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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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul to more than double military drones by 2026 to counter NK threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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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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‘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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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
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SKT CEO sets up control tower for AI business
South Korea’s largest mobile carrier SK Telecom announced Monday it has created a division for new artificial intelligence businesses to be masterminded by its CEO Park Jung-ho.The company said the new AI Business Division will be in charge of development of AI technologies and related services, products and businesses, directly commanded by the chief.(Yonhap)Such organizational restructuring comes amid Park’s plan to boost AI as a future growth engine for the mobile carrier, relying less on the
TechnologyMarch 27, 2017
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SPC readies launch of salad restaurant
Food group SPC said Monday that it is readying the launch of a new salad restaurant called Pig in the Garden, set to open April 3.The restaurant will be a fine casual salad restaurant mainly offering up fresh salad bowls and salad plates that combine fresh greens with grilled dishes. Construction is underway at the first Pig in the Garden branch in Yeongdeungpo-gu, Seoul. (SPC)The menu will also include popular dishes such as caesar salad and cobb salads, as well as seasonal salads like ricotta
IndustryMarch 27, 2017
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Seoul shares fall 0.61% on US policy jitters
South Korean stocks closed 0.61 percent lower on Monday, as investors took to the sidelines on weakened risk appetite following a thwarted legislation of a US healthcare bill pushed forward by the Donald Trump administration, analysts said. The local currency rose against the US dollar.The benchmark Korea Composite Stock Price Index finished down 13.29 points to 2,155.66. Trading volume was moderate at 390.9 million shares worth 5.02 trillion won ($4.51 billion) with decliners outnumbering gaine
March 27, 2017
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Renault Samsung to export QM6 SUVs to Europe
Renault Samsung Motors Co. said Monday it aims to sell about 40,000 in overseas markets by the end of this year as it has begun to ship its flagship SUV to Europe. Renault Samsung said it has started the shipment of the QM6 SUVs (sold as Renault Koleos outside of South Korea) initially to western Europe, the company said in a statement. In this photo taken on Dec. 22, 2016, and provided by Renault Samsung Motors Co., a QM6 SUV travels along a unidentified road in South Korea. (Yonhap)The compan
MobilityMarch 27, 2017
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Prepaid card use drops sharply due to inconvenience
The use of prepaid cards has dropped sharply in recent years, data showed Monday, as credit card companies have shunned promoting their use due to inconvenience.Credit card firms have been reluctant to stage marketing campaigns for prepaid cards as such payment methods are burdensome to issuers with little benefits.(Yonhap)The amount purchased by prepaid cards issued by eight credit card firms declined 22.9 percent to 379.9 billion won ($340.8 million) last year from a year earlier, according to
March 27, 2017
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Kospi tipped to flirt with 2,300-point level in H2
South Korea's main stock price index is expected to flirt with the 2,300-point level in the second half of this year on high expectations for improved corporate earnings, brokerages said Monday.Citing a recovery in the global economy, NH Investment & Securities Co. said in a research note that it has raised its 2017 target for the benchmark Korea Composite Stock Price Index to 2,350 from an earlier 2,250.(Yonhap)"After walking sideways for years, Kospi is on pace to breach the previous record,"
March 27, 2017
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LG Electronics launches high-end shop in Qatar
LG Electronics Inc. said Monday it has opened a store in Qatar to promote its premium electronic goods, speeding up steps to tap deeper into the Middle East market.The shop will allow visitors to experience its high-end products, including the tech giant's Signature series of appliances. (Yonhap)The South Korean tech giant has been rolling out various marketing efforts in the Middle East, as well as Africa, to expand its presence there.LG Electronics already operates such premium shops in Iran,
IndustryMarch 27, 2017
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Scientists develop thermoelectric graphene
A group of South Korean scientists has developed a graphene with enhanced thermoelectric capabilities, a state-run science laboratory said Monday, a discovery that could be used for wearable technologies such as bendable electronic devices.Graphene is an atomically thin two-dimensional allotrope of carbon materials in which one atom forms each vertex. It is about 200 times stronger than the strongest steel and has applications in semiconductors and various electronic devices. (Korea Institute of
TechnologyMarch 27, 2017
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Seoul to sell naming rights for 58 additional subway stations
The government of Seoul plans to sell the naming rights for more than 50 subway stations this year to make up for losses in its subway operations.The Seoul Metropolitan Government said Monday that it will auction off the naming rights for 58 additional subway stations, including 23 on lines 1-4 and 20 on lines 5-8. Hongje Station of Seoul Subway Line 3 uses the additional name of Seoul Culture Arts University. (Seoul Metropolitan Government)A number of downtown and commercial hub area stations,
IndustryMarch 27, 2017
