Most Popular
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Korean labor force to shrink by 10 million by 2044: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Allegations surrounding BTS resurface, enraged fans demand apology
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Students with history of violence will be barred from becoming teachers
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Medical feud leaves hospitals in financial crisis
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Samsung mocks Apple over iPhone alarm glitch
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Chip up cycle won’t stay long: SK chief
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'Queen of Tears' riding high on Netflix chart
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Speaker floats dual citizenship as solution to falling births
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[ITU 2017] ITU Telecom World ends with 5G in focus
BUSAN -- ITU Telecom World on Thursday wrapped up its four days of exchanges on opportunities and risks stemming from the emergence of new technologies. Thousands of ICT ministers, government officials and business leaders visited the southern port city of Busan to attend the event.The participants of the UN-backed ICT conference also discussed ways to address challenges in the global ICT segment, including the digital divide and the adoption of standards for next-generation networks.At this yea
TechnologySept. 28, 2017
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SK hynix to build W200b R&D center for NAND, future techs
South Korean memory chipmaker SK hynix announced Thursday it will invest more than 200 billion won to build a research and development center for its emerging cash cow NAND in the company’s headquarters in Icheon, Gyeonggi Province. When completed in September 2019, dispersed R&D crews across the Icheon campus will move in to the new center, including researchers and developers of the company’s flagship 3-D NAND chips and future technologies. The new R&D center will break ground next month on ab
TechnologySept. 28, 2017
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[ITU 2017] Meet Musio, the AI social robot that understands humans
BUSAN — Artificial intelligence has recently begun to step closer into our lives — primarily in the form of voice-activated smart speakers like the Amazon Echo and Google Home or digital assistant software built into smartphones like Apple’s Siri or Samsung’s Bixby. These devices all claim to be the so-called “chatbots,” but their ability to converse mostly stops at providing answers to one-ended inquiries or carrying out specific tasks commanded by humans.Seeking to create a more personable AI,
TechnologySept. 28, 2017
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Labor disputes escalate at Hyundai, GM amid stalled wage talks
Tension mounted at production plants at South Korea’s two major automakers ahead of the weeklong Chuseok holiday, with unionized workers pledging to increase pressure on management over stalled wage negotiations.Unionized workers at Hyundai Motor, the nation’s largest carmaker, are set to hold a vote to form a new executive body, with two final candidates, both known as hard-liners, running in the election on Friday. Both candidates have remained adamant, vowing that they won’t compromise with t
MobilitySept. 28, 2017
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[Monitor] 1 in 5 new businesses opened by young entrepreneurs
One in 5 new businesses that opened last year were owned by young people (classified as those in their late teens, 20s, 30s), data by the National Tax Service showed.The most preferred establishments were mail-order businesses, restaurants and commodities brokerages.A majority, or 56.7 percent, of the young and new business owners were men. But there were more women among new business owners aged 20 and 21. By sustainability, manufacturing businesses had the longest rate of 40.7 percent, followe
EconomySept. 28, 2017
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Korea reassures economy intact despite NK tension
The South Korean government on Thursday continued to reassure on the economy’s stability despite escalating security tensions on the Korean Peninsula, as pundits also raised caution that the new level of risk may affect the markets.Deputy Prime Minister and Finance Minister Kim Dong-yeon on Thursday held a ministerial-level meeting to review and discuss the pending situation and economic policies in Seoul.“The persisting North Korea risk is touching off a bit of concerns, but Korea&r
MarketSept. 28, 2017
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Benz hosts ‘FC Kids Benz’ in Yeonpyeong for Chuseok
Mercedes-Benz CSR Committee held this week a variety of CSR activities including the “FC Kids Benz” football class at Yeonpyeong Elementary School located in the Yeonpyeong Island, the front line of the West Sea in celebration of the Chuseok holidays, the company said Thursday.For two days from Tuesday, some 20 employees of the Daimler affiliates in Korea and all 66 students of Yeonpyeong elementary school participated in a football class. During the four-hour class, the students were given less
MobilitySept. 28, 2017
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Pads, diapers are safe: government study
Preliminary results of a study conducted by the Food and Drug Safety Ministry released Thursday found that menstrual care products and diapers distributed in Korea are safe to use, with potentially toxic chemicals only found in trace amounts.“A toxicity study on 10 highly toxic volatile organic compounds found that these VOCs were present in low levels that did not have harmful effects on the human body,” the ministry said. (Yonhap)The study was conducted on 666 menstrual care products and 10 di
IndustrySept. 28, 2017
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LG Hausys makes inroads into Southeast Asia
LG Hausys, a South Korean construction material supplier, has completed establishing its Vietnam office and has started to participate in local exhibitions as part of its full-fledged advancement into the fast-growing Southeast Asian market.The company said Thursday that it has finished setting up the office in Ho Chi Minh to target Vietnam and the surrounding regions with expanding construction projects for new cities and tourism facilities. Caption: A LG Hausys official explains the company’s
IndustrySept. 28, 2017
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Toshiba inks deal to sell memory biz to global consortium
