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
Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
-
5
Shinsegae faces showdown with investors over SSG.com's delayed IPO
-
6
Hopes rise for possible Gaza truce deal
-
7
Ex-pro baseball player who killed debtor appeals sentence
-
8
S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
-
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
-
GS Energy affiliate sales faces delays, hurdles
GS Energy, the holding company of GS Group’s energy businesses, is facing delays and structural hurdles in selling its majority stakes in its two city gas affiliates in South Korea, according to industry sources Tuesday. Since officially putting its 49 percent stake held in each of its two gas-providing affiliates, Haeyang City Gas and Seorabeol City Gas, on the market last month, GS has halted further procedures on the deal.“All proceedings have been put on hold, and no future agendas regarding
Jan. 12, 2016
-
Hyundai Motor‘s Genesis debuts in U.S.
Hyundai Motor’s G90 Genesis sedan made its U.S. debut this week, highlighting the auto conglomerate’s aspirations to take a bigger slice of the world’s largest high-end car market. The G90 was showcased at the North American International Auto Show that opened Monday. Sold as the EQ900 in South Korea, the G90 is Hyundai’s flagship premium sedan model launched under the Genesis brand in December 2015. Hyundai Motor Co.`s G90 Genesis is unveiled at the North American International Auto Show on Mo
Jan. 12, 2016
-
Samsung to create panel for monitoring occupational diseases
Samsung Electronics on Tuesday agreed to create an independent panel for monitoring overall work conditions to help prevent occupational diseases. The world’s largest electronics company signed a deal outlining these and other measures for improving employee health and safety with groups representing leukemia patients and their families who claim the disease comes from working at Samsung factories. A Samsung Group flag flies outside Samsung headquarters building in Seoul. (Yonhap)Controversy ov
Jan. 12, 2016
-
Tonymoly to enter Sephora stores in Europe
South Korean cosmetic maker Tonymoly said Tuesday it will display its beauty products in Sephora, a French cosmetics store chain, stepping up its global expansion beyond Asia and North America. Tonymoly has signed a deal with the Louis Vuitton Moet Hennessy-owned chain to sell 35 selected products at 825 stores in 15 European nations starting from April. Tonymoly has been stepping up its overseas bids after going public on the Seoul bourse last year to tap deeper into China for new growth beyond
Jan. 12, 2016
-
Kia Motors workers accept wage deal
Unionized workers at South Korea’s Kia Motors have voted for a tentative deal on their salary, bonus and other working conditions at the firm’s annual wage talks, company officials said on Tuesday.On Monday, more than 60 percent of the unionized employees who cast their ballots voted in favor of a deal reached between the union leaders and Kia management last Wednesday. Employees drive Kia Motors’ Picanto vehicles at the port of Pyeongtaek in Pyeongtaek, South Korea. BloombergThe agreement outli
Jan. 12, 2016
-
Lotte Mart under probe for unfair meat trade
South Korea‘s No. 2 discount chain is under investigation for allegations of unfairly pressuring a supplier into selling pork belly below production cost, the antitrust watchdog said Tuesday.A source at the Fair Trade Commission said since December investigators have been looking into allegations that Lotte Mart forced some suppliers to sell at below the cost of production. Lotte also allegedly insisted that the meat producers cover shipment and credit card payment-related expenses. “A supplier
Jan. 12, 2016
-
Asiana settles with 29 passengers over San Francisco crash
More than half of the 53 passengers have dropped a class suit for compensation against Asiana Airlines over a crash landing in San Francisco in 2013 as they settled with the air carrier, according to their legal representatives Tuesday.An attorney of Barum Law LLC said 29 clients have reached settlements for “a satisfactory sum.” They also have agreed not to reveal the amount of settlement money. The law firm filed the complaint on June last year in the Seoul Central District Court on behalf of
Jan. 12, 2016
-
Kia Motors workers approve annual wage deal
Unionized workers at Kia Motors Corp., South Korea's second-ranked carmaker, have accepted a tentative deal on their salary, bonus and other working conditions during annual wage talks, company officials said Tuesday.In a yes-or-no vote Monday, 18,346 workers, or 64.3 percent of those who cast ballots, supported the deal reached between their leaders and management last Wednesday, according to the officials.Under the deal, both sides agreed to an 85,000 won hike in base pay and a 400 percent bon
Jan. 12, 2016
-
Lotte Mart under probe for unfair pork belly trade
A Lotte Mart employee packs pork in the meat section of the company‘s supermarket at Lotte Mall Gimpo Airport branch in Seoul, South Korea. (Bloomberg)Lotte Mart, South Korea's No. 2 discount chain, is under investigation for allegations of unfairly pressuring a supplier into selling pork bellies below production cost, the antitrust watchdog said Tuesday.A source at the Fair Trade Commission said investigators have been checking the retailer since December after a local pork producer raised comp
Jan. 12, 2016
-
Honda, Volvo take top awards at the Detroit auto show
The Honda Civic has been named North American Car of the Year. The truck of the year is the Volvo XC90.The press preview days for the North American International Auto Show officially kick off with the awards. The announcements came Monday morning at Cobo Center in Detroit.The other finalists in the car category were the Chevrolet Malibu and Mazda MX-5 Miata. The Nissan Titan XD and Honda Pilot also vied for the truck award.About 55 automotive journalists vote on winners from the list of finalis
