Most Popular
-
1
Slew of top K-pop stars ready to return from military
-
2
S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
-
3
N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
-
4
Military aircraft evacuating S. Koreans in Lebanon returns home
-
5
Controversial cult leader’s sentence reduced to 17 years
-
6
Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
-
7
BTS-themed moon jar to be unveiled on Hangeul Day
-
8
Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
-
9
1,430 minors investigated for drug offenses from 2018 to 2023: police
-
10
[Robert Fouser] Why the US election looks so close
-
PUBG, Lineage 2: Revolution propel Korea's game industry expansion
South Korea's game industry has expanded dramatically this year with the growing popularity of PlayerUnknown's Battlegrounds and Netmarble's Lineage 2: Revolution industry sources said Wednesday.Sales of the game industry is expected to hit 11.5 trillion won ($10.6 billion) this year, up 6.2 percent from last year, according to statistics provided by the Korea Creative Content Agency.PUBG, a multiplayer online battle royale game developed and published by Bluehole subsidiary PUBG Corporation, ha
Dec. 20, 2017
-
Excavators on sale at large discount chain
Apart from shopping for groceries and daily necessities, local customers also have the chance to buy heavy equipment at a local hypermarket warehouse store. Hyundai Construction Equipment announced Monday that four mini excavators are now on sale at Emart Traders’ Gunpo branch in Gyeonggi Province, through Monday, with prices ranging from 26.5 million won ($24,400) to 45 million won, based on size. (Hyundai Construction Equipment)On the first day of the event, Friday, a customer purchased a 1.7
Dec. 20, 2017
-
Hyundai Motor labor, management reach tentative wage agreement
Hyundai Motor Co.'s union and management reached a tentative wage deal, ending concerns that protracted talks, possibly extending into the new year, could further hurt the company already struggling to cope with tough times, corporate sources said Tuesday. After 39 rounds of negotiations, union leaders at South Korea's No. 1 carmaker accepted a revised wage package offered by the company, union spokesman Hong Jae-gwan said over the phone. (Yonhap)In its revised offerings, the company said it wil
Dec. 19, 2017
-
SK Holdings receives $10m dividend from shale gas investment
SK Holdings, the holding unit of SK Group, said Tuesday that the company has received fourth-quarter dividends worth $10 million from the company‘s investment in Eureka Midstream Holdings. In September, SK Holdings purchased shares worth $100 million in Eureka Midstream Holdings, a US-based shale gas gathering and processing company owned by Morgan Stanley. (Yonhap)Houston-based Eureka currently operates midstream assets in the Marcellus and Utica Shales, the area where North America’s largest
Dec. 19, 2017
-
[Photo News] Korea's largest Starbucks
The largest Starbucks branch in Seoul, named “The Jongno branch,” is set to open Wednesday at Jongno Tower in Seoul. The 1,100-square-meter store is divided into six zones including a lounge zone and open stage and offers exclusive premium services such as Teavana products made with the Siphon brewing method to enhance flavor. Customers can enjoy over 100 beverages and 60 types of food at The Jongno branch. (Starbucks Korea)
Dec. 19, 2017
-
CJ seeks to simplify governance structure
CJ Cheiljedang, the food arm of CJ Group, will secure 20 percent of shares of the group’s logistics unit to become a sole affiliate under CJ Corp., the holding company of the conglomerate, it said Tuesday. The logistics arm of CJ Group will also merge with the conglomerate’s construction unit to create synergy in building logistics centers and other related businesses, it added.The company has decided to secure 20.1 percent of CJ Logistics’ shares currently held by KX Holdings, formerly known as
Dec. 19, 2017
-
Korea-Vietnam trade soars by 43 percent this year on FTA
Bilateral trade between South Korea and Vietnam increased by 43 percent on-year to reach $58.5 billion this year, making Vietnam South Korea’s fourth-largest trading partner, according to a report by the Trade Ministry on Tuesday. Bilateral trade has increased for three consecutive years since the free trade agreement between the two nations took effect in 2015. (Yonhap)According to the report by the Ministry of Trade, Industry and Energy, Korea’s combined exports to Vietnam reached $43.7 billio
Dec. 19, 2017
-
7.3-magnitude earthquake possible in Korea: expert
South Korea needs to set up a contingency plan in preparation for a possible 7.3-magnitude earthquake, a local expert said Tuesday. In a seminar arranged by the Federation of Korean Industries, Lee Kie-hwa, a professor at the Seoul National University's College of Natural Sciences, advised the country to prepare in advance for a big quake. "There might be an earthquake in any areas adjacent to Pohang and Gyeongju hit by earthquakes with magnitudes of over 5.0 in the past two years. A 7.3-magnitu
Dec. 19, 2017
-
Finance minister vows to support innovative industries with W10tr fund
INCHEON -- South Korea's chief economic policymaker said Tuesday that the government plans to support small and mid-sized companies with innovative technologies with a 10-trillion won ($9.2 billion) fund.In a meeting with officials at a electric vehicle parts maker, west of Seoul, Finance Minister Kim Dong-yeon said the government will listen to voices from various industries.Last month, the government unveiled a plan to inject a combined 30 trillion won in the next three years to foster innovat
Dec. 19, 2017
-
Tech firms set pace in mobile payment race
