Most Popular
-
1
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
2
Inflation eases in April, continues bumpy ride
-
3
Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
-
4
Seoul to more than double military drones by 2026 to counter NK threats
-
5
Key suspects grilled over alleged abuse of power in Marine death inquiry
-
6
Seoul alerts overseas missions to NK terror threats
-
7
Over 60% of S. Koreans support W100m childbirth incentive: survey
-
8
‘Inside Out 2’ adds four new emotions, explores teenage life
-
9
Questions raised over fair promotion of RM, NewJeans
-
10
[Graphic News] Number of coffee franchises in S. Korea rises 13%
-
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
-
[Photo News] Line Friends marks grand opening of first US store in New York City
FIRST LINE FRIENDS STORE IN US -- Line Friends, the character merchandising unit of Naver-owned mobile messenger Line, marked the grand opening of its first store in the US on Tuesday. Located at Times Square in New York City, the store features rooms that introduce the stories of Line Friends characters. It also sells character goods including those exclusive to New York. More than 300,000 people have visited the store since its preopening on July 21, the firm said. (Line Friends) FIRST LINE FR
IndustryAug. 1, 2017
-
Gasoline cars reclaims 50 percent market share
Gasoline-powered vehicles recovered domestic market share here in the first half of this year, on the back of weaker demand for diesel cars, industry data showed Tuesday. The number of new gasoline vehicles registered in the first half accounted for 50.2 percent, surpassing the 50 percent mark for the first time since 2013, when gasoline-powered vehicles posted 52.7 percent, according to data compiled by the Korea Automobile Manufacturers Association. (Yonhap)In contrast, the market share of die
MobilityAug. 1, 2017
-
Consumer prices up 2.2% in July due to weather: data
South Korea’s consumer prices surged in July at the fastest pace in four months, mainly due to a recent rise in fruit and vegetable prices after a period of alternating droughts and floods, government data showed Tuesday.Faced by record-high inflation in the costs of living necessities, the government pledged to offer discounts of up to 50 percent on selected vegetables and to increase the stock of livestock and marine products, in preparation for national holidays in early October.The nat
EconomyAug. 1, 2017
-
BNP Paribas Cardif Life appoints Benoit Meslet as CEO
BNP Paribas Cardif Life Insurance in Korea announced Tuesday that its board members have appointed Benoit Meslet as the company’s new representative director and CEO, succeeding former head Jean-Christophe Darbes. Officially starting his post Tuesday, Meslet has more than 15 years of experience in the financial services and insurance industries, including an extensive background in product development across Asia. Prior to joining BNP Paribas Cardif, he worked as the chief transformation
MarketAug. 1, 2017
-
S&P assigns 'intermediate risk' rating to Korea's non-life insurers
International ratings agency Standard and Poor's said Tuesday it has assigned an "intermediate risk" rating to South Korea's property and casualty insurance industry, saying that the industry's strength is undermined by security risks from North Korea. In a report on the insurance industry and country risk assessment, S&P said South Korea's non-life insurers "will remain stable over the near to medium term." The assessment was based on South Korea's growing economy,
EconomyAug. 1, 2017
-
Samsung reshuffles Chinese arm amid sluggish business
Samsung Electronics reshuffled its Chinese arm Tuesday with the aim of turning around its sluggish business in the world’s largest smartphone market, but the Korean tech giant denied speculations of job cuts resulting from the reshuffle.“We have reshuffled our Chinese unit today in the hope of reversing declining sales. Seven sales points have been closed and replaced by more segmented 22 bases to be more closely supervised by the Beijing headquarters,” a Samsung Electronics’ official told The K
IndustryAug. 1, 2017
-
Allianz Life renamed ABL Life, revamps digital platforms
Allianz Life has officially been renamed ABL Life Insurance Co., it announced Tuesday. According to the new ABL Life, the revised corporate name represents its strong ties and association with the company’s major shareholder Anbang Insurance Group, and reflects its vision, “With you for a better life.” ABL Life also announced it will revitalize its portfolio of advanced digital products and smart services. The company said it will focus on establishing a digital environment
MarketAug. 1, 2017
-
Nepalese worker in his 20s dies from tick-borne disease
HONGSEONG -- A Nepalese worker died from a tick-borne disease earlier this week in South Korea's first case of the illness contracted by a man in his 20s, the South Chungcheong provincial government said Tuesday.The 24-year-old man, who had been working at a livestock farm in Hongseong, a town in South Korea's central province of South Chungcheong, was diagnosed with severe fever and thrombocytopenia syndrome, or SFTS, and treated for the disease before he died on Sunday. This undated file photo
TechnologyAug. 1, 2017
-
Galaxy S8 series wins environment certificate in US
Samsung Electronics Co. said Tuesday its Galaxy S8 and Galaxy S8 Plus smartphones won a top-level certificate from an environmental evaluation conducted in the United States.The South Korean tech giant said the smartphones won the Gold rating from the Electronic Product Environmental Assessment Tool, approved by the Green Electronics Council and Underwriters Laboratories. (Yonhap)It marks the first time for smartphones to win a EPEAT certificate.The test focuses on various environmental aspects
