Most Popular
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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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Key suspects grilled over alleged abuse of power in Marine death inquiry
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[Graphic News] Number of coffee franchises in S. Korea rises 13%
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S. Korean children, teens grow taller, mature faster than before: study
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Some junior doctors are returning: Health Ministry
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Army takes group action against Hybe for neglecting BTS
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[Robert J. Fouser] AI changes rationale for learning languages
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Woman dangling from power lines rescued by residents holding blanket
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Naver Q1 net income soars 1,171.9% on growth of major businesses
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Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
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[Newsmaker] Obama pushes for global trade deals in face of opposition
HANNOVER, Germany (AP) -- President Barack Obama mounted a strong defense of international trade deals Sunday in the face of domestic and foreign opposition, saying it‘s ``indisputable’‘ that such agreements strengthen the economy and make U.S. businesses more competitive worldwide. But he acknowledged that the clock is ticking on his faltering trade agenda. Obama, on a farewell visit to Germany as president, is trying to light a fire under stalled talks about a trans-Atlantic trade deal, a m
World NewsApril 25, 2016
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[Newsmaker] 400th anniversary of Shakespeare's death
STRATFORD-UPON-AVON, England (AFP) -- Thousands of people from around the world descended upon William Shakespeare’s hometown Saturday for a day of theater, dancing and fireworks marking the 400th anniversary of the Bard’s death.Some 10,000 people turned out in Stratford-upon-Avon, central England, to see a parade revved up by a New Orleans jazz band, with fans of the English language‘s foremost playwright donning Shakespeare masks as they joined in the party.And in London, U.S. President Barack
World NewsApril 24, 2016
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[Newsmaker] Layoff fears loom at Hyundai Heavy shipyards
Workers at shipyards of Hyundai Heavy Industries, located in Ulsan, South Gyeongsang Province, raised concerns over a possible massive layoff on Friday, insisting that CEOs and executives have to be responsible for their poor management before considering a workforce reduction or downsizing. “We want to believe that the recent news report that the company is set to announce a 10 percent workforce reduction plan next week is not true,” Kim Byung-jo, a spokesperson of the shipbuilder’s labor u
BusinessApril 22, 2016
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[Newsmaker] Reckitt Benckiser apologizes, offers funds
Amid the prosecution’s widening probe into Oxy Reckitt Benckiser Korea and other companies related to their toxic humidifier disinfectants, the British firm apologized on Thursday to victims and unveiled a plan to offer an additional 5 billion won ($4.4 million) in humanitarian assistance. In a letter released Thursday afternoon, the company addressed its “social responsibility” in deaths and diseases caused by its humidifier sterilizers, saying it would cooperate with investigators to solve the
Social AffairsApril 21, 2016
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[Newsmaker] Samsung ready to tie technology with fashion
Technology will play a significant role in revolutionizing the global fashion industry, the chief of Samsung’s fashion unit said Wednesday, stressing that the South Korean electronics giant is ready to take the lead in the marriage between technology and fashion. A timeless value has been a defining component of luxury fashion for decades. However, fashion will become "limitless" in the future as fast-evolving technology and social networking services transform the way people experience and cons
IndustryApril 20, 2016
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[Newsmaker] Saudi Arabia mixes oil policy with politics
After taking over defense and economic planning, Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman has now stamped his authority over oil policy.In so doing, the 30-year-old son of King Salman upended the Saudis’ decades-long approach of separating commercial from political considerations. Over the weekend, Saudi officials quashed an agreement among major oil producers in Doha to freeze output due to Iran’s refusal to participate, a sign the regional rivalry is infecting the market. Saudi
World NewsApril 20, 2016
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[Newsmaker] Lawmakers OK Rousseff impeachment trial
Brazilian lawmakers authorized impeachment proceedings against President Dilma Rousseff in a rowdy, circus-like showdown that plunged Latin America's biggest country into profound political crisis and sparked claims that democracy was under threat.Opposition deputies in the lower house of Congress needed 342 of the 513 votes, or a two thirds majority, to send Rousseff to the Senate, which will now decide whether to open a trial. They got there near midnight on Sunday after five hours of voting.
