Most Popular
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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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[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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[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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Seoul Metro to seek legal action against malicious complaints
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Illit, mired in controversy, remains on Billboard charts for 5th week
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S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
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IKEA opens second store in Korea
Global furniture giant IKEA opened its second store in South Korea on Thursday, joining competition with small and big rivals in the region.The new outlet in Goyang in the northwestern outskirts of Seoul is located on the second and third floor of a four-story building. A separate outlet mall run by South Korean retail giant Lotte is located in the first floor and the first basement level of the same building. "We are excited to open our doors and offer better accessibility to the people in Seou
IndustryOct. 19, 2017
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Korea to mandate emergency braking system on all vehicles
South Korea's transport ministry said Thursday it will require all vehicles and large trucks to have an advanced emergency braking system and lane departure warning system to improve safety on the road. The Ministry of Land, Infrastructure and Transport said it will revise vehicle safety regulations to require the automatic safety systems as part of efforts to reduce drowsy driving-related crashes. (Yonhap)Currently, commercial vehicles longer than 11 meters and trucks and special purpose vehic
MobilityOct. 19, 2017
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Hyundai Jan-Sept China sales plunge 42% amid THAAD woes
South Korea's Hyundai Motor Group said Thursday its sales in China plunged 42 percent in the January-September period amid the long-drawn bilateral diplomatic row over an anti-missile system. From January to September, Hyundai Motor Co. and its affiliate Kia Motors Corp. sold a combined 702,017 vehicles, down from 1.2 million units from a year earlier, according to the companies' sales data. Hyundai Motor suffered a 37-percent on-year decline at 489,340 autos in the first nine months and Kia Mo
MobilityOct. 19, 2017
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US citizens hold half of foreign-owned real estate in Korea
US citizens possessed half of all real estate owned by foreigners in South Korea, and the southern resort island of Jeju received the most investment under an accommodative visa policy, a parliamentary report showed Thursday.Foreigners held 233.5 million square meters of land nationwide as of the end of 2016, which is worth 32.3 trillion won ($28.2 billion), Rep. Kim Chung-woo of the ruling Democratic Party said, based on the data provided by the finance and justice ministries. (Yonhap)By nation
IndustryOct. 19, 2017
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Korean stocks edge up late Thursday morning
South Korean stocks traded slightly higher Thursday morning, recouping earlier losses, on the back of foreign buying.The benchmark Korea Composite Stock Price Index rose 2.98 points, or 0.12 percent, to 2,485.89 as of 11:15 a.m. Market kingpin Samsung Electronics was 1.35 percent down, and SK hynix, a major chipmaker, dipped 0.49 percent.In contrast, Naver, the country's top Internet portal operator, advanced 0.98 percent, and Hyundai Motor, the No. 1 automaker, surged 1.33 percent.No.1 steelmak
MarketOct. 19, 2017
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LG Electronics joins ties with Qualcomm on self-driving auto components
LG Electronics Inc. said Thursday it has inked an agreement with US chipmaker Qualcomm Inc. to tap deeper into the industry for self-driving automobile parts.Under the agreement, the two companies opened a join research lab for V2X technology in Seoul. They also plan to establish another research center in South Korea by the end of this year. (AP-Yonhap)The V2X technology, which refers to "vehicle to everything," focuses on bolstering connectivity among cars, infrastructure and pedestrians to en
MobilityOct. 19, 2017
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Korea's financial debt-to-GDP ratio reaches nearly 100% in 2016
The ratio of South Korea's financial debt to gross domestic product reached nearly 100 percent last year amid rapidly rising household lending, a report showed Thursday.South Korea's combined household financial credit and nonprofit organizations accounted for 95.6 percent of the country's GDP in 2016, up 4.6 percentage points from a year earlier, according to the report by Rep. Kim Du-kwan submitted to parliament. The country GDP was tallied at $1.64 trillion last year. The debt-to-GDP ratio ha
EconomyOct. 19, 2017
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BOK raises economic growth outlook to 3%, holds rate at 1.25%
South Korea's central bank on Thursday revised up its growth outlook for Asia's fourth-largest economy this year to 3 percent as it held its key rate steady for October.In a widely expected move, the monetary policy board of the Bank of Korea voted to keep the key rate at 1.25 percent, extending its wait-and-see approach for the 16th consecutive month.In June last year, South Korea's central bank made a surprise rate cut, citing the need to stimulate the lackluster economy amid a prolonged econo
EconomyOct. 19, 2017
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Self-taught, 'superhuman' AI now even smarter: makers
The computer that stunned humanity by beating the best mortal players at a strategy board game requiring "intuition" has become even smarter, its makers said Wednesday.Even more startling, the updated version of AlphaGo is entirely self-taught -- a major step towards the rise of machines that achieve superhuman abilities "with no human input", they reported in the science journal Nature. (DeepMind-Yonhap)Dubbed AlphaGo Zero, the Artificial Intelligence (AI) system learnt by itself, within days,
TechnologyOct. 19, 2017
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Stocks open slightly higher on overnight US gains
