Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Yoon set for talks with Marcos in Philippines
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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Can Jennie break the K-pop solo artist slump?
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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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Firefighters’ 3,000 won meals spark nutrition concerns
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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Next-generation Audi A6 debuts with high hopes
The eighth-generation Audi A6 sedan that was launched recently is expected to boost the German carmaker’s market share and augment its premium brand image here, according to a top Audi Korea executive Tuesday. The new Audi A6 45TFSI Qauttro and its premium version model which were launched on Oct. 23 saw their first upgrade in eight years. “The midsized premium sedan segment sees the fiercest competition in South Korea among imported vehicles. We expect to deliver Audi’s
Oct. 29, 2019
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HHI-DSME merger gets approval in Kazakhstan
Kazakhstan’s competition authority has recently notified its approval of the merger between the world’s two largest shipbuilders, said Hyundai Heavy Industries on Tuesday. According to HHI, the Kazakhstan government approved the tie-up with Daewoo Shipbuilding & Marine Engineering after comprehensively reviewing the definition of related markets and evaluating competition limitations.This is the first approval for the tie-up as the plan is currently undergoing a review in five ot
Oct. 29, 2019
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Samsung SDI Q3 net up slightly on equity gains
Samsung SDI Co., a major battery maker in South Korea, said Tuesday its third-quarter net profit increased slightly due to gains from equity ties with its affiliates. Net profit for the July-September period stood at 217.3 billion won ($186 million), compared with 214 billion won from a year earlier, the company said in a regulatory filing. Sales rose 1.8 percent on-year to 2.56 trillion won in the third quarter, but operating profit plunged 31 percent on-year to 165 billion won in the cite
Oct. 29, 2019
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Duty-free stores join suspension of liquid e-cigs sales
South Korea’s major duty-free store operators including Shilla, Shinsegae and Lotte Duty Free decided to halt sales of liquid e-cigarettes Tuesday, following the government’s earlier warning against the use of the vaping devices over health concerns.Duty-free store operators said they are suspending sales of four types of flavored liquid e-cigs made by US tobacco startup Juul Labs, Siid Tundra made by a local tobacco maker KT&G and seven other kinds from Phix and Viento. The move
Oct. 28, 2019
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Prosecutors demand jail terms for Samsung execs in accounting fraud case
Prosecutors on Monday demanded jail terms of up to four years for Samsung Electronics and Samsung BioLogics executives on suspicion of destroying evidence in relation to allegations of accounting fraud at the country's biggest conglomerate."It is the biggest crime of evidence destruction in the history of South Korea given the number of people, the duration (of the crime) and the number of destroyed documents," prosecutors said in a hearing held at the Seoul Central District Court in s
Oct. 28, 2019
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Mirae Asset Daewoo wins sustainability award
Mirae Asset Daewoo received an award at the 2019 DJSI International Conference last week for appearing on the Dow Jones Sustainability World Index for an eighth consecutive year, the company said Monday.The Dow Jones Sustainability Indices, created in 1999 jointly by S&P Dow Jones and Robeco SAM, acknowledge the most sustainable companies across 61 industries in consideration of economic, environmental and social criteria. The DJSI serve as best-in-class benchmarks for investors, providing i
Oct. 28, 2019
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CJ bets big on dried seaweed as next K-food
South Korean food manufacturer CJ CheilJedang said Monday it is betting on dried seaweed as the next megahit food item for exports, following the popularity of its Bibigo dumplings.The company plans to double its dried seaweed sales by 2023, amid the expanding global market for the product. In recent years, crispy and flavorful seaweed has gained popularity overseas as a healthy snack, full of vitamins and minerals.CJ CheilJedang, which began marketing dried seaweed in 2006 and started exporting
Oct. 28, 2019
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S. Korean brands vulnerable to trademark infringement overseas: KIPO
South Korean brands are increasingly suffering from trademark infringement overseas, especially in Southeast Asia, according to the Korean Intellectual Property Office on Monday.As of July this year, 279 trademarks of Korean firms were acquired by a foreign party, KIPO said, citing data from the Global Brand Database of the World Intellectual Property Organization. The total number of suspected cases came to 1,140 in 62 countries worldwide.Of the total, 594 cases, or 52.1 percent, was in the Sou
Oct. 28, 2019
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South Korea’s top 1,000 firms spent W50tr on R&D last year
South Korea’s largest companies, including Samsung, Hyundai and LG, spent more on research and development and earned more in 2018 compared to the previous year, despite growing concerns about the slowing global economy, according to a local public institute on Monday. According to a new report released by the Korea Institute for Advancement of Technology under the Industry Ministry, the combined investment on research and development of 1,000 companies amounted to 49.7 trillion won ($42.5
Oct. 28, 2019
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Animal worming tablets ineffective as cancer therapy: MFDS
Using fenbendazole, a broad-spectrum drug used by veterinarians against gastrointestinal parasites --administered to sheep, cattle, horses, fish, dogs, cats, rabbits, and seals -- as treatment for cancer patients is inappropriate, the Korean Cancer Association and Ministry of Food and Drug Safety said Monday, citing lack of clinical data to vouch for its safety and efficacy.Fenbendazole’s purported oncological effects became a global sensation after multiple reports from terminal cancer pa
