Most Popular
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Son Ye-jin is not worried about aging
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Samsung projects 15-fold surge in Q2 profit
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Man turns self in over offensive comment about car crash victims
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[Exclusive] US troops in S. Korea could be reduced, but not withdrawn, Trump allies tell Seoul lawmaker
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Is Hybe Chairman Bang Si-hyuk really ignoring NewJeans?
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Just 1 in 4 Korean teens 'content with life'
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Opposition leader's attacker sentenced to 15 years in prison
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Hyosung's estranged son donates inheritance, seeks to end family feud
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90% of Gen Z says they won't keep quiet over problems at work
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Surprise appearance of Son Heung-min packs public park in minutes, prompts police to control area
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Korea's Bithumb eyes US security token exchange
South Korea's top cryptocurrency exchange Bithumb has signed a deal with a US fintech company to set up a security token exchange in America, industry sources said Thursday.The agreement with SeriesOne calls for Bithum to invest in and provide technical support for the establishment of the envisioned security token exchange in the world's largest economy. (Yonhap)Base on the blockchain technology, security tokens are cryptographic tokens that pay dividends, share profits, pay interest or invest
Nov. 1, 2018
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Doosan Heavy swings to Q3 net profit on strong sales of affiliate
Doosan Heavy Industries & Construction Co., the world's leading desalination plant builder, said Wednesday that it shifted to a net profit in the third quarter from a year earlier due to the strong performance of its key affiliates.For the three months ending on Sept. 30, net profit reached 45.9 billion won ($40.3 million), compared with a net loss of 9.9 billion won a year earlier, the company said in a statement. This photo provided by Doosan Heavy Industries & Construction Co. shows participa
Oct. 31, 2018
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Hyundai Heavy swings to Q3 net loss on penalties, higher manufacturing costs
Hyundai Heavy Industries Co., the world's largest shipbuilder by sales, said Wednesday that it has shifted to a net loss in the third quarter from a year earlier due to penalties and higher thick steel plate prices.The company said in a regulatory filing that it posted a net loss of 23.1 billion won ($20.2 million) in the July-September period, compared with a net profit of 182 billion won a year earlier.(Yonhap)Hyundai Heavy blamed the loss on penalties worth 20 billion won for late delivery of
Oct. 31, 2018
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Shinsegae signs W1tr investment deal for e-commerce spinoff
South Korean retail conglomerate Shinsegae Group finalized an investment contract worth 1 trillion won ($880 million) with a foreign investment firm and a private equity firm on Wednesday for an e-commerce spinoff. According to Shinsegae Group, it signed the contract with Affinity Equity Partners and BRV Capital Management, a consumer-focused investment firm, following its signing of a memorandum of understanding with the two companies in January. Shinsegae Group Vice Chairman Chung Yong-jin (ce
Oct. 31, 2018
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Korean Air introduces ways to spend mileage for trips, hotel reservations
South Korea’s leading air carrier Korean Air has introduced ways to efficiently use its Korean Air SkyPass mileage system. According to Korean Air, miles earned on the air carrier or partner airlines after July 1, 2008 are valid for 10 years from the date of travel and can be used until Dec. 31 of the 10th year. One of the most efficient way to use mileage had been to upgrade flight seats or purchase tickets, but Korean Air said the miles can also be used for purchasing package tours or making r
Oct. 31, 2018
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Golfzon launches membership program
Golfzon, South Korea’s leading golf simulator maker, has launched a new membership discount offer for golfers playing with its simulators or visiting golf courses. Advertisement for Golf Daddy (Golfzon)Subscribers to the Golf Daddy membership program will each month be given a coupon worth 10,000 won ($8.80) after playing seven rounds at the simulator, an infinite supply of some 60 virtual items and discounts at online and offline shops for golf equipment. Also each month members will be offered
Oct. 31, 2018
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Hanmi’s leukemia drug candidate obtains US FDA orphan drug designation
South Korea’s Hanmi Pharmaceutical said Wednesday that its new drug candidate for the treatment of acute myeloid leukemia has been designated as an orphan drug by the US Food and Drug Administration. Hanmi’s drug candidate in development, HM43239, is a small molecule FMS-like tyrosine kinase 3 inhibitor for the treatment of patients with acute myeloid leukemia. It’s a next-generation drug that has overcome resistance to FLT3 inhibitors currently used to treat the disease, the firm said. Hanmi P
Oct. 31, 2018
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Top 5 IP offices gather in Seoul for trademark, industrial design system innovation talks
Representatives of the world’s top five IP offices have gathered in Seoul this week for their annual meetings on trademarks and industrial designs, as they aim to align the conventional trademark and industrial design system with the “fourth industrial revolution.”The Korean Intellectual Property Office said Wednesday the TM5-ID5 Annual Meetings are being held at Imperial Palace Seoul from Thursday to Tuesday, attended by KIPO, the United States Patent and Trademark Office, Japan Patent Office,
Oct. 31, 2018
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IIAC hosts World Aviation Conference 2018
INCHEON -- Some 1,000 global aviation experts and airport industry insiders from 70 countries gathered at Incheon International Airport Corp.’s third annual World Aviation Industry Conference on Wednesday, an event aimed at exchanging insights on the future growth potential of global aviation and airports. The three-day event officially kicked off with IIAC CEO Chung Il-young’s opening remarks, in which he stressed the airport’s role in creating synergy with aviation service.Participants includi
Oct. 31, 2018
