Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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Banks urged to improve consumer welfare, avoid excessive lending
The head of the Financial Supervisory Service urged banks and other financial institutions Tuesday to improve consumer welfare and avoid excessive lending. Choe Heung-sik, governor of the FSS, made the remarks earlier in the day during a meeting with representatives from banking and other financial industry lobby groups, the FSS said in a statement. During the meeting, Choe said some banks and financial institutions are still selling products to consumers with "wrong information."
MarketSept. 26, 2017
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Seoul shares almost flat in late Tuesday morning on profit-taking
South Korean stocks traded almost flat late Tuesday morning on profit-taking, analysts said.The benchmark Korea Composite Stock Price Index inched down 0.22 point, or 0.01 percent, to 2,380.18 as of 11:20 a.m.On Monday (local time), US stocks declined, with the Dow Jones industrial average dropping 0.2 percent and the broad-based S&P 500 decreasing 0.2 percent. The tech-rich Nasdaq Composite Index tumbled 0.9 percent.Most large caps traded mixed with market kingpin Samsung Electronics losing
MarketSept. 26, 2017
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State insurance to cover more dementia, fertility treatments
South Korea's national health insurance will provide greater coverage for the treatment of infertility and serious dementia starting in October, the health ministry said Tuesday, which is in line with the government's effort to reduce financial burdens on patients.The Ministry of Health and Welfare said the revision to the relevant law was passed during a Cabinet meeting.Under the revision, patients suffering from serious dementia will only be required to pay 10 percent of medical expenses and t
EconomySept. 26, 2017
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Samsung Galaxy tops Korea's brand value list for 7th straight year: poll
Samsung Electronics Co.'s Galaxy smartphones topped the list of brand value in South Korea for the seventh consecutive year as of the third quarter of 2017, a survey showed Tuesday.Galaxy got 940.98 points out of a possible 1,000 points in the "Top Index" by South Korean market research firms Brandstock. The Samsung brand has retained the top spot since July-September of 2011. (Yonhap)Naver, South Korea's biggest Internet portal, closely trailed at 931.9 points.Brandstock attributed Naver's str
TechnologySept. 26, 2017
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Korea to ease regulations to make better use of state-owned property
South Korea will ease regulations on leasing state-owned properties to make better use of neglected public assets, the finance ministry said Tuesday.The Cabinet approved a revised law that allows the government to cut rents on its buildings and land that have not been fully utilized for a long time and to extend leasing contracts by up to 20 years, according to the Ministry of Strategy and Finance. Also, the government will be allowed to impose higher fines on those who occupy state-owned l
EconomySept. 26, 2017
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TEC, going the extra mile in Korea
After enjoying a boom over the past few years in Korea, The Executive Centre, a Hong Kong-based shared office operator, is seeking an even bigger presence here.Over the next five years, TEC will be looking for new opportunities across Korea.The plans come on the heels of the success TEC has enjoyed in Korea. TEC Korea’s sales are expected to reach 10 billion won ($8.81 million) this year, making it the fourth largest after Hong Kong, Beijing and Shanghai.As a leading shared office company in Asi
IndustrySept. 26, 2017
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Banks to donate W20b for PyeongChang 2018
South Korean banks will donate 20 billion won ($17.7 million) to the organizing committee of the PyeongChang Winter Olympics to help the nation successfully host the quadrennial sports extravaganza, the Korea Federation of Banks said Tuesday. Besides the donation, banks will buy 1 billion won worth of tickets for the games, according to the federation. KEB Hana Bank, an official supporter of the games, also signed a sponsorship deal worth 11.1 billion won. The donation is in line with banks
MarketSept. 26, 2017
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Korean airlines to hire 3,000 pilots by 2022
Local South Korean airline carriers plan to train and hire 3,000 pilots by 2022 to meet growing demand, the transport ministry said Monday.The move is designed to help meet rising demand for airline service as an increasing number of Koreans opt to travel abroad. Currently, low-cost carriers offer flights mainly on Asian routes at reasonable prices, driving up overseas travel demand. (Yonhap)As the country's eight airlines plan to add 152 planes to their fleets during the 2018-2022 period, they
IndustrySept. 26, 2017
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Hyundai, Kia to debut new cars in China to tackle sliding sales
South Korea's leading automakers Hyundai Motor Co. and Kia Motors Corp. are poised to unveil a series of new cars in China in a bid to help revive slumping sales in the world's top auto market, sources said Tuesday.Industry leader Hyundai Motor and its smaller affiliate Kia Motors have been struggling with plunging sales in China since late last year due to a Seoul-Beijing row over the deployment of an advanced US missile defense system here, which China considers a security threat. This photo p
MobilitySept. 26, 2017
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Korean stocks open lower on US losses
South Korean stocks opened lower Tuesday, tracking overnight losses on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index fell 7.14 points, or 0.3 percent, to 2,373.26 in the first 15 minutes of trading. Most large caps traded mixed, with market kingpin Samsung Electronics losing 1.72 percent and global chipmaker SK hynix shedding 2.78 percent.In contrast, leading steelmaker POSCO gained 1.46 percent, and No. 1 automaker Hyundai Motor gained 2.13 percent.US stocks d
MarketSept. 26, 2017
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S. Korea's commerce minister allays fear over N. Korea
South Korea's commerce minister said Tuesday the nation's economic fundamentals remain sound despite North Korea's provocations, and called on foreign enterprises doing business here to increase their investments. Paik Un-gyu, the chief of the Ministry of Trade, Industry and Energy, said in a meeting with local directors of international companies, including Boeing, 3M, IKEA, BMW and Oracle, that there is no need to be overly worried about Pyongyang's latest provocations. The policymaker then ex
EconomySept. 26, 2017
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Consumer sentiment drops in Sept. on geopolitical risks
South Korea's consumer confidence fell for the second month in a row in September on the North Korea risk and Seoul's row with Beijing over a missile defense system, a central bank poll showed Tuesday.The composite consumer sentiment index for September stood at 107.7, down 2.2 points from the previous month, according to the survey by the Bank of Korea. In August, the index fell 1.3 points from July. A reading above 100 means optimists outnumber pessimists."The issue of North Korea's nucle
EconomySept. 26, 2017
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Corporate direct financing dips 24% in Aug.
