ZOIT launches IoT-enabled fitness bike in Beijing

Health care startup ZOIT announced Friday that it recently signed a business collaboration contract with its Chinese partner company PURE SPORTS, and released its new, independently developed fitness bike in Beijing. The new produ...

Kumho chief refuses to give up trademark rights of tire unit

Kumho Asiana Group Chairman Park Sam-koo announced Friday that he will not relinquish Kumho Tire’s trademark rights to China’s Doublestar Co., which is currently in negotiations to acquire Korea’s No. 2 tire company. Park had a...

Mobile carriers see modest growth in Q1, explore non-telecom sector

South Korea’s three mobile carriers posted moderate growth in their earnings in the first quarter of this year, but they seek steeper growth by shifting from their traditional mobile communications business to new content, softwa...

Posco E&C turns profitable following ‘100-day turnaround’

Posco Engineering & Construction has found itself back in the black after completing its “100-day turnaround” strategy, which involved increasing project profit margins and minimizing expenses, according to Posco E&C earlier thi...

Foreign luxury brands’ profits fall in Korea

Luxury brands including Balenciaga and Ferragamo are seeing falling profits in Korea as savvy consumers increasingly buy luxury items directly from overseas or during outlet sales.According to filings with the Financial Supervisor...

OB expands product lineup

Oriental Brewery, South Korea’s largest brewer, has launched six new products in the past two years, as part of efforts to satisfy the growing number of local customers looking for a variety of choices.Breaking the market traditi...

Seoul stocks slip from 6-year high, Samsung continue to rise

South Korean stocks snapped their six-day winning streak on Friday, slipping from their six-year high, as investors cashed in recent gains, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Sto...

Korea's economy facing uncertainties despite signs of recovery

South Korea's economy is still facing uncertainties, although it has shown signs of recovery, the nation's financial regulator said Friday. The South Korean economy expanded 0.9 percent in the first-quarter of this year, growing a...

Hankook Tire Q1 net falls 13% on high costs

Hankook Tire Manufacturing Co., the world's seventh-biggest tiremaker by sales, on Friday posted a 13-percent on-year drop in its first-quarter net profit due to high manufacturing costs. Net profit for the three months that ended...

Govt. moving to check Trump's statement to scrap Seoul-Washington FTA

The South Korean government is trying to figure out the exact meaning of US President Donald Trump's statement that he will fix or scrap a bilateral free trade deal between the two countries, officials here said Friday.In an inter...

Trump's remarks on FTA with Korea could trigger protectionism: biz lobby

South Korean businesses on Friday expressed serious concerns that US President Donald Trump's remarks on the bilateral free trade deal could trigger protectionism worldwide. In an interview with Reuters, Trump said he will either ...

LG Household's Q1 net up 12.5% on high-end cosmetics sales

LG Household & Health Care Co., South Korea's No. 2 cosmetics maker, on Friday reported firm growth in its first-quarter earnings, shrugging off concerns over a setback from China's boycott on Korean-made goods amid a diplomatic s...

Novartis Korea fined W55b, faces insurance coverage ban over bribery

Swiss pharmaceutical giant Novartis has been fined 55.1 billion won ($49 million) and given a six-month suspension of insurance coverage benefits for nine products in South Korea for bribing local doctors.Korea’s Ministry of Heal...

Hyundai unveils more details of Kona crossover ahead of launch this summer

Hyundai Motor Co., South Korea's biggest carmaker by sales, on Friday unveiled more details of its all-new Kona crossover set to be launched in the domestic market this summer.In its second teaser image, the carmaker has given cus...

BOK to keep monetary easing policy to support growth

South Korea's central bank pledged Friday to keep the current monetary easing policy to support growth in Asia's fourth-largest economy. For this month, the Bank of Korea kept its key rate at an all-time low of 1.25 percent for th...