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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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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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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Key suspects grilled over alleged abuse of power in Marine death inquiry
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[Photo News] Kia's camping event
Kia Motors will hold an Auto Camping Festival inviting 320 teams of customers who will camp and enjoy outdoor activities at the Chungju Camping World in North Chungcheong Province on four occasions in June. A tuning car contest looking out for the best modified Kia car owner will also be held. Those interested should visit www.kia.com.
MobilityMay 17, 2015
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[Photo News] Renault Samsung to hold QM3 fan meeting
Renault Samsung Motors will hold the QM3 Fan Meeting in the heart of Seoul on Saturdays and Sundays in May. The exact time and location will be posted on the firm’s Facebook page, facebook.com/renaultsamsungM. Professional drivers will drive QM3s and those who take pictures of the vehicles and register them on the Facebook page will receive coffee coupons.
MobilityMay 17, 2015
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[Photo News] Hyundai holds motor festival
Hyundai Motor will hold the Brilliant Motor Festival 2015 on May 23-24 at the Songdo Urban Circuit in Incheon. The festival will consist of a Hyundai car exhibition, experience programs, concerts and customer consultations alongside a 2.5-kilometer racing circuit. For more information visit brand.hyundai.com/ko/live-brilliant/experience/brilliant-motor-festival.do.
MobilityMay 17, 2015
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[Photo News] Jaguar service center in Yangjae
Jaguar Land Rover Korea has opened a new service center in Yangjae-dong, Seoul, which is capable of repairing 40 cars a day at its nine work bays. For owners waiting for their cars to be attended to, a professional masseuse and various entertainment programs will be provided at the center.
MobilityMay 17, 2015
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[Photo News] Mercedes star-class experience day
Mercedes-Benz Korea held the “StarClass Experience Day” at its Suwon showroom, where people can drive and buy Mercedes-approved used cars for sale. The products have undergone 178 thorough tests, have been driven less than 100,000 kilometers or for less than four years without any accidents. The program also guarantees free repairs for 12 months and other financial support.
MobilityMay 17, 2015
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POSCO to finalize cooperation deal with Saudi fund
POSCO Co., South Korea's largest steelmaker, likely will sign a comprehensive cooperation deal with South Arabia's sovereign wealth fund next month that includes the sale of a stake in its construction unit, industry sources said Sunday.POSCO was supposed to complete the deal with the Public Investment Fund earlier last month to sell a 38 percent stake in POSCO Engineering & Construction for about $1 billion. The process, however, has been in limbo since the prosecution launched an investigation
May 17, 2015
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Hyundai, Kia rank 2nd in U.S. hybrid car market in April
Hyundai Motor Co. and its affiliate Kia Motors Corp. rose to No. 2 in market share in the U.S. hybrid vehicle sector last month, a U.S. eco car review website showed Sunday.According to the website (www.hybridcars.com), the two Korean carmakers sold a combined 3,373 units of hybrid cars in the U.S. last month. Hyundai sold 2,481 units of the Sonata hybrid, while Kia sold 892 units of the K5 hybrid.Their combined market share in the U.S. stood at 10.4 percent last month, which is 0.3 percentage p
MobilityMay 17, 2015
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S. Korea suffers kimchi trade deficit due to surging Chinese
South Korea has suffered a growing deficit in the trade of kimchi, the traditional Korean side dish, in the past few years due to the influx of Chinese products, data showed Sunday. The deficit stood at $84.09 million over the past five years in April, according to the statistics by the Korea Customs Service. South Korea imported 212,938 tons of kimchi worth $104.3 million last year while exporting 24,742 tons valued at $84 million. About 99 percent of the imported kimchi came from China.Industr
IndustryMay 17, 2015
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LG Chem to supply electric vehicle batteries in China
LG Chem Ltd., South Korea's leading chemical and battery maker, said Sunday that it has signed a deal to supply electric vehicle batteries to a major SUV company in China. Under the deal signed with Great Wall Motor, LG Chem will supply batteries for plug-in electric SUV models that the Chinese company plans to produce starting in 2017. LG Chem did not disclose when it signed the deal along with other detailed terms of the contract. Established in 1984, Great Wall Motor is the No. 1 company in C
IndustryMay 17, 2015
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Samsung's market share in mobile phones down in Q1
South Korea's tech giant Samsung Electronics Co. saw its global market share in the mobile phone sector drop slightly during the first quarter of this year but its shares in the DRAM, TV and display areas improved, a report showed Sunday.According to the report by Samsung Electronics detailing its business performance for the first quarter, its share in the global mobile phone sector stood at 22.2 percent during the January-March period, down from the previous year's 22.4 percent.The figure incl
May 17, 2015
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S. Korea to expand overseas investment amid excessive surplus
