Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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Hopes rise for possible Gaza truce deal
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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[PyeongChang 2018] P&G spotlights moms, diversity in latest Olympic campaign
Under the theme of “Proud Sponsor of Moms,” Procter & Gamble recently released the latest video for its “#LoveOverBias” ad campaign, voicing support and appreciation for mothers ahead of the upcoming 2018 Winter Olympic Games in PyeongChang. “One of the things that is commonly mentioned among various studies on the developmental process of infants and toddlers is the pivotal role of the mother,” said a statement by P&G, an American consumer goods corporation. “While there are many theories and
IndustryNov. 14, 2017
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Will hologram be next bonanza for Samsung?
From the hologram rally by Amnesty International held near Cheong Wa Dae in 2016 to the late Michael Jackson’s hologram performance at the 2014 Billboard Music Awards, one may think hologram technology has come to fruition.However, most holograms we can commonly see today are only pseudo-holograms that can only be seen from one side without 3-D effects. For real holograms like those we can see imagined in science-fiction movies, we still have a long way to go, according to experts.“Real hologram
TechnologyNov. 14, 2017
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Korean business delegates uneasy over Australia’s LNG export curb
Local businesses have voiced concerns that Australia’s liquefied natural gas export restriction may mean tight times for Korean companies in the near future, considering President Moon Jae-in’s new eco-friendly energy policy that likely increase the country’s LNG consumption. Roughly 200 delegates from Korea and Australia attended the 38th annual Korea Australia Business Council, held in Brisbane from Nov. 12 to 14. Kwon Oh-Joon, the chairman of both Posco and the KABC, and Mark Vaile, chairman
IndustryNov. 14, 2017
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Most of Koreans think the 1997 financial crisis caused fallout: survey
More than half of South Korean people think the 1997 Asian financial crisis had an adverse impact on the economy, society and their daily lives, a survey showed Tuesday.Twenty years ago, Asia's fourth-largest economy experienced a slump in its currency and a sharp devaluation in its stock markets and asset prices along with other countries in the region. The country was forced to turn to a bailout package from the International Monetary Fund, which demanded that the Seoul government tighten its
EconomyNov. 14, 2017
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Brokerages upbeat on stock market in 2018
South Korea's main stock market is expected to gain further ground next year on a stronger economy with the key index breaching the 2,900-point level, local brokerages said Tuesday.Driven by brisk foreign buying stemming from resilient corporate earnings, the benchmark Korea Composite Stock Price Index had been renewing all-time highs before going south in recent sessions. The KOSPI hit an all-time high of 2,557.97 on Nov. 3 before closing at 2,530.35 Monday.In a research note, KB Securities Co.
MarketNov. 14, 2017
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Korea's agricultural technology goes global
South Korea will step up efforts to spread advanced agricultural technology and share farming expertise with developing nations to help them tackle food shortages, a state agency said Tuesday.The Rural Development Administration under the agriculture ministry has developed and shared agricultural technologies customized to developing nations through partnerships with local research institutes. The Korea Program on International Agriculture centers have been established in 20 nations in Asia, Afr
TechnologyNov. 14, 2017
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Lotte wins suit against Shinsegae over Incheon store biz
South Korean retail giant Lotte won a suit against its rival Shinsegae on Tuesday over business rights to run a department store west of Seoul, ending a long legal battle between the two conglomerates that began five years ago. The Supreme Court ruled in line with the original verdict that validated Lotte's acquisition of land in Incheon from the Incheon city government in 2012. The battle between the two rivals began in 2012, when Lotte signed a 900 billion won ($836.4 million) deal with Incheo
IndustryNov. 14, 2017
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TCL to start sales of BlackBerry smartphone in Korea
South Korea's unit of Chinese tech giant TCL Corp. said Tuesday it will start sales of the black edition of BlackBerry's KEYone smartphone here starting next month.The KEYone, which marks the first BlackBerry smartphone to be released in the market after TCL's purchase of the brand last year, runs on Google's Android platform and comes with a QWERTY keypad.It comes with a 12-megapixel camera on the back and an 8-megapixel camera in the front. (Yonhap)TCL Communication Korea said it is currently
TechnologyNov. 14, 2017
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Watchdog probes Apple for shifting advertisement costs to mobile carriers
South Korea's corporate watchdog is probing US tech giant Apple Inc.'s practice of shifting the cost of advertisements to local mobile carriers, industry sources said Tuesday.South Korea's three mobile carriers started television advertisements for the iPhone 8 earlier this month. According to the sources, local mobile carriers currently bear the full cost of Apple's commercials, which could be considered an unfair business practice."Whenever there's a new product, mobile carriers air the same a
TechnologyNov. 14, 2017
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Govt. unveils new safety rules on drone flight
The government has unveiled a new set of safety standards for drone flying following the recent revision of a related law, the transport ministry said Tuesday.The amended aviation safety law came into force last week, allowing drones to fly at night or beyond the pilot's visual line of sight once safety requirements are met.Under the standards, drones should pass a set of safety tests and requirements to be flown at night or out of their pilot's direct line of sight. (Yonhap)To prepare against e
