Most Popular
-
1
Jimin of BTS, actor Song Da-eun suspected to be dating, again
-
2
Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
-
3
What's next for the government's push in quota hike?
-
4
Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
-
5
Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
-
6
N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
-
7
‘Malice should not undermine the system, social order,’ says Hybe's Bang
-
8
N. Korea fires short-range ballistic missiles toward East Sea: JCS
-
9
[Robert J. Fouser] Social attitudes toward language proficiency
-
10
[Graphic News] How much do Korean adults read?
-
All 6 new cars pass interior air quality standards
All new cars launched in South Korea over the past 12 months have satisfied government standards on vehicle interior air quality, the transportation ministry said Tuesday.The government test checked the interior air quality of six new cars launched here between July 2015 and June 2016, according to the Ministry of Land, Infrastructure and Transport.The new cars include the Sportage SUV and the K7 midsize sedan from the country's No. 2 automaker Kia Motors Corp. and the SM6 midsize car from Renau
MobilityNov. 29, 2016
-
Korea's manufacturing sentiment to remain unchanged next month
South Korean manufacturers' business sentiment will remain unchanged next month, though they expect an increase in domestic demand and exports, central bank data showed Tuesday.The business survey index (BSI) of manufacturing firms came to 72 in December, unchanged from a month earlier, according to the Bank of Korea (BOK).A reading above 100 means optimists outnumber pessimists, while a reading below the benchmark means the opposite.An index measuring local firms' sentiments toward exports came
Nov. 29, 2016
-
Business owners, doctors rank in top 0.1% income group: report
One would have to have an annual income of 360 million won ($306,252) to be in the top 0.1 percent rank, a social segment made up mostly of CEOs, business owners and doctors, a report said Tuesday.By individual group, shareholders were the top earners with an average 1.35 billion won.The report, drawn up by researcher Hong Min-ki of the Korea Labor Institute, is based on an analysis of statistics from the National Tax Service and the Ministry of Employment and Labor from 2011-2014.CEOs accounted
Nov. 29, 2016
-
Business world in suspension from presidential scandal
Routine year-end corporate activities have been suspended this year as CEOs await a prosecutorial investigation over a presidential scandal, delaying reshuffles for next year's business planning and bonus payments, corporate sources said Tuesday.At Samsung, the reshuffle of executive-level officers, usually carried out on the first Tuesday of December, has been pushed back to after mid-month, according to inside sources. Dec. 6, the first Tuesday of December this year, happens to be the day that
Nov. 29, 2016
-
Samsung Electronics reviews holding company structure
Samsung Electronics Co. said Tuesday it has been reviewing the "possibility" of creating a holding company structure to improve the company's corporate structure and enhance its transparency. In a statement, Samsung said it will also increase total dividends in 2016 by 30 percent on year, bringing the annual dividend amount to 4 trillion won ($3.4 billion)."Samsung Electronics has taken steps to simplify its business to concentrate on core capabilities in the past several years and the company c
IndustryNov. 29, 2016
-
OECD cuts S. Korea’s 2017 growth outlook
The Organization for Economic Cooperation and Development on Monday cut its 2017 growth forecast of the South Korean economy to 2.6 percent from an earlier projection of 3 percent, citing a slower government spending next year.In its latest global economic outlook, the OECD said Asia’s fourth-largest economy will slightly recover its growth momentum in 2018 with 3 percent growth, while the global economy is expected to attain 3.3 percent growth in 2017 and 3.6 percent growth in 2018.“Concerns ab
Nov. 28, 2016
-
Samsung to unveil plan on Elliott’s proposal
Samsung Electronics is set to unveil its position Tuesday on a proposal to split the company into two, a suggestion made by activist hedge fund Elliott Management.In early October, Elliott called on Samsung Electronics to separate into a holding company for ownership purposes and an operating company. It also suggested dual-listing the operating company on the US exchange Nasdaq and paying shareholders a special dividend of $27 billion. In response to the proposals, Samsung had said it would sha
IndustryNov. 28, 2016
-
Seoul to step in if markets become more unstable: regulator
The South Korean government will take market stabilization measures if interest rates in the local financial markets continue to soar amid rising possibilities of inflation and a US rate hike, the nation’s top financial regulator said Monday.Yim Jong-yong, Chairman of the Financial Services Commission, said the global financial market could turn more volatile if US President-elect Donald Trump’s campaign pledges start to materialize.“There are concerns that market interest rates may continue to
Nov. 28, 2016
-
S-Oil to donate W200m of heating oil to underprivileged
Korean oil refiner S-Oil said Monday it would hand out heating oil worth 200 million won ($171 million) as part of its regular community service efforts to support people in need. (S-Oil)Under the “Hope to You” campaign, S-Oil CEO Othman Al-Ghamdi donated 200 million won to the Korea National Council on Social Welfare. The fund will be used to provide fuel vouchers for low-income families and senior citizens living alone, with each household getting vouchers worth 1 million won. “I was quite he
IndustryNov. 28, 2016
-
No industries to enjoy boom next year: report
