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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Pianist Lim Yunchan double winner at Gramophone Awards
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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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Line Friends to preview 1st US character store
Line Friends, the character merchandising unit of Japan-based mobile messenger Line, will open its first store in the US at Times Square in New York City on July 21, the company announced on Twitter.According to Line Friends, July 21 will mark the store’s “pre-opening” ahead of the official grand opening day slated for August. This is so that the firm can have time to test operate and optimize the store in line with consumer needs before the official opening, a company spokesperson said Wednesda
July 19, 2017
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SK Telecom gets approval to test self-driving cars in Korea
SK Telecom said Wednesday it was granted permission by the government to test autonomous cars on public roads using Hyundai vehicles. SKT, which is the first local mobile carrier to gain the approval, said it plans to develop a self-driving car with Hyundai’s luxury vehicle Genesis G80 in partnership with Seoul National University and the US chipmaker Nvidia. The latest announcement is part of the firm’s self-driving efforts, which include unveiling the 5G connected car solution T5 in partnershi
July 19, 2017
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Samsung’s voice assistant Bixby available in US
Samsung Electronics said Wednesday it had launched the long-awaited English version of Bixby in the US and Korea. The English version was originally planned to be unveiled in May but was delayed due to an issue related to data, which is key to deep learning technology. Samsung said the issue has mainly been addressed after launching the beta test for some US consumers last month. (Yonhap)Bixby is Samsung’s artificial intelligence service available on the firm’s latest flagship smartphones, the G
July 19, 2017
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Hyundai to focus on Europe to offset losses in China
Top representatives of Hyundai Motor Group's overseas sales networks said Wednesday they will focus on Europe and Latin America in the second half of 2017 to boost sales and offset lower demand in China. In a meeting held at the automotive group's headquarters in southern Seoul, overseas sales managers discussed ways to cope with conditions in China that affected overall performance in the first half, the company said in a statement. Representatives, while vowing to revive sales in China, stress
July 19, 2017
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Posco hosts forum to encourage use of cutting-edge tech
As the first steelmaker in the world to construct a smart factory for steel production, Posco said at a forum Wednesday that applying the system to the entire manufacturing process and eventually combining smart technology to management is key to maximizing performance.During the Smart Posco Forum 2017, Posco Chairman Kwon Oh-joon delivered a speech, saying, “In the era of the ‘fourth industrial revolution,’ Posco must continue to take on challenges to realize a smart Posco.”“We will expand the
July 19, 2017
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GS chairman stresses bold investments in face of uncertainty
GS Group Chairman Huh Chang-soo (GS Group)GS Group Chairman Huh Chang-soo on Wednesday emphasized the importance of making bold investments ahead of others for growth in the fast-changing industrial landscape at a meeting with executives.Some 150 executives of GS affiliates participated in the meeting held to prepare for the third quarter at GS Tower in Gangnam district, southern Seoul. “The more uncertain the future is, the more we need to make bold investment choices ahead of others to secure
July 19, 2017
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Hanmi Pharm's Esomezol listed in US drug encyclopedia
Major South Korean drugmaker Hanmi Pharmaceutical Co. said Thursday that its anti-ulcer drug Esomezol was listed with the United States Pharmacopeial Convention.It marks the first time for a local pharmaceutical company to gain international accreditation through the USP, a scientific nonprofit organization that sets global standards for medicine, food ingredients and dietary supplements around the world. (Yonhap)Esomezol was the first incrementally improved drug for the treatment of gastroesoph
July 19, 2017
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Samsung Heavy inks conditional deal for 2 ships
Samsung Heavy Industries Co., a major shipyard here, said Wednesday that it has clinched a 271 billion won ($242 million) deal to build two ships.The deal, however, is subject to final approval from the buyer, it said in a regulatory filing.Samsung Heavy did not reveal the name of the customer adding that it will make another regulatory filing if the contract is signed. (Yonhap)The shipyard said earlier it has won $4.8 billion worth of orders to build 13 ships, including two offshore plants, in
July 19, 2017
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Korea aims to generate 20% of electricity with renewables by 2030
South Korea aims to generate 20 percent of its electricity with clean, renewable energy by 2030, while reducing its reliance on fossil fuel and nuclear power plants, the new Moon Jae-in administration said Wednesday. In a policy report to President Moon Jae-in, who took office in May, the State Affairs Planning Advisory Committee said it will encourage big companies and small merchants to use renewable energy by offering financial incentives and other promotional packages. By 2023, the governmen
July 19, 2017
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High court reduces sentence for Lotte founder‘s daughter over embezzlement
A Seoul appellate court on Wednesday lowered the jail term for the daughter of the Lotte Group founder charged with embezzlement and breach of trust. The Seoul High Court handed down a two-year sentence on Shin Young-ja, head of the Lotte Foundation, saying that it allowed for the fact that she has paid back most of the misappropriated funds. Shin, 75, was sentenced to three years in prison in January for receiving bribes from various companies in return for business favors related to Lotte's du
