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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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Controversial cult leader’s sentence reduced to 17 years
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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, Hyundai chiefs to accompany Yoon on Singapore trip
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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[Robert Fouser] Why the US election looks so close
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LG Display’s OLED plant in China approved by government
LG Display’s plan to build an organic light-emitting diode plant in China was conditionally approved by the South Korean government after a five-month-long review, giving the green light to the firm amid growing demand for OLED TVs in the global market.The Ministry of Trade, Industry and Energy said Tuesday it approved LG Display’s OLED plant for televisions in Guangzhou, considering its positive ramifications, including market expansion and job creation at LG Display’s partner companies. The ap
Dec. 26, 2017
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[Photo News] Massive Move-in
Final-stage works are being done at Raemian brand apartments in Seocho district, Seoul, Tuesday. Residents will start to move in from January next year. According to local market research company Real Estate 114, a total of 43,066 households will move in, a record high for the month of January. Throughout next year, some 440,000 households are expected to settle into new apartments, surpassing a record-high figure marked in 1990s when five new metropolitan towns opened, the report added. (Yonhap
Dec. 26, 2017
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Korean biopharma firms see mixed results in drug licensing
South Korea’s biopharmaceutical companies have had a mixed licensing record this year, with some striking major license-out deals and others losing their contracts over reporting issues related to clinical trials. Last week, HanAll BioPharma — an affiliate of Seoul-based Daewoong Pharmaceutical — and Genexine both sealed licensing deals for their drug candidates with foreign pharma firms, raising market expectations for the two Korean drugmakers.HanAll Biopharma has licensed out the development
Dec. 26, 2017
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Korea panel approves LG Display's factory plan in China
A government panel on Tuesday greenlighted LG Display Co.'s 5 trillion-won ($4.4 billion) project to build its first large organic light-emitting diode plant in China.The panel under the Ministry of Trade, Industry and Energy had been reviewing the plan since July when LG Display asked the government to approve its investment in the southern Chinese city of Guangzhou.The panel gave the condition that LG Display must increase the localization of its equipment and its investment at home. A model s
Dec. 26, 2017
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[From the scene] At T2, speed and efficiency are key
Tile floors gleam and sunlight streams in overhead through the glass-paneled ceiling at the second passenger terminal of Incheon Airport, which is in the last stages of preparation to open to the public on Jan. 18.The terminal represents the culmination of a nine-year project worth 5 trillion won ($4.63 billion).The first thing that catches the eye is the ceiling, about 5 meters taller than that of the first terminal. The high ceiling is one of the ways in which the second terminal has tried to
Dec. 25, 2017
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Bad weather affects 1,400 flights at Incheon Airport over Christmas holiday
Heavy fog in the west coast of Gyeonggi Province and other inland parts of Korea on Saturday and Sunday led to a massive volume of flight cancellations and delays at Incheon Airport, causing a three-day chain effect lasting to Christmas Day. The fog is now gone, but the impact is still reverberating at the country’s biggest airport. According to airport authorities, on Monday, 280 flights were delayed due to rescheduling and two were canceled due to a lack of reservations, as of 1 p.m. Incheon A
Dec. 25, 2017
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Hyundai Engineering to start sales of Hillstate apartments in Gumi
Hyundai Engineering will start sales of its new Hillstate brand apartments in Songjeong, Gumi, the company said Monday. Lot sales will start in January next year, and residents will be able to move in around May 2020, according to the company’s officials. The complex consists of seven apartment buildings as high as 20 stories. It will hold 526 households, mostly small or medium-sized, the company added An artist’s drawing of the Hillstate apartment complex in Songjeong, Gumi, North Gyeongsang Pr
Dec. 25, 2017
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Homeplus holds charity events for those in need
Korean discount chain Homeplus is stepping up efforts to replace its year-end parties with charity events for those in need. “We decided to focus more on making social contributions to return the love we have received and to look after our neighbors in need. We will also make this social work last throughout next year,” said Lim Il-soon, chief executive of Homeplus. Lim Il-soon (first from left), chief executive of Homeplus, poses with Rep. Han Jung-ae of the Democratic Party of Korea and Choi D
Dec. 25, 2017
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Jeju Air to operate more international flights in winter
Jeju Air will temporarily increase international flights for routes that tend to see a spike in demand during winter, the low-cost carrier said Monday. The flights will operate in and out of Jeju Airport and Cheongju Airport. There will be flights between Jeju and Manila in the Philippines between Friday and Jan. 1. (Yonhap)Three round trips between Jeju and Chiang Mai, Thailand, are scheduled in January. Five round trips between Jeju and Danang, Vietnam, are also planned in February.A total of
Dec. 25, 2017
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Samsung C&T wins 455 bln won reclamation order in Hong Kong
Samsung C&T Corp., the construction unit of Samsung Group, said Monday it secured a 455 billion won ($420 million) land reclamation project in Hong Kong.In a joint venture with local company Build King, Samsung C&T received the order from Hong Kong's Civil Engineering & Development Department to reclaim land from the sea for a new town on northern Lantau Island, the company said in a statement. Mainland Chinese tourists pose for photos in front of Victoria Harbour and the skyline in Hong Kong on