No Korean industries are likely to prosper next year, despite some business improvements in several sectors, such as the information and communication technology, automotive and steelmaking industries, a report by a research institute showed Monday. According to the Hyundai Research Institute’s report on the future of seven Korean industries, the ICT industry will continue to gradually recover next year, particularly in the production and export of semiconductors. However, the tougher competitio
IndustryNov. 28, 2016
-
Korean instant noodle exports to reach $300m
Exports of Korean instant noodles are poised to hit $300 million this year, with strong growth in unique premium products.According to the Korea Customs Service on Monday, exports of Korean ramen so far in 2016 have totaled $232.7 million, up from yearly totals of $218.8 million in 2015 and $208.5 million in 2014. This was the first year that exports had broken $200 million by the end of the third quarter.Leading ramen producer Nongshim is riding on the surge in exports. It announced Monday that
IndustryNov. 28, 2016
-
Look to Japan for health care lessons: Kotra
With its aging population, South Korea should look to Japan for lessons and opportunities that can be applied to its health care industry, a government trade promotion agency said in a report Monday. The Korea Trade-Investment Promotion Agency said in its global strategy report titled, “The Fourth Industrial Revolution Era: Japan’s Medical and Health Care Industry,” that Japan is making an all-out push to strengthen the global competitiveness of its health care i
IndustryNov. 28, 2016
-
Samsung CSR Awards recognize employees for volunteer works
From a special class for the visually impaired to teach how to use a smartphone to papering the walls for low-income households, some 35 employees of Samsung affiliates who shared their talents with people in need received the annual Samsung Corporate Social Responsibility award on Thursday. Recipients of 2016 Samsung CSR award pose for photo at a ceremony held at Samsung Electronics headquarters in Seocho, Seoul, Thursday. (Samsung Group) The Samsung CSR Award was established in 1995 to honor t
IndustryNov. 28, 2016
-
KITA chief urges end to cozy corporate-state ties
Kim In-ho, chairman and CEO of Korea International Trade Association, on Monday urged the government to end its cozy ties to businesses, amid intensifying allegations that President Park Geun-hye lobbied chaebol leaders.Asked of his view on the scandal involving Park and her long-time friend Choi Soon-sil, Kim said he believes that the time is ripe to end such practices and take this as an opportunity to shift into a completely free market economy. “The current government is not the only one. Al
IndustryNov. 28, 2016
-
[Monitor] Income of 40-somethings drops for the first time on record
South Korea’s economic doldrums have caused a decline in average household income for people in their 40s in the third quarter this year, data by Statistics Korea showed. It is the age group’s first decline in income since Statistics Korea’s income survey began in 2003. The data showed that householders aged 40 to 49 -- Korea’s most economically active age group -- earned an average of 5.05 million won ($4,254.41) during the period, a drop of 1,569 won ($1.30) from a year ago.
IndustryNov. 28, 2016
-
[Kosdaq Star] BHflex shares rally on new global contracts
Clinching contracts with new customers abroad has raised market watchers’ expectations on the growth of BHflex, a flexible printed circuit board provider based in South Korea. According to the financial industry on Monday, the company’s sales and operating profit for next year are estimated to surge compared to this year as it received new overseas orders. The FPCB manufacturer is forecast to post 376.1 billion won ($321.8 million) in sales by the end of the year, and 13.4 billion won in operati
Nov. 28, 2016
-
Korea to toughen rules on anti-money laundering
South Korea said Monday it will step up efforts to close systemic loopholes in efforts to combat money laundering.The government plans to revise related legislation to cover lawyers, accountants, realtors and other professionals in non-finance sectors, according to the initiative by the authorities.Currently, only financial firms and casinos are subject to the law calling for the identification of customers, storage of relevant records and reporting of suspicious transactions.Yim Jong-yong, chai
Nov. 28, 2016
-
Public entities to hire record numbers in 2017
South Korea's public firms and agencies will recruit a record high of nearly 20,000 new employees next year to take part in nationwide efforts to boost the employment of young job seekers, the government said Monday.According to the recruitment plan compiled by the Ministry of Strategy and Finance, 321 state-funded organizations will hire an all-time high of 19,862 new employees in 2017, up about 1,300 from this year's plan of 18,518. The figure had risen from 17,323 in 2013 to 18,932 in 2015. P
Nov. 28, 2016
-
Money circulation drops as people keep more in banks
Turnovers for deposits fell to their lowest rate in over 11 years in September, the latest central bank figures showed Monday, indicating worsening monetary congestion that is blocking the flow of investment and consumption needed to revive the economy.The turnover of demand deposits in September came to 19.6, down from 20.7 the previous month. The September number is the lowest since 18.1 in February 2005, the last time the rate fell below 20, according to the Bank of Korea.The deposit turnover
Nov. 28, 2016
-
Seoul to introduce systematic management of air traffic to reduce flight delays
South Korea will set up a new air traffic flow management system before the end of next year to enhance airport safety while also improving airline services by greatly reducing flight delays, the government said Monday.Such a system will be up and running before the end of July 2017, according to the Ministry of Land, Infrastructure and Transport."The government will work to reduce air traffic and flight delays by establishing a new air traffic management system that will help predict airport co
TechnologyNov. 28, 2016