Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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Seoul alerts overseas missions to NK terror threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Ssangyong to launch diesel model of Tivoli in June
Ssangyong Motor Co., owned by India's Mahindra & Mahindra, plans to launch the diesel version of its popular Tivoli compact sport utility vehicle in June for overseas sales, a high-ranking company official said Tuesday. The domestic sales of the new Tivoli model will start in July and its long-body version will also be unveiled next year, according to Ha Kwang-yong, an executive director in charge of production and quality at its main factory in Pyeongtaek, some 70 kilometers south of Seoul. "
MobilityMay 19, 2015
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S. Korea emerges key market for YouTube: official
U.S.-based YouTube, a global video-sharing site marking its 10th anniversary this year, said Tuesday South Korea has become one of its key markets, expecting further growth in the local online video streaming market on the back of the mobile-ridden local users. The U.S. video-sharing giant started its Korean-language service in 2008. "Korea has always been an exciting market for us. It was one of the first countries we launched in. And the success we have seen here is great. We have seen an
TechnologyMay 19, 2015
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Global shipments of Galaxy S6 series top 10 mln
South Korea's top tech giant Samsung Electronics Co. said Tuesday its global shipments of the latest flagship Galaxy S6 models surpassed 10 million units in about one month after their release. "The sales of the Galaxy S6 series have already surpassed 10 million," a high-ranking Samsung official said. It marked the first time for the company to confirm the sales figure of the latest flagship. The Galaxy S6 boasts Samsung's first built-in wireless-charging batteries. The offbeat Galaxy S6 Edge
TechnologyMay 19, 2015
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LG to release new mid-end G4 lineup
LG Electronics Inc. will roll out two mid-tier smartphones that were spun off from its flagship G4 in global markets starting later this month, the company said Tuesday, as it seeks to bolster overseas sales of the latest models. The G4 Stylus, which touts a slightly larger screen of 5.7 inches than the 5.5-inch G4, will hit shelves in North America, Europe, and Central and South America starting in late May, LG said in a statement. It comes with a rubber pen accessory that helps consumers s
TechnologyMay 19, 2015
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Gov't warns of possible nicotine overdose thru use of e-cigarettes
The South Korean government warned of a possible overdose of nicotine for those who smoke electronic cigarettes Tuesday, while ordering a recall of 10 e-cigarettes over defective power cord plugs that may cause a fire or electric shock. The 10 electric cord plugs of e-cigarettes subject to a recall contain a defective electrical insulator that may break down when exposed to an alternating current of over 3,000 volts, according to the Ministry of Trade, Industry and Energy. All 10 products are
TechnologyMay 19, 2015
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Finance minister urges companies to create decent jobs
Businesses should take a leading role in supporting sustainable development goals by providing decent jobs, investing in environmental protection and combating corruption, South Korea's top economic policymaker said Tuesday. Speaking at the Korea Leaders Summit hosted by the United Nations Global Compact in Seoul, Choi Kyung-hwan called on companies to move to incorporate key social values and protect the rights of consumers and employees. "Decent jobs are the best kind of welfare, with a rise
May 19, 2015
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SK Telecom joins race for data-oriented rate plan
SK Telecom Co., South Korea's top mobile carrier, said Tuesday it will start selling a new rate plan that offers unlimited calls and text messages and charges only based on the amount of data that subscribers use, joining the race with two local rivals as mobile trends shift to data-focused services. The mobile carrier said in a statement that it will start selling the new data-oriented rate plan nationwide Wednesday. The announcement came a week after smaller rival LG Uplus Inc. rolled out
CompaniesMay 19, 2015
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AmorePacific chief 2nd best performer among global stock
The chief of AmorePacific Inc., South Korea's leading cosmetics maker, saw his stock asset value rise at the second fastest pace this year among billionaires around the globe, as the company's stunning performance in China drove up its shares, data showed Tuesday. Suh Kyung-bae's stock assets were estimated at US$10.63 billion as of Monday, up 93.3 percent from the beginning of this year, to jump 63 notches to rank 122nd place, according to Forbes Billionaire List. Suh has became South Korea
IndustryMay 19, 2015
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[Newsmaker] Lone Star suit weighs heavily on Seoul
The ongoing suit over a multibillion-dollar investment compensation against U.S. private equity firm Lone Star is a battle with no retreat for the South Korean government, which has much to lose.The $4.7 billion dispute settlement has so far cost 24 billion won ($22 million) in litigation expenses, and the amount is expected to escalate further in upcoming years, now that the hearing has kicked off.Much to Seoul’s concern, however, the legal dispute is currently in a deadlock, with no conspicuou
May 18, 2015
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Alibaba launches exclusive Korean sales channel
China’s e-commerce giant Alibaba Group has launched an exclusive sales channel for Korean products on its B2C platform T-mall as part of its expansion of business ties with the Korean government, the Finance Ministry said Monday.Deputy Prime Minister and Finance Minister Choi Kyung-hwan and Alibaba founder & CEO Jack Ma reached the agreement on enhancing bilateral partnership in the logistics sector during their meeting at the state-run aT headquarters in southern Seoul.The items available on th
