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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SMEs use KCON Japan to promote products, conduct export talks
South Korean small and medium enterprises used the 2017 KCON Japan event to promote their products and hold export talks with prospective clients, the Small and Medium Business Corporation said Sunday.The global Korean pop music and culture convention arranged by CJ E&M kicked off on Friday for a three-day run in Chiba, east of Tokyo, attracted 83 local companies, SBC said. A South Korean girl group performs at the 2016 KCON event in Los Angeles. (Yonhap file photo)This year's event showcased fa
May 21, 2017
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Corporate deposits at banks fall by most in Q1: data
Corporate deposits held by South Korean banks decreased by the largest amount in the first three months of the year, central bank data showed Saturday, as businesses are moving to expand investment amid an upturn in Asia's fourth-largest economy.Total bank savings by local businesses reached 367.5 trillion won ($327.4 billion) as of end-March, down 15.9 trillion won, or 4.2 percent from three months earlier, according to the data compiled by the Bank of Korea.It is the largest on-quarter decline
May 20, 2017
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[Monitor] Average of 160,000 won spent to watch mobile ads
A consumer spends an average of over 160,000 won ($142) per year while watching advertisements on their mobile devices, showed a report released by a civic consumer group Friday.Last year, this was made up of 66,613 won spent on data to watch the ads, while the opportunity cost per time spent watching the ads came to 94,389 won, the Green Consumer Network said.The data expenses were gathered based on a report by digital ad agency DMC Media, which had shown that an online user watched an average
May 19, 2017
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SK hynix joins Toshiba bid with Bain Capital
SK hynix has joined the final bidding for Japanese tech giant Toshiba’s memory unit, it said Friday, to acquire part of a stake in the unit instead of a complete acquisition, reportedly in partnership with US buyout company Bain Capital. “Regarding the acquisition of management stake of Toshiba’s memory unit, we decided to join the final bid in partnership with a consortium,” the Korean chipmaker said in its regulatory filing Friday afternoon. SK hynix reportedly joined the consortium led by Bai
May 19, 2017
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Demand for solar panels rises in apartments
Demands are rising among apartment residents to set up solar panels in their complexes since the government started to offer more subsidies for the installation costs last year.The Seoul Metropolitan City Government said Friday that 3,793 apartment units finished installing solar panels during the first four months of this year, compared with 846 in the same period last year.“Compared with last year, more people are making inquiries about the incentives for installing solar panels at their apart
May 19, 2017
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Samsung Electronics joins 5GAA
Samsung Electronics Co. said Friday it became a member of the board of directors for the 5G Automotive Association, in line with its move to tap deeper into the next-generation automobile industry.5GAA, which has carmakers and mobile carriers as members, focuses on developing and commercializing self-driving automobiles powered by fifth-generation network technology.An official from Samsung Electronics said it also plans to speed up cooperation with Harman International Industries, a US automoti
May 19, 2017
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SK Telecom releases budget Galaxy Wide 2
South Korea's top mobile carrier SK Telecom Co. said Friday it has released Samsung Electronics Co.'s Galaxy Wide 2 smartphone.The 5.5-inch smartphone comes with a detachable 3,300mAh battery, along with a 13-megapixel rear camera. The price tag on the device is 297,000 won ($263.48), which is slightly lower than that of its predecessor.(Yonhap)Local users will be able to purchase the device at the 100,000-won level considering discounts provided by the mobile carrier.The Galaxy Wide, released i
May 19, 2017
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[Photo News] Rolls-Royce Motor Cars unveils Ghost Seoul Edition
SEOUL EDITION -- British luxury carmaker Rolls-Royce Motor Cars on Friday unveiled the Ghost Seoul Edition, with an illustration of the landmark Namsan Seoul Tower, along with the colors red, blue, white and black inspired by Korea’s Taegeukgi, at its showroom in Cheongdam-dong, southern Seoul. (Yonhap)
May 19, 2017
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Samsung aims to rebound in China with Galaxy S8
Samsung Electronics is aiming to rebound in China with the rollout of its new flagship smartphone Galaxy S8 after losing its market share to local handset makers in recent years. The Korean tech giant unveiled the Galaxy S8 series in China on Thursday with a release date planned for May 25. “China has been an important market for Samsung Electronics for 25 years since we entered the market in 1992. Samsung will provide the best mobile experience for Chinese consumers through Galaxy S8 series,” s
May 19, 2017
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Korea imposes 10% anti-dumping duties on Chinese offset printing plates
South Korea decided to impose up to 10 percent anti-dumping duties on Chinese-made aluminum plates for offset printing, the trade commission here said Friday.The Korea Trade Commission said it will levy punitive duties of 5.86 to 10.21 percent on the Chinese products in the next five years for underselling Korean products and causing damage to the local market.The plate, a thin and flexible metal panel with light-sensitive chemicals applied, is used to transfer the image from original materials
May 19, 2017
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Samyang Optics seeks to double sales by 2020
