Most Popular
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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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Military aircraft evacuating S. Koreans in Lebanon returns home
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BTS-themed moon jar to be unveiled on Hangeul Day
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Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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[Robert Fouser] Why the US election looks so close
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Samsung Bioepis’ Remicade biosimilar wins US FDA approval
South Korea’s Samsung Bioepis won the US Food and Drug Administration’s approval for its biosimilar copy of Johnson & Johnson’s Remicade on Saturday, becoming a new challenger to the sales of the pharmaceutical giant’s blockbuster autoimmune disease treatment in the US. The US FDA has granted approval to Samsung’s Renflexis, a biosimilar referencing Remicade (infliximab). Akin to generics of chemical drugs, biosimilars refer to cheaper, near-replicas of live cell biologic drugs whose patents hav
April 23, 2017
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[Photo News] Posco Daewoo sponsors ophthalmology patients in Uzbekistan
PAYING IT FORWARD -- Medical staff with Vision Care, a Seoul-based international blindness relief organization, pose with ophthalmology patients during a weeklong medical camp held at Bukhara General Hospital in Uzbekistan from April 16 to Sunday. The camp offered free surgical and ophthalmic care to roughly 1,000 Bukhara locals suffering from eye diseases such as cataracts, pterygium and blindness. It was sponsored by Posco Daewoo, the trading and construction arm of the South Korean steel gian
April 23, 2017
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[Photo News] Lotte World Tower International Sky Run kicks off
RUN TO THE SKY -- Runners take off at the 2017 Lotte World Tower International Sky Run, held at the Lotte World Tower in southern Seoul on Sunday. The race took runners from the first floor up to the observation deck on the 123rd floor, climbing 2,917 steps. It was hosted by the Vertical World Circuit, an organization under the International Skyrunning Federation. Proceeds from the race were donated to ChildFund Korea. (Yonhap)
April 23, 2017
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With Lotte's chief in crisis, ousted brother seeks to regain power
Lotte‘s ousted vice chairman Shin Dong-joo is seeking to regain power at his family’s conglomerate as his younger brother, Lotte Group Chairman Shin Dong-bin, is caught in a web of legal troubles. Speaking to media in Tokyo on Friday, the elder Shin said that he will be asking Lotte Holdings to reinstate him as a member of the board at the regular shareholders‘ meeting scheduled for the end of June.Shin Dong-joo and Shin Dong-bin (Yonhap)“I am concerned about Lotte Group’s future and will contin
April 23, 2017
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Credit card use surpasses cash at convenience stores
A major convenience store chain said Sunday that credit card use surpassed cash use at its outlets last year, indicating that Koreans are increasingly turning to non-cash methods of payment.According to convenience store chain CU, credit cards were used to pay for 55.1 percent of transactions last year, surpassing cash use for the first time. A 7-Eleven employee demonstrates how customers can receive change electronically. (Yonhap)CU said that credit card use rose to 57.3 percent of all transact
April 23, 2017
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Daewoo Shipbuilding braces for tough restructuring after bailout
Troubled Daewoo Shipbuilding & Marine Engineering Co. has to implement bold self-restructuring efforts and win more shipbuilding deals at reasonable prices in order to stand on its own feet, as its creditors are set to inject another batch of cash into the shipyard soon, analysts said Saturday.Holders of bonds and commercial papers sold by the shipyard, the world’s largest by order backlog, worth 1.55 trillion won ($1.36 billion) in total, have signed off on a massive debt-for-equity swap deal d
April 22, 2017
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Samsung estimated to make less than 100,000 won per Galaxy S8 sold: sources
Samsung Electronics Co. is estimated to make less than 100,000 won ($88.20) for each Galaxy S8 smartphones sold, industry watchers said Friday, hovering far below the market price of 935,000 won.The calculation is based on the fact that Samsung's mobile business saw its operating margin reach 10.8 percent last year, and that the tech giant needs to also take expenditures on marketing and other costs into account. (Yonhap)Industry tracker IHS Markit also estimated that the 64GB Galaxy S8 smartpho
April 21, 2017
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LG Chem drops case against Barclays
South Korea‘s leading chemical company LG Chem withdrew its suit against British investment bank Barclays for allegedly failing to identify a fraudulent account, the Seoul Central District Court said Friday. (Yonhap)LG had sought 24 billion won ($21 million) in damages from Barclays, claiming that the bank failed to fulfill its duty of preventing an erroneous remittance of money by matching the beneficiary and the account owner.In March last year, upon receiving an email from what the company be
April 21, 2017
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Kepco signs on for US virtual power plants
Korea Electric Power Corporation, a state-run utilities company, signed a memorandum of understanding with South Korean battery solution provider Kokam and global virtual power plant platform provider Sunverge to advance into the VPP sector using solar power and energy storage systems, the company said Friday.Korea Electric Power Corporation CEO Cho Hwan-eik (third from right) poses with related officials after the MOU signing. KepcoVirtual power plant, or VPP, is a cloud-based central control s
April 21, 2017
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Samsung reinforces "Club des Chefs Korea" for innovative goods
