Governance at center of Lotte crisis

Lotte Group is facing the biggest challenge in its 67 years of history as the government is gearing up to take issue with its alleged unfair business practices after its founding family’s feuds erupted last week.The Fair Trade Co...

SoftBank Korea confident in Coupang’s market control

Harvard dropout Kim Bom’s daily deals start-up Coupang made Korean tech start-up history in June when it fetched $1 billion from SoftBank in the country’s largest-ever Internet investment.Coupang is Korea’s prized unicorn, and ...

Korea Eximbank takes hit for DSME loss

As a major lender to the nation’s shipbuilding industry, Export-Import Bank of Korea has been hugely affected by the huge operating loss recorded by Daewoo Shipbuilding and Marine Engineering.Not only is the state-run bank taking...

China‘s restructuring to take toll on Korean shipbuilders, steelmakers

South Korean shipbuilders and steelmakers are increasingly facing risks from China’s recent restructuring in its ailing shipbuilding sector. Beijing on Monday announced a large-scale restructuring in the industry as part of effor...

Choi urges public firms to adopt peak wage

Deputy Prime Minister and Finance Minister Choi Kyung-hwan urged public companies Wednesday to introduce the wage peak system as soon as possible, reiterating it would help widen employment opportunities for young job seekers.In h...

SK launches program for young job seekers

SK Group is rolling up its sleeves for youth job creation as part of its efforts to strengthen socially responsible activities.The nation’s third-largest conglomerate launched on Wednesday a 2-year-long job creation plan for the ...

SK hynix ends legal dispute with SanDisk

SK hynix, South Korea’s top chip maker, said Wednesday it has agreed with U.S.-based SanDisk to end their ongoing legal battle and to extend ties on patent use. In March last year, SanDisk filed a lawsuit against SK hynix in the ...

COOPERATION FOR 5G

Access to online pornography should be regulated: KCC

 With most Koreans using the Internet and mobile devices, illegal and harmful information on the Internet is on the rise. According to last year’s statistics, the number of smartphone users exceeded 40 million, about 80 percent ...

Health concerns raised of aging Lotte founder

Lotte founder Shin Kyuk-ho (Yonhap)Controversy over the decision-making abilities of Lotte Group founder and general chairman Shin Kyuk-ho is escalating after a Japanese Lotte CEO raised concerns about the current health of the 93...

Short selling record-high amid economic downturn

Short selling in the Korean stock markets hit an all-time high in July, as a lackluster economy fueled investors’ pessimism.  According to main bourse operator Korea Exchange, the average daily short selling in July totaled 431....

[Graphic News] Over 90% of Koreans own cellphones

Nine of 10 Koreans own a cell phone, a poll showed Wednesday.According to a survey by Korea Information Society Development Institute, 92.4 percent of respondents, or 9,413 people, replied that they owned a cell phone (including s...

S. Korea moving to reform chaebol after Lotte episode

The government and the ruling Saenuri Party are moving to reform the ownership structure of the country's family-run conglomerates amid public backlash over an escalating power struggle in Lotte Group, official sources said Wednes...

S. Korea to pump more capital into two state banks

South Korea's financial authorities are considering pumping money into two state banks with heavy exposure to loss-making local shipbuilders to help them maintain financial health, financial officials said Wednesday.The country's ...

Daum Kakao opens IT center for handicapped in Vietnam

South Korea's top mobile messenger operator Daum Kakao Corp. said Wednesday it has opened an education center in Vietnam to provide information technology courses for the mentally handicapped.The company said the education center ...