Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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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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Seoul shares open higher on Samsung Electronics
South Korean stocks opened higher Tuesday, backed by a bullish start of market behemoth Samsung Electronics Co. and chemical companies, analysts said. The benchmark Korea Composite Stock Price Index rose 6.58 points, or 0.31 percent, to trade at 2,162.24 in the first 15 minutes of trading. Shares of Samsung Electronics, a global leader in smartphones and memory chips, jumped 1.07 percent, with LG Chem, a leading chemical firm, also soaring 1.6 percent. Samsung stocks account for more than 20 per
March 28, 2017
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New Samsung flagship's supply may fall behind demand
The supply of Samsung Electronics Co.'s upcoming flagship smartphone, presumably the Galaxy S8, may fail to meet demand due to the sluggish production of Qualcomm chipsets, industry sources said Tuesday.The outlook came as the new top-of-the-line model is expected to become the first smartphone to adopt Qualcomm's latest system on a chip (SoC), the Snapdragon 835. The models that will be sold in South Korea and some other global markets will come with Samsung's own Exynos 8895 that boasts simila
IndustryMarch 28, 2017
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Samsung to sell refurbished Galaxy Note 7
Samsung Electronics Co. said Tuesday it will seek to sell refurbished Galaxy Note 7s, an ill-fated phablet whose production was suspended last year due to safety issues.The South Korean tech giant said some 3 million units of the Galaxy Note 7 will be resold or rented out. (Yonhap)The smartphone maker launched the Galaxy Note 7 last year, but its sales were soon suspended on reports of some of the devices catching fire while being charged.The tech giant has been rolling out replacement programs
IndustryMarch 28, 2017
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Net profit of 6 credit bureau firms in Korea jump 31% last year
The combined net profit of six credit bureau firms in South Korea jumped 31 percent on-year in 2016, as they expanded their business portfolio into new sectors, the nation's financial regulator said Tuesday. The combined net income of the six credit bureau firms, which collects and evaluates credit data between consumers and financial firms, stood at 57.2 billion won ($51.3 million) last year, up 13.6 billion won from 2015, the Financial Supervisory Service (FSS) said in a statement. (Yonhap)The
March 28, 2017
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Banks step up downsizing amid growing mobile, Internet banking
Banks in South Korea sharply downsized their headcounts, branches and automated instruments in 2016 to cut costs amid rapid growth in mobile and Internet banking, government data showed Tuesday.The combined workforce of lenders operating in the country stood at 114,775 as of the end of last year, down 2,248 employees from a year earlier and the largest on-year decline since 2010, according to the data by the Financial Supervisory Service.(Yonhap)The number of bank branches and representative off
March 28, 2017
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China launches anti-dumping probe against S. Korean solvent
China's commerce ministry said Monday it has launched an anti-dumping probe into South Korean exports of a chemical product amid Chinese economic retaliation against South Korea.China also said methyl isobutyl ketone (MIBK) imported from Japan or South Africa is also subject to the probe that could last up to Sept. 27, 2018. (Yonhap)MIBK is used as a chemical intermediate, a solvent for manufacturing paints, rubbers, pharmaceuticals, other chemicals, and industrial cleaners, according to the Ame
IndustryMarch 27, 2017
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Shinhan Financial chief eyes M&As overseas
Cho Yong-byoung, chairman of Shinhan Financial Group, said Monday that he would eye M&A opportunities in Asia and the US market as part of the group’s growth strategy to become a leading financial institution in Asia by 2020.Cho took office as the chief of the largest financial group in South Korea on Thursday, vowing to widen the market gap against the second-largest KB Financial Group in banking and credit card sector, as well as to enhance the growth of other Shinhan subsidiaries.Cho Yong-byo
March 27, 2017
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Transparency key to success to reforming big biz lobby group
Transparency will be the key goal sought by South Korea's troubled business lobby group to restore public confidence after its involvement in a massive corruption scandal that has engulfed the country in recent months, corporate sources said Monday.On Friday, the Federation of Korean Industries (FKI) came up with a set of "drastic" reform measures to transform itself into a transparent, consensus-seeking and research-focused entity. In this photo taken on March 24, 2017, FKI Chairman Huh Chang-
IndustryMarch 27, 2017
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[News Focus] Will Samsung’s Bixby make good?
