Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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On May Day, labor unions blast Yoon's foreign nanny proposal
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Nuclear reactor suspended five days after restarting
A South Korean nuclear reactor came to a halt Thursday only five days after being restarted, due to lingering problems with its cooling system, its operator said.The No. 3 reactor at Hanbit Nuclear Power Plant in Yeonggwang, South Jeolla Province, automatically stopped operating when the reactor’s coolant pump ― which produces steam for cooling down the reactor ― suddenly stopped functioning on Thursday afternoon, according to Korea Hydro and Nuclear Power.The KHNP announced that no radioactive
April 16, 2015
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Eugene Corp. to jump into duty-free race
Eugene Corporation, a midsize Korean construction material company, will join the bid to win a license for an urban duty-free store in Seoul, the company said on Thursday. “Eugene has been considering entering the duty-free business internally. I believe that we have the management ability and investment capability to operate the store,” Yim Jin-taek, a Eugene spokesman said. The company plans to house a 9,900-square meter duty-free store in the former headquarters of local broadcaster MBC. The
April 16, 2015
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[Photo News] LG innovation center
April 16, 2015
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Seoul Station gets smoother airport connection
Travelers will be able to get easier access to and from Incheon airport as a new subway transfer passageway in Seoul Station opened last month, officials said. The new passageway provides foreign tourists with easier transfer as it links Incheon Airport Railroad Express, a nonstop train from Seoul Station to Incheon International Airport, to Seoul subway lines 1 and 4, according to AREX officials. The waiting rooms for Line 1 and 4 located in the first and third lower level floor of Seoul Statio
April 16, 2015
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French confectionery firm La Cure debuts in Korea
French confectionery brand La Cure Gourmande opened its first Asian outlet in Lotte Department Store Sogong-dong branch in central Seoul, last week. The 36-square-meter store is conspicuously decorated in sunshine yellow, with more than 30 kinds of candies, cookies, caramels and chocolates, all imported from France. On the very first day, it grossed the highest sales in the department store’s food section. What makes the store different from other famous dessert shops, such as fellow French bran
April 16, 2015
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KOGAS successfully raises roof of LNG storage tank
The state-run Korea Gas Corp. said Wednesday it has successfully placed a roof on its 270 million liter LNG storage tank in Samcheok, Gangwon Province ― the first and largest of its kind.The storage tank is one of three 270 million liters tanks currently under construction, with the new roof placed on tank No. 11. KOGAS plans to place a roof on tank No. 10 on April 22.The new roof weighs 1,210 tons. It was constructed on the ground, with KOGAS using a compressed air technique to raise the roof f
April 16, 2015
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Mobile carriers to delete users' fingerprints
South Korea's mobile carriers will destroy some 900 million fingerprints collected from their customers over the years for ID verification purposes, the telecommunication watchdog said Thursday, amid growing concerns here about protecting private data. The Korea Communications Commission said the three mobile carriers -- SK Telecom Co., KT Corp. and LG Uplus Inc. - have agreed to delete the biometric information scanned from users' identification cards within this year."Mobile carriers admitted
April 16, 2015
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Audi Volkswagen emerges as No. 3 in S. Korea sales
Audi Volkswagen Korea, the local importer of the German company, outpaced GM Korea Co. in domestic sales last year, signaling a change in the car market that has been long dominated by major local makers, industry data showed Thursday.Audi Volkswagen Korea reported to financial authorities here that its domestic sales came to 2.7 trillion won ($2.47 billion) in 2014, the third-largest following Hyundai Motor Co. and Kia Motors Corp., the two homegrown carmaking giants.This is the first time that
April 16, 2015
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Officials to probe air accident in Japan
The Korean government dispatched a group of inspectors to Japan on Wednesday to find the exact cause of the accident involving an Asiana Airlines plane which overran a runway while landing at Hiroshima Airport.The Ministry of Land, Infrastructure and Transport said the inspection team would examine the plane’s black box and other records.“It is too early to determine the exact cause of accident. Korean ministry officials will join the investigation team in Japan to find out,” a ministry official
April 15, 2015
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GKL mulls casino on Yeongjongdo Island
Grand Korea Leisure, which runs three foreigners-only casinos in Korea under the “Seven Luck” brand, is reviewing a plan to open another casino in Yeongjongdo Island, Incheon, home to the Incheon International Airport. “It is true that we are conducting a feasibility study for a casino on the island, but no details (on the project) have been discussed yet,’’ Choi Ji-young, a company spokesperson said. The official comment came after a local economic daily reported that GKL has formed a partnersh
April 15, 2015
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E-Land partners with Chinese developer for luxury mansions
