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[Exclusive] US troops in S. Korea could be reduced, but not withdrawn, Trump allies tell Seoul lawmaker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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Plastic cup ban a headache for coffee shop workers: poll
A recent survey showed that part-time servers at coffee shops are experiencing worsened working conditions since the imposition of a ban on plastic cups for in-store customers.Job portal Albamon said Friday that according to its survey, 87.2 percent of the part-time servers who responded answered that their work had become more difficult since the ban.(Yonhap)When asked why, 53.6 percent of respondents said they had more work, including washing mugs and glasses.In addition, 33.6 percent said man
Oct. 26, 2018
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Kolon, BASF launch joint venture for polyoxymethylene production
Kolon Plastics, an affiliate of South Korea’s Kolon Group, launched Kolon BASF innoPOM, a joint venture with German chemicals firm BASF, to make polyoxymethylene (POM) a plastic used in car parts, the company said Thursday. Backed by the world’s biggest POM production capacity and growing demand in the auto industry, the joint venture is expected to bolster Kolon’s annual revenue by 80 billion won ($70.2 million).Located in Gimcheon, North Gyeongsang Province, Kolon and BASF each invested 30 bil
Oct. 25, 2018
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Posco to support 5,500 job seekers over 5 years
South Korea’s leading steelmaker, Posco, will support 5,500 job seekers over the next five years by offering job training as part of its vision for mutual growth with society, the company said Thursday. Its three education programs are an artificial intelligence and big-data academy for young adults, hands-on experience of working in the corporate world and an entrepreneur incubation school.To help participants focus on learning, Posco will cover accommodations and provide an allowance of betwee
Oct. 25, 2018
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Cafe24 launches e-commerce platform in Japan
South Korean e-commerce platform Cafe24 said Thursday it has launched an information technology solutions and services platform for Japanese business operators. The company said it launched the one-stop e-commerce solutions platform to provide online store-building, a payment gateway, logistics and marketing services. The company said it expects Japanese businesses of all sizes, from one-person operations to large-scale corporations, to now sell their products to billions of global consumers thr
Oct. 25, 2018
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Kakao labor union launches
South Korean internet services provider Kakao confirmed Thursday its employees have created an in-house labor union that aims to challenge the company’s current wage system.Kakao marked the fourth information technology company in Korea to see an organization to represent workers’ rights, following Naver, Nexon and Smilegate. Prior to the launch, the union was affiliated with the Korean Chemistry & Textile Federation of Unions. (Kakao)“We respect the launch of the labor union and their activitie
Oct. 25, 2018
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Posco to support 5,500 job seekers over 5 years
South Korea’s leading steelmaker Posco will support 5,500 job seekers over the next five years by offering job training as part of its vision for mutual growth with society, the company said Thursday. Its three education programs are an artificial intelligence and big data academy for young adults, hands-on experience of working in the corporate world and an entrepreneur incubation school.For participants to focus on learning, Posco will cover accommodations and provide an allowance of between 5
Oct. 25, 2018
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Italy fines Apple, Samsung millions for slowing phones: official
Italy's competition authority on Wednesday said it was fining Apple and Samsung 10 and five million euros ($11.5 and $5.7 million) respectively for the "planned obsolescence" of their smartphones.The ruling is believed to be the first against the manufacturers following accusations worldwide that they encourage operating system updates for older phones which slow them down, thereby encouraging the purchase of new phones. (Yonhap)An investigation by the anti-trust authority revealed that "Apple a
Oct. 24, 2018
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Construction experts gather to discuss how to achieve rebound in global market
Representatives of South Korean construction companies and related associations gathered at a forum hosted by KOTRA on Wednesday to discuss how to achieve a rebound in the global market. Among the challenges they discussed were low oil prices and increased competition from Chinese companies. Over the last five years, Korean companies saw the value of their overseas contracts drop from $65.2 billion in 2013 to $29 billion last year -- mainly the result of a plunge in oil prices and the stronger p
Oct. 24, 2018
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Asiana Airlines donates to school in Fujian
South Korean air carrier Asiana Airlines has supplied classroom equipment for local students in Fuzhou in China’s southeastern Fujian province, and delivered special lectures for young aspiring flight attendants, the company said Tuesday. Local students in Fuzhou, Fujian province, China pose for a photo with Asiana Airlines flight attendants during its “Beautiful Classroom” project. (Asiana Airlines)It was part of the airline’s “Beautiful Classroom” project, a corporate outreach campaign the co
Oct. 24, 2018
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Lotte Confectionery buys Myanmar’s top bakery company
Lotte Group’s confectionery-making unit said Wednesday that it had acquired a bakery company in Myanmar to facilitate its penetration into the Southeast Asian market.According to the company, Lotte Confectionery will own an 80 percent stake in L&M Mayson Company for 76.9 billion won ($69 million).Established in 1996, L&M Mayson is the largest bread-making company in Myanmar with annual sales of approximately 35 billion won. It runs three manufacturing plants, 12 sales branches and 10 logistics c
