Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Man escapes DUI charges by downing bottle of soju while pulled over
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Pay debate plagues foreign nanny pilot
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K-pop star lip-syncing controversy flares up again
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35% of S. Koreans view unification 'unnecessary'
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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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[Reporter’s Notebook] Was Netflix film opening BIFF really a bad thing?
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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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Controversial cult leader’s sentence reduced to 17 years
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Korean goods' presence in China dips to 3-yr low amid THAAD row
South Korean-made goods are losing their ground in the Chinese market, one of their largest overseas markets, amid a diplomatic row over the deployment of a US missile defense system here, industry data showed Monday.According to the data compiled by the Korea International Trade Association, South Korean products accounted for 9.4 percent of China's import market in the first half of the year, marking the lowest since 2014, when the comparable figure was 9.7 percent.South Korean goods' presence
Aug. 7, 2017
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Sales of picnic items increase in July: data
Sales of picnic-related products surged during the peak summer vacation season last month, with more South Koreans opting for one-day trips instead of pitching tents for overnight camping, industry data showed Monday. According to the data compiled by the country's largest discount chain E-Mart, the sales of sun shelters rose 6.1 percent in July compared with the same period last year, with the combined sales of mats and blankets also jumping 15 percent on-year. People rest along the Han River
Aug. 7, 2017
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BAT sets to roll out tobacco heating device Glo in Korea
British American Tobacco is to roll out its own tobacco heating device in mid-August to compete in the Korean market, where demand for such devices is increasing.BAT Korea will hold a press conference Thursday to promote its own heat-not-burn tobacco device Glo, and disclose when the device will be on sale here, company officials said Sunday. (British American Tobacco Korea)The company is hoping to boost sales by filling the increasing local demand, which Philip Morris International’s heat-not-b
Aug. 6, 2017
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Samsung Elec. registers more than 19 patents per day in US
(Herald DB)South Korea's tech giant Samsung Electronics Co. registered an average of 19 patents per day in the United States in the first seven months of the year, industry data showed Sunday.According to the data by U.S. online journal Quartz, a total of 4,143 patents were registered by Samsung Electronics through Aug. 1, with a daily 19.5 patents on average.It ranked second among technology firms in terms of patent registers in the world's largest economy, after IBM Corp., which posted 5,797 p
Aug. 6, 2017
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Posco donates lighter sleds to Paralympic ice hockey team
Posco‘s chief operating officer Oh In-hwan (sixth from right, second row) poses for a photo session after delivering custom-made sleds to be used by South Korea’s Paralympic ice-sledge hockey at a sports complex in Seongnam, Gyeonggi Province last week. (Posco)Posco, South Korea’s leading steelmaker, donated 25 custom-made sleds for the country’s Paralympic ice-sledge hockey team participating in the 2018 PyeongChang Winter Paralympic Games, the company said Sunday. “Posco has been supporting th
Aug. 6, 2017
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SK E&C signs deal to modernize Iranian oil plant
SK Engineering & Construction Co., a South Korean builder, said Sunday that it has signed a $1.6 billion deal with an Iranian company to carry out an oil refinery modernization project.Under the agreement with Tabriz Oil Refining Co., an affiliate of Parsian Oil and Gas Development Group Co., the South Korean builder will renovate and upgrade the gasoline and diesel manufacturing facilities in the Tabriz oil refinery compound, some 600 kilometers northwest of Tehran, according to SK E&C. In this
Aug. 6, 2017
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Per capita life insurance up at slowest pace in 2016
The insured amount per policy holder in South Korea rose at the slowest clip last year due mainly to a drop in insurance sales, industry data showed Sunday.A life insurance policy holder had some 47.6 million won ($42,200) in insured amount in 2016, up 0.2 percent from a year earlier, according to the data compiled by the Korea Life Insurance Association. (Yonhap)The on-year gain tied the slowest pace of 0.2 percent set in 2011, compared with 5.8 percent growth in 2015.Industry watchers said the
Aug. 6, 2017
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Construction balance surplus drops 22.8% in first half
South Korea's construction balance surplus fell 22.8 percent in the first six months of this year from a year earlier, central bank data showed Saturday.The country's construction balance surplus reached $3.14 billion in the January-June period, compared with a surplus of $4.07 billion a year earlier, according to the preliminary data from the Bank of Korea.The half-year figure is the lowest since the second half of 2006, when the construction balance surplus came to $3.02 billion. (Yonhap)South
Aug. 6, 2017
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[Newsmaker] Driven by Galaxy S8, Samsung retakes top spot in US
Samsung Electronics has reclaimed the top spot in the North American smartphone market from its rival Apple, driven by strong sales of its latest flagship smartphone Galaxy S8, according to a US report. In the second quarter, the world’s largest smartphone maker by sales grabbed a 33 percent share in the US market, shipping 13.4 million units of smartphones, according to a report released by Strategy Analytics on Wednesday. Apple took a 25 percent share with 10.1 million units of sales in the sa
Aug. 4, 2017
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Imported car sales soar 12% in July
