Most Popular
-
1
Ex-presidential official’s leaked phone call rattles conservative bloc
-
2
Slew of top K-pop stars ready to return from military
-
3
S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
-
4
N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
-
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
Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
-
8
1,430 minors investigated for drug offenses from 2018 to 2023: police
-
9
BTS-themed moon jar to be unveiled on Hangeul Day
-
10
[Robert Fouser] Why the US election looks so close
-
Asiana helps youths find the right career
Asiana Airlines’ chief executive took the stage to counsel youths on how to find the career that fits their dreams, according to the airline Wednesday.On Tuesday, Asiana Airlines hosted its sixth Asiana Dream Festival at Aram Nuri Aram Music Hall in Goyang, Gyeonggi Province, where Chief Executive Officer Kim Soo-cheon gave a talk to students as part of the airline’s 2,000th Saekdong Narae Classroom session. Asiana Airlines CEO Kim Soo-cheon (front row, fourth from left) poses with students at t
Nov. 8, 2017
-
HNB market heats up with KT&G’s entrance
Competition in the heat-not-burn tobacco market in Korea is poised to intensify with the entrance of domestic cigarette giant KT&G’s new device lil. On Tuesday, KT&G announced that it would be releasing its lil device in Seoul on Nov. 20, with a trial sales period starting the week prior. The device is priced at 95,000 won ($85.20), and its corresponding Fiit sticks are priced at 4,300 won per pack of 20.The announcement came at a sensitive time, as the industry is closely watching whether the K
Nov. 8, 2017
-
US bakery Cinnabon taps Seoul market
Cinnabon, the Atlanta-based bakery chain, has opened its first Korean outlet at Hyundai Department Store’s Cheonho branch in Gangdong-gu, Seoul.In a press event Wednesday at the newly opened Seoul location, an assortment of cinnamon rolls and specialty coffee drinks were presented.In Seoul, Cinnabon is to serve its all-time favorite Cinnabon Classic Rolls at 4,500 won ($4), as well as flavored specialties like Cinnabon Caramel Pecan at 5,100 won and the Minibon at 3,500 won.Cinnabon currently op
Nov. 8, 2017
-
Apple iPhone X arrives in Korea on Nov. 24 with higher price
Apple’s 10th anniversary smartphone arrives in Korea on Nov. 24 at a price of 1.42 million won, around $270 higher than in the US. The US tech giant announced Tuesday iPhone X will be available in 10 more countries including Korea, Thailand and Turkey on Nov. 24. The preorders will start on Nov. 17, a week ahead of the official launch. The iPhone X in Korea is priced at 1.42 million won ($1,275) for the 64 gigabyte model and 1.63 million won for 256 gigabyte model, according to local telecom ope
Nov. 8, 2017
-
KEPCO pushes for 'power grid' connecting Korea, Russia
The state-run Korea Power Electric Corp. said Wednesday it will push for connecting the electricity network between South Korea and Russia as part of its "Northeast Asian super grid" project involving China and Japan.KEPCO CEO Cho Hwan-eik met with Alexander Galushka, minister for development of the Russian Far East, in Seoul on Tuesday to discuss ways to connect the two nations' electricity network via a direct current electricity cable along the seabed. "South Korea and Russia will have to fo
Nov. 8, 2017
-
Air Busan to expand fleet to 23 this year
Air Busan Co. said Wednesday it will increase its fleet to 23 by the end of this year to strengthen services.On Tuesday, the low-cost carrier added its 22nd A321-200 jet to its fleet, with a plan to add the 23rd plane this month, Air Busan said in a statement. The budget carrier unit of Asiana Airlines Inc. currently operates 15 A321-200 jets and six smaller A320-200s, all leased and with up to 220 seats, to serve four domestic routes and 24 international routes. In 2020, it plans to bring in th
Nov. 8, 2017
-
Celltrion's operating profit up 89% in Q3
Celltrion Inc., a South Korean biopharmaceutical firm, said Wednesday that its operating profit soared 89.3 percent on-year in the third quarter, helped by robust sales of its biosimilar Remsima in overseas markets.Operating income came to 140 billion won (US$125.8 million) in the July-September period, compared with 74 billion won logged the previous year, the company said in a regulatory filing. Sales also jumped 37.9 percent on-year to 232 billion won, with net profit also almost doubling to
Nov. 8, 2017
-
Kolon Life Science launches osteoarthritis drug Invossa in Korea
Kolon Life Science has begun selling Invossa, a novel cell-mediated therapy for degenerative arthritis, in South Korea, with the first patient injection taking place Wednesday, the company said. Invossa is the world’s first gene therapy for treating osteoarthritis of the knee, in which the cartilage that cushions the joints wears away, causing the bones to rub together and induce pain.A single injection of the drug delivers therapeutic relief for up to two years, according to the firm. It was de
Nov. 8, 2017
-
GS E&C’s Xi named top apartment brand in Korea for 2nd year
Xi, a Korean apartment brand owned by GS Engineering & Construction, was named the top Korean brand by the 2017 Apartment Brand Power, an annual survey conducted by a real estate research firm showed Wednesday. According to Drapt.com’s survey, which asked 1,940 people about their preferences among 40 different Korean apartment brands between Oct. 30 and Nov. 5, Xi topped the other brands in all three categories: brand awareness, preference and value. (Yonhap)This is the second year that Xi has
Nov. 8, 2017
-
Samsung to sell off W1tr of stakes in Hanwha General Chemical
