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[Exclusive] US troops in S. Korea could be reduced, but not withdrawn, Trump allies tell Seoul lawmaker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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Shinhan Bank ties up with Indonesian fintech firm Akulaku on digital banking
Shinhan Bank said Tuesday it signed an agreement with Indonesian financial technology firm Akulaku to jointly offer digital banking services in the Southeast Asian country. Under the agreement, Shinhan Bank and Akulaku, which operates a consumer installment loan platform, will jointly develop digital banking services and other consumer finance services. (Yonhap)Akulaku has about 13 million registered users and 3 million people use its online shopping and consumer installment loan services per m
Oct. 30, 2018
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Moon calls for expanding renewable energy production
President Moon Jae-in called Tuesday for sharply expanding renewable energy production, saying it's not only clean and safe, but the industry will also create a number of jobs and help fuel economic growth.Moon made the remark during a ceremony held in the southwestern coast city of Gunsan to announce ambitious plans to establish one of the world's biggest renewable energy production complexes on the Saemangeum reclaimed land in the region."Renewable energy is healthy energy that protects the sa
Oct. 30, 2018
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Number of foreign executives in S. Korean companies declining
Foreign executives working for South Korea's top 100 companies by sales made up just a fraction of the management, industry data showed Monday -- a sign of a fall in the diversity of corporate culture.The Korea CXO Institute, a market research firm, showed that foreign nationals accounted for 1.4 percent, or 94, of the 6,843 executives in the 100 listed companies. (Yonhap)The figure represented a slight decrease from 1.5 percent in 2015, when the number of foreign nationals came to 101 out of 6
Oct. 29, 2018
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Moody's says robust Q3 results 'credit positive' for Posco
Moody's Investors Service, a global credit ratings agency, said Monday that Posco's robust third-quarter earnings results are "credit positive" for the South Korean steelmaker. Last week, Posco reported a 17 percent on-year jump in net profit in the July-September quarter to 1.058 trillion won ($931 million) from 906.6 billion won a year earlier. The net gain was helped by increased shareholding gains from affiliates. (Yonhap)Operating profit jumped 36 percent on-year to 1.531 trillion won, wit
Oct. 29, 2018
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KOTRA to host events in US for Korean car parts suppliers
KOTRA is set to host two networking events this week in the US to connect Korean car parts suppliers with American business and trade experts, according to the government agency on Monday. (KOTRA)The events are a response to recent changes in the US automobile market, which are expected to have a severe impact on Korean companies. In May, the US began inspections of imported automobiles and parts with the aim of limiting the country’s dependency on imports. The United States-Mexico-Canada Agreem
Oct. 29, 2018
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Hyundai Oilbank to support gasoline quality inspections
South Korean refiner Hyundai Oilbank said Monday that it would expand its support for gasoline quality assessments at gas stations during the winter season. A promotional image for the “Mobile Lab” service (Hyundai Oilbank)With a new service called the Mobile Lab, introduced by Hyundai Oilbank in May, mobile gas inspectors carry nine kinds of cutting-edge equipment in a 1-ton truck, visiting gas stations and assessing samples. Station owners are notified of the results within 30 minutes of an in
Oct. 29, 2018
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OB joins beer yoga trend
Riding on the growing popularity of “beer yoga,” South Korea’s largest beer maker by revenue Oriental Brewery said it recently hosted a beer yoga class in Itaewon, central Seoul.Beer yoga refers to a form of fitness originating from Berlin that has been trending since the mid-2010s. The class allows participants to do yoga while drinking beer, citing it can help reach the highest level of consciousness by pairing philosophy with pleasure. A poster for a beer yoga event by OB (OB)The event organi
Oct. 29, 2018
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Allergan to begin phase 3 trials of Medytox’s ‘Innotox’ in US, Canada this week
Allergan will formally begin phase 3 clinical trials of Medytox’s Type A liquid-type botulinum toxin this week, as recruitment for the clinical study is slated to start Wednesday, according to data shown on ClinicalTrials.gov.Allergan recently posted its clinical trial agenda for MT10109L on ClinicalTrials.gov. The third-phase clinical study aims to evaluate the safety and efficacy of the drug for the treatment of moderate to severe glabellar and lateral canthal lines, the firm said, referring t
Oct. 29, 2018
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Woongjin Group buys back Coway for rental business expansion
Woongjin Group, a midsized South Korean conglomerate, will take back the country’s biggest small home appliance maker, Coway, after selling it off in 2013, the group announced Monday. In its regulatory filing, Woongjin said a consortium comprising Woongjin Thinkbig Co. and STIC Investment Inc. will purchase a 22.17 percent stake in Coway Holding for 1.68 trillion won ($1.48 billion) in a bid to diversify the group’s business portfolio. “I believe the rental business has great growth potential,”
Oct. 29, 2018
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NCSoft strengthens IP portfolio with strategic investment in comic platforms
South Korean video game company NCSoft is moving to strengthen its intellectual property portfolio by investing in and striking strategic partnerships with global webtoon and web novel platforms.NCSoft has struck investment relations or strategic partnerships with a number of webtoon and web novel production studios and distribution portals over the few years, with aims to promote and strengthen its game content IP. NCSoft`s headquarters in Pangyo, Gyeonggi Province (NCSoft)The Korean game giant
