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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Probe of first lady on Dior bag allegations set to begin
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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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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'Queen of Tears' riding high on Netflix chart
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Samsung mocks Apple over iPhone alarm glitch
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Hyundai, Kia's brand value up on technology, innovation
The brand value of South Korea's top two automakers -- Hyundai Motor Co. and Kia Motors Corp. -- rose this year due to their investments in future car technologies and design innovation, respectively, industry data showed on Monday.In the Interbrand Best Global Brands 2017 rankings, Hyundai Motor ranked 35th, with its brand value rising 5.1 percent to $13.2 billion this year from $12.5 billion a year earlier. (Yonhap)"Hyundai Motor is working incredibly hard to realize its vision for Future Mobi
MobilitySept. 25, 2017
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BOK says half of manufacturing firms to hire recruits next year
About half of South Korea's manufacturing firms have hiring plans next year, the central bank said in a report Monday.The Bank of Korea said 52 percent of 279 firms across the country said they plan to hire new recruits next year and among them, 38.9 percent said they will increase the number of recruits in 2018 compared with this year.By sector, 52.6 percent of information technology firms said they could hire more people in the new year vis-a-vis 2017. On the other hand, 10.5 percent of IT com
EconomySept. 25, 2017
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Hyundai Mobis supplies parts worth $4.8b for US, China
Until August this year, Hyundai Mobis, South Korea’s biggest auto parts maker by sales, has sealed orders worth a total $4.8 billion in the US and China between, up about five times compared to last year, the company said Monday. “The orders are meaningful in that they were made on quality recognition of our products among partners in North America and China,” said an official of Hyundai Mobis.Last year’s annual total had reached $1 billion. The company does not have more orders to close in the
MobilitySept. 25, 2017
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Korea's exports healthcare products rise in H1
South Korea's exports of health care and cosmetics goods continued to grow in the first half of this year on the back of strong global demand, government data showed Monday.Outbound shipments of locally produced drugs, medical equipment and cosmetics were valued at $5.41 billion in the January-June period, up 13.4 percent from a year earlier, according to the latest data from the Ministry of Health and Welfare. Exports of cosmetics products surged 20 percent on-year, the data showed, follow
EconomySept. 25, 2017
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LG Signature solidifies position as premium appliance brand
LG Electronics’ high-end home electronics and appliances brand, LG Signature, is cementing its position as a premium brand in the global market, with its solid sales providing a continued boost to its business. With the motto of providing the best performance, refined beauty and innovative use, the LG Signature family currently consists of four product categories: organic light-emitting diode TVs, washing machines, refrigerators and air purifiers. Participants look at LG organic light-emitting d
TechnologySept. 25, 2017
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Hyundai Engineering seals $330m power plant deal in Nigeria
South Korea’s Hyundai Engineering said Monday it sealed a $330 million deal with Kingline Development Nigeria to construct a power plant in Ondo, Nigeria.This is Hyundai Engineering’s first engineering, procurement and construction project in Nigeria. Hyundai Engineering CEO Sung Sang-rok and Kingline Development Nigeria CEO Kim Seung-wook signed the deal to supply a 550-megawatt gas turbine at the Hyundai Engineering headquarters in central Seoul, the company said. The power plant will be built
IndustrySept. 25, 2017
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LG seeks turnaround with V30, with broadened AI capability
It is never easy to satisfy the fast-evolving needs and preferences of tech-savvy consumers, who are currently moving towards bigger screens but with thinner and lighter devices for an easier grip with up-and-coming functions. LG Electronics, which has remained steadfast to its smartphone ambition through trial and error, has recently launched its flagship smartphone V30 on Aug. 31 that highlights its comfortable grip despite a 6-inch screen and high-end camera feature. With the well-rounded pho
TechnologySept. 25, 2017
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THAAD row could have impact on Korea's auto sector: Moody’s
Global rating agency Moody's Investors Service said Monday political tensions between South Korea and China over the deployment of an advanced US missile shield system could have some negative impact on the automotive sector here, though it expected the impact to be manageable. Moody's didn't expect the diplomatic rows with China to cause any immediate change in the ratings of three Moody's-rated auto industry companies -- Hyundai Motor Co., Kia Motors Corp. and Hyundai Mobis Co. -- given their
MobilitySept. 25, 2017
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Samsung Electronics is 6th most valuable brand in world: data
Samsung Electronics Co. emerged as the world's sixth most valuable brand in the world, the company said Monday on the back of its innovative products and strong presence in the chip industry.Citing the data compiled by US industry tracker Interbrand, Samsung Electronics made the top ranking list this year, moving a notch up from a year earlier.The company's brand value also moved up 9 percent on-year to $56.2 billion, it added. (Yonhap)Samsung said Interbrand praised its transparent communicati
TechnologySept. 25, 2017
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VW enters 2nd round of recall in Korea
Audi Volkswagen Korea Ltd. said Monday it has entered the second round of a recall of its vehicles affected by the diesel emissions scandal, a move designed to regain consumer confidence. In an extended recall that began Monday, the South Korean unit of Volkswagen Group will carry out a software update on a total of 82,291 units of its Volkswagen and Audi models equipped with the emissions-cheating 2.0-liter EA189 diesel engine, Audi Volkswagen Korea said in a statement. "The software update for
