Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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KT launches new mobile plans for foreign residents
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Moon meets with IMF chief, stresses importance of income-led growth
President Moon Jae-in said Monday he aims to realize "income-led" economic growth that spreads its benefits across all sectors.Moon made the remark as he outlined his economic policy during a meeting with International Monetary Fund Managing Director Christine Lagarde, saying the policy is in line with the IMF's call for a balance between domestic demand and exports, according to spokesman Park Soo-hyun."President Moon Jae-in explained that the South Korean government has made a h
EconomySept. 11, 2017
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Foreign luxury brands hike prices amid arrival of wedding season: sources
Foreign luxury brands raised the prices of their products early this month, industry sources said Monday, amid the arrival of the fall wedding season that fuels demand.French luxury brand Chanel said it began lifting the prices of it products by up to 17 percent as of Sept. 1.Prices of Classic 2.55 Medium and Mademoiselle Vintage bags have been jacked up to 6.94 million won ($6,133) from 6.77 million won and to 3.86 million won from 3.80 million won each.The price of Chanel Moccasin shoes also i
IndustrySept. 11, 2017
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Samsung strengthens foundry with 11-nm, 7-nm
Samsung is moving to strengthen its foundry business by adding a new 11-nanometer FinFET process technology and developing the industry’s first 7-nm process tech, the company announced Monday. By adding the 11-nm FinFET process, Samsung now has wider range of options for their next-generation products in terms of cost effectiveness. Also known as the 11 Lower Power Plus (11LPP) process, the cutting-edge tech delivers up to 15 percent higher performance and 10 percent chip area reduction with the
TechnologySept. 11, 2017
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Korea spending on families among lowest in OECD states: data
South Korea was one of the smallest investors in families among member states of the Organization for Economic Cooperation and Development in 2013, a report showed Monday.The country allocated 1.13 percent of its gross domestic product to family benefits spending, and therefore ranks 32nd among 35 OECD member states surveyed, according to the OECD report.The family benefits cited by the report consist of public money allocated to enhance family units, including financial support that is exclusiv
EconomySept. 11, 2017
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IMF chief says Korean economy likely to grow 3% this year
International Monetary Fund chief Christine Lagarde expressed optimism Monday about the future of the South Korean economy as she forecast Asia's fourth-largest economy to grow 3 percent this year.The assessment is in line with South Korea's growth outlook for 2017. In July, South Korea raised its target growth to 3 percent from 2.6 percent, citing export-led growth.She said the South Korean economy could also expand 3 percent growth in 2018."I believe the Korean economy is extremely resili
EconomySept. 11, 2017
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FTC rejects Hyundai Mobis' commitment decision request
South Korea's antitrust watchdog said Monday that it has decided to reject a commitment agreement request by Hyundai Mobis Co., the country's largest auto parts maker, which is suspected of abusing its market power.The company has been under investigation by the Fair Trade Commission for forcing its dealerships to meet an unreasonable sales target between January 2010 and November 2013, according to the watchdog. (Yonhap)In a commitment request filed in June, Hyundai Mobis said it will compensat
IndustrySept. 11, 2017
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Venture minister nominee vows deregulation for startups
The nominee for the head of the Ministry of SMEs and Startups vowed Monday to cut back regulations on the tech industry to encourage companies to spearhead innovative technology and establish clusters for startups.Park Seong-jin made the pledge as he pitched his plans to lead the new ministry, which was created in July, to help small and medium-sized enterprises and startup companies."I will make every effort to revitalize innovative businesses and create a healthy environment for SMEs and ventu
IndustrySept. 11, 2017
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LG to show auto-parts tech at motor show in Germany
South Korean firm LG Electronics Inc. said Monday that it would showcase its advanced auto-parts related technology at a motor show to be held in Germany this week.LG Electronics said it would show key auto parts to global automakers during the 2017 Frankfurt Motor Show to be held from Sept. 14 to 17.Since its first participation in the 2014 Beijing Motor Show, LG Electronics has been rolling out crucial auto parts at international motor shows.LG Electronics plans to showcase its AV navigation s
MobilitySept. 11, 2017
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Seoul stocks up late Monday morning on eased geopolitical risks
South Korean stocks traded higher late Monday morning, recouping last week's losses sparked by concerns over North Korea's nuclear provocations.The benchmark Korea Composite Stock Price Index gained 20.21 points, or 0.86 percent, to 2,363.93 as of 11:20 a.m.Tech shares continued to trade higher, with top cap Samsung Electronics advancing 2.12 percent. Chipmaker SK hynix climbed 1.1 percent, and flat panel maker LG Display moved up 1.42 percent.Auto shares were in negative train, with leading car
MarketSept. 11, 2017
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New FSS chief vows to enhance financial consumer protection
The new chief of the Financial Supervisory Service said Monday he will set up an advisory body to enhance protection for consumers of financial products.Choe Heung-sik, former president of Hana Financial Group, was appointed governor of the FSS last week, replacing Zhin Woong-seob.In his inauguration speech, Choe said about half the members of the advisory body will come from civic organizations, universities and media organizations. Choe said he will encourage the FSS to pursue "consu
MarketSept. 11, 2017
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Korea advised to limit smoking at public places, cigarette ads: WTO
The World Health Organization has recommended South Korea to adopt more stringent regulations to ban cigarette smoking in public places and restrict tobacco advertising and promotions.The WTO has been issuing the outcome of the MPOWER project assessing the implementation of monitoring, protecting, offering help, warning, enforcing bans and raising taxes every other year to support an anti-tobacco campaign around the world.South Korea was not properly implementing policies on protecting, enforcin
EconomySept. 11, 2017
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Tour promotion event held in Bangkok
South Korea's tourism promotion agency said Monday that it has held a two-day event in Thailand over the weekend to attract more Thai tourists and promote Korean goods.During the 2017 Love Korea Weekend organized by the Korea Tourism Organization, a slew of South Korean firms set up booths to promote their goods as well. Visitors look around booths during a Korean tour fair that took place in Bangkok on Sept. 9, 2017, in this photo provided by the Korea Tourism Organization. (Yonhap)According to
IndustrySept. 11, 2017
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Korea's exports fall 8.7% in first 10 days of Sept.
