Most Popular
-
1
Medical profs at top hospitals suspend surgeries, clinics
-
2
Samsung chip business back on track, logs W1.9tr operating profit in Q1
-
3
Exports to US reach all-time high, widen gap with China
-
4
Shinsegae faces showdown with investors over SSG.com's delayed IPO
-
5
Hopes rise for possible Gaza truce deal
-
6
Ex-pro baseball player who killed debtor appeals sentence
-
7
S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
-
8
Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
-
9
S. Korea to issue travel ban on Haiti amid intensifying gang violence
-
10
Leaders of S. Korea, Angola agree to boost economic, trade cooperation
-
Hyosung honors Korean War veterans in US
Hyosung Group thanked US veterans who fought in the 1951-53 Korean War for their sacrifice and courage at an event held in Huntsville, Alabama, officials said Wednesday.The South Korean conglomerate invited 65 veterans and their families in Alabama, where the head office of its US operation is located. Hyosung USA manufactures auto materials including tire cords and in-vehicle carpets for global carmakers and tiremakers that also operate plants in Alabama. “We express gratitude and pay respects
June 28, 2017
-
LS Group bets big on US power infra market
US President Donald Trump’s campaign pledge to expand public investment on infrastructure could be seen as only benefitting local companies there. But for LS Group, a South Korean conglomerate that runs power and cable businesses, Trump’s pledge on the public sector appears to be a golden opportunity.Such confidence comes from its 2008 acquisition of a US cable maker, Superior Essex (SPSX), which is the No. 1 maker of winding wire products and communication cables in North America.The deal made
June 28, 2017
-
Korean municipality to sell canned pure air in cooperation with Canadian firm
HADONG -- The town of Hadong in southeastern South Korea will sell canned fresh mountain air in a tie-up with a Canadian company amid growing concerns about air pollution, municipality officials said Wednesday.The municipality said it will hold a ceremony on Friday to mark the dedication of a plant on a site of 99 square meters in the town's Uisin Village to produce canned air coming from Mount Jiri in the region.According to them, the can of pure air with the trademark of Jiri Air, which carrie
June 28, 2017
-
Hanwha chairman at vanguard of Korea’s business ties with US
Hanwha Group Chairman Kim Seung-youn has been at the vanguard of fostering business cooperation with the United States, years before uncertainties emerged upon the inauguration of US President Donald Trump, who has expressed skepticism toward the two countries’ free trade agreement.Kim’s ties with leading business figures in the US, including Heritage Foundation President Edwin Feulner, has made him one of the rare South Korean business representatives who is able to bridge the differences betwe
June 28, 2017
-
Guri-Pocheon Expressway to open Friday
The new Guri-Pocheon Expressway is slated to open to drivers starting from Friday midnight.According to Daewoo Engineering & Construction, the new 50.6-kilometer stretch of highway will shorten the driving distance from the Seoul Gangdong region to Pocheon by 7 kilometers, condensing the drive from the current 70- to 90-minute trek to 30 minutes. A view of the new Guri-Pocheon Expressway (Daewoo E&C)“As it is the first highway constructed in the northeastern part of Seoul, it is expected to con
June 28, 2017
-
LG Electronics to tap deeper into chiller market
South Korean electronics firm LG Electronics Inc. said Wednesday it plans to tap deeper into the global chiller market currently dominated by U.S. rivals.The South Korean tech giant said the chiller market could become a new growth engine for its air-conditioning business, claiming that its sales will grow 10 percent annually down the road. A worker stands in LG Electronics Inc.'s production facility of chillers, located in Pyeongtaek, south of Seoul, in this photo released by the company on Jun
June 28, 2017
-
Samsung launches ISOCELL image sensor brand
Samsung Electronics Co. on Wednesday showcased its own image sensor brand dubbed ISOCELL, tapping deeper into the sector amid the rising demand from the Internet of Things industry.The South Korean tech giant said it introduced the brand during the Mobile World Congress Shanghai. Image sensors refer to system chips which detect images and transmit them into electronic signals. (Yonhap)Market watchers said Samsung's move to launch the ISOCELL brand came amid the rising demand for the products fro
June 28, 2017
-
Green Cross’s immunodeficiency drug to debut in US soon
Green Cross will soon be ready to make its full-fledged debut in the US market, with the aim of taking a share of the world’s largest pharmaceuticals market.The Korean biopharmaceuticals company is expected to win the US Food and Drug Administration’s approval for its immunodeficiency drug IVIG-SN -- human normal immunoglobulin G for intravenous administration -- within this year, according to the firm and analysts. IVIG-SN, exclusively developed by Green Cross, treats primary immunodeficiency d
June 28, 2017
-
Korean Air, Delta offer closer connectivity in Pacific
Korean Air has been making aggressive moves to expand its operation in the US, most recently by joining hands with Delta Air Lines to offer more efficient connectivity between Asia and the United States through merging the two airlines’ operations in the Pacific.On June 23, the two Skyteam airlines sealed the joint venture agreement at a ceremony in Los Angeles.“Korean Air has the most routes in the Asia-Pacific region, while Delta is the world’s largest airline with an extensive network in the
June 28, 2017
-
Doosan Heavy sinks on construction halt of 2 nuke reactors
