Most Popular
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Yoon's approval rating plunges to all-time low
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S. Korea votes in favor of Palestinian bid for UN membership
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
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[From the Scene] Monks, Buddhists hail return of remains of Buddhas
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Medical schools granted enrollment quota flexibility for next year
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Yoon offers first one-on-one meeting with opposition leader next week
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France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
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Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
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Chinese man behind drug scam targeting teens nabbed in Cambodia
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[Advertorial] KDB supports ethnic Koreans from post-Soviet states
The state-run Korea Development Bank offered financial support to a town in Gwangju that is home to Korean descendants who moved back here from post-Soviet states, according to officials.KDB Chairman and Chief Executive Officer Lee Dong-geol on Tuesday delivered the 20 million won ($17,700) fund to a representative of the town’s residents, Shin Jo-ya, a 61-year-old ethnic Korean from Uzbekistan and descendant of an independence fighter during Japan’s colonial rule.The money will be used for the
IndustryAug. 23, 2017
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Netmarble's 'Lineage 2: Revolution' lands in Japan
Netmarble Games, South Korea's top mobile game developer, on Wednesday rolled out its mega-hit title, "Lineage 2: Revolution," in Japan.The mobile role-playing game immediately became the most popular free app both in the Google Play Store and Apple's App Store.The game -- which has gained huge popularity after its release in 11 Asian countries earlier this year -- already received more than 1 million pre-registrations in Japan. (Yonhap)"It is very unusual for a mobile game to receive more than
TechnologyAug. 23, 2017
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Hanjin chief postpones police questioning due to health
Hanjin Group Chairman Cho Yang-ho (Hanjin Group)Hanjin Group Chairman Cho Yang-ho, and his wife have postponed their appearances for questioning before police due to health issues, police said Wednesday.“The chairman formally requested postponing questioning because he is unable to take a long flight from the US, where he is receiving treatment,” said a spokesperson for Hanjin. “It is unclear when the police will call him again for questioning.”Cho and his wife Lee Myeong-hee are facing allegati
IndustryAug. 23, 2017
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SK hynix may be far from acquiring Toshiba
At the news of the ongoing meeting between the top management of Japan’s Toshiba and US-based memory maker Western Digital in Tokyo, industry observers are raising the possibility that South Korea’s SK hynix may be far from acquiring Toshiba’s chipmaking unit, according to news reports Wednesday. According to a report by Japan’s Nikkei, the meeting of the chiefs of the two longtime business partners – Toshiba CEO Satoshi Tsunakawa and Western Digital CEO Stephen Milligan – could bring a major ch
TechnologyAug. 23, 2017
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Asiana Airlines strengthens specialized freight
A cargo plane of Asiana Airlines (Asiana Airlines)Asiana Airlines said Wednesday that it would be focusing on strengthening its specialized freight services as a future driver of growth. In the first half of 2017, Asiana saw 598.5 billion won ($529 million) in revenue from freight services, up over 100 billion won from last year. “The rise was mainly due to a rise in freight demand in the IT sector,” said an official with Asiana Airlines. “We do not currently have plans to add freight aircraft,
IndustryAug. 23, 2017
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LG to build $25m EV component plant in Michigan
LG Electronics is accelerating expansion of its vehicle component business with the decision to construct a plant for electric vehicle components in the United States, the company announced Wednesday. Eyeing the rapidly growing US EV market at around 65 percent annual rates by 2020, LG inked about $25 million investment contract with the state of Michigan, which will turn a 215,000-square-meter area in Hazel Park into an electric vehicle plant complex by the first quarter of 2018. “The latest co
TechnologyAug. 23, 2017
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Hyundai Motor to launch pickup truck to boost US sales
Hyundai Motor‘s Santa Cruz crossover truck concept vehicle unveiled at the 2015 Detroit motor show. (Hyundai Motor Group)Hyundai Motor, South Korea’s No.1 automotive company, will tap into the pickup truck market in the US with the aim of boosting its sluggish sales there, the company said Wednesday.Michael J. O‘Brien, vice president of corporate and product planning at Hyundai Motor America, said the company’s top management in Seoul had approved plans to go ahead with pickup truck development,
MobilityAug. 23, 2017
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Trump committed to big changes to FTA: USTR
The Office of the United States Trade Representative announced Wednesday that the Trump administration remains committed to amending terms of the Korea-US Free Trade Agreement, following a joint committee session with Seoul and Washington on Tuesday where the two parties were unable to reach a consensus. “Ambassador Lighthizer remains focused on improving implementation of KORUS and amending or modifying the agreement to benefit American workers, farmers, ranchers and businesses,”
EconomyAug. 23, 2017
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[Monitor] Number of households to decline from 2043
South Korea’s population will hit a peak in 2031, predictions by Statistics Korea showed.The number of households, meanwhile, will continue to rise until 2043 due to a rise in single-person households before starting to decline in 2043.
