Former Ssangyong chairman donates 1st Chairman sedan to Ssangyong Motor

Ssangyong Engineering & Construction chairman Kim Seok-joon (right) poses with Ssangyong Motor CEO Choi Johng-sik after donating his 18-year old Ssangyong Motor full-size Chairman sedan to the carmaker in Seoul on Monday. The dona...

Global pharma firms boost employee morale with family-centered benefits

Shin Seong-suk, compliance director at France-based pharmaceutical company Sanofi-Aventis Korea, sent her 11-year-old son Lee Yu-jin to Paris this summer to spend 10 days with a French family she had never met before.Last week, sh...

SK Innovation, JX Nippon to strengthen partnership

SK Innovation, South Korea’s top oil refiner, and Japan-based JX Nippon Oil & Energy have agreed to strengthen their partnership in order to overcome structural challenges faced by the global oil and petrochemical industries, acc...

BOK saddled with U.S., China risks

South Korean monetary policymakers are struggling to cope with the prospects of an interest rate hike in the U.S. and further currency devaluation in China.Should the U.S. Federal Reserve raise its key rate, the Bank of Korea woul...

Daewoo Shipbuilding to cut 1,300 jobs, sell assets

Troubled Daewoo Shipbuilding & Marine Engineering is set to undergo restructuring, including job cuts and assets selloff worth 400 billion won ($338 million), as it battles to cope with mounting losses and lack of orders.“The com...

Korean manufacturers expect harsh September

South Korea’s business sentiment for September has slid again, as industrial players expect sagging exports and China’s economic slowdown to undo the Korea’s gradual recovery from the Middle East respiratory syndrome outbreak. ...

Samsung unveils front-load washer with extra door

 Samsung Electronics on Monday released a new front-load washing machine with an extra door that allows users to put in additional laundry in the middle of a wash cycle. The new model, dubbed the Bubble Shot Add Wash, comes as S...

[Photo News] Olympus unveils new mirrorless camera

Samsung to build smart factories

 Tech giant Samsung Electronics said Monday it would join forces with the Ministry of Trade, Industry, and Energy to make conventional factories run by small and mid-sized enterprises “smarter.”Signing a memorandum of understan...

[Newsmaker] Samsung C&T as new group holding company

The “new” Samsung C&T kicked off on Sept. 1 as the de facto holding company of Samsung Group, the nation’s largest conglomerate. The group’s construction, trading, fashion, food and bio businesses are now reorganized under the...

Korea tops 10% of China’s import market

The share of Korean products in China’s import market exceeded 10 percent for the first time, thanks to the growing demand for Korean semiconductors, the Korea International Trade Association said Monday.China is Korea’s largest...

Hite Jinro products enter Dubai airport duty-free store

Hite Jinro liquor products have entered the duty-free stores at Dubai International Airport, company officials said Monday.The company’s soju products, Ilpoom Jinro and Chamisul, will be sold in the liquor section along with prem...

Industrial lending growth slows in Q2

The amount of loans extended to industries by local banks continued to rise in the second quarter, but its pace of growth slowed due mainly to a fall in lending to manufacturers and builders, data showed Monday.  Outstanding loa...

S. Korea cements presence in China's import market

South Korea expanded its presence in China's import market in the first half of the year thanks to strong demand for its semiconductors and consumer goods, data showed Monday.  China, the world's No. 2 economy, imported $82.8 bi...

Samsung to join forces with gov't for 'smart factories'

Samsung Electronics Co. said Monday it has agreed with the commerce ministry to provide smaller firms with more efficient production facilities in line with government efforts to promote shared growth between big businesses and th...