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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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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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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KT launches new mobile plans for foreign residents
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Mercedes-Benz unveils new S-Class models in Korea
Mercedes-Benz Korea released the New S-Class sedans in Seoul on Monday, starting with diesel-powered models.For two months, the German luxury carmaker‘s local sales unit will be selling eight models, including the Mercedes-AMG S 63 4Matic and Mercedes-Maybach, the company said. S-Class Coupe and S-Class Cabriolet models will be introduced next year, it added. The New Mercedes-Benz S-Class (left) and New Mercedes-Maybach S-Class (right) (Mercedes-Benz Korea)“Different engines will come not all t
MobilitySept. 5, 2017
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SME leaders call for govt. support ahead of high costs, low productivity
South Korea's small and medium-sized enterprise leaders called on the government Tuesday to provide more support in the face of an increased minimum wage and reduced working hours that will impact their businesses.In a meeting with Labor Minister Kim Young-joo, Park Sung-taek, chairman of the Korea Federation of Small and Medium Business, said its member companies will cooperate with the government's efforts to raise the minimum wage and reduce working hours, but stressed Seoul has to provide fi
IndustrySept. 5, 2017
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Samsung SDI technician to join international off-road motor race
A technician at South Korean battery maker Samsung SDI will join an international motorcycle race slated for early summer next year. Kim Sun-ho, assistant manager at a battery production line, is one of the three players in Team South Korea and one of 60 competitors from 20 countries who will take part in the International GS Trophy 2018 in Mongolia sponsored by BMW Motorrad. The nine-day challenge involves a 2,000-kilometer off-road motorcycle race for seven days, Samsung SDI battery technicia
TechnologySept. 5, 2017
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Stocks reel from nuke test impact
South Korea’s stock markets on Tuesday remained under the influence of North Korea’s sixth nuclear test Sunday.The main bourse index Kospi shed 0.13 percent and closed at 2,326.62, while the secondary market index Kosdaq took a 0.33 percent loss.Both markets opened higher Tuesday, but swung back to negative territory with foreign sell-offs emerging from late morning trade. The Kospi opened 0.37 percent higher, while the Kosdaq was up 0.69 percent at 9 a.m. The Kospi suffered fo
MarketSept. 5, 2017
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[News Focus] Why smartwatches failed to hit mainstream
It been three years since Apple CEO Tim Cook said “the Apple Watch is most personal device we’ve ever created,” and smartwatches have evolved to become smarter, sleeker and more stylish. They now sport fitness trackers, waterproof and payment services, with some of them being hybrids with luxury fashion brands including Emporio Armani, Fossil and Michael Kors. Despite the advances with fanfare, smartwatches have yet to grab the mainstream for now. The global smartwatch market saw a whopping 350
IndustrySept. 5, 2017
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[Monitor] Korea‘s longest submarine tunnel being constructed
Boryeong and Taean will be connected with the country’s longest submarine tunnel as well as a bridge, together spanning some 14.1 kilometers, in South Chungcheong Province.The construction plan is part of a tourism project pushed by the region that would include new large-scale resorts envisioned by Daemyung Group and Lotte Group. The construction is currently 38 percent and 67 percent complete for the tunnel and the bridge respectively.When completed, the tunnel will be the longest in South Kor
IndustrySept. 5, 2017
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Seoul shares close slightly lower on geopolitical concerns
South Korean stocks closed 0.13 percent lower Tuesday on concerns over North Korea's nuclear provocations, but the decline slowed compared to previous sessions as investors engaged in bargain hunting, analysts said. The Korean won sharply fell against the US dollar.The benchmark Korea Composite Stock Price Index dropped 3.03 points, or 0.13 percent, to 2,326.62. Trade volume was moderate at 317 million shares worth 4.81 trillion won ($4.25 billion), with losers outnumbering gainers at 569 to 239
MarketSept. 5, 2017
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Hyundai turns to Europe to pick up lagging business
Hyundai Motor Group Vice Chairman Chung Eui-sun delivers a presentation at the world premiere of the Kona, Hyundai Motor’s first small SUV, at the company’s studio in Goyang, Gyeonggi Province, in July. (Hyundai Motor Group)Hyundai Motor Group Vice Chairman Chung Eui-sun started a four-day business trip in Europe, seeking to expand the company’s presence there through its to-be-launched fuel cell electric vehicles, compact SUVs and luxury cars, the company said Tuesday.The first destination of C
MobilitySept. 5, 2017
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Kumho Tire creditors reject Doublestar‘s demand of price cut
(Yonhap)A yearlong negotiation between creditors of Kumho Tire and Qingdao Doublestar hit a major snag on Tuesday, as the former group rejected the Chinese company’s demand of cutting down its bid price for a controlling stake in the South Korean tiremaker.If the Chinese firm refuses to renegotiate, the deal is terminated automatically.“We were not able to accept, because Doublestar made an excessive demand,” said an official representing one of the creditors, including the state-run Korea Devel
IndustrySept. 5, 2017
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Samsung SDS launches conversational AI platform for businesses
Samsung SDS, the internet technology solutions arm of South Korea’s Samsung Group, on Tuesday launched its new artificial intelligence platform for enterprises Brity, joining the global race to develop AI-powered solutions to enhance workflow efficiency.Brity is a conversational AI assistant, or a chatbot solution, which understands and processes natural language. It can converse with users in both written and spoken form to respond to different requests as needed. Powered by deep learning algo
