Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Korean hospital to open fertility clinic in UAE
A major South Korean hospital plans to open a fertility clinic in Dubai, the United Arab Emirates, within this year, its officials said Friday.The Cheil General Hospital & Women's Healthcare Center in Seoul signed a deal with Al Garhoud Private Hospital on the project.The center, specializing in treating infertility, will be established at the Dubai hospital founded in 2012.Cheil agreed to offer every necessary support including medical staff and relevant technologies.Technologies to be transfer
June 3, 2016
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Prosecutors summon former chiefs of Lotte Mart, Homeplus
South Korean prosecutors on Friday questioned the former heads of major discount chains Lotte Mart and Homeplus as part of their high-profile probe into the toxic humidifier disinfectant scandal.The Seoul Central District Prosecutors' Office summoned Lee Chul-woo, former chief executive of Lotte Mart, and Lee Seung-han, former president of Homeplus. Both led the companies when the retailers sold allegedly toxic humidifier disinfectants between 2004 and 2011.In 2012, some victims of the hazardous
June 3, 2016
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Hanjin chairman reelected to IATA board
Hanjin Group chairman Cho Yang-ho was reelected on Thursday to serve on a board and strategy committee of the International Air Transport Association, Hanjin’s subsidiary Korean Air said Friday.The association held its annual meeting in Dublin, Ireland on Thursday local time, and announced that Cho will continue to serve on the IATA board of governors and its strategy and policy committee for the next three years. Hanjin chairman Cho Yang-ho (top row, fifth from left) poses with IATA’s board of
June 3, 2016
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Peacock surges ahead as it expands distribution
E-mart‘s instant meal brand Peacock is continuing to show notable growth in the home meal replacement category as the group expands the brand’s distribution network to encompass rival retailers.According to E-mart on Friday, sales of Peacock reached 66 billion won ($55.7 million) from January to May of this year, showing 37.5 percent on-year growth. Models pose with Peacock‘s Chinese cuisine products. (E-mart)If the brand retains this level of growth, it is estimated to reach 165 billion won in
June 3, 2016
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Daewoo Shipbuilding in final stage of crafting self-restructuring program
Embattled shipbuilder Daewoo Shipbuilding & Marine Engineering Co. is in the final stage of mapping out its self-restructuring scheme to raise some 5.2 trillion won ($4.39 billion), more than the previously proposed 4 trillion won, after coming under pressure from creditors and financial authorities to plan a stronger rehabilitation scheme, industry sources said Friday.Under the plan being crafted, Daewoo Shipbuilding intends to sell two of its five floating docks, which could translate into a 3
June 3, 2016
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Attracting global pharma companies key to sustained growth: FKI
The Federation of Korean Industries said Friday that the rising Korean biopharmaceutical industry will be unable to sustain growth without bringing in big pharma companies from abroad through tax breaks and customized infrastructure.Choo Kwang-ho, a senior official at FKI, said through a statement that it was important to attract foreign pharmaceutical companies now, when “global pharmaceutical companies are actively expanding into other countries.” An SK Biotek factory (SK Corp.)He also said,
June 3, 2016
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Samsung SDS mulls spit of logistics biz: sources
Samsung SDS, a key IT unit of Samsung Group, is considering splitting its logistics business and merging it with Samsung C&T Corp., the group's fashion and trading arm, industry sources said Friday.Samsung, South Korea's top family-controlled conglomerate, will likely announce a plan next week to split off Samsung SDI's global logistics division and combine it with Samsung C&T's trading segment, they said.The merger would help Samsung C&T form a competitive business portfolio and thus create syn
June 3, 2016
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Korea to double investment in clean energy by 2021
South Korea will spend more than 1 trillion won ($841 million) by 2021 on research and development of clean energy as part of international efforts to reduce greenhouse gas emissions and fight climate change, the government said Friday.It will mark twice the amount earmarked for clean energy research and development this year, according to the Ministry of Trade, Industry and Energy.The plan was announced at the inaugural ministerial meeting of Mission Innovation in San Francisco, where South Kor
June 3, 2016
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Hyundai Heavy bags order for 2 LNG carriers
Hyundai Heavy Industries Co., an embattled shipbuilder, has clinched a deal estimated at $400 million, to build two liquefied natural gas carriers, industry sources said Friday.According to the sources, Hyundai Heavy has won the order from SK E&S Co., a local LNG importer, to build the two vessels, which can each carry 180,000 cubic meters of LNG.The vessels will be delivered starting in the first half of 2019, the sources said.Hyundai Heavy and other local rivals, such as Samsung Heavy Industri
June 3, 2016
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Samsung Heavy considers stock sale, sister firms' participation in focus
Samsung Heavy Industries Co., a shipbuilding unit of the country's top conglomerate Samsung, has included a stock sale in its latest self-restructuring program, spawning speculation that its affiliates, including Samsung Electronics Co., may join forces to salvage the embattled shipyard, industry sources said Friday.According to the sources, Samsung Heavy's self-rescue plan to raise 1.5 trillion won ($1.26 billion), provisionally approved by its creditors, includes asset sales and a cut in the w
