Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Military aircraft evacuating S. Koreans in Lebanon returns home
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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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Can Jennie break the K-pop solo artist slump?
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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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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First lady’s Dior bag scandal to be at center of Assembly audit
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Firefighters’ 3,000 won meals spark nutrition concerns
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Hyundai Motor dismisses rumor on HMM takeover
Hyundai Motor Group denied rumors that it could seek a takeover bid to save faltering shipper Hyundai Merchant Marine via its logistics arm Hyundai Glovis. HMM, which faces a liquidity crisis, is a key affiliate of Hyundai Group and so has been categorized as a member of the pan-Hyundai empire. “It is true that the group was invited to a takeover bid for the shipper, but the group has no interest in the deal due to little synergy effect,” a high-ranking official of the automotive group said Mond
March 21, 2016
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Uniqlo leads fast fashion sales in Korea
Japanese fashion brand Uniqlo led sales in the fast fashion industry in Korea last fiscal year, followed by the home-grown brand Daiz of discount retailer E-mart.According to Uniqlo’s disclosure provided by the Financial Supervisory Service, the brand saw sales of 1.12 trillion won ($957 million) in the fiscal year beginning September 2014, breaking the coveted 1-trillion-won mark just 10 years after entering the Korean market in 2005.Following Uniqlo was E-mart’s private brand Daiz, which saw s
March 21, 2016
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Singapore Airlines appoints new Korean general manager
Singapore Airlines has appointed Seah Chee Chian as the new general manager for its Korean branch, the airline announced Monday.After joining Singapore Airlines in 2008 as a technical services engineer, Chian rose through the ranks as a direct sales executive and regional marketing manager for Southeast Asia. His most recent post was manager of Singapore Airlines‘ Southern Indian business, a post he served for two years starting in 2014. Seah Chee Chian (Singapore Airlines)At his previous positi
March 21, 2016
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Asiana presents new Korean menu
Asiana Airlines has introduced a new menu filled with modern reinterpretations of traditional Korean palace foods, the company said Sunday.The menu includes items such as steamed beef ribs, marinated grilled beef slices called neobiani and seasoned spring greens. It will be available for flyers in the airline’s First Class Lounge at Incheon International Airport. Models pose with Asiana Airlines’ new Korean food menu, available in the Asiana First Class Lounge at Incheon International Airport. (
March 21, 2016
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Merck Korea holds colorectal cancer campaign
To raise public awareness on colorectal cancer, Merck Korea hosted an event Friday with its employees and medical experts, the company said Monday.The local office of the multinational pharmaceutical firm held a lecture on ways to raise Koreans‘ awareness of colorectal cancer and how to treat the disease. Merck Korea managing director Michael Grund (second from left) poses with employees and medical experts during an event to raise awareness on colorectal cancer in Seoul on Friday. (Merck Korea
March 21, 2016
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IngDan eyes new ecosystem for IoT innovation
SHENZHEN, China -- “Helping turn innovative ideas into products” is a goal shared by numerous tech start-up incubators and accelerators around the world. In Shenzhen, China’s electronics manufacturing powerhouse, one company is looking to tackle this task by capitalizing on the city’s rich resources and its own strengths to establish a new ecosystem for smart device developers. IngDan’s core mission is simple -- linking global start-ups making gadgets that utilize the Internet of Things, everyda
March 21, 2016
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Korea boosts partnership with China for VR field
South Korea said Monday it will strengthen cooperation with China for the development and marketing of virtual reality gear and related products, to take a lead in the burgeoning but promising sector.The Ministry of Science, ICT and Future Planning plans to organize a "South Korea-China VR business day" event in Shanghai on Tuesday, setting the stage for more than 60 firms from neighboring countries to explore partnerships in the rapidly growing industry.They include South Korea's SKONEC Enterta
March 21, 2016
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Hyundai Motor has 'no interest' in embattled shipper: sources
Hyundai Motor Group, the world's fifth-largest auto giant, said Monday that it has no interest in an embattled shipping company, making it clear that its main focus remains on its core car-making business. Market sources earlier confirmed that Hyundai Glovis, a logistics unit of the auto giant, has been contacted about a possible takeover of Hyundai Merchant Marine, which is going through a corporate overhaul to tide over mounting losses. Hyundai Glovis is in charge of shipping cars mostly produ
March 21, 2016
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SK Group chief on course to tighten grip on group management
Chey Tae-won, the chief of Korea's No. 3 conglomerate SK Group, is accelerating his move to tighten his grip on group management after he was named a new board member for SK, the group's holding firm, last week, industry sources said Monday.Chey's appointment was approved by its shareholders, heralding his comeback after a two-year hiatus. SK Group chairman Chey Tae-won (Yonhap)Chey also took the title of chief executive officer for the company, indicating that the business mogul will come to th
March 21, 2016
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LG Display emerges as top TV panel maker