Jan. 11, 2016
-
FTC to file complaints against Doosan E&C
The Fair Trade Commission will file a complaint against Doosan Engineering and Construction with prosecutors for illegally exercising its voting rights for its branch unit, despite the antitrust watchdog’s stock disposition order issued in 2013.According to FTC officials Monday, the construction arm of Doosan Group was ordered to dispose its shares in Neo Trans, a subway operating company that the builder established in 2005. The nation’s antimonopoly law bans subsidiaries of a holding company f
Jan. 11, 2016
-
Lotte Duty Free workers call for license extension
Unionists of Lotte Duty Free on Monday urged Finance Minister nominee Yoo Il-ho to extend the state license to continue operating its Jamsil store in southeast Seoul for another five years from the scheduled shutdown in June. Lotte lost the bid in November after the Korea Customs Service, a Finance Ministry affiliate, slashed the validity of the license to five years from the previous 10 years. Though the company promised job security for all 1,100 regular and temporary workers at the Jamsil sto
Jan. 11, 2016
-
Samsung Bioepis faces patent suit by Amgen
Samsung Bioepis, an affiliate of Samsung Group specializing in developing biosimilars, or cheaper, generic copies of biologic drugs, has been sued by U.S.-based pharmaceutical giant Amgen for patent infringement in Canada.Amgen Canada filed for a prohibition order on July 31, 2015, claiming Brenzys, Samsung Bioepis’ biosimilar copy of Amgen’s blockbuster rheumatoid arthritis treatment Enbrel (Etanercept), breached two patents held by Amgen, according to Canadian court documents and Samsung Bioep
Jan. 11, 2016
-
OCI sells U.S. affiliate for $227 mln
OCI Co., a South Korean solar power energy firm, said Monday that it has decided to sell a U.S. affiliate for $227 million to improve its financial status and secure funds for business projects.In a regulatory filing, OCI said it has agreed to sell OCI Alamo 7 LLC to ConEdison Development, a U.S. developer and operator of large-scale renewable energy projects.OCI Solar Power has been constructing the Alamo 7 solar plant in Haskell, Texas. The Alamo 7 plant is part of a 400-MW solar power project
Jan. 11, 2016
-
Kia Motors unveils all-new K7 sedan
Kia Motors Corp., South Korea's second-ranked carmaker, disclosed its full change version of the K7 large-size sedan on Monday equipped with its own eight-speed transmission that enhances overall fuel efficiency and driving performance.The all-new K7, whose official sales will start in late January, was disclosed to the media early in the day during a preview event at its Namyang R&D Center, southwest of Seoul.Equipped with its own front-wheel eight-speed transmission for the first time, the lat
Jan. 11, 2016
-
Samsung SDI showcases most power-efficient EV battery
Samsung SDI Co., the battery-making unit of the Samsung Group, on Monday showcased its latest battery cell for electric vehicles, which can run 600 kilometers once fully charged.The company said it plans to start mass production of the prototype battery cell, unveiled at the North American International Auto Show in Detroit, in 2020. The performance beats the previous record of 500 kilometers.Samsung SDI estimates the global market for EVs, which stood at 278,000 units in 2015, will reach 1.16 m
Jan. 11, 2016
-
Kakao to acquire MelOn operator
Kakao Corp., the country’s leading mobile messenger operator said on Monday that it will acquire a controlling stake in music streaming company LOEN Entertainment. Kakao will purchase a 76.4 percent stake worth 1.87 trillion won ($1.54 billion) in LOEN, operator of MelOn. Kakao’s mobile messenger KakaoTalk is used by around two-thirds of South Korea’s 50-million population. LOEN’s MelOn has 28 million local users.“Music is one of the most loved content genres in the mobile era,” said Jimmy Rim,
Jan. 11, 2016
-
Panel makers set sights on curved TV panels amid slump
Global panel makers are poised to ramp up their production of curved models this year in an effort to find a new source of profit amid a slowing global TV market, industry sources said Monday.According to data compiled by China-based market tracker Sigmaintell, global shipments of curved liquid crystal displayTVs are expected to reach 12.5 million units in 2016, up sharply from the 6.1 million units last year.In 2015, Samsung Display Co. was the largest vendor of curved display TVS with shipment
Jan. 11, 2016
-
POSCO to present steel technology at Detroit auto show
South Korea’s leading steelmaker POSCO said Sunday it is showcasing its automotive steel plate technology for the first time at this year’s North American International Auto Show taking place in Detroit, Michigan, from Jan. 11-24.Aiming to appeal to global automakers, POSCO is presenting its self-developed advanced automotive steel technology and some 30 types of futuristic car components to be used in next-generation cars at the annual U.S.-based auto show.The steelmaker will be promoting its s
Jan. 10, 2016
-
Korean drugmakers seek deals at JPMorgan health care conference
Eyeing new partnerships and foreign investments, South Korea’s leading pharmaceutical companies are participating in the 34th JP Morgan Healthcare Conference which kicks off Monday in San Francisco. The annual U.S.-based event, set to continue until Thursday, is one of the largest and oldest health care symposiums in the world. Each year, more than 300 companies have flocked to the conference hosted by the investment bank, on the lookout for biotech and pharma companies primed for major breakthr
Jan. 10, 2016