South Korean companies' equity and debt sales plunged more than 24 percent in August from the previous month due mainly to one-off and seasonal factors, government data showed Tuesday. Local companies raised 10.9 trillion won ($9.6 billion) by selling stocks and bonds last month, down 24.4 percent from July, according to the data from the Financial Supervisory Service. Stock sales, including seven initial public offerings, tumbled 69.4 percent on-month to 389.3 billion won in August.The fin
MarketSept. 26, 2017
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Anti-graft law has limited impact on domestic economy: data
The Improper Solicitation and Graft Act has continuously been questioned over the crippling effect it allegedly holds over domestic consumption, but after a year in implementation, its impact on most sectors of the economy turned out to have been limited, according to the latest data.The anti-graft law, often dubbed the Kim Young-ran law after its initiator, did weigh down on upmarket restaurants, floricultural industries and liquor shops but key economic indexes displayed little fluctuation, th
EconomySept. 25, 2017
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LG Electronics taps further into car components, energy businesses
South Korean electronics giant LG Electronics is moving to increase its investments in vehicle components and energy businesses to equip itself with future growth engines.LG Electronics first launched its vehicle components division in July 2013 and it has posted sales growth for nine consecutive quarters. Starting last year, the vehicle components unit has been supplying a total of 11 auto parts and systems, including electric drive motors, power invertor modules, battery cells and high power d
TechnologySept. 25, 2017
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Home meal replacements, health food production rise with shifting lifestyle
Production of health food products and home meal replacements rose significantly in 2016, as Koreans are cooking less at home and focusing on healthy living, according to data released Monday.According to the Food and Drug Safety Ministry, products in the home meal replacement category rose in production across the board. Production of ready-to-cook and ready-to-eat products rose from 1.04 trillion won ($920.5 million) to 1.55 trillion won, while boxed meals like those sold at convenience stores
IndustrySept. 25, 2017
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McDonald's to run safety checks on stores nationwide
McDonald’s Korea said Monday that it will be cooperating with the Korea Food Safety Association to run an independent nationwide safety check on its stores.(McDonald's)The inspections, to cover 80 items including compliance with food sanitation laws, store facilities, employee sanitation and ingredient inventory management, will come as part of McDonald‘s previously announced plans to strengthen safety at its stores following allegations of products leading to adverse health effects.The unannoun
IndustrySept. 25, 2017
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[Reshaping Semicon Map] Samsung's next task: AI chips to empower devices
A new, urgent task of Samsung, the world’s unrivalled memory chip provider, seems to be developing chips for artificial intelligence applications on devices, including the company’s AI program Bixby on smartphones and connected home appliances, an emerging cash cow sought by many chip ventures around the world.Though belatedly compared to its major rivals such as Qualcomm, the South Korean tech behemoth has embarked on research and development of so-called “AI chips” with a goal of commercializa
TechnologySept. 25, 2017
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LG jumps into home beauty market
LG Electronics on Monday announced its surprise entry into the growing home beauty market by launching four skin care devices.By combining the company’s hardware manufacturing capabilities and the cosmetics business of affiliated LG Household & Healthcare, the tech titan said it aims to expand into the beauty device market. Branded as Pra.L, LG’s home beauty appliance lineup consists of the Derma LED Mask, the Total Lift-up Care, the Galvanic Ion Booster and the Dual-Motion Cleanser. Models int
TechnologySept. 25, 2017
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Additional stimulus mulled to bolster weakening economy
The growing signs of the Korean economy weakening amid deteriorating conditions at home and abroad are prompting the government to work on additional stimulus measures.Economic indicators have taken a steep downturn in recent months.The on-year increase in the number of employees remained at 212,000 in August, the lowest in four and a half years, according to Statistics Korea.Output in the sector of restaurants and accommodating facilities fell 4.3 percent from a year earlier in July, reflecting
EconomySept. 25, 2017