Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Yoon set for talks with Marcos in Philippines
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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Can Jennie break the K-pop solo artist slump?
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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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Firefighters’ 3,000 won meals spark nutrition concerns
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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Prestigious U.S. prep school taught chaebol owners
Located amid lush fields and green trees in the city of Concord, New Hampshire, St Paul’s School is highly coveted in the United States and also a chaebol favorite.With 160 years of tradition, it boasts notable alumni including members of the wealthy Vanderbilt family, Nobel laureates and current U.S. Secretary of State John Kerry. In the hopes of honing the talents of their children and developing influential connections, superrich families from all across the world have honed in on the school.
April 26, 2016
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Bean Pole creates shirts with traditional Korean paper
Bean Pole Outdoor has created shirts using all-natural traditional Korean paper known as hanji, the company said Tuesday.The T-shirts, named “Fresh Hanji T-shirts,” are created with a blend of polyester and hanji woven from paper mulberry tree fibers. The Fresh Hanji T-shirt from Bean Pole Outdoor (Bean Pole)The all-natural odor-resistant fibers make the shirts absorbent and light, keeping them cool in the summer but warm in winter. The shirts are also a good choice for people with sensitive sk
April 26, 2016
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Incheon Int‘l Airport tops out second terminal
Incheon International Airport held a topping-out ceremony on Tuesday for its second terminal, set to open next year, the airport announced.A topping-out ceremony commemorates the completion of the framework of a new building by fitting the last piece of the structure on top. The last piece of the framework structure at Incheon International Airport’s second terminal is hoisted to the top on Tuesday. (Incheon International Airport)The terminal, however, will not be open to the public until the en
April 26, 2016
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[Newsmaker] Former Hanjin Shipping chief faces FSC probe for dubious trading
Hanjin Shipping’s former chairwoman Choi Eun-yeong has come under scrutiny by financial authorities over suspicions that she might have used insider information to sell her shares in the troubled firm. According to sources Tuesday, the former chief and her two daughters sold their 970,000 company shares -- 0.39 percent of the total shares -- worth 3 billion won ($2.6 million) three days before the company’s board of directors decided to file for creditor-led rehabilitation on Friday. Hanjin Ship
April 26, 2016
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Osaka favorite holiday destination for Koreans: Expedia
Japan’s Osaka was selected as the most popular holiday destination for Koreans in the first quarter of 2016, according to international online travel agency, Expedia, Tuesday.Expedia analyzed its flight reservation records to narrow down the 10 cities most frequently visited by Koreans from January to March 2016. (123RF)Although it did not disclose the total number of reservations, the agency said Osaka had the highest rate of flight bookings at 17.5 percent, an increase of 37.5 percent from th
April 26, 2016
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LG Household & Health Care posts record-high sales in Q1
LG Household & Health Care, the cosmetic arm of LG Group, posted 1.5 trillion won ($1.3 billion) in first-quarter sales, a 16.7 percent increase from the same period last year, the company said in a statement Tuesday.The nation’s second-largest producer of beauty products reaped 234 billion won in operating profit, a 30.9 percent increase on-year. LG brand The Faceshop cosmeticsIts three business units -- cosmetics, household goods and beverages -- saw double digit growth from last year.Among th
April 26, 2016
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Creditors want Hanjin Shipping to bear more pain
Debt-ridden container carrier Hanjin Shipping plans to raise a total of 411.2 billion won ($357 million) through asset sales, but its main creditor Korea Development Bank says that is not enough for it to win an aid package. KDB demanded that Hanjin, part of the eponymous group which controls Korean Air, supplement its application for debt restructuring, filed Monday to the state-run bank, with an additional and more detailed plan of self-rescue. “Once the new self-help plan is submitted, we wil
April 26, 2016
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CJ CheilJedang to launch ‘Cupban’ in Hong Kong, Japan
South Korean food company CJ CheilJedang on Tuesday said it will introduce its Cupban — instant rice accompanied by Korean soups — to Japan and Hong Kong starting next month. Stating from early May, CJ will introduce Cupban -- spun off from its flagship instant rice line Hetban -- at some 600 7-Eleven convenience stores in Hong Kong and up 200 Natural Lawson convenience stores and supermarkets in Japan. CJ’s Cupban, set to be launched in Japan (CJ CheilJedang)“Cupban is going to be the next big
April 26, 2016
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Nonghyup kimchi earns halal certification
Korea’s National Agricultural Cooperative Federation, also known as Nonghyup, on Tuesday said that 26 types of kimchi produced by its Gyeonggi affiliate have been certified as halal. The Malaysia’s state-led halal certification agency JAKIM has granted halal status to all of the kimchi products produced at the Gyeonggi Agricultural Cooperative Food Association’s production plant in Hwaseong, Gyeonggi Province. (National Agricultural Cooperative Federation)Gyeonggi Nonghyup said with the halal ce
April 26, 2016
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LS Cable & System wins $55m Danish cable contracts
