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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Military aircraft evacuating S. Koreans in Lebanon returns home
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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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BTS-themed moon jar to be unveiled on Hangeul Day
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Market uncertain on Korea's October rate cut despite slowed inflation
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Samsung unveils 'personalized AI' for all devices
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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Special counsel bill to probe first lady scrapped
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[Robert Fouser] Why the US election looks so close
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US business leaders in Korea to visit Washington in May
The American Chamber of Commerce in South Korea said Sunday its delegation plans to visit Washington in May for talks with US officials and policymakers on trade issues with South Korea.The annual doorknock delegation is meant to inform US officials of the effects of the free trade deal between South Korea and the United States and to explain Seoul's deregulation campaign, it said. (123RF)The free trade deal, which went into effect in 2012, has widely been considered a symbol of the economic all
Feb. 26, 2017
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SsangYong partners Posco for safe, high performance SUV
SsangYong Motor has partnered with South Korea’s largest steelmaker Posco to roll out a premium sport utility vehicle that boasts safety and performance. The tie-up between the two firms was highlighted at the SUV Tech Forum, organized by SsangYong and Posco in Seoul on Friday, with industry experts in attendance. Slated for launch in May, SsangYong’s upcoming SUV Y400 uses Posco’s advanced high-strength steel for its vehicle frames. “Posco has researched and developed light yet safe steel pr
Feb. 26, 2017
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Small, midsized companies‘ wages only half of conglomerates
The average paychecks of small and midsized enterprises are only half of those provided by conglomerates, data showed Sunday, causing young jobseekers to shy away from applying for such positions.According to the research conducted by the Ministry of Employment and Labor, employees of companies with more than 300 staff made 5.61 million won ($4,960) monthly in 2015. In contrast, those working at firms with a smaller number of staffs made 3.06 million won. (Yonhap)Industry watchers said young job
Feb. 26, 2017
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Imported beer popularity soars in Korea
The demand for imported beer continues to rise in South Korea amid the increasing number of people who wish to drink alone at home, industrial watchers said Sunday. According to the data by E-Mart, a major South Korean market chain, imported brands took up 51.7 percent of its beer sales this month through Thursday, beating domestic products for the first time. Models pose with various imported beer brands at a supermarket in Seoul in this file photo released by E-Mart on Jan. 2, 2017. (Yonhap)Im
Feb. 26, 2017
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CJ poised to speed up investment as head returns from pardon
South Korea's entertainment giant CJ Group is set to speed up investment and business projects starting in March, as its chief is set to begin full-fledged activities after being released from prison by a pardon last year, industrial watchers said Sunday.CJ Chairman Lee Jae-hyun was released by a special presidential pardon in August. He was indicted in 2013 on charges of embezzlement and tax evasion, and was given 2 1/2 years in jail last year. (Yonhap)In order to normalize its businesses, CJ G
Feb. 26, 2017
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Samsung, leukemia victims still at odds over cause of disease
Samsung Electronics Co., a major global tech giant that has been embroiled in allegations that its workers on its chip production line have suffered from serious diseases, including leukemia, said Sunday the company is devoted to providing diagnoses and compensation to victims.The company denies any link between the working environment and the diseases, citing scientific data. (Yonhap)Controversy over Samsung's responsibility for workers' illnesses has been growing since 2007 after Hwang Yu-mi,
Feb. 26, 2017
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Special counsel to again summon Samsung heir on Sunday
Special prosecutors said Saturday they will summon the de facto leader of Samsung Group for additional questioning over his alleged involvement in the high-profile corruption scandal that has rocked the country for the past several months. Lee Jae-yong, who has already been arrested formally, will be brought to the special prosecutor‘s office Sunday to face questioning over allegations he offered 43 billion won ($36.3 million) in bribes to Park’s friend Choi Soon-sil in exchange for business fav
Feb. 26, 2017
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GS Group chief urges preparation for 4th industrial revolution
GS Group Chairman Huh Chang-soo has urged the group’s new executives to fully prepare for the fourth industrial revolution.“At home and abroad, the fourth industrial revolution is rapidly progressing with the spread of artificial intelligence and electric cars. This is breaking walls between industries, resulting in new industrial integrations and new competitions,” Huh recently said at a dinner with 21 new executives of the conglomerate at a resort in Jeju.“We have to deeply ponder upon how the
Feb. 24, 2017
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[Weekender] Investing to stay young and beautiful
The definition of “elderly” is becoming less clear by the day, as society turns older and those traditionally grouped as seniors become younger in terms of health, appearance and economic activity.It has led to the coining of the new term “No-no generation” in South Korea, a combination of the English word “no” and the Chinese character “no” meaning old. Combined together, the phrase refers to the elderly of today who are saying “No” to growing old. (123RF)This new silver generation defies ster
Feb. 24, 2017
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Transport Ministry denies Fly Yangyang license
A new regional airline hoping to specialize in bringing tourists to the Gangwon Province area was denied an operating license by the Ministry of Land, Infrastructure and Transport, according to the airline Friday.In a statement, Fly Yangyang said the Transport Ministry decided not to issue an operating license due to “the risk of financial instability in the early stages of operation as well as insufficient safeguards for safety and consumer convenience.”If the license had been granted, Fly Yang
Feb. 24, 2017
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McDonald’s Korea recognized for community contributions
McDonald’s Korea said Friday it has been awarded a top corporate social responsibility prize for contributions to the regional community.The Happy+ Social Contribution Awards are organized jointly by the Korea Employers Federation and Association of Korean Journalists. This is McDonald’s third year receiving the award for its work sponsoring the Korea Ronald McDonald House Charities, an organization that provides housing near hospitals for families of children who need long-term hospital care.
