Most Popular
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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Fears of capital outflow may be overblown
With U.S. interest rates soon expected to enter an upcycle from the current near-zero levels, emerging markets have already seen a sizable outflow of global capital, with Korea being among the most affected, recent data shows. Yet, local financial authorities and some economists are playing down the probability of a massive capital flight from Korea, citing a moderate pace expected in the U.S. monetary tightening and Korea’s relatively sound economic fundamentals.“Even if the U.S. Federal Reserv
Dec. 13, 2015
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Will Samsung make car again?
The announcement that Samsung Electronics would set up a separate team to develop electric car components used for Internet-connected and self-driving cars last Wednesday has ignited an interesting debate on whether the nation’s tech giant will try to build a car again or not. Samsung had entered the automotive business by setting up Samsung Motors in 1994, but exited from the sector in 2000 after selling the auto arm to French automaker Renault due to mounting losses. “It is a possible scenario
MobilityDec. 13, 2015
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Korea far from per capita GDP goal of $30,000
With the year 2015 drawing to an end, Korea finds itself still distanced from achieving the long-awaited goal of $30,000 per capita gross domestic product. In fact, the country is seen to remain farther from the landmark figure this year than last year.All major economic organizations and research institutes at home and abroad forecast that Korea’s per capita GDP in 2015 will drop below the 2014 level, marking the first decrease since 2009 when the nation was struggling to contain the fallout fr
Dec. 13, 2015
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Pinning responsibility for self-driving car accidents
With local carmakers and electronics giant Samsung jumping into autonomous car business along with the government’s plan to commercialize the sector by the year 2020, interest is growing over one tricky matter: who will be held responsible for accidents involving such vehicles? Automated vehicle is a revolutionary concept in motoring as the human drivers take a backseat while the computerized machine, instead, takes control of navigation. But the question of liability for accidents involving dri
IndustryDec. 13, 2015
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Foreign car brands face more consumer complaints than domestic rivals: report
Foreign car brands have received about twice as many consumer complaints as their domestic counterparts over the past six years, with Volkswagen and Audi at the top of the list, according to analysis by the Korea Consumer Agency on Sunday. For every 10,000 cars sold, the five top-selling imported automakers -- Volkswagen, Audi, BMW, Mercedes-Benz and Toyota -- saw an average of 10.9 cases of consumer dissatisfaction from January 2010 to November 2015, according to a KCA report submitted to Rep.
MobilityDec. 13, 2015
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SK, creative economy center seek start-ups for Middle East market
SK Group and the Daejeon Creative Economy Innovation Center plan to select and support start-ups seeking to enter the Middle East market, group officials said Sunday.The conglomerate and the center, which was jointly established by SK and the government in Daejeon, held a contest last month for start-ups and small and medium-sized enterprises wishing to enter the Middle East market and are currently in the process of selecting the final candidates.The project first started when President Park Ge
IndustryDec. 13, 2015
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Korea, Taiwan sign deal to cooperate in ETF market
Stock bourse operators of South Korea and Taiwan have signed a tentative deal to cooperate in the exchange traded funds area, Seoul officials said Sunday. An ETF refers to an investment fund traded on stock exchanges and represents a basket of stocks that reflects an index, which provides retail investors and institutions with a more liquid and risk-hedging tool. The Korea Exchange, South Korea's stock bourse operator, said that it signed a memorandum of understanding with its Taiwanese counte
Dec. 13, 2015
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Over half of biz in Korea seek belt-tightening management next year: poll
More than half of business leaders in South Korea are seeking "belt-tightening" management next year amid gloomy outlooks for overall economic conditions, a poll showed Sunday. According to the poll of CEOs of 235 businesses by the Korea Employers Federation, a business lobby, 52.3 percent answered they will carry out the belt-tightening management next year. Of those polled, 32 percent said that they will maintain the "status quo," while only 17.4 percent answered that their management will
Dec. 13, 2015
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Korea's exports to grow slower than global average this year
South Korea's exports will likely grow at a slower pace than the global average for the second straight year in 2015, a state-run think tank said Sunday, pointing to unfavorable overseas market conditions facing many Korean companies. According to the Korea Development Institute, South Korea's exports in terms of volume are expected to remain unchanged from a year earlier. This will be lower than the 3.2 percent gain that the International Monetary Fund is projecting for this year. It would
Dec. 13, 2015
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Hyundai, Kia consider higher sales target next year: industry sources
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. are considering hiking their annual sales target by 100,000 for next year despite tough global market conditions, industry sources said Sunday. Company officials, however, said that nothing has been decided, adding that they need more time to finalize their 2016 business plan. According to industry sources, the two South Korean carmakers internally have decided to sell around 8.3 million units at home and abroad next year. The figure
