Most Popular
-
1
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
2
Golden chance to liquidate babies’ gold rings?
-
3
Inflation eases in April, continues bumpy ride
-
4
Seoul to more than double military drones by 2026 to counter NK threats
-
5
Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
-
6
Seoul alerts overseas missions to NK terror threats
-
7
Over 60% of S. Koreans support W100m childbirth incentive: survey
-
8
Key suspects grilled over alleged abuse of power in Marine death inquiry
-
9
‘Inside Out 2’ adds four new emotions, explores teenage life
-
10
Questions raised over fair promotion of RM, NewJeans
-
Korea advised to sign FTA with Japan to overcome global protectionism
South Korea should move to sign a free trade deal with Japan to more effectively deal with growing protectionist trends in the global economy, local economist said Wednesday.The Trump administration has withdrawn from the 12-nation Trans-Pacific Partnership and blamed the North American Free Trade Agreement and the free trade agreement with South Korea for job losses, triggering concerns over the possibility of Washington withdrawing from the deals or at the very least demanding revisions. (Yonh
March 29, 2017
-
Households log first 'interest deficit' in 2016
South Korean households posted the first deficit in the so-called interest balance in 2016 as their interest payments grew at a much faster pace than interest income, central bank data showed Wednesday.Local households' income from interest on deposits at local banks and other financial institutions reached an estimated 36.1 trillion won ($32.4 billion) last year, up 5.4 percent from the previous year and the smallest amount in 20 years, according to the data by the Bank of Korea. (Yonhap)In con
March 29, 2017
-
Hyundai considers debuting Genesis sedan in China next year
Hyundai Motor Co., a South Korean automaker, said Wednesday it is considering launching its luxury Genesis sedan in China next year to gain a bigger share in the world's largest auto market. "We have recently set up a task force team under our Chinese operations to push forward the launching plan. The team will conduct a local market survey and look into local regulations in advance," a company spokesman said. (Yonhap)Hyundai Motor has launched the premium sedan, which carries an independent nam
MobilityMarch 29, 2017
-
Seoul shares open tad higher on US rally
South Korean stocks opened slightly higher Wednesday, tracking overnight gains on Wall Street that were spurred by positive consumer data, analysts said. The benchmark Korea Composite Stock Price Index rose 5.08 points, or 0.23 percent, to 2,168.39 in the first 15 minutes of trading. US markets rallied after the data showed that its consumer confidence for March surged to an over 16-year high, underlining that its economy remains sound with a narrowing trade deficit and anticipation for a bette
March 29, 2017
-
Four more firms picked for fast-track restructuring program
Four South Korean firms gained government approval to carry out their voluntary corporate restructuring through fast-track legal and administrative procedures, the industry ministry said Wednesday.The Ministry of Trade, Industry and Energy said a government panel chose four companies -- including Taekyung Heavy Industries Co., a midsized ship materials manufacturer -- to endorse their proposed restructuring efforts to boost competitiveness. (Yonhap)Mytec Co., a vessel air cooler manufacturing fi
IndustryMarch 29, 2017
-
Won forecast to stay strong against dollar
The South Korean currency is expected to strengthen further against the US dollar for the time being on the Fed's confirmation of its tight monetary policy and other factors, analysts said Wednesday.With the greenback remaining weak against major Asian monetary units, the local currency is highly likely to rise above 1,100 won per dollar in April, but it will have a limited impact on South Korean exporters and the stock market. (Yonhap)Donald Trump's victory in the US presidential election in No
March 29, 2017
-
Korea's manufacturing sentiment up for April
South Korean manufacturers' business sentiment for next month improved slightly as local companies expect a steady improvement in exports, data by the central bank showed Wednesday.The business survey index of manufacturing firms came to 82 in April, up from 81 in March, according to the Bank of Korea. (Yonhap)A reading over 100 means optimists outnumber pessimists, while a reading below the benchmark means the opposite.An index measuring local firms' sentiments toward exports came to 92 for nex
IndustryMarch 29, 2017
-
Korea biz sentiment improves for April
South Korean businesses are not expecting a sudden improvement in business conditions in the near future, but their sentiment about the overall economy improved slightly for April, a survey showed Wednesday.The business survey index for the upcoming month came to 93.3, slightly up from 92.1 registered a month earlier, the Federation of Korean Industries said in a statement. (Yonhap)A reading below 100 means pessimists outnumber optimists, while a reading above the benchmark means the opposite.T
IndustryMarch 29, 2017
-
Daewoo Shipbuilding faces critical weeks with new deals hanging on rescue plan
Daewoo Shipbuilding and Marine Engineering, a South Korean ailing shipbuilder, is facing looming uncertainties over the company’s future, with bondholders raising skeptical voices over a fresh rescue plan which might have an impact on securing deals, experts said Tuesday. It is expected that the shipyard, which has the world’s largest backlog orders, will sign two deals by the end of April. DSME is scheduled to sign a $250 million deal this month at the earliest to build three very large crude c
IndustryMarch 28, 2017
-
Asiana Airlines tops service quality rankings
