GS Energy, the holding company of GS Group’s energy businesses, is facing delays and structural hurdles in selling its majority stakes in its two city gas affiliates in South Korea, according to industry sources Tuesday.　Since officially putting its 49 percent stake held in each of its two gas-providing affiliates, Haeyang City Gas and Seorabeol City Gas, on the market last month, GS has halted further procedures on the deal.“All proceedings have been put on hold, and no future agendas regarding

Industry Jan. 12, 2016

Hanwha’s 2016 braille calendar. Hanwha GroupHanwha Group said Tuesday it has produced and distributed tens of thousands of 2016 braille calendars to the blind as part of its year-end social contribution efforts.Some 50,000 braille calendars were delivered for free to the Korea Blind Union and some 300 local organizations for the blind, as well as thousands of individuals, according to Hanwha.The conglomerate has been making braille calendars for 16 consecutive years since 2000, when Hanwha chair

Industry Dec. 29, 2015

SK Group chairman Chey Tae-won has revealed that he “has a child with another woman” and plans to divorce his wife Roh Soh-yeong, personally putting an end to the speculations surrounding his shaky marriage.In a three-page letter to the daily Segye Ilbo, which was confirmed by SK Group on Tuesday, Chey said his marriage with Roh “had been falling apart over the past 10 years” despite “several efforts to restore the relationship.”  SK Group chairman Chey Tae-won and his wife Roh Soh-yeong. Yonhap

Industry Dec. 29, 2015

For the last 25 years, a billboard inscribed with messages of hope, courage and love has been hanging on the Kyobo Life Insurance headquarters in southern Seoul.“Though simple, the words have consoled me during times of hardships and reminded me of life’s priorities during busy periods,” said 35-year-old Kim Yong-bae, who passes by the billboard on his way to work every day. The Kyobo Life Insurance billboard featuring a quote from an essay by American poet Mary Oliver is hung at the firm’s head

Industry Nov. 27, 2015

South Korea’s debit and credit card spending surged in October, when the government-led “Korea Black Friday” sales took place, the Credit Finance Association said Wednesday.Last month’s total card spending reached 55.68 trillion won, up 13.1 percent compared to the same period last year. Individually-owned credit and debit card spending rose by 8.5 percent last monthThe CFA credited the spending hike mainly to increased consumer spending during two-week sales event held by the government from Oc

Industry Nov. 25, 2015

Though design is often discussed as a craft that walks the line between form and function, Israeli-born Paris-based contemporary designer Arik Levy holds a more unconventional understanding of the concept.Driven by a philosophy that “the world is about people, not objects,” Levy believes that design should focus on improving people’s everyday lives in new ways. His human-oriented philosophy is well reflected across his lighting, furniture and interior designs.Arik Levy (Park Hyun-koo/The Korea H

Arts & Design Nov. 10, 2015

 The two sons of the Lotte Group founder once again clashed over control of the main office of their father, Lotte general chairman Shin Kyuk-ho, Tuesday, as a bitter fraternal battle over ownership of the South Korean retail giant continues to escalate.　Lotte Group, led by younger son Shin Dong-bin, demanded that SDJ Corporation, a company established and led by older son and former vice chairman of Lotte Holdings Shin Dong-joo, step out of the general chairman’s office, located on the 34th flo

Industry Oct. 20, 2015

Shin Seong-suk, compliance director at France-based pharmaceutical company Sanofi-Aventis Korea, sent her 11-year-old son Lee Yu-jin to Paris this summer to spend 10 days with a French family she had never met before.Last week, she welcomed Marceau Dabert, the 12-year-old son of the French family Yu-jin had stayed with, to South Korea for the first time. Shin took the children in and around Seoul, seeking to grant the young French visitor an unforgettable experience of a lifetime in a foreign co

Industry Aug. 31, 2015

SK Innovation, South Korea’s top oil refiner, and Japan-based JX Nippon Oil & Energy have agreed to strengthen their partnership in order to overcome structural challenges faced by the global oil and petrochemical industries, according to the Korean refiner.Executives from the two companies ― including SK Innovation CEO Chung Chul-khil and JX Nippon Oil & Energy CEO Yasushi Kimura ― discussed joint measures to pursue in line with changing conditions in the global oil market at a high-level meeti

Industry Aug. 31, 2015

South Korean train-maker Hyundai Rotem, owned by Hyundai Motor Group, is seeking to become a bigger global player by stepping up efforts to bring its railway vehicles and systems to developing markets overseas.“Having established a presence in 35 countries, our core strategy is to use the positive reputation we have built up in the industry to enter new markets in countries with aging or no railway infrastructure in Central America and South America, such as Peru and Colombia,” said a Hyundai Ro

Industry Aug. 21, 2015

The number of online shoppers in South Korea saw a sharp increase in June, largely as the recent outbreak of the Middle East respiratory syndrome drove people away from visiting large retail outlets.Online shopping volume reached roughly 4.43 trillion won ($3.78 billion) in June, up 26.6 percent over the same period last year, according to Statistics Korea on Monday.Online shopping sales took up 15.1 percent of the country’s total retail sales in June of this year, the highest recorded since off

Industry Aug. 4, 2015

SEOSAN, South Chungcheong Province -- SK Innovation, the energy holding unit of SK Group, is accelerating its drive to expand its electric automobile battery business by kicking its lithium-ion battery production into full gear.　The Korean firm’s newly-expanded battery plant in Seosan, South Chungcheong Province, has more than doubled its annual production capacity from 300 to 700 megawatt-hours -- sufficient to power around 30,000 electric vehicles, the company said.Since the factory first open

Industry July 29, 2015

World-renowned athletes have gathered in Gwangju for the 2015 Summer Universiade, the biennial university sports competition organized by the International University Sports Federation (FISU).As some 13,000 athletes from about 150 countries are competing for 272 gold medals in 21 sports disciplines at Universiade Gwangju 2015, a number of world champions are expected to take the lead in their respective sports.From artistic gymnastics, rhythmic gymnastics, badminton and archery to basketball, di

More Sports July 3, 2015

Just a short stroll away from the bustling multicultural neighborhood of Seoul’s Itaewon lies the lesser-known, yet trend-setting street of Gyeongnidan-gil.A short walk from Noksapyeong Station, this stretch of road is filled with craft breweries, terrace cafes, unique restaurants and quaint shops steeped in culture and creativity. Located two blocks away from the main streets of this up-and-coming neighborhood is a narrow alley, nestled away in a residential district that is even further off th

Food June 26, 2015