South Korea will likely unveil measures to boost its outbound investment to make use of accumulated dollars and reduce possible risks from the excessive current account surplus, government sources said Sunday.In March, South Korea's current account surplus jumped 41.9 percent on-year to $10.39 billion, the 37th consecutive surplus since March 2012. The Bank of Korea earlier projected a record high of $96 billion in the current account surplus for this year mainly thanks to lower crude oil prices
May 17, 2015
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Another BOK rate cut still possible: analysts
SEOUL (Yonhap) -- South Korea's central bank may trim its base rate either in June or July due largely to a slowdown inthe recovery pace of Asia's fourth-largest economy, analysts said Saturday.In a widely expected move, the Bank of Korea (BOK) left its benchmark interest rate unchanged at a record low of 1.75 percent for a second straight month in May, citing expectations for an economic recovery and soaring household debt.While sustaining its view that "the economy will show a modest trend of
May 16, 2015
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First hearing opens over Lone Star asset sell-offs in Korea
An international tribunal began hearing a multi-billion dollar case Friday that the U.S. private equity firm Lone Star filed against South Korea's government over tax and other disputes surrounding its asset sell-offs in Korea. The case is the latest -- and the biggest -- of a series of legal battles involving Lone Star's investments in South Korea, including the 2003 purchase of a controlling stake in Korea Exchange Bank (KEB), and its sell-off of those assets for large margins. Lone Star i
May 15, 2015
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POSCO revs up reform drive amid alleged graft
South Korea's top steelmaker POSCO Co. has shifted into emergency mode as the company strives to tide over what it sees as its biggest-ever crisis triggered by a prosecution investigation into a series of corruption allegations. With the probe in full swing, POSCO announced Thursday the launch of an emergency management reform committee headed by Chairman Kwon Oh-joon and comprised of board members and the heads of five major affiliates. It is tasked with putting forward measures on corporate
IndustryMay 15, 2015
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S. Korea pledges US$3 mln to EBRD this year
South Korea pledged to provide US$3 million in funding to the European Bank for Reconstruction and Development (EBRD) this year as part of its effort to help transitional economies, the finance ministry said Friday. The agreement to inject more money into the Korea-Technical Assistance and Cooperation Fund was reached during Vice Minister Joo Hyung-hwan's visit to Tbilisi, where he took part in the development bank's annual meeting, it said. "The fund will help projects that can support coun
May 15, 2015
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Korea bubbles over with craft beer rush
It has long been a common remark that the best beer on the peninsula is found north of the Demilitarized Zone.But increasingly this refrain is failing to do justice to South Korea’s much-diversified beer market, which has lately seen the rise of craft beer.Craft beer refers to beer produced by small brewers ― known as microbreweries ― and in small batches. In the Korean context, it is beer that is not brewed by any of the major liquor corporations ― Oriental Brewery, Hite Jinro and Lotte Liquor.
May 15, 2015
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Do-it-yourself brewing catches on in Korea
Beer has not seen a solid footing in Korea over the past few years.Its market has been largely controlled by local titans, and the drink was largely seen by the public as nothing more than an ingredient for making the wildly popular “somaek” (beer with soju). When a 2012 Economist article claimed South Korean beers to be worse than those in North Korea, the hard truth was that they could not counter it.“I saw on TV that Japan had over 2,000 kinds of beer, like makgeolli (Korean traditional drink
May 15, 2015
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[Weekender] Beer diversity accelerates evolution of drinkers’ flavor
Big brewers’ brands such as Miller, Michelob, Bud Ice and Corona gained great popularity among South Korean “X-generation” twenty-somethings in the early and mid-1990s.The import beers in a 330 (or 355)-milliliter bottle -- served at bars and Korea’s typical, alcohol sales-permitted cafes -- even attracted a large portion of female college students. The products were actively penetrating a niche in the domestic brewery-dominated market through cafes or convenience stores.But the import beer boom
May 15, 2015
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[Weekender] ‘Love to brew’
The catchphrase, “Do what you love,” holds special significance when it comes to craft brewing, according to Brian Do, the operator of the Hand and Malt Brewing Co. “Running a craft brewery requires a great deal of passion and love for beer,” said Do, who calls himself chief beer taster. “If not, a brewer cannot produce beer with consistent taste and quality,” he stressed.Korea’s craft brewery business is still in an infant stage, with a limited number of mass produced insipid light lagers havin
May 15, 2015
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Korea urged to focus on ICT infra projects
South Korea’s participation in the Asian Infrastructure Investment Bank will be beneficial if the country focuses on infrastructure-building projects in information and communications technology and other key areas, experts said. A recent report, titled “The Meaning of AIIB and Opportunity for ICT,” published by the KT Center of Business and Economic Studies, said that in order to Korea to benefit from the AIIB, it should focus on investing in ICT. “Investing in ICT in Asia could also pave the w
May 15, 2015