Most Popular
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Korean labor force to shrink by 10 million by 2044: report
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Pandemic left Korea more depressed than before: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Allegations surrounding BTS resurface, enraged fans demand apology
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Students with history of violence will be barred from becoming teachers
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Medical feud leaves hospitals in financial crisis
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Samsung mocks Apple over iPhone alarm glitch
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Chip up cycle won’t stay long: SK chief
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'Queen of Tears' riding high on Netflix chart
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Govt. asks hospitals to mitigate impact of medical professors' absence
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IKEA Korea to launch mobile app ahead of second store opening
The local unit of global furniture giant IKEA said Friday it will launch an augmented reality technology-based mobile application next week to provide a better chance for customers to shop for its products, with its second outlet set to open in October.IKEA Place, where people can virtually place furniture in their homes or offices using the AR technology, will be available on the Apple's App Store starting Thursday, the company said. This photo provided by IKEA Korea on Sept. 29, 2017, shows it
TechnologySept. 29, 2017
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KTX bullet train attendants strike over pay
DAEJEON -- Unionized cabin crewmembers of South Korea's KTX bullet trains began a two-day strike Friday following the collapse of their wage talks with management, union officials said.The labor union of KORAIL Tourism Development Co., a unit of the state rail operator Korea Railroad Corp., said unionized workers walked off the job early Friday morning in protest over the failed wage negotiations."Labor and management continued their negotiations into late Thursday, which broke down as the compa
IndustrySept. 29, 2017
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FTC antitrust watch list increases by one in Sept.
South Korea's corporate watchdog said Thursday the number of affiliates belonging to large business groups on its antitrust watch list went up by one, as of the end of September.The Fair Trade Commission said 1,966 firms were on its monitoring list compared to 1,965 from a month earlier.Companies subject to greater oversight and restrictions belong to the country's 31 largest conglomerates, including Samsung Group and Hyundai Motor Group, with assets of 10 trillion won ($8.5 billion) or more, an
IndustrySept. 29, 2017
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Korea's current account surplus widens in August
South Korea's current account surplus widened last month from a year earlier thanks to brisk semiconductor exports, central bank data showed Friday.The country's current account surplus reached $6.06 billion in August, compared with a surplus of $5.03 billion a year earlier, according to the preliminary data from the Bank of Korea.The figure represents a surplus for 66 months in a row. The current account is the biggest measure of cross-border trade. The goods account surplus widened to $9.
EconomySept. 29, 2017
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Korean autoparts firms hold trade show in Detroit, Toronto: KOTRA
South Korean autoparts companies held a trade show in Detroit and Toronto this week to promote their products in the North American market, a state-run trade and investment promotion agency said FridayKorea Autoparts Plaza was held in Toronto Tuesday and Detroit Thursday with the participation of 51 South Korean autoparts firms that make information technology, new materials and powertrain parts for car engines, transmissions, drive shafts, suspension and wheels, the Korea Trade-Investment Promo
MobilitySept. 29, 2017
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LG to release V30 in US next week
LG Electronics Inc. said Friday it plans to release its new flagship smartphone, the LG V30, in the United States next week, kicking off fully fledged global sales of the device.The South Korean tech giant said the LG V30 will be released through major US mobile carriers starting Thursday.While the price will vary on depending on the carrier, industry watchers say it will not be much different from the local price of 949,300 won ($826.90). (Yonhap)Consumers preordering the device will be provide
TechnologySept. 29, 2017
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Seoul stocks open higher on foreign buying
South Korean stocks opened higher Friday on a wave of bargain hunting. The Korean won rose against the dollar. The benchmark Korea Composite Stock Price Index rose 10.04 points, or 0.42 percent, to 2,383.18 in the first 25 minutes of trading.Foreigners became net buyers after dumping more than 830 billion won ($725 million) worth of stocks in the past four sessions due mainly to rising tensions between North Korea and the United States over the former's nuclear and missile development programs.&
MarketSept. 29, 2017
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Korea's industrial output up for 2nd month in Aug.
