Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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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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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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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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[KH Explains] Is private equity giant MBK a risk-taker or renegade?
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Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
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[From the Scene] Hyundai Mobis catalyzes electrification with new mobility tech
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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DJI rolls out mini-drone Spark for beginners
DJI revealed its latest mini-drone Spark on Tuesday, aiming to expand its consumer base beyond drone enthusiasts with a lightweight, easy-to-use model.“It‘s easy to use, so we are targeting people who are using drones for the first time,” Moon Tae-hyun, DJI Korea’s country manager, told reporters at a press conference at the DJI Arena in Yongin, Gyeonggi Province. DJI Korea Country Manager Moon Tae-hyun holds the Spark at the DJI Arena in Yongin, Gyeonggi Province Tuesday. (DJI)Weighing in at ju
May 30, 2017
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Booyoung chairman publishes fifth history book
Booyoung Group Chairman Lee Joong-keun has published his fifth history book titled “385 Years of the Chosun Dynasty’s Establishment Written the Woojung Way” (provisional translation). Woojung is Lee’s pen name. Lee, as well as 300 guests, including former Speaker of the National Assembly Park Kwan-yong, former Prime Minister Han Seung-soo, former Prime Minister Kim Hwang-sik and President of Seoul National University Sung Nak-in participated in a publication event held at Sejong Center for the P
May 30, 2017
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Samsung SDI expands presence in Europe
Samsung SDI President Jun Young-hyun (left) shows materials used to make lithium-ion batteries to Hungarian Prime Minister Viktor Orban (center) at the company’s new plant in Goed, Hungary, Monday.(Samsung SDI)Samsung SDI, a leading South Korean battery maker, has completed the construction of a battery plant for electric vehicles in Hungary, looking to expand its presence in Europe and create synergy with other overseas plants, the company said Tuesday.The new plant is a former production line
May 30, 2017
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[Photo News] Hyundai Motor donates school buses to welfare institutions
NEW RIDE -- Children and social workers pose for photo in front of new school buses donated by Hyundai Motor at a motor show event held in Goyang, Gyeonggi Province, Sunday. The carmaker has donated five buses -- four Starex and one Solati -- to welfare institutions as part of a joint project with Citizens’ Coalition for Safety to raise public awareness on traffic safety for kids. (Hyundai Motor)
May 30, 2017
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Posco rallies 79,000 workers for Global Volunteer Week
Posco, South Korea’s leading steelmaker, hosted the annual Posco Global Volunteer Week, the company said Tuesday.Some 79,000 Posco employees working in and out South Korea across 52 countries participated in the eighth volunteer event that took place from May 24 until 30. Posco Chairman Kwon Oh-joon (right) participates in a volunteer event repairing a historical landmark lecture hall in Sungkyunkwan University. (Posco)On the last day, Posco Chairman Kwon Oh-joon visited the historical landmark
May 30, 2017
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[Advertorial] Samsung C&T helps Habitat for Humanity
As part of its corporate social responsibility efforts, Samsung C&T is continuing the company’s global humanitarian contributions through its C&T Village and Dream Tomorrow programs. As a construction and engineering firm, the company established the C&T Village program in 2014. The program is a residential improvement project in cooperation with Habitat for Humanity Korea building new homes, restrooms and improving drinking water hygiene in fiscally struggling villages worldwide. Participants
May 30, 2017
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Celltrion Healthcare IPO expected in August
Celltrion Healthcare is expected to complete its initial public offering before mid-August, as regulators are set to wrap up their special audit of the company with a mere “warning” and make way for the continuation of the IPO.According to local reports Tuesday, the Korean Institute of Certified Public Accountants has concluded its in-depth audit of Celltrion Healthcare’s accounting practices and will present the results to the Financial Services Commission’s Audit and Inspection Office for a fi
May 30, 2017
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Korean firms' sales in 2016 up on slowdown in oil price decline
Combined sales of South Korean companies rose 1.1 percent in 2016 from a year earlier due to a slowdown in the decline in oil prices and a brisk housing market, central bank data showed Tuesday.The annual figure marked a turnaround from 2015 when the annual sales growth rate for domestic companies contracted 2.4 percent. In 2014, sales of South Korean companies backtracked 0.3 percent. (Yonhap)The Bank of Korea said oil prices and housing bolstered combined sales of South Korean companies in 201
May 30, 2017
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Retailers' sales up 7.2% in April on online growth
Sales of key retailers in South Korea grew 7.2 percent last month from a year earlier, led by the strong performance of online channels, government data showed Tuesday. The combined revenue of 26 online and offline retailers reached 9.81 trillion won ($8.73 billion) in April, compared with 9.15 trillion won the previous year, according to the Ministry of Trade, Industry and Energy. (Yonhap)Of the amount, 13 offline-based retailers, including department stores, discount chains and convenience st
May 30, 2017
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Govt. to develop common label for SME products