Feb. 24, 2017
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Hyundai Merchant set to receive fresh funding
Hyundai Merchant Marine Co., South Korea's top shipping firm, said Friday that its shareholders approved a proposal to raise the number of stocks and bonds to be sold, paving the way to get fresh funding from a state-backed firm.Earlier, Korea Shipping Co. said it would buy stocks and debt to be sold by Hyundai Merchant, as part of efforts to help jack up its financial status. (Yonhap)Established earlier this month, Korea Shipping helps local shipping lines buy new vessels with the aim to suppor
Feb. 24, 2017
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Biz leaders tied to KCCI vow strong ethics, political neutrality
South Korea's leading business leaders vowed Friday to manage their companies with a higher level of ethics and political neutrality, while making the utmost efforts to revitalize the sagging economy to regain the people's trust.Park Yong-maan, president of the Korea Chamber of Commerce and Industry, and chairmen of its 10 regional chambers that represent the interests of about 160,000 businesspeople nationwide, met and emphasized the importance of business ethics. (Yonhap)"In order for South Ko
Feb. 24, 2017
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Electric, electronics shares rise most this year
South Korean makers of electric and electronics products have been the best performers in the country's main stock market so far this year on the back of chipmakers' strong showings, data showed Friday.The subindex for the electric and electronics industry climbed 9.24 percent between Jan. 2 and Feb. 22, the highest growth rate among the 18 sectors of the main bourse, according to the data by the Korea Exchange. This photo, taken on Jan. 26, 2017, shows a woman checking the share price of Samsun
Feb. 24, 2017
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More luxury hotels setting up in Seoul to lure guests
Luxury international hotel chains are scrambling to expand their establishments in key districts of Seoul, on the back of increasing demand from local residents opting for overnight relaxation as well as the steady growth of foreigners, industry sources said Friday. Lotte Hotel Co., an affiliate of retail conglomerate Lotte Group, is scheduled to open its first premier hotel Signiel Seoul in April, in its skyscraper Lotte World Tower in eastern Seoul. (Yonhap)Located from the 76th to 101th floo
Feb. 24, 2017
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Samsung to use ATL batteries for new Galaxy Tab S3 tablet
China's Amperex Technology Limited became one of the two main suppliers for Samsung Electronics Co.'s new Galaxy Tab S3 tablet computer, an industry source said Friday. The move indicated that Samsung would maintain its cooperation with ATL, which supplied the batteries to Samsung that caused the Galaxy Note 7 smartphones to catch fire. This recently released photo shows an invitation to a press conference by Samsung Electronics Co. at the Mobile World Congress in Spain. (Yonhap)The Tab 3 will
Feb. 24, 2017
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Unionized workers of Hyundai Heavy stage all-out strike for 2nd day
Unionized workers at South Korean shipbuilder Hyundai Heavy Industries Co. launched an all-out strike for a second day on Friday demanding better working conditions and opposing the firm's spin-off scheme.The labor union leaders told all 15,000 union members to stage an eight-hour walkout starting from 8 a.m. (Yonhap)But only about 10 percent, or some 1,500 unionized workers, actually took part in Friday's strike, according to the labor union. In the previous day, around the same number of union
Feb. 24, 2017
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LG Display keeps No. 1 spot in global LCD TV panel shipments
South Korean display maker LG Display Co. kept its No. 1 spot in global shipments of liquid crystal displays for televisions in January this year, industry data showed Friday. LG Display's LCD TV panel shipments rose 5 percent on-month to 4.28 million sheets last month, although the global shipments of LCD TV panels fell 8 percent on-month to 19.88 million sheets, according to industry tracker WitsView. (Yonhap)The decline in global shipments came after Chinese and Taiwanese display makers clos
Feb. 24, 2017
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Samsung Group to abolish key future strategy office as early as March
Samsung Group appears to be planning to abolish the group's key future strategy office as early as next month, a group official said Thursday, after the special prosecution team concludes its probe into a presidential influence-peddling scandal. Samsung's de facto leader Lee Jae-yong was arrested last Friday over his alleged role in the scandal, which led to the impeachment of President Park Geun-hye. (Yonhap)During a parliamentary hearing last December, Lee told lawmakers that he would abolish
Feb. 23, 2017
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Emerson K sets up Thailand branch
Public relations and management consulting agency Emerson K Partners said Thursday that it had created a new branch in Thailand.The Thai branch of the agency will be headed by Thanapat Ujjin, an expert in Thai sports and entertainment. (From left): Waraporn Puangthai, Emerson K Partners Thailand VP, Park Ki-hwan, Emerson K Partners CEO, Thanapat Ujjin, Emerson K Partners Thailand CEO (Emerson K Partners)“We hope that Emerson K Partners will grow to become the most competitive and trusted PR con
Feb. 23, 2017