South Korea's industrial output gained ground slightly for the second straight month in August on a rise in output in the chipmaking and electronic sectors, but the uptick was offset by sluggish retail sales and corporate investment, government data showed Friday.Production in the mining, manufacturing, gas and electricity industries climbed 0.4 percent on-month in August, following an adjusted 1.7 percent rise in the previous month, according to the data by Statistics Korea.It is the first time
IndustrySept. 29, 2017
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FTC charges Airbnb with expediency on refund rules
The Fair Trade Commission said Thursday that it decided to charge the Irish office of global lodging giant Airbnb for ignoring the corrective orders on its contractual terms on cancellation penalty.This is the first time that the watchdog is to file a charge against a foreign business operator over noncompliance with the domestic act on the regulation of terms and conditions.In November last year, the FTC ordered Airbnb to correct the damage compensation clause which imposes a 50 percent penalty
IndustrySept. 28, 2017
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Creditors to OK restructuring plan for Kumho Tire Fri
Creditors of Kumho Tire Co. are set to agree on a debt restructuring plan for the financially troubled tiremaker as the company's self-rescue plans failed to meet their expectations, main creditor Korea Development Bank said Thursday. On Sep 12, Kumho Asiana Group submitted a self-help plan for its tire unit to the KDB-led creditors following the collapse of a deal to sell the country's No. 2 tiremaker to China's Qingdao Doublestar. "After reviewing the self-help program, creditors found it
IndustrySept. 28, 2017
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Hyundai tops J.D. Power quality rankings in China
South Korea's top carmaker Hyundai Motor Co. said Thursday it took the top spot in J.D. Power's Initial Quality Study for cars sold in China for a second consecutive year, despite its sales being hit hard by diplomatic rows between the two countries. Hyundai Motor was able to retain its No. 1 position this year due to improved vehicle quality and services, beating 42 competitors, such as Volkswagen Group, Toyota Motor Corp. and Nissan Motor Co., the company said in a statement. Hyundai hopes the
MobilitySept. 28, 2017
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Samsung, SKT stream live video with 4G, 5G
South Korean tech leaders SK Telecom and Samsung Electronics announced Thursday their completion of the world’s first end-to-end network interworking trial of fourth- and fifth-generation networks, which will allow consumers to enjoy immersive media content while driving in the early stages of the commercialization of 5G. The trial took place in the Euljiro area of central Seoul, where SKT is headquartered. A 360-degree virtual reality video clip was streamed live between a user in a traveling c
TechnologySept. 28, 2017
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[ITU 2017] ITU Telecom World ends with 5G in focus
BUSAN -- ITU Telecom World on Thursday wrapped up its four days of exchanges on opportunities and risks stemming from the emergence of new technologies. Thousands of ICT ministers, government officials and business leaders visited the southern port city of Busan to attend the event.The participants of the UN-backed ICT conference also discussed ways to address challenges in the global ICT segment, including the digital divide and the adoption of standards for next-generation networks.At this yea
TechnologySept. 28, 2017
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SK hynix to build W200b R&D center for NAND, future techs
South Korean memory chipmaker SK hynix announced Thursday it will invest more than 200 billion won to build a research and development center for its emerging cash cow NAND in the company’s headquarters in Icheon, Gyeonggi Province. When completed in September 2019, dispersed R&D crews across the Icheon campus will move in to the new center, including researchers and developers of the company’s flagship 3-D NAND chips and future technologies. The new R&D center will break ground next month on ab
TechnologySept. 28, 2017
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[ITU 2017] Meet Musio, the AI social robot that understands humans
BUSAN — Artificial intelligence has recently begun to step closer into our lives — primarily in the form of voice-activated smart speakers like the Amazon Echo and Google Home or digital assistant software built into smartphones like Apple’s Siri or Samsung’s Bixby. These devices all claim to be the so-called “chatbots,” but their ability to converse mostly stops at providing answers to one-ended inquiries or carrying out specific tasks commanded by humans.Seeking to create a more personable AI,
TechnologySept. 28, 2017
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Labor disputes escalate at Hyundai, GM amid stalled wage talks
Tension mounted at production plants at South Korea’s two major automakers ahead of the weeklong Chuseok holiday, with unionized workers pledging to increase pressure on management over stalled wage negotiations.Unionized workers at Hyundai Motor, the nation’s largest carmaker, are set to hold a vote to form a new executive body, with two final candidates, both known as hard-liners, running in the election on Friday. Both candidates have remained adamant, vowing that they won’t compromise with t
MobilitySept. 28, 2017
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[Monitor] 1 in 5 new businesses opened by young entrepreneurs
One in 5 new businesses that opened last year were owned by young people (classified as those in their late teens, 20s, 30s), data by the National Tax Service showed.The most preferred establishments were mail-order businesses, restaurants and commodities brokerages.A majority, or 56.7 percent, of the young and new business owners were men. But there were more women among new business owners aged 20 and 21. By sustainability, manufacturing businesses had the longest rate of 40.7 percent, followe
EconomySept. 28, 2017
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Korea reassures economy intact despite NK tension
The South Korean government on Thursday continued to reassure on the economy’s stability despite escalating security tensions on the Korean Peninsula, as pundits also raised caution that the new level of risk may affect the markets.Deputy Prime Minister and Finance Minister Kim Dong-yeon on Thursday held a ministerial-level meeting to review and discuss the pending situation and economic policies in Seoul.“The persisting North Korea risk is touching off a bit of concerns, but Korea&r
MarketSept. 28, 2017
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Benz hosts ‘FC Kids Benz’ in Yeonpyeong for Chuseok
Mercedes-Benz CSR Committee held this week a variety of CSR activities including the “FC Kids Benz” football class at Yeonpyeong Elementary School located in the Yeonpyeong Island, the front line of the West Sea in celebration of the Chuseok holidays, the company said Thursday.For two days from Tuesday, some 20 employees of the Daimler affiliates in Korea and all 66 students of Yeonpyeong elementary school participated in a football class. During the four-hour class, the students were given less
MobilitySept. 28, 2017
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Pads, diapers are safe: government study
Preliminary results of a study conducted by the Food and Drug Safety Ministry released Thursday found that menstrual care products and diapers distributed in Korea are safe to use, with potentially toxic chemicals only found in trace amounts.“A toxicity study on 10 highly toxic volatile organic compounds found that these VOCs were present in low levels that did not have harmful effects on the human body,” the ministry said. (Yonhap)The study was conducted on 666 menstrual care products and 10 di
IndustrySept. 28, 2017