Most Popular
-
1
Tensions heighten ahead of first president-opposition chief meeting
-
2
Seoul to provide housing subsidy to married couples with newborns
-
3
New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
-
4
Rapper jailed after public street fight with another rapper
-
5
[KH Explains] No more 'Michael' at Kakao Games
-
6
Woman gets suspended term for injuring boyfriend with knife
-
7
Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
-
8
Med schools expect 1,500+ new admission slots next year
-
9
Samsung chief bolsters ties with Germany’s Zeiss
-
10
KT launches new mobile plans for foreign residents
-
Seoul, Beijing see progress in latest round of FTA talks
South Korea and China have made a meaningful breakthrough in their latest round of negotiations for a bilateral free trade agreement after agreeing on how to open their respective service and investment markets, the government said Friday.“Regarding the service and investment sectors, we reached an agreement on the principles of market liberalization,” the Ministry of Trade, Industry and Energy said in a press release.The 12th round of FTA talks between Seoul and Beijing was held in Daegu from M
July 18, 2014
-
South Korea ups pitch against illegal fishing in deep oceans
LAS PALMAS, Spain ― South Korea reiterated its pledge to up the fight against illegal fishing in the deep oceans in a bid to reverse the EU’s latest decision to include Seoul on a preliminary list of countries held accountable for illegal, unreported and unregulated fishing activities. “South Korea will act as a more responsible state by establishing comprehensive and transparent plans reflecting the needs of the industrial circles, nongovernmental organizations, and related countries,” said Cho
IndustryJuly 18, 2014
-
Korea’s move to sell IBK stake falls apart: sources
South Korea’s planned sale of part of its stakes in the Industrial Bank of Korea fell apart recently, sources said Friday.The government planned to sell about 23 million shares of its stake in IBK through a block deal on Thursday in after-hours trading, according to the sources. The deal was estimated at around 300 billion won ($290.3 million).The government confirmed that the deal fell apart but did not elaborate on the reasons. A finance ministry official told Yonhap that it was natural that a
IndustryJuly 18, 2014
-
Seoul shares down, won falls on increased geopolitical risks
South Korean stocks closed lower on Friday as investors, concerned over rising geopolitical risks following the crash of a Malaysia Airlines jet over Ukraine, flocked to safer assets, analysts said. The Korean won also fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 1.48 points, or 0.07 percent, to 2,019.42, retreating from the highest closing of the year in the previous session. The index fell to as low as 2,006.01 at one point but pared losses in late trading.
July 18, 2014
-
Korean airlines avoiding routes through Ukraine
The nation’s two top airlines ― Korean Air and Asiana Airlines ― have been steering clear of Ukraine’s airspace for the last five months, the two carriers said on Friday, a day after a Malaysian Airlines aircraft was shot down in war-torn Ukraine.“From early March when the situation in Ukraine’s Crimean Peninsula began to worsen, Korean Air has been rerouting its cargo and passenger flights,” Korean Air said in a statement. “There are no safety concerns at the moment.” Korean Air previously oper
IndustryJuly 18, 2014
-
S. Korea's move to sell IBK stake falls apart: sources
South Korea's planned sale of part of its stakes in the Industrial Bank of Korea (IBK) fell apart recently, sources said Friday.The government planned to sell about 23 million shares of its stake in the IBK through a block deal on Thursday in after-hours trading, according to the sources. The deal was estimated at around 300 billion won (US$290.3 million).The government confirmed that the deal fell apart but did not elaborate on reasons. A finance ministry official told Yonhap that it was natura
July 18, 2014
-
LG outpaces Samsung in UHD TV panel market in May: data
South Korea's No. 2 tech giant LG Electronics Inc. has overtaken Samsung Display Co. in the global market for Ultra HD (UHD) TV panels for the first time in May, data showed Friday, with Taiwan's Innolux Corp. keeping its top position.LG took up 27.6 percent of the global UHD TV panel market in May, outdoing the 22.2 percent held by Samsung, the data compiled by market tracker DisplaySearch showed. In April, LG and Samsung held 22.9 percent and 23.4 percent.While Innolux has dominated the market
IndustryJuly 18, 2014
-
Hana Bank set for merger with KEB
South Korea's third-largest banking group Hana Financial Group Inc. said Thursday it will merge Hana Bank with previously purchased Korea Exchange Bank (KEB) in the near future, saying the move will boost competitiveness."In order to cope with worsening conditions in the financial market, and to continue growth, we decided to merge (Hana Bank) with KEB," Hana Financial said in a regulatory filing, adding that it will continue talks with Hana Bank's labor union on conditions including employment
July 17, 2014
-
[Graphic News] In-house reserves surge
The in-house reserves accumulated at South Korea’s top 10 business groups reached 515.9 trillion won ($499.66 billion) as of the end of the first quarter this year, according to a report released by corporate tracker CEO Score on Wednesday. The figure reflected a 90.3 percent increase from the 271 trillion won recorded five years ago, CEO Score said. In-house reserves refer to a company’s capital surplus excluding tax payments and dividends, which are reserved for future investment. Samsung Grou
IndustryJuly 17, 2014
-
Traditional Korean medicine industry struggles to expand
