee, will suspend operations from Monday to April 12. The plant produces 100,000 washing machines a month and employs some 600 workers. Like other companies around the globe, LG has been dealing with production disruptions caused by the coronav
March 27, 2020
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Hyundai Motor heir gains W18b through stock buyback
Hyundai Motor Group Executive Vice Chairman Chung Euisun, who recently purchased treasury shares, has seen gains from the stock market recovery as well as the strengthening of his control. The market capitalization of Hyundai Motor and Hyundai Mobis shares totaled 100 billion won ($81 million) as of Thursday, with 49.4 billion won for the automaker and 50.7 billion won for the parts unit. From Thursday last week to Wednesday, Chung bought shares of Hyundai Motor at a price between 68,435 won
March 26, 2020
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Crisis-hit Doosan Heavy to get W1tr in loans from 2 policy lenders
Doosan Heavy Industries & Construction Co. said Thursday that it has opened a 1 trillion-won ($812 million) credit line from two state lenders, a move that could help prevent a possible liquidity crunch caused by the spread of the new coronavirus. The country's largest power equipment maker has signed an agreement with Korea Development Bank (KDB) and Korea Export-Import Bank (Eximbank) for the loans. Doosan Group, the parent of Doosan Heavy, is said to have offered its share holdings and
March 26, 2020
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Hankook Tire aims larger clout in original equipment tires
Hankook Tire, South Korea’s largest tire manufacturer by sales, said Thursday it will ramp up research in the original equipment tire sector. OE tires refer to tires that are equipped with new vehicles coming fresh off production lines. When designing new vehicle models, automakers go through several steps with tire manufacturers to choose or develop tires that best complement their own vehicle models. Hankook Tire is currently offering OE tires and replacement tires for around 320 car
March 26, 2020
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[Photo News] Duty-free hit by coronavirus
The duty-free zone of Incheon International Airport’s Terminal 1 appears quiet Wednesday afternoon. As the industry was hit hard by the sharp drop in outbound travelers due to the spread of the new coronavirus, some of the airport’s duty-free shops couldn’t pay the rent in February. SM Duty Free pays about 3 billion won ($2.4 million) a month in rent and incurs interest of nearly 16 percent per year if it can’t pay on time. (Yonhap)
March 26, 2020