Most Popular
-
1
Tensions heighten ahead of first president-opposition chief meeting
-
2
Seoul to provide housing subsidy to married couples with newborns
-
3
[KH Explains] No more 'Michael' at Kakao Games
-
4
Rapper jailed after public street fight with another rapper
-
5
Woman gets suspended term for injuring boyfriend with knife
-
6
Samsung chief bolsters ties with Germany’s Zeiss
-
7
NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
-
8
Med schools expect 1,500+ new admission slots next year
-
9
Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
-
10
[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
-
Korean firms suffer massive rating downgrades
A large number of South Korean companies have suffered credit rating downgrades this year due to poor performances stemming from protracted sluggish demand, despite an upgrade in the country's sovereign rating, market data showed Sunday.According to the data compiled by Korea Investors Service Inc., one of the three leading local credit rating agencies, it downgraded the ratings of 45 companies during the January-October period, marking the largest number since 1998, when it hit 61 in the afterm
Nov. 8, 2015
-
Samsung logs top smartphone sales in 5 major global regions
Korean tech behemoth Samsung Electronics Co. became the top smartphone seller in five major regions of the world in the third quarter of the year except in North America, where its archrival Apple Inc. dominated, a report showed Sunday.In the July-September period, Samsung posted the largest smartphone sales in Western Europe, the Asia-Pacific, Central and Latin America, the Middle East and Africa, according to the report by market tracker Strategy Analytics. Samsung's feat was attributed to bri
Nov. 8, 2015
-
[Newsmaker] Hanmi emerges as darling of investors
After concluding a mega licensing deal with global pharma giant Sanofi, leading South Korean drugmaker Hanmi Pharmaceutical is emerging as a rising star in the local stock market. Hanmi shares soared by around 30 percent Friday to reach 711,000 won ($624.3), lifted by a 4.9 trillion won licensing deal with Sanofi. Some stock market analysts raised the drugmaker’s target stock price to 1 million won, based on the rosy outlook for growth in profits.The Hanmi Pharmaceutical headquarters in Seoul. (
Nov. 6, 2015
-
Jeju Air takes off on stock market debut
Jeju Air Co., South Korea's top budget carrier, made a strong market debut on Friday on hopes that the low-cost carrier will benefit from steady demand for overseas and domestic air traffic. Stocks of Jeju Air were trading at 50,000 won ($44) on the Seoul bourse as of 9:27 a.m., up 1.01 percent from its opening price and far higher than its initial public offering price of 30,000 won per share. The airline, owned by retail firm Aekyung Industrial Co., was established in 2005. Since 2012, Jeju
Nov. 6, 2015
-
Tourism industry suffers 3.4 tln won loss from MERS outbreak: report
The South Korean tourism industry suffered massive losses from the Middle East Respiratory Syndrome outbreak as travelers shunned public venues, a report showed Friday. South Korea was hit hard by the MERS outbreak since the first confirmed case in late May, losing 1.53 million in the number of inbound travelers from June to September compared with a year ago, according to the report by the Korea Culture & Tourism Institute. The loss from the falling travelers was estimated at 2.23 trillion w
Nov. 6, 2015
-
Hanmi Pharmaceutical signs mega license deal with Sanofi
South Korean pharmaceutical company Hanmi Pharmaceutical Co. said Thursday that it has reached a license agreement with global drugmaker Sanofi to develop a portfolio of experimental, long-acting diabetes treatments, valued at up to 3.9 billion euros (US$4.2 billion).Under the agreement, Hanmi will receive an upfront payment of 400 million euros and is also eligible for up to 3.5 billion euros in development, registration and sales milestones, as well as double-digit royalties on net sales. The
Nov. 5, 2015
-
Shipbuilders report W2.1tr losses in Q3
Korea’s shipbuilding industry suffered from massive losses in the third quarter of this year due to suspension or cancellation of offshore rig projects, much higher than previously announced, revised data showed Thursday.Following revised estimates released by the companies, the nation’s top three shipbuilder ― Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding and Marine Engineering ― logged a combined operating loss of 2.1 trillion won ($1.84 billion), as against 1.8 tr
Nov. 5, 2015
-
Volkswagen’s Asia sales hit by emissions scandal
TOKYO – Embattled German carmaker Volkswagen has suffered sales declines in some of its key markets in Asia amid an emissions-rigging scandal. The number of newly registered Volkswagen vehicles in Korea for the month of October plummeted nearly 70 percent from September registrations, according to data from the Korea Automobile Importers and Distributors Association.The total figure came to 947, about one-third of the registrations made the month before. New registrations for Audi, one of Volksw
Nov. 5, 2015
-
Shinsegae Simon to hold bargain event
Shinsegae Simon will launch a discount event called “Super Saturday” for two days at its premium outlets in three cities. Some 470 brands will participate in the sales event starting Saturday at the firm’s outlets in Busan, Yeoju and Paju. The company said the outlets will offer up to 20 percent extra off the outlet price and give out gift cards to Samsung and Hyundai card holders. During the two-day bargain event, Shinsegae Simon will host music concerts and free giveaways. Fashion brands inclu
Nov. 5, 2015
-
Clinique to be sold at drugstores
