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[Newsmaker] Mitsubishi refuses to discuss compensation for wartime forced l...
S. Korea to receive applications for new internet bank in October
Vice minister stresses importance of Seoul-Tokyo relations for regional pea...
Vice unification minister to meet Japanese official amid trade dispute
Far-right party removes tents from Seoul square
More young people seeking public jobs, professional licenses
Moon's meeting with party leaders set for Thursday
Busan launches fact-finding team over atrocities against vagrants decades a...
Netflix has 1.84 mln users in S. Korea: data
Nearly half of N. Koreans suffer from undernourishment: UN report

Today Industry

Netflix has 1.84 mln users in S. Korea: data

The number of South Korean users subscribing to the US video streaming platform Netflix Inc. has nearly tripled on-year to surpass the 1.8 million mark, industry data showed Tuesday.Netflix is estimated to have 1.84 million paid active streaming subscribers as of June, compared with 630,000 users during the same period a year earlier, according to the data compiled by industry tracker WiseApp. The data showed that some 38 percent of Netflix users in the country are in their 20s, followed by 31 p

[Contribution] Need to make traditional liquor Korea’s representative brand

While on a plane back from an overseas trip to an exhibition on rural food, I asked without a great deal of anticipation whether the in-flight service includes Korean traditional liquor, besides wine, beer and whiskey.To my surprise, the flight attendant immediately replied that they did indeed serve traditional liquor and had canned makgeolli. The fact that Korea’s traditional liquor was available on the plane made me incredibly grateful and glad, especially as the representative of Korea

Today
Industry
[News Focus] Throwing sand in wheels of world trade: Foreign experts weigh in on Japan export curbs

Japan’s ‘political’ trade restriction is latest case of governments holding companies hostage to diplomatic disputes, experts suggest

Today
Industry
Asiana adopts smart work platform for cabin crew

South Korea’s full-service carrier Asiana Airlines said Monday that it has adopted a smart work platform called A-tab for its cabin crew to increase their work efficiency and convenience. The system,which works on a tablet PC, allows crew members to easily and conveniently check their work schedule, information on flights, work manual and also hand in work-related reports, the air carrier said. Some 4,000 cabin crew members will be given tablet PCs equipped with the system by the

Today
Industry
Posco International sends volunteer team to Papua, Indonesia

Posco International, the trade and resources development arm of Posco, said Sunday that it had sent some 30 executives and employees to Papua, Indonesia, to perform volunteer work. Together with 30 medical experts from Korea University Ansan Hospital, the Women’s Health Foundation and Seegene Medical Foundation, the Korean volunteer team conducted medical checkups for some 1,160 residents in Indonesia’s eastern province of Papua from July 6 to Saturday. Posco International&rsquo

Jul 15, 2019
Industry
Chinese shoppers at Shilla Duty Free rise after WeChat tie-up

Shilla Duty Free, South Korea’s second-largest duty-free operator in terms of sales, has seen a twofold jump in number of Chinese customers on its online mall following the introduction of WeChat Pay, the company said Monday.According to the duty free operator, the number of customers who joined Shilla Duty Free’s Chinese online mall has surged as of July, compared to in March when it introduced WeChat Pay as one of its payment options. WeChat is China’s most popular mobil

Today
Industry
Korean oil refiners push into EV charging market

The three large Korean oil refiners -- Hyundai Oilbank, GS Caltex and SK Innovation -- are seeking new opportunities in electric vehicle charging infrastructure, amid slowing sales of diesel cars and weakening profitability in the saturated gas station market. On Monday, Hyundai Oilbank said it signed with local EV charger producer JoongAng Control and charger operator Charzin to build charging infrastructure for electric vehicles in Korea. Under the agreement, the three firms will form a hybrid

Today
Industry
Lotte Chemical, GS Energy to invest 800 bln won in petrochemical JV

Lotte Chemical Corp., a major chemical unit under Lotte Group, said Monday it will establish a petrochemical joint venture with GS Energy Co., an energy-specialized holding company of GS Group.Lotte Chemical and GS Energy signed an agreement to form a joint venture, tentatively named Lotte-GS Chemical Company, this year to produce chemical compounds like bisphenol A (BPA) and C4 fraction.Lotte Chemical will have a 51 percent stake in the joint venture, with the rest to be owned by GS Energy.&nbs

Jul 15, 2019
Industry
Samsung secured materials to continue production amid Japan's export curbs: sources

Samsung Electronics Vice Chairman Lee Jae-yong secured emergency stockpiles of three key high-tech materials subject to Tokyo's export restrictions against South Korea during his recent trip to Japan, sources said Sunday.Sharing the results of his trip, Lee told a special meeting held Saturday with top executives that he secured enough fluorinated polyimides, photoresist and hydrogen fluoride to avoid disruptions in production, according to sources. On July 4, Japan imposed restrictions on

Jul 14, 2019
Industry
Kosdaq sheds over W4tr in H1 amid biotech slump

Weighed down by a bearish market and a series of business license revocations on key products, South Korea’s pharmaceutical sector saw its market capitalization shed over 4 trillion won ($3.4 billion) during the first half of this year, data showed Sunday.According to market operator Korea Exchange (KRX), the market capitalization of Kosdaq-listed biotech companies stood at 28.9 trillion won as of end-June, down 12.3 percent, or 4.1 trillion won, from the end of last year.The number of lis

Jul 15, 2019
Industry
Samsung heir returns from Japan amid trade row

Samsung Electronics Co. Vice Chairman Lee Jae-yong returned Friday from Japan amid the neighboring nation's curbs on high-tech exports to South Korea. The heir apparent of Korea's biggest conglomerate, Samsung Group, flew to Tokyo on Sunday, three days after Japan implemented export restrictions on three key materials used for making chips and displays. Lee traveled to Japan in an effort to resolve any potential fallout from the restrictions. He didn't answer questions from reporters

Jul 12, 2019
Industry
Japan walks back earlier claims, says export controls unrelated to NK sanctions

First round of bilateral talks ends without progress; Seoul requests second meeting but gets no answer from Tokyo

Jul 13, 2019
Industry
Prolonged Seoul-Tokyo trade dispute to further affect tech sector: Moody's Analytics

Moody's Analytics said Friday a prolonged Seoul-Tokyo trade dispute would deal a further blow to the "already depressed" global tech sector.Japan began last week to apply tighter regulations on exports to South Korea of three materials used in smartphone displays and chips, in an apparent retaliation for Seoul court rulings that ordered Japanese companies to compensate Korean plaintiffs mobilized for forced labor during World War II. "Our baseline is that this dispute will not dra

Jul 12, 2019
Industry
LS Cable & System inks $100 million deal to supply submarine power cables to Taiwan

LS Cable & System won a deal worth 89 million euros ($100 million) with Denmark’s state-run energy firm, Orsted, to build a submarine power grid in Taiwan, the firm said Friday. The Korean industrial company said it had agreed with Orsted to supply submarine power cables to offshore wind farms in Changhua, a city in central Taiwan, and put them in place by 2022. The Taiwanese government plans to invest around $23 billion to increase the amount of renewable energy generated in the

Jul 13, 2019
Industry
Medytox shares stumble following reports of alleged irregularities

Rollercoaster ride for investors in the botulinum toxin war

Jul 13, 2019
Industry

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