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Doosan E&C faces penalty for violating fair trade law

The Fair Trade Commission is expected to impose penalties on Doosan Engineering & Construction for violating the country’s fair subcontract transactions law, according to the firm’s regulatory filing Monday. The construction unit of Doosan Group is set to face limits in operations and be...

Updated : 2015.08.04 18:36

[SUPER RICH] Saga of ‘strife of princes’ runs deep at Korean conglomerates

The fraternal feud surrounding the managerial rights of South Korean retail giant Lotte Group has made the headlines of every media outlet here for the past week. But this is not the first time the se...

Updated : 2015.08.04 18:33

Lotte feels pinch of family feud

Retail giant Lotte Group, caught in a mud-slinging battle between the founder’s two sons, is caught with a buyers’ boycott on one hand and a nose-diving market value on the other. Worse still, the g...

Updated : 2015.08.04 18:21

Lotte CEOs pledge support for chairman

Lotte Group chairman Shin Dong-bin received a boost in his move to solidify his managerial power as CEOs of the group’s units and Japan-based Lotte Holdings’ CEO pledged their full support for his l...

Updated : 2015.08.04 18:13

[SUPER RICH] Lotte founder no stranger to fraternal feud

Lotte founder and general chairman Shin Kyuk-ho became both the protagonist and antagonist of a soap opera-ish family feud since July 27 when he tried to oust his second son from his business empire b...

Updated : 2015.08.04 18:02

Lotte Group chairman visits distribution center in Osan

Lotte Group chairman Shin Dong-bin pays a visit to a Lotte distribution center in Osan, Gyeonggi Province, Tuesday, in his efforts to ease public concerns of a leadership vacuum. Lotte Group

Updated : 2015.08.04 17:41

[Graphic News] Online shopping sales reach all-time high

The number of online shoppers in South Korea saw a sharp increase in June, largely as the recent outbreak of the Middle East respiratory syndrome drove people away from visiting large retail outlets.O...

Updated : 2015.08.04 16:15

S. Korea's air traffic drops in July on MERS impact

South Korea's air traffic slipped in July from a year ago due mainly to a plunge in international passengers amid concern over the Middle East Respiratory Syndrome outbreak, industry data showed Tuesday.The number of air passengers reached 6.81 million last month, down 6.5 percent from the...

Updated : 2015.08.04 09:51

[Graphic News] Korea sees current account surplus for 40th consecutive month

South Korea posted a surplus in its current account for the 40th consecutive month, data from the Bank of Korea showed Monday.The surplus was estimated at $12.9 billion in June, a 41.5 percent increas...

Updated : 2015.08.04 09:15

Hyundai Oilbank promotes shared growth

SHARED GROWTH -- Seosan City mayor Lee Wan-seop (fourth from left) and Hyundai Oilbank staffers release a total of 150,000 baby rockfish into the sea near Samgilpo Port in South Chungcheong Province i...

Updated : 2015.08.04 08:37

KEPCO shares hit record high

Korea Electric Power Corp., the largest state-owned utility company, became the nation’s second-biggest company after Samsung Electronics in terms of market capitalization Monday, as its shares hit a record high of 52,200 won ($45). KEPCO’s share price rose four consecutive trading days,...

Updated : 2015.08.03 18:53

Shipbuilders face sweeping overhaul

The country’s top three shipyards are readying for restructuring as they deal with a collective second-quarter operating loss of 4.7 trillion won ($4 billion), battered by ailing offshore businesses.The financially distressed players ― Hyundai Heavy Industries, Samsung Heavy Industries a...

Updated : 2015.08.03 18:51

Lotte chairman strives to soothe citizens over feud

Lotte Group chairman Shin Dong-bin on Monday met with group founder and general chairman Shin Kyuk-ho at Lotte Hotel in Seoul, fueling speculation that the “rebellious second son” is determined to m...

Updated : 2015.08.03 18:50

Pyeongtaek Port to expand trade role amid China FTA

The nation’s fourth largest harbor, Pyeongtaek Port, is eyeing a bigger role in trade between South Korea and China following the official signing of a free trade agreement between the nations in Jun...

Updated : 2015.08.03 17:05

BAT Korea launches premium Dunhill

Dunhill Fine Cut Master. (BAT Korea)British American Tobacco Korea announced the world premiere of “Dunhill Fine Cut Master” in Korea on Monday, introducing the premium version of BAT’s superslim f...

Updated : 2015.08.03 17:03