July 19, 2017
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Sales of DRAM, NAND flash memory to hit record high in 2017
Global sales of dynamic random-access memory chips and NAND flash memories are expected to set a new record in 2017, data showed Wednesday, with South Korean chipmakers anticipated to become the main beneficiaries of the industrywide boom."The strong annual upturn in sales is being driven almost entirely by fast-rising average selling prices," industry tracker IC Insights said. "Prices for DRAM and NAND first began increasing in the second half of 2016 and continued with quarterly increases thro
July 19, 2017
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Exports of industrial parts, materials rise 10.5% in H1
South Korea's exports of industrial parts and materials rose 10.5 percent in the first six months of this year on firm global demand, government data showed Wednesday.Outbound shipments of industrial parts and materials stood at $134.4 billion in the January-June period, according to the data compiled by the Ministry of Trade, Industry and Energy.On a six-month basis, it marked the first double-digit growth since the first-half of 2011. (Yonhap)Imports also rose 9.6 percent on-year to $81.4 bil
July 19, 2017
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Hyundai Vice Chairman Chung to attend plant opening in China
Hyundai Motor Co. Vice Chairman Chung Eui-sun will attend a plant opening event in China this week amid declining sales in the world's biggest automobile market, the company said Tuesday.Chung is set to be present at the Chongqing assembly line in southwest China on Wednesday, the carmaker said. The company's fifth Chinese plant is scheduled to start operations in the second half, a company spokesman said. Chung Eui-sun (Yonhap)He didn't provide the plant's capacity or other details as the comp
July 18, 2017
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Kia workers vote to strike as sales decline
Unionized workers at Kia Motors Corp. voted to go on strike after wage talks with the management recently broke up, the carmaker's union said Tuesday. The vote comes as the carmaker struggles with slowing sales in major markets such as China and the United States due to diplomatic rows and lack of new models, respectively. In the vote held from Monday to Tuesday, 24,871, or 72.1 percent of Kia's 28,240-strong union workers, agreed to a walkout in case of no agreement being reached with managemen
July 18, 2017
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Meeting minutes show debate on details of suspending reactor construction
Minutes from last week's nuclear board meeting that decided on the temporary suspension of reactors under construction showed that the board members had also debated what to do after the suspension period ends and compensation measures, lawmakers who obtained the minutes said Tuesday.When Korea Hydro and Nuclear Power held a meeting of its board of directors on Friday, the 13 members discussed what they should do if a final decision on the new reactors cannot be reached within the given three-mo
July 18, 2017
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Hyundai Heavy, affiliate see sharp rise in June orders
Hyundai Heavy Industries Co. and its affiliate, Hyundai Mipo Dockyard Co., said Tuesday that their new orders surged in June.In a regulatory filing, Hyundai Heavy said it bagged orders valued at $2.25 billion last month, up 16 percent from a year earlier. (Yonhap)Hyundai Mipo also said it clinched $1.51 billion worth of orders in the one-month period, marking a sharp rise from $156 million tallied in June 2016.Hyundai Heavy said earlier that it and its two affiliates, including Hyundai Samho Hea
July 18, 2017
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‘Samsung not enthusiastic about AI speaker’
Samsung Electronics may not launch an artificial intelligence speaker anytime soon due to marketable issues, said a source familiar with the matter. There has been growing speculation over whether Samsung will soon roll out an AI speaker, following reports of its development of one powered by voice assistant Bixby. The project codenamed Vega has reportedly progressed for more than a year.“Samsung currently does not view Al speakers as marketable, as the global market is already dominated by unbe
July 18, 2017
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Starfield Goyang set to open in August
The third mall under Shinsegae’s Starfield brand has set its opening date for Aug. 24, according to Shinsegae Property on Tuesday.Starfield Goyang in Goyang, Gyeonggi Province, will span 365,000 square meters and will include a kids’ theme park and Shinsegae’s flagship outlets such as Shinsegae Department Store and Emart Traders. An image of an entrance to Toy Kingdom in Starfield Goyang (Shinsegae)Other entertainment facilities previously showcased at Starfield Hanam, including Aquafield and S
July 18, 2017
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Japanese brands top imported beer in Korea
Japanese beer topped sales in South Korea's imported beer market this year, industry data showed Tuesday, amid the rising popularity of foreign beer here. According to the data compiled by Lotte Mart, Japanese brands accounted for some 22.2 percent of imported beer sold at the discount store outlet of retail giant Lotte Group through Sunday this year.Japanese beer also ranked first last year with a 21.5 percent share, followed by German beer at 19.9 percent and Belgium at 11.3 percent. Chinese b
July 18, 2017
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Kumho sticks to guns on brand rights
The executive board of Kumho Industrial on Tuesday proposed a revised offer regarding the Kumho Tire brand, partially accepting creditors’ version but remaining firm on who pays fees for the brand.“The executive board of Kumho Industrial has decided to accept the revised offer from Korea Development Bank of paying 0.5 percent of sales for 12.5 years for brand rights to Kumho Tire,” Kumho Asiana said through a statement. However, Kumho Asiana said that while it agreed to the 0.5 percent rate at
July 18, 2017