Oct. 28, 2019
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FTC probes Subway for power abuse allegations
South Korea’s antitrust watchdog is probing the US franchise Subway over an allegation that it forced a local franchisee to shut down his shop without a proper reason, said officials and local news reports Sunday. The Fair Trade Commission’s Seoul office recently concluded in its preliminary investigation that the American franchise might have violated the local franchise business law and filed the case to an in-house judging committee.The probe began as one store owner of Subway cha
Oct. 27, 2019
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Korean pharmas flock to CPhI Worldwide 2019
The 30th CPhI Worldwide 2019, the biggest global event of the year for the pharmaceutical industry, is set to take place at Messe Frankfurt in Germany from Nov. 5 to 7. Every year, CPhI brings together more than 100,000 pharmaceutical professionals to network for business opportunities at venues across Korea, China, Japan, Southeast Asia, the Middle East, Africa, North America and Europe.CPhI Korea held its fifth annual event in August at the Coex exhibition hall in Seoul. The main event in Euro
Oct. 27, 2019
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South Korea’s exports to turn around in 2020 Q1: report
South Korea’s declining exports are predicted to turn around in the first quarter of next year on the back of rising demand for chips and recovery in the global economy, a trade association said Sunday. “The nation’s exports are expected to bottom out this month and turn positive from the first quarter of next year due to the recovery in chip unit prices,” said Moon Byung-ki, a senior researcher at the Korea International Trade Association’s trend analysis division,
Oct. 27, 2019
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GS E&C buys stakes in $1.4b petroleum plant project in Turkey
GS Engineering and Construction said Sunday it had bought a nearly 50 percent stake in a $1.4 billion project to construct a petrochemical plant in Turkey.The South Korean builder has signed a shareholder agreement with Ronesans Holding of Turkey to acquire a 49 percent stake in Ceyhan Petrokimya Endustriyel Yatrim (CPEY), a subsidiary of the Turkish business group, the firm said. The signing ceremony was held in Istanbul on Sept. 26. By buying the stake, GS E&C will also earn profits
Oct. 27, 2019
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SKT forms partnership to build 5G networks in Philippines
SK Telecom said Sunday it has formed a strategic partnership with Now Corporation to build 5G infrastructure in the Philippines. SKT will share its know-how in 5G infrastructure design and construction, opening up the export of business-to-business solutions between Korea and the Philippines. By the first half of 2020, SKT will draw up a road map for 5G services, design infrastructure in the Philippines and provide education on core 5G technologies. The company will later aid the building
Oct. 27, 2019
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More convenience stores to suspend sales of liquid e-cigarettes following govt. warning
More convenience stores in South Korea are suspending sales of liquid type e-cigarettes following a government warning for people not to use such vaping products due to serious health risks.Convenience store chains Emart24 and 7-Eleven announced Saturday they will halt sales of three flavored liquid e-cigarettes made by US maker Juul Labs and one from state-run tobacco maker KT&G. The two retailers allowed their convenience stores to sell their remaining inventories of liquid type e-ci
Oct. 26, 2019
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Hotel Shilla acquires 44% stake in US duty-free retailer 3Sixty
South Korea's Hotel Shilla Co., which operates leading duty-free store Shilla Duty Free, said Friday it has acquired a 44 percent stake in US duty-free specialty retailer 3Sixty for $121 million. The acquisition is expected to help Shilla Duty Free make inroads into the American market. Under the deal with 3Sixty, Hotel Shilla could exercise its option to buy another 23 percent stake in the US firm in 2024. 3Sixty, one of the world's leading in-flight duty-free retailers, operates duty-free
Oct. 25, 2019
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S. Korea to abandon developing nation status in future WTO talks
The South Korean government decided Friday that it would not seek special treatment reserved for developing countries in future negotiations at the World Trade Organization. The decision followed allegations from US President Donald Trump that some countries were unfairly taking advantage of developing nation status. During a nationally televised address in the morning, Deputy Prime Minister and Finance Minister Hong Nam-ki said the government would no longer seek developing nation privileges
Oct. 25, 2019
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E-mart, GS25 remove liquid e-cigs from shelves
Following the South Korean government’s “strong warning” on the use of liquid-type e-cigarettes over health concerns Wednesday, the country’s major retailers are moving to suspend sales of the related products.The country’s largest discount chain E-Mart said Thursday it has decided to remove flavored liquid e-cigarettes including Viento’s Ice mango, Water melon and five different flavors, as well as Relx’s Mung Bean ice and Fruits, from its 74 E-Mart, Pi
Oct. 25, 2019
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Lotte Duty Free wins bid for airport shop in Singapore
Lotte Duty Free, South Korea's leading duty-free operator, said Thursday that it has won a bid to sell cigarette and liquor products at Singapore's Changi Airport.The retailer will operate 18 liquor and tobacco stores spanning more than 8,000 square meters across the airport's four terminals, replacing DFS, officials said. It marks the first time in the airport that a new operator is being awarded rights to set up shop, Lotte Duty Free said. The contract will last for six years and start in June
Oct. 24, 2019