Most Popular
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Naver’s Line ownership in jeopardy as Japan ups pressure
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South Korea to launch space security center under spy agency
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More med professors to take day off each week while govt. urges them to stay
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Hybe refutes Ador CEO Min's denial of breach of trust
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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[Weekender] How DDP emerged as an icon of Seoul
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Korean shares jump 1.7% to close above 2,000-point level
Korean shares rallied 1.74 percent Thursday amid growing expectations of a recovery in the Chinese economy. The local currency sharply fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 34.53 points to 2,015.85. Trade volume stood at 456 million shares worth 6.3 trillion won ($5.4 billion), with gainers outnumbering losers 472 to 337.The KOSPI's upswing came a day after China released strong trade data. Its exports soared 11.5 percent on-year in March.The
April 14, 2016
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Businesses call for new Assembly‘s efforts to restore economy
The nation’s major business associations called on the new National Assembly to make cooperative efforts to restore economic vitality beyond conflicts in ideology and distrust.“The business community hopes most that the newly elected lawmakers will make collective efforts to stabilize the livelihoods of ordinary citizens and restore the economy mired in a slump as the election result implies,” the Federation of Korean Industries, a business association of conglomerates, said in a statement Thurs
IndustryApril 14, 2016
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Asiana Airlines named top air carrier of 2015 by Incheon Airport
Asiana Airlines, the nation’s second-largest air carrier, was named the top airline of 2015 by Incheon International Airport on Thursday, the airport said.Asiana Airlines took top honors in the over 5-million-passenger category for Airline of the Year. T’way Airlines and Eastar Jet were named best for the 500,000-passenger group.In smaller categories, AirAsia X, Emirates, Delta Airlines, Lao Airlines, Hawaiian Airlines, and KLM Royal Dutch Airlines were named Airline of the Year.At the awards ce
IndustryApril 14, 2016
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Changed political landscape to have limited effect on stock market: analysts
The changed political landscape in the wake of Wednesday’s general election will have a limited impact on the Korean stock market, analysts here said Thursday.The benchmark Korea Composite Stock Price Index rose 1.34 percent to trade at 2007.77 as of 2 p.m. Thursday on China’s better-than-expected March trade data and gains on global stocks the previous day. The tech-heavy KOSDAQ inched down 0.24 percent to mark 691.78 at the time. KOSPI jumps 1.75 percent to close at 2015.93 Thursday. Yonhap Ne
April 14, 2016
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[Photo News] Environment Ministry, Starbucks join hands for coffee recycling
COFFEE RECYCLING - Vice Environment Minister Jeong Yeon-man (second from left) and Starbucks Coffee Korea CEO Lee Seock-koo (third from left) water a plant Thursday after signing an agreement to turn used coffee grounds collected across Starbucks outlets nationwide into eco-friendly compost, animal feed and other repurposed substances for local usage. This year, the two plan to collect roughly 3,500 tons of used coffee grounds for recycling purposes. (Starbucks Coffee Korea)
IndustryApril 14, 2016
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CJ Korea Express expands presence in global cargo delivery market
CJ Korea Express, the shipping unit of South Korean conglomerate CJ Group, is expanding its presence in the global cargo delivery market by securing major deals with clients around the world and partaking in global construction projects. In January, CJ secured a deal with GS Engineering & Construction to deliver its equipment to be used in building the Socar Turkey Aegean Refinery, to the Port of Aliaga in western Turkey, the company said.CJ Korea Express loads up cargo to be shipped to Turkey f
IndustryApril 14, 2016
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Impala sedan production sparks GM labor dispute
Whether to import the popular Impala sedan or manufacture it at home is becoming a seed of labor dispute between GM Korea‘s management and its union.Last week, the Korean unit of U.S. General Motors decided to continue importing Chevrolet’s premium sedan Impala instead of producing them here.But the automaker’s labor union said in its statement that the management’s decision is tantamount to breaking trust between labor and management, warning that the company “will have to pay a huge price for
MobilityApril 14, 2016
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Political risks increasing to economic reform
At a Cabinet meeting a day before Wednesday’s general election, President Park Geun-hye urged voters to cast their ballots to form a “new National Assembly devoted to securing people’s livelihoods and revitalizing the economy.”Park deplored what she described as losses caused by the blocking or delay of the passage of reform bills in the outgoing parliament.The answer from the electorate, who deprived her conservative ruling Saenuri Party of its majority in the 300-member legislature, apparently
April 14, 2016
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Doosan Infracore rebounding on expanded sales
Doosan Infracore, a loss-making construction equipment maker, is witnessing an improvement in its business on the back of increased sales in China and other major markets, industry sources said Thursday.According to sources, Doosan Infracore sold a total of 1,001 excavators in China, the world's largest market for construction equipment, last month to garner 7.6 percent market share there, compared with sales of 828 units, or 6.9 percent, a year earlier.In the first quarter of the year, demand f
IndustryApril 14, 2016
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Korean market for insomnia drugs grows on rising patients
