Most Popular
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Criminals who drugged teens' drinks with meth sentenced to up to 18 years
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Rival parties unite to form 4-way body to break med school standoff
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Korea to certify safety of EV battery from October
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Wartime sexual slavery victims file for Japanese govt. asset disclosure
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Producer Teddy's girl group Meovv debuts, showcasing dual feline charms
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Farewell summit: Yoon, Kishida pledge to keep momentum in revitalizing ties
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Man to pay W727m for opening plane door before landing
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Two Korean women arrested for stealing tourist's bag in Turkey
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Frieze Seoul sees slower sales, yet confirms stronger art scene in Seoul
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US’ new export controls to have little impact on Korean businesses: ministry
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Hyundai Motor unveils all-new Tucson at Geneva motor show
Hyundai Motor Co., South Korea's leading automaker, said Tuesday that it has unveiled its all-new Tucson sport utility vehicle (SUV) at a motor show in Geneva in a bid to expand its presence in the fast-growing European SUV market.The Tucson is being showcased at the Geneva International Motor Show, which runs until March 15, along with other vehicles including the new i20 coupe, i30, i40 and ix20, all designed to target the European market, according to the automaker. "We will accelerate our pu
March 3, 2015
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Amore Pacific opts for stock split to boost outstanding shares
Amore Pacific Co., South Korea's leading cosmetics firm, said Tuesday that it would split its stock to boost the number of shares in circulation, making its stock more affordable for retail investors.Earlier in the day, the company's board of directors decided on a 10-1 stock split, with the face value of its common stock and preferred stock to be cut to 500 won per share from the current 5,000 won, meaning that the number of the company's outstanding shares will rise tenfold.The proposal is sub
March 3, 2015
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Viber appeals S. Korean court ruling on patent feud with SK Telecom
Global mobile messenger provider Viber said Monday it will appeal a South Korean court ruling that may ban its local operation, signaling a protracted battle with South Korea's No. 1 mobile carrier, SK Telecom Co."Because Viber believes the court's decision was made in error, it is appealing the court's ruling and anticipates the appeal will show that Viber's technology does not infringe SK Telecom's patent," the company said in a statement. "We won the other three and will be appealing this one
March 2, 2015
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POSCO pushes for asset sale to improve financial soundness
POSCO, South Korea's leading steelmaker, is accelerating its push to sell unnecessary assets as part of its efforts to focus more on its key business and strengthen its financial soundness, industry sources said Monday.According to the sources, POSCO sold 28 billion won ($25.4 million) worth of real estate last year, including buildings and land in Pohang, its main base on the southeast coast and Gwangyang on the south coast. The sale was decided as the assets were regarded as idling or unnecess
March 2, 2015
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LG applies latest wearable to activate Audi
South Korea's No. 2 tech giant, LG Electronics Inc., said Monday it will show how its latest wearable can activate a car in a demonstration using an Audi at an international mobile event in Spain.LG is debuting its new smartwatch, the LG Watch Urbane LTE, at the Mobile World Congress that kicks off this week in Barcelona. The wearable is the world's first to work on the long-term evolution network."A driver can just wear the LG Watch Urbane LTE and press the 'start engine' button to turn on the
March 2, 2015
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Samsung, IKEA team up for wireless-charging furnitures
South Korea's tech giant Samsung Electronics Co. said Monday it will work with Swedish furniture maker IKEA Group on wireless-charging technology for smart devices through furnishings. The announcement followed debut of Samsung's latest flagships, the Galaxy S6 and the Galaxy S6 Edge, that come with a built-in batteries that can be charged without cords, a new technological breakthrough for the industry."This is a perfect match for the Galaxy S6 and its groundbreaking wireless technology, compat
March 2, 2015
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Lotte wins operational license for Jeju downtown duty-free shop
Hotel Lotte won the operational right for a downtown duty-free shop in Jeju, officials said Friday, a move that is anticipated to bolster the company's footing in the South Korean resort island's ballooning duty-free market. Hotel Lotte, among the three applicants that submitted competing bids, will operate one of the island's two downtown duty-free facilities for foreigners for five years, according to the officials. The Jeju bid has drawn keen industry and media attention as a lucrative spri
Feb. 27, 2015
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Samsung Electronics won't merge with healthcare affiliate
South Korean tech giant Samsung Electronics Co. said Friday it will not merge with Samsung Medison Co., its healthcare arm, five months after the handset maker said it was "considering" doing so. "Our company has no plan to merge with Samsung Medison, or split off the medical business," the tech firm said in a regulatory filing. Samsung Medison, a local manufacturer of medical devices, became a Samsung Electronics affiliate in 2011. The tech firm had said in September in response to a confirma
Feb. 27, 2015
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Samsung freezes salaries for 2015 amid earnings slump
South Korea's top tech firm Samsung Electronics Co. said Thursday it has decided to freeze pay for its employees for 2015, as the world's No.1 handset maker struggles to bounce back from a slump in its mainstay mobile business that ate into overall profits. A Samsung official earlier told Yonhap that the company plans to fix this year's salaries, although overall performance incentives, which depend on profits, would not be affected. A company spokesman confirmed, saying, "It is true that the