South Korea's exports fell 8.7 percent in the first 10 days of this month from a year earlier due to decreased business days, the latest customs data showed Monday.Total outbound shipments reached $12.3 billion from Sept. 1-10, down from $13.5 billion tallied over the same period last year, according to numbers compiled by the Korea Customs Service.The drop came as there were seven business days during the 10-day period, compared with the previous year's eight. Exports of semiconductors con
EconomySept. 11, 2017
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LG OLED TV wins positive responses in US, Europe
LG Electronics Inc.'s high-end organic light-emitting diode TV products have won positive responses from American and European consumer magazines, industry sources said Monday.The LG OLEDB7V model, a 65-inch OLED UHD TV, made by the South Korean home appliance giant has topped evaluations conducted by leading consumer magazines from nine European countries, including Italy-based Altroconsumo, Germany-based Stiftung Warentest, France-based Que Choisir and Spain-based OCU, they said. (Yonhap)The U
TechnologySept. 11, 2017
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Seoul stocks open higher on tech gains
South Korean stocks opened higher Monday as institutional buyers scooped up large-cap tech shares, analysts said.The benchmark Korea Composite Stock Price Index rose 17.05 points, or 0.73 percent, to 2,360.77 in the first 15 minutes of trading.Wall Street stocks finished lower Friday (local time), with the S&P 500 shedding 0.2 percent and the tech-rich Nasdaq Composite Index tumbling 0.6 percent.Most large caps on the Seoul bourse opened higher, with tech shares leading the gain. Market bell
MarketSept. 11, 2017
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Stock market volatility to grow ahead of 'quadruple witching'
South Korea's stock market volatility is expected to grow early this week ahead of the so-called quadruple witching day that comes on top of escalating geopolitical tensions here, analysts said Monday.The third quadruple witching day of the year, which falls on Thursday, may prompt local brokerage houses and foreign investors to rush to take profits through computer-based program trading, making the market more volatile, they said."Quadruple witching" refers to the simultaneous expirat
MarketSept. 11, 2017
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Top 10 groups take up bulk of listed firms' H1 operating income
Units of South Korea's top 10 family-controlled conglomerates contributed nearly 60 percent to the first-half operating income of all listed companies, data showed Monday, pointing to their huge presence here.The combined operating income of 91 listed companies belonging to the leading business groups soared 72.1 percent on-year to 39.3 trillion won ($34.7 billion) in the January-June period, with the number for the remaining 1,813 firms rising a mere 1.3 percent to 26.8 trillion won.The top 10
IndustrySept. 11, 2017
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Foreigners own over half of electric, electronics stocks
Foreign investors hold more than half of electric and electronics shares listed on South Korea's main stock market, data showed Monday.Foreign ownership of those stocks traded on the Korea Composite Stock Price Index market came to 51.2 percent of their total market capitalization as of Wednesday, the highest among all industrial sectors, according to the data from the Korea Exchange.The communication sector came next with 44.8 percent, followed by the steel and metal industry with 37 percent. I
MarketSept. 11, 2017
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Korea wage increase rate halved after financial crisis: report
South Korea's wage increase rate has been halved after the 2008 global financial crisis that rocked the country, a market report showed Sunday.The findings released in the Bank of Korea's latest foreign economic focus report showed that average wage gains dropped to 3.4 percent in the 2014-2016 period from 7.3 percent tallied in 2001-2007.It cited a drop in overall labor productivity and general aging of the population as causing the decrease. Data showed that in the wake of the financial crisis
EconomySept. 10, 2017
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Hyundai, Kia to promote subcompact SUVs in Frankfurt
Hyundai Motor Co. and its sister company Kia Motors Corp., South Korea's two biggest carmakers, said Sunday they will promote its subcompact crossovers in the 2017 Frankfurt Motor Show amid growing demand for SUVs in the global market.In the motor show, to be held in the German city from Sept. 14-24, Hyundai Motor and Kia Motors said they plan to lure European customers with the Kona and the Stonic subcompact SUVs, respectively. Hyundai unveiled the Kona to foreign media as well in a June event
MobilitySept. 10, 2017