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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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Household savings rate to log minus growth in a decade: report
The savings rate of South Korean households is expected to lapse into negative territory in a decade due the country's rapid population aging, a central bank report said Wednesday.The Bank of Korea report estimated the household savings rate to start to register negative growth starting in 2026 in step with the country's fast population aging.The figure is forecast to fall from 8.9 percent in 2015 to -3.6 percent in 2030, when the ratio of people aged 65 and older to total population is likely t
EconomyAug. 2, 2017
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Subcompact SUV sales jump 55% in July vs month earlier
South Korea's five carmakers saw their combined sales of subcompact sport-utility vehicles jump 55 percent in July from a month earlier on growing consumer demand.The five automakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. -- sold a combined 11,627 vehicles last month, up sharply from 7,505 units tallied for June, according to sales figures provided by the companies. (Yonhap)The sharp gain appears mainly attributed to the release
MobilityAug. 2, 2017
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Small merchants thinking of layoffs to offset minimum wage hike, survey says
More than 90 percent of small merchants plan to lay off workers because of the expected minimum wage increase next year that is disapproved by nearly all of them, a survey showed Wednesday.In the survey carried out by the Korea Federation of Micro Enterprise from July 21-28, 92.4 percent of 532 merchants polled said they would need to cut back on the number of their employees, with 68.1 percent saying they definitely would have to resort to layoffs.The government and union representatives agreed
IndustryAug. 2, 2017
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Seoul shares open higher on tech shares
South Korean stocks opened higher on Wednesday, largely helped by bullish tech caps.The benchmark Korea Composite Stock Price Index gained 4.34 points, or 0.18 percent, to reach 2,427.30 in the first 15 minutes of trading. Performance of large-cap stocks were mixed, with tech shares pushing the bourse up.Market behemoth Samsung Electronics added 0.9 percent and global chipmaker SK hynix jumped 2.9 percent.The local currency was trading at 1,122.1 won against the US dollar, down 0.8 won fro
MarketAug. 2, 2017
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Samsung, SK hynix to make record-high investments in 2017
Samsung Electronics Co. and SK hynix Inc. are anticipated to make record investments to expand and upgrade their facilities this year, industry sources said Wednesday, amid the global boom in mobile and computer chips.The two South Korean tech giants plan to allocated a whopping 30 trillion won ($26.7 billion) to secure sustainable growth following their robust performances, sources said.Samsung Electronics has injected some 12.5 trillion won in facility investment over the first half of the yea
IndustryAug. 2, 2017
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SK hynix most profitable among listed firms in Q2
Chip giant SK hynix Inc. posted the highest operating margin among large-gap companies in the second quarter of the year on its strong semiconductor business, data showed Wednesday.The consolidated operating margin of SK hynix, the crown jewel of South Korea's No. 3 conglomerate SK Group, came to 45.6 percent during the April-June period, the largest among the top 30 listed companies by market capitalization, according to the data by the Financial Supervisory Service. (Yonhap)KT&G Corp., South K
IndustryAug. 2, 2017
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Irregular workers account for one out of 10 employees at conglomerates
One out of every 10 workers at South Korea's top 30 business groups were irregular workers as of end-March this year, with the rate highest at construction firms, research data showed Wednesday.According to an analysis by corporate tracker CEO Score of 360 companies who have over 300 full-time workers, the business groups checked had 119,577 non-regular workers, or 9.6 percent of the total 1.24 million. The latest figure marks a 4.2-percent drop from last year.The top three conglomerates with th
IndustryAug. 2, 2017
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Individuals lose money in stock market in July
Despite a bullish stock market, retail investors lost big in their equity investments in July, data showed Wednesday, due to insufficient strategy and information.The top 20 stocks purchased by individuals tumbled 6.11 percent on average last month, according to the data compiled by market tracker FnGuide.In contrast, their 20 most sold stocks generated an average return of 8.07 percent, far higher than the 1.02 percent on-month gain in the benchmark Korea Composite Stock Price Index.Driven by s
MarketAug. 2, 2017
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Banks' loan delinquency rate falls to record low in June
The delinquency rate of South Korean banks' won-denominated loans fell to a record low in June as banks significantly resolved distressed loans, government data showed Wednesday.The rate for bank loans more than 30 days overdue stood at 0.43 percent at the end of June, down 0.15 percentage point from a month earlier, according to the data by the Financial Supervisory Service. Compared to a year ago, the rate was down 0.28 percentage point, it said. The end-June reading was the lowest rate since
EconomyAug. 2, 2017
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SK Innovation reorganizes offices to boost battery, chem biz
SK Innovation, the owner of South Korea’s biggest oil refiner, has reorganized its offices to push forward the company’s new portfolio of battery and chemical businesses, it said Tuesday.The company has put the battery unit and its R&D lab under the direct supervision of its CEO Kim Jun, as well as material and component development for rechargeable batteries.The newly launched battery unit will lead the company’s overall marketing strategies and expand its R&D capacities on battery development.