Samyang Optics Co., which is set to be listed on the country's secondary bourse next month, said Friday it seeks to double its sales by 2020.The South Korean producer of lens said it plans to bolster its manual-focus products and also seek to expand its presence in the auto-focus sector. The company said its sales for 2020 are expected to reach 130 billion won ($115 million). (Yonhap)Established in 1972, the company has carved out a name for itself in the optical business. It produces lens for d
May 19, 2017
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Cigarette sales rise for 2nd month in April
Sales of cigarettes in South Korea rose for the second month in a row in April despite the government's push to print graphic health warning on the outside of packages, government data showed Friday.Some 305 million 20-pack cigarettes were sold last month, up from 282 million packs sold a month earlier, according to the data compiled by the Ministry of Strategy and Finance. Cigarettes for sale at a convenience store (Yonhap)Monthly sales had been on a decline in the beginning of the year, with 2
May 19, 2017
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SK hynix joins bidding for Toshiba's memory division
South Korea's chipmaker SK hynix said Friday it has joined the final bidding to take over the memory division of Japanese tech giant Toshiba Corp.Through a regulatory filing, the company said it has decided to join the final bidding with its consortium partner. Sources said earlier that SK hynix formed an alliance with Bain Capital.(Yonhap)According to the sources, SK hynix has conducted a study on the acquisition under a request from Toshiba. The South Korean company is widely expected to sugge
May 19, 2017
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Korean Air workers allow company to decide wage increase in 2017
Unionized workers at Korean Air Lines Co. will allow the company to decide on the wage increase for 2017 to better help the national flag carrier make a turnaround this year, the airline said Friday."We have delegated authority to the company for this year's wage negotiations not only for the company's sustainable growth and survival but also for the job security of workers," union leader Lee Jong-ho said in a statement.President and Chief Operating Officer Walter Cho (left) and the company's un
May 19, 2017
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Trade body says Korea should prepare for influx of Chinese travelers
South Korea needs to prepare for an influx of Chinese travelers again once the diplomatic tension over the US missile defense system deployment settles down, a local trade group said Friday.The Shanghai office of the Korea International Trade Association released a report projecting that the tourism business from China will more than recover once bilateral relations improve. (Yonhap)China has barred its travel agencies from selling package tours to South Korea since March 15 in protest against S
May 19, 2017
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New budget guidelines focus on job creation, income hike
The revised guidelines for the 2018 state budget is designed to center around the pledges of the new government including job creation and a hike in household income, the finance ministry said Friday.Following the inauguration of President Moon Jae-in on May 10, the Ministry of Strategy and Finance revised the budget guidelines for next year to reflect the main policies of the liberal-focused president, who has put his policy priority on reviving the economy through job creation and increased in
May 19, 2017
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Lotte chief receives Spanish order
Lotte Group Chairman Shin Dong-bin has been awarded a royal medal by the King of Spain for his contributions to the enrichment of bilateral trades through business investment, Lotte said Friday. Shin was presented with the Cross of Official of the Order Isabel La Catolica, an honorary civil order granted by King Felipe VI, at the Spanish Embassy in Seoul on late Thursday, the group said in a statement. Lotte Group Chairman Shin Dong-bin (right) and Spanish Ambassdor to Korea Gonzalo Ortiz (lef
May 19, 2017
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Wanted: Japan Inc. seeks talented Koreans
For many old South Koreans, Japan has been an uncomfortable neighbor due to memories of Tokyo's harsh colonial rule over the Korean Peninsula in the first half of the 20th century.But lingering resentment toward Japan is no longer an obstacle for a growing number of young jobseekers who are hard pressed to find work at home.Ku Bon-su, a 30-year-old engineering graduate, had interviews with six Japanese companies in a job fair held in Ilsan, just northwest of Seoul, last week. He has turned to Ja
May 19, 2017
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Over 70% of listed firms based in capital area
More than 7 in 10 South Korean listed companies are headquartered in Seoul and its vicinity, pointing to the excessive concentration of wealth in the capital area, data showed Friday.The overconcentration of economic power is feared to deepen the regional economic gap, necessitating the need for measures to induce companies to move their main offices out of the Seoul metropolitan area for balanced regional growth. (Yonhap)According to the data by the Korea Exchange, 72.3 percent of the 1,947 com
May 19, 2017
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[Herald Interview] Casino expert stresses convergence of gaming and nongaming industry
MACAU -- Amid Macau’s gaming revenue comeback this year following three consecutive years of financial blunders, the annual three-day Global Gaming Expo Asia concluded Thursday with experts eager for the future of Macau beyond a gambling destination. In an industry that has heavily relied on high-rollers and VIPs to account for the vast majority of its revenue, Macau’s gaming heads are looking to establish a more mass market tourism appeal and nongaming amenities to revitalize its economic turna
May 18, 2017