The Korean market for insomnia medications is growing at a fast clip as more people complain of sleep disorders, industry sources said Thursday.According to data by the National Health Insurance Service, 455,900 Koreans received hospital treatment for sleep disorders in 2015, up a whopping 57 percent from five years earlier. (123RF)After breaching the 300,000-mark, the number of people with sleeping problems has spiked more than 40 percent over the past five years, with the annual increase rate
IndustryApril 14, 2016
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Mobile carriers join forces with Naver for app service
Korea's top three mobile carriers will team up with Naver, the country's leading Internet service provider, to launch a unified app store, company officials said Thursday.SK Telecom, KT and LG Uplus already have a combined app retail channel: One Store.A subsidiary of SK Telecom, which manages One Store, has agreed with Naver to consolidate their app services.The new app market scheduled to open in June will use the single brand One Store and it will strengthen its connection with Naver's other
IndustryApril 14, 2016
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Korean retailers boosted by resurgence of Chinese travelers
Korean retailers saw a sharp surge in sales from Chinese travelers who have flocked back this year to popular shopping districts here, fully recovering from last year's slump stemming from the Middle East Respiratory Syndrome (MERS), industry officials said Thursday. Local department stores and duty-free shops had sluggish business last year after the MERS outbreak in May dropped the number of foreign travelers, especially from China. Sales have gradually recovered since late 2015, and they gain
IndustryApril 14, 2016
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Samsung boasts strongest mobile security solution
Tech giant Samsung Electronics’ mobile security solution KNOX has received the highest score among security solutions for mobile operating systems in a series of tests, surpassing rivals including Apple.Samsung received the highest “strong,” rating in market research firm Gartner’s annual report released last week. It assesses 12 mobile security solutions across more than 20 categories including encryption management, authentication methods, and OS updates. A Galaxy S7 user initiates Samsung Ele
TechnologyApril 14, 2016
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Korea's home transactions plunge in March
Korea's home sales plunged 30.4 percent last month from a year earlier amid some signs of a slowdown in the local property market, government data showed Thursday.The number of home transactions reached 77,853 in March compared with a record 111,869 tallied a year ago, according to data compiled by the Ministry of Land, Infrastructure and Transport. Apartment complex in Seoul (Yonhap)It also marked a 9.9 percent drop from a five-year average of 86,000, while it jumped 31.4 percent from the previ
April 14, 2016
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Foreign cigarettes to be sold on Korean military bases for first time
Foreign cigarette brands will soon be sold in post exchange stores on Korean military bases for the first time.Among the four new cigarette lines that were approved for sale in PX stores next year, two were foreign brands. They are Marlboro Gold Original by the American company Philip Morris, and Mevius LSS Wind Blue by Japanese maker JTI, according to sources at the Defense Ministry. “We welcome the decision,” a spokeswoman for Philip Morris told The Korea Herald. “We believe that this will giv
IndustryApril 14, 2016
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MBK pushes for sale and leaseback of Homeplus
MBK Partners, a Seoul-based private equity fund, is pushing to sell some Homeplus stores and lease them back to help repay its debts that are nearing maturity, industry sources said Thursday. In October last year, MBK bought Homeplus, the Korean unit of British retail giant Tesco, for 7.2 trillion won ($6.3 billion). To deal with near-term maturities, MBK has chosen Standard Chartered Bank Korea as the lead manager for the leaseback arrangement of Homeplus, South Korea’s No. 2 discount retail ch
IndustryApril 14, 2016
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[Photo News] Samsung quantum-dot TV debuts in U.S.
SAMSUNG QUANTUM-DOT TV DEBUTS IN U.S. -- Visitors look at Samsung Electronics’ second-generation SUHD TVs at the launch event held Tuesday at the company’s Marketing Center of Excellence in New York. Based on Samsung’s quantum-dot technology, the new models offer more accurate and vibrant picture quality compared to traditional liquid crystal display TVs. (Samsung Electronics)
TechnologyApril 14, 2016
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Luxury German car sales hit record high of W8.8tr in 2015
Sales of three luxury German carmakers -- Mercedes-Benz, BMW and Audi --set a record high of 8.8 trillion won ($7.6 billion) in sales last year, exceeding the combined figures of three smaller Korean automakers, excluding Hyundai and Kia, company data showed Thursday. Among foreign car brands here, sales of Mercedes-Benz were tops last year, soaring up to a record high of 3.1 trillion won in 2015, a 42.5 percent increase from a year ago.BMW and Audi followed with a 2.88 trillion won and 2.8 tril
MobilityApril 14, 2016
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[Market Now] Webzen shares up on board chairman’s election win
Shares in Webzen, a local online game developer, were trading higher on Thursday morning on the victory of its former CEO and current board chairman in Wednesday’s parliamentary election. Kim Byung-kwan, a veteran game entrepreneur who ran Webzen as CEO until June 2012, won a parliamentary seat on the ticket of the main opposition party, becoming the first game-industry figure ever to enter the 300-member National Assembly. During his campaign, Kim said, if elected, he would push to ease regulat
April 14, 2016
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[Market Now] AhnLab shares up on founder’s election victory
Shares in AhnLab, a security software provider, rallied on the Seoul bourse on Thursday morning, buoyed by a boost in political fortunes of its founder Ahn Cheol-soo in Wednesday’s elections. As of 10:35 a.m., the shares were trading at 74,100 won, 5.41 percent higher than the previous close. Ahn Cheol-soo (Yonhap)Ahn, a doctor, venture entrepreneur-turned politician, is the largest shareholder in the firm, with an 18.57 percent stake. His People’s Party has emerged as the third-largest negotia
April 14, 2016