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Regulator begins review on another suspected accounting breach by Samsung BioLogics
South Korea's financial regulator on Wednesday started a review on another suspected violation of accounting rules at Samsung BioLogics Co., about three months after it concluded that the biopharmaceutical company intentionally violated accounting rules. The regulatory probe centers on questions about Samsung BioLogics' sudden profits in 2015 after years of losses. Samsung BioLogics reported a net profit of 1.9 trillion won ($1.67 billion) that year after changing the method used to calculate th
Oct. 31, 2018
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Beer exports increase with growing popularity in China
Exports of South Korean beer have jumped more than 50 percent so far this year compared with the same months last year, driven by growing popularity in China, data showed Wednesday.Figures from the Agro-Fisheries & Food Trade Corp. showed exports of $121 million in the January-September period, up 56.3 percent from $78.2 million in the same months last year. The total up to end-September already has exceeded the $112.4 million for all 2017, according to the data.Shipments to China this year reac
Oct. 31, 2018
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Hanwha Q Cells Korea seeks to remain top solar cell maker
JINCHEON, North Chungcheong Province -- Hanwha Q Cells Korea, the solar cell and module manufacturer under Hanwha Group, on Tuesday revealed its factory in North Chungcheong Province, as it seeks to top the global solar power market backed by the smart factory and improved management efficiency.Hanwha Q Cells Korea’s smart factory in Jincheon, North Chungcheong Province, is the world’s largest single solar cell plant, where 2.2 million solar cells are produced daily, the company said.Sitting on
Oct. 31, 2018
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Samsung’s operating profit exceeds W17tr for first time in Q3
Samsung Electronics achieved its largest quarterly operating profit in the third quarter this year, exceeding 17 trillion won ($14.9 billion) for the first time, owing to consistent robust sales of semiconductors, according to its earnings announcement Wednesday. The South Korean tech giant posted 65.46 trillion won in consolidated revenue in the third quarter, up 5.5 percent from a year earlier, and 17.57 trillion won in operating profit, up 20.9 percent. (AFP)The third-quarter operating profit
Oct. 31, 2018
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Industry minister vows to support slumping manufacturing sector
South Korea's industry minister has vowed to come up with support packages for the auto and shipbuilding companies to tackle challenges facing the sluggish manufacturing sectors. Sung Yun-mo, minister of trade, industry and energy, put top priority on revitalizing the key manufacturing sectors as local parts makers have been grappling with falling demand and financial problems. (Yonhap)"Auto and shipbuilding industries are the most hard hit sectors in the short term," Sung said in a meeting with
Oct. 31, 2018
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Samsung chief vows to expand investment in Vietnam
Samsung Electronics Vice Chairman Lee Jae-yong, the de facto leader of top South Korean conglomerate Samsung, has met Vietnamese Prime Minister Nguyen Xuan Phuc in Hanoi and vowed to expand the company's investment in the Southeast Asian country.The top executive left for Vietnam on Tuesday and met the Vietnamese premiere on the day of his arrival.During the meeting, Lee claimed that Samsung will continue to make long-term investments in Vietnam and expand its business in the country."Samsung ha
Oct. 31, 2018
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Hyundai to relocate 300 workers from truck production line
South Korea's top automaker, Hyundai Motor Co., said Tuesday it will relocate around 300 workers from its truck production line, due mainly to the falling demand for such vehicles from the weakening construction industry.Hyundai said it reached an agreement with its labor union to reassign some of the workers from the truck production line of the Jeonju factory, located around 190 kilometers south of Seoul.Around 210 employees will be sent to other lines in the factory, while others will be disp
Oct. 30, 2018
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Hong Sam Won mesmerizes US with red ginseng drink
South Korea’s flagship red ginseng drink Hong Sam Won from Cheong Kwan Jang is not only the oldest of its kind, but also the longest-running leader, maintain its top spot for 30 years. Backed by such consistent popularity and the proven quality of the red ginseng drink, Hong Sam Won has been exported worldwide, particularly proving popular in the United States and China. The drink had been sold mainly at Korean supermarkets in the US until 2014. Its distribution began stretching out to Costco in
Oct. 30, 2018
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Kakaopay membership users top 5M
Kakaopay Corp., a South Korean mobile payment platform, said Tuesday its "all-in-one" barcode membership has attracted more than 5 million users.Kakaopay said its members can accumulate and use points in making transactions in 65,000 stores, including convenience stores and gas stations, across the country just by showing their barcodes in the mobile messenger KakaoTalk. (Yonhap)Kakaopay -- which is similar to the American online payment service PayPal -- also allows people to preregister their
Oct. 30, 2018
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Posco E&C seeks tenants for The Sharp apartment complex in Songdo
Posco Engineering and Construction is seeking tenants to fill the studio apartments and store spaces of the Songdo The Sharp Triple Tower apartment complex set to be built in Songdo, Incheon.The Songdo The Sharp Triple Tower consists of two buildings with three underground floors and 23 above-ground floors. The first two floors are available to store owners. And as of now, only parts of the first floor are available to prospective tenants.From the third floor up, the building houses studio apart
Oct. 30, 2018
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Hite Jinro aims to become global liquor company by 2024
South Korea’s leading liquor maker Hite Jinro said it aims to become a global liquor company by 2024, the year the company celebrates its 100th anniversary. Hite Jinro’s low-alcohol fruit-flavored soju Jinro Plum is advertised during a Korean Parade held at an annual K-town Festival in Manhattan, New York, on Oct 6. (Hite Jinro)According to Hite Jinro, the company has integrated its operating system at overseas branches in the US, Japan and China so they can better perform localization and mark
Oct. 30, 2018