TechnologySept. 5, 2017
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Korea-ASEAN FTA support center opens in Jakarta
South Korea has established a support center for businesses operating in Jakarta to serve as a help desk on the bilateral free trade agreement with the Southeast Asian country, the Ministry of Trade, Industry and Energy said Tuesday.The center was set up at the Korea Trade-Investment Promotion Agency office in the capital city of the Association of Southeast Asian Nations member state to mark the 10th anniversary of the open trade deal.South Korea's exports to the 10-member ASEAN nearly doubled
EconomySept. 5, 2017
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Financial regulator urges tighter screenings in high-risk lending
Banks and other financial institutions should tighten screenings of lending applications by high-risk borrowers, the top financial regulator said Tuesday. Choi Jong-ku, chairman of the Financial Services Commission, made the remarks at a forum in Seoul, as financial authorities are scheduled to announce a fresh package of measures this month to curb the growth of household debt. Choi urged banks and other financial institutions to "break away from the practice of unconditionally extending l
MarketSept. 5, 2017
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Tax chiefs of Korea, China discuss ways to bolster cooperation
South Korean and Chinese tax agencies agreed to strengthen two-way cooperation in taxation administration amid the diplomatic row caused by the deployment of US anti-missile system on the Korean Peninsula, the government said Tuesday.South Korea's National Tax Service Commissioner Han Seung-hee held an annual meeting with his Chinese counterpart Wang Jun in Beijing, according to his office.The two tax authorities have held regular talks every year since 1996, four years after the two neighbors n
EconomySept. 5, 2017
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Korea further strengthens housing market regulations
The government announced a fresh set of regulations Tuesday to cool down the overheated housing market, a month after adopting strong measures for Seoul and other cities. On Aug. 2, the Ministry of Land, Infrastructure and Transport designated 25 regions in Seoul and two other cities as "overheated speculative districts" to tighten mortgage rules and restrict transactions of new homes. This action is seen to have curbed price hikes over the past month.Under the follow-up measure, the m
EconomySept. 5, 2017
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Daily credit card spending in Korea hits record high in H1
Daily credit card spending in South Korea hit a record high in the first half of this year, data showed Tuesday, in the latest sign that plastic has become one of the most favored tools for payment.The amount of transactions processed through credit cards came to 1.76 trillion won ($1.5 billion) a day on average in the January-June period, up 8.3 percent from a year earlier, according to the data compiled by the Bank of Korea. Among them, average daily spending of mobile credit cards came t
EconomySept. 5, 2017
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Hyundai unveils localized truck in Moscow
South Korea's leading automaker Hyundai Motors Co. said Tuesday it has unveiled a light truck designed for the local market at a Russian commercial car exhibition.Hyundai will promote the HD36L, a 2.5-liter diesel-powered light truck, at the 2017 Comtrans Commercial Vehicles Auto Show set to run this week in Moscow. The truck is based on the Mighty truck, which is available in South Korea, the company said in a statement. This photo provided by Hyundai Motor shows its HD36L light truck in Mosco
MobilitySept. 5, 2017
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Korean stocks down late Tuesday morning
South Korean stocks traded lower late Tuesday morning as investors took a wait-and-see stance on the geopolitical tension on the Korean Peninsula sparked by Pyonyang's nuke provocations.The benchmark Korea Composite Stock Price Index shed 3.11 points, or 0.13 percent, to 2,326.54 as of 11:20 a.m.Financial shares lost ground, with Shinhan Financial moving down 2.95 percent and Samsung Life Insurance dropping 0.89 percent. KB Financial plunged 4.08 percent. Top carmaker Hyundai Motor lost 0.7
MarketSept. 5, 2017
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Hyundai plant operations in China suspended due to payment problems
A Hyundai Motor Co.'s plant in China was forced to suspend operations Tuesday as a German company refused to supply auto components due to payment problems, the South Korean carmaker said.Hyundai's plant in Cangzhou, Hebei District, was brought to a halt as the supplier has stopped delivering air intake components due to delayed payments, a company spokesman said over the phone."We are in talks with the German partner so work can resume at the No. 4 plant (in China)," he said without elaborating
MobilitySept. 5, 2017
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Refiners set to report strong Q3 earnings
South Korean oil refiners, led by SK Innovation Co., are expected to report stronger-than-expected earnings for the third quarter of the year on the back of good refining margins and solid demand for their key products, industry sources said Tuesday.The benchmark Singapore complex gross refining margin hovered around $8 per barrel last month, up from $7.40 in July, $6 in May and $5.80 in March, according to industry sources. Singapore is the regional trading hub of the benchmark Dubai crude.The
IndustrySept. 5, 2017
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Korea recaptures top spot in global shipbuilding orders in August
South Korean shipyards recaptured the No. 1 position in new orders worldwide in August amid a plunge in overall numbers, industry data showed Tuesday.According to the data compiled by global research firm Clarkson Research Institute, local shipbuilders clinched new orders worth a combined 130,000 compensated gross tons last month to build nine vessels. (Yonhap)Chinese rivals came next with 110,000 CGTs, or seven ships. Japanese shipyards bagged orders worth 40,000 CGTs or two ships.In the first
IndustrySept. 5, 2017