E-Land Group on Wednesday announced it will partner with Chinese golf resort developer Mission Hills in marketing super luxury mansions. The partnership will help Korea’s fashion-turned-lifestyle company attract Chinese tourists and investors to its leisure facilities, E-Land vice chairperson Park Sung-kyung said. Park signed a memorandum of understanding with Ken Chu, CEO and chairman of Mission Hills, at the Chinese business group’s headquarters in Shenzhen. Under the deal, Mission Hills will
April 15, 2015
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Hyundai Heavy may liquidate German wind energy units
Hyundai Heavy Industries, the world’s largest shipbuilder, said Wednesday that its German wind energy affiliates may be liquidated due to their prolonged losses.The Germany-based subsidiaries in question ― Jahnel-Kestermann Getriebewerke GmbH and JaKe Service GmbH ― have posted deficits ever since they were acquired by the Korean shipbuilder in 2011.“Many options, including liquidation, are being considered,” said Hyundai Heavy spokesman Ryu Geun-chan.“As our company is also experiencing difficu
April 15, 2015
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LS Cable to supply cables to Chinese automaker
South Korean electric cable company LS Cable & System announced Wednesday that it had become a direct supplier of high-voltage automotive cables to Dongfeng Motor, a leading Chinese auto company. LS Cable’s high-voltage cable sets ― used to connect components in automobiles ― will be installed on the electric car Venucia e30 starting next month.The Venucia e30 is an EV model produced by Dongfeng Nissan Passenger Vehicle, a subsidiary of Dongfeng based in China.Fueled by the Chinese government’s
April 15, 2015
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Hanwha clinches $200m medical deal with Iraq
Hanwha Group, the nation’s 10th-largest conglomerate, has won a $200 million project to establish hospital facilities and provide medical assistance in Bismayah, Iraq. Under the agreement, Hanwha Engineering and Construction will build the hospital on a 77,000 square meter plot of land. The group’s trade and commerce team will assign medical staff and manage the operation, Hanwha officials said Tuesday. The group is said to be in talks with Soon Chun Hyang University Hospital in Seoul for a par
April 14, 2015
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[SUPER RICH] ‘Tweaker’ superrich who innovated by imitation
Urban Dictionary defines a “tweaker” as someone who constantly makes slight alterations to an object ― typically a very specific one ― such as computers, automobiles and software. Several superrich have been made successful by applying this concept to the corporate world and tweaking preexisting business models as they would a car or software.Sam WaltonWal-Mart founder Sam Walton, who died in 1992, stated in his autobiography: “Most everything I’ve done I’ve copied from somebody else.”Walton set
April 14, 2015
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[SUPER RICH] Huge salary gap between Korean and U.S. superrich
How much do the superrich earn each year from their business achievements?Whenever salary statements of business heads are revealed, the company’s annual performance and achievements are evaluated as well. This is to determine whether the business head deserves the salary that he or she received. For this reason, the annual salary of a business head is often referred to as “compensation.”The Superrich Team looked into the annual salaries of both Korean and U.S. superrich by collecting data from
April 14, 2015
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Cheating website predicts success in Korea
Canadian-based cheating website Ashley Madison on Tuesday celebrated its resumption of services “in a very viable market” in Korea. Ashley Madison, a pro-adultery platform and dating website, was banned by the Korean government after two weeks of successful service in March 2014 for its potentially negative impact on Korean society, in which adultery was still illegal at the time. However, the law was changed in February this year when South Korea’s constitutional court overturned a 62-year-old
April 14, 2015
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Kakao Story is top social media in Korea: survey
Daum Kakao’s Kakao Story is the favorite social network service among South Koreans, beating global rivals such as Facebook and Twitter, according to the latest poll released Tuesday. The poll of 9,381 online users was conducted last year by local research firm Hankook Research.Among 6,700 social media users, or 70.5 percent of the total respondents, Kakao Story topped the list with 51.8 percent, followed by Facebook (28.5 percent) and South Korea’s largest portal site Naver’s Band (23.6 percent
April 14, 2015
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S. Korea's EV market to grow fivefold by 2016
South Korea's electric vehicle market is anticipated to expand more than fivefold by next year on the back of government subsidies to boost sales of the eco-friendly cars, ministry officials said Tuesday. As of the end of last year, the number of registered battery-powered cars in the country stood at 3,044 units, with subsidies to be provided for 3,090 units this year, according to the Ministry of Environment. With the addition of 150 billion won (US$136.82 million) that the environment ministr
April 14, 2015
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(Photo News) Power deal in Vietnam
Doosan Heavy Industries & Construction vice chairman Jung Ji-taek (front, left) and Lilama president Le Van Tuan (front, right) shake hands on Friday in Hanoi, Vietnam, after signing a deal to build a coal-fired power plant in Hau Giang, about 200 kilometers southwest of Ho Chi Minh City, by October 2019. (Doosan Heavy Industries& Construction)
April 13, 2015