Most Popular
-
1
Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
-
2
Doctors' group picks new leader amid tense standoff over increased enrollment quota
-
3
Seoul bus drivers go on general strike, cause morning rush hour delays
-
4
Official campaigning kicks off for April 10 elections
-
5
Dialogue hopes fade as doctors pick hard-liner as new head
-
6
Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
-
7
[Election Battlefield] Political novice to face off star politician in ‘swing district’
-
8
Korea enters full election mode
-
9
[Kim Seong-kon] The April 2024 election will decide our future
-
10
Seoul’s bus union prepares for strike
-
SKT, Samsung to build IoT hub
Korea’s largest network operator SK Telecom said Monday it will team up with Samsung Electronics to build the Internet of Things test bed in Daegu, in their efforts to vitalize the local start-up sector and the nation’s sagging economy.The two partners further plan to transform the whole city into a state-of-the-art IoT hub where they will deploy their up-to-date network systems and connected technology.(From left) Kim Young-ky, president of Samsung Electronics’ network business, Lee Young-hee,
TechnologyMarch 28, 2016
-
With Me stores roll out 500-won coffee
With Me, Shinsegae Group‘s convenience store chain, has rolled out a new line of coffee priced at 500 won (43 cents) per cup, the cheapest takeout coffee ever, the company said Monday.Labeled “Take 1,” the line is the latest development in the fierce competition over low-cost takeout coffee among convenience store chains in Korea. Convenience store coffee (Yonhap)The three major convenience store chains in Korea -- CU, GS25 and 7-Eleven -- all offer takeout coffee priced between 1,000 and 1,200
IndustryMarch 28, 2016
-
Korean shares edge down amid uncertainty over Fed policy
Korean stocks closed slightly lower Monday as investors took to the sidelines ahead of the Fed chair's speech that could provide clues to the U.S. central bank's monetary policy, analysts said. The local currency gained ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) shed 1.27 points, or 0.06 percent, to close at 1,982.54. Trade volume was moderate at 405.98 million shares, with losers beating winners 479 to 330.The market opened higher, but the gains were
March 28, 2016
-
Hyundai Motor promotes investment roadmap to U.S. lawmakers
Hyundai Motor Group chairman Chung Mong-koo and other high-ranking officials presented the firm’s investment and research & development roadmaps for future mobility to a visiting U.S. congressional delegation, the Korean automotive giant said in a statement Monday. The five-member delegation led by Sen. Deb Fischer visited the Namyang R&D Center of Hyundai Motor Group, the heart of the Korean auto giant’s new car design and development. Other members included Sen.Thad Cochran, Sen. John Barrasso
MobilityMarch 28, 2016
-
Chairman’s leadership behind Hyosung’s record earnings
Hyosung Group chairman Cho Suck-rae’s leadership and vision helped the spandex-maker garner record earnings last year, company officials said Monday. “Hyosung’s spandex business, which generated more than 40 percent of total operating profits last year, is the outcome of chairman Cho’s strong tenacity in developing the synthetic fiber,” a company official said. Hyosung’s researchers conduct an experiment on polyketone material. (Hyosung)He recalled that Hyosung had to struggle for seven years an
IndustryMarch 28, 2016
-
Eximbank, Innovation Center to support start-ups
The Export-Import Bank of Korea and the Center for Creative Economy and Innovation in Seoul have joined forces to support start-ups to become global exporters in the fields of cosmetics, biotechnology, fashion and food.The state-run export financing bank said in a press statement Monday that it would provide financial consulting to Korean start-ups developing their businesses in those fields. The innovation center will do its part, and help and recommend start-ups to the Korea Eximbank for finan
March 28, 2016
-
Sony Korea offers filming class for young students
Sony Korea on Saturday held a filming class for young students as part of its ongoing social responsibility activities here. The Korean unit of the Japanese tech giant has carried out diverse science education programs under the name of “Sony Korea Eco Science School.”This year’s program, the 10th of its kind, taught basic filming skills for young students to create their own video contents using Sony’s broadcast cameras. A group of 20 students from underprivileged families in Incheon were invit
TechnologyMarch 28, 2016
-
[Market Now] Will Franklin Templeton exit monetary stabilization bonds?