South Korean stocks opened slightly higher Thursday, taking a cue from overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index climbed 2.70 points, or 0.11 percent, to 2,485.61 in the first 15 minutes of trading. Market kingpin Samsung Electronics shed 1.35 percent , and SK hynix, a major chipmaker, fell 0.99 percent.In contrast, Hyundai Motor, the No. 1 automaker, moved up 1.66 percent, and top chemical firm LG Chem rose 0.91 percent.POSCO, the steelmaker, advanced 3.44 p
MarketOct. 19, 2017
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Korean washers top US product evaluation reports amid moves toward protectionism
South Korean washers topped product reviews by major US consumer evaluators, industry watchers said Thursday, as Washington's trade commission moves to take protectionist steps.Earlier this month, the US International Trade Commission determined that products made by Samsung Electronics Co. and LG Electronics Inc. are exerting an adverse impact on the domestic industry. The announcement was made after a safeguard petition was proposed by US-based Whirlpool Corp. (Yonhap)Samsung and LG, along wit
TechnologyOct. 19, 2017
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Inconsistent policy hobbles resources development abroad
Korea’s policy to develop energy and other mineral resources abroad has been inconsistent, biased toward short-term achievement and swayed by political winds.As a result, the country’s state-run energy and resources firms have shown a pattern of acquiring overseas oil rigs and mining fields at high prices and disposing of them at low prices. Over the past several years, Korea has swung from an aggressive push for overseas resources development to a hasty withdrawal from it.Under the
EconomyOct. 18, 2017
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LIG Nex1 showcases low-cost fire-and-forget missiles at ADEX 2017
LIG Nex1, the third-largest defense company in South Korea by market cap, has showcased its tactical assets ranging from guided missiles to radars and robots at the biannual Seoul International Aerospace & Defense Exhibition 2017, which started Tuesday.LIG Nex1 presented outdoors the low-cost 2.75-inch guided rocket Logir, or “Bigung” in Korean, for which the firm embarked on a mass production project in January, as well as anti-artillery radars, one of which LIG Nex1 completed an upgrade for in
IndustryOct. 18, 2017
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Asiana donates to Chinese school
Asiana Airlines, South Korea’s second-largest carrier by market cap, has supplied multimedia equipment for classrooms in a Chinese primary school and provided lessons on what it is like to become a flight attendant, according to the firm Wednesday. The classroom equipment, including 10 computers, found its way on Tuesday to Wenhua Street Primary School, located in the northeastern Inner Mongolia autonomous region in China. Some 900 students are expected to benefit from the program, according to
IndustryOct. 18, 2017
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Hyundai Mobis develops world's first air bags for sun roofs
Hyundai Mobis Co., South Korea's largest auto parts maker by sales, has developed an air bag system for a sun roof for the first time in the automobile industry, the company said Wednesday."In the past two and a half years, the company has developed the air bag system mainly for panoramic sun roofs in sport-utility vehicles to minimize impacts in case of a rollover crash," a company spokesman said by phone. (Yonhap)The advanced technology development will help Hyundai Mobis win air bag orders p
MobilityOct. 18, 2017
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Children's finger paints found to contain toxins
Finger paint from many different brands sold in South Korea have been found to contain toxins, according to a study by the Korea Consumer Agency.Out of twenty brands tested, half showed toxic levels of preservatives, acidity and microorganisms. The study utilized safety standards for children‘s toys that are scheduled to go into effect on Feb. 1 next year.Six brands were found to have unacceptably high levels of chloromethylisothiazolinone and methylisothiazolinone, commonly referred to as CMIT
IndustryOct. 18, 2017
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Mercedes-Benz Procurement scouts suppliers in Korea
German carmaker Mercedes-Benz met with trendsetting Korean companies in consumer electronics to scout for new suppliers, the company said Wednesday.The Mercedes-Benz Procurement and Supplier Quality booth at the Korea Electronics Show at Coex in Seoul (Mercedez-Benz)Mercedes-Benz was the first OEM automaker to participate in the four-day Korea Electronics Show that began Tuesday, where it met with potential suppliers. One of the companies that met with Mercedes-Benz was Geo-Line, a startup that
IndustryOct. 18, 2017
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Kia signs multi-year marketing partnership agreement with NBA
Kia Motors Corp. has signed a multi-year marketing partnership agreement with the US National Basketball Association, the company said Wednesday. The agreement with the NBA also applies to the Women's National Basketball Association and the NBA G League, the NBA's official minor league basketball organization, the Korean carmaker said. (Yonhap)Kia, an affiliate of Hyundai Motor Co., has continued to sponsor the major sports events as part of efforts to enhance its brand image in the world's mos
MobilityOct. 18, 2017
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US vows to closely monitor Korea's currency practices
The United States did not designate South Korea and four other major trading partners currency manipulators, but it has vowed to closely monitor their currency practices."No major trading partner of the United States met the standards... for currency manipulation in the first half of 2017," the Treasury Department said Tuesday in a report made to Congress.Still, the Treasury placed South Korea, China, Germany, Japan and Switzerland on its Monitoring List for special attention. Taiwan w
EconomyOct. 18, 2017
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[Monitor] South Korea’s export prices inch up
South Korea’s export prices increased slightly last month from August largely due to rising prices of oil and raw materials, the Bank of Korea said Wednesday.Based on local currency, the prices rose 0.9 percent in September from the previous month, driven by a rise in oil prices that raised petrochemical product prices.Export prices increased 10.9 percent on-year in September, marking the highest since March 2009.Meanwhile, import prices also rose 1.7 percent in September from a month earl
EconomyOct. 18, 2017