Dec. 25, 2017
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Total assets held by private insurers top 1,000 trillion won in 2016
Total assets held by South Korea's private insurers surpassed the 1,000 trillion won ($926 billion) mark in 2016, 94 years after the first firm started operations, industry data showed Monday.The 2016 insurance statistical yearbook released by Korea Insurance Development Institute, showed combined assets held by local insurance agencies reached 1,034.1 trillion won. The total includes 782.1 trillion won controlled by life insurers and over 252 trillion won in assets owned by non-life insurance c
Dec. 25, 2017
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Lotte personnel appointments delayed after chief's suspended sentence
Lotte Group, a retail-to-chemical conglomerate, said Monday it will carry out its regular personnel appointments early next year after its chief received a suspended sentence for embezzlement and breach of trust. The delay comes as the Seoul Central District Court on Friday sentenced Lotte Group Chairman Shin Dong-bin to 20 months in prison with a two-year suspension of the charges.The court found the chairman guilty of letting his 95-year-old father's mistress run shops at Lotte Cinema movie th
Dec. 25, 2017
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Petroleum refinery industry increasing investment, diversifying portfolio
South Korea's petroleum refinery industry is making large scale investments and diversifying their portfolios amid solid growth this year, market watchers said Monday.Observers said that the move comes as companies want to capitalize on recent gains and better insulate themselves from uncertainties going forward.S-Oil Corp., which is controlled by Saudi Arabia's Aramco, has set its eyes on completing its residue upgrading complex and olefin downstream complex in the first half of 2018. The compa
Dec. 25, 2017
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S. Korea calls on U.S. to exclude S. Korean washers from remedy measure
South Korea has asked the United States to exclude South Korean washers from any remedy measure, noting that U.S. public interest will be hurt by the imposition of safeguard measures. “The Korean government would like to emphasize that safeguard measures should be taken with caution as they are imposed against fair trade,” said Yeo Han-koo, minister-counselor at the Korean Embassy in Washington, in a hearing brief that was submitted Dec. 11. He also said South Korean imports should be excluded f
Dec. 24, 2017
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Lotte chief gets suspended sentence, keeps leadership intact
Lotte Group chief Shin Dong-bin heaved a sigh of relief Friday as he was given a suspended sentence by a local court on charges of embezzlement and breach of trust, keeping in place his leadership over the nation’s largest retail giant. The court, however, sentenced his father and group founder Shin Kyuk-ho to four years in prison. He was not taken into custody because of his failing health. From left: Lotte Group Chairman Shin Dong-bin, Lotte founder Shin Kyuk-ho and former Vice Chairman Shin D
Dec. 22, 2017
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Number of Chinese visitors dips for 9th straight month amid THAAD dispute
The number of Chinese tourists in South Korea declined 42.1 percent on-year in November, marking the ninth straight month of decrease following the diplomatic row between the two countries over the deployment of a US anti-missile system here, government data showed Friday.The tally of Chinese visitors came to 299,247 last month, according to the data by the Korea Tourism Organization.The overall number of visitors from the neighboring country in the January-November period stood at 3.83 million,
Dec. 22, 2017
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Market views mixed over fate of chip boom
Debate on when the current boom in semiconductors will peak was refueled Friday, as Korean securities brokerages released lower-than-expected forecasts for Samsung Electronics’ fourth-quarter earnings. IBK Investment & Securities said in a report that Samsung would hit new highs in sales and operating profit in the fourth quarter, but the figures would be less than market expectations. IBK’s analyst Kim Un-ho forecast fourth-quarter sales of the tech titan would reach 65.8 trillion won ($61.2 bi
Dec. 22, 2017
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Coupang holds hackathon to improve customer service
E-commerce firm Coupang said Friday that it held a three-day Customer Service Hackathon to come up with ways to improve its customer experience. Participants of the fourth Coupang CS Hackathon (Coupang)Now in its fourth year, the Customer Service Hackathon brings together Coupang’s customer service representatives with system developers to realize front-line representatives’ ideas for improving the Coupang experience.This year’s contest drew some 100 ideas, with 23 of them developed into usable
Dec. 22, 2017
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[Weekender] For Koreans, ’tis a time for spending
For Koreans, Christmas comes with its own set of spending rituals.It is no surprise that the beloved holiday is accompanied by quasi-mandatory consumption patterns, in a country where specific dates, like Nov. 11, are automatically equated with buying particular products.The most notable Christmas product is Christmas cakes. Although the original tradition overseas is to bake Christmas cakes at home, in Korea consumers head to bakeries for their Christmas treats.According to bakery chain Paris B
Dec. 22, 2017
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Spirits market turns to lighter alcohol
The spirits market is showing a notable rise in sales in the low-ABV category this holiday season, as South Koreans increasingly celebrate with lighter drinks and smaller gatherings.Since last year, Korea has seen a surge in demand for liquor with low alcohol by volume. Whiskey companies have also been releasing options for consumers who shy away from heavy drinks. A DRINKiQ session at Hankuk University of Foreign Studies in February raises awareness about responsible drinking (Diageo)Targeting
Dec. 21, 2017