Japanese tech giant Toshiba Corp. said Thursday it signed off on a deal to sell its memory business to a global consortium which includes South Korea's SK hynix Inc.Toshiba earlier decided to start negotiations on selling its memory business to the consortium including participants from South Korea, the United States and Japan. The companies also include Bain Capital, Apple Inc. and Dell Inc., and a handful of other tech firms.The deal is estimated to be worth 2 trillion yen ($17.6 billion).Tosh
TechnologySept. 28, 2017
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Korean stocks end higher on expectations of solid Q4 earnings
South Korean stocks ended slightly higher Thursday as investors bought large-cap stocks on expectations of solid fourth quarter earnings, ending a seven-session losing streak. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index gained 0.57 points, or 0.02 percent, to 2,373.14.Lee Kyung-min, an analyst at Daishin Securities, said investors purchased large-cap stocks in auto, tech and chemical sectors in anticipation of their strong earnings in the July-Septem
MarketSept. 28, 2017
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Transport minister vows to remove red tape on drones, autonomous cars
South Korea's transport minister on Thursday said the government will expedite plans to remove red tape for fast-changing technologies like drones and autonomous cars to foster innovation and develop the related industries."If the law and system fails to catch up with the speed of technology development, authorities only create regulatory setbacks for technology and industrial innovation," Kim Hyun-mi, minister of land, infrastructure and transport, said in a meeting with reporters. "I will acce
MobilitySept. 28, 2017
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Korea to take market-stabilizing measures to deal with possible FX fluctuation
South Korea will take market-stabilizing measures if the country's foreign exchange becomes more exposed to volatility due to an external shock, a senior finance ministry official said Thursday."Foreign exchange rates will be decided autonomously by the market," Deputy Finance Minister Hwang Kun-il said at a symposium in Seoul. "But the government will take action if the rates experience a wide fluctuation in line with standing procedures." He said the government will be
MarketSept. 28, 2017
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Elderly Koreans spending less money than advanced countries: report
South Koreans in their 60s are spending less money than those in other developed countries, showing a decline in consumption propensity, a report showed Thursday.The propensity to consume among those in their 60s decreased 10.1 percentage points to 68.1 percent in 2015 from 78.2 percent in 2003, according to a report by the Bank of Korea on aging society and consumption.“Generally, older people tend to show higher consumption propensity than middle-aged men and women. But elderly Koreans are sho
IndustrySept. 28, 2017
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Korea's Q4 export growth outlook expected to drop off
Despite three consecutive quarters of the export business survey index exceeding scores of 100, Korea’s fourth-quarter export growth is expected to drop off, according to a report from the Korea International Trade Association on Thursday. The local trade agency announced that its export business survey index of 801 exporting companies hit 100.3 for the fourth quarter, a 16.3-point drop compared to this quarter’s 116.6 and a 5.7 slide from the second quarter’s 106. Despite the slowdown, next q
IndustrySept. 28, 2017
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Number of businesses in Korea up 2% in 2016
The number of companies doing business in South Korea rose slightly in 2016 from a year earlier amid a protracted economic slump, government data showed Thursday.There were 3.95 million businesses last year, up 2 percent, or 78,000, from 2015, according to the data from Statistics Korea.They employed a combined 21.33 million workers in 2016, up 2.1 percent on-year. (Yonhap)Over the 10-year period from 2006, the number of companies jumped 22.5 percent and that of employees increased 38.2 percent.
IndustrySept. 28, 2017
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Samsung, SK Telecom links 4G, 5G networks for first time
Samsung Electronics Co. and SK Telecom Co. on Thursday demonstrated the communication between fourth-generation and fifth-generation networks for the first time in the industry, the companies said.The South Korean tech giant and the country's No. 1 mobile carrier said they successfully made communications between the long-term evolution network that utilizes 2.6 GHz frequency band, with that of the 5G network that uses the 28 GHz and 3.5 GHz frequency band.Samsung said the communication was made
TechnologySept. 28, 2017
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Top tax official attends OECD meeting
South Korea's national tax office said Thursday its chief is attending a meeting of top tax officials from leading industrialized economies on tackling offshore tax evasion.Han Seung-hee, commissioner of the National Tax Service, is now in Oslo to participate in the 11th meeting of tax chiefs from the Organization for Economic Cooperation and Development that kicked off in the Norwegian capital Wednesday for a three-day run.The conference brings together the top tax officials from 35 OECD member
EconomySept. 28, 2017
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Samsung's Galaxy advertisement wins 7 titles at Clio Awards
Samsung Electronics Co. said Thursday its Galaxy smartphones advertisement won seven awards from the 58th Clio Awards held in New York.The South Korean tech giant said its advertisement dubbed "Ostrich" won one gold in short film and four silvers in directing, cinematography, animation and visual effects. Samsung also won two bronzes for editing and music. (Yonhap)Samsung Electronics said the Clio Awards can be considered one of the world's top three advertising competitions, along with the Cann
TechnologySept. 28, 2017
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[ITU 2017] Samwon FA showcases transport system technologies at ITU Telecom World
Among the smaller companies that joined this week’s ITU Telecom World 2017 in Busan was a Korean tech firm, Samwon FA, which showcased its intelligent transport systems solutions and technologies.Samwon FA is a producer of automatic fare collection systems for buses and urban rail transit as well as electronic payment solutions for retailers and parking lots.Samwon FA exhibits its intelligent transport systems technologies at ITU Telecom World 2017, which took place in Busan from Monday to Thurs
TechnologySept. 28, 2017