Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[Music in drama] Rekindle a love that slipped through your fingers
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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 Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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LG's new smartphone to boast premium audio features
LG Electronics Inc. said Monday its flagship smartphone, the V30, will be equipped with premium audio-related features in addition to high-end camera functions.Through previous teasers, LG Electronics has been emphasizing camera-related features, hinting the 6-inch LG V30 will come with minimized bezels and a top-notch dual-lens camera with an F1.6 aperture.On Monday, the South Korean tech giant added the LG V30 will be equipped with the Hi-Fi Digital to Analog Converter for improved audio. LG E
TechnologyAug. 28, 2017
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Stocks open flat on lack of market momentum
South Korean stocks opened almost flat on Monday, as investors attempted to cash in recent gains amid lack of market momentum.The benchmark Korea Composite Stock Price Index rose 0.70 point, or 0.03 percent, to 2,379.21 in the first 15 minutes of trading.Market kingpin Samsung Electronics was 0.21 percent up, while SK hynix, a major chipmaker, sank 1.61 percent. Hyundai Motor, the No. 1 automaker, moved down 0.35 percent, while AmorePacific, the country's top cosmetics maker, shed 0.34 percent.N
MarketAug. 28, 2017
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Conglomerate-run charity foundations own sizable shares in related companies
Many charity foundations operated by conglomerates own sizable shares in related companies, data from a corporate tracker showed Monday, an arrangement that the antitrust agency vowed to scrutinize for possible abuse by owner families.According to Chaebul.com, 40 various foundations run by the country's top 20 business groups own 6.7 trillion won ($5.94 billion) worth of shares of affiliates under the same parent conglomerate.At Samsung Group, South Korea's largest family-run business empire, th
MarketAug. 28, 2017
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Nonbank lenders' corporate loans soar 17% in H1
Corporate lending extended by South Korea's nonbank financial institutions surged nearly 17 percent in the first half of the year amid tougher rules for household loans, central bank data showed Monday. Outstanding corporate loans by local secondary financial institutions, including credit cooperatives and savings banks, came to 113.4 trillion won ($101 billion) as of the end of June, up 16.9 percent, or 16.4 trillion won, from end-2016, according to the data by the Bank of Korea.The first-half
MarketAug. 28, 2017
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Foreign ownership of top 10 group shares sinks 4.6% over past month
Foreign ownership of listed firms belonging to South Korea's top 10 conglomerates tumbled nearly 4.6 percent over the past month amid a market correction, data showed Monday.Offshore investors held a combined 349.2 trillion won ($310 billion) worth of shares in 95 listed firms of the leading business groups as of Thursday, down 16.7 trillion won, or 4.56 percent, from a month earlier, according to the data from market tracker FnGuide.The South Korean stock market has been going through a correct
MarketAug. 28, 2017
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IFA organizer bolsters security over terrorism woes
The organizer of the Internationale Funkausstellung in Berlin plans to expand security measures amid rising concerns over terrorism, industry sources said Monday.The move comes as around 240,000 visitors are expected to visit the venue of the global tech fair, which kicks off for a six-day run on Sept. 1. South Korea's tech giants, including Samsung Electronics Co. and LG Electronics Inc., will participate in the annual event.Sources said while there have been no signs of possible attacks at the
TechnologyAug. 28, 2017
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Hyundai E&C continues CSR efforts around the globe
Hyundai Engineering & Construction has been continuing its corporate social activities in Southeast Asian countries, such as by building education facilities and providing supplies for underprivileged children, the company said Sunday. Students take a picture in front of a school that Hyundai E&C built at a local town in Thanlyin Township, Myanmar, July 23.Last month, Hyundai E&C completed the construction of an elementary school at a small town in Thanlyin Township, Myanmar’s southern port cit
IndustryAug. 27, 2017
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[Advertorial] Citibank offers zero-commission, real-time global transfers
Citibank Korea has been expanding its overseas remittance market by offering its customers zero transfer fees and immediate global currency transfer services, in an effort to meet increasing demand for the country’s rising number of foreign students and residents abroad, according to officials. Transfers can be made in 17 currencies to 18 countries utilizing the global network of Citibank. While international remittances through most banks typically require one to three days to deliver, C
MarketAug. 27, 2017
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Korea’s economic recovery remains vulnerable to N. Korea, THAAD
Despite the global economy seeing positive growth this year, Korea’s economic bounce back appears to be marred by continuous political disruptions with the North Korean regime’s nuclear threats, as well as China’s war against the deployment of THAAD, data showed. According to data recently released by the Bank of Korea, escalating economic hurdles caused by North Korea’s missile threats and China’s blackballing of Korean goods and products amid continued disputes r
MarketAug. 27, 2017
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[Ask a Laywer] Dismissal of executives
Ask a Lawyer is a regular column written by attorneys at Yoon & Yang LLC on various legal aspects of the Korean life or business. The content provided here is general legal information, not legal advice on a specific situation. -- Ed. (Yonhap)Q. Do officers, or executives, of a company fall under the definition of “workers” under the Labor Standards Act? What are the exact procedures for dismissal of officers and the instructions for companies to bear in mind when they dismiss an officer? A. A.