Feb. 26, 2015
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Daum Kakao's net up 36 pct in Q4
Daum Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, said Thursday its net profit rose 36 percent in the fourth quarter from a year earlier, boosted by robust sales from e-commerce platforms and mobile advertising. Net profit reached 50.6 billion won ($45.9 million) in the October-December period, compared with 37.2 billion won the previous year, the company said in a regulatory filing. Operating profit surged 71 percent on-year to 65.7 billion won, with sales coming t
Feb. 12, 2015
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Daum Kakao taps mobile publishing in China
Daum Kakao Corp., South Korea's top mobile messenger and web portal operator, said Tuesday it will work with local game developers to tap into mobile publishing in China in a bid to expand its footing in the world's most populous country. The company plans to set up a task force in Seoul and at its Beijing-based office in the first half to help local game developers publish their mobile game apps on Chinese platforms, including 360, Tencent and Baidu, Daum Kakao said in an emailed release. Daum
Feb. 10, 2015
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E-mart re-targets China via Alibaba shopping mall
E-mart, South Korea's biggest discount chain, said Tuesday it is launching sales at an Alibaba-powered online shopping mall, its latest effort to revive retail footing in the world's second-largest economy after previous expansion attempts flopped.Starting mid-March, E-mart will sell some 100 food and electronic products, such as soybean paste and rice cookers, at Tmall Global, an online shopping mall operated by Chinese e-commerce giant Alibaba, the retailer said in a press release.E-mart would
Feb. 10, 2015
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Samsung, Microsoft end patent dispute
Samsung Electronics and Microsoft Corp. said Tuesday they have decided to end their yearslong patent fee dispute but declined to provide details on the conditions of the agreement. "Samsung and Microsoft are pleased to announce that they have ended their contract dispute in U.S. court, as well as the International Chamber of Commerce arbitration. Terms of the agreement are confidential," the two companies said in a joint statement via their official blogs."Due to the agreement between the two c
Feb. 10, 2015
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Dessert cafe chain Sulbing expands into China
Dessert cafe franchise Sulbing said Monday it plans to open 150 branches in the world's second-largest economy by 2017, joining in a legion of South Korean food producers and confectioneries that have expanded abroad to secure new growth engines.Sulbing has signed a deal with China's Shanghai Yabin Food Stuff Trade Co. to open two branches in Shanghai by April and have 150 branches across the country by 2017, the company said in a press release. The move marks the company's first overseas expans
Feb. 9, 2015
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Chung family's stake sale in Hyundai Glovis 'credit positive': Moody's
The recent stake sale by Hyundai Motor Group Chairman Chung Mong-koo and his son in Hyundai Glovis Co. is "credit positive" as it reduces the risks from upcoming toughened government penalties on intra-group transactions, a main revenue source for the logistics unit, a global credit appraiser said Monday.On Friday, Hyundai Motor Group said that its chairman and his son, Eui-sun, sold about 5 million shares in Hyundai Glovis for an estimated 1.1 trillion won ($1 billion). The sale brought down th
Feb. 9, 2015
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SK hynix pushes next-generation mobile chip
South Korea's chip giant SK hynix Inc. said Monday it has started supplying its up-to-date memory chip for LG Electronics Inc.'s new flagship smartphone lineup, in its latest push to grab a bigger market share with the new mobile component as it vies against home rival Samsung Electronics Co. The low-power double data rate 4, an 8-gigabit dynamic random access memory mainly produced for mobile phones and digital cameras, has been installed in LG's G Flex 2, the curved-style handset that hit loca
Feb. 9, 2015
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Hyundai E&C inks $126 mln order from Saudi Arabia
Hyundai Engineering & Construction Co., South Korea's No. 2 builder, said Monday it has won a $126 million project to lay power transmission lines in Saudi Arabia. Hyundai E&C will build 249 kilometers of a 380-kilovolt transmission line throughout the Saudi capital of Riyadh, the South Korean builder said. The deal was struck with the Saudi Electricity Company."The latest project comes as the company received recognition for excellent engineering skills and overall performance seen in other sim
Feb. 9, 2015
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SK hynix narrows gap with Samsung in NAND flash sector
South Korea's No. 2 chipmaker SK hynix Inc. saw its share of the NAND flash market rise in the fourth quarter of 2014 from three months earlier, narrowing its gap with industry leader Samsung Electronics Co., data showed Sunday.SK hynix saw its market share reach 11.4 percent in the October-December period, up 1.1 percentage points from the 10.3 percent posted a quarter earlier, the data by market tracker TrendForce showed. In contrast, Samsung saw its shares fall 1.8 percentage points over the
Feb. 8, 2015
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Samsung's hospitalized head No. 1 dividend earner in 2014
Lee Kun-hee, the de-facto head of South Korea's top family-controlled conglomerate Samsung Group, earned the most amount of dividends among local businessmen last year, data showed Sunday, helped by the government's pressure on listed firms to expand returns to shareholders.Lee, who has been hospitalized since May after suffering a heart attack, earned 178.8 billion won ($164 million) in 2014, up 63 percent from a year earlier, the data by market researcher Chaebul.com showed.The jump came as th
Feb. 8, 2015
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Samsung No. 3 reputable firm in U.S.: report
South Korea's Samsung Group was named as the third-most reputable firm in the United States, a report showed Sunday, on the back of its strong products and services appealing to American consumers.Being the only foreign company to be included in the top-10 list, only two firms, grocery-chain operator Wegmans Food Markets Inc. and e-commerce giant Amazon.com Inc., outperformed Samsung in terms of corporate reputation, the report by U.S.-based market researcher Harris Poll showed.Apple Inc., which
Feb. 8, 2015