The competition for the mobile payment market is heating up in South Korea as tech firms move to outdo each other with more convenient and safer banking services on smartphones that they hope replace physical banks.Samsung Electronics’ payment service Samsung Pay launched in August 2015 is currently a dominant player with more than nine million domestic subscribers here. Samsung Pay is a mobile service allowing users to use their premium Galaxy series devices as they would use cash or credit car
Dec. 19, 2017
-
Korea allocates 538.4 million ton emissions rights for 2018
In an effort to tackle global warming, the South Korean government has decided to allocate 538.4 million tons of greenhouse gas emissions rights to 591 companies across 26 industries in 2018, the Ministry of Strategy and Finance said Tuesday. The government will also announce an emissions allocation for 2018 - 2020 in the first half of next year, which is a year behind the initially scheduled deadline of this June.Relevant authorities have not yet reached a consensus for the later time frame due
Dec. 19, 2017
-
Korea calls for China's fair anti-dumping probes
South Korea called on China on Tuesday to carry out its ongoing anti-dumping investigations into South Korean chemical products in a fair manner.The commerce ministry said it made the request at a bilateral free trade meeting here, which was attended by senior trade officials from both countries. A bilateral free trade agreement took effect in December 2015.In June, China launched an anti-dumping probe into South Korean exports of styrene monomer used to make polystyrene, which in turn is used t
Dec. 19, 2017
-
Most ICT firms rosy about 2018 outlook
A majority of South Korean ICT companies are sanguine about the country's economic and their business conditions in 2018, a poll showed Tuesday.According to the survey of 300 domestic ICT firms, 35 percent of the respondents expect Asia's fourth-largest economy to turn for the better next year.Another 50 percent predict the country's economic conditions to remain similar to those of this year, with the remainder anticipating worsening conditions.Optimists are far more this year than 2016 in the
Dec. 19, 2017
-
Korea aims to attract more tourists from Southeast Asia
The South Korean government said Monday it will focus on attracting more visitors from Southeast Asia as part of its efforts to diversify its tourist portfolio after it suffered a sharp drop in inbound foreigners in the face of a diplomatic row between Seoul and Beijing.The government will concentrate its policy efforts on promoting the country's tourism to people from Indonesia, Vietnam and India, as well as those from Taiwan and Hong Kong, and seek ways to simplify their entry into the country
Dec. 18, 2017
-
KT&G exports to break W1tr in 2017
Cigarette maker KT&G is expected to see record high exports in 2017 as it pushes ahead in foreign markets in pursuit of becoming one of the top four global tobacco companies by 2025.As of the end of the third quarter, KT&G had seen 802.5 billion won ($737.2 million) in cigarette sales abroad, with overseas sales making up 36 percent of the company‘s total earnings. Industry analysts are expecting overseas sales to break 1 trillion won for the first time this year. A consumer buys Esse cigarettes
Dec. 18, 2017
-
Coupang opens Christmas promotion
E-commerce platform Coupang has opened special Christmas promotion running until Dec. 25, the company said Monday. (Yonhap)Special discounts up to 20 percent for some 56,000 toys for children from brands such as Lego, Yong Toys, Bandai and Mimi World. Under the special gift category, the company has also listed products for adults such as digital and home appliances, kidult toys, food, books and CDs/ DVDs. All purchases under the category are subject to Rocket Delivery to be competed the next da
Dec. 18, 2017
-
Exports of traditional Korean rice wine plunge
South Korea’s exports of traditional rice wine, or makgeolli, plunged by more than 75 percent last year compared to five years ago, according to a market report Monday. Last year, outbound shipments of Korean rice wine fell to $12.87 million, down by 75.6 percent from 2011, when combined shipments reached their highest level of $52.74 million, according to data compiled by Korea Agro-Fisheries and Food Trade. (Yonhap)The figure for this year is expected to go down further, as exports of Korean
Dec. 18, 2017
-
SK completes acquisition of Dow Chemical packaging business
SK Global Chemical on Friday completed its acquisition of Dow Chemical’s packaging product business, the company said in a statement Monday. SK Global Chemical, the chemical unit of SK Innovation, signed a deal with Dow Chemical to acquire the US chemical firm’s polyvinylidene chloride (PVDC) unit in October. PVDC is used for clear film packaging including plastic food wrap. (Yonhap)With the deal completed, SK Global Chemical now has full control of properties previously owned by Dow Chemical. T
Dec. 18, 2017
-
Samsung, Hyundai confronted major challenges throughout 2017
South Korea's top two family-controlled conglomerates, Samsung and Hyundai, faced never-before-seen challenges throughout 2017, casting a cloud over the nation's long-term economic outlook.On the surface, Samsung Group enjoyed one of its best years in 2017 due to the boom in the chip industry. Samsung Electronics Co.'s operating profit came to 14.53 trillion won ($13.3 billion) in the July-September period, rising sharply from 5.2 trillion won posted last year.The Samsung companies, however, suf
Dec. 18, 2017
-
Koreans to spend less on gift buying amid weak employment conditions: poll
South Koreans plan to spend less on year-end and new year holiday gifts in the coming few weeks compared to the year before amid rising unemployment and unstable job security, a poll showed Monday.The average South Korean plans to spend about 203,000 won ($183) buying gifts toward the end of the year, down 58,000 won from 2016, according to the survey of 240 people done between Nov. 21-24 by market researcher DMC Media.The survey attributed the fall to growing joblessness, decreasing job securit
Dec. 18, 2017