Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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On May Day, labor unions blast Yoon's foreign nanny proposal
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul alerts overseas missions to NK terror threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Women scientists to meet in Seoul
The International Conference of Women Scientists and Engineers will open in Seoul this week with some 550 participants discussing the theme "shaping the future," organizers said Tuesday. (Yonhap)The BIEN 2017 conference will be held for three days starting Thursday. The name of the meeting takes its initials from bio, IT, environment/energy/earth and nano technologies, which are the areas dealt with by female scientists at the event, in addition to space and convergence technologies. The confere
TechnologyAug. 29, 2017
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BOK chief criticizes presidential aide for comments over key rate
The head of South Korea's central bank on Monday lashed out at recent comments by a presidential aide that the low key rate is problematic. Officials "should be careful in making comments that could affect the financial markets," Bank of Korea Gov. Lee Ju-yeol said in a parliamentary session. It marked the second time this month that Lee has made a thinly veiled criticism against the presidential economic aide, who said in a recent interview with a newspaper that the low key rate is to
MarketAug. 28, 2017
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Samsung joins 20th Century Fox, Panasonic for HDR tech alliance
Samsung Electronics Co. said Monday it agreed to join US 20th Century Fox and Japan-based Panasonic Corp. to expand the ecosystem for the High Dynamic Range 10 Plus technology.The South Korean tech giant said the companies agreed to establish an alliance for the HDR 10 Plus technology.The agreement is aimed at inducing more TV producers and movie productions to join the ecosystem for the new technology, Samsung said. (YonhapThe HDR technology allows screens to deliver vivid displays by optimizin
TechnologyAug. 28, 2017
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Samsung to invest $7b in China chip business
Samsung Electronics will invest a total of $7 billion in its semiconductor business in China for the next three years, the company said in a regulatory filing Monday.The latest investment announcement in the China business is the biggest in five years since the Korean chipmaker established the plant in Xian in 2012. Samsung’s Xian facilities produce 3-D NAND flash memory chips whose demand is rapidly rising as mobile device manufacturers want chips with greater data storage space and faster proc
TechnologyAug. 28, 2017
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[Monitor] Mobile display market overtakes TV displays
The global market for mobile phone displays is expected to overtake that of TVs screens for the first time this year due to changes in consumer demand, data by IHS Markit showed.Mobile panels market grew by an average 17 percent annually in the past seven years. Sales of TV screens declined about 8 percent per year during that same period.The rise in mobile phone displays is directly linked to the emergence of smartphones and the advances being made in ultra-high definition panels that have appe
TechnologyAug. 28, 2017
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Foreign investors may take Korea’s mobile fee cut to ISD settlement
Foreign investors are making increasing inquiries about possible losses to their investment in South Korean telecom companies, three days before the carriers are to decide on whether to file a lawsuit against the government’s fee cut plan, industry sources said Monday. “Our investor relations team has received some inquiries about what would happen to the company’s profitability from several foreign shareholders,” said an official from one of the three mobile carriers here, who asked for anonymi
TechnologyAug. 28, 2017
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OB targets young consumers with canned cocktails
Oriental Brewery is targeting young consumers who enjoy drinking at home with canned cocktails called MixxTail Ice, according to the company Monday.MixxTail Ice, which comes in two flavors, is the second product in the MixxTail line launched in May last year in bottled form. MixxTail Ice (OB)With an alcohol content of just 3 percent and convenient packaging, MixxTail Ice is an easy way to enjoy high-quality cocktails, according to the company. The canned cocktails have a lower alcohol content th
IndustryAug. 28, 2017
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[Advertorial] Hyundai Card launches advanced chatbot service
Hyundai Card, the credit card issuer affiliated with Hyundai Motor Group, has launched an artificial intelligence-based chatbot service to respond to customer inquiries, as part of its vision to evolve beyond finance into a digital company, according to officials.Buddy, the virtual agent available through Hyundai Card’s mobile application or website, offers users a real-time conversation with two personas -- Fiona and Henry. The service kicked off earlier this month as a beta version and i
MarketAug. 28, 2017
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Global M&A market to remain active in H2
After years of overcoming a series of economic challenges, global investors led by private equity funds are now ready to step back into the merger and acquisition market, especially in new technology sectors, data showed.According to a survey conducted by Ernst & Young Han Young, the Korean office of the London-based accounting firm, the number of global M&A deals signed in January-June this year stood at 18,363, up 4 percent from the same period last year.Topping the market in amount wa
MarketAug. 28, 2017
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World Veterinary Congress opens to discuss health of humans, animals, environment
Thousands of veterinarians gathered Monday in Incheon, west of Seoul, to discuss ways to enhance the health of humans, animals and the environment around the world.In a speech opening the 33rd World Veterinary Congress earlier in the day, South Korean Prime Minister Lee Nak-yon said, "The congress will become an opportunity for mankind to strengthen measures to cope with livestock diseases that are affecting human health."Also attending the opening ceremony of the four-day congress were Agricult