Oct. 29, 2018
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Number of foreign executives in Korean companies declining
Foreign executives working for South Korean companies make up just 1.4 percent of senior management -- a decline from three years ago, as their biggest employer, Samsung, has cut back on such hirings -- data showed Monday. An analysis by market researcher Korea CXO Institute counted only 94 foreigners out of 6,843 executives. This is a decrease from 101 in 2015, or a drop of 1.5 percent. The number of companies that have non-Koreans as senior managers increased from 18 to 20 during the period. (
Oct. 29, 2018
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[Newsmaker] Supreme Court reaffirms prison term for ex-Hanjin Shipping chairwoman for insider trading
The Supreme Court on Monday finalized an 18-month prison term for a former head of the now-defunct Hanjin Shipping Co. for selling off her family's stake in the firm using insider information. Choi Eun-young, 56, was convicted in December last year of unloading the stakes held by her and her two daughters after she learned that Hanjin's creditors decided against the additional liquidity support. She avoided about 1 billion won ($875,270) of possible losses. (Yonhap)She was imprisoned following t
Oct. 29, 2018
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Despite hurdles, preparations needed for NK resources development: experts
Despite uncertainties stemming from UN sanctions against the North, preparations should still be made for resources development in North Korea, such as setting up an inter-Korean cooperative body, personnel exchanges and joint research, South Korean mineral experts have said.Speaking at a forum last week, they said approaches to North Korea for co-development should focus on persuading the North of its benefits.Since the inter-Korean summit last month, expectations are high in the South that, as
Oct. 28, 2018
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Samsung scion Lee to leave for Vietnam this week
Samsung Electronics Vice Chairman Lee Jae-yong will head to Vietnam this week on a business trip aimed at checking Samsung's key smartphone production lines amid a decline in its global market share, industry sources said Sunday. Lee is scheduled to leave on Tuesday and stop at Hanoi and Ho Chi Minh city, sources familiar with the matter said. The purpose of the trip is to check factories in Vietnam and meet with government and industry officials there, according to the sources. Samsung Ele
Oct. 28, 2018
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GS E&C reports record-high Q3 performance
South Korean builder GS Engineering and Construction reported a record-breaking quarterly performance in the third quarter, according to the firm. The company said it had recorded 9.7 trillion won ($8.4 billion) in sales, 843 billion won in operating profit and 657 billion won in pretax profit between July and September.Those figures are the highest in the history of the company, according to GS E&C.The company said its sales had increased 16.3 percent year-on-year, while its operating profit ha
Oct. 28, 2018
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Homeplus runs market to help female entrepreneurs
South Korean supermarket chain Homeplus said it was running a pop-up market for three months to help female entrepreneurs promote their products. The market, called Women’s Good Market, operates at Homeplus’ Yeongtong outlet in Suwon, Gyeonggi Province, in a joint partnership with Gyeonggi Province’s Gyeonggido Job Foundation. Participating companies are selling their products at the Yeongtong outlet, rent-free and commission-free, for three months until Dec. 31, according to Homeplus. The Women
Oct. 28, 2018
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Which Asian country has the most hydropower capacity?
NEW DELHI -- According to the recent Hydropower Status Report, East Asia and the Pacific has the highest annual increase in hydropower capacity with China contributing the largest share of installed capacity. Over 90 per cent of the capacity added in 2017 in the region came from China, which increased its total installed capacity to 341,190 MW.Japan is second in the region with an installed capacity of 49,905 MW. It is followed closely by India with an installed capacity of 49,382 MW. In India,
Oct. 28, 2018
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Arrival duty-free shop to open in May 2019
Incheon International Airport Corp. said Sunday it started detailed research on the country's first arrival duty-free shop, which will tentatively open in May. The move came as the government decided in September to allow duty-free shops at arrival terminals in a bid to reduce discomfort experienced by tourists and boost domestic consumption. Incheon International Airport duty free shops (Yonhap)Incheon International Airport said it will complete its studies on selecting the most optimal locatio
Oct. 28, 2018
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Coupang to launch eco-friendly logistics service
E-commerce company Coupang said it will launch a special delivery service, starting with a new environmentally friendly delivery center in Daegu in November. Coupang Logistics Service, a Coupang subsidiary that recently received authorization from the Ministry of Land, Infrastructure and Transport to operate as a delivery service provider, will open the country’s first logistics and delivery center with charging stations for electric cargo trucks. After opening its initial branch in Daegu, Coupa
Oct. 26, 2018
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KITA hosts networking event for German, Korean companies
The Korea International Trade Association and the Korean German Chamber of Commerce and Industry co-hosted a networking day in Seoul on Thursday to match German companies with Korean startups, according to KITA on Friday. Representatives of German and Korean companies listen to a presentation at a networking event co-hosted by the Korea International Trade Association and the Korean German Chamber of Commerce and Industry on Thursday in Seoul. (KITA)The event was attended by German companies inc
Oct. 26, 2018