Asiana Airlines said Tuesday that it was ranked the top airline in this year’s National Customer Satisfaction Index.In particular, Asiana passengers showed high satisfaction among women, passengers in their 20s, and those flying in premium classes. (Yonhap)The airline received high marks for its premium services, its new planes and IT-focused services including its mobile app and beacon service.The NCSI, compiled by the Korea Productivity Center, is an index measuring consumer satisfaction towar
IndustryMarch 28, 2017
-
Kumho Tire creditors vote to disallow Park’s consortium
Kumho Tire’s creditors have voted to disallow Kumho Asiana Chairman Park Sam-koo from forming a consortium to raise funds to buy a controlling stake in the tire company, but allowed for the possibility of “revisiting the discussion.”On Tuesday, Korea Development Bank released a statement saying that the creditors voted down a motion to allow Park to form a consortium with no strings attached. However, the creditors also voted to leave open the possibility of another vote if Park submits a “speci
IndustryMarch 28, 2017
-
SK Planet‘s n11.com remains top open market in Turkey
SK Planet’s open market n11.com was the top open market in Turkey for the second consecutive year in 2016, according to the company Tuesday. Employees pose at the headquarters of n11.com in Istanbul, Turkey. (SK Planet)It was the shopping platform with the most transactions in 2015, overtaking Turkish operator Hepsiburada. Last year, transactions on n11.com totaled $563 million, with 18 million visitors to the site each month. Both sales and visitors rose by 20 percent on-year.According to SK Pl
IndustryMarch 28, 2017
-
Amway Korea names new CEO
Wellness company Amway Korea said Tuesday that it has named Kim Jang-hwan as its new chief executive, effective June 1.The 53-year-old former COO of Amway has been with the company since 1993. Since then, he has held positions in finance, human resources, merchandising, sales and marketing within the company. Amway Korea’s new CEO Kim Jang-hwan (Amway Korea)According to the firm, Kim was instrumental in implementing the company’s future strategy Amway Next in Korea and bringing Amway’s distribu
IndustryMarch 28, 2017
-
Lighter but stronger: Posco develops giga steel for future cars
With carmakers shifting their focus from gasoline-based vehicles to electricity-powered ones under high pressure to curb carbon emissions, the industry has been experimenting with new materials to replace heavy steel.From carbon fiber reinforced polymer to aluminum, carmakers are still contemplating what to use to make environment-friendly vehicles energy efficient as they come with heavier batteries and electric motors. Expressing confidence, South Korean steel giant Posco, has been actively in
IndustryMarch 28, 2017
-
Samsung BioLogics on course to greatest biopharma manufacturing capability
Saving time and lowering costs are decisive factors for a contract manufacturing operator that produces biopharmaceutical products. And Samsung BioLogics is confident of achieving both, the firm’s vice president said. “It’s a matter of capability that can deliver a stable supply of products as clients want,” Yoon Ho-yeol, vice president of the firm, told The Investor and The Korea Herald.The 6-year-old company is expected to have a total of 360,000 liters of capacity, the world’s greatest biopha
IndustryMarch 28, 2017
-
[From the Scene] Dreaming beyond Samsung, BioLogics shakes biopharma industry
SONGDO -- Around 2,800 construction workers tirelessly move around 118,618 square meters of reclaimed land in Songdo, Incheon, to build the world’s single-largest biologic drug production facility for Samsung BioLogics, a core unit on which South Korea’s biggest conglomerate is pinning its future.Having broken ground in November 2015, the five-story facility, equivalent to a 15-story apartment building, is scheduled for completion next year. Once completed, the plant is set to become the third m
IndustryMarch 28, 2017
-
MAN Truck & Bus Korea opens new headquarters in Yongin
MAN Truck & Bus Korea, the local distributor of the German automaker, has opened its new headquarters in Yongin, Gyeonggi Province, in the company’s 16th year joining the market here. The auto manufacturer invested $10 million to build its new Korean headquarters and service center, looking to expand its local presence and its line of commercial trucks and buses in the domestic market. “It’s (the headquarters) not just a new building,” says Max Burger, president of MAN Truck & Bus Korea, durin
MobilityMarch 28, 2017
-
Seoul shares inch up on earnings hopes
South Korean stocks edged up on Tuesday, driven by gains in large-cap exporters, as a rosy outlook on their quarterly earnings is raising the specter for better performance in the country's overall exports, analysts said. The local currency fell slightly against the US dollar.The benchmark Korea Composite Stock Price Index added 7.65 points or 0.35 percent to finish at 2,163.31. Trading volume was moderate at 386.7 million shares worth 4.94 trillion won ($4.43 billion) with gainers outpacing dec
March 28, 2017
-
[Monitor] Judges most satisfied with career in Korea
A recent survey showed that judges have the greatest job satisfaction in South Korea. The satisfaction level was deemed based on the potential for growth, pay, sustainability, working environment, social reputation and overall job performance satisfaction. In second place were coast pilots. The KEIS said that jobs as a means to carry on with daily life are directly connected to an individual’s personal motivation to contribute to society.
March 28, 2017
-
Scientists develop new drug treatment for brain cancer
A group of South Korean medial scientists has developed a new type of non-surgical procedure to deliver drugs to tumors in the brain, the science ministry said Tuesday, opening up new treatment opportunities for patients.Drug delivery to brain tumors has been considered challenging because of the presence of the blood-brain barrier that is in place to protect the critical human organ from non-natural substances. (Ministry of Science, ICT and Future Planning)The team, led by Park Joo-yeong of the
TechnologyMarch 28, 2017