IndustryDec. 13, 2015
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Seoul market to face eased uncertainty after Fed meeting
South Korean stocks are expected to enjoy a short-term rebound next week as uncertainty could be reduced after the Federal Reserve's rate-setting meeting, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 1,948.62 on Friday, down 1.3 percent from a week earlier. This marked the second straight week of declines. (123rf)The heightened possibility of a U.S. rate hike and worries over the low crude oil prices weighed on investor sentiment. Foreign investors led
Dec. 12, 2015
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[Photo News] LG runs campaign for environment with UNESCO
LG’S UNESCO CAMPAIGN -- Participants of the 2015 United Nations Climate Change Conference COP21 watch LG Electronics’ organic light-emitting display TV featuring royal penguins on Macquarie Island, Australia. The South Korean tech giant ran a campaign with UNESCO to raise awareness of natural assets and endangered species at the conference held from Nov. 30 to Friday.(LGE)
TechnologyDec. 12, 2015
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Samsung’s top execs to meet next week
Samsung Electronics said Friday it will hold a global strategy conference with its top executives from regional branches overseas and business unit heads in Korea next week under the theme of “businesses in a low-growth era.” The company’s vice chairman Lee Jae-yong and three chief executives ― Kwon Oh-hyun, Yoon Boo-keun and Shin Jong-kyun ― will join the conference, which is regularly held twice a year.Attention is being paid to whether the top Samsung executives in the conference would discus
TechnologyDec. 12, 2015
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Top LG executive acquitted of vandalizing Samsung washers
The Seoul Central District Court on Friday acquitted LG Electronics’ home appliance and air solutions CEO Jo Seong-jin and his two aides on charges of wrecking washers of rival company Samsung Electronics, citing a lack of evidence.Samsung filed lawsuits earlier this year against Jo and a top executive for damaging its washing machines at the SATURN Berlin Europa-Center and SATURN Berlin Steglitz in Germany during the IFA trade show in September last year. Another public relations executive was
TechnologyDec. 12, 2015
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[Weekender] Airports turn to wining, dining, shopping destinations
Lotte Duty FreeIf you’ve viewed airports as just places to board and disembark airplanes, you may want to do more from now. International airports are transforming into great places to shop and dine. Visiting the duty-free sections has become one of the most-anticipated parts of traveling to Korea. About 45 million visitors spent about 2.1 trillion won ($1.78 billion) at the Incheon International Airport last year, the highest amount in the world.From the world’s first Louis Vuitton store to glo
IndustryDec. 11, 2015
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IMF warns of Korea’s household debt
Korea’s fast-growing household debt increases potential threats for a credit cut and repercussions from future rate hikes, economists of the International Monetary Fund said Friday. In the aftermath of the global financial crisis, the steep increase in household and corporate debt in the Asian private sectors accelerated growth, but with potential aftereffects. “If the debt keeps going up, it can become a major risk for the Asian economies, which calls for (government) interventions to downsiz
Dec. 11, 2015
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[Weekender] Hidden places at Incheon Airport raise customer loyalty
Jordan Reinhart, 26, and her fiance from Canada arrived at South Korea’s Incheon International Airport on Tuesday morning, exhausted and ready to head back home after spending their winter vacation in Bali. With a nine-hour layover ahead, the couple had originally planned to step out of the airport to explore Seoul for the day, but decided against the idea because of issues concerning their credit cards.Though initially worried about how they would spend those long hours, staying inside the airp
IndustryDec. 11, 2015
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[Weekender] Airports as cultural, commercial destinations
International passengers wait for their flight at the departure terminal at Ihcheon Airport. Incheon AirportKim Young-chul, 37, an engineer for a shipbuilding company, often visits Incheon International Airport, South Korea’s main gateway, with his family. But he comes here not only for travel, but for family activities as well. “For my two daughters, the airport is a fun and dynamic place packed with people from around the world. When we visit the airport, we often spend a few hours there, whil
IndustryDec. 11, 2015
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[Weekender] Speed, convenience are behind Incheon Airport’s service crown
Long queues of people, unpleasant hours of waiting for check-in and later sprinting to the gate to clear immigration in time for the flight ― these are common bugbears of using a busy airport.Though bustling with some 134,000 travelers a day, check-in delays are rare on a regular day at South Korea’s award-winning Incheon International Airport, which prides itself on offering users the fastest and most convenient services in the world.The arrivals hall at Incheon International Airport (Incheon I
IndustryDec. 11, 2015
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[Weekender] Race on to be Asia’s top air hub
Competition among Asian air hubs is heating up as countries in the region are scurrying to build new airports, add runways and expand passenger terminals to become the continent’s top gateway to the world.With surging air travel and burgeoning budget carriers, major airports in South Korea, China, Japan, Singapore, India and Thailand are increasing capacity to meet demand.“Asian countries are showing a significant growth in air travel, higher than the global average, amid their continued economi
IndustryDec. 11, 2015