Most Popular
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1 in 3 Koreans live alone, family types becoming diverse
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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K-pop singer lost consciousness after being hit by foul ball, cancels show
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Contentious grain bill put directly to plenary meeting for vote
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Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
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Why is Apple Pay struggling to get purchase in Korea?
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Yoon's office denies considering liberal figures for key posts
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Today’s K-pop] BTS pop-up event to come to Seoul
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Global start-up pitch-off returning to Seoul
Seedstars World, a global network of start-up investors, is holding a local pitch-off for a chance to compete in Switzerland for $500,000 in funding.Up to 12 start-ups can compete in the third annual pitch-off in Seoul on Oct. 6 for a ticket to the Seedstars World final in Geneva, giving the winner a chance to meet investors and go head to head with over 50 other start-ups at the global event for the funding prize.With the aim of bringing investor awareness to start-ups from emerging markets, Se
Sept. 11, 2015
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Hotel Lotte picks 3 lead managers for IPO
Hotel Lotte, Lotte Group's hotel unit, said Friday it has chosen three brokerages houses for its initial public offering, accelerating the group's move to improve its murky governance structure and transparency.Seoul-based KDB Daewoo Securities, Bank of America Merrill Lynch's Merrill Lynch International & Co and Citigroup were selected to lead the listing process. Korea Investment & Securities, Mirae Asset Securities of South Korea, Goldman Sachs and Nomura will advise the listing, the firm sai
Sept. 11, 2015
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Samsung to hold Tizen conference in China with Baidu, Tencent
Global smartphone leader Samsung Electronics Co. will hold a two-day gathering of developers on its own Tizen operating system in China next week, partnered with Chinese Internet firms Baidu Inc. and Tencent Holdings Ltd., a company official said Friday. Samsung unveiled its first Tizen-based smartphone in India earlier this year, as part of its years-long push to build its own mobile-phone ecosystem, like Google Inc.'s Android and Apple Inc's iOS. It would be the first time that Samsung holds s
Sept. 11, 2015
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S. Korean firm completes Asia's biggest biomass plant
GS EPS Co., a South Korean utility firm, announced Friday the completion of a power plant that consumes agricultural byproducts for power generation just southwest of the capital.The company has spent 300 billion won ($254 million) over the past three years on building the biomass plant in Dangjin, some 110 kilometers south of Seoul, claiming it is the largest of its kind in Asia.The plant is around 80 percent fueled by palm kernel shells.The plant generates up to 105 megawatts of electricity, t
Sept. 11, 2015
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Samsung seeking to sell its private jets, choppers: sources
South Korean tech giant Samsung Electronics Co. is trying to sell its private planes and helicopters, industry sources said Friday, a move seen as part of Samsung Group heir apparent Lee Jae-yong's drive for efficiency amid a shakeup. The world's biggest smartphone maker is apparently in talks with Korean Air Lines Co. to sell three airplanes -- two Boeing 737s and a Bombardier 700, according to Samsung officials. It is also looking to hand over six of the seven helicopters it owns to Korea Airp
Sept. 11, 2015
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S. Korean pilots leave for better working conditions
More South Korean pilots are leaving local airlines, data showed Friday, apparently for better salaries and working conditions abroad.According to the data by the transportation ministry, the number of pilots who left top flag carrier Korean Air Lines Co. during the January-July period stood at 42.This is compared with 26 pilots leaving the company in 2013 and 27 in 2014, the data showed. Pilots of Asiana Airlines Inc. who quit are also on the rise, with the figure coming to 29 during the first
Sept. 11, 2015
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Hotel Lotte shareholders approve IPO
Shareholders of Hotel Lotte Co., Lotte Group's hotel unit, approved Thursday the listing of its shares on the Seoul bourse, backing the retail giant's efforts to improve its governance structure. Hotel Lotte has been preparing for an initial public offering(IPO) after Lotte chairman Shin Dong-bin last month promised to improve corporate transparency by listing its affiliates and untangle the complex cross-shareholding structure. Lotte, the country's fifth-largest conglomerate, has come under gro
Sept. 10, 2015
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Ikea hosts HejHOME Together
Ikea will hold the HejHOME Together event at Kunsthalle in Nonhyeon-dong, southern Seoul, through Sept. 25, displaying home-furnishing solutions for families with kids. A variety of furniture and home furnishing solutions will be showcased under the themes of “doing everything together,” “doing nothing together,” “creating things together,” “rest and recharge together” and “growing a garden together.” Visitors will be encouraged to paint a picture and make flowerpots with their children. By Bae
Sept. 10, 2015
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Korean refiners set for downturn on oil price drop
Faced with fluctuating oil prices that have led to a renewed drop in refining margins, South Korean oil refiners are geared for a major downturn in profits in the third quarter.An oversupply of oil coupled with slowing demands from key consumers like China have been driving down the world’s oil prices to record-lows, with the U.S. benchmark West Texas Intermediate crude hitting a six-year-low, closing below $40 a barrel on Aug. 21, amid an expected hike in stockpiles from the U.S. and the Middle
Sept. 10, 2015
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Samsung launches ‘The Human Fit’