To hold or not to hold Korea’s monetary stabilization bonds? -- this will be the question the local capital market will be asking foreign asset manager Franklin Templeton Investments this week.Korea’s MSBs worth 1 trillion won ($860 million) held by Franklin Templeton will mature on April 2, and it remains to be seen whether the asset manager will roll over, or redeem and exit its investment. The Bank of Korea issues MSBs to control market liquidity as part of its open market operations.Citing p
March 28, 2016
-
LG Signature raises bar for premium appliances
LG Electronics on Monday launched its ultra-luxury appliance brand, LG Signature, in Korea before its planned debut in the U.S. and Europe. Combining the best design and functions, the Korean tech giant showed confidence in raising the standards in the soaring premium home appliance market. (From left) LG Electronics’ home appliance chief Cho Seong-jin, TV chief Kwon Bong-suk, domestic sales chief Cho Sang-kyu and chief technology officer Ahn Seong-kwon pose with the company’s LG Signature line
TechnologyMarch 28, 2016
-
Korean Air, Jin Air to share six more routes
Korean Air and its budget carrier affiliate Jin Air will have six more codesharing routes to offer passenger convenience, Korean Air said Monday.Starting Monday, Korean Air will codeshare with Jin Air on flights from Incheon to Clark in the Philippines, Hanoi in Vietnam, Honolulu in Hawaii and Taipei, as well as flights from Busan to Cebu in the Philippines and Da Nang in Vietnam. The two air carriers will share ticket sales on the same route through a codeshare agreement. On codeshared flights,
IndustryMarch 28, 2016
-
[KOSDAQ Star] Valuation worries weigh on Medy-Tox
This is the fifth in a series of articles analyzing the top 10 companies by market capitalization traded on the tech-heavy KOSDAQ market. --Ed.With a growing population seeking noninvasive cosmetic procedures, dermal filler and Botulinum toxin-maker Medytox has been bolstering its presence in Korea and abroad. The biopharmaceutical company, which manufactures and distributes an injectable neurotoxin for cosmetic use, posted a whopping 60.9 percent surge in annual operating profits last year, out
March 28, 2016
-
[Graphic News] Chicken, beer in Korea cheaper than overseas
The prices of chicken and beer in Korea are relatively cheaper than other countries, said local reports on Monday.The market price of a 500 ml-bottle of locally produced beer is $1.69, considerably lower than those sold in the Maldives and United Arab Emirates where it costs $7.19 and $6.63, respectively. These figures are from a recent survey by numbeo.com, a crowdsourced database of the prices of goods around the world. Korean beer ranks 40th in terms of market price around the world. Germany
IndustryMarch 28, 2016
-
Outback Steakhouse back on auction block
Outback Steakhouse, the Australian-themed U.S. restaurant chain that led the American-style dining boom in Korea in the mid-1990s, is seeking an exit from Korea after 19 years of business here, local reports said. The U.S. Nasdaq-listed Bloomin‘ Brands, which owns the chain, will open preliminary bids for Outback Steakhouse Korea, with HSBC as its deal advisor. Outback Steakhouse Korea in 2014 ran nearly 110 restaurants across Korea, but the store count has now reduced to less than 70, suffering
March 28, 2016
-
SK Planet’s n11.com tops online marketplace in Turkey
E-commerce platform n11.com, operated by a subsidiary of leading mobile operator SK Telecom, topped the online market in Turkey in 2015, the Korean company said Monday.SK Planet, which owns the online marketplace 11st.com here, launched the Turkish version of the site in March 2013. n11.com, SK Planet’s online marketplace in Turkey (SK Planet)“As a latecomer to the industry, we faced tough competition and lacked infrastructure, but we armed ourselves with the mindset of a start-up in the e-comme
IndustryMarch 28, 2016
-
Financial reform and risk management
This is the ninth in a monthly series contributed by executive members of the Financial Supervisory Service to address key ongoing financial issues. ― Ed.In 2015, financial reforms and risk management emerged as a major issue in Korea’s financial industry.Most said that Korea’s real economic sector has significantly expanded, but the financial sector does not have the corresponding scale and capacity. And it has been pointed out that competitiveness of the financial sector should improve for sus
March 28, 2016
-
Celltrion close to finalizing European sales partners for new biosimilars
South Korean biosimilar developer Celltrion said Monday it is close to striking deals with multiple partners in Europe to lead the local marketing and sales of two new biosimilar drugs, ahead of their expected sales approval in the region later this year. The announcement is aimed at “alleviating uncertainties” over the sales prospects of Celltrion’s biosimilar copies of blockbuster biologic treatments Rituxan (rituximab) and Herceptin (trastuzumab), the firm told The Korea Herald.Truxima, Cellt
IndustryMarch 28, 2016
-
KEPCO, AmorePacific shoot up in market cap ranking
Korea’s state-run utility firm Korea Electric Power Corp. and top cosmetics-maker AmorePacific saw their rankings of market capitalization shoot up among listed companies on the KOSPI this year, on the back of lowered costs on cheap oil and the global popularity of “K-Beauty” products, industry data showed Monday.According to data by the Korea Exchange, KEPCO’s market cap gained 17.8 percent on-year to 37.81 trillion won ($32.27 billion) as of March 23, rising to No. 2 in the KOSPI ranking from
March 28, 2016
-
Hanmi Global chief joins 100 best-performing CEOs in Korea
The head of Hanmi Global, a construction management company, joined the list of the 100 best-performing CEOs in Korea released by business magazine Maekyung Economy. He has been named on the list for 11 straight years.Chairman Kim Jong-hoon, who adopted construction management programs for the first time in Korea in 1996, has gained a reputation for growing the company into a leading construction management firm with a global presence in 48 nations. Hanmi Global’s chairman Kim Jong-hoonKim is
IndustryMarch 28, 2016
-
KKR chosen as preferred bidder for Kim’s Club
E-Land Group has chosen U.S. private equity giant KKR as the preferred bidder for Kim’s Club, a 37-branch hypermarket franchise with annual revenue of around 1 trillion won ($860 million), it said Monday. “KKR was most willing to invest in Kim’s Club,” the Korean retail group said. The two sides aim to sign a final contract in early May, the group said. KKR, one of the world’s biggest buyout funds, is to commence due diligence on Kim’s Club.The deal, if sealed, would mark the second major takeov
March 28, 2016
-
Won-dollar exchange rate takes roller-coaster ride
The won-dollar exchange rate has taken a roller-coaster ride this year, with uncertainty high over its future course. This increasing volatility -- which reflects a complex set of external and internal conditions affecting the country’s economy -- makes it tougher for policymakers to mobilize means to boost growth and for companies to draw up business plans.The rate rose to 1,238.8 won per dollar on Feb. 25, up 66.3 won from where it was at the start of the year, marking the highest level in fiv
March 28, 2016