Sales of imported vehicles in South Korea rose some 12 percent last month from a year earlier on steady demand for popular brands, industry data showed Friday. The number of newly registered foreign-made cars stood at 17,628 units in July, up 12.1 percent from 15,730 units a year earlier, the Korea Automobile Importers and Distributors Association said in a statement. (Yonhap)But compared to June, the July sales marked a 25.8-percent drop, according to the data.The association said the on-month
Aug. 4, 2017
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Frozen desserts sales soar amid heat wave
Sales of ice and frozen desserts are gaining huge popularity in South Korea amid a prolonged heat wave and tropical nights, industry data showed Friday. (Yonhap)Homeplus Co., a major retailer, said night time -- from 10 p.m. to 4 a.m. -- sales at its convenience store chain in July increased 2.7 percent from a year earlier.Among others, the sales of 1 kilogram sack of ice jumped 46.2 percent and the sales of cups of ice and ice cream products also rose 11.8 percent and 7.1 percent, respectively,
Aug. 4, 2017
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More German car owners to file lawsuit against manufacturers
A group of South Korean consumers will file a compensation lawsuit next week with a local court against three German automakers accused of lying about diesel emissions and collusion, a local lawyer said Friday.Six people who own Porsches, BMWs and Mercedes Benzes are expected to file their case with the Seoul District Court on Monday, represented by attorney Ha Jong-sun of Barun Law. Ha is also the lawyer for another group of consumers who had filed a similar lawsuit in 2015 against Volkswagen a
Aug. 4, 2017
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Hyundai Motor chairman, highest-paid chaebol head
Hyundai Motor Chairman Chung Mong-koo was the top earner among leaders of family-controlled conglomerates last year in South Korea, data showed Thursday.The Economic Reform Research Institute said in its analysis of executives’ annual paychecks that Chung earned 9.3 billion won ($8.25 million) from Hyundai Mobis and Hyundai Motor, two core operating units under Hyundai Motor Group. Chung has topped the list for the third consecutive year, the report said. Hyundai Motor Chairman Chung Mong-koo (Y
Aug. 3, 2017
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Green car market led by EVs, Hybrids
South Korea’s green car market grew 23.7 percent on-year in the first half of the year, led by domestic brands’ electric vehicles and hybrids from Japanese carmakers.According to data compiled by the Korea Automobile Manufacturers Association and Korea Automobile Importers and Distributors Association, 40,978 eco-friendly vehicles were sold here from January to June. (Yonhap)Though still small in number, the growth of green cars was considered fast. In contrast, the number of cars across all ty
Aug. 3, 2017
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Semiconductor market on pace for 16% growth this year: report
The global semiconductor market, of which Korea’s Samsung Electronics and SK hynix currently account for roughly 70 percent, is continuing to expand amid strong international demand, with industry experts forecasting the market size to jump roughly 16 percent on-year in 2017, according to a report released by IC Insights on Thursday. Following higher-than-expected chip sales trends, IC Insights’ 16 percent rise projection has more than tripled from its previous estimate of 5 percent earlier thi
Aug. 3, 2017
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Jeju Air Q2 net soars on strong demand for low-cost travel
Jeju Air Co., one of South Korea's leading budget carriers, said Thursday its net profit more than tripled in the second quarter from a year earlier on higher low-cost travel demand.In the three months that ended on June 30, net profit soared to 15.1 billion won ($14 million) from 4.6 billion won a year earlier, the company said in a statement."In the second and fourth quarters when demand is relatively lower than the other two quarters, we focused on attracting customers with lower ticket price
Aug. 3, 2017
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Sales of eco-friendly cars jump 24 pct in H1
The sale of environment-friendly vehicles surged 24 percent in the first half from a year earlier on improving infrastructure and government subsidies, industry data showed Thursday. (Yonhap)In the January-June period, domestic and foreign carmakers sold a total of 40,978 environment-friendly vehicles, up from 33,123 units an year earlier, according to data from the Korea Automobile Manufacturers Association and the Korea Automobile Importers and Distributors Association.During the same period,
Aug. 3, 2017
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Audi Volkswagen steps up efforts to resume sales in Korea
Audi Volkswagen Korea Ltd., a global sales unit of Audi AG, is speeding up preparations to resume sales in South Korea within this year, Seoul officials said Thursday. On July 25 last year, Audi Volkswagen Korea, which was selling passenger cars under marques such as Audi, Bentley, Lamborghini, Porshe and Volkswagen, voluntarily stopped selling its vehicles in the country. Back then, the Seoul government was about to ban the sale of almost all Audi and Volkswagen cars while imposing heavy fines
Aug. 3, 2017
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Samsung beats Apple in Q2 smartphone shipments in N. America
Samsung Electronics Co. beat its archrival US Apple Inc. in smartphone shipments in the North American market for the second quarter, industry data showed Thursday, returning as the No. 1 player.According to the data compiled by industry tracker Strategy Analytics, the South Korean giant took up 33.3 percent of the North American smartphone market over the cited period by shipping 14 million units.Apple, on the other hand, sold 10.1 million units, which translates into a 24 percent market share
Aug. 3, 2017
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LG to adopt 'OLED Full Vision' on new flagship smartphone
LG Electronics Inc. said Thursday it plans to adopt what it calls organic light-emitting diode Full Vision display for its new flagship smartphone set to be showcased later this month.The latest display marks an update from the 18:9 ratio Full Vision display that was adopted by the G6 smartphone, which boasted a nearly bezel-less design. This photo released by LG Electronics Inc. on Aug. 3, 2017, shows the bottom part of the presumed LG V30 smartphone. (Yonhap)The South Korean consumer tech gian
Aug. 3, 2017