IndustryAug. 1, 2017
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LS Cable wins W219b deal in Qatar
LS Cable & System, a Korean cable manufacturer, has signed a 219 billion won ($195.6 million) contract with the Qatari government to supply high voltage cables to the Middle Eastern country.The deal is the largest won by a South Korean cable company in the Middle East, making LS the No. 1 cable supplier to the region, said the firm. (LS Cable)The company will handle 70 percent of the country’s demand for cables ranging from 132 kilovolts to 400 kilovolts.The deal came as the Qatari government i
IndustryAug. 1, 2017
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UK biggest foreign stock trader in Kospi
Investors from the United Kingdom traded the largest volume of stocks in terms of value on South Korean markets, beating out investors from other countries in May and June, data from the Financial Supervisory Service showed Tuesday.In June, UK buyers engaged in trading stocks worth 25.8 trillion won ($23.1 billion), accounting for 33.1 percent of the entire offshore stock trading on the first-tier market. UK investors bought Kospi shares worth 12.93 trillion won and sold 12.89 trillion won.The U
MarketAug. 1, 2017
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Kakao Games debuts mobile RPG ‘Onmyoji’ in Korea
“Onmyoji,” the hit 3-D mobile role-playing game that swept the Chinese and Japanese markets last year, has officially arrived in South Korea via Kakao’s game publishing unit Kakao Games.Kakao Games on Tuesday launched “Onmyoji for Kakao,” the localized version of the hit Chinese mobile RPG, via the Google Play store and Apple App Store in Korea.Developed by Chinese game developer NetEase, “Onmyoji” is a turn-based mobile RPG that has racked up more than 2 million downloads worldwide. It is the m
TechnologyAug. 1, 2017
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[Monitor] Korea’s exports keep upward trend
South Korea continued to see brisk exports last month, backed by a rise in oil prices, recovering global trade and a rise in shipments of semiconductors, data from the Ministry of Trade, Industry and Energy and Korea International Trade Association showed Tuesday.Exports climbed 19.5 percent on-year in July, continuing its rise for nine consecutive months and posting double-digit growth for seven straight months. Outbound shipments reached $48.85 billion, up from $40.88 billion a year ago. Trade
EconomyAug. 1, 2017
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Samsung appeals to Southeast Asian consumers
Samsung Electronics’ home appliance business remains upbeat in Southeast Asia, with the recent expansion of its supply of system air conditioners to local companies there, the company said Tuesday. The South Korean electronics maker said it received additional orders for its 360 Bladeless Cassette, a circular-shaped air conditioning system for commercial areas, including a zoo in Singapore and 18 branches of The Coffee Bean & Tea Leaf in Manila. A 360 Bladeless Cassette air conditioning system
TechnologyAug. 1, 2017
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Seoul stocks end higher on improved investor sentiment
South Korean stocks closed higher Tuesday on the back of improved investor sentiment despite growing geopolitical tensions caused by North Korea's intercontinental ballistic missile launch, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index advanced 20.25 points, or 0.84 percent, to close at 2,422.96. Trade volume was slim at 259 million shares worth 5.5 trillion won ($5.1 billion), with gainers far outnumbering losers 608 to 204.Analysts sai
MarketAug. 1, 2017
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Kia's July sales drop 5.6% amid China woes
Kia Motors Corp. said Tuesday its vehicle sales have fallen 5.6 percent last month from a year earlier largely hit by lower demand in China. The country's second-biggest carmaker by sales sold a total of 216,118 vehicles in July, down from 229,044 units a year earlier, the company said in a statement. Sharp sales declines in China continued to affect monthly results, the company said in a statement, citing political tensions between Seoul and Beijing over the deployment of the Terminal High Alti
MobilityAug. 1, 2017
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Hyundai's July sales fall 1.8% amid China woes
Hyundai Motor Co. said Tuesday its sales fell 1.8 percent last month from a year earlier, hit by weakening overseas demand, particularly in the Chinese market. The country's biggest carmaker by sales sold a total of 333,180 vehicles in July, down from 339,417 units a year earlier, the company said in a statement. Declining demand from China continued to affect the company's monthly sales results amid a diplomatic row between Seoul and Beijing over the deployment of the Terminal High Altitude Are
MobilityAug. 1, 2017
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Tesla Model 3 to land in Korea by end-2018
Tesla's first mass market Model 3 sedans. (Tesla)Tesla, the US-based electric car maker, delivered the first 30 units of its mass market Model 3 sedans last week, with deliveries to Korean motorists expected to begin around the end of next year, the company said Tuesday.The time frame for deliveries to Korean drivers is based on Tesla’s schedule to start deliveries of Model 3 sedans that place the steering wheel on the left side in the second half of 2018 for Korea and other markets, an official
MobilityAug. 1, 2017
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Kakao Mobility officially launches as new company
Kakao Mobility officially took off as an independent subsidiary of Kakao on Tuesday, bringing together the South Korean mobile messaging giant’s key transportation services under one company. The new subsidiary is set to oversee the expansion and monetization of Kakao’s key mobility services including the taxi-hailing app Kakao Taxi, chauffeur app Kakao Driver and mobile navigation app Kakao Navi. Kakao Mobility CEO Jung Joo-hwan (Kakao)It also plans to partner with Korea’s parking space operato
TechnologyAug. 1, 2017