Most Popular
-
1
Key suspects grilled over alleged abuse of power in Marine death inquiry
-
2
Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
-
3
S. Korean children, teens grow taller, mature faster than before: study
-
4
Army takes group action against Hybe for neglecting BTS
-
5
Some junior doctors are returning: Health Ministry
-
6
Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
-
7
Debate rages over ‘overly fatty’ samgyeopsal
-
8
Naver will consider company benefits in deciding on selling Line shares: CEO
-
9
[Weekender] Korean psyche untangled: Musok
-
10
Woman dangling from power lines rescued by residents holding blanket
-
Korea to impose anti-dumping duties on Chinese offset printing plates
South Korea is set to impose anti-dumping duties on Chinese-made aluminum plates for offset printing, the trade commission here said Friday, amid rising trade tensions between the two countries.After a preliminary examination, the Korea Trade Commission said it will recommend the finance ministry levy punitive duties of 5.73-10 percent on the Chinese products for underselling Korean products and causing damage to the South Korean market.The finance ministry is to determine whether to actually im
IndustryJan. 20, 2017
-
Korea introduces 24-hour capsule hotel at Incheon airport
Small but fully equipped and furnished rooms will begin accommodating passengers at South Korea's Incheon International Airport, providing a private and comfortable place to rest at the bustling airport, the transportation ministry said Friday.The new capsule hotel opened Friday with 30 container-size rooms on each side of the arch-shaped main terminal of the airport, west of Seoul, according to the Ministry of Land, Infrastructure and Transport. The interior of a new capsule hotel introduced at
IndustryJan. 20, 2017
-
Korean economy put to test in Trump era
South Korea’s withering economy will be put to the test with US President Donald Trump officially taking office at the White House on Friday.Especially when most chiefs of Korean conglomerates are being probed by a team of special investigators on allegations that they colluded with the presidential office of Cheong Wa Dae for business favors, corporate Korea is losing its chance to build networks with US officials under the new Trump administration, observers say.Revelers attend the Texas Black
Jan. 20, 2017
-
[NEWS FOCUS] Challenges ahead for new chief of Shinhan Financial
Shinhan Bank CEO Cho Yong-byoung, who was nominated as new chairman of Shinhan Financial Group Thursday, faces mounting challenges including retaining the No. 1 post in the fiercely competitive local financial industry.When the second term of current Chairman and CEO Han Dong-woo expires in March, Cho will take up the three-year post once he gets approval at the general shareholders meeting in March. The term can be renewed one time. Shinhan Bank CEO Cho Yong-byoung. (Shinhan Financial Group)Ch
Jan. 20, 2017
-
Kia begins All New Morning sale with over 4,000 on waitlist
Since launching its presale period on Jan. 4, Kia’s All New Morning compact smart car has landed more than 4,000 contracts in two weeks, the company announced Friday. Officially released to the public Tuesday, it marks the first new edition of Kia’s compact series in six years, since the second-generation model was released in 2011. The first in line to purchase the new All New Morning car was 25-year-old working mom Choi Soo-bin of Paju, Gyeonggi Province.Choi Soo-bin (center), the first custo
BusinessJan. 20, 2017
-
Deutsche Bank ordered to compensate investors for stock manipulation in class action suit
A lower court ordered Deutsche Bank on Friday to compensate investors for damage it caused by manipulating stock prices, in the nation's first-ever ruling on a class action suit.The Seoul Central District Court ordered the Germany-based financial services company to pay a total of 8.55 billion won ($7.28 million) to six plaintiffs who invested in local equity-linked securities products in 2007. (Deutsche Bank)An ELS is structured to link yields to the performance of underlying assets, such as in
Jan. 20, 2017
-
Listed companies' name changes on rise
The number of companies that has changed their names has steadily increased in recent years as some of them sought to improve their corporate images, data showed Friday.Data compiled by the Korea Securities Depository showed that 99 companies -- 19 on the main bourse KOSPI and 80 on the tech-savvy KOSDAQ market -- changed their names in 2016, compared with 67 in 2013.The Korea Securities Depository said 52.5 percent of the companies changed their names to improve their images. Other reasons behi
Jan. 20, 2017
-
McCain slams China for 'bullying' Korea over THAAD
US Senator John McCain (R-AZ) slammed China on Thursday for "bullying" South Korea for its decision to host the US THAAD missile defense system aimed at defending against North Korea, urging Beijing to use its "considerable influence" to rein in Pyongyang.McCain, chairman of the Senate Foreign Relations Committee, also said that Chinese bullying of the Asian ally is "unacceptable" and said he hopes the incoming administration of Donald Trump ensures US security commitments."China is escalating i
Jan. 20, 2017
-
KT CEO to make keynote speech at annual tech show in Spain
KT Corp.'s chief executive, Hwang Chang-gyu, is expected to address challenges and opportunities facing the mobile industry when he speaks at next month's annual industry fair in Spain.Hwang, head of South Korea's biggest telecom services firm, will make a keynote speech at the Mobile World Congress show, which will begin its five-day run on Feb. 27. KT CEO Hwang Chang-gyu (Yonhap file photo)Details of Hwang's speech were not known, but he is expected to lay out the company's plans for ultra-fas
IndustryJan. 20, 2017
-
Lotte set to approve exchange of land for THAAD deployment