EconomyAug. 23, 2017
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Seoul stocks end higher on foreign buying
South Korean stocks ended higher Wednesday as foreigners increased their stock purchases that offset sell-offs by institutions. The won traded higher against the dollar. The benchmark Korea Composite Stock Price Index rose 1.07 points, or 0.05 percent, to close at 2,366.40. Trade volume was moderate at 225.09 million shares worth 3.918 trillion won ($3.3 billion), with losers outnumbering winners 479 to 306.Foreigners and individuals bought a combined 183 billion won ($162 million) worth of stoc
MarketAug. 23, 2017
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Korean mobile games still shut out of China
Five months after the souring of South Korea-China relations over Seoul’s deployment of a US missile defense system, China continues to deny approval to South Korean game companies seeking to publish their mobile games in China. In March this year, China reportedly stopped issuing new service licenses to Korea-made games as part of economic retaliation against Seoul’s preparations to install the Terminal High Altitude Area Defense system, which China has been vehemently opposing.Months have pass
TechnologyAug. 23, 2017
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Naver founder cuts stock holdings to 4.31%
The billionaire founder of Naver Corp., Lee Hae-jin, has cut his stock holdings in South Korea's dominant Internet portal operator by selling 110,000 shares, a regulatory filing showed Wednesday. Lee sold his 0.33 percent stake in a block deal worth 81.8 billion won ($72.3 million), or 743,990 won per share, on Tuesday, according to the filing.Lee's stock holding in Naver was lowered to 4.31 percent from 4.64 percent. It remains unclear why Lee sold the stock, but the transaction came as Naver i
MarketAug. 23, 2017
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Shipyards rebound but uncertainties continue
Stocks of South Korean shipyards, led by Hyundai Heavy Industries Co., rebounded Wednesday, ending their declines for the past few days, but uncertainties still lie ahead over whether they will be able to secure new orders, industry sources said Wednesday.Hyundai Heavy traded at 152,500 won ($135) on the Seoul bourse as of 2:15 p.m., up 1.67 percent from the previous session's close but the gain still marks a sharp drop from its yearly high of 187,500 won reached in mid-June.Samsung Heavy Indust
IndustryAug. 23, 2017
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LG V30 to feature Google Assistant in Korean: report
LG Electronics’ upcoming flagship smartphone V30 is expected to feature the artificial intelligence-powered Google Assistant in Korean, according to local news reports Wednesday. The Korean voice service, which was initially slated to start in the fourth quarter, will be available in time for the release of the V30, set to debut on Aug. 31, the reports said. Google Assistant is a virtual personal assistant, providing diverse services such as answering questions, playing music, making reservation
TechnologyAug. 23, 2017
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Korea stepping up drive to woo foreigners to PyeongChang
South Korea is speeding up its efforts to promote the 2018 PyeongChang Winter Olympics, a move that can help the country achieve this year's target of attracting some 20 million foreign visitors, tourism authorities here said Wednesday.The Korea Tourism Organization has teamed up with the Gangwon Provincial government to conduct global promotional events with the help of its 32 overseas branches, a KTO spokesman said over the phone. The winter sports games are scheduled to be held in the host ci
IndustryAug. 23, 2017
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Korea's childbirths hit six-month low in June
The number of newborn babies in South Korea dropped to a six-month low in June, government data showed Wednesday.About 28,900 babies were born in the month, down 12.2 percent, or 4,000, from 32,900 tallied a year earlier, according to the data from Statistics Korea.It is the second-lowest monthly figure after just 27,200 kids were born in December last year.Childbirths have been on the decline since a 3.4 percent on-year gain in November 2015, logging a double-digit on-year drop for seven straig
EconomyAug. 23, 2017
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Korea's household debt hit record high in Q2
South Korea's household debt hit a record high in the second quarter, central bank data showed Wednesday, despite tighter lending rules meant to curb rapidly growing household debt.The country's overall debt incurred by households came to 1,388.3 trillion won ($1.22 trillion) as of end-June, up 10.4 percent from a year earlier, according to data compiled by the Bank of Korea.Household debt rose 2.1 percent in the second quarter from the previous three month period, it said. South Korea's househo
EconomyAug. 23, 2017
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Seoul shares shed earlier gains in late morning trading
The South Korean bourse shed some earlier gains late Wednesday morning as institutions sold off stocks. The won rose against the dollar. The benchmark Korea Composite Stock Price Index was up 2.71 points, or 0.11 percent, to 2,368.04 as of 11:20 a.m.Institutions sold a net 74 billion won ($65 million), outweighing net buying worth 72 billion won by foreigners and individuals. Analysts didn't expect any strong rally in the KOSPI index as investors await cues from the US Federal Reserve's ann
MarketAug. 23, 2017
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Stock funds log net inflows for 2nd month
South Korea's stock funds have chalked up net inflows for the second straight month, data showed Wednesday, as the local stock market is undergoing a period of correction.After touching a record high in late July, the Korea Composite Stock Price Index has been on the skids on foreign investors' massive profit-taking before regaining some ground in recent sessions. KOSPI closed up 0.44 percent at 2,365.33 on Tuesday.According to the data by fund researcher Zeroin, domestic stock funds, excluding
MarketAug. 23, 2017
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Samsung bolsters education program in Myanmar for children
Samsung Electronics Co. said Wednesday it introduced three buses equipped with IT facilities in Myanmar to provide underprivileged children with educational programs.The South Korean tech giant first introduced "Samsung Mobile Education Bus" in Myanmar in 2015. The company said the new buses are equipped with a class room as well as kitchen facilities. (Yonhap)Samsung said the program aims to visit children in Myanmar who have limited access to educational opportunities.Using the buses, Samsung
IndustryAug. 23, 2017