Samsung Electronics Co. said Friday a renowned South Korean baker has joined the list of chefs providing one of the world's leading consumer electronics manufacturer with insight and expertise for the development of innovative products.The Samsung Club des Chefs was launched in 2013 with the participation of visionary chefs from around the world to contribute their unique insight and fresh ideas. From left are chefs Kang Min-goo, Lim Ki-hak, Kwon Hyung-jun, Yim Jung-sik and Lee Chung-hoo. (Yonha
April 21, 2017
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Korea losing port calls after Hanjin Shipping's bankruptcy
BUSAN -- Global shipping companies have reduced their calls at South Korean ports despite adding more worldwide services, partly a result of Hanjin Shipping going bankrupt, a research organization said Friday.Four different shipping alliances have been realigned into three major players -- 2M, The Alliance and Ocean Alliance -- in April after South Korea's Hanjin, once the world's seventh largest maritime transport company, went under the month before. CKYHE, the alliance that Hanjin had led, di
April 21, 2017
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Air Busan, T'way open up new routes to Japan amid THAAD row
South Korean low-cost carriers Air Busan and T'way Air Co. will set up new routes to Japanese cities as part of efforts to offset declines in demand from China, the companies said Friday.The number of Chinese travelers has sharply declined following the ban on all travel packages to South Korea from March 15 onward amid a row between Seoul and Beijing over the planned deployment of an advanced US anti-missile system on the Korean Peninsula.An undated file photo of a South Korean budget carrier T
April 21, 2017
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SK head to visit Japan on Toshiba deal
SK Group Chairman Chey Tae-won plans to visit Japan next week as the group's chip-making arm SK hynix Inc. has joined the race to take over the memory division of Japanese tech giant Toshiba Corp., industry sources said Friday.During his stay in Japan, Chey plans to meet executives of Toshiba to explain SK Group's vision on the chip industry, according to the sources. SK Group Chairman Chey Tae-won (Yonhap)Toshiba has put its entire stake in its memory operations up for sale as it struggles wit
April 21, 2017
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Samsung kicks off official sales of Galaxy S8
Samsung Electronics Co. started official sales of the Galaxy S8 and the Galaxy S8 Plus smartphones in South Korea, kicking off full-fledged efforts to strengthen its mobile business hurt by the discontinued Galaxy Note 7 phablets last year.The distribution of Galaxy S8 smartphones to preorder clients began earlier in the week ahead of the official release. Samsung Electronics Co.'s Galaxy S8 smartphone is displayed at a Seoul-based retail shop in this photo taken on April 21, 2017. (Yonhap)Preo
April 21, 2017
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Trump orders investigation into foreign steel imports
WASHINGTON -- US President Donald Trump on Thursday ordered an investigation into whether steel imports affect national security in a move seen as signaling tougher restrictions on foreign steel that could also affect South Korean steelmakers."Today, I'm directing the Department of Commerce to immediately prioritize the investigation ... into foreign steel arriving into our markets, and to submit a report on the effects of these foreign steel products on the national security of the United State
April 21, 2017
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SK delivers W4.8b of incentives to social enterprises
SK Group, South Korea’s third-largest conglomerate, delivered a total of 4.8 billion won ($4.2 million) in incentives to 93 social enterprises at an awards ceremony, the group said Thursday.The ceremony is part of a project run by the group to provide incentives to enterprises by converting social value created by the companies to currency, the company said. SK Group Chairman Chey Tae-won (second from right) speaks at a discussion on social enterprises Thursday. (SK Group)The awards event took p
April 20, 2017
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Korean steelmakers under pressure over anti-dumping probe by US
South Korean steelmakers struggling in saturated markets faced heavier pressure Thursday over the US government’s plan to investigate carbon and alloy steel wire rod imported to American soil, which could lead to more tariffs on their products.The Department of Commerce said it would start an investigation of the products from 10 countries, including South Korea, to look into how much the alleged dumping practices and subsidized imports contribute to the US trade deficit. The investigation will
April 20, 2017
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Samsung out to reclaim India crown with S8
Samsung Electronics began preorders of its Galaxy S8 smartphone in India on Thursday, with the aim of reclaiming the top spot in the nation’s premium smartphone market. The Korean tech giant said it had begun preorders of its flagship smartphones, setting the price of the Galaxy S8 and Galaxy S8 Plus at 57,900 rupees ($895) and 64,900 rupees ($1,004), respectively. Its official launch will be on May 5.Samsung holds a press conference for the Galaxy S8 in India (Samsung Electronics)“In order to k
April 20, 2017
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Bidding process begins for new Gimhae airport
The South Korean government on Thursday laid out the bidding process for constructing a new airport in Gimhae.The Ministry of Land, Infrastructure and Transport said the bidding will be conducted through international competitive bidding procedures. After reviewing bidders’ project proposals, the ministry will go through the qualification and evaluation processes and choose a winner in June.(Yonhap)The selected operator will carry out an extended feasibility study and devise a general plan over
April 20, 2017
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S-Oil sponsors orchestra for disabled youth
Oil refiner S-Oil has donated 100 million won ($87,800) to the Heart-Heart Orchestra, an orchestra comprised of youths with developmental disabilities, to celebrate the 37th National Disabled Day Thursday.S-Oil President Ryu Yul and the company’s employees, as well as Heart-Heart Foundation Chairman Kim Young-joo, joined the donation ceremony at the company’s headquarters in Mapo-gu, Seoul where the orchestra performed to celebrate the event.S-Oil President Ryu Yul (left) and Heart-Heart Foundat
April 20, 2017