TechnologyAug. 1, 2017
-
Netmarble's 'Lineage 2: Revolution' hits 1m preorders in Japan
Netmarble Games, South Korea's top mobile game developer, said the number of pre-registrations for its mega-hit title, "Lineage 2: Revolution," in Japan surpassed the 1 million mark Tuesday.Netmarble started accepting the preorders for the mobile role-playing game from the official website for Japanese players on April 28 before its launch during the third quarter of this year, the company said. The exact launch date has yet to be decided."It is very unusual for a mobile game to receive more tha
TechnologyAug. 1, 2017
-
Hanwha to turn 850 temporary workers into permanent employees
Hanwha Group said Tuesday it will turn 850 temporary workers into permanent employees by the first half of next year, a decision that will mostly benefit young workers at its services affiliates.Group officials said each affiliate will begin work evaluations of each temporary worker from next month for a phased transfer to permanent positions. About 660 of these workers are in the services sector of the group, including duty-free shop operator Hanwha Galleria and leisure affiliate Hanwha Hotels
CompaniesAug. 1, 2017
-
Renault Samsung's July sales jump 26% on exports
Renault Samsung Motors Corp., the South Korean unit of French carmaker Renault S.A., said Tuesday its July sales jumped 26 percent from a year earlier on increased exports. Renault Samsung sold a total of 23,295 vehicles in July, up from 18,483 units a year earlier, due to strong demand for its SM6 flagship sedan and the QM3 subcompact SUV, the company said in a statement. Domestic sales rose 7.8 percent on-year to 7,927 cars from 7,352 units a year earlier. Exports climbed 38 percent to 15,368
MobilityAug. 1, 2017
-
SsangYong Motor‘s July sales slump 11% as exports fall
SsangYong Motor Co. said Tuesday its July sales fell 11 percent from a year earlier on lower overseas demand. The South Korean unit of Indian carmaker Mahindra & Mahindra Ltd. sold 11,413 vehicles in July, down from 12,784 units a year earlier, the carmaker said in a statement. (Yonhap)Domestic sales rose 15 percent to 8,658 units last month from 7,546 units a year earlier. But exports plunged 47 percent to 2,755 cars from 5,238, the statement said. In the January-July period, the maker of the
MobilityAug. 1, 2017
-
Builder sentiment drops on weaker orders in July
Business sentiment for South Korea's construction industry fell in July from the previous month due mainly to a decrease in new orders, a poll showed Tuesday.The construction business survey index came to 85.4 last month, down five points from a month earlier and snapping a three-month gaining streak, according to the survey by the Construction and Economy Research Institute of Korea.A reading hovering below 100 indicates that builders pessimistic about the current state of the construction indu
IndustryAug. 1, 2017
-
Celltrion's Truxima has 30% market share in Britain
An affiliate of South Korean biopharmaceutical firm Celltrion Inc. said Tuesday that its biosimilar drug Truxima accounts for 30 percent of the Britain market.Truxima, a reference to Roche's Mabthera, also known as Rituxan, has become a presence in the European country since its launch in April, Celltrion Healthcare said.Celltrion`s headquarters in Songdo, Incheon (Park Hyun-koo/The Korea Herald)In February, the European Medicines Agency accepted Celltrion's application to sell the antibody bios
IndustryAug. 1, 2017
-
GM Korea's July sales fall 9.9% on lower demand
GM Korea Co., the South Korean unit of General Motors Co., said Tuesday its July sales fell 9.9 percent from a year earlier due to weak domestic sales. GM Korea sold a total of 41,406 vehicles in July, down from 45,977 units tallied a year earlier, the company said in a statement. (Yonhap)Exports declined 3.2 percent to 30,605 from 31,617 over the cited period. Domestic sales also plunged 25 percent to 10,801 units from 14,360 during the same period, it said. The sales slump was mainly affecte
MobilityAug. 1, 2017
-
Korea venture investment in H1 nears W1tr
Venture capitalists continued to pour money into South Korean startup companies in the first half of this year on hopes of lucrative returns, government data showed Tuesday. The investment in startups was tallied at 992.6 billion won ($887 million) in the January-June period, up 1.8 percent from a year earlier, according to the data from the Ministry of SMEs and Startups.The ministry said 369.8 billion won, or 37.3 percent of the total, went to companies set up within the last three years, while
IndustryAug. 1, 2017
-
Lotte Duty Free withdraws from Jakarta airport
Lotte Duty Free, South Korea's top duty-free operator, said Tuesday it has pulled out of an airport in the capital city of Indonesia last month, after an unsuccessful bid to extend the contract.Lotte's duty-free store in Jakarta International Airport closed Monday after its contract expired, the company said. Opened in January 2012, it was the firm's first overseas store. The closure comes at a time when local duty-free stores are struggling to cope with the diplomatic row between Seoul and Beij
CompaniesAug. 1, 2017
-
Cabinet OKs temporary removal of import duties on egg products
South Korea's Cabinet on Tuesday approved a measure to remove import tariffs on egg products in the latest effort to resolve a supply shortage sparked by outbreaks of bird flu here, officials said.The move will allow local companies to import 28,000 tons of eggs -- 13,000 tons of shell eggs and 600 tons of hatching eggs and 14,400 tons of other products -- without tariffs up until the end of this year.The government said egg products can be brought in from Australia, New Zealand, Denmark, the Ne
EconomyAug. 1, 2017