June 3, 2016
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Minister vows to support overseas entry of bio drug products
The government Thursday vowed to support Korean biopharma products in their efforts to expand overseas during a meeting with top executives of major firms.In the meeting held to hear from industry’s concerns on research and development in biopharma products, Minister of Food and Drug Safety Sohn Mun-gi said he would seek ways to strengthen exports and support the manufacturing of Korean bio products developed by researchers. Minister of Food and Drug Safety Sohn Mun-gi (Yonhap)The meeting was a
June 2, 2016
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Health considerations fuel Korea’s probiotics market
Like many others, Lee Jun-sung, a 33-year-old office worker living alone in Seoul, spends most of his day sitting at his office. He also eats out frequently and drinks several times a week with clients — all of which have steadily taken a toll on his physical health.Seeking to relieve his indigestion as well as hangovers, Lee started taking a probiotic supplement every morning upon a friend’s recommendation that probiotics can improve intestinal health.Cell Biotech’s Duolac“Since I began taking
June 2, 2016
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[Consumer This Week] Lucky Chouette, KT&G, E-mart, MCM, Dior, Pepero
Lucky Chouette offers virtual fittingsCasual fashion brand Lucky Chouette will be testing out a virtual fitting service called “Try Clothes Online” until the end of July.Try Clothes Online is a collaborative service provided by British IT start-up Metail and Kolon Benit. Consumers will be able to virtually try on 100 looks from Lucky Chouette’s spring-summer collection using an avatar customized to the user’s body measurements.The service will recommend optimal sizes for the items chosen by user
June 2, 2016
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Organica juices now available at CU
Just Juice Cleanse, a line of premium cold-pressed detox juices from Herald Corp. affiliate Organica, is now available at CU convenience stores nationwide, Organica said Thursday.The detox juices will be available at 9,800 CU convenience stores in three flavors exclusively made for the chain: Light Green, Strengthening Shine and Pretty Pine. Each flavor retains the health benefits and nutrients of its ingredients thanks to Organica‘s unique high-pressure processing method while appealing to popu
June 2, 2016
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Safety concerns growing over AmorePacific’s lip product
A growing number of consumers who purchased lip products by Aritaum, cosmetic giant AmorePacific’s budget brand, are claiming to have adverse skin reactions after applying the product, according to local reports Thursday.Online posts showing swollen lips and pustular eruptions have been uploaded by users who have complained the symptoms began only after applying Aritaum Volume-Up Oil Tint.Aritaum’s Volume Up Oil Tint (AmorePacific Mall)Reports by Environment TV quoting a dermatologist said the s
June 2, 2016
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Korea’s asset management firms eye global markets
South Korean asset management companies are increasingly eyeing global markets to seek higher returns, as local capital markets face low interest rates, industry officials said Thursday.The number of overseas offices operated by Korean asset management companies more than doubled to 35 as of the end of 2015 from 14 in 2008, according to data by the Korea Financial Investment Association.The head office of the Korea Financial Investment Association in Seoul. (KOFIA)Among 35, 14 are run by Mirae A
June 2, 2016
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Global chat app LINE under suspicion of overseas listing push
LINE Corp., the Japanese arm of South Korea's Internet giant Naver Corp., is suspected of pushing to list shares on overseas markets in a bid to allow its staff to exercise stock options for a profit, market watchers said Thursday.Headquartered in Japan, LINE Corp. operates the mobile messenger LINE that is extremely popular in Japan, Thailand, Taiwan and Indonesia. The number of LINE's monthly active users came to 215 billion as of December last year.LINE, the flagship of Naver, has been engulf
June 2, 2016
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Korea's big 3 shipyards clinch no orders in May
South Korea's top three shipbuilders failed to clinch any new orders last month, mirroring a protracted slump in the global shipbuilding sector, industry data showed on Thursday.According to the data compiled by global research firm Clarkson Research Services, the nation's top three shipyards -- Hyundai Heavy Industries Co., Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. -- won no new orders last month.But Hyundai Mipo Dockyard Co., an affiliate of Hyundai Heavy In
June 2, 2016
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Hanjin Shipping faces hurdles in charter rate cut negotiations
Financially troubled Hanjin Shipping Co. has not made any progress in its negotiations with the owners of its chartered ships to cut leasing rates, one of the key preconditions set by its creditors to avert court receivership, industry sources said Thursday.According to the sources, the country's No. 1 container shipping line had contacted the owners of its charter fleet to slash the rates, but failed to receive any "positive" responses from them.The shipper's struggle for the charter rate cut i
June 2, 2016
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Exports of fruits, vegetables jump 23% in 5 yrs
Exports of fruits and vegetables have grown 22.9 percent over the past five years on rising demand from Asian countries and the United States, customs data showed Thursday.A combined $304 million worth of fruit and greenstuffs were shipped overseas last year, up from $248 million in 2011, according to the data compiled by the Korea Customs Service. (Yonhap)Shipments of fruit including pears and strawberries rose 29.8 percent to $127 million over the five-year period, while exports of vegetables
June 2, 2016