Samsung is moving to sell its stakes in Hanwha Group’s chemical unit, the group said in a regulatory filing Wednesday.Samsung Group’s trading unit Samsung Construction and Trading currently owns a 20.1 percent stake in Hanwha General Chemical, and Samsung SDI has 4.05 percent stake in the same chemical business.If the entire 24.1 percent stake is sold, Samsung Group can expect to receive around 1 trillion won ($898 million). (Yonhap)Samsung Group’s 24.1 percent stake in the chemical unit is lef
Nov. 8, 2017
-
Distribution firms' R&D spending lags behind others
South Korean retailers and wholesalers lag far behind other firms in spending on research and development and the adoption of new technologies, despite the ongoing the fourth industrial revolution, a report said Wednesday.The local distribution industry's ratio of R&D expenditure to sales came to 0.5 percent in 2015, lower than the industrial average of 2.8 percent, according to the report by the Hyundai Research Institute.The figure compared with the median 3.3 percent for the manufacturing sec
Nov. 8, 2017
-
Defense firm LIG Nex1 completes new R&D center
Local defense firm LIG Nex 1 completed its new space and avionics research and development center on Wednesday that will specialize in developing guided munitions.The company spent 130 billion won ($116.74 million) over a 22-month period on the center, named Daejeon House. The latest facility will complement other R&D centers the company operates throughout the country, officials said. Photo courtesy of LIG Nex1 (Yonhap)It covers 41,000 square meters inside the Innopolis Daedeok, a special R&D z
Nov. 8, 2017
-
Retailers prep for possible return of Chinese tourists
South Korea's major retailers are pumping up efforts to prepare for a potential inflow of Chinese tourists amid signs of a thaw in Sino-Korean relations, industry sources said Wednesday.Last week, Seoul and Beijing agreed to put bilateral ties back on track, setting aside their bitter row over the deployment of a US missile defense shield here and raising hopes for the return of Chinese visitors.The showdown, which led to Beijing's ban on group tours to South Korea, has dealt a harsh blow to loc
Nov. 8, 2017
-
Food companies expecting recovery in China business
Local food companies are expecting a recoup of their Chinese business from eased Seoul-Beijing diplomatic tensions as their sales already show signs of improvement, industry sources said Wednesday.South Korea and China issued simultaneous statements last week saying they will put their relations back on a normal track, a sign that they will work past their conflict over the deployment of a US missile defense shield in South Korea. The spat that continued for over a year seriously hurt South Kore
Nov. 8, 2017
-
KEPCO Q3 net drops 45% on increased costs
Korea Electric Power Corp., a major public utility firm in South Korea, said Tuesday that its net profit dropped almost 45 percent in the third quarter of the year from a year earlier due to increased fuel costs.Net profit reached 1.62 trillion won ($1.46 billion) on a consolidated basis in the July-September period, compared to a profit of 2.94 trillion won a year earlier, the company said in a regulatory filing.Operating income also sank 37.3 percent on-year to 2.77 trillion won, while sales i
Nov. 7, 2017
-
Celltrion says switching study for Truxima successful
Celltrion said Tuesday that it will present new data in the US showing that its biosimilar drug Truxima is comparable to Roche’s Rituxan in terms of efficacy, pharmacodynamics and safety, citing the conditions of rheumatoid arthritis patients who have switched to Truxima in place of the reference drug. The clinical findings will be presented at the 2017 American College of Rheumatology Annual Meeting in San Diego, California, on Tuesday, local time.A total of 295 patients participated in the ext
Nov. 7, 2017
-
Hyundai Rotem wins W177b train order in India
Hyundai Rotem, a train manufacturing unit of Hyundai Motor Group, has won a deal worth 177 billion won ($159 million) to provide unmanned subway cars to India, the company said Tuesday.Under the deal, the South Korean company plans to deliver a total of 96 subway cars to the Metro Link Express for Gandhinagar and Ahmedabad, between April 2019 and July 2020. (Yonhap)The subway cars will be operated on the 20.7-kilometer route that connects the east and west regions of Ahmedaba province in the cou
Nov. 7, 2017
-
Mercedes-Benz, BMW, Toyota to recall vehicles for defects
A total of 56,084 vehicles by companies including Mercedes-Benz, BMW and Toyota will be recalled to fix defective parts, officials at the Transport Ministry said Tuesday. Mercedes-Benz Korea, local importer and distributor of the German luxury car, has recalled 323 vehicles including GLC 22d compact SUVs sold here between 2016 and 2017. They will be subject for the replacement of front and rear window as the parts are loosely attached, the ministry said. (Yonhap)Four Volkswagen models including
Nov. 7, 2017
-
HanSung Motor chief gives lecture on luxury car marketing
The head of HanSung Motor, the largest dealer of Mercedes-Benz in South Korea, gave a special lecture on marketing and branding of luxury cars at Yonsei University’s Songdo Campus, the company said Tuesday.Dr. Ulf Ausprung who has led HanSung Motor since 2011 introduced data on Korea’s luxury car market in general and marketing strategies being targeted for the local market, they added. HanSung Motor CEO Dr. Ulf Ausprung gives a lecture at Yonsei University’s Songdo Campus on Monday. (HanSung Mo
Nov. 7, 2017
-
Hyundai Card responds to company sexual assault allegations
Hyundai Card, an affiliate of Hyundai Motor Group, has made an official acknowledgement of a claim of sexual assault among its employees, while disputing allegations that the company mishandled the incident.Hyundai Card posted an official response to the allegations Monday on its official Facebook account, after the alleged victim raised the issue on Saturday via a blog post that went viral online.In the post, an ex-employee of the company claimed that she was raped by a co-worker in May and rep
Nov. 7, 2017