May 18, 2015
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Hyundai Motor names former Samsung exec as IT chief
Hyundai Motor Group, which owns Hyundai Motor and Kia Motors, said Monday it has promoted senior vice president Hwang Seung-ho as the carmaker’s new IT chief. Hwang, a former Samsung Electronics executive, joined Hyundai last year and has led the development of the carmaker’s Bluelink telematics systems and related services. As the new head of Hyundai’s automotive IT development center, he is expected to oversee key projects, including the commercialization of its self-driving car technology. Hi
TechnologyMay 18, 2015
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Oceans minister promotes cruise industry
Oceans and Fisheries Minister Yoo Ki-june will visit Shanghai on Wednesday to host a sales and marketing event targeting Chinese travel agencies and port operators to attract more Chinese cruise travelers to Korea. “During the three-day visit, the minister will also make a presentation on policy changes and efforts for the nation’s cruise industry development in details,” said Kim Sang-ki from the marine policy department at the ministry.According to the ministry, it is the first time for the So
IndustryMay 18, 2015
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Samsung, LG increase R&D spending
South Korean tech giants Samsung Electronics and LG Electronics have been ramping up efforts to find new cash cows with their quarterly R&D expenditure-sales ratio reaching an all-time high during the January-March period this year, according to their quarterly reports released Monday.Despite a sales decrease in the first quarter this year ― from 54 trillion won in the first quarter last year to 47 trillion won ― Samsung spent 3.8 trillion won ($3.5 billion) for R&D. This only slightly down from
TechnologyMay 18, 2015
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Olympus Korea launches new CSR program for young patients
Olympus Korea announced Monday a new corporate social responsibility program, “I am Camera,” to support art activities of young patients at hospitals. Starting at Yonsei University’s Severance Hospital, the 10-week program will tour four hospitals this year. Artists and photographers will join to help young patients express themselves and explore diverse subjects through photography. “We hope participating students broaden their perspective outside the hospital and have a fresh opportunity to co
TechnologyMay 18, 2015
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POSCO bets on India as next growth engine
POSCO, South Korea’s largest steelmaker, is betting on India to fuel its growth.POSCO said it is ramping up efforts to develop more infrastructure and operations at the India office, aiming to meet the needs of the country’s rising demand for locally produced steel. POSCO India recently reshuffled its unit and integrated local offices to focus on “glocalization,” a practice of adapting a product or service specifically to each region or culture. The move is in line with POSCO CEO Kwon Oh-joon’s
IndustryMay 18, 2015
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FSC to ease restrictions on opening bank accounts
South Korea’s top financial regulator said Monday that it will allow customers to open bank accounts without physically visiting brick-and-mortar offices from later this year as part of efforts to ease regulations on the financial industry and boost financial technology, or fintech.Under the current financial laws, local financial institutions must identify the name of an individual who opens a bank account by checking their identification cards and signatures in person.The Financial Services Co
May 18, 2015
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Airlines to hike fuel surcharge for int'l flights
South Korean air carriers are planning to raise fuel surcharges for international flights in June in tandem with a recent hike in jet oil prices, industry sources said Monday. Korean Air Lines Co. and Asiana Airlines Inc. -- the country's two top flight operators -- will hike the surcharge to $37 for one-way flights to the United States next month from the current $15, according to the sources. The extra fees on flights for Europe and Africa will go up to $36 in June from $15, while those to
IndustryMay 18, 2015
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Alibaba launches shopping platform in S. Korea
Chinese e-commerce giant Alibaba Group on Monday opened a shopping platform in South Korea that promises local companies a chance to make headway in the world's second-largest economy, the government said. The launch of the business-to-consumer Tmall shopping platform is aimed at selling South Koreans agricultural and manufactured goods as well as tourism-related services, benefiting local companies, the finance ministry said. "Alibaba has pledged to provide comprehensive marketing and consult
IndustryMay 18, 2015
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Daewoo Shipbuilding wins oil tanker deal from Greece
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. said Monday it has signed a deal to build two oil tankers for a Greek firm. Under the agreement with Maran Tankers Management, a unit of Greece's largest shipper, Angelicoussis Shipping Group, Daewoo Shipbuilding plans to deliver the tankers by early 2017, the company said in a press release. The financial terms of the contract were not disclosed. Daewoo Shipbuilding said it also signed a separate deal with Angelicoussis
IndustryMay 18, 2015
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S. Korea asks China's Hebei to cut red tape for Hyundai Motor
The South Korean Ambassador to China, Kim Jang-soo, Monday asked the northern Chinese province of Hebei to cut red tape and make it easier for Hyundai Motor Co. to build a new car plant in Hebei. Kim made the remarks at a meeting with Hebei's Communist Party chief, Zhou Benshun, earlier in the day on the sidelines of an investment fair hosted by the Chinese province, according to a statement released by the South Korean Embassy. Hyundai began construction of its fourth plant in the Chinese c
MobilityMay 18, 2015