Most Popular
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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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Special counsel bill to probe first lady scrapped
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Korean bands get their day in the sun, finally
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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Yoon set for talks with Marcos in Philippines
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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POSCO E&C to use high manganese steel to reduce inter-floor noise
POSCO Engineering and Construction is putting efforts into tackling inter-floor noise in apartments through an innovative technology, the company said Thursday.Since April, the company has launched a study on improving constructability of baseplate made of high manganese steel that the steel giant POSCO developed for the first time in the world last year. POSCO E&C is the construction arm of POSCO, the world‘s fourth-largest steelmaker. POSCO E&C CEO Han Chan-gun (center) tests the strength of h
Aug. 25, 2016
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Hanwha promotes Korean traditional arts for kids
South Korean conglomerate Hanwha Group held a musical performance for elementary school students last week as part of its arts education project, the company said Thursday. The group invited some 150 students to a hanok village in Gongju, South Chungcheong Province last Wednesday to offer them a chance to learn about Korean traditional music and arts. The event featured a performance by Kim Duk-soo -- a master of “samulnori” or Korean traditional percussion music -- and his troupe, the company s
Aug. 25, 2016
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Booyoung offers scholarships to foreign students
The WooJung Education and Culture Foundation under Booyoung Group offered scholarships worth a total of 400 million won ($357,000) to 100 foreign students studying in Korea, as part of its corporate social responsibility moves, the company said Thursday. The foundation, established by Booyoung Group Chairman Lee Joong-geun in 2008, has provided scholarships to foreign students twice a year since 2010. Booyoung Group Chairman Lee Joong-geun (second from right), who also heads the WooJung Educati
Aug. 25, 2016
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Tobacco spending falls only for low-income smokers
Consumer spending on tobacco has nearly reached former levels as the effect of the tobacco price hike wears off, with only low-income smokers continuing to reduce spending on cigarettes, data showed Thursday.According to numbers from Statistics Korea, the average household of two or more members spent 23,000 won each month on tobacco in the second quarter of this year. This marks a 10.9 percent increase from last year.The data showed a significant difference in cigarette spending between high-in
Aug. 25, 2016
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Concert coming at Lotte World Tower for construction workers
A music concert will be held at Lotte World Tower in Seoul to thank construction workers for their hard work on the tower, according to Lotte Corp. on Thursday.The “Concert Celebrating the Sweat and Passion of Lotte World Tower‘s Small Heroes,” which invited 1,800 people including construction workers, Lotte World Tower employees, Lotte World Mall employees and their families, will be held at the Lotte Concert Hall in the tower on Sept. 21. Construction workers pose on-site at the Lotte World T
Aug. 25, 2016
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Korea's seaport cargo grows 2% on-year in July
Cargo processed at South Korean seaports rose nearly 2 percent in July from a year earlier on a gain in container freight, government data showed Thursday.The volume of cargo handled at the country's seaports came to 124.3 million tons last month, up 1.9 percent from 122.1 million tons tallied in the same month last year, according to the Ministry of Oceans and Fisheries.The July figure marked a turnaround from a 3.7 percent on-year fall in June.The monthly increase was attributed to a rise in c
Aug. 25, 2016
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Bottled water, milk in short supply amid summer heat
Some South Korean producers of bottled water and milk are struggling to meet the rising consumer demand as an unprecedented heat wave has affected the supply chain, industry officials said Thursday.Sales of bottled water have sharply surged this summer as more people drank water to fight the scorching heat that has settled in South Korea since July.E-Mart, the nation's largest discount store chain, said sales of bottled water jumped 14.2 percent on-year between June 1 to Aug 23. GS25, a major co
Aug. 25, 2016
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Exports to Vietnam on steady rise, jumping over 10% in 2016
South Korea's exports to Vietnam have spiked over 10 percent so far this year, making it the world's third-largest importer of South Korean goods, data showed Thursday.In the January-July period, shipments to Vietnam jumped 10.1 percent on-year to $18.02 billion, according to the data from the Korea International Trade Association.The amount marks the world's third-largest, after the $68.52 billion worth of goods shipped to China and the $39.63 billion to the United States over the cited period.