IndustryNov. 14, 2017
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Govt. to retain budget for anti-smoking programs after heavy criticism
Parliament is to reinstate the reduced budget for anti-smoking programs, sources said Tuesday, following public criticism that the country is neglecting its responsibility despite a rise in revenue brought on by higher cigarette prices.The assembly's budgeting subcommittee on Monday set next year's anti-smoking assistance budget at 146.7 billion won ($131 million), up 13.5 billion won from the prior proposal so as to meet this year's level. The budget needs to pass the health and welfare committ
EconomyNov. 14, 2017
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Naver claims news page to be balanced despite scandal
South Korea‘s top portal operator Naver Corp. said Monday its news section maintains balance despite rising suspicions over its neutrality after the company recently admitted to intentionally editing sports news rankings.Last month, Naver admitted rearranging its news page at the request of an official from the Korea Professional Football League, who wanted negative news about the body to be less conspicuous on the portal. (Yonhap)“While we express our apology over the issue on the sports sectio
IndustryNov. 13, 2017
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Five local brokerages obtain license for investment banking
The nation’s financial regulator on Monday gave approval to five brokerage companies on starting investment banking businesses, as part of the government’s economic blueprint to boost the global competitiveness of local financial players.The five securities firms are Mirae Asset Daewoo Securities, NH Investment & Securities, Korea Investment & Securities, KB Securities and Samsung Securities, according to the Financial Services Commission. Among them, Korea Investment & S
MarketNov. 13, 2017
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Government vows incentives to ‘social finance’ players
Financial authorities on Monday vowed full-fledged support for companies that pursue social values, under a long-term vision that co-prosperity is vital for the nation‘s economic sustainability.“In order for the social finance model to settle as an independent and sustainable economic system, it is crucial to build a related hardware,” said Choi Jong-ku, chairman of the Financial Services Commission, in a meeting with the FSC-affiliated Financial Development Council members. Ca
MarketNov. 13, 2017
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[Photo News] Amorepacific set to move to Yongsan HQ
AMOREPACIFIC BACK IN YONGSAN -- Cosmetics group Amorepacific said Monday that it will begin moving its employees to its newly built headquarters in Yongsan-gu, Seoul, starting from Nov. 20. Designed by British architect David Chipperfield, the building has been inspired by traditional Korean moon jars. It is the third Amorepacific headquarters building to be built on the Yongsan site, following previous buildings erected in 1956 and 1976. (Amorepacific)
IndustryNov. 13, 2017
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[Monitor] Korea's global market share in exports to break record
With South Korea‘s exports rallying, its global market share is to touch a record high at 3.33 percent this year, a report by the Institute for International Trade, Korea International Trade Association, showed Monday.This is beyond 3.19 percent, the most recent record high, marked in 2015.The buoyant export trend is also expected to significantly help the local economy, with the contribution rate of exports reaching 78.5 percent as of the first nine months this year, the highest mark in f
EconomyNov. 13, 2017
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Asiana pilots chatbot service
Asiana Airlines is beginning a pilot chatbot service through KakaoTalk and Facebook, according to the airline Monday.Passengers flying Asiana will be able to check information in 11 categories, such as reservations, keep track of departures and arrivals and find information about mileage points through the chatbot service, which is available in both Korean and English. Asiana Airlines’ chatbot service on KakaoTalk (Asiana Airlines)The service was developed using Microsoft’s cloud platform Azure
IndustryNov. 13, 2017
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Paris Baguette speeds up efforts to transfer bakers
Bakery chain Paris Baguette is speeding up its efforts to hold explanatory sessions for bakers working at its franchises to convince them to agree to employment with a new third-party corporation.The third-party corporation, which will be jointly created by Paris Baguette, franchise owners and outsourcing companies, is designed to allow Paris Baguette to continue employing outsourced bakers at its stores in line with current labor laws.Paris Baguette franchises have employed nearly 5,400 bakers
IndustryNov. 13, 2017
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Louis Vuitton’s sales in Korea slump
The sales growth rate of Louis Vuitton has backtracked this year at the nation’s major department stores, losing its market prestige as one of the most desired luxury brands, industry sources said Monday. A Louis Vuitton retail shop in Korea (Yonhap)According to market insiders, sales of the French luxury brand at a department store between January and October slipped 5.3 percent from the same period last year, while that of its rival luxury brands, Chanel and Hermes, rose 11.2 percent and 16.5
IndustryNov. 13, 2017
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5 brokerages granted licenses for investment banking
South Korea's financial regulator on Monday granted licenses to five brokerages so they can engage in investment banking businesses and help local firms become global players in this critical business sector going forward. The five securities firms are Mirae Asset Daewoo Securities, NH Investment & Securities, Korea Investment & Securities, KB Securities and Samsung Securities, the Financial Services Commission said in a statement. However, only Korea Investment & Securities wa
MarketNov. 13, 2017