Most Popular
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Debate rages over ‘overly fatty’ samgyeopsal
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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40 flights canceled on Jeju Island due to bad weather
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[Weekender] Korean psyche untangled: Musok
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Pandemic left Korea more depressed than before: report
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Gov't appears to shelve punitive measures against mass walkout by doctors
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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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Missing S. Korean traveler in Paris found safe after 2 weeks
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Hyundai Mobis to showcase future technologies at CES 2018
Hyundai Mobis, the auto parts unit of Hyundai Motor, said Thursday it will display a slew of its latest future car-related technologies at the upcoming international electronics show in January.At the annual Consumer Electronics Show scheduled for Jan. 9-12 in Las Vegas, global automotive companies and auto parts makers will compete to show off driverless driving and eco-friendly vehicle technologies. “The theme of Hyundai Mobis’ exhibition at the upcoming CES is to offer a new and surprising ex
MobilityDec. 7, 2017
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CJ Group to strengthen cooperation with Vietnam
CJ Group Co-chairman Sohn Kyung-sik met with Vietnamese Prime Minister Nguyen Xuan Phuc in Vietnam to discuss about ways to bolster cooperation in food, logistics and culture, the company said Thursday.Joining the two at the meeting held on Wednesday evening, local time, were key executive level officials including Chang Bok-sang, president of CJ Group Vietnam. CJ Group Co-chairman Sohn Kyung-sik (left) meets with Vietnamese Prime Minister Nguyen Xuan Phuc in Vietnam on Wednesday. (CJ Group)“CJ
IndustryDec. 7, 2017
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LG to release premium Signature smartphone
LG Electronics will be releasing a new limited-edition LG Signature Edition smartphone at the end of the month, according to the company on Thursday.The LG Signature Edition phone is the first smartphone in the LG Signature Edition line, which has released home electronics in the past. Just 300 phones will be available for sale, only in Korea. The LG Signature Edition smartphone (LG)The smartphone boasts 6 gigabytes of RAM and 256 gigabytes of internal memory, and comes with Bang & Olufsen wired
IndustryDec. 7, 2017
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N. Korean missile risk leads airlines to change routes
Airlines operating routes between Korea and the US are changing flight paths to avoid areas that may be exposed to missile launches from North Korea.The first airline recently to take such a safety precaution was Singapore Airlines, which confirmed a flight path for its route between Incheon Airport and Los Angeles was changed after North Korea‘s missile launch on July 27 earlier this year. (Singapore Airlines)Korean carrier Asiana Airlines also changed flight paths on some of its routes betwee
IndustryDec. 7, 2017
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KT&G donates food truck, hot meals for needy
Cigarette maker KT&G said Thursday it donated a food truck to the city-run soup kitchen Warm Chaeumteo, and that KT&G employees will be volunteering at soup kitchens over the next two years.According to the company, KT&G will donate 500 servings of food each week to soup kitchens, including Warm Chaeumteo and the House of Sungmo Lady in Daejeon, and volunteering at the facilities once a month over the next two years. KT&G CEO Baek Bok-in (right) serves food at Warm Chaeumteo in Seoul Thursday. (
IndustryDec. 7, 2017
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Korea’s cable makers fined W16b for bid-rigging
South Korea’s corporate watchdog said Thursday that it would fine a total of 16 billion won ($14.6 million) on seven cable makers here for rigging project bids. According to the Fair Trade Commission’s statement, the manufacturers worked together more than 30 times to set bidding prices for three separate cable supply contracts and shared the work among themselves over a two-year period between 2011 and 2013. Each company will be subjected to a fine of about 2.5 billion won, the statement added.
IndustryDec. 7, 2017
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Kepco President Cho to resign upon nearing UK nuclear bid win
Korea Electric Power Corporation CEO Cho Hwan-eik will resign Friday, more than three months ahead of the official end of his term in March, the company said Thursday.Cho‘s resignation announcement came just a day after Kepco was selected as the preferred bidder in the Moorside nuclear power plant project in the UK. (Yonhap)Cho had reportedly shown his intention to retire before the official end of his term, but had postponed the decision largely due to the nuclear project deal.“I am happy to r
IndustryDec. 7, 2017
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Korea’s agricultural exports to China rebound amid THAAD row thaw
South Korea’s exports of agricultural products to China showed signs of rebounding last month, following the announcement that South Korea and China had decided to begin normalizing bilateral relations in October. According to the Korea Agro-Fisheries & Food Trade on Thursday, exports of agricultural and livestock products to China -- excluding marine products -- reached roughly $165 million in November. The figure marks a 4.1 percent increase compared to the same month last year. In addition t
Dec. 7, 2017
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Fintech Center Korea inks partnership with Malaysia
The state-owned Fintech Center of Korea signed a memorandum of understanding Thursday with its Malaysian counterpart, the Fintech Association of Malaysia.Malaysia is the eighth country to partner with Korea to seek bilateral cooperation in financial technology, following the United Kingdom, Australia, France, Singapore, the United States, China and Switzerland. The size of deal has yet to be disclosed, but Korean firms’ entry into “one of the world’s leading payment markets” would be significant
Dec. 7, 2017
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Seoul stocks slump on foreign sell-offs
South Korea's main stock index fell on Thursday as foreign investors remained net sellers of stocks amid geopolitical worries in the Middle East. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index declined 12.39 points, or 0.5 percent, to close at 2,461.98. Trading was moderate at 396 million shares worth 6.03 trillion won ($5.52 billion) changing hands. Worries linger over US President Donald Trump's announcement to recognize Jerusalem as Israel's capital.
