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Gov't plans additional aid for companies forced out of Kaesong complex

South Korea will provide 6.6 billion won ($5.7 million) in financial assistance to companies struggling with losses from their investments in the shuttered industrial complex in North Korea, the unification ministry said Thursday.The government plans to deliver 5.1 billion won to companies...

Updated : 2016.12.08 14:38

Korea wins bid to host World Forestry Congress 2021

South Korea won the bid to host the 15th World Forestry Congress to be held in 2021, the Ministry of Foreign Affairs and Korea Forest Service said Wednesday.This will the first time in over 40 years f...

Updated : 2016.12.08 14:22

Samsung Lee Jae-yong ends up promoting US lip balm

The shrewd eyes of the watchful public caught Samsung Electronics Vice Chairman Lee Jae-yong applying coats of lip balm in between his answers at the parliamentary hearing held Tuesday. Although Lee d...

Updated : 2016.12.08 14:16

Subcontractors see improvement in business with big firms: survey

About 70 percent of subcontractors say that their business environment with big companies is improving, as their clients expand cash payments to help protect their profitability, a survey showed Thursday. Under the so-called "shared growth" policy, South Korea has urged big firms not to ha...

Updated : 2016.12.08 11:35

Egg prices set to soar on AI outbreak

Egg prices in South Korea are showing signs of jumping as a large number of chickens have been culled due to the recent outbreak of avian influenza, industry sources said Thursday.The country has seen highly pathogenic bird flu cases spread at a rapid pace since mid-November when the first...

Updated : 2016.12.08 11:34

Samsung set to bag offshore facility deal

Samsung Heavy Industries Co., a major shipyard here, is in final talks to secure an offshore facility deal from a Norwegian firm, industry sources said Thursday, with the final contract to be sealed next month.According to the sources, Samsung Heavy has signed a letter of intent with Hoegh...

Updated : 2016.12.08 11:33

Health care exports to reach $10 bln this year

Annual exports from South Korea's health care businesses are forecast to reach $10 billion in 2016, the Ministry of Health and Welfare said Thursday.Outbound shipments of locally manufactured medicine...

Updated : 2016.12.08 11:18

Malibu, SM6, K7 named safest car of the year

GM Korea’s Chevrolet Malibu, Renault Samsung’s SM6 and K7 from Kia Motors were named the 2016 safest car of the year during a ceremony held by Korea’s transportation ministry Tuesday. The Ministry ...

Updated : 2016.12.07 16:39

Samsung to review ways to disband future strategy office

Following Samsung Electronics Vice Chairman Lee Jae-yong’s remarks to abolish the group’s future strategy office during a parliamentary hearing on Tuesday, industry watchers projected Wednesday that...

Updated : 2016.12.07 16:01

The Shilla Duty Free sweeps customer satisfaction indices

The Shilla Duty Free, operated by Hotel Shilla, was ranked first in the duty-free division in two major customer satisfaction indices this year, according to the company Wednesday.The duty-free operat...

Updated : 2016.12.07 15:44

Hanmi shares hit as US drug trial recruitment halted

Shares of Hanmi Pharmaceutical plunged 10.76 percent to close at 311,000 won ($266.30) Wednesday, following news its partner Janssen had stopped recruiting participants for the clinical trials of a ne...

Updated : 2016.12.07 15:43

US Supreme Court rules in favor of Samsung in smartphone patent suit

The US Supreme Court ruled Tuesday that Samsung may not have to disgorge all profits from smartphone sales even if some designs of the phones were copied from Apple's iPhone, officials said.The decisi...

Updated : 2016.12.07 10:01

Fate of Samsung’s future strategy office nears end

Samsung Group’s future strategy office, which its de facto chief Lee Jae-yong vowed to abolish during a parliamentary hearing Tuesday, has long been the tech giant’s key organ in charge of acquisiti...

Updated : 2016.12.06 21:13

Hearing fails to deliver, only scars corporate image

The parliamentary hearing Tuesday to question nine business moguls involved in a political scandal failed to reveal new facts, leaving only scars on the companies’ reputations, industry watchers said...

Updated : 2016.12.06 20:06

Lee Jae-yong put at center in largest hearing on chaebol 

The nation was glued to television broadcasts Tuesday as the country’s top chaebol owners sat in front of lawmakers at the National Assembly to face questions over allegations they made secret deals ...

Updated : 2016.12.06 20:01