Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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What's next for the government's push in quota hike?
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Robert J. Fouser] Social attitudes toward language proficiency
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[Graphic News] How much do Korean adults read?
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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BOK chief warns of drop in potential growth rate due to aging population
South Korea's potential growth rate for the foreseeable future could significantly decline because of a shrinking workforce caused by a rapidly aging population, the Bank of Korea chief warned Friday.At a forum with business executives on the southern resort island of Jeju, BOK Gov. Lee Ju-yeol called for deregulations and a search for new growth engines to mitigate the impact of the aging population. The BOK expects South Korea's potential growth rate to stay at 2.8 or 2.9 percent between
EconomyJuly 28, 2017
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Moon to hold second round of 'beer talks' with business leaders
President Moon Jae-in is set to hold the second round of "candid beer" talks with top business leaders Friday, his office Cheong Wa Dae said, as he seeks to elicit their support for his economic agenda and listen to their difficulties.The meeting will come a day after Moon met with top executives from seven business groups -- Hyundai Motor, LG, POSCO, Hanwha, Shinsegae, Doosan and CJ, along with the head of Ottogi, a leading but comparatively small food company. Friday's dinner gatheri
EconomyJuly 28, 2017
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Lobby for smaller businesses opposes minimum wage hike
A business lobby representing small-sized businesses on Friday filed a complaint against the government's decision on next year's minimum wage hike. Earlier this month, a tripartite commission of the government, labor and management reached an agreement to increase the minimum hourly wage to 7,530 won ($6.68) in 2018, up 16.4 percent from the current 6,470 won. While the decision was hailed by the labor circle and part-time workers, small business owners immediately expressed concerns, saying it
EconomyJuly 28, 2017
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Samsung Electronics beats Intel, takes world's largest chipmaker title in Q2
Samsung Electronics Co. emerged as the world's No. 1 chipmaker in terms of sales and operating profits in the second quarter, beating behemoth Intel Corp. market data showed Friday.The rise of Samsung is significant as Intel has been standing as the leading computer chip producer for some 24 years.Industry watchers said the rise is the result of the South Korean tech giant's successful developed next-generation technologies for dynamic random-access memory chips and NAND flash memory and quickly
IndustryJuly 28, 2017
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KT reports modest growth in Q2
South Korea's No. 2 mobile carrier KT Corp. said Friday its second-quarter operating profit rose nearly 5 percent from a year ago, helped by improved revenue in its media business. (Yonhap)Operating profit came to 447.3 billion won (US$400.6 million) for the April-June period, compared with a profit of 426.9 billion won for the same quarter last year, the company said in a regulatory filing. This represents a 4.8 percent on-year gain. Second-quarter net income inched up 1.1 percent on-year to 25
IndustryJuly 28, 2017
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LG Electronics wins 7 awards in US consumer evaluation study
LG Electronics Inc. said Friday it won seven awards in a US consumer evaluation study on home appliances, highlighting its position as one of the most popular brands in the North American market. (Yonhap)According to the findings released by industry-tracker J.D. Power, LG Electronics won top titles for its front-load and top-load washers, clothes dryers, dishwashers, freestanding ranges, French door refrigerators and top-mount freezer refrigerators."LG has clearly delivered on all these measure
IndustryJuly 28, 2017
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Industrial output backtracks 0.2% in June
South Korea's industrial output dropped slightly in June from a month earlier due to the dip in petroleum refinery and chip businesses, but consumption made a turnaround to offset the sluggish production, government data showed Friday. (Yonhap)Production in the mining, manufacturing, gas and electricity industries edged down 0.2 percent on-month in June, backtracking from a 0.2 percent on-month gain in the previous month, according to the data by Statistics Korea.From a year earlier, output also
IndustryJuly 28, 2017
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Korea's business confidence steady at low levels in July
Business sentiments among South Korean manufacturers remained flat at low levels in July, a survey by the Bank of Korea showed Friday, with the auto industry's confidence plunging over sluggish exports. The monthly business survey index, an indicator of the manufacturers' outlook for the coming month, was 78 in July, flat from a month earlier, according to the BOK survey. The index fell for a second straight month in June after rising to 83 in April. A reading above 100 means that more com
EconomyJuly 28, 2017
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SsangYong Motor’s G4 Rexton diversifies SUV market
SsangYong Motor, the local unit of India’s Mahindra & Mahindra, has added diversity to South Korea’s sport utility vehicle market with its latest premium full-size G4 Rexton SUV, the company said Thursday. The G4 Rexton replaced the Mohave SUV made by Kia Motors as the best-selling large-size SUV here for two straight months since its release in May. The model recorded sales of 2,703 units in May and 2,708 units in June, according to the company. SsangYong Motor’s premium large-size SUV, the G4
MobilityJuly 27, 2017
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SK Innovation’s Q2 earnings fall 58%
SK Innovation, South Korea’s biggest oil refiner in terms of market share, saw its second-quarter earnings drop by more than half on-quarter, largely due to the slump in international oil prices, according to a regulatory filing Thursday. SK Innovation’s sales in the second quarter reached 10.5 trillion won ($9.4 billion), up 2.7 percent, but its operating profit dropped to 421 billion won, down by 62.4 percent on-year from 1.1 trillion won. (Yonhap)Compared with the previous quarter, the compa
IndustryJuly 27, 2017
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Kogas completes safety checks for LNG facilities
The Korea Gas Corporation said Thursday that the company conducted safety inspections at its two local liquefied natural gas facilities from July 11-12. The safety checks were conducted as a part of the government’s summer electricity supply plan, it added. A Kogas gas supply facility in Busan (Kogas)With Kogas Senior Executive Vice President Kim Young-do in charge, the nation’s largest gas buyer checked the storage and supply equipment at its facilities.“With thorough safety inspections, Kogas
CompaniesJuly 27, 2017
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Korea to sell W6.7tr won in state bond in Aug.