Global beauty brand Clinique has started to sell its selected products at South Korean drugstore chain Lohbs, the firm said. As a growing number of young consumers opt for drugstores to buy beauty products, Clinique has forged a partnership with Lotte Homeshopping, operator of Lohbs, in a bid to expand its distribution channel. The company said Clinique products are only available at one of Lohbs’ 43 stores -- on Garosu-gil Road in the Gangnam area -- at the moment. “By selling our products at
Nov. 5, 2015
-
Caffe Bene launches new bagel menu
Coffee chain Caffe Bene has launched five new bagel menu items, the company said Thursday. The items, which include raspberry cheesecake and wasabi cream cheese flavors, will be available at the brand’s bagel concept stores for 1,900 won ($1.67).According to the firm, it applied for a patent on its composition and recipe for the cheese, called cream cheese double whip, to be served with the bagels. “Caffe Bene bagel concept store is a place where customers can enjoy customized bagels by choosing
Nov. 5, 2015
-
Paris Baguette opens outlet in Las Vegas
Paris Baguette, the nation’s leading bakery chain, has opened an outlet in Las Vegas, the company said Wednesday.The 408-square-meter store is located in the Grand Canal Shoppes, a shopping mall inside The Venetian Hotel and The Palazzo on the Las Vegas Strip. This is the company’s 44th store in the United States.As the latest location is nestled in the tourist attraction where more than 40 million people visit each year, the firm will strengthen its unique gift set product range, including tumb
Nov. 5, 2015
-
Koreans lean toward healthier yogurt
Faced with changing priorities, a growing number of people around the world are focusing on their health more than ever before as they seek to take on more nutritious diets and healthier lifestyles. In South Korea, where such considerations reign high, the face of the yogurt industry is quickly changing to meet the demands of health-conscious consumers, following similar trends elsewhere in the world, including the United States and Europe.If yogurt varieties were limited to simply “plain,” a f
Nov. 5, 2015
-
Bunny-shaped hairband triggers legal dispute over design right
Do these two products look the same?A hairband shaped like bunny ears is causing a stir online, bringing attention to design rights and chronic copycat practices in the design industry. The case first emerged when Hur Sae-hee, art director at Cool Enough Studio, claimed on her social media account in mid-October that the design of her signature hairband had been copied and distributed as a gift for those who purchased Dr. Jart+ beauty creams at drugstore franchise Olive Young. The hairband, inte
Nov. 5, 2015
-
KEPCO wins Dominican Republic deal
Korea Electric Power Corp. on Thursday announced it has won the bid to establish $60 million worth of wires in the Dominican Republic.The state-run firm will establish or replace 14,000 sets of telegraph poles and 870 kilometers of electric wires across the country by 2017. This is the largest overseas project for the state-run institution. KEPCO already completed the $51 million construction of an electric power distribution facility in 2011. “KEPCO’s winning the Dominican contract shows that w
Nov. 5, 2015
-
Moroccanoil launches Smooth Collection
Hair and body care brand Moroccanoil on Wednesday launched its Smooth Collection, which can be applied to all hair types. The collection is comprised of smoothing shampoo, conditioner as well as hair mask and styling lotion. Based on Argan oil, its signature AminoRenew ingredient brings denser nutrients to the hair. “The lotion, for example, is humidity-resistant but has intense amount of moisture that lasts for 72 hours,” said Violet Sainsbury, Morrocanoil educator. The Morrocanoil Smooth Colle
Nov. 5, 2015
-
[Photo News] H&M Balmain fever
H&M BALMAIN FEVER -- People queued up in front of H&M store in Myeong-dong, central Seoul, on Thursday morning, ready to enter the store to buy H&M + Balmain collection that started sales on the day. The collaborative and limited edition items of the Swedish SPA fashion brand and the French luxury house caused a frenzy among fashion enthusiasts who queued up on the street for up to six days by using tents, blankets and portable chairs. H&M encouraged the waiting customers to take regular meals a
Nov. 5, 2015
-
Construction firms bag record domestic orders in Sept.
South Korean construction companies racked up monthly record domestic orders in September, aided by a recovery in the local property market and a series of massive construction projects, data showed Thursday. According to the data compiled by the Construction Association of Korea, local builders received a combined 20.41 trillion won ($17.9 billion) worth of orders in September, more than doubling from a year earlier. Of the orders tallied, they bagged 18.49 trillion won worth of domestic orde
Nov. 5, 2015
-
KEPCO Q3 net surges on asset sales, higher electricity rates
State-run Korea Electric Power Corp. said Thursday that its third-quarter earnings surged, largely due to gains from asset sales and higher electricity rates. Net profit reached 9.28 trillion won ($8.16 billion) in the July-September period, compared with a profit of 1.55 trillion won a year earlier, the company said in a regulatory filing. Operating income also jumped 52 percent on-year to 4.34 trillion won, and sales gained 3.8 percent to 15.47 trillion won over the cited period. (Yonhap)
Nov. 5, 2015
-
Court rules Apple has no liability to compensate for tracking users' location
An appeals court on Thursday ruled against South Korean iPhone users who filed a damages suit against Apple Inc. for collecting their location information without their consent. The Busan High Court, upholding a lower court's ruling, dismissed the complaint filed against the U.S.-based tech firm and its local unit, Apple Korea Inc., seeking 1 million won ($879) each in compensation, saying there was no leakage of private data. In 2011, about 28,000 people filed the suit a few weeks after South
Nov. 5, 2015