Dec. 7, 2017
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SKT’s Olympic marketing comes under fire
SK Telecom has come under fire after airing a commercial starring former figure skater Kim Yu-na to support the 2018 PyeongChang Olympics as a non-Olympic sponsor. The PyeongChang Olympic Organizing Committee has reportedly sent a letter to SK Telecom to stop it airing television commercials related to the Olympics on the grounds that “ambush marketing” taking advantage of Olympic fever is illegal. Ambush marketing refers to a company’s indirect marketing activities despite not being an official
IndustryDec. 7, 2017
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Korea to persuade EU to exclude it from tax haven blacklist
South Korea's foreign ministry said Thursday it plans to persuade the European Union to exclude Asia's fourth-largest economy from the EU's new blacklist of tax havens.On Tuesday, the EU unveiled a list of 17 noncooperative tax jurisdictions including South Korea, Macau and the Marshall Islands, saying that it is a substantive step to deter worldwide tax avoidance. It said South Korea has "harmful preferential tax regimes" and did not commit to amending or abolishing them by December 2018. Noh K
Dec. 7, 2017
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LG Display says supply for iPhone X not decided yet
LG Display said the supply deal for organic light-emitting diode panels to Apple’s iPhone X has not been settled, in response to industry speculation on a possible deal. “Regarding the OLED supply deal for Apple’s iPhone X, nothing has been set in detail. When anything is confirmed in detail, we will announce it, or (otherwise an announcement will be made) in a month,” LG Display said in its regulatory filing Wednesday afternoon. The statement followed Korea Exchange’s request to clarify the ind
IndustryDec. 7, 2017
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[Newsmaker] Korea to crack down on Tumblr for failing to manage profane content
South Korea’s media regulator has set out to strengthen its watch on US-based microblogging website Tumblr which has been criticized for its passive attitude in stopping the circulation of profane and inappropriate content on its platform. The Korea Communications Commission on Wednesday announced a new set of policies to curb the prolfieration of profane content on the web, citing plans to amend current communications law to ensure they can be applied equally to both Korean and foreign internet
TechnologyDec. 7, 2017
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Korea’s top pharma association partners with KOTRA
South Korea’s top pharmaceutical association has partnered with the country’s top trade promotion agency to speed up the local pharma sector’s overseas business expansion and to aid international knowledge exchange. The Korea Pharmaceutical and Bio-Pharma Manufacturers Association and the state-run Korea Trade-Investment Promotion Agency said Thursday that they have signed a Memorandum of Understanding agreeing to such terms. KPBMA Chairman Won Hee-mok (left) and KOTRA CEO Kim Jae-hong pose afte
IndustryDec. 7, 2017
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[PyeongChang 2018] Lotte unveils the next ‘it’ item: ‘PyeongChang sneakers’
Following PyeongChang long padded coats’ huge success in sales, Lotte Department Store set out to extend the popularity to “PyeongChang sneakers,” with pre-orders exceeding 30,000 in six days.Pre-orders for PyeongChang sneakers began on Dec. 1 and will be available until Thursday. In the six days since pre-orders began, more than 20,000 people have requested the now in-demand item. Lotte Department Store announced Thursday that it has already sold 60 percent of the total 50,000 pairs available.
IndustryDec. 7, 2017
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Agricultural goods exports rise despite China's retaliation: data
South Korea's exports of agricultural products rose for the first 11 months this year, industry data showed Thursday, despite China's economic retaliation against the deployment of a US missile defense system.China has been retaliating economically against South Korea since early this year after pushed forward the installation of the US Terminal High Altitude Area Defense missile system, which Beijing sees as a security threat. (Yonhap)South Korea's total shipments of farm and livestock products
IndustryDec. 7, 2017
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Korea aims to become global player in drone sector by 2030
South Korea unveiled a long-term plan Wednesday to develop unmanned vehicles, such as first passenger drones, with an aim of emerging as a global leader in the sector by 2030, the science ministry said Thursday.Under the road map crafted and announced by the Ministry of Science and ICT, Seoul will concentrate efforts to boost the development of future-oriented drones, self-driving cars, unmanned ships and agricultural machines.The ministry earlier designated the sector as one of the key strategi
TechnologyDec. 7, 2017
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Hyundai workers stage partial strike for higher wages
Workers at Hyundai Motor Co. walked away from their production lines Thursday in the latest partial strike as they pressed for higher wages and bonuses, an official said.The workers in the morning shift left their posts at 8:50 a.m. for three hours, while those in the evening shift plan to put down their tools between 5:40 and 21:00, according to the Hyundai official.The strike prevented workers from making engines and transmissions. Hyundai said the production of cars was not affected by the la
IndustryDec. 7, 2017
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More than 40% of China's service sector remains closed: report
More than 40 percent of China's service sector has remained closed despite a bilateral free trade agreement with South Korea, a report said Thursday, suggesting the Seoul government should do more to open the neighboring market in upcoming trade talks with Beijing.The Korea-China FTA took effect in December 2015 after years of negotiations, with tariffs on about 90 percent of goods to be eventually removed over the next two decades. South Korean Trade Minister Yoon Sang-jick (R) and his Chinese
Dec. 7, 2017