Most Popular
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Slew of top K-pop stars ready to return from military
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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BTS-themed moon jar to be unveiled on Hangeul Day
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Samsung unveils 'personalized AI' for all devices
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Market uncertain on Korea's October rate cut despite slowed inflation
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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Special counsel bill to probe first lady scrapped
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Coldplay to celebrate release ‘Moon Music’ with Han River drone show
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Korea bans sale of 59 drugs used to treat high blood pressure
Korea's drug safety watchdog said Monday that it has banned Daebong LS Co., a local maker of valsartan, from selling and making the active ingredient meant to treat high blood pressure over a cancer-causing substance in the drug.The Ministry of Food and Drug Safety has also prohibited 22 Korean pharmaceutical firms from selling 59 products made by Daebong LS that contain valsartan. A pharmacy in Seoul (Yonhap) (Yonhap)The move came as some of the valsartan made by Daebong LS has been confirmed t
Aug. 6, 2018
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Korean Air to open route to Boston in April
Korean Air Lines Co., the country's flag carrier, said Monday it will open a new route to Boston in April next year under a joint venture pact with Delta Air Lines Inc. Korean Air plans to deploy the B787-9 to provide five flights per week on the Incheon-Boston route beginning April 12, the company said in a statement.Under the business partnership, Delta Air will allocate its B777-200ER to serve on the Incheon-Minneapolis route on a daily basis from April 2, it said. (Yonhap)On May 1, the two a
Aug. 6, 2018
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Food companies eliminating excess packaging
A number of food and beverage companies have started to minimize packaging or switch to biodegradable material, reflecting growing social awareness about the environment, industry officials said Monday.Bon IF reduced its use of synthetic resin in packaging boxed lunches by more than 30 percent, replacing them with biodegradable containers that have been certified by the Korea Environmental Industry & Technology Institute. (Yonhap)Jardin, a coffee shop chain, was the first in the country to sta
Aug. 6, 2018
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Kori No. 4 nuclear reactor back at full capacity after repair work
BUSAN -- South Korea's Kori No. 4 nuclear reactor was back at full capacity after workers fixed a leak in one of its safety valves, the country's atomic energy company said Sunday.Korea Hydro & Nuclear Power Co. said the 950,000 kilowatt reactor underwent repairs after problems were found in the main steam isolation valve. The oil is used to actuate the valve that can swiftly cut off steam going to the turbines if the need arises. South Korea`s Kori No. 4 nuclear reactor (Yonhap)The leak caused
Aug. 6, 2018
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[Monitor] Restaurant, bar business revenue sees record decline in H1
Revenue generated by South Korea’s restaurants and bars in the first half of this year dropped 2.6 percent on-year, marking the biggest decline in six years, according to recent data from Statistics Korea.Korea’s retail sales index for the service business sector that includes restaurants and bars for the January-June period stood at 95.9 points, down 2.6 percent from the previous year. This is the biggest decline for the period since the first half of 2012, when the index dropped 2.7 percent. T
Aug. 5, 2018
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Hyundai, Kia remain 5th-largest carmaker in the world in H1
Hyundai Motor Co. and its smaller corporate cousin Kia Motors Corp. maintained their fifth-largest carmaker status in the first half of 2018, industry data showed Sunday.The data based on corporate reports published by media outlets, showed that Hyundai Motor Group, which has the two South Korean carmakers under its wing, sold a combined 3.59 million vehicles in the January-June, as large foreign rivals continued to control the market. (Yonhap)Hyundai and Kia have both struggled in recent years
Aug. 5, 2018
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Samsung greatly increasing lobbying efforts in US
Samsung Electronics Co. is greatly increasing its lobbying efforts in the United States amid a rise in protectionist trends under the Donald Trump administration, industry sources said Sunday.Sources said the world's largest maker of semiconductors and smartphones is relocating its Washington, D.C. office right next to Capitol Hill so as to make it easier to make contact with US lawmakers.Data by the Center for Responsive Politics, a US nonprofit, nonpartisan group that keep tabs on lobbying eff
Aug. 5, 2018
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Soju sales in Southeast Asia hit $5m in H1
Shipments of soju, a distilled Korean liquor, to Southeast Asian countries rose sharply in the first half of this year thanks to the expansion of the Korean wave in the region, a liquor maker said Sunday.Overseas sales of soju products made by Hite Jinro Co. in Vietnam, Cambodia, Thailand and other Southeast Asian countries reached $5 million in the first six months of the year, up 51.5 percent from $3.3 million a year earlier, according to the company.(Yonhap)Hite Jinro, South Korea's No. 1 soj
Aug. 5, 2018
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US beef, pork imports surge in H1, expanding presence in Korean market
US beef and pork imports surged in the first half of 2018, expanding their presence in the South Korean market, a research institute said Sunday.According to the Korea Rural Economic Institute, both types of meat are rapidly increasing their market share in Asia's fourth-largest economy, with beef solidifying its status as No. 1 among all imports and pork now in a position to usurp imports from the European Union for the top slot.Data showed that in the January-June period US beef imports reache
Aug. 5, 2018
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S. Korea, Singapore agree to expand bilateral flights