IndustryAug. 27, 2017
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Foreigners may intervene in Samsung management after court ruling
Foreign stakeholders may expand their intervention in management decisions at Samsung Electronics Co. after a Seoul court found its vice chairman de facto leader guilty of bribery, market watchers warned Sunday.Foreign investors who collectively hold more than 50 percent stake in the world's largest smartphone manufacturer may demand the company's board of directors be replaced as Vice Chairman Lee Jae-yong on Friday was sentenced to five years in prison for bribery, embezzlement and other charg
MarketAug. 27, 2017
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BMW new 5 Series equipped with latest partial driverless features
German automotive company BMW on Sunday said its new seventh-generation 5 Series launched in Korea last February is the fruit of the carmaker’s cutting-edge partial self-driving technology. BMW Korea sold a total of 8,063 units of the new seventh-generation 5 Series between February and July this year, the company said. A partial self-driving system panel is located on the left of the steering wheel of the new seventh-generation 5 Series (BMW Korea)The 5 Series is BMW’s best-seller, with over 7.
MobilityAug. 27, 2017
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[Behind the Wheel] Range Rover Velar, SUV built for dynamic urban driving
Yeongjongdo, INCHEON -- Amid a worldwide sport utility vehicle boom, Jaguar Land Rover Korea, the local importer and distributor of Jaguar and Land Rover vehicles, is slated to add a fourth Range Rover SUV, dubbed Velar, to its lineup next month to offer one of its best on-road SUVs, the company said Sunday. The Range Rover Velar on roads in Yongjong Island, Incheon (Jaguar Land Rover Korea)The launch comes as Korean motorists’ demand for midsize SUVs has been on the rise.Germany luxury BMW, for
MobilityAug. 27, 2017
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Lotte Department Store brands integrated to 'Eliden'
The five private brands operated by Lotte Department Store will be rebranded under the umbrella brand Eliden, according to the retailer Sunday. An image of the new Eliden Home store to open in Lotte Department Store Jamsil Thursday. (Lotte Department Store)Since 2005, Lotte has been operating five private brands targeting various consumer sectors including young womenswear, contemporary womenswear, accessories, menswear and home design.Eliden, the first private brand launched by Lotte, will keep
IndustryAug. 27, 2017
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Women seek toxin-free sanitary pad alternatives
Women are seeking out toxin-free alternatives to disposable sanitary pads and tampons, as the government continues to struggle in providing clear answers about potential health risks associated with compounds found in existing products.The Ministry of Food and Drug Safety said Sunday that it had started conducting a study as of Friday on “all sanitary pads produced or imported in the past three years,” focusing on determining levels of volatile organic compounds.“Volatile organic compounds” is a
IndustryAug. 27, 2017
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GS Chairman urges 'agility' in changing business climate
The chief of GS Group on Friday urged the group‘s top executives to pursue "agility" in managing their teams in a rapidly changing business climate during a two-day meeting, officials said Sunday. GS Group Chairman Huh Chang-soo (GS)“GS must be able to pull forth its employees’ creativity and talent using stable and efficient processes,” GS Group Chairman Huh Chang-soo said at the 13th annual GS CEO Strategy Meeting held at the Elysian Gangchon in Gangwon Province on Friday.“Our organization mus
IndustryAug. 27, 2017
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[Kosdaq Star] Amotech rides high on electric auto part biz
This is the 40th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- EdAmotech’s unhindered rally over the past two weeks seemed to mark a successful consequence of the partmaker’s decadelong efforts to expand into the electric car part business. The company’s stocks listed on the second-tier Kosdaq market closed at 33,750 won ($29.96) on Friday, up 26.9 percent from two weeks prior and up 53.8 percent from the end of last year. The Frid
MarketAug. 27, 2017
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Fierce dispute expected at Samsung heir’s appeal
A fierce legal dispute is expected to extend this week following the Seoul Central District Court’s decision to sentence Samsung Electronics’ de facto leader Lee Jae-yong to a five-year prison term. During the weekend following the court ruling Friday that found the Samsung heir guilty of five major charges related to the corruption scandal of former President Park Geun-hye, Lee‘s legal team and the special counsel team respectively clenched their fists in preparation for the forthcoming appella
IndustryAug. 27, 2017
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[Monitor] Seoul‘s housing price lower than Beijing, Tokyo, Singapore
Seoul’s price to income ratio for housing this year was ranked 23rd among 267 major cities in the world, according to Numbeo, a global database of user contributed data on cities and countries. This was visibly lower than the figure in the Great China Region such as Shenzhen, Beijing, Shanghai, and Hong Kong.The PIR value for South Korea’s capital was 19.17, which means that it would take an average citizen the corresponding number of years save up to purchase a house.The most expens
EconomyAug. 27, 2017
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NK risk, jittery economic indicators to nudge BOK to freeze rates
Concerns over North Korean provocations and jittery economic indicators is expected nudge South Korea's central bank to freeze key rates for the foreseeable future, market watchers said Sunday.The predictions come as the Bank of Korea is set to convene a Monetary Policy Committee this week to deliberate the country's key rates.Initially, there was speculation that some members of the committee will express views of marking up rates in the future to reflect improvements in the overall economy fue
EconomyAug. 27, 2017