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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LG Electronics' Russian arm charged with antitrust violation
Russia's state antitrust body indicted LG Electronics Inc.'s Russian arm on allegations that the South Korean company fixed smartphone prices, industry sources said Thursday.According to Russia's Tass news agency, the authority claimed that LG Electronics RUS used a special monitoring system on retailers to control smartphone prices. (Yonhap)The South Korean tech giant is expected to face massive fines if the allegations turn out to be true.LG Electronics RUS said other companies also use monito
June 29, 2017
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Samsung maintains status as top maker of smartphone displays in Q1
Samsung Display Co. maintained its status as the world's No. 1 smartphone display maker in the first quarter, market data showed Thursday, apparently helped by robust shipments of flexible organic light-emitting diode products.According to the data compiled by industry tracker IHS Markit, the combined global sales of LCD and OLED displays that are 9 inches or smaller came to $13 billion in the January-March period, up 35 percent from a year earlier. (Yonhap)Samsung Display posted sales of $3.5 b
June 29, 2017
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GS Group expands opportunities in the US energy market
GS Group, a South Korean energy and engineering giant, has laid out plans to reinforce the competitiveness of its major businesses, discover unique growth engines and expand overseas projects.“Since its launch, GS has consistently pushed toward overcoming the limits of the domestic market to expand its business territory and adopt global strategies to create more jobs,” said GS Group Chairman Huh Chang-soo. GS Group has been solidifying its foothold as a representative exporter, well-illustrated
June 28, 2017
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Hyosung honors Korean War veterans in US
Hyosung Group thanked US veterans who fought in the 1951-53 Korean War for their sacrifice and courage at an event held in Huntsville, Alabama, officials said Wednesday.The South Korean conglomerate invited 65 veterans and their families in Alabama, where the head office of its US operation is located. Hyosung USA manufactures auto materials including tire cords and in-vehicle carpets for global carmakers and tiremakers that also operate plants in Alabama. “We express gratitude and pay respects
June 28, 2017
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LS Group bets big on US power infra market
US President Donald Trump’s campaign pledge to expand public investment on infrastructure could be seen as only benefitting local companies there. But for LS Group, a South Korean conglomerate that runs power and cable businesses, Trump’s pledge on the public sector appears to be a golden opportunity.Such confidence comes from its 2008 acquisition of a US cable maker, Superior Essex (SPSX), which is the No. 1 maker of winding wire products and communication cables in North America.The deal made
June 28, 2017
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Korean municipality to sell canned pure air in cooperation with Canadian firm
HADONG -- The town of Hadong in southeastern South Korea will sell canned fresh mountain air in a tie-up with a Canadian company amid growing concerns about air pollution, municipality officials said Wednesday.The municipality said it will hold a ceremony on Friday to mark the dedication of a plant on a site of 99 square meters in the town's Uisin Village to produce canned air coming from Mount Jiri in the region.According to them, the can of pure air with the trademark of Jiri Air, which carrie
June 28, 2017
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Hanwha chairman at vanguard of Korea’s business ties with US
Hanwha Group Chairman Kim Seung-youn has been at the vanguard of fostering business cooperation with the United States, years before uncertainties emerged upon the inauguration of US President Donald Trump, who has expressed skepticism toward the two countries’ free trade agreement.Kim’s ties with leading business figures in the US, including Heritage Foundation President Edwin Feulner, has made him one of the rare South Korean business representatives who is able to bridge the differences betwe
June 28, 2017
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Guri-Pocheon Expressway to open Friday
The new Guri-Pocheon Expressway is slated to open to drivers starting from Friday midnight.According to Daewoo Engineering & Construction, the new 50.6-kilometer stretch of highway will shorten the driving distance from the Seoul Gangdong region to Pocheon by 7 kilometers, condensing the drive from the current 70- to 90-minute trek to 30 minutes. A view of the new Guri-Pocheon Expressway (Daewoo E&C)“As it is the first highway constructed in the northeastern part of Seoul, it is expected to con
June 28, 2017
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LG Electronics to tap deeper into chiller market
South Korean electronics firm LG Electronics Inc. said Wednesday it plans to tap deeper into the global chiller market currently dominated by U.S. rivals.The South Korean tech giant said the chiller market could become a new growth engine for its air-conditioning business, claiming that its sales will grow 10 percent annually down the road. A worker stands in LG Electronics Inc.'s production facility of chillers, located in Pyeongtaek, south of Seoul, in this photo released by the company on Jun
June 28, 2017
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Samsung launches ISOCELL image sensor brand
Samsung Electronics Co. on Wednesday showcased its own image sensor brand dubbed ISOCELL, tapping deeper into the sector amid the rising demand from the Internet of Things industry.The South Korean tech giant said it introduced the brand during the Mobile World Congress Shanghai. Image sensors refer to system chips which detect images and transmit them into electronic signals. (Yonhap)Market watchers said Samsung's move to launch the ISOCELL brand came amid the rising demand for the products fro
