Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul to more than double military drones by 2026 to counter NK threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Finance minister vows to support innovative industries with W10tr fund
INCHEON -- South Korea's chief economic policymaker said Tuesday that the government plans to support small and mid-sized companies with innovative technologies with a 10-trillion won ($9.2 billion) fund.In a meeting with officials at a electric vehicle parts maker, west of Seoul, Finance Minister Kim Dong-yeon said the government will listen to voices from various industries.Last month, the government unveiled a plan to inject a combined 30 trillion won in the next three years to foster innovat
IndustryDec. 19, 2017
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Tech firms set pace in mobile payment race
The competition for the mobile payment market is heating up in South Korea as tech firms move to outdo each other with more convenient and safer banking services on smartphones that they hope replace physical banks.Samsung Electronics’ payment service Samsung Pay launched in August 2015 is currently a dominant player with more than nine million domestic subscribers here. Samsung Pay is a mobile service allowing users to use their premium Galaxy series devices as they would use cash or credit car
IndustryDec. 19, 2017
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Samsung launches Galaxy A8 with dual front camera
Samsung Electronics announced Tuesday the new mid-end Galaxy A series with the first dual front camera and a new brand number sequence resembling the premium Galaxy S series, in a move to raise the brand’s profile and boost global sales.“With the release of the Galaxy A8 and A8 Plus, we’re bringing our customers’ favorite features from our flagship smartphones, such as the infinity display and our first dual front camera with live focus, to our Galaxy A series,” said Park Jun-ho, vice president
TechnologyDec. 19, 2017
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Korea allocates 538.4 million ton emissions rights for 2018
In an effort to tackle global warming, the South Korean government has decided to allocate 538.4 million tons of greenhouse gas emissions rights to 591 companies across 26 industries in 2018, the Ministry of Strategy and Finance said Tuesday. The government will also announce an emissions allocation for 2018 - 2020 in the first half of next year, which is a year behind the initially scheduled deadline of this June.Relevant authorities have not yet reached a consensus for the later time frame due
IndustryDec. 19, 2017
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Audi Volkswagen Korea prepares full-fledged comeback
In a bid to reclaim the No. 3 spot in the local auto market, Audi Volkswagen Korea, importer and distributor of the German vehicles, has signaled a comeback after a more than yearlong sales suspension resulting from the diesel gate emissions scandal.Last month, Audi Korea launched the R8 V10, a flagship high performance sports car, its first release in one year and three months since the S8 Plus sedan was rolled out in June last year. Models widely expected to be launched in early 2018 are Volks
MobilityDec. 19, 2017
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FTC to reinvestigate humidifier sterilizer firms over misleading info
South Korea's antitrust watchdog said Tuesday that it has decided to reopen its probe into local humidifier sterilizer firms as its task force found some procedural loopholes in the previous investigation regarding their failure to inform consumers of possible health hazards.In 2016, the Fair Trade Commission closed an inspection of two local humidifier sterilizer manufacturers, citing a lack of evidence, amid a ballooning toxic disinfectant scandal that has resulted in numerous deaths and illne
EconomyDec. 19, 2017
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Korea calls for China's fair anti-dumping probes
South Korea called on China on Tuesday to carry out its ongoing anti-dumping investigations into South Korean chemical products in a fair manner.The commerce ministry said it made the request at a bilateral free trade meeting here, which was attended by senior trade officials from both countries. A bilateral free trade agreement took effect in December 2015.In June, China launched an anti-dumping probe into South Korean exports of styrene monomer used to make polystyrene, which in turn is used t
IndustryDec. 19, 2017
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LCD TVs wane amid growth of OLED TVs in 2017: WitsView
The global market for liquid-crystal display TVs lost ground this year, while shipments of organic light-emitting diode TVs sharply increased, industry data showed Tuesday.According to the data compiled by industry tracker WitsView, global shipments of LCD TVs are expected to reach 210 million units in 2017, down 4.1 percent from a year earlier.By company, Samsung Electronics Co. accounted for 42.9 million units, followed by LG Electronics Inc. with 28.3 million units and China-based TCL Corp. w
TechnologyDec. 19, 2017
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Most ICT firms rosy about 2018 outlook
A majority of South Korean ICT companies are sanguine about the country's economic and their business conditions in 2018, a poll showed Tuesday.According to the survey of 300 domestic ICT firms, 35 percent of the respondents expect Asia's fourth-largest economy to turn for the better next year.Another 50 percent predict the country's economic conditions to remain similar to those of this year, with the remainder anticipating worsening conditions.Optimists are far more this year than 2016 in the
IndustryDec. 19, 2017
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Labor disputes remain unsettled at Hyundai Motor, GM Korea
The Korean auto industry is still reeling from unsettled labor disputes that are likely to extend into next year amid sluggish sales as well as the fallout from a diplomatic row with China this year. Hyundai Motor, the nation’s largest carmaker, and GM Korea, the Korean branch of the US carmaker, are unlikely to reach agreements with their respective labor unions over wages this year, according to industry watchers Monday. (Yonhap)If they fail to narrow differences in the remaining two weeks of
