Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Samsung's heir apparent plans to make more overseas trips: sources
Samsung Electronics Co. Vice Chairman Lee Jae-yong, the heir apparent of the family-controlled conglomerate Samsung, plans to make more overseas business trips down the road to foster new growth engines for the company, industry sources said Wednesday.Lee's plans to go abroad come as state prosecutors are looking into allegations that Samsung Group actively stamped out any moves to create labor unions among its affiliates, This has fueled negative public sentiment toward Samsung as a whole and m
April 4, 2018
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Korean start-ups thrive in Fairfax County
By Gerald L. Gordon If you are familiar with Fairfax County, Virginia, located just outside Washington, DC, then you are likely familiar with the fact that we are home to one of the largest Korean-American populations in the United States. In fact, according to the 2010 US Census, more than 60 percent of all Korean-Americans living in Virginia are located in Fairfax County. Therefore, it should come as no surprise that Fairfax County is home to nearly 60 Korean-owned businesses.There are a broad
April 4, 2018
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Top chipmakers account for 40% of all big biz investments in 2017
Korea's top two chipmakers, Samsung Electronics Co. and SK hynix Inc., accounted for a whopping 41 percent of all investments made by the country's major conglomerates in 2017, industry data showed Wednesday.According to the research conducted by industry tracker CEO Score, 341 affiliates of the country's top 57 business groups invested a combined 85.9 trillion won ($80 billion), rising 35.2 percent from a year earlier.Investments in facilities and other tangible properties jumped 40.6 percent o
April 4, 2018
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[Newsmaker] Ex-Samsung CEO Kwon becomes legendary salaryman in Korea
Kwon Oh-hyun, a former chief executive officer of Samsung Electronics who retired late last year, was the highest-paid man in South Korea last year, earning far more than the owners of chaebol including the tech giant’s de facto leader Lee Jae-yong.According to an annual business report released by Samsung Electronics, Kwon received a total of 24.38 billion won ($23 million) in annual salary last year, three times higher than what he had earned a year before. Kwon had served as the vice chairman
April 3, 2018
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McDonald’s donates W300m for Ronald House project
A local unit of a US fast food chain McDonald’s donated 300 million won to build a temporary residence for families with children in hospital in the nation’s southeastern region.The donation was delivered as part of events to celebrate its 30th anniversary here. Out of profits made from selling Big Mac and Happy Meal sets, Joh Ju-yeon, managing director of McDonald’s Korea delivered the check to Jeffrey Jones, chairman of Ronald McDonald House Charities Korea, a non-profit organization aimed at
April 3, 2018
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IP office to offer online English training session
The Korean Intellectual Property Office said Tuesday that it will operate an online IP education curriculum in English, using a platform it jointly developed with the World Intellectual Property Organization and the Korea Invention Promotion Association.Applicants may sign up for the Advanced International Certificate Course at the IP Discovery website (http://www.ipdiscovery.net) until May 9 and online courses are to start immediately upon registration, according to KIPO.“The semi-yearly 12-wee
April 3, 2018
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Electro Mart targets to open 10 more outlets by year-end
Discount chain E-mart’s Electro Mart said Tuesday that it would open 10 more outlets and achieve 500 billion won ($470 million) in sales by the end of this year.Electro Mart, which specializes in electronics, was launched in 2015 and currently runs 20 outlets across the country, including one in Changwon, South Gyeongsang Province, slated to open Friday. The company said its sales reached 337 billion won last year, rising twofold over just a year. Officials said they expect sales to hit 500 bill
April 3, 2018
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WeMakePrice’s 2017 sales jumps 28 percent
Annual sales of South Korean e-commerce company WeMakePrice jumped 28 percent last year to 473 billion won ($445 million), well exceeding its competitors’ sales growth average of 19.2 percent, the company said Tuesday. WeMakePrice (WeMakePrice)The increase in sales has been attributed to reducing operating losses, as it logged 41.7 billion in losses, a 34.4 percent drop from last year.Its operating loss rate, calculated by net loss divided by turnover, recorded 8.8 percent, in the single digits
April 3, 2018
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Starbucks Coffee Korea launches order service via Samsung’s Bixby
Starbucks Coffee Korea said Tuesday that customers are now able to order menu items via voice commands to Bixby, Samsung’s artificial-intelligence based virtual assistant, which has been linked to Starbucks Coffee Korea’s mobile order and payment app Siren Order. A model orders from the Starbucks menu via Samsung’s Bixby. (Starbucks Coffee Korea)“Customers can order as if they are talking to a barista at our Starbucks store, such as asking for more syrup or extra whipping cream,” said a Starbuck
April 3, 2018
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Chicken franchise sales rise in 2017 amid struggling affiliated outlets
Sales of South Korea's major chicken franchises rose in 2017 from the previous year amid a growing number of affiliated outlets going out of business due to intense competition, industry sources said Tuesday.Fried chicken and beer, called "chimaek" in South Korea, is one of the most popular foods in the country along with soju and samgyeopsal, or grilled pork belly.Kyochon, the biggest franchise, posted a 9.5 percent increase to 318.8 won ($301 million) in sales last year from a year earlier.BHC
