Most Popular
-
1
Jimin of BTS, actor Song Da-eun suspected to be dating, again
-
2
What's next for the government's push in quota hike?
-
3
Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
-
4
Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
-
5
‘Malice should not undermine the system, social order,’ says Hybe's Bang
-
6
N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
-
7
N. Korea fires short-range ballistic missiles toward East Sea: JCS
-
8
[Graphic News] How much do Korean adults read?
-
9
N. Korea says it test-fired tactical ballistic missile with new guidance technology
-
10
Korean firms target EV charging market in US
-
Watchdog probes banks' alleged hiring irregularities
South Korea's financial watchdog has started an inquiry into allegations that some banks gave special favors to some job candidates related to senior executives, sources said Friday.The Financial Supervisory Service mobilized a team of 30 inspectors Tuesday to begin investigating suspected hiring-related wrongdoing by 11 commercial lenders, including such major players as Kookmin, KEB Hana, Shinhan and Nonghyup.The initial investigation was to be concluded later Friday.The FSS investigators visi
MarketDec. 22, 2017
-
Spirits market turns to lighter alcohol
The spirits market is showing a notable rise in sales in the low-ABV category this holiday season, as South Koreans increasingly celebrate with lighter drinks and smaller gatherings.Since last year, Korea has seen a surge in demand for liquor with low alcohol by volume. Whiskey companies have also been releasing options for consumers who shy away from heavy drinks. A DRINKiQ session at Hankuk University of Foreign Studies in February raises awareness about responsible drinking (Diageo)Targeting
IndustryDec. 21, 2017
-
[Advertorial] KT&G leads in move to fight youth unemployment
KT&G, South Korea’s No. 1 tobacco maker by market share, has been actively engaging in a state-led initiative to fight youth unemployment that marked 9.8 percent as of 2016, the highest since 1999.The projects initiated by the company include renting out suits for job interviews and providing tailored consulting sessions, under the names “SangSang Closet,” “SangSang Career Camp” and “SangSang Compass Camp.”The SangSang Closet program has been in operation since September last year offering a fre
IndustryDec. 21, 2017
-
Revised FTC guideline to force Samsung SDI to sell stake in C&T
Korea’s antitrust watchdog said Thursday it would correct what it called an error in its guideline on conglomerates’ cross-shareholding structure, a decision that would force a Samsung affiliate to sell more of its stake in Samsung C&T Corp., the de facto holding company of the tech giant. In December 2015, the Fair Trade Commission had set the guideline with regard to a merger between Samsung C&T and Cheil Industries, prohibiting the conglomerate from strengthening its shareholding chains by th
IndustryDec. 21, 2017
-
Samsung SDS concludes test on blockchain tech for shipping
Samsung SDS said Thursday a consortium led by the company had successfully concluded a monthslong test on blockchain-powered storage in marine transport, with the expectation that the technology will take the shipping industry to a new level. (Samsung SDS)Importers and exporters can make transactions of documents, such as a bill of landing and letter of credit, on the decentralized security system, free of forgery and tampering threats, according to the software solution developer arm under Sou
TechnologyDec. 21, 2017
-
Duty-free operators restart marketing for China
Duty-free operators are restarting marketing efforts that target Chinese consumers, as thawing relations between the two countries point to the possibility of recovering sales.On Thursday, HDC Shilla Duty Free and Shinsegae Duty Free announced they had signed agreements with Chinese agencies to expand marketing to China. HDC Shilla Duty Free opened a studio in its IPark store for Chinese internet celebrities, known as Wang Hong, to create specialized content for the Chinese. The Wang Hong studi
IndustryDec. 21, 2017
-
Hyundai completes development of voice-recognition assistant
Hyundai Motor has completed the development of a voice-recognition personal assistant jointly developed with a US tech company, and will adopt the service in cars to be released in 2019, the company said Thursday.The voice-recognition platform called Intelligent Personal Agent controls in-car systems and features, and provides information for drivers on a real-time basis, the company said in a statement.The South Korean carmaker will unveil the connected car service at the Consumer Electronics S
MobilityDec. 21, 2017
-
Hyundai Mobis developing tech preventing accidents from drowsy driving
Hyundai Mobis is developing a driverless system that would direct the vehicle to a safe area when it senses the driver dozing off, the company said Thursday.The system named departed driver rescue and exit maneuver, or DDREM, takes full control of the steering wheel when it determines that the driver is incapable of driving and leads the vehicle to the nearest road shoulder or resting area. The company aims to fully develop it by 2021, after introducing it at the Consumer Electronic Show in Las
MobilityDec. 21, 2017
-
[Advertorial] Samsung to ride on big data, AI and connectivity wave
Samsung Electronics, which has marked four straight quarters of record profits, is predicted to see strong performance next year due to the continued “supercycle” of chips and the launch of advanced smartphones and appliances powered by artificial intelligence and connectivity technologies. The Korean tech giant is expected to record 50 trillion won ($46 billion) in operating profit this year. It is forecast to see 60 trillion won in operating margin in the coming year, according to local securi
IndustryDec. 21, 2017
-
Hanwha signs $226m artillery supply contract with Norway
Hanwha Land Systems, a defense business run by Hanwha Group, signed a contract with the Norwegian government to supply two dozen K9 Thunder self-propelled 155 mm howitzers, the company said Thursday.Under the 245.2 billion won ($226.6 million) deal, Hanwha Land Systems will deliver 24 K9 howitzers and six K10 ammunition resupply vehicles by 2020. Son Jae-il, Hanwha Land Systems CEO, shakes hands with Mette Elin Sørfonden, head of Norway's defense material agency, after a contract on K9 self-pro
IndustryDec. 21, 2017
-
S. Korea has third most patents on artificial intelligence after US, Japan
South Korea is witnessing increasing research efforts for artificial intelligence, with the third most patents related to AI technologies after the US and Japan, a survey by a local research institute found Thursday. However, the country’s growth pace and quality of patent applications remain inferior to those of the US and China, the survey added. According to the Institute for Information & Communications Technology Promotion, Korea came in third in terms of the number of AI-related patents th
TechnologyDec. 21, 2017
-
Cryptocurrency fuels ‘irrational exuberance’: BOK Gov.
