Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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Monthly users on local streaming platforms outpace Netflix, Disney+
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Seoul to promote luxurious side of the city
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Louis Quatorze launches Metallic Balloon Bag
Popular handbag and fashion accessories brand Louis Quatorze released its limited-edition Metallic Balloon Bag in select stores in South Korea and China on Wednesday.Designed under a futuristic concept, the bag seeks to recreate a star shining on behalf of King Louis XIV of France under a pop art style, according to the company.The purse is mainly made with polycarbonate -- a lightweight and sturdy material known to withstand shock and scratches well -- and comes in three colors: pink, gold and
July 30, 2015
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[Graphic News] Banks to discontinue new account books
Bank account books, which have been used in Korea since 1897, will stop being issued starting September, financial officials said Thursday.The suspension is mainly due to financial systems being computerized and bank account books costing money to print and maintain.The Financial Supervisory Service said that starting this September, financial incentives will be offered to customers who do not want bank books and will stop providing them from September 2017.Incentives will include favorable inte
July 30, 2015
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S. Korea to begin 2nd stage of space rocket development
South Korea will soon enter the second stage of its program to develop the country's own space vehicle by 2021, the government said Thursday.The second, three-year stage of the rocket development plan will begin at the start of next month, in which the country will develop a 75-ton thrust engine, according to the Ministry of Science, ICT and Technology.Following a successful development of a 75-ton thruster, the country will build a 300-ton booster, using four 75-ton thrust engines, which will b
July 30, 2015
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Samsung among most respected firms in China
The Chinese unit of South Korea's Samsung Group said Thursday that it was ranked one of the most respected companies in China, citing an annual survey of a Chinese business newspaper. Samsung and eight other foreign companies, including Volkswagen, IBM and BMW, were included on the list released by the Economic Observer newspaper. The survey attributed innovation edge, corporate social responsibility, environment protection and global strategy to the companies that gain respect, according to a s
July 30, 2015
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S. Korea aims to sell food with K-pop in northern China
A South Korean government trade agency held an investor fair in northern China on Thursday to sell Korean food utilizing the country's pop culture. The two-day fair, held in the northeastern city of Shenyang, drew about 10 South Korean food firms and 85 Chinese firms, said the Shenyang office of the Korea Trade and Investment Promotion Agency.Riding the growing popularity of Korean pop culture in China, the demand for Korean food is also growing here, said Kim Doo-hee, head of KOTRA's Shenyang o
July 30, 2015
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LG Uplus Q2 net more than triples on robust mobile sales
LG Uplus Inc., South Korea's smallest mobile carrier, said Thursday its net profit more than tripled in the second quarter, driven by strong sales in wireless business and reduced marketing costs. Net income came to 115.9 billion won ($99.8 million) in the April-June period, up 245.3 percent from 33.6 billion won the previous year, the company said in a regulatory filing. The bottom line beat the median estimate of 89.5 billion won in a poll by Yonhap Infomax, the financial news arm of Yonhap Ne
July 30, 2015
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Naver's Q2 net more than triples on upbeat mobile ad sales
Naver Corp., South Korea's top Internet portal operator, said Thursday its second-quarter net profit more than tripled from a year earlier, buoyed by robust revenues from mobile advertising. Net income reached 124.1 billion won ($107 million) in the April-June period, compared with 39.4 billion won the previous year, the company said in a regulatory filing. The figure, however, falls far short of the median estimate of 150.2 billion won in a poll by Yonhap Infomax, the financial news arm of Yonh
July 30, 2015
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Hybrid car sales on track to hit all-time high: data
Sales of hybrid electric cars in South Korea are on track to reach an all-time high in 2015 amid growing demand for vehicles with better fuel efficiency, industry data showed Thursday.According to the data, 15,953 units of locally produced hybrid electric cars were sold here during the first half of the year, about 1,000 units more than a year earlier. If the current sales pace continues, they are expected to easily renew the current record set in 2012, when 31,236 hybrid vehicles were sold, obs
July 30, 2015
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Visitors to 1,600 Pandas+ World Tour event surpass 3 million
The number of visitors to see the “1,600 Pandas+ World Tour” event in southeastern Seoul surpassed 3 million people Tuesday, according to organizers.Launched May 23 in Korea, the 1,600 Pandas+ Flash Mobs toured 15 scenic spots in seven cities: Seoul, Incheon, Busan, Suwon, Daejeon, Daegu and Gwangju. The event organized by the Korean chapter of World Wide Fund for Nature is currently taking place around Seokchon Lake and in the gardens of Lotte World Mall in southeastern Seoul, in cooperation wi
July 29, 2015
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[Newsmaker]Lotte founder descends after 67 years at helm
On Tuesday night, Lotte founder and general chairman Shin Kyuk-ho appeared at the Gimpo International Airport from his trip to Japan. On a wheelchair, he looked tired and dim, refusing to answer any media questions. It was a long day for Shin, who was sacked as chairman of the board of Lotte Holdings in Japan -- the de facto control tower of both Lotte in Japan and Korea -- and thus had to step down from the helm of the 90 trillion won-business empire. Lotte said he will be posted as an honorary
July 29, 2015
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Shipbuilding ‘Big 3’ post massive Q2 losses
The continuing slowdown in the shipbuilding industry dealt massive losses for Korean shipyards pushing shipyard into the red, industry data showed Wednesday. The country’s top three shipbuilders -- Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering -- all posted large losses in the second quarter, weighed down mainly by the lackluster offshore plant businesses.Of the three, DSME posted the largest operating loss that clocked in at a record high of 3.0
July 29, 2015
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SK Innovation pins high hopes on car battery business
SEOSAN, South Chungcheong Province -- SK Innovation, the energy holding unit of SK Group, is accelerating its drive to expand its electric automobile battery business by kicking its lithium-ion battery production into full gear. The Korean firm’s newly-expanded battery plant in Seosan, South Chungcheong Province, has more than doubled its annual production capacity from 300 to 700 megawatt-hours -- sufficient to power around 30,000 electric vehicles, the company said.Since the factory first open
July 29, 2015
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Second son, winner of Lotte power game?