South Korean plans to sell a combined 6.7 trillion won ($6 billion) in state bonds next month, the finance ministry said Thursday. The government will issue 1.45 trillion won in bonds with a maturity of three years, and 1.65 trillion won in five-year bonds in August.It also plans to sell 1.5 trillion won in 10-year Treasurys and a combined 2.1 trillion won of bonds with a maturity of between 20 and 30 years. (Yonhap)
EconomyJuly 27, 2017
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Samsung Securities' long-term model portfolio boasts stability
Samsung Securities’ model portfolio, which guides global investment distribution of the equity firm‘s funds, has boasted stability, the firm said Thursday. The core-A type of Samsung Securities’ model portfolio saw a cumulative return of 19.68 percent over the last three years as of the end of June. Of the last 12 quarters, the model portfolio saw a positive rate of return in nine quarters, it explained.The longer the asset was managed, the higher the return was, accordin
MarketJuly 27, 2017
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Kakao Bank goes online, users suffer lag
Kakao Bank officially began operations Thursday at 7 a.m., becoming the second online-only bank to be launched in South Korea, but it was quickly met with complaints due to the server failure of the bank’s mobile app. Within eight hours of the launch, some 230,000 users had downloaded the mobile app, through which some 103,000 new bank accounts were created, according to the bank. It also drew 26 billion won ($23.3 million) in deposits and savings accounts, while extending loans worth 14 b
MarketJuly 27, 2017
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[Monitor] Korea’s growth slows on weak exports
South Korea’s economic growth slackened in the second quarter of this year from a year ago due to slower exports, mainly in shipments of transportation equipment, petrochemicals and chemical products, data from the Bank of Korea showed Thursday.Exports declined 3 percent from the previous quarter and 0.1 percent from the previous year.But demand for semiconductors remained strong.Meanwhile, consumer sentiment improved under the Moon Jae-in government, with more spending on durable goods, s
EconomyJuly 27, 2017
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Samsung Heavy swings to black in Q2 on cost-saving measures
Samsung Heavy Industries Co., a major shipyard here, said Thursday that it swung to the black in the second quarter of the year from a year earlier on cost-saving measures.Net profit reached 23 billion won ($21 million) in the April-June period, compared with a loss of 212 billion won a year earlier, the company said in a regulatory filing.Operating income reached 21 billion won in the second quarter, also turning around from an operating loss of 284 billion won a year earlier.Its sales dropped
IndustryJuly 27, 2017
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Seoul stocks edge up on US gains after Fed announcement
South Korean stocks finished higher Thursday, taking a cue from overnight gains on Wall Street as the Federal Reserve left interest rates unchanged, analysts said. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 8.73 points, or 0.36 percent, to close at 2,443.24. Trading volume was moderate at 420 million shares worth 5.3 trillion won ($4.7 billion), with gainers outpacing losers 430 to 356.The local stock market opened higher on US gains and
MarketJuly 27, 2017
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Ministry, ruling party agree to focus tax revision on jobs
The Moon Jae-in government and the ruling liberal Democratic Party of Korea on Thursday agreed that the incoming tax law revision should focus on creating jobs and supporting small businesses.But the two sides failed to settle on how to raise extra tax from the rich. While the party viewed the hike as a crucial step to reform the nation’s economic inequality, the government remained reluctant to impose a direct burden on local businesses. The Democratic Party and the Finance Ministry
EconomyJuly 27, 2017
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Samsung expected to continue record-breaking profit in Q3
Samsung Electronics, which posted record-high revenue, operating profit and net profit in the second quarter, is expected to post another top profit number in the next quarter on a continued chip boom and its new OLED panel supply for Apple’s new iPhones. The South Korean electronics giant said Thursday it posted 61 trillion won ($54 billion) in sales and 14 trillion won in operating profit between April and June, rising 19 percent and 72 percent, respectively, from the previous year. Samsung sa
IndustryJuly 27, 2017
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Miracles in pairs
Twins share more than their mother’s womb. They share tears, laughter, failures, achievements, envy and even at times prejudice.Korea is among countries seeing an increasing number of twins, triplets and more, as more women are having children at a later age, which often leads to higher chances of conceiving multiple babies, such as through artificial insemination. Some couples even work on conceiving multiple babies at one time for the sake of efficiency or due to time constraints. Tomorrow’s w
IndustryJuly 27, 2017