Korean panel giant LG Display has emerged as the No. 1 player in the TV panel market this year, although its output dropped last month, data showed Monday.LG Display sold 3.83 million TV panels in February, more than any other company, but the number was down 8.1 percent from the 4.16 million units it sold in the previous month, the data compiled by industry tracker WitsView showed. LG UHD display (Yonhap)LG Display also was the top manufacturer of TV panels in January.Samsung Display, a sister
March 21, 2016
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GM Korea to recall Orlando SUVs for engine start button problems
GM Korea, the local unit of U.S. carmaker General Motors, will recall 66,169 units of the Chevrolet Orlando SUV for problems with their engine start buttons, the transportation ministry said Monday.The model's engine ignition button was found to not automatically return to its original position after the driver pushes it to start the engine. Chevrolet Orlando GM Korea (Yonhap)The malfunction could lead to the engine suddenly shutting off during driving, said the Ministry of Land, Infrastructure
March 21, 2016
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FSC to promote independent financial advisors
The Financial Services Commission is expected to devise a policy that enables financial professionals to start their own investment advisory ventures, in the second half of this year, according to the country’s regulators on Sunday.The FSC will seek to introduce a revised law to boost independent financial advisory services in the local capital market for legislation by the end of May.The IFA revision will allow employees of financial services companies to set up and operate investment advisory
March 20, 2016
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Retail giants bet on mega shopping malls
Lotte and Shinsegae, the nation’s two retail giants, are planning to build shopping complexes in Seoul and neighboring cities to curb the rapid growth of online retailers.By 2018, Lotte plans to open four shopping malls -- two in Seoul and the other two in Incheon -- to lure customers wanting to enjoy shopping and cultural activities at one site.The malls will be outfitted with retail stores, supermarkets, movie theaters and restaurants on floors ranging in size from 160,000 square meters to 410
March 18, 2016
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Samsung, Shinsegae in conflict over mobile payment tool
South Korea's two leading conglomerates -- Samsung Group and Shinsegae Group, which share the same lineage -- have been locked in an unusual conflict over mobile payment tools, industry sources said Friday, as the two are promoting their respective platforms.According to the sources, Samsung's service sector entities, including Hotel Shilla and Everland Resort, announced they will stop accepting gift certificates issued by Shinsegae, a leading retail group.The industry sources said Samsung's mov
March 18, 2016
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CJ chairman withdraws from board of holding company
Shareholders of CJ Group’s two main pillars -- CJ Corporation and CJ Cheiljedang -- approved a plan to replace the group’s ailing chairman Lee Jay-hyun from the board, officials said Friday.Shin Hyun-jae, vice president of the group’s holding company CJ Corporation, and Huh Min-hoe, vice president of CJ Cheiljedang, will replace him, they said.Citing his deteriorating health condition since 2013, chairman Lee has been replaced on the boards of CJ’s five affiliates, including CJ E&M, its thriving
March 18, 2016
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LTP Global expands overseas business
LTP Global’s factory in Hwaseong, Gyeonggi Province (LTP Global)LTP Global, a local packaging manufacturer, is seeking to expand its overseas business after it recently launched operations at its second factory in Hwaseong, Gyeonggi Province, company officials said Thursday.The medium-sized company specializing in printing and cosmetics packaging built the factory to meet the rising demand both at home and abroad. “We are optimistic about sales in China. And we are also going to be more aggressi
March 18, 2016
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Shareholders approve Hyundai Merchant‘s capital reduction
Shareholders of Hyundai Merchant Marine on Friday gave a nod to a capital reduction designed to keep the country’s No. 2 shipping line listed on the local stock exchange.Shareholders approved the 7-to-1 capital reduction proposal at an annual shareholder meeting. Hyundai Group has been working to salvage Hyundai Merchant, which has been in the red for years due to a decline in freight rates and global trade. Recently, the group announced a set of self-rescue measures to improve the financial hea
March 18, 2016
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LG to begin selling G5 on Mar.31
LG Electronics said Friday it will start the global sales of its latest flagship smartphone, the G5 as of Mar.31.First introduced at the Mobile World Congress last month, the G5 is acclaimed as the industry‘s first “Modular Type” smartphone, which connects with various accessories, including a camera controller that allows users to control the handset like a digital single-lens reflex camera.The release of the G5 comes after rival Samsung Electronics began selling its Galaxy S7 smartphone last w
March 18, 2016
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Producer price decline slows in Feb.
South Korea’s producer prices continued to fall in February, but the pace of decline slowed on a rise in agricultural and fisheries product prices, central bank data showed Friday. The producer price index, a barometer of future consumer inflation, came to 98.47 last month, slightly down from the previous month‘s 98.48, according to preliminary data from the Bank of Korea. The index fell by 3.4 percent on-year in February. (Yonhap)The central bank said a cold wave in January pushed up the overa
March 18, 2016
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Electric vehicle expo revs up on Jejudo Island
An international expo for electric vehicles kicked off on South Korea’s Jejudo Island on Friday.Major automakers will showcas their latestechnologies for eco-friendly vehicles, according to the expo organizers. t EV models and share views on the current and future A total of 145 companies including Hyundai Motor, Renault Samsung Motors, BMW and Nissan will be joining the 3rd International Electric Vehicle Expo, or IEVE, that will last until Thursday.Electric cars drive on the roads of Jejudo Isl
March 18, 2016