The Seoul government said Friday it has reached an agreement with Singapore to allow airlines to operate up to 14 flights a week that directly connect South Korea's southeastern port city of Busan with the Southeast Asian country. The agreement was made during the countries' two-day talks, which began on Thursday in Seoul, following South Korean President Moon Jae-in's meeting with Singaporean Prime Minister Lee Hsien Loong last month, according to the Ministry of Land, Infrastructure and Transp
Aug. 3, 2018
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SK E&C mends road in Laos after dam collapse
SK Engineering & Construction said Friday that it had restored an 8-kilometer road near where a dam collapsed in Laos last month, speeding up recovery work. Workers are repairing the road in Attapeu, Laos. (SK E&C)The recovery of the road is part of the South Korean builder’s immediate rescue operation efforts to mend the situation for villagers in Attapeu, the company said in a statement. The hydroelectric dam in Laos that collapsed last week was built by a joint venture involving SK E&C, the
Aug. 3, 2018
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Finance Minister won't beg for investment from Samsung: report
Finance Minister Kim Dong-yeon is not likely to request Samsung Electronics make greater investments at a meeting with the group’s heir, Lee Jae-yong, on Monday, according to sources from the government and Samsung on Friday. Finance Minister Kim Dong-yeon (Yonhap)It had been rumored that the minister would ask Samsung to spend more to create new jobs ahead of their meeting. But Samsung making fresh investments is unlikely to be addressed, as the government seeks to avoid public criticism for b
Aug. 3, 2018
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Hanwha Chemical plans to merge Q Cells, Solar Holdings
Hanwha Chemical said Friday that it was currently reviewing a merger between its subsidiaries Hanwha Q Cells and Hanwha Solar Holdings, to boost efficiency of its solar modules manufacturing business.The company said that Q Cells has accepted a letter of intention for a merger from Solar Holdings, while the merger will be confirmed following Q Cell’s board of directors’ decision. Currently, Hanwha Chemical owns 100 percent stocks of Solar Holdings. Solar Holdings holds 94 percent stock in Q Cell
Aug. 3, 2018
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NK-related stocks rise on Hyundai chairwoman’s visit to North
As Hyundai Group Chairwoman Hyun Jeong-eun visited Kumgangsan in North Korea to attend a private service commemorating of her late husband Chung Mong-hun, shares rose Friday morning in expectation of the resumption of inter-Korean economic cooperation. Share prices of Hyundai Group’s affiliates, including Hyundai Engineering & Construction, Hyundai Elevator and Hyundai-Rotem, were on upward trend this week. Hyundai Group Chairwoman Hyun Jeong-eun (Yonhap)On Friday morning, stock price of Welcro
Aug. 3, 2018
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Lotte Tour eyes port calls in North Korea for its cruise business
Adding North Korea destinations will quickly boost South Korea's cruise industry, which has not been able to generate interest among the general public and the government, Harry Baek, CEO of Lotte Tour, said Friday.The company is viewed as a pioneer in South Korea's cruise tourism, having initiated the business in 2010. It has since added services to Japan, China and Russia. Harry Baek, CEO of Lotte Tour (Yonhap)"South Korea is surrounded by the sea on three sides. Once the cruise business picks
Aug. 3, 2018
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Naver files suit against webtoon piracy site
The country's biggest portal Naver has filed a civil suit worth 1 billion won ($890,789) against a piracy site that illegally distributed its webtoons, IT industry officials said Friday.The suit was formally filed on July 26 with the Seoul Central District Court against the operator of the site Bam Tokki, identified only by his last name Huh, according to the officials. (Yonhap)Naver claimed that the number of subscribers to its paid-for webtoon service fell from some 19.7 million in May 2017 to
Aug. 3, 2018
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Korea ramps up efforts to win Saudi Arabia nuclear project
South Korea is ramping up efforts to win a bid for a Saudi Arabia nuclear project after facing a setback in acquiring a nuclear power plant construction project in the UK.On Wednesday, state-run Korea Electric Power Corp. CEO Kim Jong-kap met with Khalid Al-Sultan, president of the King Abdullah City for Atomic and Renewable Energy, in Riyadh, Saudi Arabia, to deliver Korea’s strong willingness to win the bid for Saudi Arabia’s new nuclear project, according to Kepco.Kim also conveyed the curren
Aug. 2, 2018
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Faure Le Page to open first store in Korea at Galleria
Parisian luxury accessories house Faure Le Page will open its first store in Korea at Galleria Department Store in September, the South Korean retail firm said Thursday.A Faure Le Page store in Taiwan. (Faure Le Page)Faure Le Page is a French brand with a history dating back to 1717. The Faure Le Page store in Seoul will be the brand’s eighth brick-and-mortar store. There are already others in Japan and Taiwan. The brand’s signature leather bags and other small leather goods will be sold at the
Aug. 2, 2018
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Concerns over low-quality group tours resurface as Chinese visitors increase
Repeated government efforts to prevent cheap, low-quality package tours to South Korea by Chinese tourists are being questioned again as the number of travelers from the neighboring country increases, industry watchers said Thursday.The tally for June from the Korea Tourism Organization showed the volume of Chinese visitors to Korea shooting up 49 percent on-year after Beijing began to ease travel restrictions sparked by a bilateral diplomatic row. The nature of Chinese group tours to South Kore
Aug. 2, 2018
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Samsung beats Apple in Q2 profitability
Samsung Electronics Co. outpaced Apple Inc. in terms of profitability despite its weaker-than-expected smartphone sales, helped by strong sales of chips, industry data showed Thursday.The Korean tech giant posted an operating-profit-to-sales ratio of 25.4 percent in the second quarter by posting sales of 58.4 trillion won ($52.1 billion) and 14.8 trillion won in operating profit. (Yonhap)Over the April-June period, Apple posted sales of $53.2 billion and an operating profit of $12.6 billion, in
Aug. 2, 2018