MobilityDec. 18, 2017
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Dyson officially claims LG’s A9 descriptions are misleading
UK-based Dyson Technology Limited said Monday in an official statement that it will actively deal with a legal process against South Korea’s LG Electronics, claiming that the company’s cordless vacuum cleaner is described in a misleading manner. LG Electronics` cordless A9 vacuum cleaners. (LG Electronics)“Dyson embraces fair competition but we believe advertising and claims should be accurate and true in order that consumers can make informed choices when they select a product,” the company sa
TechnologyDec. 18, 2017
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Korea aims to attract more tourists from Southeast Asia
The South Korean government said Monday it will focus on attracting more visitors from Southeast Asia as part of its efforts to diversify its tourist portfolio after it suffered a sharp drop in inbound foreigners in the face of a diplomatic row between Seoul and Beijing.The government will concentrate its policy efforts on promoting the country's tourism to people from Indonesia, Vietnam and India, as well as those from Taiwan and Hong Kong, and seek ways to simplify their entry into the country
IndustryDec. 18, 2017
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Seoul expects US pressure on auto, steel in FTA talks
South Korea’s Trade Ministry said Monday that it will seek to start talks with the United States on amending the bilateral free trade deal as early as within a month, and take guard against Washington’s anticipated pressure in the auto and steel sectors.The Ministry of Trade, Industry and Energy submitted its Korea-US Free Trade Agreement road map to the National Assembly, wrapping up the domestic procedure that precede the actual renegotiation of the trade deal.“There is a pos
EconomyDec. 18, 2017
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KT&G exports to break W1tr in 2017
Cigarette maker KT&G is expected to see record high exports in 2017 as it pushes ahead in foreign markets in pursuit of becoming one of the top four global tobacco companies by 2025.As of the end of the third quarter, KT&G had seen 802.5 billion won ($737.2 million) in cigarette sales abroad, with overseas sales making up 36 percent of the company‘s total earnings. Industry analysts are expecting overseas sales to break 1 trillion won for the first time this year. A consumer buys Esse cigarettes
IndustryDec. 18, 2017
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LG Uplus partners with Naver to enter artificial intelligence speaker market
LG Uplus, South Korea’s third-largest mobile carrier by revenue, on Monday announced its entry into the growing artificial intelligence speaker market in partnership with the country’s No.1 search engine Naver in order to take on bigger players SK Telecom and KT. Naver’s AI platform Clova-based speaker Friends Plus edition will connect to LG Uplus’ set top box for Internet Protocol TV and home Internet of Things services, enabling users to control the mobile carrier’s services with voice command
TechnologyDec. 18, 2017
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Coupang opens Christmas promotion
E-commerce platform Coupang has opened special Christmas promotion running until Dec. 25, the company said Monday. (Yonhap)Special discounts up to 20 percent for some 56,000 toys for children from brands such as Lego, Yong Toys, Bandai and Mimi World. Under the special gift category, the company has also listed products for adults such as digital and home appliances, kidult toys, food, books and CDs/ DVDs. All purchases under the category are subject to Rocket Delivery to be competed the next da
IndustryDec. 18, 2017
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Exports of traditional Korean rice wine plunge
South Korea’s exports of traditional rice wine, or makgeolli, plunged by more than 75 percent last year compared to five years ago, according to a market report Monday. Last year, outbound shipments of Korean rice wine fell to $12.87 million, down by 75.6 percent from 2011, when combined shipments reached their highest level of $52.74 million, according to data compiled by Korea Agro-Fisheries and Food Trade. (Yonhap)The figure for this year is expected to go down further, as exports of Korean
IndustryDec. 18, 2017
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SK completes acquisition of Dow Chemical packaging business
SK Global Chemical on Friday completed its acquisition of Dow Chemical’s packaging product business, the company said in a statement Monday. SK Global Chemical, the chemical unit of SK Innovation, signed a deal with Dow Chemical to acquire the US chemical firm’s polyvinylidene chloride (PVDC) unit in October. PVDC is used for clear film packaging including plastic food wrap. (Yonhap)With the deal completed, SK Global Chemical now has full control of properties previously owned by Dow Chemical. T
IndustryDec. 18, 2017
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Korean convenience store to install Tesla EV chargers
Convenience store chain CU will provide charging stations for Tesla’s electric vehicle at four of its stores. CU announced Monday that a total of seven chargers will be installed at Gapyeong Sangcheon, Cheongpyeong Daein, Uiwang Ojeongongdan, Bibong Premium stores.The stores have been selected based on their less-than-an-hour distance from Seoul, the parking capacity, access to the high way and the suitability as a leisure driving path. (BGF Retail)Tesla Korea installed its exclusive charging e
MobilityDec. 18, 2017
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Samsung, Hyundai confronted major challenges throughout 2017
South Korea's top two family-controlled conglomerates, Samsung and Hyundai, faced never-before-seen challenges throughout 2017, casting a cloud over the nation's long-term economic outlook.On the surface, Samsung Group enjoyed one of its best years in 2017 due to the boom in the chip industry. Samsung Electronics Co.'s operating profit came to 14.53 trillion won ($13.3 billion) in the July-September period, rising sharply from 5.2 trillion won posted last year.The Samsung companies, however, suf
IndustryDec. 18, 2017