World NewsApril 18, 2016
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[Newsmaker] Pope brings 12 Syrian refugees to Rome
Declaring “we are all migrants,” Pope Francis visited the Greek island of Lesbos on Saturday with a message of hope for those seeking asylum in Europe, 12 of whom he took home with him to the Vatican. Pope Francis welcomes a group of Syrian refugees after landing in Rome following a visit at the Moria refugee camp in the Greek island of Lesbos on Saturday. (AFP-Yonhap)His one-day trip to Europe‘s migration hot spot culminated dramatically when three Syrian refugee families, all Muslim, returne
World NewsApril 17, 2016
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[Newsmaker] Ahn chases second wave of political momentum
Since stepping into politics in 2011 as a fresh alternative, former computer virus vaccine developer Ahn Cheol-soo has received fluctuating reactions from the public, varying from high hopes to utter skepticism.Despite persisting doubts and disapproval, the information technology mogul-turned-politician at last seems to have made his mark as a heavyweight opposition figure, thanks to his party’s surprising achievement in Wednesday’s parliamentary election.People’s Party leader Rep. Ahn Cheol-soo
PoliticsApril 14, 2016
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[Newsmaker] Abusive moguls face growing public pressure
Business tycoons will soon come under closer watch, as political parties and civic groups are seeking to strengthen monitoring and regulation of their behavior. The move comes amid mounting public criticism toward conglomerate leaders, following a recent series of alleged assault and abuse cases. Nonprofit organization Public Welfare Committee recently set up a call center to monitor abusive remarks or acts by owner family members, CEOs or executives in workplaces.“We wanted to get to the botto
IndustryApril 13, 2016
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[Newsmaker] Kakao’s profit estimates nosedive
Kakao, the operator of South Korea’s most-used mobile messenger, is likely to see its profits nosedive in the first quarter despite its aggressive moves to expand mobile and offline businesses, analyst reports said Tuesday. However, the company’s issuance of convertible bonds worth 250 billion won ($219 million) will clear the uncertainty over its funding needs, they said.Kakao’s net profit in the first quarter is expected to have plunged 45.3 percent year-on-year to 22.1 billion won, and operat
TechnologyApril 12, 2016
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[Newsmaker] Hyundai close to 100m sales landmark
April will be a landmark month for the global success of Hyundai Motor Group as its cumulative global sales is poised to surpass 100 million units. The Korean automotive giant said Monday that the combined global sales of its two automakers -- Hyundai Motor and Kia Motors -- reached 99.7 million units in March, and is expected to cross the 100-million mark this month. “Few automakers in the world have achieved such a sales record in the global market,’’ said Kim Pil-soo, an automotive engineerin
MobilityApril 11, 2016
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[Newsmaker] Cameron releases tax records amid Panama row
LONDON (AFP) -- British Prime Minister David Cameron on Sunday released his tax details in a bid to head off a row over his father’s offshore business, and announced a new taskforce to scrutinize the so-called Panama Papers.Hundreds of demonstrators rallied outside Cameron’s office Saturday calling for his resignation after he finally admitted to having held shares in his late father’s Bahamas-based investment fund, which cropped up in the documents leaked from Panama law firm Mossack Fonseca.Br
World NewsApril 10, 2016
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[Newsmaker] Food industry to join Korea’s war on sugar
The South Korean food industry pledged Friday to actively partake in new government measures aimed at reducing citizens’ sugar consumption and promoting public health. Local food companies say they are already engaged in efforts to reduce sugar content in their products and will continue on this trajectory in line with rising health consciousness here and abroad. “The food industry will actively abide by the government’s new policy toward sugar reduction,” the Korea Food Industry Association sai
IndustryApril 8, 2016
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[Newsmaker] Anbang’s Allianz buy spurs Chinese deals
From hotels, movies, games and financial services to energy, manufacturing and information technology, there is not one sector across industries or markets that China is not involved in.China’s growth may be losing momentum a bit, but that does not mean Chinese companies do not have the capital to remain acquisitive for businesses that can help them generate more value. And finance is one of many services where they want to get their hands on and boost global competitiveness through acquisitions
April 7, 2016
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[Newsmaker] U.S. OKs Celltrion's Remicade biosimilar
The U.S. Food and Drug Administration approved Korean biopharma company Celltrion’s Remicade (infliximab) biosimilar on Wednesday, marking the second entry of a biosimilar drug in the U.S. pharmaceutical market. The U.S. regulator approved Inflectra, Celltrion’s biosimilar replication of Johnson & Johnson’s blockbuster drug Remicade, for the treatment of rheumatoid arthritis, Crohn’s disease, ulcerative colitis and other conditions.Celltrion CEO Kim Hyoung-ki speaks during a press conference hel
IndustryApril 6, 2016
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[Newsmaker] Mr. Pizza chairman apologizes for assault
The chairman of MPK Group, which runs the Mr. Pizza chain, issued an official apology Monday night on the company‘s website in response to public outcry over his alleged assault of a security guard Saturday night.“It was my mistake. I sincerely apologize to the person who was hurt,” the statement from chairman Jung Woo-hyun reads. “I also apologize for upsetting many others. I take full responsibility for the incident, and regret my actions.”MPK Group chairman Jung Woo-hyun The apology came a da
IndustryApril 5, 2016
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[Newsmaker] Huge tax leak exposes Putin aides
PARIS (AFP) -- A massive leak of 11.5 million tax documents has exposed the secret offshore dealings of aides to Russian president Vladimir Putin, world leaders and celebrities including Barcelona forward Lionel Messi. Photo shows the building where the office of Panamanian law firm Mossack Fonseca is located in Panama City, Panama, Sunday. (EPA-Yonhap)An investigation into the documents by more than 100 media groups, described as one of the largest such probes in history, revealed the hidden o
World NewsApril 4, 2016
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[Newsmaker] G5 steers turnaround of LG’s mobile unit
LG Electronics has made diverse new experiments with its smartphones such as the leather-clad G4 and dual-camera phone V10 over the past year. The phones were great but received little acknowledgement from customers.The company has recently come up with another unprecedented phone in the market -- the world’s first modular smartphone G5. But this time the initial market reaction seems quite different, with orders soaring. According to telecom carriers and retailers, the phone sold more than 15,
TechnologyApril 3, 2016
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[Newsmaker] KB Financial aims to be top universal bank
KB Financial Group chief Yoon Jong-kyoo said Friday that its planned takeover of Hyundai Securities will bring the group one step closer to his vision of turning it into Korea’s top universal bank. Yoon Jong-kyoo (Yonhap)“We will grow Hyundai Securities into a model for universal banking in Korea based on KB Kookmin Bank’s strength in customer base, reputation and assets,” Yoon told reporters. Universal banking puts retail, wholesale and investment banking services under one roof, providing cust
April 1, 2016