April 3, 2018
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DFS operating profits nosedive amid keen competition, Chinese sanctions
Operating profits of South Korea's duty-free shops declined sharply in general last year due to the cutthroat competition to attract Chinese tourists, and over Beijing's economic retaliation against the deployment of a US anti-missile defense system here, industry sources said Tuesday.Chinese travel agencies have suspended sales of tour packages to South Korea as part of the retaliation against the stationing of the Terminal High Altitude Area Defense system on South Korean soil last year. Seoul
April 3, 2018
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BTS becomes new models for LG Electronics' smartphones
LG Electronics Inc. said Tuesday it clinched a contract with South Korea's popular K-pop band BTS to promote its smartphones in the global market.Under the agreement, BTS will promote LG Electronics' smartphones, including a new flagship model expected to be unveiled in June, through advertisements and various other platforms, including social media.The company said it hopes that BTS, which boasts popularity not only in South Korea, but in the United States, Europe and South America as well, wil
April 3, 2018
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Bumpy road ahead to finalizing trade deal with US
Despite President Moon Jae-in hailing the latest negotiations to revise the free trade agreement with the US as a “great achievement,” the South Korean government remains flustered as the US side continues to make claims outside of the agreement.“The quick completion of the trade negotiations with the US amid heightened protectionism is a great achievement as it has removed uncertainties in the global economy,” Moon said during a meeting with his chief aides in the Blue House on Monday.“Addressi
April 3, 2018
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Incheon Airport celebrates 17th anniversary
Incheon International Airport celebrated its 17th anniversary last week, vowing to become an airport of smart technology and handle up to 130 million passengers by 2027. Incheon International Airport (IIAC)The ceremony, held on Thursday, was attended by some 400 airport employees, officials from the Ministry of Land, Infrastructure and Transport as well as airlines and partner companies.Incheon International Airport CEO Chung Il-young said “Incheon International Airport was able to take a leap a
April 2, 2018
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Orion wins Choco Pie trademark case in Vietnam
South Korean confectionery company Orion said Monday that it has recently won a trademark suit against a Vietnamese company for its signature product Choco Pie. Orion’s Choco Pie sold in Vietnam (Orion)According to Orion, a Vietnamese confectionery company was found to have been using Choco Pie trademark for their products in 2015. Orion has been using Choco Pie trademark since 1994 in Vietnam. Orion reported the case to the Vietnam Intellectual Property Research Institute as trademark infringe
April 2, 2018
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LS C&S implements system to get employees to leave work on time
LS Cable & System Corp. said Monday it has begun implementing a system in which employees can leave work on time without putting in extra hours that was part of the corporate environment in the past.The move comes as the National Assembly passed a revision to the Labor Standards Act last month to reduce the maximum statutory working hours to 52 hours a week from the current 68 hours. (Yonhap)Under the revision, working hours per week will be limited to 40 hours of weekday work and up to 12 hours
April 2, 2018
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Regulator finds 32 cases of alleged hiring irregularities at KEB Hana Bank
A three-week probe by Korea's financial regulator found 32 cases of alleged hiring irregularities at KEB Hana Bank in 2013, the regulator said Monday.The Financial Supervisory Service launched a probe on March 13 after its former governor, Choe Heung-sik, resigned over allegations that he was involved in hiring irregularities at the bank for which he served as president.The probe confirmed that Choe asked KEB Hana Bank, which was known as Hana Bank at the time, to hire the son of a colleague in
April 2, 2018
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Food companies woo health-conscious consumers with low calorie foods
South Korean food companies are introducing low calorie ice creams, instant noodles and other products to meet demand from the growing number of health-conscious consumers, industry sources said Monday.Binggrae Co. recently began marketing its "Beauty Inside" ice cream, which has 50 percent less sugar and 80 percent less fat than other ice creams.A 110 milliliter Beauty Inside ice cream with natural sweeteners has only 70 kilocalories. Binggrae Co.`s "Beauty Inside" ice cream. (Photo courtesy of
April 2, 2018
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[Kosdaq Star] Time for Cafe24 to reap what it sows
This is the 53rd in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. — Ed.Profitability is undeniably the key prerequisite for a firm seeking an initial public offering on the second-tier Kosdaq market.Showing a stable income has long been the clearest signal for market operator Korea Exchange and other relevant financial authorities to predict an IPO-aspirant company’s stock performance.But with changes in the speed and characteristics of the tech-savvy mar
April 1, 2018
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E-Mart to sell cereals made of edible insects
Korean discount store chain E-Mart will be the first in the country to provide cereals made of edible insects.The superstore chain said Sunday that it will sell three varieties of “Futureal” starting this month, which are cereals developed by Future Food Lab, made of edible insect powders and mushrooms. Futureal (Photo courtesy of E-Mart-Yonhap)Futureal, weighing 30 grams and costing 2,400 won ($2.26) per package, contains about 1.5 to 2.5 times more protein compared to ordinary cereals. The cer
April 1, 2018