The government plans to develop a common label that can represent all quality products made by South Korean small and medium-sized enterprises that can facilitate marketing for exports, officials said Tuesday.The idea is similar to the "cross" label that is used on products made by Swiss companies that pass state quality tests, according to the officials. The Small and Medium Business Administration and the Korea Federation of SMEs will be working together to develop the unified label, they said
May 30, 2017
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New building price hike heralds mild recovery in shipbuilding sector
A rebound in new building prices is raising speculation that the global shipbuilding sector is set to recover down the road, industry data showed Tuesday.According to the data compiled by industry tracker Clarkson Research Institute, new building prices of bulk carriers and oil tankers have continued to rise for the past two months. (Yonhap)The price of a new very large crude carrier with 310,000 deadweight tons stood at $80.5 million this month, after falling to $80 million earlier this year, w
May 30, 2017
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Budget carrier Air Pohang to start operations later this year
Air Pohang, a new regional carrier, said Monday it aims to start commercial operations later this year as the local air transportation market is undergoing a period of growth. The Pohang-based carrier obtained a business registration certificate from the Busan Regional Office of Aviation and plans to apply for an air operator certificate from the Ministry of Land, Infrastructure and Transportation next month, a corporate spokesman said by phone. (Yonhap)Given it takes about five months to recei
May 29, 2017
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Hyundai Mipo Dockyard wins W134b deal for two ships
Hyundai Mipo Dockyard Co., a small-sized shipbuilder here, said Monday that it has clinched a 134 billion won ($120 million) deal to build two ships.Under the deal with a European customer, Hyundai Mipo will deliver the two Ro-Ro vessels by December, 2019, the South Korean company said in a regulatory filing. (Yonhap)A Ro-Ro ship is designed to carry containers or cargo such as automobiles, trailers or railroad cars.Hyundai Mipo Dockyard, a unit of major shipbuilder Hyundai Heavy Industries Co.,
May 29, 2017
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Inter-affiliate overseas trading surges 20%
The size of internal trading by the top 10 South Korean conglomerates’ overseas affiliates surged nearly 48 trillion won ($42.78 billion) in the last four years, raising speculations that they have been sidestepping laws that regulate chaebol from awarding lucrative contracts to their domestic subsidiaries.Under the fair trade law, large businesses are banned from offering contracts to their subsidiaries, at which owner families hold a considerable portion of shares. If they are found to have vi
May 29, 2017
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SKT expands AI ecosystem in push towards connected world
Riding the wave of artificial intelligence in the ever-connected world, SK Telecom is expanding its AI ecosystem into diverse areas, including AI speakers, medical care, banking, automobiles and smart home services. At the center of the leading telecom carrier’s AI lies the Nugu platform, which was unveiled in September through its voice-enabled speaker of the same name. A Spanish model poses with SK Telecom’s artificial intelligence robot Albert at the Mobile World Congress held in Barcelona,
May 29, 2017
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Jin Air services 30m passengers since launch
Jin Air Co., the budget carrier unit of Korean Air Lines Co., said Monday the number of passengers it served has exceeded 30 million nearly nine years after it started operating.Jin Air, launched in July 2008, became the second low-cost carrier to reach the milestone after Jeju Air Co., which reported the achievement in January 2016. In this photo, taken on May 29, 2017, an executive at Jin Air (left) holds an event to deliver free two-way tickets on an international route to Lee Si-jin, who is
May 29, 2017
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Kolmar Korea chairman gets 2 1/2-year suspended sentence for tax evasion
Kolmar Korea Chairman Yoon Dong-han was sentenced Monday to 2 1/2 years in prison, suspended for three years, for tax evasion.Yoon was indicted for failing to pay some 3.6 billion won ($3.2 million) worth of taxes while trading stocks of Kolmar Group subsidiaries under other names. The transactions of Kolmar Group’s affiliate stocks including those of Kolmar, Kolmar Holdings and HNG took place between 2012 and 2015. Yoon Dong-han, chairman of Kolmar Korea (Yonhap)The investigation into Yoon reve
May 29, 2017
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Diageo brings Bell's whisky to Korea
Diageo Korea said Monday that it has released Bell’s blended Scotch Whisky in the Korean market.The 200-year-old British whisky brand is known for its soft, balanced flavor. In line with the effort to make whisky more accessible to younger drinkers, the 700-milliliter bottle is stylishly designed with the Union Jack, the company said. (Diageo Korea)Its low price also makes it optimal for those who wish to enjoy whisky at home, it added.“With its soft and rich taste, reasonable price, and nearly
May 29, 2017
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Korea's crude oil imports up in Q1
South Korea's imports of crude oil continued to rise in the first quarter of 2017 from a year earlier amid a downbeat trend in oil prices, government data showed Monday.The combined inbound purchase of crude oil reached 278.18 million barrels in the first three months, up 4.9 percent on-year, according to the Ministry of Trade, Industry and Energy. The import of petroleum products, however, fell 4.2 percent on-year to 78 million barrels in the cited period. (Yonhap)A hike in Iranian crude impor
May 29, 2017
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Whiskey sales drop sharply amid change in drinking culture
Sales of whiskey in South Korea have declined sharply over the last decade due largely to a shift in the country's drinking culture, industry data showed Monday. The domestic sales of the spirit hit 1.67 million boxes, or some 30 million bottles, in 2016, down 41 percent from 2.84 million boxes tallied in 2008, according to industry data. (Yonhap)The decline in whiskey sales came amid a change in the patterns of the country's drinking culture with people opting to have drinks alone or with fam
May 29, 2017