MobilitySept. 25, 2017
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Govt. announces measures to nurture IT talents
The government announced a comprehensive package of measures Monday to cultivate IT manpower considered essential to help local companies to take full advantage of the ongoing fourth industrial revolution.The ministry rolled out the blueprint for the next five years to deal with the latest revolutionary changes that are characterized by a fusion of cutting-edge technologies such as big data and the Internet of Things. Under the measures announced by the Ministry of Science and ICT, the governmen
TechnologySept. 25, 2017
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Korea pushes to build world's largest LNG-powered vessel
South Korea will launch a pilot program to build the world's largest vessel powered by liquefied natural gas in a bid to support more green shipping and develop associated industries, the Ministry of Oceans and Fisheries said Monday. The ministry said it will join forces with local shipyards, builders and state institutes to develop a class of 180,000-ton LNG-propelled vessels.The government launched a task force in January made up of local companies to develop the emerging marine transport sect
IndustrySept. 25, 2017
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Korean shares down 0.40% in late morning trade on profit-taking
South Korean stocks traded lower late Monday morning as institutions offloaded large-cap stocks on profit taking.The benchmark Korea Composite Stock Price Index lost 9.47 points, or 0.40 percent, to 2,379.24 as of 11:15 a.m.Kim Ye-eun, an analyst at Cape Investment & Securities, said institutions sold large-cap stocks in apparent profit-taking, which are to blame for losses on the main bourse. Large-cap stocks were mixed across the board.Market bellwether Samsung Electronics Co. gained
MarketSept. 25, 2017
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Income polarization deepened for decades due to unequal opportunity: report
Income polarization has deepened in South Korea during the past decades amid a growing number of high income earners coming from already rich and well-educated parents, a report said Monday.The report written by professor Ju Byeong-ki of Seoul National University said income has been set not only by the efforts of individuals but also the economic clout and education of their parents. The report, which analyzed the disposable income of selected households between 1998 and 2014, showed inequ
EconomySept. 25, 2017
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McDonald‘s Korea to perform outsourced sanitary inspection amid hamburger scare
The local unit of US fast food chain McDonald's said Monday it will carry out inspections of all of its stores in South Korea after its allegedly undercooked burger patties were accused of causing health problems in local consumers.The Korea Food Safety Association will visit 440 McDonald's stores throughout the country between September and February to check their overall food control processes, including sanitary conditions in the kitchens, the company said. This photo taken Sept. 3, 2017, sho
IndustrySept. 25, 2017
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State companies recoup third of investments made in overseas energy projects
South Korea's state-run energy firms have poured $38.85 billion into overseas resource development projects, but they have recouped a little over one-third of their investment due to a sharp drop in oil and gas prices in recent years, a report showed Monday. South Korea's state firms and private companies have spent a combined $74.63 billion on 476 resource exploration projects in 62 countries, including 141 in petroleum and gas, and 355 in mineral resources, according to the report submitted by
IndustrySept. 25, 2017
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Tumblr rejects Korea's request to regulate porn
US social media Tumblr has rejected the South Korean authorities' request to regulate adult content on its platform, claiming the company without a physical presence in the country is regulated by US law, a lawmaker in Seoul said Monday.The Korea Communications Standards Commission earlier sent a statement to Tumblr, requesting the US firm cooperate with South Korean authorities' push to crack down on pornography circulated online.But Tumblr said it is a service that enables broad freedom of exp
TechnologySept. 25, 2017
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Solar energy-related stocks dip on looming US import safeguard
Stocks of solar energy-related stocks in South Korea traded sharply lower Monday on concerns that the United States may take safeguard measures against solar panels imported from China and other countries, analysts said.OCI, South Korea's top producer of polysilicon, had sunk 5.16 percent to 101,000 won ($89) on the Seoul bourse as of 9:55 a.m., and No. 2 player Hanwha Chemical Corp. was 6.6 percent down at 33,250 won.Polysilicon is an essential raw material for solar cells to convert sunlight i
MarketSept. 25, 2017
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Local electronics companies offer big discounts during Korea Sale Festa: sources
South Korea's major consumer electronics producers are providing big discounts during the upcoming one-month shopping and tourism festival. which begins later this week to fuel consumption, industry sources said Monday.The Korea Sale Festa, the third of its kind, runs from Sept. 28 through Oct. 31 and comes as South Korea's retail industry is struggling from a sharp drop in the number of Chinese tourists amid Beijing's economic sanctions over Seoul's deployment of a US anti-missile system here.C
IndustrySept. 25, 2017
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Sales of seasonal fresh food soar ahead of Chuseok
Sales of agricultural and fisheries products currently in season increased ahead of the 10-day Chuseok holiday, which is set to kick off this weekend, industry data showed Monday.As South Koreans began preparing for the holiday, the sales of blue crab from Aug. 18 to Sept. 17 skyrocketed 1,103 percent on-year, according to the data compiled by Gmarket, a major online shopping mall here. It declined to provide details on the actual sales amount. Customers shop at the fresh foods section of a gian
IndustrySept. 25, 2017