South Korean conglomerate Lotte will likely relinquish its golf club in the rural town of Seongju so the land can be used for the deployment of a US air missile defense system, informed sources said Friday, despite possible repercussions for its business in China.According to officials from Lotte Group, Lotte International -- the owner of the Seongju golf club -- is expected to approve an exchange of the club for a piece of land in Namyangju, Gyeonggi Province, currently owned by the military.Th
IndustryJan. 20, 2017
-
Basic materials sector gets boost from Trump expectations
Stock funds invested in basic materials and healthcare are showing promising profits so far this year on expectations of a market boom after new US President Donald Trump takes office, data showed Friday.Fund rating company KG Zeroin said the profit rate for basic materials sector funds ranked at the top with 6.71 percent, followed by healthcare-related funds at 4.76 percent. The company surveyed local and foreign stock funds with more than 1 billion won ($848,896) operated for at least two week
Jan. 20, 2017
-
Investors fleeing stock-invested funds on chronic low profit
Stock-invested funds have lost their luster, their size now less than half of what they used to be 10 years ago as their unattractive profit showings shed investors, finance industry data indicated Friday.According to the Korea Financial Investment Association, money in local stock-invested funds totaled 73.69 trillion won ($62.55 billion) at the end of last year, or 15.7 percent of total funds summed at 469.31 trillion won. On a year-end tally basis, the ratio is the lowest in 11 years.The prop
Jan. 20, 2017
-
New orders raise hopes of recovery in shipbuilding sector
A series of new shipbuilding orders in recent weeks have raised hopes of recovery in South Korea's troubled shipbuilding industry, boosted by rising oil prices and a global supply shortage of new ships. Samsung Heavy Industries Co. said this week that it had won a $230 million deal to build a floating storage and regasification ship.This photo shows a floating production unit (Samsung Heavy Industries Co.)Under the deal with Norway-based Hoegh LNG Holdings Ltd., the shipyard will build the vesse
IndustryJan. 20, 2017
-
Shinhan Bank CEO nominated new chairman of Shinhan Financial
South Korea’s largest financial institution Shinhan Financial Group said it has selected Shinhan Bank CEO Cho Yong-byoung as the final candidate to be the next chairman of the group. Shinhan Bank CEO Cho Yong-byoung. (Shinhan Financial Group)Cho was unanimously chosen by the seven members of the corporate governance and CEO recommendation committee among the three candidates, the group said in a statement. The other two candidates were Wi Sung-ho, the CEO of Shinhan Card, and Choi Bang-gil, the
Jan. 19, 2017
-
[Weekender] The snack evolution
Snacks, once produced and marketed mostly for children, have become a major consumption item for Koreans of all ages, seeking to munch away their stress with more diverse and healthier options. (Lotte Confectionery)Confectionery companies are driving trends with snacks infused with fruit and tea flavors and made with whole premium ingredients to appeal to health-conscious adults.As these new creations receive positive responses both at home and abroad, manufacturers and distributors are intensi
IndustryJan. 19, 2017
-
Samsung avoids the worst, but faces major business delays over probe
Samsung Group heaved a sigh of relief Thursday, as a Seoul court rejected a request by a special counsel to arrest the group’s heir apparent Lee Jae-yong. However, the company expressed concerns over its business prospects, citing the possibility of the ongoing probe continuing to create a leadership vacuum. “The group has avoided the worst-case scenario, but is still facing an ongoing probe and a series of trials afterward. It will take quite a considerable amount of time, possibly suspending n
IndustryJan. 19, 2017
-
Budget smartphones filling gap left by premium phones in Korea
Korean tech firms and telecom operators are filling in the gap left by flagship smartphones with their low cost products. The next premium smartphones, including Samsung’s Galaxy S8 and LG’s G6, are scheduled to launch after February.Samsung Electronics said it began sales its low cost Galaxy A5 on Thursday for 550,000 won ($467) in Korea. This is around half the price of its flagship smartphone Galaxy S series, which are sold for around 1 million won. Despite the low price, the device still fea
TechnologyJan. 19, 2017
-
Hyundai’s Chung Eui-sun attends World Economic Forum
Hyundai Motor Company Vice Chairman Chung Eui-sun attended this year’s 2017 World Economic Forum, held in Davos, Switzerland from Jan. 17 to 20. Chung joined in on key sessions with the forum’s automotive committee, sharing his analysis of some of the industry’s top trends, including eco-friendly cars and autonomous vehicles, according to a press statement released by Hyundai on Thursday. The vice chairman reportedly met privately with CEOs of major global automakers, gauging future automotive
MobilityJan. 19, 2017
-
[Superrich] Korea’s Richest 100 born in the year of chicken
The Year of the Chicken has arrived. According to the Superrich team’s “Korea’s Richest 100” database, there are four people in the business world who were born in the year of the chicken, which are 1945, 1957, and 1969. Among the four is Hong Ra-hee, 72, who is the director of the Museum of Art. She has the largest amount of assets out of the four. Born in 1945, Hong is the wife of Samsung Electronics Chairman Lee Kun-hee. Together they have three children -- Lee Jae-yong, the Vice Chairman of
CompaniesJan. 19, 2017
-
[Superrich] From poultry farmers to conglomerate chiefs
When poultry farming was a promising business in the mid-1970s, there were two high school students in the Jeolla provinces showing their business acumen from an early age.One was Kim Hong-kuk, a student of Iri Agricultural High School in Iksan-si, North Jeolla Province. Born in 1957, Kim’s grandmother bought him 10 chicks when he turned 11. He sold the chickens once they grew up, and used the profit to buy more chicks. By 1975, he owned over 1,000 chickens -- and was also in his first year of h
CompaniesJan. 19, 2017