For many years in the past, Koreans would seek doctors of traditional Korean medicine for herbal medicine to boost their energy levels, or to get acupuncture treatment for chronic muscle pain.The industry, however, has been struggling to expand its business into the field of dermatology and fertility medicine. Many clinics have been offering cosmetic treatments for conditions such as wrinkles and acne.“We hope to overcome this perception that traditional Korean medicine is old and not scientific
TechnologyJuly 17, 2014
-
Deep sleep
Sleep is not just rest, but a very important process for performing mental and physical activities. Getting enough good-quality sleep is also necessary for maintaining mental and physical health. Chronic sleep deficiency or poor quality of sleep significantly increases the risk of depression, diabetes mellitus and coronary heart disease.Human sleep consists of 20-25 percent REM (rapid eye movement) and 75-80 percent Non-REM sleep. During REM sleep, the eyes move rapidly and most people experienc
TechnologyJuly 17, 2014
-
300 vials labeled flu, dengue found at U.S. lab
WASHINGTON (AP) ― The same U.S. government scientist who recently found forgotten samples of smallpox at a federal lab also uncovered over 300 additional vials, many bearing the names of highly contagious viruses and bacteria. The new revelations raise serious concerns about the government’s ability to secure its collections of potentially deadly pathogens.Food and Drug Administration officials said Wednesday the undocumented collection contained 327 carefully packaged vials, listing pathogens l
TechnologyJuly 17, 2014
-
Korea, Spain join hands for maritime business
LAS PALMAS, Spain ― Las Palmas, often dubbed a paradise for its mild climate, beautiful beaches and romantic atmosphere, has long been the base of South Korea’s distant-water fishing in the Atlantic since 1966.The Spanish island situated near Morocco is now expected to transform into the frontline of Korea’s cutting-edge oceans and fisheries industries as the Korean government has announced a set of plans to cooperate with the local authorities and academia in joint research, development and pot
July 17, 2014
-
Caffe Bene strives for stronger foothold in U.S
Caffe Bene is striving to gain a firm foothold in the U.S. market, hoping to become a bigger presence there within the next three years, Kim Sun-kwon, the chief executive of the South Korean coffee franchise, said on Thursday.“Increasing our exposure to U.S. consumers is the foremost task lying ahead of us,” Kim told the press at Caffe Bene’s new roasting plant in Yangju, Gyeonggi Province.Kim also said Caffe Bene signed a contract with a U.S. production firm three months ago for its U.S. outlet
IndustryJuly 17, 2014
-
Shinsegae Group jumps into convenience store business
Shinsegae Group, the nation’s largest retailer, is planning to expand in Korea’s crowded convenience store sector, aiming to open 1,000 With Me outlets by the end of this year. Shinsegae, which owns Emart and Shinsegae Department Store, acquired With Me, a mid-size convenience store operator, in December. The industry’s top three players ― BGF Retail’s CU, GS Retail’s GS25 and Lotte Shopping’s 7-Eleven ― currently dominate more than 90 percent of the market, which consists of some 25,000 stores
IndustryJuly 17, 2014
-
iPhone may adopt sapphire glass for premium models
Apple may adopt sapphire glass for the highest-end models of its new smartphone, the iPhone 6, according to a display research company. “Apple’s sapphire material supplier, GT Advanced Technologies, appears capable of producing the glass for around 45 million smartphones. Still, only the iPhone 6’s most premium models may adopt it due to its high cost and a possible supply (set aside) for the iWatch,” said Brian Huh, a senior analyst at NPD DisplaySearch Korea, at its touch conference in Seoul.
IndustryJuly 17, 2014
-
Fuji Xerox Korea promises more efficiency at the workplace
Fuji Xerox Korea, a leading document management firm, said Thursday it would make efforts to solidify its leadership in the document management services market. “Fuji Xerox Korea will continuously provide a better work environment for our customers and also make contributions to society,” said Ueno Yasuaki, chief executive of the company, at a press meeting marking the 40th anniversary of its entry into the Korean market.In line with the efforts, the company, which introduced the first color cop
TechnologyJuly 17, 2014
-
KT&G net profit falls 4.3% in second quarter on stronger won
KT&G Corp., South Korea’s largest tobacco manufacturer, said Thursday its second-quarter net profit decreased 4.3 percent from a year earlier due to stronger local currency.Net income stood at 184.3 billion won ($179.2 million) in the April-June period, compared with 192.7 billion won a year earlier, the company said in a regulatory filing. Sales, however, rose 8.5 percent to 992.3 billion won in the cited period, and operating profit surged 15.1 percent to 286.3 billion won. The numbers reflect
IndustryJuly 17, 2014
-
Seoul rejects Lotte’s plan to open lower floors of mega high-rise
The Seoul city government on Thursday rejected a request from Lotte Group to open the lower floors of a mega skyscraper in the Jamsil area, citing safety concerns and traffic congestion. Lotte has been seeking Seoul’s approval since June to use the completed lower floors of the 123-story highrise that is being built as a part of a complex called the Second Lotte World Tower. It will be the tallest building in South Korea when completed in late 2016. The city government, however, turned down the
IndustryJuly 17, 2014
-
Korean won’s volatility eases in second quarter
The intraday volatility of the South Korean currency declined in the second quarter compared with three months earlier as the won’s appreciation stoked caution among investors, central bank data showed Thursday.The average intraday change in the Korean won came in at 3.7 won in the April-June period, compared with 4.9 won in the previous quarter, according to the Bank of KoreaThe day-on-day change also fell to 2.5 won in the second quarter from 3.8 won three months earlier, with the average day-
July 17, 2014