Lotte Group chairman Shin Dong-bin has apparently gained full control of the companies in both Korea and Japan on Tuesday, but it may be too early to pop the champagne as the ousted father and group founder Shin Kyuk-ho emerges as a deal breaker of the son’s hopeful reign of the business empire. Chairman Shin and his followers successfully repressed the uprising by his older brother in Japan to oust him with the help of the nonagenarian father early this week. But the wealth of the father, who h
July 29, 2015
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Daelim Industrial opens sales of Yangju apartments
Daelim Industrial Co. officials said it would open sales in August of its e-Pyeonhansesang apartments in Yangju, a new city in northern Gyeonggi Province.A total of 761 homes in its eight apartment buildings in Okjeong-dong, Yangju, will be available. E-Pyeonhansesang (comfort world) is the builder’s apartment brand well known to domestic consumers.Yangju is one of the largest new cities in Gyeonggi Province and is expected to be an alternative residential place for several areas in northern Seo
July 29, 2015
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70% of conglomerate units hold no female executive
The executive boards of a majority of the Korean conglomerates continue to be dominated by male members despite the rising proportion of female workers over the past few decades. According to corporate assessment site CEO Score, seven out of 10 affiliates of the 30 biggest business groups had a male-only board of directors.About 73 percent, or 210 of the 284 surveyed units, of the 30 conglomerates did not have a single female executive on their board of directors as of the first quarter of 2015.
July 29, 2015
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[Graphic News] Car export prices continue slide
The nation’s five major automobile companies exported 809,642 units in the second quarter this year, down 0.2 percent from a year ago, according to data released Wednesday.The report by the Korea Automobile Manufacturers Association said their combined income from car exports during the period reached $11.5 billion, a 3.9 percent drop.The average export price per car stood at $14,200, a 3.7 percent decrease on-year, the KAMA report said.The export unit price of cars has decreased since the third
July 29, 2015
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KT&G chief offers to resign amid slush fund probe
Min Young-jin, chief executive of Korea’s largest tobacco producer KT&G, offered to resign a week after prosecutors began probing slush fund allegations. Min Young-jin (KT&G)Min, whose term officially ends in seven months, attended the board meeting Wednesday to announce his intention to resign, KT&G said. The board will convene a committee to sort out candidates.Last week, Min was investigated at the Seoul Central District Prosecutor’s Office over embezzlement and breach of trust charges. Pr
July 29, 2015
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Microsoft launches Windows 10 in S. Korea
Microsoft Corp. released its latest operating system in South Korea on Wednesday, offering one single platform that works on PCs, as well as smartphones, as the world's top software giant sets its sights on claiming the mobile and cloud segments.Windows 10 for desktops and tablet PCs is now available for purchase, with the mobile version to be introduced later in the year, its local unit said at a press briefing. The price for Windows 10 Home, the version for general users, is set at 172,000 won
July 29, 2015
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‘Chinese superrich to sustain growth despite economic slowdown’
Despite the continued economic slowdown and a recent big stock market crash in China, the number of Chinese dollar billionaires is expected to hit a record high of 450 this year, up 26 percent from 358 in 2014, an expert on successful Chinese individuals said. Rupert Hoogewerf, chairman and chief researcher of Hurun Report“Wealth creation in China has been extraordinary over the past 16 years. There was only one dollar billionaire when I started doing research on China’s rich people back in 199
July 28, 2015
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Spreading K-beauty
AmorePacific’s flagship brand Laneige held a makeup show dubbed “Beauty Road” to promote its best-selling BB Cushion at the EmQuartier Shopping Mall on Sukhumvit Road in Bangkok, Thailand, on July 17. Starting from Thailand’s capital city, the Korean cosmetic brand will tour seven Asian cities, including Kuala Lumpur, Beijing and Singapore, to host the pop-up event. (Laneige)
July 28, 2015