June 28, 2017
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Green Cross’s immunodeficiency drug to debut in US soon
Green Cross will soon be ready to make its full-fledged debut in the US market, with the aim of taking a share of the world’s largest pharmaceuticals market.The Korean biopharmaceuticals company is expected to win the US Food and Drug Administration’s approval for its immunodeficiency drug IVIG-SN -- human normal immunoglobulin G for intravenous administration -- within this year, according to the firm and analysts. IVIG-SN, exclusively developed by Green Cross, treats primary immunodeficiency d
June 28, 2017
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Korean Air, Delta offer closer connectivity in Pacific
Korean Air has been making aggressive moves to expand its operation in the US, most recently by joining hands with Delta Air Lines to offer more efficient connectivity between Asia and the United States through merging the two airlines’ operations in the Pacific.On June 23, the two Skyteam airlines sealed the joint venture agreement at a ceremony in Los Angeles.“Korean Air has the most routes in the Asia-Pacific region, while Delta is the world’s largest airline with an extensive network in the
June 28, 2017
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Doosan Heavy sinks on construction halt of 2 nuke reactors
Doosan Heavy Industries & Construction Co., South Korea's top power equipment maker, traded sharply lower Wednesday after the government said it would halt the construction of two nuclear reactors for three months in order to gauge public opinion on the atomic power generation.Doosan Heavy stocks were trading at 20,600 won ($18) on the Seoul bourse as of 1:30 p.m., down 4.63 percent from the previous session's close and nearing their lowest level in one year. (Yonhap)On Tuesday, the government s
June 28, 2017
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Lotte eyes consulting body to boost biz efficiency of its retail affiliates
South Korea's fifth-largest conglomerate Lotte Group said Wednesday it plans to create a consultative body to boost business efficiency for its retail affiliates.The retail giant said the group will be comprised of teams in charge of procurement, facility, design, public relations and new businesses at its 14 retail-related affiliates.Employees enter a Lotte Group office building in downtown Seoul on Aug. 26, 2016. (Yonhap)The plan is aimed at improving business efficiency and maintaining consis
June 28, 2017
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Micro EVs set to hit Korean market
A range of ultra-small electric vehicles are poised to hit the South Korean market amid growing consumer interest in eco-friendly cars that can be bought cheap with state subsidies, industry sources said Wednesday.Renault Samsung Motors Corp., the South Korean unit of French carmaker Renault S.A., and local smaller players are set to tap into the market for battery-powered micro EVs that have emerged as a new means of urban transport.Renault Samsung's Twizy micro electric vehicle (Photo courtesy
June 28, 2017
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Jeju Air to open Nha Trang route in July
Jeju Air Co., a South Korean low-cost carrier, said Tuesday it will start flights to Vietnam's Nha Trang starting next month.The route is the latest move by the budget carrier to expand into Southeast Asia and Japan not only to absorb the growing travel demand but also to offset sharp declines in passengers from China.Beijing banned the sale of travel packages to South Korea starting March 15 in retaliation against Seoul's deployment of the Terminal High Altitude Area Defense system. A Jeju Air
June 27, 2017
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Proposed legislation seeks equal taxes for heated tobacco products
A new bill seeking to apply equal taxes to heated tobacco products as those imposed on combustible cigarettes in Korea was introduced to the National Assembly earlier this month, claiming that all harmful tobacco products must be regulated the same way. IQOS from Philip Morris International (PMI)According to the National Assembly‘s Bill Information System, Rep. Kim Kwang-lim of the Liberty Korea Party has prepared bills to revise three laws that govern taxation on tobacco products to allow equal
June 27, 2017
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LG makes major push into energy, automobiles in the US
LG Group is making a major push into energy storage and automotive electronics in the US market in seeking the group’s next growth engine. LG’s tech arms, LG CNS, LG Chem and LG Electronics, have recently jumped into the US market with its energy storage system, or ESS business. ESS captures energy produced for use at a later time, aiming to improve energy efficiency.The US ESS market -- which is fast growing and already the world’s largest due to its aging grid infrastructure -- is predicted to
June 27, 2017
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Investigation against LNG bidding collusion to wrap up next month
The Seoul Central District Prosecutor’s Office announced Tuesday it is speeding up its investigation into alleged large-scale collusion among Korea’s major construction companies, which are suspected of bid rigging a project to build liquefied natural gas storage tanks. Last year 13 construction companies, including Hyundai E&C, Daewoo E&C and Daelim E&C, were slapped with 351.6 billion won ($309.2 million) in fines by the Fair Trade Commission after the governmental watchdog accused the builde
June 27, 2017
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Samsung to release refurbished Galaxy Note 7 on July 7
Samsung Electronics Co. plans to release the refurbished edition of the ill-fated Galaxy Note 7 smartphone next month, industry sources said Tuesday.According to the sources, Samsung will release the smartphone under the name the Galaxy Note FE, with a price tag below 700,000 won ($616). Official sales are slated to start July 7. (Yonhap)The South Korean tech giant suspended production and sales of the Galaxy Note 7 last year amid reports that some of the devices caught fire while charging. A pr
June 27, 2017