LS Cable & System said Tuesday that it had signed contracts worth $55 million combined with two Danish energy companies, to supply extra high voltage cables.According to the firm, LS-VINA, LS C&S’ Vietnamese branch, will supply cables to Energinet, a Danish national transmission system operator for electricity and natural gas, for three years starting 2017 under a deal worth $20 million (23 billion won). LS Cable & System president Yoon Jae-in (right) and Torben Glar Nielsen, chief technology of
April 26, 2016
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New housing permits jump 18.3% in March
New housing permits in Korea spiked 18.3 percent from a year earlier in March, data showed Tuesday, amid government efforts to prop up the local real estate market.The number of new home permits issued came to 61,750 last month, up from 52,200 in the same month last year, according to the data compiled by the Ministry of Land, Infrastructure and Transport. Apartment complex in Seoul (Yonhap)March marked the 15th consecutive month of on-year increase in new home permits.The sharp rise in March wa
April 26, 2016
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Samsung‘s mobile business to post solid Q1 earnings
Samsung Electronics is forecast to post improved first-quarter earnings on the back of solid business from its IT and Mobile division.The tech giant’s mobile arm is estimated to post an operating profit of 3.5 trillion won ($3 billion), with some analysts suggesting close to 4 trillion won.The forecasts come after Samsung said earlier this month it sees its first quarter operating profit reaching 6.6 trillion won, up 10.37 percent from the same period last year. On-quarter, the estimate marks a
April 26, 2016
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[Market Now] Kakao to raise 230 billion won in convertible bonds overseas
Korea’s messaging app operator Kakao Corp. said Tuesday it will offer convertible bonds worth 230 billion won ($200 million) on the Singapore Exchange to raise operating capital.In a public filing in Seoul, Kakao said the convertible bonds will come with a zero percent coupon rate maturing on May 11, 2021. The conversion price is set at 104,933 won per common share of Loen Entertainment, a subsidiary of Kakao that operates the nation’s top online music streaming service. The price is 27.5 percen
April 26, 2016
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SK hynix Q1 net profit falls on weaker demand
SK hynix, the world’s No.2 memory chipmaker, said Tuesday its first-quarter profit plunged 65.4 percent from a year earlier due to contracting demand.Net profit stood at 448.03 billion won ($390.3 million) in the January-March period, compared with a profit of 1.3 trillion won the previous year, SK hynix said in a regulatory filing. (Yonhap)Operating profit tumbled 64.6 percent to 561.8 billion won and revenue fell 24.1 percent on-year to 3.66 trillion won, the firm said. Shipments of dynamic ra
April 26, 2016
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AmorePacific runs for breast cancer awareness
South Korean cosmetics giant AmorePacific and the Korea Breast Cancer Foundation kicked off the 2016 Pink Ribbon Love Marathon for breast cancer awareness in Busan on Sunday. The Busan race was the first of an annual series of races that aim to spread public awareness about breast cancer -- the most common form of cancer among women -- and raise funds for low-income breast cancer patients. Social and corporate leaders cheer with other supporters at the Pink Ribbon Love Marathon for breast cancer
April 25, 2016
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[Graphic News] Cigarette consumption rebounds
Cigarette sales rebounded in the first quarter of this year, after a sharp decline early last year due to an increase in prices, according to a Yonhap news report. The report, which compiled data from several financial investment firms, said about 17.7 billion sticks of cigarettes were sold in the first three months of this year, a 40.4 percent increase from the 12.6 billion sticks sold in the same period last year. The government’s increase of the tax on cigarettes by 2,000 won per pack in Janu
April 25, 2016
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Chinese rush boosts duty-free sales
Shoppers from overseas powered a rebound in duty-free sales last month, data showed Monday, indicating that big-spending Chinese tourists are returning to Korea after a drop in their numbers last year.According to data from the Korea Duty Free Association, duty-free stores recorded sales of $822.7 million in March, up nearly 15 percent from the same month last year.The bulk of those sales came from 1.6 million foreign shoppers, who spent approximately $610 million, up 21.6 percent from March las
April 25, 2016
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Hallyu star Lee Min-ho to represent Good Base
Hallyu star Lee Min-ho has signed a one-year contract to become the new face of local health food brand Good Base, according to the company on Monday.“Lee Min-ho’s clean, healthy image is well-suited for the natural purity emphasized by Good Base,” said Lee Kang-don, an official of Good Base, in a statement. Lee Min-ho for Good Base (Korea Ginseng Corporation)Lee Min-ho is an actor best known for his role in hit dramas such as “Boys Over Flowers” and “The Heirs.
April 25, 2016
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Golfzon sponsors LPGA rookie Alison Lee
Golfzon, a leading Korean maker of golf simulators, said Monday it has signed a sponsorship agreement with LPGA rookie Alison Lee as part of efforts to strengthen its global marketing activities.Under the agreement, the firm will sponsor Lee for two years. She will wear apparel with the company logo at golf tournaments and attend events hosted by the company. Golfer Alison Lee (center) poses with Golfzon executive Tommy Lim (right) and Carrie Forsyth, head coach of the golf team at University o
April 25, 2016
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Fate of Hanjin Shipping in hands of creditors
The fate of Korea’s two largest container carriers, which handle the bulk of Korea’s exports, now rests in the hands of creditors, after years of overcapacity and slowing trade globally led to a free fall in shipping prices.Hanjin Shipping, the nation’s No. 1 carrier by capacity, on Monday officially filed for creditor-led rehabilitation, becoming the second major shipping line to succumb to a mountain of debt this year. Along with the application for debt restructuring, the firm submitted a wri
April 25, 2016