South Korea‘s top monetary policymaker expressed concerns on what he called the nation’s “irrational exuberance” that may partly be blamed on the cryptocurrency frenzy among local retail investors, during a meeting with the press Wednesday night.This comes in contrast to the “rational exuberance” seen in Korea’s bull financial markets, such as the record run in stock markets and flattening yield curve driven by robust fundamentals and a low key rate poli
MarketDec. 21, 2017
-
Yuhan-Kimberly increases efforts to support senior citizens
Zero Space, a domestic fashion brand, was launched with the support of Yuhan-Kimberly, a South Korea personal care products manufacturer, as part of efforts to help senior citizens. The fashion brand is a collaboration between local senior dressmakers and young marketers. It has now grown to join overseas fashion design fairs, such as Maison et Objet Paris and Centrestage in Hong Kong. The brand’s sales have also increased by some 270 percent, according to Yuhan-Kimberly. (Yuhan-Kimberly)The co
IndustryDec. 21, 2017
-
Venture minister Hong to meet SME leaders over wage hike, work-hour reduction
SMEs and Startups Minister Hong Jong-haak will meet with representatives of small and medium-sized firms and venture startups next week to exchange views on issues ranging from the minimum wage hike and work-hour reductions, market watchers said Thursday.Hong will meet with Park Sung-taek, chairman of the Korea Federation of Small and Medium Business and scores of other representatives at the KBIZ headquarters in Yeouido, central Seoul, Tuesday.Small and medium enterprises have called on the gov
IndustryDec. 21, 2017
-
Korean household owes more than W70m in debt: data
One South Korean household owes more than 70 million won ($65,000) on average to banks and other financial companies this year as people borrowed to buy homes and invest in real estate and business activities, government data showed Thursday.The average household debt was tallied at 70.22 million won as of end-March this year, up 4.5 percent from a year earlier, according to data compiled by Statistics Korea.Of the total, 71.2 percent, or 49.98 million won, was financial loans, up 5.9 percent on
EconomyDec. 21, 2017
-
Samsung affiliate required to sell additional stake in group's holding firm: FTC
A Samsung Group affiliate will be required to sell an additional stake in the de facto holding company of South Korea's No. 1 conglomerate as a merger that took place in 2015 has effectively strengthened cross-shareholding ties within the business group, the country's corporate watchdog said Thursday.In 2015, Samsung C&T Corp. was created by merging with Cheil Industries Inc., becoming the group's de facto holding firm. At that time, the Fair Trade Commission ordered Samsung SDI Co., another aff
IndustryDec. 21, 2017
-
Korea to actively bring unfair trade barriers issues to WTO: official
The government said Thursday it will actively tackle any unfair trade barriers that can be imposed on South Korean products by foreign countries, including filing complaints with the World Trade Organization.The move comes amid concerns the US government is moving to slap anti-dumping tariffs and other trade barriers on South Korean steel products."We've stressed on several occasions to the US side that Seoul is Washington's ally, a massive importer of American arms and exports of South Korean s
IndustryDec. 21, 2017
-
Korea likely to grow closer to its potential growth rate in 2018: BOK chief
South Korea's central bank chief said Thursday that Asia's fourth-largest economy is expected to pull off growth close to its potential economic growth rate based on favorable global trade conditions."Despite many difficulties, the South Korean economy achieved 3 percent growth this year," Bank of Korea Gov. Lee Ju-yeol said at a meeting with economic experts and advisers. "For next year, the economy will expand at its potential growth rate if there are no unpredictable developmen
EconomyDec. 21, 2017
-
Korea to unveil financial deregulation in Q1 next year
South Korea will unveil a package of measures during the first quarter of next year on financial regulatory reforms that would lower entry barriers for new players and boost competition in the local financial industry, the nation's top financial regulator said Thursday. Choi Jong-ku, chairman of the Financial Services Commission, told reporters that the planned deregulation is aimed at "promoting innovation and healthy competition in the financial industry by new participants." Choi di
MarketDec. 21, 2017
-
Govt., ruling party seek measures to ensure fair transactions between big and small firms
The government and ruling Democratic Party agreed Thursday to seek a package of measures to ensure fair transactions among large and smaller companies, including bolstering negotiating power for subcontractors.During their policy consultation meeting, they stressed the need to address "imbalances in power" among local firms, citing them as the root cause of unfair business practices that have gnawed at subcontractors' competitiveness.The ruling bloc has recently been striving to better
EconomyDec. 21, 2017