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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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul Metro to seek legal action against malicious complaints
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Illit, mired in controversy, remains on Billboard charts for 5th week
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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LG Electronics, No.1 reliable washing machine maker: Consumer Reports
South Korea’s LG Electronics was crowned the most reliable washing machine in the top-loader and front-loader category, US-based Consumer Reports said Friday.In the top-loader category, LG Electronics ranked as the No. 1 most reliable washing machine maker, followed by US-based home and commercial appliance brand Maytag and US manufacturer GE Appliances. South Korean tech giant Samsung Electronics came in at sixth place, the report showed. A front-loading washing machine made by LG Electronics (
IndustryMay 5, 2017
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[Newsmaker] Korea’s fourth communications satellite launched
Korea launched its fourth broadcasting and communications satellite, Korea Sat-7, Friday, according to Korean satellite operator KT SAT. KT SAT, owned by Korea Telecom, said it launched its new satellite Korea Sat-7, also called Mugunghwa-7, at 7:27 a.m. at the Guiana Space Center at Kourou in French Guiana. The company now operates four satellites, including the Korea Sat-5, Korea Sat-6 and Chollian. “The ICT Ministry has already completed the registration with the International Telecommunicati
IndustryMay 5, 2017
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Hyundai’s Grandeur HG most popular used car
Hyundai Motor’s luxury lineup Grandeur HG sedan has been selected as the most popular used car, industry data showed Friday.According to data compiled by used car dealer SK Encar, Hyundai’s Grandeur HG ranked No. 1 in terms of the accumulated number of people who viewed the model on the used car dealer’s website between Jan. 1 and April 24 this year. A total of 443,790 people viewed the Grandeur HG in the cited period, which equates to 3,900 people per day on average. Hyundai Motor’s luxury li
MobilityMay 5, 2017
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Price gap of Apple, Samsung phones widens to over $400
The price gap between Apple and Samsung Electronics’ smartphones has widened to over $400 for the first time, according to a US research firm. The latest report released by Strategy Analytics showed Friday the gap of the average selling price between the two tech giants’ long-term evolution phones widened to a record-breaking $465 in the fourth quarter of last year. Samsung Electronics’ Galaxy S8, which was launched in the second quarter this year, was not included in the research. In the Octobe
IndustryMay 5, 2017
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Air ticket prices mark 5-year high
On the back of a recent oil price recovery and anticipation for national holidays, the prices of international air tickets in March hit a five-year high, Statistics Korea’s data showed Friday. Starting in September last year, international tickets’ prices bounced back to rise by around 1 percent each month. In March, prices hiked by 4.5 percent year-on-year, the biggest leap since May 2012. (Yonhap)Ticket prices for domestic flights also went up by 7.3 percent in March, recording the biggest jum
IndustryMay 5, 2017
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17 children own shares worth over W1b
Seventeen children in South Korea were estimated to own shares of listed firms valued at over 1 billion won ($880,000) as of the end of 2016, data by the Korea Exchange showed Friday.Of the total aged below 13, seven were from the family of pharmaceutical holding firm Hanmi Science, topping the list by each holding 37.4 billion won in stocks, as of Dec. 28, 2016. The seven, aged between 9 and 11, held 612,673 shares each, receiving them through bonus issues or as gifts. They are the grandchildre
MarketMay 5, 2017
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Lotte facing huge loss in China over THAAD retaliation
Lotte Group is facing huge losses as its outlets in China have remained closed for about two months over Beijing's apparent retaliation against the deployment of an advanced U.S. missile defense system in South Korea, according to group officials Friday. Chinese authorities ordered Lotte to close its stores following inspections in late February or early March after Lotte agreed to offer a site for the US Terminal High Altitude Area Defense missile system in a land swap deal with the Defense Min
IndustryMay 5, 2017
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Korea, Japan, China vow to resist protectionism
Chief financial policymakers of South Korea, Japan and China have vowed to fight against "all forms of protectionism" amid growing concerns of US President Donald Trump's protectionist policies. Finance ministers and central bank governors of the three nations made the pledge Thursday after their meeting on the sidelines of an annual gathering of the Asian Development Bank, according to their joint statement. The Northeast Asian powers agreed that "trade is one of the most importa
EconomyMay 5, 2017
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Hyundai, Kia China sales plummet last month amid THAAD row
Hyundai and Kia Motors, South Korea’s top two automakers, saw their combined sales in China plunge by 65.1 percent on-year in April amid the row over the deployment of a US anti-missile system here, industry data showed Thursday. The two auto companies sold a combined total of 51,059 units in China last month, down 65.1 percent on-year, the second consecutive sales decline there, Hyundai Motor confirmed.Hyundai Motor and Kia Motors headquarters in Southern Seoul. (Yonhap)Sales of Hyundai Motor d
MobilityMay 4, 2017
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[Monitor] Job opportunities for natural science majors plunge
The percentage of young men with natural science diplomas employed in the second half of last year dropped to 69.6 percent at a relatively rapid pace compare to those who studied liberal arts and social sciences, Statistics Korea said Thursday.Job seekers majoring in natural science had greater job opportunities just two or three years ago, with their employment rate hovering around 77 percent, slightly higher than the average among all majors.Last year’s rate marked the lowest since 2013, when
