A recent string of economic indicators have painted a rosy or robust picture of the Korean economy.　Its industrial output expanded by 2.4 percent from the month before in September, the rapidest pace in 54 months, according to figures from the state statistical office. The country’s gross domestic product grew by 1.2 percent from a year earlier in the July-September period, the highest rate in six quarters, showed data released by the Bank of Korea. 　Korea posted a current account surplus for 43

Nov. 5, 2015

　Faced with changing priorities, a growing number of people around the world are focusing on their health more than ever before as they seek to take on more nutritious diets and healthier lifestyles.　In South Korea, where such considerations reign high, the face of the yogurt industry is quickly changing to meet the demands of health-conscious consumers, following similar trends elsewhere in the world, including the United States and Europe.If yogurt varieties were limited to simply “plain,” a f

Industry Nov. 5, 2015

Eyeing the vast market potential of the world’s burgeoning Muslim community, South Korea’s pharmaceutical companies are seeking halal certification for their drugs to diversify and ramp-up their market share.　Halal -- which means “permissible” in Arabic -- certification ensures that a given product strictly complies with Islamic dietary law through production, storage and delivery. Halal foods must be made without blood and exclude meat from carnivorous animals, including pigs, and animals not s

Industry Nov. 3, 2015

　Hanwha Q Cells USA Corp. said Monday it will start construction of a new 170-megawatt solar plant in the United States after sealing a power purchase agreement with Texas-based Austin Energy.　The upcoming solar plant will be built on roughly 580,000 square meters of land in western Texas to generate enough electricity to supply around 1 million people, according to Hanwha. The 10.86MWdc Maywood Solar Farm built by Hanwha Q Cells in Indianapolis (Hanwha Q Cells)　Austin Energy said it will purcha

Industry Nov. 2, 2015

THE NEW PORSCHE MACAN GTS -- The new Porsche Macan GTS boasts a maximum 360 horsepower as a model fusing together the Macan S and the Macan Turbo. The vehicle has the 3-liter bi-turbo engine of the Macan S as well as Porsche’s double clutch and traction management systems for flexible power distribution between the front and rear axles. (Porsche Korea)

Mobility Nov. 1, 2015

KIA AWARDS BASEBALL MVP -- Kia Motors awards Jung Soo-bin of the Doosan Bears with a Kia K5 as part of his Korean Series MVP honors Saturday. Jung was recognized for leading his home team to victory against the Samsung Lions in the country’s biggest baseball tournament of the year. (Kia Motors) 

Mobility Nov. 1, 2015

HAN SUNG CELEBRATES OKTOBERFEST -- Han Sung Motor, the largest Mercedes-Benz dealer in South Korea, held a celebratory event in Seoul on Oct. 23-24 to mark its 30th anniversary as well as Germany’s flagship autumn festival. The event invited some 1,200 employees and customers to take part in the festivities. (Han Sung Motor)

Mobility Nov. 1, 2015

　Chinese Premier Li Keqiang, who met with the heads of South Korea’s business leaders in Seoul on Sunday, said China will seek models for shared economic growth with Korea. His remark came in a time when South Korea waits for an approval of the Korea-China free trade agreement by the National Assembly within this year.　Organized by the Korea Chamber of Commerce and Industries, the meeting brought together some 200 Korean business officials -- including KCCI and Doosan Group chairman Park Yong-ma

Industry Nov. 1, 2015

HEAT FOR LOW-INCOME HOUSEHOLDS — S-Oil CEO Nasser Al-Mahasher (second from left) and company officials deliver 50,000 coal briquettes to low-income households and senior citizens living alone in Seoul, Thursday. Since 2008, the oil refiner has been delivering coal to underprivileged citizens in the winter as part of its “Coal Briquette of Love Program.” (S-Oil)

Industry Oct. 31, 2015

　FILA is seeking to reinstate itself as a more stylish and trendier sportswear brand focused on high-performance apparel, as it undertakes a major overhaul of its former product lineup and takes on a new brand identity.　Led by its new executive vice president and creative director Jung Ku-ho, FILA Korea has directed its central focus on performance wear, while lowering its target customer base to those in their 20s and 30s. FILA Korea president Kim Jin-myun (right) and executive vice president J

Industry Oct. 29, 2015

Global chemicals company BASF has begun operating a new plant for manufacturing engineering plastic compounds in Korea, which company officials said will significantly drive up the firm’s polyamide and polybutylene terephthalate production in the country.　The new compounding plant located in Yesan, South Chungcheong Province, is able to produce up to 36,000 metric tons of BASF’s self-developed engineering plastic compounds Ultramid (polyamide) and Ultradur (polybutylene terephthalate) -- chemica

Industry Oct. 28, 2015

　SK Networks, an affiliate of Korea’s fourth-largest conglomerate SK Group, jumped into the heated competition to win a license to operate urban duty-free shops in Seoul.　Speaking at a news conference on Tuesday, SK Networks CEO Moon Jong-hoon said it will create a “tourism belt” encompassing its eastern and central Seoul business outlets. SK Networks CEO Moon Jong-hoon (SK Networks)　The firm already runs a duty-free store inside its Sheraton Grande Walkerhill Hotel in eastern Seoul, and hopes t

Industry Oct. 27, 2015

Cho Seong-jin, the winner of the Chopin piano competition, is a new classical music icon in Korea, setting recording history even before the release of his first solo album. 　The 21-year-old pianist’s upcoming album – a live recording of his performances at the 17th International Fryderyk Chopin Piano Competition in Poland – was the top seller across all music genres at Kyobo Bookstore, the country’s largest book seller, as of 3 p.m. Tuesday -- a feat that no other classical musician has come ev

Culture Oct. 27, 2015

　As difficult market conditions persist amid sliding crude oil prices and volatile refining margins, South Korean refiners posted diverging performances in the third quarter due to differences in their operational strategies.　Overturning market forecasts, SK Innovation, the country’s leading refiner, posted an operating profit of 363.9 billion won ($322.12 million) in the July-September period, up by 644 percent from the same period last year. A drilling machine extracts crude oil from an oil fi

Industry Oct. 27, 2015