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Two-thirds of firms to increase facility investment this year
Two-thirds of South Korean firms plan to increase their spending on facility investment this year, a survey by the central bank showed Monday, as the nation's exports show signs of a recovery. The Bank of Korea said in a statement that 66.7 percent of the 271 manufacturers checked said they will invest more in facilities this year than in 2016. (Yonhap)The remaining 33.7 percent responded that their facility investment would fall in 2017, compared with last year. Of the firms that plan to incre
IndustryMarch 27, 2017
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Korea to set up W113.5b fund to help bio startups
South Korea will establish a 113.5 billion-won ($101.8 million) fund to nurture startups and venture firms in the bio sector to secure new growth engines, the science ministry said Monday.Under the comprehensive plan finalized during a government meeting presided over by Acting President and Prime Minister Hwang Kyo-ahn, the fund will be floated to help young jobseekers launch new startups and develop new bio technology, the Ministry of Science, ICT and Future Planning said. (Yonhap)The ministry
IndustryMarch 27, 2017
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Brokerage house condemns Samsung's delay in transition to holding firm
A local brokerage house on Monday criticized Samsung Electronics Co. for putting off its plan to adopt a holding-company structure, stressing the top smartphone maker should have been more cautious when approaching the issue.The tech giant said through a regulatory filing in November that it will seek a change in the management structure, which includes splitting itself into a holding company and an operating company to boost shareholder returns. (Yonhap)Last week during a shareholders' meeting,
IndustryMarch 27, 2017
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Seoul shares down 0.41% in late morning trade
South Korean stocks traded 0.41 percent lower late Monday morning led by a drop in auto and financial large-caps, analysts said.The benchmark Korea Composite Stock Price Index retreated 8.93 points, or 0.41 percent, to 2,160.02 as of 11:20 a.m.Top automaker Hyundai Motor slipped 1.2 percent, with its auto parts-making affiliate Hyundai Mobis dipping more than 2 percent.KB Financial Group lost nearly 2.3 percent. Market bellwether Samsung Electronics also inched down 0.1 percent. But shares of it
March 27, 2017
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Korea's exports to FTA partners up 16.7% through Feb.
South Korea's exports to trade partners that it has free trade agreements with jumped 16.7 percent on-year in the first two months of 2017 amid a recovery in the country's total outbound shipments, customs data showed Monday.Exports to 52 countries that have open trade pacts with South Korea reached $59.7 billion in the January-February period, up from $51.1 billion tallied a year ago, according to the data released by the Korea Customs Service. (Yonhap)Imports rose 13.7 percent on-year to $45.4
IndustryMarch 27, 2017
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521 employees at financial industry disciplined over irregularities
A total of 521 executives and employees in the nation's financial industry were disciplined last year over their irregularities, data showed Monday, representing that moral hazard was still rampant in the financial markets. Some employees were accused of allegedly swindling customers' money, while others were criticized for neglecting their duties of securing customer information, according to the data by the Financial Supervisory Service. (Yonhap)Of the 521 people who were disciplined last yea
March 27, 2017
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Korea's 10 biggest groups own W74tr worth of land
The estimated value of land owned by South Korea's 10 biggest business groups rose to a record high last year due in part to the purchase of the headquarters of the Korea Power Electric Corp. (KEPCO) by Hyundai Motors Co. and its affiliates, a market researcher said Monday.Hyundai Motor Co. and some of its affiliates purchased the 79,345-square-meter plot in southeastern Seoul for 10.55 trillion won ($8.96 billion) in late 2015 to build a Seoul landmark featuring the country's tallest skyscraper
March 27, 2017
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Number of self-employed soars in Feb. amid slump
The number of self-employed South Koreans rose at the fastest clip in more than a decade in February as more people opted to set up shop amid a prolonged economic slump and subsequent difficulty finding jobs, data showed Monday.According to the data by Statistics Korea, the country's self-employed numbered 5.52 million in February, up 213,000 from the same month a year earlier. (Yonhap)It marked the largest on-year increase since the 220,000 people recorded in April 2002.Of the total, one-man op
March 27, 2017
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Seoul shares open lower on banks, brokerage losses
South Korean stocks got off to a weak start Monday, driven by losses in banks and brokerage firms, analysts said. The benchmark Korea Composite Stock Price Index slipped 7.29 points, or 0.34 percent, to trade at 2,161.66 in the first 15 minutes of trading. Financial stocks led the decline, with leading lender Shinhan Financial dipping more than 2 percent and brokerage firm NH Investment & Securities sliding nearly 3 percent. In contrast, domestic-focused issues gathered ground, with SK Telecom,
March 27, 2017
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Premium smartphones take up less than 30% of Samsung's phone sales
High-end smartphones took up less than 30 percent of Samsung Electronics Co.'s combined sales of handsets, data showed Monday, although the figure is expected to rebound after the launch of the tech giant's upcoming new flagship model this week.According to the data compiled by Hana Financial Investment Co., premium models are estimated to have accounted for 29 percent of Samsung's combined smartphone sales in the January-March period. (Yonhap)It marks the first time that high-end devices, such
IndustryMarch 27, 2017