IndustryMay 4, 2017
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Saudi oil price cut favorable to Korean oil refiners
Saudi Arabia’s recent price cut for oil exports to Asia is likely to be favorable to South Korean oil refiners, industry insiders said Thursday.Saudi Aramco, the state-owned oil giant, recently lowered official prices for the crude it plans to sell to Asia for June by $0.40 per barrel, while it raised prices for other regions. The move was interpreted as trying to defend sales in the Asian market amid the ongoing price competition among oil producers, according to news reports. Korea, Japan and
IndustryMay 4, 2017
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Kospi hits record-high, offsets strong dollar
South Korea’s first-tier stock market hit a fresh record high Thursday, offsetting a strong US dollar on the back of eased global uncertainties and strong foreign buying. The benchmark Korea Composite Stock Price Index closed at 2,241.24 points, up 21.57 points, or 0.97 percent, compared to the previous trading day Tuesday, when it closed at 2,219.67. Kospi’s previous record high was 2,231.47, set on April 27, 2011. The market did not open Wednesday as it was a public holiday. Forei
MarketMay 4, 2017
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Govt. OKs Mirae Asset Life's acquisition of PCA Life
South Korea's financial authorities said Thursday they have approved Mirae Asset Life Insurance Co.'s acquisition of PCA Life Insurance Co., the local unit of Britain's largest insurer Prudential Plc.(Yonhap)The Financial Services Commission said it had approved the deal worth 170 billion won ($150 million) on Tuesday.The takeover will make Mirae Asset Life Insurance the fifth-largest life insurer with assets of 33.41 trillion won in the domestic insurance market. (Yonhap)
IndustryMay 4, 2017
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[Herald Interview] ‘Central oversight essential to move Saemangeum forward’
Creating land about two-thirds the size of Seoul is not an easy job. Saemangeum Project, a mega project designed to turn a sea area into 283 square kilometers of reclaimed land, is the biggest land development in Korea so far. But to successfully complete the project, it must have a central authority to oversee it, in light of the overlapping authorities of related ministries and municipalities, said the head of the development agency.“It’s a structural problem,” Saemangeum Development and Inves
IndustryMay 4, 2017
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Hyundai Mobis faces dim Q2 outlook: report
A dim second-quarter outlook for Hyundai Mobis, South Korea’s biggest auto parts maker, has cast a cloud over the company due to a lack of sales momentum for Hyundai Motor and Kia Motors to boost their performance, industry experts said Thursday. Analysts, including Esther Yim at Samsung Securities, lowered Hyundai Mobis’ expected second-quarter performance. (Hyundai Mobis)Yim projected that the auto parts supplier would post sales of 8.9 trillion won ($7.9 billion) from April to June, down 8.
MobilityMay 4, 2017
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LG expands premium appliances in emerging nations
LG Electronics is expanding its lucrative premium appliances in emerging nations. The Korean tech giant’s home appliance unit’s record-breaking operating profits in the first quarter were mainly driven by strong sales of its premium appliances in North America. Sales generated in the market last year accounted for around 30 percent of the company’s total sales. Shipment of the firm’s organic light-emitting diode TVs also doubled in the US market during the period. LG Electronics’ premium brand
IndustryMay 4, 2017
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Korea preparing for every possibility, including renegotiation of Korea-US FTA
South Korea's trade minister said Thursday that the government is preparing for every possible scenario, including the renegotiation of a free trade deal with the United States."Seoul is studying every aspect of the pact and getting ready to deal with each case, including the renegotiation of the South Korea-US free trade agreement," Trade Minister Joo Hyung-hwan said in a meeting with experts and researchers from state-run think tanks and private institutions. "We will keep close
EconomyMay 4, 2017
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Korea, China, Japan finance ministers to hold talks in Yokohama
Finance ministers and central bank governors of South Korea, China and Japan will hold talks to coordinate policies and strengthen cooperation in the emergence of trade protectionism, Seoul's finance ministry said Thursday.The trilateral meeting will be held Friday in the Japanese city of Yokohama, with South Korea's Finance Minister Yoo Il-ho to be the chairperson, according to the Ministry of Strategy and Finance. Bank of Korea Gov. Lee Ju-yeol will also attend the gathering.The policymakers f
EconomyMay 4, 2017
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Sales of Celltrion’s Remsima affect Q1 earnings of Pfizer, MSD
The first-quarter earnings of Pfizer and US-based Merck & Co. appear to have been affected by sales of Celltrion’s Remsima, a biosimilar copy of Johnson & Johnson’s Remicade. Pfizer, which markets and sells Celltrion’s Remicade biosimilar in the US and other global markets, said in its earnings report for the January-March period Wednesday that worldwide sales of its biosimilars in the quarter came to $105 million. Of this amount, global sales of Remsima reached $78 million. Remsima is Celltrion
IndustryMay 4, 2017
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Naver launches new fine dust tracking service
Wary of growing concerns over worsening air quality, South Korea’s internet giant Naver on Thursday introduced a new visual mapping service that tracks the movement of fine dust in Korea, Japan and China. The new fine dust mapping service can be accessed by searching for fine dust levels on Naver via either PC or mobile device.(Naver)Previously, Naver had provided only numerical figures that showed the level of fine dust in different cities in Korea. The new feature visually displays the changes
TechnologyMay 4, 2017