Aug. 25, 2016
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Unionized workers of Hyundai Motor set to vote on wage hike deal
Tens of thousands of unionized workers at South Korea's top automaker Hyundai Motor Co. will decide this week whether to accept a tentative agreement on their wage increase in a vote, union leaders said Thursday, which may decide the fate of the company as well.The vote will be held Friday, two days after company management and union leaders reached the tentative deal.Under the proposed agreement, Hyundai Motor workers will have their base monthly pay raised by 58,000 won ($51.70), and receive 3
Aug. 25, 2016
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Tiremakers stingy with price cuts despite plunging costs
South Korea's three tiremakers have been reluctant to conduct big price cuts despite a recent tumble in the cost of rubber and other raw materials, data showed Thursday.The tire companies -- industry leader Hankook Tire Co., No. 2 Kumho Tire Co. and Nexen Tire Corp. -- reduced their tire prices by 0.9 percent to 2.5 percent in 2015 from the previous year, according to the companies' 2015 business reports. The prices of their tires ranged from 50,000 won ($44.60) to 70,000 won last year.In contra
Aug. 25, 2016
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Government postpones decision on Google’s map info export request
The government has postponed its decision on Google’s request to export map information from Korea to allow further review of the issues, the Transport Ministry announced Wednesday following a meeting of a pan-government review committee.The consideration period before the final decision will be extended another 60 days until Nov. 23. “After in-depth discussions about the effect of exporting map information on national security and the spatial information industry, it was agreed that the final d
Aug. 24, 2016
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[Graphic News] KEPCO suffers deficit from investment business
Korea Electronic Power Corp. has suffered a deficit in its investment business while it has drawn massive business from the power rate hike and the increase in the demand for power, data showed Wednesday. According to the National Assembly and KEPCO, the state-run company’s sales rose by 11.4 percent to 483,655 gigawatt-hour last year over the past five years while the revenue soared by 44.3 percent to 54 trillion won ($48 billion).The power rate, in the meantime, increased by nearly 30 percent
Aug. 24, 2016
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POSCO chief urges local players to boost competitiveness
The chief of POSCO, South Korea's No. 1 steelmaker, said Wednesday that the local steel sector is facing trade tussles and weak demand, urging each steelmaker to step up their efforts to overcome such headwinds.At a forum held in Seoul, Kwon Oh-joon, chairman of POSCO, said the current environment for local steelmakers is "a global steel trade war.""The local steel sector is facing hurdles such as growing protectionism and weak demand (from local companies)," he said."The current situation tells
Aug. 24, 2016
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[Newsmaker] PR legend questioned on lobbying
Working in public relations in South Korea has often been favored by college graduates, particularly among women concerned about the male-centered hierarchy of the corporate world.In such positions, English fluency and well-rounded communication skills are required, as the primary job function is dealing with clients and the press. Over a short period, a few figures have built up the reputation of PR professionals, portraying a general image of them being vibrant, career-seeking women. News Comm
Aug. 24, 2016
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[Photo News] Honorary award for Merck
Michael Grund (right), managing director of Merck Korea, poses with professor Choi Jong-seon, president of the Korean Information Display Society, after receiving an honorary award on behalf of Merck during the International Meeting of Information Displays 2016 on Jejudo on Tuesday. (Merck Korea)
Aug. 24, 2016
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Hanwha E&C signs MOU with Suwon for development project
Hanwha Engineering and Construction has signed an memorandum of understanding with Suwon City to build and develop auxiliary and support facilities for a new multi-purpose convention center to be built in the city, the company said Wednesday. Hanwha E&C and its retail affiliate Hanwha Galleria were selected in April to build the envisioned Suwon Convention Center’s commercial complex that includes a hotel, an aquarium, a department store and more on 30,836 square meters of land in the city’s ne
Aug. 24, 2016
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Samsung Display forms alliance with Chinese makers for curved display market
Samsung Display Co., Samsung Electronics’ display business affiliate, joined hands with dozens of Chinese television and monitor makers to develop the fledgling curved display market, the company said on Wednesday. The “Curved Alliance,” formed during a forum co-hosted by China Electronics Chamber of Commerce and Samsung in Beijing on Tuesday, includes Hisense Co., TCL Corp. and nine others. It aims to conduct joint research on curved screens and expand the market. Han Gab-soo, director of Sam
Aug. 24, 2016
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Hanjin Shipping struggles to right itself
Financially troubled Hanjin Shipping is struggling to come up with a self-rescue plan that meets the expectations of its creditors, amid growing concerns over a possible court receivership. Korea’s largest shipping company was asked by its creditors to submit a rescue plan by Thursday, the second deadline after the company failed to meet the first deadline of Saturday. A Hanjin Shipping-owned ship carries containers. (Hanjin Shipping)This is projected to be the last call as the company is slated
Aug. 24, 2016
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GS Caltex banks on human capital
The most important source of competitiveness of GS Caltex is human resources, Huh Jin-soo, CEO of the South Korean oil refiner, emphasized on many occasions. In an effort to attract talent with work ability rather than good ‘specifications’, the energy firm eliminated minimum grade and foreign language requirements in 2015 and 2016, respectively. GX Caltex new employees sing during New Year`s kick-off ceremony on Jan. 4, 2016. Photo: GS CalTexIn addition, GS Caltex has launched various training
Aug. 24, 2016
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Fisheries output drops 0.6% in H1
South Korea's fisheries output decreased 0.6 percent in the first six months of the year from a year earlier due mainly to sluggish deep-water and coastal catches, government data showed Wednesday.Fisheries production amounted to 2 million tons in the January-June period, down slightly from the previous year's 2.01 million tons, according to data from Statistics Korea.Deep-water fishing plunged 41.3 percent on-year to 208,000 tons, while fish caught in coastal waters fell 15.6 percent to 363,000
Aug. 24, 2016