Analysts have mixed views about Samsung Electronics’ ambitious artificial intelligence assistant Bixby, ahead of the company’s flagship smartphone Galaxy S8 debut this week. Bixby is Samsung’s new Al assistant following its acquisition of the US tech startup Viv Labs. Samsung plans to integrate Bixby with its home appliances and it also plans to open the platform to third-party developers in the future to allow them to easily make their applications and services Bixby-enabled.The hardware giant
TechnologyMarch 27, 2017
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KDB's Daddy-Long-Legs campaign continues
Korea Development Bank, South Korea’s policy bank, has made its eighth donation aimed at helping underprivileged students with their education, the bank said Monday. The bank donated 10 million won ($8,990) to “Daddy-Long-Legs Classroom,” an after school program that provides one-on-one sessions for students who come from a low-income household. Korea Development Bank’s Lee Dong-geol (right) delivers a donation of 10 million won to Kang Myeong-hee, the head of the “Daddy-long-legs Classroom” pro
IndustryMarch 27, 2017
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Hyundai E&C eyes further expansion overseas
Korean builder Hyundai Engineering and Construction will focus on expanding and diversifying overseas businesses to maintain financial stability, the company said Monday. By focusing on foreign markets and quality construction projects, the company saw an operating profit exceeding 1 trillion won ($898 million) last year, a first among South Korean builders, bucking the trend in the sluggish overseas and domestic construction markets, the company said.Hyundai Engineering and Construction’s power
CompaniesMarch 27, 2017
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Combating money laundering is a must, not an option
In 1920s, Al Capone, a notorious American gangster, made money illegally by gambling and selling liquor and pretended that the money came from a laundry shop that he ran legitimately. Shop users paid in cash, which made it difficult to know how many visited the shop, and Al Capone abused this situation. This story suggests where the term “money laundering” came from. Money laundering is the process whereby the proceeds of crime are transformed into ostensibly legitimate money.The US regulators f
March 27, 2017
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Kia to launch new Stinger in May
The new Kia Stinger sports sedan (Yonhap)Kia Motors’ new high-performance sports vehicle Stinger is expected to be launched in Korea this May, according to industry insiders Monday. Following its world premiere at the 2017 North American International Auto Show in Detroit in January and its European premiere at the Geneva Motor Show in Switzerland in March, the Stringer will be getting is local debut at the Seoul Motor Show, which will open to the public starting Friday. Kia Motors also plans
MobilityMarch 27, 2017
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SsangYong announces Y400 SUV to be named G4 Rexton
Exterior view of the new SsangYong G4 Rexton SUV, formerly known as the Y400 (SsangYong Motor)SsangYong Motor announced on Monday that the name of its upcoming premium SUV, which was previously referred as the Y400, is the G4 Rexton. According to SsangYong, the name “G4” is meant to represent the meaning “Great 4 Revolution.” The name is intended to highlight the SUV’s four main quality aspects: driving, safety, style and high-tech. The company also revealed images of the exterior and interior
MobilityMarch 27, 2017
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Rising exports to China portend greater risks
Despite China’s retaliatory moves against Seoul’s hosting of a US missile defense system, South Korea has seen its exports to the world’s No. 2 economy increasing in recent months.The country’s shipments to China rose by 16.4 percent from a year earlier during the first 20 days of this month, following four consecutive months of on-year increases, according to the latest customs data. In February, the growth rate was 28.7 percent, the highest since late 2010.(Yonhap)This continuous increase in s
March 27, 2017
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[Monitor] Korea’s Engel coefficient hits record low
South Korea’s monthly average household spending on food and non-alcoholic beverage items reached 349,000 won last year, with the Engel coefficient against the total spending coming at 13.7 percent, the lowest since 2003.The average consumer spending was 2.55 million won. The drop was attributed to a decline in food prices that brought down the overall spending amount.The coefficient, however, differed significantly among different levels of income, with the index for the low-income households m
March 27, 2017
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Scientists develop anti-counterfeit film
A state-funded chemical institute said Monday that it has developed a new anti-counterfeit film that changes color when it comes in contact with a person's breath, a finding that can be applied to various products like cigarettes and cosmetics.The Korea Research Institute of Chemical Technology said it has successfully developed a transparent film which shows different colors such as blue and red if it has been breathed upon. (Korea Research Institute of Chemical Technology)If companies use this
TechnologyMarch 27, 2017
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NCSoft signs ‘Lineage M’ publishing deal with Taiwan’s Gamania
South Korean game company NCSoft said Monday that it has signed a publishing deal with Taiwanese game company Gamania Digital Entertainment Co. for “Lineage M,” a mobile rendition of NCSoft’s hit online PC game Lineage. Developed by NCSoft, “Lineage M” is a massive multiplayer online role playing game for mobile devices. It aims to recreate the original PC game’s gameplay and elements in a mobile setting as closely as possible, the company said.Under the new publishing deal, Gamania will releas
TechnologyMarch 27, 2017
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LG Electronics opens premium shop in Qatar
PREMIUM LG -- Customers check out home appliances at an LG Electronics Premium Brand Shop which opened on Monday in the Mall of Qatar, the biggest shopping mall in the country. LG said it aims to solidify its leadership in the premium home appliance market in Middle East by offering local customers the company’s latest premium products. (LG Electronics)
TechnologyMarch 27, 2017
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Mobile carriers partner with builders to introduce AI, IoT home
Increasing numbers of partnerships are forming among South Korean mobile carriers and construction firms to build smart homes featuring artificial intelligence and Internet of Thing technologies. In the latest move, SK Telecom said Monday the company signed a partnership with Hyundai Development Company and its home network affiliate HDC I-Controls to apply SKT’s AI and IoT technologies to HDC’s flagship I-Park apartments. Under the agreement, SKT will provide I-Park residents with the company’s
TechnologyMarch 27, 2017