Doosan Heavy Industries & Construction Co., South Korea's top power equipment maker, traded sharply lower Wednesday after the government said it would halt the construction of two nuclear reactors for three months in order to gauge public opinion on the atomic power generation.Doosan Heavy stocks were trading at 20,600 won ($18) on the Seoul bourse as of 1:30 p.m., down 4.63 percent from the previous session's close and nearing their lowest level in one year. (Yonhap)On Tuesday, the government s
June 28, 2017
-
Lotte eyes consulting body to boost biz efficiency of its retail affiliates
South Korea's fifth-largest conglomerate Lotte Group said Wednesday it plans to create a consultative body to boost business efficiency for its retail affiliates.The retail giant said the group will be comprised of teams in charge of procurement, facility, design, public relations and new businesses at its 14 retail-related affiliates.Employees enter a Lotte Group office building in downtown Seoul on Aug. 26, 2016. (Yonhap)The plan is aimed at improving business efficiency and maintaining consis
June 28, 2017
-
Micro EVs set to hit Korean market
A range of ultra-small electric vehicles are poised to hit the South Korean market amid growing consumer interest in eco-friendly cars that can be bought cheap with state subsidies, industry sources said Wednesday.Renault Samsung Motors Corp., the South Korean unit of French carmaker Renault S.A., and local smaller players are set to tap into the market for battery-powered micro EVs that have emerged as a new means of urban transport.Renault Samsung's Twizy micro electric vehicle (Photo courtesy
June 28, 2017
-
Jeju Air to open Nha Trang route in July
Jeju Air Co., a South Korean low-cost carrier, said Tuesday it will start flights to Vietnam's Nha Trang starting next month.The route is the latest move by the budget carrier to expand into Southeast Asia and Japan not only to absorb the growing travel demand but also to offset sharp declines in passengers from China.Beijing banned the sale of travel packages to South Korea starting March 15 in retaliation against Seoul's deployment of the Terminal High Altitude Area Defense system. A Jeju Air
June 27, 2017
-
Proposed legislation seeks equal taxes for heated tobacco products
A new bill seeking to apply equal taxes to heated tobacco products as those imposed on combustible cigarettes in Korea was introduced to the National Assembly earlier this month, claiming that all harmful tobacco products must be regulated the same way. IQOS from Philip Morris International (PMI)According to the National Assembly‘s Bill Information System, Rep. Kim Kwang-lim of the Liberty Korea Party has prepared bills to revise three laws that govern taxation on tobacco products to allow equal
June 27, 2017
-
LG makes major push into energy, automobiles in the US
LG Group is making a major push into energy storage and automotive electronics in the US market in seeking the group’s next growth engine. LG’s tech arms, LG CNS, LG Chem and LG Electronics, have recently jumped into the US market with its energy storage system, or ESS business. ESS captures energy produced for use at a later time, aiming to improve energy efficiency.The US ESS market -- which is fast growing and already the world’s largest due to its aging grid infrastructure -- is predicted to
June 27, 2017
-
Investigation against LNG bidding collusion to wrap up next month
The Seoul Central District Prosecutor’s Office announced Tuesday it is speeding up its investigation into alleged large-scale collusion among Korea’s major construction companies, which are suspected of bid rigging a project to build liquefied natural gas storage tanks. Last year 13 construction companies, including Hyundai E&C, Daewoo E&C and Daelim E&C, were slapped with 351.6 billion won ($309.2 million) in fines by the Fair Trade Commission after the governmental watchdog accused the builde
June 27, 2017
-
Samsung to release refurbished Galaxy Note 7 on July 7
Samsung Electronics Co. plans to release the refurbished edition of the ill-fated Galaxy Note 7 smartphone next month, industry sources said Tuesday.According to the sources, Samsung will release the smartphone under the name the Galaxy Note FE, with a price tag below 700,000 won ($616). Official sales are slated to start July 7. (Yonhap)The South Korean tech giant suspended production and sales of the Galaxy Note 7 last year amid reports that some of the devices caught fire while charging. A pr
June 27, 2017
-
Shares of Hyundai Heavy, other shipyards stung by low oil prices
Hyundai Heavy Industries Co. and other major shipyards in South Korea have seen their stock prices slide for days due to a fall in oil prices, analysts said Tuesday.Hyundai Heavy was trading at 173,000 won ($152) on the Seoul bourse as of 10:10 a.m., down 0.29 percent from the previous session's close. The price is down from its yearly high of 187,500 won on June 14.Its smaller rival Samsung Heavy Industries Co. was quoted at 12,500 won, down 1.19 percent, extending its losing streak to a second
June 27, 2017
-
Kia to launch Stonic SUV in Korea next month
Kia Motors Corp., South Korea's second-largest carmaker, said Tuesday it will add a new SUV to its lineup next month to boost sales. Kia Motors has developed the Stonic subcompact SUV as part of its efforts to absorb growing demand for SUVs at home and abroad amid a global economic recovery and low oil prices."The B-segment SUV market has grown fast in the past five years since 2013 to 110,000 units in South Korea. The Stonic is to attract customers in their 20s and 30s who put price and fuel ef
June 27, 2017
-
E-Mart to focus on online mall, Electro Mart, No Brand: vice chairman
Shinsegae Group Vice Chairman Chung Yong-jin said Tuesday that E-Mart, South Korea's largest discount store outlet, will focus on its online shopping mall, electronics retail and "No Brand" products to generate future growth.Speaking to a group of employees of E-Mart, an affiliate of Shinsegae Group, at the company's headquarters in Seoul, Chung said the focus should be put on the development of key promising business sectors.A file photo of Shinsegae Group Vice Chairman Chung Yong-jin (Yonhap)H
June 27, 2017