Oct. 24, 2018
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Mediation for victims of Samsung's work diseases behind schedule
The settlement process to resolve the dispute between Samsung Electronics Co. and its former employees suffering from work-related illnesses is behind schedule, industry sources said Wednesday, apparently as their mediation committee is still contemplating details on compensation.In July, South Korea's top chipmaker and an advocacy group representing victims of work-related diseases, the Supporters for the Health and Rights of People in the Semiconductor Industry, inked an agreement to uncondit
Oct. 24, 2018
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Samsung BioLogics Q3 operating profit down 55.7% on production changes
Samsung BioLogics said Tuesday that its third-quarter operating profit fell 55.7 percent on-year to 10.5 billion won ($9.23 million), attributing the decline to production changes at two of its biologics manufacturing plants.The company’s revenue in the July-September period reached 101.1 billion, down 19.4 percent from the previous year. The drop in revenue was also accredited to production changes at the firm’s No. 1 and No. 2 plants.Samsung BioLogics headquarters in Songdo, Incheon (Park Hyun
Oct. 23, 2018
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[Photo News] Industry visit to Samsung BioLogics
SONGDO VISIT -- Participants of the 17th World Korean Business Convention, an annual event celebrating the achievements of overseas Korean businessmen and traders and exploring new business opportunities, listen to a presentation at Samsung BioLogics’ headquarters in Songdo, Incheon, Tuesday. The theme of this year’s World Korean Business Convention is “United Hansang.” Hansang means “Korean merchants” in Korean. (Yonhap)
Oct. 23, 2018
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LG Household & Healthcare posts record-high Q3 performance
LG Household & Healthcare, South Korea’s No. 2 cosmetics and household goods maker in terms of sales, reported a record-breaking quarterly performance for its third quarter Tuesday. The company said it recorded 1.7 trillion won ($1.49 billion) in sales and 277.5 billion won operating profit in the third quarter this year. By sector, its cosmetics business saw 23.5 percent increase in sales year-on-year and 30.6 percent increase in operating profit. The performance was mainly driven by luxury cos
Oct. 23, 2018
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Posco’s Q3 operating profit hits record high
Posco, South Korea’s largest steelmaker, flagged its best ever quarterly operating profit between July and September at 1.5 trillion won ($1.32 billion), showing a sharp 36 percent on-year surge, on the back of improved performance across most businesses, the company said Tuesday.Posting over 1 trillion won in operating profit for the fifth consecutive quarter, this is the company’s highest operating profit since the Korea International Financial Reporting Standard was implemented in 2011.The fi
Oct. 23, 2018
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Diageo launches brand campaign for low-alcohol W Signature
South Korean branch of British spirits maker Diageo Korea said Tuesday that it has launched a brand campaign for its low-alcohol W Signature spirit drink to encourage consumers to better understand it.(Diageo Korea)Under theme of “How Old Are You,” the campaign aims to encourage consumers to find out the age and value of the spirit drink they choose, so they can learn the meaning and importance of the age of low-strength spirit drink.The company said it expects consumers to better determine the
Oct. 23, 2018
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Lotte Group announces W50tr investment plan for next five years
Lotte Group announced plans Tuesday to invest 50 trillion won ($44 billion) over the next five years, a move intended to quickly normalize the group’s business after its Chairman Shin Dong-bin returned to the helm after eight months away, upon being released from jail earlier this month.The retail-to-chemicals giant said it plans to invest 12 trillion won in 2019, the largest investment amount for a single year. Lotte Group Chairman Shin Dong-bin enters Lotte Group headquarters in Lotte World To
Oct. 23, 2018
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Lawmakers divided over inter-Korean economic cooperation
South Korean lawmakers from ruling and opposition parties were divided over the prospects of economic cooperation with the North during the parliamentary audit sessions on Tuesday.While the lawmakers from the ruling Democratic Party of Korea said economic cooperation with the North would help South Korean companies make a U-turn and create more jobs here, representatives of opposition parties were pessimistic, saying such cooperation would impose financial burdens on the public.Rep. Park Jung of
Oct. 23, 2018
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Online malls planning big sales for November
Online shopping malls are planning big sales for November, a month that used to be a slow season but is turning out record sales from discounts, industry officials said Tuesday.EBay Korea racked up sales in November last year through its "Big Smile Day" discounts. Although it did not disclose details, sales of home appliances are said to have increased 15 percent from the same month the previous year, clothing and fashion accessories 18 percent, beauty products 19 percent and food 14 percent. (Y
Oct. 23, 2018
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K-water succeeds in pilot water management project in Vietnam
The Korea Water Resources Corporation, or K-water, said it succeeded in its pilot project of smart water management customized for Vietnam that was carried out together with Korean companies and Vietnam’s National Center for Water Resources Planning and Investigation.They shared the performance of the pilot project during a meeting in Hanoi, Vietnam last week, according to K-water on Monday.A Korean company employee explains the equipment to monitor underground water to Vietnamese employees in H
Oct. 22, 2018