TechnologyAug. 28, 2017
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Korea issues transaction alert for entities blacklisted by US
South Korea on Monday issued a special warning on transactions with 20 Chinese, North Korean and other foreign entities and individuals that were put on the United States' sanctions list for helping finance the North's development of nuclear weapons.The companies and individuals under the latest transaction alert are those that were blacklisted by the US' past two sanctions lists adopted June 29 and Aug. 22 in connection with North Korea's development of weapons of mass destruction.They include
IndustryAug. 28, 2017
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Hanmi Pharmaceutical shares soar on improved drug R&D outlook
Hanmi Pharmaceutical shares soared 7.29 percent from the previous trading day to a close of 397,500 won on Monday, fueled by an improved development outlook for the firm’s drugs that were out-licensed to global companies.Janssen, Johnson & Johnson’s drug development subsidiary, recently obtained the US Food and Drug Administration’s approval to carry out a new set of phase 1 clinical trials for Hanmi-developed drug candidate JNJ-64565111.Janssen had suddenly suspended the trials of Hanmi’s drug
IndustryAug. 28, 2017
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Govt. recoups W709.1b of public funds in Q2
The South Korean government said Monday it recovered 709.1 billion won ($633 million) of bailout funds in the second quarter, mostly used to help financial institutions hit by the 1997 Asian financial crisis. The retrieval of taxpayers' money mainly derived from dividends from stake investments, the sale of shares in Woori Bank, and interest income, the Financial Services Commission said in a statement. The government has spent a total of 168.7 trillion won since November 1997 to purchase non-pe
EconomyAug. 28, 2017
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Seoul stocks snap 4-day rise on won's gain, Samsung affiliates
South Korean stocks finished lower on Monday, as foreign investors cashed in recent gains due to the local currency's strength against the US dollar and a decline in Samsung affiliates, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index shed 8.21 points, or 0.35 percent, to close at 2,370.30.Trade volume was light at 224 million shares worth 3.94 trillion won ($3.53 billion), with gainers outnumbering losers 438 to 361.The local stock market
MarketAug. 28, 2017
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Apartment management fees jump 24% over five years
Amid soaring apartment prices, data showed Monday that management fees for apartment residents in South Korea have risen roughly 24 percent over the past five years. According to data from the Bank of Korea and Statistics Korea, the housing price index for apartment living increased to 108.68 in the second quarter, a 24.3 percent increase from 87.4 in 2012. The jump is about quadruple the 6.3 percent consumer price index inflation rate. By the end of July, housing management fees rose 3.8 perc
EconomyAug. 28, 2017
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BOK to issue commemorative paper money for PyeongChang Olympics
The central bank said Monday it will issue 2,000 won ($1.77) denominated paper notes to commemorate South Korea's hosting of its first Winter Olympics.The Bank of Korea will issue 2.3 million notes of the bill on Nov. 17, according to officials. While big events have often been celebrated with commemorative coins, this is the first time that paper money will be issued. Officials said the PyeongChang Olympics organizing committee had requested paper bills. PyeongChang, a mountainous resort city e
EconomyAug. 28, 2017
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State commission visits nuclear reactor site
ULSAN -- A state commission to decide the fate of the construction of two nuclear power reactors made a visit to the work site in southern South Korea on Monday.The visit, the first of its kind since the commission was formed nearly one month ago, is aimed at helping experts come up with a recommendation on whether the construction of the Shin-Kori 5 and 6 reactors in Ulsan city should continue or be halted. (Yonhap)Members of the commission are scheduled to hold meetings with residents to hear
IndustryAug. 28, 2017
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Samsung heir appeals, tech giant claims ‘unprecedented crisis’
Samsung Electronics Vice Chairman Lee Jae-yong on Monday appealed the verdict that sentenced him to five years in jail over bribery charges, with the tech giant contending the absence of the heir has brought “an unprecedented crisis.”The Seoul Central District Court said legal representatives of Lee had submitted a petition to appeal, claiming that the ruling on Friday had a juridical error and misunderstanding of facts. Samsung Electronics Vice Chairman Lee Jae-yong (Yonhap)The 49-year-old heir
IndustryAug. 28, 2017
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Korea business lobbies under fire for staying silent
South Korea's two major business lobby groups have come under criticism for not playing their roles in major corporate and labor issues, market sources said Monday. The Federation of Korean Industries and the Korea Employers Federation haven't made their official stance toward the government's recent appointment of a former labor activist as chief of the Economic and Social Development Commission and an imminent court ruling on the matter of calculating regularly paid bonuses as part of standard
IndustryAug. 28, 2017
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Korean shipping sector still reeling from Hanjin fall
South Korea's shipping industry is still reeling from the fallout from Hanjin Shipping Co.'s bankruptcy last year as the remaining companies have yet to fill the vacuum left by Hanjin, once the nation's top player, analysts said Monday.Hanjin Shipping, previously the world's seventh-largest shipper, was put under court receivership in September last year as its creditors rejected a self-rescue plan and refused to save the failing business before it was declared bankrupt in early February.Hanjin
IndustryAug. 28, 2017