Samsung C&T launched wearable platform brand “The Human Fit” at the 2015 IFA. The Human Fit introduces fashion garments and accessories on top of smartphone applications and information technology accessories under the concept of “adding technology to style.”The products presented at the IFA included the “Smart Suit” that has an NFC tag on the wrist part of the suit instead of the conventional waist pockets; “On Bag” that charges smartphones wirelessly; bio-smart white shirt “Body Compass” that
Sept. 10, 2015
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Hurom opens juice cafe in Malaysia
Juicer maker Hurom opened its first juice cafe at AEON shopping mall in the city of Malacca, Malaysia, on Aug. 22. The 21st Hurom cafe in Asia attracted more than 2,000 customers within 2 weeks of its opening. The menu consists of vegetables and fruits that are favored by locals. Many of the juice menu items are based on pear, with variations in the mixtures, such as pomegranate, lotus roots and others. The cafe also sells juicers. The company is planning to open several more in Kuala Lumpur and
Sept. 10, 2015
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Artistry launches Supreme LX
Global cosmetic brand Artistry launched “Supreme LX,” the prestige skin care line -- containing Gardenia stem cells and 24-karat gold. The company explained that the production of the Regenerating Cream and Regenerating Eye Cream are the first Artistry products to address both the extrinsic and intrinsic causes of aging. They also use cardiolipin -- a rare and expensive ingredient similar to that found at the heart of our skin cells -- and spinach extract to help boost the skin’s natural ability
Sept. 10, 2015
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SK-II launches ‘Change Destiny’ campaign
Cosmetic brand SK-II launched a new campaign, “Change Destiny,” encouraging women to make their own choice in leading an active life.Global brand ambassador and actress Tang Wei shared her experience of making and standing by her choices through hardships that have led to her worldwide success at the InterContinental Hotel in southern Seoul on Thursday. She also shared her five-year experience of using SK-II products that are based on Pitera -- a naturally-fermented liquid -- that boosted her se
Sept. 10, 2015
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‘U.S. probes KEPCO units for corruption’
The U.S. Securities and Exchange Commission has launched an investigation into allegations that several affiliates of Korea’s state-run Korea Electric Power Corporation were involved in graft, it was revealed on Thursday. According to Rep. Hong Ihk-pyo of the opposition New Politics Alliance for Democracy, the American authorities sent a subpoena to the KEPCO last November asking to verify allegations that the U.S.-based Peabody Energy Corporation, CMW Partners and three others paid kickbacks to
Sept. 10, 2015
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Retailers strive to create own ecosystems
Shinsegae`s SSG PayRetailers are embracing digital platforms and new delivery systems to attract new customers while retaining the existing ones. Digital payment tool The market frontrunner is Shinsegae Group, which has Shinsegae Department Store, discount supermarket E-Mart, high-end grocery store SSG, online shopping mall SSG.com, Shinsegae Food restaurants and several others under its belt. The company launched SSG Pay, an app-based payment tool that can be used at all its affiliates, in A
Sept. 10, 2015
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Sun At Food to speed up global expansion with Brazil steakhouse chain
Texas De Brazil chef Evandro Caregnato poses with models at a restaurant in Seoul. (Sun At Food)Korean restaurant operator Sun At Food hopes to make inroads in the Asian barbecue market with a newly launched Brazilian steakhouse brand. Texas de Brazil, an authentic Brazilian-American “churrascaria,” or steakhouse, founded in 1998 in the United States, opened its first restaurant in Asia under a partnership with Sun At Food in Seoul on Thursday. The firm, which operated American family restaurant
Sept. 10, 2015
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Hanwha Q Cells expands solar energy business in Malaysia
Hanwha Q Cells, a Germany-based solar power business unit of Hanwha Group, is seeking to reinforce market expansion in Malaysia by introducing a module equipped with solar technology. Hanwha Q Cells has released its new high-performance solar module Q.PLUS at the International Greentech & Eco Products exhibition and conference, which kicked off in Malaysia on Wednesday.IGEM is one of Asia’s largest environmental exhibitions hosted by the Malaysian government, promoting green technology and eco-f
Sept. 10, 2015
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Youku chief wants to work with S. Korean creators
The president of Youku Inc., China's largest video-streaming website, said Thursday he hopes to cooperate with South Korea as his company pushes for a paid membership system and a peer-to-peer video-sharing technology."I try extremely hard to adjust to new changes with South Korean (content) creators," Frank Ming Wei told reporters ahead of a session at the Broadcast Worldwide conference in southern Seoul."That's the biggest reason I visited South Korea."Youku was founded in 2006 and now boasts
Sept. 10, 2015
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Black Lion vows to be Korea’s next top outdoors brand
Black Lion (www.blacklion.co.kr) is an outdoor brand that promotes an energetic image, known for its Korean-made products, customer service and moderate prices.“Despite the fact that there is no difference at all in functionality or materials used, prices vary according to brands. This is the reality with outdoor brands. I wanted to change this reality,” said CEO Lee Chun-sik.Black Lion’s apparel is also known for its functionality, design and colors. The brand offers over 200 products, includin
Sept. 10, 2015
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Chanel withdraws cosmetics shops from Incheon Airport
French fashion powerhouse Chanel has withdrawn its cosmetics and fragrances shops from the duty-free stores at the Incheon International Airport after negotiations over the store space fell through, its local branch office said Thursday. Chanel Korea had negotiated with Lotte Duty Free and Hotel Shilla, South Korea's top two duty-free operators, to renew its contract for cosmetic sales at the nation's main gateway, but failed to reach an agreement. It closed three cosmetic shops within the duty-
Sept. 10, 2015